EQUITY

12 Months Ended

Aug. 31, 2018

Notes to Financial Statements

EQUITY

Effective as of June 6, 2018, AB International Group Corporation amended its Articles of Incorporation to increase its authorized common stock to One Billion (1,000,000,000) shares, par value $0.001 per share.

During the year ended August 31, 2018, the Company issued common shares, as follows:

· 38,550,000 shares to the Company’s majority shareholder and third parties for proceeds of $1,156,500.

· 6,725,000 shares for consulting services of $184,350 to 16 consultants.

· 2,400,000 shares in consideration for the purchase of intangible assets held by KryptoKiosk.

· 2,000,000 shares for acquisition of shares of iCrowdU as collateral and 8,000,000 shares as consideration. The 10,000,000 shares have been returned to and cancelled by the Company by the date of the report due to the Agreement FOR Termination And Release as in Note 1.

· 60,000,000 shares for services of officers: 20,000,000 issued to Chiyuan Deng for employment as President, 20,000,000 issued to Alexander Holtermann for employment as Chief Executive Officer, 10,000,000 to Ian Wright for employment as Chief Operational Officer, and 10,000,000 to Jianli Deng for employment as Secretary and Treasurer. The arrangement with Alexander Holtermann and Ian Wright has been subsequently terminated after August 31, 2018. The services of Chiyuan Deng and Jianli Deng caused salaries expenses of $12,500 incurred in the year ended August 31, 2018.

During the year ended August 31, 2017, the company issued common stock, as follows;

· 3,000,000 common shares, for proceeds of $300,000 to a related party who is a major shareholder.

· 150,000 common shares, for proceeds of $15,000 to an unrelated party.

· 350,000 common shares, for services of $35,000 to two unrelated parties. 

As at August 31, 2018 and 2017, 147,325,000 and 29,650,000 issued and outstanding shares of common stock were held by approximately 32 and 11 shareholders of record, respectively.

During the year ended August 31, 2018, common stocks issued to Chiyuan Deng and Jianli Deng for salaries expenses to be accrued after the year end is recorded as unearned compensation cost of $918,100.