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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2020
Aug. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss from operations $ (1,523,071) $ (404,635)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Executive salaries and consulting fees paid in stock 169,768 197,052
Depreciation of fixed asset 52,446 13,079
Amortization of intangible asset 113,731 126,791
Impairment of intangible asset 125,062
Loss/(gain) on sales of intangible assets 120,000
Gain /Loss from change in fair value of derivatives 64,584
Interest expense 255,512
Non cash note conversion fees 24,750
Adjustment due to ASC 842 adoption for lease 4,211
Non-cash lease expense 4,441
Changes in operating assets and liabilities:    
Accounts receivable (102,400) (25,700)
Receivable on asset disposal 1,280,000 (1,280,000)
Interest receivable (17,515) (8,725)
Related party receivable (52,588) (34,994)
Prepaid expenses 10,946 301,897
Rent security & electricity deposit (3,400) (15,027)
Long-term prepayment (1,742,080)
Accounts payable and accrued liabilities 248,314 140,223
Accrued payroll (112,136)
Due to shareholder (1,561)
Tax payable (7,814) 9,217
Other payable (157,824) 161,856
Net cash used in operating activities (1,263,370) (811,102)
CASH FLOWS FROM INVESTING ACTIVITIES    
Sales of intangible asset 80,000
Issuance of note receivable (1,047,040)
Proceeds collected from note receivable 1,047,040
Renovation of an office and an offline display store 167,726
Development of intangible asset 99,584
Net cash used in / (provided by) investing activities 1,047,040 (1,234,350)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes and warrants 592,641
Proceeds from common stock issuances 514,000 3,400,000
Net cash provided by financing activities 1,106,641 3,400,000
Net increase in cash and cash equivalents 890,311 1,354,549
Cash and cash equivalents - beginning of year 1,564,750 210,202
Cash and cash equivalents - end of the year 2,455,061 1,564,750
Supplemental Cash Flow Disclosures    
Cash paid for interest
Cash paid for income taxes
Non-Cash Activities:    
Issuance of warrants in conjunction with convertible notes 145,423
Cashless warrant exercises 43,247
Convertible notes converted to common shares $ 309,894
Common shares returned for cancelled acquisition of iCrowdU (10,000)
Prepaid expense reversed for cancelled acquisition of iCrowdU $ 10,000
Additions to ROU assets from operating lease liabilities $ 228,510
Common shares returned due to officer resignations (228,222)