Stockholders' Equity (Tables)
|3 Months Ended|
Nov. 30, 2021
|Schedule of Stockholders' Equity Note, Warrants or Rights||
The following table summarizes the changes in the Company’s common stock and Prefunded Warrants from August 31, 2021 to November 30, 2021.
The following table summarizes the Company’s warrants outstanding as of November 30, 2021:
(1)The September 2021 Prefunded Warrants were sold as part of a Prefunded Warrant Unit as described above at a nominal price of $0.0001 per share.
(2)The September 2021 Placement Agent Warrants become exercisable six months from issuance and expire four years from the effective date (which has not yet occurred) of the registration statement covering the resale of the underlying shares.
Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef