Quarterly report pursuant to Section 13 or 15(d)

Revenues

v3.21.2
Revenues
9 Months Ended
May 31, 2021
Revenues  
16. Revenues

16.

Revenues

 

May 31

2021

$

 

 

May 31

2020

$

 

Product sales

 

 

360,558

 

 

 

119,709

 

Licensing revenue

 

 

326,474

 

 

 

130,509

 

Freight revenue

 

 

100

 

 

 

586

 

Interest revenue

 

 

4,585

 

 

 

-

 

Income from continuing operations

 

 

691,717

 

 

 

250,804

 

 

 

During the nine months ended May 31, 2021, the Company recognized $317,884 of usage fees from continuing operations and $22,000 of loss from discontinued operations (May 2020 - $73,759 licensing and $56,750 usage fees).

 

Our intermediate product sales significantly increased with licensees ramping up their production and increasing their orders of our intermediate product. Intermediate products are typically a DehydraTECH enabled powder that companies can purchase to include in their products. 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. Interest revenue is derived from interest payments on the promissory note issued as a part of our subsidiary CanPharm’s sale of assets. (Note 22)