25 unchanged sentences
The following table sets forth information regarding our executive officers and the members of our board of directors.
−Removed: Name Position Held with the Company Date First Elected or Appointed
−Removed: Frederick Vandenberg Director, President, Corporate Secretary, Chief Executive Officer CEO since June 2017
+Added: Position Held with the Company
+Added: Date First Elected or Appointed
+Added: Frederick Vandenberg
+Added: Director, President, Corporate Secretary, Chief Executive Officer
+Added: CEO since June 2017
CFO since July 2007
−Removed: Hyonmyong Cho (1) Chairman of the Board, Director February 2017
−Removed: Samuel Jay Graber (1) Director February 2017
−Removed: Dave Summers (1) Director February 2019
−Removed: David Mossberg Director November 2021
−Removed: Olya Massalitina Chief Financial Officer and Treasurer April 2022
+Added: Hyonmyong Cho (1)
+Added: Chairman of the Board, Director
+Added: February 2017
+Added: Samuel Jay Graber (1)
+Added: February 2017
+Added: Dave Summers (1)
+Added: February 2019
+Added: David Mossberg
+Added: November 2021
+Added: Olya Massalitina
+Added: Chief Financial Officer and Treasurer
+Added: April 2022 - September 2024
+Added: Assel Mendesh
+Added: Chief Financial Officer
(1) Member of our Audit Committee
57 unchanged sentences
Olya Massalitina BSc., CPA - Mrs.
−Removed: Massalitina was appointed our Chief Financial Officer in April of 2022, replacing the Company's former CFO - Samuel Ritchie.
+Added: Massalitina was appointed our Chief Financial Officer in April of 2022 and resigned in September 2024.
Massalitina is a Chartered Professional Accountant with over 10 years of experience working with a variety of publicly traded multinational companies in different industries.
3 unchanged sentences
Massalitina holds a Bachelor of Science, Mathematics degree from a well-recognized Ukrainian University and a Diploma in Accounting from British Columbia Institute of Technology.
+Added: Assel Mendesh , CPA, CGA, FCCA, CIA - Ms.
+Added: Mendesh was appointed our Chief Financial Officer in May 2025, succeeding Mrs.
+Added: Mendesh brings over 15 years of financial leadership experience across multiple industries.
+Added: Most recently, she served as Director of Finance at Corza Medical Inc., a global medical device company, where she spearheaded several initiatives including the integration of acquired entities and enhanced functional reporting across jurisdictions, contributing to operational efficiencies, cost savings, and scalable growth.
+Added: Prior to joining Corza Medical, she held senior finance role at Atlas Corp.
+Added: ATCO), served as a Director of Operations at Sunesis Consulting accounting firm, and earlier in her career was an Audit Manager with PwC.
+Added: Mendesh holds a Master of Science in Accounting and Finance degree from Alliance Manchester Business School.
CORPORATE GOVERNANCE
51 unchanged sentences
These individuals are our named executive officers for 2025.
−Removed: Name and Principal Position Year Salary ($) Bonus ($) Stock
−Removed: (1) Other Annual
−Removed: ($) (2) Total ($)
+Added: Name and Principal Position
Frederick Vandenberg ( 2 ) , Director, President, Chief Executive Officer, and former Chief Financial Officer
−Removed: 2023 189,287 - - 8,363 16,173 213,823
Olya Massalitina ( 2 ) ( 4 )
−Removed: Chief Financial Officer 2023 17,320 - - 12,545 - 29,865
−Removed: (1) Option awards shown here represent the aggregate grant date fair value of all options granted.
+Added: Chief Financial Officer (resigned September 2024)
+Added: Assel Mendesh (2) (3)
+Added: Chief Financial Officer (appointed May 2025)
(1) The value of prerequisites and other personal benefits, securities and property for the individuals included in the summary compensation table that does not exceed $10,000 is not reported herein.
2 unchanged sentences
Where compensation was provided in Canadian dollars, compensation is based on an exchange rate of 0.7159 US dollars for each 1.00 Canadian dollar during the 2025 fiscal year and 0.7348 US dollars for each 1.00 Canadian dollar during the 2024 fiscal year.
−Removed: (4) Appointed April 2022.
+Added: (3) Appointed May 2025.
(4) Resigned effective September 2024
1 unchanged sentence
We are not party to any written employment agreement or change in control arrangements with Mr.
−Removed: Vandenberg and Mrs.
+Added: Vandenberg and Ms.
We do not have any agreements with Mr.
−Removed: Vandenberg and Mrs.
−Removed: Massalitina regarding the payments of bonus or other performance incentives.
−Removed: Vandenberg and Mrs.
−Removed: Massalitina are eligible to receive stock options as and when approved by our Board of Directors.
+Added: Vandenberg and Ms.
+Added: Mendesh regarding the payments of bonus or other performance incentives.
+Added: Vandenberg and Ms.
+Added: Mendesh are eligible to receive stock options as and when approved by our Board of Directors.
OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END
The following table summarizes equity awards granted to our named executive officers that were outstanding as of August 31, 2025:
−Removed: Name and Principal Position Number of
−Removed: Exercisable # Unexercisable Incentive Plan
−Removed: Options Weighted
+Added: Name and Principal Position
+Added: # Unexercisable
+Added: Incentive Plan
Average Option
1 unchanged sentence
Frederick Vandenberg,
−Removed: Chief Executive Officer 80.000 - - 1.50 31-Oct-2026
−Removed: 10,833 9,167 - 0.85 23-Jul-2028
−Removed: Olya Massalitina,
−Removed: Chief Financial Officer 16,250 13,750 - 0.85 23-Jul-2028
+Added: Chief Executive Officer
LONG-TERM INCENTIVE PLANS
7 unchanged sentences
As at August 31, 2025, an aggregate of 853,370 common shares remained eligible for issuance under the plans.
−Removed: The options generally vest over a range of periods from the date of grant, some are immediate, and others are 12 or 24 months.
+Added: The options generally vest over a range of periods from the date of grant, some are immediate, and others are at 24 months.
Any options that do not vest as the result of a grantee leaving the Company are forfeited and the common shares underlying them are returned to the reserve.
8 unchanged sentences
Unless otherwise indicated, the shareholders listed possess sole voting and investment power with respect to the shares shown.
−Removed: Common Stock Beneficially
−Removed: Owned Percentage of Shares
−Removed: Beneficially Owned (1)
−Removed: Name of beneficial owner # of Shares %
+Added: Common Stock Beneficially Owned
+Added: Percentage of Shares Beneficially Owned (1)
+Added: Name of beneficial owner
Hyonmyong Cho (2)
3 unchanged sentences
David Mossberg (6)
−Removed: Olya Massalitina(7) 3,750 *
+Added: Assel Mendesh (7)
All directors and executive officers as a group (6 persons)
25 unchanged sentences
Mossberg within 60 days of November 24, 2025.
−Removed: (7) Consists of 3,750 shares that are acquirable upon the exercise of stock options held by Mrs.
−Removed: Massalitina within 60 days of November 20, 2024.
+Added: (7) Consists of 1,708 shares acquired through the Employee Stock Purchase plan held by Ms.
(8) Consists of (i) 1,933,809 shares of the Company's common stock directly held by Mark Graber;
5 unchanged sentences
The following table summarizes information about our equity compensation plans as of August 31, 2024.
−Removed: Plan Category Number of Shares of
+Added: Plan Category
+Added: Number of Shares of
Common Stock to be
1 unchanged sentence
Outstanding Options
−Removed: (a) Weighted-Average
+Added: Weighted-Average
Exercise Price of
Outstanding Options
−Removed: (b) Number of Options
+Added: Number of Options
Remaining Available
5 unchanged sentences
Equity compensation plans not approved by stockholders
−Removed: Total 749,000 $ 1.30 781,000
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.
10 unchanged sentences
Such fees included work completed for our annual audit and for the review of our consolidated financial statements included in our Forms 10-K and 10-Q.
−Removed: The 2024 and 2023 audits were performed by Smythe LLP, the Company's current auditor, appointed as the Company's new independent registered public accounting firm on September 15, 2022.
+Added: The 2025 audit was performed by Davidson & Company, the Company's current auditor, appointed as the Company's new independent registered public accounting firm on May 28, 2025.
+Added: The 2024 audit was performed by Smythe LLP, the Company's predecessor auditor who resigned on May 28, 2025.
Audit Related Fees
+Added: For the fiscal year ended August 31, 2025 the Company incurred $5,727 in fees billed for tax compliance services provided by BHI Tax.
For the fiscal year ended August 31, 2024 the Company incurred $7,800 in fees billed for tax compliance services provided by Smythe LLP.
−Removed: For the fiscal year ended August 31, 2023 the Company incurred $7,800 in fees billed for tax compliance services provided by other consultants.
All Other Fees
29 unchanged sentences
Inline XBRL Instance Document–the instance document does not appear in the Interactive Data File as its XBRL tags are embedded within the Inline XBRL document
−Removed: 101.SCH* Inline XBRL Taxonomy Extension Schema Document
−Removed: 101.CAL* Inline XBRL Taxonomy Extension Calculation Linkbase Document
−Removed: 101.DEF* Inline XBRL Taxonomy Extension Definition Linkbase Document
−Removed: 101.LAB* Inline XBRL Taxonomy Extension Label Linkbase Document
−Removed: 101.PRE* Inline XBRL Taxonomy Extension Presentation Linkbase Document
+Added: Inline XBRL Taxonomy Extension Schema Document
+Added: Inline XBRL Taxonomy Extension Calculation Linkbase Document
+Added: Inline XBRL Taxonomy Extension Definition Linkbase Document
+Added: Inline XBRL Taxonomy Extension Label Linkbase Document
+Added: Inline XBRL Taxonomy Extension Presentation Linkbase Document
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
7 unchanged sentences
(Principal Executive Officer)
−Removed: November 20, 2024
+Added: Date:November 24, 2025
POWER OF ATTORNEY
2 unchanged sentences
/s/Frederick Vandenberg
−Removed: Frederick Vandenberg, President
+Added: Frederick Vandenberg
Chief Executive Officer (Principal Executive Officer)
−Removed: November 20, 2024
−Removed: /s/Frederick Vandenberg
−Removed: Frederick Vandenberg, CPA
−Removed: Chief Financial Officer, Treasurer
−Removed: (Principal Financing and Accounting Officer)
−Removed: November 20, 2024
+Added: Date:November 24, 2025
+Added: /s/Assel Mendesh
+Added: Assel Mendesh
+Added: Chief Financial Officer
+Added: Date:November 24, 2025
/s/ Hyonmyong Cho
Hyonmyong Cho
−Removed: November 20, 2024
+Added: Date:November 24, 2025
/s/ Samuel Jay Graber
Samuel Jay Graber
−Removed: November 20, 2024
+Added: Date:November 24, 2025
/s/ David Summers
David Summers
−Removed: November 20, 2024
+Added: Date:November 24, 2025
/s/ David Mossberg
David Mossberg
−Removed: November 20, 2024
+Added: Date:November 24, 2025
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.