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Consolidated Balance Sheets - USD ($)
Aug. 31, 2020
Aug. 31, 2019
Current Assets    
Cash and cash equivalents $ 2,455,061 $ 1,564,750
Prepaid expenses 11,024 21,970
Accounts receivable 137,700 35,300
Related party receivable 87,581 34,994
Due from shareholders 61,500
Note receivable 1,047,040
Interest receivable 26,240 8,725
Receivable on asset disposal 1,280,000
Total Current Assets 2,779,106 3,992,779
Fixed assets, net 16,408 20,124
Leasehold improvement, net 85,345 134,523
Right of Use Lease Assets, net 126,354
Intangible assets, net 175,000 413,793
Long-term prepayment 1,742,080
Other assets 18,427 15,027
TOTAL ASSETS 4,942,721 4,576,246
Current Liabilities    
Accounts payable and accrued liabilities 364,979 116,664
Current portion of obligations under operating leases 73,664
Convertible note and derivative liability 438,921
Due to shareholder 476 2,037
Tax payable 56,750 64,564
Other payable 3,584 161,856
Total Current Liabilities 938,374 345,121
Non-Current Liabilities    
Obligations under Operating Leases, non-current 48,249
Total Liabilities 986,623 345,121
Stockholders’ Equity    
Common stock, $0.001 par value, 1,000,000,000 shares authorized; 46,661,417 and 4,822,016 shares issued and outstanding, as of August 31, 2020 and August 31, 2019, respectively 46,661 4,822
Additional paid-in capital 7,271,983 6,520,980
Accumulated deficit (2,970,881) (1,452,020)
Unearned shareholders' compensation (391,666) (842,657)
Total Stockholders’ Equity 3,956,097 4,231,125
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,942,721 $ 4,576,246