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Alternative Health Products | 12 Months Ended
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Aug. 31, 2018
Alternative Health Products [Abstract] |
Alternative Health Products |
9. | Alternative Health Products
| On November 12, 2014, the Company signed an agreement with Poppy’s Teas LLC. (“PoViva”) whereby we acquired 51% of PoViva Tea LLC replacing Poppy’s Teas LLC. The Company acquired 100% ownership interest in PoViva Tea, LLC in October 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 TeaTM tea, coffee, and hot chocolate sales. No Lexaria stock or options were issued.
| 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 and has been updated following the purchase of 100% interest in PoViva.
| Patents On December 12, 2017, Lexaria received patent US 9,839,612 B2 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. On March 22, 2018 the Company announced it received a new Notice of Allowance from the USPTO providing for “composition of matter” claims that protect the specific combination of substances which enable improved taste and bioabsorption properties of its DehydraTECH™ technology for the delivery of cannabinoids. On May 22, 2018 patent US 9,974,739 B2, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof” was granted. On April 11, 2018 the Company announced it received a new Notice of Allowance from the USPTO providing claims that protect processes for making specific compositions of matter for enhanced cannabinoid delivery utilizing its DehydraTECH™ technology. On May 15, 2018 patent US 9,972,680 B2, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof” was granted.
Issued Patent # | Patent Issuance Date | Patent Family
US 9,474,725 B1 | 10/25/2016 | Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof
US 9,839,612 B2 | 12/12/2017
US 9,972,680 B2 | 5/15/2018
US 9,974,739 B2 | 5/22/2018 |
| A continuity schedule for patents is presented below:
|  | August 31 2018 $ |  |  | August 31 2017 $ |
Balance – Beginning |  |  | 62,827 |  |  |  | 53,997 |
Additions |  |  | 85,399 |  |  |  | 9,699 |
Amortization* |  |  | (1,688 | ) |  |  | (869 | )
Balance – Ending |  |  | 146,538 |  |  |  | 62,827 |
________ * The patents are amortized over their legal life of 20 years.

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