Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
May 31, 2018 | Jul. 20, 2018 | |
Document and Entity Information: | ||
Entity Registrant Name | AB INTERNATIONAL GROUP CORP. | |
Entity Central Index Key | 1,605,331 | |
Trading Symbol | abqq | |
Current Fiscal Year End Date | --08-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 76,300,000 | |
Document Type | 10-Q | |
Document Period End Date | May 31, 2018 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | May 31, 2018 | Aug. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 680,317 | $ 147,164 |
Accounts receivable | 23,680 | 88,320 |
Prepaid expenses | 20,835 | 35,835 |
Total Current Assets | 724,832 | 271,319 |
Intangible assets, net | 669,600 | 682,712 |
Investment at cost | 282,000 | |
TOTAL ASSETS | 1,676,432 | 954,031 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 50,011 | 168,664 |
Accrued payroll | 2,500 | |
Due to shareholder | 1,687 | 1,613 |
Tax payable | 55,347 | 55,347 |
Total Current Liabilities | 107,045 | 228,124 |
Stockholders' Equity | ||
Common stock, $0.001 par value, 1,000,000,000 shares authorized; 31,450,000 and 29,650,000 shares issued and outstanding | 76,300 | 29,650 |
Additional paid-in capital | 2,052,543 | 631,693 |
Retained Earnings (deficit) | (559,456) | 64,564 |
Total Stockholders' Equity | 1,569,387 | 725,907 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,676,432 | $ 954,031 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares | May 31, 2018 | Aug. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 31,450,000 | 29,650,000 |
Common stock, shares outstanding | 31,450,000 | 29,650,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
May 31, 2018 | May 31, 2017 | May 31, 2018 | May 31, 2017 | |
Income Statement [Abstract] | ||||
Revenue | $ 71,040 | $ 177,152 | ||
Cost of revenue | 41,608 | 112,830 | ||
Gross Profit | 29,432 | 64,322 | ||
OPERATING EXPENSES | ||||
General and administrative expenses | 477,033 | $ 24,872 | 706,330 | $ 71,561 |
Related party salary and wages | 10,600 | 7,500 | 27,300 | 22,500 |
Total Operating Expenses | 487,633 | 32,372 | 733,630 | 94,061 |
LOSS FROM CONTINUED OPERATIONS | (458,201) | (32,372) | (669,308) | (94,061) |
Loss before income taxes | (458,201) | (32,372) | (669,308) | (94,061) |
Income Tax Provision | 0 | 0 | 0 | 0 |
Net loss from continuing operations | (458,201) | (32,372) | (669,308) | (94,061) |
Discontinued operations, net of tax benefits | ||||
Income from discontinued operations | 0 | 58,988 | 38,008 | 175,703 |
Gain on sale of intangible assets | 7,280 | |||
INCOME FROM DISCONTINUED OPERATIONS | 58,988 | 45,288 | 175,703 | |
NET INCOME (LOSS) | $ (458,201) | $ 26,616 | $ (624,020) | $ 81,642 |
NET INCOME (LOSS) FROM CONTINUED OPERATIONS PER SHARE: BASIC AND DILUTED (in dollars per share) | $ (0.01) | $ 0 | $ (0.02) | $ 0 |
INCOME (LOSS) FROM DISCONTINUED OPERATIONS PER SHARE: BASIC AND DILUTED (in dollars per share) | 0 | 0.01 | ||
NET INCOME PER SHARE: BASIC AND DILUTED (in dollars per share) | $ (0.01) | $ 0 | $ (0.01) | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED (in shares) | 71,391,848 | 27,194,022 | 44,013,553 | 26,501,832 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
May 31, 2018 | May 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) from continuing operations | $ (624,020) | $ 81,642 |
Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
Consulting fees paid in stock | 237,000 | 35,000 |
Amortization of intangible asset | 89,312 | 15,000 |
Gain on sales of intangible assets | (7,280) | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 14,720 | 11,176 |
Prepaid expenses | 15,000 | (13,334) |
Accounts payable and accrued liabilities | (118,653) | (76,665) |
Accrued payroll | (2,500) | 4,100 |
Income taxes payable | 4,518 | |
Change in Assets (Liabilities) from discontinued operations | 587 | |
Net cash used in operating activities | (396,421) | 62,024 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of Investment | (280,000) | |
Purchases of intangible asset | (200,000) | (138,240) |
Sales of intangible asset | 253,000 | |
Net cash provided by investing activities | (227,000) | (138,240) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Due to shareholder | 74 | (1,184) |
Proceeds from sale of common stock | 1,156,500 | 315,000 |
Net cash provided by financing activities | 1,156,574 | 313,816 |
Net increase (decrease) in cash and cash equivalents | 533,153 | 237,600 |
Cash and cash equivalents - beginning of period | 147,164 | 166,826 |
Cash and cash equivalents - end of period | 680,317 | 404,426 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 0 | 0 |
Cash paid for income taxes | 0 | 0 |
Non-Cash Investing and Financing Activity: | ||
Issuance of common stock for services | 237,000 | 35,000 |
Issuance of common stock for acquisition of Intangible asset | 72,000 | |
Common shares issued for acquisition of investment | 2,000 | |
Accounts payable for purchase of intangible asset | $ 0 | $ 0 |
ORGANIZATION AND BUSINESS OPERA
ORGANIZATION AND BUSINESS OPERATIONS | 9 Months Ended |
May 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BUSINESS OPERATIONS | NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS AB INTERNATIONAL GROUP CORP. (the “Company”, “we” or “us”) was incorporated under the laws of the State of Nevada on July 29, 2013 (“Inception”) and originally intended to purchase used cars in the United States and sell them in Kyrgyzstan. The Company’s fiscal year end is August 31. On January 22, 2016, the Company’s former sole officer, who owned 83% of the Company’s outstanding common shares, sold all his common shares to un-related investors. Subsequently, the Company modified its business plan and is currently focusing on the creation of a mobile app marketing engine to be used for movie trailer promotion through a mobile smartphone app in China. On November 16, 2017, the Company sold the copyright and all other rights in a film named “Gong Fu Nv Pai” copyright and the mobile application (Amoney). Currently, the Company is focused on the acquisition and development of intellectual property. On January 18, 2018 the Company and Wellington Shields & Co.(“Wellington”) Entered into an Engagement agreement in connection with an offering of $20,000,000. Effective on June 30, 2018, the Company and Wellington agree as follows to amend the engagement agreement. · A non-refundable consulting fee in the amount of $25,000 to be payable and 100,000 restricted shares. · This engagement agreement amendment shall terminate on November 30, 2018 or upon the earlier consummation of the placement. On June 1, 2017, the Company entered into a Patent License Agreement which granted the Company a worldwide license to a video synthesis and release system for mobile communications equipment (the “Technology”). The agreement allows the Company to utilize, improve upon, and sublicense the Technology. The Company plans to generate revenue through sub-licensing fees from apps and smartphone makers, and sales of licensed products as well as video mix apps. On March 21, 2018, the Company acquired the intellectual assets of KryptoKiosk Limited, a crypto currencies kiosk company which has licenses and patent in Australia, which enable the operation of cryptocurrency ATMs that allow buying and selling of Bitcoin, Litecoin, and Ethererum all in one terminal. The Company plans to generate revenue through sub-licensing fees for the operation of cryptocurrency ATMs. Through the foregoing the Company proposes to bring a physical aspect to something that is otherwise very abstract to people. The Company plans to invest in machines and sell sub-licenses in the Asia Pacific region with future world-wide expansion. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
May 31, 2018 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the company’s management, the accompanying unaudited interim financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the company as of May 31, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended May 31, 2018 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the company’s Annual Report on Form 10-K for the year ended August 31, 2017 filed with the SEC on January 12, 2018. Basis of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary App Board Limited. No intercompany balances or transactions exist during the nine month period ended May 31, 2018. Accounts Receivable Accounts receivable consist of amounts due from promotional services provided. Amounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. No amount for bad debt expense has been recorded by the Company during the nine months ended May 31, 2018 and 2017, and no write-off for bad debt were recorded for the nine months ended May 31, 2018, and 2017. Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” (“ASC-605”), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. The Company has recognized the revenues associated with and license fees from its patent once the criteria has been met, the product has been delivered, and the Company has received payment from the vendor. Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the nine months ended May 31, 2018 and 2017. |
DISCONTINUED OPERATIONS
DISCONTINUED OPERATIONS | 9 Months Ended |
May 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
DISCONTINUED OPERATIONS | NOTE 3 – DISCONTINUED OPERATIONS On November 16, 2017, the Company sold the copyright and all other rights in a film named “Gong Fu Nv Pai” copyright and the mobile application (Amoney) assets to an unrelated party for $253,000 cash. The sales of intangible assets qualified as a discontinued operation of the Company and accordingly, the Company has excluded results of the operations from its Consolidated Statements of Operations to present this revenue and expenses from these intangible assets in discontinued operations. The following table shows the results of operations of mobile application and copyright for three and nine months ended May 31, 2018 and 2017 which are included in the gain from discontinued operations: Three months Ended Nine months Ended May 31, May 31, 2018 2017 2018 2017 Revenue $ - $ 67,968 $ 49,920 $ 195,221 Cost of revenue - 5,000 11,912 15,000 Income Tax Provision - (3,980 ) - (4,518 ) Gain from discontinued operations $ - $ 62,968 $ 38,008 $ 180,221 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 9 Months Ended |
May 31, 2018 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
INTANGIBLE ASSETS | NOTE 4 – INTANGIBLE ASSETS As of May 31, 2018, and August 31, 2017, the balance of intangible assets are as follows; May 31, August 31, 2018 2017 Mobile app $ - $ 100,000 Patent 500,000 500,000 Intellectual property: Aura 200,000 - Intellectual property: Kryptokiosk 72,000 - Copyright - 138,240 772,000 738,240 Accumulated amortization (102,400 ) (55,528 ) Intangible asset, net $ 669,600 $ 682,712 Amortization expenses for nine months ended May 31, 2018, and 2017, was $89,312 and $15,000, respectively. During the nine months ended May 31, 2018, the Company sold the copyright and all other rights and the mobile application (Amoney) assets to an unrelated party for $253,000. The Company recorded gain on sales of assets of $57,200 as discontinued operations during the nine months ended May 31, 2018. On March 10, 2018, the Company acquired intellectual property from Aura Blocks Ltd. for $200,000. On March 21, 2018, the Company acquired all the intangible assets held by KryptoKiosk Limited, a Hong Kong company (“Krypto”). In consideration for the acquisition of the shares the Company paid the seller 2,400,000 shares, at market value of $72,000. |
INVESTMENT IN ICROWDU INC.
INVESTMENT IN ICROWDU INC. | 9 Months Ended |
May 31, 2018 | |
Business Combinations [Abstract] | |
INVESTMENT IN ICROWDU INC. | NOTE 5 – INVESTMENT IN ICROWDU INC. On May 9, 2018, the Company entered into an investor agreement with iCrowdU Inc. The Company agreed to purchase 228,013 shares of iCrowdU Inc. at a share price of $1.228 for total consideration of $280,000. iCrowdU Inc. offers an online platform and mobile app for crowd funding services targeting the global crowd funding market. The Company has agreed to purchase up to 51% of iCrowdU Inc. for a total investment of $10,000,000. During the nine months ended Mary 31, 2018, the Company issued 2,000,000 common shares in relation to the iCrowdU Inc. acquisition. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
May 31, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 6 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. In May 2018, the Company appointed Ian Wright as Chief Operational Officer, and Luis Hadic as Chief Financial Officer. During the nine months ended May 31, 2018, a shareholder paid an invoice of $74 on behalf of the Company. As at May 31, 2018 and August 31, 2017, the Company owed $1,687 and $1,613 to this shareholder, respectively. The amounts are due on demand, unsecured, and non-interest bearing. During the nine months ended May 31, 2018 and 2017, $27,300 and $22,500 was paid to two related parties as salaries and wages. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended |
May 31, 2018 | |
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | NOTE 7 – STOCKHOLDERS’ EQUITY Effective as of June 6, 2018, the Company amended its Articles of Incorporation to increase its authorized common stock to One Billion (1,000,000,000) shares, par value $0.001 per share. During the nine months ended May 31, 2018, the Company issued common shares, as follows: · 38,550,000 shares to the Company’s majority shareholder and third parties for proceeds of $1,156,500. · 3,700,000 shares for consulting services of $75,000 to 9 consultants. · 2,400,000 shares in consideration for the purchase of intangible assets held by KryptoKiosk. · 2,000,000 shares for acquisition of shares of iCrowdU Inc. |
SUMMARY OF SIGNIFICANT ACCOUN13
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
May 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the company’s management, the accompanying unaudited interim financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the company as of May 31, 2018 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended May 31, 2018 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited financial statements should be read in conjunction with the financial statements and related notes thereto included in the company’s Annual Report on Form 10-K for the year ended August 31, 2017 filed with the SEC on January 12, 2018. |
Basis of Consolidation | Basis of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary App Board Limited. No intercompany balances or transactions exist during the nine month period ended May 31, 2018. |
Accounts receivable | Accounts Receivable Accounts receivable consist of amounts due from promotional services provided. Amounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in its existing accounts receivable. No amount for bad debt expense has been recorded by the Company during the nine months ended May 31, 2018 and 2017, and no write-off for bad debt were recorded for the nine months ended May 31, 2018, and 2017. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with Accounting Standards Codification No. 605, “Revenue Recognition” (“ASC-605”), ASC-605 requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management’s judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. The Company has recognized the revenues associated with and license fees from its patent once the criteria has been met, the product has been delivered, and the Company has received payment from the vendor. |
Basic and Diluted Income (Loss) Per Share | Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with FASB ASC 260, “Earnings per Share” which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. No potentially dilutive debt or equity instruments were issued or outstanding during the nine months ended May 31, 2018 and 2017. |
DISCONTINUED OPERATIONS (Tables
DISCONTINUED OPERATIONS (Tables) | 9 Months Ended |
May 31, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of discontinued operations | Three months Ended Nine months Ended May 31, May 31, 2018 2017 2018 2017 Revenue $ - $ 67,968 $ 49,920 $ 195,221 Cost of revenue - 5,000 11,912 15,000 Income Tax Provision - (3,980 ) - (4,518 ) Gain from discontinued operations $ - $ 62,968 $ 38,008 $ 180,221 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 9 Months Ended |
May 31, 2018 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Schedule of intangible assets | May 31, August 31, 2018 2017 Mobile app $ - $ 100,000 Patent 500,000 500,000 Intellectual property: Aura 200,000 - Intellectual property: Kryptokiosk 72,000 - Copyright - 138,240 772,000 738,240 Accumulated amortization (102,400 ) (55,528 ) Intangible asset, net $ 669,600 $ 682,712 |
ORGANIZATION AND BUSINESS OPE16
ORGANIZATION AND BUSINESS OPERATIONS (Detail Textuals) - USD ($) | 1 Months Ended | 9 Months Ended | ||
Jan. 18, 2018 | May 31, 2018 | Jun. 30, 2018 | Jan. 22, 2016 | |
Organization And Business Operations [Line Items] | ||||
State country name | State of Nevada | |||
Entity incorporation, date of incorporation | Jul. 29, 2013 | |||
Ownership interest sold by former officer | 83.00% | |||
Engagement agreement | Wellington Shields & Co. ("Wellington") | ||||
Organization And Business Operations [Line Items] | ||||
Proceeds from offering into an agreement | $ 20,000,000 | |||
Subsequent event | Engagement agreement | Wellington Shields & Co. ("Wellington") | ||||
Organization And Business Operations [Line Items] | ||||
Amount of non-refundable consulting fee to be payable | $ 25,000 | |||
Number of restricted shares to be issued | 100,000 |
DISCONTINUED OPERATIONS (Detail
DISCONTINUED OPERATIONS (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
May 31, 2018 | May 31, 2017 | May 31, 2018 | May 31, 2017 | |
Discontinued Operations and Disposal Groups [Abstract] | ||||
Revenue | $ 0 | $ 67,968 | $ 49,920 | $ 195,221 |
Cost of revenue | 0 | 5,000 | 11,912 | 15,000 |
Income Tax Provision | 0 | (3,980) | 0 | (4,518) |
Gain from discontinued operations | $ 0 | $ 58,988 | $ 38,008 | $ 175,703 |
DISCONTINUED OPERATIONS (Deta18
DISCONTINUED OPERATIONS (Detail Textuals) | 9 Months Ended |
May 31, 2018USD ($) | |
Discontinued Operations and Disposal Groups [Abstract] | |
Sales of intangible asset | $ 253,000 |
INTANGIBLE ASSETS (Details)
INTANGIBLE ASSETS (Details) - USD ($) | May 31, 2018 | Aug. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 772,000 | $ 738,240 |
Accumulated amortization | (102,400) | (55,528) |
Intangible asset, net | 669,600 | 682,712 |
Mobile app | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 0 | 100,000 |
Patent | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 500,000 | 500,000 |
Intellectual property | Aura | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 200,000 | |
Intellectual property | KryptoKiosk | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 72,000 | |
Copyright | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 0 | $ 138,240 |
INTANGIBLE ASSETS (Detail Textu
INTANGIBLE ASSETS (Detail Textuals) - USD ($) | 9 Months Ended | ||
May 31, 2018 | May 31, 2017 | Aug. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expenses | $ 89,312 | $ 15,000 | |
Sales of intangible asset | 253,000 | ||
Gain on sales of assets | 57,200 | ||
Acquisition of intellectual property and intangible assets | $ 772,000 | $ 738,240 | |
KryptoKiosk | |||
Finite-Lived Intangible Assets [Line Items] | |||
Number of shares issued for purchase of intangible assets | 2,400,000 | ||
Intellectual property | Aura Blocks Ltd. | |||
Finite-Lived Intangible Assets [Line Items] | |||
Acquisition of intellectual property and intangible assets | $ 200,000 | ||
Intellectual property | KryptoKiosk | |||
Finite-Lived Intangible Assets [Line Items] | |||
Acquisition of intellectual property and intangible assets | $ 72,000 |
INVESTMENT IN ICROWDU INC. (Det
INVESTMENT IN ICROWDU INC. (Detail Textuals) - iCrowdU Inc - USD ($) | May 09, 2018 | May 31, 2018 |
Business Acquisition [Line Items] | ||
Number of shares for acquisition | 2,000,000 | |
Investor agreement | ||
Business Acquisition [Line Items] | ||
Number of share purchased to acquire | 228,013 | |
Business acquisition, share price | $ 1.228 | |
Total consideration paid | $ 280,000 | |
Business combination, percentage | 51.00% | |
Total investment | $ 10,000,000 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($) | 3 Months Ended | 9 Months Ended | |||
May 31, 2018 | May 31, 2017 | May 31, 2018 | May 31, 2017 | Aug. 31, 2017 | |
Related Party Transactions [Abstract] | |||||
Shareholder repaid for operating expenses | $ 74 | $ (1,184) | |||
Due to shareholder | $ 1,687 | 1,687 | $ 1,613 | ||
Salary and wages paid to related party | $ 10,600 | $ 7,500 | $ 27,300 | $ 22,500 |
STOCKHOLDERS' EQUITY (Detail Te
STOCKHOLDERS' EQUITY (Detail Textuals) | 9 Months Ended | ||
May 31, 2018USD ($)Consultant$ / sharesshares | May 31, 2017USD ($) | Aug. 31, 2017$ / sharesshares | |
Stockholders Equity [Line Items] | |||
Proceeds from sale of common stock | $ | $ 1,156,500 | $ 315,000 | |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | |
Common stock, par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | |
iCrowdU Inc | |||
Stockholders Equity [Line Items] | |||
Number of shares for acquisition | 2,000,000 | ||
KryptoKiosk | |||
Stockholders Equity [Line Items] | |||
Number of shares issued for purchase of intangible assets | 2,400,000 | ||
Majority shareholder and third parties | |||
Stockholders Equity [Line Items] | |||
Proceeds from sale of common stock | $ | $ 1,156,500 | ||
Number of share issued to majority shareholder and third parties | 38,550,000 | ||
Consultants | |||
Stockholders Equity [Line Items] | |||
Number of consultant | Consultant | 9 | ||
Number of share issued for services | 3,700,000 | ||
Value of shares issued for services | $ | $ 75,000 |