10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 30, 2015
OR
[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

AB INTERNATIONAL GROUP CORP.

 (Exact name of registrant as specified in its charter)

Nevada (State or Other Jurisdiction of Incorporation or Organization) 37-1740351 IRS Employer Identification Number 5521 Primary Standard Industrial Classification Code Number

Frunze Street 176,

Issikatinskiy district, Milianfan,

Kyrgyzstan, 720000

Tel. +996-558-414146

 (Address and telephone number of principal executive offices)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.
YES [] NO [X ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]

Accelerated filer [ ]

Non-accelerated filer [ ]

Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [  ] NO [ X ]

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 3,370,000 as of December 14, 2015.

1

TABLE OF CONTENTS

PART I FINANCIAL INFORMATION
ITEM 1	FINANCIAL STATEMENTS	3
	CONDENSED BALANCE SHEETS (unaudited)	3
	CONDENSED STATEMENTS OF OPERATIONS (unaudited)  CONDENSED STATEMENTS OF CHANGES in STOCKHOLDERS’ EQUITY / (DEFICIT	4
	CONDENSED STATEMENTS OF CASH FLOWS (unaudited)	5
	CONDENSED NOTES TO UNAUDITED FINANCIAL STATEMENTS	6
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	8
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	11
ITEM 4.	CONTROLS AND PROCEDURES	11
PART II OTHER INFORMATION
ITEM 1	LEGAL PROCEEDINGS	12
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	12
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	12
ITEM 4	MINE SAFETY DISCLOSURES	12
ITEM 5	OTHER INFORMATION	12
ITEM 6	EXHIBITS	12
	SIGNATURES	13

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ITEM 1. FINANCIAL STATEMENTS

AB INTERNATIONAL GROUP CORP. CONDENSED BALANCE SHEETS (unaudited)
		NOVEMBER 30, 2015	AUGUST 31, 2015
ASSETS
Current Assets
	Cash	$        2,207	$           5,857
	Prepaid expenses	6,667	9,167
	Total current assets	8,874	15,024
Fixed Assets
Computer equipment		800	800
Accumulated depreciation		(237)	(197)
Total Assets		$        9,437	$        15,627
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current  Liabilities
	Loan from shareholder	$     22,406	$         22,406
	Total current liabilities	22,406	22,406
Total Liabilities		22,406	22,406
Stockholders’ Deficit
	Common stock, $0.001 par value, 75,000,000 shares authorized;
	3,370,000 shares issued and outstanding	3,370	3,370
	Additional paid-in-capital	22,230	22,230
	Deficit accumulated during the development stage	(38,569)	(32,379)
Total Stockholders’ deficit		(12,969)	(6,779)
Total Liabilities and Stockholders’ Deficit		$     9,437	$         15,627

The accompanying notes are an integral part of these condensed, unaudited financial statements.

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AB INTERNATIONAL GROUP CORP. CONDENSED STATEMENTS OF OPERATIONS (unaudited)
	Three months ended November 30, 2015	Three months ended November 30, 2014
Revenues	$       -	$        8,200
Cost of goods sold	-	7,000
Gross Profit	-	1,200
Operating Expenses
General and administrative expenses	6,190	2,602
Total Operating Expenses	6,190	2,602
Net loss  from operations	(6,190)	(1,402)
Loss before taxes	(6,190)	(1,402)
Provision for taxes	-	-
Net  loss	$    (6,190)	$ (1,402)
Loss per common share:  Basic and Diluted	$   (0.00)*	$  (0.00)*
Weighted Average Number of Common Shares  Outstanding: Basic and Diluted	3,370,000	2,800,000
* Denotes a loss of less than $(0.01) per share

The accompanying notes are an integral part of these condensed, unaudited financial statements.

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AB INTERNATIONAL GROUP CORP. CONDENSED STATEMENTS OF CASH FLOWS (unaudited)
		Three months ended November 30, 2015	Three months ended November 30, 2014
Operating Activities
	Net loss	$    (6,190)	$    (1,402)
	Adjustments to reconcile net loss to net cash in operating activities:
	Depreciation	40	40
	Changes in current assets and liabilities:
	Prepaid expenses	2500	-
	Accrued expenses	-	1500
	Net cash provided by (used in) operating activities	(3,650)	138
Investing Activities
Purchase of computer		-	-
Net cash provided by (used in) investing activities		-	-
Financing Activities
	Proceeds from sale of common stock	-	-
	Proceeds from loan from shareholder	-	7,000
	Net cash provided by financing activities	-	7,000
Net increase (decrease) in cash and equivalents		(3,650)	7,138
Cash and equivalents at beginning of the period		5,857	3,569
Cash and equivalents at end of the period		$    2,207	$    10,707
	Supplemental cash flow information:
	Cash paid for:
	Interest	$        -	$         -
	Taxes	$        -	$         -

The accompanying notes are an integral part of these condensed, unaudited financial statements.

5

AB INTERNATIONAL GROUP CORP.

NOTES TO CONDENSED(UNAUDITED)FINANCIAL STATEMENTS

November 30, 2015

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS

AB INTERNATIONAL GROUP CORP. (the “Company”, “we” or “us”) was incorporated under the laws of the State of Nevada on July 29, 2013 (“Inception”) and has adopted an August 31 fiscal year end.

The Company intends to purchase used cars in the United States and sell them in Krygyzstan. Since July 29, 2013 (“Inception”) through November 30, 2015, the Company has generated revenue of $8,200 and has accumulated losses of $38,569.

NOTE 2 – GOING CONCERN

The Company has incurred a loss since Inception (July 29, 2013) resulting in an accumulated deficit of $38,569 as of November 30, 2015and further losses are anticipated in the development of its business.  Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern.  

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and, or, the  private placement of common stock.  

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

 The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year -end is August 31.

The accompanying condensed financial statements of the Company have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations.  These condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary to present fairly the results of operations of the Company for the periods presented.  These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K for the year ended August 31, 2015.  The results of operations for the nine months ended September 30, 2015, are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2015.

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The preparation of the financial statements in conformity with generally accepted accounting principles, in the United States of America, require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

No potentially dilutive debt or equity instruments were issued or outstanding during the three months periods ended November 30, 2015 and 2014.

Recent accounting pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company other than those relating to Development Stage Entities as discussed above.

NOTE 4 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to November 30, 2015 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKING STATEMENTS

Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

General

We were incorporated in the State of Nevada on July 29, 2013. We plan to be in the business of selling used cars that we purchase in the United States to customers in Kyrgyzstan. We plan to purchase our cars primarily at used cars stores, private sellers, dealer-auctions and sell them to private buyers or other car dealers in Kyrgystan. We plan to develop a website that will display a variety of used cars and their prices in US market, and will advertise our services and fees. As of today, we purchased a car for $7,000, which we then sold for $8,200. This purchase was financed by Beken Aitbaev, our president and director, who loaned the Company funds. We may borrow funds from Beken Aitbaev, our president and director for future purchases, however, he has no formal commitment, arrangement or legal obligation to advance or loan funds to the company. We are a development stage company and have generated $8,200 in revenue.

RESULTS OF OPERATION

We are a development stage company and have generated only limited revenue to date. We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

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THREE MONTH PERIOD ENDED NOVEMBER 30, 2015 COMPARED TO THE THREE MONTH PERIOD ENDED NOVEMBER 30, 2014

REVENUE

During the three month period ended November 30, 2015 we did not generate any revenue. During the three month period ended November 30, 2014 we generated $8,200 in revenue. We sold a single vehicle during the three month period ended November 30, 2014 while we sold no vehicles during the three month period ended November 30, 2015.

COST OF GOODS SOLD

We recognized no expense for cost of goods sold during the three month period ended November 30, 2015.  We recognized an expense of $7,000 for cost of goods sold during the three month period ended November 30, 2014.

OPERATING EXPENSES

During the three month period ended November 30, 2015, we incurred general and administrative expenses of $6,190 compared to $2,602 incurred during the three month period ended November 30, 2014.  General and administrative expenses incurred during the three month period ended November 30, 2015 were generally related to corporate overhead, financial and administrative contracted services, such as legal and accounting, developmental costs, and marketing expenses.

NET LOSS

Our net loss for the three month period ended November 30, 2015 was $6,190 compared to a net loss of $1,402 during the three month period ended November 30, 2014 due to the factors discussed above.

LIQUIDITY AND CAPITAL RESOURCES

THREE MONTH PERIOD ENDED NOVEMBER 30, 2015  

As of November 30, 2015, our total assets were $9,437 compared to $15,627 in total assets at August 31, 2015. Total assets as of November 30, 2015 comprised cash of $2,207, prepaid expenses of $6,667 and $563 in fixed assets while as at August 31, 2015 total assets comprised cash of $5,857, prepaid expenses of $9,167 and $603 in fixed assets. As of November 30, 2015 and August 31, 2015, our current liabilities were $22,406 comprising of $22,406 in advances from a Director.

Stockholders’ deficit was $12,969 as of November 30, 2015 compared to stockholders’ deficit of $6,779 as of August 31, 2015.   

CASH FLOWS FROM OPERATING ACTIVITIES

We have not generated positive cash flows from operating activities. For the three month period ended November 30, 2015, net cash flows used in operating activities were $3,650 consisting of a net loss of $6,190, prepaid expenses of $2,500 and depreciation of $40. Net cash flows provided by operating activities was $138 for the three month period ended November 30, 2015 consisting of a net loss of $1,402, accrued expenses of $1,500 and depreciation of $40.

9

CASH FLOWS FROM INVESTING ACTIVITIES

We neither generated, nor used, funds in investing activities during the Three months ended November 30, 2015 or 2014.

CASH FLOWS FROM FINANCING ACTIVITIES

We have financed our operations primarily from either advances from shareholders or the issuance of equity instruments. For the three month period ended November 30, 2015 net cash provided by financing activities was $0. For the Three month periods ended November 30, 2014 net cash provided by financing activities was $7,000, received by way of loan from our principal shareholder.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds, further issuances of securities and loans from our principal shareholder. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next Three months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

MATERIAL COMMITMENTS

As of November 30, 2015, we had no material commitments.

PURCHASE OF SIGNIFICANT EQUIPMENT

We do not intend to purchase any significant equipment during the next twelve months.

10

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

GOING CONCERN

The independent auditors' audit report accompanying our August 31, 2015 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable for smaller reporting companies. 

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of November 30, 2015. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed that there was no change in our internal control over financial reporting during the Three-month period ended November 30, 2015 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

11

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Management is not aware of any legal proceedings contemplated by any governmental authority or any other party involving us or our properties. As of the date of this Quarterly Report, no director, officer or affiliate is (i) a party adverse to us in any legal proceeding, or (ii) has an adverse interest to us in any legal proceedings. Management is not aware of any other legal proceedings pending or that have been threatened against us or our properties.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

In January and February 2015, the Company sold 570,000 shares of its common stock at $0.04 per share for total proceeds of $22,800.

These shares were sold pursuant to our registration statement on Form S-1 that became effective on January 22, 2015.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

No senior securities were issued or outstanding during the three and Three months ended November 30, 2015 or 2014.

ITEM 4. MINE SAFETY DISLOSURES

Not applicable to our Company.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibits:

31.1 Certification of Chief Executive Officer and Chief Financial Officer  pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

101 Interactive data files pursuant to Rule 405 of Regulation S-T. 

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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	AB INTERNATIONAL GROUP CORP.
Dated: December 14, 2015	By: /s/ Beken Aitbaev
	Beken Aitbaev President and Chief Executive Officer and Chief Financial Officer

13

EX-31

Exhibit 31.1

CERTIFICATION

I, Beken Aitbaev, President and Chief Executive Officer and Chief Financial Officer of AB INTERNATIONAL GROUP CORP., certify that:

1.   I have reviewed this Quarterly Report on Form 10-Q of AB INTERNATIONAL GROUP CORP.;

2.   Based on my knowledge, this report does not contain any untrue statement of material  fact or omit to  state a  material  fact  necessary  to make  the statements made, in light of the circumstances  under which such statements  were made, not  misleading  with respect to the period covered by quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial  information included in this Report,  fairly present in all material respects the financial  condition,  results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   The  registrant's  other  certifying  officer(s) and I are  responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules  13a-15(e) and 15d- 15(e)) and internal  control over financial  reporting  (as  defined  in  Exchange  Act Rules  13a-15(f)  and 15d-15(f)) for the registrant and have:

     a)   designed  such  disclosure  controls  and  procedures,  or caused such  disclosure   control  and   procedures   to  be  designed   under  our  supervision,  to ensure  that  material  information  relating  to the registrant,  including its consolidated subsidiaries, is made known to us by others within those entities,  particularly during the period in which this report is being prepared;

     b)   designed such internal  control over  financial  reporting,  or caused such internal  control over  financial  reporting to be designed under  our  supervision,   to  provide  reasonable  assurance  regarding  the reliability  of financial  reporting and the  preparation of financial statements for external purposes in accordance with generally accepted  accounting principles;

     c)   evaluated the  effectiveness of the registrant's  disclosure  controls and procedures and presented in this report our conclusions  about the  effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

     d)   disclosed  in this  report  any  change in the  registrant's  internal  control over financial reporting that occurred during the registrant's  most recent fiscal quarter (the registrant's  fourth fiscal quarter in the case of an annual  report)  that has  materially  affected,  or is  reasonably  likely to materially  affect,  the  registrant's  internal  control over financial reporting; and

5.   The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

     a)   all significant  deficiencies and material weaknesses in the design or operation  of internal  control  over  financial  reporting  which are reasonably  likely to  adversely  affect the  registrant's  ability to record, process summarize and report financial information; and

     b)   any fraud, whether or not material,  that involves management or other employees who have a  significant  role in the  registrant's  internal control over financial reporting.

Date: December 14, 2015

/s/ Beken Aitbaev

____________________________

Beken Aitbaev, President,

Chief Executive Officer and Chief Financial Officer

EX-32

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with the  Quarterly  Report of AB INTERNATIONAL GROUP CORP.(the "Company")  on Form 10-Q for the period  ended  November 30, 2015 as filed with the Securities  and  Exchange  Commission  on the date  hereof (the  "Report"),  the undersigned,  in the  capacities  and  on  the  dates  indicated  below,  hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

     1.   The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

     2.   The  information  contained  in the  Report  fairly  presents,  in all material respects,  the financial  condition and   results of operations  of the Company.

Date: December 14, 2015

/s/ Beken Aitbaev

Beken Aitbaev

President,Chief Executive Officer and

Chief Financial Officer

XML

Document and Entity Information	3 Months Ended
	Nov. 30, 2015 shares
Document and Entity Information:
Entity Registrant Name	AB INTERNATIONAL GROUP CORP.
Document Type	10-Q
Document Period End Date	Nov. 30, 2015
Trading Symbol	abqq
Amendment Flag	false
Entity Central Index Key	0001605331
Current Fiscal Year End Date	--08-31
Entity Common Stock, Shares Outstanding	3,370,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1

XML

Statement of Financial Position - USD ($)	Nov. 30, 2015	Aug. 31, 2015
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$ 2,207	$ 5,857
Prepaid Expense, Current	6,667	9,167
Assets, Noncurrent
Property, Plant and Equipment, Gross	563	603
Assets	9,437	15,627
Liabilities, Noncurrent
Due to Related Parties, Noncurrent	22,406	22,406
Liabilities	22,406	22,406
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Common Stock, Value, Issued	3,370	3,370
Additional Paid in Capital, Common Stock	22,230	22,230
Retained Earnings (Accumulated Deficit)	(38,569)	(32,379)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (12,969)	$ (6,779)
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	3,370,000	2,800,000
Common Stock, Shares Outstanding	3,370,000	2,800,000
Liabilities and Equity	$ 9,437	$ 15,627

XML

Statement of Operations (Unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Revenues
Sales Revenue, Goods, Net		$ 8,200
Revenues		8,200
Cost of Revenue
Cost of Goods Sold		7,000
Cost of Revenue		7,000
Gross Profit		1,200
Amortization of Deferred Charges
Administrative Expense	$ 6,190	2,602
Total Operating Expenses	6,190	2,602
Net loss from operations	(6,190)	(1,402)
Interest and Debt Expense
Net Income (Loss)	$ (6,190)	$ (1,402)
Earnings Per Share
Weighted Average Number of Shares Outstanding, Basic	3,370,000	2,800,000
Earnings Per Share, Basic and Diluted	$ 0	$ 0

XML

Statements of Cash Flows (unaudited) - USD ($)	3 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Net Cash Provided by (Used in) Operating Activities
Net loss for the period	$ (6,190)	$ (1,402)
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Depreciation	40	40
Increase (Decrease) in Operating Assets
Increase (Decrease) in Prepaid Expense and Other Assets	2,500
Increase (Decrease) in Operating Liabilities
Increase (Decrease) in Accounts Payable		1,500
Net Cash Provided by (Used in) Operating Activities	(3,650)	138
Net Cash Provided by (Used in) Investing Activities
Net Cash Provided by (Used in) Investing Activities	0	0
Net Cash Provided by (Used in) Financing Activities
Proceeds from director loans		7,000
Net Cash Provided by (Used in) Financing Activities	0	7,000
Cash and Cash Equivalents, Period Increase (Decrease)	(3,650)	7,138
Cash and Cash Equivalents, at Carrying Value	5,857	3,569
Cash and Cash Equivalents, at Carrying Value	$ 2,207	$ 10,707

XML

Organization, Consolidation and Presentation of Financial Statements

3 Months Ended

Nov. 30, 2015

Organization, Consolidation and Presentation of Financial Statements:

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies

AB INTERNATIONAL GROUP CORP.

NOTES TO CONDENSED(UNAUDITED)FINANCIAL STATEMENTS

November 30, 2015

NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS

AB INTERNATIONAL GROUP CORP. (the “Company”, “we” or “us”) was incorporated under the laws of the State of Nevada on July 29, 2013 (“Inception”) and has adopted an August 31 fiscal year end.

The Company intends to purchase used cars in the United States and sell them in Krygyzstan. Since July 29, 2013 (“Inception”) through November 30, 2015, the Company has generated revenue of $8,200 and has accumulated losses of $38,569.

NOTE 2 – GOING CONCERN

The Company has incurred a loss since Inception (July 29, 2013) resulting in an accumulated deficit of $38,569 as of November 30, 2015and further losses are anticipated in the development of its business.  Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern. 

The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and, or, the  private placement of common stock. 

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

 The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company’s year -end is August 31.

The accompanying condensed financial statements of the Company have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations.  These condensed financial statements reflect all adjustments (consisting only of normal recurring adjustments) that, in the opinion of management, are necessary to present fairly the results of operations of the Company for the periods presented.  These condensed financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K for the year ended August 31, 2015.  The results of operations for the nine months ended September 30, 2015, are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2015.

The preparation of the financial statements in conformity with generally accepted accounting principles, in the United States of America, require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.

Basic and Diluted Income (Loss) Per Share

The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period.  Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive.

No potentially dilutive debt or equity instruments were issued or outstanding during the three months periods ended November 30, 2015 and 2014.

Recent accounting pronouncements

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company other than those relating to Development Stage Entities as discussed above.

NOTE 4 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to November 30, 2015 to the date these financial statements were issuedand has determined thatit does not have any material subsequent events to disclose in these financial statements.