Texas Mineral Resources (TMRC) 10-Q 15 Jul 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	May 31, 2022	Jul. 07, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 31, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--08-31
Entity File Number	000-53482
Entity Registrant Name	TEXAS MINERAL RESOURCES CORP.
Entity Central Index Key	0001445942
Entity Tax Identification Number	87-0294969
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	539 El Paso Street
Entity Address, City or Town	Sierra Blanca
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79851
City Area Code	915
Local Phone Number	369-2133
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,863,221

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	May 31, 2022	Aug. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 3,541,914	$ 5,106,653
Prepaid expenses and other current assets	41,523	73,029
Total current assets	3,583,437	5,179,682
Property and equipment, net	25,598	30,834
Mineral properties, net	416,206	181,755
Deposits	7,500	12,620
TOTAL ASSETS	4,032,741	5,404,891
CURRENT LIABILITIES
Accounts payable and accrued liabilities	265,354	191,394
Advances due to related party	5,000	10,000
Total current liabilities	270,354	201,394
Total liabilities	270,354	201,394
SHAREHOLDERS’ EQUITY
Preferred stock, par value $0.001; 10,000,000 shares authorized, no shares issued and oustanding as of May 31, 2022 and August 31, 2021
Common stock, par value $0.01; 100,000,000 shares authorized, 72,752,453 and 71,934,065 shares issued and oustanding as of May 31, 2022 and August 31, 2021, respectively	727,525	719,341
Additional paid-in capital	41,966,768	41,332,478
Accumulated deficit	(38,931,906)	(36,848,322)
Total shareholders’ equity	3,762,387	5,203,497
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 4,032,741	$ 5,404,891

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	May 31, 2022	Aug. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Outstanding	72,752,453	71,934,065
Common Stock, Shares, Issued	72,752,453	71,934,065

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2022	May 31, 2021	May 31, 2022	May 31, 2021
OPERATING EXPENSES
Exploration costs	$ 519,853	$ 63,408	$ 1,101,604	$ 159,755
General and administrative expenses	295,360	345,307	986,642	1,080,184
Total operating expenses	815,213	408,715	2,088,246	1,239,939
LOSS FROM OPERATIONS	(815,213)	(408,715)	(2,088,246)	(1,239,939)
OTHER INCOME (EXPENSE)
Gain on sale of interest in mineral properties		3,326,899		3,326,899
Grant income, net of grant related expenses			93	11,078
Other income (expense)	1,203	716	4,569	4,067
Total other income (expense)	1,203	3,327,615	4,662	3,342,044
NET INCOME (LOSS)	$ (814,010)	$ 2,918,900	$ (2,083,584)	$ 2,102,105
Net income (loss) per share:
Basic	$ (0.01)	$ 0.04	$ (0.03)	$ 0.03
Diluted	$ (0.01)	$ 0.04	$ (0.03)	$ 0.03
Weighted average shares outstanding:
Basic	72,410,326	71,697,503	72,259,396	71,558,951
Diluted	72,410,326	73,051,883	72,259,396	72,844,871

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASHFLOWS (Unaudited) - USD ($)	9 Months Ended
	May 31, 2022	May 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (2,083,584)	$ 2,102,105
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock based compensation	136,505	606,107
Common stock and stock options issued for services	267,469
Gain on sale of interest in mineral properties		(3,326,899)
Depreciation expense	5,236	2,327
Changes in current assets and liabilities:
Prepaid expenses and other current assets	31,506	67,349
Accounts payable and accrued liabilities	68,960	(265,712)
Net cash used in operating activities	(1,573,908)	(814,723)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of interest in mineral properties		3,000,000
Purchases of property and equipment		(34,907)
Purchases of mineral properties	(234,451)	(212,444)
Refund (payment) of deposit	5,120	(5,120)
Net cash (used in) provided by investing activities	(229,331)	2,747,529
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related parties		148,826
Proceeds from exercise of common stock warrants and options	238,500	81,300
Net cash provided by financing activities	238,500	230,126
NET CHANGE IN CASH AND CASH EQUIVALENTS	(1,564,739)	2,162,932
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	5,106,653	2,746,451
CASH AND CASH EQUIVALENTS, END OF PERIOD	3,541,914	4,909,383
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid
Taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued as payment of accrued expenses		92,500
Advances from related parties assumed in sale of interest in mineral properties		$ 729,227

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Aug. 31, 2020		$ 713,233	$ 40,376,847	$ (38,892,524)	$ 2,197,556
Beginning balance, shares at Aug. 31, 2020		71,323,278
Stock based compensation			190,367		190,367
Common stock issued as payment of accrued director’s fees		$ 619	91,881		92,500
Common stock issued as payment of accrued director's fees, shares		61,936
Warrant conversion			24,500		24,500
Net income (loss)				(339,683)	(339,683)
Ending balance, value at Nov. 30, 2020		$ 713,852	40,683,595	(39,232,207)	2,165,240
Ending balance, shares at Nov. 30, 2020		71,385,214
Beginning balance, value at Aug. 31, 2020		$ 713,233	40,376,847	(38,892,524)	2,197,556
Beginning balance, shares at Aug. 31, 2020		71,323,278
Net income (loss)					2,102,105
Ending balance, value at May. 31, 2021		$ 719,040	41,150,947	(36,790,419)	5,079,568
Ending balance, shares at May. 31, 2021		71,904,028
Beginning balance, value at Nov. 30, 2020		$ 713,852	40,683,595	(39,232,207)	2,165,240
Beginning balance, shares at Nov. 30, 2020		71,385,214
Stock based compensation		$ 400	203,922		204,322
Stock based compensation, shares		40,042
Cashless exercise of warrants and options		$ 1,696	(1,696)
Cashless exercise of warrants and options, shares		169,506
Issuance of common stock previously unissued		$ 700	(700)
Issuance of common stock previously unissued, shares		70,000
Net income (loss)				(477,112)	(477,112)
Ending balance, value at Feb. 28, 2021		$ 716,648	40,885,121	(39,709,319)	1,892,450
Ending balance, shares at Feb. 28, 2021		71,664,762
Stock based compensation		$ 132	211,286		211,418
Stock based compensation, shares		13,266
Common stock issued upon exercise of options and warrants		$ 2,260	54,540		56,800
Common stock issued upon exercise of options and warrants, shares		226,000
Net income (loss)				2,918,900	2,918,900
Ending balance, value at May. 31, 2021		$ 719,040	41,150,947	(36,790,419)	5,079,568
Ending balance, shares at May. 31, 2021		71,904,028
Beginning balance, value at Aug. 31, 2021		$ 719,341	41,332,478	(36,848,322)	5,203,497
Beginning balance, shares at Aug. 31, 2021		71,934,065
Common stock and stock options issued for services			129,788		129,788
Stock based compensation		$ 412	41,090		41,502
Stock based compensation, shares		41,231
Net income (loss)				(338,862)	(338,862)
Ending balance, value at Nov. 30, 2021		$ 719,753	41,503,356	(37,187,184)	5,035,925
Ending balance, shares at Nov. 30, 2021		71,975,296
Beginning balance, value at Aug. 31, 2021		$ 719,341	41,332,478	(36,848,322)	5,203,497
Beginning balance, shares at Aug. 31, 2021		71,934,065
Net income (loss)					(2,083,584)
Ending balance, value at May. 31, 2022		$ 727,525	41,966,768	(38,931,906)	3,762,387
Ending balance, shares at May. 31, 2022		72,752,453
Beginning balance, value at Nov. 30, 2021		$ 719,753	41,503,356	(37,187,184)	5,035,925
Beginning balance, shares at Nov. 30, 2021		71,975,296
Common stock and stock options issued for services			78,896		78,896
Stock based compensation		$ 312	41,190		41,502
Stock based compensation, shares		31,218
Warrant conversion		$ 5,700	165,300		171,000
Warrant conversion, shares		570,001
Net income (loss)				(930,712)	(930,712)
Ending balance, value at Feb. 28, 2022		$ 725,765	41,788,742	(38,117,896)	4,396,611
Ending balance, shares at Feb. 28, 2022		72,576,515
Common stock and stock options issued for services			58,785		58,785
Stock based compensation		$ 260	53,241		53,501
Stock based compensation, shares		25,938
Common stock issued upon exercise of options and warrants		$ 1,500	66,000		67,500
Common stock issued upon exercise of options and warrants, shares		150,000
Net income (loss)				(814,010)	(814,010)
Ending balance, value at May. 31, 2022		$ 727,525	$ 41,966,768	$ (38,931,906)	$ 3,762,387
Ending balance, shares at May. 31, 2022		72,752,453

GENERAL

GENERAL	9 Months Ended
	May 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1 – GENERAL Basis of Presentation The accompanying unaudited interim consolidated financial statements of Texas Mineral Resources Corp. (“we”, “us”, “our”, the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in our annual report on Form 10-K, for the year ended August 31, 2021, dated November 29, 2021 as filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year ended August 31, 2021 as reported in our annual report on Form 10-K, have been omitted. Principles of Consolidation The consolidated financial statements include the accounts of Texas Mineral Resources Corp. and its proportionate interest in the assets, liabilities, and operations of Round Top Mountain Development Company, LLC (“RTMD”). All significant intercompany balances and transactions have been eliminated.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	May 31, 2022
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.

JOINT VENTURE ARRANGEMENTS

JOINT VENTURE ARRANGEMENTS	9 Months Ended
	May 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
JOINT VENTURE ARRANGEMENTS	NOTE 3 – JOINT VENTURE ARRANGEMENTS In connection with USARE meeting its obligations to acquire a 70 10 3,728,000 3 million 728,000 80 402,000 3,326,000 The Company accounts for its interest in RTMD using the proportionate consolidation method, which is an exception available to entities in the extractive industries, thereby recognizing its pro-rata share of the assets, liabilities, and operations of RTMD in the appropriate classifications in the financial statements.

MINERAL PROPERTIES

MINERAL PROPERTIES	9 Months Ended
	May 31, 2022
Extractive Industries [Abstract]
MINERAL PROPERTIES	NOTE 4 – MINERAL PROPERTIES As set forth in Note 3 - Joint Venture Arrangements, the ownership of and obligations associated with the leases and options maintained with the Texas Land Office and other third parties were transferred to RTMD in May 2021. The below discussion under the heading “RTMD Mineral Properties” provides a history of such ownership and obligations. RTMD Mineral Properties August 2010 Lease On August 17, 2010, the Company executed a new mining lease with the Texas General Land Office covering Sections 7 and 18 of Township 7, Block 71 and Section 12 of Block 72, covering approximately 860 Under the terms of the lease, the Company will pay the State of Texas a total lease bonus of $ 142,518 44,718 97,800 500,000 Thereafter, if paying quantities of minerals are obtained, RTMD will pay the State of Texas a production royalty equal to eight percent ( 8 6 1/4 1 Schedule of August 2010 Lease Per Acre Total September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 $ 200 $ 178,873 In August 2021, RTMD paid the State of Texas a delay rental to extend the term of the lease in an amount equal to $ 134,155 November 2011 Lease On November 1, 2011, the Company executed a mining lease with the State of Texas covering approximately 90 20,700 50,000 Thereafter, if paying quantities of minerals are obtained, RTMD will pay the State of Texas a production royalty equal to eight percent ( 8 6 1/4 1 Schedule of November 2011 Lease Per Acre Total November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 $ 200 $ 18,000 In August 2021, RTMD paid the State of Texas a delay rental to extend the term of the lease in an amount equal to $ 13,500 March 2013 Lease On March 6, 2013, the Company purchased the surface lease at the Round Top Project, known as the West Lease, from the Southwest Wildlife and Range Foundation (since renamed the Rio Grande Foundation) for $ 500,000 1,063,830 500,000 45,000 ten years 54,990 October 2014 Surface Option and Water Lease On October 29, 2014, the Company announced the execution of agreements with the Texas General Land Office securing the option to purchase the surface rights covering the potential Round Top Project mine and plant areas and, separately, a lease to develop the water necessary for the potential Round Top Project mine operations. The option to purchase the surface rights covers approximately 5,670 10,000 The ground water lease secures the right to develop the ground water within a 13,120 4 five 5,000 0.95 20,000 Santa Fe Gold Corporation On November 8, 2021, the Company entered into a mineral exploration and option agreement with Santa Fe Gold Corporation (“Santa Fe”). Under the option agreement, the Company and Santa Fe plan to pursue, negotiate and subsequently enter into a joint venture agreement to jointly explore and develop a target silver property to be selected by the Company among patented and unpatented mining claims held by Santa Fe within the Black Hawk Mining District in Grant County, New Mexico. Completion of a joint venture agreement, if any, is subject to the successful outcome of a multi-phase exploration plan leading to a bankable feasibility study to be undertaken in the near future by the Company. Under the contemplated terms of the proposed joint venture agreement, the Company would be project operator and initially own 50.5 49.5 Under the terms of the option agreement, the Company plans to conduct a district-wide evaluation among the patented and unpatented claims held by Santa Fe, consisting of geologic mapping, sampling, trenching, radiometric surveying, geophysics, drilling and/or other methods as warranted. Based on the district-wide evaluation, the Company will designate one 80 1,300 75 two 60 Additionally, on November 8, 2021, the Company entered into a financing and purchase option agreement with Greentech Minerals Holdings, Inc. (“Greentech”). Under the financing agreement, Greentech is responsible for funding initial exploration activities and the bankable feasibility study, estimated to cost approximately $ 6.5 five twelve fifteen months Upon successful completion of the study, Greentech will be entitled to received 20 10.1 15 20 10.1 20.2

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	9 Months Ended
	May 31, 2022
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 5 – SHAREHOLDERS’ EQUITY The Company’s authorized capital stock consists of 100,000,000 0.01 10,000,000 0.001 All shares of common stock have equal voting rights and, when validly issued and outstanding, are entitled to one non-cumulative vote per share in all matters to be voted upon by shareholders In October 2021, the Company issued 41,231 During the quarter ended November 30, 2021, the Company recognized stock compensation and a corresponding charge to additional paid-in capital in the amount of $ 41,502 31,218 During the quarter ended November 30, 2021, the Company granted a total of 43,500 73,788 0.25 201.75 0.00 5 In January 2020, the Company entered into three separate consulting agreements for total consideration of 699,999 233,333 448,000 0.64 24 699,999 87,501 0 74,666 56,000 168,000 During the quarter ended February 28, 2022, the Company granted a total of 30,000 60,230 0.25 201.75 0.00 5 60,230 During the quarter ended February 28, 2022, the Company recognized stock compensation and a corresponding charge to additional paid-in capital in the amount of $ 41,502 25,938 During the quarter ended February 28, 2022, the Company issued 570,001 171,000 During the quarter ended May 31, 2022, the Company issued a total of 30,000 58,785 1 198.67 0.00 5 During the quarter ended May 31, 2022, the Company recognized stock compensation and a corresponding charge to additional paid-in capital in the amount of $ 53,501 33,438 During the quarter ended May 31, 2022, the Company issued 150,000 67,500

GRANT INCOME

GRANT INCOME	9 Months Ended
	May 31, 2022
Other Income and Expenses [Abstract]
GRANT INCOME	NOTE 6 – GRANT INCOME Grants received from government and other agencies in advance of a specific project are deferred and recognized as other income in the statements of operations in the period they are earned and the related project costs are incurred. For the nine months ended May 31, 2022 and 2021, the Company recognized $ 561,950 150,000 561,857 138,922

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	9 Months Ended
	May 31, 2022
Extractive Industries [Abstract]
Schedule of August 2010 Lease	Schedule of August 2010 Lease Per Acre Total September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 $ 200 $ 178,873
Schedule of November 2011 Lease	Schedule of November 2011 Lease Per Acre Total November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 $ 200 $ 18,000

JOINT VENTURE ARRANGEMENTS (Det

JOINT VENTURE ARRANGEMENTS (Details Narrative) - Round Top Mountain Development Company, LLC [Member] - USD ($)		3 Months Ended
	May 17, 2021	May 31, 2021
Consideration received from joint venture	$ 3,728,000
Consideration received from exercise of option	3,000,000
Proceeds from previous advances	$ 728,000
Derecognized percentage of mineral properties	80%
Derecognized amount of mineral properties	$ 402,000
Gain on sale of interest in projects		$ 3,326,000
USARE [Member]
Initial ownership interest acquired	70%
Additional ownership interest acquired	10%

Schedule of August 2010 Lease (

Schedule of August 2010 Lease (Details)	May 31, 2022 USD ($) $ / a
September 2, 2020 - 2024 [Member]
Property, Plant and Equipment [Line Items]
Per Acre Amount | $ / a	150
Total Amount | $	$ 134,155
September 2, 2025 - 2029 [Member]
Property, Plant and Equipment [Line Items]
Per Acre Amount | $ / a	200
Total Amount | $	$ 178,873

Schedule of November 2011 Lease

Schedule of November 2011 Lease (Details)	May 31, 2022 USD ($) $ / a
November 1, 2020 - 2024 [Member]
Property, Plant and Equipment [Line Items]
Per Acre Amount | $ / a	150
Total Amount | $	$ 13,500
November 1, 2025 - 2029 [Member]
Property, Plant and Equipment [Line Items]
Per Acre Amount | $ / a	200
Total Amount | $	$ 18,000

MINERAL PROPERTIES (Details Nar

MINERAL PROPERTIES (Details Narrative)						1 Months Ended
	Nov. 08, 2021 USD ($) a tranche mi	Oct. 29, 2014 USD ($) a well mi $ / gal	Mar. 06, 2013 USD ($) a shares	Nov. 01, 2011 USD ($) a	Aug. 17, 2010 USD ($) a	Aug. 31, 2021 USD ($)
Santa Fe Joint Venture [Member]
Controlling ownership interest	50.50%
Area of project | a	80
Area of property covered under agreement | a	1,300
Percentage of known mining district covered	75%
Area of interest radius | mi	2
Exercise period of option	60 days
Texas General Land Office [Member] | August 2010 Lease [Member]
Mining lease - acres | a					860
Lease Bonus					$ 142,518
Payment of lease bonus					44,718
Lease bonus due					97,800
Minimum advance royalty due					$ 500,000
Production royalty of market value of uranium and fissionable materials					8%
Production royalty of market value of other minerals					6.25%
Lease extension period					1 year
Payment of delay rental						$ 134,155
Texas General Land Office [Member] | November 2011 Lease [Member]
Mining lease - acres | a				90
Lease Bonus				$ 20,700
Minimum advance royalty due				$ 50,000
Production royalty of market value of uranium and fissionable materials				8%
Production royalty of market value of other minerals				6.25%
Lease extension period				1 year
Payment of delay rental						$ 13,500
Rio Grande Foundation [Member] | March 2013 Lease [Member]
Cash paid for lease			$ 500,000
Shares issued for lease | shares			1,063,830
Value of shares issued for lease			$ 500,000
Periodic payment for conservation efforts			$ 45,000
Payment period for conservation efforts			10 years
Surface rights - acres | a			54,990
Rio Grande Foundation [Member] | October 2014 Surface Option and Water Lease [Member]
Surface rights - acres | a		5,670
Periodic option annual payment due		$ 10,000
Ground water lease - acres | a		13,120
Distance from project mine | mi		4
Number of existing water wells | well		5
Annual minimum production payment		$ 5,000
Production payment, amount per gallon | $ / gal		0.95
Production payment, annual amount		$ 20,000
Santa Fe Gold Corporation [Member] | Santa Fe Joint Venture [Member]
Ownership interest	49.50%
Greentech [Member] | Santa Fe Joint Venture [Member]
Exploration activities and feasibility study funding	$ 6,500,000
Feasibility study number of tranches | tranche	5
Percentage of initial equity entitled to receive	20%
Percentage of total equity of joint venture	10.10%
Option to participate in funding	$ 15,000,000
Entitled to receive additional percentage of initial equity	20%
Option percentage of total equity	10.10%
Option to receive percentage in exchange for funding	20.20%
Greentech [Member] | Santa Fe Joint Venture [Member] | Minimum [Member]
Feasibility study period	12 months
Greentech [Member] | Santa Fe Joint Venture [Member] | Maximum [Member]
Feasibility study period	15 months

SHAREHOLDERS_ EQUITY (Details N

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)	1 Months Ended					3 Months Ended						9 Months Ended		29 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Oct. 31, 2021	Jan. 31, 2020	May 31, 2022	Feb. 28, 2022	Nov. 30, 2021	May 31, 2021	Feb. 28, 2021	Nov. 30, 2020	May 31, 2022	May 31, 2021	May 31, 2022	Aug. 31, 2021
Class of Stock [Line Items]
Common stock, authorized						100,000,000						100,000,000		100,000,000	100,000,000
Common stock, par value (in dollars per share)						$ 0.01						$ 0.01		$ 0.01	$ 0.01
Preferred stock, authorized						10,000,000						10,000,000		10,000,000	10,000,000
Preferred stock, par value (in dollars per share)						$ 0.001						$ 0.001		$ 0.001	$ 0.001
Common stock voting rights												one non-cumulative vote per share in all matters to be voted upon by shareholders
Fair value of options granted						$ 53,501	$ 41,502	$ 41,502	$ 211,418	$ 204,322	$ 190,367
Consulting agreements, number of shares					699,999
Consulting agreements, number of shares per agreement					233,333
Consulting agreements, value of shares					$ 448,000
Share price					$ 0.64
Number of options exercised						150,000	570,001
Proceeds from exercise of options						$ 67,500	$ 171,000
Director [Member] | Share-Based Payment Arrangement [Member]
Class of Stock [Line Items]
Number of shares issued		25,938	31,218	41,231
Compensation expense						53,501	41,502	$ 41,502
Director [Member] | Share-Based Payment Arrangement [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Number of shares issued	33,438
Consultant [Member] | Share-Based Payment Arrangement [Member]
Class of Stock [Line Items]
Compensation expense						$ 0			$ 56,000			$ 74,666	$ 168,000
Share vesting period					24 months
Number of shares vested														699,999
Number of shares issued														87,501
Consultant [Member] | Share-Based Payment Arrangement, Option [Member]
Class of Stock [Line Items]
Compensation expense							$ 60,230
Number of options granted						30,000	30,000	43,500
Fair value of options granted						$ 58,785	$ 60,230	$ 73,788
Fair value assumptions - Risk free interest rate						1%	0.25%	0.25%
Fair value assumptions - Volatilty						198.67%	201.75%	201.75%
Fair value assumptions - Dividend yield						0%	0%	0%
Fair value assumptions - Expected term						5 years	5 years	5 years

GRANT INCOME (Details Narrative

GRANT INCOME (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2022	May 31, 2021
Other Income and Expenses [Abstract]
Grant income	$ 561,950	$ 150,000
Grant related expenses	$ 561,857	$ 138,922