Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
May 31, 2020
May 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,627,678) $ (1,326,575)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 326,398 376,095
Depreciation 372 383
Change in fair value of derivative liabilities (29,501) (897,096)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (56,027) 24,142
Accounts payable and accrued liabilities (88,231) 91,471
Net cash used in operating activities (3,474,667) (1,731,580)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of equipment (1,176) (688)
Net cash used in investing activities (1,176) (688)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares for cash 380,678 1,675,637
Payment of stock issuance costs (113,866)  
Refund for fractional stock (117)  
Advance from related parties 7,116 12,222
Repayments to related parties (3,040) (8,087)
Net cash provided by financing activities 270,771 1,679,772
Effects on changes in foreign exchange rate 60,363 1,511
Net change in cash and cash equivalents (3,144,709) (50,985)
Cash and cash equivalents - beginning of period 4,423,965 337,424
Cash and cash equivalents - end of period 1,279,256 286,439
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   997,274
Common shares issued for deposit of exercise of the license   539,417
Deferred offering costs incurred   $ 291,670
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