• Filing Date: 2020-06-12
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,046,394) $ (1,315,710)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation 18,037 14,598
Provision for uncollectible value-added taxes 15,641 20,955
Foreign currency transaction loss 27,191 3,157
Change in fair value of warrant derivative liability (370,223)
Change in fair value of stock option liability (18,774)
Stock options issued for compensation 37,450 122,131
Changes in operating assets and liabilities:    
Value-added tax receivable (26,890) (65,670)
Income tax receivable 37 (337)
Other receivables (1,364) 2,171
Prepaid expenses and deposits 50,754 47,517
Accounts payable (177,426) (108,467)
Accrued liabilities and expenses (32,262) (220,096)
Income tax payable 675 (3,200)
Net cash used in operating activities (1,134,551) (1,891,948)
CASH FLOWS FROM INVESTING ACTIVITY:    
Acquisition of property concessions (11,820)
Net cash used in investing activity (11,820)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Property concessions funding (Note 4) 1,042,538 2,221,380
Proceeds from exercise of warrants, net of costs (Note 10) 142,876
Net cash provided by financing activities 1,042,538 2,364,256
Effect of exchange rates on cash and cash equivalents (5,177) 1,067
Net (decrease) increase in cash and cash equivalents (97,190) 461,555
Cash and cash equivalents beginning of period 1,431,634 3,025,839
Cash and cash equivalents end of period 1,334,444 3,487,394
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Income taxes paid 4,769 3,192
Interest paid