RELATED PARTY TRANSACTIONS	12 Months Ended
Aug. 31, 2018
Notes to Financial Statements
RELATED PARTY TRANSACTIONS	In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. In May 2018, the Company appointed Ian Wright as Chief Operational Officer, and Luis Hadic as Chief Financial Officer. In July, 2018, the Company appointed Alexander Holtermann as Chief Executive Officer, Chiyuan Deng as President, and Jianli Deng as secretary and treasurer. On October 18, 2018, the Company entered into an Agreement For Termination And Release and accepted the resignation of Alexander, Ian Wright and Luis Hadic. In August, Ying Zhang has resigned as vice president and director. During the year ended August 31, 2018, a shareholder has advanced the Company $424 for operating expenses. During the year ended August 31, 2017, a shareholder was repaid $1,184. As at August 31, 2018 and 2017, the Company owed $2,037 and $1,613 to this shareholder, respectively. The amounts are due on demand, unsecured, and non-interest bearing. During the year ended August 31, 2018 and 2017, $79,741 was paid to four related parties and $30,000 was paid to two related parties as salaries and wages, respectively. Among the $79,741, $67,241 was paid to two executives and two former directors of the Company, and $12,500 was paid to two related parties in the form of stock compensation. Please see Note 9 for details of the stock compensation. On June 1, 2017, we entered into a Patent License Agreement (the “Agreement”) pursuant to which Guangzhou Shengshituhua Film and Television Company Limited, a company incorporated in China (“Licensor”), granted the Company a worldwide license to a video synthesis and release system for mobile communications equipment (the “Technology”), which Technology is the subject of a utility model patent in the People’s Republic of China. Under the Agreement we are able to utilize, improve upon, and sublicense the technology for an initial period of 5 years, subject to a right to renew for an additional 5 year term. We are in the process of using the underlying technology to create a smartphone app marketing engine to be used for movie trailer promotion in China. The Company is obligated to pay the Licensor a $500,000 within 30 days of the date of the Agreement, and a royalty fee in the amount of 20% of any proceeds resulting from our utilization of the Technology, whether in the form of sub-licensing fees or sales of licensed products. Our Chief Executive Officer, Chiyuan Deng and former Chief Executive Officer, Jianli Deng, joint owns and controls Licensor During the year ended August 31, 2017, the Company paid $361,760 and $138,240 was recorded as accounts payable. On October 10, 2017, the Company paid the balance owing of $138,204 (Note 7).

RELATED PARTY TRANSACTIONS

12 Months Ended

Aug. 31, 2018

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

In May 2018, the Company appointed Ian Wright as Chief Operational Officer, and Luis Hadic as Chief Financial Officer. In July, 2018, the Company appointed Alexander Holtermann as Chief Executive Officer, Chiyuan Deng as President, and Jianli Deng as secretary and treasurer. On October 18, 2018, the Company entered into an Agreement For Termination And Release and accepted the resignation of Alexander, Ian Wright and Luis Hadic. In August, Ying Zhang has resigned as vice president and director.

During the year ended August 31, 2018, a shareholder has advanced the Company $424 for operating expenses. During the year ended August 31, 2017, a shareholder was repaid $1,184. As at August 31, 2018 and 2017, the Company owed $2,037 and $1,613 to this shareholder, respectively. The amounts are due on demand, unsecured, and non-interest bearing.

During the year ended August 31, 2018 and 2017, $79,741 was paid to four related parties and $30,000 was paid to two related parties as salaries and wages, respectively. Among the $79,741, $67,241 was paid to two executives and two former directors of the Company, and $12,500 was paid to two related parties in the form of stock compensation. Please see Note 9 for details of the stock compensation.

On June 1, 2017, we entered into a Patent License Agreement (the “Agreement”) pursuant to which Guangzhou Shengshituhua Film and Television Company Limited, a company incorporated in China (“Licensor”), granted the Company a worldwide license to a video synthesis and release system for mobile communications equipment (the “Technology”), which Technology is the subject of a utility model patent in the People’s Republic of China. Under the Agreement we are able to utilize, improve upon, and sublicense the technology for an initial period of 5 years, subject to a right to renew for an additional 5 year term. We are in the process of using the underlying technology to create a smartphone app marketing engine to be used for movie trailer promotion in China. The Company is obligated to pay the Licensor a $500,000 within 30 days of the date of the Agreement, and a royalty fee in the amount of 20% of any proceeds resulting from our utilization of the Technology, whether in the form of sub-licensing fees or sales of licensed products. Our Chief Executive Officer, Chiyuan Deng and former Chief Executive Officer, Jianli Deng, joint owns and controls Licensor During the year ended August 31, 2017, the Company paid $361,760 and $138,240 was recorded as accounts payable. On October 10, 2017, the Company paid the balance owing of $138,204 (Note 7).