LONG-TERM PREPAYMENT

6 Months Ended

Feb. 29, 2020

Long-term Debt, Unclassified [Abstract]

LONG-TERM PREPAYMENT

In September 2019, the Company entered into an agreement with its related party Youall Perform Services Ltd. for upgrading software of the “Ai Bian Quan Qiu” platform at a cost of $128,000. $108,800 has been paid as of February 29, 2020 and booked as long-term prepayment.

In November 2019, the Company acquired two movie copyrights at a price of $256,000 for “Lushang” and $115,200 for “Qi Qing Kuai Che”. Both of them have been fully paid. The estimated earliest release date of these two movies will be in the third quarter of FY2021.

In January 2020, the Company acquired another movie copyright “Ai Bian Quan Qiu” at a price of $870,978. As of February 29, 2020, $512,000 has been paid for this movie copyright.