Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2019
Aug. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,172,176) $ (2,343,491)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 425,110 290,004
Depreciation 510 282
Change in fair value of derivative (1,006,099)  
Stock payable 100,000  
Changes in operating assets and liabilities:    
Prepaid expenses 27,048 (35,384)
Other receivable 13,340 (22,127)
Accounts payable and accrued liabilities (180,409) 500,696
Net cash used in operating activities (2,792,676) (1,610,020)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment (688) (845)
Purchase of license (1,500,000)  
Net cash used in investing activities (1,500,688) (845)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of common shares for cash 8,376,379 1,386,613
Advance from related party 18,276 19,894
Repayment to related party (17,228) (18,056)
Net cash provided by financing activities 8,377,427 1,388,451
Effects on changes in foreign exchange rate 2,478 (12,937)
Net decrease in cash and cash equivalents 4,086,541 (235,351)
Cash and cash equivalents - beginning of period 337,424 572,775
Cash and cash equivalents - end of period 4,423,965 337,424
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  
Stock payable for acquisition of license 539,417  
Share issuance for price protection $ 13