Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2021
Apr. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (12,387,094) $ (5,249,350)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 22,886 10,730
Accretion 17,477 10,474
Stock based compensation 3,602,493 1,266,177
Abandonment of mineral properties 56,329
Amortization of prepaid stock based expenses 40,105 160,377
Changes in operating assets and liabilities:    
Income tax receivable 219,072 (219,072)
Prepaid expenses and other current assets (151,497) 240,166
Reclamation bond deposit (362,953) (16,109)
Accounts payable and accrued liabilities 356,005 (88,959)
Accounts payable - related parties (3,459) (12,177)
NET CASH USED IN OPERATING ACTIVITIES (8,590,636) (3,897,743)
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 2,401,201
Issuance of common stock, net of offering costs 8,999,077 1,890,255
Issuance of common stock for exercise of warrants 2,499,994
NET CASH PROVIDED BY FINANCING ACTIVITIES 17,029,075 4,291,456
NET INCREASE IN CASH 10,895,448 552,776
CASH - beginning of year 2,749,957 2,197,181
CASH - end of year 13,645,405 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 106,250
Issuance of common stock in connection with conversion of preferred stock 2,011
Issuance of common stock in connection with the share exchange agreement 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 18,746 69,172
Series F Preferred Stock [Member]    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Deemed Dividends 2,086,212
Series I Preferred Stock [Member]    
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Deemed Dividends $ 5,530,004