Indigenous Roots Corp.
CIK:0001373690|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | |
|---|---|---|
Nov. 30, 2021 |
Nov. 30, 2020 |
|
| CONSOLIDATED STATEMENT OF OPERATIONS | ||
| REVENUE | $ 2,822 | $ 2,003 |
| Operating expenses | ||
| General and administrative expenses | 8,465 | 1,684 |
| Legal and audit fees | 7,461 | 609 |
| Depreciation expense | 0 | 10,340 |
| Total operating expenses | 15,926 | 12,633 |
| OTHER EXPENSES | ||
| Foreign exchange | (11,878) | 590 |
| Interest expense | 12,321 | 17,740 |
| Total other expenses | 443 | 18,330 |
| Net loss | $ (13,547) | $ (28,960) |
| BASIC AND DILUTED LOSS PER COMMON SHARE | $ (0.00) | $ (0.00) |
| WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED | 15,586,857 | 15,086,857 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) |
3 Months Ended | |
|---|---|---|
Nov. 30, 2021 |
Nov. 30, 2020 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $ (13,547) | $ (28,960) |
| Non-cash items: | ||
| Depreciation | 0 | 10,340 |
| Accrued interest expense | 11,315 | 17,740 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (816) | (2,003) |
| Accounts payable and accrued liabilities | 11,926 | (767) |
| Due to related parties | 1,500 | 1,500 |
| NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES | 9,378 | (2,149) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Loan repayments | (343,000) | 0 |
| NET CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES | (343,000) | 0 |
| CASH, BEGINNING | 515,903 | 23,114 |
| CASH, ENDING | $ 182,281 | $ 20,965 |
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) |
Nov. 30, 2021 |
Aug. 31, 2021 |
|---|---|---|
| Current Assets | ||
| Cash | $ 182,281 | $ 515,903 |
| Accounts receivable | (642) | (1,458) |
| Total current asets | 181,639 | 514,445 |
| Total Assets | 181,639 | 514,445 |
| Current Liabilities | ||
| Accounts payable and accrued liabilities | 190,182 | 178,256 |
| Loan payable-related party | 123,435 | 466,435 |
| Due to related parties | 45,115 | 43,615 |
| Loan payable | 916,457 | 906,142 |
| Total current liabilities | 1,275,189 | 1,594,448 |
| Total Liabilities | 1,275,189 | 1,594,448 |
| STOCKHOLDERS' DEFICIT | ||
| Common stock 200,000,000 authorized shares, par value $0.001 15,586,857 shares issued and outstandingas at August 31, 2021 and 15,086,857 as at August 31, 2020 | 15,588 | 15,588 |
| Additional paid-in-capital | 4,536,362 | 4,536,362 |
| Deficit | (5,645,500) | (5,631,953) |
| Total Stockholders' Deficit | (1,093,550) | (1,080,003) |
| Total Liabilities and Stockholders' Deficit | $ 181,639 | $ 514,445 |