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Commitments, Significant Contracts and Contingencies Management and Service Agreements (Tables) | 3 Months Ended
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Nov. 30, 2020
Commitments and Contingencies Disclosure [Abstract] |
Schedule of management and service agreements |
Party |  | Monthly Commitment |  | Expiry Date |
C.A.B Financial Services |  | CAD $29,706 |  | January 1, 2022 |
Docherty Management Ltd. |  | CAD $25,609 |  | January 1, 2022 |
M&E Services Ltd. |  | CAD $13,997 |  | June 1, 2021 |
Corporate Development |  | CAD $1,500 |  | Month to Month |
Office Management |  | CAD $10,800 |  | August 15, 2022 |
Research & Development |  | CAD $3,854 |  | Month to Month |
Office operating lease (1) |  | CAD $4,823 |  | November 15, 2023 |
Right of Use Assets - Operating Lease
(1) | Corporate office and R&D lab space leased in Kelowna, British Columbia, Canada until November 15, 2023 with an option to extend an additional five years. In addition to minimum lease payments, the lease requires us to pay property taxes and operating costs which are subject to annual adjustments.
Schedule of information about operating lease |
Right of use assets - operating leases: |  | $ |
November 30, 2020 |  |  | 126,920 |
Amortization |  |  | (8,727 | )
Total right of use assets |  |  | 118,193 |
Liabilities: |  |  |  |
November 30, 2020 |  |  | 125,431 |
Lease payments |  |  | (10,987 | )
Interest accretion |  |  | 2,220 |
Total lease liabilities |  |  | 116,664 |
Operating lease cost as at November 30, 2020 |  | $ | 118,193 |
Operating cash flows for lease |  |  | 10,948 |
Remaining lease term |  | 2.8 Years |
Discount rate |  |  | 7.25 | %
Schedule of maturities of operating lease liabilities |
2021 |  |  | 32,746 |
2022 |  |  | 44,815 |
2023 |  |  | 44,815 |
2024 |  |  | 7,469 |
Thereafter |  |  | — |
Total lease payments |  |  | 129,845 |
Less: imputed interest |  |  | (13,181 | )
Present value of operating lease liabilities |  |  | 116,664 |
Less: current obligations under leases |  |  | (36,695 | )
Total |  |  | 79,969 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of key provisions of an arrangement under which the entity has agreed to purchase goods or services over a period of time greater than one year or the normal operating cycle, if longer, including the item for which expenditures will be made, minimum quantities, milestones, time period and committed amount. + References No definition available. + Details
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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41499-112717 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121555522&loc=d3e12069-110248 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41502-112717 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121549808&loc=d3e36991-112694 + Details
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