Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Loss and Comprehensive Loss

v3.21.2
Consolidated Statements of Loss and Comprehensive Loss - USD ($)
12 Months Ended
Aug. 31, 2021
Aug. 31, 2020
Income Statement [Abstract]    
Revenue from licensing fees $ 2,000,000
Revenues from hydrocarbon sales 290,809
Production and maintenance costs (2,091,352) (1,713,638)
Advance royalty payments applied or expired (988,029)
Gross Loss (91,352) (2,410,858)
Expenses    
Depreciation, depletion and amortization 45,810 103,888
Selling, general and administrative expenses 4,218,624 6,183,745
Financing costs 4,727,580 2,671,611
Impairment of investments 75,000
Other expenses (income), net 1,563,902 746,564
Derivative liability movements (1,173,025) 187,401
Total Expenses, net 9,382,891 9,968,209
Net loss before income taxes 9,474,243 12,379,067
Income tax expense
Net loss and Comprehensive loss $ 9,474,243 $ 12,379,067
Weighted Average Number of Shares Outstanding (in Shares) 419,251,881 201,401,437
Basic and Diluted Loss per Share (in Dollars per share) $ (0.02) $ (0.06)