Basis of Consolidation
|6 Months Ended|
Feb. 28, 2019
|Notes to Financial Statements|
|Basis of Consolidation||
These consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries; Lexaria CanPharm Corp., PoViva Corp., Lexaria Hemp Corp., and Lexaria Pharma Corp. On January 15, 2019, the Company announced the initial investment of $1,000,000 from Altria Ventures Inc., an indirect wholly owned subsidiary of Altria Group, Inc., for a 16.667% equity interest along with certain other rights in Lexaria Nicotine LLC. All significant intercompany balances and transactions have been eliminated.
The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef