Cover
Cover - USD ($) | 12 Months Ended | ||
Aug. 31, 2022 | Nov. 28, 2022 | Feb. 28, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Aug. 31, 2022 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Current Fiscal Year End Date | --08-31 | ||
Entity File Number | 000-55979 | ||
Entity Registrant Name | AB International Group Corp. | ||
Entity Central Index Key | 0001605331 | ||
Entity Tax Identification Number | 37-1740351 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | 48 Wall Street | ||
Entity Address, Address Line Two | Suite 1009 | ||
Entity Address, City or Town | New York | ||
Entity Address, State or Province | NY | ||
Entity Address, Postal Zip Code | 10005 | ||
City Area Code | (212) | ||
Local Phone Number | 918-4519 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 3,472,649 | ||
Entity Common Stock, Shares Outstanding | 609,811,480 | ||
Auditor Name | Prager Metis CPAs, LLC | ||
Auditor Location | Hackensack, New Jersey | ||
Auditor Firm ID | 273 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Current Assets | ||
Cash and cash equivalents | $ 84,223 | $ 132,253 |
Prepaid expenses | 13,035 | 13,566 |
Related party receivable | 1,439 | |
Subscription receivable | 87,239 | |
Purchase deposit for intangible assets, current portion | 644,785 | |
Total Current Assets | 97,258 | 879,282 |
Property and equipment, net | 12,695 | 53,705 |
Right of use operating lease assets, net | 1,004,018 | 47,827 |
Intangible assets, net | 3,798,282 | 3,998,805 |
Purchase deposits for intangible assets, non-current | 881,724 | 761,600 |
Security deposit | 45,240 | 16,508 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 5,839,217 | 5,757,727 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 293,786 | 122,110 |
Related party payable | 15,127 | 933,434 |
Current portion of obligations under operating leases | 229,813 | 48,226 |
Due to stockholders | 377,398 | 2,347 |
Deferred revenue | 38,000 | |
Dividend payable | 1,834 | |
Total Current Liabilities | 954,124 | 1,107,951 |
Obligations under operating leases, non-current | 863,145 | |
Total Liabilities | 1,817,269 | 1,107,951 |
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 10,000,000 preferred shares authorized; | ||
Common stock, $0.001 par value, 10,000,000,000 shares authorized; 384,512,583 and 226,589,735 shares issued and outstanding, as of August 31, 2022 and 2021, respectively | 384,512 | 226,590 |
Additional paid-in capital | 12,636,838 | 11,009,517 |
Accumulated deficit | (8,789,901) | (6,578,978) |
Unearned stock compensation | (209,957) | (7,473) |
Total Stockholders’ Equity | 4,021,948 | 4,649,776 |
Revenue | 2,928,000 | 115,091 |
Cost of revenue | (3,221,789) | (1,494,328) |
Gross Loss | (293,789) | (1,379,237) |
OPERATING EXPENSES | ||
General and administrative expenses | (1,190,360) | (1,511,333) |
Related party salary and wages | (547,638) | (333,337) |
Total Operating Expenses | (1,737,998) | (1,844,670) |
Loss From Operations | (2,031,787) | (3,223,907) |
OTHER INCOME (EXPENSES) | ||
Rent income | 1,920 | |
Interest expense, net | (239) | (156,815) |
Penalty expenses | (141,945) | |
Gain from change in fair value | 64,584 | |
Loss from lease termination | (3,251) | |
Loss from prepaid convertible note | (232,797) | |
Loss from warrant termination | (12,343) | |
Loss from warrant exercise | (75,000) | |
Total Other Expenses | (142,184) | (413,702) |
Loss Before Income Tax Benefit | (2,173,971) | (3,637,609) |
Income tax benefit | 55,347 | |
NET LOSS | (2,173,971) | (3,582,262) |
Preferred shares dividend expense | (36,952) | (25,835) |
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS | $ (2,210,923) | $ (3,608,097) |
NET LOSS PER SHARE: BASIC | $ (0.01) | $ (0.02) |
NET LOSS PER SHARE: DILUTED | $ (0.01) | $ (0.02) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC | 290,712,023 | 194,571,251 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: DILUTED | 290,712,023 | 194,571,251 |
Preferred Class A [Member] | ||
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 10,000,000 preferred shares authorized; | $ 100 | $ 100 |
Preferred Class B [Member] | ||
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 10,000,000 preferred shares authorized; | 20 | 20 |
Preferred Class C [Member] | ||
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 10,000,000 preferred shares authorized; | 336 | |
Preferred Class D [Member] | ||
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 10,000,000 preferred shares authorized; |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Aug. 31, 2022 | Aug. 31, 2021 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | |
Preferred Stock, Shares Authorized | 10,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | |
Common Stock, Shares Authorized | 10,000,000,000 | |
Common Stock, Shares, Outstanding | 384,512,583 | 226,589,735 |
Preferred Class A [Member] | ||
Preferred Stock, Shares Outstanding | 100,000 | 100,000 |
Preferred Class B [Member] | ||
Preferred Stock, Shares Outstanding | 20,000 | 20,000 |
Preferred Class C [Member] | ||
Preferred Stock, Shares Outstanding | 335,850 | 0 |
Preferred Class D [Member] | ||
Preferred Stock, Shares Outstanding | 0 | 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance - August 31, 2021 at Aug. 31, 2020 | $ 46,661 | $ 7,271,983 | $ (2,970,880) | $ (391,667) | $ 3,956,097 | |
Shares, Issued at Aug. 31, 2020 | 46,661,417 | |||||
Common shares issued for cash | $ 23,000 | 529,000 | 552,000 | |||
Stock Issued During Period, Shares, Other | 23,000,000 | |||||
Common shares issued from note conversions | $ 25,406 | 158,347 | $ 183,753 | |||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 25,406,238 | 25,406,238 | ||||
Common shares issued from warrant exercises | $ 56,408 | 81,358 | $ 137,766 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 56,407,922 | 56,407,922 | ||||
Common shares returned due to officer resignations | $ (261) | (391,405) | 391,667 | |||
[custom:CommonSharesReturnedDueToOfficerResignationsShares] | (261,111) | |||||
Put Shares issued for cash | $ 31,647 | 1,662,904 | 1,694,551 | |||
[custom:StockIssuedDuringPeriodPutSharesForCashShares] | 31,646,633 | |||||
Common shares issued to officers for services | $ 1,500 | 43,500 | (7,473) | 37,527 | ||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 1,500,000 | |||||
Common shares issued to officers for services | $ 17,700 | 513,300 | 531,000 | |||
Stock Issued During Period, Shares, Issued for Services | 17,700,000 | |||||
Preferred shares series A issuance | $ 100 | 100 | ||||
[custom:SeriesAPreferredSharesIssuedShares] | 100,000 | |||||
Preferred shares series B issuance | $ 20 | 319,980 | 320,000 | |||
[custom:SeriesBPreferredSharesIssuedShares] | 20,000 | |||||
Preferred shares series C issuance | $ 280 | 243,220 | 243,500 | |||
[custom:SeriesCPreferredSharesIssuedShares] | 280,025 | |||||
Preferred shares series D issuance | $ 1 | 722,999 | 723,000 | |||
[custom:SeriesDPreferredSharesIssuedShares] | 798 | |||||
Preferred shares series C dividend shares | $ 19 | 16,782 | 16,802 | |||
[custom:PreferredSharesSeriesCDividendShares] | 19,322 | |||||
Preferred shares series D dividend shares | $ 0 | 7,200 | 7,200 | |||
[custom:PreferredSharesSeriesDDividendSharesShares] | 6 | |||||
Preferred shares series C converted into common shares | $ 24,529 | $ (300) | (24,228) | |||
Stock Issued During Period, Shares, Conversion of Units | 24,528,637 | (300,151) | ||||
Termination of issued warrants | (145,423) | (145,423) | ||||
[custom:WarrantsTerminatedAndExercisedShares] | ||||||
Net loss | (3,608,097) | (3,608,097) | ||||
Balance - August 31, 2022 at Aug. 31, 2021 | $ 226,590 | $ 120 | 11,009,517 | (6,578,978) | (7,473) | 4,649,776 |
Shares, Issued at Aug. 31, 2021 | 226,589,735 | 120,000 | ||||
Put Shares issued for cash | $ 14,900 | 216,002 | 230,902 | |||
[custom:StockIssuedDuringPeriodPutSharesForCashShares] | 14,900,000 | |||||
Common shares issued to officers for services | $ 45,000 | 576,000 | (202,484) | 418,516 | ||
Stock Issued During Period, Shares, Issued for Services | 45,000,000 | |||||
Preferred shares series C issuance | $ 758 | 586,148 | 586,906 | |||
[custom:SeriesCPreferredSharesIssuedShares] | 757,965 | |||||
Preferred shares series D issuance | 172,040 | 172,040 | ||||
[custom:SeriesDPreferredSharesIssuedShares] | 187 | |||||
Preferred shares series C converted into common shares | $ 85,715 | $ (422) | (85,293) | |||
Stock Issued During Period, Shares, Conversion of Units | 85,715,176 | (422,115) | ||||
Net loss | (2,210,923) | (2,210,923) | ||||
Penalty and dividend in connection with Preferred shares series C | 174,731 | 174,731 | ||||
[custom:StockIssuedDuringPeriodPenaltyInConnectionSeriesCShares] | ||||||
Preferred shares series D and dividend shares converted into common shares | $ 12,307 | (12,307) | ||||
[custom:StockIssuedDuringPeriodSharesConversionOfUnitsSeriesD] | 12,307,672 | (187) | ||||
Balance - August 31, 2022 at Aug. 31, 2022 | $ 384,512 | $ 456 | $ 12,636,838 | $ (8,789,901) | $ (209,957) | $ 4,021,948 |
Shares, Issued at Aug. 31, 2022 | 384,512,583 | 455,850 |
Consoolidated Statements of Cas
Consoolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (2,210,923) | $ (3,608,097) |
Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
Executive salaries and consulting fees paid in stock | 418,516 | 568,627 |
Depreciation of fixed asset | 41,010 | 53,048 |
Amortization of intangible asset | 3,221,789 | 1,468,728 |
Gain from change in fair value of derivatives | (64,584) | |
Loss from lease termination | 3,251 | |
Loss from warrant termination | 12,343 | |
Loss from warrant exercise | 75,000 | |
Loss from prepaid convertible notes | 232,797 | |
Non-cash interest for convertible notes | 156,822 | |
Non-cash note conversion fees | 8,750 | |
Non-cash penalty and dividend expense for preferred shares | 172,897 | 25,835 |
Non-cash lease expense | 88,541 | 1,590 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 137,700 | |
Interest receivable | 26,240 | |
Related party receivable | 1,439 | 86,142 |
Purchase deposit | (644,785) | |
Prepaid expenses | 531 | (2,542) |
Rent security & electricity deposit | (28,732) | 1,920 |
Purchase of movie and TV series broadcast right and copyright | (2,496,605) | (4,312,053) |
Accounts payable and accrued liabilities | 171,676 | (240,950) |
Related party payable | (918,307) | 927,930 |
Tax payable | (56,750) | |
Deferred revenue | 38,000 | |
Net cash used in operating activities | (1,500,168) | (5,143,038) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (5,000) | |
Net cash used in investing activities | (5,000) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from issuance of convertible notes | 233,017 | |
Proceeds from common stock issuances | 318,141 | 2,220,812 |
Proceeds from preferred share B issuances | 320,000 | |
Proceeds from preferred share C issuances | 586,906 | 243,500 |
Proceeds from preferred share D issuances | 172,040 | 723,000 |
Payments for warrant termination | (95,000) | |
Prepayments of convertible notes | (821,970) | |
Due to shareholders | 375,051 | 1,871 |
Net cash provided by financing activities | 1,452,138 | 2,825,230 |
Net decrease in cash and cash equivalents | (48,030) | (2,322,808) |
Cash and cash equivalents – beginning of the year | 132,253 | 2,455,061 |
Cash and cash equivalents – end of the year | 84,223 | 132,253 |
Supplemental Cash Flow Disclosures | ||
Cash paid for interest | 239 | |
Cash paid for income taxes | ||
Non-Cash Investing and Financing Activities: | ||
Cashless warrant exercises | 137,766 | |
Convertible notes converted to common shares | (183,752) | |
Transfer from purchase deposit to intangible assets | 1,406,385 | |
Additions to ROU assets | 1,207,789 | 27,421 |
Common shares returned due to officer resignations | (391,667) | |
Preferred shares series C dividend paid in shares | 16,802 | |
Preferred shares series D dividend paid in shares | 7,200 | |
Preferred shares and dividend shares converted into common shares | $ 990,502 |
NOTE 1 _ ORGANIZATION AND BUSIN
NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 1 – 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 On April 22, 2020, the Company announced the first phase development of its video streaming service. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. The Company's professional team are sourcing such dramas and films to provide video streaming service on the ABQQ.tv. The video streaming website www.ABQQ.tv was officially launched on December 29, 2020. The Company will continue marketing and promoting the ABQQ.tv website through GoogleAds and acquire additional broadcast rights for movies and TV series, and plan to charge subscription fees once the Company has obtained at least 200 broadcast rights of movie and TV series. On April 27, 2022, the Company purchased a unique Non-Fungible Token (“NFT”) movie and music marketplace, named as the NFT MMM from Stareastnet Portal Limited, an unrelated party, which including an APP “NFTMMM” on Google Play, and full right to the website: stareastnet.io. NFTs are digital assets with a unique identifier that is stored on a blockchain, and NFTs are tradable rights of digital assets (pictures, music, films, and virtual creations) where ownership is recorded in blockchain smart contracts. The Company has licensed NFT MMM platform to a third party for the operation and obtained license fee starting for the fourth quarter of fiscal 2022. On May 5, 2022, the Company incorporated AB Cinemas NY, Inc. in New York, NY, for the purpose of operating Mt. Kisco Theatre located at 144 Main Street, Mount Kisco, NY. The Company intends to use this theatre with a total of 5 screens and 466 seats for screening films. This is the Company’s first cinema in the United States and movie theater will become a new business line of the Company. The theatre has started the operation since October 2022. After a rough two years for movie theatres due to the pandemic, movie theaters are starting to show signs of life again. The Company is intending to shift the business strategy from online only to the combination of online and offline business. The Company expects to generate considerable revenue from its movie theater business line in the following years. |
NOTE 2 _ SUMMARY OF SIGNIFICANT
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and have been consistently applied. Principles of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary App Board Limited and AB Cinemas NY, Inc. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Foreign Currency Transactions The financial risk arises from the fluctuations in foreign exchange rates and the degrees of volatility in these rates. Currently the Company does not use derivative instruments to reduce its exposure to foreign currency risk. Gains and losses from transactions of foreign currency into U.S. dollars are included in current results of operations. Prepayments Prepayments primarily consist of O TC market annual fee and payments made to acquire the copyrights and distribution rights of movies, TV shows and music, etc. Prepayments are classified as either current or non-current based on the nature and the terms of the respective agreements. These prepayments are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. The allowance is also based on management’s best estimate of specific losses on individual exposures, as well as a provision on historical trends of collections and utilizations. Actual amounts received or utilized may differ from management’s estimate of credit worthiness and the economic environment. Prepayments are written off against the allowances only after exhaustive collection efforts. No allowance was recorded for the years ended August 31, 2022 and 2021. Property and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Leasehold improvement is related to the enhancements paid by the Company to leased offices. Leasehold improvement represents capital expenditures for direct costs of renovation or acquisition and design fees incurred. The amortization of leasehold improvements commences once the renovation is completed and ready for the Company’s intended use. The straight-line depreciation method is used to compute depreciation over the estimated useful lives of the assets, as follows: Estimated Useful Life Furniture 7 Appliances 5 Leasehold improvement Lesser of useful life and lease term Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments that substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations in other income or expenses. Intangible Assets Intangible assets are recorded at the lower of cost or amortized cost or estimated fair value and amortized as follows: • Movie copyrights and broadcast rights: straight-line method over the estimated life of the asset, which has been determined by management to be 2 years • Patent: straight-line method over the term of 5 years based on the patent license agreement • NFT MMM platform: straight-line method over the estimated life of the asset, which has been determined by management to be 2 years Amortized costs of the intangible asset are recorded as cost of sales, as the intangible assets are directly related to generation of revenues in the Company. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Lease property under operating lease The Company adopted ASU No. 2016-02—Leases (Topic 842) since June 1, 2019, using a modified retrospective transition method permitted under ASU No. 2018-11. This transition approach provides a method for recording existing leases only at the date of adoption and does not require previously reported balances to be adjusted. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. Adoption of the new standard resulted in the recording of additional lease assets and lease liabilities on the consolidated balance sheets. The standard did not materially impact the Company’s consolidated net earnings and cash flows. Impairment of Long-lived asset The Company evaluates its long-lived assets or asset group, including intangible assets with indefinite and finite lives, for impairment. Intangible assets with indefinite lives that are not subject to amortization are tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the assets might be impaired in accordance with ASC 350. Such impairment test compares the fair values of assets with their carrying values with an impairment loss recognized when the carrying values exceed fair values. For long-lived assets and intangible assets with finite lives that are subject to depreciation and amortization are tested for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Company evaluates impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Company would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. Impairment losses are included in the general and administrative expense. There was no Revenue Recognition The Company adopted ASC Topic 606, “Revenue from Contracts with Customers”, To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not The Company derives its revenues primarily from three sources: (1) sub-licensing a patent ; (2) selling copyrights of movies or TV shows; (3) licensing NFT MMM platform and providing technical service. Revenue from sub-licensing a patent: The sub-licensing revenue is recognized monthly based upon the number of users who download the APP that utilizes the Company’s patent. In January, 2021, the sublicensing agreement with Anyone Picture was terminated. As such, there has been no revenues generated from sub-licensing since the end of December, 2020. Once the Company finds another company to sublicense the patent, it will generate royalty revenue again. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Revenue Recognition (continued) Revenue from selling copyrights of movies or TV shows: The Company recognizes revenue when master copy of movie or TV show is delivered, the IP is authorized and transferred to customers. The Company’s contracts with customer are primarily on a fixed-price basis and do not contain cancelable and refund-type provisions. Revenue from licensing NFT MMM platform and providing technical service fee: The Company derives revenue from NFTMM platform license fees, which includes accessing the NFTMM platform and platform data on both app and website. The Company's contract has one year term, and is non-cancelable and non-refundable. In accordance with ASC 606, a 'right to access' license is recognized over the license period. Initial technical service fee comprises of installation, implementation and necessary training required by the customer. These services fees are recognized as the services are delivered at a point in time. Contract Assets and Liabilities Payment terms are established on the Company’s pre-established credit requirements based upon an evaluation of customers’ credit quality. Contact assets are recognized for in related accounts receivable. Contract liabilities are recognized for contracts where payment has been received in advance of delivery. The contract liability balance can vary significantly depending on the timing of when an order is placed and when shipment or delivery occurs. As of August 31, 2022 and 2021, other than deferred revenue, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its consolidated balance sheets. Disaggregation of Revenues The Company disaggregates its revenue from contracts by product and service types, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors. The Company’s disaggregation of revenues for the years ended August 31, 2022 and 2021 are as follows: For the year ended For the year ended Sub-licensing a patent $ — $ 115,091 Selling of copyrights of movies and TV shows 2,806,000 — licensing NFT MMM platform 122,000 — Total revenue $ 2,928,000 $ 115,091 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fair Value of Financial Instruments ASC 820, “Fair Value Measurements” (ASC 820) and ASC 825, “Financial Instruments” (ASC 825), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 – Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 – Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The carrying values of cash, accounts payable, and accrued liabilities approximate fair value due to their short-term nature. The fair values of warrant liabilities and derivative liabilities embedded in convertible notes are determined by level 3 inputs. Accounting for Derivative Instruments The Company accounts for derivative instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (ASC 815) and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet. The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company's policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company's liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, the Company seeks to validate the model's output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820 based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments at fair value as discussed above. Changes in fair value are recognized in the period incurred as either gains or losses. Warrants Warrants are classified as equity and the proceeds from issuing warrants in conjunction with convertible notes are allocated based on the relative fair values of the base instrument of convertible notes and the warrants by following the guidance of ASC 470-20-25-2 . Proceeds from the sale of a debt instrument with stock purchase warrants (detachable call options) shall be allocated to the two elements based on the relative fair values of the debt instrument without the warrants and of the warrants themselves at time of issuance. The portion of the proceeds so allocated to the warrants shall be accounted for as paid-in capital. The remainder of the proceeds shall be allocated to the debt instrument portion of the transaction. This usually results in a discount (or, occasionally, a reduced premium), which shall be accounted for as interest expense under Topic 835 Interest. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Income Taxes The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. Deferred income taxes assets and liabilities are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Basic and Diluted Earning (Loss) Per Share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income (loss) divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. Share-Based Compensation The Company follows the provisions of ASC 718, “Compensation - Stock Compensation,” which establishes the accounting for employee share-based awards. For employee share-based awards, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight-line basis over the requisite service period for the entire award. Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company does not expect the adoption of ASU 2021-04 to have a material effect on the consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of operations and statements of cash flows. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 3 _ GOING CONCERN
NOTE 3 – GOING CONCERN | 12 Months Ended |
Aug. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 3 – GOING CONCERN | NOTE 3 – GOING CONCERN The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. As of August 31, 2022, the Company had an accumulated deficit of approximately $8.8 million $856,866 $2.2 million $1.5 million These factors, among others, raise the substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of these uncertainties. Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provides the opportunity for the Company to continue as a going concern. |
NOTE 4 _ SUBSCRIPTION RECEIVABL
NOTE 4 – SUBSCRIPTION RECEIVABLE | 12 Months Ended |
Aug. 31, 2022 | |
Receivables [Abstract] | |
NOTE 4 – SUBSCRIPTION RECEIVABLE | NOTE 4 – SUBSCRIPTION RECEIVABLE Subscription receivable is cash not yet collected from the stockholders for issuance of common stock. As of August 31, 2022, the subscription receivable balance was $nil. As of August 31, 2021, the subscription receivable of $87,239 3 million |
NOTE 5 _ PROPERTY AND EQUIPMENT
NOTE 5 – PROPERTY AND EQUIPMENT | 12 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
NOTE 5 – PROPERTY AND EQUIPMENT | NOTE 5 – PROPERTY AND EQUIPMENT The Company capitalized the renovation cost as leasehold improvement and the cost of furniture and appliances as fixed asset. Leasehold improvement relates to renovation and upgrade of the leased office. The depreciation expense was $41,010 $53,048 August 31, 2022 August 31, 2021 Leasehold improvement $ 146,304 $ 146,304 Appliances and furniture 25,974 25,974 Total cost 172,278 172,278 Accumulated depreciation ( 159,583 ) ( 118,573 ) Property and equipment, net $ 12,695 $ 53,705 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 6 _ INTANGIBLE ASSETS
NOTE 6 – INTANGIBLE ASSETS | 12 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
NOTE 6 – INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS As of August 31, 2022 and 2021, the balance of intangible assets are as follows: August 31, 2022 August 31, 2021 Patent license right $ — $ 500,000 Movie copyrights - Love over the world 853,333 853,333 Sitcom copyrights - Chujian 640,000 640,000 Movie copyrights - A story as a picture 422,400 422,400 Movie copyrights - Our treasures 936,960 936,960 Movie broadcast right- On the way 256,000 — Movie copyrights - Too simple 1,271,265 — Movie copyrights - Confusion 1,024,000 — TV drama copyright - 15 episodes 190,000 — Movie and TV series broadcast rights 2,439,840 2,439,840 NFT MMM platform 280,000 — Total cost 8,313,798 5,792,533 Accumulated amortization (4,515,516 ) (1,793,728 ) Intangible assets, net $ 3,798,282 $ 3,998,805 Intangible assets include: 1) a patent license right (expired on 6/1/2022) obtained from Guangzhou Shengshituhua Film and Television Company Limited as a worldwide license to a video synthesis and release system for mobile communications equipment; 2) copyrights for the movies and TV drama series; 3) broadcast rights for fifty-nine movie and TV series; and 4) On April 27, 2022, the Company purchased a unique Non-Fungible Token movie and music marketplace, named as the NFT MMM, from Stareastnet Portal Limited, an unrelated party, which including an APP“NFT MMM” on Google Play, and full right to the website: starestnet.io. In July 2021, the Company acquired a movie copyright of “Too Simple” from Guang Dong Honor Pictures Ltd at a price of $1,271,265 . As of August 31, 2021, $644,785 was paid and recorded as et. On December 31, 2021, both parties entered into a termination contract to cancel the agreement for a full refund before May 31, 2022. Per further negotiation, on June 23, 2022, both parties agreed to resume the purchase transaction. The Company paid the remaining balance in fiscal 2022 and transferred the balance to intangible asset when it obtained the copyright of the movie. movie. The estimated amortization expense for the years ended August 31, 2022 and 2021 was $3,221,789 and $1,468,728 , respectively. Twelve months ending August 31, Amortization expense 2023 $ 2,788,171 2024 1,010,111 Total $ 3,798,282 On January 24, 2022, the Company sold the mainland China copyrights and broadcast rights of the movie “Love over the world”, “Our treasures” and “Confusion” to a third party for a price of $1,800,000 On May 2, 2022, the Company sold the mainland China copyright and broadcast right of the movie “ ” to a third party for a price of $128,000 . The Company remains to have all copyright of outside of mainland China. On May 3, 2022, the Company sold the mainland China broadcast right of the movie “On the Way” to a third party for a price of $128,000 On June 23, 2022, the Company sold the mainland China copyright and broadcast right of the movie “Too Simple” to Zestv Studios Limited, a Hong Kong entity 100% owned by the Chief Executive Officer Chiyuan Deng, for a price of $750,000 On August 6, 2022, the Company licensed NFT MMM platform to a third party to allow the access of NFTMM platform and platform data on both app and website for one year starting from August 20, 2022 for a monthly license fee of $60,000 $100,000 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 7 _ LEASES
NOTE 7 – LEASES | 12 Months Ended |
Aug. 31, 2022 | |
Leases [Abstract] | |
NOTE 7 – LEASES | NOTE 7 – LEASES On November 22, 2020, the Company closed down a display store and terminated its lease, which has an original term from February 23, 2019 to February 22, 2022, as a result of the COVID-19 impact and uncertainties of the economy in Hong Kong. The Company leased certain office space in Hong Kong from Zestv Studios Limited, a Hong Kong entity 100% owned by the Chief Executive Officer Chiyuan Deng, under operating lease for three years $66,048 two years $66,048 The Company also leased an office space in Singapore under operating lease from April 13, 2021 to March 31, 2022 with monthly rental of $716 one year $20,400 On October 21, 2021, the Company signed a lease agreement to lease “the Mt. Kisco Theatre”, a movie theater, for five years $14,366 Total lease expense for the years ended August 31, 2022 and 2021 was $289,411 $94,570 August 31, 2022 August 31, 2021 Right-of-use assets, net $ 1,004,018 $ 47,827 Operating lease liabilities - current $ 229,813 $ 48,226 Operating lease liabilities - non-current 863,145 — Total operating lease liabilities $ 1,092,958 $ 48,226 The weighted average remaining lease terms was 4.37 years The following is a schedule of maturities of lease liabilities are as follows: Twelve months ending August 31, 2023 $ 238,443 2024 260,396 2025 250,555 2026 255,412 2027 107,275 Total future minimum lease payments 1,112,081 Less: imputed interest ( 19,123 ) Total $ 1,092,958 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 8 _ PURCHASE DEPOSITS FOR
NOTE 8 – PURCHASE DEPOSITS FOR INTANGIBLE ASSETS | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 8 – PURCHASE DEPOSITS FOR INTANGIBLE ASSETS | NOTE 8 – PURCHASE DEPOSITS FOR INTANGIBLE ASSETS The balance of purchase deposits for intangible assets which relates to the acquisition of copyrights and broadcast rights for movies and TV drama was as follows: August 31, 2022 August 31, 2021 Purchase deposit for movie – On the way $ — $ 256,000 Purchase deposit for movie – Confusion — 505,600 Purchase deposit for 25-episode TV drama 525,000 — Purchase deposit for five movies 356,724 — Total purchase deposits for intangible assets $ 881,724 $ 761,600 • In November 2019, the Company acquired the broadcast right of “On the Way” from All In One Media Ltd for online streaming at a price of $256,000 . The Company recognized the balance as intangible asset in March 2022 when the movie is available for online broadcasting. The Company sold the mainland China copyright and broadcast right of this movie in May 2022 (See Note 6). • In November 2019, the Company acquired the broadcast right of “Confusion” from All In One Media Ltd for online streaming at a price of $115,200 . This broadcast right only allows online streaming outside mainland China. In July 2021, the Company acquired the full movie copyright for both mainland China and overseas with additional cost of $908,800 and the total price is $1,024,000 . As of August 31, 2021, $505,600 was paid by the Company. The Company paid the remaining balance and recognized copyright as intangible asset in March 2022 when the movie is available for online broadcasting. • In March 2022, the Company signed a purchase agreement with Anyone Pictures Limited to acquire the copyright to broadcast a 25-episode TV drama series outside of mainland China at a price of $5253,000 . The fill episode is expected to deliver to the Company by the end of December 2022. • In March 2022, the Company signed a purchase agreement with All In One Media Ltd to acquire the copyrights and broadcast right for five movies at a price of $1,500,000 . These copyrights and broadcast rights allow the Company to broadcast these movies outside the mainland China. As of August 31, 2022, the Company made total payments of $356,724 . AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 9 _ CONVERTIBLE NOTES
NOTE 9 – CONVERTIBLE NOTES | 12 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
NOTE 9 – CONVERTIBLE NOTES | NOTE 9 – CONVERTIBLE NOTES On November 18, 2019, the Company closed a private financing with EMA Financial, LLC (“EMA Financial” or the “Holder”) by issuing a convertible note (the “Note”). In connection with the issuance of the Note, the Company granted EMA Financial a five year 30,000 $12.5 100% 45,851,221 On December 13, 2019, the Company entered into a Securities Purchase Agreement with Peak One Opportunity Fund, L.P., a Delaware limited partnership (“Peak One” or the “Holder”), pursuant to which we issued and sold to the Peak One a convertible promissory note. The Note has an original principal amount of $235,000 $211,500 $23,500 $23,500 1,096,846 five year 10,000 $10 100% 3,720,326 On January 8, 2020, the Company entered into a Securities Purchase Agreement with Crown Bridge Partners, LLC, a New York limited company (“Crown Bridge”), pursuant to which the Company issued and sold to Crown a convertible promissory note, dated January 8, 2020, in the principal amount of $121,500 $109,500 $12,000 $12,000 five year 4,680 $12.5 On December 31, 2019, the Company closed a private financing with Auctus Capital Partners, LLC, (“Auctus” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $75,000 with no original discount upon issuance. As part of initial closing the outstanding principal amount shall be $75,000 and the Holder shall pay $75,000 of the consideration (the “First Tranche”). Out of $75,000 consideration, the Company has received $59,342 cash from Auctus with the remaining $15,658 spent as legal expense for note issuance and due diligence fees. The term of this convertible note is 9 months with the maturity date on September 30, 2020 . On February 13, 2020, the Company closed a private financing with East Capital Investment Corporation (“East Capital” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $50,000 $50,000 $50,000 $50,000 $43,492 $6,508 1 year February 13, 2021 On February 19, 2020, the Company closed a private financing with Fidelis Capital, LLC, (“Fidelis” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $50,000 $50,000 $50,000 $50,000 $43,487 $6,513 1 year February 19, 2021 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) On March 12, 2020, the Company closed a private financing with Armada Capital Partners, LLC, (“Armada” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $38,500 $3,500 $38,500 $35,000 $35,000 $32,992 $2,008 one year March 12, 2021 five year 4,200 $12.50 On July 17, 2020, the Company closed a private financing with EMA Financial, LLC (“EMA Financial” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $50,000 $2,500 $50,000 $47,500 $47,500 $42,987 $4,513 one year July 17, 2021 On July 24, 2020, the Company closed a private financing with Power Up Lending Group Ltd., (“Power up” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $130,000 $130,000 $130,000 $130,000 $116,079 $13,921 one year July 24, 2021 On August 18, 2020, the Company closed another private financing with Power Up Lending Group Ltd., (“Power up” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $63,000 $63,000 $63,000 $63,000 $54,939 $8,061 one year August 18, 2021 On September 1, 2020, the Company closed another private financing with Jefferson Street Capital LLC, (“Jefferson Street Capital” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $82,500 $7,500 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) As part of closing the outstanding principal amount shall be $82,500 $75,000 $75,000 $68,949 $6,051 The term of this convertible note is 1 year September 1, 2021 10.0% Upon an event of default, the interest rate will be equal to the 22.0% per annum from the due date thereof until the same is paid The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date On September 1, 2020, the Company closed another private financing with FirstFire Global Opportunities Fund, LLC, (“FirstFire Global” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $75,000 $3,750 As part of closing the outstanding principal amount shall be $75,000 $71,250 $71,250 $61,498 $9,752 The term of this convertible note is 9 months June 1, 2021 10.0% Upon an event of default, the interest rate will be equal to the 24.0% per annum from the due date thereof until the same is paid The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date On October 8, 2020, the Company closed another private financing with Power Up Lending Group Ltd., (“Power up” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $55,000 As part of closing the outstanding principal amount shall be $55,000 $55,000 $55,000 $47,579 $7,421 The term of this convertible note is 1 year October 8, 2021 10.0% Upon an event of default, the interest rate will be equal to the 22.0% per annum from the due date thereof until the same is paid The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date On October 9, 2020, the Company closed another private financing with East Capital Investment Corp., (“East Capital” or the “Holder”) by issuing a convertible note (the “Note”). The Note has an original principal amount of $62,700 As part of closing the outstanding principal amount shall be $62,700 $62,700 $62,700 $54,992 $7,708 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) The term of this convertible note is 1 year October 9, 2021 10.0% The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date The below table summarizes all the convertible notes issued during the year ended August 31, 2021. Counterparties Issuance date Maturity Date Principal Amount Purchase Price Discount on Note issuance Note issuance costs Proceeds Received (USD) Jefferson Street Capital September 1,2020 September 1, 2021 82,500 75,000 7,500 6,051 68,949 FirstFire Global September 1,2020 June 1, 2021 75,000 71,250 3,750 9,752 61,498 Power Up Lending October 8, 2020 October 8, 2021 55,000 55,000 - 7,421 47,579 East Capital October 9, 2020 October 9, 2021 62,700 62,700 - 7,708 54,992 $ 275,200 $ 263,950 $ 11,250 $ 30,932 $ 233,018 The following table summarizes the convertible note and derivative liability in the balance sheet at August 31, 2021: Balance, August 31, 2020 $ 438,921 Issuance of Convertible Note Principal $ 275,200 Issuance of MFN Principal $ 15,000 Discount on Note issuance, net of amortization $ 75,075 Accrued interest expense $ 24,562 Converted Note Principal $ ( 166,464 ) Converted accrued and unpaid interest $ ( 8,538 ) Prepayment of Note Principal $ ( 559,782 ) Paid interest expense $ ( 29,390 ) Change in fair value of Derivative liability $ ( 64,584 ) Balance, August 31, 2021 $ — The Company valued its derivatives liability using Monte Carlo simulation. Assumptions used as of August 31, 2021 include (1) risk-free interest rates of 0.06% 66.25% 66.3% 30% The Company recognizes gain due to convertible feature of $64,584 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) The Company prepaid nine convertible notes during the year ended August 31, 2021 as below: Convertible Notes Beginning Principal after Note Conversion Total Interest Accrued Paid Date Paid Principal Paid Interest Principal balance Outstanding Payment amount Loss from prepaid convertible note Crown Bridge (Tranche I) 1,082 2,641 12/9/20 ( 1,082 ) ( 2,641 ) - - - Crown Bridge (Tranche II) 40,500 1,545 12/9/20 ( 40,500 ) ( 1,545 ) - 72,500 1 ( 26,732 ) 1 EMA Financial 50,000 1,990 12/9/20 ( 50,000 ) ( 1,990 ) - 72,800 ( 20,810 ) Power Up Lending 130,000 6,491 1/22/21 ( 130,000 ) ( 6,491 ) - 190,925 ( 54,434 ) Power Up Lending 63,000 3,042 2/10/21 ( 63,000 ) ( 3,042 ) - 92,380 ( 26,338 ) East Capital 62,700 3,114 4/7/21 ( 62,700 ) ( 3,114 ) - 87,467 ( 21,652 ) Power Up Lending 55,000 2,746 4/7/21 ( 55,000 ) ( 2,746 ) - 80,797 ( 23,051 ) Jefferson Street 82,500 4,097 3/1/21 ( 82,500 ) ( 4,097 ) - 116,975 ( 30,378 ) FirstFire Global 75,000 3,724 3/1/21 ( 75,000 ) ( 3,724 ) - 108,125 ( 29,401 ) Total 559,782 29,390 - ( 559,782 ) ( 29,390 ) - 821,969 ( 232,796 ) 1. The Holders converted convertible notes to common shares during the year ended August 31, 2021 as below: EMA Financial: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 1, 2020 5,285 5,285 5,154 — 10,439 1,000 — $ 0.00812 1,408,800 Total 5,285 5,154 — 10,439 1,000 1,408,800 Auctus Capital Partners: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 33,295 12,055 73 — 12,128 750 21,240 $ 0.00510 2,525,000 September 18, 2020 21,240 15,233 58 — 15,291 750 6,007 $ 0.00510 3,145,300 September 29, 2020 6,007 6,007 18 11,082 17,107 750 — $ 0.00480 3,720,200 October 22, 2020 — — — 3,918 3,918 750 — $ 0.00216 2,161,240 Total 33,295 149 15,000 48,444 3,000 11,551,740 *On September 29, 2020, $6,007 17,107 $0.0048 60% $15,000 $0.1 $0 $15,000 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) East Capital: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 26,600 13,300 250 — 13,550 — 13,300 $ 0.01020 1,328,431 September 25, 2020 13,300 13,300 129 — 13,429 — — $ 0.00960 1,398,854 Total 26,600 379 — 26,979 — 2,727,285 Fidelis Capital: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 1, 2020 41,000 25,671 — — 25,671 — 15,329 $ 0.01218 2,107,648 September 9, 2020 15,329 15,329 2,605 — 17,934 — — $ 0.01020 1,758,257 Total 41,000 2,605 — 43,605 — 3,865,905 Armada Partners: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 25, 2020 25,500 13,000 213 — 13,213 500 12,500 $ 0.01020 1,344,363 October 6, 2020 12,500 12,500 38 — 12,538 500 — $ 0.00960 1,358,145 Total 25,500 251 — 25,751 1,000 2,702,508 Crown Bridge (Tranche I): Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 20,867 6,400 — — 6,400 1,250 14,467 $ 0.00765 1,000,000 September 22, 2020 14,467 5,635 — — 5,635 1,250 8,832 $ 0.00765 900,000 October 1, 2020 8,832 7,750 — — 7,750 1,250 1,082 $ 0.00720 1,250,000 Total 19,785 — 19,785 3,750 3,150,000 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 – CONVERTIBLE NOTES (Continued) In summary, the Company has either converted or prepaid all the outstanding convertible notes as of August 31, 2021. The below table lists conversions and prepayments during each quarter in fiscal 2021. Sr. No. Note Total convertible note issued Total principal converted as of 08/31/2020 Total principal converted as of 11/30/2020 Total principal paid off as of 2/28/2021 Total principal paid off as of 8/31/2021 Principal balance Outstanding as of 8/31/2021 1 EMA Financial 90,000 ( 84,716 ) ( 5,285 ) - - - 2 Peak One Opportunity 85,000 ( 85,000 ) - - - - 3 Auctus Fund Note 90,000 ( 41,705 ) ( 48,295 ) - - - 4 Crown Bridge (Tranche I) 40,500 ( 19,633 ) ( 19,785 ) ( 1,082 ) - - 5 East Capital 50,000 ( 23,400 ) ( 26,600 ) - - - 6 Fidelis Capital 50,000 ( 9,000 ) ( 41,000 ) - - - 7 Armada Partners 38,500 ( 13,000 ) ( 25,500 ) - - - 8 Crown Bridge (Tranche II) 40,500 - - ( 40,500 ) - - 9 EMA Financial (Issue Date: 7.17.2020) 50,000 - - ( 50,000 ) - - 10 Power Up Lending (Issue Date: 07.24.2020) 130,000 - - ( 130,000 ) - - 11 Power Up Lending (Issue Date: 08.18.2020) 63,000 - - ( 63,000 ) - - 12 East Capital (Issue Date: 10.09.2020) 62,700 - - - ( 62,700 ) - 13 Power Up Lending (Issue Date: 10.08.2020) 55,000 - - - ( 55,000 ) - 14 Jefferson Street (Issue Date: 09.01.2020) 82,500 - - - ( 82,500 ) - 15 FirstFire Global (Issue Date: 09.01.2020) 75,000 - - - ( 75,000 ) - Total 1,002,700 ( 276,454 ) ( 166,464 ) ( 284,582 ) ( 275,200 ) - As of August 31, 2021, all convertible notes were either converted or paid. No AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 10 _ WARRANTS
NOTE 10 – WARRANTS | 12 Months Ended |
Aug. 31, 2022 | |
Note 10 Warrants | |
NOTE 10 – WARRANTS | NOTE 10 – WARRANTS On December 9, 2019, January 8, 2020, January 17, 2020, March 12, 2020, and July 23, 2020 the Company issued warrants to EMA Financial, Peak One Opportunity, Crown Bridge, and Armada Partners in conjunction with their convertible notes (see Note 9). Classified as equity, these detachable warrants issued in a bundled transaction with convertible notes are accounted for separately as additional paid-in capital for the portion of the proceeds allocated to them. The allocation of the sales proceeds between the base instrument of convertible notes and the warrants are allocated based on the relative fair values of the base instrument of convertible notes and the warrants following the guidance in ASC 470-20-25-2. On July 30, 2020, the Company issued $750,000 24 The fair value of the stock warrants granted to EMA Financial was estimated at $106,540 $12 0.89% 0 4.89 58.11% The fair value of the stock warrants granted to Peak One was estimated at $39,515 $10 0.89% 0 4.78 57.51% $17,443 $12.5 0.89% 0 4.86 57.97% The fair value of the stock warrants granted to Armada was estimated at $12,341 $12.5 0.29% 0 4.78 61.54% The fair value of the stock warrants granted to Crown Bridge (Tranche II), issued on July 23, 2020 was estimated at $126,112 $0.00905 0.28% 0 4.90 55.33% The fair value of the stock warrants granted to Peak One, a standalone warrant issued on July 30, 2020 was estimated at $45,722 $0.1 0.27% 0 4.92 55.29% As of August 31, 2021, the Company exercised the following warrant shares to acquire common shares via cashless exercises as below: AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 10 – WARRANTS (Continued) Peak One warrant issued on December 9, 2019: Date of Exercise Anti Dilution Value of Warrant Shares Anti Dilution Base (Exercise) Price (B) Mkt Price (90 Day High Preceding Exercise date) (A) # of WTS Shares Elected for purchase (Y) Common Shares to be issued upon exercise (X) = Y(A-B)/A Cashless Payment July 20, 2020 $100,000 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 21, 2020 $92,489 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 23, 2020 $84,979 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 29, 2020 $77,468 $ 0.0300 $ 21.00 250,358 250,000 $7,511 August 4, 2020 $69,957 $ 0.0300 $ 21.00 250,358 250,000 $7,511 August 11, 2020 $62,446 $ 0.0300 $ 21.00 500,715 500,000 $15,021 August 21, 2020 $47,425 $ 0.0300 $ 21.00 500,715 500,000 $15,021 August 25, 2020 $32,403 $ 0.0205 $ 21.00 500,489 500,000 $10,260 August 31, 2020 $22,143 $ 0.0205 $ 21.00 500,489 500,000 $10,260 September 9, 2020 $11,883 $ 0.0205 $ 21.00 470,786 470,326 $9,651 Total 3,724,984 3,720,326 $ 97,768 Peak One warrant issued on July 30, 2020 Date of Exercise Anti Dilution Value of Warrant Shares Anti Dilution Base (Exercise) Price (B) Market Price (90 Day High Preceding Exercise date) (A) # of WTS Shares Elected for purchase (Y) Common Shares to be issued upon exercise (X) = Y(A-B)/A Cashless Payment October 8, 2020 $75,000 0.01672 $10.00 750,000 748,746 $12,540 December 21, 2020 $62,460 0.00609 $0.068 2,564,039 2,344,407 $15,615 December 28, 2020 $46,845 0.00609 $0.068 2,564,039 2,344,407 $15,615 January 6, 2021 $31,230 0.00609 $0.068 5,128,079 4,668,814 $31,230 Total 11,006,157 10,086,374 $75,000 EMA Financial warrant issued on January 17, 2020: Date of Exercise Anti Dilution Value of Warrant Shares Anti Dilution Base (Exercise) Price (B) Market Price (90 Day High Preceding Exercise date) (A) # of WTS Shares Elected for purchase (Y) Common Shares to be issued upon exercise (X) = Y(A-B)/A Cashless Payment September 8, 2020 $375,000 0.00812 $17.00 2,400,002 2,398,856 $19,488 September 14, 2020 $355,512 0.00812 $17.00 2,950,000 2,948,951 $23,954 September 22, 2020 $331,558 0.00812 $10.00 3,400,000 3,397,239 $27,608 September 25, 2020 $303,950 0.00812 $10.00 3,600,000 3,597,077 $29,232 October 1, 2020 $274,718 0.00812 $10.00 4,150,000 4,146,630 $33,698 October 12, 2020 $241,020 0.00812 $6.50 4,600,000 4,594,254 $37,352 October 19, 2020 $203,668 0.00812 $6.50 4,800,000 4,794,004 $38,976 October 29, 2020 $164,692 0.00812 $2.02 5,200,000 5,179,097 $42,224 November 5, 2020 $122,468 0.00812 $0.60 5,500,000 5,425,567 $44,660 November 11, 2020 $77,808 0.00812 $0.43 5,700,000 5,592,363 $46,284 November 20, 2020 $31,524 0.00812 $0.30 3,882,264 3,777,184 $31,524 Total 46,182,266 45,851,222 $375,000 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 10 – WARRANTS (Continued) On August 2, 2022, in connection with this Common stock purchase (See Note 13), Alumni Capital LP is also entitled to purchase up to 50,000,000 $0.02 5 years $234,000 $0.0048 2.85% 5 years $0.02 221.4% A summary of the status of the Company’s warrants as of August 31, 2022 is presented below. Number of warrants Original shares issued Anti-dilution Adjusted Warrants as of August 31, 2020 (1) (2) 793,920 68,163,661 Warrants granted during the year — — Exercised, forfeited or expired (3) ( 793,920 ) ( 68,163,661 ) Outstanding as of August 31, 2021 — — Warrants granted during the year 50,000,000 — Exercisable as of August 31, 2022 50,000,000 — (1) Exercise price is reduced to the latest base price. Base price is either the note conversion price or the share issuance price, which the Company used while the warrants were outstanding. (2) The number of shares is adjusted in accordance with the anti-dilution clause per the warrant agreement and equals the original number of warrant shares times the original exercise prices divided by base price. (3) • The Company canceled 9,720 warrant shares with Crown Bridge and 4,200 warrant shares with Armanda Partners in November, 2020. • Peak One Opportunities exercised 100% of 750,000 warrant shares issued on July 30, 2020. • EMA Financial exercised all 30,000 warrant shares issued on January 17, 2020. |
NOTE 11 _ FAIR VALUE MEASUREMEN
NOTE 11 – FAIR VALUE MEASUREMENTS | 12 Months Ended |
Aug. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
NOTE 11 – FAIR VALUE MEASUREMENTS | NOTE 11 – FAIR VALUE MEASUREMENTS The Company applies ASC 820, Fair Value Measurements and Disclosures ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Include other inputs that are directly or indirectly observable in the marketplace. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Derivative liabilities of conversion features in convertible notes are classified within Level 3. The Company estimated the fair values of these liabilities at August 31, 2021 by using Monte Carlo simulation based on the remaining contractual terms, risk-free interest rates, and expected volatility of the stock prices, etc. The assumptions used, including the market value of stock prices in the future and the expected volatilities, were subjective unobservable inputs. Liabilities measured at fair value on a recurring basis as of August 31, 2021 are summarized below: Fair value measurement using: Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs ( Level 2) Unobservable inputs ( Level 3) Total Fair value at August 31, 2022 and 2021 Derivative liabilities $ - $ - $ - $ - Derivative liabilities embedded in convertible notes Fair value at August 31, 2020 $ 64,584 Increase from note issuances 74,187 Decrease from note conversions ( 33,490 ) Changes in the fair value 58,090 Fair value at November 30, 2020 $ 163,371 Increase from note issuances — Decrease from note prepayment ( 136,321 ) Changes in the fair value 18,439 Fair value at February 28, 2021 $ 45,490 Decrease from note prepayment ( 45,490 ) Fair value at August 31, 2021 — No liabilities measured at fair value on a recurring basis as of and for the year ended August 31, 2022. |
NOTE 12 _ RELATED PARTY TRANSAC
NOTE 12 – RELATED PARTY TRANSACTIONS | 12 Months Ended |
Aug. 31, 2022 | |
Related Party Transactions [Abstract] | |
NOTE 12 – RELATED PARTY TRANSACTIONS | NOTE 12 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from stockholders 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 stockholders. Amounts due to stockholders 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. As of August 31, 2022, Chiyuan Deng, the Chief Executive Offer, and Jianli Deng, the Chief Financial Officer, as the Company’s stockholders, loaned $144,516 and $232,882 , respectively, to the Company for working capital purpose. $377,398 $2,347 Youall Perform Services Ltd, owned by Jianli Deng, the son of the Company’s Chief Executive Offer and the Company’s Chief Financial Officer, collects revenue from the performance matching platform “Ai Bian Quan Qiu” via a Wechat official account on behalf of the Company. Due to the COVID-19 impact, the Company ceased operation of the “Ai Bian Quan Qiu” platform in January, 2020. For the years ended August 31, 2022 and 2021, the Company had no revenue from this performance matching platform, respectively. The balance of related party receivable from Youall Perform Services Ltd was $0 $1,439 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 12 – RELATED PARTY TRANSACTIONS (Continued) In September 2019, the Company entered into an agreement with Youall Perform Services Ltd for two transactions. 1) The Company pays Youall Perform Services Ltd. 10% $128,000 $108,800 $108,800 $128,000 $108,800 $19,200 $19,200 The Company has entered into a patent license agreement with a related party Guangzhou Shengshituhua Film and Television Company Limited (“Licensor”) 100% owned by the Chief Executive Officer Chiyuan Deng. The agreement has a term of five years June 1, 2017 June 1, 2022 $500,000 20% $0 $25,600 The Company rented an office from Zestv Studios Limited, a Hong Kong entity 100% owned by the Chief Executive Officer Chiyuan Deng (See Note 7). For the years ended August 31, 2022 and 2021, the Company incurred related party office rent expense of $66,048 $66,048 $0 $16,512 On December 1, 2020, the Company entered an agreement with Zestv Studios Limited to grant Zestv Studios Limited the distribution right for the movie “Love over the world” and charge Zestv Studios Limited movie royalties. The Company’s royalty revenue is stipulated to equal 43% of the after-tax movie box office revenue deducting movie issuance costs. The movie box office revenue is tracked by a movie distributor Huaxia Film Distribution Co. Ltd (hereafter “Hua Xia”) in China as it connects with all movie theaters in China and can track the total movie box office revenue online in real time. Although Zestv Studios Limited has paid royalty revenue to the Company, Zestv Studios Limited failed to collect cash from Hua Xia. As of August 31, 2021, the Company had refund payable of $916,922 On June 23, 2022, the Company sold the mainland China copyright and broadcast right of the movie “Too Simple” to Zestv Studios Limited for a price of $750,000 During the year ended August 31, 2022, Zestv Studios Limited also loaned total of $273,913 As of August 31, 2022 and 2021, the Company had related party balance of $15,127 $933,434 On September 11, 2020 and May 24, 2022, the Company entered into two amended employment agreements with Chiyuan Deng, the Chief Executive Officer. Pursuant the amended agreements, the Company amended the compensation to Mr. Deng to include a salary of $180,000 annually, a reduction in common stock received under his initial employment agreement, a potential for a bonus in cash or shares, and the issuance of 100,000 shares of the newly created Series A Preferred Stock at par value $0.001 . Deng returned 266,667 shares common As stock-based compensation for annual bonus for calendar year of 2021, the Company issued 5,000,000 10,000,000 $0.0138 $393,165 $270,125 $154,473 $63,212 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 13 _ STOCKHOLDERS_ EQUITY
NOTE 13 – STOCKHOLDERS’ EQUITY | 12 Months Ended |
Aug. 31, 2022 | |
Equity [Abstract] | |
NOTE 13 – STOCKHOLDERS’ EQUITY | NOTE 13 – STOCKHOLDERS’ EQUITY The Company had the following equity activities during the year ended August 31, 2022: Common shares • The Company issued 2,500,000 and 3,000,000 shares of put shares to Peak One for cash at $0.02288 , and $0.02719 , respectively, per share during Q1 2022. • The Company issued 1,800,000 shares of common stock for cash at $0.01548 per share, and 3,000,000 shares of common stock for cash at $0.01716 per share, and 2,300,000 shares of common stock for cash at $0.01729 per share, and 2,300,000 shares of common stock for cash at $0.0110 per share to Peak One during Q2 2022. • As stock-based compensation for annual bonus for calendar year of 2021, the Company issued 5,000,000 shares restricted common stock to the Chief Investment Officer and 10,000,000 shares restricted common stock to the Chief Executive Officer which were valuated at market price $0.0138 per share in Q2 2022. • The Company issued 30,000,000 shares of restricted stock at market price $0.0138 per share to seven consultants for 6 months to 18 months consulting services of movies and NFT related business in Q2 2022. • The Company issued total 85,715,176 of common shares from preferred shares series C conversion during the year. • The Company issued total 12,307,672 of common shares from preferred shares series D conversion during the year. Common stock purchase agreement On August 2, 2022, the Company entered into a common stock purchase agreement with Alumni Capital LP, a Delaware limited partnership. Pursuant to the agreement, Alumni Capital LP shall purchase $1.0 million The purchase price is number of common stocks in a Purchase Notice issued by the Company multiplied by 75% of the lowest traded price of the Common Stock five Business Days prior to the Closing, which is no later than five business days after the Purchase Notice Date. The Company will use the proceeds from the sale of the common stocks for general corporate and working capital purposes and acquisitions or assets, businesses or operations or for other purposes that the Board of Directors, in good faith deem to be in the best interest of the Company. The registration of these securities was effective on September 13, 2022. Preferred shares On September 3, 2021, the Company entered into a securities purchase agreement with an accredited investor, whereby the investor purchased from the Company 234,300 $203,500 $184,000 On October 21, 2021, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 98,325 $85,450 $75,390 During the quarter ended November 30, 2021, the Company issued 153 $153,000 $140,760 On December 9, 2021, the Company issued 34 $34,000 $31,280 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 13 – STOCKHOLDERS’ EQUITY (Continued) On January 21, 2022, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 89,490 $78,035 $68,535 On March 16, 2022, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 96,075 $83,500 $73,600 On June 1, 2022, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 147,775 $128,500 $115,000 On July 19, 2022, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 92,000 $80,000 $70,380 The Company recorded dividend expenses of $36,952 $25,835 $141,945 The Company had the following equity activities during the year ended August 31, 2021: Common shares • The Company issued 19,000,000 shares of common stock for cash at $0.0140 per share and 4,000,000 shares of common stock for cash at $0.0715 per share. • The Company issued 25,406,238 shares of common stock from note conversion. Refer to Note 9 for further details. • The Company issued 56,407,922 shares of common stock from warrant exercises. Refer to Note 10 for further details. • 261,111 shares of common stock returned to the Company due to officer resignations. • The Company issued 31,646,633 shares of put shares for cash at $0.015312 , $0.014256 , $0.01452 , $0.077528 , $0.09856 , $0.11 , $0.0715 , $0.0563 , $0.0528 , $0.04875 , $0.05764 , and $0.0344 per share. • As stock-based compensation the Company issued 500,000 shares to the Chief Investment Offer and 1,000,000 shares to the Chief Executive Officer. • The Company issued 24,528,637 of common shares from preferred shares series C & D conversion. • The Company issued 17,700,000 shares of stock for consulting services. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 13 – STOCKHOLDERS’ EQUITY (Continued) Preferred shares The Company authorized 10,000,000 $0.001 100,000 $0.001 20,000 $16 280,025 19,322 7,140,360 798 6 17,388,277 Based upon the Series C Preferred Share purchase agreement, each share of Series C Preferred Stock carries an annual dividend in the amount of 12.0% 22.0% $16,801 $0 Based upon the Series D Preferred Share purchase agreement, each share of Series D Preferred Stock shall be entitled to receive, and the Corporation shall pay, cumulative dividends of 8.0% $9,034 $1,834 |
NOTE 14 _ INCOME TAXES
NOTE 14 – INCOME TAXES | 12 Months Ended |
Aug. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
NOTE 14 – INCOME TAXES | NOTE 14 – INCOME TAXES The Company has operations in the United States and Hong Kong, which is subject to a statutory income tax rate at 21% and 16.5%, respectively. Components of net deferred tax assets, including a valuation allowance, are as follows as of August 31, 2022 and 2021: August 31, 2022 August 31, 2021 Deferred tax asset attributable to: Net operating loss carry over $ 1,328,204 $ 871,681 Less: valuation allowance ( 1,328,204 ) ( 871,681 ) Net deferred tax asset $ — $ — The valuation allowance for deferred tax assets was $1,328,204 $871,681 Reconciliation between the statutory rate and the effective tax rate is as follows for the years ended August 31, 2022 and 2021: Years ended August 31, 2022 2021 Federal statutory tax rate 21 % 21 % Change in valuation allowance (21 %) (21 %) Effective tax rate 0 % 0 % The Company’s fully owned subsidiary App Board Limited registered and located in Hong Kong. It is governed by the income tax law of the Hong Kong and is subject to a tax rate of 16.5% During the years ended August 31, 2022 and 2021, both the Company and its subsidiary incurred net loss. As a result, the Company and its subsidiary did not incur any income tax during the years ended August 31, 2022 and 2021. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
NOTE 15 _ CONCENTRATION RISK
NOTE 15 – CONCENTRATION RISK | 12 Months Ended |
Aug. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
NOTE 15 – CONCENTRATION RISK | NOTE 15 – CONCENTRATION RISK Sales concentration 70% 26% 89% no Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD 500,000 (approximately $64,000 $70,602 $131,796 $250,000 $13,621 $0 |
NOTE 16 _ COMMITMENTS AND CONTI
NOTE 16 – COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Aug. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
NOTE 16 – COMMITMENTS AND CONTINGENCIES | NOTE 16 – COMMITMENTS AND CONTINGENCIES Contingencies From time to time, the Company may be involved in litigation relating to claims arising out of its operations in the normal course of business. There is no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of its operations and there are no proceedings in which any of the Company’s directors, officers, or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to the Company’s interest. Operating leases The Company has several lease agreements to rent office spaces and movie theatre with its related party and third-party vendors. (See Note 7) |
NOTE 17 _ SUBSEQUENT EVENTS
NOTE 17 – SUBSEQUENT EVENTS | 12 Months Ended |
Aug. 31, 2022 | |
Subsequent Events [Abstract] | |
NOTE 17 – SUBSEQUENT EVENTS | NOTE 17 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to November 30, 2022 to the date these financial statements were issued. Increasing authorized number of common shares On October 11, 2022, the Company filed amendment to Articles of Incorporation to increase the authorized number of common shares from 1,000,000,000 shares to 10,000,000,000 shares. This increasing of authorized number of common shares has been retroactively reflected in the consolidated financial statements and notes thereto. Common stock purchase Pursuant to the common stock purchase agreement sighed with Alumni Capital LP on August 2, 2022 (See Note 10), Alumni Capital LP paid $24,225 on September 28, 2022 as the proceeds to subscribe 17,000,000 common shares. On October 27, 2022, Alumni Capital LP paid additional $26,250 as the proceeds to subscribe 35,000,000 common shares. On November 2 and November 17, 2022, Alumni Capital LP further subscribed 50,000,000 and 48,000,000 common shares, and paid $37,500 and $36,000 as the proceeds, respectively. Issuance of Series C preferred stock On September 6, 2022, the Company entered into a securities purchase agreement with an accredited investor, whereby investor purchased from the Company 90,275 shares of Series C Convertible Preferred Stock of the Company for a gross proceed of $78,500. The Company intends to use the proceeds from the Preferred Stock for general working capital purposes. Conversion of Series C preferred stock to common stock Subsequent to the year ended August 31, 2022, the Company issued total 75,037,786 common shares for the conversion of total 96,075 Series C preferred stock. |
NOTE 2 _ SUMMARY OF SIGNIFICA_2
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and have been consistently applied. |
Principles of Consolidation | Principles of Consolidation The financial statements have been prepared on a consolidated basis, with the Company’s fully owned subsidiary App Board Limited and AB Cinemas NY, Inc. All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) |
Foreign Currency Transactions | Foreign Currency Transactions The financial risk arises from the fluctuations in foreign exchange rates and the degrees of volatility in these rates. Currently the Company does not use derivative instruments to reduce its exposure to foreign currency risk. Gains and losses from transactions of foreign currency into U.S. dollars are included in current results of operations. |
Prepayments | Prepayments Prepayments primarily consist of O TC market annual fee and payments made to acquire the copyrights and distribution rights of movies, TV shows and music, etc. Prepayments are classified as either current or non-current based on the nature and the terms of the respective agreements. These prepayments are unsecured and are reviewed periodically to determine whether their carrying value has become impaired. The allowance is also based on management’s best estimate of specific losses on individual exposures, as well as a provision on historical trends of collections and utilizations. Actual amounts received or utilized may differ from management’s estimate of credit worthiness and the economic environment. Prepayments are written off against the allowances only after exhaustive collection efforts. No allowance was recorded for the years ended August 31, 2022 and 2021. |
Property and Equipment, net | Property and Equipment, net Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Leasehold improvement is related to the enhancements paid by the Company to leased offices. Leasehold improvement represents capital expenditures for direct costs of renovation or acquisition and design fees incurred. The amortization of leasehold improvements commences once the renovation is completed and ready for the Company’s intended use. The straight-line depreciation method is used to compute depreciation over the estimated useful lives of the assets, as follows: Estimated Useful Life Furniture 7 Appliances 5 Leasehold improvement Lesser of useful life and lease term Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterments that substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations in other income or expenses. |
Intangible Assets | Intangible Assets Intangible assets are recorded at the lower of cost or amortized cost or estimated fair value and amortized as follows: • Movie copyrights and broadcast rights: straight-line method over the estimated life of the asset, which has been determined by management to be 2 years • Patent: straight-line method over the term of 5 years based on the patent license agreement • NFT MMM platform: straight-line method over the estimated life of the asset, which has been determined by management to be 2 years Amortized costs of the intangible asset are recorded as cost of sales, as the intangible assets are directly related to generation of revenues in the Company. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) |
Lease property under operating lease | Lease property under operating lease The Company adopted ASU No. 2016-02—Leases (Topic 842) since June 1, 2019, using a modified retrospective transition method permitted under ASU No. 2018-11. This transition approach provides a method for recording existing leases only at the date of adoption and does not require previously reported balances to be adjusted. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to carry forward the historical lease classification. Adoption of the new standard resulted in the recording of additional lease assets and lease liabilities on the consolidated balance sheets. The standard did not materially impact the Company’s consolidated net earnings and cash flows. |
Impairment of Long-lived asset | Impairment of Long-lived asset The Company evaluates its long-lived assets or asset group, including intangible assets with indefinite and finite lives, for impairment. Intangible assets with indefinite lives that are not subject to amortization are tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the assets might be impaired in accordance with ASC 350. Such impairment test compares the fair values of assets with their carrying values with an impairment loss recognized when the carrying values exceed fair values. For long-lived assets and intangible assets with finite lives that are subject to depreciation and amortization are tested for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset or a group of long-lived assets may not be recoverable. When these events occur, the Company evaluates impairment by comparing the carrying amount of the assets to future undiscounted net cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Company would recognize an impairment loss based on the excess of the carrying amount of the asset group over its fair value. Impairment losses are included in the general and administrative expense. There was no |
Revenue Recognition | Revenue Recognition The Company adopted ASC Topic 606, “Revenue from Contracts with Customers”, To determine revenue recognition for contracts with customers, the Company performs the following five steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not The Company derives its revenues primarily from three sources: (1) sub-licensing a patent ; (2) selling copyrights of movies or TV shows; (3) licensing NFT MMM platform and providing technical service. Revenue from sub-licensing a patent: The sub-licensing revenue is recognized monthly based upon the number of users who download the APP that utilizes the Company’s patent. In January, 2021, the sublicensing agreement with Anyone Picture was terminated. As such, there has been no revenues generated from sub-licensing since the end of December, 2020. Once the Company finds another company to sublicense the patent, it will generate royalty revenue again. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Revenue Recognition (continued) Revenue from selling copyrights of movies or TV shows: The Company recognizes revenue when master copy of movie or TV show is delivered, the IP is authorized and transferred to customers. The Company’s contracts with customer are primarily on a fixed-price basis and do not contain cancelable and refund-type provisions. Revenue from licensing NFT MMM platform and providing technical service fee: The Company derives revenue from NFTMM platform license fees, which includes accessing the NFTMM platform and platform data on both app and website. The Company's contract has one year term, and is non-cancelable and non-refundable. In accordance with ASC 606, a 'right to access' license is recognized over the license period. Initial technical service fee comprises of installation, implementation and necessary training required by the customer. These services fees are recognized as the services are delivered at a point in time. Contract Assets and Liabilities Payment terms are established on the Company’s pre-established credit requirements based upon an evaluation of customers’ credit quality. Contact assets are recognized for in related accounts receivable. Contract liabilities are recognized for contracts where payment has been received in advance of delivery. The contract liability balance can vary significantly depending on the timing of when an order is placed and when shipment or delivery occurs. As of August 31, 2022 and 2021, other than deferred revenue, the Company had no material contract assets, contract liabilities or deferred contract costs recorded on its consolidated balance sheets. Disaggregation of Revenues The Company disaggregates its revenue from contracts by product and service types, as the Company believes it best depicts how the nature, amount, timing and uncertainty of the revenue and cash flows are affected by economic factors. The Company’s disaggregation of revenues for the years ended August 31, 2022 and 2021 are as follows: For the year ended For the year ended Sub-licensing a patent $ — $ 115,091 Selling of copyrights of movies and TV shows 2,806,000 — licensing NFT MMM platform 122,000 — Total revenue $ 2,928,000 $ 115,091 AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 820, “Fair Value Measurements” (ASC 820) and ASC 825, “Financial Instruments” (ASC 825), requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 – Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 – Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The carrying values of cash, accounts payable, and accrued liabilities approximate fair value due to their short-term nature. The fair values of warrant liabilities and derivative liabilities embedded in convertible notes are determined by level 3 inputs. |
Accounting for Derivative Instruments | Accounting for Derivative Instruments The Company accounts for derivative instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (ASC 815) and all derivative instruments are reflected as either assets or liabilities at fair value in the balance sheet. The Company uses estimates of fair value to value its derivative instruments. Fair value is defined as the price to sell an asset or transfer a liability in an orderly transaction between willing and able market participants. In general, the Company's policy in estimating fair values is to first look at observable market prices for identical assets and liabilities in active markets, where available. When these are not available, other inputs are used to model fair value such as prices of similar instruments, yield curves, volatilities, prepayment speeds, default rates and credit spreads (including for the Company's liabilities), relying first on observable data from active markets. Additional adjustments may be made for factors including liquidity, credit, bid/offer spreads, etc., depending on current market conditions. Transaction costs are not included in the determination of fair value. When possible, the Company seeks to validate the model's output to market transactions. Depending on the availability of observable inputs and prices, different valuation models could produce materially different fair value estimates. The values presented may not represent future fair values and may not be realizable. The Company categorizes its fair value estimates in accordance with ASC 820 based on the hierarchical framework associated with the three levels of price transparency utilized in measuring financial instruments at fair value as discussed above. Changes in fair value are recognized in the period incurred as either gains or losses. |
Warrants | Warrants Warrants are classified as equity and the proceeds from issuing warrants in conjunction with convertible notes are allocated based on the relative fair values of the base instrument of convertible notes and the warrants by following the guidance of ASC 470-20-25-2 . Proceeds from the sale of a debt instrument with stock purchase warrants (detachable call options) shall be allocated to the two elements based on the relative fair values of the debt instrument without the warrants and of the warrants themselves at time of issuance. The portion of the proceeds so allocated to the warrants shall be accounted for as paid-in capital. The remainder of the proceeds shall be allocated to the debt instrument portion of the transaction. This usually results in a discount (or, occasionally, a reduced premium), which shall be accounted for as interest expense under Topic 835 Interest. AB INTERNATIONAL GROUP CORP. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) |
Income Taxes | Income Taxes The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. Income taxes are accounted for using the asset and liability approach. Under this approach, income tax expense is recognized for the amount of taxes payable or refundable for the current year. Deferred income taxes assets and liabilities are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. |
Basic and Diluted Earning (Loss) Per Share | Basic and Diluted Earning (Loss) Per Share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income (loss) divided by the weighted average common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. |
Share-Based Compensation | Share-Based Compensation The Company follows the provisions of ASC 718, “Compensation - Stock Compensation,” which establishes the accounting for employee share-based awards. For employee share-based awards, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense with graded vesting on a straight-line basis over the requisite service period for the entire award. |
Reclassification | Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, “‘Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (“ASU 2021-08”). This ASU requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The amendments are effective for the Company beginning after December 15, 2023, and are applied prospectively to business combinations that occur after the effective date. The Company does not expect the adoption of ASU 2021-04 to have a material effect on the consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of operations and statements of cash flows. |
NOTE 2 _ SUMMARY OF SIGNIFICA_3
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Life | Estimated Useful Life Furniture 7 Appliances 5 Leasehold improvement Lesser of useful life and lease term |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Dissaggregation of Revenues (Details | For the year ended For the year ended Sub-licensing a patent $ — $ 115,091 Selling of copyrights of movies and TV shows 2,806,000 — licensing NFT MMM platform 122,000 — Total revenue $ 2,928,000 $ 115,091 |
NOTE 5 _ PROPERTY AND EQUIPME_2
NOTE 5 – PROPERTY AND EQUIPMENT (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
NOTE 5 - PROPERTY AND EQUIPMENT - Leasehold Improvement | August 31, 2022 August 31, 2021 Leasehold improvement $ 146,304 $ 146,304 Appliances and furniture 25,974 25,974 Total cost 172,278 172,278 Accumulated depreciation ( 159,583 ) ( 118,573 ) Property and equipment, net $ 12,695 $ 53,705 |
NOTE 6 _ INTANGIBLE ASSETS (Tab
NOTE 6 – INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
NOTE 6 - INTANGIBLE ASSETS | August 31, 2022 August 31, 2021 Patent license right $ — $ 500,000 Movie copyrights - Love over the world 853,333 853,333 Sitcom copyrights - Chujian 640,000 640,000 Movie copyrights - A story as a picture 422,400 422,400 Movie copyrights - Our treasures 936,960 936,960 Movie broadcast right- On the way 256,000 — Movie copyrights - Too simple 1,271,265 — Movie copyrights - Confusion 1,024,000 — TV drama copyright - 15 episodes 190,000 — Movie and TV series broadcast rights 2,439,840 2,439,840 NFT MMM platform 280,000 — Total cost 8,313,798 5,792,533 Accumulated amortization (4,515,516 ) (1,793,728 ) Intangible assets, net $ 3,798,282 $ 3,998,805 |
NOTE 6 - INTANGIBLE ASSETS - Estimated Amortization Expense | Twelve months ending August 31, Amortization expense 2023 $ 2,788,171 2024 1,010,111 Total $ 3,798,282 |
NOTE 7 _ LEASES (Tables)
NOTE 7 – LEASES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Leases [Abstract] | |
NOTE 7 - LEASES - Rights-to-use Lease Assets | August 31, 2022 August 31, 2021 Right-of-use assets, net $ 1,004,018 $ 47,827 Operating lease liabilities - current $ 229,813 $ 48,226 Operating lease liabilities - non-current 863,145 — Total operating lease liabilities $ 1,092,958 $ 48,226 |
NOTE 7 - LEASES - Future Lease Payments | Twelve months ending August 31, 2023 $ 238,443 2024 260,396 2025 250,555 2026 255,412 2027 107,275 Total future minimum lease payments 1,112,081 Less: imputed interest ( 19,123 ) Total $ 1,092,958 |
NOTE 8 _ PURCHASE DEPOSITS FO_2
NOTE 8 – PURCHASE DEPOSITS FOR INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
NOTE 8 - PURCHASE DEPOSITS FOR INTANGIBLE ASSETS - Movie Copyrights and Broadcast Rights Pre-Payments | August 31, 2022 August 31, 2021 Purchase deposit for movie – On the way $ — $ 256,000 Purchase deposit for movie – Confusion — 505,600 Purchase deposit for 25-episode TV drama 525,000 — Purchase deposit for five movies 356,724 — Total purchase deposits for intangible assets $ 881,724 $ 761,600 |
NOTE 9 _ CONVERTIBLE NOTES (Tab
NOTE 9 – CONVERTIBLE NOTES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
NOTE 9 - CONVERTIBLE NOTES - Summary of Convertible Notes | Counterparties Issuance date Maturity Date Principal Amount Purchase Price Discount on Note issuance Note issuance costs Proceeds Received (USD) Jefferson Street Capital September 1,2020 September 1, 2021 82,500 75,000 7,500 6,051 68,949 FirstFire Global September 1,2020 June 1, 2021 75,000 71,250 3,750 9,752 61,498 Power Up Lending October 8, 2020 October 8, 2021 55,000 55,000 - 7,421 47,579 East Capital October 9, 2020 October 9, 2021 62,700 62,700 - 7,708 54,992 $ 275,200 $ 263,950 $ 11,250 $ 30,932 $ 233,018 |
NOTE 9 - CONVERTIBLE NOTES PAYABLE - Derivative Liability | Balance, August 31, 2020 $ 438,921 Issuance of Convertible Note Principal $ 275,200 Issuance of MFN Principal $ 15,000 Discount on Note issuance, net of amortization $ 75,075 Accrued interest expense $ 24,562 Converted Note Principal $ ( 166,464 ) Converted accrued and unpaid interest $ ( 8,538 ) Prepayment of Note Principal $ ( 559,782 ) Paid interest expense $ ( 29,390 ) Change in fair value of Derivative liability $ ( 64,584 ) Balance, August 31, 2021 $ — |
NOTE 9 - CONVERTIBLE NOTES - Summary of Prepaid Convertible Notes | Convertible Notes Beginning Principal after Note Conversion Total Interest Accrued Paid Date Paid Principal Paid Interest Principal balance Outstanding Payment amount Loss from prepaid convertible note Crown Bridge (Tranche I) 1,082 2,641 12/9/20 ( 1,082 ) ( 2,641 ) - - - Crown Bridge (Tranche II) 40,500 1,545 12/9/20 ( 40,500 ) ( 1,545 ) - 72,500 1 ( 26,732 ) 1 EMA Financial 50,000 1,990 12/9/20 ( 50,000 ) ( 1,990 ) - 72,800 ( 20,810 ) Power Up Lending 130,000 6,491 1/22/21 ( 130,000 ) ( 6,491 ) - 190,925 ( 54,434 ) Power Up Lending 63,000 3,042 2/10/21 ( 63,000 ) ( 3,042 ) - 92,380 ( 26,338 ) East Capital 62,700 3,114 4/7/21 ( 62,700 ) ( 3,114 ) - 87,467 ( 21,652 ) Power Up Lending 55,000 2,746 4/7/21 ( 55,000 ) ( 2,746 ) - 80,797 ( 23,051 ) Jefferson Street 82,500 4,097 3/1/21 ( 82,500 ) ( 4,097 ) - 116,975 ( 30,378 ) FirstFire Global 75,000 3,724 3/1/21 ( 75,000 ) ( 3,724 ) - 108,125 ( 29,401 ) Total 559,782 29,390 - ( 559,782 ) ( 29,390 ) - 821,969 ( 232,796 ) |
Schedule of Debt Conversions [Table Text Block] | Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 1, 2020 5,285 5,285 5,154 — 10,439 1,000 — $ 0.00812 1,408,800 Total 5,285 5,154 — 10,439 1,000 1,408,800 Auctus Capital Partners: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 33,295 12,055 73 — 12,128 750 21,240 $ 0.00510 2,525,000 September 18, 2020 21,240 15,233 58 — 15,291 750 6,007 $ 0.00510 3,145,300 September 29, 2020 6,007 6,007 18 11,082 17,107 750 — $ 0.00480 3,720,200 October 22, 2020 — — — 3,918 3,918 750 — $ 0.00216 2,161,240 Total 33,295 149 15,000 48,444 3,000 11,551,740 |
[custom:ScheduleOfDebtConversionsContinuedTextBlock] | Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 26,600 13,300 250 — 13,550 — 13,300 $ 0.01020 1,328,431 September 25, 2020 13,300 13,300 129 — 13,429 — — $ 0.00960 1,398,854 Total 26,600 379 — 26,979 — 2,727,285 Fidelis Capital: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 1, 2020 41,000 25,671 — — 25,671 — 15,329 $ 0.01218 2,107,648 September 9, 2020 15,329 15,329 2,605 — 17,934 — — $ 0.01020 1,758,257 Total 41,000 2,605 — 43,605 — 3,865,905 Armada Partners: Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 25, 2020 25,500 13,000 213 — 13,213 500 12,500 $ 0.01020 1,344,363 October 6, 2020 12,500 12,500 38 — 12,538 500 — $ 0.00960 1,358,145 Total 25,500 251 — 25,751 1,000 2,702,508 Crown Bridge (Tranche I): Conversion date Beginning principal balance Principal Amount Converted Interest Amount Converted MFN Principal Total converted principals and unpaid interest Closing Ending principal balance Conversion Price Converted September 8, 2020 20,867 6,400 — — 6,400 1,250 14,467 $ 0.00765 1,000,000 September 22, 2020 14,467 5,635 — — 5,635 1,250 8,832 $ 0.00765 900,000 October 1, 2020 8,832 7,750 — — 7,750 1,250 1,082 $ 0.00720 1,250,000 Total 19,785 — 19,785 3,750 3,150,000 |
NOTE 9 - CONVERTIBLE NOTES - Summary of Converted and Prepaid Convertible Notes | Sr. No. Note Total convertible note issued Total principal converted as of 08/31/2020 Total principal converted as of 11/30/2020 Total principal paid off as of 2/28/2021 Total principal paid off as of 8/31/2021 Principal balance Outstanding as of 8/31/2021 1 EMA Financial 90,000 ( 84,716 ) ( 5,285 ) - - - 2 Peak One Opportunity 85,000 ( 85,000 ) - - - - 3 Auctus Fund Note 90,000 ( 41,705 ) ( 48,295 ) - - - 4 Crown Bridge (Tranche I) 40,500 ( 19,633 ) ( 19,785 ) ( 1,082 ) - - 5 East Capital 50,000 ( 23,400 ) ( 26,600 ) - - - 6 Fidelis Capital 50,000 ( 9,000 ) ( 41,000 ) - - - 7 Armada Partners 38,500 ( 13,000 ) ( 25,500 ) - - - 8 Crown Bridge (Tranche II) 40,500 - - ( 40,500 ) - - 9 EMA Financial (Issue Date: 7.17.2020) 50,000 - - ( 50,000 ) - - 10 Power Up Lending (Issue Date: 07.24.2020) 130,000 - - ( 130,000 ) - - 11 Power Up Lending (Issue Date: 08.18.2020) 63,000 - - ( 63,000 ) - - 12 East Capital (Issue Date: 10.09.2020) 62,700 - - - ( 62,700 ) - 13 Power Up Lending (Issue Date: 10.08.2020) 55,000 - - - ( 55,000 ) - 14 Jefferson Street (Issue Date: 09.01.2020) 82,500 - - - ( 82,500 ) - 15 FirstFire Global (Issue Date: 09.01.2020) 75,000 - - - ( 75,000 ) - Total 1,002,700 ( 276,454 ) ( 166,464 ) ( 284,582 ) ( 275,200 ) - |
NOTE 10 _ WARRANTS (Tables)
NOTE 10 – WARRANTS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Note 10 Warrants | |
NOTE 10 - WARRANTS - Summary of Warrants | Date of Exercise Anti Dilution Value of Warrant Shares Anti Dilution Base (Exercise) Price (B) Mkt Price (90 Day High Preceding Exercise date) (A) # of WTS Shares Elected for purchase (Y) Common Shares to be issued upon exercise (X) = Y(A-B)/A Cashless Payment July 20, 2020 $100,000 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 21, 2020 $92,489 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 23, 2020 $84,979 $ 0.0300 $ 21.00 250,358 250,000 $7,511 July 29, 2020 $77,468 $ 0.0300 $ 21.00 250,358 250,000 $7,511 August 4, 2020 $69,957 $ 0.0300 $ 21.00 250,358 250,000 $7,511 August 11, 2020 $62,446 $ 0.0300 $ 21.00 500,715 500,000 $15,021 August 21, 2020 $47,425 $ 0.0300 $ 21.00 500,715 500,000 $15,021 August 25, 2020 $32,403 $ 0.0205 $ 21.00 500,489 500,000 $10,260 August 31, 2020 $22,143 $ 0.0205 $ 21.00 500,489 500,000 $10,260 September 9, 2020 $11,883 $ 0.0205 $ 21.00 470,786 470,326 $9,651 Total 3,724,984 3,720,326 $ 97,768 |
NOTE 10 - WARRANTS - Schedule of Warrant Summary | Number of warrants Original shares issued Anti-dilution Adjusted Warrants as of August 31, 2020 (1) (2) 793,920 68,163,661 Warrants granted during the year — — Exercised, forfeited or expired (3) ( 793,920 ) ( 68,163,661 ) Outstanding as of August 31, 2021 — — Warrants granted during the year 50,000,000 — Exercisable as of August 31, 2022 50,000,000 — |
NOTE 11 _ FAIR VALUE MEASUREM_2
NOTE 11 – FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
NOTE 11 - FAIR VALUE MEASUREMENTS - Measured on a Recurring Basis | Fair value measurement using: Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs ( Level 2) Unobservable inputs ( Level 3) Total Fair value at August 31, 2022 and 2021 Derivative liabilities $ - $ - $ - $ - |
NOTE 11 - FAIR VALUE MEASUREMENTS - Schedule of Fair Value Summary | Derivative liabilities embedded in convertible notes Fair value at August 31, 2020 $ 64,584 Increase from note issuances 74,187 Decrease from note conversions ( 33,490 ) Changes in the fair value 58,090 Fair value at November 30, 2020 $ 163,371 Increase from note issuances — Decrease from note prepayment ( 136,321 ) Changes in the fair value 18,439 Fair value at February 28, 2021 $ 45,490 Decrease from note prepayment ( 45,490 ) Fair value at August 31, 2021 — |
NOTE 14 _ INCOME TAXES (Tables)
NOTE 14 – INCOME TAXES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
NOTE 14 - INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities | August 31, 2022 August 31, 2021 Deferred tax asset attributable to: Net operating loss carry over $ 1,328,204 $ 871,681 Less: valuation allowance ( 1,328,204 ) ( 871,681 ) Net deferred tax asset $ — $ — |
NOTE 14 - INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation | Years ended August 31, 2022 2021 Federal statutory tax rate 21 % 21 % Change in valuation allowance (21 %) (21 %) Effective tax rate 0 % 0 % |
NOTE 1 _ ORGANIZATION AND BUS_2
NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS (Details Narrative) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
Entity Incorporation, Date of Incorporation | Jul. 29, 2013 |
NOTE 2 - SUMMARY OF SIGNIFICANT
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Life (Details) | 12 Months Ended |
Aug. 31, 2022 | |
Total Cost | |
Finite-Lived Intangible Assets [Line Items] | |
Property, Plant and Equipment, Useful Life | 7 years |
Appliances [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Property, Plant and Equipment, Useful Life | 5 years |
Copyrights [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Assets, Amortization Method | straight-line method |
Finite-Lived Intangible Asset, Useful Life | 2 years |
Patent [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Assets, Amortization Method | straight-line method |
Finite-Lived Intangible Asset, Useful Life | 5 years |
N F T Platform [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-Lived Intangible Assets, Amortization Method | straight-line method |
Finite-Lived Intangible Asset, Useful Life | 2 years |
NOTE 2 - SUMMARY OF SIGNIFICA_2
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Dissaggregation of Revenues (Details - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Total revenue | $ 2,928,000 | $ 115,091 |
Sublicensing A Patent [Member] | ||
Total revenue | 115,091 | |
Selling Copyrights Of Movies And T V [Member] | ||
Total revenue | 2,806,000 | |
Licensing N F T Platform [Member] | ||
Total revenue | $ 122,000 |
NOTE 2 _ SUMMARY OF SIGNIFICA_4
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 12 Months Ended |
Aug. 31, 2021 USD ($) | |
Accounting Policies [Abstract] | |
Accounts Receivable, Allowance for Credit Loss, Writeoff | $ 0 |
Impairment of Intangible Assets, Finite-Lived | $ 0 |
NOTE 3 _ GOING CONCERN (Details
NOTE 3 – GOING CONCERN (Details Narrative) | 12 Months Ended |
Aug. 31, 2022 USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
[custom:RetainedEarningsAccumulatedDeficitEstimated-0] | $ 8.8 |
Banking Regulation, Total Capital, Actual | 856,866 |
[custom:NetIncomeLossEstimated] | 2.2 |
[custom:NetCashUsedInOperationsApproximate] | $ 1.5 |
NOTE 4 _ SUBSCRIPTION RECEIVA_2
NOTE 4 – SUBSCRIPTION RECEIVABLE (Details Narrative) | 12 Months Ended |
Aug. 31, 2021 USD ($) shares | |
Financing Receivable, after Allowance for Credit Loss | $ | $ 87,239 |
Put Shares [Member] | |
Debt Conversion, Converted Instrument, Shares Issued | shares | 3 |
NOTE 5 - PROPERTY AND EQUIPMENT
NOTE 5 - PROPERTY AND EQUIPMENT - Leasehold Improvement (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Net | $ 12,695 | $ 53,705 |
Renovation Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Leasehold Improvements, Gross | 146,304 | 146,304 |
Furniture and Fixtures, Gross | 25,974 | 25,974 |
Property, Plant, and Equipment, Owned, Gross | 172,278 | 172,278 |
Property, Plant, and Equipment, Lessor Asset under Operating Lease, Accumulated Depreciation | 159,583 | 118,573 |
Property, Plant and Equipment, Net | $ 12,695 | $ 53,705 |
NOTE 5 _ PROPERTY AND EQUIPME_3
NOTE 5 – PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 41,010 | $ 53,048 |
NOTE 6 - INTANGIBLE ASSETS (Det
NOTE 6 - INTANGIBLE ASSETS (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Total cost | $ 8,313,798 | $ 5,792,533 |
Accumulated amortization | 4,515,516 | 1,793,728 |
Intangible assets, net | 3,798,282 | 3,998,805 |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 500,000 | |
Movie Copyright Love Over World [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 853,333 | 853,333 |
Movie Copyright Chujian [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 640,000 | 640,000 |
Movie Copyright A Story Of A Picture [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 422,400 | 422,400 |
Movie Copyright Our Treasures [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 936,960 | 936,960 |
Movie Copyright On The Way [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 256,000 | |
Movie Copyright Too Simple [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 1,271,265 | |
Movie Copyright Confusion [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 1,024,000 | |
Movie Copyright T V Drama [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 190,000 | |
Movie And T V Broadcast [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 2,439,840 | 2,439,840 |
N F T Platform [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 280,000 |
NOTE 6 - INTANGIBLE ASSETS - Es
NOTE 6 - INTANGIBLE ASSETS - Estimated Amortization Expense (Details) | Aug. 31, 2022 USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Rolling 12 Months | $ 2,788,171 |
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Two | 1,010,111 |
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Three | $ 3,798,282 |
NOTE 6 _ INTANGIBLE ASSETS (Det
NOTE 6 – INTANGIBLE ASSETS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
Jun. 23, 2022 | May 03, 2022 | May 02, 2022 | Jan. 24, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 20, 2022 | Aug. 06, 2022 | |
Finite-Lived Intangible Assets [Line Items] | ||||||||
Accrued Fees and Other Revenue Receivable | $ 644,785 | |||||||
Amortization of Intangible Assets | 3,221,789 | 1,468,728 | ||||||
N F T M M M M Monthly [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Sales-type Lease, Lease Receivable | $ 60,000 | |||||||
N F T M M M [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Accrued Professional Fees, Current | $ 100,000 | |||||||
Movie Copyright Too Simple [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Finite-Lived Intangible Assets, Gross | 1,271,265 | |||||||
Accrued Fees and Other Revenue Receivable | 644,785 | |||||||
Proceeds from Sale of Intangible Assets | $ 750,000 | |||||||
Three Movie Copyright Sales [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Proceeds from Sale of Intangible Assets | $ 1,800,000 | |||||||
Movie Copyright A Story As A Picture [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Proceeds from Sale of Intangible Assets | $ 128,000 | |||||||
Movie Copyright On The Way [Member] | ||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||
Finite-Lived Intangible Assets, Gross | $ 256,000 | |||||||
Proceeds from Sale of Intangible Assets | $ 128,000 |
NOTE 7 - LEASES - Rights-to-use
NOTE 7 - LEASES - Rights-to-use Lease Assets (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Leases [Abstract] | ||
Right-of-use assets, net | $ 1,004,018 | $ 47,827 |
Operating lease liabilities - current | 229,813 | 48,226 |
Operating lease liabilities - non-current | 863,145 | |
Total operating lease liabilities | $ 1,092,958 | $ 48,226 |
NOTE 7 - LEASES - Future Lease
NOTE 7 - LEASES - Future Lease Payments (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Leases [Abstract] | ||
Operating Leases, Future Minimum Payments, Next Rolling 12 Months | $ 238,443 | |
Operating Leases, Future Minimum Payments, Due in Rolling Year Two | 260,396 | |
Operating Leases, Future Minimum Payments, Due in Rolling Year Three | 250,555 | |
Operating Leases, Future Minimum Payments, Due in Rolling Year Four | 255,412 | |
Operating Leases, Future Minimum Payments, Due in Rolling Year Five | 107,275 | |
Lessee, Operating Lease, Liability, to be Paid | 1,112,081 | |
Receivable with Imputed Interest, Discount | 19,123 | |
Operating Lease, Liability | $ 1,092,958 | $ 48,226 |
NOTE 7 _ LEASES (Details Narrat
NOTE 7 – LEASES (Details Narrative) - USD ($) | 12 Months Ended | ||||||
Aug. 31, 2022 | Aug. 31, 2021 | May 01, 2022 | Oct. 21, 2021 | Sep. 01, 2021 | Apr. 13, 2021 | May 01, 2019 | |
Other Commitments [Line Items] | |||||||
Accrued Rent, Current | $ 229,813 | $ 48,226 | |||||
Operating Leases, Rent Expense, Net | $ 289,411 | 94,570 | |||||
Operating Lease, Weighted Average Remaining Lease Term | 4 years 135 days 1 hour 12 minutes | ||||||
Hong Kong Lease [Member] | |||||||
Other Commitments [Line Items] | |||||||
Lessee, Operating Lease, Term of Contract | 2 years | 3 years | |||||
Operating Leases, Future Minimum Payments Due, Next 12 Months | $ 66,048 | $ 66,048 | |||||
Operating Leases, Rent Expense, Net | $ 66,048 | $ 66,048 | |||||
Singapore Office [Member] | |||||||
Other Commitments [Line Items] | |||||||
Accrued Rent, Current | $ 716 | ||||||
New York Lease [Member] | |||||||
Other Commitments [Line Items] | |||||||
Lessee, Operating Lease, Term of Contract | 1 year | ||||||
Operating Leases, Future Minimum Payments Due, Next 12 Months | $ 20,400 | ||||||
Kisco Theatre [Member] | |||||||
Other Commitments [Line Items] | |||||||
Lessee, Operating Lease, Term of Contract | 5 years | ||||||
Accrued Rent, Current | $ 14,366 |
NOTE 8 - PURCHASE DEPOSITS FOR
NOTE 8 - PURCHASE DEPOSITS FOR INTANGIBLE ASSETS - Movie Copyrights and Broadcast Rights Pre-Payments (Details) - USD ($) | 12 Months Ended | |||
Aug. 31, 2022 | Aug. 31, 2021 | Mar. 31, 2022 | Nov. 30, 2019 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | $ 881,724 | $ 761,600 | ||
T V Drama Series Copyright [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | 525,000 | |||
Asset Acquisition, Contingent Consideration, Liability | $ 5,253,000 | |||
Five Movies Copyright [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | 356,724 | |||
Asset Acquisition, Contingent Consideration, Liability | $ 1,500,000 | |||
Asset Acquisition, Consideration Transferred | 356,724 | |||
Total Copyright Prepayment [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | 881,724 | 761,600 | ||
On The Way Copyright [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Acquisition, Contingent Consideration, Liability | $ 256,000 | |||
Movie Copyright On The Way [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | 256,000 | |||
Movie Copyright Confusion [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Prepaid Expense and Other Assets | 505,600 | |||
Asset Acquisition, Contingent Consideration, Liability | 1,024,000 | |||
Asset Acquisition, Consideration Transferred | $ 505,600 | |||
Movie Copyright Confusion Online [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Acquisition, Contingent Consideration, Liability | 115,200 | |||
Movie Copyright Confusion Mainland China [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Acquisition, Contingent Consideration, Liability | $ 908,800 |
NOTE 9 - CONVERTIBLE NOTES - Su
NOTE 9 - CONVERTIBLE NOTES - Summary of Convertible Notes (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |||||
Oct. 09, 2020 | Oct. 08, 2020 | May 31, 2021 | Aug. 31, 2021 | Feb. 13, 2021 | Sep. 02, 2020 | Sep. 01, 2020 | |
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | |||||||
Long-Term Debt, Gross | 263,950 | ||||||
Debt Instrument, Unamortized Discount, Current | 11,250 | ||||||
Payments of Debt Issuance Costs | 30,932 | ||||||
Proceeds from Debt, Net of Issuance Costs | $ 233,018 | ||||||
Jefferson Street One [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Issuance Date | Sep. 01, 2020 | ||||||
Debt Instrument, Maturity Date | Sep. 01, 2021 | Sep. 01, 2021 | |||||
Debt Instrument, Face Amount | $ 82,500 | ||||||
Long-Term Debt, Gross | 75,000 | ||||||
Debt Instrument, Unamortized Discount, Current | 7,500 | ||||||
Payments of Debt Issuance Costs | $ 6,051 | ||||||
Proceeds from Debt, Net of Issuance Costs | $ 68,949 | ||||||
First Fire Global One [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Issuance Date | Sep. 01, 2020 | ||||||
Debt Instrument, Maturity Date | Jun. 01, 2021 | Jun. 01, 2021 | |||||
Debt Instrument, Face Amount | $ 75,000 | $ 75,000 | |||||
Long-Term Debt, Gross | 71,250 | ||||||
Debt Instrument, Unamortized Discount, Current | $ 3,750 | ||||||
Payments of Debt Issuance Costs | $ 9,752 | ||||||
Proceeds from Debt, Net of Issuance Costs | $ 61,498 | ||||||
Power Up Lending Three [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Issuance Date | Oct. 08, 2020 | ||||||
Debt Instrument, Maturity Date | Oct. 08, 2021 | Oct. 08, 2021 | |||||
Debt Instrument, Face Amount | $ 55,000 | ||||||
Long-Term Debt, Gross | 55,000 | ||||||
Debt Instrument, Unamortized Discount, Current | |||||||
East Capital Two [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Issuance Date | Oct. 09, 2020 | ||||||
Debt Instrument, Maturity Date | Oct. 09, 2021 | Oct. 09, 2021 | |||||
Debt Instrument, Face Amount | $ 62,700 | ||||||
Long-Term Debt, Gross | $ 62,700 | ||||||
Debt Instrument, Unamortized Discount, Current | |||||||
Payments of Debt Issuance Costs | $ 7,708 | ||||||
Proceeds from Debt, Net of Issuance Costs | 54,992 | ||||||
Total [Member] | |||||||
Short-Term Debt [Line Items] | |||||||
Debt Instrument, Face Amount | $ 275,200 |
NOTE 9 - CONVERTIBLE NOTES PAYA
NOTE 9 - CONVERTIBLE NOTES PAYABLE - Derivative Liability (Details) - USD ($) | 12 Months Ended | ||
Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | |
Debt Instrument [Line Items] | |||
Convertible Notes Payable, Current | $ 0 | $ 438,921 | |
Debt Conversion, Original Debt, Amount | 275,200 | ||
Amortization of Debt Issuance Costs and Discounts | 75,075 | ||
Debt Instrument, Increase, Accrued Interest | 24,562 | ||
Conversion of Stock, Amount Converted | (183,752) | ||
Interest on Convertible Debt, Net of Tax | 8,538 | ||
Prepayment Fees on Advances, Net | 559,782 | ||
Financing Interest Expense | 29,390 | ||
Unrealized Gain (Loss) on Derivatives | 64,584 | ||
Conversion Of Note Principal [Member] | |||
Debt Instrument [Line Items] | |||
Conversion of Stock, Amount Converted | 166,464 | ||
M F N Principal [Member] | |||
Debt Instrument [Line Items] | |||
Debt Conversion, Original Debt, Amount | $ 15,000 |
NOTE 9 - CONVERTIBLE NOTES -
NOTE 9 - CONVERTIBLE NOTES - Summary of Prepaid Convertible Notes (Details) - USD ($) | 12 Months Ended | ||
Aug. 31, 2021 | Aug. 31, 2022 | Aug. 31, 2020 | |
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | $ 559,782 | ||
Deposit Liabilities, Accrued Interest | 29,390 | ||
Repayments of Debt | 559,782 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 29,390 | ||
Convertible Notes Payable, Current | $ 0 | $ 438,921 | |
Repayments of Convertible Debt | 821,969 | ||
Debt Securities, Gain (Loss) | 232,796 | ||
Crown Bridge Partners [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 1,082 | ||
Deposit Liabilities, Accrued Interest | $ 2,641 | ||
Debt Instrument, Call Date, Latest | Dec. 09, 2020 | ||
Repayments of Debt | $ 1,082 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 2,641 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 72,500 | ||
Debt Securities, Gain (Loss) | 26,732 | ||
Crown Bridge Partners Two [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 40,500 | ||
Deposit Liabilities, Accrued Interest | $ 1,545 | ||
Debt Instrument, Call Date, Latest | Dec. 09, 2020 | ||
Repayments of Debt | $ 40,500 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 1,545 | ||
Convertible Notes Payable, Current | |||
E M A Financial [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 50,000 | ||
Deposit Liabilities, Accrued Interest | $ 1,990 | ||
Debt Instrument, Call Date, Latest | Dec. 09, 2020 | ||
Repayments of Debt | $ 50,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 1,990 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 72,800 | ||
Debt Securities, Gain (Loss) | 20,810 | ||
Power Up Lending One [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 130,000 | ||
Deposit Liabilities, Accrued Interest | $ 6,491 | ||
Debt Instrument, Call Date, Latest | Jan. 22, 2021 | ||
Repayments of Debt | $ 130,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 6,491 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 190,925 | ||
Debt Securities, Gain (Loss) | 54,434 | ||
Power Up Lending Two [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 63,000 | ||
Deposit Liabilities, Accrued Interest | $ 3,042 | ||
Debt Instrument, Call Date, Latest | Feb. 10, 2021 | ||
Repayments of Debt | $ 63,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 3,042 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 92,380 | ||
Debt Securities, Gain (Loss) | 26,338 | ||
East Capital Investment Corporation [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 62,700 | ||
Deposit Liabilities, Accrued Interest | $ 3,114 | ||
Debt Instrument, Call Date, Latest | Apr. 07, 2021 | ||
Repayments of Debt | $ 62,700 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 3,114 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 87,467 | ||
Debt Securities, Gain (Loss) | 21,652 | ||
Power Up Lending Three [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 55,000 | ||
Deposit Liabilities, Accrued Interest | $ 2,746 | ||
Debt Instrument, Call Date, Latest | Apr. 07, 2021 | ||
Repayments of Debt | $ 55,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 2,746 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 80,797 | ||
Debt Securities, Gain (Loss) | 23,051 | ||
Jefferson Street [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 82,500 | ||
Deposit Liabilities, Accrued Interest | $ 4,097 | ||
Debt Instrument, Call Date, Latest | Mar. 01, 2021 | ||
Repayments of Debt | $ 82,500 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 4,097 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 116,975 | ||
Debt Securities, Gain (Loss) | 30,378 | ||
First Fire Global [Member] | |||
Short-Term Debt [Line Items] | |||
[custom:BeginningPrincipleBalanceAfterNoteConversion] | 75,000 | ||
Deposit Liabilities, Accrued Interest | $ 3,724 | ||
Debt Instrument, Call Date, Latest | Mar. 01, 2021 | ||
Repayments of Debt | $ 75,000 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | 3,724 | ||
Convertible Notes Payable, Current | |||
Repayments of Convertible Debt | 108,125 | ||
Debt Securities, Gain (Loss) | $ 29,401 |
NOTE 9 - CONVERTIBLE NOTES _2
NOTE 9 - CONVERTIBLE NOTES - Schedule of Conversions (Details) - USD ($) | 12 Months Ended | |||||||
Aug. 31, 2022 | Aug. 31, 2021 | May 31, 2021 | Oct. 22, 2020 | Sep. 29, 2020 | Sep. 18, 2020 | Sep. 08, 2020 | Sep. 02, 2020 | |
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Face Amount | ||||||||
Conversion of Stock, Amount Converted | (183,752) | |||||||
Interest on Convertible Debt, Net of Tax | 8,538 | |||||||
Debt Conversion, Converted Instrument, Amount | 25,751 | |||||||
Clearance Fees | $ 1,000 | |||||||
E M A Conversion One [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Call Date, Earliest | Sep. 01, 2020 | |||||||
Debt Instrument, Face Amount | $ 5,285 | |||||||
Conversion of Stock, Amount Converted | 5,285 | |||||||
Interest on Convertible Debt, Net of Tax | 5,154 | |||||||
[custom:MFNPrincipalBalance-0] | ||||||||
Debt Conversion, Converted Instrument, Amount | 10,439 | |||||||
Clearance Fees | $ 1,000 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00812 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,408,800 | |||||||
E M A Conversion Total [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Conversion of Stock, Amount Converted | $ 5,285 | |||||||
Interest on Convertible Debt, Net of Tax | 5,154 | |||||||
Debt Conversion, Converted Instrument, Amount | 10,439 | |||||||
Clearance Fees | $ 1,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,408,800 | |||||||
Auctus Conversion One [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Call Date, Earliest | Sep. 08, 2020 | |||||||
Conversion of Stock, Amount Converted | $ 12,055 | |||||||
Interest on Convertible Debt, Net of Tax | 73 | |||||||
[custom:MFNPrincipalBalance-0] | ||||||||
Debt Conversion, Converted Instrument, Amount | 12,128 | |||||||
Clearance Fees | $ 750 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00510 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,525,000 | |||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 33,295 | |||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 21,240 | |||||||
Auctus Conversion Two [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Call Date, Earliest | Sep. 18, 2020 | |||||||
Conversion of Stock, Amount Converted | $ 15,233 | |||||||
Interest on Convertible Debt, Net of Tax | 58 | |||||||
[custom:MFNPrincipalBalance-0] | ||||||||
Debt Conversion, Converted Instrument, Amount | 15,291 | |||||||
Clearance Fees | $ 750 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00510 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,145,300 | |||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 21,240 | |||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 6,007 | |||||||
Auctus Conversion Three [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Call Date, Earliest | Sep. 29, 2020 | |||||||
Conversion of Stock, Amount Converted | $ 6,007 | |||||||
Interest on Convertible Debt, Net of Tax | 18 | |||||||
[custom:MFNPrincipalBalance-0] | $ 11,082 | |||||||
Debt Conversion, Converted Instrument, Amount | 17,107 | |||||||
Clearance Fees | $ 750 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00480 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,720,200 | |||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 6,007 | |||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | ||||||||
Auctus Conversion Four [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Debt Instrument, Call Date, Earliest | Oct. 22, 2020 | |||||||
Conversion of Stock, Amount Converted | ||||||||
Interest on Convertible Debt, Net of Tax | ||||||||
[custom:MFNPrincipalBalance-0] | $ 3,918 | |||||||
Debt Conversion, Converted Instrument, Amount | 3,918 | |||||||
Clearance Fees | $ 750 | |||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00216 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,161,240 | |||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | ||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | ||||||||
Auctus Conversion Total [Member] | ||||||||
Short-Term Debt [Line Items] | ||||||||
Conversion of Stock, Amount Converted | $ 33,295 | |||||||
Interest on Convertible Debt, Net of Tax | 149 | |||||||
[custom:MFNPrincipalBalance-0] | $ 15,000 | |||||||
Debt Conversion, Converted Instrument, Amount | 48,444 | |||||||
Clearance Fees | $ 3,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 11,551,740 |
NOTE 9 - CONVERTIBLE NOTES _3
NOTE 9 - CONVERTIBLE NOTES - Schedule of Conversions Continued (Details) - USD ($) | 9 Months Ended | 12 Months Ended | ||||||||
May 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | Oct. 06, 2020 | Oct. 01, 2020 | Sep. 25, 2020 | Sep. 22, 2020 | Sep. 09, 2020 | Sep. 08, 2020 | Sep. 01, 2020 | |
Short-Term Debt [Line Items] | ||||||||||
Conversion of Stock, Amount Converted | $ (183,752) | |||||||||
Interest on Convertible Debt, Net of Tax | 8,538 | |||||||||
Debt Conversion, Converted Instrument, Amount | 25,751 | |||||||||
Clearance Fees | 1,000 | |||||||||
Debt Instrument, Face Amount | ||||||||||
East Capital Conversion One [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 08, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 26,600 | |||||||||
Conversion of Stock, Amount Converted | $ 13,300 | |||||||||
Interest on Convertible Debt, Net of Tax | 250 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 13,550 | |||||||||
Clearance Fees | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 13,300 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01020 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,328,431 | |||||||||
East Capital Conversion Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 25, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 13,300 | |||||||||
Conversion of Stock, Amount Converted | $ 13,300 | |||||||||
Interest on Convertible Debt, Net of Tax | 129 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 13,429 | |||||||||
Clearance Fees | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00960 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,398,854 | |||||||||
East Capital Conversion Total [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Conversion of Stock, Amount Converted | $ 26,600 | |||||||||
Interest on Convertible Debt, Net of Tax | 379 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | $ 26,979 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,727,285 | |||||||||
Fidelis Capital Conversion One [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 01, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 41,000 | |||||||||
Conversion of Stock, Amount Converted | $ 25,671 | |||||||||
Interest on Convertible Debt, Net of Tax | ||||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 25,671 | |||||||||
Clearance Fees | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 15,329 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01218 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,107,648 | |||||||||
Fidelis Capital Conversion Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 09, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 15,329 | |||||||||
Conversion of Stock, Amount Converted | $ 15,329 | |||||||||
Interest on Convertible Debt, Net of Tax | 2,605 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 17,934 | |||||||||
Clearance Fees | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01020 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,758,257 | |||||||||
Fidelis Capital Conversion Total [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Conversion of Stock, Amount Converted | $ 41,000 | |||||||||
Interest on Convertible Debt, Net of Tax | 2,605 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 43,605 | |||||||||
Clearance Fees | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,865,905 | |||||||||
Armada Conversion One [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 25, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 25,500 | |||||||||
Conversion of Stock, Amount Converted | $ 13,000 | |||||||||
Interest on Convertible Debt, Net of Tax | 213 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 13,213 | |||||||||
Clearance Fees | $ 500 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.01020 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,344,363 | |||||||||
Debt Instrument, Face Amount | $ 12,500 | |||||||||
Armada Conversion Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Oct. 06, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 12,500 | |||||||||
Conversion of Stock, Amount Converted | $ 12,500 | |||||||||
Interest on Convertible Debt, Net of Tax | 38 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 12,538 | |||||||||
Clearance Fees | $ 500 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00960 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,358,145 | |||||||||
Debt Instrument, Face Amount | ||||||||||
Armada Conversion Total [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Conversion of Stock, Amount Converted | $ 25,500 | |||||||||
Interest on Convertible Debt, Net of Tax | 251 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 2,702,508 | |||||||||
Crown Bridge Tranche I One [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 08, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 20,867 | |||||||||
Conversion of Stock, Amount Converted | $ 6,400 | |||||||||
Interest on Convertible Debt, Net of Tax | ||||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 6,400 | |||||||||
Clearance Fees | $ 1,250 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 14,467 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00765 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,000,000 | |||||||||
Crown Bridge Tranche I Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Sep. 22, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 14,467 | |||||||||
Conversion of Stock, Amount Converted | $ 5,635 | |||||||||
Interest on Convertible Debt, Net of Tax | ||||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 5,635 | |||||||||
Clearance Fees | $ 1,250 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 8,832 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00765 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 900,000 | |||||||||
Crown Bridge Tranche I Three [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Call Date, Earliest | Oct. 01, 2020 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Held-to-Maturity Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 8,832 | |||||||||
Conversion of Stock, Amount Converted | $ 7,750 | |||||||||
Interest on Convertible Debt, Net of Tax | ||||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 7,750 | |||||||||
Clearance Fees | $ 1,250 | |||||||||
Certain Loans Acquired in Transfer Accounted for as Available-for-Sale Debt Securities, Outstanding Balance | $ 1,082 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.00720 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,250,000 | |||||||||
Crown Bridge Tranche I Total [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Conversion of Stock, Amount Converted | $ 19,785 | |||||||||
[custom:MFNPrincipalBalance-0] | ||||||||||
Debt Conversion, Converted Instrument, Amount | 19,785 | |||||||||
Clearance Fees | $ 3,750 | |||||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,150,000 |
NOTE 9 - CONVERTIBLE NOTES _4
NOTE 9 - CONVERTIBLE NOTES - Summary of Converted and Prepaid Convertible Notes (Details) - USD ($) | 12 Months Ended | ||||||||||||
Aug. 31, 2021 | Feb. 28, 2021 | Nov. 30, 2020 | Oct. 08, 2020 | Aug. 31, 2020 | Aug. 30, 2020 | Aug. 18, 2020 | Jul. 17, 2020 | Mar. 12, 2020 | Feb. 19, 2020 | Feb. 13, 2020 | Jan. 08, 2020 | Dec. 13, 2019 | |
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | $ 1,002,700 | ||||||||||||
Convertible note, principal converted | $ 166,464 | $ 276,454 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 275,200 | $ 284,582 | |||||||||||
Debt Instrument, Face Amount | |||||||||||||
Peak One Opportunity Fund [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 85,000 | ||||||||||||
E M A Financial [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 90,000 | ||||||||||||
Convertible note, principal converted | 5,285 | 84,716 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | |||||||||||||
Peak One [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Convertible note, principal converted | 85,000 | ||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | $ 235,000 | ||||||||||||
Auctus Fund [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 90,000 | ||||||||||||
Convertible note, principal converted | 48,295 | 41,705 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | |||||||||||||
Crown Bridge Partners [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 40,500 | ||||||||||||
Convertible note, principal converted | 19,785 | 19,633 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 1,082 | ||||||||||||
Debt Instrument, Face Amount | $ 121,500 | ||||||||||||
East Capital Investment Corporation [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 50,000 | ||||||||||||
Convertible note, principal converted | 26,600 | 23,400 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||||||||
Fidelis Capital [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 50,000 | ||||||||||||
Convertible note, principal converted | 41,000 | $ 9,000 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||||||||
Armada Capital Partners L L C [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 38,500 | ||||||||||||
Convertible note, principal converted | 25,500 | 13,000 | |||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | |||||||||||||
Debt Instrument, Face Amount | $ 38,500 | ||||||||||||
Crown Bridge Partners Two [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 40,500 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 40,500 | ||||||||||||
Debt Instrument, Face Amount | |||||||||||||
E M A Financial Two [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 50,000 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 50,000 | ||||||||||||
Debt Instrument, Face Amount | $ 50,000 | ||||||||||||
Power Up Lending One [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 130,000 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 130,000 | ||||||||||||
Debt Instrument, Face Amount | |||||||||||||
Power Up Lending Two [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 63,000 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 63,000 | ||||||||||||
Debt Instrument, Face Amount | $ 63,000 | ||||||||||||
East Capital Investment Corporation Two [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 62,700 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 62,700 | ||||||||||||
Debt Instrument, Face Amount | |||||||||||||
Power Up Lending Three [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 55,000 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 55,000 | ||||||||||||
Debt Instrument, Face Amount | $ 55,000 | ||||||||||||
Jefferson Street [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 82,500 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 82,500 | ||||||||||||
Debt Instrument, Face Amount | |||||||||||||
First Fire Global [Member] | |||||||||||||
Short-Term Debt [Line Items] | |||||||||||||
Increase (Decrease) in Notes Payable, Current | 75,000 | ||||||||||||
Convertible note, principal converted | |||||||||||||
Long-Term Debt and Capital Lease Obligations, Maturities, Repayments of Principal in Year Two | 75,000 | ||||||||||||
Debt Instrument, Face Amount |
NOTE 9 _ CONVERTIBLE NOTES (Det
NOTE 9 – CONVERTIBLE NOTES (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 24 Months Ended | ||||||||||||||||
Oct. 09, 2020 | Oct. 08, 2020 | Mar. 12, 2020 | Feb. 13, 2020 | Jan. 08, 2020 | Dec. 13, 2019 | Nov. 30, 2020 | Sep. 29, 2020 | Aug. 18, 2020 | Jul. 17, 2020 | Feb. 19, 2020 | Dec. 31, 2019 | May 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2022 | Sep. 02, 2020 | Sep. 01, 2020 | Aug. 31, 2020 | Nov. 18, 2019 | |
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | ||||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 233,018 | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.06% | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Discount from Market Price, Offering Date | 30% | |||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 64,584 | |||||||||||||||||||
Conversion of Stock, Amount Converted | (183,752) | |||||||||||||||||||
Convertible Notes Payable, Current | $ 0 | $ 0 | $ 438,921 | |||||||||||||||||
Minimum [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 66.25% | |||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 66.30% | |||||||||||||||||||
Peak One Opportunity Fund [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 1,096,846 | |||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 211,500 | |||||||||||||||||||
E M A Financial [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 30,000 | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.5 | |||||||||||||||||||
[custom:WarrantSharesExercisedPercent-0] | 100% | |||||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 45,851,221 | |||||||||||||||||||
Debt Instrument, Face Amount | ||||||||||||||||||||
Convertible Notes Payable, Current | ||||||||||||||||||||
Peak One [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 10 | |||||||||||||||||||
[custom:WarrantSharesExercisedPercent-0] | 100% | |||||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 3,720,326 | |||||||||||||||||||
Debt Instrument, Face Amount | $ 235,000 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 23,500 | |||||||||||||||||||
Class of Warrant or Right, Outstanding | 10,000 | |||||||||||||||||||
Crown Bridge Partners [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.5 | |||||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 4,680 | |||||||||||||||||||
Debt Instrument, Face Amount | $ 121,500 | |||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | 109,500 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | $ 12,000 | |||||||||||||||||||
Convertible Notes Payable, Current | ||||||||||||||||||||
Auctus Capital Partners [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 75,000 | |||||||||||||||||||
Debt Instrument Issued Principal | 75,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 75,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 75,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 59,342 | |||||||||||||||||||
Legal Fees | $ 15,658 | |||||||||||||||||||
Debt Instrument, Term | 9 months | |||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 30, 2020 | |||||||||||||||||||
Principal Amount Outstanding of Loans Held-in-portfolio | $ 0 | |||||||||||||||||||
Conversion of Stock, Amount Converted | $ 6,007 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 17,107 | |||||||||||||||||||
Shares Issued, Price Per Share | $ 0.0048 | |||||||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 60% | |||||||||||||||||||
[custom:MFNPrincipalBalance-0] | $ 15,000 | |||||||||||||||||||
Debt Instrument, Convertible, Stock Price Trigger | $ 0.1 | |||||||||||||||||||
East Capital Investment Corporation [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 50,000 | |||||||||||||||||||
Debt Instrument Issued Principal | 50,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 50,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 50,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 43,492 | |||||||||||||||||||
Legal Fees | $ 6,508 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Feb. 13, 2021 | |||||||||||||||||||
Convertible Notes Payable, Current | ||||||||||||||||||||
Fidelis Capital [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 50,000 | |||||||||||||||||||
Debt Instrument Issued Principal | 50,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 50,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 50,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 43,487 | |||||||||||||||||||
Legal Fees | $ 6,513 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Feb. 19, 2021 | |||||||||||||||||||
Armada Capital Partners L L C [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.50 | |||||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 4,200 | |||||||||||||||||||
Debt Instrument, Face Amount | $ 38,500 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 3,500 | |||||||||||||||||||
Debt Instrument Issued Principal | 38,500 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 35,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 35,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 32,992 | |||||||||||||||||||
Legal Fees | $ 2,008 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Mar. 12, 2021 | |||||||||||||||||||
E M A Financial Two [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 50,000 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 2,500 | |||||||||||||||||||
Debt Instrument Issued Principal | 50,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 47,500 | |||||||||||||||||||
Business Combination, Consideration Transferred | 47,500 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 42,987 | |||||||||||||||||||
Legal Fees | $ 4,513 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 17, 2021 | |||||||||||||||||||
Power Up Lending [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 130,000 | |||||||||||||||||||
Debt Instrument Issued Principal | 130,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 130,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 130,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 116,079 | |||||||||||||||||||
Legal Fees | $ 13,921 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Jul. 24, 2021 | |||||||||||||||||||
Power Up Lending Two [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 63,000 | |||||||||||||||||||
Debt Instrument Issued Principal | 63,000 | |||||||||||||||||||
Debt Instrument, Debt Default, Amount | 63,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 63,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 54,939 | |||||||||||||||||||
Legal Fees | $ 8,061 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Aug. 18, 2021 | |||||||||||||||||||
Convertible Notes Payable, Current | ||||||||||||||||||||
Jefferson Street One [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 82,500 | |||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 68,949 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 7,500 | |||||||||||||||||||
Business Combination, Consideration Transferred | $ 75,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 68,949 | |||||||||||||||||||
Legal Fees | $ 6,051 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Sep. 01, 2021 | Sep. 01, 2021 | ||||||||||||||||||
Principal Amount Outstanding of Loans Held-in-portfolio | 82,500 | |||||||||||||||||||
Debt Conversion, Original Debt, Interest Rate of Debt | 10% | |||||||||||||||||||
Debt Default, Short-Term Debt, Description of Violation or Event of Default | Upon an event of default, the interest rate will be equal to the 22.0% per annum from the due date thereof until the same is paid | |||||||||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date | |||||||||||||||||||
First Fire Global One [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | 75,000 | $ 75,000 | ||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 61,498 | |||||||||||||||||||
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums | 3,750 | |||||||||||||||||||
Business Combination, Consideration Transferred | $ 71,250 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 61,498 | |||||||||||||||||||
Legal Fees | $ 9,752 | |||||||||||||||||||
Debt Instrument, Term | 9 months | |||||||||||||||||||
Debt Instrument, Maturity Date | Jun. 01, 2021 | Jun. 01, 2021 | ||||||||||||||||||
Principal Amount Outstanding of Loans Held-in-portfolio | $ 75,000 | |||||||||||||||||||
Debt Conversion, Original Debt, Interest Rate of Debt | 10% | |||||||||||||||||||
Debt Default, Short-Term Debt, Description of Violation or Event of Default | Upon an event of default, the interest rate will be equal to the 24.0% per annum from the due date thereof until the same is paid | |||||||||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date | |||||||||||||||||||
Power Up Lending Three [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 55,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | 55,000 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 47,579 | |||||||||||||||||||
Legal Fees | $ 7,421 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Oct. 08, 2021 | Oct. 08, 2021 | ||||||||||||||||||
Principal Amount Outstanding of Loans Held-in-portfolio | $ 55,000 | |||||||||||||||||||
Debt Conversion, Original Debt, Interest Rate of Debt | 10% | |||||||||||||||||||
Debt Default, Short-Term Debt, Description of Violation or Event of Default | Upon an event of default, the interest rate will be equal to the 22.0% per annum from the due date thereof until the same is paid | |||||||||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date | |||||||||||||||||||
Convertible Notes Payable, Current | ||||||||||||||||||||
East Capital Two [Member] | ||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 62,700 | |||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 54,992 | |||||||||||||||||||
Business Combination, Consideration Transferred | 62,700 | |||||||||||||||||||
Proceeds from Issuance of Medium-term Notes | 54,992 | |||||||||||||||||||
Legal Fees | $ 7,708 | |||||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||||
Debt Instrument, Maturity Date | Oct. 09, 2021 | Oct. 09, 2021 | ||||||||||||||||||
Principal Amount Outstanding of Loans Held-in-portfolio | $ 62,700 | |||||||||||||||||||
Debt Conversion, Original Debt, Interest Rate of Debt | 10% | |||||||||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The conversion price shall equal the lower of: (i) the lowest closing price during the preceding 20 trading day period ending on the latest complete trading day prior to the Issue Date of this Note (the “Closing Price”) or (ii) 60.0% of the lowest traded price for the common stock on the principal market during the 20 consecutive trading immediately preceding the Conversion Date |
NOTE 10 - WARRANTS - Summary of
NOTE 10 - WARRANTS - Summary of Warrants (Details) - USD ($) | Aug. 31, 2021 | Jan. 06, 2021 | Dec. 28, 2020 | Dec. 21, 2020 | Nov. 20, 2020 | Nov. 11, 2020 | Nov. 05, 2020 | Oct. 29, 2020 | Oct. 19, 2020 | Oct. 12, 2020 | Oct. 08, 2020 | Oct. 01, 2020 | Sep. 25, 2020 | Sep. 22, 2020 | Sep. 14, 2020 | Sep. 09, 2020 | Sep. 08, 2020 | Aug. 31, 2020 | Aug. 25, 2020 | Aug. 21, 2020 | Aug. 11, 2020 | Aug. 04, 2020 | Jul. 29, 2020 | Jul. 23, 2020 | Jul. 21, 2020 | Jul. 20, 2020 |
Peak One Cashless Exercise One [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 100,000 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 250,358 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 250,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 7,511 | |||||||||||||||||||||||||
Peak One Cashless Exercise Two [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 92,489 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 250,358 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 250,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 7,511 | |||||||||||||||||||||||||
Peak One Cashless Exercise Three [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 84,979 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 250,358 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 250,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 7,511 | |||||||||||||||||||||||||
Peak One Cashless Exercise Four [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 77,468 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 250,358 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 250,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 7,511 | |||||||||||||||||||||||||
Peak One Cashless Exercise Five [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 69,957 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 250,358 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 250,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 7,511 | |||||||||||||||||||||||||
Peak One Cashless Exercise Six [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 62,446 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 500,715 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 500,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 15,021 | |||||||||||||||||||||||||
Peak One Cashless Exercise Seven [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 47,425 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 3% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 500,715 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 500,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 15,021 | |||||||||||||||||||||||||
Peak One Cashless Exercise Eight [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 32,403 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 2.05% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 500,489 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 500,000 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 10,260 | |||||||||||||||||||||||||
Peak One Cashless Exercise Nine [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 22,143 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 2.05% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 500,489 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 500,000 | |||||||||||||||||||||||||
Peak One Cashless Exercise Ten [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 11,883 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 2.05% | |||||||||||||||||||||||||
Share Price | $ 21 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 470,786 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 470,326 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 9,651 | |||||||||||||||||||||||||
Peak One Cashless Exercise Total [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 3,724,984 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 3,720,326 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 97,768 | |||||||||||||||||||||||||
Peak One Cashless Exercise Eleven [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 75,000 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 1.672% | |||||||||||||||||||||||||
Share Price | $ 10 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 750,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 748,746 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 12,540 | |||||||||||||||||||||||||
Peak One Cashless Exercise Twelve [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 62,460 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.609% | |||||||||||||||||||||||||
Share Price | $ 0.068 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 2,564,039 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 2,344,407 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 15,615 | |||||||||||||||||||||||||
Peak One Cashless Exercise Thirteen [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 46,845 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.609% | |||||||||||||||||||||||||
Share Price | $ 0.068 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 2,564,039 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 2,344,407 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 15,615 | |||||||||||||||||||||||||
Peak One Cashless Exercise Fourteen [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 31,230 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.609% | |||||||||||||||||||||||||
Share Price | $ 0.068 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 5,128,079 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 4,668,814 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 31,230 | |||||||||||||||||||||||||
Peak One Cashless Exercise Total Two [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 11,006,157 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 10,086,374 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 75,000 | |||||||||||||||||||||||||
E M A Cashless Exercise One [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 375,000 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 17 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 2,400,002 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 2,398,856 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 19,488 | |||||||||||||||||||||||||
E M A Cashless Exercise Two [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 355,512 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 17 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 2,950,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 2,948,951 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 23,954 | |||||||||||||||||||||||||
E M A Exercise Three [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 331,558 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 10 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 3,400,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 3,397,239 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 27,608 | |||||||||||||||||||||||||
E M A Cashless Exercise Four [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 303,950 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 10 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 3,600,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 3,597,077 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 29,232 | |||||||||||||||||||||||||
E M A Cashless Exercise Five [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 274,718 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 10 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 4,150,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 4,146,630 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 33,698 | |||||||||||||||||||||||||
E M A Cashless Exercise Six [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 241,020 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 6.50 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 4,600,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 4,594,254 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 37,352 | |||||||||||||||||||||||||
E M A Cashless Exercise Seven [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 203,668 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 6.50 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 4,800,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 4,794,004 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 38,976 | |||||||||||||||||||||||||
E M A Cashless Exercise Eight [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 164,692 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 2.02 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 5,200,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 5,179,097 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 42,224 | |||||||||||||||||||||||||
E M A Cashless Exercise Nine [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 122,468 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 0.60 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 5,500,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 5,425,567 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 44,660 | |||||||||||||||||||||||||
E M A Cashless Exercise Ten [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 77,808 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 0.43 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 5,700,000 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 5,592,363 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 46,284 | |||||||||||||||||||||||||
E M A Cashless Exercise Eleven [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:AntiDilutionValueWTS-0] | $ 31,524 | |||||||||||||||||||||||||
[custom:AntiDilutionBasePrice-0] | 0.812% | |||||||||||||||||||||||||
Share Price | $ 0.30 | |||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 3,882,264 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 3,777,184 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 31,524 | |||||||||||||||||||||||||
E M A Cashless Exercise Total [Member] | ||||||||||||||||||||||||||
Short-Term Debt [Line Items] | ||||||||||||||||||||||||||
[custom:NumberWTSSharesElectedForPurchase-0] | 46,182,266 | |||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 45,851,222 | |||||||||||||||||||||||||
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 375,000 |
NOTE 10 - WARRANTS - Schedule o
NOTE 10 - WARRANTS - Schedule of Warrant Summary (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Nov. 30, 2020 | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | Jun. 30, 2020 | Jan. 17, 2020 | |
Peak One [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
[custom:WarrantSharesExercisedPercent-0] | 100% | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 750,000 | |||||
E M A Financial [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 30,000 | |||||
Original Shares Issued [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Class of Warrant or Right, Outstanding | 50,000,000 | 793,920 | ||||
Adjustment of Warrants Granted for Services | $ 50,000,000 | |||||
[custom:WarrantsExercisedForfeitedExpired] | 793,920 | |||||
Anti Dilution Adjusted [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Class of Warrant or Right, Outstanding | 68,163,661 | |||||
Adjustment of Warrants Granted for Services | ||||||
[custom:WarrantsExercisedForfeitedExpired] | 68,163,661 | |||||
Crown Bridge Partners [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
[custom:CancellationOfWarrantShares] | 9,720 | |||||
Armada Partners [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
[custom:CancellationOfWarrantShares] | 4,200 |
NOTE 10 _ WARRANTS (Details Nar
NOTE 10 – WARRANTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||||
Aug. 02, 2022 | Mar. 12, 2020 | Jan. 08, 2020 | Dec. 09, 2019 | Jul. 30, 2020 | Jul. 23, 2020 | Jan. 17, 2020 | Aug. 31, 2021 | Aug. 31, 2020 | Jun. 30, 2020 | |
Short-Term Debt [Line Items] | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.06% | |||||||||
Peak One Warrant Three [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 750,000 | |||||||||
Warrants and Rights Outstanding, Term | 24 months | |||||||||
E M A Financial Warrant [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 106,540 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 10 months 20 days | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.89% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 58.11% | |||||||||
Peak One Warrant [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | 39,515 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 9 months 10 days | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 10 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.89% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 57.51% | |||||||||
Crown Bridge Warrant [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | 17,443 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 10 months 9 days | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.5 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.89% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 57.97% | |||||||||
Armada [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 12,341 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 9 months 10 days | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.5 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.29% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 61.54% | |||||||||
Crown Bridge Warrant Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 126,112 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 10 months 24 days | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.00905 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.28% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 55.33% | |||||||||
Peak One Warrant Two [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 45,722 | |||||||||
Warrants and Rights Outstanding, Term | 4 years 11 months 1 day | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.1 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.27% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 55.29% | |||||||||
Alumni Capital [Member] | ||||||||||
Short-Term Debt [Line Items] | ||||||||||
Debt Instrument, Fair Value Disclosure | $ 234,000 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.02 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.85% | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 221.40% | |||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 50,000,000 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price | $ 0.0048 |
NOTE 11 - FAIR VALUE MEASUREMEN
NOTE 11 - FAIR VALUE MEASUREMENTS - Measured on a Recurring Basis (Details) | Aug. 31, 2021 USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Derivative Liability | |
Fair Value, Inputs, Level 1 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Derivative Liability | |
Fair Value, Inputs, Level 2 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Derivative Liability | |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Derivative Liability |
NOTE 11 - FAIR VALUE MEASUREM_2
NOTE 11 - FAIR VALUE MEASUREMENTS - Schedule of Fair Value Summary (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Feb. 28, 2021 | Nov. 30, 2020 | Aug. 31, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | |
Short-Term Debt [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | $ 74,187 | |||||
Increase (Decrease) in Derivative Assets and Liabilities | 136,321 | 33,490 | $ 45,490 | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | 18,439 | 58,090 | $ (64,584) | |||
Derivative Liabilities [Member] | ||||||
Short-Term Debt [Line Items] | ||||||
Debt Instrument, Fair Value Disclosure | $ 45,490 | $ 163,371 | $ 64,584 |
NOTE 12 _ RELATED PARTY TRANS_2
NOTE 12 – RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Sep. 11, 2020 | Jun. 23, 2022 | May 31, 2022 | Sep. 30, 2019 | Feb. 28, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | Aug. 31, 2020 | Jan. 01, 2021 | |
Related Party Transaction [Line Items] | |||||||||
Due to Related Parties, Current | $ 377,398 | $ 2,347 | |||||||
Accounts Payable, Related Parties, Current | 15,127 | 933,434 | |||||||
Operating Leases, Rent Expense, Net | 289,411 | $ 94,570 | |||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||||
Chief Investment Officer [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 | ||||||||
Shares Issued, Price Per Share | $ 0.0138 | ||||||||
C E O [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 10,000,000 | ||||||||
Zestv Studios [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Due to Related Parties, Current | 15,127 | $ 933,434 | |||||||
Increase (Decrease) in Notes Payable, Related Parties | $ 273,913 | ||||||||
Hong Kong Lease [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Accounts Payable, Related Parties, Current | 0 | 16,512 | |||||||
Operating Leases, Rent Expense, Net | $ 66,048 | 66,048 | |||||||
Guangzhou Shengshituhua Film [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Acquired Finite-Lived Intangible Asset, Weighted-Average Period before Renewal or Extension | 5 years | ||||||||
Business Acquisition, Effective Date of Acquisition | Jun. 01, 2017 | ||||||||
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Due Date | Jun. 01, 2022 | ||||||||
Payments to Acquire Productive Assets | $ 500,000 | ||||||||
[custom:RoyaltyPercentageRate] | 20% | ||||||||
Royalty Expense | $ 0 | 25,600 | |||||||
Chief Executive Officer [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Accrued Salaries, Current | $ 180,000 | ||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | 100,000 | ||||||||
[custom:SharesReturnedToCompany] | 266,667 | ||||||||
Chief Executive Officer [Member] | Series A Preferred Stock [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||||
C E O And C F O [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Payments to Employees | 393,165 | 270,125 | |||||||
Chief Investment Officer [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Payments to Employees | 154,473 | 63,212 | |||||||
Youall Perform Services L T D [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Accounts Payable, Related Parties, Current | 0 | 1,439 | |||||||
Capitalized Computer Software, Additions | $ 128,000 | ||||||||
Payments to Develop Software | $ 108,800 | ||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Outstanding Balance | $ 19,200 | ||||||||
Guangzhou Yuezhi Computer [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net | 10% | ||||||||
Capitalized Computer Software, Additions | $ 128,000 | ||||||||
Payments to Develop Software | $ 108,800 | ||||||||
Research and Development Expense | $ 108,800 | ||||||||
Zestv Studios [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Accounts Payable, Related Parties, Current | $ 916,922 | ||||||||
C E O [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Increase (Decrease) in Notes Payable, Related Parties, Current | 144,516 | ||||||||
C F O [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Increase (Decrease) in Notes Payable, Related Parties, Current | $ 232,882 | ||||||||
Zestv Studios [Member] | |||||||||
Related Party Transaction [Line Items] | |||||||||
Proceeds from Sale of Intangible Assets | $ 750,000 |
NOTE 13 _ STOCKHOLDERS_ EQUITY
NOTE 13 – STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Aug. 02, 2022 | Jun. 01, 2022 | Sep. 03, 2021 | Jul. 19, 2022 | Mar. 16, 2022 | Jan. 21, 2022 | Oct. 21, 2021 | Aug. 31, 2022 | Nov. 30, 2021 | Feb. 28, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | May 31, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ 36,952 | $ 25,835 | |||||||||||
Income Tax Examination, Penalties Expense | $ 141,945 | (141,945) | |||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 25,406,238 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 56,407,922 | ||||||||||||
Weighted Average Number of Shares, Common Stock Subject to Repurchase or Cancellation | 261,111 | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 37,527 | ||||||||||||
Preferred Stock, Shares Authorized | 10,000,000 | ||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||||||||
Dividends Payable, Current | $ 1,834 | ||||||||||||
Preferred Class C [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Common Stock Dividends, Shares | 19,322 | ||||||||||||
Preferred Stock, Dividend Rate, Percentage | 12% | ||||||||||||
Share-Based Goods and Nonemployee Services Transaction, Valuation Method, Expected Dividend Rate | 22% | ||||||||||||
Series A Preferred [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||||||||
Stock Issued During Period, Shares, New Issues | 100,000 | ||||||||||||
Series B Preferred [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 20,000 | ||||||||||||
Preferred Stock, Redemption Price Per Share | $ 16 | ||||||||||||
Series C Preferred [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 280,025 | ||||||||||||
Conversion of Stock, Shares Converted | 7,140,360 | ||||||||||||
[custom:DividendExpense-0] | $ 16,801 | ||||||||||||
Dividends Payable, Current | $ 0 | ||||||||||||
Series D Preferred [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 798 | ||||||||||||
Conversion of Stock, Shares Converted | 17,388,277 | ||||||||||||
[custom:DividendExpense-0] | $ 9,034 | ||||||||||||
Dividends Payable, Current | $ 1,834 | ||||||||||||
Preferred Class D [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Common Stock Dividends, Shares | 6 | ||||||||||||
Preferred Stock, Dividend Rate, Percentage | 8% | ||||||||||||
Put Share 0. 02288 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
[custom:StockIssuedDuringPeriodPutSharesForCashShares] | 2,500,000 | ||||||||||||
Put Share 0. 02719 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
[custom:StockIssuedDuringPeriodPutSharesForCashShares] | 3,000,000 | ||||||||||||
Put Shares 1 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.02288 | ||||||||||||
Put Shares 2 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.014256 | $ 0.02719 | |||||||||||
Shares Issued At. 01548 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.01548 | $ 0.01548 | |||||||||||
Stock Issued During Period, Shares, Other | 1,800,000 | ||||||||||||
Shares Issued At 0. 01716 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.01716 | 0.01716 | |||||||||||
Stock Issued During Period, Shares, Other | 3,000,000 | ||||||||||||
Shares Issued At 0. 01729 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.01729 | 0.01729 | |||||||||||
Stock Issued During Period, Shares, Other | 2,300,000 | ||||||||||||
Shares Issued At 0. 0110 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0110 | $ 0.0110 | |||||||||||
Stock Issued During Period, Shares, Other | 2,300,000 | ||||||||||||
Chief Investment Officer [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 500,000 | ||||||||||||
C E O [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 10,000,000 | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 1,000,000 | ||||||||||||
C E O And Chief Investment Officer [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0138 | $ 0.0138 | |||||||||||
Seven Consultants [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0138 | $ 0.0138 | |||||||||||
Stock Issued During Period, Shares, Issued for Services | 30,000,000 | ||||||||||||
Common Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
[custom:StockIssuedDuringPeriodPutSharesForCashShares] | 14,900,000 | 31,646,633 | |||||||||||
Stock Issued During Period, Shares, Other | 23,000,000 | ||||||||||||
Stock Issued During Period, Shares, Issued for Services | 45,000,000 | 17,700,000 | |||||||||||
Stock Issued During Period, Shares, Conversion of Units | 85,715,176 | 24,528,637 | |||||||||||
[custom:StockIssuedDuringPeriodSharesConversionOfUnitsSeriesD] | 12,307,672 | ||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 25,406,238 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | 56,407,922 | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 1,500 | ||||||||||||
Alumni Capital [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned | $ 1 | ||||||||||||
Debt Instrument, Convertible, Associated Derivative Transactions, Description | The purchase price is number of common stocks in a Purchase Notice issued by the Company multiplied by 75% of the lowest traded price of the Common Stock five Business Days prior to the Closing, which is no later than five business days after the Purchase Notice Date. | ||||||||||||
Accredited Investor One [Member] | Preferred Class C [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 234,300 | ||||||||||||
Proceeds from Issuance or Sale of Equity | $ 203,500 | ||||||||||||
Sale of Stock, Consideration Received on Transaction | $ 184,000 | ||||||||||||
Accredited Investor Two [Member] | Preferred Class C [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Sale of Stock, Number of Shares Issued in Transaction | 98,325 | ||||||||||||
Proceeds from Issuance or Sale of Equity | $ 85,450 | ||||||||||||
Sale of Stock, Consideration Received on Transaction | $ 75,390 | ||||||||||||
Investor One [Member] | Seires D Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 153 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 153,000 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 140,760 | ||||||||||||
Investor Two [Member] | Seires D Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 34 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 34,000 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 31,280 | ||||||||||||
Investor Three [Member] | Seires C Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 89,490 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 78,035 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 68,535 | ||||||||||||
Investor Four [Member] | Seires C Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 96,075 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 83,500 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 73,600 | ||||||||||||
Investor Five [Member] | Seires C Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 147,775 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 128,500 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 115,000 | ||||||||||||
Investor Six [Member] | Seires C Preferred Stock [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Other | 92,000 | ||||||||||||
[custom:StockIssuedDuringPeriodSharesValue] | 80,000 | ||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 70,380 | ||||||||||||
Shares Issued At. 0140 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0140 | ||||||||||||
Stock Issued During Period, Shares, Other | 19,000,000 | ||||||||||||
Shares Issued At. 0715 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0715 | ||||||||||||
Stock Issued During Period, Shares, Other | 4,000,000 | ||||||||||||
Put Shares [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.015312 | ||||||||||||
[custom:PutSharesIssuedForCashShares] | 31,646,633 | ||||||||||||
Put Shares 3 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.01452 | ||||||||||||
Put Shares 4 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.077528 | ||||||||||||
Put Shares 5 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.09856 | ||||||||||||
Put Shares 6 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.11 | ||||||||||||
Put Shares 7 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.0715 | ||||||||||||
Put Shares 8 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.0563 | ||||||||||||
Put Shares 9 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.0528 | ||||||||||||
Put Shares 10 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.04875 | ||||||||||||
Put Shares 11 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | 0.05764 | ||||||||||||
Put Shares 12 [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Shares Issued, Price Per Share | $ 0.0344 | ||||||||||||
Series C And D Conversions [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 24,528,637 | ||||||||||||
Consulting Services [Member] | |||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Issued for Services | 17,700,000 |
NOTE 14 - INCOME TAXES - Schedu
NOTE 14 - INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Operating Loss Carryforwards | $ 1,328,204 | $ 871,681 |
Deferred Tax Assets, Valuation Allowance | 1,328,204 | 871,681 |
Deferred Tax Assets, Net of Valuation Allowance |
NOTE 14 - INCOME TAXES - Sche_2
NOTE 14 - INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Federal statutory tax rate | 21% | 21% |
Change in valuation allowance | (21.00%) | (21.00%) |
Effective tax rate | 0% | 0% |
NOTE 14 _ INCOME TAXES (Details
NOTE 14 – INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 1,328,204 | $ 871,681 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% |
Hong Kong Tax Rate [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 16.50% |
NOTE 15 _ CONCENTRATION RISK (D
NOTE 15 – CONCENTRATION RISK (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Concentration Risk [Line Items] | ||
Accounts Receivable, after Allowance for Credit Loss | $ 0 | |
[custom:HongKongDepositProtection-0] | $ 64,000 | |
Cash Equivalents, at Carrying Value | 70,602 | 131,796 |
Cash, FDIC Insured Amount | 250,000 | |
Fair Value, Concentration of Risk, Cash and Cash Equivalents | $ 13,621 | $ 0 |
Revenue Customer One [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 70% | 89% |
Revenue Customer Two [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 26% |