XML 44 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended 93 Months Ended
Aug. 31, 2012
Aug. 31, 2011
Aug. 31, 2012
Cash flows used in operating activities      
Net Income (loss) $ (1,009,735) $ (165,405) $ (5,393,754)
Changes to reconcile net loss to net cash used in operating activities      
Consulting - Stock based compensation 66,953 281,638 657,250
Depletion 0 0 298,489
Write down in carrying value of oil and gas properties 0 0 293,436
Stock issued for mineral resource and oil and gas property 0 0 37,500
Write down of oil and gas properties 0 0 3,344,372
Gain on disposition of oil and gas properties 0 0 (522,976)
Fair value of warrants liabilities (291,003) (595,227) (886,230)
Gain on owned securities 312,168 (32,836) 279,332
Equity pick-up 4,824 1,555 16,894
Impairment on long term investments 197,910 0 197,910
Imputed interest 0 17,928 17,396
Accrued loan interest 0 0 17,928
Income tax recovery 0 0 (762,704)
Other non-cash activities 2,958 0 30,153
Change in non-cash working capital items:      
Accounts receivable (22,439) (20,340) (48,975)
Prepaid expenses and deposit 33,534 (40,074) 13,553
Deferred charges 29,038 (29,038) 0
Accounts payable and accrued liabilities 111,888 (2,472) 108,531
Due to related parties 72,000 46,899 163,137
Net cash (used in) operating activities (491,904) (537,372) (2,138,758)
Cash flows from (used in) investing activities      
Proceeds from sale of marketable securities 56,241 0 56,241
Oil and gas properties acquisition and divestment 0 0 (345,180)
Proceeds from sale of oil and gas interests 0 100,000 521,545
Mineral resource properties acquisition (104,798) (87,045) (191,843)
Investment in GSWPS 0 (42,000) (103,500)
Investment in Pro Eco 0 0 (45,000)
Cash provided in connection with business acquisition 0 0 201,028
Net cash from (used in) investing activities (48,557) (29,045) 93,291
Cash flows from financing activities      
Promissory notes - related party 50,045 (50,000) 50,045
Net proceeds from subscriptions received 240,956 845,063 2,009,114
Net cash from financing activities 291,001 795,063 2,059,159
Increase (Decrease) in cash and cash equivalents (249,460) 228,646 13,692
Cash and cash equivalents, beginning of period 263,152 34,506 0
Cash and cash equivalents, end of period 13,692 263,152 13,692
Supplemental information of cash flows      
Interest paid in cash 0 0 0
Income taxes paid in cash $ 0 $ 0 $ 0