INTANGIBLE ASSETS

3 Months Ended

Nov. 30, 2017

Notes to Financial Statements

NOTE 4 – INTANGIBLE ASSETS

As of November 30, 2017, and August 31, 2017, the balance of intangible assets are as follows;

	November 30,			August 31,
	2017			2017
Mobile app	$	-		$	100,000
Patent		500,000			500,000
Copyright		-			138,240
		500,000			738,240
Accumulated amortization		(50,000	)		(55,528	)
Intangible asset, net	$	450,000		$	682,712

Amortization expenses for three months ended November 30, 2017, and 2016, was $36,912 and $5,000, respectively.

During the three months ended November 30, 2017, the Company sold the copyright and all other rights and the mobile application (Amoney) assets to an unrelated party for $253,000. The Company recorded gain on sales of assets of $57,200 as discontinued operations during the three months ended November 30 ,2017.