10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For The Quarterly Period Ended May 31, 2019

or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to ____________

Commission File Number 333-221548

LEADER CAPITAL HOLDINGS CORP

(Exact name of registrant issuer as specified in its charter)

Nevada	37- 1853394
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

Rm. 3, 9F., No.910, Sec. 2, Taiwan Blvd.,

Xitun Dist., Taichung City 407, Taiwan (R.O.C.)

(Address of principal executive offices, including zip code)

Registrant’s phone number, including area code +886-4-23138178

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES [X] NO [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section232.405 of this chapter) during the preceding twelve months (or shorter period that the registrant was required to submit and post such files).

YES [  ] NO [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer [  ] Accelerated Filer [  ] Non-accelerated Filer [  ] Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes [  ] No [X]

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class	Outstanding at July 22, 2019
Common Stock, $.0001 par value	105,184,073

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION	3
ITEM 1.	FINANCIAL STATEMENTS:	3
	Condensed Consolidated Balance Sheets as of May 31, 2019 (unaudited) and August 31, 2018 (audited)	3
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended May 31, 2019 and 2018 (unaudited)	4
	Condensed Consolidated Statements of Equity for the Three Months Ended May 31,2018 and 2019 and for the Nine Months Ended May 31, 2018 and 2019 (unaudited)	5
	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended May 31, 2019 and 2018 (unaudited)	6
	Notes to the Unaudited Condensed Consolidated Financial Statements	7 to 13
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	14 to 16
ITEM 3.	QUANTITATIVE AND QUALITATIVED IS CLOSURES ABOUT MARKET RISK	16
ITEM 4.	CONTROLS AND PROCEDURES	16
PART II	OTHER INFORMATION	17
ITEM 1	LEGAL PROCEEDINGS	17
ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	17
ITEM 3	DEFAULTS UPON SENIOR SECURITIES	17
ITEM 4	MINE SAFETY DISCLOSURES	17
ITEM 5	OTHER INFORMATION	17
ITEM 6	EXHIBITS	17
SIGNATURES		18

2

PART I — FINANCIAL INFORMATION

Item 1. Financial statements

LEADER CAPITAL HOLDINGS CORP

CONDENSED CONSOLIDATED BALANCE SHEETS

	As of
	May 31, 2019			August 31, 2018
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	151,289		$	839,323
Prepayments, deposits and other receivables		69,820			89,504
Notes receivable		273,283			-
Due from director		4,755			1,201
Due from related parties		-			878
Total current assets	$	499,147		$	930,906
Non-current assets
Plant and equipment, net	$	5,044		$	7,351
Leasehold improvement		7,189			11,235
Deposit		-			9,960
Total non-current assets	$	12,233		$	28,546
TOTAL ASSETS	$	511,380		$	959,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Other payables and accrued liabilities	$	50,646		$	77,015
Total current liabilities	$	50,646		$	77,015
TOTAL LIABILITIES	$	50,646		$	77,015
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding					-
Common stock, $ 0.0001 par value; 600,000,000 shares authorized; 105,184,073 and 104,275,395 shares issued and outstanding as of May 31, 2019 and August 31, 2018, respectively	$	10,519		$	10,428
Additional paid-in capital		1,888,909			1,434,661
Accumulated other comprehensive income		-			-
Accumulated deficit		(1,438,694	)		(562,652	)
TOTAL STOCKHOLDERS’ EQUITY	$	460,734		$	882,437
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	511,380		$	959,452

See accompanying notes to the condensed unaudited consolidated financial statements.

3

LEADER CAPITAL HOLDINGS CORP

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(UNAUDITED)

	For the three months ended May 31,						For the nine months ended May 31,
	2019			2018			2019			2018
REVENUE	$	-		$	-		$	-		$	-
COST OF REVENUE		-			-			-			-
GROSS PROFIT	$	-		$	-		$	-		$	-
OPERATING EXPENSES
General and administrative	$	(336,351	)	$	(93,275	)	$	(904,981	)	$	(405,949	)
LOSS FROM OPERATIONS	$	(336,351	)	$	(93,275	)	$	(904,981	)	$	(405,949	)
Interest expense	$	-		$	-		$	-		$	-
LOSS BEFORE INCOME TAX	$	(336,351	)	$	(93,275	)	$	(904,981	)	$	(405,949	)
Other income/(expense):
Other income-related parties	$	2,185		$	7,808		$	25,560		$	7,808
Interest income-non-related parties		3,216			-			3,381
Income tax expense		-			-			-			-
NET LOSS	$	(330,950	)	$	(85,467	)	$	(876,042	)	$	(398,141	)
Other comprehensive loss
Foreign currency translation loss	$	-		$	-		$	-		$	-
COMPREHENSIVE LOSS	$	(330,950	)	$	(85,467	)	$	(876,042	)	$	(398,141	)
Net loss per share - Basic and diluted	$	(0.003	)	$	(0.001	)	$	(0.01	)	$	(0.004	)
Weighted average number of common shares outstanding - Basic and diluted		104,778,733			103,175,203			104,778,733			102,578,628

See accompanying notes to the condensed unaudited consolidated financial statements.

4

LEADER CAPITAL HOLDINGS CORP

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE THREE MONTHS ENDED MAY 31, 2018 and 2019 AND FOR THE NINE MONTHS ENDED MAY 31, 2018 AND MAY 31, 2019

(UNAUDITED)

For the three months ended May 31, 2019

	COMMON STOCK												ACCUMULATED
	Number of shares			Amount			ADDITIONAL PAID-IN CAPITAL			ACCUMULATED DEFICIT			OTHER COMPREHENSIVE LOSSES			TOTAL EQUITY
Balance as of February 28, 2019		104,665,770		$	10,467		$	1,629,809		$	(1,107,744	)	$	1		$	532,531
Shares issued for development costs		908,678			91			454,248			-			-			454,339
Shares Cancelled		(390,375	)		(39	)		(195,148	)								(195,188	)
Accumulated other comprehensive income/(loss)		-			-			-			-			(1	)		(1	)
Net loss		-			-			-			(330,950	)		-			(330,950	)
Balance as of May 31, 2019 (unaudited)		105,184,073		$	10,519		$	1,888,909		$	(1,438,694	)	$	-		$	460,734

For the nine months ended May 31, 2019

	COMMON STOCK									ACCUMULATED
	Number of shares		Amount		ADDITIONAL PAID-IN CAPITAL		ACCUMULATED DEFICIT			OTHER COMPREHENSIVE LOSSES		TOTAL EQUITY
Balance as of August 31, 2018 (audited)		104,275,395	$	10,428	$	1,434,661	$	(562,652	)	$	-	$	882,437
Shares issued for development costs		908,678		91		454,248		-			-		454,339
Net loss		-		-		-		(876,042	)		-		(876,042	)
Balance as of May 31, 2019 (unaudited)		105,184,073	$	10,519	$	1,888,909	$	(1,438,694	)	$	-	$	460,734

For the three months ended May 31, 2018

	COMMON STOCK									ACCUMULATED
	Number of shares		Amount		ADDITIONAL PAID-IN CAPITAL		ACCUMULATED DEFICIT			OTHER COMPREHENSIVE INCOME		TOTAL EQUITY
Balance as of February 28, 2018		102,275,395	$	10,228	$	434,861	$	(333,850	)	$	1	$	111,240
Shares issued for IPO		2,000,000		200		999,815					-		1,000,015
Accumulated other comprehensive income/(loss)		-		-		-		-			1		1
Net loss		-		-		-		(85,705	)		-		(85,705	)
Balance as of May 31, 2018 (unaudited)		104,275,395	$	10,428	$	1,434,676	$	(419,554	)	$	1	$	1,025,551

For the nine months ended May 31, 2018

	COMMON STOCK									ACCUMULATED
	Number of shares		Amount		ADDITIONAL PAID-IN CAPITAL		ACCUMULATED DEFICIT			OTHER COMPREHENSIVE INCOME			TOTAL EQUITY
Balance as of August 31, 2017 (audited)		102,275,395	$	10,228	$	434,861	$	(21,413	)	$	-		$	423,676
Shares issued for IPO		2,000,000		200		999,815		-			-			1,000,015
Accumulated other comprehensive income/(loss)		-		-		-		-			1			1
Net loss		-		-		-		(398,141	)		-			(398,141	)
Balance as of May 31, 2018 (unaudited)		104,275,395	$	10,428	$	1,434,676	$	(419,554	)	$	1	$		1,025,551

See accompanying notes to the unaudited condensed consolidated financial statements.

5

LEADER CAPITAL HOLDINGS CORP

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Nine months ended May 31,
	2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(876,042	)	$	(398,141	)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for mobile application development cost		454,338			-
Impairment loss on investment		102,564			-
Depreciation and Amortization		6,352			9,206
Changes in operating assets and liabilities:
Prepayments, deposits & other receivables		29,644			(29,316	)
Amount due to director		-			-
Accounts payable and accrued liabilities		(26,369	)		70,075
Amount due to a related company		-			(20,000	)
Net cash used in operating activities		(309,511	)		(368,175	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment		-			(24,858	)
Investment in subsidiaries		(102,564	)		-
Net cash used in investing activities		(102,564	)		(24,858	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan to related parties		878			-
Advances to director		(3,554	)		-
Notes receivable		(273,283	)
Proceeds from share issuance		-			1,000,015
Subscription receivable		-			(279,920	)
Net cash provided by / (used in) financing activities		(275,959	)		720,095
Effect of exchange rate changes on cash and cash equivalents					-
Net increase / (decrease) in cash and cash equivalents		(688,034	)		327,062
Cash and cash equivalents, beginning of period		839,323			394,096
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	151,289		$	721,158
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes	$	-		$	-
Cash paid for interest paid	$	-		$	-

See accompanying notes to the condensed unaudited consolidated financial statements.

6

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

NOTES TO unaudited FINANCIAL STATEMENTS

(Currency expressed in United States Dollars (“US$”), except for number of shares)

1. ORGANIZATION AND BUSINESS BACKGROUND

Leader Capital Holdings Corp. was incorporated on March 22, 2017 under the laws of the state of Nevada.

The Company, through its subsidiaries, mainly engages in the provision of investment platform services with the use of a mobile application.

Company name	Place/date of incorporation	Principal activities
1. Leader Financial Group Limited	Seychelles / March 6, 2017	Investment Holding
2. JFB Internet Service Limited	Hong Kong / July 6, 2017	Provide an Investment platform

We are a development-stage company with a fiscal year end of August 31. At this moment, we operate exclusively through our wholly owned subsidiaries Leader Financial Group Limited and JFB Internet Service Limited and share the same business plan of our subsidiaries which is to provide services through a mobile application investment platform.

Leader Capital Holdings Corp. and its subsidiaries are hereinafter referred to as the “Company”.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The consolidated financial statements for Leader Capital Holdings Corp. and its subsidiaries are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Leader Capital Holdings Corp. and its wholly owned subsidiaries, Leader Financial Group Limited and JFB Internet Service Limited. Intercompany accounts and transactions have been eliminated in consolidation. The Company has adopted August 31 as its fiscal year end.

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited financial statements. Such unaudited financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying unaudited financial statements.

Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. The results for the nine months period ended May 31, 2019 are not necessarily indicative of the results to be expected for the year ending August 31, 2019.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the nine months ended May 31, 2019, the Company incurred a net loss of $876,042 and used cash in operating activities of $309,511.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder. In the event that we require additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing.

No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Our cash and cash equivalent balance is $151,289 and $839,323 as of May 31, 2019 and August 31,2018, respectively.

7

Software Development Costs

The Company expense software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and as a result, The Company has issued 390,375 restricted common shares at $0.50 per share and incurred total costs of $195,188 for the first development stage in the nine months ended May 31,2019. The Company expensed all $195,188 development costs in G&A expenses.

We capitalize development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. The Company has issued 518,303 restricted common shares at $0.50 per share and incurred total costs of $259,152 for the second development stage in the nine months period ended May 31, 2019. The second development stage is for basic set of the mobile application. The Company has expensed all $259,152 development costs for the second development stage in G&A expenses. As of the reporting date, the second development stage is still under process and thus the Company did not capitalize the cost of development.

Revenue recognition

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

- Step 1: Identify the contract

- Step 2: Identify the performance obligations

- Step 3: Determine the transaction price

- Step 4: Allocate the transaction price

- Step 5: Recognize revenue

The Company had net revenue of $0 for the nine months period ended May 31,2019 and 2018, respectively.

Other Income- Related Party

Revenue from rental of leasehold land and buildings are recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased assets. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months to a related party which is Greenpro LF Limited, a Seychelles company, owned by Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang.

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

	Expected useful life
Furniture and fixture	3
Leasehold improvement	3

Intangible asset

All of our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit which is 5 years.

The Company follows ASC Topic 350 in accounting for intangible assets, which requires impairment losses to be recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by the assets are less than the assets’ carrying amounts. There was no impairment losses recorded on intangible assets for the period ended May 31, 2019.

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

8

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in Hong Kong. The Company is subject to tax in Hong Kong jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the Hong Kong tax authority.

Loss per common share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of May 31, 2019, there are no outstanding dilutive securities. For nine months ended March 31, 2019, the Company had net loss per common share, basic and diluted of $0.01 and $0.004, respectively.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company and its subsidiaries is United States Dollars (“US$”). It is also the functional currency as being the primary currency of the economic environment in which the entity operates.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

9

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued liabilities and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements 

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date.

ASU 2016-02, Leases (Topic 842). The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

10

3. OTHER INVESTMENT

At November 30, 2018, the Company had an investment in Leader Financial Asset Management Limited of $102,564, which is 6.25% of the equity interest of Leader Financial Asset Management Limited and is accounted for under the cost method of accounting. Leader Financial Asset Management Limited is a company incorporated in Hong Kong and is 59.38% and 31.25% owned by the Company’s director Lin Yi-Hsiu and Cheng Shui Fung respectively. The Company performed an impairment test on the investment and expect that will not to generate revenues in the near future. The impairment losses of other investment were $102,564 for the nine month period ended May 31, 2019.

4. PLANT AND EQUIPMENT, NET

Plant and equipment as of May 31, 2019 and August 31, 2018 are summarized below:

	As of May 31, 2019			As of August 31, 2018
Furniture & fixtures	$	3,911		$	3,911
Office equipment		5,319			5,319
Leasehold improvement		16,178			16,178
Total	$	25,408		$	25,408
Less: Accumulated depreciation		(13,175	)		(6,822	)
Plant and Equipment, net	$	12,233		$	18,586

Depreciation expense, classified as operating expenses, was $6,352 and $4,707 for the nine months ended May 31, 2019 and 2018, respectively.

5. RELATED PARTY TRANSACTIONS

	For Nine months period ended May 31, 2019		For nine months period ended May 31, 2018
Professional fee:
- Related Party A	$	8,800	$	187,824
Other Income:
- Related Party B	$	25,560	$	7,569

Related party A is Greenpro Financial Consulting Limited. Directors of related party A are the investment managers of Greenpro Asia Strategic SPC-Greenpro Asia Strategic SP, Mr. Lee Chong Kuang and Mr. Loke Che Chan. This fee will be due to related party A as the Company obtains control of the services. Related party A provides professional services to the company.

The Company incurred professional fees $8,800 and $187,824 for the nine months ended May 31, 2019 and 2018,respectively.

Related Party B is Greenpro LF Limited. Directors of related party B are Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months.

The Company received $25,560  and $7,569 rental income from related party B for the nine months period ended May 31, 2019 and 2018, respectively.

11

6. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

	As of May 31, 2019		As of August 31, 2018
Short-term Deposit	$	59,495	$	39,756
Long-term Deposit		-		9,960
Prepaid expense and other receivables		10,325		49,748
	$	69,820	$	99,464

As of May 31, 2019, the balance $69,820 represented an outstanding deposit and other receivable which included rental deposit, management fee deposit and interest receivables. The prepaid expense is the prepaid transfer agent fee.

7. SHORT TERM NOTES RECEIVABLES

On February 13, 2019 the Company entered into a loan agreement with Kurrency Technology Holding Limited. (“Kurrency”) and loaned Kurrency $50,000. The loan is unsecured, bears interest at 8% per annum, and is due in August 2019. The Company made the loan to Kurrency as part of the Company’s plans to expand its business in software technology.

The Company entered into multiple short-term loan agreements with two unrelated parties and loaned them for a total amount of $223,283.  The loans are unsecured, bears interest at 8% per annum, and are due in March 2020 to May 2020. The Company made the loans to these two unrelated parties as part of the Company’s plans to expand its business in software technology.

8. ACCRUED EXPENSES AND OTHER PAYABLES

	As of May 31, 2019		As of August 31, 2018
Accrued expenses and other payables	$	50,646	$	50,015
Unearned income		-		27,000
	$	50,646	$	77,015

As of May 31, 2019, the balance $50,646 represented accrued expenses including office expenses and salary expenses.

9. AMOUNT DUE FROM DIRECTOR

As of May 31, 2019, and August 31,2018, the balance $4,755 and $1,201 represented outstanding loans from the Company’s director, Lin Yi-Hsiu. The loans are unsecured, interest-free with no fixed payment term, for loan purpose. The imputed interest of these loans is immaterial for the nine months ended May 31,2019.

10. COMMON STOCK

On March 22, 2017, the company issued 100,000 shares of restricted common stock, each with a par value of $0.0001 per share, to Mr. Lin Yi-Hsiu for initial working capital of $10.

On June 16, 2017, the company issued 83,000,000, 5,000,000, 7,000,000 and 5,000,000 shares of restricted common stock to First Leader Capital Ltd., CPN Investment Ltd., Cheng Shui Fung and Greenpro Asia Strategic SPC respectively, each with par value of $0.0001 per share, for additional working capital of $10,000.

In July 2017 the Company sold shares to 22 shareholders, all of which reside in China, Hong Kong and Taiwan. A total of 1,474,995 shares of restricted common stock were sold at a price of $0.20 per share. The total proceeds to the Company amounted to a total of $294,999. The proceeds will be used as working capital.

12

In August 2017 the Company sold shares to 8 shareholders, all of which reside in China, Hong Kong and Taiwan. A total of 700,400 shares of restricted common stock were sold at a price of $0.20 per share. The proceeds will be used as working capital.

In May 2018, the Company has issued 2,000,000 shares of common stock in the initial public offering at a price of $0.50 per share and received $1,000,000.

On September 1, 2018, the Company appointed LOC Weibo Co., Ltd (“LOC”), a Taiwan company to develop a mobile application which costs TWD20,000,000 (USD651,466) in total. As consideration thereof, the Company issued 908,678 restricted common shares in aggregate at $0.50 per share during the nine month period ended May 31, 2019. LOC Weibo Co., Ltd is not related to the Company as of May 31, 2019.

As of May 31, 2019 and August 31, 2018, there are 105,184,073 and 104,275,395 shares of common stock issued and outstanding, respectively. There are no preferred stock issued and outstanding as of May 31, 2019 and August 31, 2018.

11. COMMITMENTS AND CONTINGENCIES

During the nine months period ended May 31, 2019, the Company entered into an agreement with an independent third party to lease office premises in Taiwan on a monthly basis, for the operations of the Company. The rental expense for the nine months period ended May 31, 2019 was $98,356. The Company plans to use these three offices for business development in different locations.

As of May 31, 2019, the Company has the aggregate minimal rent payments due in the next two years as follow.

Year ending May 31,
2020	$	75,972
2021	$	22,037

12. SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to May 31, 2019 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

13

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information contained in this Form 10-Q is intended to update the information contained in our Annual Report on Form 10-K for the year ended August 31, 2018 and presumes that readers have access to, and will have read, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and other information contained in such Form 10-K. The following discussion and analysis also should be read together with our financial statements and the notes to the financial statements included elsewhere in this Form 10-Q.

The following discussion contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements appear in a number of places in this Report, including, without limitation, “Management’s Discussion and Analysis of Financial Condition and Results of Operations. “These statements are not guarantees of future performance and involve risks, uncertainties and requirements that are difficult to predict or are beyond our control. Forward-looking statements speak only as of the date of this quarterly report. You should not put undue reliance on any forward-looking statements. We strongly encourage investors to carefully read the factors described in our Form S-1 Amendment No. 4, dated February 5, 2018, in the section entitled “Risk Factors” for a description of certain risks that could, among other things, cause actual results to differ from these forward-looking statements. We assume no responsibility to update the forward-looking statements contained in this transition report on Form10-Q. The following should also be read in conjunction with the unaudited Condensed Consolidated Financial Statements and notes thereto that appear elsewhere in this report.

Company Overview

Leader Capital Holdings Corp. is a company that operates through its wholly owned subsidiary, Leader Financial Group Limited, a Seychelles Company. It should be noted that our wholly owned subsidiary, Leader Financial Group Limited owns 100% of JFB Internet Service Limited, a Hong Kong Company.

At this time, we operate exclusively through our wholly owned subsidiary and share the same business plan of our subsidiary which is to function as the service provider of an investment platform. JFB Internet Service Limited owns the JFB mobile application. JFB is a platform that connects investor with other financial service providers in an effort to sharpen operational efficiency and respond to customer demands for more innovative services. It is a ready-made application to meet generic needs of financial service providers, especially for trust companies and insurance companies. Some degree of customization can be added to brand the application to better suit the client’s requirements. The JFB application has completed development, but we may evaluate the possibility of improving the application as time goes on. Additionally, it should be noted that the Company has not yet generated any revenue, and we currently operate at a net loss.

RESULTS OF OPERATIONS

Our cash and cash equivalent balance is $151,289 as of May 31, 2019. Our cash balance is sufficient to fund our operations for a period of time

Result of Operation For the three months ended May 31, 2019 and 2018

General and Administrative Expenses

General and Administrative Expenses were $336,351 and $93,275 for the three months ended May 31, 2019 and 2018 respectively. These expenses are mainly comprised of salary and wages expenses of $3,761 ,rent of $25,527 and mobile application development costs of $259,152 for the three months ended May 31, 2019.

Net Loss

We recorded a net loss of $330,950 and $85,467 for the three months ended May 31, 2019 and 2018 respectively. The net loss mainly derived from the general and administrative expenses incurred.

14

Result of Operations For the nine months ended May 31, 2019 and 2018

Revenue

We have not generated any revenue for the nine months ended May 31, 2019 and 2018.

General and administrative expenses

General and administrative expenses were $904,981 and $405,949 for the nine months ended May 31, 2019 and 2018 respectively. These expenses are mainly comprised of the Company’s consulting fees, website maintenance fees, salary and wage expenses, rent incurred and mobile application development costs.

Net loss

Our net loss was $876,042 and $398,141 for the nine months ended May 31, 2019 and 2018 respectively. The net loss mainly derived from the general and administrative expenses incurred.

Liquidity and Capital Resources

Cash Used in Operating Activities

Net cash used in operating activities was $309,511 and $368,175 for the nine months ended May 31, 2019 and 2018 respectively. The cash used in operating activities was mainly for payment of general and administrative expenses.

Cash Used in Investing Activities

Net cash used in investing activities was $102,564 and $24,858 for the nine months ended May 31, 2019 and 2018 respectively. The cash used in investing activities for the nine months ended May 31, 2019 was resulted from the acquisition of 6.25% shareholding of a financial asset management company in Hong Kong company which is 59.38% and 31.25% owned by the Company’s director Lin Yi-Hsiu and Cheng Shui Fung respectively and paid HK$800,000 (USD102,564) in cash.

Cash Used in Financing Activities

Net cash used in financing activities were $275,959 for the nine months ended May 31, 2019, whereas net cash provided by financing activities were $720,095 for the nine months ended May 31, 2018. The cash used in financing activities for the nine months ended May 31, 2019 was mainly contributed from the increase of note receivables to several unrelated companies. The cash generated from financing activities were mainly from the proceeds from share issuance.

In regards to all of the above transactions we claim an exemption from registration afforded by Section 4(a)(2) and/or Regulation S of the Securities Act of 1933, as amended (“Regulation S”) for the above sales of the stock since the sales of the stock were made to non-U.S. persons (as defined under Rule 902 section (k)(2)(i) of Regulation S), pursuant to offshore transactions, and no directed selling efforts were made in the United States by the issuer, a distributor, any of their respective affiliates, or any person acting on behalf of any of the foregoing.

15

Off-balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders as of May 31, 2019.

Contractual Obligations

As of May 31, 2019, the Company has no contractual obligations involved.

ITEM 3 QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item.

ITEM 4 CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures:

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of May 31, 2019. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of May 31, 2019, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of May 31, 2019, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

Changes in Internal Control Over Financial Reporting:

There were no changes in our internal control over financial reporting during the quarter ending May 31, 2019, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

16

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

We know of no materials, active or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceedings or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any beneficial shareholder are an adverse party or has a material interest adverse to us.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None.

ITEM 6. Exhibits

31.1	Rule 13(a)-14(a) / 15(d)-14(a) Certification of principal executive office and principal financial officer
32.1	Section 1350 Certification of principal executive officer and principal financial officer

17

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	LEADER CAPITAL HOLDINGS CORP
	(Name of Registrant)
Date: July 22, 2019	By:	/s/ Lin Yi-Hsiu
	Title:	Chief Executive Officer, President, Director (Principal Executive Officer)

18

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, LIN YI-HSIU, certify that:

1. I have reviewed this quarterly report on Form 10-Q of LEADER CAPITAL HOLDINGS CORP (the “Company”) for the quarter ended May 31, 2019;

2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.	Designed such internal control over financial reporting, or caused such internal control to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 22, 2019	By:	/s/ Lin Yi-Hsiu
		Lin Yi-Hsiu
		Chief Executive Officer, President, Treasurer Director
		(Principal Executive Officer , Principal Financial Officer, Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of LEADER CAPITAL HOLDINGS CORP (the “Company”) on Form 10-Q for the period ended May 31, 2019 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), The undersigned hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(1)	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Date: July 22, 2019	By:	/s/ Lin Yi-Hsiu
		Lin Yi-Hsiu
		Chief Executive Officer, President, Treasurer Director
		(Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	9 Months Ended
	May 31, 2019	Jul. 22, 2019
Document And Entity Information
Entity Registrant Name	Leader Capital Holdings Corp.
Entity Central Index Key	0001715433
Document Type	10-Q
Document Period End Date	May 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,184,073
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

XML

Condensed Consolidated Balance Sheets - USD ($)	May 31, 2019	Aug. 31, 2018
Current assets:
Cash and cash equivalents	$ 151,289	$ 839,323
Prepayments, deposits and other receivables	69,820	89,504
Notes receivable	273,283
Due from director	4,755	1,201
Due from related parties		878
Total current assets	499,147	930,906
Non-current assets
Plant and equipment, net	5,044	7,351
Leasehold improvement	7,189	11,235
Deposit		9,960
Total non-current assets	12,233	28,546
TOTAL ASSETS	511,380	959,452
Current liabilities
Other payables and accrued liabilities	50,646	77,015
Total current liabilities	50,646	77,015
TOTAL LIABILITIES	50,646	77,015
STOCKHOLDERS' EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common stock, $ 0.0001 par value; 600,000,000 shares authorized; 105,184,073 and 104,275,395 shares issued and outstanding as of May 31, 2019 and August 31, 2018, respectively	10,519	10,428
Additional paid-in capital	1,888,909	1,434,661
Accumulated other comprehensive income
Accumulated deficit	(1,438,694)	(562,652)
TOTAL STOCKHOLDERS' EQUITY	460,734	882,437
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 511,380	$ 959,452

XML

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	May 31, 2019	Aug. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	105,184,073	104,275,395
Common stock, shares outstanding	105,184,073	104,275,395

XML

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018
Income Statement [Abstract]
REVENUE
COST OF REVENUE
GROSS PROFIT
OPERATING EXPENSES
General and administrative	(336,351)	(93,275)	(904,981)	(405,949)
LOSS FROM OPERATIONS	(336,351)	(93,275)	(904,981)	(405,949)
Interest expense
LOSS BEFORE INCOME TAX	(336,351)	(93,275)	(904,981)	(405,949)
Other income/(expense):
Other income-related parties	2,185	7,808	25,560	7,808
Interest income-non-related parties	3,216		3,381
Income tax expense
NET LOSS	(330,950)	(85,467)	(876,042)	(398,141)
Other comprehensive loss
Foreign currency translation loss
COMPREHENSIVE LOSS	$ (330,950)	$ (85,467)	$ (876,042)	$ (398,141)
Net loss per share - Basic and diluted	$ (0.003)	$ (0.001)	$ (0.01)	$ (0.004)
Weighted average number of common shares outstanding - Basic and diluted	104,778,733	103,175,203	104,778,733	102,578,628

XML

Condensed Consolidated Statements of Changes In Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Losses) [Member]	Total
Balance beginning at Aug. 31, 2017	$ 10,228	$ 434,861	$ (21,413)		$ 423,676
Balance beginning, shares at Aug. 31, 2017	102,275,395
Shares Issued for IPO	$ 200	999,815			1,000,015
Shares Issued for IPO, shares	2,000,000
Net loss			(398,141)		(398,141)
Balance ending at May. 31, 2018	$ 10,428	1,434,676	(419,554)	1	1,025,551
Balance ending, shares at May. 31, 2018	104,275,395
Balance beginning at Feb. 28, 2018	$ 10,228	434,861	(333,850)	1	111,240
Balance beginning, shares at Feb. 28, 2018	102,275,395
Shares Issued for IPO	$ 200	999,815			1,000,015
Shares Issued for IPO, shares	2,000,000
Net loss			(85,705)		(85,467)
Accumulated other comprehensive income/(loss)				1	1
Balance ending at May. 31, 2018	$ 10,428	1,434,676	(419,554)	1	1,025,551
Balance ending, shares at May. 31, 2018	104,275,395
Balance beginning at Aug. 31, 2018	$ 10,428	1,434,661	(562,652)		882,437
Balance beginning, shares at Aug. 31, 2018	104,275,395
Shares Issued for development costs	$ 91	454,248			454,339
Shares Issued for development costs, shares	908,678
Net loss			(876,042)		(876,042)
Balance ending at May. 31, 2019	$ 10,519	1,888,909	(1,438,694)		460,734
Balance ending, shares at May. 31, 2019	105,184,073
Balance beginning at Feb. 28, 2019	$ 10,467	1,629,809	(1,107,744)	1	532,531
Balance beginning, shares at Feb. 28, 2019	104,665,770
Shares Issued for development costs	$ 91	454,248			454,339
Shares Issued for development costs, shares	908,678
Shares Cancelled	$ (39)	(195,148)			(195,188)
Shares Cancelled, shares	(390,375)
Net loss			(330,950)		(330,950)
Accumulated other comprehensive income/(loss)			(1)		(1)
Balance ending at May. 31, 2019	$ 10,519	$ 1,888,909	$ (1,438,694)		$ 460,734
Balance ending, shares at May. 31, 2019	105,184,073

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (876,042)	$ (398,141)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for mobile application development cost	454,338
Impairment loss on investment	102,564
Depreciation and Amortization	6,352	9,206
Changes in operating assets and liabilities:
Prepayments, deposits & other receivables	29,644	(29,316)
Amount due to director
Accounts payable and accrued liabilities	(26,369)	70,075
Amount due to a related company		(20,000)
Net cash used in operating activities	(309,511)	(368,175)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment		(24,858)
Investment in subsidiaries	(102,564)
Net cash used in investing activities	(102,564)	(24,858)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loan to related parties	878
Advances to director	(3,554)
Notes receivable	(273,283)
Proceeds from share issuance		1,000,015
Subscription receivable		(279,920)
Net cash provided by / (used in) financing activities	(275,959)	720,095
Effect of exchange rate changes on cash and cash equivalents
Net increase / (decrease) in cash and cash equivalents	(688,034)	327,062
Cash and cash equivalents, beginning of period	839,323	394,096
CASH AND CASH EQUIVALENTS, END OF PERIOD	151,289	721,158
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes
Cash paid for interest paid

XML

Organization and Business Background

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Organization and Business Background

1. ORGANIZATION AND BUSINESS BACKGROUND

Leader Capital Holdings Corp. was incorporated on March 22, 2017 under the laws of the state of Nevada.

The Company, through its subsidiaries, mainly engages in the provision of investment platform services with the use of a mobile application.

Company name	Place/date of incorporation	Principal activities
1. Leader Financial Group Limited	Seychelles / March 6, 2017	Investment Holding
2. JFB Internet Service Limited	Hong Kong / July 6, 2017	Provide an Investment platform

We are a development-stage company with a fiscal year end of August 31. At this moment, we operate exclusively through our wholly owned subsidiaries Leader Financial Group Limited and JFB Internet Service Limited and share the same business plan of our subsidiaries which is to provide services through a mobile application investment platform.

Leader Capital Holdings Corp. and its subsidiaries are hereinafter referred to as the “Company”.

XML

Summary of Significant Accounting Policies

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The consolidated financial statements for Leader Capital Holdings Corp. and its subsidiaries are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Leader Capital Holdings Corp. and its wholly owned subsidiaries, Leader Financial Group Limited and JFB Internet Service Limited. Intercompany accounts and transactions have been eliminated in consolidation. The Company has adopted August 31 as its fiscal year end.

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited financial statements. Such unaudited financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying unaudited financial statements.

Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. The results for the nine months period ended May 31, 2019 are not necessarily indicative of the results to be expected for the year ending August 31, 2019.

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the nine months ended May 31, 2019, the Company incurred a net loss of $876,042 and used cash in operating activities of $309,511.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder. In the event that we require additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing.

No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Our cash and cash equivalent balance is $151,289 and $839,323 as of May 31, 2019 and August 31,2018, respectively.

Software Development Costs

The Company expense software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and as a result, The Company has issued 390,375 restricted common shares at $0.50 per share and incurred total costs of $195,188 for the first development stage in the nine months ended May 31,2019. The Company expensed all $195,188 development costs in G&A expenses.

We capitalize development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. The Company has issued 518,303 restricted common shares at $0.50 per share and incurred total costs of $259,152 for the second development stage in the nine months period ended May 31, 2019. The second development stage is for basic set of the mobile application. The Company has expensed all $259,152 development costs for the second development stage in G&A expenses. As of the reporting date, the second development stage is still under process and thus the Company did not capitalize the cost of development.

Revenue recognition

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

- Step 1: Identify the contract

- Step 2: Identify the performance obligations

- Step 3: Determine the transaction price

- Step 4: Allocate the transaction price

- Step 5: Recognize revenue

The Company had net revenue of $0 for the nine months period ended May 31,2019 and 2018, respectively.

Other Income- Related Party

Revenue from rental of leasehold land and buildings are recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased assets. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months to a related party which is Greenpro LF Limited, a Seychelles company, owned by Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang.

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

	Expected useful life
Furniture and fixture	3
Leasehold improvement	3

Intangible asset

All of our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit which is 5 years.

The Company follows ASC Topic 350 in accounting for intangible assets, which requires impairment losses to be recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by the assets are less than the assets’ carrying amounts. There was no impairment losses recorded on intangible assets for the period ended May 31, 2019.

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in Hong Kong. The Company is subject to tax in Hong Kong jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the Hong Kong tax authority.

Loss per common share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of May 31, 2019, there are no outstanding dilutive securities. For nine months ended March 31, 2019, the Company had net loss per common share, basic and diluted of $0.01 and $0.004, respectively.

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company and its subsidiaries is United States Dollars (“US$”). It is also the functional currency as being the primary currency of the economic environment in which the entity operates.

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued liabilities and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent accounting pronouncements 

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date.

ASU 2016-02, Leases (Topic 842). The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

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Other Investment

9 Months Ended

May 31, 2019

Investments, All Other Investments [Abstract]

Other Investment

3. OTHER INVESTMENT

At November 30, 2018, the Company had an investment in Leader Financial Asset Management Limited of $102,564, which is 6.25% of the equity interest of Leader Financial Asset Management Limited and is accounted for under the cost method of accounting. Leader Financial Asset Management Limited is a company incorporated in Hong Kong and is 59.38% and 31.25% owned by the Company’s director Lin Yi-Hsiu and Cheng Shui Fung respectively. The Company performed an impairment test on the investment and expect that will not to generate revenues in the near future. The impairment losses of other investment were $102,564 for the nine month period ended May 31, 2019.

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Plant and Equipment, Net

9 Months Ended

May 31, 2019

Property, Plant and Equipment [Abstract]

Plant and Equipment, Net

4. PLANT AND EQUIPMENT, NET

Plant and equipment as of May 31, 2019 and August 31, 2018 are summarized below:

	As of May 31, 2019			As of August 31, 2018
Furniture & fixtures	$	3,911		$	3,911
Office equipment		5,319			5,319
Leasehold improvement		16,178			16,178
Total	$	25,408		$	25,408
Less: Accumulated depreciation		(13,175	)		(6,822	)
Plant and Equipment, net	$	12,233		$	18,586

Depreciation expense, classified as operating expenses, was $6,352 and $4,707 for the nine months ended May 31, 2019 and 2018, respectively.

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Related Party Transactions

9 Months Ended

May 31, 2019

Related Party Transactions [Abstract]

Related Party Transactions

5. RELATED PARTY TRANSACTIONS

	For Nine months period ended May 31, 2019		For nine months period ended May 31, 2018
Professional fee:
- Related Party A	$	8,800	$	187,824
Other Income:
- Related Party B	$	25,560	$	7,569

Related party A is Greenpro Financial Consulting Limited. Directors of related party A are the investment managers of Greenpro Asia Strategic SPC-Greenpro Asia Strategic SP, Mr. Lee Chong Kuang and Mr. Loke Che Chan. This fee will be due to related party A as the Company obtains control of the services. Related party A provides professional services to the company.

The Company incurred professional fees $8,800 and $187,824 for the nine months ended May 31, 2019 and 2018,respectively.

Related Party B is Greenpro LF Limited. Directors of related party B are Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months.

The Company received $25,560  and $7,569 rental income from related party B for the nine months period ended May 31, 2019 and 2018, respectively.

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Prepayments, Deposits and Other Receivables

9 Months Ended

May 31, 2019

Receivables [Abstract]

Prepayments, Deposits and Other Receivables

6. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

	As of May 31, 2019		As of August 31, 2018
Short-term Deposit	$	59,495	$	39,756
Long-term Deposit		-		9,960
Prepaid expense and other receivables		10,325		49,748
	$	69,820	$	99,464

As of May 31, 2019, the balance $69,820 represented an outstanding deposit and other receivable which included rental deposit, management fee deposit and interest receivables. The prepaid expense is the prepaid transfer agent fee.

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Short Term Notes Receivables

9 Months Ended

May 31, 2019

Receivables [Abstract]

Short Term Notes Receivables

7. SHORT TERM NOTES RECEIVABLES

On February 13, 2019 the Company entered into a loan agreement with Kurrency Technology Holding Limited. (“Kurrency”) and loaned Kurrency $50,000. The loan is unsecured, bears interest at 8% per annum, and is due in August 2019. The Company made the loan to Kurrency as part of the Company’s plans to expand its business in software technology.

The Company entered into multiple short-term loan agreements with two unrelated parties and loaned them for a total amount of $223,283.  The loans are unsecured, bears interest at 8% per annum, and are due in March 2020 to May 2020. The Company made the loans to these two unrelated parties as part of the Company’s plans to expand its business in software technology.

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Accrued Expenses and Other Payables

9 Months Ended

May 31, 2019

Payables and Accruals [Abstract]

Accrued Expenses and Other Payables

8. ACCRUED EXPENSES AND OTHER PAYABLES

	As of May 31, 2019		As of August 31, 2018
Accrued expenses and other payables	$	50,646	$	50,015
Unearned income		-		27,000
	$	50,646	$	77,015

As of May 31, 2019, the balance $50,646 represented accrued expenses including office expenses and salary expenses.

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Amount Due from Director

9 Months Ended

May 31, 2019

Receivables [Abstract]

Amount Due from Director

9. AMOUNT DUE FROM DIRECTOR

As of May 31, 2019, and August 31,2018, the balance $4,755 and $1,201 represented outstanding loans from the Company’s director, Lin Yi-Hsiu. The loans are unsecured, interest-free with no fixed payment term, for loan purpose. The imputed interest of these loans is immaterial for the nine months ended May 31,2019.

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Common Stock

9 Months Ended

May 31, 2019

Equity [Abstract]

Common Stock

10. COMMON STOCK

On March 22, 2017, the company issued 100,000 shares of restricted common stock, each with a par value of $0.0001 per share, to Mr. Lin Yi-Hsiu for initial working capital of $10.

On June 16, 2017, the company issued 83,000,000, 5,000,000, 7,000,000 and 5,000,000 shares of restricted common stock to First Leader Capital Ltd., CPN Investment Ltd., Cheng Shui Fung and Greenpro Asia Strategic SPC respectively, each with par value of $0.0001 per share, for additional working capital of $10,000.

In July 2017 the Company sold shares to 22 shareholders, all of which reside in China, Hong Kong and Taiwan. A total of 1,474,995 shares of restricted common stock were sold at a price of $0.20 per share. The total proceeds to the Company amounted to a total of $294,999. The proceeds will be used as working capital.

In August 2017 the Company sold shares to 8 shareholders, all of which reside in China, Hong Kong and Taiwan. A total of 700,400 shares of restricted common stock were sold at a price of $0.20 per share. The proceeds will be used as working capital.

In May 2018, the Company has issued 2,000,000 shares of common stock in the initial public offering at a price of $0.50 per share and received $1,000,000.

On September 1, 2018, the Company appointed LOC Weibo Co., Ltd (“LOC”), a Taiwan company to develop a mobile application which costs TWD20,000,000 (USD651,466) in total. As consideration thereof, the Company issued 908,678 restricted common shares in aggregate at $0.50 per share during the nine month period ended May 31, 2019. LOC Weibo Co., Ltd is not related to the Company as of May 31, 2019.

As of May 31, 2019 and August 31, 2018, there are 105,184,073 and 104,275,395 shares of common stock issued and outstanding, respectively. There are no preferred stock issued and outstanding as of May 31, 2019 and August 31, 2018.

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Commitments and Contingencies

9 Months Ended

May 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. COMMITMENTS AND CONTINGENCIES

During the nine months period ended May 31, 2019, the Company entered into an agreement with an independent third party to lease office premises in Taiwan on a monthly basis, for the operations of the Company. The rental expense for the nine months period ended May 31, 2019 was $98,356. The Company plans to use these three offices for business development in different locations.

As of May 31, 2019, the Company has the aggregate minimal rent payments due in the next two years as follow.

Year ending May 31,
2020	$	75,972
2021	$	22,037

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Subsequent Events

9 Months Ended

May 31, 2019

Subsequent Events [Abstract]

Subsequent Events

12. SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to May 31, 2019 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

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Summary of Significant Accounting Policies (Policies)

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

The consolidated financial statements for Leader Capital Holdings Corp. and its subsidiaries are prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of Leader Capital Holdings Corp. and its wholly owned subsidiaries, Leader Financial Group Limited and JFB Internet Service Limited. Intercompany accounts and transactions have been eliminated in consolidation. The Company has adopted August 31 as its fiscal year end.

The summary of significant accounting policies presented below is designed to assist in understanding the Company’s unaudited financial statements. Such unaudited financial statements and accompanying notes are the representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects and have been consistently applied in preparing the accompanying unaudited financial statements.

Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) were omitted pursuant to such rules and regulations. The results for the nine months period ended May 31, 2019 are not necessarily indicative of the results to be expected for the year ending August 31, 2019.

Going Concern

Going Concern

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, for the nine months ended May 31, 2019, the Company incurred a net loss of $876,042 and used cash in operating activities of $309,511.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company expects to finance its operations primarily through cash flow from revenue and continuing financial support from a shareholder. In the event that we require additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, the shareholder has indicated the intent and ability to provide additional financing.

No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

Use of Estimates

Use of estimates

Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheets, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates.

Cash and Cash Equivalents

Cash and cash equivalents

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Our cash and cash equivalent balance is $151,289 and $839,323 as of May 31, 2019 and August 31,2018, respectively.

Software Development Costs

Software Development Costs

The Company expense software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and as a result, The Company has issued 390,375 restricted common shares at $0.50 per share and incurred total costs of $195,188 for the first development stage in the nine months ended May 31,2019. The Company expensed all $195,188 development costs in G&A expenses.

We capitalize development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. The Company has issued 518,303 restricted common shares at $0.50 per share and incurred total costs of $259,152 for the second development stage in the nine months period ended May 31, 2019. The second development stage is for basic set of the mobile application. The Company has expensed all $259,152 development costs for the second development stage in G&A expenses. As of the reporting date, the second development stage is still under process and thus the Company did not capitalize the cost of development.

Revenue Recognition

Revenue recognition

The Company adopted Accounting Standards Codification (“ASC”) 606. ASC 606, Revenue from Contracts with Customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

The Company has assessed the impact of the guidance by performing the following five steps analysis:

- Step 1: Identify the contract

- Step 2: Identify the performance obligations

- Step 3: Determine the transaction price

- Step 4: Allocate the transaction price

- Step 5: Recognize revenue

The Company had net revenue of $0 for the nine months period ended May 31,2019 and 2018, respectively.

Other Income- Related Party

Revenue from rental of leasehold land and buildings are recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased assets. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months to a related party which is Greenpro LF Limited, a Seychelles company, owned by Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang.

Other Income- Related Party

Other Income- Related Party

Revenue from rental of leasehold land and buildings are recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of the leased assets. The Company leases its commercial office in Taipei under non-cancelable operating leases with terms of 31 months to a related party which is Greenpro LF Limited, a Seychelles company, owned by Mr. Lin Yi-Hsiu, the director of the Company and Mr. Lee Chong Kuang. 

Plant and Equipment

Plant and equipment

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

	Expected useful life
Furniture and fixture	3
Leasehold improvement	3

Intangible Asset

Intangible asset

All of our intangible assets are subject to amortization and are amortized using the straight-line method over their estimated period of benefit which is 5 years.

The Company follows ASC Topic 350 in accounting for intangible assets, which requires impairment losses to be recorded when indicators of impairment are present and the undiscounted cash flows estimated to be generated by the assets are less than the assets’ carrying amounts. There was no impairment losses recorded on intangible assets for the period ended May 31, 2019.

Income Taxes

Income taxes

Income taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

The Company conducts major businesses in Hong Kong. The Company is subject to tax in Hong Kong jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the Hong Kong tax authority.

Loss Per Common Share

Loss per common share

The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of May 31, 2019, there are no outstanding dilutive securities. For nine months ended March 31, 2019, the Company had net loss per common share, basic and diluted of $0.01 and $0.004, respectively.

Foreign Currencies Translation

Foreign currencies translation

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.

The reporting currency of the Company and its subsidiaries is United States Dollars (“US$”). It is also the functional currency as being the primary currency of the economic environment in which the entity operates.

Related Parties

Related parties

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Fair Value of Financial Instruments

Fair value of financial instruments:

The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayment, deposits, accounts payable and accrued liabilities and amount due to a director approximate at their fair values because of the short-term nature of these financial instruments.

The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Recent Accounting Pronouncements

Recent accounting pronouncements 

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. The new guidance modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date.

ASU 2016-02, Leases (Topic 842). The standard requires a lessee to recognize a liability to make lease payments and a right-of-use asset representing a right to use the underlying asset for the lease term on the balance sheet. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that this standard will have on our consolidated financial statements.

The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations.

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Organization and Business Background (Tables)

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Schedule of Subsidiaries of Company

The Company, through its subsidiaries, mainly engages in the provision of investment platform services with the use of a mobile application.

Company name	Place/date of incorporation	Principal activities
1. Leader Financial Group Limited	Seychelles / March 6, 2017	Investment Holding
2. JFB Internet Service Limited	Hong Kong / July 6, 2017	Provide an Investment platform

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Summary of Significant Accounting Policies (Tables)

9 Months Ended

May 31, 2019

Accounting Policies [Abstract]

Schedule of Plant and Equipment Useful Lives

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:

	Expected useful life
Furniture and fixture	3
Leasehold improvement	3

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Plant and Equipment, Net (Tables)

9 Months Ended

May 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of Plant and Equipment, Net

Plant and equipment as of May 31, 2019 and August 31, 2018 are summarized below:

	As of May 31, 2019			As of August 31, 2018
Furniture & fixtures	$	3,911		$	3,911
Office equipment		5,319			5,319
Leasehold improvement		16,178			16,178
Total	$	25,408		$	25,408
Less: Accumulated depreciation		(13,175	)		(6,822	)
Plant and Equipment, net	$	12,233		$	18,586

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Related Party Transactions (Tables)

9 Months Ended

May 31, 2019

Related Party Transactions [Abstract]

Schedule of Related Party Transactions

	For Nine months period ended May 31, 2019		For nine months period ended May 31, 2018
Professional fee:
- Related Party A	$	8,800	$	187,824
Other Income:
- Related Party B	$	25,560	$	7,569

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Prepayments, Deposits and Other Receivables (Tables)

9 Months Ended

May 31, 2019

Receivables [Abstract]

Schedule of Prepayments, Deposits and Other Receivables

	As of May 31, 2019		As of August 31, 2018
Short-term Deposit	$	59,495	$	39,756
Long-term Deposit		-		9,960
Prepaid expense and other receivables		10,325		49,748
	$	69,820	$	99,464

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Accrued Expenses and Other Payables (Tables)

9 Months Ended

May 31, 2019

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Payables

	As of May 31, 2019		As of August 31, 2018
Accrued expenses and other payables	$	50,646	$	50,015
Unearned income		-		27,000
	$	50,646	$	77,015

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Commitments and Contingencies (Tables)

9 Months Ended

May 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Operating Lease Minimum Rent Payments

As of May 31, 2019, the Company has the aggregate minimal rent payments due in the next two years as follow.

Year ending May 31,
2020	$	75,972
2021	$	22,037

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Organization and Business Background - Schedule of Subsidiaries of Company (Details)	9 Months Ended
	May 31, 2019
Leader Financial Group Limited [Member]
Company name	Leader Financial Group Limited
Place/date of incorporation	Seychelles / March 6, 2017
Principal activities	Investment Holding
JFB Internet Service Limited [Member]
Company name	JFB Internet Service Limited
Place/date of incorporation	Hong Kong / July 6, 2017
Principal activities	Provide an Investment platform

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Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2019	May 31, 2018	Aug. 31, 2018
Net loss	$ (330,950)	$ (85,467)	$ (876,042)	$ (398,141)
Cash in operating activities			(309,511)	(368,175)
Cash and cash equivalent balance	151,289		151,289		$ 839,323
General and administrative	336,351	93,275	904,981	405,949
Revenue
Intangible assets useful life			5 years
Impairment losses of intangible assets
Percentage of likelihood, description			Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.
Net loss per share basic and diluted	$ (0.003)	$ (0.001)	$ (0.01)	$ (0.004)
Greenpro LF Limited [Member]
Operating lease term	31 months		31 months
First Developement Stage [Member]
Number of restricted shares issued, shares			390,375
Shares issued price per share	$ 0.50		$ 0.50
Number of restricted stock issued			$ 195,188
General and administrative			$ 195,188
Second Developement Stage [Member]
Number of restricted shares issued, shares			518,303
Shares issued price per share	$ 0.50		$ 0.50
Number of restricted stock issued			$ 259,152
General and administrative			$ 259,152

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Summary of Significant Accounting Policies - Schedule of Plant and Equipment Useful Lives (Details)	9 Months Ended
	May 31, 2019
Furniture and Fixtures [Member]
Plant and equipment expected useful lives	3 years
Leasehold Improvement [Member]
Plant and equipment expected useful lives	3 years

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Other Investment (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018
Impairment loss of other investment	$ 102,564
Mr. Lin Yi-Hsiu [Member]
Equity interest percentage	59.38%
Cheng Shui Fung [Member]
Equity interest percentage	31.25%
Leader Financial Asset Management Limited [Member]
Investment	$ 102,564
Equity interest percentage	6.25%

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Plant and Equipment, Net (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 6,352	$ 4,707

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Plant and Equipment, Net - Schedule of Plant and Equipment, Net (Details) - USD ($)	May 31, 2019	Aug. 31, 2018
Plant and Equipment, net	$ 5,044	$ 7,351
Property, Plant and Equipment [Member]
Total	25,408	25,408
Less: Accumulated depreciation	(13,175)	(6,822)
Plant and Equipment, net	12,233	18,586
Property, Plant and Equipment [Member] | Furniture and Fixtures [Member]
Total	3,911	3,911
Property, Plant and Equipment [Member] | Office Equipment [Member]
Total	5,319	5,319
Property, Plant and Equipment [Member] | Leasehold Improvement [Member]
Total	$ 16,178	$ 16,178

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Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018
Related Party A [Member]
Professional fees	$ 8,800	$ 187,824
Greenpro LF Limited [Member]
Operating lease term	31 months
Related Party B [Member]
Rental income	$ 25,560	$ 7,569

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Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($)	9 Months Ended
	May 31, 2019	May 31, 2018
Related Party A [Member]
Professional fees	$ 8,800	$ 187,824
Related Party B [Member]
Other Income	$ 25,560	$ 7,569

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Prepayments, Deposits and Other Receivables (Details Narrative) - USD ($)	May 31, 2019	Aug. 31, 2018
Receivables [Abstract]
Prepayments, deposits and other receivables	$ 69,820	$ 89,504

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Prepayments, Deposits and Other Receivables - Schedule of Prepayments, Deposits and Other Receivables (Details) - USD ($)	May 31, 2019	Aug. 31, 2018
Receivables [Abstract]
Short-term Deposit	$ 59,495	$ 39,756
Long-term Deposit		9,960
Prepaid expense and other receivables	10,325	49,748
Prepayments, deposits and other receivables	$ 69,820	$ 99,464

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Short Term Notes Receivables (Details Narrative) - USD ($)		9 Months Ended
	Feb. 13, 2019	May 31, 2019	Aug. 31, 2018
Notes receivable		$ 273,283
Loan Agreement [Member] | Kurrency Technology Holding Limited. [Member]
Notes receivable	$ 50,000
Debt interest rate	8.00%
Debt instrument maturity date	Aug. 31, 2019
Short-Term Loan Agreement [Member] | Two Unrelated Parties [Member]
Notes receivable		$ 223,283
Debt interest rate		8.00%
Debt instrument maturity date, description		March 2020 to May 2020

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Accrued Expenses and Other Payables (Details Narrative) - USD ($)	May 31, 2019	Aug. 31, 2018
Payables and Accruals [Abstract]
Accrued expenses	$ 50,646	$ 77,015

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Accrued Expenses and Other Payables - Schedule of Accrued Expenses and Other Payables (Details) - USD ($)	May 31, 2019	Aug. 31, 2018
Payables and Accruals [Abstract]
Accrued expenses and other payables	$ 50,646	$ 50,015
Unearned income		27,000
Accrued expenses and other payables	$ 50,646	$ 77,015

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Amount Due from Director (Details Narrative) - USD ($)	May 31, 2019	Aug. 31, 2018
Mr. Lin Yi-Hsiu [Member]
Outstanding loans from director	$ 4,755	$ 1,201

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Common Stock (Details Narrative)					1 Months Ended			3 Months Ended	9 Months Ended
	Sep. 02, 2018 USD ($)	Sep. 02, 2018 TWD ($)	Jun. 16, 2017 USD ($) $ / shares shares	Mar. 22, 2017 USD ($) $ / shares shares	May 31, 2018 USD ($) $ / shares shares	Aug. 31, 2017 $ / shares shares	Jul. 31, 2017 USD ($) $ / shares shares	May 31, 2018 USD ($) $ / shares	May 31, 2019 $ / shares shares	May 31, 2018 USD ($) $ / shares	Aug. 31, 2018 $ / shares shares
Common stock par value | $ / shares									$ 0.0001		$ 0.0001
Issuance common stock, value | $								$ 1,000,015		$ 1,000,015
Common stock, shares issued									105,184,073		104,275,395
Common stock, shares outstanding									105,184,073		104,275,395
Preferred stock, shares issued
Preferred stock, shares outstanding
Initial Public Offering [Member]
Issuance of common stock					2,000,000
Stock issued price per shares | $ / shares					$ 0.50			$ 0.50		$ 0.50
Issuance common stock, value | $					$ 1,000,000
LOC Weibo Co., Ltd [Member]
Mobile application development costs | $	$ 651,466
Restricted Stock [Member] | 22 Shareholders [Member]
Number of common stock sold							1,474,995
Sale of stock price per share | $ / shares							$ 0.20
Number of common stock sold, value | $							$ 294,999
Restricted Stock [Member] | 8 Shareholders [Member]
Number of common stock sold						700,400
Sale of stock price per share | $ / shares						$ 0.20
Restricted Stock [Member] | First Leader Capital Ltd [Member]
Number of common stock shares issued for working capital			83,000,000
Common stock par value | $ / shares			$ 0.0001
Value of common stock issued for working capital | $			$ 10,000
Restricted Stock [Member] | CPN Investment Ltd [Member]
Number of common stock shares issued for working capital			5,000,000
Common stock par value | $ / shares			$ 0.0001
Value of common stock issued for working capital | $			$ 10,000
Restricted Stock [Member] | Greenpro Asia Strategic SPC [Member]
Number of common stock shares issued for working capital			5,000,000
Common stock par value | $ / shares			$ 0.0001
Value of common stock issued for working capital | $			$ 10,000
Restricted Stock [Member] | LOC Weibo Co., Ltd [Member]
Issuance of common stock									908,678
Stock issued price per shares | $ / shares									$ 0.50
TWD [Member] | LOC Weibo Co., Ltd [Member]
Mobile application development costs | $		$ 20,000,000
Mr. Lin Yi-Hsiu [Member] | Restricted Stock [Member]
Number of common stock shares issued for working capital				100,000
Common stock par value | $ / shares				$ 0.0001
Value of common stock issued for working capital | $				$ 10
Cheng Shui Fung [Member] | Restricted Stock [Member]
Number of common stock shares issued for working capital			7,000,000
Common stock par value | $ / shares			$ 0.0001
Value of common stock issued for working capital | $			$ 10,000

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Commitments and Contingencies (Details Narrative)	9 Months Ended
	May 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rental expense	$ 98,356

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Commitments and Contingencies - Schedule of Operating Lease Minimum Rent Payments (Details)	May 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 75,972
2021	$ 22,037