Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 3 Months Ended
Nov. 30, 2019
Segment Reporting [Abstract]  
SEGMENT INFORMATION
24. SEGMENT INFORMATION

The Company operated in two reportable segments within the USA during the three months ended November 30, 2019 and 2018, oil extraction and processing operations and mining operations.


The presentation of the consolidated statements of loss and comprehensive loss provides information about the oil extraction and processing segment. There were limited operations in the mining operations segment during the three months ended November 30, 2019 and 2018.


Other information about reportable segments are: 


    November 30, 2019  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 1,893     $ -     $ 1,893  
Reportable segment assets     40,918       34,794       75,712  
Reportable segment liabilities   $ 13,113     $ 3,970     $ 17,083  

    November 30, 2018  
    Oil     Mining        
(in ’000s of dollars)   Extraction     Operations     Consolidated  
Additions to non-current assets   $ 4,755     $ -     $ 4,755  
Reportable segment assets     34,105       9,012       43,117  
Reportable segment liabilities   $ 9,011     $ 169     $ 9,180  

    November 30, 2019  
(in ’000s of dollars)   Oil Extraction     Mining operations     Consolidated  
                   
Revenues from hydrocarbon sales   $ 101     $ -     $ 101  
Other production and maintenance costs     678       -       678  
Advance royalty payments     -       92       92  
Gross Loss     (577 )     (92 )     (669 )
Expenses                        
Depreciation, depletion and amortization     74       -       74  
Selling, general and administrative expenses     2,379       3       2,382  
Investor relations     24       -       24  
Professional fees     1,026       1       1,027  
Salaries and wages     200       -       200  
Share-based compensation     178       -       178  
Travel and promotional expenses     571       -       571  
Other     380       2       382  
                         
Financing costs, net     509       -       509  
Other income     (416 )     -       (416 )
Gain on settlement of liabilities     (394 )     -       (394 )
Interest income     (22 )     -       (22 )
Derivative liability movements     (35 )     -       (35 )
Net loss   $ 3,088     $ 95     $ 3,183  

    November 30, 2018  
(in ’000s of dollars)   Oil Extraction     Mining operations     Consolidated  
                   
Revenues from hydrocarbon sales   $ -     $ -     $ -  
Advance royalty payments     -       34       34  
Gross Loss     -       (34 )     (34 )
Expenses                        
Depreciation, depletion and amortization     16       -       16  
Selling, general and administrative expenses     3,804       1       3,805  
Professional fees     2,191       -       2,191  
Research and development expenses     112       -       112  
Salaries and wages     237       -       237  
Share-based compensation     229       -       229  
Travel and promotional expenses     844       -       844  
Other     191       1       192  
                         
Financing costs, net     478       -       478  
Other expense (income)     546       -       546  
Loss on settlement of liabilities     493       -       493  
Loss on settlement of convertible debt     79               79  
Interest income     (26 )     -       (26 )
Equity loss from investment of Accord GR Energy, net of tax     50       -       50  
Net loss   $ 4,894     $ 35     $ 4,929