v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Cash flow used for operating activities:    
Net loss $ (1,444,822) $ (6,394,909)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion and amortization 23,045 85,842
Amortization of debt discount 771,892 672,372
Loss on conversion of debt 313,198
Loss (gain) on settlement of liabilities 48,283 (659,769)
Loss on debt extinguishment 330,256
Share-based compensation 458,143 35,443
Shares issued for services 407,216
Mark to market of derivative liabilities (748,812) 659,885
Other 11,298 153,182
Changes in operating assets and liabilities:    
Accounts payable (103,742) 2,427,654
Accounts receivable (304,473) 127,183
Accrued expenses 464,102 34,953
Prepaid expenses and deposits 4,043 503,267
Inventory (12,501) 7,000
Net cash used in operating activities (190,190) (1,940,681)
Cash flows used for investing activities:    
Purchase and construction of property and equipment (1,673,448) (2,116,484)
Mineral rights deposits paid (610,000)
Investment in notes receivable (697,585)
Proceeds from notes receivable 1,039,573
Advance royalty payments (100,000)
Net cash used in investing activities (1,673,448) (2,484,496)
Cash flows from financing activities:    
Advances from related parties 249,621
Repayments to related parties (22,755)
Proceeds on private equity placements 546,923 2,277,814
Proceeds from warrants exercised 103,339
Proceeds from promissory notes 42,000 181,689
Proceeds from federal relief loans 267,716
Payments of debt (10,000) (103,203)
Payment of finance lease liability (83,473)
Proceeds from convertible debt 1,219,500 1,894,938
Repayments of convertible debt (100,000) (105,000)
Net cash from financing activities 1,963,250 4,395,859
Increase (decrease) in cash 99,612 (29,316)
Cash, beginning of the period 62,404 50,719
Cash, end of the period 162,016 21,403
Supplemental disclosure of cash flow information    
Cash paid for interest 197,872 43,482
Shares issued to settle liabilities 3,481,483 1,597,176
Shares issued on conversion of convertible debt 2,503,982 200,000
Shares issued to settle acquisition obligation 75,000
Fair value of warrants issued 788,777
Value of shares issued for convertible debt funding $ 495,310

Source