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SUBSEQUENT EVENTS
3 Months Ended
Nov. 30, 2019
Notes to Financial Statements  
SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to August 31, 2019 to the date these financial statements were issued.

 

On December 13, 2019, the Company entered into a Securities Purchase Agreement with Peak One Opportunity Fund, L.P., a Delaware limited partnership (“Peak One”), pursuant to which we issued and sold to the Peak One a convertible promissory note, dated December 9 2019 in the principal amount of $85,000 (the “Note”). On December 18, 2019, the Company received $65,312 less fees and commissions. In connection with the issuance of the Note, the Company granted Peak One a five-year cashless warrant (the “Warrant”) to purchase 10,000 shares of common stock at an exercise price of $10 per share.

 

On December 19, 2019, the Company paid off the balance of $51,200 to All In One Media Limited for acquiring the movie copyright of “Qi Qing Kuai Che”.

 

On January 2, 2020, the Company entered into a Securities Purchase Agreement with Auctus Fund, LLC (“Auctus”) pursuant to which the Company issued and sold to the Auctus a convertible promissory note, dated December 31, 2019, in the principal amount of $75,000. The Company received $59,250 less fees and commissions.

 

On January 9, 2020, the Company entered into a Securities Purchase Agreement with Crown Bridge Partners, LLC., a New York limited company (“Crown”), pursuant to which the Company issued and sold to Crown a convertible promissory note, dated January 8, 2020, in the principal amount of $121,500. The Company received $35,000 as the first tranche less fees and commissions.