Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
6 Months Ended |
Feb. 28, 2018 |
Feb. 28, 2017 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net income (loss) |
$ (825,699)
|
$ (157,216)
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
407,571
|
19,478
|
| Depreciation cost of goods sold |
82,739
|
53,618
|
| Stock compensation expense |
1,408,671
|
262,808
|
| Changes in operating assets and liabilities |
|
|
| Accounts receivable |
(2,200,893)
|
(287,043)
|
| Provision for deferred taxes |
(272,637)
|
|
| Prepaids |
(2,647,357)
|
17,946
|
| Inventory |
(3,505,198)
|
(768,349)
|
| Accounts payable |
2,070,118
|
385,756
|
| Accrued expenses and other current liabilities |
49,866
|
(43,648)
|
| Net cash used in operating activities |
(5,432,819)
|
(516,650)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Acquisition of web domain |
(9,321)
|
|
| Purchase of property and equipment |
(259,635)
|
(660,922)
|
| Net cash used in investing activities |
(268,956)
|
(660,922)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Repayment of car loan |
(8,508)
|
|
| Earn out payable |
(170,000)
|
|
| Proceeds from note payable |
|
24,785
|
| Repayment of note payable |
(333,395)
|
(9,980)
|
| Proceeds from line of credit |
742,504
|
|
| Proceeds from sale of stock |
11,614,112
|
2,968,923
|
| Net cash provided by financing activities |
11,844,713
|
2,983,728
|
| NET INCREASE (DECREASE) IN CASH |
6,142,938
|
1,806,156
|
| CASH AT BEGINNING OF PERIOD |
916,984
|
1,027,003
|
| CASH AT END OF PERIOD |
7,059,922
|
2,833,159
|
| CASH PAID FOR: |
|
|
| Interest |
30,994
|
$ 1,869
|
| Income taxes |
66,178
|
|
| NON-CASH INVESTING AND FINANCING ACTIVITIES |
|
|
| Services prepaid for in common stock |
102,800
|
|
| Shares issued for accounts payable |
$ 159,983
|
|