XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 31, 2021
Aug. 31, 2020
Current Assets:    
Cash $ 30,813 $ 2,338
Accounts Receivable 113,379 0
Notes Receivable, Current 100,800 0
Inventory 189,081 75,338
Other Current Asset 7,992 0
Total Current Asset 442,065 77,676
Machinery & Equipment- Net 218,535 25,406
Other Assets    
Long-Term Investments 650,000 1,714,903
Intangible Assets 500,000 500,000
Right of Use Asset 634,637 0
Goodwill 8,842,967 0
Notes Receivable 41,000 0
Security Deposit 9,600 7,200
TOTAL ASSETS 11,338,804 2,325,185
Current Liabilities:    
Accounts Payable 730,825 233,568
Accounts Payable - Related Party 2,639 1,139
Accrued Interest 212,202 33,301
Due to Joint Venture 135,000 0
Notes Payable, Current 975,043 0
Right of Use Liability, Current 71,754 0
Convertible Notes, Net of Debt Discount of $734,579 and $300,326, respectively 1,206,708 620,813
Convertible Notes – Related Party, Net of Debt Discount of $721,393 and $377,920, respectively 408,607 1,745,847
Series B Convertible Preferred Stock, 1,000,000 shares authorized, 367,750 and 0 shares issued and outstanding 148,775 0
Derivative Liability 4,747,614 1,125,803
Note Payable - Related Party 108,039 0
Total Current Liabilities 8,747,206 3,760,471
Right of Use Liability, Long-Term 562,997 0
Notes Payable 672,794 0
Total Liabilities 9,982,997 3,760,471
Stockholder's Equity (Deficit)    
Preferred Stock, par value $0.0001,10,000,000 shares Authorized, 6,000,000 shares Issued and Outstanding at August 31, 2021 and 2020 600 600
Common Stock, par value $0.001,1,000,000,000 shares Authorized, 84,940,028 shares Issued and Outstanding at August 31, 2021 and 27,082,419 at August 31, 2020 84,938 2,708
Additional Paid-in Capital 11,591,829 4,618,168
Shares to be issued 2,078 187
Accumulated Deficit (13,891,788) (6,056,949)
Total Stockholder's Equity (Deficit) Attributable to Cannabis Global, Inc. (2,212,343) (1,435,286)
Noncontrolling Interest 3,568,150 0
Total Stockholders' Equity (Deficit) 1,355,807 (1,435,286)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) $ 11,338,804 $ 2,325,185