Annual report pursuant to Section 13 and 15(d)

Senior Secured Convertible Note Payable (Details Narrative)

v3.10.0.1
Senior Secured Convertible Note Payable (Details Narrative) - USD ($)
12 Months Ended
Jun. 04, 2018
Aug. 31, 2018
Aug. 31, 2017
8% Senior Secured Convertible notes, Principal   $ 10,000,000
Warrants granted 1,004,016 948,745 920,000
Warrants exercise price $ 2.49    
Amortization debt discount and debt issuance cost   $ 704,746
Interest expense   191,111
Accrued interest payable   57,778
Incremental debt issuance costs   800,000  
Debt discount   2,800,000  
Original issuance discount   1,000,000  
Fair value of the warrants   $ 900,000  
Expected term   4 years 4 years
Stock Option [Member]      
Warrants granted   948,745 920,000
Unamortized Debt discount   $ 2,200,000  
Beneficial conversion feature   900,000  
Warrant [Member]      
Debt discount   $ 900,000  
Volatility rate   29.17%  
Risk free interest rate   2.78%  
Expected term   5 years  
Institutional Investors [Member]      
8% Senior Secured Convertible notes, Principal $ 10,000,000    
Purchase price of notes $ 9,000,000    
Interest rate 8.00%    
Maturity date Sep. 04, 2019    
Proceeds from issuance of notes $ 8,400,000    
Debt issuance costs $ 600,000    
Description for event of default   <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company executed registration rights agreements with each of its institutional investors. These registration rights agreements require, among other things, that the initial registration statement should be (a) filed within 30 days of June 4, 2018, and (b) declared effective within 90 days of June 4, 2018. Our registration statement was filed on October 1, 2018 and it was declared effective by the SEC on October 29, 2018; thus, both the filing and effectiveness deadlines were missed. </font></p>  
Debt default amount recorded as other current liabilities   $ 3,900,000  
Investment Banker [Member]      
Warrants granted 216,867    
Warrants exercise price $ 2.49