INTANGIBLE ASSETS

9 Months Ended

May 31, 2019

Notes to Financial Statements

INTANGIBLE ASSETS

As of May 31, 2019, and August 31, 2018, the balance of intangible assets are as follows;

	May 31, 2019			August 31, 2018
Patent	$	500,000		$	500,000
Intellectual property: Aura		—			200,000
Intellectual property: Kryptokiosk		72,000			72,000
Wechat official account		99,584			—
Total cost		671,584			772,000
Accumulated amortization		(220,904	)		(131,000)
Intangible asset, net	$	450,680		$	641,000

Amortization expenses for nine months ended May 31, 2019 and 2018 was $89,904 and $89,312, respectively.

On November 10, 2018, the Company sold the $200,000 intellectual property from Aura Blocks Limited for $80,000 with a realized loss of $120,000.