Artelo Biosciences (ARTL) 10-Q/A 14 May 18 2018 Q2 Quarterly report (amended) Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Feb. 28, 2018	Apr. 12, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	ARTELO BIOSCIENCES, INC.
Entity Central Index Key	1,621,221
Trading Symbol	artl
Current Fiscal Year End Date	--08-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,781,195
Document Type	10-Q/A
Document Period End Date	Feb. 28, 2018
Amendment Flag	true
Amendment Description	EXPLANATORY NOTE Artelo Biosciences, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (this “Amendment”) to its Quarterly Report on Form 10-Q for the period ended February 28, 2018, which was originally filed on April 16, 2018 (the “Original Filing”). The purpose of this Amendment is to amend and restate Part I – Financial Information Item I – Financial Statements and Item II - Management's Discussion and Analysis of Financial Condition or Plan of Operation Other than as set forth herein, this Amendment does not modify or update the Original Filing in any way, and the parts or exhibits of the Original Filing which have not been modified or updated are not included in this Amendment. This Amendment continues to speak as of the date of the Original Filing and the Company has not updated the disclosure contained herein to reflect events that have occurred since the filing of the Original Filing. Accordingly, this Amendment should be read in conjunction with the Company’s other filings made with the Securities and Exchange Commission since the filing of the Original Filing, including amendments to those filings, if any.
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Feb. 28, 2018		Aug. 31, 2017
Current Assets
Cash and cash equivalents		$ 525,107	[1]	$ 572,775
Prepaid expenses and deposits		13,923	[1]	1,500
Other receivable	[1]	1,327
Total Current Assets		540,357	[1]	574,275
Equipment, net of accumulated depreciation of $146 and $nil, respectively	[1]	741
TOTAL ASSETS		541,098	[1]	574,275
Current Liabilities
Accounts payable and accrued liabilities		324,321	[1]	28,576
Due to related party		1,602	[1]	862
Total Current Liabilities		325,923	[1]	29,438
STOCKHOLDERS' EQUITY
Preferred Stock, par value $0.001, 50,000,000 shares authorized, 0 and 0 shares issued and outstanding as of February 28, 2018 and August 31, 2017, respectively			[1]
Common Stock, par value $0.001, 150,000,000 shares authorized, 12,367,889 and 11,327,302 shares issued and outstanding as of February 28, 2018 and August 31, 2017, respectively		12,368	[1]	11,327
Additional paid-in capital		1,575,039	[1]	827,942
Accumulated deficit		(1,370,610)	[1]	(295,089)
Accumulated other comprehensive gain (loss)		(1,622)	[1]	657
Total Stockholders' Equity		215,175	[1]	544,837
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 541,098	[1]	$ 574,275
[1]	Restated

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Feb. 28, 2018	Aug. 31, 2017
Statement of Financial Position [Abstract]
Accumulated depreciation on equipment	$ 146
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	12,367,889	11,327,302
Common stock, shares outstanding	12,367,889	11,327,302

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)		3 Months Ended			6 Months Ended
		Feb. 28, 2018		Feb. 28, 2017	Feb. 28, 2018		Feb. 28, 2017
OPERATING EXPENSES
General and administrative		$ 30,924	[1]	$ 3,803	$ 167,488	[1]	$ 4,116
Professional fees		119,999	[1]	8,192	227,344	[1]	17,396
Research and development	[1]	647,467			680,543
Depreciation	[1]	74			146
Total Operating Expenses		798,464	[1]	11,995	1,075,521	[1]	21,512
Loss from Operations		(798,464)	[1]	(11,995)	(1,075,521)	[1]	(21,512)
OTHER OPERATING EXPENSE
Interest expense				(1,016)			(1,016)
Total other expense				(1,016)			(1,016)
Provision for income taxes		0	[1]	0	0	[1]	0
NET LOSS		(798,464)	[1]	(13,011)	(1,075,521)	[1]	(22,528)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustments	[1]	(1,254)			(2,279)
Total Other Comprehensive Income Loss	[1]	(1,254)			(2,279)
TOTAL COMPREHENSIVE LOSS		$ (799,718)	[1]	$ (13,011)	$ (1,077,800)	[1]	$ (22,528)
Basic and Diluted Loss per Common Share (in dollars per share)		$ (0.07)	[1]	$ 0	$ (0.10)	[1]	$ 0
Basic and Diluted Weighted Average Common Shares Outstanding (in shares)		11,677,909	[1]	7,640,000	11,555,105	[1]	7,640,000
[1]	Restated

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)		6 Months Ended
		Feb. 28, 2018		Feb. 28, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$ (1,075,521)	[1]	$ (22,528)
Amortization of debt discount				169
Depreciation	[1]	146
Stock based compensation	[1]	156,001
Changes in operating assets and liabilities:
Prepaid expenses		(12,423)	[1]	(2,560)
Other receivable	[1]	(1,327)
Accounts payable and accrued liabilities		295,745	[1]	(10,527)
Accrued interest				847
Due to related party				12,406
Net cash used in operating activities		(637,379)	[1]	(22,193)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment	[1]	(887)
Net cash used in investing activities	[1]	(887)
CASH FLOWS FROM FINANCING ACTIVITIES
Collection from stock issued for cash	[1]	592,137
Advance from related party		16,583	[1]	100
Repayment to related party	[1]	(15,843)
Proceeds from issuance of note payable				29,400
Net cash provided by financing activities		592,877	[1]	29,500
Effects on changes in foreign exchange rate	[1]	(2,279)
Net decrease in cash and cash equivalents		(47,668)	[1]	7,307
Cash and cash equivalents - beginning of period		572,775		3,590
Cash and cash equivalents - end of period		525,107	[1]	10,897
Supplemental Cash Flow
Cash paid for interest		0	[1]	0
Cash paid for income taxes		$ 0	[1]	0
Non-cash financing and investing activities:
Loan forgiven by previous shareholder				$ 16,856
[1]	Restated

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Feb. 28, 2018
Organization And Description Of Business [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS ARTELO BIOSCIENCES, INC. (the “Company”) is a Nevada corporation incorporated on May 2, 2011. It is based in San Diego County, California. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is August 31. Effective on February 10, 2017, the Company changed its name from “KNIGHT KNOX DEVELOPMENT CORP.,” to “REACTIVE MEDICAL INC.” On April 14, 2017, the Company changed its name from “REACTIVE MEDICAL INC.” to “ARTELO BIOSCIENCES, INC”. In May 2017, the Company registered fully owned subsidiaries in England and Wales, Trinity Reliant Ventures Limited, and Trinity Research & Development Limited. Operations in the subsidiary have been consolidated in the financial statements. The Company intends to license, develop and commercialize novel therapeutic treatments targeting the endocannabinoid system. To date, the Company’s activities have primarily been limited to its formation, business development activities, sponsored research, and the raising of equity capital.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Feb. 28, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company prepares its financial statements in accordance with rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted (“GAAP”) in the United States of America. The accompanying interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the Company’s opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended February 28, 2018 are not necessarily indicative of the results for the full year. While management of the Company believes that the disclosures presented herein are adequate and not misleading, these interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended August 31, 2017 contained in the Company’s Form 10-K filed on November 29, 2017. Basis of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary Trinity Reliant Ventures Limited. No intercompany balances or transactions exist during the period ended February 28, 2018.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Feb. 28, 2018
Going Concern [Abstract]
GOING CONCERN	NOTE 3 - GOING CONCERN The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan to obtain such resources for the Company include: sales of equity instruments; traditional financing, such as loans; and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the six months ended February 28, 2018, the Company has a net loss of $1,075,521. As at February 28, 2018, the Company had an accumulated deficit of $1,370,610 and has earned no revenues. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for future periods.

RESTATEMENT

RESTATEMENT	6 Months Ended
	Feb. 28, 2018
Accounting Changes and Error Corrections [Abstract]
RESTATEMENT	NOTE 4 - RESTATEMENT Subsequent to the filing of the February 28, 2018 Form 10Q, the Company found that there were unrecorded research and development expenses of $170,110 related to the Exclusive License Agreement effective January 19, 2018 that requires the Company to reimburse past patent costs. As a result of this error, the Company has restated its unaudited Consolidated Statement of Financial Statements for the six months ended February 28, 2018. The following table summarizes the restatement changes made to the Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows for the six months ended February 28, 2018 previously filed: Originally Restatement Consolidated Balance Sheets as of February 28, 2018 Reported Adjustment As Restated Accounts payable and accrued liabilities $ 154,211 $ 170,110 $ 324,321 Total Current Liabilities $ 155,813 $ 170,110 $ 325,923 Accumulated deficit $ (1,200,500 ) $ (170,110 ) $ (1,370,610 ) Total Stockholders' Equity $ 385,285 $ (170,110 ) $ 215,175 Consolidated Statements of Operations Originally Restatement Three months ended February 28, 2018 Reported Adjustment As Restated Research and development $ 477,357 $ 170,110 $ 647,467 Total Operating Expenses $ 628,354 $ 170,110 $ 798,464 Loss from Operations $ (628,354 ) $ (170,110 ) $ (798,464 ) NET LOSS $ (628,354 ) $ (170,110 ) $ (798,464 ) TOTAL COMPREHENSIVE LOSS $ (629,608 ) $ (170,110 ) $ (799,718 ) Basic and Diluted Loss per Common Share - Three months ended February 28, 2018 $ (0.05 ) $ (0.02 ) $ (0.07 ) Consolidated Statements of Operations Originally Restatement Six months ended February 28, 2018 Reported Adjustment As Restated Research and development $ 510,433 $ 170,110 $ 680,543 Total Operating Expenses $ 905,411 $ 170,110 $ 1,075,521 Loss from Operations $ (905,411 ) $ (170,110 ) $ (1,075,521 ) NET LOSS $ (905,411 ) $ (170,110 ) $ (1,075,521 ) TOTAL COMPREHENSIVE LOSS $ (907,690 ) $ (170,110 ) $ (1,077,800 ) Basic and Diluted Loss per Common Share - Six months ended February 28, 2018 $ (0.08 ) $ (0.02 ) $ (0.10 ) Originally Restatement Consolidated Statements of Cash Flows for six months ended February 28, 2018 Reported Adjustment As Restated NET LOSS $ (905,411 ) $ (170,110 ) $ (1,075,521 ) Changes in operating assets and liabilities: Accounts payable and accrued liabilities $ 125,635 $ 170,110 $ 295,745

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Feb. 28, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 - RELATED PARTY TRANSACTIONS During the six months ended February 28, 2018, the president of the Company incurred $740 of expenses on behalf of the Company. The amount owing to the related party as of February 28, 2018 and August 31, 2017 is $1,602 and $862, respectively. The amounts are non-interest bearing and have no terms of repayment. During the six months ended February 28, 2018, the former President, and current Senior Vice President, European Operations, who is a major shareholder paid rent expense on behalf of the Company, and paid for expenses on behalf of the company for a total of $15,843. The amount of $15,843 was repaid during the six months ended February 28, 2018. The amount owing to the related party as of February 28, 2018 and August 31, 2017 is $0 and $0, respectively. The amounts are non-interest bearing, and have no terms of repayment. The Company has an employment contract with a key employee, Mr. Gregory Gorgas, who is an officer of the Company. Effective January 26, 2018 the annual base salary is $125,000. As of February 28, 2018, $12,340 was paid in salary and $25,934 was paid reimbursement for payments made by him for his health benefits, retroactive to the beginning of his employment. The amounts and terms of the above transactions may not necessarily be indicative of the amounts and terms that would have been incurred had comparable transactions been entered into with independent third parties. On September 20, 2017, the Company appointed 2 additional Directors. Each Director was granted a restricted stock award (the “RSA”) for 100,000 shares of the Company’s common stock, vesting annually over a four year period, in each case subject to such director’s continued service to the Company. During the six months ended February 28, 2018, the company recorded $30,001 of stock compensation expense for all five members of the Company’s Board of Directors. On January 26, 2018, the Company received $65,000 from two related parties from shares issuance under subscription agreement. The amounts have been recorded as stock common stock issued, and will be settled with shares of the Company subsequent to quarter end. The amounts of $65,000 with related parties is for the issuance of 99,999 common shares, purchase price of $0.65 and 99,999 warrants with an exercise price of $1.50 per share, and five years expiry date. (See note 5).

EQUITY

EQUITY	6 Months Ended
	Feb. 28, 2018
Equity [Abstract]
EQUITY	NOTE 6 - EQUITY Preferred shares The Company has authorized 50,000,000 shares of preferred stock with a par value of $0.001. During the six months ended February 28, 2018, there were no issuances of preferred stock. Common Shares The Company has authorized 150,000,000 common shares with a par value of $0.001 per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the company is sought. During the six months ended February 28, 2018, the Company issued as follows, · The Company received $10,000 that has been recorded as stock issued in relation to a subscription agreement on June 30, 2017, for the issuance of 25,000 common shares. Per the terms of the subscription agreement, following the closing date until the earlier of (i) the date that the registration is declared effective by the SEC, or (ii) the date the shares become freely tradable, if the Company issues any common stock or common stock equivalent entitling the holder to acquire common stock at a price below $0.40, the Company will be required to issue the subscribers that number of additional unites equal to the difference between the units issued at closing, and the number units the Company would have issued to the subscriber had the offering been completed at this discounted price. · On January 2, 2018, the Company issued 120,000 shares of its common stock valued at $126,000 to NEOMED for services. · During the six months ended February 28, 2018, the Company received cash of $582,136 that has been recorded for the issuance of 895,587 common shares at a price of $0.65 per Unit pursuant to a private placement offering conducted by the Company in relation to subscription agreements accepted on January 26, 2018 and March 15, 2018. Each Unit consists of: (i) one (1) share of common stock; and (ii) one (1) Series A Stock Purchase Warrant to purchase one (1) share of common stock at a price of $1.50 per share for a period of 5 years from the issue date. Warrants In relation to the common stock related to subscription agreement dated on June 30, 2017, each individual investor received warrants with the purchase of the stock. For each share purchased, the investor will receive one Series A Common Stock Purchase Warrant to purchase one share of the Company’s common stock for a period of five years from the date of the share subscription at June 30, 2017 at a price of $1.00 per share. In relation to the common stock related to subscription agreement dated on January 26, 2018, each individual investor received warrants with the purchase of the stock. For each share purchased, the investor will receive one Series A Stock Purchase Warrant to purchase one share of the Company’s common stock for a period of five years from the date of the share subscription at January 26, 2018 at a price of $1.50 per share. In relation to the common stock related to subscription agreement dated on March 15, 2018, each individual investor received warrants with the purchase of the stock. For each share purchased, the investor will receive one Series A Stock Purchase Warrant to purchase one share of the Company’s common stock for a period of five years from the date of the share subscription at March 15, 2018 at a price of $1.50 per share. As of February 28, 2018, there are 2,847,889 Series A Common Stock Purchase Warrants outstanding, with a weighted average life remaining of 4.52 years, and average exercise price of $1.16. The warrants have intrinsic value of $741,875 as of February 28, 2018.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Feb. 28, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS Subsequent to February 28, 2018, we entered into Subscription Agreements with 5 individuals, for the purchase and sale of 390,306 units of the Company’s equity securities (the “Units”) at a price of $0.65 per Unit, pursuant to a private placement offering conducted by the Company for aggregate proceeds of $253,700. Each Unit consists of: (i) one (1) share of common stock; and (ii) one (1) Series A Stock Purchase Warrant to purchase one (1) share of common stock at a price of $1.50 per share for a period of 5 years from the issue date. On March 16, 2018, the Company received $14,950 for the issuance of 23,000 common shares related to subscription agreement dated on January 26, 2018.

SUMMARY OF SIGNIFICANT ACCOUN13

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Feb. 28, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company prepares its financial statements in accordance with rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted (“GAAP”) in the United States of America. The accompanying interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information in accordance with Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the Company’s opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended February 28, 2018 are not necessarily indicative of the results for the full year. While management of the Company believes that the disclosures presented herein are adequate and not misleading, these interim financial statements should be read in conjunction with the audited financial statements and the footnotes thereto for the year ended August 31, 2017 contained in the Company’s Form 10-K filed on November 29, 2017.
Basis of Consolidation	Basis of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary Trinity Reliant Ventures Limited. No intercompany balances or transactions exist during the period ended February 28, 2018.

RESTATEMENT (Tables)

RESTATEMENT (Tables)	6 Months Ended
	Feb. 28, 2018
Accounting Changes and Error Corrections [Abstract]
Schedule of restatement changes made to Consolidated Balance Sheets, Statements of Operations and Statements of Cash Flows	Originally Restatement Consolidated Balance Sheets as of February 28, 2018 Reported Adjustment As Restated Accounts payable and accrued liabilities $ 154,211 $ 170,110 $ 324,321 Total Current Liabilities $ 155,813 $ 170,110 $ 325,923 Accumulated deficit $ (1,200,500 ) $ (170,110 ) $ (1,370,610 ) Total Stockholders' Equity $ 385,285 $ (170,110 ) $ 215,175 Consolidated Statements of Operations Originally Restatement Three months ended February 28, 2018 Reported Adjustment As Restated Research and development $ 477,357 $ 170,110 $ 647,467 Total Operating Expenses $ 628,354 $ 170,110 $ 798,464 Loss from Operations $ (628,354 ) $ (170,110 ) $ (798,464 ) NET LOSS $ (628,354 ) $ (170,110 ) $ (798,464 ) TOTAL COMPREHENSIVE LOSS $ (629,608 ) $ (170,110 ) $ (799,718 ) Basic and Diluted Loss per Common Share - Three months ended February 28, 2018 $ (0.05 ) $ (0.02 ) $ (0.07 ) Consolidated Statements of Operations Originally Restatement Six months ended February 28, 2018 Reported Adjustment As Restated Research and development $ 510,433 $ 170,110 $ 680,543 Total Operating Expenses $ 905,411 $ 170,110 $ 1,075,521 Loss from Operations $ (905,411 ) $ (170,110 ) $ (1,075,521 ) NET LOSS $ (905,411 ) $ (170,110 ) $ (1,075,521 ) TOTAL COMPREHENSIVE LOSS $ (907,690 ) $ (170,110 ) $ (1,077,800 ) Basic and Diluted Loss per Common Share - Six months ended February 28, 2018 $ (0.08 ) $ (0.02 ) $ (0.10 ) Originally Restatement Consolidated Statements of Cash Flows for six months ended February 28, 2018 Reported Adjustment As Restated NET LOSS $ (905,411 ) $ (170,110 ) $ (1,075,521 ) Changes in operating assets and liabilities: Accounts payable and accrued liabilities $ 125,635 $ 170,110 $ 295,745

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	3 Months Ended			6 Months Ended
	Feb. 28, 2018	[1]	Feb. 28, 2017	Feb. 28, 2018	[1]	Feb. 28, 2017	Aug. 31, 2017
Going Concern [Abstract]
Net loss	$ (798,464)		$ (13,011)	$ (1,075,521)		$ (22,528)
Accumulated deficit	$ (1,370,610)			$ (1,370,610)			$ (295,089)
[1]	Restated

RESTATEMENT (Details)

RESTATEMENT (Details) - USD ($)	Feb. 28, 2018		Aug. 31, 2017
Consolidated Balance Sheets
Accounts payable and accrued liabilities	$ 324,321	[1]	$ 28,576
Total Current Liabilities	325,923	[1]	29,438
Accumulated deficit	(1,370,610)	[1]	(295,089)
Total Stockholders' Equity	215,175	[1]	$ 544,837
Originally Reported
Consolidated Balance Sheets
Accounts payable and accrued liabilities	154,211
Total Current Liabilities	155,813
Accumulated deficit	(1,200,500)
Total Stockholders' Equity	385,285
Restatement Adjustment
Consolidated Balance Sheets
Accounts payable and accrued liabilities	170,110
Total Current Liabilities	170,110
Accumulated deficit	(170,110)
Total Stockholders' Equity	$ (170,110)
[1]	Restated

RESTATEMENT (Details 1)

RESTATEMENT (Details 1) - USD ($)		3 Months Ended			6 Months Ended
		Feb. 28, 2018		Feb. 28, 2017	Feb. 28, 2018		Feb. 28, 2017
Consolidated Statements of Operations
Research and development	[1]	$ 647,467			$ 680,543
Total Operating Expenses		798,464	[1]	$ 11,995	1,075,521	[1]	$ 21,512
Loss from Operations		(798,464)	[1]	(11,995)	(1,075,521)	[1]	(21,512)
NET LOSS		(798,464)	[1]	(13,011)	(1,075,521)	[1]	(22,528)
TOTAL COMPREHENSIVE LOSS		$ (799,718)	[1]	$ (13,011)	$ (1,077,800)	[1]	$ (22,528)
Basic and Diluted Loss per Common Share (in dollars per share)		$ (0.07)	[1]	$ 0	$ (0.10)	[1]	$ 0
Originally Reported
Consolidated Statements of Operations
Research and development		$ 477,357			$ 510,433
Total Operating Expenses		628,354			905,411
Loss from Operations		(628,354)			(905,411)
NET LOSS		(628,354)			(905,411)
TOTAL COMPREHENSIVE LOSS		$ (629,608)			$ (907,690)
Basic and Diluted Loss per Common Share (in dollars per share)		$ (0.05)			$ (0.08)
Restatement Adjustment
Consolidated Statements of Operations
Research and development		$ 170,110			$ 170,110
Total Operating Expenses		170,110			170,110
Loss from Operations		(170,110)			(170,110)
NET LOSS		(170,110)			(170,110)
TOTAL COMPREHENSIVE LOSS		$ (170,110)			$ (170,110)
Basic and Diluted Loss per Common Share (in dollars per share)		$ (0.02)			$ (0.10)
[1]	Restated

RESTATEMENT (Details 2)

RESTATEMENT (Details 2) - USD ($)	3 Months Ended			6 Months Ended
	Feb. 28, 2018		Feb. 28, 2017	Feb. 28, 2018		Feb. 28, 2017
Consolidated Statements of Cash Flows
NET LOSS	$ (798,464)	[1]	$ (13,011)	$ (1,075,521)	[1]	$ (22,528)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities				295,745	[1]	$ (10,527)
Originally Reported
Consolidated Statements of Cash Flows
NET LOSS	(628,354)			(905,411)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities				125,635
Restatement Adjustment
Consolidated Statements of Cash Flows
NET LOSS	$ (170,110)			(170,110)
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities				$ 170,110
[1]	Restated

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals)		1 Months Ended		6 Months Ended
		Jan. 26, 2018USD ($)Individual$ / sharesshares	Sep. 20, 2017Directorshares	Feb. 28, 2018USD ($)		Aug. 31, 2017USD ($)
Related Party Transaction [Line Items]
Due to related party				$ 1,602	[1]	$ 862
Repayment to related party	[1]			15,843
Annual base salary		$ 125,000
Payment of salary				12,340
Payments for reimbursement				25,934
Appointment of director | Director			2
Number of share issue for common stock | shares			100,000
Common stock vesting period			4 years
Stock compensation expense for five Board of Directors' members				30,001
Company received amount for issuance of shares		$ 65,000
Number of related party | Individual		2
Number of issuance of common shares | shares		99,999
Common stock price per share | $ / shares		$ 0.65
Issuance of warrants | shares		99,999
Exercise price of warrants | $ / shares		$ 1.50
Period of expiry		5 years
President
Related Party Transaction [Line Items]
Expense paid on behalf of company				740
Former President, and current Senior Vice President, European Operations
Related Party Transaction [Line Items]
Due to related party				0		$ 0
Rent expense paid on behalf of company				15,843
Repayment to related party				$ 15,843
[1]	Restated

EQUITY (Detail Textuals)

EQUITY (Detail Textuals)		Mar. 15, 2018Warrant	Jan. 02, 2018USD ($)shares	Apr. 16, 2018$ / shares	Mar. 16, 2018USD ($)shares	Jan. 26, 2018Warrant$ / sharesshares	Jun. 30, 2017Warrant$ / shares	Feb. 28, 2018USD ($)$ / sharesshares	Aug. 31, 2017$ / sharesshares
Related Party Transaction [Line Items]
Common stock, shares authorized | shares								150,000,000	150,000,000
Common stock, par value (in dollars per share)								$ 0.001	$ 0.001
Preferred stock, shares authorized | shares								50,000,000	50,000,000
Preferred stock, par value (in dollars per share)								$ 0.001	$ 0.001
Common stock, voting rights								one vote
Number of issuance of common shares | shares						99,999
Common stock price per share						$ 0.65
Number of shares issued for services | shares			120,000
Amount of shares issued for services | $			$ 126,000
Proceeds from Issuance of Common Stock | $	[1]							$ 592,137
Exercise price of warrants						$ 1.50
Series A Common Stock Purchase Warrant
Related Party Transaction [Line Items]
Common stock price per share								$ 1.50
Purchase warrants outstanding | shares								2,847,889
Warrant or right outstanding weighted average remaining life term								4 years 6 months 7 days
Exercise price of warrants								$ 1.16
Warrant intrinsic value | $								$ 741,875
Subscription Agreement
Related Party Transaction [Line Items]
Value for issuance of common shares | $								$ 10,000
Number of issuance of common shares | shares								25,000
Common stock price per share								$ 0.40
Subscription Agreement | Private placement
Related Party Transaction [Line Items]
Number of issuance of common shares | shares								895,587
Proceeds from Issuance of Common Stock | $								$ 582,136
Unit Issued Price Per Share								$ 0.65
Subscription Agreement | Subsequent event
Related Party Transaction [Line Items]
Number of issuance of common shares | shares					23,000
Common stock price per share				$ 0.65
Proceeds from Issuance of Common Stock | $					$ 14,950
Share Price				$ 1.50
Term of issuance of common stock				5 years
Subscription Agreement | Series A Common Stock Purchase Warrant
Related Party Transaction [Line Items]
Number of warrant purchase | Warrant						1	1
Number of purchase common stock shares | Warrant						1	1
Terms of common stock warrant						5 years	5 years
Exercise price of warrants						$ 1.50	$ 1
Subscription Agreement | Series A Common Stock Purchase Warrant | Subsequent event
Related Party Transaction [Line Items]
Number of warrant purchase | Warrant		1
Number of purchase common stock shares | Warrant		1
Terms of common stock warrant		5 years
[1]	Restated

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)		1 Months Ended			6 Months Ended
		Apr. 16, 2018USD ($)Individual$ / sharesshares	Mar. 16, 2018USD ($)shares	Jan. 26, 2018$ / sharesshares	Feb. 28, 2018USD ($)$ / sharesshares
Subsequent Event [Line Items]
Unit issued, price per unit | $ / shares				$ 0.65
Proceeds from issuance of common stock | $	[1]				$ 592,137
Issuance of common stock | shares				99,999
Subscription Agreement
Subsequent Event [Line Items]
Unit issued, price per unit | $ / shares					$ 0.40
Issuance of common stock | shares					25,000
Subsequent event | Subscription Agreement
Subsequent Event [Line Items]
Number of subscription agreements individual | Individual		5
Purchase and sale of unit issued | shares		390,306
Unit issued, price per unit | $ / shares		$ 0.65
Proceeds from Issuance or Sale of Equity | $		$ 253,700
Purchase of common stock, price per share | $ / shares		$ 1.50
Term of issuance of common stock		5 years
Proceeds from issuance of common stock | $			$ 14,950
Issuance of common stock | shares			23,000
[1]	Restated