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Consoolidated Statements of Cash Flows - USD ($)
12 Months Ended
Aug. 31, 2021
Aug. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (3,608,097) $ (1,523,071)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Executive salaries and consulting fees paid in stock 568,627 169,768
Depreciation of fixed asset 53,048 52,446
Amortization of intangible asset 1,468,728 113,731
Impairment of intangible asset 125,062
Loss/(gain) from change in fair value of derivatives (64,584) 64,584
Loss/(gain) from lease termination 3,251
Loss/(gain) from warrant termination 12,343
Loss/(gain) from warrant exercise 75,000
Loss/(gain) prepaid convertible notes 232,797
Non-cash interest for convertible notes 156,822 255,512
Non-cash note conversion fees 8,750 24,750
Non-cash dividend expense for preferred shares 25,835
Non-cash lease expense 1,590 (230)
Changes in operating assets and liabilities:    
Accounts receivable 137,700 (102,400)
Receivable on asset disposal 1,280,000
Interest receivable 26,240 (17,515)
Related party receivable 86,142 (52,588)
Other receivable (644,785)
Prepaid expenses (2,542) 10,946
Rent security & electricity deposit 1,920 (3,400)
Purchase of movie and TV series broadcast right and copyright (4,312,053) (1,742,080)
Accounts payable and accrued liabilities (241,192) 248,314
Related party payable 927,930
Due to / from shareholders 1,871 (1,561)
Tax payable (56,750) (7,814)
Other payable 243 (157,824)
Net cash used in operating activities (5,141,166) (1,263,370)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds collected from note receivable 1,047,040
Purchase of furniture and equipment (5,000)
Net cash provided by /(used in) investing activities (5,000) 1,047,040
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes 233,017 592,641
Proceeds from common stock issuances 2,220,812 514,000
Proceeds from preferred share B issuances 320,000
Proceeds from preferred share C issuances 243,500
Proceeds from preferred share D issuances 723,000
Payments for warrant termination (95,000)
Prepayments of convertible notes (821,970)
Net cash provided by financing activities 2,823,359 1,106,641
Net increase (decrease) in cash and cash equivalents (2,322,808) 890,311
Cash and cash equivalents – beginning of the year 2,455,061 1,564,750
Cash and cash equivalents – end of the year 132,253 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 (43,247)
Issuance of warrants in conjunction with convertible notes 145,423
Convertible notes converted to common shares (183,752) (309,894)
Additions to ROU assets from operating lease liabilities 27,421 228,510
Common shares returned due to officer resignations (391,667) (228,222)
Preferred shares series C dividend paid in shares 16,802
Preferred shares series D dividend paid in shares 7,200
Preferred shares and dividend shares converted into common shares $ 990,502