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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended 102 Months Ended
May 31, 2013
May 31, 2012
May 31, 2013
Cash flows used in operating activities      
Net Income (loss) $ (411,973) $ (778,868) $ (5,805,727)
Changes to reconcile net loss to net cash used in operating activities      
Consulting - Stock based compensation 0 32,581 657,250
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 140,980 0 3,485,352
Gain on disposition of oil and gas properties 0 0 (522,976)
Fair value of warrants liabilities (9,789) (124,465) (896,019)
Loss on owned securities 3,750 309,171 283,082
Equity pick-up 850 0 17,744
Impairment on long term investments 0 0 197,910
Imputed interest 0 0 17,396
Accrued loan interest 0 0 17,928
Income tax recovery 0 0 (762,704)
Other non-cash activities 0 0 30,153
Change in non-cash working capital items:      
Accounts receivable 48,840 (15,918) (135)
Prepaid expenses and deposit (4,104) 28,505 9,449
Deferred charges 0 0 0
Accounts payable and accrued liabilities 109,930 76,569 233,461
Due to related parties 51,000 94,875 141,637
Net cash (used in) operating activities (70,516) (377,550) (2,266,774)
Cash flows from (used in) investing activities      
Proceeds from sale of marketable securities 0 0 56,241
Oil and gas properties acquisition and divestment 0 0 (345,180)
Proceeds from sale of oil and gas interests 0 0 521,545
Mineral resource properties acquisition (40,000) (81,652) (232,343)
Investment in GSWPS 0 (31,500) (45,500)
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 (40,000) (113,152) 110,791
Cash flows from financing activities      
Promissory notes - related party 0 50,045 50,045
Net proceeds from subscriptions received 100,400 231,080 2,109,514
Net cash from financing activities 100,400 281,125 2,159,559
Increase (Decrease) in cash and cash equivalents (10,116) (209,577) 3,576
Cash and cash equivalents, beginning of period 13,692 263,152 0
Cash and cash equivalents, end of period 3,576 53,575 3,576
Supplemental information of cash flows      
Interest paid in cash 0 0 0
Income taxes paid in cash $ 0 $ 0 $ 0