XML 14 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss for the period $ (1,884,929) $ (7,442,627)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 84,721 161,291
Stock issued for services 98,820
Stock to be issued for services 51,208 670,576
Depletion 148,873 233,713
Depreciation 43,976 13,808
Accretion of asset retirement obligation 82,905 45,827
Accretion and accrued interest expense 27,188 98,712
Change in fair value of derivative liability 361,170 5,698,468
Interest income (28,347)
Foreign exchange loss (25,476) 248,313
Gain (loss) on debt settlement (71,236) (145,665)
Changes in operating assets and liabilities:    
Restricted cash 1,085 1,423
Accounts receivable (999,166) (472,868)
Prepaid expenses and deposits (4,838,732) (224,506)
Accounts payable and accrued liabilities 1,149,525 470,166
Net cash used in operating activities (5,798,415) (643,369)
Investing activities:    
Property and equipment expenditures (160,003) (322)
Oil and gas properties expenditures (6,800)
Net cash used in investing activities (160,003) (7,122)
Financing activities:    
Proceeds from stock subscriptions received 31,351,120 642,096
Stock issuance costs on subscriptions received (2,658,065)
Proceeds from exercise of options 19,571 29,761
Proceeds from exercise of warrants 35,813 574,527
Proceeds from loans payable 91,651 496,035
Repayments of loans payable (631,866) (106,294)
Lease payments (3,041) (5,724)
Net cash provided by financing activities 28,205,183 1,630,401
Effect of exchange rate changes on cash and cash equivalents 228,764 (97,921)
Net increase in cash and cash equivalents 22,475,529 881,989
Cash and cash equivalents, beginning of period 1,026,990 202,712
Cash and cash equivalents, end of period 23,502,519 1,084,701
Supplemental information:    
Taxes paid
Interest paid on credit facilities 46,256 7,615
Non-cash investing and financing activities:    
Stock issued for prepaid services 19,393
Stock issued for debt settlement 372,853 345,698
Stock issued for debt conversion $ 522,519