Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.4
Segment Information
 3 Months Ended
Nov. 30, 2021
Segment Information [Abstract]
SEGMENT INFORMATION
23. SEGMENT INFORMATION

The Company operated in two reportable segments within the USA during the three months ended November 30, 2021 and 2020, 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, 2021 and 2020. Other information about reportable segments are:

November 30, 2021
Oil Mining
(in ’000s of dollars) Extraction Operations Consolidated
Additions to non-current assets $
-
 $
-
 $
-
Reportable segment assets 46,553 33,240 79,793
Reportable segment liabilities (10,671 )
-
 (10,671 )
$ 35,882 $ 33,240 $ 69,122

November 30, 2020
Oil Mining
(in ’000s of dollars) Extraction Operations Consolidated
Additions to non-current assets $ 4,173 $
-
 $ 4,173
Reportable segment assets 44,897 33,240 78,137
Reportable segment liabilities (18,171 ) (100 ) (18,271 )
$ 26,726 $ 33,140 $ 59,866

November 30, 2021
(in ’000s of dollars) Oil
Extraction		 Mining
operations		 Consolidated
Revenue from license fees $
-
 $
-
 $
-
Other production and maintenance costs (285 )
-
 (285 )
Gross Loss (285 )
-
 (285 )
Operating Expenses
Depreciation, depletion and amortization 11
-
 11
Selling, general and administrative expenses 1,394
-
 1,394
Investor relations 40
-
 46
Professional fees 646
-
 646
Research and development 175 175
Salaries and wages 156
-
 156
Travel and promotional expenses 83
-
 83
Other 288
-
 288
Financing costs 626
-
 626
Other expense (income) 281
-
 281
Forgiveness of federal relief loans (134 )
-
 (134 )
Loss on debt extinguishment 444
-
 444
Interest income (29 )
(29 )
Derivative liability movements (52 )
-
 (52 )
Net loss $ 2,545 $
-
 $ 2,545

November 30, 2020
(in ’000s of dollars) Oil
Extraction		 Mining
operations		 Consolidated
Revenue from license fees $ 2,000 $
 -
 $ 2,000
Other production and maintenance costs (345 )
-
 (345 )
Gross Profit 1,655
-
 1,655
Operating Expenses
Depreciation, depletion and amortization 12
-
 12
Selling, general and administrative expenses 1,045
-
 1,045
Investor relations 88
-
 88
Professional fees 399
-
 399
Salaries and wages 88
-
 88
Share-based compensation 200
-
 200
Travel and promotional expenses 83
-
 83
Other 187
-
 187
Financing costs 621
-
 621
Other expense (income) 544
-
 544
Gain on settlement of liabilities 134
-
 134
Loss on conversion of convertible debt 80
-
 80
Loss on debt extinguishment 330
-
 330
Derivative liability movements (157 )
-
 (157 )
Net loss $ 410 $
-
 $ 410