| SEGMENT INFORMATION |
The Company operated in two
reportable segments within the USA during the three months ended November 30, 2019 and 2018, oil extraction and processing operations
and mining operations.
The presentation of the consolidated
statements of loss and comprehensive loss provides information about the oil extraction and processing segment. There were limited
operations in the mining operations segment during the three months ended November 30, 2019 and 2018.
Other information about reportable segments are:
| |
|
November 30, 2019 |
|
| |
|
Oil |
|
|
Mining |
|
|
|
|
| (in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
| Additions to non-current assets |
|
$ |
1,893 |
|
|
$ |
- |
|
|
$ |
1,893 |
|
| Reportable segment assets |
|
|
40,918 |
|
|
|
34,794 |
|
|
|
75,712 |
|
| Reportable segment liabilities |
|
$ |
13,113 |
|
|
$ |
3,970 |
|
|
$ |
17,083 |
|
| |
|
November 30, 2018 |
|
| |
|
Oil |
|
|
Mining |
|
|
|
|
| (in ’000s of dollars) |
|
Extraction |
|
|
Operations |
|
|
Consolidated |
|
| Additions to non-current assets |
|
$ |
4,755 |
|
|
$ |
- |
|
|
$ |
4,755 |
|
| Reportable segment assets |
|
|
34,105 |
|
|
|
9,012 |
|
|
|
43,117 |
|
| Reportable segment liabilities |
|
$ |
9,011 |
|
|
$ |
169 |
|
|
$ |
9,180 |
|
| |
|
November 30, 2019 |
|
| (in ’000s of dollars) |
|
Oil Extraction |
|
|
Mining operations |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
| Revenues from hydrocarbon sales |
|
$ |
101 |
|
|
$ |
- |
|
|
$ |
101 |
|
| Other production and maintenance costs |
|
|
678 |
|
|
|
- |
|
|
|
678 |
|
| Advance royalty payments |
|
|
- |
|
|
|
92 |
|
|
|
92 |
|
| Gross Loss |
|
|
(577 |
) |
|
|
(92 |
) |
|
|
(669 |
) |
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
74 |
|
|
|
- |
|
|
|
74 |
|
| Selling, general and administrative expenses |
|
|
2,379 |
|
|
|
3 |
|
|
|
2,382 |
|
| Investor relations |
|
|
24 |
|
|
|
- |
|
|
|
24 |
|
| Professional fees |
|
|
1,026 |
|
|
|
1 |
|
|
|
1,027 |
|
| Salaries and wages |
|
|
200 |
|
|
|
- |
|
|
|
200 |
|
| Share-based compensation |
|
|
178 |
|
|
|
- |
|
|
|
178 |
|
| Travel and promotional expenses |
|
|
571 |
|
|
|
- |
|
|
|
571 |
|
| Other |
|
|
380 |
|
|
|
2 |
|
|
|
382 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Financing costs, net |
|
|
509 |
|
|
|
- |
|
|
|
509 |
|
| Other income |
|
|
(416 |
) |
|
|
- |
|
|
|
(416 |
) |
| Gain on settlement of liabilities |
|
|
(394 |
) |
|
|
- |
|
|
|
(394 |
) |
| Interest income |
|
|
(22 |
) |
|
|
- |
|
|
|
(22 |
) |
| Derivative liability movements |
|
|
(35 |
) |
|
|
- |
|
|
|
(35 |
) |
| Net loss |
|
$ |
3,088 |
|
|
$ |
95 |
|
|
$ |
3,183 |
|
| |
|
November 30, 2018 |
|
| (in ’000s of dollars) |
|
Oil Extraction |
|
|
Mining operations |
|
|
Consolidated |
|
| |
|
|
|
|
|
|
|
|
|
| Revenues from hydrocarbon sales |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| Advance royalty payments |
|
|
- |
|
|
|
34 |
|
|
|
34 |
|
| Gross Loss |
|
|
- |
|
|
|
(34 |
) |
|
|
(34 |
) |
| Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation, depletion and amortization |
|
|
16 |
|
|
|
- |
|
|
|
16 |
|
| Selling, general and administrative expenses |
|
|
3,804 |
|
|
|
1 |
|
|
|
3,805 |
|
| Professional fees |
|
|
2,191 |
|
|
|
- |
|
|
|
2,191 |
|
| Research and development expenses |
|
|
112 |
|
|
|
- |
|
|
|
112 |
|
| Salaries and wages |
|
|
237 |
|
|
|
- |
|
|
|
237 |
|
| Share-based compensation |
|
|
229 |
|
|
|
- |
|
|
|
229 |
|
| Travel and promotional expenses |
|
|
844 |
|
|
|
- |
|
|
|
844 |
|
| Other |
|
|
191 |
|
|
|
1 |
|
|
|
192 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Financing costs, net |
|
|
478 |
|
|
|
- |
|
|
|
478 |
|
| Other expense (income) |
|
|
546 |
|
|
|
- |
|
|
|
546 |
|
| Loss on settlement of liabilities |
|
|
493 |
|
|
|
- |
|
|
|
493 |
|
| Loss on settlement of convertible debt |
|
|
79 |
|
|
|
|
|
|
|
79 |
|
| Interest income |
|
|
(26 |
) |
|
|
- |
|
|
|
(26 |
) |
| Equity loss from investment of Accord GR Energy, net of tax |
|
|
50 |
|
|
|
- |
|
|
|
50 |
|
| Net loss |
|
$ |
4,894 |
|
|
$ |
35 |
|
|
$ |
4,929 |
|
|