Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
May 31, 2020 |
May 31, 2019 |
| Cash Flows from Operating Activities |
|
|
| Net loss |
$ (3,852,714)
|
$ (3,554,550)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Depreciation and amortization (Notes 5 and 6) |
256,090
|
164,336
|
| Stock-based compensation expense (Note 13) |
1,011,824
|
930,690
|
| Accrued interest expenses (Note 10) |
9,416
|
117,433
|
| Loss on revaluation of warrants |
0
|
8,483
|
| Debt accretion (Note 10) |
8,547
|
583,727
|
| Deferred financing expenses |
0
|
46,442
|
| Gain on conversion of convertible notes |
0
|
(268,730)
|
| Loss on revaluation of foreign exchange contracts |
98,502
|
0
|
| Changes in operating assets and liabilities: |
|
|
| Sales tax and tax credits receivable (Note 3) |
76,410
|
(158,954)
|
| Prepaid expenses (Note 4) |
(1,865,216)
|
49,136
|
| Accounts payable and accrued liabilities (Note 8) |
(720,759)
|
(5,366)
|
| Net cash used in operating activities |
(4,977,900)
|
(2,087,353)
|
| Cash Flows from Investing Activities |
|
|
| Investment in a joint venture (Note 9) |
(650,000)
|
(500,000)
|
| Additions to property, plant and equipment (Note 5) |
(394,403)
|
(470,545)
|
| Additions to intangible assets (Note 6) |
(144,386)
|
(24,811)
|
| Net cash used in investing activities |
(1,188,789)
|
(955,356)
|
| Cash Flows from Financing Activities |
|
|
| Proceeds from sale of common shares |
0
|
5,130,000
|
| Share issuance costs |
0
|
(863,216)
|
| Repayment of long-term debt (Note 10) |
(12,693)
|
(13,057)
|
| Net cash (used) provided by financing activities |
(12,693)
|
4,253,727
|
| Effect of exchange rate changes |
(29,534)
|
(32,796)
|
| Net decrease in cash |
(6,208,916)
|
1,138,222
|
| Cash, beginning of period |
33,717,671
|
5,833,390
|
| Cash, end of period |
27,508,755
|
6,971,612
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Income tax paid |
0
|
0
|
| Interest paid |
10,311
|
14,488
|
| Interest received |
$ 40,346
|
$ 0
|