Subsequent Events (Tables)

6 Months Ended

Jan. 31, 2020

	For the Three Months Ended January 31,						For the Six Months Ended January 31,
	2020			2019			2020			2019
Revenue	$	1,162,872		$	15,470,026		$	2,926,023		$	30,726,401
Cost of revenue		1,224,307			13,376,547			4,382,695			26,163,394
Gross profit (loss)		(61,435	)		2,093,479			(1,456,672	)		4,563,007
Total operating expenses		6,474,718			2,208,209			8,582,044			3,256,499
(Loss) income from operations		(6,536,153	)		(114,730	)		(10,038,716	)		1,306,508
Other expense, net		(127,807	)		(12,989	)		(120,823	)		(448,604	)
(Loss) income before income taxes		(6,663,960	)		(127,719	)		(10,159,539	)		857,904
Income tax expense		(62,643	)		(301,889	)		(11,984	)		(529,927	)
(Loss) income from continuing operations		(6,726,603	)		(429,608	)		(10,171,523	)		327,977
(Loss) income from discontinued operations		(797,780	)		270,804			(972,542	)		270,804
Net (loss) income		(7,524,383	)		(158,804	)		(11,144,065	)		598,781
Less: Net (loss) income attributable to noncontrolling interests from continuing operations		(972,049	)		85,464			(1,215,078	)		287,906
Less: Net (loss) income attributable to noncontrolling interests from discontinued operations		(34,372	)		27,081			(51,848	)		27,081
Net (loss) income attributable to XT Energy Group, Inc.	$	(6,517,962	)	$	(271,349	)	$	(9,877,139	)	$	283,794
(Loss) earnings per common share - basic and diluted
Continuing operations	$	(0.01	)	$	(0.00	)	$	(0.02	)	$	0.00
Discontinued operations	$	(0.00	)	$	0.00		$	(0.00	)	$	0.00
Weighted average number of common shares outstanding - basic and diluted		531,042,000			591,042,000			531,042,000			591,042,000

XT Energy Group, Inc. 10-Q