Quarterly report pursuant to Section 13 or 15(d)

Revenues

v3.21.1
Revenues
 6 Months Ended
Feb. 28, 2021
Revenues [Abstract]  
Revenues

14.

Revenues

 

February 28

2021

$

 

 

February 29

2020

$

 

Product sales

 

 

 231,718

 

 

 

 99,191

 

Licensing revenue

 

 

 255,844

 

 

 

 —

 

Freight revenue

 

 

 100

 

 

 

 440

 

Income from continuing operations

 

 

 487,662

 

 

 

 99,631

 

 

During the six months ended February 28, 2021, the Company recognized $255,844 of usage fees from continuing operations. Revenues are significantly concentrated on one customer.

 

Our intermediate product sales significantly increased to $231,718 with licensees increasing their orders of our intermediate product. Intermediate products are typically a DehydraTECH enabled powder that companies can purchase to include in their products. Intermediate product sales and licensing revenue constituted the majority of our revenue. The licensing fees consist of intellectual property licensing fees for transfer of the Technology with the signing of definitive agreements for the DehydraTECH technology and usage fees.