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Condensed Consolidated Balance Sheets - USD ($)
May 31, 2020
Aug. 31, 2019
Current Assets    
Cash and cash equivalents $ 1,691,057 $ 1,564,750
Prepaid expenses 21,739 21,970
Accounts receivable 112,100 35,300
Related party receivable 87,581 34,994
Note receivable 1,047,040 1,047,040
Interest receivable 34,965 8,725
Receivable on asset disposal 1,280,000
Total Current Assets 2,994,482 3,992,779
Fixed assets, net 17,337 20,124
Leasehold improvement, net 97,537 134,523
Intangible assets, net 213,947 413,793
Long-term prepayment 1,011,200
Other assets 15,027 15,027
TOTAL ASSETS 4,349,530 4,576,246
Current Liabilities    
Accounts payable and accrued liabilities 66,720 116,664
Convertible note and derivative liability 435,273
Due to shareholder 2,863 2,037
Tax payable 56,750 64,564
Other payable 3,584 161,856
Total Current Liabilities 565,190 345,121
Stockholders’ Equity    
Common stock, $0.001 par value, 1,000,000,000 shares authorized; 4,822,016 and 4,822,016 shares issued and outstanding, as of May 31, 2020 and August 31, 2019, respectively 4,822 4,822
Additional paid-in capital 6,677,965 6,520,980
Accumulated deficit (2,183,225) (1,452,020)
Unearned shareholders' compensation (715,222) (842,657)
Total Stockholders’ Equity 3,784,340 4,231,125
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,349,530 $ 4,576,246