Cover
Cover | 12 Months Ended |
Aug. 31, 2022 | |
Entity Addresses [Line Items] | |
Document Type | S-1 |
Amendment Flag | false |
Entity Registrant Name | EvoAir Holdings Inc. |
Entity Central Index Key | 0001700844 |
Entity Tax Identification Number | 36-4838886 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 31-A2, Jalan 5/32A |
Entity Address, Address Line Two | 6 ½ Miles |
Entity Address, Address Line Three | Off Jalan |
Entity Address, City or Town | Kepong |
Entity Address, Country | MY |
Entity Address, Postal Zip Code | 52000 |
City Area Code | 603 |
Local Phone Number | 6243 3379 |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Business Contact [Member] | |
Entity Addresses [Line Items] | |
Entity Address, Address Line One | 122 East 42nd Street |
Entity Address, Address Line Two | 18th Floor |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10168 |
City Area Code | 212 |
Local Phone Number | 947-7200 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 152,304 | $ 1,714,890 |
Account receivables | 85,960 | 127,802 |
Inventories | 618,996 | 142,519 |
Deposit, prepayments and other receivables | 831,666 | 1,239,561 |
Total current assets | 1,688,926 | 3,224,772 |
Non-current assets | ||
Property, plant and equipment, net | 602,755 | 136,598 |
Operating lease right-of-use assets | 442,020 | |
Technology-related intangible assets, net | 80,376,175 | |
Total non-current assets | 81,420,950 | 136,598 |
TOTAL ASSETS | 83,109,876 | 3,361,370 |
Current liabilities | ||
Accounts payable and accruals | 216,830 | 111,894 |
Other payables | 31,980 | 33,078 |
Deferred revenue | 513,072 | 426,777 |
Hire purchase creditor | 10,135 | 6,861 |
Financial liability - Convertible Bonds | 1,007,999 | |
Operating lease liability - current | 117,686 | |
Total current liabilities | 892,004 | 1,639,090 |
Non-current liabilities | ||
Non-current hire purchase creditor | 18,207 | 26,789 |
Non-current operating lease liabilities | 355,186 | |
Total non-current liabilities | 373,393 | 26,789 |
TOTAL LIABILITIES | 1,265,397 | 1,665,879 |
Commitments and contingencies (Note 16) | ||
Shareholders’ equity | ||
Common stock, 1,000,000,000 authorized; $0.001 par value, 101,853,397 and 2,970,000 shares issued and outstanding as at August 31, 2022 and August 31, 2021 | 101,854 | 2,970 |
Additional paid in capital | 89,125,872 | 2,890,471 |
Shares to be issued | 75,000 | 861,883 |
Accumulated other comprehensive income | 65,880 | 5,696 |
Accumulated deficit | (7,465,373) | (2,233,496) |
Non-controlling interest | (58,754) | 167,967 |
Total shareholders’ equity | 81,844,479 | 1,695,491 |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 83,109,876 | 3,361,370 |
Related Party [Member] | ||
Current liabilities | ||
Amounts due to shareholders | $ 2,301 | $ 52,481 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Aug. 31, 2022 | Dec. 20, 2021 | Dec. 16, 2021 | Dec. 15, 2021 | Aug. 31, 2021 |
Statement of Financial Position [Abstract] | |||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | 75,000,000 | 1,000,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares issued | 101,853,397 | 101,779,323 | 2,970,000 | ||
Common stock, shares outstanding | 101,853,397 | 101,779,323 | 2,970,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Income Statement [Abstract] | ||
Revenue | $ 1,190,616 | $ 774,805 |
Cost of revenue | 952,228 | 503,116 |
Gross profit | 238,388 | 271,689 |
Operating expenses: | ||
Selling and marketing expenses | 41,171 | 31,663 |
General and administrative expenses | 4,814,868 | 1,382,015 |
Total operating expenses | 4,856,039 | 1,413,678 |
Loss from operation | (4,617,651) | (1,141,989) |
Other income/(expense) | ||
Interest expense | (1,005,498) | (25,659) |
Other income | 66,522 | 2,623 |
Total other income/(expense) | (938,976) | (23,036) |
Loss from operation before income taxes | (5,556,627) | (1,165,025) |
Income tax expenses | ||
Net loss | (5,556,627) | (1,165,025) |
Less: Net loss attributable to non-controlling interests | 324,750 | 80,139 |
Net loss attributable to equity holders of the Company | (5,231,877) | (1,084,886) |
Other comprehensive income: | ||
Foreign currency translation adjustment | 87,731 | 21,043 |
Total comprehensive loss | (5,144,146) | (1,063,843) |
Less: net comprehensive income attributable to non-controlling interests | 27,547 | 1,971 |
Net comprehensive loss attributable to equity holders of the Company | $ (5,116,599) | $ (1,061,872) |
Net loss attributable to equity holders of the Company per common share: | ||
Basic and diluted | $ (0.08) | $ (0.37) |
Weighted average number of common shares outstanding: | ||
Basic and diluted | 62,181,538 | 2,970,000 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Shares To Be Issued [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Aug. 31, 2020 | $ 2,970 | $ 730,814 | $ (13,376) | $ (1,148,610) | $ (428,202) | ||
Beginning balance, shares at Aug. 31, 2020 | 2,970,000 | ||||||
Forgiveness of loan from related party and stock refund payable | 13,292 | 13,292 | |||||
Capital contribution | 2,146,365 | 246,135 | 2,392,500 | ||||
Issuance of common stock for Cash | 861,883 | 861,883 | |||||
Foreign currency translation adjustment | 19,072 | 1,971 | 21,043 | ||||
Net loss | (1,084,886) | (80,139) | (1,165,025) | ||||
Ending balance, value at Aug. 31, 2021 | $ 2,970 | 2,890,471 | 5,696 | (2,233,496) | 861,883 | 167,967 | 1,695,491 |
Ending balance, shares at Aug. 31, 2021 | 2,970,000 | ||||||
Capital contribution | 129,363 | 70,482 | 199,845 | ||||
Issuance of common stock for Cash | 14,518 | 1,032,550 | (786,883) | 260,185 | |||
Foreign currency translation adjustment | 60,184 | 27,547 | 87,731 | ||||
Net loss | (5,231,877) | (324,750) | (5,556,627) | ||||
Beneficial conversion feature on financial liability -convertible bonds | 1,005,645 | 1,005,645 | |||||
Issuance of common stock for convertible bonds | $ 1,116 | 1,003,326 | 1,004,442 | ||||
Issuance of common stock for Convertible Bonds, shares | 1,116,055 | ||||||
Issuance of common stock pursuant to share exchange agreement | $ 102 | (102) | |||||
Issuance of common stock pursuant to share exchange agreement, shares | 102,000 | ||||||
Issuance of common stock for Intellectual Assets | $ 83,148 | 83,064,619 | $ 83,147,767 | ||||
Issuance of common stock for Intellectual Assets, shares | 83,147,767 | ||||||
Issuance of common stock for Cash, shares | 14,517,575 | 74,074 | |||||
Ending balance, value at Aug. 31, 2022 | $ 101,854 | $ 89,125,872 | $ 65,880 | $ (7,465,373) | $ 75,000 | $ (58,754) | $ 81,844,479 |
Ending balance, shares at Aug. 31, 2022 | 101,853,397 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Cash flows from operating activities | ||
Net loss | $ (5,556,627) | $ (1,165,025) |
Adjustments for non-cash income and expenses: | ||
Depreciation | 95,158 | 25,414 |
Amortization | 2,854,953 | |
Beneficial conversion feature of convertible bonds | 1,005,645 | |
Changes in operating assets and liabilities: | ||
Decrease / (Increase) in accounts receivables | 41,842 | (88,652) |
Increase in inventories | (476,477) | (48,378) |
Decrease/ (Increase) in deposit, prepayments and advances to suppliers | 407,895 | (1,185,426) |
Increase in operating lease right-of-use assets | (525,381) | |
Increase in accounts payable and accruals | 104,936 | 95,475 |
Increase in deferred revenue | 86,295 | 426,777 |
Decrease in stock refund payable | (1,950) | |
Increase in operating lease liabilities | 472,872 | |
Decrease in other payables | (1,098) | (54,753) |
Decrease in amounts due to related party | (50,180) | (4,735) |
Net cash used in operations | (1,540,167) | (2,001,253) |
Cash flows from investing activity | ||
Purchase of property and equipment | (561,315) | (94,045) |
Net cash used in investing activity | (561,315) | (94,045) |
Cash flows from financing activities | ||
Proceeds from hire purchase | 33,650 | |
Payments of hire purchase | (5,308) | |
Proceeds from issuance of common stock | 185,185 | |
Proceeds from shares to be issued | 75,000 | 861,883 |
Proceeds from capital contribution | 199,845 | 2,392,500 |
Net cash generated from financing activities | 454,722 | 3,288,033 |
Net (decrease)/increase in cash and cash equivalents | (1,646,760) | 1,192,735 |
Effect of exchange rate changes | 84,174 | 31,838 |
Cash and cash equivalents at start of year | 1,714,890 | 490,317 |
Cash and cash equivalents at end of year | 152,304 | 1,714,890 |
Supplemental disclosure of non-cash investing and financing information : | ||
Common stock issued for technology-related intangible assets | 83,147,767 | |
Common stock issued for convertible bonds | 1,007,999 | |
Increase in additional paid in capital due to forgiveness of loan from related party and stock refund payable | $ 13,292 |
ORGANIZATION AND BUSINESS OPERA
ORGANIZATION AND BUSINESS OPERATIONS | 12 Months Ended |
Aug. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND BUSINESS OPERATIONS | NOTE 1 – ORGANIZATION AND BUSINESS OPERATIONS EvoAir Holdings Inc., (formerly Unex Holdings Inc.) (the “Company”, “EVOH”, “we”, “us”, or “our”) is a corporation established under the corporation laws in the State of Nevada on February 17, 2017. The Company has adopted an August 31 fiscal year end. On December 20, 2021, the Company and Low Wai Koon (“Dr. Low”) entered into a share transfer agreement, (the “EvoAir International Share Transfer Agreement”), pursuant to which Dr. Low agreed to sell all of his ordinary shares of EvoAir International Limited (“EvoAir International”) to the Company for the consideration of US$ 100 Pursuant to the terms of a share transfer agreement dated December 20, 2021, Dr. Low, the then sole executive officer and director of the Company and the owner of 2,000,000 67.34% 100 2,000,000 67.34% On December 20, 2021, several transactions took place (together, the “Allotment Transactions”) whereby the Company issued and allotted in aggregate 98,809,323 101,779,323 (A) On December 20, 2021, Dr. Low and Chan Kok Wei entered into a share exchange agreement with WKL Eco Earth Holdings, pursuant to which Dr. Low and Chan Kok Wei agreed to sell all their ordinary shares of WKL Green Energy to WKL Eco Earth Holdings in consideration for the allotment and issuance to WKL Global Limited and Allegro Investment (BVI) Limited of 24,000 6,000 0.02% 0.01% (B) On December 20, 2021, Dr. Low, Chan Kok Wei, Ong Bee Chen and certain sellers (“WKLEE Sellers”) entered into a share exchange agreement with WKL Eco Earth Holdings, pursuant to which Dr. Low, Chan Kok Wei, Ong Bee Chen and WKLEE Sellers agreed to sell all their ordinary shares of WKL Eco Earth to WKL Eco Earth Holdings in consideration for the allotment and issuance to WKL Global Limited, Allegro Investment (BVI) Limited and WKLEE Sellers of 49,320 8,280 14,400 0.05% 0.009% 0.014% (C) On December 20, 2021, Tan Soon Hock, Ivan Oh Joon Wern and certain relevant interest holders (“Relevant Interest Holders”) entered into an investment exchange agreement with WKL Eco Earth Holdings, pursuant to which the Tan Soon Hock, Ivan Oh Joon Wern and the Relevant Interest Holders agreed to sell all relevant interests in the EvoAir Group to WKL Eco Earth Holdings in consideration for the allotment and issuance of 7,037,762 2,520,000 6,001,794 6.91% 2.48% 5.90% (D) On December 20, 2021, Dr. Low entered into two deeds of assignment of intellectual properties with WKL Eco Earth Holdings, in respect of Dr. Low’s patents relating to eco-friendly air-conditioner condenser (external unit), EvoAir TM TM 63,362,756 14,297,259 5,487,752 62.25% 14.05% 5.39% EvoAir Transaction, Change of Control Transaction and Allotment Transactions are collectively to be referred to as the “Transactions”. The closing of the Transaction (the “Closing”) occurred on December 20, 2021 (the “Closing Date”). From and after the Closing Date, at which time EvoAir International transferred its HVAC business to the Company, the Company’s primary operations will consist of the prior operations of EvoAir International. EvoAir International is a company incorporated in the British Virgin Islands on November 17, 2021. Effective from the December 20, 2021, it wholly owned WKL Eco Earth Holdings, a company incorporated in Singapore on July 12, 2018, which in turn wholly owns a) WKL Eco Earth, a Malaysian company incorporated on May 17, 2017, and b) WKL Green Energy a Malaysian company incorporated on October 24, 2017. WKL Eco Earth Holdings acquired (c) EvoAir Manufacturing on April 19, 2021, a Malaysian company incorporated on March 22, 2019, as well as acquiring (d) WKL EcoEarth Indochina, a Cambodia company incorporated on February 4, 2021 (e) WKL Guanzhe Green Technology Guangzhou, a Chinese company incorporated in April 6, 2021 and (f) Evo Air Marketing, a Malaysian company incorporated in February 2, 2021, is a wholly owned subsidiary of EvoAir Manufacturing. On June 15, 2022, the Company filed a Certificate of Amendment (the “Amendment”) to the Articles of Incorporation with Nevada’s Secretary of State to change the name of the Company from Unex Holdings Inc. to EvoAir Holdings Inc. (the “Name Change”), and the Name Change became market effective on November 4, 2022. Effective on November 11, 2022, the Company’s shares began trading under the new ticker symbol “EVOH”. The Company consolidates the following subsidiaries: SUMMARY OF CONSOLIDATED SUBSIDIARIES Subsidiaries of EVOH Attributable interest EvoAir International Limited (British Virgin Islands) 100 % Subsidiary of EvoAir International Limited WKL Eco Earth Holdings Pte Ltd (Singapore) 100 % Subsidiaries of WKL Eco Earth Holdings Pte Ltd WKL Eco Earth Sdn Bhd(Malaysia) 100 % WKL Green Energy Sdn Bhd (Malaysia) 100 % EvoAir Manufacturing (M) Sdn Bhd (Malaysia) 67.5 % WKL EcoEarth Indochina Co Ltd (Cambodia) 55 % WKL Guanzhen Green Technology Guangzhou Co Ltd (China) 55 % Subsidiary of EvoAir Manufacturing (M) Sdn Bhd Evo Air Marketing (M) Sdn Bhd (Malaysia) 100 % |
CHANGE OF CONTROL
CHANGE OF CONTROL | 12 Months Ended |
Aug. 31, 2022 | |
Change Of Control | |
CHANGE OF CONTROL | NOTE 2 – CHANGE OF CONTROL Pursuant to the terms of a share transfer agreement dated December 20, 2021, Dr. Low, the then sole executive officer and director of the Company and the owner of 2,000,000 restricted shares of Common Stock of the Company, representing 67.34 % of the Then Enlarged Share Capital, sold his entire shareholding of the Company to WKL Global for an aggregate consideration of $ 100 . Upon completion of the Change of Control Transaction, WKL Global Limited then owned 2,000,000 shares of Common Stock, or approximately 67.34 % of Then Enlarged Share Capital, which resulted in a change of control of the Company. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Aug. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s financial statements as of August 31, 2022, is prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established a sustainable ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. As of August 31, 2022, and August 31, 2021, the Company had an accumulated deficit of $ 7,465,373 2,233,496 5,231,877 1,084,886 1,540,167 2,001,253 With the injection of a viable business into the Company (“New Business”) contemplated under the Transaction (defined in Note 1), the Management believes that the actions to be taken by the new Management to further implement the business plans for the New Business including expansion in product offerings, geographical expansion, generate revenue through expansion of revenue streams and customer base (retail, commercial and industrial as well as private label and licensing clientele), improvement of profitability by achieving economies of scale provide the opportunity for the Company to continue as a going concern. In addition, the Company is also working on raising additional funding to finance the operations as well as business expansion. The consolidated financials have been prepared assuming that the Company will continue as a going concern and, accordingly financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 4 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared by EVOH and its subsidiaries (the “Group” or “EvoAir Group”) in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of EvoAir International, WKL Eco Earth Holdings, WKL Eco Earth, WKL Green Energy, and its 67.5 100 55 55 As WKL Eco Earth and WKL Green Energy were under common control at the time of the Transaction, it is required under U.S. GAAP to account for this common control acquisition in a manner similar to the pooling of interest method of accounting. Under this method of accounting, EVOH’s consolidated balance sheets as of August 31, 2022, and August 31, 2021, reflect WKL Eco Earth and WKL Green Energy on a historical carryover basis in the assets and liabilities instead of reflecting the fair market value of the assets and liabilities. All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of the Management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with U.S. GAAP. The non-controlling interests are presented in the consolidated balance sheets, separately from equity attributable to the stockholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the consolidated statements of operations and comprehensive loss as an allocation of the total loss for the year between non-controlling interest holders and the stockholders of the Company. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. Key estimates in the accompanying consolidated financial statements include, among others, revenue recognition, allowances for doubtful accounts and product returns, provisions for obsolete inventory, valuation of long-lived assets and Rights of Use (“ROU”) assets (including lease liabilities), and deferred income tax asset valuation allowances. Actual results could differ materially from these estimates. Fiscal Year End The Company operates on a fiscal year basis with the fiscal year ending on August 31. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. The Company places its cash with a high credit quality financial institution. WKL Guanzhe business is primarily conducted in China and substantially all of revenues are denominated in RMB. The government of People’s Republic of China (“PRC”) imposes control over its foreign currency reserves in part through direct regulation of the conversion of RMB into foreign exchange and through restrictions on foreign trade. Comprehensive Gain or Loss ASC 220 “Comprehensive Income,” establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As of August 31, 2022, and August 31, 2021, the Company established that there are items that represented components of comprehensive income and, therefore, has included a statement of comprehensive income in the financial statements. Beneficial Conversion Features (“BCF”) In accordance with FASB ASC 470-20, “Debt with Conversion and Other Options”, the BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds equal to the intrinsic value of that feature to additional paid-in capital. The intrinsic value is generally calculated at the commitment date as the difference between the conversion price and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. If certain other securities are issued with the convertible security, the proceeds are allocated among the different components. The portion of the proceeds allocated to the convertible security is divided by the contractual number of the conversion shares to determine the effective conversion price, which is used to measure the BCF. The effective conversion price is used to compute the intrinsic value. The value of the BCF is limited to the basis that is initially allocated to the convertible security. Foreign Currency Translation The functional currency of Chinese operations is Chinese Renminbi, (“RMB”). The functional currency of the Company’s Singapore operations is Singapore dollars (“SGD”). The functional currency of the Company’s Malaysia operations is Ringgit Malaysia (“RM”). Management has adopted ASC 830 “Foreign Currency Matters” for transactions that occur in foreign currencies. Monetary assets denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Average monthly rates are used to translate revenues and expenses. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange gains or losses arising from foreign currency transactions are included in the determination of net income for the respective periods. Assets and liabilities of the Company’s operations are translated into the reporting currency, United States Dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods. Equity transactions are recorded at the historical rate when the transaction occurred. The resulting translation adjustment is reflected as accumulated other comprehensive income, a separate component of stockholders’ equity in the statement of stockholders’ equity. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the net value of face amount less any allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in our existing accounts receivable. An allowance for doubtful accounts is recorded in the period when loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging and other factors. The Company reviews the allowance for doubtful accounts on a regular basis, and all past due balances are reviewed individually for collectability. An account receivable is written off after all collection effort has ceased. Recoveries of receivables previously written off are recorded when received. Interest is not charged on past due accounts. As of August 31, 2022, and August 31, 2021, our accounts receivable amounted to $ 85,960 127,802 Inventories Inventories consist primarily of finished goods, raw materials, and work-in-process (“WIP”) from WKL Eco Earth, WKL EcoEarth Indochina, WKL Guanzhe, and EvoAir Manufacturing. We value inventory at the lower of cost or net realizable value. We determine the cost of inventory using the standard cost method, which approximates actual cost based on a first-in, first-out method. All other costs, including administrative costs, are expensed as incurred. Deposit, prepayments, and other receivables Deposit, prepayments and other receivables are comprised of prepayments paid to vendors to initiate orders and prepaid services fees and are classified as current assets if such amounts are to be recognized within one year from the balance sheet date. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related capitalized assets. Property and equipment are depreciated over 5 10 SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS Useful lives Plant and machineries 5 years Office equipment 5 years Vehicles 5 years Furniture and equipment 10 years Renovation 10 years Repair and maintenance costs are charged to expense as incurred. At the time of retirement or other disposition of property, plant and equipment, the cost and accumulated depreciation will be removed from the accounts and the resulting gain or loss, if any, will be reflected in operations. Intangible Assets and Other Long-Lived Assets The Company’s intangible assets consist of patents and trademarks related to assignments of intellectual properties by Dr. Low into WKL Eco Earth Holdings under the IP Assignments as contemplated in Note 1. The intangible assets are recorded at fair market value and are amortized using the straight-line method over an estimated life of 20 years Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value. Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company does not disaggregate its revenue streams as the economic factors underlying the contracts are similar and provide no significant distinction. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Deferred Revenue The Company collects deposits from customers in advance for some business contracts. The customer payments received in advance are recorded as deferred revenue on the balance sheet. The deferred revenue of $ 426,777 513,072 112,176 Leases We have entered into operating agreements primarily for office and factory. We determine if an arrangement is a lease at inception. For all classes of underlying assets, we elect not to recognize right of use assets or lease liabilities when a lease has a lease term of 12 months or less at the commencement date and does not include an option to purchase the underlying asset that we are reasonably certain to exercise. Operating lease assets and liabilities are included on our consolidated balance sheet as of August 31, 2022. Operating lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is our incremental borrowing rate, because the interest rate implicit in most of our leases is not readily determinable. Our incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Operating lease assets also include any prepaid lease payments and lease incentives. Our lease terms include periods under options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We generally use the base, non-cancellable, lease term when determining the lease assets and liabilities. Operating lease expense is recognized on a straight-line basis over the lease term. Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We combine fixed payments for non-lease components with our lease payments and account for them together as a single lease component, which increases the amount of our lease assets and liabilities. Income Taxes The Company utilizes ASC Topic 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. Measurement of Fair Value The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined in the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Earnings (Loss) per Share The Company computes basic and diluted earnings (loss) per share amounts in accordance with ASC Topic 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. As of August 31, 2022, the Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. Recently Issued Accounting Pronouncements Except for rules and interpretive releases of the U.S. Securities and Exchange Commission (“SEC”) under the authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company’s present or future financial statements. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 adds a current expected credit loss (“CECL”) impairment model to U.S. GAAP that is based on expected losses rather than incurred losses. Modified retrospective adoption is required with any cumulative-effect adjustment recorded to retained earnings as of the beginning of the period of adoption. ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, including interim periods within the year of adoption. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company does not expect the application of the CECL impairment model to have a significant impact on its allowance for uncollectible amounts for accounts receivable. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. There is no material impact on the Company’s financial statements. |
INVENTORIES
INVENTORIES | 12 Months Ended |
Aug. 31, 2022 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | NOTE 5 INVENTORIES Inventories consist of the following: SUMMARY OF INVENTORIES August 31, 2022 August 31, 2021 Finished goods $ 385,102 $ 79,306 Raw materials and supplies 162,820 63,213 Work in progress 71,074 - Total inventory on hand $ 618,996 $ 142,519 |
DEPOSIT, PREPAYMENTS AND OTHER
DEPOSIT, PREPAYMENTS AND OTHER RECEIVABLES | 12 Months Ended |
Aug. 31, 2022 | |
Receivables [Abstract] | |
DEPOSIT, PREPAYMENTS AND OTHER RECEIVABLES | NOTE 6 DEPOSIT, PREPAYMENTS AND OTHER RECEIVABLES Deposit, prepayments, and other receivables consists of the following: SCHEDULE OF DEPOSIT PREPAYMENTS AND OTHER RECEIVABLES August 31, 2022 August 31, 2021 Deposits and Prepayment 61,270 15,208 Other receivables (Advances from suppliers) 770,396 1,224,353 Total 831,666 1,239,561 |
PROPERTY, PLANT AND EQUIPMENT,
PROPERTY, PLANT AND EQUIPMENT, NET | 12 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 7 PROPERTY, PLANT AND EQUIPMENT, NET Property, plant, and equipment consist of the following: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT August 31, 2022 August 31, 2021 Plant and machineries $ 464,019 $ - Office equipment 55,587 46,375 Vehicles 71,860 58,247 Furniture and equipment 26,577 23,864 Renovation 134,309 62,551 Property plant and equipment gross 752,352 191,037 Less: Accumulated depreciation (149,597 ) (54,439 ) Property, plant and equipment, net $ 602,755 $ 136,598 Depreciation expense for the year ended August 31, 2021, was $ 25,414 95,158 |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 8 – INTANGIBLE ASSETS The below table summarizes the identifiable intangible assets as of August 31, 2022, and August 31, 2021: SUMMARIZES OF INTANGIBLE ASSETS August 31, 2022 August 31, 2021 Technology 1-Portable Air Cooler $ 27,438,763 $ - Technology 2-Condensing Unit 55,709,004 - Finite- lived intangible assets, gross 83,147,767 - Less: Accumulated amortization (2,771,592 ) - Intangible assets, net $ 80,376,175 $ - Amortization expense for intangible assets for the year ended August 31, 2022, was $ 2,771,592 |
ACCOUNTS PAYABLE, ACCRUALS, AND
ACCOUNTS PAYABLE, ACCRUALS, AND OTHER PAYABLES | 12 Months Ended |
Aug. 31, 2022 | |
Payables and Accruals [Abstract] | |
ACCOUNTS PAYABLE, ACCRUALS, AND OTHER PAYABLES | NOTE 9 ACCOUNTS PAYABLE, ACCRUALS, AND OTHER PAYABLES Account payables and accruals, and other payables consist of the following: SCHEDULE OF ACCOUNTS PAYABLES ACCRUALS AND OTHER PAYABLE August 31, 2022 August 31, 2021 Accounts payable $ 110,782 $ 102,394 Accruals 106,048 9,500 Other payables 31,980 33,078 Total $ 248,810 $ 144,972 |
CONVERTIBLE BONDS
CONVERTIBLE BONDS | 12 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
CONVERTIBLE BONDS | NOTE 10 CONVERTIBLE BONDS Convertible bonds consist of the following: SCHEDULE OF CONVERTIBLE BONDS August 31, 2022 August 31, 2021 Convertible bonds payable to a private investor bearing interest at 10%. Accrued interests are due November 2020. The Company is obligated to issue 66,667 shares of common stock as an inducement on the issuance of this bond upon internal re-organization completion $ - $ 44,601 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 49,383 10 $ - $ 44,601 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 205,762 10 - 185,840 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 1,647 10 - 1,487 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 82,305 10 - 74,336 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 24,692 10 - 22,301 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 205,762 10 - 185,841 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 329,219 10 - 297,345 Convertible bonds payable to a private investor,interest free. The Company issued 205,762 10 - 185,841 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 15,523 10 - 10,407 $ - $ 1,007,999 All accrued interests from above convertible bonds have been settled on November 15, 2020. All principals were converted into a total of 1,116,055 0.9 per share based on 10 1.00 0.90 During the year ended August 31, 2022, upon the completion of the Transactions, the conversion feature has been realized. The Company recorded the beneficial conversion feature of U$ 1,005,645 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Aug. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 11 RELATED PARTY TRANSACTIONS Amounts due to shareholders Amounts due to shareholders are non-interest bearing, unsecured, have no fixed repayment term, and are not evidenced by any written agreement. The Company reported amount due to shareholders of $ 2,301 52,481 ECo Awareness Sdn Bhd ECo Awareness Sdn Bhd is related to a common shareholder. ECo Awareness Sdn Bhd was our main distributor for E-cond Life The sales generated from ECo Awareness Sdn Bhd amounted to $ 22,903 190,640 0 77,830 The purchases from ECo Awareness Sdn Bhd amounted to $ 15,904 70,820 0 70,650 |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 12 Months Ended |
Aug. 31, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | NOTE 12 STOCKHOLDERS’ EQUITY On December 16, 2021, the Company has increased the authorized common stock from 75,000,000 0.001 1,000,000,000 0.001 During the year ended August 31, 2021, a related party forgive a loan and stock refund payable amounting to $ 13,292 During the year ended August 31, 2021, the Company received cash proceeds of $ 2,392,500 861,883 During the year ended August 31, 2022, the Company issued 1,116,055 1,004,442 During the year ended August 31, 2022, the Company issued 83,147,767 During the year ended August 31, 2022, the Company issued 14,443,501 During the year ended August 31, 2022, the Company issued 30,000 72,000 During the year ended August 31, 2022, the Company issued 74,074 0.001 2.50 185,185 6,000,000 2.50 During the year ended August 31, 2022, the Company received cash proceeds of $ 199,845 75,000 30,000 As of August 31, 2022, and August 31, 2021, the Company had 101,853,397 2,970,000 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Aug. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 13 INCOME TAXES The Company’s operating subsidiaries are governed by the Income Tax Law, which is concerning Foreign Investment Enterprises and Foreign Enterprises and various local income tax laws (“the Income Tax Laws”). We are routinely undergoing examinations in the jurisdictions in which we operate. The Company has operations in Singapore, Malaysia, Cambodia, BVI, and China that are subject to taxes in the jurisdictions in which they operate, as follows: Singapore WKL Eco Earth Holdings is incorporated in Singapore, and under the current tax laws of Singapore, its standard corporate income tax rate is 17 Malaysia WKL Eco Earth, WKL Green Energy and Evoair Manufacturing (including its 100 24 Cambodia WKL EcoEarth Indochina is incorporated in Cambodia, and under the current tax laws of Cambodia, its standard corporate tax rate is 20 BVI EvoAir International is incorporated in BVI, and a BVI Business Company is exempt from the BVI income tax. China WKL Guanzhe is incorporated in China. Under the current tax law in the PRC, WKL Guanzhe is subject to the enterprise income tax rate of 25 Due to the Company’s net loss position, there was no provision for income taxes recorded. As a result of the Company’s losses to date, there exists doubt as to the ultimate realization of the deferred tax assets. Accordingly, a valuation allowance equal to the total deferred tax assets has been recorded. Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows: SCHEDULE OF RECONCILIATION BETWEEN THE STATUTORY TAX RATE AND THE ACTUAL PROVISION Twelve Months Ended August 31, 2022 2021 US Statutory rate 21 % 21 % Effect of reconciling items for tax purposes ( 21 )% ( 21 )% Effective income tax rate - % - % The components of net deferred tax assets are as follows: SCHEDULE OF COMPONENTS ON NET DEFERRED TAX ASSET August 31, August 31, Net operating loss carry-forward $ 7,470,000 $ 2,230,000 Less: valuation allowance (7,470,000 ) (2,230,000 ) Net deferred tax asset - - The Company had net operating loss carry forwards for tax purposes of approximately $ 7,470,000 2,230,000 |
ROU ASSET AND LEASES
ROU ASSET AND LEASES | 12 Months Ended |
Aug. 31, 2022 | |
Rou Asset And Leases | |
ROU ASSET AND LEASES | NOTE 14 ROU ASSET AND LEASES A lease is defined as a contract that conveys the right to control the use of identifiable tangible property for a period of time in exchange for consideration. On February 28, 2022, the Company adopted ASC Topic 842 which primarily affected the accounting treatment for operating lease agreements in which the Company is the lessee including the Company’s leases of office and factory. The Company elected to not recognize ROU assets and lease liabilities arising from short-term leases with initial lease terms of twelve months or less (deemed immaterial) on the accompanying consolidated balance sheets. ROU assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on the effective interest, the effective amortization on the lease liability. The lease terms may include options to extend or terminate the lease if it is reasonably certain that the Company will exercise that option. When measuring lease liabilities for leases that were classified as operating leases as of August 31, 2022, the Company discounted lease payments using its estimated incremental borrowing rate of 10 The following is a summary of ROU asset and operating lease liabilities: SUMMARY OF ROU ASSET AND OPERATING LEASE LIABILITIES August 31, 2022 August 31, 2021 Assets: ROU asset $ 442,020 $ - Liabilities: Current: Operating lease liabilities $ 117,686 $ - Non-current Operating lease liabilities 355,186 - Total lease liabilities $ 472,872 $ - As of August 31, 2022, remaining maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES Operating lease 2023 $ 117,686 2024 135,821 2025 112,235 2026 78,291 2027 and thereafter 28,839 Total $ 472,872 |
CONCENTRATIONS
CONCENTRATIONS | 12 Months Ended |
Aug. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATIONS | NOTE 15 CONCENTRATIONS Revenues For the years ended August 31, 2022, and 2021, the following customers comprised more than 10% of total sales: SCHEDULE OF CUSTOMERS COMPRISED OF TOTAL SALES For the years August 31, 2022 August 31, 2021 Customer #1 - 25 % Customer #2 - 21 % Customer #3 27 % - Customer #4 13 % - * Accounted for less than 10% for the period Accounts receivable As of the years ended August 31, 2022, and 2021, the following customers comprised more than 10% of total accounts receivable: SCHEDULE OF CUSTOMERS COMPRISE OF TOTAL ACCOUNTS RECEIVABLE For the year ended August 31, 2022 August 31, 2021 Customer #5 19 % - Customer #1 - 47 % Customer #6 14 % - Customer #2 - 17 % Customer #7 12 % - * Accounted for less than 10 % for the year end Purchases For the years ended August 31, 2022, and 2021, the following vendors comprised more than 10% of total purchases: SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES For the years August 31, 2022 August 31, 2021 Vendor #1 - 45 % Vendor #2 - 35 % Vendor #3 37 % - Vendor #4 18 % - Vendor #5 15 % - Vendor #6 15 % - * Accounted for less than 10% for the period |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Aug. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 16 COMMITMENTS AND CONTINGENCIES Litigation and Claims On October 8, 2021, a filing (the “Filing”) was made with the Kuala Lumpur High Court by a reseller (the “Reseller”) of the Company’s INCU ionic nano copper solution (the “Solution”) and the Reseller’s related party (together with the Reseller, the “Plaintiffs”). The Reseller was authorized by WKL Eco Earth’s sole distributor of the Solution (the “WKL Distributor”) to resell the Solution together with a diffuser with a capacity of not more than 1000ml through a tripartite agreement (the “Tripartite Agreement”) entered into between (a) the Reseller, (b) the WKL Distributor and (c) a solution packaging company (the “Packaging Company”). WKL Eco Earth was not a party to the Tripartite Agreement and did not directly authorize or engage the Reseller in the resale of the Solution. In the Filing, the Plaintiffs claimed against (i) WKL Eco Earth; (ii) Dr. Low; (iii) Chan Kok Wei, (iv) the Packaging Company and (v) two directors of the Packaging Company for loss and damages arising from an alleged breach of contract, defamation and tort of inducement. The Plaintiffs also alleged that pursuant to the Tripartite Agreement, WKL Eco Earth was prohibited from selling the Solution to any party other than the WKL Distributor and allow for the resale of the Solution by the Plaintiffs without limitation, and that the Plaintiffs were not confined in their resale of the Solution to a diffuser with a capacity of not more than 1000ml. The Company believes the claims are without merit and will defend itself against the claims. The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. The outcome of the above case very much depends on the evidence produced and the weight of the Court places on the evidence. As it stands, WKL has a probability of success in its Counterclaim against the parties. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Aug. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 17 SUBSEQUENT EVENTS In accordance with FASB ASC 855-10 Subsequent Events, the Company has analyzed its operations subsequent to August 31, 2022, to the date these consolidated financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements, except as follow: In September 2022, the Company agreed to issue and sell 119,621 0.001 2.50 6,000,000 2.50 299,055 On June 15, 2022, the Company filed a Certificate of Amendment (the “Amendment”) to the Articles of Incorporation with Nevada’s Secretary of State to change the name of the Company from Unex Holdings Inc. to EvoAir Holdings Inc. (the “Name Change”), and the Name Change became market effective on November 4, 2022. Effective on November 11, 2022, the Company’s shares began trading under the new ticker symbol “EVOH”. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation and principles of consolidation | Basis of presentation and principles of consolidation The accompanying consolidated financial statements have been prepared by EVOH and its subsidiaries (the “Group” or “EvoAir Group”) in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of EvoAir International, WKL Eco Earth Holdings, WKL Eco Earth, WKL Green Energy, and its 67.5 100 55 55 As WKL Eco Earth and WKL Green Energy were under common control at the time of the Transaction, it is required under U.S. GAAP to account for this common control acquisition in a manner similar to the pooling of interest method of accounting. Under this method of accounting, EVOH’s consolidated balance sheets as of August 31, 2022, and August 31, 2021, reflect WKL Eco Earth and WKL Green Energy on a historical carryover basis in the assets and liabilities instead of reflecting the fair market value of the assets and liabilities. All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of the Management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with U.S. GAAP. The non-controlling interests are presented in the consolidated balance sheets, separately from equity attributable to the stockholders of the Company. Non-controlling interests in the results of the Company are presented on the face of the consolidated statements of operations and comprehensive loss as an allocation of the total loss for the year between non-controlling interest holders and the stockholders of the Company. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. Key estimates in the accompanying consolidated financial statements include, among others, revenue recognition, allowances for doubtful accounts and product returns, provisions for obsolete inventory, valuation of long-lived assets and Rights of Use (“ROU”) assets (including lease liabilities), and deferred income tax asset valuation allowances. Actual results could differ materially from these estimates. |
Fiscal Year End | Fiscal Year End The Company operates on a fiscal year basis with the fiscal year ending on August 31. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. The Company places its cash with a high credit quality financial institution. WKL Guanzhe business is primarily conducted in China and substantially all of revenues are denominated in RMB. The government of People’s Republic of China (“PRC”) imposes control over its foreign currency reserves in part through direct regulation of the conversion of RMB into foreign exchange and through restrictions on foreign trade. |
Comprehensive Gain or Loss | Comprehensive Gain or Loss ASC 220 “Comprehensive Income,” establishes standards for the reporting and display of comprehensive income and its components in the financial statements. As of August 31, 2022, and August 31, 2021, the Company established that there are items that represented components of comprehensive income and, therefore, has included a statement of comprehensive income in the financial statements. |
Beneficial Conversion Features (“BCF”) | Beneficial Conversion Features (“BCF”) In accordance with FASB ASC 470-20, “Debt with Conversion and Other Options”, the BCF for the convertible instruments is recognized and measured by allocating a portion of the proceeds equal to the intrinsic value of that feature to additional paid-in capital. The intrinsic value is generally calculated at the commitment date as the difference between the conversion price and the fair value of the common stock or other securities into which the security is convertible, multiplied by the number of shares into which the security is convertible. If certain other securities are issued with the convertible security, the proceeds are allocated among the different components. The portion of the proceeds allocated to the convertible security is divided by the contractual number of the conversion shares to determine the effective conversion price, which is used to measure the BCF. The effective conversion price is used to compute the intrinsic value. The value of the BCF is limited to the basis that is initially allocated to the convertible security. |
Foreign Currency Translation | Foreign Currency Translation The functional currency of Chinese operations is Chinese Renminbi, (“RMB”). The functional currency of the Company’s Singapore operations is Singapore dollars (“SGD”). The functional currency of the Company’s Malaysia operations is Ringgit Malaysia (“RM”). Management has adopted ASC 830 “Foreign Currency Matters” for transactions that occur in foreign currencies. Monetary assets denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. Average monthly rates are used to translate revenues and expenses. Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Exchange gains or losses arising from foreign currency transactions are included in the determination of net income for the respective periods. Assets and liabilities of the Company’s operations are translated into the reporting currency, United States Dollars, at the exchange rate in effect at the balance sheet dates. Revenue and expenses are translated at average rates in effect during the reporting periods. Equity transactions are recorded at the historical rate when the transaction occurred. The resulting translation adjustment is reflected as accumulated other comprehensive income, a separate component of stockholders’ equity in the statement of stockholders’ equity. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the net value of face amount less any allowance for doubtful accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in our existing accounts receivable. An allowance for doubtful accounts is recorded in the period when loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging and other factors. The Company reviews the allowance for doubtful accounts on a regular basis, and all past due balances are reviewed individually for collectability. An account receivable is written off after all collection effort has ceased. Recoveries of receivables previously written off are recorded when received. Interest is not charged on past due accounts. As of August 31, 2022, and August 31, 2021, our accounts receivable amounted to $ 85,960 127,802 |
Inventories | Inventories Inventories consist primarily of finished goods, raw materials, and work-in-process (“WIP”) from WKL Eco Earth, WKL EcoEarth Indochina, WKL Guanzhe, and EvoAir Manufacturing. We value inventory at the lower of cost or net realizable value. We determine the cost of inventory using the standard cost method, which approximates actual cost based on a first-in, first-out method. All other costs, including administrative costs, are expensed as incurred. |
Deposit, prepayments, and other receivables | Deposit, prepayments, and other receivables Deposit, prepayments and other receivables are comprised of prepayments paid to vendors to initiate orders and prepaid services fees and are classified as current assets if such amounts are to be recognized within one year from the balance sheet date. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the related capitalized assets. Property and equipment are depreciated over 5 10 SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS Useful lives Plant and machineries 5 years Office equipment 5 years Vehicles 5 years Furniture and equipment 10 years Renovation 10 years Repair and maintenance costs are charged to expense as incurred. At the time of retirement or other disposition of property, plant and equipment, the cost and accumulated depreciation will be removed from the accounts and the resulting gain or loss, if any, will be reflected in operations. |
Intangible Assets and Other Long-Lived Assets | Intangible Assets and Other Long-Lived Assets The Company’s intangible assets consist of patents and trademarks related to assignments of intellectual properties by Dr. Low into WKL Eco Earth Holdings under the IP Assignments as contemplated in Note 1. The intangible assets are recorded at fair market value and are amortized using the straight-line method over an estimated life of 20 years Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If identifiable intangibles are considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the assets exceeds its fair market value. |
Revenue Recognition | Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company does not disaggregate its revenue streams as the economic factors underlying the contracts are similar and provide no significant distinction. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods or services. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. |
Deferred Revenue | Deferred Revenue The Company collects deposits from customers in advance for some business contracts. The customer payments received in advance are recorded as deferred revenue on the balance sheet. The deferred revenue of $ 426,777 513,072 112,176 |
Leases | Leases We have entered into operating agreements primarily for office and factory. We determine if an arrangement is a lease at inception. For all classes of underlying assets, we elect not to recognize right of use assets or lease liabilities when a lease has a lease term of 12 months or less at the commencement date and does not include an option to purchase the underlying asset that we are reasonably certain to exercise. Operating lease assets and liabilities are included on our consolidated balance sheet as of August 31, 2022. Operating lease assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value of the future lease payments is our incremental borrowing rate, because the interest rate implicit in most of our leases is not readily determinable. Our incremental borrowing rate is estimated to approximate the interest rate on a collateralized basis with similar terms and payments, and in economic environments where the leased asset is located. Operating lease assets also include any prepaid lease payments and lease incentives. Our lease terms include periods under options to extend or terminate the lease when it is reasonably certain that we will exercise that option. We generally use the base, non-cancellable, lease term when determining the lease assets and liabilities. Operating lease expense is recognized on a straight-line basis over the lease term. Our lease agreements generally contain lease and non-lease components. Non-lease components primarily include payments for maintenance and utilities. We combine fixed payments for non-lease components with our lease payments and account for them together as a single lease component, which increases the amount of our lease assets and liabilities. |
Income Taxes | Income Taxes The Company utilizes ASC Topic 740, “Income Taxes,” which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. The Company accounts for income taxes using the asset and liability method to compute the differences between the tax basis of assets and liabilities and the related financial amounts, using currently enacted tax rates. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized. The Company’s practice is to recognize interest and penalties, if any, related to uncertain tax positions in income tax expense in the consolidated statements of operations. |
Measurement of Fair Value | Measurement of Fair Value The fair value of a financial instrument is the amount that could be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets are marked to bid prices and financial liabilities are marked to offer prices. Fair value measurements do not include transaction costs. A fair value hierarchy is used to prioritize the quality and reliability of the information used to determine fair values. Categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The fair value hierarchy is defined in the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. |
Earnings (Loss) per Share | Earnings (Loss) per Share The Company computes basic and diluted earnings (loss) per share amounts in accordance with ASC Topic 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. As of August 31, 2022, the Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Except for rules and interpretive releases of the U.S. Securities and Exchange Commission (“SEC”) under the authority of federal securities laws and a limited number of grandfathered standards, the FASB Accounting Standards Codification™ (“ASC”) is the sole source of authoritative GAAP literature recognized by the FASB and applicable to the Company. Management has reviewed the aforementioned rules and releases and believes any effect will not have a material impact on the Company’s present or future financial statements. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 adds a current expected credit loss (“CECL”) impairment model to U.S. GAAP that is based on expected losses rather than incurred losses. Modified retrospective adoption is required with any cumulative-effect adjustment recorded to retained earnings as of the beginning of the period of adoption. ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, including interim periods within the year of adoption. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company does not expect the application of the CECL impairment model to have a significant impact on its allowance for uncollectible amounts for accounts receivable. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. There is no material impact on the Company’s financial statements. |
ORGANIZATION AND BUSINESS OPE_2
ORGANIZATION AND BUSINESS OPERATIONS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
SUMMARY OF CONSOLIDATED SUBSIDIARIES | The Company consolidates the following subsidiaries: SUMMARY OF CONSOLIDATED SUBSIDIARIES Subsidiaries of EVOH Attributable interest EvoAir International Limited (British Virgin Islands) 100 % Subsidiary of EvoAir International Limited WKL Eco Earth Holdings Pte Ltd (Singapore) 100 % Subsidiaries of WKL Eco Earth Holdings Pte Ltd WKL Eco Earth Sdn Bhd(Malaysia) 100 % WKL Green Energy Sdn Bhd (Malaysia) 100 % EvoAir Manufacturing (M) Sdn Bhd (Malaysia) 67.5 % WKL EcoEarth Indochina Co Ltd (Cambodia) 55 % WKL Guanzhen Green Technology Guangzhou Co Ltd (China) 55 % Subsidiary of EvoAir Manufacturing (M) Sdn Bhd Evo Air Marketing (M) Sdn Bhd (Malaysia) 100 % |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS | SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS Useful lives Plant and machineries 5 years Office equipment 5 years Vehicles 5 years Furniture and equipment 10 years Renovation 10 years |
INVENTORIES (Tables)
INVENTORIES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Inventory Disclosure [Abstract] | |
SUMMARY OF INVENTORIES | Inventories consist of the following: SUMMARY OF INVENTORIES August 31, 2022 August 31, 2021 Finished goods $ 385,102 $ 79,306 Raw materials and supplies 162,820 63,213 Work in progress 71,074 - Total inventory on hand $ 618,996 $ 142,519 |
DEPOSIT, PREPAYMENTS AND OTHE_2
DEPOSIT, PREPAYMENTS AND OTHER RECEIVABLES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Receivables [Abstract] | |
SCHEDULE OF DEPOSIT PREPAYMENTS AND OTHER RECEIVABLES | Deposit, prepayments, and other receivables consists of the following: SCHEDULE OF DEPOSIT PREPAYMENTS AND OTHER RECEIVABLES August 31, 2022 August 31, 2021 Deposits and Prepayment 61,270 15,208 Other receivables (Advances from suppliers) 770,396 1,224,353 Total 831,666 1,239,561 |
PROPERTY, PLANT AND EQUIPMENT_2
PROPERTY, PLANT AND EQUIPMENT, NET (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT | Property, plant, and equipment consist of the following: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT August 31, 2022 August 31, 2021 Plant and machineries $ 464,019 $ - Office equipment 55,587 46,375 Vehicles 71,860 58,247 Furniture and equipment 26,577 23,864 Renovation 134,309 62,551 Property plant and equipment gross 752,352 191,037 Less: Accumulated depreciation (149,597 ) (54,439 ) Property, plant and equipment, net $ 602,755 $ 136,598 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SUMMARIZES OF INTANGIBLE ASSETS | The below table summarizes the identifiable intangible assets as of August 31, 2022, and August 31, 2021: SUMMARIZES OF INTANGIBLE ASSETS August 31, 2022 August 31, 2021 Technology 1-Portable Air Cooler $ 27,438,763 $ - Technology 2-Condensing Unit 55,709,004 - Finite- lived intangible assets, gross 83,147,767 - Less: Accumulated amortization (2,771,592 ) - Intangible assets, net $ 80,376,175 $ - |
ACCOUNTS PAYABLE, ACCRUALS, A_2
ACCOUNTS PAYABLE, ACCRUALS, AND OTHER PAYABLES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF ACCOUNTS PAYABLES ACCRUALS AND OTHER PAYABLE | Account payables and accruals, and other payables consist of the following: SCHEDULE OF ACCOUNTS PAYABLES ACCRUALS AND OTHER PAYABLE August 31, 2022 August 31, 2021 Accounts payable $ 110,782 $ 102,394 Accruals 106,048 9,500 Other payables 31,980 33,078 Total $ 248,810 $ 144,972 |
CONVERTIBLE BONDS (Tables)
CONVERTIBLE BONDS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Debt Disclosure [Abstract] | |
SCHEDULE OF CONVERTIBLE BONDS | Convertible bonds consist of the following: SCHEDULE OF CONVERTIBLE BONDS August 31, 2022 August 31, 2021 Convertible bonds payable to a private investor bearing interest at 10%. Accrued interests are due November 2020. The Company is obligated to issue 66,667 shares of common stock as an inducement on the issuance of this bond upon internal re-organization completion $ - $ 44,601 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 49,383 10 $ - $ 44,601 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 205,762 10 - 185,840 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 1,647 10 - 1,487 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 82,305 10 - 74,336 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 24,692 10 - 22,301 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 205,762 10 - 185,841 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 329,219 10 - 297,345 Convertible bonds payable to a private investor,interest free. The Company issued 205,762 10 - 185,841 Convertible bonds payable to a private investor bearing interest at 10 November 15, 2020 15,523 10 - 10,407 $ - $ 1,007,999 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
SCHEDULE OF RECONCILIATION BETWEEN THE STATUTORY TAX RATE AND THE ACTUAL PROVISION | Reconciliation between the statutory tax rate to income before income taxes and the actual provision for income taxes is as follows: SCHEDULE OF RECONCILIATION BETWEEN THE STATUTORY TAX RATE AND THE ACTUAL PROVISION Twelve Months Ended August 31, 2022 2021 US Statutory rate 21 % 21 % Effect of reconciling items for tax purposes ( 21 )% ( 21 )% Effective income tax rate - % - % |
SCHEDULE OF COMPONENTS ON NET DEFERRED TAX ASSET | The components of net deferred tax assets are as follows: SCHEDULE OF COMPONENTS ON NET DEFERRED TAX ASSET August 31, August 31, Net operating loss carry-forward $ 7,470,000 $ 2,230,000 Less: valuation allowance (7,470,000 ) (2,230,000 ) Net deferred tax asset - - |
ROU ASSET AND LEASES (Tables)
ROU ASSET AND LEASES (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Rou Asset And Leases | |
SUMMARY OF ROU ASSET AND OPERATING LEASE LIABILITIES | The following is a summary of ROU asset and operating lease liabilities: SUMMARY OF ROU ASSET AND OPERATING LEASE LIABILITIES August 31, 2022 August 31, 2021 Assets: ROU asset $ 442,020 $ - Liabilities: Current: Operating lease liabilities $ 117,686 $ - Non-current Operating lease liabilities 355,186 - Total lease liabilities $ 472,872 $ - |
SCHEDULE OF MATURITIES OF LEASE LIABILITIES | As of August 31, 2022, remaining maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES Operating lease 2023 $ 117,686 2024 135,821 2025 112,235 2026 78,291 2027 and thereafter 28,839 Total $ 472,872 |
CONCENTRATIONS (Tables)
CONCENTRATIONS (Tables) | 12 Months Ended |
Aug. 31, 2022 | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES | For the years ended August 31, 2022, and 2021, the following customers comprised more than 10% of total sales: SCHEDULE OF CUSTOMERS COMPRISED OF TOTAL SALES For the years August 31, 2022 August 31, 2021 Customer #1 - 25 % Customer #2 - 21 % Customer #3 27 % - Customer #4 13 % - * Accounted for less than 10% for the period |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES | As of the years ended August 31, 2022, and 2021, the following customers comprised more than 10% of total accounts receivable: SCHEDULE OF CUSTOMERS COMPRISE OF TOTAL ACCOUNTS RECEIVABLE For the year ended August 31, 2022 August 31, 2021 Customer #5 19 % - Customer #1 - 47 % Customer #6 14 % - Customer #2 - 17 % Customer #7 12 % - * Accounted for less than 10 % for the year end |
Purchases [Member] | Supplier Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES | For the years ended August 31, 2022, and 2021, the following vendors comprised more than 10% of total purchases: SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES For the years August 31, 2022 August 31, 2021 Vendor #1 - 45 % Vendor #2 - 35 % Vendor #3 37 % - Vendor #4 18 % - Vendor #5 15 % - Vendor #6 15 % - * Accounted for less than 10% for the period |
SUMMARY OF CONSOLIDATED SUBSIDI
SUMMARY OF CONSOLIDATED SUBSIDIARIES (Details) | Aug. 31, 2022 |
Evo Air International Limited British Virgin Islands [Member] | |
Ownership percentage | 100% |
W K L Eco Earth Holdings Pte Ltd Singapore [Member] | EvoAir International Limited [Member] | |
Ownership percentage | 100% |
W K L Eco Earth Sdn Bhd Malaysia [Member] | W K L Eco Earth Holdings Pte Ltd [Member] | |
Ownership percentage | 100% |
W K L Green Energy Sdn Bhd Malaysia [Member] | W K L Eco Earth Holdings Pte Ltd [Member] | |
Ownership percentage | 100% |
Evo Air Manufacturing M Sdn Bhd Malaysia [Member] | W K L Eco Earth Holdings Pte Ltd [Member] | |
Ownership percentage | 67.50% |
W K L Eco Earth Indochina Co Ltd Cambodia [Member] | W K L Eco Earth Holdings Pte Ltd [Member] | |
Ownership percentage | 55% |
W K L Guanzhen Green Technology Guangzhou Co Ltd China [Member] | W K L Eco Earth Holdings Pte Ltd [Member] | |
Ownership percentage | 55% |
Evo Air Marketing M Sdn Bhd Malaysia [Member] | Evo Air Manufacturing M Sdn Bhd [Member] | |
Ownership percentage | 100% |
ORGANIZATION AND BUSINESS OPE_3
ORGANIZATION AND BUSINESS OPERATIONS (Details Narrative) - USD ($) | 12 Months Ended | ||
Dec. 20, 2021 | Aug. 31, 2022 | Aug. 31, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Common stock, shares issued | 101,779,323 | 101,853,397 | 2,970,000 |
Common stock, shares outstanding | 101,779,323 | 101,853,397 | 2,970,000 |
Number of shares issued | 74,074 | ||
Allotment Transactions [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Common stock, shares issued | 98,809,323 | ||
W K L Global Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 67.34% | ||
Shares issued for services | 2,000,000 | ||
Securities Purchase Agreement [Member] | Low Wai Koon [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Restricted stock award shares | 2,000,000 | ||
Ownership percentage | 67.34% | ||
Sale of stock price per share | $ 100 | ||
Share Exchange Agreement [Member] | W K L Eco Earth Holdindings [Member] | W K L Global Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 0.02% | ||
Number of shares issued | 24,000 | ||
Share Exchange Agreement [Member] | W K L Eco Earth Holdindings [Member] | Allegro Investment Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 0.01% | ||
Number of shares issued | 6,000 | ||
Share Exchange Agreement One [Member] | W K L Eco Earth Holdindings [Member] | W K L Global Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 0.05% | ||
Number of shares issued | 49,320 | ||
Share Exchange Agreement One [Member] | W K L Eco Earth Holdindings [Member] | Allegro Investment Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 0.009% | ||
Number of shares issued | 8,280 | ||
Share Exchange Agreement One [Member] | W K L Eco Earth Holdindings [Member] | W K L E E Sellers [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 0.014% | ||
Number of shares issued | 14,400 | ||
Investment Exchange Agreement [Member] | Evo Air Group [Member] | Tan Soon Hock [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 6.91% | ||
Number of shares issued | 7,037,762 | ||
Investment Exchange Agreement [Member] | Evo Air Group [Member] | Ivan Oh Joon Wern [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 2.48% | ||
Number of shares issued | 2,520,000 | ||
Investment Exchange Agreement [Member] | Evo Air Group [Member] | Relevant Interest Holders [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 5.90% | ||
Number of shares issued | 6,001,794 | ||
I P Assignment [Member] | W K L Eco Earth Holdindings [Member] | W K L Global Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 62.25% | ||
Number of shares issued | 63,362,756 | ||
I P Assignment [Member] | W K L Eco Earth Holdindings [Member] | Allegro Investment Limited [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 14.05% | ||
Number of shares issued | 14,297,259 | ||
I P Assignment [Member] | WKL Edo Earth Holdindings [Member] | Certain Nominees [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Ownership percentage | 5.39% | ||
Number of shares issued | 5,487,752 | ||
EvoAir International Limited [Member] | Share Transfer Agreement [Member] | |||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||
Consideration price | $ 100 |
CHANGE OF CONTROL (Details Narr
CHANGE OF CONTROL (Details Narrative) | Dec. 20, 2021 $ / shares shares |
W K L Global Limited [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Equity Method Investment, Ownership Percentage | 67.34% |
Stock Issued During Period, Shares, Issued for Services | 2,000,000 |
Securities Purchase Agreement [Member] | Low Wai Koon [Member] | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 2,000,000 |
Equity Method Investment, Ownership Percentage | 67.34% |
Sale of Stock, Price Per Share | $ / shares | $ 100 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 7,465,373 | $ 2,233,496 |
Net loss | 5,231,877 | 1,084,886 |
Cash used in operating activities | $ 1,540,167 | $ 2,001,253 |
SUMMARY OF ESTIMATED USEFUL LIV
SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS (Details) | Aug. 31, 2022 |
Property, Plant and Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 5 years |
Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 10 years |
Renovation [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful life | 10 years |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Accounts Receivable, after Allowance for Credit Loss, Current | $ 85,960 | $ 127,802 |
Deferred revenue | 513,072 | $ 426,777 |
Revenue recognized | $ 112,176 | |
Patents [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life | 20 years | |
Trademarks [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful life | 20 years | |
Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, terms | 5 years | |
Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, terms | 10 years | |
Evo Air Manufacturing M Sdn Bhd [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Ownership percentage | 67.50% | |
Evo Air Marketing S D N B H D [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Ownership percentage | 100% | |
W K L Guanzhe Green Technology Guangzhou Co Ltd [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Ownership percentage | 55% | |
W K L Guanzhe Greentech China Co Ltd [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Ownership percentage | 55% |
SUMMARY OF INVENTORIES (Details
SUMMARY OF INVENTORIES (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 385,102 | $ 79,306 |
Raw materials and supplies | 162,820 | 63,213 |
Work in progress | 71,074 | |
Total inventory on hand | $ 618,996 | $ 142,519 |
SCHEDULE OF DEPOSIT PREPAYMENTS
SCHEDULE OF DEPOSIT PREPAYMENTS AND OTHER RECEIVABLES (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Receivables [Abstract] | ||
Deposits and Prepayment | $ 61,270 | $ 15,208 |
Other receivables (Advances from suppliers) | 770,396 | 1,224,353 |
Total | $ 831,666 | $ 1,239,561 |
SCHEDULE OF PROPERTY, PLANT AND
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | $ 752,352 | $ 191,037 |
Less: Accumulated depreciation | (149,597) | (54,439) |
Property, plant and equipment, net | 602,755 | 136,598 |
Plant And Machinery [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | 464,019 | |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | 55,587 | 46,375 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | 71,860 | 58,247 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | 26,577 | 23,864 |
Renovation [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property plant and equipment gross | $ 134,309 | $ 62,551 |
PROPERTY, PLANT AND EQUIPMENT_3
PROPERTY, PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation | $ 95,158 | $ 25,414 |
SUMMARIZES OF INTANGIBLE ASSETS
SUMMARIZES OF INTANGIBLE ASSETS (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite- lived intangible assets, gross | $ 83,147,767 | |
Less: Accumulated amortization | (2,771,592) | |
Intangible assets, net | 80,376,175 | |
Portable Air Cooler [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite- lived intangible assets, gross | 27,438,763 | |
Condensing Unit [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Finite- lived intangible assets, gross | $ 55,709,004 |
INTANGIBLE ASSETS (Details Narr
INTANGIBLE ASSETS (Details Narrative) | 12 Months Ended |
Aug. 31, 2022 USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization of Intangible Assets | $ 2,771,592 |
SCHEDULE OF ACCOUNTS PAYABLES A
SCHEDULE OF ACCOUNTS PAYABLES ACCRUALS AND OTHER PAYABLE (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 110,782 | $ 102,394 |
Accruals | 106,048 | 9,500 |
Other payables | 31,980 | 33,078 |
Total | $ 248,810 | $ 144,972 |
SCHEDULE OF CONVERTIBLE BONDS (
SCHEDULE OF CONVERTIBLE BONDS (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | $ 1,007,999 | |
Convertible Bonds One [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 44,601 | |
Convertible Bonds Two [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 185,840 | |
Convertible Bonds Three [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 1,487 | |
Convertible Bonds Four [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 74,336 | |
Convertible Bonds Five [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 22,301 | |
Convertible Bonds Six [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 185,841 | |
Convertible Bonds Seven [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 297,345 | |
Convertible Bonds Eight [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | 185,841 | |
Convertible Bonds Nine [Member] | ||
Short-Term Debt [Line Items] | ||
Convertible notes payable, current | $ 10,407 |
SCHEDULE OF CONVERTIBLE BONDS_2
SCHEDULE OF CONVERTIBLE BONDS (Details) (Parenthetical) - shares | 12 Months Ended | |
Nov. 15, 2020 | Aug. 31, 2022 | |
Convertible Bonds One [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 49,383 | |
Debt discount rate | 10% | |
Convertible Bonds Two [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 205,762 | |
Debt discount rate | 10% | |
Convertible Bonds Three [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 1,647 | |
Debt discount rate | 10% | |
Convertible Bonds Four [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 82,305 | |
Debt discount rate | 10% | |
Convertible Bonds Five [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 24,692 | |
Debt discount rate | 10% | |
Convertible Bonds Six [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 205,762 | |
Debt discount rate | 10% | |
Convertible Bonds Seven [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 329,219 | |
Debt discount rate | 10% | |
Convertible Bonds Eight [Member] | ||
Short-Term Debt [Line Items] | ||
Debt instruments conversion shares issued | 205,762 | |
Debt discount rate | 10% | |
Convertible Bonds Nine [Member] | ||
Short-Term Debt [Line Items] | ||
Debt interest rate | 10% | |
Debt maturity date | Nov. 15, 2020 | |
Debt instruments conversion shares issued | 15,523 | |
Debt discount rate | 10% | |
Convertible Bonds [Member] | ||
Short-Term Debt [Line Items] | ||
Debt instruments conversion shares issued | 1,116,055 | |
Debt discount rate | 10% |
CONVERTIBLE BONDS (Details Narr
CONVERTIBLE BONDS (Details Narrative) - Convertible Bonds [Member] | 12 Months Ended | ||
Aug. 31, 2022 USD ($) | Nov. 15, 2020 $ / shares | Nov. 15, 2020 $ / shares | |
Short-Term Debt [Line Items] | |||
Debt Instrument, Convertible, Conversion Price | (per share) | $ 0.90 | $ 0.9 | |
Shares issue price | $ / shares | $ 1 | ||
Debt instruments beneficial conversion | $ | $ 1,005,645 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Eco Awareness Sdn Bhd [Member] | ||
Related Party Transaction [Line Items] | ||
Sale of stock, consideration received on transaction | $ 22,903 | $ 190,640 |
Accounts receivable, sales | 0 | 77,830 |
Issuance of stock, purchase of assets | 15,904 | 70,820 |
Accounts receivable, purchase | 0 | 70,650 |
Related Party [Member] | ||
Related Party Transaction [Line Items] | ||
Due to related parties | $ 2,301 | $ 52,481 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||||||||
Sep. 27, 2022 | Sep. 15, 2022 | Sep. 14, 2022 | Sep. 30, 2022 | Aug. 31, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | Oct. 26, 2022 | Dec. 20, 2021 | Dec. 16, 2021 | Dec. 15, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 75,000,000 | ||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
additional paid in capital due to forgiveness of loan from related party and stock refund payable | $ 13,292 | ||||||||||
Proceeds from capital contribution | 199,845 | 2,392,500 | |||||||||
Proceeds from shares issued | 75,000 | 861,883 | |||||||||
Conversion of shares issued, value | $ 1,004,442 | ||||||||||
Stock issued during period shares new issues | 74,074 | ||||||||||
Gross proceeds from common stock | $ 185,185 | ||||||||||
Common stock, shares issued | 101,853,397 | 101,853,397 | 2,970,000 | 101,779,323 | |||||||
Common stock, shares outstanding | 101,853,397 | 101,853,397 | 2,970,000 | 101,779,323 | |||||||
Subsequent Event [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Common stock, par value | $ 0.001 | ||||||||||
Stock issued during period shares new issues | 6,000,000 | ||||||||||
Shares issued price per share | $ 2.50 | ||||||||||
Gross proceeds from common stock | $ 299,055 | $ 299,055 | $ 299,055 | ||||||||
Number of common stock to be issued | 30,000 | ||||||||||
Common Stock [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Common stock, par value | $ 0.001 | $ 0.001 | |||||||||
Conversion of shares issued | 1,116,055 | ||||||||||
Conversion of shares issued, value | $ 1,116 | ||||||||||
Stock issued during period shares new issues | 6,000,000 | 14,517,575 | |||||||||
Shares issued price per share | $ 2.50 | $ 2.50 | |||||||||
Common Stock [Member] | Investment Agreements [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Stock issued during period shares new issues | 14,443,501 | ||||||||||
Common Stock [Member] | Share Exchange Agreement [Member] | W K L Green Energy [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Stock issued for acquisition | 30,000 | ||||||||||
Common Stock [Member] | Share Exchange Agreement [Member] | W K L Eco Earth [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Stock issued for acquisition | 72,000 | ||||||||||
Common Stock [Member] | Low Wai Koon [Member] | |||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||
Conversion of shares issued | 83,147,767 |
SCHEDULE OF RECONCILIATION BETW
SCHEDULE OF RECONCILIATION BETWEEN THE STATUTORY TAX RATE AND THE ACTUAL PROVISION (Details) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
US Statutory rate | 21% | 21% |
Effect of reconciling items for tax purposes | 21% | 21% |
Effective income tax rate |
SCHEDULE OF COMPONENTS ON NET D
SCHEDULE OF COMPONENTS ON NET DEFERRED TAX ASSET (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carry-forward | $ 7,470,000 | $ 2,230,000 |
Less: valuation allowance | (7,470,000) | (2,230,000) |
Net deferred tax asset |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 12 Months Ended | |
Aug. 31, 2022 | Aug. 31, 2021 | |
Operating Loss Carryforwards [Line Items] | ||
Income tax rate percentage | 21% | 21% |
Operating loss carryforwards | $ 7,470,000 | $ 2,230,000 |
W K L Guanzhe Green Technology Guangzhou Co Ltd [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Income tax rate percentage | 25% | |
Evo Air Marketing M Sdn Bhd [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Equity Method Investment, Ownership Percentage | 100% | |
Inland Revenue, Singapore (IRAS) [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Income tax rate percentage | 17% | |
Inland Revenue Board Of Malaysia I R B M [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Income tax rate percentage | 24% | |
General Department Of Taxation Cambodia [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Income tax rate percentage | 20% |
SUMMARY OF ROU ASSET AND OPERAT
SUMMARY OF ROU ASSET AND OPERATING LEASE LIABILITIES (Details) - USD ($) | Aug. 31, 2022 | Aug. 31, 2021 |
Rou Asset And Leases | ||
ROU asset | $ 442,020 | |
Operating lease liabilities | 117,686 | |
Operating lease liabilities | 355,186 | |
Total lease liabilities | $ 472,872 |
SCHEDULE OF MATURITIES OF LEASE
SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) | Aug. 31, 2022 USD ($) |
Rou Asset And Leases | |
2023 | $ 117,686 |
2024 | 135,821 |
2025 | 112,235 |
2026 | 78,291 |
2027 and thereafter | 28,839 |
Total | $ 472,872 |
ROU ASSET AND LEASES (Details N
ROU ASSET AND LEASES (Details Narrative) | Aug. 31, 2022 |
Rou Asset And Leases | |
Estimated incremental borrowing rate | 10% |
SCHEDULE OF CUSTOMERS COMPRISED
SCHEDULE OF CUSTOMERS COMPRISED OF TOTAL SALES (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |||
Aug. 31, 2022 | Aug. 31, 2021 | |||
Customer One [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 25% | ||
Customer Two [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 21% | ||
Customer Three [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 27% | [1] | ||
Customer Four [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 13% | [1] | ||
[1]Accounted for less than 10% for the period |
SCHEDULE OF CUSTOMERS COMPRISE
SCHEDULE OF CUSTOMERS COMPRISE OF TOTAL ACCOUNTS RECEIVABLE (Details) - Accounts Receivable [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |||
Aug. 31, 2022 | Aug. 31, 2021 | |||
Customer One [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 19% | [1] | ||
Customer Two [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 47% | ||
Customer Three [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 14% | [1] | ||
Customer Four [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 17% | ||
Customer Five [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 12% | [1] | ||
[1]Accounted for less than 10 |
SCHEDULE OF VENDORS COMPRISED O
SCHEDULE OF VENDORS COMPRISED OF TOTAL PURCHASES (Details) - Purchases [Member] - Supplier Concentration Risk [Member] | 12 Months Ended | |||
Aug. 31, 2022 | Aug. 31, 2021 | |||
Vendor One [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 45% | ||
Vendor Two [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | [1] | 35% | ||
Vendor Three [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 37% | [1] | ||
Vendor Four [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 18% | [1] | ||
Vendor Five [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 15% | [1] | ||
Vendor Six [Member] | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 15% | [1] | ||
[1]Accounted for less than 10% for the period |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||||
Sep. 27, 2022 | Sep. 15, 2022 | Sep. 14, 2022 | Sep. 30, 2022 | Aug. 31, 2022 | Aug. 31, 2021 | Dec. 16, 2021 | Dec. 15, 2021 | |
Subsequent Event [Line Items] | ||||||||
Number of shares issued | 74,074 | |||||||
Common stock par value per share | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Gross proceeds from the offering | $ 185,185 | |||||||
Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of shares issued | 6,000,000 | |||||||
Common stock par value per share | $ 0.001 | |||||||
Shares issued price per share | $ 2.50 | |||||||
Gross proceeds from the offering | $ 299,055 | $ 299,055 | $ 299,055 | |||||
Investor [Member] | Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Number of shares issued | 119,621 |