Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CASH FLOWS

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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
12 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Cash flows used in operating activities    
Net (loss) for the period $ (1,983,270) $ (1,559,341)
Income (loss) from discontinued operations 48,918 (1,698,371)
Net (loss) from operations (1,934,352) (3,257,712)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock based compensation 256,051 97,002
Shares issued for rent 0 35,750
Shares issued for services 0 551,325
Depletion 0 161,112
Write-off of oil and gas properties 0 1,879,007
Research and development 73,040 0
MMJ Joint Venture 22,662 140,000
Consulting fee 127,300 0
Change in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable 65,620 (21,440)
(Increase)/Decrease in inventory (167,985) 0
(Increase)/ Decrease in prepaid expenses and deposit 96,834 (58,141)
Increase in accounts payable and accrued liabilities (60,480) (42,720)
Due to related parties 20,283 0
Net cash used in operating activities (1,501,027) (515,817)
Cash flows used in investing activities    
Oil and gas property acquisition and exploration costs 0 (68,624)
Proceeds from sale of oil and gas property 721,806 0
Patent (36,989) 0
Medical Marijuana Investments 0 (7,662)
Net cash used in investing activities 684,817 (76,286)
Cash flows from financing activities    
Payments of loan payable (98,742) (306,893)
Proceeds from private placement, convertible debt, 471,997 0
and option exercise 0 1,536,484
Net cash from financing Activities 373,255 1,229,591
Increase (Decrease) in cash and cash equivalents (442,955) 637,488
Cash and cash equivalents, beginning of year 703,030 65,542
Cash and cash equivalents, end of year 260,075 703,030
Supplemental information of cash flows:    
Interest paid in cash 98,742 165,790
Income taxes paid in cash $ 0 $ 0