Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Aug. 31, 2020
Aug. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (4,654,862) $ (2,172,176)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 377,766 425,110
Depreciation 500 510
Change in fair value of derivative liabilities (29,501) (1,006,099)
Stock payable   100,000
Changes in operating assets and liabilities:    
Prepaid expenses (169,264) 27,048
Other receivable   13,340
Accounts payable and accrued liabilities 127,979 (180,409)
Net cash used in operating activities (4,347,382) (2,792,676)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment   (688)
Purchase of license   (1,500,000)
Net cash used in investing activities   (1,500,688)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from issuance of common shares for cash 1,977,691 8,376,379
Refund for fractional stock (108)  
Advance from related parties 7,863 18,276
Repayments to related parties (4,710) (17,228)
Net cash provided by financing activities 1,980,736 8,377,427
Effect of exchange rate changes on cash 84,753 2,478
Net change in cash and cash equivalents (2,281,893) 4,086,541
Cash and cash equivalents - beginning of period 4,423,965 337,424
Cash and cash equivalents - end of period 2,142,072 4,423,965
Supplemental Cash Flow    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Reclass of warrant derivative liability from equity   1,035,600
Common shares issued for deposit of exercise of the license   539,417
Share issuance for price protection   $ 13
Common shares issued for acquisition of license offset against stock payable 539,417  
Common shares issued for settlement of stock payable 100,000  
Additional issuance of Series D shares per the terms of the subscription agreements 7  
Cancellation of common shares $ 6