Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($) |
3 Months Ended | |
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Nov. 30, 2020 |
Nov. 30, 2019 |
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Income Statement [Abstract] | ||
Revenue from Licensing fees | $ 2,000,000 | |
Revenues from hydrocarbon sales | 100,532 | |
Production and maintenance costs | (345,286) | (677,463) |
Advance royalty payments applied or expired | (92,271) | |
Gross Profit (Loss) | 1,654,714 | (669,202) |
Expenses | ||
Depreciation, depletion and amortization | 11,523 | 74,320 |
Selling, general and administrative expenses | 1,044,857 | 2,382,082 |
Financing costs | 621,387 | 509,294 |
Mark to market of derivative liability | (156,998) | (35,547) |
Other expense (income), net | 544,459 | (416,680) |
Total Expenses, net | 2,065,228 | 2,513,469 |
Net loss before income taxes | 410,514 | 3,182,671 |
Income tax expense | ||
Net loss and Comprehensive loss | $ 410,514 | $ 3,182,671 |
Weighted Average Number of Shares Outstanding (in Shares) | 302,133,325 | 191,973,146 |
Basic and Diluted Loss per Share (in Dollars per share) | $ 0.00 | $ 0.02 |
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- Definition Advanced royalty payments and production expenses. No definition available.
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- Definition Financing costs net. No definition available.
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- Definition Mark to market of derivative liabilities. No definition available.
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- Definition Amount of expense related to the production and maintenance of goods or services to customers and clients. No definition available.
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- Definition Amount related to revenue from licensing fees. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition Amount of expense charged against earnings to allocate the cost of tangible and intangible assets over their remaining economic lives, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of other expense (income) that is infrequent in occurrence or unusual in nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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