Cover
Cover - shares | 9 Months Ended | |
May 31, 2020 | Jul. 15, 2020 | |
Cover [Abstract] | ||
Entity Registrant Name | BOATIM INC. | |
Entity Central Index Key | 0001622231 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --08-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | true | |
Entity Current Reporting Status | Yes | |
Document Period End Date | May 31, 2020 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Entity Ex Transition Period | false | |
Entity Common Stock Shares Outstanding | 50,500,011 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | May 31, 2020 | Aug. 31, 2019 |
CURRENT ASSETS | ||
Cash | $ 34,887 | $ 15,691 |
VAT receivable | 11,088 | 0 |
Total current assets | 45,975 | 15,691 |
Deposits | 4,787 | 4,787 |
Total other assets | 4,787 | 4,787 |
TOTAL ASSETS | 50,762 | 20,478 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 42,507 | 46,652 |
Related party loan | 619,334 | 214,550 |
Related party loan - acquisition | 500,000 | 500,000 |
TOTAL LIABILITIES | 1,161,841 | 761,202 |
STOCKHOLDERS' DEFICIT | ||
Common stock: authorized 500,000,000; $0.001 par value; 50,500,011 shares issued and outstanding at May 31, 2020 and August 31, 2019 | 50,500 | 50,500 |
Additional Paid in Capital | (322,135) | (403,425) |
Accumulated deficit | (839,427) | (387,392) |
Accumulated other comprehensive loss | (17) | (407) |
Total Stockholders' deficit | (1,111,079) | (740,724) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 50,762 | $ 20,478 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | May 31, 2020 | Aug. 31, 2019 |
Stockholders' Deficit | ||
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares issued | 50,500,011 | 50,500,011 |
Common stock, shares outstanding | 50,500,011 | 50,500,011 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
May 31, 2020 | May 31, 2019 | May 31, 2020 | May 31, 2019 | |
Operating expenses | ||||
General and Administrative | $ 209,346 | $ 11,190 | $ 452,035 | $ 23,568 |
Total operating expenses | 209,346 | 11,190 | 452,035 | 23,568 |
Loss from operations | (209,346) | (11,190) | (452,035) | (23,568) |
Net loss | (209,346) | (11,190) | (452,035) | (23,568) |
Other comprehensive income | 1,003 | 0 | 390 | 0 |
Comprehensive loss | $ (208,343) | $ (11,190) | $ (451,645) | $ (23,568) |
Net loss per common share - basic and diluted | $ 0 | $ 0 | $ (0.01) | $ 0 |
Weighted average common shares outstanding - basic and diluted | 50,500,011 | 50,500,011 | 50,500,011 | 50,500,011 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Deficit [Member] |
Balance, shares at Aug. 31, 2018 | 50,500,011 | ||||
Balance, amount at Aug. 31, 2018 | $ (84,299) | $ 50,500 | $ 96,575 | $ 0 | $ (231,374) |
Net loss | (4,127) | $ 0 | 0 | 0 | (4,127) |
Balance, shares at Nov. 30, 2018 | 50,500,011 | ||||
Balance, amount at Nov. 30, 2018 | (88,426) | $ 50,500 | 96,575 | 0 | (235,501) |
Balance, shares at Aug. 31, 2018 | 50,500,011 | ||||
Balance, amount at Aug. 31, 2018 | (84,299) | $ 50,500 | 96,575 | 0 | (231,374) |
Net loss | (23,568) | ||||
Balance, shares at May. 31, 2019 | 50,500,011 | ||||
Balance, amount at May. 31, 2019 | (607,867) | $ 50,500 | (403,425) | 0 | (254,942) |
Balance, shares at Nov. 30, 2018 | 50,500,011 | ||||
Balance, amount at Nov. 30, 2018 | (88,426) | $ 50,500 | 96,575 | 0 | (235,501) |
Net loss | (8,251) | 0 | 0 | 0 | (8,251) |
Acquisition of assets under common control | (500,000) | $ 0 | (500,000) | 0 | 0 |
Balance, shares at Feb. 28, 2019 | 50,500,011 | ||||
Balance, amount at Feb. 28, 2019 | (596,677) | $ 50,500 | (403,425) | 0 | (243,752) |
Net loss | (11,190) | $ 0 | 0 | 0 | (11,190) |
Balance, shares at May. 31, 2019 | 50,500,011 | ||||
Balance, amount at May. 31, 2019 | (607,867) | $ 50,500 | (403,425) | 0 | (254,942) |
Balance, shares at Aug. 31, 2019 | 50,500,011 | ||||
Balance, amount at Aug. 31, 2019 | (740,724) | $ 50,500 | (403,425) | (407) | (387,392) |
Net loss | (77,681) | 0 | 0 | 0 | (77,681) |
Forgiveness of related party debt | 81,290 | 0 | 81,290 | 0 | 0 |
Foreign currency translation adjustment | (454) | $ 0 | 0 | (454) | 0 |
Balance, shares at Nov. 30, 2019 | 50,500,011 | ||||
Balance, amount at Nov. 30, 2019 | (737,569) | $ 50,500 | (322,135) | (861) | (465,073) |
Balance, shares at Aug. 31, 2019 | 50,500,011 | ||||
Balance, amount at Aug. 31, 2019 | (740,724) | $ 50,500 | (403,425) | (407) | (387,392) |
Net loss | (452,035) | ||||
Balance, shares at May. 31, 2020 | 50,500,011 | ||||
Balance, amount at May. 31, 2020 | (1,111,079) | $ 50,500 | (322,135) | (17) | (839,427) |
Balance, shares at Nov. 30, 2019 | 50,500,011 | ||||
Balance, amount at Nov. 30, 2019 | (737,569) | $ 50,500 | (322,135) | (861) | (465,073) |
Net loss | (165,008) | 0 | 0 | 0 | (165,008) |
Foreign currency translation adjustment | (159) | $ 0 | 0 | (159) | 0 |
Balance, shares at Feb. 29, 2020 | 50,500,011 | ||||
Balance, amount at Feb. 29, 2020 | (902,736) | $ 50,500 | (322,135) | (1,020) | (630,081) |
Net loss | (209,346) | 0 | 0 | 0 | (209,346) |
Foreign currency translation adjustment | 1,003 | $ 0 | 0 | 1,003 | 0 |
Balance, shares at May. 31, 2020 | 50,500,011 | ||||
Balance, amount at May. 31, 2020 | $ (1,111,079) | $ 50,500 | $ (322,135) | $ (17) | $ (839,427) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
May 31, 2020 | May 31, 2019 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (452,035) | $ (23,568) |
Changes in operating net assets and liabilities - | ||
VAT receivable | (11,088) | 0 |
Accounts payable and accrued expenses | (4,145) | 602 |
Other payables - related parties | 0 | 36,742 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | (467,268) | 13,776 |
INVESTING ACTIVITIES: | ||
Computer Software development costs | 0 | (13,776) |
NET CASH USED IN INVESTING ACTIVITIES | 0 | (13,776) |
FINANCING ACTIVITIES: | ||
Proceeds from related party loans | 486,074 | 28,243 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 486,074 | 28,243 |
EFFECT OF FOREIGN CURRENCY TRANSLATION | 390 | 0 |
NET INCREASE IN CASH AND RESTRICTED CASH | 19,196 | 28,243 |
CASH - BEGINNING OF PERIOD | 15,691 | 468 |
CASH - END OF PERIOD | 34,887 | $ 28,711 |
SUPPLEMENTAL CASHFLOW INFORMATION: | ||
Cash paid for: | ||
Income tax | 0 | $ 0 |
Interest | 0 | 0 |
NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Forgiveness of related party loan | 81,290 | 0 |
Due to related party for acquisition of intangible asset | $ 0 | $ 500,000 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 9 Months Ended |
May 31, 2020 | |
ORGANIZATION AND NATURE OF BUSINESS | |
NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS | Boatim Inc. formerly known as Emerald Data Inc. (“we”, “our, “Boatim”, the “Company”) is a for profit corporation established under the corporate laws of the State of Nevada on August 15, 2014. On January 24, 2019 the Company´s board and shareholders passed a motion to change the Company name to “BOATIM INC.” Its fiscal year end is August 31. On November 07, 2019, the Company’s Board of Directors approved a 3 for 1 reverse stock Split. The current financial statements as well as prior year’s financial statements have been retroactively adjusted to reflect the reverse stock split. Boatim, Inc. established Boatim Europe S.L. (“Boatim Europe”) as a private limited company pursuant to the laws of the Spain on December 18, 2019, with the Company having ownership of one hundred percent of the issued and outstanding membership interests of Boatim Europe. Boatim Europe is currently structured as a wholly owned subsidiary of the Company. Boatim Europe commenced operations in February 2020 and intends to engage in the business of providing software development and consulting for the boat industry. Originally in the business of producing and distributing furniture, the business was changed to online food blogging as a promotion channel for restaurants, bars and fine dining. Additionally, we are expanding into the boating industry by acquiring and further developing the Company trading platform. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
May 31, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Principles of Consolidation The Company prepares its consolidated financial statements on the accrual basis of accounting. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, all of which have a fiscal year end of August 31. All intercompany accounts, balances and transactions have been eliminated in the consolidation. Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended August 31, 2019 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. The unaudited interim financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the nine months ended May 31, 2020 are not necessarily indicative of the results that may be expected for the year ending August 31, 2020. Foreign Currency Assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at the respective rates of exchange prevailing at the end of the reporting period. Income and expense accounts are translated at average exchange rates prevailing during the reporting period. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive (loss) income (“AOCI”) and will be included as income or expense only upon sale or liquidation of the underlying entity or asset. Generally, all of the Company’s non-U.S. subsidiaries use their local currency as their functional currency. Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amount of revenues and expenses during the reporting period. The management makes its best estimate of the outcome for these items based on information available when the financial statements are prepared. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. ASU 2016-02 requires a modified retrospective transition approach for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, and provides certain practical expedients that companies may elect including those contained in ASU 2018-01, "Leases (Topic 842): Lease Easement Practical Expedient for Transition to Topic 842". This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years with early adoption permitted. The Company adopted this ASU and there was no impact to the consolidated financial statements and related. On December 18, 2019, the FASB issued ASU 2019-12, which modifies ASC 740 to simplify the accounting for income taxes. The ASU’s amendments are based on changes that were suggested by stakeholders as part of the FASB’s simplification initiative (i.e., the Board’s effort to reduce the complexity of accounting standards while maintaining or enhancing the helpfulness of information provided to financial statement users. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company is evaluating the impact of this on its consolidated financial statements. On January 16, 2020, the FASB issued ASU 2020-01 in response to an EITF consensus. The ASU makes improvements related to the following two topics: (a) Accounting for certain equity securities when the equity method of accounting is applied or discontinued — The ASU clarifies that “an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method.” (b) Scope considerations related to forward contracts and purchased options on certain securities — The ASU clarifies that “for the purpose of applying paragraph 815-10- 15-141(a) an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option in accordance with the financial instruments guidance in Topic 825.” This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is evaluating the impact of this on its consolidated financial statements. |
GOING CONCERN
GOING CONCERN | 9 Months Ended |
May 31, 2020 | |
GOING CONCERN | |
NOTE 3 - GOING CONCERN | The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. However, the Company had no revenues and incurred recurring losses. In addition, the Company has a negative working capital and has not completed its efforts to establish a stable source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on borrowings from related parties to fund operating expenses. In light of management’s efforts, there are no assurances that the Company will be successful in any of its endeavors or become financially viable and continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might result from this uncertainty. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
May 31, 2020 | |
RELATED PARTY TRANSACTIONS | |
NOTE 4 - RELATED PARTY TRANSACTIONS | Mr. Robert Glass, a lawyer, is providing services free of charge from time to time, such services involving advice on accounting matters and processing of information for reporting services. The Chief Technology Officer of the Company, Mr. Patrick Heneise is also the owner of Zentered OÜ (fka Heneise Consulting OÜ. Zentered has provided software development and maintenance services and has billed approximately $23,213 during the nine months ended May 31, 2020. On September 12, 2019, Veng Kun Lun, an officer and director of the Company, forgave all amounts due to him from the Company, totaling $81,290, which was recorded as additional paid in capital. As of May 31, 2020, the Company owed a total of $1,119,334 to a related party. Related party loans consist of $619,334 due to Cayo Ventures GmbH for payment related to software development, accounting, transfer agent and legal fees. Cayo Ventures GmbH is owned by the former majority shareholder and former officer, Mr. Yves Toelderer. These loans are unsecured, non-interest bearing and due on demand. During the year ended August 31, 2019, the Company issued a note in the amount of $500,000 to a former majority shareholder and former officer, Mr. Yves Toelderer for the purchase of the Boatim software platform. The note matured, on January 23, 2020. The Company has renegotiated the note, which is now due by January 23, 2021. The Company was never considered to be in default. The note is unsecured and bears no interest. On December 12, 2019, Mr. Yves Toelderer transferred 32,766,667 (post reverse stock split) shares of common stock representing the entire control block, of 64.88% ownership, to JTT Global Ventures Ltd, a British Virgin Island based holding company, against JTT Global Ventures Ltd. assuming all obligations against New Million Global Holdings Ltd. under the promissory note. |
COMMON STOCK
COMMON STOCK | 9 Months Ended |
May 31, 2020 | |
COMMON STOCK | |
NOTE 5 - COMMON STOCK | On January 23, 2019 the Company´s board and shareholders had passed a motion that a 1:3 reverse split of the Company´s common stock should be performed. The stock split was affected on November 07, 2019. All share amounts have been retroactively adjusted to reflect the reverse stock split. As of May 31, 2020, a total of 50,500,011 shares of common stock were issued and outstanding. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
May 31, 2020 | |
SUBSEQUENT EVENTS | |
NOTE 6 - SUBSEQUENT EVENTS | During the period June 01, 2020 thru July 15, 2020, Cayo Ventures advanced a total $80,000 to the Company for payment of operating expenses. These loans are unsecured, non-interest bearing and due on demand. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
May 31, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Principles of Consolidation | The Company prepares its consolidated financial statements on the accrual basis of accounting. The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, all of which have a fiscal year end of August 31. All intercompany accounts, balances and transactions have been eliminated in the consolidation. |
Basis of Presentation | The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for financial information and with the instructions to Form 10-Q. They do not include all information and footnotes required by United States generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material changes in the information disclosed in the notes to the financial statements for the year ended August 31, 2019 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. The unaudited interim financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of Management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended February 29, 2020 are not necessarily indicative of the results that may be expected for the year ending August 31, 2020. |
Foreign Currency | Assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at the respective rates of exchange prevailing at the end of the reporting period. Income and expense accounts are translated at average exchange rates prevailing during the reporting period. Translation adjustments resulting from this process are recorded directly in equity as accumulated other comprehensive (loss) income (“AOCI”) and will be included as income or expense only upon sale or liquidation of the underlying entity or asset. Generally, all of the Company’s non-U.S. subsidiaries use their local currency as their functional currency. |
Use of Estimates | The preparation of the consolidated financial statements in conformity with generally accepted accounting principles 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 of the financial statements and the reported amount of revenues and expenses during the reporting period. The management makes its best estimate of the outcome for these items based on information available when the financial statements are prepared. Actual results could differ from those estimates. |
Recently Adopted Accounting Pronouncements | In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to recognize right-of-use assets and lease liability, initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either financing or operating leases. ASU 2016-02 requires a modified retrospective transition approach for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, and provides certain practical expedients that companies may elect including those contained in ASU 2018-01, "Leases (Topic 842): Lease Easement Practical Expedient for Transition to Topic 842". This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years with early adoption permitted. The Company adopted this ASU and there was no impact to the consolidated financial statements and related. On December 18, 2019, the FASB issued ASU 2019-12, which modifies ASC 740 to simplify the accounting for income taxes. The ASU’s amendments are based on changes that were suggested by stakeholders as part of the FASB’s simplification initiative (i.e., the Board’s effort to reduce the complexity of accounting standards while maintaining or enhancing the helpfulness of information provided to financial statement users. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company is evaluating the impact of this on its consolidated financial statements. On January 16, 2020, the FASB issued ASU 2020-01 in response to an EITF consensus. The ASU makes improvements related to the following two topics: (a) Accounting for certain equity securities when the equity method of accounting is applied or discontinued — The ASU clarifies that “an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method.” (b) Scope considerations related to forward contracts and purchased options on certain securities — The ASU clarifies that “for the purpose of applying paragraph 815-10- 15-141(a) an entity should not consider whether, upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in Topic 323 or the fair value option in accordance with the financial instruments guidance in Topic 825.” This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is evaluating the impact of this on its consolidated financial statements. |
ORGANIZATION AND NATURE OF BU_2
ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) | Nov. 07, 2019 | Jan. 23, 2019 |
ORGANIZATION AND NATURE OF BUSINESS | ||
Stockholders' equity reverse stock split | 3:1 | 1:3 reverse split |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | Dec. 12, 2019 | Sep. 12, 2019 | May 31, 2020 | May 31, 2019 | Aug. 31, 2019 |
Due to related parties | $ 1,119,334 | ||||
Forgiveness of related party debt | 81,290 | $ 0 | |||
Mr. Yves Toelderer [Member] | |||||
Due to related party for acquisition of intangible asset | $ 0 | $ 500,000 | |||
Intangible assets acqusition description | The note matured, on January 23, 2020. The Company has renegotiated the note, which is now due by January 23, 2021. | ||||
Mr. Yves Toelderer [Member] | New Million Global Holdings Ltd. [Member] | |||||
Common stock, shares transferred, debt settlement | 32,766,667 | ||||
Ownership percentage | 64.88% | ||||
Mr. Veng Kun Lun [Member] | |||||
Forgiveness of related party debt | $ 81,290 | $ 0 | $ 0 | ||
Mr. Patrick Heneise [Member] | |||||
Software development costs | 23,213 | ||||
Cayo Ventures [Member] | |||||
Due to related parties | $ 619,334 |
COMMON STOCK (Details Narrative
COMMON STOCK (Details Narrative) - shares | Nov. 07, 2019 | Jan. 23, 2019 | May 31, 2020 | Aug. 31, 2019 |
COMMON STOCK (Details Narrative) | ||||
Stockholders' equity reverse stock split | 3:1 | 1:3 reverse split | ||
Common stock, shares outstanding | 50,500,011 | 50,500,011 | ||
Common stock, shares issued | 50,500,011 | 50,500,011 |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | |
Jul. 15, 2020 | May 31, 2020 | May 31, 2019 | |
Advance from related party | $ 486,074 | $ 28,243 | |
Subsequent Event [Member] | Cayo Ventures [Member] | |||
Advance from related party | $ 80,000 |