Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Apr. 30, 2019
Apr. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (8,046,550) $ (13,658,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 6,956
Accretion 6,861
Stock based compensation 2,275,337 1,317,664
Amortization of prepaid stock based expenses 45,253 287,350
Deferred income taxes 435,345 (438,145)
Impairment expense 6,094,760
Gain on sale of business (94,485)
Gain on extinguishment of liabilities (248,684)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (40,715) (400,495)
Reclamation bond deposit and other assets (246,519) (38,962)
Accounts payable (132,139) 222,101
Accounts payable - related parties 40,108
Accrued liabilities (12,831) (29,002)
NET CASH USED IN OPERATING ACTIVITIES (5,668,894) (6,986,393)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net proceeds received from sale of business 326,404
Acquisition of mineral rights (20,479)
NET CASH PROVIDED BY INVESTING ACTIVITIES 305,925
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of preferred stock and warrants, net of issuance cost 4,916,120
Issuance of common stock, net of offering costs 219,796 2,590,004
NET CASH PROVIDED BY FINANCING ACTIVITIES 219,796 7,506,124
NET (DECREASE) INCREASE IN CASH (5,449,098) 825,656
CASH - beginning of year 7,646,279 6,820,623
CASH - end of year 2,197,181 7,646,279
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 116
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Issuance of common stock for the acquisition of mineral rights 35,850
Conversion of preferred stock into common stock 48
Increase in asset retirement obligation 81,885
Issuance of common stock for accrued services 12,500 137,500
Issuance of common stock for prepaid services 160,377 280,825
Issuance of stock options for prepaid services 168,641
Beneficial conversion feature - discount series E preferred stock $ 1,576,602