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Consoolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
May 31, 2022
May 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (1,787,110) $ (2,608,544)
Adjustments to reconcile net loss to net cash from operating activities:    
Executive salaries and consulting fees paid in stock 323,723 564,877
Depreciation of fixed asset 39,902 39,748
Amortization of intangible asset 2,235,533 853,001
Loss/(gain) from change in fair value of derivatives (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 note 232,797
Interest expense 156,822
Non-cash note conversion fees 8,750
Non-cash dividend expense for preferred shares 17,343
Non-cash penalty expense 141,945
Non -cash lease expense 79,957 1,761
Changes in operating assets and liabilities:    
Accounts receivable (8,120) 137,700
Interest receivable 26,240
Related party receivable 1,439 86,142
Prepaid expenses 11,233 9,024
Rent security & electricity deposit (28,733) 1,987
Long-term prepayment (1,151,480)
Purchase of movie and TV series broadcast right and copyright (708,400) (3,539,369)
Accounts payable and accrued liabilities 215,622 (267,149)
Related party payable 115,907 283,896
Due to / from stockholders 22,741 (218)
Tax payable (56,750)
Other payable 243
Net cash used in operating activities (478,498) (4,043,032)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of furniture and equipment (5,000)
Net cash used in investing activities (280,000) (5,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of convertible notes 233,017
Proceeds from common stock issuances 370,422 1,530,619
Proceeds from preferred share B issuances 320,000
Proceeds from preferred share C issuances 440,585 243,500
Proceeds from preferred share D issuances 187,000 250,000
Payments for warrant termination (95,000)
Prepayments of convertible notes (821,970)
Net cash provided by financing activities 998,007 1,660,166
Net increase (decrease) in cash and cash equivalents 239,509 (2,387,866)
Cash and cash equivalents –beginning of the period 132,253 2,455,061
Cash and cash equivalents – end of the period 371,762 67,195
Supplemental Cash Flow Disclosures    
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Activities:    
Cashless warrant exercises 137,766
Convertible notes converted to common shares (183,752)
Transfer from other receivable to long term prepayment 644,785
Transfer from long term prepayment to intangible assets 761,600
Additions to ROU assets from operating lease liabilities 1,207,789 27,421
Common shares returned due to officer resignations $ (391,667)