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 9 Months Ended 12 Months Ended
Jan. 31, 2021
Jul. 31, 2020
Jan. 31, 2020
Jul. 31, 2019
Jan. 31, 2021
Jan. 31, 2020
Apr. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (3,700,580) $ (957,120) $ (961,458) $ (1,308,599) $ (9,502,366) $ (4,497,143)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation 6,740   2,098   16,456 6,622  
Accretion 4,585   2,335   12,973 6,666 $ 10,474
Stock based compensation         2,878,700 1,061,857  
Abandonment of mineral properties         56,329  
Amortization of prepaid stock based expenses         9,375 145,210  
Changes in operating assets and liabilities:              
Prepaid expenses and other current assets         (108,526) (77,508)  
Reclamation bond deposit         (34,000) (16,109)  
Accounts payable and accrued liabilities         309,156 (182,964)  
Accounts payable - related parties         (3,459) 1,967  
NET CASH USED IN OPERATING ACTIVITIES         (6,365,362) (3,551,402)  
CASH FLOWS FROM INVESTING ACTIVITIES:              
Purchase of property and equipment         (42,991)  
Proceeds received in connection with the share exchange agreement         2,500,000 159,063  
NET CASH PROVIDED BY INVESTING ACTIVITIES         2,457,009 159,063  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Issuance of preferred stock and warrants, net of issuance cost         5,530,004 2,401,202  
Common stock to be issued for cash         8,371,167  
Issuance of common stock for exercise of warrants         1,249,997  
NET CASH PROVIDED BY FINANCING ACTIVITIES         15,151,168 2,401,202  
NET INCREASE (DECREASE) IN CASH         11,242,815 (991,137)  
CASH - beginning of period   $ 2,749,957   $ 2,197,181 2,749,957 2,197,181 2,197,181
CASH - end of period $ 13,992,772   $ 1,206,044   13,992,772 1,206,044 $ 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         26,903  
Issuance of common stock for prepaid services         56,250  
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