v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
May 31, 2021
May 31, 2020
Cash flow used for operating activities:    
Net loss $ (6,383,060) $ (7,508,886)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion and amortization 34,428 97,365
Amortization of debt discount 1,265,729 1,040,789
Amortization of prepaid royalties 325,112
Loss on conversion of debt 397,090 53,129
Loss (gain) on settlement of liabilities 48,283 (659,770)
Loss on debt extinguishment 330,256
Share-based compensation 616,311 636,275
Shares issued for services 38,193
Mark to market of derivative liabilities 1,292,169 31,532
Impairment of investments 75,000
Other 34,805 (13,998)
Changes in operating assets and liabilities:    
Accounts payable 266,440 2,450,900
Accounts receivable (304,473) 127,183
Accrued expenses 1,736,025 796,009
Prepaid expenses and deposits 4,390 10,000
Inventory (79,977) 34,953
Net cash used in operating activities (741,584) (2,466,214)
Cash flows used for investing activities:    
Purchase and construction of property and equipment (1,789,922) (2,151,777)
Mineral rights deposits paid (610,000)
Investment in notes receivable (702,612)
Proceeds from notes receivable 1,125,522
Advance royalty payments (120,000)
Net cash used in investing activities (1,789,922) (2,458,867)
Cash flows from financing activities:    
Advances from related parties 54,640 358,960
Proceeds on private equity placements 601,949 2,208,374
Proceeds from warrants exercised 103,339
Proceeds from promissory notes 552,000 348,154
Proceeds from federal relief loans 267,716 267,490
Payments of debt (10,000)
Payment of finance lease liability (127,085) (114,458)
Proceeds from convertible debt 1,449,500 1,949,938
Repayments of convertible debt (115,749) (105,000)
Net cash from financing activities 2,776,310 4,913,458
Increase (decrease) in cash 244,804 (11,623)
Cash, beginning of the period 62,404 50,719
Cash, end of the period 307,208 39,096
Supplemental disclosure of cash flow information    
Cash paid for interest 217,740 101,899
Shares issued to settle liabilities 3,433,200 1,597,176
Shares issued on conversion of convertible debt 5,272,002 378,129
Shares issued to settle acquisition obligation 75,000
Fair value of warrants issued 841,233
Value of shares issued for convertible debt funding $ 589,252

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