Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Oct. 31, 2021
Jul. 31, 2021
Oct. 31, 2020
Jul. 31, 2020
Oct. 31, 2021
Oct. 31, 2020
Apr. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:              
Net loss $ (4,293,310) $ (3,549,715) $ (4,844,666) $ (957,120) $ (7,843,025) $ (5,801,786)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Depreciation 8,158   5,516   16,107 9,716  
Accretion 5,252   4,328   10,186 8,388 $ 17,477
Amortization of right-of-use asset         14,808  
Stock based compensation         464,474 1,728,582  
Amortization of prepaid stock based expenses         182,376  
Changes in operating assets and liabilities:              
Prepaid expenses and other current assets         (236,774) (297,805)  
Reclamation bond deposit         (114,000) (34,000)  
Accounts payable and accrued liabilities         1,017,229 887,149  
Accounts payable - related parties         (3,459)  
Operating lease liability         (14,658)  
NET CASH USED IN OPERATING ACTIVITIES         (6,503,277) (3,503,215)  
CASH FLOWS FROM INVESTING ACTIVITIES:              
Purchase of property and equipment         (3,767) (39,493)  
Proceeds received in connection with the share exchange agreement         2,500,000  
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES         (3,767) 2,460,507  
CASH FLOWS FROM FINANCING ACTIVITIES:              
Issuance of preferred stock, net of issuance cost         5,530,004  
Issuance of common stock for exercise of warrants         70,000  
NET CASH PROVIDED BY FINANCING ACTIVITIES         5,600,004  
NET (DECREASE) INCREASE IN CASH         (6,507,044) 4,557,296  
CASH - beginning of period   $ 13,645,405   $ 2,749,957 13,645,405 2,749,957 2,749,957
CASH - end of period $ 7,138,361   $ 7,307,253   7,138,361 7,307,253 $ 13,645,405
Cash paid for:              
Interest          
Income taxes          
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:              
Issuance of common stock for accrued services         5,000 5,000  
Issuance of common stock for prepaid services         258,500  
Deemed dividends - Series I preferred stock         5,530,004  
Issuance of common stock in connection with conversion of preferred stock         21  
Operating lease right-of-use asset and operating lease liability recorded upon adoption of ASC 842         106,631  
Assumption of liabilities in connection with the share exchange agreement         108,652  
Increase in acquisition of mineral properties in connection with the share exchange agreement         10,249,632  
Increase in asset retirement cost and obligation         $ 33,517 $ 13,352