v3.21.1
Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
Income Statement [Abstract]        
Revenues from licensing fees $ 2,000,000
Revenues from hydrocarbon sales 68,509 169,041
Production and maintenance costs (19,279) (728,309) (364,565) (1,405,772)
Advance royalty payments (111,591) (203,862)
Gross Profit (Loss) (19,279) (771,391) 1,635,435 (1,440,593)
Operating Expenses        
Depreciation, depletion and amortization 11,522 11,522 23,045 85,842
Selling, general and administrative expenses 706,427 1,545,023 1,751,284 3,927,105
Financing costs 743,601 479,548 1,364,988 988,842
Derivative liability movements (591,914) 695,432 (748,912) 659,885
Other expenses (income), net 145,393 (290,678) 689,852 (707,358)
Total expenses, net 1,015,029 2,440,847 3,080,257 4,954,316
Net loss before income taxes 1,034,308 3,212,238 1,444,822 6,394,909
Income tax expense
Net loss and comprehensive loss $ 1,034,308 $ 3,212,238 $ 1,444,822 $ 6,394,909
Weighted Average Number of Shares Outstanding – Basic and Diluted (in Shares) 401,858,398 202,239,760 353,952,701 197,106,454
Basic and Diluted Loss per Share (in Dollars per share) $ 0.00 $ 0.02 $ 0.00 $ 0.03

Source