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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income for the year $ 1,164,123 $ 3,454,953
Items not affecting cash:    
Depreciation and amortization 319,617 244,279
Stock-based compensation expense 56,838 70,391
(Gain) on sale of property, plant and equipment (4,526)
Gain on extinguishment of debt (680,707)
Deferred income taxes (141,943) 19,993
Changes in non-cash working capital items:    
(Increase) in accounts receivable (105,143) (812,077)
(Increase) in inventory (6,240,948) (5,193,219)
Decrease (increase) in prepaid expenses 1,193,245 (1,269,692)
Decrease (increase) in prepaid income taxes 43,995 (252,959)
Increase in accounts payable and accrued liabilities 274,321 36,404
(Decrease) in income taxes payable (40,596)
Net cash (used by) operating activities (3,440,421) (4,423,230)
CASH FLOWS FROM INVESTING ACTIVITIES    
Increase in intangible assets (3,535) (30,755)
Purchase of property, plant and equipment (1,255,894) (1,162,739)
Net cash used in investing activities (1,259,429) (1,193,494)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from bank indebtedness 4,000,000 3,000,000
Net cash provided by financing activities 4,000,000 3,000,000
Net (decrease) in cash (699,850) (2,616,724)
Cash, beginning of year 1,184,313 3,801,037
Cash, end of year $ 484,463 $ 1,184,313