Schedule of revision of financial statements |
The
effect of this revision on the line items within the Company’s condensed financial statements as of August 31, 2018, was
as follows:
|
|
August
31, 2018 |
|
|
|
As
Previously
Reported
|
|
|
Adjustments |
|
|
As
Restated |
|
Convertible
note, net |
|
$ |
7,156,515 |
|
|
|
(985,200 |
) |
|
$ |
6,171,315 |
|
Additional
Paid-In Capital |
|
|
17,233,919 |
|
|
|
1,231,500 |
|
|
|
18,465,419 |
|
Accumulated
deficit |
|
|
(25,976,706 |
) |
|
|
(246,300 |
) |
|
|
(26,223,006 |
) |
Net
Loss |
|
|
(16,576,479 |
) |
|
|
(246,300 |
) |
|
|
(16,822,779 |
) |
Net
loss per share – Basic and diluted |
|
|
(0.58 |
) |
|
|
- |
|
|
|
(0.58 |
) |
The
effect of this revision on the line items within the Company’s condensed financial statements as of and for the three
months ended November 30, 2018, was as follows:
|
|
November
30, 2018 |
|
|
|
As
Previously
Reported
|
|
|
Adjustments |
|
|
As
Restated |
|
Convertible
note, net |
|
$ |
6,309,104 |
|
|
|
(738,900 |
) |
|
$ |
5,570,204 |
|
Additional
Paid-In Capital |
|
|
19,728,657 |
|
|
|
1,231,500 |
|
|
|
20,960,157 |
|
Accumulated
deficit |
|
|
(27,976,892 |
) |
|
|
(492,600 |
) |
|
|
(28,469,492 |
) |
Net
Loss |
|
|
(2,000,186 |
|
|
|
(246,300 |
) |
|
|
(2,246,486 |
) |
Net
loss per share – Basic and diluted |
|
|
(0.07 |
) |
|
|
(0.01 |
) |
|
|
(0.08 |
) |
|
Schedule of weighted average dilutive common shares |
|
|
For
the
Three
Months
Ended
February
28,
2019
|
|
|
For
the
Three
Months
Ended
February
28,
2018
|
|
|
|
|
|
|
Options |
|
|
1,475,829 |
|
|
|
820,000 |
|
Senior
Secured Convertible Notes (Note 4) |
|
|
4,739,813 |
|
|
|
- |
|
Warrants |
|
|
3,511,296 |
|
|
|
2,570,413 |
|
Total
potentially dilutive shares |
|
|
9,726,938 |
|
|
|
3,390,413 |
|
|