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Stock Options (Tables) | 12 Months Ended
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Aug. 31, 2023
Stock Options |
Summary of continuity schedule of stock options |
Options |  |  | Weighted Average Exercise Price |  |  | Contractual Life (years) |
41,200 |  |  | $ | 1.96 |  |  | 5 |
5,000 |  |  | $ | 2.73 |  |  | 5 |
3,400 |  |  | $ | 3.04 |  |  | 5 |
20,000 |  |  | $ | 0.87 |  |  | 5 |
69,600 |  |  | $ | 1.75 |  |  | (Avg. Contractual Life) 5 |
Schedule of stock options activity | The Company granted the following stock options during the year ending August 31, 2022:
|  |  | Quantity |  |  |  |  |  | Exercise Price $ |  |  | Contractual Life (years) |
|  |  | 81,800 |  |  |  |  |  | 6.23 |  |  | 5 |
|  |  | 36,700 |  |  |  |  |  | 3.39 |  |  | 5 |
|  |  | 103,500 |  |  |  |  |  | 2.91 |  |  | 5 |
August 31, 2022 |  |  | 222,000 |  |  | Average |  |  | 4.21 |  |  | 5 |
Schedule of fair value of options granted |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value |
Balance August 31, 2021 |  |  | 206,170 |  |  | $ | 8.90 |  |  |  |  |  |  |
Cancelled/expired |  |  | (3,334 | ) |  |  | 9.60 |  |  |  |  |  |  |
Granted |  |  | 222,000 |  |  |  | 4.21 |  |  |  |  |  |  |
Balance August 31, 2022 |  |  | 424,836 |  |  |  | 6.45 |  |  |  |  |  |  |
Cancelled/expired |  |  | (47,500 | ) |  |  | 2.98 |  |  |  |  |  |  |
Granted |  |  | 69,600 |  |  |  | 1.75 |  |  |  |  |  |  |
Balance August 31, 2023 (Outstanding) |  |  | 446,936 |  |  | $ | 3.32 |  |  |  | 3.25 |  |  | $ | 3,600 |
Balance August 31, 2023 (Exercisable) |  |  | 435,186 |  |  | $ | 3.32 |  |  |  | 3.25 |  |  | $ | 3,600 |
|  | August 31 2023 |  |  | August 31 2022 |
Expected volatility |  |  | 93%-105 | % |  |  | 98% – 119 | %
Risk-free interest rate |  |  | 3.30%-4.69 | % |  |  | 0.78% – 3.30 | %
Expected life |  |  | 2.5 – 5 years |  |  |  | 5 years |
Dividend yield |  |  | 0 | % |  |  | 0 | %
Estimated fair value per option |  |  | 0.33 – 2.32 |  |  |  | $2.25 – $5.10 |

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