XML 49 R23.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Related Party Transactions | 3 Months Ended | 12 Months Ended
--- | --- | ---
Nov. 30, 2017 | Aug. 31, 2017 | Aug. 31, 2016
Related Party Transactions [Text Block] |
14. | Related Party Transactions
| For the period ended November 30, 2017, the Company paid/accrued the following:
|  |  | November 30 |  |  | November 30 |
|  |  | 2017 |  |  | 2016 |
|  |  | $ |  |  | $ |
| Management, consulting and accounting services: |  |  |  |  |  |
| C.A.B Financial Services (“CAB”) (1) |  | 36,000 |  |  | 30,230 |
| M&E Services Ltd. (“M&E”) (1) |  | 18,822 |  |  | 11,089 |
| Docherty Management Limited (“Docherty Management”) (1) |  | 35,292 |  |  | 70,166 |
| Company controlled by a director – consulting |  | 12,000 |  |  | 12,000 |
|  |  | 102,114 |  |  | 123,485 |
| (1) CAB is owned by the CEO of the Company, M&E is owned by the CFO of the Company June 1, 2017, and Docherty Management Limited (“Docherty Management”) is owned by the President of the Company.
| Due to related parties:
| As at November 30, 2017, $25,018 (August 31, 2017 - $42,690) was payable to related parties included in due to related parties.
| The related party transactions are recorded at the exchange amount established and agreed to between the related parties.
14. | Related Party Transactions
| For the year ended August 31, 2017, the Company paid/accrued the following:
|  |  | August 31 |  |  | August 31 |
|  |  | 2017 |  |  | 2016 |
|  |  | $ |  |  | $ |
| Management, consulting and accounting services: |  |  |  |  |  |
| C.A.B Financial Services (“CAB”) (1) |  | 136,000 |  |  | 120,000 |
| M&E Services Ltd. (“M&E”) (1) |  | 54,963 |  |  | 30,794 |
| Docherty Management Limited (“Docherty Management”) (1) |  | 125,394 |  |  | 117,213 |
| Company controlled by a director – consulting |  | 48,000 |  |  | 8,000 |
| BKB Management Ltd. (former CFO) |  | - |  |  | 44,767 |
| Senior Vice President – Executive management consulting |  | - |  |  | 18,000 |
|  |  | 364,357 |  |  | 338,431 |
(1) CAB is owned by the CEO of the Company, M&E is owned by the CFO of the Company, appointed June 1 st 2017, and Docherty Management Limited (“Docherty Management”) is owned by the President of the Company.
|  | Common shares | Fair value | Cash
| Docherty Management (Note 11,16) (1) | 252,000 | $35,760 | $6,240
| Docherty Management (Note 11,16) (2) | 210,000 | $61,950 | $11,800
| CAB (Note 11,16) (2) | 210,000 | $61,950 | $11,800
(1) Issued in lieu of issuance of 300,000 common shares, as mutually agreed to between the parties. (2) Issued in lieu of issuance of 250,000 common shares, as mutually agreed to between the parties.
| Other transactions with related parties:
| a) On July 25, 2016, the Company entered into a loan agreement with CAB for a principal amount of $50,000. During the year ended August 31, 2017, the Company repaid the full $50,000 principal to CAB and also paid $1,515 in interest.
| b) During the year ended August 31, 2017, the Company sold $5,058 (2016 $NIL) of products to a director and an officer of the company and paid $1,341 in rent to an officer of the company.
| Due to related parties:
| As at August 31, 2017, $42,690 (August 31, 2016 - $331,371) was payable to related parties included in due to related parties.
| The related party transactions are recorded at the exchange amount established and agreed to between the related parties.
15. | Related Party Transactions
| For the year ended August 31, 2016, the Company paid/accrued $120,000 to C.A.B Financial Services (“CAB”) (2015 - $119,700); to BKB Management Ltd. (“BKB”) $44,767 (2015 - $69,543) for management, consulting and accounting services; to a senior vice president $18,000 (2015 - $42,000) for executive management consulting; and to Docherty Management Limited $117,213 (2015 - $60,965). All fees incurred were included as consulting on the Company’s statement of operations. CAB is owned by the CEO of the Company, BKB is owned by the former CFO of the Company and Docherty Management Limited (“Docherty Management”) is owned by the President of the Company. The CFO of the Company resigned effective April 29, 2016.
| During the year ended August 31, 2016, the Company also granted 210,000 (2015 – 462,000) restricted common shares with a value of $21,000 (2015 – $83,532) per share to Mr. Docherty for his services.
| The Company granted a total of 410,000 (2015 – 1,870,000) incentive stock options to the directors and officers of the Company with a fair value of $51,642 (2015 - $159,082) (Note 11).
| On July 25, 2016, the Company entered into a loan agreement with CAB for a principal amount of $50,000. The term of the loan agreement is 15 months, with an interest free period for the first three months. For the final 12 months, Lexaria will pay simple interest at the rate of 8% per annum.
| During fiscal 2015, outstanding loans to Company’s related parties were repaid from the total consideration from the sale of Lexaria’s oil and gas working interest (Note 14). Total interest expense incurred on such loans during the year ended August 31, 2015 amounted to CAD$24,720 and $10,333.
| During July 2016, the Company entered into a marketing agreement with a Company controlled by a director for compensation of $4,000 per month. During the year ended August 31, 2016, the Company paid $8,000 in such fees.
| As at August 31, 2016, $331,371, inclusive of loan noted above, was payable to the related parties (August 31, 2015 - $22,052).
| The related party transactions are recorded at the exchange amount established and agreed to between the related parties.

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration