Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
May 31, 2016 |
May 31, 2015 |
| Cash Flows from Operating Activities |
|
|
| Net loss |
$ (964,549)
|
$ (338,108)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation expense |
93,921
|
2,364
|
| Amortization expense |
22,257
|
7,419
|
| Amortization of the fair value of common shares issued for services |
|
178,000
|
| Fair value of shares issued for services and settlement |
|
20,000
|
| Fair value of warrants issued for services |
41,359
|
|
| Changes in operating assets and liabilities: |
|
|
| Valued added tax and other receivables |
(36,804)
|
(33,426)
|
| Prepayments and other current assets |
11,298
|
(1,604)
|
| Accounts payable and accrued liabilities |
(78,004)
|
16,010
|
| Accrued officer compensation |
45,000
|
45,000
|
| Intellectual property obligation |
|
(212,880)
|
| Advances from majority stockholder |
18,586
|
(2,223)
|
| Net Cash Used in Operating Activities |
(846,936)
|
(319,448)
|
| Cash Flows from Investing Activities |
|
|
| Purchase of property and equipment |
(79,759)
|
(13,543)
|
| Net Cash Used in Investing Activities |
(79,759)
|
(13,543)
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from sale of common shares |
1,988,003
|
2,207,000
|
| Net Cash Provided by Financing Activities |
1,988,003
|
2,207,000
|
| Effect of exchange rate changes |
(63,602)
|
(24,846)
|
| Net Change in Cash |
997,706
|
1,849,163
|
| Cash - beginning of period |
422,586
|
209,796
|
| Cash - end of period |
1,420,292
|
2,058,959
|
| Supplemental disclosure of cash flow information: |
|
|
| Income tax paid |
|
|
| Non-cash investing and financing activities: |
|
|
| Fair value of common stock issued for services that was recorded as prepaid expense |
|
$ 356,000
|