Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.2
Income Taxes (Tables)
12 Months Ended
Aug. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets and liabilities
    August 31,
2021
    August 31,
2020
 
Property, plant and equipment and intangible assets   $ (24,049,200 )    $ (18,502,900 )
Non-capital tax loss carry-forwards    

15,993,200 
      14,418,180  
Other tax-related balances and credits    

(208,332

)      (160,286  
Valuation allowance     8,264,332       4,247,006  
Net deferred tax assets (liabilities)   $
-
    $
-
 

   

Schedule of reconciliation of the provision for income taxes
    Year ended August 31,
2021
    Year ended August 31,
2020
 
Net loss before income taxes   $ 9,474,243     $ 12,379,067  
Combined federal and state statutory income tax rates     26.5 %     26.5 %
Tax recovery using the Company’s domestic tax rate    

2,510,674

      3,280,453  
Effect of tax rates in foreign jurisdictions    
-
     
-
 
Net effect of (non-deductible) deductible items    

(1,814,000

)      (2,369,610 )
Current year deductible amounts    

1,254,163

      1,638,692  
Current period losses not recognized    

(1,950,837

)      (2,549,535 )
Provision for income taxes   $
-
    $
-