SEGMENT INFORMATION |
The Company operated in two reportable segments within the USA during the six months ended February 29, 2020 and February 28, 2019, 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 six months ended February 29, 2020 and February 28, 2019.
Other information about reportable segments are:
|
|
February 29, 2020 |
|
|
|
Oil |
|
|
Mining |
|
|
|
|
(in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
Additions to non-current assets |
|
$ |
2,116 |
|
|
$ |
610 |
|
|
$ |
2,726 |
|
Reportable segment assets |
|
|
41,123 |
|
|
|
34,025 |
|
|
|
75,148 |
|
Reportable segment liabilities |
|
$ |
17,636 |
|
|
$ |
1,000 |
|
|
$ |
18,636 |
|
|
|
February 28, 2019 |
|
|
|
Oil |
|
|
Mining |
|
|
|
|
(in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
Additions to non-current assets |
|
$ |
7,204 |
|
|
$ |
1,800 |
|
|
$ |
9,004 |
|
Reportable segment assets |
|
|
36,516 |
|
|
|
10,747 |
|
|
|
47,263 |
|
Reportable segment liabilities |
|
$ |
9,247 |
|
|
$ |
169 |
|
|
$ |
9,416 |
|
|
|
February 29, 2020 |
|
(in ’000s of dollars) |
|
Oil Extraction |
|
|
Mining operations |
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
Revenues from hydrocarbon sales |
|
$ |
110 |
|
|
$ |
59 |
|
|
$ |
169 |
|
Other production and maintenance costs |
|
|
1,406 |
|
|
|
— |
|
|
|
1,406 |
|
Advance royalty payments |
|
|
— |
|
|
|
204 |
|
|
|
204 |
|
Gross Loss |
|
|
(1,296 |
) |
|
|
(145 |
) |
|
|
(1,441 |
) |
Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, depletion and amortization |
|
|
86 |
|
|
|
— |
|
|
|
86 |
|
Selling, general and administrative expenses |
|
|
3,924 |
|
|
|
3 |
|
|
|
3,927 |
|
Investor relations |
|
|
41 |
|
|
|
— |
|
|
|
41 |
|
Professional fees |
|
|
1,572 |
|
|
|
1 |
|
|
|
1,573 |
|
Salaries and wages |
|
|
495 |
|
|
|
— |
|
|
|
495 |
|
Share-based compensation |
|
|
407 |
|
|
|
— |
|
|
|
407 |
|
Travel and promotional expenses |
|
|
632 |
|
|
|
— |
|
|
|
632 |
|
Other |
|
|
777 |
|
|
|
2 |
|
|
|
779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing costs, net |
|
|
989 |
|
|
|
— |
|
|
|
989 |
|
Other income |
|
|
(707 |
) |
|
|
— |
|
|
|
(707 |
) |
Loss on settlement of liabilities |
|
|
(428 |
) |
|
|
— |
|
|
|
(428 |
) |
Loss on settlement of convertible debt |
|
|
(232 |
) |
|
|
— |
|
|
|
(232 |
) |
Interest income |
|
|
(47 |
) |
|
|
— |
|
|
|
(47 |
) |
Derivative liability movements |
|
|
659 |
|
|
|
— |
|
|
|
659 |
|
Net loss |
|
$ |
6,247 |
|
|
$ |
148 |
|
|
$ |
6,395 |
|
|
|
February 28, 2019 |
|
(in ’000s of dollars) |
|
Oil Extraction |
|
|
Mining operations |
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
Revenues from hydrocarbon sales |
|
$ |
21 |
|
|
$ |
— |
|
|
$ |
21 |
|
Advance royalty payments |
|
|
64 |
|
|
|
107 |
|
|
|
171 |
|
Gross Loss |
|
|
(43 |
) |
|
|
(107 |
) |
|
|
(150 |
) |
Operating Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, depletion and amortization |
|
|
33 |
|
|
|
— |
|
|
|
33 |
|
Selling, general and administrative expenses |
|
|
6,558 |
|
|
|
13 |
|
|
|
6,571 |
|
Professional fees |
|
|
3,246 |
|
|
|
— |
|
|
|
3,246 |
|
Research and development expenses |
|
|
113 |
|
|
|
— |
|
|
|
113 |
|
Salaries and wages |
|
|
530 |
|
|
|
— |
|
|
|
530 |
|
Share-based compensation expenses |
|
|
611 |
|
|
|
— |
|
|
|
611 |
|
Travel and promotional expenses |
|
|
1,702 |
|
|
|
— |
|
|
|
1,702 |
|
Other |
|
|
356 |
|
|
|
13 |
|
|
|
369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing costs, net |
|
|
1,640 |
|
|
|
— |
|
|
|
1,640 |
|
Loss on settlement of liabilities |
|
|
18 |
|
|
|
— |
|
|
|
18 |
|
Loss on settlement of convertible debt |
|
|
100 |
|
|
|
— |
|
|
|
100 |
|
Other income |
|
|
(59 |
) |
|
|
— |
|
|
|
(59 |
) |
Equity loss from investment of Accord Gr Energy, net of tax |
|
|
100 |
|
|
|
— |
|
|
|
100 |
|
Net loss |
|
$ |
8,433 |
|
|
$ |
120 |
|
|
$ |
8,553 |
|
|