NOTE 15 – CONCENTRATION RISK	12 Months Ended
Aug. 31, 2022
Risks and Uncertainties [Abstract]
NOTE 15 – CONCENTRATION RISK	NOTE 15 – CONCENTRATION RISK *Sales concentration* 70% and 26% of the total revenue were generated from two customers, including a related party (see Note 12) during the year ended August 31, 2022. 89% of the total revenue was generated from one customer during the year ended August 31, 2021. There were no accounts receivable balances as of August 31, 2022 and 2021. *Credit risk* Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 500,000 (approximately $64,000) if the bank with which an individual/a company hold its eligible deposit fails. As of August 31, 2022 and 2021, cash balance of $70,602 and $131,796, respectively, were maintained at financial institutions in Hong Kong, and were subject to credit risk. In the US, the insurance coverage of each bank is $250,000. As of August 31, 2022 and 2021, cash balance of $13,621 and $0 respectively, were maintained at financial institutions in the US, and were subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their creditworthiness.

NOTE 15 – CONCENTRATION RISK

12 Months Ended

Aug. 31, 2022

NOTE 15 – CONCENTRATION RISK

Sales concentration

70% and 26% of the total revenue were generated from two customers, including a related party (see Note 12) during the year ended August 31, 2022. 89% of the total revenue was generated from one customer during the year ended August 31, 2021. There were no accounts receivable balances as of August 31, 2022 and 2021.

Credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 500,000 (approximately $64,000) if the bank with which an individual/a company hold its eligible deposit fails. As of August 31, 2022 and 2021, cash balance of $70,602 and $131,796, respectively, were maintained at financial institutions in Hong Kong, and were subject to credit risk. In the US, the insurance coverage of each bank is $250,000. As of August 31, 2022 and 2021, cash balance of $13,621 and $0 respectively, were maintained at financial institutions in the US, and were subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their creditworthiness.