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PROPERTY, PLANT AND EQUIPMENT
 3 Months Ended
Nov. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

4.       PROPERTY, PLANT AND EQUIPMENT

 

A summary of property, plant, and equipment is as follows:

         
  

November 30,

2024

  

August 31

2024

 
         
Office equipment  $668,260   $668,260 
Warehouse equipment   1,322,578    1,285,278 
Buildings   5,211,588    5,211,588 
Land   158,500    158,500 
    7,360,926    7,323,626 
           
Accumulated depreciation   (3,554,684)   (3,473,826)
           
Net book value  $3,806,242   $3,849,800 

 

In the event that facts and circumstances indicate that the carrying amount of an asset may not be recoverable and an estimate of future discounted cash flows is less than the carrying amount of the asset, an impairment loss will be recognized. Management's estimates of revenues, operating expenses, and operating capital are subject to certain risks and uncertainties which may affect the recoverability of the Company's investments in its assets. Although management has made its best estimate of these factors based on current conditions, it is possible that changes could occur which could adversely affect management's estimate of the net cash flow expected to be generated from its operations.

In connection with the wind-up of the Company’s JCSC operations, the Company listed for sale in July 2024 its 11.6 acre property that formerly housed operations. The carrying value of this property of $566,022 is recorded as an asset held for sale as of November 30, 2024 ($566,022 – August 31, 2024).