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Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,521,663) $ (415,331)
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Executive salaries and consulting fees paid in stock 315,127 85,102
Depreciation of fixed asset 26,448 26,204
Amortization of intangible asset 424,207 61,899
Impairment of intangible asset 111,115
Loss/(gain) on sales of intangible assets
Loss/(gain) from change in fair value of derivatives (19,094) 50,326
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 note 128,316
Non-cash interest for convertible notes 128,661 147,799
Non-cash note conversion fees 8,750
Non-cash lease expense 1,190
Changes in operating assets and liabilities:    
Accounts receivable 86,362 (76,800)
Receivable on asset disposal 1,280,000
Interest receivable 26,240 (52,416)
Related party receivable 86,142 (52,588)
Prepaid expenses 6,024 (30,776)
Rent security & electricity deposit 3,891
Purchase of movie and TV series broadcast right and copyright (2,839,049) (992,000)
Accounts payable and accrued liabilities (250,649) (23,614)
Due to / from shareholders 63,113
Tax payable (1,403) (7,814)
Other payable 243 (157,824)
Net cash used in operating activities (3,291,987) (46,718)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from note receivable collection 1,049,600
Purchase of furniture and equipment 5,000
Net cash used in investing activities (5,000) (1,049,600)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes 233,017 311,360
Proceeds from common stock issuances 793,729
Proceeds from preferred share issuances 563,500
Payments for warrant termination 95,000
Prepayments of convertible notes 428,606
Net cash provided by financing activities 1,066,639 311,360
Net increase (decrease) in cash and cash equivalents (2,230,258) (784,958)
Cash and cash equivalents - beginning of the quarter 2,455,061 1,564,750
Cash and cash equivalents - end of the quarter 224,804 779,792
Supplemental Cash Flow Disclosures    
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Activities:    
Cashless warrant exercises 137,766 133,023
Convertible notes converted to common shares 183,752
Additions to ROU assets from operating lease liabilities 20,038
Common shares returned due to officer resignations $ (391,666)