RELATED PARTY TRANSACTIONS

12 Months Ended

Aug. 31, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 12 – RELATED PARTY TRANSACTIONS

On April 1, 2020, the Company acquired Lixoft. As part of that agreement the Company paid $6.7 million and issued stock with a value of $2.6 million to former shareholders of Lixoft, some who are currently employees of the Company. In addition, as part of the acquisition agreement the Company owes approximately $947 thousand of acquisition liabilities at August 31, 2021, to the former shareholders who are still employees of the Company. During the fiscal year 2021, under the terms of the agreement, the Company made payments totaling $2.0 million to the former shareholders of Lixoft comprised of two-thirds cash and one-third newly issued, unregistered shares of the Company’s common stock.