Add the cashews, water, nutmeg, cinnamon, and pure maple extract into the bowl of a food processor and process until smooth. (Mixture will still be slightly chunky from the cashews)
Pour the mixture into a shallow dish, large enough to allow for the dipping of the bread.
Dip both sides of the bread slices into the mixture, then place on a single layer in a shallow baking dish.
Pour any remaining cashew mixture over the bread and place in the fridge for 30 minutes.
Preheat a skillet over medium high heat.
Spray each side of the bread slices with coconut oil spray and to the skillet and cook each side 4-5 minutes, until both sides are golden brown.
Keep the French toast warm either in the oven at 250° or on a plate covered in aluminum foil.
Continue the process until all the bread has been cooked.
Drizzle the French toast with the maple syrup just before serving.