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Alternative Health Products | 12 Months Ended
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Aug. 31, 2017
Alternative Health Products [Text Block] |
8. | Alternative Health Products
| On November 12, 2014, the Company signed an agreement with Poppy’s Teas LLC. (“PoViva”) acquired 51% of ViPova™. The Company had the option to acquire an additional 24% interest in PoViva. Lexaria acquired 100% ownership interest in PoViva Tea, LLC subsequent to August 31, 2017 via compensation of $70,000, a waiver on certain debts owed to Lexaria, and a 5%, 20 -year royalty on net profits of ViPova Tea TM tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued.
| As at August 31, 2017, the Company’s granted patent has a priority date of June 10, 2014, a publish date of October 25, 2016, and protects the Company’s technology for twenty years.
| On August 11, 2015, Lexaria signed a license agreement with PoViva Tea LLC for $10,000, granting Lexaria a 35 -year non exclusive worldwide license to unencumbered use of PoViva Tea LLC’s IP Rights, including rights of resale. This license agreement ensures Lexaria has full access to the underlying patent pending infusion Technology.
| Patents
|  |  | August 31 |  |  | August 31 |
|  |  | 2017 |  |  | 2016 |
|  |  | $ |  |  | $ |
| Balance – Beginning |  | 53,997 |  |  | 36,989 |
| Additions |  | 9,699 |  |  | 17,008 |
| Amortization |  | (869 | ) |  | - |
| Balance – Ending |  | 62,827 |  |  | 53,997 |
October 19, 2017, the Company received a new Notice of Allowance from the United States Patent and Trademark Office (“USPTO”) for the use of its technology as a delivery platform for all cannabinoids including THC; fat soluble vitamins; non steroidal anti-inflammatory pain medications (“NSAIDs”); and nicotine. Lexaria expects formal patent issuance within three to four months which is expected to provide protection until at least 2035. The patent application number is 15/225,799, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof”.

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- Definition Alternative Health Products + References No definition available. + Details
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