Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,300,566) $ (2,676,487)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 392,817 273,416
Depreciation 122 248
Net change in fair value of marketable securities (1,335)  
Change in fair value of derivative liabilities   (29,501)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 10,446 (109,841)
Accounts payable and accrued liabilities 79,420 88,051
Net cash used in operating activities (2,819,096) (2,454,114)
CASH FLOWS FROM INVESTING ACTIVITIES    
Investment in marketable securities (510,695)  
Purchase of equipment 0 (1,176)
Net cash used in investing activities (510,695) (1,176)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common shares for cash 7,590,000  
Common stock issuance costs (1,011,447) (15,151)
Proceeds from exercise of warrants 5,326,144  
Refund for fractional stock   (117)
Advances from related parties 1,392 6,420
Repayments to related parties (8,338) (3,040)
Net cash provided by (used in) financing activities 11,897,751 (11,888)
Effect of exchange rate changes on cash (3,601) 25,760
Net change in cash and cash equivalents 8,564,359 (2,441,418)
Cash and cash equivalents - beginning of period 2,142,072 4,423,965
Cash and cash equivalents - end of period 10,706,431 1,982,547
Supplemental Cash Flow    
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