INTANGIBLE ASSETS

9 Months Ended

May 31, 2021

Intangible Assets, Net (Including Goodwill) [Abstract]

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

As of May 31, 2021 and August 31, 2020, the balance of intangible assets are as follows;

	May 31, 2021			August 31, 2020
Patent	$	500,000		$	500,000
Movie copyrights		1,612,809			—
Movie and TV series broadcast rights		2,439,840			—
Total cost		4,552,649			500,000
Accumulated amortization		(1,178,001	)		(325,000)
Intangible assets, net	$	3,374,648		$	175,000

Intangible assets include 1) a patent obtained from Guangzhou Shengshituhua Film and Television Company Limited as a worldwide license to a video synthesis and release system for mobile communications equipment, 2) movie copyrights for the movie “Ai Bian Quan Qiu” and “Kaishieryi”, and 3) broadcast rights for fifty-nine movie and TV series. The amortization expense for nine months ended May 31, 2021 and May 31, 2020 was $853,001 and $88,731, respectively.