Revenues [Text Block] |
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Three Months Ended |
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November 30 |
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November 30 |
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2017 |
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2016 |
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$ |
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$ |
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Product sales |
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8,008
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864
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Licensing revenue (Note 10) |
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16,250
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8,250
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Freight revenue |
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377
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111
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24,635
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9,225
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The Company recognizes licensing revenue on a pro-rated basis over the term of the Licensing Agreement (Note 10) and additional licensing fees as they are earned. During the period ended November 30, 2017, the Company recognized $6,250
of the pre-defined $50,000
Licensing fees previously received and $10,000
of additional Licensing fees. As of November 30, 2017, a total of $39,167
of the $50,000
previously received payments has been recognized as licensing revenue over the life of the contract.
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August 31 |
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August 31 |
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2017 |
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2016 |
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$ |
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$ |
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Product sales |
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16,866
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31,743
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Licensing revenue (Note 9) |
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45,809
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7,500
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Freight revenue |
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964
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1,149
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Other revenue |
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-
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326
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63,639
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40,718
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The Company recognizes licensing revenue on a pro-rated basis over the term of the Licensing Agreement (Note 9) and additional licensing fees as they are earned. As of August 31 2017 the company had received all of the pre-defined Licensing payments to August 31 2017 for cash receipts of $50,000
of Licensing fees and $20,392
of additional fees. During the year ended August 31, 2017, $25,417
of the $50,000
was included (2016 $7,500) on a pro-rated basis and $20,392
(2016 $NIL) of additional fees as licensing revenue.
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August 31 |
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August 31 |
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2016 |
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2015 |
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$ |
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$ |
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Product sales |
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31,743
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14,702
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Licensing revenue (Note 9) |
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7,500
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-
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Freight revenue |
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1,149
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-
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Other revenue |
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326
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-
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40,718
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14,702
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