XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
May 31, 2021
Aug. 31, 2020
Current Assets    
Cash and cash equivalents $ 67,195 $ 2,455,061
Prepaid expenses 2,000 11,024
Account receivable 137,700
Related party receivable 658,961 87,581
Due from shareholders 319,020 61,500
Interest receivable 26,240
Total Current Assets 1,047,176 2,779,106
Fixed assets, net 18,236 16,408
Leasehold improvement, net 48,769 85,345
Right of use lease assets, net 70,792 126,354
Intangible assets, net 3,374,648 175,000
Long-term prepayment 1,228,800 1,742,080
Other assets 16,440 18,427
TOTAL ASSETS 5,804,861 4,942,721
Current Liabilities    
Accounts payable and accrued liabilities 97,830 364,979
Current portion of obligations under operating leases 71,362 73,664
Convertible note and derivative liability 438,921
Due to shareholder 258 476
Tax payable 56,750
Other payable 3,827 3,584
Total Current Liabilities 173,277 938,374
Obligations under operating leases, non-current 48,249
Total Liabilities 173,277 986,623
Stockholders’ Equity    
Common stock, $0.001 par value, 1,000,000,000 shares authorized; 194,571,251 and 46,661,417 shares issued and outstanding, as of May 31, 2021 and August 31, 2020, respectively 194,571 46,661
Series A preferred stock, 100,000 and 0 shares issued and outstanding, as of May 31, 2021 and August 31, 2020, respectively 100
Series B preferred stock, 20,000 and 0 shares issued and outstanding, as of May 31, 2021 and August 31, 2020, respectively 20
Series C preferred stock, 280,025 and 0 shares issued and outstanding, as of May 31, 2021 and August 31, 2020, respectively 280
Series D preferred stock, 95 and 0 shares issued and outstanding, as of May 31, 2021 and August 31, 2020, respectively 0
Additional paid-in capital 10,085,842 7,271,983
Accumulated deficit (4,638,008) (2,970,881)
Unearned shareholders' compensation (11,223) (391,666)
Total Stockholders’ Equity 5,631,584 3,956,097
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,804,861 $ 4,942,721