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Stock Options | 3 Months Ended
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Nov. 30, 2020
Share-based Payment Arrangement [Abstract] |
Stock Options |
13. | Stock Options
| The Company has established the 2014 Stock Option Plan whereby the board of directors may, from time to time, grant up to 62,917 stock options to directors, officers, employees, and consultants; and the 2019 Equity Incentive Plan whereby the board of directors may, from time to time, grant up to 261,290 stock options to directors, officers, employees, and consultants. Stock options granted must be exercised no later than five years from the date of grant or such lesser period as determined by the Company’s board of directors. The exercise price of an option is equal to or greater than the closing market price of the Company’s common shares on the day preceding the date of grant. The vesting terms of each grant are set by the board of directors. The Company did not grant options during the quarter ended November 30, 2020. A continuity schedule for stock options is presented below:
|  | Options |  |  | Weighted Average Exercise Price $ |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value $ |
Balance August 31, 2019 |  |  | 166,767 |  |  |  | 21.30 |  |  |  |  |  |  |
Cancelled/expired |  |  | (149,437 | ) |  |  | 29.51 |  |  |  |  |  |  |
Exercised |  |  | (7,333 | ) |  |  | 4.09 |  |  |  |  |  |  |
Granted |  |  | 161,600 |  |  |  | 11.66 |  |  |  |  |  |  |
Balance August 31, 2020 |  |  | 171,596 |  |  |  | 11.17 |  |  |  |  |  |  |
Cancelled |  |  | (1,333 | ) |  |  | 12.90 |  |  |  |  |  |  |
Balance November 30, 2020 (Outstanding) |  |  | 170,263 |  |  |  | 11.16 |  |  |  | 4.05 |  |  |  | 30,000 |
Balance November 30, 2020 (Exercisable) |  |  | 146,231 |  |  |  | 10.51 |  |  |  | 4.05 |  |  |  | 30,000 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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- References No definition available. + Details
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