XML 24 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (33,045,178) $ (4,470,935)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,019,253 1,724,122
Fair value of vested stock options 426,690 155,496
Common stock issued for services 1,329,750 875,173
Operating lease expense 852,580 642,991
Amortization of debt discount 5,973,973
Foreign currency transaction losses 641,643
Gain on forgiveness of debt (21,900)
Impairment of assets 14,083,531
Other receivables write-off 299,672
Goodwill impairment 1,357,043 99,351
Changes in operating assets and liabilities:    
Accounts receivable 457,006 1,103,800
Inventory (527,397) (147,814)
Prepaid expenses and other current assets (369,647) (43,194)
Accounts payable 283,234 (45,228)
Accrued expenses 38,743 (287,034)
Accrued interest 101,353 9,015
Operating lease liability (806,394) (618,645)
Net cash used in operating activities (5,884,145) (1,024,802)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (190,168) (255,949)
Cash paid for acquisition (10,000)
Cash acquired with acquisition 57,489 3,738,171
Amounts loaned for other receivables (473,100)
Collection of other receivable 296,138
Net cash provided by investing activities 163,459 2,999,122
CASH FLOWS FROM FINANCING ACTIVITIES:    
Receipts from (repayments to) related parties 16,600 (246,327)
Repayments of notes payable (10,591,115) (2,767,519)
Repayments of finance leases (18,435) (8,872)
Proceeds from issuance of convertible notes 15,270,000
Repayment of convertible notes (5,104,167)
Proceeds from the sale of common stock, net of offering costs 7,327,580
Proceeds from exercise of stock options 12,000
Net cash (used in) provided by financing activities (427,117) 4,316,862
Effect of exchange rate changes on cash and cash equivalents 33,328 (65,738)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (6,114,475) 6,225,444
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 8,293,162 2,067,718
CASH AND CASH EQUIVALENTS, END OF YEAR 2,178,687 8,293,162
CASH PAID FOR:    
Interest 1,502,819 144,987
Income taxes
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for intangible assets 876,000
Common stock issued for convertible debt 1,272,994
Common stock issued for acquisition 1,704,000 430,837
Warrants issued with convertible notes $ 5,553,290