Annual report pursuant to Section 13 and 15(d)

Commitments

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Commitments
12 Months Ended
Aug. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS
29. COMMITMENTS

The company has commitments under equipment financing arrangements entered into in prior periods, see Note 10, above.


Maturity of Leases


The amount of future minimum lease payments under finance leases is as follows:


    August 31, 2020  
Undiscounted minimum future lease payments      
Total instalments due:      
Within 1 year   $ 193,680  
1 to 2 years     80,700  
Total finance lease liability   $ 274,380  

The Company has entered into an office lease arrangement which, including the Company’s share of operating expenses and property taxes, will require estimated minimum annual payments of:


The amount of future minimum lease payments under operating leases is as follows:


    August 31, 2020  
Undiscounted minimum future lease payments      
Total instalments due:      
Within 1 year   $ 61,070  
1 to 2 years     62,903  
2 to 3 years     64,790  
3 to 4 years     66,734  
Total operating lease liability   $ 255,497