Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Oct. 31, 2020
Jul. 31, 2020
Oct. 31, 2019
Jul. 31, 2019
Oct. 31, 2020
Oct. 31, 2019
Apr. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (4,844,666) $ (957,120) $ (2,227,086) $ (1,308,599) $ (5,801,786) $ (3,535,685)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation 5,516   2,100   9,716 4,523  
Accretion 4,328   2,191   8,388 4,331 $ 10,474
Stock based compensation         1,728,582 575,207  
Amortization of prepaid stock based expenses         99,210  
Changes in operating assets and liabilities:              
Prepaid expenses and other current assets         (297,805) 44,935  
Reclamation bond deposit         (34,000) (16,109)  
Accounts payable         887,149 (17,376)  
Accounts payable - related parties         (3,459) (4,606)  
Accrued liabilities         7,305  
NET CASH USED IN OPERATING ACTIVITIES         (3,503,215) (2,838,265)  
CASH FLOWS FROM INVESTING ACTIVITIES:              
Purchase of property and equipment         (39,493)  
Proceeds received in connection with the share exchange agreement         2,500,000 159,063  
NET CASH PROVIDED BY INVESTING ACTIVITIES         2,460,507 159,063  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Issuance of preferred stock and warrants, net of issuance cost         5,530,004 2,401,202  
Issuance of common stock for exercise of warrants         70,000  
NET CASH PROVIDED BY FINANCING ACTIVITIES         5,600,004 2,401,202  
NET INCREASE (DECREASE) IN CASH         4,557,296 (278,000)  
CASH - beginning of period   $ 2,749,957   $ 2,197,181 2,749,957 2,197,181 2,197,181
CASH - end of period $ 7,307,253   $ 1,919,181   7,307,253 1,919,181 $ 2,749,957
Cash paid for:              
Interest          
Income taxes          
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Issuance of common stock for accrued services         12,500  
Issuance of common stock in connection with conversion of preferred stock         21 2,020,000  
Assumption of liabilities in connection with the share exchange agreement         108,652 125,670  
Increase in acquisition of mineral properties in connection with the share exchange agreement         10,249,632 1,986,607  
Increase in asset retirement cost and obligation         13,352  
Series F Preferred Stock [Member]              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Deemed Dividends         2,022,712  
Series I Preferred Stock [Member]              
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:              
Deemed Dividends         $ 5,530,004