Vision Marine (VMAR) F-1/A 28 Nov 23 Registration statement (foreign) (amended) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Aug. 31, 2023
Document and Entity Information
Document Type	F-1/A
Entity Registrant Name	VISION MARINE TECHNOLOGIES INC.
Amendment Description	Amendment No. 2
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001813783
Amendment Flag	true

Consolidated statements of fina

Consolidated statements of financial position - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Current
Cash	$ 3,359,257	$ 5,824,716
Trade and other receivables [note 6]	550,836	472,548
Income tax receivable	98,540
Inventories [note 7]	2,445,554	2,093,776
Prepaid expenses	1,973,591	2,472,301
Grants and investment tax credits receivable [note 21]		681,663
Share subscription receivable [note 17]	39,200	39,200
Advances to related parties [note 17]	20,135	16,736
Total current assets	8,487,113	11,600,940
Investment in Limestone [note 8]		2,435,000
Right-of-use assets [note 9]	2,414,593	2,261,100
Property and equipment [note 10]	2,313,926	2,218,982
Intangibles [note 11]	966,724	1,112,670
Deferred income taxes [note 23]	68,460
Goodwill [note 5]	9,680,941	9,352,640
Other financial assets	114,755	118,877
Total assets	24,046,512	29,100,209
Current
Credit facility [note 12]	155,000
Trade and other payables [notes 13 & 17]	1,754,900	1,030,331
Provision on onerous contracts	91,667
Income tax payable		3,188
Contract liabilities [note 14]	1,815,731	1,029,318
Current portion of lease liabilities [note 15]	647,638	561,168
Current portion of long-term debt [note 16]	271,546	72,090
Other financial liabilities	113,695	177,834
Total current liabilities	4,850,177	2,873,929
Lease liabilities [note 15]	1,994,156	1,854,381
Long-term debt [note 16]	33,783	155,259
Derivative liabilities [note 18]	5,558,822	0
Deferred income taxes [note 23]	45,137	188,044
Total liabilities	12,482,075	5,071,613
Shareholders' equity
Capital stock [note 18]	50,395,717	43,441,591
Contributed surplus [note 19]	11,684,829	10,560,886
Accumulated other comprehensive income	1,032,628	697,671
Deficit	(51,548,737)	(30,671,552)
Total shareholders' equity	11,564,437	24,028,596
Total shareholders' equity and liabilities	$ 24,046,512	$ 29,100,209

Consolidated statements of chan

Consolidated statements of changes in shareholders' equity (deficit) - CAD ($)	Capital stock Initial Public Offering	Capital stock	Contributed surplus	Deficit	Accumulated other comprehensive income	Initial Public Offering	Total
Shareholders' equity at Aug. 31, 2020		$ 2,497,813	$ 739,961	$ (2,445,859)			$ 791,915
Shareholders' equity (in shares) at Aug. 31, 2020		4,585,001
Total comprehensive loss				(15,113,907)	$ 388,566		(14,725,341)
Net of transactions costs	$ 33,158,513	$ 2,231,999				$ 33,158,513	2,231,999
Net of transactions costs (in shares)	2,760,000	595,715
Conversion of related party loans into shares [note 17 &18]		$ 898,489					898,489
Conversion of related party loans into shares [note 17 &18] (in shares)		69,650
Shares issued as consideration for the acquisition of intangible assets [note 11 & 18]		$ 573,936					573,936
Shares issued as consideration for the acquisition of intangible assets [note 11 & 18] (in shares)		30,000
Shares issued as consideration in a business combination [note 5 & 18]		$ 3,474,232					3,474,232
Shares issued as consideration in a business combination [note 5 & 18] (Shares)		284,495
Share-based compensation [note 19]			7,121,444				7,121,444
Shareholders' equity at Aug. 31, 2021		$ 42,834,982	7,861,405	(17,559,766)	388,566		33,525,187
Shareholders' equity (in shares) at Aug. 31, 2021		8,324,861
Total comprehensive loss				(13,111,785)	309,105		(12,802,680)
Net of transactions costs		$ 606,609					606,609
Net of transactions costs (in shares)		93,062
Share-based compensation [note 19]			2,699,481				2,699,481
Shareholders' equity at Aug. 31, 2022		$ 43,441,591	10,560,886	(30,671,551)	697,671		24,028,596
Shareholders' equity (in shares) at Aug. 31, 2022		8,417,923
Total comprehensive loss				(20,877,186)	334,957		(20,542,229)
Share issuance - options exercised		$ 175,699	(12,239)				163,460
Share issuance - options exercised (in shares)		57,219
Net of transactions costs		$ 6,778,427					6,778,427
Net of transactions costs (in shares)		2,697,658
Share-based compensation [note 19]			1,136,182				1,136,182
Shareholders' equity at Aug. 31, 2023		$ 50,395,717	$ 11,684,829	$ (51,548,737)	$ 1,032,628		$ 11,564,437
Shareholders' equity (in shares) at Aug. 31, 2023		11,172,800

Consolidated statements of ch_2

Consolidated statements of changes in shareholders' equity (deficit) (Parenthetical)	12 Months Ended
	Aug. 31, 2021 CAD ($)
Transaction costs	$ 0
Initial Public Offering
Transaction costs	$ 3,328,687

Consolidated statements of comp

Consolidated statements of comprehensive loss - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Consolidated statements of comprehensive loss
Revenues [note 20]	$ 5,651,502	$ 7,350,946	$ 3,513,788
Cost of sales [note 7]	4,023,409	4,065,381	1,909,606
Cost of sales - EMotion	91,667
Gross profit	1,536,426	3,285,565	1,604,182
Expenses
Research and development [note 17]	5,704,912	2,242,794	1,489,953
Office salaries and benefits [note 17]	4,014,181	3,335,799	1,754,613
Selling and marketing expenses	3,470,772	1,972,306	1,086,057
Professional fees	3,764,465	3,590,816	1,633,477
Office and general	3,100,024	1,949,583	1,239,457
Share-based compensation [note 19]	1,136,182	2,699,481	7,121,444
Impairment loss on debentures [note 8]	2,637,000	0	0
Depreciation	588,957	268,490	184,855
Net finance income (expense) [note 22]	(1,604,536)	223,660	2,256,392
Other income	(117,470)	(143,922)	(153,749)
Operating expense	22,694,487	16,139,007	16,612,499
Loss before tax	(21,158,061)	(12,853,442)	(15,008,317)
Income taxes [note 23]
Current tax expense (recovery)	(70,607)	182,854	131,403
Deferred tax expense (recovery)	(210,268)	75,489	(25,813)
Total income tax expense (recovery)	(280,875)	258,343	105,590
Net loss for the period	(20,877,186)	(13,111,785)	(15,113,907)
Items of comprehensive income that will be subsequently reclassified to earnings:
Foreign currency translation differences for foreign operations, net of tax	334,957	309,105	388,566
Other comprehensive income, net of tax	334,957	309,105	388,566
Total comprehensive loss for the year, net of tax	$ (20,542,229)	$ (12,802,680)	$ (14,725,341)
Weighted average shares outstanding, Basic	9,268,709	8,318,121	7,412,899
Weighted average shares outstanding, Diluted	9,268,709	8,318,121	7,412,899
Basic loss per share	$ (2.25)	$ (1.58)	$ (2.04)
Diluted loss per share	$ (2.22)	$ (1.58)	$ (2.04)

Consolidated statements of cash

Consolidated statements of cash flows - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Operating activities
Net loss	$ (20,877,186)	$ (13,111,785)	$ (15,113,907)
Depreciation	1,060,897	955,513	417,050
Accretion on long-term debt and lease liability	166,719	157,270	70,379
Share-based compensation - options	1,136,182	2,699,481	7,121,444
Shares issued for services	1,670,415	596,608	109,069
Net loss on debentures	2,435,000	330,000	550,000
Gain on disposal of property and equipment	173,375
Interest income received		85,000
Income tax expense	(280,875)	258,343	105,590
Income tax received			13,415
Income tax paid	(14,040)	(373,196)
Gain on derivative liabilities	(1,770,689)
Gain on lease termination	(50,329)	(5,652)	(7,230)
Effect of exchange rate fluctuation	49,670	17,398	(6,542)
Operating activities before working capital items	(16,300,861)	(8,391,020)	(6,740,732)
Net change in non-cash working capital items
Trade and other receivables	(78,288)	(152,808)	(232,715)
Provision for onerous contracts	91,667
Inventories	(351,778)	(117,692)	(1,471,693)
Grants and investment tax credits receivable	681,663	(573,361)	293,937
Other financial assets	4,121	(85,597)	(25,595)
Prepaid expenses	498,710	(1,927,459)	(552,196)
Trade and other payables	724,569	182,277	96,615
Contract liabilities	786,413	130,605	396,097
Other financial liabilities	(64,139)	(61,764)	(15,156)
Cash used in operating activities	(14,007,923)	(10,996,819)	(8,251,438)
Investing activities
Subscription to debentures [note 8]			(3,400,000)
Business acquisition, net of cash acquired [note 5]			(5,029,416)
Additions to property and equipment	(938,802)	(1,175,931)	(544,354)
Proceeds from the disposal of property and equipment	401,782	243,630	34,101
Additions to intangible assets		(32,202)	(528,726)
Cash used in investing activities	(537,020)	(964,503)	(9,468,395)
Financing activities
Credit facility	155,000		(170,000)
Addition in long-term debts	258,000	282,424
Repayment of long-term debt	(207,607)	(135,230)	(419,090)
Advances from related parties		176,771
Initial public offering, net of transaction costs paid			33,430,239
Issuance of shares and warrants, net of transaction costs paid	12,437,523		2,025,000
Shares issued upon options conversion	163,461	10,001
Repayment of lease liabilities	(726,893)	(695,749)	(295,316)
Cash provided by (used in) financing activities	12,079,484	(361,783)	34,570,833
Net (decrease) increase in cash during the year	(2,465,459)	(12,323,105)	16,851,000
Cash, beginning of year	5,824,716	18,147,821	1,296,821
Cash, end of year	$ 3,359,257	$ 5,824,716	$ 18,147,821

Incorporation and nature of bus

Incorporation and nature of business	12 Months Ended
	Aug. 31, 2023
Incorporation and nature of business
Incorporation and nature of business	1. Incorporation and nature of business Vision Marine Technologies Inc. [the “Company”] was incorporated on August 29, 2012 and its principal business is to manufacture and sell or rent electric boats. The Voting Common Shares of the Company are listed under the trading symbol “VMAR” on Nasdaq. The Company is incorporated in Canada and its head office and registered office is located at 730 Curé-Boivin boulevard, Boisbriand, Quebec, J7G 2A7. Business seasonality The Company’s operating results generally vary from quarter to quarter as a result of changes in general economic conditions and seasonal fluctuations, among other things, in each of its reportable segments. This means the Company’s results in one quarter are not necessarily indicative of how the Company will perform in a future quarter. Sale of electric boats The sale of electric boats segment has a seasonal aspect to its operations. Most customers purchase their electric boats from the Company with the intention of utilizing them during the summer period which typically runs from early June to late August and corresponds to the Company’s fourth quarter of a financial year. As such, the revenues in this operating segment fluctuate based on the level of boat deliveries, with a high and a low in the fourth quarter and the first quarter, respectively. Rental of electric boats Revenue generated by the rental of electric boats segment also has a seasonal aspect to its operations. Boat rental as an activity is highly sought by customers when the weather is milder, which is typically the case during the period from May to August. A colder-than-expected or rainier summer in any given year could have an impact on the segment’s revenues and hence on its profitability. Revenue from the boat club memberships is not impacted by seasonality as the memberships are typically on an annual basis.

Basis of preparation

Basis of preparation	12 Months Ended
	Aug. 31, 2023
Basis of preparation
Basis of preparation	2. Basis of preparation and going concern uncertainty Compliance with IFRS These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards [“IFRS”] as issued by the International Accounting Standards Board [“IASB”] and interpretations issued by the International Financial Reporting Interpretations Committee [“IFRIC”] in effect on August 31, 2023. The consolidated financial statements were authorized for issue by the Board of Directors on November 27, 2023. Going concern uncertainty As of August 31, 2023, the Company has cash of $3,359,257 and working capital of $3,676,936 . The Company has incurred recurring losses, has not yet achieved profitable operations and has a deficit of $51,548,737 since its inception. The cash flows from operations were negative for the three years ended August 31, 2023. Additional financing will be needed by the Company to fund its operations and to commercialize the E-Motion powertrain business. These matters, when considered in aggregate, indicate the existence of a material uncertainty that raises substantial doubt about the Company’s ability to continue as a going concern for at least 12 months from the issuance of these consolidated financial statements. In view of these matters, continuation as a going concern is dependent upon the continued operations of the Company which will be determined by the Company’s ability to meet its financial requirements, including its ability to raise additional capital. The Company is evaluating several different strategies and is actively pursuing actions that are expected to increase its liquidity position, including, but not limited to, pursuing additional cost savings initiatives and seeking additional financing from both the public and private markets through the issuance of equity securities. For the year ended August 31, 2023, the Company was able to raise net proceeds from issuance of shares of $12,437,523 . However, the Company's management cannot provide assurances that the Company will be successful in accomplishing any of its proposed financing plans. Management also cannot provide any assurance as to unforeseen circumstances that could occur within the next 12 months which could increase the Company’s need to raise additional capital on an immediate basis, which additional capital may not be available to the Company. The accompanying consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue its operations for the foreseeable future and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. These consolidated financial statements as at and for the year ended August 31, 2023 do not include any adjustments to the carrying amounts and classification of assets, liabilities and reported expenses that may otherwise be required if the going concern basis was not appropriate. Such adjustments could be material. Basis of consolidation The consolidated financial statements include the accounts of the Company, and the subsidiaries that it controls. Control exists when the Company has the power over the subsidiary, when it is exposed or has rights to variable returns from its involvement with the subsidiary and when it has the ability to use its power to affect its returns. Subsidiaries that the Company controls are consolidated from the effective date of acquisition up to the effective date of disposal or loss of control. Details of the Company’s significant subsidiaries at the end of the reporting period are set out below. ​ Name of subsidiary Principal activity Country of incorporation and operation Proportion of ownership held by the Company 7858078 Canada Inc. ​ Owns an electric boat rental center ​ Canada ​ 100% EB Rental Ltd. ​ Operates an electric boat rental center ​ United States ​ 100% EB Rental Ventura Corp. ​ Operates an electric boat rental center ​ United States ​ 100% Vision Marine Technologies Corp. ​ Operates an electric boat service center ​ United States ​ 100% ​ Use of estimates and judgments The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results ultimately may differ from those estimates. Areas where estimates are significant to the consolidated financial statements are disclosed in note 4.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Aug. 31, 2023
Significant accounting policies
Significant accounting policies	3. Significant accounting policies Business combination Cash and cash equivalents Cash and cash equivalents include cash on hand, cash held on trust, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less. Trade and other receivables Trade receivables are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 days. The Company has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit loss, trade receivables have been grouped based on days overdue. Other receivables are recognized at amortized cost, less any allowance for expected credit loss. Inventories Inventories are stated at the lower of cost and net realizable value. Raw materials are valued on a first-in first-out basis. Cost of work in progress and finished goods comprises direct materials and delivery costs, direct labour, import duties and other taxes, and appropriate proportion of variable and fixed overhead expenditure based on normal operating capacity. Cost of purchased inventory is determined after deducting rebates and discounts received or receivable. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completion and the estimated costs necessary to make the sale. Grants and investment tax credits Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. Where retention of a government grant is dependent on the Company satisfying certain criteria, it is initially recognized as deferred income. When the criteria for retention have been satisfied, the deferred income balance is released to the statement of consolidated comprehensive loss or netted against the asset purchased. Leases Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease [i.e., the date the underlying asset is available for use]. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Company is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term ranging from two to six years . Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments [including in-substance fixed payments] less any lease incentives receivable and variable lease payments that depend on an index or a rate. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. Interest accretion is recorded as interest expense in finance costs. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value [i.e., below $5,000]. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. For the year-ended August 31, 2023, the expense for leases of low-value assets is insignificant. Property and equipment Property and equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. Cost includes expenditures that are directly attributable to the acquisition of the asset. Depreciation is recorded to recognize the cost of assets over their useful lives. The estimated useful lives and depreciation methods are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. ​ Asset type Methods Rates Computer equipment Declining balance method 55% Machinery and equipment Declining balance method 20% Rolling stock Declining balance method 30% Leasehold improvements Straight-line method Over the term of the lease Boat rental fleet Straight-line method 15 years Moulds Straight-line method 25 years ​ Any item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sales and proceeds and the carrying amount of the asset and is recognized in profit or loss. Repairs and maintenance costs that do not improve or extend productive life are recognized in profit or loss in the period in which the costs are incurred. Intangible assets and goodwill Expenditure on research activities is recognized in net earnings as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in net earnings as incurred. The Company has not capitalized any development costs. When awarded with government grants and income tax credits, the Company recognizes the income either in net loss, netted with the related expenses, or as a reduction of the cost, when related with capitalized development expenditure. Goodwill arising from business combinations is initially recognized when the fair value of the separately identifiable assets the Company acquired and liabilities the Company assumed is lower than the consideration paid [including the recognized amount of the non-controlling interest, if any]. If the fair value of the consideration transferred is lower than that of the separately identified assets and liabilities, the Company immediately recognizes the difference as a gain in the consolidated statement of comprehensive loss. Other intangible assets, including intellectual property, software, trade name, backlog and website that have finite useful lives are measured at cost less accumulated amortization and accumulated impairment losses. Amortization is calculated over the cost of the asset less its residual value. Amortization is recognized in net earnings on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use. The estimated useful lives are as follows: ​ Asset type Methods Rates Intellectual property Straight-line method 10 years Software Straight-line method 7 years Trade name Straight-line method 5 years Backlog Straight-line method 3 years Website Straight-line method 5 years ​ Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate. Impairment of non-financial assets Non-financial assets other than goodwill At the end of each reporting period, the Company reviews the carrying amounts of its non-financial assets, other than goodwill, to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount of the asset is estimated. Where it is not possible to estimate the recoverable amount of an individual asset, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets [the “cash-generating unit”, or “CGU”]. Recoverable amount is the greater of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. If the recoverable amount of an asset or CGU is lower than its carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statement of comprehensive loss. Where an impairment loss subsequently reverses, the carrying amount of the asset or CGU is increased to the revised recoverable amount, to the extent that the carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized. A reversal of an impairment loss is recognized immediately in the consolidated statement of comprehensive loss. Goodwill After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For purposes of impairment testing, goodwill is allocated to each of the Company’s CGU [or groups of CGUs] that is expected to benefit from the synergies of the combination. A CGU to which goodwill has been allocated is tested for impairment annually, or more frequently when there is indication that the CGU may be impaired. If the recoverable amount of the CGU is less than its carrying amount, the impairment loss is allocated first to reduce the goodwill allocated to the CGU and then, to reduce the carrying amounts of the other assets in the CGU on a pro-rata basis. Any impairment loss is recognized in the consolidated statement of comprehensive loss. An impairment loss recognized for goodwill is not reversed in subsequent periods. Trade and other payables These amounts represent liabilities for goods and services provided to the entity prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. Provisions Provisions are recognized when the Company has a present obligation as a result of a past event, it is probable the Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a current pre-tax rate specific to the liability. The increase in the provision resulting from the passage of time is recognized as a finance cost. Onerous contracts An onerous contract is a contract under which the unavoidable costs (i.e., the costs that the Company cannot avoid because it has the contract) of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling a contract comprises the costs that relate directly to the contract (i.e., both incremental costs and an allocation of costs directly related to contract activities). When the Company has a contract that is onerous, the present obligation under the contract is recognized and measured as a provision. However, before a separate provision for an onerous contract is established, the Company recognizes any impairment loss that has occurred on assets used in fulfilling the contract. Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement. Financial instruments Classification and measurement of financial instruments The Company measures its financial assets and financial liabilities at fair value on initial recognition, which is typically the transaction price unless a financial instrument contains a significant financing component. Subsequent measurement is dependent on the financial instrument’s classification which in the case of financial assets, is determined by the context of the Company’s business model and the contractual cash flow characteristics of the financial asset. Financial assets are classified into two categories: [1] measured at amortized cost and [2] fair value through profit and loss [“FVTPL”]. Financial liabilities are subsequently measured at amortized cost at the effective interest rate, other than financial liabilities that are measured at FVTPL or designated as FVTPL where any change in fair value resulting from an entity’s own credit risk is recorded as other comprehensive income [“OCI”]. The Company assesses the classification of warrants to purchase common shares of the Company, whether the warrants issued meet the criteria of an equity instrument (i.e. the warrants would be settled by the issuance of fixed number of common shares of the Company at a fixed exercise price) or a financial liability. Since the exercise price of these warrants is denominated in U.S. dollars, while the functional currency of the Company is Canadian dollar, the value of the proceeds on exercise of the warrants is not fixed and will vary based on the foreign exchange rate movements. As such, the Company classified the warrants, other than warrants issued as compensation for goods and services, as derivative liabilities, measured at fair value at initial recognition and at each reporting period. Any changes in fair value are recorded as gain or loss in the consolidated statement of comprehensive loss. Refer to note 19 and 25 for details on the warrants issued and outstanding for the year ended August 31, 2023, the derivative liabilities recorded and the assumptions used to determine the fair value. Amortized cost The Company classifies trade and other receivables, other financial assets, trade and other payables, other financial liabilities, long-term debt and advances to/from related parties as financial instruments measured at amortized cost. The contractual cash flows received from the financial assets are solely payments of principal and interest and are held within a business model whose objective is to collect the contractual cash flows. Fair value through profit and loss The Company classifies debentures as financial instruments measured at fair value through profit and loss since the contractual cash flows received from the financial asset are not solely payments of principal and interest. Impairment of financial assets The Company recognizes a loss allowance for expected credit losses on financial assets measured at amortized cost. The measurement of the loss allowance depends upon the Company’s assessment at the end of each reporting period as to whether the financial instrument’s credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available, without undue cost or effort to obtain. Where there has not been a significant increase in exposure to credit risk, a 12-month expected credit loss allowance is estimated. The amount of expected credit loss recognized is measured on the basis of the probability weighted present value of anticipated cash shortfalls over the life of the instrument discounted at the original effective interest rate. Impairment provisions for current and non-current trade receivables are recognized based on the simplified approach within IFRS 9 using a provision matrix in the determination of the lifetime expected credit losses. Equity instruments Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issuance costs. The Company’s shares are classified as equity instruments. Revenue recognition Revenue is recognized at an amount that reflects the consideration to which the Company is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the Company: ● identifies the contract with the customer; ● identifies the performance obligations in the contract; ● determines the transaction price which takes into account estimates of variable consideration and the time value of money; ● allocates the transaction price to separate performance obligations on the basis of relative stand-alone selling price of each distinct good or service to be delivered; and, ● recognizes revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. The Company enters into contracts with customers, as well as distributor agreements with specific distributors for the sale of boats. Sale of boats Revenue from the sale of boats, including incidental shipping fees, is recognized at the point in time when the customer obtains control of the goods, which is generally at the shipping point. In the context of its distributor agreements, control is passed at the shipping point to the distributor as the Company has no further performance obligations at that point. The Company concluded that it is the principal in its revenue arrangements, because it typically controls the boats before transferring them to the customer. The amount of consideration the Company receives, and the revenue recognized varies with volume rebate programs offered to distributors. When the Company offers retrospective volume rebates, it estimates the expected volume rebates based on an analysis of historical experience, to the extent that it is highly probable that a significant reversal will not occur. The Company adjusts its estimate of revenue related to volume rebates at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. The Company recognizes customer deposits on the sale of boats as contract liabilities. Boat rental and boat club membership revenue Revenue from boat rentals is recognized at a point in time when the services are completed given the short term rental period. Boat club membership revenue is recognized over time as the service is provided. These services are typically provided, and thus revenue is typically recognized, on a monthly basis. The Company recognizes customer prepayments on boat rentals and boat club memberships as contract liabilities. Sale of parts and boat maintenance Revenue from the sale of parts and related maintenance services are recognized at the point in time when the customer obtains control of the parts and when services are completed. Other Other revenue is recognized when it is received or when the right to receive payment is established. Contract liabilities A contract liability is recognized if a payment is received, or a payment is due [whichever is earlier] from a customer before the Company transfers the related goods or services. Contract liabilities are recognized as revenue when the Company performs under the contract [i.e., transfers control of the related goods or services to the customer]. Share-based payments The Company has a share option plan for key employees, consultants, advisors, officers and directors from which options to purchase common stock of the Company are issued. The Company also issues warrants to non-employees granting the right to purchase common stock of the Company at a determined exercise price . Share-based compensation costs are accounted for on a fair value basis, as measured at the grant date, using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services similar to those performed by an employee. In situations where options or warrants have been issued to non-employees and some or all of the services received by the Company can be specifically identified, the options or warrants are measured at the fair value of the services received. If the services cannot be specifically identified, the options or warrants are measured at the fair value of the options issued. All share-based remuneration is ultimately recognized as an expense in profit or loss with a corresponding credit to contributed surplus. If vesting periods or other vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Any adjustment to cumulative share-based compensation resulting from a revision is recognized in the current period. The number of vested options ultimately exercised by holders does not impact the expense recorded in any period. Foreign currency translation The Company’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. The functional currencies of 7858078 Canada Inc. and EB Rental Ltd. are the Canadian dollar and the US dollar, respectively. The Company and its subsidiaries each determine their functional currency based on the currency of the primary economic environment in which they operate. Transactions denominated in a currency other than the functional currency of an entity are translated at the exchange rate in effect on the transaction date. The resulting exchange gains and losses are included in each entity’s net loss in the period in which they arise. The Company’s foreign operations are translated to the Company’s presentation currency, for inclusion in the consolidated financial statements. Foreign-denominated monetary and non-monetary assets and liabilities of foreign operations are translated at exchange rates in effect at the end of the reporting period and revenue and expenses are translated at exchange rates in effect at the transaction date. The resulting translation gains and losses are included in other comprehensive income with the cumulative gain or loss reported in accumulated other comprehensive income. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is reclassified to profit or loss. The exchange rates for the currencies used in the preparation of the consolidated financial statements were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchange rate as at ​ Average exchange rate for year ended ​ August 31, August 31, August 31, August 31, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 US dollar 1.3535 1.3076 1.3465 1.2717 ​ Taxes Tax expense comprises current and deferred tax. Tax is recognized in net loss except to the extent it relates to items recognized in other comprehensive income or directly in equity. Current tax Current tax expense is based on the results for the period as adjusted for items that are not taxable or not deductible. Current tax is calculated using tax rates and laws that were enacted or substantively enacted at the end of the reporting period. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. Deferred tax Deferred taxes are the taxes expected to be payable or recoverable on differences between the carrying amounts of assets in the statement of financial position and their corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences between the carrying amounts of assets and their corresponding tax bases. Deferred tax assets are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized. Such assets and liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill or from the initial recognition [other than in a business combination] of other assets in a transaction that affects neither the taxable profit nor the accounting profit. The Company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Earnings per share Basic earnings per share is calculated by dividing the profit or loss attributable to equity holders of the Company by the weighted average number of common stock outstanding during the year. Diluted income per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of common stock outstanding, adjusted for the effects of all dilutive potential common stock. For the purpose of calculating diluted earnings per share, the Company assumes the exercise of dilutive options and warrants of the entity. The assumed proceeds from these instruments are regarded as having been received from the issue of common stock at the average market price of common shares during the period. The difference between the number of common shares issued and the number of common shares that would have been issued at the average market price of common shares during the period is treated as an issue of common shares for no consideration. New and amended standards and interpretations The Company applied certain amendments to the accounting standards, which are effective for annual periods beginning on or after 1 January 2023. The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments were effective for annual reporting periods beginning on or after January 1, 2022. The amendments did not have a material impact on the Company’s consolidated financial statements. Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 Property, plant and equipment The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The amendments are not expected to have a material impact on the Company’s consolidated financial statements. Standards issued but yet not effective The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s financial statements are disclosed below. The Company intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Definition of Accounting Estimates - Amendments to IAS 8 The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and the correction of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. The amendments are not expected to have a material impact on the Company’s consolidated financial statements. Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 The amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a requirement to disclose their ‘material’ accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments are not expected to have a material impact on the disclosures in the Company’s consolidated financial statements. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 The amendments to IAS 12 Income Tax narrow the scope of the initial recognition exception, so that it

Significant accounting estimate

Significant accounting estimates and assumptions	12 Months Ended
	Aug. 31, 2023
Significant accounting estimates and assumptions
Significant accounting estimates and assumptions	4. Significant accounting estimates and assumptions The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Estimates and judgments are continuously evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual outcomes can differ from these estimates. Going concern uncertainty In assessing whether the going concern assumption is appropriate and whether there are material uncertainties that raise substantial doubt about the Company’s ability to continue as a going concern, management must estimate future cash flows for a period of at least twelve months following the end of the reporting period by considering relevant available information about the future. In addition, management must make assumptions about what actions it will take to increase the Company’s liquidity position. Given that it is difficult to adequately predict future cash flows and the Company’s ability to raise additional financing, management has concluded that there are material uncertainties related to events or conditions that raise substantial doubt upon the Company’s ability to continue as a going concern for at least the next twelve months. Impairment of non-financial assets Impairment exists when the carrying value of an asset or cash generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The Company concluded the fair value less costs of disposal will yield a higher recoverable amount, which is based on a discounted cash flow (“DCF”) model. The fair value measurement is categorized within Level 3 of the fair value hierarchy. The cash flows are derived from cash flow projections over a 5 - year period, including future investments and expansion activities that will enhance the performance of the assets of the CGU. As at August 31, 2023, all of the Company’s goodwill is allocated to the boat rental operation CGU, which represents the lowest level within the Company at which the goodwill is monitored for internal management purposes. For the year ended August 31, 2023, there was no impairment of goodwill. The recoverable amount is sensitive to the discount rate used for the DCF model, as well as the expected future cash-inflows, gross profit and the growth rate used for extrapolation purposes. The post-tax discount rate of 28% used in the DCF is based on a weighted average cost of capital calculated using observable market-based inputs or a benchmark of a sample of representative publicly traded companies. The long-term growth rate of 2% used for extrapolation purposes is based on published research growth rates. Any reasonable negative change in the key assumptions used could cause the carrying value of this CGU to exceed its recoverable amount. Financial instruments measured at fair value In measuring financial instruments at fair value, the Company makes estimates and assumptions, including estimates and assumptions about interest rates, credit spreads and other market conditions. Financial instruments measured at fair value include derivative liabilities [note 19] and investment in Limestone [note 8]. Provision for impairment of inventories The provision for impairment of inventories assessment requires a degree of estimation and judgment. The level of the provision is assessed by taking into account the recent sales experience, the ageing of inventories and other factors that affect inventory obsolescence. Income tax Provisions for taxes are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant factors. The Company reviews the adequacy of these provisions at the end of the reporting period. However, it is possible that at some future date an additional liability could result from audits by taxing authorities. Where the final outcome of these tax-related matters is different from the amounts that were initially recorded, such differences will affect the tax provisions in the period in which such determination is made. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. In assessing the recoverability of deferred tax assets, the Company relies on the same forecast assumptions used elsewhere in the financial statements and in other management reports, which, among other things, reflect the potential impact of climate-related development on the business. Share-based payments The Company measures the cost of equity-settled transactions with employees by reference to the fair value of the equity instrument at the date at which they are granted. The fair value is determined by using the Black-Scholes model taking into account the terms and conditions upon which the instruments were granted. Judgment is exercised in determining the expected life and historical volatility. The accounting estimates and assumptions relating to equity-settled share-based payments would have no impact on the carrying amounts of assets and liabilities but may impact profit or loss and equity. Lease term The lease term is a significant component in the measurement of both the right-of-use asset and lease liability. Judgment is exercised in determining whether there is reasonable certainty that an option to extend the lease will be exercised, when ascertaining the periods to be included in the lease term. In determining the lease term, all facts and circumstances that create an economical incentive to exercise an extension option are considered at the lease commencement date. The Company reassesses whether it is reasonably certain to exercise an extension option if there is a significant event or significant change in circumstances. Incremental borrowing rate Where the interest rate implicit in the lease cannot be readily determined, an incremental borrowing rate is estimated to discount future lease payments to measure the present value of the lease liability at the lease commencement date. Such a rate is based on what the Company estimates it would have to pay a third party to borrow the funds necessary to obtain an asset of a similar value to the right-of-use asset, with similar terms, security and economic environment.

Goodwill

Goodwill	12 Months Ended
	Aug. 31, 2023
Goodwill.
Goodwill	5. Goodwill On June 3, 2021, the Company completed the acquisition of EB Rental Ltd. [“EBR”] by acquiring all the issued and outstanding shares of 7858078 Canada Inc. EBR operates an electric boat rental operation located in Newport beach, California, with a fleet of over 20 ships. All boats operated by EBR are supplied by the Company, which offers the Company the ability to showcase its products and provide brand awareness. Before the acquisition, the Company and EBR were related through common ownership. EBR was acquired for cash consideration of U.S. $4,582,367 ( $5,546,039 ), financed entirely by the Company’s available cash on hand, and equity consideration of $3,474,232 representing 284,495 shares at U.S. $10.09 [approximately $12.21 ] per share. The balance of goodwill related to the acquisition of EBR is at $9,680,941 as at August 31, 2023 [2022 – $9,352,640 ], with the change since acquisition date due to foreign exchange translation.

Trade and other receivables

Trade and other receivables	12 Months Ended
	Aug. 31, 2023
Trade and other receivables
Trade and other receivables	6. Trade and other receivables ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Trade receivables ​ 59,364 108,716 Sales taxes receivable ​ 159,114 194,523 Other receivables ​ 332,358 169,309 ​ ​ 550,836 472,548 ​ Trade receivable disclosed above include amounts that are past due at the end of the reporting period for which the Company has not recognized an allowance for expected credit losses because there has not been a significant change in credit quality and the amounts are still considered recoverable. As at August 31, 2023, trade receivables of $59,364 [2022 – $108,706 ] were past due but not impaired. They relate to customers with no default history. The aging analysis of these receivables is as follows: ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ 0 – 30 ​ 13,986 77,625 31 – 60 ​ — — 61 – 90 ​ — 14,212 91 and over ​ 45,378 16,879 ​ ​ 59,364 108,716 ​ There were no movements in the allowance for expected credit losses for years ended August 31, 2023 and August 31, 2022.

Inventories

Inventories	12 Months Ended
	Aug. 31, 2023
Inventories
Inventories	7. Inventories ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ $ $ Raw materials ​ 1,553,501 1,709,368 Work-in-process ​ 369,753 75,170 Finished goods ​ 522,300 309,238 ​ ​ 2,445,554 2,093,776 ​ For the year ended August 31, 2023, inventories recognized as an expense amounted to $4,023,409 [2022 – $4,065,381 ; 2021 – $1,909,606 ]. For the year ended August 31, 2023, cost of sales includes depreciation of $471,940 [2022 – $687,023 ; 2021 - $232,195 ].

Investment in Limestone

Investment in Limestone	12 Months Ended
	Aug. 31, 2023
Investment in Limestone
Investment in Limestone	8. Investment in Limestone On May 14, 2021, the Company subscribed for and purchased 3,400 senior unsecured subordinated convertible debentures of The Limestone Boat Company Limited [“Limestone”], a publicly traded company listed under the trading symbol "BOAT" on the TSX Venture Exchange [the "Debentures"], for an aggregate amount of $3,400,000 . The Debentures bear interest at a rate of 10% per annum, payable annually in arrears, and have a 36-month term [the “Term”]. The Debentures are convertible at any time at the option of the Company into common shares of Limestone [“Common Shares”] at a conversion price of $0.36 per Common Share [the “Conversion Price”]. If at any time following 120 days from the date of issuance of the Debentures [the “Closing Date“] and prior to the date that is 30 days prior to the end of the Term, the volume weighted average closing price of the Common Shares on the TSX Venture Exchange, or such other exchange on which the Common Shares may be listed, is equal to or higher than $0.50 per Common Share for 20 consecutive trading days, Limestone may notify the Company that the Debentures will be automatically converted into Common Shares at the Conversion Price 30 days following the date of such notice. The Debentures are carried at fair value through profit and loss and are considered as Level 2 financial instruments in the fair value hierarchy. On January 20, 2023, Limestone announced that Limestone’s U.S. subsidiaries filed for voluntary petitions for relief under Chapter 7 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Tennessee. As a result, the Company recorded an impairment on the entire value of the Debentures at the amount $2,637,000 in the year ended August 31, 2023 [2022 – nil , 2021 - nil ]. For the year ended August 31, 2023, the Company recorded a loss of $88,866 [2022 - $670,000 ; 2021 – $550,000 ] for the change in fair value of the Debentures and interest income of $113,334 [2022 - $340,000 ; 2021 – $85,000 ] in net loss as a net financial income (expense). On July 18, 2023, the Company agreed with Limestone to convert the Debentures into common shares of Limestone at a conversion price of $0.071 , which was approved by the shareholders of Limestone and awaiting the issuance of the Company’s shareholder certificate. The Company maintained the fair value of its investment in Limestone at nil as at August 31, 2023.

Right-of-use assets

Right-of-use assets	12 Months Ended
	Aug. 31, 2023
Right-of-use assets
Right-of-use assets	9. Right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Computer ​ ​ ​ Boat rental ​ ​ ​ ​ Premises ​ equipment ​ Rolling stock ​ fleet ​ Total ​ $ $ $ $ $ Cost ​ Balance at August 31, 2021 ​ 2,746,118 3,646 202,536 326,868 3,279,168 Additions ​ 93,565 — 141,043 — 234,608 Disposals ​ — — (255,953) (115,409) (371,362) Currency translation ​ 40,356 — 394 — 40,750 Balance at August 31, 2022 ​ 2,880,039 3,646 88,020 211,459 3,183,164 Additions ​ 921,498 — — — 921,498 Disposals ​ — — (46,200) (170,298) (216,498) Transferred to Property and equipment ​ — ​ (3,646) ​ — ​ (41,161) ​ (44,807) Currency translation ​ 38,255 — 2,099 — 40,354 Balance at August 31, 2023 ​ 3,839,792 — 43,919 — 3,883,711 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 334,357 576 14,949 24,087 373,969 Depreciation ​ 488,050 2,302 71,488 89,617 651,457 Disposal ​ — — (66,122) (37,240) (103,362) Balance at August 31, 2022 ​ 822,407 2,878 20,315 76,464 922,064 Depreciation ​ 615,937 768 23,934 21,442 662,081 Disposal ​ — (3,646) (13,475) (97,906) (115,027) Balance at August 31, 2023 ​ 1,438,344 ​ — ​ 30,774 ​ — ​ 1,469,118 Net carrying amount ​ As at August 31, 2022 ​ 2,057,632 768 67,705 134,995 2,261,100 As at August 31, 2023 ​ 2,401,448 — 13,145 — 2,414,593 ​ During the year ended August 31, 2023, the Company exercised a purchase option and paid in full a lease liability related to a computer and boat rental fleet that was previously included in the right-of-use assets. As a result, the Company transferred the assets to property and equipment assets at its net book value of $44,807 [note 11] .

Property and equipment

Property and equipment	12 Months Ended
	Aug. 31, 2023
Property and equipment.
Property and equipment	10. Property and equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Machinery ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Rolling ​ Computer ​ ​ ​ Leasehold ​ Boat ​ ​ ​ equipment ​ stock ​ equipment ​ Moulds ​ improvements ​ rental fleet ​ Total ​ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ Cost ​ Balance at August 31, 2021 ​ 302,938 32,175 14,647 691,005 131,233 513,317 1,685,315 Additions ​ 30,146 197,739 11,284 220,919 133,123 582,720 1,175,931 Disposals ​ — (111,215) (4,899) — — (154,714) (270,828) Currency translation ​ — (35) — — — 30,154 30,119 Balance at August 31, 2022 ​ 333,084 118,664 21,032 911,924 264,356 971,477 2,620,537 Additions ​ 62,409 69,029 565 30,501 97,699 678,599 938,802 Transferred from Right-of-use assets ​ — ​ — ​ 3,646 ​ — ​ — ​ 41,161 ​ 44,807 Disposals ​ — (136,072) — — — (499,770) (635,842) Currency translation ​ — (2,347) — — — (70,115) (72,462) Balance at August 31, 2023 ​ 395,493 49,274 25,243 942,425 362,055 1,121,352 2,895,842 ​ ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 167,604 24,362 8,398 50,420 11,579 8,443 270,806 Depreciation ​ 30,200 23,938 5,079 22,608 32,926 43,196 157,947 Disposal ​ — (18,301) (674) — — (8,223) (27,198) Balance at August 31, 2022 ​ 197,804 29,999 12,803 73,028 44,505 43,416 401,555 Depreciation ​ 31,495 25,875 4,485 37,696 69,332 72,163 241,046 Disposal ​ — (21,864) — — — (38,821) (60,685) Balance at August 31, 2023 ​ 229,299 34,010 17,288 110,724 113,837 76,758 581,916 ​ ​ Net carrying amount ​ As at August 31, 2022 ​ 135,280 88,665 8,229 838,896 219,851 928,061 2,218,982 As at August 31, 2023 ​ 166,194 15,264 7,955 831,701 248,218 1,044,594 2,313,926 ​ As at August 31, 2023, moulds of $377,253 [August 31, 2022 – $ 346,752 ] are not depreciated because they are not ready for use.

Intangible assets

Intangible assets	12 Months Ended
	Aug. 31, 2023
Intangible assets
Intangible assets	11. Intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intellectual ​ Trade ​ ​ ​ ​ ​ property ​ Software ​ name ​ Backlog ​ Website ​ Total ​ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ Cost ​ Balance at August 31, 2021 ​ 1,035,070 73,573 93,856 79,220 18,771 1,300,490 Additions ​ — 28,202 4,000 — — 32,202 Currency translation ​ — — 438 330 87 855 Balance at August 31, 2022 ​ 1,035,070 101,775 98,294 79,550 18,858 1,333,547 Additions ​ ​ ​ ​ ​ ​ ​ Currency translation ​ — — 6,057 4,556 1,211 11,824 Balance at August 31, 2023 ​ 1,035,070 101,775 104,351 84,106 20,069 1,345,371 ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 55,581 7,107 4,633 6,520 927 74,768 Depreciation ​ 103,508 17,593 9,806 13,310 1,892 146,109 Balance at August 31, 2022 ​ 159,089 24,700 14,439 19,830 2,819 220,877 Depreciation ​ 103,508 12,920 20,426 16,911 4,005 157,770 Balance at August 31, 2023 ​ 262,597 37,620 34,865 36,741 6,824 378,647 ​ ​ Net carrying amount ​ As at August 31, 2022 ​ 875,981 77,075 83,855 59,720 16,039 1,112,670 As at August 31, 2023 ​ 772,473 64,155 69,486 47,365 13,245 966,724 ​ On February 16, 2021, the Company acquired intellectual property in exchange for cash consideration of EUR 300,000 ( $461,134 ) and the issuance of 30,000 shares of the Company [note 18] at a price of U.S. $15.07 [approximately $19.13 ] for total consideration of $1,035,070 .

Credit facility

Credit facility	12 Months Ended
	Aug. 31, 2023
Credit facility
Credit facility	12. Credit facility The Company has an authorized line of credit of $250,000 , renewable annually, bearing interest at prime rate plus 1% , secured by a first ranking movable hypothec of $750,000 on all present and future accounts receivable and inventory. As at August 31, 2023, the Company has drawn an amount of 155,000 [2022 – Nil ] on the line of credit.

Trade and other payables

Trade and other payables	12 Months Ended
	Aug. 31, 2023
Trade and other payables.
Trade and other payables	13. Trade and other payables ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Trade payables ​ 1,107,310 737,946 Sales taxes payable ​ 62,398 21,547 Government remittances ​ — 9,450 Salaries, vacation and other employee benefits payables ​ 585,192 261,388 ​ ​ 1,754,900 1,030,331 ​

Contract liabilities

Contract liabilities	12 Months Ended
	Aug. 31, 2023
Contract liabilities
Contract liabilities	14. Contract liabilities ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ 1,029,318 898,713 Payments received in advance ​ 3,330,235 2,502,080 Boat sale deposits ​ 151,572 87,609 Payments reimbursed ​ (8,131) (2,615) Transferred to revenues ​ (2,718,943) (2,475,307) Currency translation ​ 31,680 18,838 Closing balance ​ 1,815,731 1,029,318 ​

Lease liabilities

Lease liabilities	12 Months Ended
	Aug. 31, 2023
Lease liabilities
Lease liabilities	15. Lease liabilities ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ 2,415,549 2,966,816 Additions ​ 921,498 234,608 Repayment ​ (726,893) (695,749) Interest on lease liability ​ 139,132 141,994 Lease termination ​ (151,800) (273,652) Currency translation ​ 44,308 41,532 Closing balance ​ 2,641,794 2,415,549 ​ ​ Current ​ 647,638 561,168 Non-current ​ 1,994,156 1,854,381 ​ ​ 2,641,794 2,415,549 ​ Future undiscounted lease payments as at August 31, 2023 are as follows: ​ ​ ​ ​ $ Less than one year 775,991 One to five years 2,221,910 ​ 2,997,901 ​ Included in rent expense is $127,511 of short-term lease expense [2022 – $58,663 , 2021 - $50,186 ]. The lease liabilities have a weighted average interest rate of 5.79% [2022 – 5.4% , 2021 – 5.2% ].

Long-term debt

Long-term debt	12 Months Ended
	Aug. 31, 2023
Long-term debt.
Long-term debt	16. Long-term debt ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ $ $ The government assistance loan is non-interest bearing until December 31, 2022 at which time the loan bears interest at 5% per annum. The loan must be repaid by December 31, 2025. 40,000 39,342 ​ ​ Term loans, bearing interest at rates varying between 9.44% and 10.71% , repayable in monthly instalments of $23,337 , ending January 2025. 265,329 188,007 ​ ​ 305,329 227,349 Current portion of long-term debt 271,546 72,090 ​ 33,783 155,259 ​

Related party transactions

Related party transactions	12 Months Ended
	Aug. 31, 2023
Related party transactions
Related party transactions	17. Related party transactions Companies related through common ownership EB Rental Ltd. [prior to June 3, 2021] [note 5] 7858078 Canada Inc. [prior to June 3, 2021] [note 5] Montana Strategies Inc. Key management personnel of the Company have control over the following entities California Electric Boat Company Inc. 9335-1427 Quebec Inc. Hurricane Corporate Services Ltd. Mac Engineering, SASU – Since February 16, 2021 Ultimate founder shareholders and their individually controlled entities Alexandre Mongeon Patrick Bobby Robert Ghetti Immobilier R. Ghetti Inc. Société de Placement Robert Ghetti Inc. The following table summarizes the Company’s related party transactions for the year: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Revenues ​ Sales of boats ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 84,149 Patrick Bobby ​ — — — Sale of parts and boat maintenance ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 40,310 ​ ​ Expenses ​ Cost of sales ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 11,444 ​ ​ Research and Development ​ 9335-1427 Quebec Inc. ​ — — 75,020 Mac Engineering, SASU ​ 545,892 666,178 176,500 ​ ​ Travel and entertainment ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 8,926 ​ ​ Advertising and promotion ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 11,245 ​ ​ Office salaries and benefits ​ Montana Strategies Inc. ​ 29,059 62,462 — ​ The Company leases its Boisbriand premises from California Electric Boat Company Inc. with a right-of-use assets as at August 31, 2023 of $1,270,955 [August 31, 2021 – $889,866 ] and lease liability of $1,395,732 [August 31, 2021 – $971,399 ] [notes 9 and 15]. Remuneration of directors and key management of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Wages ​ 2,447,827 2,324,770 1,299,402 Share-based payments – capital stock ​ 433,263 — — Share-based payments – stock options ​ 382,196 2,560,031 6,081,900 ​ ​ 3,263,286 4,884,801 7,381,302 ​ At the end of the year, the amounts due to and from related parties are as follows: ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Share subscription receivable ​ 9335-1427 Quebec Inc. ​ 25,000 25,000 Alexandre Mongeon ​ 14,200 14,200 ​ ​ 39,200 39,200 ​ ​ Current advances to related party ​ Alexandre Mongeon ​ 20,135 16,736 ​ ​ Amounts due to related parties included in trade and other payable ​ Alexandre Mongeon ​ 19,384 16,000 Patrick Bobby ​ 13,847 12,308 Kulwant Sandher ​ 8,654 8,062 Xavier Montagne ​ 10,454 8,292 Mac Engineering, SASU ​ 9,935 — ​ ​ 62,274 44,662 ​

Capital stock

Capital stock	12 Months Ended
	Aug. 31, 2023
Capital stock.
Capital stock	18. Capital stock Authorized Voting Common Shares – Series Founder, Series Investor 1, Series Investor 2, voting and participating Non-Voting Common Shares, non-voting Preferred shares, without par value, non-cumulative annual dividend, redeemable at their issue price, non-participating, non-voting Issued ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ 11,171,800 voting common shares [2022 – 8,471,923 ] ​ 50,395,717 43,441,591 ​ Subscription and issuance of Voting Common Shares On January 12, 2022 and February 1, 2022, the Board of Directors authorized the issuance of 25,000 Voting Common Shares and 5,435 Voting Common Shares respectively to a third party in exchange for marketing services provided to the Company. On January 31, 2022, the Board of Directors authorized the issuance of 6,479 Voting Common Shares to a third party in exchange for sub-contracting services provided to the Company related to research and development. During the six-month period ended August 31, 2022, the Company issued 53,445 Voting Common Shares to third parties in exchange for marketing services provided to the Company. On August 25, 2022, the Company issued 2,703 Voting Common Shares upon the exercise of a former employee’s stock options. During the year ended August 31, 2023, the Company issued a total of 299,393 Voting Common Shares, respectively, to third parties in exchange for marketing services provided to the Company. During the year ended August 31, 2023, the Company issued 57,219 Voting Common Shares upon the exercises of two former employees and a consultant’s stock options. During the year ended August 31, 2023, the Company issued 2,398,265 Voting Common Shares and warrants to purchase Voting Common Shares, respectively, as part of the financing rounds for a total cash consideration price of $12,012,591 , net of transaction costs of $1,225,676 . During the year ended August 31, 2023, the warrants issued are to purchase 2,398,265 Voting Common Shares of the Company for a period of three years from the issuance date at an exercise price at U.S. $4.21 . As at August 31, 2023, the derivative liabilities related to the warrants issued amounted to $5,558,822 [August 31, 2022 – Nil ], with the allocated transaction costs of $718,546 recorded in net finance income (expense) [note 22] . ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ — ​ — Additions 7,614,510 — Change in estimate (2,055,688) — Closing balance 5,558,822 — ​

Share-based payments

Share-based payments	12 Months Ended
	Aug. 31, 2023
Share-based payments
Share-based payments	19. Share-based payments Description of the plan The Company has a fixed option plan. The Company’s stock option plan is administered by the Board of Directors. Under the plan, the Company’s Board of Directors may grant stock options to employees, advisors and consultants, and designates the number of options and the share price pursuant to the new options, subject to applicable regulations. The options, when granted, will have an exercise price of no less than the estimated fair value of shares at the date of grant. Stock options On multiple grant dates, the Company granted a total of 1,664,526 stock options at exercise prices varying between $2.78 and $16.29 per share to directors, officers, employees and consultants of the Company. The stock options will expire 5 to 10 years from the grant dates. The Company recognizes share-based payments expense for option grants based on the fair value at the date of grant using the Black-Scholes valuation model. The share-based payments expense recognized for the year ended August 31, 2023 amounts to $1,136,182 [2022 – $2,699,481 ; 2021 - $7,121,444 ]. The table below lists the assumptions used to determine the fair value of these option grants. Volatility is based on the historical share price volatility of the Company and other public companies with characteristics similar to the Company. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Market ​ Expected Risk-free Expected Grant date ​ price ​ price ​ volatility ​ interest rate ​ life ​ $ $ % % [years] May 27, 2020 ​ 3.70 3.70 ​ 84 ​ 0.4 ​ 5 May 27, 2020 ​ 2.78 3.70 ​ 84 ​ 0.4 ​ 5 October 23, 2020 ​ 3.70 3.70 ​ 97 ​ 0.4 ​ 5 November 24, 2020 ​ 16.29 13.03 ​ 101 ​ 0.4 ​ 5 November 24, 2020 ​ 5.68 ​ 5.72 ​ 75 ​ 3.6 ​ 4 February 23, 2021 ​ 15.75 15.05 ​ 103 ​ 0.6 ​ 5 May 14, 2021 ​ 5.68 5.72 ​ 75 ​ 3.6 ​ 3 July 14, 2021 ​ 9.25 9.01 ​ 105 ​ 0.7 ​ 5 September 21, 2021 ​ 8.85 8.58 ​ 106 ​ 0.9 ​ 5 January 22, 2022 ​ 5.65 ​ 5.52 ​ 107 ​ 1.5 ​ 5 November 30, 2022 ​ 6.09 ​ 6.09 ​ 107 ​ 3.1 ​ 5 December 1, 2022 ​ 5.83 ​ 5.83 ​ 107 ​ 3.0 ​ 5 March 22, 2023 ​ 5.76 ​ 5.14 ​ 75 ​ 3.6 ​ 2 March 25, 2023 ​ 5.77 ​ 5.23 ​ 75 ​ 3.6 ​ 3 March 25, 2023 ​ 5.77 ​ 5.23 ​ 75 ​ 3.6 ​ 4 April 20, 2023 ​ 5.79 5.27 ​ 75 ​ 3.6 ​ 5 ​ The following tables summarize information regarding the option grants outstanding as at August 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ average ​ ​ options ​ exercise price ​ ​ # ​ $ Balance at August 31, 2021 1,659,121 ​ 9.95 Granted 152,500 ​ 6.70 Forfeited (102,500) ​ 13.59 Exercised ​ (2,703) ​ 3.70 Balance at August 31, 2022 1,706,418 ​ 9.45 Granted 88,500 ​ 5.80 Forfeited (268,158) ​ 9.65 Stock options modifications ​ (370,000) ​ 5.78 Exercised (57,219) ​ 2.86 Balance at August 31, 2023 1,099,541 ​ 5.22 ​ On March 25, 2023, 425,000 options previously granted to directors and officers of the Company with exercise price ranging from U.S. $7.42 ( $8.98 ) to U.S. $12.50 ( $16,29 ) and five-year term were cancelled and the Company agreed to issue 255,000 stock options with an exercise price of U.S. $4.21 ( $5.78 ). The modification of these stock options granted resulted in an increase in the fair value of the stock options at the date of modification of $129,800 , recorded as stock-based compensation expense for the year ended August 31, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Weighted average ​ Weighted average ​ ​ Exercise price ​ options ​ grant date ​ remaining ​ Exercisable range ​ outstanding ​ fair value ​ contractual life ​ options $ # $ [years] # 2.78 – 3.70 ​ 454,041 ​ 2.48 ​ 2.13 497,869 5.65 – 5.83 ​ 580,500 ​ 2.94 ​ 4.51 498,300 6.09 – 8.85 ​ 30,000 ​ 6.26 ​ 7.83 25,000 16.29 ​ 35,000 ​ 9.33 ​ 7.50 35,000 ​ Warrants On November 23, 2020, the Company granted the underwriter the option to purchase 151,800 Voting Common Shares of the Company for a period of five years from the date of the initial public offering at an exercise price of U.S. $12.50 ( $16.53 ). On August 5, 2022, the Company granted the underwriter the option to purchase 50,000 Voting Common Shares of the Company for a period of four years from the grant date at an exercise price of U.S. $8.00 ( $10.30 ). On January 19, 2023, as part of a share subscription, the Company issued warrants with the option to purchase 554,253 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price of U.S. $4.21 ( $5.63 ). On February 17, 2023, as part of a share subscription, the Company issued warrants with the option to purchase 475,059 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price of U.S. $4.21 ( $5.67 ). On April 19, 2023, as part of a share subscription, the Company issued warrants with the option to purchase 381,293 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price of U.S. $4.21 ( $5.64 ). On June 16, 2023, as part of a share subscription, the Company issued warrants with the option to purchase 493,828 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price of U.S. $4.21 ( $5.35 ). On August 2, 2023, as part of a share subscription, the Company issued warrants with the option to purchase 493,832 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price of U.S. $4.21 ( $5.37 ). The table below lists the assumptions used to determine the fair value of these warrants granted or issued at the grant or issuance date. Volatility is based on the historical share price volatility of the Company and other public companies with characteristics similar to the Company. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk-free ​ Exercise Market Expected ​ interest Expected ​ ​ price ​ price ​ volatility ​ rate ​ life Grant or Issuance date ​ $ ​ $ ​ % ​ % ​ [years] August 5, 2022 ​ 10.30 ​ 7.20 ​ 100 ​ 2.9 ​ 3 January 19, 2023 ​ 5.63 ​ 5.63 ​ 100 ​ 3.4 ​ 3 February 17, 2023 5.67 6.05 100 4.0 3 April 19, 2023 5.64 5.55 75 3.9 3 June 16, 2023 5.35 5.50 75 4.1 3 August 2, 2023 5.37 5.10 75 4.8 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Weighted average ​ ​ ​ ​ warrants ​ remaining ​ Exercise price ​ outstanding ​ contractual life Grant or Issuance date ​ $ ​ # ​ [years] November 23, 2020 ​ 16.53 ​ 151,800 ​ 2.23 August 5, 2022 ​ 10.30 ​ 50,000 ​ 1.93 January 19, 2023 5.63 554,253 2.39 February 17, 2023 5.67 475,059 2.47 April 19, 2023 5.64 381,293 2.64 June 16, 2023 5.35 493,828 2.79 August 2, 2023 5.37 493,832 2.92 ​

Revenues

Revenues	12 Months Ended
	Aug. 31, 2023
Revenues
Revenues	20. Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Sales of boats ​ 1,287,979 2,459,365 2,080,110 Sales of parts and boat maintenance ​ 324,720 97,721 75,205 Boat rental and boat club membership revenue ​ 4,038,803 4,793,860 1,355,548 Other ​ — — 2,925 ​ ​ 5,651,502 7,350,946 3,513,788 ​ The geographical distribution of revenues from external customers is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sale of ​ Rental of ​ 2023 ​ ​ electric boats ​ electric boats ​ Total ​ $ $ $ Canada ​ 348,570 ​ — ​ 348,570 USA ​ 1,078,124 ​ 4,038,803 ​ 5,116,927 Other ​ 186,005 ​ — ​ 186,005 ​ ​ 1,612,699 ​ 4,038,803 ​ 5,651,502 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 ​ Sale of Rental of ​ ​ ​ ​ ​ ​ electric boats ​ electric boats ​ Total ​ Total ​ $ $ $ $ Canada ​ 557,639 ​ — ​ 557,639 ​ 571,216 USA ​ 1,292,666 ​ 4,793,861 ​ 6,086,527 ​ 2,692,599 Other ​ 706,780 ​ — ​ 706,780 ​ 249,973 ​ ​ 2,557,085 ​ 4,793,861 ​ 7,350,946 ​ 3,513,788 ​

Grants and investment tax credi

Grants and investment tax credits	12 Months Ended
	Aug. 31, 2023
Grants and investment tax credits
Grants and investment tax credits	21. Grants and investment tax credits During the year ended August 31, 2023, the Company recognized grants and investment tax credits amounting to $232,882 [August 31, 2022 – $1,458,632 ; August 31, 2021 - $921,658 ], of which $144,032 are presented against research and development expenses [August 31, 2022 – $1,408,840 ; August 31, 2021 - $859,516 ], $Nil against cost of sales [August 31, 2022 – $8,535 ; August 31, 2021 - $Nil ] and $Nil as a reduction of property and equipment and intangible assets [August 31, 2022 – $40,584 ; August 31, 2021 - $44,939 ]. Office salaries and benefits are presented net of $88,850 [August 31, 2022 – $Nil ; August 31, 2021 - $17,203 ] of grants.

Net finance expense (income)

Net finance expense (income)	12 Months Ended
	Aug. 31, 2023
Net finance expense (income)
Net finance expense	22. Net finance expense (income) ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Interest and bank charges ​ 142,117 184,895 123,100 Interest income ​ (113,334) (379,288) — Foreign currency exchange (gain) loss ​ (208,132) (251,947) 1,583,292 Transaction costs ​ 719,167 ​ — ​ — Gain on derivative liabilities ​ (2,055,688) ​ — ​ — Loss (gain) on Debentures [note 8] ​ (88,666) 670,000 550,000 ​ ​ (1,604,536) 223,660 2,256,392 ​

Income taxes

Income taxes	12 Months Ended
	Aug. 31, 2023
Income taxes
Income taxes	23. Income taxes The income tax expense on the Company’s loss before tax differs from the theoretical amount that would arise using the federal, provincial and foreign statutory tax rates applicable. The difference is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Income taxes at the applicable tax rate of 26.5% [2022 – 26.5% ; 2021 – 26.5% ] ​ (5,606,886) (3,406,162) (3,977,204) Change in tax status following the initial public offering ​ — — (127,979) Adjustment in respect of current and deferred income tax of previous year ​ (72,894) (4,396) (207,601) Permanent differences ​ 70,418 823,119 2,100,615 Change in recognition of deferred income tax assets ​ 5,328,487 2,816,417 2,317,759 Other ​ — 29,365 — Total income tax expense (recovery) ​ (280,875) 258,343 105,590 ​ Deferred income taxes reflect the net tax impact of temporary differences between the value of assets and liabilities for accounting and tax purposes. The main components of the deferred tax expense and deferred tax assets and liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as at ​ Recognized ​ ​ ​ ​ ​ Balance as at ​ ​ August 31, ​ in net ​ Recognized ​ ​ ​ August 31, ​ ​ 2022 ​ loss ​ in equity ​ Other ​ 2023 ​ $ $ $ $ $ Temporary differences ​ ​ ​ ​ ​ Property and equipment ​ (155,298) ​ (20,228) ​ — ​ (8,650) ​ (184,176) Intangibles ​ (294,385) ​ 39,009 ​ — ​ 98 ​ (255,278) Net operating losses ​ 4,790,012 ​ 4,564,752 ​ — ​ — ​ 9,354,764 Financing fees ​ 705,594 ​ (107,450) ​ 134,225 ​ — ​ 732,369 Research and development ​ 430,835 ​ 557,162 ​ — ​ — ​ 987,997 Difference in timing of recognition ​ 259,118 ​ 493,379 ​ — ​ 3,403 ​ 755,900 Right-of-use asset ​ (616,907) ​ 19,531 ​ — ​ (6,613) ​ (603,989) Lease liability ​ 658,847 ​ (7,400) ​ — ​ 12,861 ​ 664,308 Net capital losses ​ 50,418 ​ — ​ — ​ — ​ 50,418 Unrecognized deferred tax assets ​ (6,016,278) ​ (5,328,487) ​ (134,225) ​ — ​ (11,478,990) Deferred tax liability ​ (188,044) ​ 210,268 ​ — ​ 1,099 ​ 23,323 ​ The net operating losses carried forward and deductible temporary differences for which deferred tax assets have not been recognized amounted to $45,415,000 as at August 31, 2023 [2022 - $23,849,000 ]. Of these amounts, $35,333,000 [2022 - $18,194,000 ] relates to net operating losses carried forward, that will expire between 2040 and 2043 and $3,541,000 [2022 - $1,439,000 ] relates to research and development expenditures, which can be carried forward indefinitely. As of August 31, 2023, the Company has available Canadian federal non-refundable investment tax credits of $642,000 (2022 - $240,000 ) related to research and development expenditures which may be used to reduce Canadian federal income taxes payable in future years. These non-refundable investment tax credits begin to expire in 2041. The benefits of these non-refundable investment tax credits have not been recognized in the consolidated financial statements.

Capital disclosures

Capital disclosures	12 Months Ended
	Aug. 31, 2023
Capital disclosures
Capital disclosures	24. Capital disclosures The Company’s objectives in managing capital are: ● to safeguard the entity’s ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders; and ● to provide an adequate return to shareholders by pricing products and services commensurately with the level of risk. ​ Capital is regarded as total equity, as recognized in the statement of financial position, plus net debt. Net debt is calculated as total borrowings less cash and cash equivalents. The Company manages and adjusts its capital structure considering changes in economic conditions. To maintain or adjust its capital structure, the Company may issue debt or new shares. Financing decisions are generally made on a specific transaction basis and depend on such things as the Company’s needs, capital markets and economic conditions at the time of the transaction. Management reviews its capital management approach on an ongoing basis and believes that this approach is reasonable, given the size of the Company. The Company does not have any externally imposed capital compliance requirements at August 31, 2023.

Financial risk management and f

Financial risk management and fair value measurement	12 Months Ended
	Aug. 31, 2023
Financial risk management and fair value measurement
Financial risk management and fair value measurement	25. Financial risk management and fair value measurement Fair value measurement and hierarchy The fair value measurement of the Company’s financial and non-financial assets and liabilities utilizes market observable inputs and data as far as possible. Inputs used in determining fair value measurements are categorized into different levels based on how observable the inputs used in the valuation technique utilized are (the “fair value hierarchy”): ● Level 1: Quoted prices in active markets for identical items [unadjusted]; ● Level 2: Observable direct or indirect inputs other than Level 1 inputs; and ● Level 3: Unobservable inputs [i.e., not derived from market data]. The classification of an item into the above levels is based on the lowest level of the inputs used that has a significant effect on the fair value measurement of the item. Transfers of items between levels are recognized in the period they occur. The carrying amount of trade and other receivables, advances from related parties and trade and other payables are assumed to approximate their fair value due to their short-term nature. The fair value of financial liabilities is estimated by discounting the remaining contractual maturities at the current market interest rate that is available for similar financial liabilities. Classified as Level 2, the fair value of Debentures was estimated using the partial differential equation model to value convertible debentures that include a call feature. Key assumptions used in the model include volatility, which was based on actual trading data, difference in volatility since initial issuance of the instrument and similar instruments on the market, and credit spread, which was based on corporate bond yield spreads in the market and credit spread data for similar public companies. The model included a fair value adjustment based on an initial calibration exercise. During the three months ended February 28, 2023, the Company recorded an impairment loss on the Debentures based on the estimated recoverable amount of the financial asset [note 8] . The fair value of the derivative liabilities related to the warrants issued is classified as Level 2 in the fair value hierarchy and is calculated using the Black-Scholes Option Pricing Model using the historical volatility of comparable companies as an estimate of future volatility. As at August 31, 2023, the Company used volatility of approximately 75% over the remaining contractual life in order to determine the fair value of the derivative liabilities. As at August 31, 2023, if the volatility used was increased by 10 % the impact would be an increase of $628,000 to the derivative liabilities with corresponding increase in total comprehensive loss. Financial risk management The Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies and processes for managing those risks and the methods used to measure them. [a] Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Company. The Company has a strict code of credit, including obtaining instalment payments, obtaining agency credit information and setting appropriate credit limits. The maximum exposure to credit risk at the reporting date, is the carrying amount of financial assets. The Company does not hold any collateral. Credit risk related with the Debentures is reflected in the fair value of the instrument [note 8] . Trade and other receivables are generally written off when there is no reasonable expectation of recovery. Indicators of this include the failure for a debtor to engage in a repayment plan, no active enforcement activity and a failure to make contractual payments. [b] Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due. The Company is exposed to liquidity risk primarily from its trade and other payables, other financial liabilities and long-term debt. ​ ​ ​ ​ ​ ​ ​ ​ ​ Contractual ​ Less than ​ ​ ​ ​ cash flows ​ one year ​ 1-5 years ​ $ $ $ August 31, 2023 ​ Trade and other payables ​ 550,836 550,836 — Other financial liabilities ​ 113,694 113,694 — Long-term debt ​ 305,329 231,546 73,783 ​ ​ 969,859 896,076 73,783 ​ ​ ​ ​ ​ ​ ​ August 31, 2022 ​ Trade and other payables ​ 1,030,331 1,030,331 — Other financial liabilities ​ 177,834 177,834 — Long-term debt ​ 227,349 72,090 155,259 ​ ​ 1,435,514 1,280,255 155,259 ​ [c] Interest rate risk The Company is exposed to interest rate risk on its variable rate bank indebtedness and variable and fixed rate long-term debt. Fixed-rate borrowings expose the Company to fair value risk while variable rate borrowings expose the Company to cash flow risk. [d] Foreign exchange risk Foreign exchange risk is the risk that future cash flows or fair value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to transactional foreign currency risk to the extent that there is a mismatch between the currencies in which sales, purchases, receivables and borrowings are denominated and the respective functional currencies of the Company and its subsidiaries. The Company has certain financial assets and liabilities denominated in United States dollars. The Canadian dollar equivalent carrying amounts of these assets and liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Cash ​ 3,258,419 5,142,703 Trade and other receivables ​ 188,001 103,116 Trade and other payables ​ 800,149 172,871 ​ Sensitivity A reasonably possible 5% strengthening (weakening) of the U.S. dollar against the Canadian Dollar at the reporting date would have increased (decreased) net loss and other comprehensive loss by the amounts shown below. This analysis assumes that all other variables remain constant. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss Other comprehensive income ​ ​ + 5% -5% ​ + 5% -5% ​ ​ $ ​ $ ​ $ ​ $ August 31, 2023 ​ 24,281 (24,281) 350,586 (350,586) ​

Segment information

Segment information	12 Months Ended
	Aug. 31, 2023
Segment information
Segment information	26. Segment information The Company operates in two reportable business segments. The two reportable business segments offer different products and services, require different processes and are based on how the financial information is produced internally for the purposes of monitoring operating results and making decisions about resource allocation and performance assessment by the Company’s Chief Operating Decision Maker. The following summary describes the operations of each of the Company’s reportable business segments: ● Sale of electric boats – manufacture of customized electric boats for consumer market and sale of boat parts maintenance, and ● Rental of electric boats – short-term rental operation and boat club membership. Sales between segments are accounted for at prices that approximate fair value. No business segments have been aggregated to form the above reportable business segments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended August 31, 2023 ​ ​ Sale of ​ Rental of ​ Inter-segment ​ ​ ​ ​ electric boats ​ electric boats ​ eliminations ​ Total ​ $ $ $ $ Revenue from external customers ​ 1,612,699 4,038,803 — 5,651,502 Revenue from other segments ​ 867,097 336,683 (1,203,780) — Segment revenues ​ 2,479,796 4,375,486 (1,203,780) 5,651,502 Segment gross profit (loss) ​ (242,590) 1,966,466 (187,450) 1,536,426 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment loss before tax ​ (20,363,838) (623,856) (170,367) (21,158,061) Research and development ​ 5,938,010 — (233,098) 5,704,912 Office salaries and benefits ​ 2,769,196 1,237,246 7,739 4,014,181 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended August 31, 2022 ​ ​ Sale of ​ Rental of ​ Inter-segment ​ ​ ​ ​ electric boats ​ electric boats ​ eliminations ​ Total ​ $ $ $ $ Revenue from external customers ​ 2,557,086 4,793,860 — 7,350,946 Revenue from other segments ​ 820,383 80,842 (901,225) — Segment revenues ​ 3,377,469 4,874,702 (901,225) 7,350,946 Segment gross profit (loss) ​ 596,570 2,839,970 (150,975) 3,285,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment (loss) profit before tax ​ (13,632,377) 872,787 (93,852) (12,853,442) Research and development ​ 2,242,794 — — 2,242,794 Office salaries and benefits ​ 2,384,746 951,053 — 3,335,799 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2021 ​ Sale of Rental of Sale of ​ ​ ​ electric boats ​ electric boats ​ electric boats Total ​ ​ $ ​ $ ​ $ ​ $ Revenue from external customers ​ 2,158,240 ​ 1,355,548 ​ — ​ 3,513,788 Revenue from other segments ​ 142,007 ​ 7,476 ​ (149,483) ​ — Segment revenues 2,300,247 1,363,024 (149,483) 3,513,788 Segment gross profit (loss) 640,228 1,003,596 (39,642) 1,604,182 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment (loss) profit before tax Research and development (15,517,319) 541,257 (32,255) (15,008,317) Office salaries and benefits 1,489,953 — — 1,489,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2023 ​ ​ Sale of ​ Rental of ​ Sale of ​ ​ ​ ​ electric boats ​ electric boats ​ electric boats ​ Total ​ $ $ $ $ Segment assets ​ 20,344,002 13,941,898 (10,239,388) 24,046,512 Cash ​ 3,025,565 333,692 — 3,359,257 Additions to property and equipment ​ 194,820 974,533 (185,744) 983,609 Segment liabilities ​ 10,154,031 3,341,868 (1,013,824) 12,482,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2022 ​ ​ Sale of ​ Rental of ​ Sale of ​ ​ ​ ​ electric boats ​ electric boats ​ electric boats ​ Total ​ $ $ $ $ Segment assets ​ 24,499,107 14,039,428 (9,438,326) 29,100,209 Cash ​ 4,146,260 1,678,456 — 5,824,716 Additions to property and equipment ​ 412,158 859,176 (162,446) 1,108,888 Segment liabilities ​ 2,023,368 3,311,128 (262,883) 5,071,613 ​ The Company has disclosed the above amounts for each reportable segment because they are regularly reviewed by the Chief Operating Decision Maker.

Additional cash flows informati

Additional cash flows information	12 Months Ended
	Aug. 31, 2023
Additional cash flows information.
Additional cash flows information	27. Additional cash flows information Financing and investing activities not involving cash: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Advances to related parties converted to shares ​ — — 898,489 Unpaid share subscription ​ — — 39,200 Right-of-use assets transferred to intangibles, net of accumulated depreciation ​ — — 5,981 Additions to right-of-use assets ​ 921,498 234,608 852,467 Lease termination ​ 101,471 273,652 37,033 Shares issued as consideration for the acquisition of intangible assets ​ — — 573,936 Shares issued as consideration for business acquisition ​ — — 3,474,232 Transaction costs for share issuance transferred from prepaid ​ — — 213,019 ​

Commitments

Commitments	12 Months Ended
	Aug. 31, 2023
Commitments
Commitments	28. Commitments In addition to the obligations under leases [note 15] , the Company is subject to supply agreements with minimum spend commitments. The amount of the minimum fixed and determinable portion of the unconditional purchase obligations over the next years, is as follows: ​ ​ ​ ​ ​ $ 2024 ​ 10,943,420 ​ In October 2021, EB Rental Ltd. has entered into lease arrangement for premises, which have not commenced yet and therefore related right-of-use asset and lease liability are not recorded as at August 31, 2023. The lease offers EB Rental Ltd. a termination clause in case certain contractual requirements are not met by the lessor at the lease commencement date. The Company’s undiscounted lease commitments related to this lease are as follows as at August 31, 2023: ​ ​ ​ ​ ​ $ 2024 ​ 67,675 2025 ​ 163,774 2026 ​ 167,049 2027 and thereafter ​ 446,736 ​

Subsequent events

Subsequent events	12 Months Ended
	Aug. 31, 2023
Subsequent events
Subsequent events	29. Subsequent events During the months of September, October and November 2023, the Company issued a total of 103,650 Voting Common Shares to third parties in exchange of sub-contracting services provided to the Company related to marketing and investor relations. On September 20, 2023, the Company issued 372,870 Voting Common Shares and warrants to purchase Voting Common Shares, respectively as part of the financing rounds for a total cash consideration price of $1,695,388 , net of transaction costs of $334,672 . The warrants issued are to purchase 372,870 Voting Common Shares of the Company for a period of three years from the grant date at an exercise price at U.S. $4.05 .

Significant accounting polici_2

Significant accounting policies (Policies)	12 Months Ended
	Aug. 31, 2023
Significant accounting policies
Business combination	Business combination
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash on hand, cash held on trust, deposits held at call with banks, other short term highly liquid investments with original maturities of three months or less.
Trade and other receivables	Trade and other receivables Trade receivables are initially recognized at fair value and subsequently measured at amortized cost using the effective interest method, less any allowance for expected credit losses. Trade receivables are generally due for settlement within 30 days. The Company has applied the simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance. To measure the expected credit loss, trade receivables have been grouped based on days overdue. Other receivables are recognized at amortized cost, less any allowance for expected credit loss.
Inventories	Inventories Inventories are stated at the lower of cost and net realizable value. Raw materials are valued on a first-in first-out basis. Cost of work in progress and finished goods comprises direct materials and delivery costs, direct labour, import duties and other taxes, and appropriate proportion of variable and fixed overhead expenditure based on normal operating capacity. Cost of purchased inventory is determined after deducting rebates and discounts received or receivable. Net realizable value is the estimated selling price in the ordinary course of business less estimated costs of completion and the estimated costs necessary to make the sale.
Grants and investment tax credits	Grants and investment tax credits Government grants are recognized where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. Where retention of a government grant is dependent on the Company satisfying certain criteria, it is initially recognized as deferred income. When the criteria for retention have been satisfied, the deferred income balance is released to the statement of consolidated comprehensive loss or netted against the asset purchased.
Leases	Leases Right-of-use assets The Company recognizes right-of-use assets at the commencement date of the lease [i.e., the date the underlying asset is available for use]. Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Company is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term ranging from two to six years . Right-of-use assets are subject to impairment. Lease liabilities At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments [including in-substance fixed payments] less any lease incentives receivable and variable lease payments that depend on an index or a rate. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. Interest accretion is recorded as interest expense in finance costs. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Short-term leases and leases of low-value assets The Company applies the short-term lease recognition exemption to its short-term leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. It also applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value [i.e., below $5,000]. Lease payments on short-term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term. For the year-ended August 31, 2023, the expense for leases of low-value assets is insignificant.
Property and equipment	Property and equipment Property and equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. Cost includes expenditures that are directly attributable to the acquisition of the asset. Depreciation is recorded to recognize the cost of assets over their useful lives. The estimated useful lives and depreciation methods are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. ​ Asset type Methods Rates Computer equipment Declining balance method 55% Machinery and equipment Declining balance method 20% Rolling stock Declining balance method 30% Leasehold improvements Straight-line method Over the term of the lease Boat rental fleet Straight-line method 15 years Moulds Straight-line method 25 years ​ Any item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an asset is determined as the difference between the sales and proceeds and the carrying amount of the asset and is recognized in profit or loss. Repairs and maintenance costs that do not improve or extend productive life are recognized in profit or loss in the period in which the costs are incurred.
Intangible assets and goodwill	Intangible assets and goodwill Expenditure on research activities is recognized in net earnings as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Otherwise, it is recognized in net earnings as incurred. The Company has not capitalized any development costs. When awarded with government grants and income tax credits, the Company recognizes the income either in net loss, netted with the related expenses, or as a reduction of the cost, when related with capitalized development expenditure. Goodwill arising from business combinations is initially recognized when the fair value of the separately identifiable assets the Company acquired and liabilities the Company assumed is lower than the consideration paid [including the recognized amount of the non-controlling interest, if any]. If the fair value of the consideration transferred is lower than that of the separately identified assets and liabilities, the Company immediately recognizes the difference as a gain in the consolidated statement of comprehensive loss. Other intangible assets, including intellectual property, software, trade name, backlog and website that have finite useful lives are measured at cost less accumulated amortization and accumulated impairment losses. Amortization is calculated over the cost of the asset less its residual value. Amortization is recognized in net earnings on a straight-line basis over the estimated useful lives of intangible assets from the date that they are available for use. The estimated useful lives are as follows: ​ Asset type Methods Rates Intellectual property Straight-line method 10 years Software Straight-line method 7 years Trade name Straight-line method 5 years Backlog Straight-line method 3 years Website Straight-line method 5 years ​ Amortization methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate.
Impairment of non-financial assets	Impairment of non-financial assets Non-financial assets other than goodwill At the end of each reporting period, the Company reviews the carrying amounts of its non-financial assets, other than goodwill, to determine whether there is any indication of impairment. If any such indication exists, the recoverable amount of the asset is estimated. Where it is not possible to estimate the recoverable amount of an individual asset, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets [the “cash-generating unit”, or “CGU”]. Recoverable amount is the greater of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU. If the recoverable amount of an asset or CGU is lower than its carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statement of comprehensive loss. Where an impairment loss subsequently reverses, the carrying amount of the asset or CGU is increased to the revised recoverable amount, to the extent that the carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized. A reversal of an impairment loss is recognized immediately in the consolidated statement of comprehensive loss. Goodwill After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For purposes of impairment testing, goodwill is allocated to each of the Company’s CGU [or groups of CGUs] that is expected to benefit from the synergies of the combination. A CGU to which goodwill has been allocated is tested for impairment annually, or more frequently when there is indication that the CGU may be impaired. If the recoverable amount of the CGU is less than its carrying amount, the impairment loss is allocated first to reduce the goodwill allocated to the CGU and then, to reduce the carrying amounts of the other assets in the CGU on a pro-rata basis. Any impairment loss is recognized in the consolidated statement of comprehensive loss. An impairment loss recognized for goodwill is not reversed in subsequent periods.
Trade and other payables	Trade and other payables These amounts represent liabilities for goods and services provided to the entity prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.
Provisions	Provisions Provisions are recognized when the Company has a present obligation as a result of a past event, it is probable the Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. If the time value of money is material, provisions are discounted using a current pre-tax rate specific to the liability. The increase in the provision resulting from the passage of time is recognized as a finance cost.
Onerous contracts	Onerous contracts An onerous contract is a contract under which the unavoidable costs (i.e., the costs that the Company cannot avoid because it has the contract) of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling a contract comprises the costs that relate directly to the contract (i.e., both incremental costs and an allocation of costs directly related to contract activities). When the Company has a contract that is onerous, the present obligation under the contract is recognized and measured as a provision. However, before a separate provision for an onerous contract is established, the Company recognizes any impairment loss that has occurred on assets used in fulfilling the contract.
Fair value measurement	Fair value measurement When an asset or liability, financial or non-financial, is measured at fair value for recognition or disclosure purposes, the fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; and assumes that the transaction will take place either: in the principal market; or in the absence of a principal market, in the most advantageous market. Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming they act in their economic best interests. For non-financial assets, the fair value measurement is based on its highest and best use. Valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, are used, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Assets and liabilities measured at fair value are classified into three levels, using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Classifications are reviewed at each reporting date and transfers between levels are determined based on a reassessment of the lowest level of input that is significant to the fair value measurement.
Financial instruments	Financial instruments Classification and measurement of financial instruments The Company measures its financial assets and financial liabilities at fair value on initial recognition, which is typically the transaction price unless a financial instrument contains a significant financing component. Subsequent measurement is dependent on the financial instrument’s classification which in the case of financial assets, is determined by the context of the Company’s business model and the contractual cash flow characteristics of the financial asset. Financial assets are classified into two categories: [1] measured at amortized cost and [2] fair value through profit and loss [“FVTPL”]. Financial liabilities are subsequently measured at amortized cost at the effective interest rate, other than financial liabilities that are measured at FVTPL or designated as FVTPL where any change in fair value resulting from an entity’s own credit risk is recorded as other comprehensive income [“OCI”]. The Company assesses the classification of warrants to purchase common shares of the Company, whether the warrants issued meet the criteria of an equity instrument (i.e. the warrants would be settled by the issuance of fixed number of common shares of the Company at a fixed exercise price) or a financial liability. Since the exercise price of these warrants is denominated in U.S. dollars, while the functional currency of the Company is Canadian dollar, the value of the proceeds on exercise of the warrants is not fixed and will vary based on the foreign exchange rate movements. As such, the Company classified the warrants, other than warrants issued as compensation for goods and services, as derivative liabilities, measured at fair value at initial recognition and at each reporting period. Any changes in fair value are recorded as gain or loss in the consolidated statement of comprehensive loss. Refer to note 19 and 25 for details on the warrants issued and outstanding for the year ended August 31, 2023, the derivative liabilities recorded and the assumptions used to determine the fair value. Amortized cost The Company classifies trade and other receivables, other financial assets, trade and other payables, other financial liabilities, long-term debt and advances to/from related parties as financial instruments measured at amortized cost. The contractual cash flows received from the financial assets are solely payments of principal and interest and are held within a business model whose objective is to collect the contractual cash flows. Fair value through profit and loss The Company classifies debentures as financial instruments measured at fair value through profit and loss since the contractual cash flows received from the financial asset are not solely payments of principal and interest. Impairment of financial assets The Company recognizes a loss allowance for expected credit losses on financial assets measured at amortized cost. The measurement of the loss allowance depends upon the Company’s assessment at the end of each reporting period as to whether the financial instrument’s credit risk has increased significantly since initial recognition, based on reasonable and supportable information that is available, without undue cost or effort to obtain. Where there has not been a significant increase in exposure to credit risk, a 12-month expected credit loss allowance is estimated. The amount of expected credit loss recognized is measured on the basis of the probability weighted present value of anticipated cash shortfalls over the life of the instrument discounted at the original effective interest rate. Impairment provisions for current and non-current trade receivables are recognized based on the simplified approach within IFRS 9 using a provision matrix in the determination of the lifetime expected credit losses. Equity instruments Financial instruments issued by the Company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset. An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issuance costs. The Company’s shares are classified as equity instruments.
Revenue recognition	Revenue recognition Revenue is recognized at an amount that reflects the consideration to which the Company is expected to be entitled in exchange for transferring goods or services to a customer. For each contract with a customer, the Company: ● identifies the contract with the customer; ● identifies the performance obligations in the contract; ● determines the transaction price which takes into account estimates of variable consideration and the time value of money; ● allocates the transaction price to separate performance obligations on the basis of relative stand-alone selling price of each distinct good or service to be delivered; and, ● recognizes revenue when or as each performance obligation is satisfied in a manner that depicts the transfer to the customer of the goods or services promised. The Company enters into contracts with customers, as well as distributor agreements with specific distributors for the sale of boats. Sale of boats Revenue from the sale of boats, including incidental shipping fees, is recognized at the point in time when the customer obtains control of the goods, which is generally at the shipping point. In the context of its distributor agreements, control is passed at the shipping point to the distributor as the Company has no further performance obligations at that point. The Company concluded that it is the principal in its revenue arrangements, because it typically controls the boats before transferring them to the customer. The amount of consideration the Company receives, and the revenue recognized varies with volume rebate programs offered to distributors. When the Company offers retrospective volume rebates, it estimates the expected volume rebates based on an analysis of historical experience, to the extent that it is highly probable that a significant reversal will not occur. The Company adjusts its estimate of revenue related to volume rebates at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. The Company recognizes customer deposits on the sale of boats as contract liabilities. Boat rental and boat club membership revenue Revenue from boat rentals is recognized at a point in time when the services are completed given the short term rental period. Boat club membership revenue is recognized over time as the service is provided. These services are typically provided, and thus revenue is typically recognized, on a monthly basis. The Company recognizes customer prepayments on boat rentals and boat club memberships as contract liabilities. Sale of parts and boat maintenance Revenue from the sale of parts and related maintenance services are recognized at the point in time when the customer obtains control of the parts and when services are completed. Other Other revenue is recognized when it is received or when the right to receive payment is established. Contract liabilities A contract liability is recognized if a payment is received, or a payment is due [whichever is earlier] from a customer before the Company transfers the related goods or services. Contract liabilities are recognized as revenue when the Company performs under the contract [i.e., transfers control of the related goods or services to the customer].
Share-based payments	Share-based payments The Company has a share option plan for key employees, consultants, advisors, officers and directors from which options to purchase common stock of the Company are issued. The Company also issues warrants to non-employees granting the right to purchase common stock of the Company at a determined exercise price . Share-based compensation costs are accounted for on a fair value basis, as measured at the grant date, using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. An individual is classified as an employee when the individual is an employee for legal or tax purposes or provides services similar to those performed by an employee. In situations where options or warrants have been issued to non-employees and some or all of the services received by the Company can be specifically identified, the options or warrants are measured at the fair value of the services received. If the services cannot be specifically identified, the options or warrants are measured at the fair value of the options issued. All share-based remuneration is ultimately recognized as an expense in profit or loss with a corresponding credit to contributed surplus. If vesting periods or other vesting conditions apply, the expense is allocated over the vesting period, based on the best available estimate of the number of share options expected to vest. Any adjustment to cumulative share-based compensation resulting from a revision is recognized in the current period. The number of vested options ultimately exercised by holders does not impact the expense recorded in any period.
Foreign currency translation	Foreign currency translation The Company’s consolidated financial statements are presented in Canadian dollars, which is also the parent company’s functional currency. The functional currencies of 7858078 Canada Inc. and EB Rental Ltd. are the Canadian dollar and the US dollar, respectively. The Company and its subsidiaries each determine their functional currency based on the currency of the primary economic environment in which they operate. Transactions denominated in a currency other than the functional currency of an entity are translated at the exchange rate in effect on the transaction date. The resulting exchange gains and losses are included in each entity’s net loss in the period in which they arise. The Company’s foreign operations are translated to the Company’s presentation currency, for inclusion in the consolidated financial statements. Foreign-denominated monetary and non-monetary assets and liabilities of foreign operations are translated at exchange rates in effect at the end of the reporting period and revenue and expenses are translated at exchange rates in effect at the transaction date. The resulting translation gains and losses are included in other comprehensive income with the cumulative gain or loss reported in accumulated other comprehensive income. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is reclassified to profit or loss. The exchange rates for the currencies used in the preparation of the consolidated financial statements were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchange rate as at ​ Average exchange rate for year ended ​ August 31, August 31, August 31, August 31, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 US dollar 1.3535 1.3076 1.3465 1.2717
Taxes	Taxes Tax expense comprises current and deferred tax. Tax is recognized in net loss except to the extent it relates to items recognized in other comprehensive income or directly in equity. Current tax Current tax expense is based on the results for the period as adjusted for items that are not taxable or not deductible. Current tax is calculated using tax rates and laws that were enacted or substantively enacted at the end of the reporting period. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. Deferred tax Deferred taxes are the taxes expected to be payable or recoverable on differences between the carrying amounts of assets in the statement of financial position and their corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognized for all taxable temporary differences between the carrying amounts of assets and their corresponding tax bases. Deferred tax assets are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized. Such assets and liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill or from the initial recognition [other than in a business combination] of other assets in a transaction that affects neither the taxable profit nor the accounting profit. The Company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
Earnings per share	Earnings per share Basic earnings per share is calculated by dividing the profit or loss attributable to equity holders of the Company by the weighted average number of common stock outstanding during the year. Diluted income per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of common stock outstanding, adjusted for the effects of all dilutive potential common stock. For the purpose of calculating diluted earnings per share, the Company assumes the exercise of dilutive options and warrants of the entity. The assumed proceeds from these instruments are regarded as having been received from the issue of common stock at the average market price of common shares during the period. The difference between the number of common shares issued and the number of common shares that would have been issued at the average market price of common shares during the period is treated as an issue of common shares for no consideration.
New and amended standards and interpretations	New and amended standards and interpretations The Company applied certain amendments to the accounting standards, which are effective for annual periods beginning on or after 1 January 2023. The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments were effective for annual reporting periods beginning on or after January 1, 2022. The amendments did not have a material impact on the Company’s consolidated financial statements. Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 Property, plant and equipment The amendment prohibits entities from deducting from the cost of an item of property, plant and equipment, any proceeds of the sale of items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The amendments are not expected to have a material impact on the Company’s consolidated financial statements.
Standards issued but yet not effective	Standards issued but yet not effective The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s financial statements are disclosed below. The Company intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Definition of Accounting Estimates - Amendments to IAS 8 The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and the correction of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. The amendments are not expected to have a material impact on the Company’s consolidated financial statements. Disclosure of Accounting Policies - Amendments to IAS 1 and IFRS Practice Statement 2 The amendments to IAS 1 and IFRS Practice Statement 2 Making Materiality Judgements provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a requirement to disclose their ‘material’ accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments are not expected to have a material impact on the disclosures in the Company’s consolidated financial statements. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 The amendments to IAS 12 Income Tax narrow the scope of the initial recognition exception, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences such as leases and decommissioning liabilities. The amendments are not expected to have a material impact on the Company’s consolidated financial statements. Amendments to IFRS 16: Lease Liability in a Sale and Leaseback In September 2022, the IASB issued amendments to IFRS 16, Leases, to specify the requirements that a seller- lessee uses in measuring the lease liability arising in a sale and leaseback transaction, to ensure the seller-lessee does not recognize any amount of the gain or loss that relates to the right of use it retains. The amendments are effective for annual reporting periods beginning on or after 1 January 2024 and must applied retrospectively to sale and leaseback transactions entered into after the date of initial application of IFRS 16. The amendments are not expected to have a material impact on the Company’s consolidated financial statements. Amendments to IAS 1: Classification of Liabilities as Current or Non-current In January 2020 and October 2022, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: ● What is meant by a right to defer settlement ● That a right to defer must exist at the end of the reporting period ● That classification is unaffected by the likelihood that an entity will exercise its deferral right ● That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification In addition, a requirement has been introduced to require disclosure when a liability arising from a loan agreement is classified as non-current and the entity’s right to defer settlement is contingent on compliance with future covenants within twelve months. The amendments are effective for annual reporting periods beginning on or after 1 January 2024 and must be applied retrospectively. The amendments are not expected to have a material impact on the Company’s consolidated financial statements.

Basis of preparation (Tables)

Basis of preparation (Tables)	12 Months Ended
	Aug. 31, 2023
Basis of preparation
Schedule of significant subsidiaries	​ Name of subsidiary Principal activity Country of incorporation and operation Proportion of ownership held by the Company 7858078 Canada Inc. ​ Owns an electric boat rental center ​ Canada ​ 100% EB Rental Ltd. ​ Operates an electric boat rental center ​ United States ​ 100% EB Rental Ventura Corp. ​ Operates an electric boat rental center ​ United States ​ 100% Vision Marine Technologies Corp. ​ Operates an electric boat service center ​ United States ​ 100%

Significant accounting polici_3

Significant accounting policies (Tables)	12 Months Ended
	Aug. 31, 2023
Significant accounting policies
Summary of estimated useful lives and depreciation methods	​ Asset type Methods Rates Computer equipment Declining balance method 55% Machinery and equipment Declining balance method 20% Rolling stock Declining balance method 30% Leasehold improvements Straight-line method Over the term of the lease Boat rental fleet Straight-line method 15 years Moulds Straight-line method 25 years
Schedule of estimated useful lives of intangible assets	​ Asset type Methods Rates Intellectual property Straight-line method 10 years Software Straight-line method 7 years Trade name Straight-line method 5 years Backlog Straight-line method 3 years Website Straight-line method 5 years
Schedule of exchange rates for the currencies used in the preparation of the consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exchange rate as at ​ Average exchange rate for year ended ​ August 31, August 31, August 31, August 31, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 US dollar 1.3535 1.3076 1.3465 1.2717

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Aug. 31, 2023
Trade and other receivables
Schedule of trade and other receivables	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Trade receivables ​ 59,364 108,716 Sales taxes receivable ​ 159,114 194,523 Other receivables ​ 332,358 169,309 ​ ​ 550,836 472,548
Schedule of aging analysis of receivables	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ 0 – 30 ​ 13,986 77,625 31 – 60 ​ — — 61 – 90 ​ — 14,212 91 and over ​ 45,378 16,879 ​ ​ 59,364 108,716

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Aug. 31, 2023
Inventories
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ $ $ Raw materials ​ 1,553,501 1,709,368 Work-in-process ​ 369,753 75,170 Finished goods ​ 522,300 309,238 ​ ​ 2,445,554 2,093,776

Right-of-use assets (Tables)

Right-of-use assets (Tables)	12 Months Ended
	Aug. 31, 2023
Right-of-use assets
Schedule of right-of-use assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Computer ​ ​ ​ Boat rental ​ ​ ​ ​ Premises ​ equipment ​ Rolling stock ​ fleet ​ Total ​ $ $ $ $ $ Cost ​ Balance at August 31, 2021 ​ 2,746,118 3,646 202,536 326,868 3,279,168 Additions ​ 93,565 — 141,043 — 234,608 Disposals ​ — — (255,953) (115,409) (371,362) Currency translation ​ 40,356 — 394 — 40,750 Balance at August 31, 2022 ​ 2,880,039 3,646 88,020 211,459 3,183,164 Additions ​ 921,498 — — — 921,498 Disposals ​ — — (46,200) (170,298) (216,498) Transferred to Property and equipment ​ — ​ (3,646) ​ — ​ (41,161) ​ (44,807) Currency translation ​ 38,255 — 2,099 — 40,354 Balance at August 31, 2023 ​ 3,839,792 — 43,919 — 3,883,711 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 334,357 576 14,949 24,087 373,969 Depreciation ​ 488,050 2,302 71,488 89,617 651,457 Disposal ​ — — (66,122) (37,240) (103,362) Balance at August 31, 2022 ​ 822,407 2,878 20,315 76,464 922,064 Depreciation ​ 615,937 768 23,934 21,442 662,081 Disposal ​ — (3,646) (13,475) (97,906) (115,027) Balance at August 31, 2023 ​ 1,438,344 ​ — ​ 30,774 ​ — ​ 1,469,118 Net carrying amount ​ As at August 31, 2022 ​ 2,057,632 768 67,705 134,995 2,261,100 As at August 31, 2023 ​ 2,401,448 — 13,145 — 2,414,593

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Aug. 31, 2023
Property and equipment.
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Machinery ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Rolling ​ Computer ​ ​ ​ Leasehold ​ Boat ​ ​ ​ equipment ​ stock ​ equipment ​ Moulds ​ improvements ​ rental fleet ​ Total ​ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ Cost ​ Balance at August 31, 2021 ​ 302,938 32,175 14,647 691,005 131,233 513,317 1,685,315 Additions ​ 30,146 197,739 11,284 220,919 133,123 582,720 1,175,931 Disposals ​ — (111,215) (4,899) — — (154,714) (270,828) Currency translation ​ — (35) — — — 30,154 30,119 Balance at August 31, 2022 ​ 333,084 118,664 21,032 911,924 264,356 971,477 2,620,537 Additions ​ 62,409 69,029 565 30,501 97,699 678,599 938,802 Transferred from Right-of-use assets ​ — ​ — ​ 3,646 ​ — ​ — ​ 41,161 ​ 44,807 Disposals ​ — (136,072) — — — (499,770) (635,842) Currency translation ​ — (2,347) — — — (70,115) (72,462) Balance at August 31, 2023 ​ 395,493 49,274 25,243 942,425 362,055 1,121,352 2,895,842 ​ ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 167,604 24,362 8,398 50,420 11,579 8,443 270,806 Depreciation ​ 30,200 23,938 5,079 22,608 32,926 43,196 157,947 Disposal ​ — (18,301) (674) — — (8,223) (27,198) Balance at August 31, 2022 ​ 197,804 29,999 12,803 73,028 44,505 43,416 401,555 Depreciation ​ 31,495 25,875 4,485 37,696 69,332 72,163 241,046 Disposal ​ — (21,864) — — — (38,821) (60,685) Balance at August 31, 2023 ​ 229,299 34,010 17,288 110,724 113,837 76,758 581,916 ​ ​ Net carrying amount ​ As at August 31, 2022 ​ 135,280 88,665 8,229 838,896 219,851 928,061 2,218,982 As at August 31, 2023 ​ 166,194 15,264 7,955 831,701 248,218 1,044,594 2,313,926

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Aug. 31, 2023
Intangible assets
Summary of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Intellectual ​ Trade ​ ​ ​ ​ ​ property ​ Software ​ name ​ Backlog ​ Website ​ Total ​ ​ $ ​ $ ​ $ ​ $ ​ $ ​ $ Cost ​ Balance at August 31, 2021 ​ 1,035,070 73,573 93,856 79,220 18,771 1,300,490 Additions ​ — 28,202 4,000 — — 32,202 Currency translation ​ — — 438 330 87 855 Balance at August 31, 2022 ​ 1,035,070 101,775 98,294 79,550 18,858 1,333,547 Additions ​ ​ ​ ​ ​ ​ ​ Currency translation ​ — — 6,057 4,556 1,211 11,824 Balance at August 31, 2023 ​ 1,035,070 101,775 104,351 84,106 20,069 1,345,371 ​ ​ Accumulated depreciation ​ Balance at August 31, 2021 ​ 55,581 7,107 4,633 6,520 927 74,768 Depreciation ​ 103,508 17,593 9,806 13,310 1,892 146,109 Balance at August 31, 2022 ​ 159,089 24,700 14,439 19,830 2,819 220,877 Depreciation ​ 103,508 12,920 20,426 16,911 4,005 157,770 Balance at August 31, 2023 ​ 262,597 37,620 34,865 36,741 6,824 378,647 ​ ​ Net carrying amount ​ As at August 31, 2022 ​ 875,981 77,075 83,855 59,720 16,039 1,112,670 As at August 31, 2023 ​ 772,473 64,155 69,486 47,365 13,245 966,724

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Aug. 31, 2023
Trade and other payables.
Schedule of trade and other payables	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Trade payables ​ 1,107,310 737,946 Sales taxes payable ​ 62,398 21,547 Government remittances ​ — 9,450 Salaries, vacation and other employee benefits payables ​ 585,192 261,388 ​ ​ 1,754,900 1,030,331 ​

Contract liabilities (Tables)

Contract liabilities (Tables)	12 Months Ended
	Aug. 31, 2023
Contract liabilities
Schedule of contract liabilities	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ 1,029,318 898,713 Payments received in advance ​ 3,330,235 2,502,080 Boat sale deposits ​ 151,572 87,609 Payments reimbursed ​ (8,131) (2,615) Transferred to revenues ​ (2,718,943) (2,475,307) Currency translation ​ 31,680 18,838 Closing balance ​ 1,815,731 1,029,318 ​

Lease liabilities (Tables)

Lease liabilities (Tables)	12 Months Ended
	Aug. 31, 2023
Lease liabilities
Summary of lease liabilities	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ 2,415,549 2,966,816 Additions ​ 921,498 234,608 Repayment ​ (726,893) (695,749) Interest on lease liability ​ 139,132 141,994 Lease termination ​ (151,800) (273,652) Currency translation ​ 44,308 41,532 Closing balance ​ 2,641,794 2,415,549 ​ ​ Current ​ 647,638 561,168 Non-current ​ 1,994,156 1,854,381 ​ ​ 2,641,794 2,415,549
Future undiscounted lease payments	Future undiscounted lease payments as at August 31, 2023 are as follows: ​ ​ ​ ​ $ Less than one year 775,991 One to five years 2,221,910 ​ 2,997,901

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Aug. 31, 2023
Long-term debt.
Summary of long term debt	​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ $ $ The government assistance loan is non-interest bearing until December 31, 2022 at which time the loan bears interest at 5% per annum. The loan must be repaid by December 31, 2025. 40,000 39,342 ​ ​ Term loans, bearing interest at rates varying between 9.44% and 10.71% , repayable in monthly instalments of $23,337 , ending January 2025. 265,329 188,007 ​ ​ 305,329 227,349 Current portion of long-term debt 271,546 72,090 ​ 33,783 155,259 ​

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Aug. 31, 2023
Related party transactions
Summarizes the related party transactions and the amounts due to and from related parties	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Revenues ​ Sales of boats ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 84,149 Patrick Bobby ​ — — — Sale of parts and boat maintenance ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 40,310 ​ ​ Expenses ​ Cost of sales ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 11,444 ​ ​ Research and Development ​ 9335-1427 Quebec Inc. ​ — — 75,020 Mac Engineering, SASU ​ 545,892 666,178 176,500 ​ ​ Travel and entertainment ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 8,926 ​ ​ Advertising and promotion ​ EB Rental Ltd. [prior to June 3, 2021] ​ — — 11,245 ​ ​ Office salaries and benefits ​ Montana Strategies Inc. ​ 29,059 62,462 — ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Wages ​ 2,447,827 2,324,770 1,299,402 Share-based payments – capital stock ​ 433,263 — — Share-based payments – stock options ​ 382,196 2,560,031 6,081,900 ​ ​ 3,263,286 4,884,801 7,381,302 ​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Share subscription receivable ​ 9335-1427 Quebec Inc. ​ 25,000 25,000 Alexandre Mongeon ​ 14,200 14,200 ​ ​ 39,200 39,200 ​ ​ Current advances to related party ​ Alexandre Mongeon ​ 20,135 16,736 ​ ​ Amounts due to related parties included in trade and other payable ​ Alexandre Mongeon ​ 19,384 16,000 Patrick Bobby ​ 13,847 12,308 Kulwant Sandher ​ 8,654 8,062 Xavier Montagne ​ 10,454 8,292 Mac Engineering, SASU ​ 9,935 — ​ ​ 62,274 44,662 ​

Capital stock (Tables)

Capital stock (Tables)	12 Months Ended
	Aug. 31, 2023
Capital stock.
Summary of issued capital	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ 11,171,800 voting common shares [2022 – 8,471,923 ] ​ 50,395,717 43,441,591
Summary of the derivative liabilities related to the warrants	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Opening balance ​ — ​ — Additions 7,614,510 — Change in estimate (2,055,688) — Closing balance 5,558,822 — ​

Share-based payments (Tables)

Share-based payments (Tables)	12 Months Ended
	Aug. 31, 2023
Share-based payments
Summary of share based payments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exercise ​ Market ​ Expected Risk-free Expected Grant date ​ price ​ price ​ volatility ​ interest rate ​ life ​ $ $ % % [years] May 27, 2020 ​ 3.70 3.70 ​ 84 ​ 0.4 ​ 5 May 27, 2020 ​ 2.78 3.70 ​ 84 ​ 0.4 ​ 5 October 23, 2020 ​ 3.70 3.70 ​ 97 ​ 0.4 ​ 5 November 24, 2020 ​ 16.29 13.03 ​ 101 ​ 0.4 ​ 5 November 24, 2020 ​ 5.68 ​ 5.72 ​ 75 ​ 3.6 ​ 4 February 23, 2021 ​ 15.75 15.05 ​ 103 ​ 0.6 ​ 5 May 14, 2021 ​ 5.68 5.72 ​ 75 ​ 3.6 ​ 3 July 14, 2021 ​ 9.25 9.01 ​ 105 ​ 0.7 ​ 5 September 21, 2021 ​ 8.85 8.58 ​ 106 ​ 0.9 ​ 5 January 22, 2022 ​ 5.65 ​ 5.52 ​ 107 ​ 1.5 ​ 5 November 30, 2022 ​ 6.09 ​ 6.09 ​ 107 ​ 3.1 ​ 5 December 1, 2022 ​ 5.83 ​ 5.83 ​ 107 ​ 3.0 ​ 5 March 22, 2023 ​ 5.76 ​ 5.14 ​ 75 ​ 3.6 ​ 2 March 25, 2023 ​ 5.77 ​ 5.23 ​ 75 ​ 3.6 ​ 3 March 25, 2023 ​ 5.77 ​ 5.23 ​ 75 ​ 3.6 ​ 4 April 20, 2023 ​ 5.79 5.27 ​ 75 ​ 3.6 ​ 5
Summary of number options granted outstanding	​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number of ​ average ​ ​ options ​ exercise price ​ ​ # ​ $ Balance at August 31, 2021 1,659,121 ​ 9.95 Granted 152,500 ​ 6.70 Forfeited (102,500) ​ 13.59 Exercised ​ (2,703) ​ 3.70 Balance at August 31, 2022 1,706,418 ​ 9.45 Granted 88,500 ​ 5.80 Forfeited (268,158) ​ 9.65 Stock options modifications ​ (370,000) ​ 5.78 Exercised (57,219) ​ 2.86 Balance at August 31, 2023 1,099,541 ​ 5.22
Summary of range of number of options outstanding and weighted average remaining contractual life	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Weighted average ​ Weighted average ​ ​ Exercise price ​ options ​ grant date ​ remaining ​ Exercisable range ​ outstanding ​ fair value ​ contractual life ​ options $ # $ [years] # 2.78 – 3.70 ​ 454,041 ​ 2.48 ​ 2.13 497,869 5.65 – 5.83 ​ 580,500 ​ 2.94 ​ 4.51 498,300 6.09 – 8.85 ​ 30,000 ​ 6.26 ​ 7.83 25,000 16.29 ​ 35,000 ​ 9.33 ​ 7.50 35,000
Schedule of warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk-free ​ Exercise Market Expected ​ interest Expected ​ ​ price ​ price ​ volatility ​ rate ​ life Grant or Issuance date ​ $ ​ $ ​ % ​ % ​ [years] August 5, 2022 ​ 10.30 ​ 7.20 ​ 100 ​ 2.9 ​ 3 January 19, 2023 ​ 5.63 ​ 5.63 ​ 100 ​ 3.4 ​ 3 February 17, 2023 5.67 6.05 100 4.0 3 April 19, 2023 5.64 5.55 75 3.9 3 June 16, 2023 5.35 5.50 75 4.1 3 August 2, 2023 5.37 5.10 75 4.8 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of Weighted average ​ ​ ​ ​ warrants ​ remaining ​ Exercise price ​ outstanding ​ contractual life Grant or Issuance date ​ $ ​ # ​ [years] November 23, 2020 ​ 16.53 ​ 151,800 ​ 2.23 August 5, 2022 ​ 10.30 ​ 50,000 ​ 1.93 January 19, 2023 5.63 554,253 2.39 February 17, 2023 5.67 475,059 2.47 April 19, 2023 5.64 381,293 2.64 June 16, 2023 5.35 493,828 2.79 August 2, 2023 5.37 493,832 2.92 ​

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Aug. 31, 2023
Revenues
Summary of revenues by product type and geographical distribution of revenues from external customers	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Sales of boats ​ 1,287,979 2,459,365 2,080,110 Sales of parts and boat maintenance ​ 324,720 97,721 75,205 Boat rental and boat club membership revenue ​ 4,038,803 4,793,860 1,355,548 Other ​ — — 2,925 ​ ​ 5,651,502 7,350,946 3,513,788 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sale of ​ Rental of ​ 2023 ​ ​ electric boats ​ electric boats ​ Total ​ $ $ $ Canada ​ 348,570 ​ — ​ 348,570 USA ​ 1,078,124 ​ 4,038,803 ​ 5,116,927 Other ​ 186,005 ​ — ​ 186,005 ​ ​ 1,612,699 ​ 4,038,803 ​ 5,651,502 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 2021 ​ Sale of Rental of ​ ​ ​ ​ ​ ​ electric boats ​ electric boats ​ Total ​ Total ​ $ $ $ $ Canada ​ 557,639 ​ — ​ 557,639 ​ 571,216 USA ​ 1,292,666 ​ 4,793,861 ​ 6,086,527 ​ 2,692,599 Other ​ 706,780 ​ — ​ 706,780 ​ 249,973 ​ ​ 2,557,085 ​ 4,793,861 ​ 7,350,946 ​ 3,513,788 ​

Net finance expense (income) (T

Net finance expense (income) (Tables)	12 Months Ended
	Aug. 31, 2023
Net finance expense (income)
Net finance expense	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Interest and bank charges ​ 142,117 184,895 123,100 Interest income ​ (113,334) (379,288) — Foreign currency exchange (gain) loss ​ (208,132) (251,947) 1,583,292 Transaction costs ​ 719,167 ​ — ​ — Gain on derivative liabilities ​ (2,055,688) ​ — ​ — Loss (gain) on Debentures [note 8] ​ (88,666) 670,000 550,000 ​ ​ (1,604,536) 223,660 2,256,392 ​

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Aug. 31, 2023
Income taxes
Disclosure of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Income taxes at the applicable tax rate of 26.5% [2022 – 26.5% ; 2021 – 26.5% ] ​ (5,606,886) (3,406,162) (3,977,204) Change in tax status following the initial public offering ​ — — (127,979) Adjustment in respect of current and deferred income tax of previous year ​ (72,894) (4,396) (207,601) Permanent differences ​ 70,418 823,119 2,100,615 Change in recognition of deferred income tax assets ​ 5,328,487 2,816,417 2,317,759 Other ​ — 29,365 — Total income tax expense (recovery) ​ (280,875) 258,343 105,590
Disclosure of temporary differences	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as at ​ Recognized ​ ​ ​ ​ ​ Balance as at ​ ​ August 31, ​ in net ​ Recognized ​ ​ ​ August 31, ​ ​ 2022 ​ loss ​ in equity ​ Other ​ 2023 ​ $ $ $ $ $ Temporary differences ​ ​ ​ ​ ​ Property and equipment ​ (155,298) ​ (20,228) ​ — ​ (8,650) ​ (184,176) Intangibles ​ (294,385) ​ 39,009 ​ — ​ 98 ​ (255,278) Net operating losses ​ 4,790,012 ​ 4,564,752 ​ — ​ — ​ 9,354,764 Financing fees ​ 705,594 ​ (107,450) ​ 134,225 ​ — ​ 732,369 Research and development ​ 430,835 ​ 557,162 ​ — ​ — ​ 987,997 Difference in timing of recognition ​ 259,118 ​ 493,379 ​ — ​ 3,403 ​ 755,900 Right-of-use asset ​ (616,907) ​ 19,531 ​ — ​ (6,613) ​ (603,989) Lease liability ​ 658,847 ​ (7,400) ​ — ​ 12,861 ​ 664,308 Net capital losses ​ 50,418 ​ — ​ — ​ — ​ 50,418 Unrecognized deferred tax assets ​ (6,016,278) ​ (5,328,487) ​ (134,225) ​ — ​ (11,478,990) Deferred tax liability ​ (188,044) ​ 210,268 ​ — ​ 1,099 ​ 23,323

Financial risk management and_2

Financial risk management and fair value measurement (Tables)	12 Months Ended
	Aug. 31, 2023
Financial risk management and fair value measurement
Summary of maturity analysis for financial instruments, liquidity risk	​ ​ ​ ​ ​ ​ ​ ​ ​ Contractual ​ Less than ​ ​ ​ ​ cash flows ​ one year ​ 1-5 years ​ $ $ $ August 31, 2023 ​ Trade and other payables ​ 550,836 550,836 — Other financial liabilities ​ 113,694 113,694 — Long-term debt ​ 305,329 231,546 73,783 ​ ​ 969,859 896,076 73,783 ​ ​ ​ ​ ​ ​ ​ August 31, 2022 ​ Trade and other payables ​ 1,030,331 1,030,331 — Other financial liabilities ​ 177,834 177,834 — Long-term debt ​ 227,349 72,090 155,259 ​ ​ 1,435,514 1,280,255 155,259
Summary of foreign exchange risk	​ ​ ​ ​ ​ ​ ​ 2023 2022 ​ ​ $ ​ $ Cash ​ 3,258,419 5,142,703 Trade and other receivables ​ 188,001 103,116 Trade and other payables ​ 800,149 172,871
Summary of reasonably possible 1% strengthening (weakening) of the U.S. dollar against the Canadian Dollar at the reporting date would have increased (decreased) net income (loss) and other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss Other comprehensive income ​ ​ + 5% -5% ​ + 5% -5% ​ ​ $ ​ $ ​ $ ​ $ August 31, 2023 ​ 24,281 (24,281) 350,586 (350,586) ​

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Aug. 31, 2023
Segment information
Summary of reportable business segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended August 31, 2023 ​ ​ Sale of ​ Rental of ​ Inter-segment ​ ​ ​ ​ electric boats ​ electric boats ​ eliminations ​ Total ​ $ $ $ $ Revenue from external customers ​ 1,612,699 4,038,803 — 5,651,502 Revenue from other segments ​ 867,097 336,683 (1,203,780) — Segment revenues ​ 2,479,796 4,375,486 (1,203,780) 5,651,502 Segment gross profit (loss) ​ (242,590) 1,966,466 (187,450) 1,536,426 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment loss before tax ​ (20,363,838) (623,856) (170,367) (21,158,061) Research and development ​ 5,938,010 — (233,098) 5,704,912 Office salaries and benefits ​ 2,769,196 1,237,246 7,739 4,014,181 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended August 31, 2022 ​ ​ Sale of ​ Rental of ​ Inter-segment ​ ​ ​ ​ electric boats ​ electric boats ​ eliminations ​ Total ​ $ $ $ $ Revenue from external customers ​ 2,557,086 4,793,860 — 7,350,946 Revenue from other segments ​ 820,383 80,842 (901,225) — Segment revenues ​ 3,377,469 4,874,702 (901,225) 7,350,946 Segment gross profit (loss) ​ 596,570 2,839,970 (150,975) 3,285,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment (loss) profit before tax ​ (13,632,377) 872,787 (93,852) (12,853,442) Research and development ​ 2,242,794 — — 2,242,794 Office salaries and benefits ​ 2,384,746 951,053 — 3,335,799 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2021 ​ Sale of Rental of Sale of ​ ​ ​ electric boats ​ electric boats ​ electric boats Total ​ ​ $ ​ $ ​ $ ​ $ Revenue from external customers ​ 2,158,240 ​ 1,355,548 ​ — ​ 3,513,788 Revenue from other segments ​ 142,007 ​ 7,476 ​ (149,483) ​ — Segment revenues 2,300,247 1,363,024 (149,483) 3,513,788 Segment gross profit (loss) 640,228 1,003,596 (39,642) 1,604,182 ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment (loss) profit before tax Research and development (15,517,319) 541,257 (32,255) (15,008,317) Office salaries and benefits 1,489,953 — — 1,489,953 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2023 ​ ​ Sale of ​ Rental of ​ Sale of ​ ​ ​ ​ electric boats ​ electric boats ​ electric boats ​ Total ​ $ $ $ $ Segment assets ​ 20,344,002 13,941,898 (10,239,388) 24,046,512 Cash ​ 3,025,565 333,692 — 3,359,257 Additions to property and equipment ​ 194,820 974,533 (185,744) 983,609 Segment liabilities ​ 10,154,031 3,341,868 (1,013,824) 12,482,075 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ August 31, 2022 ​ ​ Sale of ​ Rental of ​ Sale of ​ ​ ​ ​ electric boats ​ electric boats ​ electric boats ​ Total ​ $ $ $ $ Segment assets ​ 24,499,107 14,039,428 (9,438,326) 29,100,209 Cash ​ 4,146,260 1,678,456 — 5,824,716 Additions to property and equipment ​ 412,158 859,176 (162,446) 1,108,888 Segment liabilities ​ 2,023,368 3,311,128 (262,883) 5,071,613

Additional cash flows informa_2

Additional cash flows information (Tables)	12 Months Ended
	Aug. 31, 2023
Additional cash flows information.
Summary of financing and investing activities not involving cash	​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 2022 2021 ​ ​ $ ​ $ ​ $ Advances to related parties converted to shares ​ — — 898,489 Unpaid share subscription ​ — — 39,200 Right-of-use assets transferred to intangibles, net of accumulated depreciation ​ — — 5,981 Additions to right-of-use assets ​ 921,498 234,608 852,467 Lease termination ​ 101,471 273,652 37,033 Shares issued as consideration for the acquisition of intangible assets ​ — — 573,936 Shares issued as consideration for business acquisition ​ — — 3,474,232 Transaction costs for share issuance transferred from prepaid ​ — — 213,019 ​

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Aug. 31, 2023
Commitments
Summary of amount of the minimum fixed and determinable portion of the unconditional purchase obligations over the next years	​ ​ ​ ​ ​ $ 2024 ​ 10,943,420
Summary of undiscounted lease commitments	​ ​ ​ ​ ​ $ 2024 ​ 67,675 2025 ​ 163,774 2026 ​ 167,049 2027 and thereafter ​ 446,736 ​

Basis of preparation (Details)

Basis of preparation (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2021	Aug. 31, 2022
Disclosure of subsidiaries [line items]
Cash	$ 3,359,257		$ 5,824,716
Working capital	3,676,936
Deficit	(51,548,737)		$ (30,671,552)
Issuance of shares and warrants, net of transaction costs paid	$ 12,437,523	$ 2,025,000
7858078 Canada Inc.
Disclosure of subsidiaries [line items]
Proportion of ownership held by the Company	100%
EB Rental Ltd.
Disclosure of subsidiaries [line items]
Proportion of ownership held by the Company	100%
EB Rental Ventura Corp.
Disclosure of subsidiaries [line items]
Proportion of ownership held by the Company	100%
Vision Marine Technologies Corp.
Disclosure of subsidiaries [line items]
Proportion of ownership held by the Company	100%

Significant accounting polici_4

Significant accounting policies - Property and equipment (Details)	12 Months Ended
	Aug. 31, 2023
Computer equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate	55%
Machinery and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate	20%
Rolling stock
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate	30%
Boat rental fleet
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives of property, plant and equipment	15 years
Moulds
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful lives of property, plant and equipment	25 years

Significant account policies -

Significant account policies - Amortization methods, useful lives and residual values (Details)	12 Months Ended
	Aug. 31, 2023
Intellectual property
Disclosure of detailed information about intangible assets
Estimated useful lives of intangible assets	10 years
Software
Disclosure of detailed information about intangible assets
Estimated useful lives of intangible assets	7 years
Trade name
Disclosure of detailed information about intangible assets
Estimated useful lives of intangible assets	5 years
Backlog
Disclosure of detailed information about intangible assets
Estimated useful lives of intangible assets	3 years
Website
Disclosure of detailed information about intangible assets
Estimated useful lives of intangible assets	5 years

Significant accounting polici_5

Significant accounting policies - Exchange rates for the currencies (Details)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Foreign exchange rates [abstract]
Exchange rate as at end of year	1.3535	1.3076
Average exchange rate for year ended	1.3465	1.2717

Significant accounting polici_6

Significant accounting policies (Details)	12 Months Ended
	Aug. 31, 2023
Minimum
Disclosure of quantitative information about right-of-use assets [line items]
Estimated useful life of leases	2 years
Maximum
Disclosure of quantitative information about right-of-use assets [line items]
Estimated useful life of leases	6 years

Significant accounting estima_2

Significant accounting estimates and assumptions (Details)	12 Months Ended
	Aug. 31, 2023 CAD ($)
Significant accounting estimates and assumptions
Period of projected cash inflows	5 years
Impairment of goodwill	$ 0
Post tax discount rate	28%
Long term growth rate	2%

Goodwill (Details)

Goodwill (Details) - EBR		12 Months Ended
	Jun. 03, 2021 USD ($) item $ / shares shares	Aug. 31, 2023 CAD ($)	Aug. 31, 2022 CAD ($)	Jun. 03, 2021 CAD ($) $ / shares shares
Disclosure of detailed information about business combination [line items]
Shares Issued	7,858,078			7,858,078
Shares outstanding	7,858,078			7,858,078
Number of operating fleet over ships in California | item	20
Cash consideration	$ 4,582,367			$ 5,546,039
Equity consideration | $				$ 3,474,232
Shares Issued	284,495			284,495
Per Share Value | (per share)	$ 10.09			$ 12.21
Share Issue Related Cost | $		$ 9,680,941	$ 9,352,640

Trade and other receivables (De

Trade and other receivables (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Ifrs Trade And Other Receivables [Line items]
Trade receivables	$ 59,364	$ 108,716
Sales taxes receivable	159,114	194,523
Other receivables	332,358	169,309
Total trade and other current receivables	550,836	472,548
Past Due But Not Impaired
Ifrs Trade And Other Receivables [Line items]
Trade receivables	$ 59,364	$ 108,706

Trade and other receivables - A

Trade and other receivables - Aging analysis (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Ifrs Financing Receivable, Past Due [Line Items]
Trade receivables	$ 59,364	$ 108,716
0 - 30
Ifrs Financing Receivable, Past Due [Line Items]
Trade receivables	13,986	77,625
61-90
Ifrs Financing Receivable, Past Due [Line Items]
Trade receivables		14,212
91 and over
Ifrs Financing Receivable, Past Due [Line Items]
Trade receivables	$ 45,378	$ 16,879

Trade and other receivables -_2

Trade and other receivables - Allowance for expected credit losses (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Trade and other receivables
Change during the period	$ 0	$ 0

Inventories (Details)

Inventories (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Inventories
Raw materials	$ 1,553,501	$ 1,709,368
Work-in-process	369,753	75,170
Finished goods	522,300	309,238
Total current inventories	$ 2,445,554	$ 2,093,776

Inventories - Additional Inform

Inventories - Additional Information (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Inventories
Inventories recognized as an expense	$ 4,023,409	$ 4,065,381	$ 1,909,606
Cost of sales including depreciation	$ 471,940	$ 687,023	$ 232,195

Investment in Limestone- Additi

Investment in Limestone- Additional Information (Details)		12 Months Ended
	May 14, 2021 CAD ($) item	Aug. 31, 2023 CAD ($) $ / shares	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)	Jul. 18, 2023 $ / shares
Investment in Limestone
Purchase of senior unsecured subordinated convertible debentures | item	3,400
Aggregate amount of debentures	$ 3,400,000	$ 113,334	$ 340,000	$ 85,000
Borrowings interest rate	10%
Debt Term	36 months
Conversion price | $ / shares		$ 0.36
Closing date of issuance of debentures		120 days
Days prior to end of term		30 days
Share price | $ / shares		$ 0.50
Common Share for consecutive trading days		20 days
Period for conversion		30 days
Impairment loss on debentures		$ 2,637,000	0	0
Net income (loss) for change in the fair value of the Debentures		88,866	$ 670,000	$ 550,000
Conversion price of debenture into common shares | $ / shares					$ 0.071
Fair value of investment		$ 0

Right-of-use assets (Details)

Right-of-use assets (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Right-of-use assets
Balance at beginning of the year	$ 2,261,100
Additions	921,498	$ 234,608	$ 852,467
Balance at end of the year	2,414,593	2,261,100
Net book value	44,807
Premises
Right-of-use assets
Balance at beginning of the year	2,057,632
Balance at end of the year	2,401,448	2,057,632
Computer equipment
Right-of-use assets
Balance at beginning of the year	768
Balance at end of the year		768
Rolling stock
Right-of-use assets
Balance at beginning of the year	67,705
Balance at end of the year	13,145	67,705
Boat rental fleet
Right-of-use assets
Balance at beginning of the year	134,995
Balance at end of the year		134,995
Cost
Right-of-use assets
Balance at beginning of the year	3,183,164	3,279,168
Additions	921,498	234,608
Disposals	(216,498)	(371,362)
Transferred to Property and equipment	(44,807)
Currency translation	40,354	40,750
Balance at end of the year	3,883,711	3,183,164	3,279,168
Cost | Premises
Right-of-use assets
Balance at beginning of the year	2,880,039	2,746,118
Additions	921,498	93,565
Currency translation	38,255	40,356
Balance at end of the year	3,839,792	2,880,039	2,746,118
Cost | Computer equipment
Right-of-use assets
Balance at beginning of the year	3,646	3,646
Transferred to Property and equipment	(3,646)
Balance at end of the year		3,646	3,646
Cost | Rolling stock
Right-of-use assets
Balance at beginning of the year	88,020	202,536
Additions		141,043
Disposals	(46,200)	(255,953)
Currency translation	2,099	394
Balance at end of the year	43,919	88,020	202,536
Cost | Boat rental fleet
Right-of-use assets
Balance at beginning of the year	211,459	326,868
Disposals	(170,298)	(115,409)
Transferred to Property and equipment	(41,161)
Balance at end of the year		211,459	326,868
Accumulated depreciation
Right-of-use assets
Balance at beginning of the year	(922,064)	(373,969)
Depreciation	662,081	651,457
Disposals	(115,027)	(103,362)
Balance at end of the year	(1,469,118)	(922,064)	(373,969)
Accumulated depreciation | Premises
Right-of-use assets
Balance at beginning of the year	(822,407)	(334,357)
Depreciation	615,937	488,050
Balance at end of the year	(1,438,344)	(822,407)	(334,357)
Accumulated depreciation | Computer equipment
Right-of-use assets
Balance at beginning of the year	(2,878)	(576)
Depreciation	768	2,302
Disposals	(3,646)
Balance at end of the year		(2,878)	(576)
Accumulated depreciation | Rolling stock
Right-of-use assets
Balance at beginning of the year	(20,315)	(14,949)
Depreciation	23,934	71,488
Disposals	(13,475)	(66,122)
Balance at end of the year	(30,774)	(20,315)	(14,949)
Accumulated depreciation | Boat rental fleet
Right-of-use assets
Balance at beginning of the year	(76,464)	(24,087)
Depreciation	21,442	89,617
Disposals	$ (97,906)	(37,240)
Balance at end of the year		$ (76,464)	$ (24,087)

Property and equipment (Details

Property and equipment (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Property and equipment
Beginning balance	$ 2,218,982
Ending balance	2,313,926	$ 2,218,982
Cost
Property and equipment
Beginning balance	2,620,537	1,685,315
Additions	938,802	1,175,931
Disposals	(635,842)	(270,828)
Transferred from Right-of-use assets	44,807
Currency translation	(72,462)	30,119
Ending balance	2,895,842	2,620,537
Accumulated depreciation
Property and equipment
Beginning balance	(401,555)	(270,806)
Depreciation	241,046	157,947
Disposals	(60,685)	(27,198)
Ending balance	(581,916)	(401,555)
Machinery and equipment
Property and equipment
Beginning balance	135,280
Ending balance	166,194	135,280
Machinery and equipment | Cost
Property and equipment
Beginning balance	333,084	302,938
Additions	62,409	30,146
Ending balance	395,493	333,084
Machinery and equipment | Accumulated depreciation
Property and equipment
Beginning balance	(197,804)	(167,604)
Depreciation	31,495	30,200
Ending balance	(229,299)	(197,804)
Rolling stock
Property and equipment
Beginning balance	88,665
Ending balance	15,264	88,665
Rolling stock | Cost
Property and equipment
Beginning balance	118,664	32,175
Additions	69,029	197,739
Disposals	(136,072)	(111,215)
Currency translation	(2,347)	(35)
Ending balance	49,274	118,664
Rolling stock | Accumulated depreciation
Property and equipment
Beginning balance	(29,999)	(24,362)
Depreciation	25,875	23,938
Disposals	(21,864)	(18,301)
Ending balance	(34,010)	(29,999)
Computer equipment
Property and equipment
Beginning balance	8,229
Ending balance	7,955	8,229
Computer equipment | Cost
Property and equipment
Beginning balance	21,032	14,647
Additions	565	11,284
Disposals		(4,899)
Transferred from Right-of-use assets	3,646
Ending balance	25,243	21,032
Computer equipment | Accumulated depreciation
Property and equipment
Beginning balance	(12,803)	(8,398)
Depreciation	4,485	5,079
Disposals		(674)
Ending balance	(17,288)	(12,803)
Moulds
Property and equipment
Beginning balance	838,896
Ending balance	831,701	838,896
Moulds | Cost
Property and equipment
Beginning balance	911,924	691,005
Additions	30,501	220,919
Ending balance	942,425	911,924
Moulds | Accumulated depreciation
Property and equipment
Beginning balance	(73,028)	(50,420)
Depreciation	37,696	22,608
Ending balance	(110,724)	(73,028)
Leasehold improvements
Property and equipment
Beginning balance	219,851
Ending balance	248,218	219,851
Leasehold improvements | Cost
Property and equipment
Beginning balance	264,356	131,233
Additions	97,699	133,123
Ending balance	362,055	264,356
Leasehold improvements | Accumulated depreciation
Property and equipment
Beginning balance	(44,505)	(11,579)
Depreciation	69,332	32,926
Ending balance	(113,837)	(44,505)
Boat rental fleet
Property and equipment
Beginning balance	928,061
Ending balance	1,044,594	928,061
Boat rental fleet | Cost
Property and equipment
Beginning balance	971,477	513,317
Additions	678,599	582,720
Disposals	(499,770)	(154,714)
Transferred from Right-of-use assets	41,161
Currency translation	(70,115)	30,154
Ending balance	1,121,352	971,477
Boat rental fleet | Accumulated depreciation
Property and equipment
Beginning balance	(43,416)	(8,443)
Depreciation	72,163	43,196
Disposals	(38,821)	(8,223)
Ending balance	$ (76,758)	$ (43,416)

Property and equipment - Additi

Property and equipment - Additional Information (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Moulds
Property and equipment
Asset not depreciated and not ready for use	$ 377,253	$ 346,752

Intangible assets (Details)

Intangible assets (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	$ 1,112,670
Balance at the end	966,724	$ 1,112,670
Intellectual property
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	875,981
Balance at the end	772,473	875,981
Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	77,075
Balance at the end	64,155	77,075
Trade name
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	83,855
Balance at the end	69,486	83,855
Backlog
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	59,720
Balance at the end	47,365	59,720
Website
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	16,039
Balance at the end	13,245	16,039
Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	1,333,547	1,300,490
Additions		32,202
Currency translation	11,824	855
Balance at the end	1,345,371	1,333,547
Cost | Intellectual property
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	1,035,070	1,035,070
Balance at the end	1,035,070	1,035,070
Cost | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	101,775	73,573
Additions		28,202
Balance at the end	101,775	101,775
Cost | Trade name
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	98,294	93,856
Additions		4,000
Currency translation	6,057	438
Balance at the end	104,351	98,294
Cost | Backlog
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	79,550	79,220
Currency translation	4,556	330
Balance at the end	84,106	79,550
Cost | Website
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	18,858	18,771
Currency translation	1,211	87
Balance at the end	20,069	18,858
Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(220,877)	(74,768)
Depreciation	157,770	146,109
Balance at the end	(378,647)	(220,877)
Accumulated depreciation | Intellectual property
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(159,089)	(55,581)
Depreciation	103,508	103,508
Balance at the end	(262,597)	(159,089)
Accumulated depreciation | Software
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(24,700)	(7,107)
Depreciation	12,920	17,593
Balance at the end	(37,620)	(24,700)
Accumulated depreciation | Trade name
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(14,439)	(4,633)
Depreciation	20,426	9,806
Balance at the end	(34,865)	(14,439)
Accumulated depreciation | Backlog
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(19,830)	(6,520)
Depreciation	16,911	13,310
Balance at the end	(36,741)	(19,830)
Accumulated depreciation | Website
Reconciliation of changes in intangible assets other than goodwill [abstract]
Balance at the beginning	(2,819)	(927)
Depreciation	4,005	1,892
Balance at the end	$ (6,824)	$ (2,819)

Intangible assets - Additional

Intangible assets - Additional Information (Details)			12 Months Ended
	Feb. 16, 2021 CAD ($) $ / shares shares	Feb. 16, 2021 EUR (€) shares	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)	Aug. 31, 2023 $ / shares	Feb. 16, 2021 $ / shares
Intangible assets
Additions to intangible assets			$ 32,202	$ 528,726
Share price | $ / shares					$ 0.50
Intellectual property
Intangible assets
Additions to intangible assets	$ 461,134	€ 300,000
Shares issued for purchase of intangible assets | shares	30,000	30,000
Share price | (per share)	$ 19.13					$ 15.07
Total consideration	$ 1,035,070

Credit facility (Details)

Credit facility (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Credit facility
Authorized line of credit	$ 250,000
Amount drawn on line of credit	$ 155,000	$ 0
Prime rate
Credit facility
Spread on variable interest rate	1%
Secured First Ranking Movable Hypothec
Credit facility
Secured first ranking movable hypothec on accounts payable and inventory	$ 750,000

Trade and other payables (Detai

Trade and other payables (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Trade and other payables.
Trade payable	$ 1,107,310	$ 737,946
Sales taxes payable	62,398	21,547
Government remittances		9,450
Salaries, vacation and other employees benefits payables	585,192	261,388
Trade and other payables	$ 1,754,900	$ 1,030,331

Contract liabilities (Details)

Contract liabilities (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Contract liabilities
Opening balance	$ 1,029,318	$ 898,713
Payments received in advance	3,330,235	2,502,080
Boat sale deposits	151,572	87,609
Payments reimbursed	(8,131)	(2,615)
Transferred to revenues	(2,718,943)	(2,475,307)
Currency translation	31,680	18,838
Closing balance	$ 1,815,731	$ 1,029,318

Lease liabilities (Details)

Lease liabilities (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Lease liabilities
Opening balance	$ 2,415,549	$ 2,966,816
Additions	921,498	234,608
Repayment	(726,893)	(695,749)
Interest on lease liability	139,132	141,994
Lease termination	(151,800)	(273,652)
Currency translation	44,308	41,532
Closing balance	2,641,794	2,415,549
Current	647,638	561,168
Non-current	$ 1,994,156	$ 1,854,381

Lease liabilities - Undiscounte

Lease liabilities - Undiscounted lease payments (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Lease liabilities
Undiscounted lease payments	$ 2,997,901
Short-term lease expense	$ 127,511	$ 58,663	$ 50,186
Weighted average interest rate	5.79%	5.40%	5.20%
Less than one year
Lease liabilities
Undiscounted lease payments	$ 775,991
One year to five years
Lease liabilities
Undiscounted lease payments	$ 2,221,910

Long-term debt (Details)

Long-term debt (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	May 14, 2021
Long-term debt
Total borrowings	$ 305,329	$ 227,349
Current portion of long-term debt	271,546	72,090
Long-term debt, noncurrent	33,783	155,259
Borrowings interest rate			10%
The government assistance loan maturing by December 31, 2025
Long-term debt
Total borrowings	$ 40,000	39,342
Borrowings interest rate	5%
Term loan maturing January 2025
Long-term debt
Total borrowings	$ 265,329	$ 188,007
Monthly instalments	$ 23,337
Term loan maturing January 2025 | Minimum.
Long-term debt
Borrowings interest rate	9.44%
Term loan maturing January 2025 | Maximum.
Long-term debt
Borrowings interest rate	10.71%

Related party transactions (Det

Related party transactions (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disclosure of transactions between related parties [line items]
Advertising and promotion			$ 11,245
Office salaries and benefits [note 17]	$ 4,014,181	$ 3,335,799	1,754,613
Right-of-use assets	2,414,593	2,261,100
Lease liability	2,641,794	2,415,549	2,966,816
EB Rental Ltd.
Disclosure of transactions between related parties [line items]
Sales of boats			84,149
Sale of parts and boat maintenance			40,310
Cost of sales			11,444
Travel and entertainment			8,926
9335-1427 Quebec Inc.
Disclosure of transactions between related parties [line items]
Research and Development			75,020
Mac Engineering, SASU
Disclosure of transactions between related parties [line items]
Research and Development	545,892	666,178	176,500
Montana Strategies Inc.
Disclosure of transactions between related parties [line items]
Office salaries and benefits [note 17]	29,059	$ 62,462
California Electric Boat Company Inc.
Disclosure of transactions between related parties [line items]
Right-of-use assets	1,270,955		889,866
Lease liability	$ 1,395,732		$ 971,399

Related party transactions - Re

Related party transactions - Remuneration of directors and key management of the Company (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Related party transactions
Wages	$ 2,447,827	$ 2,324,770	$ 1,299,402
Share-based payments - capital stock	433,263
Share-based payments - stock options	382,196	2,560,031	6,081,900
Remuneration of directors and key management of the Company	$ 3,263,286	$ 4,884,801	$ 7,381,302

Related party transactions - Am

Related party transactions - Amounts due to and from related parties (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Disclosure of transactions between related parties [line items]
Share subscription receivable	$ 39,200	$ 39,200
Amounts due to related parties included in trade and other payable	62,274	44,662
9335-1427 Quebec Inc
Disclosure of transactions between related parties [line items]
Share subscription receivable	25,000	25,000
Alexandre Mongeon
Disclosure of transactions between related parties [line items]
Share subscription receivable	14,200	14,200
Current advances to related party	20,135	16,736
Amounts due to related parties included in trade and other payable	19,384	16,000
Patrick Bobby
Disclosure of transactions between related parties [line items]
Amounts due to related parties included in trade and other payable	13,847	12,308
Kulwant Sandher
Disclosure of transactions between related parties [line items]
Amounts due to related parties included in trade and other payable	8,654	8,062
Xavier Montagne
Disclosure of transactions between related parties [line items]
Amounts due to related parties included in trade and other payable	10,454	$ 8,292
Mac Engineering, SASU
Disclosure of transactions between related parties [line items]
Amounts due to related parties included in trade and other payable	$ 9,935

Capital stock - Voting Common S

Capital stock - Voting Common Shares (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Disclosure of classes of share capital [line items]
Issued capital	$ 50,395,717	$ 43,441,591
Capital stock
Disclosure of classes of share capital [line items]
Shares outstanding	11,172,800	8,417,923	8,324,861	4,585,001

Capital stock - Additional Info

Capital stock - Additional Information (Details)												6 Months Ended	12 Months Ended
	Aug. 02, 2023 $ / shares shares	Jun. 16, 2023 $ / shares shares	Apr. 19, 2023 $ / shares shares	Feb. 17, 2023 $ / shares shares	Jan. 19, 2023 $ / shares shares	Aug. 25, 2022 shares	Aug. 05, 2022 $ / shares shares	Feb. 01, 2022 shares	Jan. 31, 2022 shares	Jan. 12, 2022 shares	Nov. 23, 2020 $ / shares shares	Aug. 31, 2022 CAD ($) shares	Aug. 31, 2023 CAD ($) shares employee	Aug. 31, 2023 USD ($) shares employee	Aug. 31, 2022 CAD ($) shares	Aug. 31, 2021 CAD ($)	Aug. 31, 2023 $ / shares	Aug. 02, 2023 $ / shares	Jun. 16, 2023 $ / shares	Apr. 19, 2023 $ / shares	Feb. 17, 2023 $ / shares	Jan. 19, 2023 $ / shares	Aug. 05, 2022 $ / shares	Nov. 23, 2020 $ / shares
Disclosure of classes of share capital [line items]
Number of Voting Common Shares issued to third parties in exchange for services | shares												53,445	299,393	299,393
Number of Voting Common Shares issued upon exercises of stock options | shares						2,703							57,219	57,219	2,703
Number of former employees | employee													2	2
Number of warrants to purchase voting common shares issued | shares	493,832	493,828	381,293	475,059	554,253		50,000				151,800		2,398,265	2,398,265
Total cash consideration price, net of transaction costs | $													$ 12,012,591
Transaction costs | $													800,744		$ 0	$ 0
Net transaction costs | $													$ 1,225,676
Warrants exercise term	3 years	3 years	3 years	3 years	3 years		4 years				5 years		3 years	3 years
Exercise price of warrants | (per share)	$ 4.21	$ 4.21	$ 4.21	$ 4.21	$ 4.21		$ 8				$ 12.50						$ 4.21	$ 5.37	$ 5.35	$ 5.64	$ 5.67	$ 5.63	$ 10.30	$ 16.53
Derivative liabilities | $												$ 0	$ 5,558,822		$ 0
Allocated transaction costs													$ 719,167	$ 718,546
Board of directors
Disclosure of classes of share capital [line items]
Number of Voting Common Shares issued to third parties in exchange for services | shares								5,435	6,479	25,000

Capital stock - Derivative liab

Capital stock - Derivative liabilities (Details)	12 Months Ended
	Aug. 31, 2023 CAD ($)
Capital stock.
Opening balance	$ 0
Additions	7,614,510
Change in estimate	(2,055,688)
Closing balance	$ 5,558,822

Share-based payments - Stock op

Share-based payments - Stock options (Details)			12 Months Ended
	Mar. 25, 2023 CAD ($) shares $ / shares	Mar. 25, 2023 shares $ / shares	Aug. 31, 2023 CAD ($) shares $ / shares	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of share options granted			1,664,526
Share-based compensation expense | $			$ 1,136,182	$ 2,699,481	$ 7,121,444
Directors and officers of the company
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of share options granted	255,000	255,000
Exercise price | (per share)	$ 5.78	$ 4.21
Expiration period	5 years
Number of stock options cancelled	425,000
Stock based compensation expense | $	$ 129,800
Minimum.
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $ / shares			$ 2.78
Expiration period			5 years
Minimum. | Directors and officers of the company
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of stock cancelled | (per share)	$ 8.98	7.42
Maximum.
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $ / shares			$ 16.29
Expiration period			10 years
Maximum. | Directors and officers of the company
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of stock cancelled | (per share)	$ 16.29	$ 12.50

Share-based payments - Assumpti

Share-based payments - Assumptions used to determine the fair value of option grants (Details)	12 Months Ended
	Aug. 31, 2023 Y $ / shares
May 27, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 3.70
Market Price	$ 3.70
Expected volatility	84%
Risk-free interest rate	0.40%
Expected life | Y	5
May 27, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 2.78
Market Price	$ 3.70
Expected volatility	84%
Risk-free interest rate	0.40%
Expected life | Y	5
October 23, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 3.70
Market Price	$ 3.70
Expected volatility	97%
Risk-free interest rate	0.40%
Expected life | Y	5
November 24, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 16.29
Market Price	$ 13.03
Expected volatility	101%
Risk-free interest rate	0.40%
Expected life | Y	5
November 24, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.68
Market Price	$ 5.72
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	4
February 23, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 15.75
Market Price	$ 15.05
Expected volatility	103%
Risk-free interest rate	0.60%
Expected life | Y	5
May 14, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.68
Market Price	$ 5.72
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	3
July 14, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 9.25
Market Price	$ 9.01
Expected volatility	105%
Risk-free interest rate	0.70%
Expected life | Y	5
September 21, 2021
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 8.85
Market Price	$ 8.58
Expected volatility	106%
Risk-free interest rate	0.90%
Expected life | Y	5
January 22, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.65
Market Price	$ 5.52
Expected volatility	107%
Risk-free interest rate	1.50%
Expected life | Y	5
November 30, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 6.09
Market Price	$ 6.09
Expected volatility	107%
Risk-free interest rate	3.10%
Expected life | Y	5
December 1, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.83
Market Price	$ 5.83
Expected volatility	107%
Risk-free interest rate	3%
Expected life | Y	5
March 22, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.76
Market Price	$ 5.14
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	2
March 25, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.77
Market Price	$ 5.23
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	3
March 25, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.77
Market Price	$ 5.23
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	4
April 20, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price	$ 5.79
Market Price	$ 5.27
Expected volatility	75%
Risk-free interest rate	3.60%
Expected life | Y	5

Share-based payments - Option g

Share-based payments - Option grants outstanding (Details)		12 Months Ended
	Aug. 25, 2022 shares	Aug. 31, 2023 shares $ / shares	Aug. 31, 2022 shares $ / shares
Share-based payments
Number of options, Beginning balance | shares		1,706,418	1,659,121
Number of options, Granted | shares		88,500	152,500
Number of options, Forfeited | shares		(268,158)	(102,500)
Number of options, Stock options modifications | shares		(370,000)
Number of options, Exercised | shares	(2,703)	(57,219)	(2,703)
Number of options, Ending Balance | shares		1,099,541	1,706,418
Weighted average exercise price, Beginning balance (in dollars per share) | $ / shares		$ 9.45	$ 9.95
Weighted average exercise price, Granted (in dollars per share) | $ / shares		5.80	6.70
Weighted average exercise price, Forfeited (in dollars per share) | $ / shares		9.65	13.59
Weighted average exercise price, Stock options modifications (in dollars per share) | $ / shares		5.78
Weighted average exercise price, Exercised (in dollars per share) | $ / shares		2.86	3.70
Weighted average exercise price, Ending balance (in dollars per share) | $ / shares		$ 5.22	$ 9.45

Share-based payments - Warrants

Share-based payments - Warrants (Details)								12 Months Ended
	Aug. 02, 2023 $ / shares shares	Jun. 16, 2023 $ / shares shares	Apr. 19, 2023 $ / shares shares	Feb. 17, 2023 $ / shares shares	Jan. 19, 2023 $ / shares shares	Aug. 05, 2022 $ / shares shares	Nov. 23, 2020 $ / shares shares	Aug. 31, 2023 $ / shares shares	Aug. 02, 2023 $ / shares	Jun. 16, 2023 $ / shares	Apr. 19, 2023 $ / shares	Feb. 17, 2023 $ / shares	Jan. 19, 2023 $ / shares	Aug. 05, 2022 $ / shares	Nov. 23, 2020 $ / shares
Share-based payments
Number of warrants to purchase voting common shares issued	493,832	493,828	381,293	475,059	554,253	50,000	151,800	2,398,265
Warrants term	3 years	3 years	3 years	3 years	3 years	4 years	5 years	3 years
Exercise price of warrants | (per share)	$ 4.21	$ 4.21	$ 4.21	$ 4.21	$ 4.21	$ 8	$ 12.50	$ 4.21	$ 5.37	$ 5.35	$ 5.64	$ 5.67	$ 5.63	$ 10.30	$ 16.53

Share-based payments - Exercise

Share-based payments - Exercise price range of warrants (Details)	12 Months Ended
	Aug. 31, 2023 shares $ / shares	Aug. 31, 2022 shares	Aug. 31, 2021 shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	1,099,541	1,706,418	1,659,121
Exercise Price 2.78 - 3.70
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	454,041
Weighted average grant date fair value	$ 2.48
Weighted average remaining contractual life (years)	2 years 1 month 17 days
Exercisable options | shares	497,869
Exercise Price 2.78 - 3.70 | Minimum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 2.78
Exercise Price 2.78 - 3.70 | Maximum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 3.70
Exercise Price 5.65 - 5.83
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	580,500
Weighted average grant date fair value	$ 2.94
Weighted average remaining contractual life (years)	4 years 6 months 3 days
Exercisable options | shares	498,300
Exercise Price 5.65 - 5.83 | Minimum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 5.65
Exercise Price 5.65 - 5.83 | Maximum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 5.83
Exercise Price 6.09 - 8.85
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of options outstanding | shares	30,000
Weighted average grant date fair value	$ 6.26
Weighted average remaining contractual life (years)	7 years 9 months 29 days
Exercisable options | shares	25,000
Exercise Price 6.09 - 8.85 | Minimum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 6.09
Exercise Price 6.09 - 8.85 | Maximum
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	8.85
Exercise Price 16.29
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price	$ 16.29
Number of options outstanding | shares	35,000
Weighted average grant date fair value	$ 9.33
Weighted average remaining contractual life (years)	7 years 6 months
Exercisable options | shares	35,000

Share-based payments - Fair val

Share-based payments - Fair value of option grants relating to warrants (Details)	12 Months Ended
	Aug. 31, 2023 Y $ / shares $ / shares shares	Aug. 31, 2023 $ / shares shares	Aug. 02, 2023 $ / shares	Aug. 02, 2023 $ / shares	Jun. 16, 2023 $ / shares	Jun. 16, 2023 $ / shares	Apr. 19, 2023 $ / shares	Apr. 19, 2023 $ / shares	Feb. 17, 2023 $ / shares	Feb. 17, 2023 $ / shares	Jan. 19, 2023 $ / shares	Jan. 19, 2023 $ / shares	Aug. 05, 2022 $ / shares	Aug. 05, 2022 $ / shares	Nov. 23, 2020 $ / shares	Nov. 23, 2020 $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants | (per share)	$ 4.21		$ 4.21	$ 5.37	$ 4.21	$ 5.35	$ 4.21	$ 5.64	$ 4.21	$ 5.67	$ 4.21	$ 5.63	$ 8	$ 10.30	$ 12.50	$ 16.53
November 23, 2020
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 16.53
Number of warrants outstanding | shares	151,800	151,800
Weighted average remaining contractual life (years)	2 years 2 months 23 days
August 5, 2022
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 10.30
Market price of warrant options	$ 7.20
Expected volatility (%)	100%
Risk-free interest rate (%)	2.90%
Expected life (years) | Y	3
Number of warrants outstanding | shares	50,000	50,000
Weighted average remaining contractual life (years)	1 year 11 months 4 days
January 19, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 5.63
Market price of warrant options	$ 5.63
Expected volatility (%)	100%
Risk-free interest rate (%)	3.40%
Expected life (years) | Y	3
Number of warrants outstanding | shares	554,253	554,253
Weighted average remaining contractual life (years)	2 years 4 months 20 days
February 17, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 5.67
Market price of warrant options	$ 6.05
Expected volatility (%)	100%
Risk-free interest rate (%)	4%
Expected life (years) | Y	3
Number of warrants outstanding | shares	475,059	475,059
Weighted average remaining contractual life (years)	2 years 5 months 19 days
April 19, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 5.64
Market price of warrant options	$ 5.55
Expected volatility (%)	75%
Risk-free interest rate (%)	3.90%
Expected life (years) | Y	3
Number of warrants outstanding | shares	381,293	381,293
Weighted average remaining contractual life (years)	2 years 7 months 20 days
June 16, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 5.35
Market price of warrant options	$ 5.50
Expected volatility (%)	75%
Risk-free interest rate (%)	4.10%
Expected life (years) | Y	3
Number of warrants outstanding | shares	493,828	493,828
Weighted average remaining contractual life (years)	2 years 9 months 14 days
August 2, 2023
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of warrants		$ 5.37
Market price of warrant options	$ 5.10
Expected volatility (%)	75%
Risk-free interest rate (%)	4.80%
Expected life (years) | Y	3
Number of warrants outstanding | shares	493,832	493,832
Weighted average remaining contractual life (years)	2 years 11 months 1 day

Revenues (Details)

Revenues (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 5,651,502	$ 7,350,946	$ 3,513,788
Sales of boats
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	1,287,979	2,459,365	2,080,110
Sales of parts and boat maintenance
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	324,720	97,721	75,205
Boat rental and boat club membership revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 4,038,803	$ 4,793,860	1,355,548
Others
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues			$ 2,925

Revenues - geographical distrib

Revenues - geographical distribution of revenues from external customers (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 5,651,502	$ 7,350,946	$ 3,513,788
Canada
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	348,570	557,639	571,216
USA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	5,116,927	6,086,527	2,692,599
Other
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	186,005	706,780	$ 249,973
Sale of electric boats
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	1,612,699	2,557,085
Sale of electric boats | Canada
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	348,570	557,639
Sale of electric boats | USA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	1,078,124	1,292,666
Sale of electric boats | Other
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	186,005	706,780
Rental of electric boats
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	4,038,803	4,793,861
Rental of electric boats | USA
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenues	$ 4,038,803	$ 4,793,861

Grants and investment tax cre_2

Grants and investment tax credits (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Grants and investment tax credits
Grants and investment tax credits	$ 232,882	$ 1,458,632	$ 921,658
Grants and investment tax credits excluded from cost of sales		8,535
Grants and investment tax credits excluded from research and development expense	144,032	1,408,840	859,516
Grants and investment tax credits excluded from property and equipment and intangible asset		40,584	44,939
Grants Excluded From Office Salaries And Benefits	$ 88,850	$ 0	$ 17,203

Net finance expense (income) (D

Net finance expense (income) (Details)	12 Months Ended
	Aug. 31, 2023 CAD ($)	Aug. 31, 2023 USD ($)	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)
Net finance expense (income)
Interest and bank charges	$ 142,117		$ 184,895	$ 123,100
Interest income	(113,334)		(379,288)
Foreign currency exchange (gain) loss	(208,132)		(251,947)	1,583,292
Transaction costs	719,167	$ 718,546
Gain on derivative liabilities	2,055,688
Loss (gain) on Debentures [note 8]	(88,666)		670,000	550,000
Net finance expense	$ (1,604,536)		$ 223,660	$ 2,256,392

Income taxes - Income tax expen

Income taxes - Income tax expense (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Income taxes at the applicable tax rate of 26.5% [2022 - 26.5%; 2021 - 26.5%]	$ (5,606,886)	$ (3,406,162)	$ (3,977,204)
Change in tax status following the initial public offering			(127,979)
Adjustment in respect of current and deferred income tax of previous year	(72,894)	(4,396)	(207,601)
Permanent differences	70,418	823,119	2,100,615
Change in recognition of deferred income tax assets	5,328,487	2,816,417	2,317,759
Other		29,365
Total income tax expense (recovery)	$ (280,875)	$ 258,343	$ 105,590
Income taxes at the applicable tax rate (Percent)	26.50%	26.50%	26.50%
Research and development expenditures for income tax	$ 3,541,000	$ 1,439,000
Research and development
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused investment tax credit related to research and development expenditure carried for future payables	$ 642,000	$ 240,000

Income taxes - Deferred tax ass

Income taxes - Deferred tax asset and liability (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Income taxes
Beginning Balance	$ (188,044)
Recognized in net loss	210,268
Others	1,099
Ending Balance	23,323
Net operating losses carried forward for income tax purposes	35,333,000	$ 18,194,000
Net operating losses carried forward and deductible temporary differences not been recognized	45,415,000	$ 23,849,000
Property and equipment
Income taxes
Beginning Balance	(155,298)
Recognized in net loss	(20,228)
Others	(8,650)
Ending Balance	(184,176)
Intangibles
Income taxes
Beginning Balance	(294,385)
Recognized in net loss	39,009
Others	98
Ending Balance	(255,278)
Net operating losses
Income taxes
Beginning Balance	4,790,012
Recognized in net loss	4,564,752
Ending Balance	9,354,764
Financing fees
Income taxes
Beginning Balance	705,594
Recognized in net loss	(107,450)
Recognized in equity	134,225
Ending Balance	732,369
Research and development
Income taxes
Beginning Balance	430,835
Recognized in net loss	557,162
Ending Balance	987,997
Difference in timing of recognition
Income taxes
Beginning Balance	259,118
Recognized in net loss	493,379
Others	3,403
Ending Balance	755,900
Right-of-use asset
Income taxes
Beginning Balance	(616,907)
Recognized in net loss	19,531
Others	(6,613)
Ending Balance	(603,989)
Lease liability
Income taxes
Beginning Balance	658,847
Recognized in net loss	(7,400)
Others	12,861
Ending Balance	664,308
Net capital losses
Income taxes
Beginning Balance	50,418
Ending Balance	50,418
Unrecognized deferred tax assets
Income taxes
Beginning Balance	(6,016,278)
Recognized in net loss	(5,328,487)
Recognized in equity	(134,225)
Ending Balance	$ (11,478,990)

Financial risk management and_3

Financial risk management and fair value measurement - Fair value measurement and hierarchy (Details) - Derivatives - Volatility	12 Months Ended
	Aug. 31, 2023 CAD ($)
Financial risk management and fair value measurement
Percentage of fair value of derivative liability to determine remaining contractual life	75%
Percentage of reasonably possible increase in unobservable input liabilities	10%
Change in fair value of derivatives by percentage of reasonably possible increase in unobservable input liabilities	$ 628,000

Financial risk management and_4

Financial risk management and fair value measurement - Maturity analysis of liquidity risk (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Financial risk management and fair value measurement
Contractual cash flows	$ 969,859	$ 1,435,514
Less than one year
Financial risk management and fair value measurement
Contractual cash flows	896,076	1,280,255
One year to five years
Financial risk management and fair value measurement
Contractual cash flows	73,783	155,259
Trade and other payables
Financial risk management and fair value measurement
Contractual cash flows	550,836	1,030,331
Trade and other payables | Less than one year
Financial risk management and fair value measurement
Contractual cash flows	550,836	1,030,331
Other financial liabilities
Financial risk management and fair value measurement
Contractual cash flows	113,694	177,834
Other financial liabilities | Less than one year
Financial risk management and fair value measurement
Contractual cash flows	113,694	177,834
Long-term debt
Financial risk management and fair value measurement
Contractual cash flows	305,329	227,349
Long-term debt | Less than one year
Financial risk management and fair value measurement
Contractual cash flows	231,546	72,090
Long-term debt | One year to five years
Financial risk management and fair value measurement
Contractual cash flows	$ 73,783	$ 155,259

Financial risk management and_5

Financial risk management and fair value measurement - Foreign exchange risk (Details) - CAD ($)	Aug. 31, 2023	Aug. 31, 2022
Trade and other payables
Financial risk management and fair value measurement
Carrying amount of financial instruments	$ 800,149	$ 172,871
Cash
Financial risk management and fair value measurement
Carrying amount of financial instruments	3,258,419	5,142,703
Trade and other receivables
Financial risk management and fair value measurement
Carrying amount of financial instruments	$ 188,001	$ 103,116

Financial risk management and_6

Financial risk management and fair value measurement - Sensitivity analysis (Details) - Currency risk	12 Months Ended
	Aug. 31, 2023 CAD ($)
Financial risk management and fair value measurement
Percentage of reasonably possible increase in risk assumption	5%
Percentage of reasonably possible decrease in risk assumption	(5.00%)
Increase in net income (loss) due to reasonably possible increase in risk assumption	$ 24,281
Decrease in net income (loss) due to reasonably possible decrease in risk assumption	(24,281)
Increase in other comprehensive income due to reasonably possible increase in risk assumption	350,586
Decrease in other comprehensive income due to reasonably possible decrease in risk assumption	$ (350,586)

Segment information (Details)

Segment information (Details)	12 Months Ended
	Aug. 31, 2023 CAD ($) segment	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)
Segment information
Number of reportable business segments | segment	2
Segment revenues	$ 5,651,502	$ 7,350,946	$ 3,513,788
Segment gross profit (loss)	1,536,426	3,285,565	1,604,182
Segment (loss) profit before tax	(21,158,061)	(12,853,442)	(15,008,317)
Research and development	5,704,912	2,242,794	1,489,953
Office salaries and benefits [note 17]	4,014,181	3,335,799	1,754,613
Segment assets	24,046,512	29,100,209
Cash	3,359,257	5,824,716
Additions to property and equipment	938,802	1,175,931	544,354
Segment liabilities	12,482,075	5,071,613
Operating segments
Segment information
Revenue from external customers	5,651,502	7,350,946	3,513,788
Segment revenues	5,651,502	7,350,946	3,513,788
Segment gross profit (loss)	1,536,426	3,285,565	1,604,182
Segment (loss) profit before tax	(21,158,061)	(12,853,442)
Research and development	5,704,912	2,242,794	15,008,317
Office salaries and benefits [note 17]	4,014,181	3,335,799	1,489,953
Segment assets	24,046,512	29,100,209
Cash	3,359,257	5,824,716
Additions to property and equipment	983,609	1,108,888
Segment liabilities	12,482,075	5,071,613
Inter-segment eliminations
Segment information
Revenue from other segments	(1,203,780)	(901,225)	(149,483)
Segment revenues	(1,203,780)	(901,225)	(149,483)
Segment gross profit (loss)	(187,450)	(150,975)	(39,642)
Segment (loss) profit before tax	(170,367)	(93,852)
Research and development	(233,098)		(32,255)
Office salaries and benefits [note 17]	(7,739)
Segment assets	(10,239,388)	(9,438,326)
Additions to property and equipment	(185,744)	(162,446)
Segment liabilities	(1,013,824)	(262,883)
Sale of electric boats | Operating segments
Segment information
Revenue from external customers	1,612,699	2,557,086	2,158,240
Revenue from other segments	867,097	820,383	142,007
Segment revenues	2,479,796	3,377,469	2,300,247
Segment gross profit (loss)	(242,590)	596,570	640,228
Segment (loss) profit before tax	(20,363,838)	(13,632,377)
Research and development	5,938,010	2,242,794	(15,517,319)
Office salaries and benefits [note 17]	2,769,196	2,384,746	1,489,953
Segment assets	20,344,002	24,499,107
Cash	3,025,565	4,146,260
Additions to property and equipment	194,820	412,158
Segment liabilities	10,154,031	2,023,368
Rental of electric boats | Operating segments
Segment information
Revenue from external customers	4,038,803	4,793,860	1,355,548
Revenue from other segments	336,683	80,842	7,476
Segment revenues	4,375,486	4,874,702	1,363,024
Segment gross profit (loss)	1,966,466	2,839,970	1,003,596
Segment (loss) profit before tax	(623,856)	872,787
Research and development			$ 541,257
Office salaries and benefits [note 17]	1,237,246	951,053
Segment assets	13,941,898	14,039,428
Cash	333,692	1,678,456
Additions to property and equipment	974,533	859,176
Segment liabilities	$ 3,341,868	$ 3,311,128

Additional cash flows informa_3

Additional cash flows information (Details) - CAD ($)	12 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021
Additional cash flows information.
Advances to related parties converted to shares			$ 898,489
Unpaid share subscription			39,200
Right-of-use assets transferred to intangibles, net of accumulated depreciation			5,981
Additions to right-of-use assets	$ 921,498	$ 234,608	852,467
Lease termination	$ 101,471	$ 273,652	37,033
Shares issued as consideration for the acquisition of intangible assets			573,936
Shares issued as consideration for business acquisition			3,474,232
Transaction costs for share issuance transferred from prepaid			$ 213,019

Commitments (Details)

Commitments (Details)	Aug. 31, 2023 CAD ($)
2024
Commitments
Amount of the minimum fixed and determinable portion of the unconditional purchase obligations over the next years	$ 10,943,420

Commitments - Summary of undisc

Commitments - Summary of undiscounted lease commitments (Details)	Aug. 31, 2023 CAD ($)
2024
Commitments
Undiscounted lease commitments	$ 67,675
2025
Commitments
Undiscounted lease commitments	163,774
2026
Commitments
Undiscounted lease commitments	167,049
2027 and thereafter
Commitments
Undiscounted lease commitments	$ 446,736

Subsequent events (Details)

Subsequent events (Details)									1 Months Ended			12 Months Ended
	Sep. 20, 2023 CAD ($) $ / shares shares	Aug. 02, 2023 $ / shares shares	Jun. 16, 2023 $ / shares shares	Apr. 19, 2023 $ / shares shares	Feb. 17, 2023 $ / shares shares	Jan. 19, 2023 $ / shares shares	Aug. 05, 2022 $ / shares shares	Nov. 23, 2020 $ / shares shares	Nov. 30, 2023 shares	Oct. 31, 2023 shares	Sep. 30, 2023 shares	Aug. 31, 2023 CAD ($) shares	Aug. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)	Aug. 31, 2023 $ / shares	Aug. 02, 2023 $ / shares	Jun. 16, 2023 $ / shares	Apr. 19, 2023 $ / shares	Feb. 17, 2023 $ / shares	Jan. 19, 2023 $ / shares	Aug. 05, 2022 $ / shares	Nov. 23, 2020 $ / shares
Subsequent events
Transaction costs | $												$ 800,744	$ 0	$ 0
Number of warrants to purchase voting common shares issued		493,832	493,828	381,293	475,059	554,253	50,000	151,800				2,398,265
Warrants exercise term		3 years	3 years	3 years	3 years	3 years	4 years	5 years				3 years
Exercise price of warrants | (per share)		$ 4.21	$ 4.21	$ 4.21	$ 4.21	$ 4.21	$ 8	$ 12.50							$ 4.21	$ 5.37	$ 5.35	$ 5.64	$ 5.67	$ 5.63	$ 10.30	$ 16.53
Issue of voting common shares
Subsequent events
Shares issued for services									103,650	103,650	103,650
Number of shares and warrants issued	372,870
Proceeds from issuing shares and warrants | $	$ 1,695,388
Transaction costs | $	$ 334,672
Number of warrants to purchase voting common shares issued	372,870
Warrants exercise term	3 years
Exercise price of warrants | $ / shares	$ 4.05