Quarterly report pursuant to Section 13 or 15(d)

LONG-TERM DEBT (Tables)

v3.20.1
LONG-TERM DEBT (Tables)
6 Months Ended
Feb. 29, 2020
Debt [Abstract]  
Schedule of long-term debt
              Principal
due
    Principal
due
 
Lender   Maturity Date   Interest
Rate
    February 29,
2020
    August 31,
2019
 
                       
Private lenders   January 15, 2020     10.00 %   $ 200,000     $ 200,000  
Private lenders   January 31, 2020     10.00 %     373,885       567,230  
Private lenders   September 17, 2019     10.00 %     100,000       100,000  
Beverly Pacific Holdings   On demand     5.00 %     173,259          
Equipment loans   April 20, 2020 –
November 7, 2021
    4.30 - 12.36 %     302,425       405,628  
                             
                $ 1,149,569     $ 1,272,858  
Schedule of long-term debt maturity period
    February 29,
2020
    August 31,
2019
 
             
Principal classified as repayable within one year   $ 1,019,915     $ 1,057,163  
Principal classified as repayable later than one year     129,654       215,695  
                 
    $ 1,149,569     $ 1,272,858