Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Cash flow used for operating activities:    
Net loss $ (15,787,886) $ (15,641,029)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion and amortization 73,650 51,181
Amortization of debt discount 1,217,340
Loss on conversion of debt 99,548 95,444
Impairment of investment in Accord GR Energy and Recruiter.com 914,468
Loss on settlement of liabilities 434,933 92,275
Share-based compensation 916,240 5,980,322
Shares issued for services 470,602
Equity loss from investment in Accord GR Energy 160,426
Other 218,386 1,579
Changes in operating assets and liabilities:    
Accounts payable 3,474,380 1,891,383
Accounts receivable 225,000 (454,104)
Accrued expenses (235,765) 11,164
Prepaid expenses and deposits 129,568 (238,869)
Inventory (22,198) (193,632)
Net cash used for operating activities (7,871,734) (8,243,860)
Cash flows used for investing activities:    
Purchase and construction of property and equipment (7,932,937) (6,314,457)
Purchase of mineral lease rights (1,800,000) (19,755)
Mineral rights deposits paid (1,297,000)
Investment in notes receivable (2,694,000)
Proceeds from notes receivable 1,043,500
Advance royalty payments - net (360,000) (534,296)
Net cash used for investing activities (13,040,437) (6,868,508)
Cash flows from financing activities:    
Advances from related parties 347,256 838,846
Proceeds on private equity placements 12,177,514 15,911,409
Proceeds from share purchase warrants exercised 552,335
Payments of long-term debt (546,611) (4,685,836)
Proceeds from long-term debt 517,000 4,830,195
Proceeds from convertible debt 6,227,730 250,000
Proceeds from convertible debt (400,000)
Net cash from financing activities 18,322,889 17,696,949
(Decrease) Increase in cash (2,589,282) 2,584,581
Cash, beginning of the period 2,640,001 55,420
Cash, end of the period 50,719 2,640,001
Supplemental disclosure of cash flow information    
Cash paid for interest $ 19,700 $ 44,997