Transition report pursuant to Rule 13a-10 or 15d-10

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 4 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Aug. 31, 2021
Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss $ (4,035,000) $ (2,065,000) $ (7,437,000) $ (4,655,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock based compensation 934,000 70,000 1,531,000 381,000
Net change in fair value of marketable securities (6,000) 0 (2,000) 0
Change in fair value of derivative liabilities 0 0 0 (30,000)
Non-cash lease expense 10,000 0 7,000 0
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets (63,000) (323,000) (239,000) (171,000)
Accounts payable and accrued liabilities 507,000 444,000 (3,000) 128,000
Accounts payable - related party (7,000) 0 0 0
Cash payments on operating lease (7,000)   (2,000)  
Net cash used in operating activities (2,667,000) (1,874,000) (6,141,000) (4,347,000)
CASH FLOWS FROM INVESTING ACTIVITIES        
Investment in trading marketable securities (11,243,000) (1,753,000) (6,098,000) 0
Investment in available-for-sale securities (1,524,000)      
Proceeds from disposition of marketable securities 2,734,000 698,000 2,659,000 0
Net cash used in investing activities (10,033,000) (1,055,000) (3,439,000) 0
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from issuance of common shares for cash, net 18,262,000 6,578,000 8,103,000 1,978,000
Proceeds from exercise of warrants 0 0 6,016,000 0
Advances from related parties 0 1,000 1,000 8,000
Repayments to related parties (1,000) (1,000) (8,000) (5,000)
Net cash provided by financing activities 18,261,000 6,578,000 14,112,000 1,981,000
Effect of exchange rate changes on cash (28,000) (8,000) (45,000) 84,000
Net change in cash and cash equivalents 5,533,000 3,641,000 4,487,000 (2,282,000)
Cash and cash equivalents - beginning of period 6,629,000 2,142,000 2,142,000 4,424,000
Cash and cash equivalents - end of period 12,162,000 5,783,000 6,629,000 2,142,000
Supplemental Cash Flow Information        
Cash paid for interest 0 0 0 0
Cash paid for income taxes 0 $ 0 0  
NON-CASH FINANCING AND INVESTING ACTIVITIES:        
Unrealized loss from available-for-sale securities $ (5,000)      
Common shares issued for acquisition of license offset against stock payable       539,000
Common shares issued for settlement of stock payable       $ 100,000
Initial recognition of right-of-use asset     $ 97,000