v3.20.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Apr. 30, 2020
Apr. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,249,350) $ (8,046,550)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 10,730 6,956
Accretion 10,474 6,861
Stock based compensation 1,266,177 2,275,337
Amortization of prepaid stock based expenses 160,377 45,253
Deferred income taxes 435,345
Changes in operating assets and liabilities:    
Income tax receivable (219,072)
Prepaid expenses and other current assets 240,166 (40,715)
Reclamation bond deposit (16,109) (246,519)
Accounts payable (83,592) (132,139)
Accounts payable - related parties (12,177) 40,108
Accrued liabilities (5,367) (12,831)
NET CASH USED IN OPERATING ACTIVITIES (3,897,743) (5,668,894)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net proceeds received in connection with the share exchange agreement 159,063
NET CASH PROVIDED BY INVESTING ACTIVITIES 159,063
CASH FLOWS FROM FINANCING ACTIVITIES:    
Issuance of preferred stock and warrants, net of issuance cost 2,401,201
Issuance of common stock, net of offering costs 1,890,255 219,796
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,291,456 219,796
NET INCREASE (DECREASE) IN CASH 552,776 (5,449,098)
CASH - beginning of year 2,197,181 7,646,279
CASH - end of year 2,749,957 2,197,181
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest
Income taxes
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Increase in asset retirement obligation 81,885
Issuance of common stock for accrued services 26,903 12,500
Deemed dividends - Series F and G preferred stock 2,086,212
Issuance of common stock in connection with the share exchange agreement 2,020,000
Assumption of liabilities in connection with the share exchange agreement 125,670
Increase in mineral properties in connection with the share exchange agreement 1,986,607
Issuance of common stock for prepaid services 160,377
Increase in asset retirement cost and obligation $ 69,172

Source