Organization, Business and Going Concern

The Company was formed on December 9, 2004 under the laws of the State of Nevada as an independent oil and gas company engaged in the exploration, development and acquisition of oil and gas properties in the United States and Canada. In March of 2014, the Company began its entry into the bioscience and alternative health and wellness business and discontinued its involvement in the oil and gas business in November 2014. In May 2016, the Company also commenced out-licensing its patented technology for improved delivery of bioactive compounds that promotes healthy ingestion methods, lower overall dosing and higher effectiveness in active molecule delivery. The Company has its office in Kelowna, BC, Canada.

The Company’s unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has a net loss attributable to its shareholders of $1,182,357 for the nine months ended May 31, 2017 (2016: $900,340) and at May 31, 2017 had a deficit accumulated since its inception of $12,483,019 (August 31, 2016: $11,300,662). The Company had a working capital balance of $3,039,278 as at May 31, 2017 with net cash used in operating activities of $1,192,574 during the nine months ended May 31, 2017.