Quarterly report pursuant to Section 13 or 15(d)

Senior Secured Convertible Note Payable (Tables)

v3.19.2
Senior Secured Convertible Note Payable (Tables)
6 Months Ended
Feb. 28, 2019
Senior Secured Convertible Note Payable  
Schedule of principal balances under convertible notes

    February 28,     August 31,  
    2019 - Restated     2018 - Restated  
8% Senior Secured Convertible notes, Principal   $ 10,000,000     $ 10,000,000  
Less debt discount costs     (820,202 )     (1,602,362 )
Less debt issuance costs     (1,113,059 )     (2,226,323 )
Less Principal converted to common stock     (4,593,295 )     -  
Plus Additional Principal from settlement agreements     888,889       -  
Total outstanding convertible notes, net     4,362,333       6,171,315  
Less current portion of convertible notes payable     (4,362,333 )     (6,171,315 )
Long-term convertible notes payable   $ -     $ -