Document and Entity Information
Document and Entity Information | 6 Months Ended |
Feb. 28, 2018shares | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Feb. 28, 2018 |
Trading Symbol | enrt |
Entity Registrant Name | Enertopia Corp. |
Entity Central Index Key | 1,346,022 |
Current Fiscal Year End Date | --08-31 |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 110,753,031 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Well Known Seasoned Issuer | No |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
UNAUDITED CONDENSED INTERIM BAL
UNAUDITED CONDENSED INTERIM BALANCE SHEETS - USD ($) | Feb. 28, 2018 | Aug. 31, 2017 |
Current | ||
Cash and cash equivalents | $ 32,487 | $ 150,870 |
Accounts receivable | 1,453 | 9,060 |
Prepaid expenses and deposit | 107,927 | 18,782 |
Total current assets | 141,867 | 178,712 |
Non-Current | ||
Long term investments | 1 | 1 |
Lithium Technology | 12,500 | 12,500 |
Total Assets | 154,368 | 191,213 |
Current | ||
Accounts payable | 271,632 | 287,706 |
Due to related parties | 159,491 | 141,035 |
Total Current Liabilities | 431,123 | 428,741 |
STOCKHOLDERS' EQUITY | ||
Share capital Authorized: 200,000,000 common shares with a par value of $0.001 per share Issued and outstanding: 110,753,031 common shares at February 28, 2018 and August 31,2017: 102,298,031 | 110,754 | 102,299 |
Additional paid-in capital | 13,247,143 | 12,901,936 |
Deficit accumulated during the exploration stage | (13,634,652) | (13,241,763) |
Total Stockholders' Equity | (276,755) | (237,528) |
Total Liabilities and Stockholders' Equity | $ 154,368 | $ 191,213 |
UNAUDITED CONDENSED INTERIM BA3
UNAUDITED CONDENSED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares | Feb. 28, 2018 | Aug. 31, 2017 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 110,753,031 | 102,298,031 |
Common Stock, Shares, Outstanding | 110,753,031 | 102,298,031 |
CONDENSED INTERIM STATEMENTS OF
CONDENSED INTERIM STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) | COMMON STOCK [Member] | ADDITIONAL PAID-IN CAPITAL [Member] | DEFICIT ACCUMULATED [Member] | Total |
Beginning Balance at Aug. 31, 2016 | $ 89,528 | $ 12,214,934 | $ (12,440,597) | $ (136,135) |
Beginning Balance (Shares) at Aug. 31, 2016 | 89,528,460 | |||
Stock Based Compensation | 227,428 | 227,428 | ||
Shares issued for private placement on September 23 | $ 3,859 | 93,792 | 97,651 | |
Shares issued for private placement on September 23 (Shares) | 3,858,571 | |||
Shares issued for Definitive Agreement on October 7 | $ 175 | 6,825 | 7,000 | |
Shares issued for Definitive Agreement on October 7 (Shares) | 175,000 | |||
Shares issued for Private Placement on January 20 | $ 1,000 | 28,600 | 29,600 | |
Shares issued for Private Placement on January 20 (Shares) | 1,000,000 | |||
Shares issued for Private Placement on February 28 | $ 4,250 | 115,119 | 119,369 | |
Shares issued for Private Placement on February 28 (Shares) | 4,250,000 | |||
Warrant conversion on April 21 | $ 96 | 5,590 | 5,686 | |
Warrant conversion on April 21 (Shares) | 95,500 | |||
Warrant conversion on April 28 | $ 167 | 11,488 | 11,655 | |
Warrant conversion on April 28 (Shares) | 166,500 | |||
Shares issued for Private Placement on Apr 28 | $ 3,224 | 198,160 | 201,384 | |
Shares issued for Private Placement on Apr 28 (Shares) | 3,224,000 | |||
Comprehensive income (loss): | (801,166) | (801,166) | ||
Ending Balance at Aug. 31, 2017 | $ 102,299 | 12,901,936 | (13,241,763) | (237,528) |
Ending Balance (Shares) at Aug. 31, 2017 | 102,298,031 | |||
Stock Based Compensation | 31,237 | 31,237 | ||
Shares issued for Private Placement on November 1 | $ 2,600 | 98,598 | 101,198 | |
Shares issued for Private Placement on November 1 (Shares) | 2,600,000 | |||
Shares issued for Private Placement on December 8 | $ 3,954 | 140,505 | 144,459 | |
Shares issued for Private Placement on December 8 (Shares) | 3,954,000 | |||
Option conversion on December 8 | $ 240 | 11,760 | 12,000 | |
Option conversion on December 8 (Shares) | 240,000 | |||
Shares issued for Private Placement on January 12 | $ 1,611 | 59,657 | 61,268 | |
Shares issued for Private Placement on January 12 (Shares) | 1,611,000 | |||
Warrant conversion on February 2 | $ 50 | 3,450 | 3,500 | |
Warrant conversion on February 2 (Shares) | 50,000 | |||
Comprehensive income (loss): | (392,889) | (392,889) | ||
Ending Balance at Feb. 28, 2018 | $ 110,754 | $ 13,247,143 | $ (13,634,652) | $ (276,755) |
Ending Balance (Shares) at Feb. 28, 2018 | 110,753,031 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Feb. 28, 2018 | Feb. 28, 2017 | Feb. 28, 2018 | Feb. 28, 2017 | |
Expenses | ||||
Accounting and audit | $ 15,852 | $ 6,563 | $ 21,970 | $ 21,363 |
Bank charges and interest expense | 380 | 561 | 737 | 1,813 |
Consulting | 11,000 | 10,958 | 21,700 | 50,086 |
Mineral exploration costs | 6,083 | 1,160 | 6,083 | 32,669 |
Fees and dues | 7,632 | 7,157 | 19,436 | 18,425 |
Insurance | 4,275 | 3,219 | 7,277 | 6,767 |
Investor relations | 38,852 | 55,935 | 51,503 | 83,190 |
Legal and professional | 3,219 | 1,758 | 6,967 | 8,094 |
Office and miscellaneous | 2,088 | 2,983 | 3,863 | 604 |
Research and development | 102,996 | 0 | 211,744 | 0 |
Rent | 1,371 | 4,114 | 2,733 | 8,838 |
Stock based compensation | 0 | 124,746 | 31,237 | 164,392 |
Telephone | 74 | 886 | (129) | 1,583 |
Training & Conferences | 0 | 0 | 0 | 0 |
Travel | 4,328 | 5,206 | 6,959 | 5,733 |
Total expenses | 198,150 | 225,246 | 392,080 | 403,557 |
(Loss) for the period before other items | (198,150) | (225,246) | (392,080) | (403,557) |
Other income (expense) | ||||
Foreign exchange gain (loss) | (1,398) | 0 | (809) | 0 |
Gain (loss) on marketable securities | 0 | (282) | 0 | 12,316 |
Impairment of long term investments | 0 | (1) | 0 | (1) |
Net loss and comprehensive loss for the period | $ (199,548) | $ (225,529) | $ (392,889) | $ (391,242) |
Basic and diluted income (loss) per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted | 109,574,975 | 93,670,835 | 106,332,976 | 91,811,606 |
CONDENSED INTERIM STATEMENTS O6
CONDENSED INTERIM STATEMENTS OF CASH FLOWS (unaudited) - USD ($) | 6 Months Ended | |
Feb. 28, 2018 | Feb. 28, 2017 | |
Cash flows used in operating activities | ||
Net Income (loss) | $ (392,889) | $ (391,242) |
Changes to reconcile net loss to net cash used in operating activities | ||
Stock based compensation | 31,237 | 164,392 |
Gain on owned securities | 0 | (12,317) |
Impairment of long term investments | 0 | 1 |
Change in non-cash working capital items: | ||
Accounts receivable | 7,607 | (7,454) |
Prepaid expenses and deposit | (89,145) | 5,849 |
Accounts payable and accrued liabilities | (16,074) | (3,901) |
Due to related parties | 18,456 | 44,078 |
Net cash (used in) operating activities | (440,808) | (200,594) |
Cash flows from (used in) investing activities | ||
Proceeds from sale of marketable securities | 0 | 31,097 |
Acquisition of lithium technology | 0 | (10,000) |
Mineral resource properties acquisition | 0 | (5,000) |
Net cash from investing activities | 0 | 16,097 |
Cash flows from financing activities | ||
Net proceeds from options exercised | 3,500 | 0 |
Net proceeds from warrants exercised | 12,000 | 0 |
Net proceeds from subscriptions received | 306,925 | 246,618 |
Net cash from financing activities | 322,425 | 246,618 |
Increase (Decrease) in cash and cash equivalents | (118,383) | 62,121 |
Cash and cash equivalents, beginning of period | 150,870 | 31,034 |
Cash and cash equivalents, end of period | 32,487 | 93,155 |
Supplemental information of cash flows | ||
Interest paid in cash | 0 | 0 |
Income taxes paid in cash | $ 0 | $ 0 |
ORGANIZATION
ORGANIZATION | 6 Months Ended |
Feb. 28, 2018 | |
ORGANIZATION [Text Block] | 1. ORGANIZATION The unaudited condensed interim financial statements for the period ended February 28, 2018 included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. These unaudited condensed interim financial statements should be read in conjunction with the August 31, 2017 audited annual financial statements and notes thereto. The Company was formed on November 24, 2004 under the laws of the State of Nevada and commenced operations on November 24, 2004. The Company was an independent natural resource company engaged in the exploration, development and acquisition of natural resources in the United States and Canada. In the fiscal year 2010, the Company shifted its strategic plan from its non-renewal energy operations to its planned renewal energy operations and natural resource acquisition and development. In late summer of 2013, the Company had another business sector in alternative health and wellness. During spring of 2016, the Company shifted its strategic plan to natural resource acquisitions and Lithium brine extraction technology. The Company office is located in Kelowna, B.C., Canada. |
GOING CONCERN UNCERTAINTY
GOING CONCERN UNCERTAINTY | 6 Months Ended |
Feb. 28, 2018 | |
GOING CONCERN UNCERTAINTY [Text Block] | 2. GOING CONCERN UNCERTAINTY The accompanying unaudited condensed interim financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business for the foreseeable future. The Company had a working capital deficit of $289,256 for the quarter ended February 28, 2018 [deficit of $250,029 for the year ended August 31, 2017]. The Company incurred a net loss of $392,889 for the six months ended February 28, 2018 [net loss of $391,242 for the six months ended February 28, 2017] and as at February 28, 2018 has incurred cumulative losses of $13,634,652 that raises substantial doubt about its ability to continue as a going concern. Management has been able, thus far, to finance the operations through equity financing and cash on hand. There is no assurance that the Company will be able to continue to be adequately financed on this basis. In view of these conditions, the ability of the Company to continue as a going concern is in substantial doubt and dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to obtain additional financing as may be required, to receive the continued support of the Company’s shareholders, and ultimately to obtain successful operations. There are no assurances that we will be able to obtain further funds required for our continued operations. As noted herein, we are pursuing various financing alternatives to meet our immediate and long-term financial requirements. There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will be unable to conduct our operations as planned, and we will not be able to meet our other obligations as they become due. In such event, we will be forced to scale down or perhaps even cease our operations. There is significant uncertainty as to whether we can obtain additional financing. These unaudited interim condensed financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying unaudited condensed interim financial statements. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Feb. 28, 2018 | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 3. SIGNIFICANT ACCOUNTING POLICIES a) Basis of Presentation The accompanying unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q and Article 10 of SEC Regulation S-X. They do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended August 31, 2017. b) Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate our estimates, judgments, and assumptions, including those related to revenue recognition, inventory valuation, and stock based compensation (expense and liability). Our estimates, judgments, and assumptions are based on historical experience, future expectations, and other factors which we believe to be reasonable. Actual results could differ from those estimates and assumptions. c) Recently Adopted Accounting Pronouncements In May 2015, the FASB issued guidance to remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using net asset value per share practical expedient. The guidance is effective for the Company in the first quarter of fiscal 2017 and early adoption is permitted. Adoption of the new guidance, effective for the quarter beginning September 1, 2017, had no impact on the Company’s balance sheets or statements of operations or cash flows. d) New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to the revenue recognition. Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued several amendments to the standards, including clarification on the accounting for licenses of intellectual property and identifying performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The Company will apply the full retrospective approach to adopt the standard but does not anticipate that this standard will have a material impact on its consolidated financial statements. In January 2016, FASB issued a new standard to amend certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most prominent among the amendments is the requirement for changes in fair value of equity investments, with certain exceptions, to be recognized through profit or loss rather than other comprehensive income. The new standard will be effective for the Company beginning September 1, 2018. The standard is not expected to have any impact on the Company’s financial statements. In February 2016 FASB issued ASU No. 2016-02, Leases (Topic 842) which supersedes FASB ASC Topic 840, Leases (Topic 840) and provides principles for the recognition, measurement, presentation, and disclosure of leases for both lessees and the lessors. The new standard requires the lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. The classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of classification. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. When adopted, the Company does not expect this guidance to have a material impact on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. Under ASU 2016-09, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid in capital (“APIC”). Instead, they will record all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement and the APIC pools will be eliminated. In addition, ASU 2016-09 eliminates the requirement that excess tax benefits be realized before companies can recognize them. ASU 2016-09 also requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Furthermore, ASU 2016-09 will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s statutory income tax withholding obligation. An employer with a statutory income tax withholding obligation will now be allowed to withhold shares with the fair value up to the amount of taxes owed using the maximum statutory rate in the employee’s applicable jurisdiction(s). ASU 2016-09 requires a company to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. Under current U.S. GAAP, it is not specified how these cash flows should be classified. In addition, companies will now have to elect whether to account for forfeitures on share-based payments by (1) recognizing forfeiture awards as they occur or (2) estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as in currently required. The amendments of this ASU are effective for annual reporting periods beginning after December 15, 2016, with early adoption permitted but all of the guidance must be adopted in the same period. The Company does not grant non-statutory stock options and, as such, does not expect this guidance to have a material impact on its consolidated financial statements. In June 2016, the FASB issued a new standard to replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss credit loss estimates. For trade and other receivables, loans and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available for sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The new standard will be effective for the Company beginning September 1, 2020, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to deficit as of the effective date. The Company is currently assessing the impact of the standard on its consolidated financial statements. |
MARKETABLE SECURITIES
MARKETABLE SECURITIES | 6 Months Ended |
Feb. 28, 2018 | |
MARKETABLE SECURITIES [Text Block] | 4. MARKETABLE SECURITIES As at February 28, 2018 and August 31, 2017, the Company held no marketable securities. During the six month period ended February 28, 2017, the Company disposed of 156,500 common shares of Lexaria. The proceeds from the sales of sales were $31,097. The Company recorded a gain of $12,317 in profit and loss on the sale of marketable securities. |
LONG TERM INVESTMENTS
LONG TERM INVESTMENTS | 6 Months Ended |
Feb. 28, 2018 | |
LONG TERM INVESTMENTS [Text Block] | 5. LONG TERM INVESTMENTS Global Solar Water Power Systems Inc. (“GSWPS”) During the year ended August 31, 2013, based on the management’s assessment of GSWPS’s current operations, the Company decided to write down long-term investment in GSWPS to $1. Pro Eco Energy USA Ltd. (“Pro Eco Energy”) As at February 28, 2017, Pro Eco Energy announced it will be closing out the company. As a result, the asset was written down to $nil. |
MINERAL PROPERTY
MINERAL PROPERTY | 6 Months Ended |
Feb. 28, 2018 | |
MINERAL PROPERTY [Text Block] | 6. MINERAL PROPERTY During the year ended August 30, 2017 the company staked lode and placer claims on BLM lands in Esmerelda county Nevada covering approximately 160 Acres subject to adjustment. The Company has a 100% interest in the lands and is only responsible for the yearly maintenance fees to keep its 100% interest. The claims are in good standing until August 31, 2018. |
LITHIUM TECHNOLOGY
LITHIUM TECHNOLOGY | 6 Months Ended |
Feb. 28, 2018 | |
LITHIUM TECHNOLOGY [Text Block] | 7. LITHIUM TECHNOLOGY On August 15, 2016, a binding Letter of Intent (“LOI’) was signed by Enertopia and Genesis Water Technologies, Inc. ("GWT") with regard to the acquisition by Enertopia of the exclusive worldwide licensing rights (the "Licensing Rights") by Enertopia of all of the technology used in the process of recovering and extraction of battery grade lithium carbonate powder Li2CO3 grading 99.5% or higher purity from brine solutions. Upon the execution of this LOI, Enertopia issued 250,000 common shares valued at $12,500 to GWT. On December 6, 2016, and amended on October 9, 2017, Enertopia and GWT signed a Definitive Commercial Agreement with regard to the acquisition by Enertopia of the exclusive licensing rights in the United States of America, Argentina, Bolivia and Chile of all of the technology used in the process of recovering and extraction of battery grade lithium carbonate powder Li2CO3 grading 99.5% or higher purity from brine solutions. The following are key points of the terms of the formal Definitive Commercial Agreement: a) Enertopia to pay within 30 days to GWT $10,000 (paid) for the bench testing of four lithium brine samples to confirm the June 2016 feasibility report. During the six month period ended February 28, 2018, the Company signed a Lab Testing Service Agreement with GWT and paid $192,950 for the purpose of additional bench testing services plus materials costs of $8,998. Within 30 days of successful independent 3 rd b) Upon successful test pilot facility results, start the construction of commercial Lithium recovery production facility. c) Upon receipt of a patent for the process for extracting lithium from wastewater, Enertopia will issue 250,000 common shares to GWT. d) GWT has granted Enertopia exclusive rights and relicensing rights to the usage of GWT’s patent pending technology covering United States of America, Argentina, Bolivia and Chile as per the Commercialization Agreement in return for 10 per cent of net sales royalty payments for battery grade Lithium Carbonate Li2CO3 produced. e) In order to maintain its exclusive rights, Enertopia will need to make the following minimal payments to GWT on the anniversary of bench testing achieving 99.5% battery grade Li2CO3 recovery verified by independent laboratory testing: a. On or before the first anniversary, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $50,000 ; b. On or before the second anniversary, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $150,000 ; c. On or before the third anniversary annually until the seventh anniversary, the greater of 10 per cent of Enertopia net Lithium Carbonate Li2CO3 sales from brine sources or $200,000 ; d. Right of first refusal to renew exclusive rights and relicensing rights for another 10 years after the first seven year licensing period on the same net sales terms as those of 2023 or $250,000 per annum. |
RELATED PARTIES TRANSACTION
RELATED PARTIES TRANSACTION | 6 Months Ended |
Feb. 28, 2018 | |
RELATED PARTIES TRANSACTION [Text Block] | 8. RELATED PARTIES TRANSACTION For the six month period ended February 28, 2018, the Company was party to the following related party transactions: • Incurred $21,000 (February 28, 2017: $39,000) to the President of the Company in consulting fees. • Incurred CAD $Nil (February 28, 2017: CAD$45,000) in consulting fees to a company controlled by the former CFO of the Company. • $159,491 (August 31, 2017: $141,035) was payable to the President of the Company. • Incurred share based compensation expenses of $19,523 in relation to stock options issued to a director of the Company (February 28, 2017: $51,070). The related party transactions are recorded at the exchange amount established and agreed to between the related parties. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Feb. 28, 2018 | |
COMMON STOCK [Text Block] | 9. COMMON STOCK On September 23, 2016, the Company closed the final tranche of a private placement of 3,858,571 units at a price of CAD$0.035 per unit for gross proceeds of CAD$135,050 (equivalent of $100,037). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price $0.07. A cash finders’ fee of CAD$4,830 and 138,000 full broker warrants that expire September 23, 2018 was paid to Canaccord Genuity and Leede Jones Gable Inc. On October 7, 2016, the Company issued 175,000 shares with a fair value of $7,000 per the definitive agreement signed on May 12, 2016 to purchase a 100% interest in approximately 2,560 acres of placer mining claims in Churchill, Lander and Nye Counties Nevada, USA. Also see Note 7. The value of the shares was capitalized to Mineral Properties. On January 20, 2017, the Company closed the first tranche of a private placement of 1,000,000 units at a price of CAD$0.04 per unit for gross proceeds of CAD$40,000 (equivalent of $29,630). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.06. A cash finders’ fee of CAD$800 and 20,000 full broker warrants that expire January 20, 2019 was paid to Leede Jones Gable Inc. On February 28, 2017, the Company closed the first tranche of a private placement of 4,250,000 units at a price of CAD$0.04 per unit for gross proceeds of CAD$170,000 (equivalent of $125,926). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.06. A cash finders’ fee of CAD$11,100 and 227,500 full broker warrants that expire February 28, 2019 was paid to Leede Jones Gable Inc., Canaccord Genuity and Duncan McKay. On April 21, 2017, the Company issued 95,500 shares for gross proceeds of $5,685 from the exercise of warrants of previous financings at $0.05 and $0.07. On April 30, 2017, the Company issued 166,500 shares for gross proceeds of $11,655 from the exercise of warrants from a previous financing at $0.07. On April 30, 2017, the Company closed the final tranche of a private placement of 3,224,000 units at a price of CAD$0.09 per unit for gross proceeds of CAD$290,160 (equivalent of $214,933). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.12. A cash finders’ fee of CAD$20,736 and 230,400 full broker warrants that expire April 28, 2019 was paid to Leede Jones Gable and Canaccord Genuity. On November 1, 2017, the Company closed the first tranche of a private placement of 2,600,000 units at a price of CAD$0.05 per unit for gross proceeds of CAD$130,000 (equivalent of $101,198). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.06. On December 8, 2017, the Company closed the second tranche of a private placement of 3,954,000 units at a price of CAD$0.05 per unit for gross proceeds of CAD$197,700 (equivalent of $150,443). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.06. A cash finder’s fee of CAD$12,770 and 230,400 broker warrants was paid to a third party. The broker warrants have the same terms as the warrants issued as part of the unit offering. On January 12, 2018, the Company closed the final tranche of a private placement of 1,611,000 units at a price of CAD$0.05 per unit for gross proceeds of CAD$80,550 (equivalent of $62,760). Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 24 months from the date of issuance, at a purchase price of $0.06. A cash finder’s fee of CAD$3,880 and 77,600 broker warrants was paid to a third party. The broker warrants have the same terms as the warrants issued as part of the unit offering. As at February 28, 2018 the Company had 110,753,031 shares issued and outstanding and as at August 31, 2017, the Company had 102,298,031 shares issued and outstanding. |
STOCK OPTIONS AND WARRANTS
STOCK OPTIONS AND WARRANTS | 6 Months Ended |
Feb. 28, 2018 | |
STOCK OPTIONS AND WARRANTS [Text Block] | 10. STOCK OPTIONS AND WARRANTS Stock Options On July 15, 2014, the shareholders approved and adopted at the Annual General Meeting the Company’s 2014 Stock Option Plan. On April 14, 2011, the shareholders approved and adopted at the Annual General Meeting to consolidate the Company’s 2007 Equity compensation plan and the Company’s 2010 Equity Compensation Plan into a new Company 2011 Stock Option Plan. The purpose of these Plans is to advance the interests of the Corporation, through the grant of Options, by providing an incentive mechanism to foster the interest of eligible persons in the success of the Corporation and its affiliates; encouraging eligible persons to remain with the Corporation or its affiliates; and attracting new Directors, Officers, Employees and Consultants. On October 23, 2015, the Company granted 1,850,000 stock options to directors, officers and consultant of the Company with an exercise price of $0.05 vested immediately, expiring October 23, 2020. On February 4, 2016, the Company granted 100,000 stock options to Advisor of the Board of the Company with an exercise price of $0.05 vested immediately, expiring February 4, 2021. On September 19, 2016, the Company granted 800,000 stock options to consultant of the Company with an exercise price of $0.07 vested immediately, expiring September 19, 2021. On January 20, 2017, the Company granted 1,535,000 stock options to directors, officers and consultant of the Company with an exercise price of $0.07 vested immediately, expiring January 20, 2022. On January 31, 2017, the Company granted 1,500,000 stock options to consultant of the Company with an exercise price of $0.07 vested immediately, expiring January 31, 2022. On May 2, 2017, the Company granted 500,000 stock options to consultant of the Company with an exercise price of $0.10, vested immediately, expiring May 2, 2022. On November 1, 2017, the Company granted 800,000 stock options to a director and consultant of the Company with an exercise price of $0.05, expiring November 2, 2022. For the six month period ended February 28, 2018, the Company recorded $31,237 (February 28, 2017 – $164,392) stock based compensation expenses. A summary of the changes in stock options for the six months ended February 28, 2018 is presented below: Options Outstanding Weighted Average Number of Shares Exercise Price Balance, August 31, 2017 7,295,000 $ 0.07 Granted 800,000 0.05 Exercised (240,000 ) 0.05 Balance, February 28, 2018 7,855,000 $ 0.07 The fair value of options granted has been estimated as of the date of the grant by using the Black-Scholes option pricing model with the following assumptions: February 28, 2018 February 28, 2017 Expected volatility 204% 139%- 147% Risk-free interest rate 2.03% 1.22%- 1.95% Expected life 5.00 years 5.00 years Dividend yield 0.00% 0.00% Estimated fair value per option $0.04 $0.03 -$0.04 The Company has the following options outstanding and exercisable. February 28, 2018 Options outstanding and exercisable Number Remaining Exercise prices of shares contractual life $0.05 800,000 4.66 years $0.10 500,000 4.18 years $0.07 1,500,000 3.93 years $0.07 1,535,000 3.90 years $0.07 800,000 3.56 years $0.05 1,220,000 2.65 years $0.10 1,000,000 1.68 years $0.06 500,000 0.68 years 7,855,000 3.15 years August 31, 2017 Options outstanding and exercisable Number Remaining Exercise prices of shares contractual life $0.10 500,000 4.67 years $0.07 1,500,000 4.42 years $0.07 1,535,000 4.39 years $0.07 800,000 4.05 years $0.05 1,460,000 3.15 years $0.10 1,000,000 2.18 years $0.06 500,000 1.18 years 7,295,000 3.43 years *The aggregate intrinsic value for options outstanding and exercisable as at February 28, 2018 was $Nil. Warrants On December 16, 2015, the Company submitted to the CSE the Form 13 for extending two classes of warrants by two years with all other terms and conditions remaining the same. The Company approved the expiry extension from January 31, 2016 till January 31, 2018 on 2,167,160 warrants that expired unexercised during the six month period ended February28, 2018 from the non-brokered private placement that closed on January 31, 2014. The Company approved the expiry extension from February 13, 2016 until February 13, 2018 on 7,227,340 warrants that expired unexercised during the six month period ended February28, 2018 from the non-brokered private placement that closed on February 13, 2014. The warrants were evaluated against ASC 815 Derivatives and Hedging, and determined to be equity instrument at initial recognition. On February 28, 2017, the Company signed a Letter of Engagement with Adam Mogil and issued 1,000,000 warrant options to convert to 1,000,000 common shares to Adam Mogil to provide corporate services. The warrants have an exercise price of $0.09 and expire August 28, 2017. The fair value of the warrants granted has been estimated as of the date of the grant by using the Black-Scholes option pricing model with the following assumptions: expected volatility: 182%, risk-free interest rate: 1.22%, expected life: 0.50 years, dividend yield: 0.00% . The Company has recorded $29,168 in stock based compensation expense. On April 21, 2017, the Company issued 95,500 shares for gross proceeds of $5,685 from the exercise of warrants of previous financings at $0.05 and $0.07. On April 30, 2017, the Company issued 166,500 shares for gross proceeds of $11,655 from the exercise of warrants from a previous financing at $0.07. During the year ended August 31, 2017, the Company issued 12,332,571 warrants attached to units issued in multiple private placements, see Note 9 for disclosure of individual amounts and terms of warrants by private placement. In addition, the Company issued 615,900 brokers warrants in connection with these private placements, also disclosed in Note 9. The fair value of the brokers warrants was $33,213, recorded as share issuance costs off-setting the gross proceeds of private placements in additional-paid-in-capital, and was calculated using the Black Scholes option pricing model, with the following weighted average assumptions: expected volatility 168%, risk-free interest rate: 1.14%, expected life: 2 years, dividend yield: 0.00% . During the six-month period ended February 28, 2018, the Company issued 8,165,000 warrants attached to units in a private placement and 308,000 broker warrants in connection with the private placement, see Note 9 for disclosure of the terms of the warrants. The fair value of the brokers warrants was $10,774, recorded as share issuance costs off-setting the gross proceeds of private placements in additional-paid-in-capital, and was calculated using the Black Scholes option pricing model, with the following weighted average assumptions: expected volatility 150%, risk-free interest rate: 1.85%, expected life: 2 years, dividend yield: 0.00% . A summary of warrants as at February 28, 2018 and August 31, 2017 is as follows: Warrant Outstanding Weighted Average Number of warrant Exercise Price Balance, August 31, 2017 39,191,810 $ 0.09 Expired (11,182,140 ) 0.14 Issued 8,473,000 0.06 Exercised (50,000 ) 0.07 Balance, February 28, 2018 36,432,670 $ 0.07 Number Exercise Expiry Outstanding 1 Price Date 1,688,600 $0.06 January 12, 2020 4,184,400 $0.06 December 8, 2019 2,600,000 $0.06 November 1, 2019 3,454,400 $0.12 April 28, 2019 4,477,500 $0.06 February 28, 2019 1,020,000 $0.06 January 20,2019 637,200 $0.10 and $0.15 after 24 months March 12, 2018 6,882,666 $0.05 and $0.10 after 18 months May 20, 2019 3,253,333 $0.05 and $0.10 after 18 months June 8, 2019 4,288,000 $0.07 August 9, 2018 3,946,571 $0.07 September 23, 2018 36,432,670 1. Each warrant entitles a holder to purchase one common share. |
COMMITMENTS - OTHER
COMMITMENTS - OTHER | 6 Months Ended |
Feb. 28, 2018 | |
COMMITMENTS - OTHER [Text Block] | 11. COMMITMENTS - OTHER (a) The Company has a consulting agreement with the President of the Company for corporate administration and consulting services for $5,000 per month plus goods and services tax (“GST”) on a continuing basis. Effective March 1, 2014, the Company entered into a new consulting contract with the consulting services at $6,500 per month plus GST. Effective July 1, 2017, the Company entered into a new consulting contract for consulting service at $3,500 per month plus GST. (b) On September 19, 2016, the Company entered into a one year Investor Relations Consulting agreement with Duncan McKay. Based on the terms of the agreement, Mr. McKay can earn up to a maximum of 10% commissions on capital raised. |
SEGMENTED INFORMATION
SEGMENTED INFORMATION | 6 Months Ended |
Feb. 28, 2018 | |
SEGMENTED INFORMATION [Text Block] | 12. SEGMENTED INFORMATION As at February 28, 2018 and August 31, 2017, the Company is operating its business in one reportable segment: natural resource acquisitions. All of the Company’s material long-lived assets are located in the United States. |
COMPARATIVE FIGURES
COMPARATIVE FIGURES | 6 Months Ended |
Feb. 28, 2018 | |
COMPARATIVE FIGURES [Text Block] | 13. COMPARATIVE FIGURES Certain comparative figures have been reclassified to conform to the current period's presentation. These reclassifications did not affect prior periods' net losses. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Feb. 28, 2018 | |
Basis of Presentation [Policy Text Block] | a) Basis of Presentation The accompanying unaudited condensed interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and the instructions to Securities and Exchange Commission (“SEC”) Form 10-Q and Article 10 of SEC Regulation S-X. They do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended August 31, 2017. |
Accounting Estimates [Policy Text Block] | b) Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, we evaluate our estimates, judgments, and assumptions, including those related to revenue recognition, inventory valuation, and stock based compensation (expense and liability). Our estimates, judgments, and assumptions are based on historical experience, future expectations, and other factors which we believe to be reasonable. Actual results could differ from those estimates and assumptions. |
Recently Adopted Accounting Pronouncements [Policy Text Block] | c) Recently Adopted Accounting Pronouncements In May 2015, the FASB issued guidance to remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using net asset value per share practical expedient. The guidance is effective for the Company in the first quarter of fiscal 2017 and early adoption is permitted. Adoption of the new guidance, effective for the quarter beginning September 1, 2017, had no impact on the Company’s balance sheets or statements of operations or cash flows. |
New Accounting Pronouncements [Policy Text Block] | d) New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to the revenue recognition. Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has recently issued several amendments to the standards, including clarification on the accounting for licenses of intellectual property and identifying performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The Company will apply the full retrospective approach to adopt the standard but does not anticipate that this standard will have a material impact on its consolidated financial statements. In January 2016, FASB issued a new standard to amend certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. Most prominent among the amendments is the requirement for changes in fair value of equity investments, with certain exceptions, to be recognized through profit or loss rather than other comprehensive income. The new standard will be effective for the Company beginning September 1, 2018. The standard is not expected to have any impact on the Company’s financial statements. In February 2016 FASB issued ASU No. 2016-02, Leases (Topic 842) which supersedes FASB ASC Topic 840, Leases (Topic 840) and provides principles for the recognition, measurement, presentation, and disclosure of leases for both lessees and the lessors. The new standard requires the lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. The classification will determine whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than twelve months regardless of classification. Leases with a term of twelve months or less will be accounted for similar to existing guidance for operating leases. The standard is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted upon issuance. When adopted, the Company does not expect this guidance to have a material impact on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. Under ASU 2016-09, companies will no longer record excess tax benefits and certain tax deficiencies in additional paid in capital (“APIC”). Instead, they will record all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement and the APIC pools will be eliminated. In addition, ASU 2016-09 eliminates the requirement that excess tax benefits be realized before companies can recognize them. ASU 2016-09 also requires companies to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. Furthermore, ASU 2016-09 will increase the amount an employer can withhold to cover income taxes on awards and still qualify for the exception to liability classification for shares used to satisfy the employer’s statutory income tax withholding obligation. An employer with a statutory income tax withholding obligation will now be allowed to withhold shares with the fair value up to the amount of taxes owed using the maximum statutory rate in the employee’s applicable jurisdiction(s). ASU 2016-09 requires a company to classify the cash paid to a tax authority when shares are withheld to satisfy its statutory income tax withholding obligation as a financing activity on the statement of cash flows. Under current U.S. GAAP, it is not specified how these cash flows should be classified. In addition, companies will now have to elect whether to account for forfeitures on share-based payments by (1) recognizing forfeiture awards as they occur or (2) estimating the number of awards expected to be forfeited and adjusting the estimate when it is likely to change, as in currently required. The amendments of this ASU are effective for annual reporting periods beginning after December 15, 2016, with early adoption permitted but all of the guidance must be adopted in the same period. The Company does not grant non-statutory stock options and, as such, does not expect this guidance to have a material impact on its consolidated financial statements. In June 2016, the FASB issued a new standard to replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss credit loss estimates. For trade and other receivables, loans and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available for sale debt securities will also be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The new standard will be effective for the Company beginning September 1, 2020, with early adoption permitted. Application of the amendments is through a cumulative-effect adjustment to deficit as of the effective date. The Company is currently assessing the impact of the standard on its consolidated financial statements. |
STOCK OPTIONS AND WARRANTS (Tab
STOCK OPTIONS AND WARRANTS (Tables) | 6 Months Ended | 12 Months Ended |
Feb. 28, 2018 | Aug. 31, 2017 | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Weighted Average Number of Shares Exercise Price Balance, August 31, 2017 7,295,000 $ 0.07 Granted 800,000 0.05 Exercised (240,000 ) 0.05 Balance, February 28, 2018 7,855,000 $ 0.07 | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | February 28, 2018 February 28, 2017 Expected volatility 204% 139%- 147% Risk-free interest rate 2.03% 1.22%- 1.95% Expected life 5.00 years 5.00 years Dividend yield 0.00% 0.00% Estimated fair value per option $0.04 $0.03 -$0.04 | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Options outstanding and exercisable Number Remaining Exercise prices of shares contractual life $0.05 800,000 4.66 years $0.10 500,000 4.18 years $0.07 1,500,000 3.93 years $0.07 1,535,000 3.90 years $0.07 800,000 3.56 years $0.05 1,220,000 2.65 years $0.10 1,000,000 1.68 years $0.06 500,000 0.68 years 7,855,000 3.15 years | Options outstanding and exercisable Number Remaining Exercise prices of shares contractual life $0.10 500,000 4.67 years $0.07 1,500,000 4.42 years $0.07 1,535,000 4.39 years $0.07 800,000 4.05 years $0.05 1,460,000 3.15 years $0.10 1,000,000 2.18 years $0.06 500,000 1.18 years 7,295,000 3.43 years |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Warrant Outstanding Weighted Average Number of warrant Exercise Price Balance, August 31, 2017 39,191,810 $ 0.09 Expired (11,182,140 ) 0.14 Issued 8,473,000 0.06 Exercised (50,000 ) 0.07 Balance, February 28, 2018 36,432,670 $ 0.07 | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number Exercise Expiry Outstanding 1 Price Date 1,688,600 $0.06 January 12, 2020 4,184,400 $0.06 December 8, 2019 2,600,000 $0.06 November 1, 2019 3,454,400 $0.12 April 28, 2019 4,477,500 $0.06 February 28, 2019 1,020,000 $0.06 January 20,2019 637,200 $0.10 and $0.15 after 24 months March 12, 2018 6,882,666 $0.05 and $0.10 after 18 months May 20, 2019 3,253,333 $0.05 and $0.10 after 18 months June 8, 2019 4,288,000 $0.07 August 9, 2018 3,946,571 $0.07 September 23, 2018 36,432,670 |
GOING CONCERN UNCERTAINTY (Narr
GOING CONCERN UNCERTAINTY (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018USD ($) | |
Going Concern Uncertainty 1 | $ 289,256 |
Going Concern Uncertainty 2 | 250,029 |
Going Concern Uncertainty 3 | 392,889 |
Going Concern Uncertainty 4 | 391,242 |
Going Concern Uncertainty 5 | $ 13,634,652 |
MARKETABLE SECURITIES (Narrativ
MARKETABLE SECURITIES (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018USD ($)shares | |
Marketable Securities 1 | shares | 156,500 |
Marketable Securities 2 | $ 31,097 |
Marketable Securities 3 | $ 12,317 |
LONG TERM INVESTMENTS (Narrativ
LONG TERM INVESTMENTS (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018USD ($) | |
Long Term Investments 1 | $ 1 |
Long Term Investments 2 | $ 0 |
MINERAL PROPERTY (Narrative) (D
MINERAL PROPERTY (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018 | |
Mineral Property 1 | 100.00% |
Mineral Property 2 | 100.00% |
LITHIUM TECHNOLOGY (Narrative)
LITHIUM TECHNOLOGY (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018USD ($)dyrshares | |
Lithium Technology 1 | 99.50% |
Lithium Technology 2 | shares | 250,000 |
Lithium Technology 3 | $ 12,500 |
Lithium Technology 4 | 99.50% |
Lithium Technology 5 | d | 30 |
Lithium Technology 6 | $ 10,000 |
Lithium Technology 7 | 192,950 |
Lithium Technology 8 | $ 8,998 |
Lithium Technology 9 | d | 30 |
Lithium Technology 10 | shares | 250,000 |
Lithium Technology 11 | shares | 250,000 |
Lithium Technology 12 | 10.00% |
Lithium Technology 13 | 99.50% |
Lithium Technology 14 | 10.00% |
Lithium Technology 15 | $ 50,000 |
Lithium Technology 16 | 10.00% |
Lithium Technology 17 | $ 150,000 |
Lithium Technology 18 | 10.00% |
Lithium Technology 19 | $ 200,000 |
Lithium Technology 20 | yr | 10 |
Lithium Technology 21 | $ 250,000 |
RELATED PARTIES TRANSACTION (Na
RELATED PARTIES TRANSACTION (Narrative) (Details) - 6 months ended Feb. 28, 2018 | USD ($) | CAD ($) |
Related Parties Transaction 1 | $ 21,000 | |
Related Parties Transaction 2 | 39,000 | |
Related Parties Transaction 3 | 0 | |
Related Parties Transaction 4 | $ 45,000 | |
Related Parties Transaction 5 | 159,491 | |
Related Parties Transaction 6 | 141,035 | |
Related Parties Transaction 7 | 19,523 | |
Related Parties Transaction 8 | $ 51,070 |
COMMON STOCK (Narrative) (Detai
COMMON STOCK (Narrative) (Details) - 6 months ended Feb. 28, 2018 | USD ($)moshares | CAD ($)mo$ / sharesshares |
Common Stock 1 | shares | 3,858,571 | 3,858,571 |
Common Stock 2 | $ / shares | $ 0.035 | |
Common Stock 3 | $ 135,050 | |
Common Stock 4 | $ 100,037 | |
Common Stock 5 | mo | 24 | 24 |
Common Stock 6 | $ 0.07 | |
Common Stock 7 | $ 4,830 | |
Common Stock 8 | 138,000 | 138,000 |
Common Stock 9 | shares | 175,000 | 175,000 |
Common Stock 10 | $ 7,000 | |
Common Stock 11 | 100.00% | 100.00% |
Common Stock 12 | shares | 1,000,000 | 1,000,000 |
Common Stock 13 | $ / shares | $ 0.04 | |
Common Stock 14 | $ 40,000 | |
Common Stock 15 | $ 29,630 | |
Common Stock 16 | mo | 24 | 24 |
Common Stock 17 | $ 0.06 | |
Common Stock 18 | $ 800 | |
Common Stock 19 | 20,000 | 20,000 |
Common Stock 20 | shares | 4,250,000 | 4,250,000 |
Common Stock 21 | $ / shares | $ 0.04 | |
Common Stock 22 | $ 170,000 | |
Common Stock 23 | $ 125,926 | |
Common Stock 24 | mo | 24 | 24 |
Common Stock 25 | $ 0.06 | |
Common Stock 26 | $ 11,100 | |
Common Stock 27 | 227,500 | 227,500 |
Common Stock 28 | shares | 95,500 | 95,500 |
Common Stock 29 | $ 5,685 | |
Common Stock 30 | 0.05 | |
Common Stock 31 | $ 0.07 | |
Common Stock 32 | shares | 166,500 | 166,500 |
Common Stock 33 | $ 11,655 | |
Common Stock 34 | $ 0.07 | |
Common Stock 35 | shares | 3,224,000 | 3,224,000 |
Common Stock 36 | $ / shares | $ 0.09 | |
Common Stock 37 | $ 290,160 | |
Common Stock 38 | $ 214,933 | |
Common Stock 39 | mo | 24 | 24 |
Common Stock 40 | $ 0.12 | |
Common Stock 41 | $ 20,736 | |
Common Stock 42 | 230,400 | 230,400 |
Common Stock 43 | shares | 2,600,000 | 2,600,000 |
Common Stock 44 | $ / shares | $ 0.05 | |
Common Stock 45 | $ 130,000 | |
Common Stock 46 | $ 101,198 | |
Common Stock 47 | mo | 24 | 24 |
Common Stock 48 | $ 0.06 | |
Common Stock 49 | shares | 3,954,000 | 3,954,000 |
Common Stock 50 | $ / shares | $ 0.05 | |
Common Stock 51 | $ 197,700 | |
Common Stock 52 | $ 150,443 | |
Common Stock 53 | mo | 24 | 24 |
Common Stock 54 | $ 0.06 | |
Common Stock 55 | $ 12,770 | |
Common Stock 56 | shares | 230,400 | 230,400 |
Common Stock 57 | shares | 1,611,000 | 1,611,000 |
Common Stock 58 | $ / shares | $ 0.05 | |
Common Stock 59 | $ 80,550 | |
Common Stock 60 | $ 62,760 | |
Common Stock 61 | mo | 24 | 24 |
Common Stock 62 | $ 0.06 | |
Common Stock 63 | $ 3,880 | |
Common Stock 64 | shares | 77,600 | 77,600 |
Common Stock 65 | shares | 110,753,031 | 110,753,031 |
Common Stock 66 | shares | 102,298,031 | 102,298,031 |
STOCK OPTIONS AND WARRANTS (Nar
STOCK OPTIONS AND WARRANTS (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018USD ($)yrshares | |
Stock Options And Warrants 1 | shares | 1,850,000 |
Stock Options And Warrants 2 | $ 0.05 |
Stock Options And Warrants 3 | shares | 100,000 |
Stock Options And Warrants 4 | $ 0.05 |
Stock Options And Warrants 5 | shares | 800,000 |
Stock Options And Warrants 6 | $ 0.07 |
Stock Options And Warrants 7 | shares | 1,535,000 |
Stock Options And Warrants 8 | $ 0.07 |
Stock Options And Warrants 9 | shares | 1,500,000 |
Stock Options And Warrants 10 | $ 0.07 |
Stock Options And Warrants 11 | shares | 500,000 |
Stock Options And Warrants 12 | $ 0.10 |
Stock Options And Warrants 13 | shares | 800,000 |
Stock Options And Warrants 14 | $ 0.05 |
Stock Options And Warrants 15 | 31,237 |
Stock Options And Warrants 16 | 164,392 |
Stock Options And Warrants 17 | $ 0 |
Stock Options And Warrants 18 | shares | 2,167,160 |
Stock Options And Warrants 19 | shares | 7,227,340 |
Stock Options And Warrants 20 | shares | 1,000,000 |
Stock Options And Warrants 21 | shares | 1,000,000 |
Stock Options And Warrants 22 | $ 0.09 |
Stock Options And Warrants 23 | 182.00% |
Stock Options And Warrants 24 | 1.22% |
Stock Options And Warrants 25 | yr | 0.5 |
Stock Options And Warrants 26 | 0.00% |
Stock Options And Warrants 27 | $ 29,168 |
Stock Options And Warrants 28 | shares | 95,500 |
Stock Options And Warrants 29 | $ 5,685 |
Stock Options And Warrants 30 | 0.05 |
Stock Options And Warrants 31 | $ 0.07 |
Stock Options And Warrants 32 | shares | 166,500 |
Stock Options And Warrants 33 | $ 11,655 |
Stock Options And Warrants 34 | $ 0.07 |
Stock Options And Warrants 35 | shares | 12,332,571 |
Stock Options And Warrants 36 | shares | 615,900 |
Stock Options And Warrants 37 | $ 33,213 |
Stock Options And Warrants 38 | 168.00% |
Stock Options And Warrants 39 | 1.14% |
Stock Options And Warrants 40 | yr | 2 |
Stock Options And Warrants 41 | 0.00% |
Stock Options And Warrants 42 | shares | 8,165,000 |
Stock Options And Warrants 43 | shares | 308,000 |
Stock Options And Warrants 44 | $ 10,774 |
Stock Options And Warrants 45 | 150.00% |
Stock Options And Warrants 46 | 1.85% |
Stock Options And Warrants 47 | yr | 2 |
Stock Options And Warrants 48 | 0.00% |
COMMITMENTS - OTHER (Narrative)
COMMITMENTS - OTHER (Narrative) (Details) | 6 Months Ended |
Feb. 28, 2018$ / mo | |
Commitments - Other 1 | 5,000 |
Commitments - Other 2 | 6,500 |
Commitments - Other 3 | 3,500 |
Commitments - Other 4 | 10.00% |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 6 Months Ended |
Feb. 28, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning of Period | shares | 7,295,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ / shares | $ 0.07 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares | 800,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.05 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | (240,000) |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | $ 0.05 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, End of Period | shares | 7,855,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, End of Period | $ / shares | $ 0.07 |
Schedule of Share-based Payment
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - USD ($) | 6 Months Ended | |
Feb. 28, 2018 | Feb. 28, 2017 | |
Expected volatility | 204.00% | |
Risk-free interest rate | 2.03% | |
Expected life | 5 years | 5 years |
Dividend yield | 0.00% | 0.00% |
Estimated fair value per option | $ 0.04 | |
Minimum [Member] | ||
Expected volatility | 139.00% | |
Risk-free interest rate | 1.22% | |
Estimated fair value per option | $ 0.03 | |
Maximum [Member] | ||
Expected volatility | 147.00% | |
Risk-free interest rate | 1.95% | |
Estimated fair value per option | $ 0.04 |
Disclosure of Share-based Compe
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Feb. 28, 2018 | Aug. 31, 2017 | |
Exercise prices | $ 0.07 | $ 0.07 |
Number of shares | 7,855,000 | 7,295,000 |
Remaining contractual life | 3 years 1 month 24 days | 3 years 5 months 5 days |
Option exercise price 1 [Member] | ||
Exercise prices | $ 0.05 | $ 0.10 |
Number of shares | 800,000 | 500,000 |
Remaining contractual life | 4 years 7 months 28 days | 4 years 8 months 1 day |
Option exercise price 2 [Member] | ||
Exercise prices | $ 0.10 | $ 0.07 |
Number of shares | 500,000 | 1,500,000 |
Remaining contractual life | 4 years 2 months 5 days | 4 years 5 months 1 day |
Option exercise price 3 [Member] | ||
Exercise prices | $ 0.07 | $ 0.07 |
Number of shares | 1,500,000 | 1,535,000 |
Remaining contractual life | 3 years 11 months 5 days | 4 years 4 months 20 days |
Option exercise price 4 [Member] | ||
Exercise prices | $ 0.07 | $ 0.07 |
Number of shares | 1,535,000 | 800,000 |
Remaining contractual life | 3 years 10 months 24 days | 4 years 18 days |
Option exercise price 5 [Member] | ||
Exercise prices | $ 0.07 | $ 0.05 |
Number of shares | 800,000 | 1,460,000 |
Remaining contractual life | 3 years 6 months 22 days | 3 years 1 month 24 days |
Option exercise price 6 [Member] | ||
Exercise prices | $ 0.05 | $ 0.10 |
Number of shares | 1,220,000 | 1,000,000 |
Remaining contractual life | 2 years 7 months 24 days | 2 years 2 months 5 days |
Option exercise price 7 [Member] | ||
Exercise prices | $ 0.10 | $ 0.06 |
Number of shares | 1,000,000 | 500,000 |
Remaining contractual life | 1 year 8 months 5 days | 1 year 2 months 5 days |
Option exercise price 8 [Member] | ||
Exercise prices | $ 0.06 | |
Number of shares | 500,000 | |
Remaining contractual life | 8 months 5 days |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 6 Months Ended |
Feb. 28, 2018$ / sharesshares | |
Class of Warrant or Right, Outstanding, Beginning of Period | shares | 39,191,810 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, Beginning of Period | $ / shares | $ 0.09 |
Class of Warrant or Right, Expirations in Period | shares | (11,182,140) |
Class of Warrant or Right, Expirations in Period, Weighted Average Exercise Price | $ / shares | $ 0.14 |
Class of Warrant or Right, Grants in Period, Net of Forfeitures | shares | 8,473,000 |
Class of Warrant or Right, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.06 |
Class of Warrant or Right, Exercises in Period | shares | (50,000) |
Class of Warrant or Right, Exercises in Period, Weighted Average Exercise Price | $ / shares | $ 0.07 |
Class of Warrant or Right, Outstanding, End of Period | shares | 36,432,670 |
Class of Warrant or Right, Outstanding, Weighted Average Exercise Price, End of Period | $ / shares | $ 0.07 |
Schedule of Stockholders' Equ35
Schedule of Stockholders' Equity Note, Warrants or Rights (Details) - $ / shares | Feb. 28, 2018 | Aug. 31, 2017 |
Number Outstanding | 36,432,670 | 39,191,810 |
Warrant exercise price 1 [Member] | ||
Number Outstanding | 1,688,600 | |
Exercise Price | $ 0.06 | |
Warrant exercise price 2 [Member] | ||
Number Outstanding | 4,184,400 | |
Exercise Price | $ 0.06 | |
Warrant exercise price 3 [Member] | ||
Number Outstanding | 2,600,000 | |
Exercise Price | $ 0.06 | |
Warrant exercise price 4 [Member] | ||
Number Outstanding | 3,454,400 | |
Exercise Price | $ 0.12 | |
Warrant exercise price 5 [Member] | ||
Number Outstanding | 4,477,500 | |
Exercise Price | $ 0.06 | |
Warrant exercise price 6 [Member] | ||
Number Outstanding | 1,020,000 | |
Exercise Price | $ 0.06 | |
Warrant exercise price 7 [Member] | ||
Number Outstanding | 637,200 | |
Exercise Price | $ 0.10 | |
Warrant exercise price 7 [Member] | after 24 months [Member] | ||
Exercise Price | $ 0.15 | |
Warrant exercise price 8 [Member] | ||
Number Outstanding | 6,882,666 | |
Exercise Price | $ 0.05 | |
Warrant exercise price 8 [Member] | after 18 months [Member] | ||
Exercise Price | $ 0.10 | |
Warrant exercise price 9 [Member] | ||
Number Outstanding | 3,253,333 | |
Exercise Price | $ 0.05 | |
Warrant exercise price 9 [Member] | after 18 months [Member] | ||
Exercise Price | $ 0.10 | |
Warrant exercise price 10 [Member] | ||
Number Outstanding | 4,288,000 | |
Exercise Price | $ 0.07 | |
Warrant exercise price 11 [Member] | ||
Number Outstanding | 3,946,571 | |
Exercise Price | $ 0.07 |