v3.25.2
Subsequent events
 9 Months Ended
May 31, 2025
Subsequent Events [Abstract]  
Subsequent events

18. Subsequent events

 

The Company has evaluated subsequent events through the date of filing this Form 10-Q and has identified the following events requiring disclosure:

 

  1. Reverse Stock Split — On June 26, 2025, following approval at a special meeting of shareholders, the Board of Directors approved a reverse stock split of the Company’s common shares at a ratio of 20-for-01. The stock split was declared, but not yet effective as the date the financial statements are issued and therefore unaudited pro-forma retrospective adjusted earnings per share information is disclosed on the Statement of Operations and Comprehensive Loss in addition to the historical earnings per share disclosure.
     
  2. NYSE American Delisting Notice — The Company received a notice of delisting from the NYSE American due to its shares trading below the minimum price requirement, resulting in classification as penny stock. The Company has filed an appeal, and the hearing is scheduled for July 17, 2025. Management expects that the reverse stock split will enable the Company’s securities to regain compliance and remain listed.