Post-effective amendment to a registration statement that is not immediately effective upon filing

Revenues

v3.20.4
Revenues
 12 Months Ended
Aug. 31, 2020
Revenues [Abstract]  
Revenues

14.        Revenues

 

August 31

2020

$

 

 

August 31

2019

$

 

Product sales

 

 

 150,993

 

 

 

 24,282

 

Licensing revenue (Note 11)

 

 

 232,909

 

 

 

 198,000

 

Freight revenue

 

 

 641

 

 

 

 328

 

 

 

 

 384,543

 

 

 

 222,610

 

 

The Company recognized $232,909 of licensing revenue (2019 $198,000) and $150,993 of product revenues (2019 $24,282). Licensing revenue was significantly concentrated on one licensee and $121,906 of product revenues related to sales of our intermediate product for use by five customers in their products.

 

The licensing fees consist of IP licensing fees for transfer of the DehydraTECH technology with the signing of definitive agreements and usage fees. The licensing fees include payments due upon transfer of the technology and installment payments that are receivable within 12 months (Note 7).

 

As of August 31, 2020, we have $44,255 in deferred revenue from customers for production of intermediate products that are expected to be produced during our next fiscal quarter.