Transition report pursuant to Rule 13a-10 or 15d-10

Segmented Information

v2.4.0.8
Segmented Information
10 Months Ended
Aug. 31, 2014
Segmented Information [Text Block]
13.

Segmented Information

The Company identifies its segments based on the way management organizes the Company to assess performance and make operating decisions regarding the allocation of resources. In accordance with the criteria in FASB ASC 280 " Segment Reporting ," the Company has concluded that it currently has three reportable segments: oil and gas exploration and medical marijuana, which are managed separately based on fundamental differences in their operations nature.

Summarized financial information concerning the Company’s reportable segments is shown in the following tables:

  August 31, 2014   Oil and Gas     Marijuana business     Corporate     Total  
    $     $     $     $    
  Revenues (10-Month)   508,049     -     -     508,049  
  Net income (loss) from                        
  operations (10-Month)   (1,698,371 )   (151,306 )   (1,408,035 )   (3,257,712 )
  Total assets   1,400,000     67,662     1,167,474     2,635,136  

  August 31, 2013   Oil and Gas     Marijuana business     Corporate     Total  
    $     $     $     $    
  Revenues (10-Motnth)   1,097,455     -     -     1,097,455  
  Net income (loss) from                        
  operations (10-Month)   282,958     -     (538,327 )   (302,368 )
  Total assets   3,427,086     -     146,266     3,573,352