Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
May 31, 2017 |
May 31, 2016 |
| Cash Flows from Operating Activities |
|
|
| Net loss |
$ (1,523,090)
|
$ (964,549)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation expense |
74,592
|
93,921
|
| Amortization expense |
15,895
|
22,257
|
| Fair value of warrants issued for services |
222,504
|
41,359
|
| Changes in operating assets and liabilities: |
|
|
| Valued added tax and other receivables |
82,892
|
(36,804)
|
| Prepayments and other current assets |
|
11,298
|
| Accounts payable and accrued liabilities |
468,282
|
(78,004)
|
| Accrued officer compensation |
(324,844)
|
45,000
|
| Advances from majority stockholder |
|
18,586
|
| Net Cash Used in Operating Activities |
(983,769)
|
(846,936)
|
| Cash Flows from Investing Activities |
|
|
| Purchase of property and equipment |
(55,453)
|
(79,759)
|
| Net Cash Used in Investing Activities |
(55,453)
|
(79,759)
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from sales of common shares |
5,897,188
|
1,988,003
|
| Repayment of advances from majority stockholder |
(278,472)
|
|
| Net Cash Provided by Financing Activities |
5,618,716
|
1,988,003
|
| Effect of exchange rate changes |
39,039
|
(63,602)
|
| Net Change in Cash |
4,618,533
|
997,706
|
| Cash - beginning of period |
916,487
|
422,586
|
| Cash - end of period |
5,535,020
|
1,420,292
|
| Supplemental disclosure of cash flow information: |
|
|
| Income tax paid |
|
|
| Non Cash Financing and Investing Activities |
|
|
| Reclassification of value added tax and other receivables to advances from majority stockholder |
$ 113,223
|
|