Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
May 31, 2021
May 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (5,550,358) $ (3,627,678)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 1,011,175 326,398
Depreciation 183 372
Net change in fair value of marketable securities (2,319)  
Change in fair value of derivative liabilities   (29,501)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 24,314 (56,027)
Accounts payable and accrued liabilities (84,999) (88,231)
Net proceeds of investment in trading marketable securities 2,319  
Net cash used in operating activities (4,599,685) (3,474,667)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment   (1,176)
Net cash used in investing activities   (1,176)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares for cash 7,614,120 380,678
Payment of common stock issuance costs (1,108,090) (113,866)
Proceeds from exercise of warrants 6,016,144  
Refund for fractional stock   (117)
Advances from related parties 1,392 7,116
Repayments to related parties (8,338) (3,040)
Net cash provided by financing activities 12,515,228 270,771
Effect of exchange rate changes on cash (5,327) 60,363
Net change in cash and cash equivalents 7,910,216 (3,144,709)
Cash and cash equivalents - beginning of period 2,142,072 4,423,965
Cash and cash equivalents - end of period 10,052,288 1,279,256
Supplemental Cash Flow Information    
Cash paid for interest 0 0
Cash paid for income taxes $ 0 0
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
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