Acquisition of Natural Plant Extract of California, Inc. (Tables)

12 Months Ended

Aug. 31, 2021

Notes to Financial Statements

Schedule of Preliminary Purchase Price Allocation

The following information summarizes the provisional purchase consideration and preliminary allocation of the fair values assigned to the assets at the purchase date:

Preliminary Purchase Price Allocation:
Cash		2,200
Accounts receivable		193,607
Notes receivable		162,247
Property and equipment		139,437
Right of use asset – operating lease		673,425
Goodwill		8,842,967
Total assets acquired	$	10,013,883
Accounts payable and accrued expenses		289,591
Right of use liability – operating lease		673,425
Notes payable		1,825,101
Notes payable – related party		105,539
Total Liabilities Assumed	$	2,893,656

Schedule of Unaudited Pro Forma Financial Information

	For the fiscal year ended
	August 31, 2021 Pro Forma			August 31, 2020 Pro Forma
Revenue	$	2,550,677		$	885,548
Operating loss		(2,714,164	)		(3,876,919	)
Net loss attributable to common shareholders of Cannabis Global		(9,262,610	)		(5,353,047	)
Net loss per common share	$	(0.14	)	$	(0.31	)