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RESTATEMENT
3 Months Ended
Nov. 30, 2021
NOTE 13 - RESTATEMENT

NOTE 13 – RESTATEMENT

 

The November 31, 2021 financial statements are being restated to reclassify a cash payment from cash paid for asset purchase to notes receivable investment. The notes receivable was inadvertently omitted from the November 30, 2021 Consolidated Statement of Cash Flow. See Note 3 –Asset Acquisition and Note 6 – Notes Receivable for a further discussion.

 

The following table summarizes the changes to the Consolidated Statements of Cash Flow (unaudited):

 

 

 

 

For the Three Months Ended

 

 

 

Restated

 

 

Previous

 

 

 

 

 

November 30,

 

 

November 30,

 

 

 

 

 

2021

 

 

2021

 

 

Change

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

     Cash paid for asset purchase

 

 

(350,000 )

 

 

(850,000 )

 

 

500,000

 

     Notes receivable investment

 

 

(500,000 )

 

 

-

 

 

 

(500,000)

Net cash used in investing activities

 

 

(850,000 )

 

 

(850,000)

 

 

-