Annual report pursuant to Section 13 and 15(d)

LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)

v3.20.2
LONG-TERM OBLIGATIONS AND OPERATING LEASE (Tables)
12 Months Ended
Aug. 31, 2020
LONG-TERM OBLIGATIONS AND OPERATING LEASE [Abstract]  
ROU Lease Assets and Lease Liabilities
ROU lease assets and lease liabilities for the Company’s operating leases were recorded in the consolidated balance sheet as follows:

   
As of August 31, 2020
 
Operating leases - ROU assets
 
$
195,566
 
         
Accrued liabilities
 
$
73,991
 
Lease obligations - operating leases, net of current portion
   
120,285
 
Total lease liability
 
$
194,275
 
         
Weighted average remaining lease term (in years)
   
2.4
 
Weighted average discount rate
   
6
%