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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
May 31, 2021
Nov. 30, 2020
May 31, 2020
May 31, 2021
May 31, 2020
Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES            
Net loss from operations       $ (1,722,474) $ (731,204)  
Adjustments to reconcile net income (loss) to net cash from operating activities:            
Executive salaries and consulting fees paid in stock       564,877 127,435  
Depreciation of fixed asset       39,748 39,325  
Amortization of intangible asset       853,001 88,731  
Impairment of intangible asset       111,115 $ 125,062
Loss/(gain) from change in fair value of derivatives $ 58,090   (64,584) 54,316  
Loss/(gain) from lease termination   3,250  
Loss/(gain) from warrant termination   12,343  
Loss/(gain) from warrant exercise   75,000  
Loss/(gain) prepaid convertible note 104,482   232,797  
Interest expense       156,822 193,591  
Non-cash note conversion fees       8,750  
Non-cash lease expense       1,761  
Changes in operating assets and liabilities:            
Accounts receivable       137,700 (76,800)  
Receivable on asset disposal       1,280,000  
Interest receivable       26,240 (26,240)  
Related party receivable       (571,380) (52,588)  
Prepaid expenses       9,024 231  
Rent security & electricity deposit       1,987  
Long-term prepayment       513,280 (1,011,200)  
Accounts payable and accrued liabilities       (267,149) (49,945)  
Due to / from shareholders       (218) 826  
Tax payable       (1,403) (7,814)  
Other payable       243 (157,824)  
Net cash provided by / (used in) operating activities       9,616 (218,045)  
CASH FLOWS FROM INVESTING ACTIVITIES            
Purchase of movie and TV series broadcast right and copyright       4,052,649  
Purchase of furniture and equipment       5,000  
Net cash used in investing activities       (4,057,649)  
CASH FLOWS FROM FINANCING ACTIVITIES            
Proceeds from issuance of convertible notes       233,017 344,352  
Proceeds from common stock issuances       1,530,619  
Proceeds from preferred share B issuances       320,000  
Proceeds from preferred share C issuances       243,500  
Proceeds from preferred share D issuances       250,000  
Payments for warrant termination       95,000  
Prepayments of convertible notes       821,970  
Net cash provided by financing activities       1,660,166 344,352  
Net increase (decrease) in cash and cash equivalents       (2,387,867) 126,307  
Cash and cash equivalents - beginning of the quarter   $ 2,455,061   2,455,061 1,564,750 1,564,750
Cash and cash equivalents - end of the quarter $ 67,195   $ 1,691,057 67,195 1,691,057 $ 2,455,061
Supplemental Cash Flow Disclosures            
Cash paid for interest        
Cash paid for income taxes        
Non-Cash Investing and Financing Activities:            
Cashless warrant exercises       137,766  
Issuance of warrants in conjunction with convertible notes       156,985  
Convertible notes converted to common shares       183,752  
Additions to ROU assets from operating lease liabilities       27,421  
Common shares returned due to officer resignations       (391,667)  
Preferred shares converted into common shares       $ 3,880