Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited)

v3.21.2
Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Nov. 30, 2020
Nov. 30, 2019
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