on june 25 , 2019 , the company sold an aggregate of 1,300,813 units with each unit consisting of one ( 1 ) share of the company 's common stock , par value $ 0.001 per share and a warrant to purchase one ( 1 ) share of common stock at an exercise price equal to $ 6.4575 per share . in relation to the offering described above , the company also agreed to issue to the underwriters warrants to purchase total of 104,065 shares of common stock ( 8 % of the shares of common stock sold in the offering ) . the underwriter 's warrants are exercisable at $ 6.765 per share of common stock and have a term of three years . the warrants were issued for services provided by the underwriters . a summary of activity of the warrants during the years ended august 31 , 2020 and 2019 follows : replace_table_token_11_th the intrinsic value of the warrants as of august 31 , 2020 and 2019 is $ 0 . all of the outstanding warrants are exercisable as of august 31 , 2020 . 2018 equity incentive plan on august 17 , 2018 , the board of directors of the company approved the equity incentive plan ( the “ 2018 plan ” ) . the 2018 plan permits the company to issue up to 375,000 shares of common stock upon exercise of options granted to selected employees , officers , directors , consultants and advisers . the options may be either “ incentive stock options ” ( as such term is defined in the internal revenue code of 1986 ) or non-statutory stock options that are not intended to qualify as “ incentive stock options ” . incentive stock options may be granted only to employees . the 2018 plan is administered by the board or , at the discretion of the board , a board committee . the administrator determines who will receive options and the terms of the options , including the exercise price , expiration date , vesting and the number of shares . the exercise price of each stock option may not be less than the fair market value of the common stock on the date of grant , although the exercise price of any incentive stock option granted to a 10 % stockholder may not be less than 110 % of the fair market value on the grant date . options may be exercisable ( “ vest ” ) immediately or in increments based on time and or performance criteria as determined by the administrator . the term of any option may not exceed 10 years ( five years for any incentive stock option granted to a 10 % stockholder ) , and unless otherwise determined by the administrator , each option must terminate no later than three months after the termination of the optionee 's employment ( one year in the event of death or disability ) . subject to a few minor exceptions , options may not be transferred other than by will or by the laws of descent and distribution . the 2018 plan will expire on august 17 , 2028. the plan was increased to permit the issuance of 425,000 and 748,738 shares of common stock on june 19 , 2020 and september 1 , 2020 , respectively . as of september 1 , 2020 , the 2018 plan permits the company to issue up to 1,548,738 shares of common stock . f-14 on august 17 , 2018 , the company granted options to directors and consultants to purchase an aggregate of 50,000 shares of our common stock at a price of $ 10.8 per share with a various vesting schedule . the options expire august 17 , 2028 , unless such director and consultants ceases his or her service as a director or consultant prior the exercise or expiration of the option . on july 18 , 2019 , the company granted options to a consultant to purchase 2,500 shares of our common stock at a price of $ 3.12 per share . the options are immediately vested and expire july 18 , 2029. on august 29 , 2019 , the company granted options to officers and directors to purchase an aggregate of 181,500 shares of our common stock at a price of $ 1.99 per share with a various vesting schedule . the options expire august 29 , 2029. on december 2 , 2019 , 22,250 shares of common stock previously granted to a director of the company in the form of story_separator_special_tag results of operations the following summary of our results of operations , for the year ended august 31 , 2020 and 2019 , should be read in conjunction with our audited financial statements , as included in this form 10-k. our company does not have any revenue . we classify our operating expenses into research and development , professional fees , and selling , general and administrative expenses . research and development expense consists of expenses incurred while performing research and development activities to discover and develop our product candidates . this includes conducting preclinical studies and clinical trials , development efforts and activities related to regulatory filings for product candidates . we recognize research and development expenses as they are incurred . 48 we expect we will require additional capital to meet our long-term operating requirements . we expect to raise additional capital through , among other things , the sale of equity or debt securities , but we can not guarantee that we will be able to achieve same . the following table provides selected financial data about the company as of august 31 , 2020 and 2019. balance sheet data replace_table_token_1_th we have not generated any revenues since inception through august 31 , 2020. the decrease in cash was primarily due to an increase in r & d expense and other operating expenses . for the year ended august story_separator_special_tag on june 25 , 2019 , the company sold an aggregate of 1,300,813 units with each unit consisting of one ( 1 ) share of the company 's common stock , par value $ 0.001 per share and a warrant to purchase one ( 1 ) share of common stock at an exercise price equal to $ 6.4575 per share . in relation to the offering described above , the company also agreed to issue to the underwriters warrants to purchase total of 104,065 shares of common stock ( 8 % of the shares of common stock sold in the offering ) . the underwriter 's warrants are exercisable at $ 6.765 per share of common stock and have a term of three years . the warrants were issued for services provided by the underwriters . a summary of activity of the warrants during the years ended august 31 , 2020 and 2019 follows : replace_table_token_11_th the intrinsic value of the warrants as of august 31 , 2020 and 2019 is $ 0 . all of the outstanding warrants are exercisable as of august 31 , 2020 . 2018 equity incentive plan on august 17 , 2018 , the board of directors of the company approved the equity incentive plan ( the “ 2018 plan ” ) . the 2018 plan permits the company to issue up to 375,000 shares of common stock upon exercise of options granted to selected employees , officers , directors , consultants and advisers . the options may be either “ incentive stock options ” ( as such term is defined in the internal revenue code of 1986 ) or non-statutory stock options that are not intended to qualify as “ incentive stock options ” . incentive stock options may be granted only to employees . the 2018 plan is administered by the board or , at the discretion of the board , a board committee . the administrator determines who will receive options and the terms of the options , including the exercise price , expiration date , vesting and the number of shares . the exercise price of each stock option may not be less than the fair market value of the common stock on the date of grant , although the exercise price of any incentive stock option granted to a 10 % stockholder may not be less than 110 % of the fair market value on the grant date . options may be exercisable ( “ vest ” ) immediately or in increments based on time and or performance criteria as determined by the administrator . the term of any option may not exceed 10 years ( five years for any incentive stock option granted to a 10 % stockholder ) , and unless otherwise determined by the administrator , each option must terminate no later than three months after the termination of the optionee 's employment ( one year in the event of death or disability ) . subject to a few minor exceptions , options may not be transferred other than by will or by the laws of descent and distribution . the 2018 plan will expire on august 17 , 2028. the plan was increased to permit the issuance of 425,000 and 748,738 shares of common stock on june 19 , 2020 and september 1 , 2020 , respectively . as of september 1 , 2020 , the 2018 plan permits the company to issue up to 1,548,738 shares of common stock . f-14 on august 17 , 2018 , the company granted options to directors and consultants to purchase an aggregate of 50,000 shares of our common stock at a price of $ 10.8 per share with a various vesting schedule . the options expire august 17 , 2028 , unless such director and consultants ceases his or her service as a director or consultant prior the exercise or expiration of the option . on july 18 , 2019 , the company granted options to a consultant to purchase 2,500 shares of our common stock at a price of $ 3.12 per share . the options are immediately vested and expire july 18 , 2029. on august 29 , 2019 , the company granted options to officers and directors to purchase an aggregate of 181,500 shares of our common stock at a price of $ 1.99 per share with a various vesting schedule . the options expire august 29 , 2029. on december 2 , 2019 , 22,250 shares of common stock previously granted to a director of the company in the form of story_separator_special_tag results of operations the following summary of our results of operations , for the year ended august 31 , 2020 and 2019 , should be read in conjunction with our audited financial statements , as included in this form 10-k. our company does not have any revenue . we classify our operating expenses into research and development , professional fees , and selling , general and administrative expenses . research and development expense consists of expenses incurred while performing research and development activities to discover and develop our product candidates . this includes conducting preclinical studies and clinical trials , development efforts and activities related to regulatory filings for product candidates . we recognize research and development expenses as they are incurred . 48 we expect we will require additional capital to meet our long-term operating requirements . we expect to raise additional capital through , among other things , the sale of equity or debt securities , but we can not guarantee that we will be able to achieve same . the following table provides selected financial data about the company as of august 31 , 2020 and 2019. balance sheet data replace_table_token_1_th we have not generated any revenues since inception through august 31 , 2020. the decrease in cash was primarily due to an increase in r & d expense and other operating expenses . for the year ended august

liquidity and capital resources liquidity is the ability of a company to generate funds to support its current and future operations , satisfy its obligations and otherwise operate on an ongoing basis . we incurred a net loss of $ 4,654,862 and $ 2,172,176 for the years ended august 31 , 2020 and 2019 , respectively . as of august 31 , 2020 , we had cash and cash equivalents of $ 2.1 million . we anticipate that operating losses and net cash used in operating activities will increase over the next few years as we advance our programs under development . as of august 31 , 2020 , the company had an accumulated deficit of $ 9,465,618 and working capital of $ 1,835,022. as of august 31 , 2020 , we had cash and cash equivalents of $ 2.1 million . during the year ended august 31 , 2020 , 1,518,354 shares were sold in connection with the company 's at-the-market equity program for proceeds net of offering costs of $ 1.9 million . in addition , in october 2020 we raised an additional $ 6.6 million in net proceeds through a public offering . as such , we believe our cash and cash equivalents , including the proceeds received in october 2020 , will be sufficient to fund our operations for at least the next 12 months following filing date of this annual report on form 10-k. working capital replace_table_token_3_th cash flows replace_table_token_4_th our total current assets as of august 31 , 2020 were $ 2,337,199 as compared to total current assets of $ 4,442,588 as of august 31 , 2019. the decrease in current assets is primarily due to the increase in operating expenses during the year ended august 31 , 2020. our total current liabilities as of august


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources liquidity is the ability of a company to generate funds to support its current and future operations , satisfy its obligations and otherwise operate on an ongoing basis . we incurred a net loss of $ 4,654,862 and $ 2,172,176 for the years ended august 31 , 2020 and 2019 , respectively . as of august 31 , 2020 , we had cash and cash equivalents of $ 2.1 million . we anticipate that operating losses and net cash used in operating activities will increase over the next few years as we advance our programs under development . as of august 31 , 2020 , the company had an accumulated deficit of $ 9,465,618 and working capital of $ 1,835,022. as of august 31 , 2020 , we had cash and cash equivalents of $ 2.1 million . during the year ended august 31 , 2020 , 1,518,354 shares were sold in connection with the company 's at-the-market equity program for proceeds net of offering costs of $ 1.9 million . in addition , in october 2020 we raised an additional $ 6.6 million in net proceeds through a public offering . as such , we believe our cash and cash equivalents , including the proceeds received in october 2020 , will be sufficient to fund our operations for at least the next 12 months following filing date of this annual report on form 10-k. working capital replace_table_token_3_th cash flows replace_table_token_4_th our total current assets as of august 31 , 2020 were $ 2,337,199 as compared to total current assets of $ 4,442,588 as of august 31 , 2019. the decrease in current assets is primarily due to the increase in operating expenses during the year ended august 31 , 2020. our total current liabilities as of august
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 Suspicious Activity Report : on june 25 , 2019 , the company sold an aggregate of 1,300,813 units with each unit consisting of one ( 1 ) share of the company 's common stock , par value $ 0.001 per share and a warrant to purchase one ( 1 ) share of common stock at an exercise price equal to $ 6.4575 per share . in relation to the offering described above , the company also agreed to issue to the underwriters warrants to purchase total of 104,065 shares of common stock ( 8 % of the shares of common stock sold in the offering ) . the underwriter 's warrants are exercisable at $ 6.765 per share of common stock and have a term of three years . the warrants were issued for services provided by the underwriters . a summary of activity of the warrants during the years ended august 31 , 2020 and 2019 follows : replace_table_token_11_th the intrinsic value of the warrants as of august 31 , 2020 and 2019 is $ 0 . all of the outstanding warrants are exercisable as of august 31 , 2020 . 2018 equity incentive plan on august 17 , 2018 , the board of directors of the company approved the equity incentive plan ( the “ 2018 plan ” ) . the 2018 plan permits the company to issue up to 375,000 shares of common stock upon exercise of options granted to selected employees , officers , directors , consultants and advisers . the options may be either “ incentive stock options ” ( as such term is defined in the internal revenue code of 1986 ) or non-statutory stock options that are not intended to qualify as “ incentive stock options ” . incentive stock options may be granted only to employees . the 2018 plan is administered by the board or , at the discretion of the board , a board committee . the administrator determines who will receive options and the terms of the options , including the exercise price , expiration date , vesting and the number of shares . the exercise price of each stock option may not be less than the fair market value of the common stock on the date of grant , although the exercise price of any incentive stock option granted to a 10 % stockholder may not be less than 110 % of the fair market value on the grant date . options may be exercisable ( “ vest ” ) immediately or in increments based on time and or performance criteria as determined by the administrator . the term of any option may not exceed 10 years ( five years for any incentive stock option granted to a 10 % stockholder ) , and unless otherwise determined by the administrator , each option must terminate no later than three months after the termination of the optionee 's employment ( one year in the event of death or disability ) . subject to a few minor exceptions , options may not be transferred other than by will or by the laws of descent and distribution . the 2018 plan will expire on august 17 , 2028. the plan was increased to permit the issuance of 425,000 and 748,738 shares of common stock on june 19 , 2020 and september 1 , 2020 , respectively . as of september 1 , 2020 , the 2018 plan permits the company to issue up to 1,548,738 shares of common stock . f-14 on august 17 , 2018 , the company granted options to directors and consultants to purchase an aggregate of 50,000 shares of our common stock at a price of $ 10.8 per share with a various vesting schedule . the options expire august 17 , 2028 , unless such director and consultants ceases his or her service as a director or consultant prior the exercise or expiration of the option . on july 18 , 2019 , the company granted options to a consultant to purchase 2,500 shares of our common stock at a price of $ 3.12 per share . the options are immediately vested and expire july 18 , 2029. on august 29 , 2019 , the company granted options to officers and directors to purchase an aggregate of 181,500 shares of our common stock at a price of $ 1.99 per share with a various vesting schedule . the options expire august 29 , 2029. on december 2 , 2019 , 22,250 shares of common stock previously granted to a director of the company in the form of story_separator_special_tag results of operations the following summary of our results of operations , for the year ended august 31 , 2020 and 2019 , should be read in conjunction with our audited financial statements , as included in this form 10-k. our company does not have any revenue . we classify our operating expenses into research and development , professional fees , and selling , general and administrative expenses . research and development expense consists of expenses incurred while performing research and development activities to discover and develop our product candidates . this includes conducting preclinical studies and clinical trials , development efforts and activities related to regulatory filings for product candidates . we recognize research and development expenses as they are incurred . 48 we expect we will require additional capital to meet our long-term operating requirements . we expect to raise additional capital through , among other things , the sale of equity or debt securities , but we can not guarantee that we will be able to achieve same . the following table provides selected financial data about the company as of august 31 , 2020 and 2019. balance sheet data replace_table_token_1_th we have not generated any revenues since inception through august 31 , 2020. the decrease in cash was primarily due to an increase in r & d expense and other operating expenses . for the year ended august story_separator_special_tag on june 25 , 2019 , the company sold an aggregate of 1,300,813 units with each unit consisting of one ( 1 ) share of the company 's common stock , par value $ 0.001 per share and a warrant to purchase one ( 1 ) share of common stock at an exercise price equal to $ 6.4575 per share . in relation to the offering described above , the company also agreed to issue to the underwriters warrants to purchase total of 104,065 shares of common stock ( 8 % of the shares of common stock sold in the offering ) . the underwriter 's warrants are exercisable at $ 6.765 per share of common stock and have a term of three years . the warrants were issued for services provided by the underwriters . a summary of activity of the warrants during the years ended august 31 , 2020 and 2019 follows : replace_table_token_11_th the intrinsic value of the warrants as of august 31 , 2020 and 2019 is $ 0 . all of the outstanding warrants are exercisable as of august 31 , 2020 . 2018 equity incentive plan on august 17 , 2018 , the board of directors of the company approved the equity incentive plan ( the “ 2018 plan ” ) . the 2018 plan permits the company to issue up to 375,000 shares of common stock upon exercise of options granted to selected employees , officers , directors , consultants and advisers . the options may be either “ incentive stock options ” ( as such term is defined in the internal revenue code of 1986 ) or non-statutory stock options that are not intended to qualify as “ incentive stock options ” . incentive stock options may be granted only to employees . the 2018 plan is administered by the board or , at the discretion of the board , a board committee . the administrator determines who will receive options and the terms of the options , including the exercise price , expiration date , vesting and the number of shares . the exercise price of each stock option may not be less than the fair market value of the common stock on the date of grant , although the exercise price of any incentive stock option granted to a 10 % stockholder may not be less than 110 % of the fair market value on the grant date . options may be exercisable ( “ vest ” ) immediately or in increments based on time and or performance criteria as determined by the administrator . the term of any option may not exceed 10 years ( five years for any incentive stock option granted to a 10 % stockholder ) , and unless otherwise determined by the administrator , each option must terminate no later than three months after the termination of the optionee 's employment ( one year in the event of death or disability ) . subject to a few minor exceptions , options may not be transferred other than by will or by the laws of descent and distribution . the 2018 plan will expire on august 17 , 2028. the plan was increased to permit the issuance of 425,000 and 748,738 shares of common stock on june 19 , 2020 and september 1 , 2020 , respectively . as of september 1 , 2020 , the 2018 plan permits the company to issue up to 1,548,738 shares of common stock . f-14 on august 17 , 2018 , the company granted options to directors and consultants to purchase an aggregate of 50,000 shares of our common stock at a price of $ 10.8 per share with a various vesting schedule . the options expire august 17 , 2028 , unless such director and consultants ceases his or her service as a director or consultant prior the exercise or expiration of the option . on july 18 , 2019 , the company granted options to a consultant to purchase 2,500 shares of our common stock at a price of $ 3.12 per share . the options are immediately vested and expire july 18 , 2029. on august 29 , 2019 , the company granted options to officers and directors to purchase an aggregate of 181,500 shares of our common stock at a price of $ 1.99 per share with a various vesting schedule . the options expire august 29 , 2029. on december 2 , 2019 , 22,250 shares of common stock previously granted to a director of the company in the form of story_separator_special_tag results of operations the following summary of our results of operations , for the year ended august 31 , 2020 and 2019 , should be read in conjunction with our audited financial statements , as included in this form 10-k. our company does not have any revenue . we classify our operating expenses into research and development , professional fees , and selling , general and administrative expenses . research and development expense consists of expenses incurred while performing research and development activities to discover and develop our product candidates . this includes conducting preclinical studies and clinical trials , development efforts and activities related to regulatory filings for product candidates . we recognize research and development expenses as they are incurred . 48 we expect we will require additional capital to meet our long-term operating requirements . we expect to raise additional capital through , among other things , the sale of equity or debt securities , but we can not guarantee that we will be able to achieve same . the following table provides selected financial data about the company as of august 31 , 2020 and 2019. balance sheet data replace_table_token_1_th we have not generated any revenues since inception through august 31 , 2020. the decrease in cash was primarily due to an increase in r & d expense and other operating expenses . for the year ended august

