XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income (loss) $ (25,680,336) $ 25,520,417
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation expense 134,004 17,306
Loss on settlement of debt 124,521 0
Stock-based compensation expense 19,592,502 121,385
Accretion of debt discount 0 86,024
Gain on derivative assets 0 (27,087,667)
Deferred tax benefit (5,685,435) (413,424)
Changes in current assets and liabilities:    
Receivable (94,807) (13,317)
Prepaid expenses and deposit 8,208 (357,177)
Accounts payable and accrued liabilities 1,691,280 278,865
Accounts payable - related party (3,000) (319,237)
Net cash used in operating activities (9,913,063) (2,166,825)
CASH FLOWS FROM INVESTING ACTIVITIES    
Issuance of note receivable 0 (1,150,000)
Receipts on loan receivable 0 407,834
Purchases of property and equipment (492,272) (879,249)
Other assets (20,000) 0
Purchases of mineral properties (8,650,700) (12,807,130)
Cash acquired on acquisition 0 9,697,502
Cash used in investing activities (9,162,972) (4,731,043)
CASH FLOWS FROM FINANCING ACTIVITIES    
Issuance of share capital, net of issuance costs 318,572 22,563,570
Proceeds from sale of DTRC common stock 49,515,626 0
Payment of cash dividend to non-controlling interest 0 (4,357,246)
Proceeds from exercise of DTRC stock options and warrants 0 455,000
Payments on notes payable - related parties (801,715) (460,556)
Cash provided by financing activities 49,032,483 18,200,768
Net change in cash and cash equivalents 29,956,448 11,302,900
Cash and cash equivalents, beginning of year 11,444,668 141,768
Cash and cash equivalents, end of year 41,401,116 11,444,668
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for purchase of mineral properties 10,380,464 1,320,000
Conversion of note receivable as consideration for mineral properties 0 1,450,000
Common stock issued for settlement of notes payable 703,647 0
Related party accounts payable and accrued interest converted to related party note payable 0 1,447,997
Conversion of derivative to consideration for mineral properties 0 12,339,161
Value of convertible feature of promissory note as consideration for mineral properties 0 1,836,667
Common stock issued for acquisition of non-controlling interest $ 48,799,274 $ 0