10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

(Amendment No. 1)

R ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended August 31, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 000-54598

Stellar Biotechnologies, Inc.

(Exact name of registrant as specified in its charter)

British Columbia, Canada	N/A
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
332 E. Scott Street Port Hueneme, California	93041
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (805) 488-2800

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act:

Common Shares, without par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.   Yes  ¨    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.   Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer  ¨	Accelerated Filer  x
Non-Accelerated Filer   ¨	Smaller Reporting Company  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  ¨    No  x

The aggregate market value of the voting and non-voting common shares held by non-affiliates of the registrant, computed by reference to the closing price of the registrant’s common shares on the OTCQB marketplace as of February 28, 2014, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $85,585,181, based on 57,827,825 shares at $1.48 per share.

As of November 1, 2014, the registrant had 79,121,650 common shares issued and outstanding.

Note: As of the last day of the registrant’s most recently completed second fiscal quarter, the registrant determined that it no longer qualified as a “foreign private issuer” under Rule 3b-4 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As of September 1, 2014, the beginning of the registrant’s fiscal year, the registrant is now complying with Exchange Act reporting requirements applicable to a U.S. domestic issuer.

Documents incorporated by reference: NONE

Explanatory Note

This Amendment No. 1 to the Annual Report on Form 10-K (the “Amendment No. 1”) of Stellar Biotechnologies, Inc. (the “Company”) amends the Company’s Annual Report on Form 10-K for the year ended August 31, 2014 (the “Original Filing”) which was filed with the Securities and Exchange Commission on November 14, 2014. The Company is filing this Amendment No. 1 solely to provide Exhibit 101 that was not included in the Original Filing.

Exhibit 101 to this Amendment No. 1 provides the following materials from the Original Filing formatted in XBRL (eXtensible Business Reporting Language) with detailed footnote tagging: (i) consolidated balance sheets, (ii) consolidated statements of operations, (iii) consolidated statements of cash flows, (iv) consolidated statements of changes in equity and (v) notes to financial statements. This Amendment No. 1 is an exhibit-only filing.

The Company is filing Exhibit 101 in accordance with the temporary hardship exemption provided by Rule 201 of Regulation S-T, which extended the date by which the Interactive Data File is required to be submitted by six business days.

Except as described above, this Amendment No. 1 does not amend any other information set forth in the Original Filing, and the Company has not updated disclosures included therein to reflect any events that occurred subsequent to November 14, 2014.

Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, and are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, and otherwise are not subject to liability under these sections.

PART IV

Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

(b) Exhibits

The exhibits listed on the accompanying Exhibit Index are filed as part of this Amendment No. 1

EXHIBIT INDEX

Exhibit No.	Description
3.1	Certificate of Incorporation of the Company, dated June 12, 2007 (included as Exhibit 1(a) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

3.2 Certificate of Amendment, dated April 15, 2008 (included as Exhibit 1(b) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

3.3 Certificate of Continuation of the Company, dated November 25, 2009 (included as Exhibit 1(c) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

3.4 Certificate of Name Change of the Company, dated April 7, 2010 (included as Exhibit 1(f) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

3.5 Notice of Articles of the Company, dated April 7, 2010 (included as Exhibit 1(g) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

3.6 Articles of the Company, effective November 20, 2009 (included as Exhibit 1(h) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.1 Patent Assignment Agreement between the Company and Frank Oakes, dated August 14, 2002 (included as Exhibit 4(a) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.2 Sublease Agreement between the Company and the Port Hueneme Surplus Property Authority, dated October 2, 2000 (included as Exhibit 4(j) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.3 Sublease Agreement between the Company and the Port Hueneme Surplus Property Authority, dated March 21, 2005 (included as Exhibit 4(k) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.4 Lease Agreement between the Company and Beachport Center, dated March 29, 2011 (included as Exhibit 4(l) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.5 Supply Agreement between the Company and Neovacs S.A. for subunit KLH, effective January 1, 2008 (included as Exhibit 4(14) to the Company’s Amendment No. 2 to its Registration Statement on Form 20-F filed on July 5, 2012, and incorporated herein by reference).

10.6 Supply Agreement between the Company and Neovacs S.A. for KLH raw material, effective January 1, 2008 (included as Exhibit 4(15) to the Company’s Amendment No. 2 to its Registration Statement on Form 20-F filed on July 5, 2012, and incorporated herein by reference).

10.7 Research Collaboration Agreement between the Company and Bayer Innovation GmbH, dated August 27, 2009 (included as Exhibit 4(16) to the Company’s Amendment No. 2 to its Registration Statement on Form 20-F filed on July 5, 2012, and incorporated herein by reference).

10.8 Agreement between the Company and Life Diagnostics, effective October 18, 2011 (included as Exhibit 4(18) to the Company’s Amendment No. 2 to its Registration Statement on Form 20-F filed on July 5, 2012, and incorporated herein by reference).

10.9# License Agreement between the Company and University of Guelph, dated July 24, 2013 (included as Exhibit 99.1 to the Company’s Report on Form 6-K filed on AuHgust 30, 2013, and incorporated herein by reference).

10.10 Share Option Plan, as Amended, dated December 13, 2011 (included as Exhibit 10(b) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.11 Fixed Share Option Plan dated December 18, 2013 (included as Exhibit 10.11 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

10.12 Shareholder’s Rights Plan, As Amended, dated January 9, 2014 (included as Exhibit 10.12 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

10.13@ Performance Share Plan dated April 9, 2010 (included as Exhibit 10(d) to the Company’s Registration Statement on Form 20-F filed on February 3, 2012, and incorporated herein by reference).

10.14 Advance Notice Policy, adopted October 31, 2013 (included as Exhibit 10.14 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

10.15 Amendment One to Lease Agreement between the Company and Beachport Center, dated June 24, 2014 (included as Exhibit 10.15 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

10.16 Sublease Amendment No. 2 to Sublease Agreement between the Company and the Port Hueneme Surplus Property Authority, dated October 2, 2000 ((included as Exhibit 10.16 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

10.17 Sublease Amendment No. 1 to Sublease Agreement between the Company and the Port Hueneme Surplus Property Authority, dated March 21, 2005 (included as Exhibit 10.17 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

14.1 Code of Ethics and Business Conduct (included as Exhibit 99.4 to the Company’s Report on Form 6-K filed on August 14, 2014, and incorporated herein by reference).

21 Subsidiaries of Stellar Biotechnologies, Inc. (included as Exhibit 21 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

31.1 Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities and Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (included as Exhibit 31.1 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

31.2 Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities and Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (included as Exhibit 31.2 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

32.1 Certification of the Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (included as Exhibit 32.1 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

32.2 Certification of the Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (included as Exhibit 32.2 to the Company’s Annual Report on Form 10-K filed on November 14, 2014, and incorporated herein by reference).

101.INS XBRL Instance Document (filed herewith).

101.SCH XBRL Taxonomy Extension Schema Document (filed herewith).

101.CAL XBRL Taxonomy Calculation Linkbase Document (filed herewith).

101.DEF XBRL Taxonomy Extension Definition Linkbase Document (filed herewith).

101.LAB XBRL Taxonomy Label Linkbase Document (filed herewith).

101.PRE XBRL Taxonomy Presentation Linkbase Document (filed herewith).

@ Management contract or compensatory plan or arrangement.

# Confidential treatment has been granted for certain portions of this exhibit. Original copies have been filed separately with the Securities and Exchange Commission pursuant to Rule 24B-2 of the Securities Exchange Act of 1934, as amended.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November 21, 2014	STELLAR BIOTECHNOLOGIES, INC.
	/s/ Frank R. Oakes
	Frank R. Oakes President and Chief Executive Officer (Principal Executive Officer)

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Share Capital (Details 3) (Broker units [Member], CAD)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Number Of Non-employee Units Outstanding
Number of units, Beginning Balance	596,200	345,600
Number of units, Granted		599,200
Number of units, Exercised	(45,000)	(3,000)
Number of units, Expired		(345,600)
Number of units, Ending Balance	551,200	596,200
Canada, Dollars
Number Of Non-employee Units Outstanding
Weighted average exercise price, Beginning Balance	0.29	0.60
Weighted average exercise price, Granted		0.29
Weighted average exercise price, Exercised	0.33	0.50
Weighted average exercise price, Expired		0.60
Weighted average exercise price, Ending Balance	0.29	0.29

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Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details 1) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
License Agreement [Member]
Noncash Financing And Investing Activities [Line Items]
Warrant Valuations	$ 0	$ 195,014	$ 0
Stock Issued	0	491,408	0
Private Placement [Member]
Noncash Financing And Investing Activities [Line Items]
Warrant Valuations	0	1,749,004	0
Performance Shares [Member]
Noncash Financing And Investing Activities [Line Items]
Transfer To Share Capital	422,728	0	366,363
Employee Stock Option [Member]
Noncash Financing And Investing Activities [Line Items]
Transfer To Share Capital	489,136	54,325	41,087
Broker Units and Warrants [Member]
Noncash Financing And Investing Activities [Line Items]
Share issuance costs - broker units and warrants	386,898	150,894	0
Warrant [Member]
Noncash Financing And Investing Activities [Line Items]
Transfer To Share Capital	6,591,546	2,139,409	190,425
Share Subscribed [Member]
Noncash Financing And Investing Activities [Line Items]
Transfer To Share Capital	$ 5,155,674	$ 0	$ 0

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Income Taxes (Details) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
U.S.	$ (4,183,392)	$ (2,082,441)	$ (3,773,748)
Canadian	(4,096,931)	(12,412,538)	(1,754,730)
Other foreign	(132,000)	0	0
Total Loss Before Income Tax	$ (8,412,323)	$ (14,494,979)	$ (5,528,478)

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Concentrations of Credit Risk (Details Textual)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Accounts Receivable [Member]
Unusual Risk or Uncertainty [Line Items]
Concentration Risk, Percentage	76.00%	88.00%
Product Concentration Risk [Member]
Unusual Risk or Uncertainty [Line Items]
Concentration Risk, Percentage	73.00%	73.00%	90.00%

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Related Party Disclosures (Details Textual) (USD $)	Aug. 14, 2002	Dec. 31, 2013 Taiwan biopharmaceuticals [Member]
Related Party Transaction [Line Items]
Royalty Percentage	5.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		5.00%
Gross Receipt Base Amount for Royalty Calculation	$ 500,000

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Intangible Assets - Licensing Rights (Details Textual) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2011
Licensing Rights [Line Items]
Intangible Licensing Rights Paid				$ 200,000
Finite-Lived Intangible Asset, Useful Life	7 years
Amortization of Intangible Assets	26,191	28,571	28,572
Impairment of Intangible Assets, Finite-lived	90,476	0	0
General and Administrative Expense [Member]
Licensing Rights [Line Items]
Impairment of Intangible Assets, Finite-lived	90,476
Licensing Rights [Member]
Licensing Rights [Line Items]
Finite-Lived License Agreements, Gross		200,000
Finite-Lived Intangible Assets, Accumulated Amortization		$ 83,333

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Share Capital (Tables)

12 Months Ended

Aug. 31, 2014

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

A summary of the Company’s warrants activity is as follows:

	Number of Warrants		Weighted Average Exercise Price
Balance - August 31, 2012		7,713,000	$	1.02	CDN $
Granted		7,908,300		0.50	CDN $
Exercised		(2,735,000)		0.57	CDN $
Expired		(1,560,000)		0.53	CDN $
Balance - August 31, 2013		11,326,300	$	0.57	CDN $
Granted		38,100		0.46	CDN $
Granted		6,047,612		1.33
Exercised		(5,832,300)		0.68	CDN $
Exercised		(60,000)		1.35
Balance - August 31, 2014		11,519,712	$	0.97	CDN $

Schedule of Stockholders' Equity Note, Warrants By Exercise Price Range [Table Text Block]

The following table summarizes information about the warrants outstanding at August 31, 2014:

Exercise Price	Number of Warrants	Expiry Date
CDN$0.75	975,300	October 2, 2014
CDN$1.25	278,400	January 23, 2015
CDN$0.40	4,000,000	October 25, 2015
CDN$0.40	278,400	January 4, 2016
$1.35	4,701,902	September 9, 2016
$1.05	200,000	September 9, 2016	Broker warrants
$1.35	952,377	September 20, 2016
$1.05	133,333	September 20, 2016	Broker warrants
	11,519,712

Employee Stock Option [Member]

Equity [Abstract]

Schedule of Share-based Compensation, Activity [Table Text Block]

Options have been issued under the Plan allowing the holders to purchase common shares of the Company as follows:

	Number of Options		Weighted Average Exercise Price
Balance - August 31, 2012		5,789,200	$	0.42	CDN $
Granted		1,200,000		0.43	CDN $
Exercised		(164,999)		0.45	CDN $
Expired		(40,000)		0.70	CDN $
Forfeited		(195,333)		0.45	CDN $
Balance - August 31, 2013		6,588,868	$	0.42	CDN $
Granted		195,000		1.42	CDN $
Granted		595,000		1.83
Exercised		(1,441,668)		0.41	CDN $
Expired		(1,667)		0.42	CDN $
Balance - August 31, 2014		5,935,533	$	0.61	CDN $

Schedule of Share-based Compensation, by Exercise Price Range [Table Text Block]

The following table summarizes information about the options under the Plan outstanding and exercisable at August 31, 2014:

Exercise Price	Number of Options	Exercisable at August 31, 2014	Expiry Date
CDN$0.25	125,000	125,000	October 23, 2015
CDN$0.28	1,645,000	1,645,000	April 9, 2017
CDN$0.25	55,000	55,000	May 17, 2017
CDN$0.28	20,000	20,000	June 28, 2017
CDN$0.28	70,000	70,000	July 13, 2017
CDN$0.64	70,000	70,000	October 25, 2017
CDN$1.00	60,000	60,000	February 10, 2018
CDN$0.65	848,600	848,600	August 8, 2018
CDN$0.50	5,000	5,000	September 26, 2018
CDN$1.87	100,000	33,333	November 7, 2018
CDN$0.40	70,000	70,000	December 22, 2018
CDN$0.42	853,600	853,600	April 13, 2019
CDN$0.29	90,000	90,000	June 18, 2019
CDN$0.37	150,000	150,000	August 9, 2019
CDN$0.37	150,000	150,000	August 16, 2019
CDN$0.25	58,333	58,333	October 23, 2019
CDN$0.25	215,000	215,000	December 19, 2019
CDN$0.58	560,000	373,333	May 14, 2020
CDN$0.58	100,000	66,667	May 23, 2020
$1.83	495,000	165,000	November 1, 2020
$1.84	100,000	33,333	November 15, 2020
CDN$0.94	95,000	31,667	June 27, 2021
	5,935,533	5,188,866

Schedule of Share-based Payment Award, Valuation Assumptions [Table Text Block]

 

The estimated fair value of the stock options granted during the years ended August 31, 2014, 2013 and 2012 was determined using a Black-Scholes option valuation model with the following weighted average assumptions:

	2014			2013			2012
Risk free interest rate		2.01	%		1.55	%		1.63	%
Expected life (years)		6.75			6.17			7.00
Expected share price volitility		120	%		123	%		147	%
Expected dividend yield		0	%		0	%		0	%

Broker units [Member]

Equity [Abstract]

Schedule of Share-based Compensation, Activity [Table Text Block]

A summary of broker units activity is as follows:

	Number of Units		Weighted Average Exercise Price
Balance - August 31, 2012		345,600	$	0.60	CDN $
Granted		599,200		0.29	CDN $
Exercised		(3,000)		0.50	CDN $
Expired		(345,600)		0.60	CDN $
Balance - August 31, 2013		596,200	$	0.29	CDN $
Exercised		(45,000)		0.33	CDN $
Balance - August 31, 2014		551,200	$	0.29	CDN $

Schedule of Share-based Compensation, by Exercise Price Range [Table Text Block]

The following table summarizes information about the broker units outstanding at August 31, 2014:

Exercise Price	Number of Units	Expiry Date
CDN$0.50	85,200	October 2, 2014
CDN$0.25	400,000	October 25, 2015
CDN$0.25	66,000	January 4, 2016
	551,200

Schedule of Share-based Payment Award, Valuation Assumptions [Table Text Block]

The estimated fair value of the broker units granted during the year ended August 31, 2013 was determined using a Black-Scholes option valuation model with the following weighted average assumptions:

	2013
Risk free interest rate		1.17	%
Expected life (years)		2.83
Expected share price volitility		123	%
Expected dividend yield		0	%

Warrants Exercised [Member]

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants, Valuation Assumptions [Table Text Block]

The fair value of warrants exercised during the years ended August 31, 2014, 2013 and 2012 was determined using the Black-Scholes option valuation model, using the following weighted average assumptions:

	2014			2013			2012
Risk free interest rate		1.07	%		1.23	%		2.49	%
Expected life (years)		0.27			1.17			0.11
Expected share price volitility		106	%		111	%		110	%

Warrants Granted [Member]

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants, Valuation Assumptions [Table Text Block]

There were no warrants granted during the year ended August 31, 2012. The fair value of warrants granted during the years ended August 31, 2014 and 2013 was determined using the Black-Scholes option valuation model, using the following weighted average assumptions at the date of the grant:

	2014			2013
Risk free interest rate		1.48	%		1.18	%
Expected life (years)		3.00			2.76
Expected share price volitility		112	%		123	%
Expected dividend yield		0	%		0	%

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Income Taxes (Details 2) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Effective Income Tax Rate Reconciliation [Line Items]
Combined Canadian federal and provincial tax rates	26.00%	25.00%	28.50%
Expected income tax (recovery)/expense	$ (2,187,200)	$ (3,623,700)	$ (1,575,600)
Nondeductible share-based payments	248,700	327,000	549,900
Nondeductible change in fair value of warrant liability	659,300	2,807,300	(246,100)
Effect of higher income tax rate in US	(602,100)	(308,400)	(426,700)
Foreign currency differences	(50,900)	(26,300)	9,000
Other	(219,800)	(322,500)	(137,300)
Change in valuation allowance on deferred tax assets	2,179,200	1,147,400	1,827,600
Income tax expense	$ 27,200	$ 800	$ 800

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Share Capital (Details 6) (Employee Stock Option [Member])	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2014 Canada, Dollars CAD	Aug. 31, 2013 Canada, Dollars CAD	Aug. 31, 2014 United States of America, Dollars USD ($)
Schedule Of Share Based Compensation Stock Options Activity [Line Items]
Number of Options, Beginning Balance	6,588,868	5,789,200
Number of Options, Granted	195,000	1,200,000			595,000
Number of Options, Exercised	(1,441,668)	(164,999)
Number of Options, Expired	(1,667)	(40,000)
Number of Options, Forfeited		(195,333)
Number of Options, Ending Balance	5,935,533	6,588,868
Weighted Average Exercise Price, Beginning Balance			0.42	0.42
Weighted Average Exercise Price, Granted			1.42	0.43	$ 1.83
Weighted Average Exercise Price, Exercised			0.41	0.45
Weighted Average Exercise Price, Expired			0.42	0.70
Weighted Average Exercise Price, Forfeited				0.45
Weighted Average Exercise Price, Ending Balance			0.61	0.42

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Share Capital (Details 1)	Aug. 31, 2014	Aug. 31, 2014 October 2, 2014 [Member]	Aug. 31, 2014 January 23, 2015 [Member]	Aug. 31, 2014 October 25, 2015 [Member]	Aug. 31, 2014 January 4, 2016 [Member]	Aug. 31, 2014 September 9, 2016 [Member] USD ($)	Aug. 31, 2014 September 20, 2016 [Member] USD ($)	Aug. 31, 2014 Canada, Dollars CAD	Aug. 31, 2013 Canada, Dollars CAD	Aug. 31, 2012 Canada, Dollars CAD	Aug. 31, 2014 Canada, Dollars October 2, 2014 [Member] CAD	Aug. 31, 2014 Canada, Dollars January 23, 2015 [Member] CAD	Aug. 31, 2014 Canada, Dollars October 25, 2015 [Member] CAD	Aug. 31, 2014 Canada, Dollars January 4, 2016 [Member] CAD	Aug. 31, 2014 Broker warrants [Member] September 9, 2016 [Member] USD ($)	Aug. 31, 2014 Broker warrants [Member] September 20, 2016 [Member] USD ($)
Class of Warrant or Right [Line Items]
Exercise Price						$ 1.35	$ 1.35	0.97	0.57	1.02	0.75	1.25	0.40	0.40	$ 1.05	$ 1.05
Number of Warrants	11,519,712	975,300	278,400	4,000,000	278,400	4,701,902	952,377	11,519,712	11,326,300	7,713,000					200,000	133,333

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Income Taxes (Details Textual) (USD $)	12 Months Ended
	Aug. 31, 2014
Federal [Member]
Income Tax [Line Items]
Operating Loss Carryforwards	$ 13,137,000
Operating Loss Carryforwards Expiration Period	expiring in 2030 and continue expiring through 2034
Tax Credit Carryforward Expiration Period	expiring in 2024 and continue expiring through 2034.
Federal [Member] | Research Tax Credit Carryforward [Member]
Income Tax [Line Items]
Tax Credit Carryforward, Amount	290,000
California [Member]
Income Tax [Line Items]
Operating Loss Carryforwards	13,068,000
Operating Loss Carryforwards Expiration Period	expiring in 2015 and continue expiring through 2034
California [Member] | Research Tax Credit Carryforward [Member]
Income Tax [Line Items]
Tax Credit Carryforward, Amount	$ 326,000

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Loss Recovery (Details Textual) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Financing Receivable, Allowance for Credit Losses [Line Items]
Other Nonrecurring Income	$ 0	$ 0	$ 105,000

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Significant Accounting Policies

12 Months Ended

Aug. 31, 2014

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

3. Significant Accounting Policies

a) Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reported periods. These estimates include warrant liability, share-based compensation, intangible assets, valuation of accounts receivable, and income taxes. Actual outcomes could differ from these estimates. These consolidated financial statements include estimates, which by their nature are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future periods if the revision affects both current and future periods. These estimates are based on historical experience, current and future economic conditions and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

b) Cash and Cash Equivalents

Cash and cash equivalents consist of demand deposits with financial institutions and highly liquid investments which are readily convertible into cash with maturities of three months or less when purchased.

c) Investments

Investments include Canadian enhanced yield deposits with original maturity of 180 days. Investments are classified as held-to-maturity and are reported at amortized cost, which approximates fair value. The Company regularly reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is determined to be other than temporary, the cost basis of the investment is written down to fair value.

d) Allowance for Doubtful Accounts Receivable

The Company assesses the collectability of its accounts receivable through a review of its current aging, as well as an analysis of its historical collection rate, general economic conditions and credit status of its customers.  As of August 31, 2014 and 2013, all outstanding accounts receivable were deemed to be fully collectible, and therefore, no allowance for doubtful accounts was recorded.

e) Property, Plant and Equipment

Property, plant and equipment are recorded at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recorded on the straight-line method over useful lives ranging from 5 to 10 years. Leasehold improvements are depreciated over the shorter of the useful life of the improvement or remaining term of lease. Maintenance and repairs are charged to operations as incurred.

f) Impairment of Long-Lived Assets

If indicators of impairment exist, the Company assesses the recoverability of the affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows. If impairment is indicated, the amount of such impairment is measured by comparing the carrying value of the asset to the fair value of the asset and the Company records the impairment as a reduction in the carrying value of the related asset and a charge to operating results. Estimating the undiscounted future cash flows associated with long-lived assets requires judgment, and assumptions could differ materially from actual results. See Note 6 for impairment of licensing rights.

   

g) Fair Value of Financial Instruments

The Company uses the fair value measurement framework for valuing financial assets and liabilities measured on a recurring basis in situations where other accounting pronouncements either permit or require fair value measurements.

Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As of August 31, 2014 and 2013, the carrying value of certain financial instruments such as accounts receivable, accounts payable, accrued liabilities, and deferred revenue approximates fair value due to the short-term nature of such instruments.

The Company follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices in active markets for identical or similar assets and liabilities.

Level 2: Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.

Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company records its cash and cash equivalents at fair value using Level 1 inputs in the fair value hierarchy. The Company records its warrant liability at fair value using Level 2 input using the assumptions disclosed in Note 8.

h) Revenue Recognition

Contract services revenue

The Company recognizes contract services revenue when contract services have been performed and reasonable assurance exists regarding measurement and collectability. An appropriate amount will be recognized as revenue in the period that the Company is assured of fulfilling the contract requirements. Amounts received in advance of performance of contract services are recorded as deferred revenue.

Contract services include services performed under collaboration agreements and monthly maintenance of limpet colonies designated to meet the needs of the customer. The Company also has the right to use raw material produced from designated limpet colonies at no cost to the Company with prior written consent from the customer.

Product Sales

The Company recognizes product sales when KLH product is shipped (for which the risk is typically transferred upon delivery to the shipping carrier) and there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collectability is reasonably assured. The Company documents arrangements with customers with purchase orders and sales agreements.

 

Product sales include sales made under supply agreements with a customer for a fixed price per gram of KLH products based on quantities ordered, including those produced from the customer’s designated limpet colonies. The supply agreements are on a non-exclusive basis except within that customer’s field of use.

Grants

The Company has taken the income approach to recognizing grant revenue. The Company recognizes grant revenue when there is reasonable assurance that the Company will comply with the conditions attached, the benefits have been earned and it is reasonably assured of collection. An appropriate amount of earned revenue will be recognized as revenue in the period that the Company is assured of fulfilling the grant requirements.

i) Research and Development

Research and development costs are expensed as incurred.

j) Equity Financing

The Company engages in equity financing transactions to obtain the funds necessary to continue operations and perform research and development activities. These equity financing transactions may involve issuance of common shares or units. Units typically comprise a certain number of common shares and share purchase warrants. Depending on the terms and conditions of each equity financing transaction, the warrants are exercisable into additional common shares at a price prior to expiry as stipulated by the terms of the transaction.

k) Share-Based Compensation

The Company grants options to buy common shares of the Company to its directors, officers, employees and consultants, and grants other equity-based instruments to non-employees.

The fair value of share-based compensation is measured on the date of grant, using the Black-Scholes option valuation model and is recognized over the vesting period net of estimated forfeitures for employees or the service period for non-employees. The Black-Scholes option valuation model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend yield, and expected life of the option.

l) Foreign Exchange

Items included in the financial statements of the Company’s subsidiary are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the parent and its subsidiary is the U.S. dollar.

Transactions in currencies other than the U.S. dollar are recorded at exchange rates prevailing on the dates of the transactions.

m) Income Taxes

Income tax expense comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax expense is the expected tax payable on taxable income for the year, using tax rates enacted or substantively enacted at year-end, adjusted for amendments to tax payable with regards to previous years.

Deferred tax is recorded using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for relating to goodwill not deductible for tax purposes. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date.

A deferred tax asset is recognized only to the extent that it is more likely than not that future taxable profits will be available against which the asset can be utilized. To the extent that the Company does not consider it more likely than not that a deferred tax asset will be recovered, it provides a valuation allowance against that excess.

The Company periodically evaluates its tax positions to determine whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities. The Company has not incurred any interest or penalties as of August 31, 2014 with respect to uncertain income tax matters. The Company does not expect that there will be unrecognized tax benefits of a significant nature that will increase or decrease within 12 months of the reporting date.

The Company files income tax returns in the U.S. federal, Canadian and state jurisdictions. Management believes that there are no material uncertain tax positions that would impact the accompanying consolidated financial statements. The Company's policy is to recognize interest and penalties related to unrecognized tax benefits in income tax expense. The Company may be subject to examination by the Internal Revenue Service for tax years 2010 through 2013 and by the Canada Revenue Agency for tax years 2010 through 2014. The Company may also be subject to examination on certain state and local jurisdictions for the tax years 2009 through 2013.

n) Loss Per Share

Basic earnings (loss) per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period.

The computation of diluted loss per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on loss per share. The dilutive effect of convertible securities is reflected in diluted earnings per share by application of the “if converted” method. The dilutive effect of outstanding options and warrants and their equivalents is reflected in diluted earnings per share by application of the treasury stock method. Conversion of outstanding warrants, broker units and options would have an antidilutive effect on loss per share for the years ended August 31, 2014, 2013 and 2012, and are therefore excluded from the computation of diluted loss per share.

o) Segments

The Company operates in one reportable segment and, accordingly, no segment disclosures have been presented. All equipment, leasehold improvements and other fixed assets owned by the Company are physically located within the United States, and all supply, collaboration and licensing agreements are denominated in U.S. dollars.

p) Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 creates a new topic in the ASC Topic 606 and establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics, and expands and improves disclosures about revenue. In addition, ASU 2014-09 adds a new Subtopic to the Codification, ASC 340-40, Other Assets and Deferred Costs: Contracts with Customers, to provide guidance on costs related to obtaining a contract with a customer and costs incurred in fulfilling a contract with a customer that are not in the scope of another ASC Topic. The guidance in ASU 2014-09 is effective for public entities for annual reporting periods beginning after December 15, 2016, including interim periods therein. Early application is not permitted. Management is in the process of assessing the impact of ASU 2014-09 on the Company’s financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The guidance in ASU 2014-15 is effective for annual reporting periods beginning after December 15, 2016, with early application permitted. Management is in the process of assessing the impact of ASU 2014-15 on the Company’s financial statements.

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Share Capital (Details 7)	Aug. 31, 2014	Aug. 31, 2014 May 17, 2017 [Member]	Aug. 31, 2014 May 17, 2017 [Member] Canada, Dollars CAD	Aug. 31, 2014 June 28, 2017 [Member]	Aug. 31, 2014 June 28, 2017 [Member] Canada, Dollars CAD	Aug. 31, 2014 July 13, 2017 [Member]	Aug. 31, 2014 July 13, 2017 [Member] Canada, Dollars CAD	Aug. 31, 2014 October 25, 2017 [Member]	Aug. 31, 2014 October 25, 2017 [Member] Canada, Dollars CAD	Aug. 31, 2014 February 10, 2018 [Member]	Aug. 31, 2014 February 10, 2018 [Member] Canada, Dollars CAD	Aug. 31, 2014 August 8, 2018 [Member]	Aug. 31, 2014 August 8, 2018 [Member] Canada, Dollars CAD	Aug. 31, 2014 September 26, 2018 [Member]	Aug. 31, 2014 September 26, 2018 [Member] Canada, Dollars CAD	Aug. 31, 2014 November 7, 2018 [Member]	Aug. 31, 2014 November 7, 2018 [Member] Canada, Dollars CAD	Aug. 31, 2014 December 22, 2018 [Member]	Aug. 31, 2014 December 22, 2018 [Member] Canada, Dollars CAD	Aug. 31, 2014 April 13, 2019 [Member]	Aug. 31, 2014 April 13, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 June 18, 2019 [Member]	Aug. 31, 2014 June 18, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 August 9, 2019 [Member]	Aug. 31, 2014 August 9, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 August 16, 2019 [Member]	Aug. 31, 2014 August 16, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 October 23, 2019 [Member]	Aug. 31, 2014 October 23, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 December 19, 2019 [Member]	Aug. 31, 2014 December 19, 2019 [Member] Canada, Dollars CAD	Aug. 31, 2014 May 14, 2020 [Member]	Aug. 31, 2014 May 14, 2020 [Member] Canada, Dollars CAD	Aug. 31, 2014 May 23, 2020 [Member]	Aug. 31, 2014 May 23, 2020 [Member] Canada, Dollars CAD	Aug. 31, 2014 November 1, 2020 [Member] USD ($)	Aug. 31, 2014 November 15, 2020 [Member] USD ($)	Aug. 31, 2014 June 27, 2021 [Member]	Aug. 31, 2014 June 27, 2021 [Member] Canada, Dollars CAD	Aug. 31, 2014 October 23, 2015 [Member]	Aug. 31, 2014 October 23, 2015 [Member] Canada, Dollars CAD	Aug. 31, 2014 April 9, 2017 [Member]	Aug. 31, 2014 April 9, 2017 [Member] Canada, Dollars CAD
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price			0.25		0.28		0.28		0.64		1.00		0.65		0.50		1.87		0.40		0.42		0.29		0.37		0.37		0.25		0.25		0.58		0.58	$ 1.83	$ 1.84		0.94		0.25		0.28
Number of Options	5,935,533	55,000		20,000		70,000		70,000		60,000		848,600		5,000		100,000		70,000		853,600		90,000		150,000		150,000		58,333		215,000		560,000		100,000		495,000	100,000	95,000		125,000		1,645,000
Exercisable	5,188,866	55,000		20,000		70,000		70,000		60,000		848,600		5,000		33,333		70,000		853,600		90,000		150,000		150,000		58,333		215,000		373,333		66,667		165,000	33,333	31,667		125,000		1,645,000

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Significant Accounting Policies (Details Textual)	12 Months Ended
	Aug. 31, 2014
Minimum [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Maximum [Member]
Significant Accounting Policies Disclosure [Line Items]
Property, Plant and Equipment, Useful Life	10 years

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Nature of Operations and Going Concern (Details Textual) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Nature of Operations and Going Concern Disclosure [Line Items]
Net loss	$ (8,439,523)	$ (14,495,779)	$ (5,529,278)
Retained Earnings (Accumulated Deficit)	(33,620,190)	(25,180,667)
Working Capital	12,700,000
Common Shares [Member]
Nature of Operations and Going Concern Disclosure [Line Items]
Net loss	0	0	0
Proceeds from Issuance of Common Stock		$ 12,000,000

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Subsequent Events (Details Textual)	12 Months Ended			2 Months Ended
	Aug. 31, 2014 USD ($)	Aug. 31, 2013 USD ($)	Aug. 31, 2012 USD ($)	Nov. 01, 2014 Subsequent Event [Member] CAD
Subsequent Event [Line Items]
Warrants Exercised				1,102,800
Proceeds from Warrant Exercises	$ 4,308,878	$ 1,582,739	$ 877,210	805,800
Stock Issued During Period Shares Upon Warrant Exercise				1,152,800
Proceeds from Stock Options Exercised				12,500
Stock Issued During Period Shares Upon Option Exercise				50,000

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Share Capital (Details 8) (Employee Stock Option [Member])	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Employee Stock Option [Member]
Risk free interest rate	2.01%	1.55%	1.63%
Expected life (years)	6 years 9 months	6 years 2 months 1 day	7 years
Expected share price volitility	120.00%	123.00%	147.00%
Expected dividend yield	0.00%	0.00%	0.00%

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Accounts Receivable (Details) (USD $)	Aug. 31, 2014	Aug. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 55,713	$ 17,648
Grants receivable	0	157,297
Other receivable	862	2,775
Receivables, Net	$ 56,575	$ 177,720

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Property, Plant and Equipment, net (Details) (USD $)	Aug. 31, 2014	Aug. 31, 2013
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 893,126	$ 641,267
Less: accumulated depreciation	(505,734)	(394,998)
Property, Plant and Equipment, net	387,392	246,269
Aquaculture system [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	58,923	58,923
Laboratory facilities [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	62,033	62,033
Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	77,697	56,710
Tools and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	622,289	393,497
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	10,997	10,997
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 61,187	$ 59,107

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Basis of Presentation

12 Months Ended

Aug. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business Description and Basis of Presentation [Text Block]

2. Basis of Presentation

The accompanying financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly-owned subsidiary, Stellar Biotechnologies, Inc. Intercompany balances and transactions are eliminated on consolidation.

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Property, Plant and Equipment, net (Details Textual) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 132,122	$ 96,262	$ 83,572

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Share Capital (Details 4) (Broker units [Member], CAD)					12 Months Ended		12 Months Ended		12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2014 Broker Units Expiry Date October 2, 2014 [Member]	Aug. 31, 2014 Broker Units Expiry Date October 2, 2014 [Member] Canada, Dollars	Aug. 31, 2014 Broker Units Expiry Date October 25, 2015 [Member]	Aug. 31, 2014 Broker Units Expiry Date October 25, 2015 [Member] Canada, Dollars	Aug. 31, 2014 Broker Units Expiry Date January 4, 2016 [Member]	Aug. 31, 2014 Broker Units Expiry Date January 4, 2016 [Member] Canada, Dollars
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units	551,200	596,200	345,600	85,200		400,000		66,000
Exercise Price					0.50		0.25		0.25

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Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Details) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Cash Flow Supplemental Disclosures [Line Items]
Cash paid during the period for taxes	$ 30,200	$ 800	$ 800
Cash paid during the period for interest	$ 0	$ 0	$ 0

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Consolidated Balance Sheets (USD $)	Aug. 31, 2014	Aug. 31, 2013
Current assets:
Cash and cash equivalents	$ 13,427,404	$ 7,859,889
Accounts receivable	56,575	177,720
Short-term investments	458,098	0
Deferred financing costs	0	62,027
Prepaid expenses	128,593	34,886
Total current assets	14,070,670	8,134,522
Noncurrent assets:
Property, plant and equipment, net	387,392	246,269
Licensing rights	0	116,667
Deposits	15,900	15,900
Total noncurrent assets	403,292	378,836
Total Assets	14,473,962	8,513,358
Current liabilities:
Accounts payable and accrued liabilities	526,626	419,413
Deferred revenue	15,000	0
Warrant liability, current portion	879,040	3,454,745
Total current liabilities	1,420,666	3,874,158
Long-term liabilities:
Warrant liability, less current portion	5,352,663	6,835,199
Total Liabilities	6,773,329	10,709,357
Commitments (Note 7)
Shareholders' equity (deficit):
Common shares, unlimited common shares authorized, no par value, 78,268,850 and 57,946,160 issued and outstanding at August 31, 2014 and 2013, respectively	36,240,838	13,180,677
Shares subscribed	0	5,155,674
Accumulated share-based compensation	5,079,985	4,648,317
Accumulated deficit	(33,620,190)	(25,180,667)
Total shareholders' equity (deficit)	7,700,633	(2,195,999)
Total Liabilities and Shareholders' Equity (Deficit)	$ 14,473,962	$ 8,513,358

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Share Capital (Details Textual)	12 Months Ended													12 Months Ended								12 Months Ended			12 Months Ended																													12 Months Ended
	Aug. 31, 2014 USD ($)	Aug. 31, 2013 USD ($)	Aug. 31, 2012 USD ($)	Aug. 31, 2014 CAD	Aug. 31, 2013 CAD	Aug. 31, 2012 CAD	Aug. 31, 2014 Canada, Dollars CAD	Aug. 31, 2013 Canada, Dollars CAD	Aug. 31, 2012 Canada, Dollars CAD	Aug. 31, 2014 October 25, 2015 [Member] Canada, Dollars CAD	Aug. 31, 2014 January 4, 2016 [Member] Canada, Dollars CAD	Aug. 31, 2014 October 2, 2014 [Member] Canada, Dollars CAD	Aug. 31, 2014 January 23, 2015 [Member] Canada, Dollars CAD	Aug. 31, 2014 Common Stock [Member] USD ($)	Aug. 31, 2013 Common Stock [Member] USD ($)	Aug. 31, 2012 Common Stock [Member] USD ($)	Aug. 31, 2014 Common Stock [Member] Performance Shares [Member] USD ($)	Aug. 31, 2012 Common Stock [Member] Performance Shares [Member] USD ($)	Aug. 31, 2011 Common Stock [Member] Performance Shares [Member] USD ($)	Apr. 30, 2010 Common Stock [Member] Performance Shares [Member]	Aug. 31, 2014 Common Stock [Member] Total Stock Options [Member]	Aug. 31, 2013 Common Stock [Member] License Agreement [Member]	Aug. 31, 2014 Warrant [Member]	Aug. 31, 2013 Warrant [Member] January 23, 2015 [Member] Canada, Dollars CAD	Aug. 31, 2013 Warrant [Member] License Agreement [Member]	Aug. 31, 2014 Broker units [Member]	Aug. 31, 2013 Broker units [Member]	Aug. 31, 2013 Broker units [Member] Canada, Dollars CAD	Aug. 31, 2014 Private Placement [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] October 2012 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] January 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] April 2013 [Member] USD ($)	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] October 2012 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] January 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] April 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] Canada, Dollars October 2012 [Member] CAD	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] Canada, Dollars January 2013 [Member] CAD	Aug. 31, 2013 Private Placement [Member] Common Stock [Member] Canada, Dollars April 2013 [Member] CAD	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] Brokered Offerings [Member] USD ($)	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] Brokered Offerings [Member] Initial Closing [Member]	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] Brokered Offerings [Member] Final Closing [Member]	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] Non Brokered Offerings [Member] USD ($)	Aug. 31, 2014 Private Placement [Member] Common Stock [Member] TAIWAN, PROVINCE OF CHINA Non Brokered Offerings [Member] USD ($)	Aug. 31, 2014 Private Placement [Member] Warrant [Member] USD ($)	Aug. 31, 2014 Private Placement [Member] Warrant [Member] Initial Closing [Member]	Aug. 31, 2014 Private Placement [Member] Warrant [Member] Final Closing [Member]	Aug. 31, 2013 Private Placement [Member] Warrant [Member] October 2012 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Warrant [Member] January 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Warrant [Member] April 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Warrant [Member] Canada, Dollars October 2012 [Member] CAD	Aug. 31, 2013 Private Placement [Member] Warrant [Member] Canada, Dollars January 2013 [Member] CAD	Aug. 31, 2013 Private Placement [Member] Warrant [Member] Canada, Dollars April 2013 [Member] CAD	Aug. 31, 2013 Private Placement [Member] Broker units [Member] October 2012 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Broker units [Member] January 2013 [Member] USD ($)	Aug. 31, 2013 Private Placement [Member] Broker units [Member] April 2013 [Member] USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues														11,428,570	9,258,400																		11,428,570	4,000,000	1,998,400	3,260,000				4,761,903	2,857,143	1,904,760	6,666,667
Stock Issued During Period, Value, New Issues	$ 7,000,000	$ 3,115,875												$ 12,000,000	$ 3,115,875																		$ 12,000,000	$ 1,007,900	$ 502,098	$ 1,605,877	1,000,000	499,600	1,630,000	$ 5,000,000			$ 7,000,000	$ 5,000,000
Sale of Stock, Price Per Share																																	$ 1.05				0.25	0.25	0.50
Class of Warrant or Right, Exercise Price of Warrants or Rights							0.97	0.57	1.02	0.40	0.40	0.75	1.25											1.25									$ 1.35																		0.40	0.40	0.75
Payments of Stock Issuance Costs																													521,000	50,000	24,000	50,000
Warrants and Rights Outstanding																																																831,000	448,000	470,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights	Stock options granted to directors, officers, employees and consultants are subject to the following vesting schedule: (a) One-third shall vest immediately; (b) One-third shall vest 12 months from the date of grant; and (c) One-third shall vest 18 months from the date of grant. Stock options granted to investor relations consultants vest over a period of not less than 12 months as to 25% on the date that is three months from the date of grant, and a further 25% on each successive date that is three months from the date of theprior vesting.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value				1.58	0.38	0.40
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	327,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 3 months 25 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	1.38	0.67	0.05
Intrinsic Value Of The Vested Options	$ 1.25
Allocated Share-based Compensation Expense																		1,209,000
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued																									278,400																				333,333	200,000	133,333							400,000	97,200	102,000
Share-based Goods and Nonemployee Services Transaction, Stockholders' Equity																																													387,000									91,000	24,000	36,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized																				10,000,000	10,000,000
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures														1,515,152		1,313,130	1,515,152	1,313,130	3,333,335
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number																	3,838,383
Stock Issued During Period, Shares, Acquisitions															371,200							371,200
Weighted Average Contractual Life Remaining																							1 year 6 months 25 days
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term																										1 year 4 days	2 years 9 months 29 days
Weighted Average Fair Value of Nonemployee Services Transaction																												0.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 2 months 1 day
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	$ 0		$ 0											$ 422,728		$ 366,363	$ 422,728	$ 366,363	$ 930,000

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Consolidated Statements of Changes in Equity (USD $)	Total	Common Shares [Member]	Shares Subscribed [Member]	Accumulated Share-Based Compensation [Member]	Accumulated Deficit [Member]
Balance at Aug. 31, 2011	$ 3,440,599	$ 6,541,810	$ 0	$ 2,054,399	$ (5,155,610)
Balance (in shares) at Aug. 31, 2011		41,611,831
Performance shares to be issued	1,209,000	0	0	1,209,000	0
Issuance of performance shares	0	366,363	0	(366,363)	0
Issuance of performance shares (in shares)		1,313,130
Proceeds from exercise of warrants	830,716	830,716	0	0	0
Proceeds from exercise of warrants (in shares)		2,318,600
Transfer to common stock on exercise of warrants	190,425	190,425	0	0	0
Proceeds from exercise of options	46,494	46,494	0	0	0
Proceeds from exercise of options (in shares)		170,000
Transfer to common stock on exercise of options	0	41,087	0	(41,087)	0
Share-based compensation	714,200	0	0	714,200	0
Net loss	(5,529,278)	0	0	0	(5,529,278)
Balance at Aug. 31, 2012	902,156	8,016,895	0	3,570,149	(10,684,888)
Balance (in shares) at Aug. 31, 2012		45,413,561
Proceeds of private placements	3,115,875	3,115,875	0	0	0
Proceeds of private placements (in shares)		9,258,400
Issuance costs of private placements including fair value of broker warrants	(125,062)	(275,956)	0	150,894	0
Fair value of warrants issued in private placements	(1,749,004)	(1,749,004)	0	0	0
Proceeds from exercise of warrants	1,510,336	1,510,336	0	0	0
Proceeds from exercise of warrants (in shares)		2,738,000
Transfer to common stock on exercise of warrants	2,139,409	2,139,409	0	0	0
Proceeds from exercise of options	72,403	72,403	0	0	0
Proceeds from exercise of options (in shares)		164,999
Transfer to common stock on exercise of options	0	54,325	0	(54,325)	0
Share-based compensation	786,585	0	0	786,585	0
Shares issued to acquire license	491,408	491,408	0	0	0
Shares issued to acquire license (in shares)		371,200
Fair value of warrants issued to acquire license	0	(195,014)	0	195,014	0
Subscriptions received for private placement and warrants	5,155,674	0	5,155,674	0	0
Net loss	(14,495,779)	0	0	0	(14,495,779)
Balance at Aug. 31, 2013	(2,195,999)	13,180,677	5,155,674	4,648,317	(25,180,667)
Balance (in shares) at Aug. 31, 2013		57,946,160
Proceeds of private placements	7,000,000	12,000,000	(5,000,000)	0	0
Proceeds of private placements (in shares)		11,428,570
Issuance costs of private placements including fair value of broker warrants	(520,903)	(907,801)	0	386,898	0
Issuance of performance shares	0	422,728	0	(422,728)	0
Issuance of performance shares (in shares)		1,515,152
Proceeds from exercise of warrants	3,764,460	3,920,134	(155,674)	0	0
Proceeds from exercise of warrants (in shares)		5,937,300
Transfer to common stock on exercise of warrants	6,591,546	6,591,546	0	0	0
Proceeds from exercise of options	544,418	544,418	0	0	0
Proceeds from exercise of options (in shares)		1,441,668
Transfer to common stock on exercise of options	0	489,136	0	(489,136)	0
Share-based compensation	956,634	0	0	956,634	0
Net loss	(8,439,523)	0	0	0	(8,439,523)
Balance at Aug. 31, 2014	$ 7,700,633	$ 36,240,838	$ 0	$ 5,079,985	$ (33,620,190)
Balance (in shares) at Aug. 31, 2014		78,268,850

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Commitments (Details Textual)	12 Months Ended					12 Months Ended	1 Months Ended	12 Months Ended
	Aug. 31, 2014 USD ($)	Aug. 31, 2013 USD ($)	Aug. 31, 2012 USD ($)	Aug. 31, 2013 Common Stock [Member]	Aug. 31, 2014 January 23, 2015 [Member] CAD	Aug. 31, 2014 Financing Milestone [Member] USD ($)	Sep. 30, 2014 Subsequent Event [Member] USD ($)	Aug. 31, 2014 Subsequent Event [Member] Sales Targets [Member] USD ($)	Aug. 31, 2014 Subsequent Event [Member] Financing Milestone [Member] USD ($)	Aug. 31, 2014 Contract Research Organizations and Consultants [Member] USD ($)
Commitments And Contingencies Disclosure [Line Items]
Operating Leases, Rent Expense, Net	$ 181,000	$ 178,000	$ 171,000
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%
Defined Benefit Plan, Contributions by Employer	52,000	71,000	23,000
Annual non-elective safe harbor employer contribution percentage	3.00%
Purchase Commitment, Remaining Minimum Amount Committed										78,000
License Costs	200,000	25,000					20,000
Patent Cost Reimbursement	34,000	50,000
Non Transferable share purchase warrants Issued		278,400
Stock Issued During Period, Shares, Acquisitions				371,200
Milestone Payments						$ 100,000		$ 57,025,000	$ 6,020,000
Warrant Exercise Price					1.25

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Accounts Receivable (Tables)

12 Months Ended

Aug. 31, 2014

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Accounts receivable consisted of the following:

	August 31,		August 31,
	2014		2013
Accounts receivable	$	55,713	$	17,648
Grants receivable		-		157,297
Other receivable		862		2,775
	$	56,575	$	177,720

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Share Capital (Details)		12 Months Ended
	Aug. 31, 2014	Aug. 31, 2014 Canada, Dollars CAD	Aug. 31, 2013 Canada, Dollars CAD	Aug. 31, 2014 United States of America, Dollars USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Warrants, Beginning Balance	11,519,712	11,326,300	7,713,000
Number of Warrants Granted		38,100	7,908,300	6,047,612
Number of Warrants Exercised		(5,832,300)	(2,735,000)	(60,000)
Number of Warrants Expired			(1,560,000)
Number of Warrants, Ending Balance	11,519,712	11,519,712	11,326,300
Weighted Average Exercise Price, Beginning Balance		0.57	1.02
Weighted Average Exercise Price Granted		0.46	0.50	$ 1.33
Weighted Average Exercise Price Exercised		0.68	0.57	$ 1.35
Weighted Average Exercise Price Expired			0.53
Weighted Average Exercise Price, Ending Balance		0.97	0.57

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Commitments (Tables)

12 Months Ended

Aug. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future minimum lease payments are as follows:

	August 31,
For The Year Ending August 31,	2014
2015	$	157,000
2016		71,000
	$	228,000

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Nature of Operations and Going Concern

12 Months Ended

Aug. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations [Text Block]

1. Nature of Operations and Going Concern

Stellar Biotechnologies, Inc. (“the Company”) is listed on the U.S. OTCQB Marketplace Exchange under the trading symbol, “SBOTF” and on the TSX Venture Exchange as a Tier 2 issuer under the trading symbol, “KLH.” 

On April 7, 2010, the Company changed its name from CAG Capital, Inc. to Stellar Biotechnologies, Inc. On April 12, 2010, the Company completed a reverse merger transaction with Stellar Biotechnologies, Inc. a California corporation, which was founded in September 1999, and remains the Company’s wholly-owned subsidiary and principal operating entity. The Company’s executive offices are located at 332 E. Scott Street, Port Hueneme, California, 93041, USA, and the registered and records office is Royal Centre, 1055 West Georgia Street, Suite 1500, Vancouver, BC, V6E 4N7, Canada.

 

The Company’s business is the aquaculture, research and development, manufacture and commercialization of Keyhole Limpet Hemocyanin (“KLH”). The Company markets and distributes its KLH products to biotechnology and pharmaceutical companies, academic institutions, and clinical research organizations in Europe, United States, and Asia.

For the years ended August 31, 2014, 2013 and 2012, the Company reported net losses of approximately $8.4 million, $14.5 million, and $5.5 million, respectively. As of August 31, 2014, the Company had an accumulated deficit of approximately $33.6 million and working capital of approximately $12.7 million.

In the past, operations of the Company have primarily been funded by the issuance of common shares, exercise of warrants, grant revenues, contract services revenue, and product sales. In September 2013, the Company closed a private placement with gross proceeds of $12,000,000. Management believes these financial resources are adequate to support the Company’s initiatives at the current level for the foreseeable future. Management is also continuing the ongoing effort toward expanding the customer base for existing marketed products, and the Company may seek additional financing alternatives, including nondilutive financing through grants, collaboration and licensing arrangements, and additional equity financing.

The accompanying financial statements have been prepared on the going concern basis, which assumes that the Company will continue in operation for the foreseeable future and be able to realize its assets and discharge its liabilities and commitments in the normal course of business.

The consolidated financial statements of the Company are presented in U.S. dollars, unless otherwise stated, which is the functional currency.

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Consolidated Balance Sheets (Parenthetical)	Aug. 31, 2014	Aug. 31, 2013
Common shares, shares issued	78,268,850	57,946,160
Common shares, shares outstanding	78,268,850	57,946,160

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Income Taxes

12 Months Ended

Aug. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

11. Income Taxes

 

The breakdown of loss before income tax by jurisdiction is as follows:

	August 31, 2014		August 31, 2013		August 31, 2012
U.S.	$	(4,183,392)	$	(2,082,441)	$	(3,773,748)
Canadian		(4,096,931)		(12,412,538)		(1,754,730)
Other foreign		(132,000)		-		-
Total Loss Before Income Tax	$	(8,412,323)	$	(14,494,979)	$	(5,528,478)

Deferred income tax assets and liabilities of the Company at August 31, 2014, 2013 and 2012 are as follows:

	August 31, 2014		August 31, 2013		August 31, 2012
Deferred income tax assets:
Non-capital loss carry-forwards	$	6,418,300	$	4,426,800	$	3,409,600
Research and development tax credits		616,600		450,400		267,900
Deferred expenses		90,000		65,100		39,400
Share issuance costs		131,800		63,300		73,400
Deferred income tax liabilities:
US federal benefit net of state taxes		(509,000)		(350,600)		(265,200)
Property, plant and equipment		(14,500)		(33,400)		(32,700)
Valuation allowance		(6,733,200)		(4,621,600)		(3,492,400)
Net deferred income tax asset (liability)	$	-	$	-	$	-

 

Realization of the deferred tax assets is dependent upon the generation of future taxable income, the amount and timing of which are uncertain. Accordingly, the net deferred tax assets have been fully offset by a valuation allowance.

As of August 31, 2014, the Company had federal and California net operating loss (“NOL”) carryforwards of approximately $13,137,000 and $13,068,000, respectively, that will expire beginning in 2030 and 2015, respectively, and both continue expiring through 2034. Portions of these NOL carryforwards may be used to offset future taxable income, if any.

As of August 31, 2014, the Company also has federal and California research and development tax credit carryforwards of approximately $290,000 and $326,000, respectively, available to offset future taxes. The federal credits begin expiring in 2024 and continue expiring through 2034. The state tax credits do not expire.

Under the provisions of Section 382 of the Internal Revenue Code, substantial changes in the Company's ownership limit the amount of net operating loss carryforwards and tax credit carryforwards that can be utilized annually in the future to offset taxable income. A valuation allowance has been established to reserve the potential benefits of these carryforwards in the Company's consolidated financial statements to reflect the uncertainty of future taxable income required to utilize available tax loss carryforwards and other deferred tax assets.

The recovery of income taxes shown in the consolidated statements of operations differs from the amounts obtained by applying statutory rates to the loss before provision for income taxes due to the following:

	August 31, 2014			August 31, 2013			August 31,  2012
Combined Canadian federal and provincial tax rates		26.0	%		25.0	%		28.5	%
Expected income tax (recovery)/expense	$	(2,187,200)		$	(3,623,700)		$	(1,575,600)
Nondeductible share-based payments		248,700			327,000			549,900
Nondeductible change in fair value of warrant liability		659,300			2,807,300			(246,100)
Effect of higher income tax rate in US		(602,100)			(308,400)			(426,700)
Foreign currency differences		(50,900)			(26,300)			9,000
Other		(219,800)			(322,500)			(137,300)
Change in valuation allowance on deferred tax assets		2,179,200			1,147,400			1,827,600
Income tax expense	$	27,200		$	800		$	800

The components of income tax provision (benefits) are as follows:

	August 31, 2014		August 31, 2013		August 31,  2012
Current tax provision
U.S. federal	$	-	$	-	$	-
Canadian		-		-		-
Other foreign		26,400		-		-
State		800		800		800
Deferred tax provision
U.S. federal		(1,431,400)		(738,000)		(1,165,700)
Canadian		(289,800)		(157,500)		(249,200)
Other foreign		-		-		-
State		(458,000)		(251,900)		(412,700)
Change in valuation allowance on deferred tax assets		2,179,200		1,147,400		1,827,600
Total	$	27,200	$	800	$	800

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Document And Entity Information (USD $)	12 Months Ended
	Aug. 31, 2014	Nov. 01, 2014	Feb. 28, 2014
Document Information [Line Items]
Entity Registrant Name	Stellar Biotechnologies, Inc.
Entity Central Index Key	0001540159
Current Fiscal Year End Date	--08-31
Entity Filer Category	Accelerated Filer
Trading Symbol	SBOTF
Entity Common Stock, Shares Outstanding		79,121,650
Document Type	10-K
Amendment Flag	false
Document Period End Date	Aug. 31, 2014
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 85,585,181

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Supplemental Disclosure of Cash Flow and Non-Cash Transactions

12 Months Ended

Aug. 31, 2014

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

12. Supplemental Disclosure of Cash Flow and Non-Cash Transactions

Supplemental disclosure of cash flow information follows:

	August 31,		August 31,		August 31,
	2014		2013		2012
Cash paid during the period for taxes		30,200		800		800
Cash paid during the period for interest		-		-		-

Supplemental disclosure of non-cash financing and investing activities follows:

	August 31,		August 31,		August 31,
	2014		2013		2012
Share issuance costs - broker units and warrants	$	386,898	$	150,894	$	-
Transfer to common stock on exercise of warrants		6,591,546		2,139,409		190,425
Transfer to common stock on exercise of options		489,136		54,325		41,087
Transfer to common stock on issuance of performance shares		422,728		-		366,363
Shares subscribed transferred to common stock		5,155,674		-		-
Warrant valuations on private placements		-		1,749,004		-
Fair value of shares issued for acquisition of license		-		491,408		-
Warrant valuation on acquisition of license		-		195,014		-

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Consolidated Statements of Operations (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Revenues:
Contract services revenue	$ 192,000	$ 60,000	$ 60,000
Product sales	143,553	76,055	131,825
Grant revenue	36,579	409,414	94,229
Revenues	372,132	545,469	286,054
Expenses:
Costs of contract services	60,734	11,525	15,572
Costs of production and aquaculture	662,946	183,276	426,310
Grant costs	36,579	409,414	94,043
Research and development	2,458,934	2,018,554	2,634,119
General and administration	2,871,455	1,770,619	3,662,009
Operating Expenses	6,090,648	4,393,388	6,832,053
Other Income (Loss)
Loss recovery	0	0	105,000
Foreign exchange gain (loss)	(222,437)	(95,842)	10,091
Change in fair value of warrant liability	(2,533,305)	(10,556,208)	897,549
Investment income	61,935	4,990	4,881
Nonoperating Income (Expense)	(2,693,807)	(10,647,060)	1,017,521
Loss Before Income Tax	(8,412,323)	(14,494,979)	(5,528,478)
Income tax expense	27,200	800	800
Net Loss	$ (8,439,523)	$ (14,495,779)	$ (5,529,278)
Loss per common share - basic and diluted (in dollars per share)	$ (0.11)	$ (0.28)	$ (0.13)
Weighted average number of common shares outstanding (in shares)	75,826,642	51,611,944	43,775,766

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Intangible Assets - Licensing Rights

12 Months Ended

Aug. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

6. Intangible Assets - Licensing Rights

In December 2010, the Company entered into a research collaboration agreement with a customer. When the agreement terminated according to its terms in August 2011, the Company acquired an exclusive, worldwide sub-licensable and royalty-free license for certain technology developed under collaboration with the customer. The Company paid a $200,000 license fee for the licensing rights, which are jointly owned by the Company and the customer. The licensing rights do not have a fixed term or termination provisions. The licensing rights are amortized over the estimated useful life of seven years and are shown net of accumulated amortization and impairment losses. During the year ended August 31, 2014, the Company discontinued its use of these licensing rights and recorded impairment loss for the remaining value of licensing rights. At August 31, 2013, the value of these licensing rights and related accumulated amortization were $200,000 and $83,333, respectively.

Amortization expense amounted to $26,191, $28,571 and $28,572 for the years ended August 31, 2014, 2013 and 2012, respectively. Impairment loss for the year ended August 31, 2014 totaled $90,476 and is included in general and administrative expenses in the accompanying financial statements.

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Property, Plant and Equipment, net

12 Months Ended

Aug. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5. Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following:

	August 31,		August 31,
	2014		2013
Aquaculture system	$	58,923	$	58,923
Laboratory facilities		62,033		62,033
Computer and office equipment		77,697		56,710
Tools and equipment		622,289		393,497
Vehicles		10,997		10,997
Leasehold improvements		61,187		59,107
		893,126		641,267
Less: accumulated depreciation		(505,734)		(394,998)
	$	387,392	$	246,269

Depreciation expense amounted to $132,122, $96,262 and $83,572 for the years ended August 31, 2014, 2013 and 2012, respectively.

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Property, Plant and Equipment, net (Tables)

12 Months Ended

Aug. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment, net consisted of the following:

	August 31,		August 31,
	2014		2013
Aquaculture system	$	58,923	$	58,923
Laboratory facilities		62,033		62,033
Computer and office equipment		77,697		56,710
Tools and equipment		622,289		393,497
Vehicles		10,997		10,997
Leasehold improvements		61,187		59,107
		893,126		641,267
Less: accumulated depreciation		(505,734)		(394,998)
	$	387,392	$	246,269

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Concentrations of Credit Risk

12 Months Ended

Aug. 31, 2014

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

13. Concentrations of Credit Risk

Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash, cash equivalents and accounts receivable. Management’s assessment of the Company’s credit risk for cash and cash equivalents is low as cash and cash equivalents are held in financial institutions believed to be credit worthy. The Company limits its exposure to credit loss by placing its cash with major financial institutions and invests only in short-term obligations.

Approximately 73%, 73% and 90% of the Company’s product sales and contract services revenue during the years ended August 31, 2014, 2013 and 2012, respectively, were from two customers. All of the grant revenue during the years ended August 31, 2014, 2013 and 2012 was received from the National Science Foundation.

Approximately 76% of the Company’s accounts receivable at August 31, 2014, was from one customer. Approximately 88% of the Company’s accounts receivable at August 31, 2013 was from a grant from National Science Foundation.

While the Company is exposed to credit losses due to the non-performance of its counterparties, the Company considers the risk of this remote. The Company estimates its maximum credit risk for accounts receivable at the amount recorded on the balance sheet.   

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Related Party Disclosures

12 Months Ended

Aug. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

9. Related Party Disclosures

Royalty agreement

On August 14, 2002, through its California subsidiary, the Company entered into an agreement with a director and officer of the Company, where he would receive royalty payments in exchange for assignment of his patent rights to the Company. The royalty is 5% of gross receipts from products using this invention in excess of $500,000 annually. The Company’s current operations utilize this invention. There was no royalty expense incurred during the years ended August 31, 2014, 2013 and 2012.

Collaboration agreement

In December 2013, the Company entered into a collaboration agreement with a privately-held Taiwan biopharmaceuticals manufacturer and a beneficial owner of over 5% of the Company’s common shares. Under the terms of the agreement, the Company will be responsible for the production and delivery of GMP grade KLH for evaluation as a carrier molecule in the collaboration partner’s potential manufacture of OBI-822 active immunotherapy. The Company is also responsible for method development, product formulation, and process qualification for certain KLH reference standards. The collaboration partner will be responsible for development objectives and product specifications. The agreement provides for the collaboration partner to pay fees for certain expenses and costs associated with the collaboration. Subject to certain conditions and timing, the collaboration also provides for the parties to negotiate a commercial supply agreement for Stellar KLH™ in the future. However, there can be no assurance that any such negotiations will lead to successful execution of any further agreements related to this collaboration.

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Commitments

12 Months Ended

Aug. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

7.     Commitments

Operating leases

The Company leases three buildings and facilities used in its operations under sublease agreements with the Port Hueneme Surplus Property Authority. In September 2010, the Company exercised its option to extend these sublease agreements for an additional five-year term. The Company has an option to extend the lease for an additional five-year term.

The Company also leases facilities used for executive offices and laboratories. The Company must pay a portion of the common area maintenance. In July 2014, the Company exercised its option to extend this lease for a two-year term.

Future minimum lease payments are as follows:

	August 31,
For The Year Ending August 31,	2014
2015	$	157,000
2016		71,000
	$	228,000

Rent expense on these lease agreements amounted to approximately $181,000, $178,000, and $171,000 for the years ended August 31, 2014, 2013 and 2012, respectively.

Purchase obligations

The Company has commitments totaling approximately $78,000 at August 31, 2014, for signed agreements with contract research organizations and consultants, which are scheduled to be paid in accordance with contract terms during the 2015 fiscal year.

Supply agreements

The Company has two commitments under certain supply agreements with customers for fixed prices per gram on a non-exclusive basis except within that customer’s field of use. The agreements automatically renew each January unless terminated in writing by either party.

Licensing fees

In July 2013, the Company acquired the exclusive, worldwide license to certain patented technology for the development of human immunotherapies against Clostridium difficile infection (“C. diff”). The license agreement required an initial, non-refundable license fee of $25,000, which was paid in fiscal 2013, and payment of an aggregate of $200,000 in delayed license fees, which were paid in fiscal 2014. Beginning September 2014, the terms also require a license fee of $20,000 to be paid annually, creditable against royalties due, if any. Royalties are payable for a percentage of related net sales, if any. License fees are also payable for a percentage of related non-royalty sublicensing revenue, if any. No royalties have been paid to date. The Company also reimbursed patent filing costs of approximately $34,000 and $50,000 in fiscal 2014 and 2013, respectively, and will reimburse certain future patent filing, prosecution, and maintenance costs. License fees and patent cost reimbursements paid during the years ended August 31, 2014 and 2013, have been accounted for as research and development expense in the accompanying statements of operations.

The license agreement expires when the last valid patent claim licensed under the license agreement expires. Prior to that time, the license agreement can be terminated by the licensor upon certain conditions. The Company will have 30 days after written notice from the licensor to cure the problem prior to termination of the license agreement. The Company can terminate the agreement with three months’ prior written notice.

Upon execution of the license agreement, the Company issued 371,200 common shares and warrants to purchase up to 278,400 of the Company’s common shares to the licensor, as further described in Note 8. The warrants expire on January 23, 2015 and have an exercise price of C$1.25 per share.

The license agreement provides for the Company up to an aggregate of $6,020,000 in milestone payments to the licensor upon achievement of various financing and development targets up to the first regulatory approval. Remaining contingent milestone payments to the licensor totaling $57,025,000 are related to achievement of sales targets A financing milestone was met during the year ended August 31, 2014, and accordingly, the Company made a milestone payment of $100,000. No milestones were met during the year ended August 31, 2013, and there can be no assurance that any of the remaining milestones will be met in the future.

Retirement savings plan 401(k) contributions

The Company sponsors a 401(k) retirement savings plan that requires an annual non-elective safe harbor employer contribution of 3% of eligible employee wages. All employees over 21 years of age are eligible beginning the first payroll after 3 consecutive months of employment. Employees are 100% vested in employer contributions and in any voluntary employee contributions. Contributions to the 401(k) plan were approximately $52,000, $71,000 and $23,000 for the years ended August 31, 2014, 2013 and 2012, respectively.

Related party commitments

See Note 9.

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Share Capital

12 Months Ended

Aug. 31, 2014

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

8. Share Capital

Authorized: unlimited common shares without par value.

Private Placements During the Year Ended August 31, 2014:

The Company closed a private placement and issued 11,428,570 units for total gross proceeds of $12,000,000, completed in two closings. The private placement included a brokered portion sold to institutional and accredited investors totaling $5,000,000 (4,761,903 units) (the “brokered offering”) and a non-brokered portion totaling $7,000,000 (6,666,667 units) (the “non-brokered offering”). The non-brokered offering included a $5,000,000 investment by a privately-held Taiwan biopharmaceuticals manufacturer. Each unit, sold for $1.05, consisted of (i) one share of the Company’s common shares and (ii) one half of a share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional share of the Company’s common shares at a purchase price of $1.35 for a period of three years from the issuance date of the Warrants. Subject to additional requirements imposed by the United States Securities Act of 1933, as amended requiring longer hold-periods on certain of the securities for resale by U.S. subscribers in the U.S. market and a lock-up agreement with certain holders of the securities, the securities issued in the initial closing (2,857,143 brokered offering units, 6,666,667 non-brokered offering units, and 200,000 broker warrants) were subject to a hold period that expired January 10, 2014 and the securities issued in the final closing (1,904,760 brokered offering units and 133,333 broker warrants) were subject to a hold period that expired January 21, 2014. The Company issued 333,333 broker warrants valued at $387,000 using the Black Scholes model and paid $521,000 cash share issuance costs in relation to the private placement.

Private Placements During the Year Ended August 31, 2013:

a) In October 2012, the Company issued 4,000,000 units at a price of CDN$0.25 per unit for total gross proceeds of $1,007,900 (CDN$1,000,000). Each unit consisted of one common share of the Company and one transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of CDN$0.40 and is exercisable on or before October 25, 2015. The warrants were valued at $831,000. The Company issued 400,000 broker units valued at $91,000 and paid $50,000 of cash share issuance costs in relation to the private placement.

b) In January 2013, the Company issued 1,998,400 units at a price of CDN$0.25 per unit for total gross proceeds of $502,098 (CDN$499,600). Each unit consisted of one common share of the Company and one transferable share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of CDN$0.40 and is exercisable on or before January 4, 2016. The warrants were valued at $448,000. The Company issued 97,200 broker units valued at $24,000 and paid $24,000 of cash share issuance costs in relation to the private placement.

c) In April 2013, the Company issued 3,260,000 units at a price of CDN$0.50 per unit for total gross proceeds of $1,605,877 (CDN$1,630,000). Each unit consisted of one common share of the Company and one half of a transferable share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the Company at a price of CDN$0.75 and is exercisable on or before October 2, 2014. The warrants were valued at $470,000. The Company issued 102,000 broker units valued at $36,000 and paid $50,000 of cash share issuance costs in relation to the private placement.

Performance Shares

There were 10,000,000 common shares were allotted for officers, directors and employees of the Company based on meeting milestones related to completion of method development for commercial-scale manufacture of KLH, compilation and regulatory submittal of all required chemistry, manufacturing and control data and completion of preclinical toxicity and immunogenicity testing of products under a performance share plan (the “Performance Share Plan”). Share-based compensation was recorded over the estimated vesting period.

No amounts were recorded as share-based compensation during the years ended August 31, 2014 or 2013 since the performance shares had fully vested during the prior years. Share-based compensation expense for the year ended August 31, 2012 was $1,209,000.

During the year ended August 31, 2011, the Company determined that one of the three milestones set forth in the Performance Share Plan was successfully met and the Board authorized the issuance of an aggregate of 3,333,335 common shares of the Company to all participants in the Performance Share Plan. Accordingly, $930,000 was transferred from accumulated share-based compensation to common shares.

During the year ended August 31, 2012, the Company determined that it had successfully met the final two milestones set forth in the Performance Share Plan and issued an aggregate of 1,313,130 common shares of the Company to non-director participants in the Performance Share Plan. Accordingly, $366,363 was transferred from accumulated share-based compensation to common shares.

During the year ended August 31, 2014, the Company issued 1,515,152 common shares of the Company to a former director named in the Performance Share Plan. Accordingly, $422,728 was transferred from accumulated share-based compensation to common shares.

At August 31, 2014, there are 3,838,383 performance shares outstanding to be issued.

License Agreement

During the year ended August 31, 2013, the Company entered into a license agreement and issued 371,200 common shares and warrants to purchase up to 278,400 of the Company’s common shares to the licensor. Each warrant entitles the holder to purchase one common share of the Company at a price of CDN$1.25 per share on or before January 23, 2015. The common shares were subject to a hold period that ended on November 25, 2013. The value of the shares and warrants were recorded as research and development expense.

Black-Scholes option valuation model

The Company uses the Black-Scholes option valuation model to determine the fair value of warrants, broker units and stock options. Option valuation models require the input of highly subjective assumptions including the expected price volatility. The Company has used historical volatility to estimate the volatility of the share price. Changes in the subjective input assumptions can materially affect the fair value estimates, and therefore the existing models do not necessarily provide a reliable single measure of the fair value of the Company’s warrants, broker units and stock options.

Warrants

A summary of the Company’s warrants activity is as follows:

	Number of Warrants		Weighted Average Exercise Price
Balance - August 31, 2012		7,713,000	$	1.02	CDN $
Granted		7,908,300		0.50	CDN $
Exercised		(2,735,000)		0.57	CDN $
Expired		(1,560,000)		0.53	CDN $
Balance - August 31, 2013		11,326,300	$	0.57	CDN $
Granted		38,100		0.46	CDN $
Granted		6,047,612		1.33
Exercised		(5,832,300)		0.68	CDN $
Exercised		(60,000)		1.35
Balance - August 31, 2014		11,519,712	$	0.97	CDN $

The weighted average contractual life remaining on the outstanding warrants at August 31, 2014 is 1.57 years.

The following table summarizes information about the warrants outstanding at August 31, 2014:

Exercise Price	Number of Warrants	Expiry Date
CDN$0.75	975,300	October 2, 2014
CDN$1.25	278,400	January 23, 2015
CDN$0.40	4,000,000	October 25, 2015
CDN$0.40	278,400	January 4, 2016
$1.35	4,701,902	September 9, 2016
$1.05	200,000	September 9, 2016	Broker warrants
$1.35	952,377	September 20, 2016
$1.05	133,333	September 20, 2016	Broker warrants
	11,519,712

Warrant Liability

Equity offerings conducted by the Company in prior years included the issuance of warrants with exercise prices denominated in Canadian dollars. The Company’s functional currency is in U.S. dollars. As a result of having exercise prices denominated in other than the Company’s functional currency, these warrants meet the definition of derivatives and are therefore classified as derivative liabilities measured at fair value with adjustments to fair value recognized through the consolidated statements of operations. As these warrants are exercised, the fair value of the recorded warrant liability on date of exercise is included in common shares along with the proceeds from the exercise. If these warrants expire, the related decrease in warrant liability is recognized in profit or loss, as part of the change in fair value of warrant liability. There is no cash flow impact as a result of this accounting treatment.

The fair value of the warrants is determined using the Black-Scholes option valuation model at the end of each reporting period. Upon exercise of the warrants, the fair value of warrants included in derivative liabilities is reclassified to equity.

The fair value of warrants exercised during the years ended August 31, 2014, 2013 and 2012 was determined using the Black-Scholes option valuation model, using the following weighted average assumptions:

	2014			2013			2012
Risk free interest rate		1.07	%		1.23	%		2.49	%
Expected life (years)		0.27			1.17			0.11
Expected share price volitility		106	%		111	%		110	%

There were no warrants granted during the year ended August 31, 2012. The fair value of warrants granted during the years ended August 31, 2014 and 2013 was determined using the Black-Scholes option valuation model, using the following weighted average assumptions at the date of the grant:

	2014			2013
Risk free interest rate		1.48	%		1.18	%
Expected life (years)		3.00			2.76
Expected share price volitility		112	%		123	%
Expected dividend yield		0	%		0	%

Broker units

The Company granted broker units as finders’ fees in conjunction with equity offerings in prior years. Broker units are fully vested when granted and allow the holders to purchase equity units. A unit consists of one common share and either one whole warrant or one half warrant.

A summary of broker units activity is as follows:

	Number of Units		Weighted Average Exercise Price
Balance - August 31, 2012		345,600	$	0.60	CDN $
Granted		599,200		0.29	CDN $
Exercised		(3,000)		0.50	CDN $
Expired		(345,600)		0.60	CDN $
Balance - August 31, 2013		596,200	$	0.29	CDN $
Exercised		(45,000)		0.33	CDN $
Balance - August 31, 2014		551,200	$	0.29	CDN $

The weighted average contractual life remaining on the outstanding broker units is 1.01 years.

The following table summarizes information about the broker units outstanding at August 31, 2014:

Exercise Price	Number of Units	Expiry Date
CDN$0.50	85,200	October 2, 2014
CDN$0.25	400,000	October 25, 2015
CDN$0.25	66,000	January 4, 2016
	551,200

The broker units expiring October 2, 2014 include one-half warrant. The broker units expiring October 25, 2015 and January 4, 2016 include one warrant.

There were no broker units granted during the years ended August 31, 2014 or 2012. The estimated fair value of the broker units granted during the year ended August 31, 2013 was determined using a Black-Scholes option valuation model with the following weighted average assumptions:

	2013
Risk free interest rate		1.17	%
Expected life (years)		2.83
Expected share price volitility		123	%
Expected dividend yield		0	%

The weighted average fair value of broker units awarded during the year ended August 31, 2013 was CDN$0.25.

Options

The Company has a 2013 fixed stock option plan (“the Plan”) to be administered by the Board of Directors, which has the discretion to grant up to an aggregate of 10,000,000 options. The exercise price of an option is set at the closing price of the Company’s common shares on the date of grant. Stock options granted to directors, officers, employees and consultants are subject to the following vesting schedule:

(a) One-third shall vest immediately;

(b) One-third shall vest 12 months from the date of grant; and

(c) One-third shall vest 18 months from the date of grant.

Stock options granted to investor relations consultants vest over a period of not less than 12 months as to 25% on the date that is three months from the date of grant, and a further 25% on each successive date that is three months from the date of the prior vesting.

Options have been issued under the Plan allowing the holders to purchase common shares of the Company as follows:

	Number of Options		Weighted Average Exercise Price
Balance - August 31, 2012		5,789,200	$	0.42	CDN $
Granted		1,200,000		0.43	CDN $
Exercised		(164,999)		0.45	CDN $
Expired		(40,000)		0.70	CDN $
Forfeited		(195,333)		0.45	CDN $
Balance - August 31, 2013		6,588,868	$	0.42	CDN $
Granted		195,000		1.42	CDN $
Granted		595,000		1.83
Exercised		(1,441,668)		0.41	CDN $
Expired		(1,667)		0.42	CDN $
Balance - August 31, 2014		5,935,533	$	0.61	CDN $

The weighted average contractual life remaining on the outstanding options is 4.17 years.

The following table summarizes information about the options under the Plan outstanding and exercisable at August 31, 2014:

Exercise Price	Number of Options	Exercisable at August 31, 2014	Expiry Date
CDN$0.25	125,000	125,000	October 23, 2015
CDN$0.28	1,645,000	1,645,000	April 9, 2017
CDN$0.25	55,000	55,000	May 17, 2017
CDN$0.28	20,000	20,000	June 28, 2017
CDN$0.28	70,000	70,000	July 13, 2017
CDN$0.64	70,000	70,000	October 25, 2017
CDN$1.00	60,000	60,000	February 10, 2018
CDN$0.65	848,600	848,600	August 8, 2018
CDN$0.50	5,000	5,000	September 26, 2018
CDN$1.87	100,000	33,333	November 7, 2018
CDN$0.40	70,000	70,000	December 22, 2018
CDN$0.42	853,600	853,600	April 13, 2019
CDN$0.29	90,000	90,000	June 18, 2019
CDN$0.37	150,000	150,000	August 9, 2019
CDN$0.37	150,000	150,000	August 16, 2019
CDN$0.25	58,333	58,333	October 23, 2019
CDN$0.25	215,000	215,000	December 19, 2019
CDN$0.58	560,000	373,333	May 14, 2020
CDN$0.58	100,000	66,667	May 23, 2020
$1.83	495,000	165,000	November 1, 2020
$1.84	100,000	33,333	November 15, 2020
CDN$0.94	95,000	31,667	June 27, 2021
	5,935,533	5,188,866

The estimated fair value of the stock options granted during the years ended August 31, 2014, 2013 and 2012 was determined using a Black-Scholes option valuation model with the following weighted average assumptions:

	2014			2013			2012
Risk free interest rate		2.01	%		1.55	%		1.63	%
Expected life (years)		6.75			6.17			7.00
Expected share price volitility		120	%		123	%		147	%
Expected dividend yield		0	%		0	%		0	%

The weighted average fair value of stock options awarded during the years ended August 31, 2014, 2013 and 2012 was CDN$1.58, CDN$0.38 and CDN$0.40, respectively.

As of August 31, 2014, the Company had approximately $327,000 of unrecognized share-based compensation expense, which is expected to be recognized over a period of 1.32 years.

The intrinsic value of the options exercised during the years ended August 31, 2014, 2013 and 2012 was $1.38, $0.67, and $0.05 respectively. The intrinsic value of the vested options at August 31, 2014 was $1.25.

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Loss Recovery

12 Months Ended

Aug. 31, 2014

Loss Recovery [Abstract]

Loss Recovery [Text Block]

10. Loss Recovery

A shipment of KLH was damaged by a vendor.  The vendor agreed to reimburse the Company for the value of the KLH.  The loss recovery of $105,000 was recorded during the year ended August 31, 2012 when the realization of income was virtually certain.

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Commitments (Details) (USD $)	Aug. 31, 2014
Future Minimum Rental Payments For Operating Leases [Line Items]
2015	$ 157,000
2016	71,000
Operating Leases, Future Minimum Payments Due	$ 228,000

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Income Taxes (Details 3) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Current tax provision
U.S. federal	$ 0	$ 0	$ 0
Canadian	0	0	0
Other foreign	26,400	0	0
State	800	800	800
Deferred tax provision
U.S. federal	(1,431,400)	(738,000)	(1,165,700)
Canadian	(289,800)	(157,500)	(249,200)
Other foreign	0	0	0
State	(458,000)	(251,900)	(412,700)
Change in valuation allowance on deferred tax assets	2,179,200	1,147,400	1,827,600
Total	$ 27,200	$ 800	$ 800

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Significant Accounting Policies (Policies)

12 Months Ended

Aug. 31, 2014

Accounting Policies [Abstract]

Use of Estimates, Policy [Policy Text Block]

a) Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reported periods. These estimates include warrant liability, share-based compensation, intangible assets, valuation of accounts receivable, and income taxes. Actual outcomes could differ from these estimates. These consolidated financial statements include estimates, which by their nature are uncertain. The impacts of such estimates are pervasive throughout the consolidated financial statements, and may require accounting adjustments based on future periods if the revision affects both current and future periods. These estimates are based on historical experience, current and future economic conditions and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Cash and Cash Equivalents, Policy [Policy Text Block]

b) Cash and Cash Equivalents

Cash and cash equivalents consist of demand deposits with financial institutions and highly liquid investments which are readily convertible into cash with maturities of three months or less when purchased.

Investment, Policy [Policy Text Block]

c) Investments

Investments include Canadian enhanced yield deposits with original maturity of 180 days. Investments are classified as held-to-maturity and are reported at amortized cost, which approximates fair value. The Company regularly reviews its investments to determine whether a decline in fair value below the cost basis is other than temporary. If the decline in fair value is determined to be other than temporary, the cost basis of the investment is written down to fair value.

Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]

d) Allowance for Doubtful Accounts Receivable

The Company assesses the collectability of its accounts receivable through a review of its current aging, as well as an analysis of its historical collection rate, general economic conditions and credit status of its customers.  As of August 31, 2014 and 2013, all outstanding accounts receivable were deemed to be fully collectible, and therefore, no allowance for doubtful accounts was recorded.

Property, Plant and Equipment, Policy [Policy Text Block]

e) Property, Plant and Equipment

Property, plant and equipment are recorded at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is recorded on the straight-line method over useful lives ranging from 5 to 10 years. Leasehold improvements are depreciated over the shorter of the useful life of the improvement or remaining term of lease. Maintenance and repairs are charged to operations as incurred.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

f) Impairment of Long-Lived Assets

If indicators of impairment exist, the Company assesses the recoverability of the affected long-lived assets by determining whether the carrying value of such assets can be recovered through undiscounted future operating cash flows. If impairment is indicated, the amount of such impairment is measured by comparing the carrying value of the asset to the fair value of the asset and the Company records the impairment as a reduction in the carrying value of the related asset and a charge to operating results. Estimating the undiscounted future cash flows associated with long-lived assets requires judgment, and assumptions could differ materially from actual results. See Note 6 for impairment of licensing rights.

Fair Value of Financial Instruments, Policy [Policy Text Block]

g) Fair Value of Financial Instruments

The Company uses the fair value measurement framework for valuing financial assets and liabilities measured on a recurring basis in situations where other accounting pronouncements either permit or require fair value measurements.

Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As of August 31, 2014 and 2013, the carrying value of certain financial instruments such as accounts receivable, accounts payable, accrued liabilities, and deferred revenue approximates fair value due to the short-term nature of such instruments.

The Company follows the fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices in active markets for identical or similar assets and liabilities.

Level 2: Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.

Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company records its cash and cash equivalents at fair value using Level 1 inputs in the fair value hierarchy. The Company records its warrant liability at fair value using Level 2 input using the assumptions disclosed in Note 8.

Revenue Recognition, Policy [Policy Text Block]

h) Revenue Recognition

Contract services revenue

The Company recognizes contract services revenue when contract services have been performed and reasonable assurance exists regarding measurement and collectability. An appropriate amount will be recognized as revenue in the period that the Company is assured of fulfilling the contract requirements. Amounts received in advance of performance of contract services are recorded as deferred revenue.

Contract services include services performed under collaboration agreements and monthly maintenance of limpet colonies designated to meet the needs of the customer. The Company also has the right to use raw material produced from designated limpet colonies at no cost to the Company with prior written consent from the customer.

Product Sales

The Company recognizes product sales when KLH product is shipped (for which the risk is typically transferred upon delivery to the shipping carrier) and there is persuasive evidence of an arrangement, the fee is fixed or determinable, and collectability is reasonably assured. The Company documents arrangements with customers with purchase orders and sales agreements.

 

Product sales include sales made under supply agreements with a customer for a fixed price per gram of KLH products based on quantities ordered, including those produced from the customer’s designated limpet colonies. The supply agreements are on a non-exclusive basis except within that customer’s field of use.

Grants

The Company has taken the income approach to recognizing grant revenue. The Company recognizes grant revenue when there is reasonable assurance that the Company will comply with the conditions attached, the benefits have been earned and it is reasonably assured of collection. An appropriate amount of earned revenue will be recognized as revenue in the period that the Company is assured of fulfilling the grant requirements.

Research and Development Expense, Policy [Policy Text Block]

i) Research and Development

Research and development costs are expensed as incurred.

Stockholders' Equity, Policy [Policy Text Block]

j) Equity Financing

The Company engages in equity financing transactions to obtain the funds necessary to continue operations and perform research and development activities. These equity financing transactions may involve issuance of common shares or units. Units typically comprise a certain number of common shares and share purchase warrants. Depending on the terms and conditions of each equity financing transaction, the warrants are exercisable into additional common shares at a price prior to expiry as stipulated by the terms of the transaction.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

k) Share-Based Compensation

The Company grants options to buy common shares of the Company to its directors, officers, employees and consultants, and grants other equity-based instruments to non-employees.

The fair value of share-based compensation is measured on the date of grant, using the Black-Scholes option valuation model and is recognized over the vesting period net of estimated forfeitures for employees or the service period for non-employees. The Black-Scholes option valuation model requires the input of subjective assumptions, including price volatility of the underlying stock, risk-free interest rate, dividend yield, and expected life of the option.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

l) Foreign Exchange

Items included in the financial statements of the Company’s subsidiary are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the parent and its subsidiary is the U.S. dollar.

Transactions in currencies other than the U.S. dollar are recorded at exchange rates prevailing on the dates of the transactions.

Income Tax, Policy [Policy Text Block]

m) Income Taxes

Income tax expense comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity. Current tax expense is the expected tax payable on taxable income for the year, using tax rates enacted or substantively enacted at year-end, adjusted for amendments to tax payable with regards to previous years.

Deferred tax is recorded using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Temporary differences are not provided for relating to goodwill not deductible for tax purposes. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the balance sheet date.

A deferred tax asset is recognized only to the extent that it is more likely than not that future taxable profits will be available against which the asset can be utilized. To the extent that the Company does not consider it more likely than not that a deferred tax asset will be recovered, it provides a valuation allowance against that excess.

The Company periodically evaluates its tax positions to determine whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities. The Company has not incurred any interest or penalties as of August 31, 2014 with respect to uncertain income tax matters. The Company does not expect that there will be unrecognized tax benefits of a significant nature that will increase or decrease within 12 months of the reporting date.

The Company files income tax returns in the U.S. federal, Canadian and state jurisdictions. Management believes that there are no material uncertain tax positions that would impact the accompanying consolidated financial statements. The Company's policy is to recognize interest and penalties related to unrecognized tax benefits in income tax expense. The Company may be subject to examination by the Internal Revenue Service for tax years 2010 through 2013 and by the Canada Revenue Agency for tax years 2010 through 2014. The Company may also be subject to examination on certain state and local jurisdictions for the tax years 2009 through 2013.

Earnings Per Share, Policy [Policy Text Block]

n) Loss Per Share

Basic earnings (loss) per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period.

The computation of diluted loss per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on loss per share. The dilutive effect of convertible securities is reflected in diluted earnings per share by application of the “if converted” method. The dilutive effect of outstanding options and warrants and their equivalents is reflected in diluted earnings per share by application of the treasury stock method. Conversion of outstanding warrants, broker units and options would have an antidilutive effect on loss per share for the years ended August 31, 2014, 2013 and 2012, and are therefore excluded from the computation of diluted loss per share.

Segment Reporting, Policy [Policy Text Block]

o) Segments

The Company operates in one reportable segment and, accordingly, no segment disclosures have been presented. All equipment, leasehold improvements and other fixed assets owned by the Company are physically located within the United States, and all supply, collaboration and licensing agreements are denominated in U.S. dollars.

New Accounting Pronouncements, Policy [Policy Text Block]

p) Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 creates a new topic in the ASC Topic 606 and establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics, and expands and improves disclosures about revenue. In addition, ASU 2014-09 adds a new Subtopic to the Codification, ASC 340-40, Other Assets and Deferred Costs: Contracts with Customers, to provide guidance on costs related to obtaining a contract with a customer and costs incurred in fulfilling a contract with a customer that are not in the scope of another ASC Topic. The guidance in ASU 2014-09 is effective for public entities for annual reporting periods beginning after December 15, 2016, including interim periods therein. Early application is not permitted. Management is in the process of assessing the impact of ASU 2014-09 on the Company’s financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. The guidance in ASU 2014-15 is effective for annual reporting periods beginning after December 15, 2016, with early application permitted. Management is in the process of assessing the impact of ASU 2014-15 on the Company’s financial statements.

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Income Taxes (Tables)

12 Months Ended

Aug. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The breakdown of loss before income tax by jurisdiction is as follows:

	August 31, 2014		August 31, 2013		August 31, 2012
U.S.	$	(4,183,392)	$	(2,082,441)	$	(3,773,748)
Canadian		(4,096,931)		(12,412,538)		(1,754,730)
Other foreign		(132,000)		-		-
Total Loss Before Income Tax	$	(8,412,323)	$	(14,494,979)	$	(5,528,478)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred income tax assets and liabilities of the Company at August 31, 2014, 2013 and 2012 are as follows:

	August 31, 2014		August 31, 2013		August 31, 2012
Deferred income tax assets:
Non-capital loss carry-forwards	$	6,418,300	$	4,426,800	$	3,409,600
Research and development tax credits		616,600		450,400		267,900
Deferred expenses		90,000		65,100		39,400
Share issuance costs		131,800		63,300		73,400
Deferred income tax liabilities:
US federal benefit net of state taxes		(509,000)		(350,600)		(265,200)
Property, plant and equipment		(14,500)		(33,400)		(32,700)
Valuation allowance		(6,733,200)		(4,621,600)		(3,492,400)
Net deferred income tax asset (liability)	$	-	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The recovery of income taxes shown in the consolidated statements of operations differs from the amounts obtained by applying statutory rates to the loss before provision for income taxes due to the following:

	August 31, 2014			August 31, 2013			August 31,  2012
Combined Canadian federal and provincial tax rates		26.0	%		25.0	%		28.5	%
Expected income tax (recovery)/expense	$	(2,187,200)		$	(3,623,700)		$	(1,575,600)
Nondeductible share-based payments		248,700			327,000			549,900
Nondeductible change in fair value of warrant liability		659,300			2,807,300			(246,100)
Effect of higher income tax rate in US		(602,100)			(308,400)			(426,700)
Foreign currency differences		(50,900)			(26,300)			9,000
Other		(219,800)			(322,500)			(137,300)
Change in valuation allowance on deferred tax assets		2,179,200			1,147,400			1,827,600
Income tax expense	$	27,200		$	800		$	800

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax provision (benefits) are as follows:

	August 31, 2014		August 31, 2013		August 31,  2012
Current tax provision
U.S. federal	$	-	$	-	$	-
Canadian		-		-		-
Other foreign		26,400		-		-
State		800		800		800
Deferred tax provision
U.S. federal		(1,431,400)		(738,000)		(1,165,700)
Canadian		(289,800)		(157,500)		(249,200)
Other foreign		-		-		-
State		(458,000)		(251,900)		(412,700)
Change in valuation allowance on deferred tax assets		2,179,200		1,147,400		1,827,600
Total	$	27,200	$	800	$	800

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Income Taxes (Details 1) (USD $)	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Deferred income tax assets:
Non-capital loss carry-forwards	$ 6,418,300	$ 4,426,800	$ 3,409,600
Research and development tax credits	616,600	450,400	267,900
Deferred expenses	90,000	65,100	39,400
Share issuance costs	131,800	63,300	73,400
Deferred income tax liabilities:
US federal benefit net of state taxes	(509,000)	(350,600)	(265,200)
Property, plant and equipment	(14,500)	(33,400)	(32,700)
Valuation allowance	(6,733,200)	(4,621,600)	(3,492,400)
Net deferred income tax asset (liability)	$ 0	$ 0	$ 0

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Share Capital (Details 5) (Broker units [Member])	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Broker units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate		1.17%
Expected life (years)	1 year 4 days	2 years 9 months 29 days
Expected share price volitility		123.00%
Expected dividend yield		0.00%

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Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Cash Flows Used In Operating Activities:
Net loss	$ (8,439,523)	$ (14,495,779)	$ (5,529,278)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	158,313	124,833	112,144
Share-based compensation	956,634	786,585	1,923,200
Foreign exchange (gain) loss	222,437	95,842	(10,091)
Change in fair value of warrant liability	2,533,305	10,556,208	(897,549)
Loss on disposal of property, plant and equipment	3,670	0	0
Impairment loss	90,476	0	0
Fair value of shares issued for research license	0	491,408	0
Changes in working capital items:
Accounts receivable	121,075	(192,067)	29,740
Deferred financing costs	60,656	(62,027)	0
Prepaid expenses	(94,974)	(2,658)	4,376
Accounts payable and accrued liabilities	106,224	29,309	292,167
Deferred revenue	15,000	(127,477)	127,477
Net cash used in operating activities	(4,266,707)	(2,795,823)	(3,947,814)
Cash Flows Used In Investing Activities:
Acquisition of property, plant and equipment	(279,065)	(9,541)	(78,338)
Proceeds on sale of property, plant and equipment	2,150	0	0
Purchase of short-term investments	(464,500)	0	0
Net cash used in investing activities	(741,415)	(9,541)	(78,338)
Cash Flows From Financing Activities:
Proceeds from exercise of warrants and options	4,308,878	1,582,739	877,210
Proceeds from issuance of common stock, net	6,479,097	8,146,487	0
Refund of deposit	0	1,600	0
Net cash provided by financing activities	10,787,975	9,730,826	877,210
Effect of exchange rate changes on cash and cash equivalents	(212,338)	(64,571)	2,448
Net change in cash and cash equivalents	5,567,515	6,860,891	(3,146,494)
Cash and cash equivalents - beginning of year	7,859,889	998,998	4,145,492
Cash and cash equivalents - end of year	$ 13,427,404	$ 7,859,889	$ 998,998

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Accounts Receivable

12 Months Ended

Aug. 31, 2014

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. Accounts Receivable

Accounts receivable consisted of the following:

	August 31,		August 31,
	2014		2013
Accounts receivable	$	55,713	$	17,648
Grants receivable		-		157,297
Other receivable		862		2,775
	$	56,575	$	177,720

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Supplemental Disclosure of Cash Flow and Non-Cash Transactions (Tables)

12 Months Ended

Aug. 31, 2014

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Supplemental disclosure of cash flow information follows:

	August 31,		August 31,		August 31,
	2014		2013		2012
Cash paid during the period for taxes		30,200		800		800
Cash paid during the period for interest		-		-		-

Schedule of Other Significant Noncash Transactions [Table Text Block]

Supplemental disclosure of non-cash financing and investing activities follows:

	August 31,		August 31,		August 31,
	2014		2013		2012
Share issuance costs - broker units and warrants	$	386,898	$	150,894	$	-
Transfer to common stock on exercise of warrants		6,591,546		2,139,409		190,425
Transfer to common stock on exercise of options		489,136		54,325		41,087
Transfer to common stock on issuance of performance shares		422,728		-		366,363
Shares subscribed transferred to common stock		5,155,674		-		-
Warrant valuations on private placements		-		1,749,004		-
Fair value of shares issued for acquisition of license		-		491,408		-
Warrant valuation on acquisition of license		-		195,014		-

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Share Capital (Details 2)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013	Aug. 31, 2012
Warrants Exercised [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk free interest rate	1.07%	1.23%	2.49%
Expected life (years)	3 months 7 days	1 year 2 months 1 day	1 month 10 days
Expected share price volitility	106.00%	111.00%	110.00%
Warrants Granted [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Risk free interest rate	1.48%	1.18%
Expected life (years)	3 years	2 years 9 months 4 days
Expected share price volitility	112.00%	123.00%
Expected dividend yield	0.00%	0.00%

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Subsequent Events

12 Months Ended

Aug. 31, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

14. Subsequent Events

Subsequent to August 31, 2014, the Company issued 1,152,800 common shares upon the exercise of 1,102,800 warrants for gross proceeds of CDN$805,800 and the exercise of 50,000 stock options for gross proceeds of CDN$12,500 through November 1, 2014.