Annual report pursuant to Section 13 and 15(d)

Senior Secured Convertible Note Payable (Tables)

v3.10.0.1
Senior Secured Convertible Note Payable (Tables)
12 Months Ended
Aug. 31, 2018
Senior Secured Convertible Note Payable  
Principal balances under convertible notes
    August 31,     August 31,  
    2018     2017  
8% Senior Secured Convertible notes, Principal (in default)   $ 10,000,000     $ -  
Less debt discount and debt issuance cost     (2,843,485 )     -  
      7,156,515       -  
Less current portion of convertible notes payable     (7,156,515 )     -  
Long-term convertible notes payable   $ -     $ -  
Debt issuance costs for periods
   

August 31,

2018

   

August 31,

2017

 
             
Debt issuance costs, August 31, 2017   $ -     $ -  
Additions     765,077       -  
Amortization     (147,915 )     -  
Debt issuance costs, August 31, 2018   $ 617,162     $ -  
Debt discount during the period

   

August 31,

2018

   

August 31,

2017

 
             
Debt discount, August 31, 2017   $ -     $ -  
Additions     2,783,154       -  
Amortization     (556,831 )     -  
Debt discount, August 31, 2018   $ 2,226,323     $ -