Leases (Tables)
|
6 Months Ended |
Feb. 28, 2021 |
|---|
| Leases Abstract |
|
| Schedule of right of use assets included in the unaudited condensed consolidated Balance Sheet |
| |
|
February
28,
2021
|
|
|
August
31,
2020 |
|
| Non-current assets |
|
|
|
|
|
|
|
|
| Right of use assets – operating leases, net of
amortization |
|
$ |
188,598 |
|
|
$ |
209,101 |
|
| Right of use assets – finance leases, net of
depreciation – included in property, plant and equipment |
|
|
698,023 |
|
|
|
718,193 |
|
|
| Schedule of lease costs |
| |
|
Six months
ended
February 28,
2021
|
|
|
Six months
ended
February 28,
2020
|
|
| |
|
|
|
|
|
|
| Finance lease cost: |
|
$ |
36,412 |
|
|
$ |
107,992 |
|
| Depreciation of right of use assets |
|
|
23,045 |
|
|
|
85,842 |
|
| Interest expense on lease liabilities |
|
|
13,367 |
|
|
|
22,150 |
|
| |
|
|
|
|
|
|
|
|
| Operating lease expense |
|
|
19,764 |
|
|
|
62,610 |
|
| |
|
|
|
|
|
|
|
|
| Total lease cost |
|
$ |
56,176 |
|
|
$ |
170,602 |
|
|
| Schedule of other lease information |
| |
|
Six months
ended
February 28,
2021
|
|
|
Six months
ended
February 28,
2020
|
|
| Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
|
|
| Operating cash flows from finance leases |
|
$ |
(13,367 |
) |
|
$ |
(22,150 |
) |
| Operating cash flows from operating leases |
|
|
(19,764 |
) |
|
|
(62,610 |
) |
| Financing cash flows from finance leases |
|
$ |
(83,473 |
) |
|
$ |
(103,203 |
) |
| |
|
|
|
|
|
|
|
|
| Right-of -use assets obtained in exchange for new operating leases |
|
$ |
- |
|
|
|
245,482 |
|
| Weighted average remaining lease term – finance leases |
|
|
0.86 years |
|
|
|
2.25 years |
|
| Weighted average remaining lease term – operating leases |
|
|
2.50 years |
|
|
|
3.50 years |
|
| Weighted average discount rate – finance leases |
|
|
13.52 |
% |
|
|
12.86 |
% |
| Weighted average discount rate – operating leases |
|
|
10.00 |
% |
|
|
10.00 |
% |
|
| Schedule of future minimum lease payments under finance leases |
| |
|
February
28,
2021 |
|
|
August 31,
2020 |
|
| Undiscounted minimum future lease
payments |
|
|
|
|
|
|
|
|
| Total instalments due: |
|
|
|
|
|
|
|
|
| Within 1 year |
|
$ |
177,540 |
|
|
$ |
193,680 |
|
| 1 to 2 years |
|
|
- |
|
|
|
80,700 |
|
| 2 to 3 years |
|
|
- |
|
|
|
- |
|
| |
|
|
177,540 |
|
|
|
274,380 |
|
| Imputed interest |
|
|
(13,581 |
) |
|
|
(26,948 |
) |
| Total finance lease liability |
|
$ |
163,959 |
|
|
$ |
247,432 |
|
| |
|
|
|
|
|
|
|
|
| Disclosed as: |
|
|
|
|
|
|
|
|
| Current portion |
|
$ |
163,959 |
|
|
$ |
172,374 |
|
| Non-current portion |
|
|
- |
|
|
|
75,058 |
|
| |
|
$ |
163,959 |
|
|
$ |
247,432 |
|
|
| Schedule of future minimum lease payments under operating leases |
| |
|
February 28,
2021 |
|
|
August 31,
2020 |
|
| Undiscounted minimum future lease payments |
|
|
|
|
|
|
| Total instalments due: |
|
|
|
|
|
|
| Within 1 year |
|
$ |
61,987 |
|
|
$ |
61,070 |
|
| 1 to 2 years |
|
|
63,846 |
|
|
|
62,903 |
|
| 2 to 3 years |
|
|
65,762 |
|
|
|
64,790 |
|
| 3 to 4 years |
|
|
33,367 |
|
|
|
66,734 |
|
| |
|
|
224,962 |
|
|
|
255,497 |
|
| Imputed interest |
|
|
(36,364 |
) |
|
|
(46,396 |
) |
| Total operating lease liability |
|
$ |
188,598 |
|
|
$ |
209,101 |
|
| |
|
|
|
|
|
|
|
|
| Disclosed as: |
|
|
|
|
|
|
|
|
| Current portion |
|
$ |
45,136 |
|
|
$ |
42,053 |
|
| Non-current portion |
|
|
143,462 |
|
|
|
167,048 |
|
| |
|
$ |
188,598 |
|
|
$ |
209,101 |
|
|