Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash flow used for operating activities:    
Net loss $ (6,394,909) $ (8,552,976)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation, depletion and amortization 85,842 32,516
Amortization of debt discount 672,372 1,470,406
Loss on conversion of debt 99,548
(Gain) loss on settlement of liabilities (659,769) 18,136
Share-based compensation 35,443 61,198
Shares issued for services 407,216 610,826
Liabilities settled by issuance of share purchase warrants 383,496
Mark to market of derivative liabilities 659,885
Equity loss from investment in Accord GR Energy 100,000
Other 153,182 54,352
Changes in operating assets and liabilities:    
Accounts payable 2,427,654 2,138,284
Accounts receivable 127,183 235,000
Accrued expenses 34,953 (147,758)
Prepaid expenses and deposits 503,267 (493,972)
Inventory 7,000 181,254
Net cash used in operating activities (1,940,681) (3,809,690)
Cash flows used for investing activities:    
Purchase and construction of property and equipment (2,116,484) (7,203,834)
Mineral rights deposits paid (610,000) (1,800,000)
Investment in notes receivable (697,585) (2,492,000)
Proceeds from notes receivable 1,039,573 333,877
Advance royalty payments (100,000) (200,000)
Net cash used in investing activities (2,484,496) (11,361,957)
Cash flows from financing activities:    
Advances from related parties 249,621
Repayments to related parties (126,953)
Proceeds on private equity placements 2,277,814 8,091,453
Proceeds from promissory notes 181,689
Payments of long-term debt (103,203) (452,183)
Proceeds from long-term debt 517,000
Proceeds from convertible debt 1,894,938 5,618,750
Repayments of convertible debt (105,000) (400,000)
Net cash from financing activities 4,395,859 13,248,097
Decrease in cash (29,316) (1,923,550)
Cash, beginning of the period 50,719 2,640,001
Cash, end of the period 21,403 716,451
Supplemental disclosure of cash flow information    
Cash paid for interest 43,482 53,030
Shares issued to settle liabilities 1,597,176 1,868,272
Shares issued on conversion of convertible debt 200,000
Shares issued to settle acquisition obligation 75,000
Value of shares issued for convertible debt funding $ 495,310 $ 1,276,980