LCHD Leader Capital Holdings Corporation (PK)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

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

 

For The Quarterly Period Ended February 28, 2023

 

or

 

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

 

For the transition period from ____________ to ____________

 

Commission File Number 000-56159

 

LEADER CAPITAL HOLDINGS CORP.

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

 

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

 

Rm. 301, 3F., No. 131, Sec. 3, Minsheng E. Rd., Songshan Dist., Taipei City 105405 , Taiwan (R.O.C.)
(Address of principal executive offices)		(Zip Code)

 

Registrant’s phone number, including area code: +886-2-2547-5643

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Securities registered pursuant to Section 12(g) of the Act:

 

Title of Each Class		Trading Symbol		Name of Each Exchange on Which Registered
Common stock, $0.0001 par value		LCHD		N/A

 

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

 

YES ☒ NO ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

YES ☒ NO ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large Accelerated Filer ☐	Accelerated Filer ☐
Non-accelerated Filer ☒	Smaller reporting company ☐
	Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes ☐ No ☒

 

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

 

Class		Outstanding at June 27, 2023
Common Stock, $0.0001 par value		206,470,825

 

 

 

LEADER CAPITAL HOLDINGS CORP.

FORM 10-Q FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2023

 

TABLE OF CONTENTS

 

		Page
Special Note Regarding Forward-Looking Statements and Other Information Contained in this Report		ii
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements:	1
	Condensed Consolidated Balance Sheets as of February 28, 2023 (unaudited) and August 31, 2022	2
	Condensed Consolidated Statements of Operations and Comprehensive Loss for the Six and Three Months Ended February 28, 2023 and 2022 (unaudited)	3
	Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Six and Three Months Ended February 28, 2023 and 2022 (unaudited)	4-5
	Condensed Consolidated Statements of Cash Flows for the Six months ended February 28, 2023 and 2022 (unaudited)	6
	Notes to the Unaudited Condensed Consolidated Financial Statements	7
Item 2.	Management’s Discussion And Analysis Of Financial Condition And Results Of Operations	32
Item 3.	Quantitative And Qualitative Disclosures About Market Risk	36
Item 4.	Controls And Procedures	37
PART II	OTHER INFORMATION
Item 1	Legal Proceedings	38
Item 1A	Risk Factors	38
Item 2	Unregistered Sales Of Equity Securities And Use Of Proceeds	38
Item 3	Defaults Upon Senior Securities	39
Item 4	Mine Safety Disclosures	39
Item 5	Other Information	39
Item 6	Exhibits	39
Signatures		40

 

 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION CONTAINED IN THIS REPORT

 

This quarterly report on Form 10-Q (this “Form 10-Q”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can find many (but not all) of these statements by looking for words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “would,” “should,” “could,” “may” or other similar expressions in this Form 10-Q. In particular, these include statements relating to future actions, future performance, anticipated expenses, or projected financial results. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include the following:

 

	●	the availability and adequacy of our cash flow to meet our requirements;
	●	economic, competitive, demographic, business and other conditions in our local and regional markets;
	●	general economic conditions and events and the impact they may have on us and our clients, including but not limited to the impact of COVID-19;
	●	changes or developments in laws, regulations or taxes in our industry;
	●	there are uncertainties regarding the interpretation and enforcement of the People’s Republic of China (“PRC”) laws, rules, and regulations;
	●	competition in our industry;
	●	the loss of or failure to obtain any license or permit necessary or desirable in the operation of our business;
	●	proceedings brought by the SEC against China-based accounting firms could result in our inability to file future financial statements in compliance with the requirements of the Exchange Act.;
	●	changes in our business strategy, capital improvements or development plans;
	●	the availability of additional capital to support capital improvements and development; and
	●	other risks identified in our other filings with the Securities and Exchange Commission (the “SEC”).

 

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, or joint ventures we may make or collaborations or strategic partnerships we may enter into.

 

You should read this Form 10-Q and the documents that we have filed as exhibits to this Form 10-Q completely and with the understanding that our actual future results may be materially different from what we expect. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

Unless otherwise stated or the context otherwise requires, the terms “Leader Capital Holdings Corp.,” “we,” “us,” “our” and the “Company” refer collectively to Leader Capital Holdings Corp. and, where appropriate, its subsidiaries.

 

 

PART I — FINANCIAL INFORMATION

 

Item 1. Financial Statements.

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

INDEX TO UNAUDITED FINANCIAL STATEMENTS

 

	Page
Condensed Consolidated Balance Sheets	2
Condensed Consolidated Statements of Operations and Comprehensive Loss	3
Condensed Consolidated Statements of Changes in Stockholders’ Equity	4-5
Condensed Consolidated Statements of Cash Flows	6
Notes to Condensed Consolidated Financial Statements	7

 

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In U.S. dollars except for share data)

 

		February 28, 2023				August 31, 2022
		As of
		February 28, 2023				August 31, 2022
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	2,942			$	213,270
Accounts receivable			2,705				4,413
Prepayments, deposits and other receivables			93,228				176,201
Inventory			2,677				8,074
Due from a shareholder			2,086				-
Total current assets			103,638				401,958
Non-current assets
Non-marketable equity securities			1,500				1,500
Plant and equipment, net			45,949				71,004
Intangible assets			4,058				4,304
Operating lease right-of-use assets, net			97,959				227,230
Prepayments, deposits and other receivables			6,519				12,822
Total non-current assets			155,985				316,860
TOTAL ASSETS		$	259,623			$	718,818
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accrued expenses and other payables		$	650,966			$	450,555
Contract liabilities			50,000				169,951
Operating lease liability, current			69,966				150,381
Bonds payable			600,000				600,000
Other loans from shareholders, current			300,256				260,709
Other loans from a non-related party, current			5,802				-
Other loans, current			5,802				-
Due to shareholders			49,140				45,343
Due to a director			1,159,788				973,564
Due to shareholders and director			1,159,788				973,564
Total current liabilities			2,885,918				2,650,503
Non-current liabilities
Operating lease liability, non-current			24,809				68,422
Other loans from shareholders, non-current			200,000				200,000
Total non-current liabilities			224,809				268,422
TOTAL LIABILITIES		$	3,110,727			$	2,918,925
COMMITMENTS AND CONTINGENCIES (Note 16)			-
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding			-				-
Common stock, $0.0001 par value; 600,000,000 shares authorized; 200,470,825 and 191,770,825 shares issued and outstanding as of February 28, 2023 and August 31, 2022, respectively			20,047				19,177
Additional paid-in capital			33,080,537				32,339,182
Accumulated other comprehensive income			415,479				362,698
Accumulated deficits			(36,367,167	)			(34,921,164	)
TOTAL STOCKHOLDERS’ DEFICIT		$	(2,851,104	)		$	(2,200,107	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		$	259,623			$	718,818

 

See accompanying notes to the condensed consolidated financial statements.

 

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited)

(In U.S. dollars except for share data)

 

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		For the six months ended								For the three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
REVENUE		$	348,461			$	22,436			$	93,921			$	7,631
OPERATING EXPENSES
Research and development expenses			(216,688	)			(261,179	)			(110,410	)			(114,896	)
Sales and marketing expenses			(16,946	)			(247,536	)			(3,163	)			(33,764	)
General and administrative expenses			(1,467,727	)			(2,781,422	)			(769,108	)			(1,110,932	)
LOSS FROM OPERATIONS			(1,352,900	)			(3,267,701	)			(788,760	)			(1,251,961	)
Interest expense			(61,601	)			(50,696	)			(30,937	)			(22,196	)
Loss on change in fair value of convertible notes			-				(1,181,330	)			-				(1,076,830	)
OTHER (EXPENSE) INCOME
Exchange difference, net			(49,915	)			(6,054	)			75,294				(30,974	)
Other income – from non-related parties			18,413				531				17,473				80
Total other (expense) income			(31,502	)			(5,523	)			92,767				(30,894	)
LOSS BEFORE INCOME TAX			(1,446,003	)			(4,505,250	)			(726,930	)			(2,381,881	)
Income tax benefit			-				8,964				-				4,482
NET LOSS		$	(1,446,003	)		$	(4,496,286	)		$	(726,930	)		$	(2,377,399	)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment			52,781				11,083				(79,592	)			35,460
TOTAL COMPREHENSIVE LOSS		$	(1,393,222	)		$	(4,485,203	)		$	(806,522	)		$	(2,341,939	)
Net loss per share - Basic and diluted		$	(0.01	)		$	(0.03	)		$	(0.00	)*		$	(0.02	)
Weighted average number of shares of common stock outstanding – Basic and diluted			201,084,637				165,431,246				202,304,158				170,033,710

 

*	Less than $0.01 per share

 

 See accompanying notes to the condensed consolidated financial statements.

 

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(Unaudited)

(In U.S. dollars except for share data)

 

FOR THE SIX MONTHS ENDED FEBRUARY 28, 2023
		COMMON STOCK								ADDITIONAL				ACCUMULATED  OTHER								TOTAL
		Number of shares				Amount				PAID IN CAPITAL				COMPREHENSIVE  INCOME				ACCUMULATED DEFICITS				STOCKHOLDERS’ DEFICIT
Balance as of September 1, 2022			191,770,825			$	19,177			$	32,339,182			$	362,698			$	(34,921,164	)		$	(2,200,107	)
Shares issued in private placement			2,000,000				200				299,800				-				-				300,000
Shares issued to employees and consultants for stock award			6,700,000				670				(670	)			-				-				-
Share based compensation			-				-				442,225				-				-				442,225
Foreign currency translation adjustment			-				-				-				52,781				-				52,781
Net loss			-				-				-				-				(1,446,003	)			(1,446,003	)
Balance as of February 28, 2023			200,470,825			$	20,047			$	33,080,537			$	415,479			$	(36,367,167	)		$	(2,851,104	)

 

FOR THE SIX MONTHS ENDED FEBRUARY 28, 2022
														ACCUMULATED								TOTAL
		COMMON STOCK								ADDITIONAL				OTHER								STOCKHOLDERS’
		Number of shares				Amount				PAID IN CAPITAL				COMPREHENSIVE LOSS				ACCUMULATED DEFICITS				EQUITY (DEFICIT)
Balance as of September 1, 2021			157,949,219			$	15,795			$	23,470,641			$	(171,114	)		$	(23,001,067	)		$	314,255
Shares issued in private placement			9,010,000				901				1,149,099				-				-				1,150,000
Shares issued to service providers			1,000,000				100				(100	)			-				-				-
Shares to be issued on conversion of convertible notes			1,600,000				-				1,632,000				-				-				1,632,000
Share compensation			-				-				1,060,813				-				-				1,060,813
Foreign currency translation adjustment			-				-				-				11,083				-				11,083
Net loss			-				-				-				-				(4,496,286	)			(4,496,286	)
Balance as of February 28, 2022			169,559,219			$	16,796			$	27,312,453			$	(160,031	)		$	(27,497,353	)		$	(328,135	)

 

 

FOR THE THREE MONTHS ENDED FEBRUARY 28, 2023
		COMMON STOCK								ADDITIONAL				ACCUMULATED OTHER								TOTAL
		Number of shares				Amount				PAID IN CAPITAL				COMPREHENSIVE INCOME				ACCUMULATED DEFICITS				STOCKHOLDERS’ DEFICIT
Balance as of December 1, 2022			200,470,825			$	20,047			$	32,811,645			$	495,071			$	(35,640,237	)		$	(2,313,474	)
Share based compensation			-				-				268,892				-				-				268,892
Foreign currency translation adjustment			-				-				-				(79,592	)			-				(79,592	)
Net loss			-				-				-				-				(726,930	)			(726,930	)
Balance as of February 28, 2023			200,470,825			$	20,047			$	33,080,537			$	415,479			$	(36,367,167	)		$	(2,851,104	)

 

FOR THE THREE MONTHS ENDED FEBRUARY 28, 2022
		COMMON STOCK								ADDITIONAL				ACCUMULATED OTHER								TOTAL
		Number of shares				Amount				PAID IN CAPITAL				COMPREHENSIVE LOSS				ACCUMULATED DEFICITS				STOCKHOLDERS’ EQUITY (DEFICIT)
Balance as of December 1, 2021			162,109,219			$	16,211			$	24,970,454			$	(195,491	)		$	(25,119,954	)		$	(328,780	)
Beginning balance, value			162,109,219			$	16,211			$	24,970,454			$	(195,491	)		$	(25,119,954	)		$	(328,780	)
Shares issued in private placement			4,850,000				485				484,515				-				-				485,000
Shares issued to service providers			1,000,000				100				(100	)			-				-				-
Shares to be issued on conversion of convertible notes			1,600,000				-				1,632,000				-				-				1,632,000
Share compensation			-				-				225,584				-				-				225,584
Foreign currency translation adjustment			-				-				-				35,460				-				35,460
Net loss			-				-				-				-				(2,377,399	)			(2,377,399	)
Balance as of February 28, 2022			169,559,219			$	16,796			$	27,312,453			$	(160,031	)		$	(27,497,353	)		$	(328,135	)
Ending balance, value			169,559,219			$	16,796			$	27,312,453			$	(160,031	)		$	(27,497,353	)		$	(328,135	)

   

See accompanying notes to the condensed consolidated financial statements.

 

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In U.S. dollars)

 

		February 28, 2023				February 28, 2022
		For the six months ended
		February 28, 2023				February 28, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(1,446,003	)		$	(4,496,286	)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on change in fair value of convertible notes			-				1,181,330
Loss on disposal			3,464				-
Share based compensation			442,225				1,060,813
Amortization of operating lease right-of-use assets			123,170				169,682
Depreciation and amortization			22,362				66,080
Exchange difference, net			49,915				6,054
Changes in operating assets and liabilities:
Accounts receivable			1,647				(991	)
Prepayments, deposits and other receivables			87,145				55,623
Inventory			5,263				(10,164	)
Amount due to a director			52,661				-
Deferred tax liabilities			-				(8,964	)
Operating lease liabilities			(118,028	)			(169,682	)
Contract liabilities			(106,533	)			(13,271	)
Accrued expenses and other payables			174,540				219,246
Net cash used in operating activities			(708,172	)			(1,940,530	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of plant and equipment			(1,098	)			(27,787	)
Acquisition of intangible assets			-				(1,437	)
Net cash used in investing activities			(1,098	)			(29,224	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares issued in private placement			300,000				1,150,000
Loan from shareholders			-				158,000
Repayment to shareholders			(94,258	)			-
Loan from a non-related party			5,742				-
Advance from shareholders			135,400				151,853
Advance to shareholders			(2,065	)			-
Repayment to a director			-				(119,207	)
Advance from a director			133,180				-
Net cash provided by financing activities			477,999				1,340,646
Effects of exchange rate changes on cash and cash equivalents			20,943				(475	)
Net decrease in cash and cash equivalents			(210,328	)			(629,583	)
Cash and cash equivalents, beginning of period			213,270				787,154
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	2,942			$	157,571
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes		$	-			$	-
Cash paid for interest		$	47,201			$	42,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Lease liabilities arising from obtaining right-of-use assets		$	12,240			$	-

 

See accompanying notes to the condensed consolidated financial statements.

 

 

LEADER CAPITAL HOLDINGS CORP. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

For the six months ended February 28, 2023 and 2022

(In U.S. dollars except for share data)

 

1. ORGANIZATION AND BUSINESS BACKGROUND

 

Leader Capital Holdings Corp. (“LCHD” or the “Company”) was incorporated on March 22, 2017 under the laws of the State of Nevada.

 

The Company, through its subsidiaries, mainly operates and services a mobile application investment platform.

 SCHEDULE OF SUBSIDIARIES OF COMPANY

Company Name		Place/Date of Incorporation		Principal Activities
1. Leader Financial Group Limited (“LFGL”)		Seychelles / March 6, 2017		Investment Holding
2. JFB Internet Service Limited (“JFB”)		Hong Kong / July 6, 2017		Provides an Investment Platform

 

On August 17, 2020, LCHD, through JFB, acquired all of the issued and outstanding capital stock (the “Acquisition”) of Nice Products Inc. (“NPI”), pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of August 17, 2020, among the Company, JFB, NPI, the selling shareholders of NPI identified therein (each a “Seller,” and, collectively, the “Sellers”) and the representative of the Sellers identified therein. As a result of the Acquisition, the Company now owns indirectly 100% of NPI, LOC Weibo Co., Ltd. and Beijing DataComm Cloud Media Technology Co., Ltd.

 

The aggregate purchase price for the Acquisition was $4,850,000, less certain discounts, expenses and reductions for outstanding NPI debt owed to the Company and/or its affiliates, resulting in a net purchase price of $3,506,042, payable in 8,415,111 shares of the Company’s common stock to the Sellers in accordance with their respective pro rata percentage.

 

After the completion of the acquisition, NPI became an indirect wholly owned subsidiary of the Company.

 

NPI was incorporated in the British Virgin Islands on December 17, 2018.

 

NPI, through its subsidiaries, mainly engages in the development of ecological-systems applications, integration of big data and promotion of Over-the-Top (“OTT”) applications.

 

Company Name		Place/Date of Incorporation		Principal Activities
1. LOC Weibo Co., Ltd. (“LOC”)		Republic of China/September 29, 2017		Development of ecological-systems applications, integration of big data and promotion of OTT applications
2. Beijing DataComm Cloud Media Technology Co., Ltd. (“BJDC”)		People’s Republic of China /April 16, 2013		Development of ecological-systems applications, integration of big data and promotion of OTT applications

 

On March 15, 2023, the board of directors decided to dissolve LOC. LOC then entered into a de-registration process and its business was taken over by LCHD. Taichung City Government approved the dissolution on April 25, 2023.

 

LCHD and its subsidiaries (including NPI and its subsidiaries) are hereinafter referred to as the “Company”.

 

7

 

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

These unaudited condensed consolidated financial statements of the Company and its subsidiaries are unaudited. In the opinion of management, all adjustments (which are of a normal recurring nature) and disclosures necessary for a fair presentation of these unaudited condensed consolidated financial statements have been included. The results reported in the unaudited condensed consolidated financial statements for any interim periods are not necessarily indicative of the results that may be reported for the entire year. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”), and include the accounts of the Company and its subsidiaries. However, they do not include all information and footnotes necessary for a complete presentation of financial statements in conformity with U.S. GAAP. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Intercompany accounts and transactions have been eliminated in consolidation.

 

The Company has adopted August 31 as its fiscal year end. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s annual report on amended Form 10-K for the year ended August 31, 2022.

 

Going Concern 

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.

 

As of February 28, 2023, the Company has suffered recurring losses from operations, and records an accumulated deficit, a working capital deficit and a shareholders’ deficit of $36,367,167, $2,782,280 and $2,851,104, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due.

 

The Company expects to finance its operations primarily through cash flows from operations, loans from existing directors and shareholders and placements of capital stock for additional funding. In the event that the Company requires additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, a shareholder has indicated the intent and ability to provide additional financing. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

 

In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. It has also disrupted the normal operations of many businesses, including the Company’s businesses. This outbreak could decrease spending, adversely affect demand for the Company’s services and harm its business and results of operations. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.

 

Affected by the COVID-19, the Company had to re-organize to improve its market competitiveness and to warrant the survival and future development. The Company also had downsized the operations to safeguard the financial position by reduction of labor costs, reduction of office space, and simplified operational procedures.

 

The Company’s reduction of labor costs were done through resignation and layoffs, whereas all layoffs were processed according to local governing labor laws.

 

These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and the classification of liabilities that might be necessary should the Company be unable to continue as going concern.

 

8

 

 

Use of Estimates

 

The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

 

The COVID-19 pandemic has created and may continue to create significant uncertainty in macroeconomic conditions, which may cause further business slowdowns or shutdowns, depress demand for the Company’s business, and adversely impact its results of operations. The severity of the impact of the COVID-19 pandemic on the Company’s business will continue to depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the new variants of COVID-19, the efficacy and distribution of COVID-19 vaccines and the extent and severity of the impact on the global supply chain and the Company’s customers, service providers and suppliers, all of which are uncertain and cannot be reasonably predicted at this time. As of the date of issuance of the Company’s financial statements, the extent to which the COVID-19 pandemic may in the future materially impact the Company’s financial condition, liquidity or results of operations is uncertain. The Company is monitoring and assessing the evolving situation closely and evaluating its potential exposure. Its estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its consolidated financial statements.

 

Identified below are the accounting policies that reflect the Company’s most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its unaudited condensed consolidated financial statements.

 

Business combination

 

The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive income.

 

When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.

 

Goodwill and impairment of Goodwill

 

Goodwill represents the excess of the purchase price and related costs over the fair value of the net identified tangible and intangible assets and liabilities assumed and is not amortized (“Goodwill”). The total amount of Goodwill is deductible for tax purposes.

 

In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” Goodwill is not amortized but is tested for impairment, annually or more frequently when circumstances indicate a possible impairment may exist. Impairment testing is performed at a reporting unit level. An impairment loss generally would be recognized when the carrying amount of the reporting unit exceeds its fair value.

 

9

 

 

The Company estimates fair value of the applicable reporting unit or units using a discounted cash flow methodology. This methodology represents a level 3 fair value measurement as defined under ASC 820, Fair Value Measurements and Disclosures, since the inputs are not readily observable in the marketplace. The goodwill impairment testing process involves the use of significant assumptions, estimates and judgments, including projected sales, gross margins, selling, general and administrative expenses, and capital expenditures, and the selection of an appropriate discount rate, all of which are subject to inherent uncertainties and subjectivity. When the Company performs goodwill impairment testing, its assumptions are based on annual business plans and other forecasted results, which it believes represent those of a market participant. The Company selects a discount rate, which is used to reflect market-based estimates of the risks associated with the projected cash flows based on the best information available as of the date of the impairment assessment. Based on the annual impairment analysis, there is impairment of $1,747,945 and $1,226,419 on the goodwill recorded in the Company’s financial statements for the years ended August 31, 2022 and 2021, respectively.

 

Given the current macro-economic environment and the uncertainties regarding its potential impact on the Company’s business, there can be no assurance that its estimates and assumptions used in its impairment tests will prove to be accurate predictions of the future. If the Company’s assumptions regarding forecasted cash flows are not achieved, it is possible that an impairment review may be triggered and goodwill may be impaired. During the year ended August 31, 2022, the Company expects the reporting unit of FinTech App development not to generate profits in the near future. As a result, the goodwill was fully impaired as of August 31, 2022.

 

Cash and Cash Equivalents

 

Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.

 

Software Development Costs

 

The Company expenses software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and, as a result, development costs that meet the criteria for capitalization were not material for the periods presented.

 

The Company capitalizes development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended.

 

No development costs were expensed as general and administrative expenses for the six and three months ended February 28, 2023 and 2022.

 

Revenue Recognition

 

The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.

 

10

 

 

The Company recognizes revenue following the five-step model prescribed under ASU 2014-09:

 

Step 1: Identify the contract

Step 2: Identify the performance obligations

Step 3: Determine the transaction price

Step 4: Allocate the transaction price

Step 5: Recognize revenue

 

Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.

 

Provision of investment platform services

 

The Company signed an agreement with a third party whereby the Company authorized the third party to use the Company’s JFB platform and related applications for a period until December 31, 2020. Income from provision of investment platform services with the use of the Company’s mobile applications is recognized when the service is performed.

 

From September, 2020, the Company generated additional revenue from a new, more comprehensive mobile application, which refer to as the FinMaster mobile application (the “FinMaster App” and together with the JFB platform, the “Apps”), with similar functions as the JFB platform. Income from providing investment platform services with the use of a mobile application is recognized when the service is performed.

 

The Company offers a self-managed points program, which can be used in the FinMaster App to redeem merchandise or services.   The Company determines the value of each point based on estimated incremental cost. Customers and advocates have a variety of ways to obtain the points. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service. The major accounting policy for its points program is described as follows:

 

The Company concludes the bonus points offered linked to the purchase transaction of the points is a material right and accordingly a separate performance obligation according to ASC 606, and should be taken into consideration when allocating the transaction price of the point sales. The Company also estimates the probability of points redemption when performing the allocation. The amount allocated to the bonus points as separate performance obligation is recorded as contract liability (deferred revenue) and revenue should be recognized when future goods or services are transferred. The Company will continue to monitor when and if forfeiture rate data becomes available and will apply and update the estimated forfeiture rate at each reporting period.

 

Since historical information is limited for the Company to determine any potential points forfeitures and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.

 

Provision of software development service and maintenance service

 

The Company entered into several agreements with third party customers to assist the customers in the development of their mobile communications software and mobile e-commerce software. Income from provision of software development service and maintenance service are recognized when the service is performed.

 

Revenue by major product line

 SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE

		February 28, 2023				February 28, 2022				February 28,2023				February 28, 2022
		For the six months ended								For the three months ended
		February 28, 2023				February 28, 2022				February 28,2023				February 28, 2022
Provision of investment platform services		$	17,397			$	4,799			$	8,249			$	1,557
Provision of software development service and maintenance service			331,064				17,637				85,672				6,074
Revenue		$	348,461			$	22,436			$	93,921			$	7,631

 

11

 

 

Revenue by Recognition Over Time vs Point in Time

 SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		For the six months ended								For the three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Revenue by recognition over time		$	348,461			$	22,436			$	93,921			$	7,631
Revenue by recognition at a point in time			-				-				-				-
Revenue		$	348,461			$	22,436			$	93,921			$	7,631

 

Remaining performance obligations represent contracted revenues that had not yet been recognized, and include deferred revenues; invoices that have been issued to customers but were uncollected and have not been recognized as revenues; and amounts that will be invoiced and recognized as revenues in future periods. As of February 28, 2023, the Company’s remaining performance obligations were $50,000, which it expects to recognize as revenues over the next twelve months and the remainder thereafter.

 

The Company had not occurred any costs to obtain contracts.

 

The Company does not have amounts of contract assets since revenue is recognized as control of goods or services is transferred. The contract liabilities consist of advance payments from customers. The contract liabilities are reported in a net position on a customer-by-customer basis at the end of each reporting period. All contract liabilities are expected to be recognized as revenue within one year and are included in other payables and accrued liabilities in the consolidated balance sheet.

 

Contract balances

 

The Company’s contract liabilities consist of receipts in advance for software development and FinMaster App. The Company withdrew from the investment platform service in February 2023 and the advance payment from FinMaster App would be refunded to customers upon requests received. The Company updated its assessment of amount of refunds and recognized the amounts received for which it did not expect to be entitled as a refund liability. Below is the summary presenting the movement of the Company’s contract liabilities for the six months ended February 28, 2023 and 2022:

 SCHEDULE OF CONTRACT LIABILITIES

Receipt in advance		2023				2022
Balance as of September 1		$	169,951			$	16,225
Advances received from customers			211,734				2,677
Revenue recognized			(318,267	)			(15,948	)
Refund liability recognized			(13,019	)			-
Exchange difference			(399	)			(101	)
Balance as of February 28		$	50,000			$	2,853

 

Practical Expedients and Exemption

 

The Company has not incurred any costs to obtain contracts, and does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

 

Research and development expenses

 

Research and development (“R&D”) expenses are primary comprised of charges for R&D and consulting work performed by third parties; salaries and benefits for those employees engaged in research, design and development activities; costs related to design tools; and allocated costs.

 

For the six months ended February 28, 2023 and 2022, the total R&D expenses were $216,688 and $261,179, respectively.

 

For the three months ended February 28, 2023 and 2022, the total R&D expenses were $110,410 and $114,896, respectively.

 

12

 

 

Sales and marketing expenses

 

Sales and marketing expenses consist primarily of marketing and promotional expenses, salaries and other compensation-related expenses to sales and marketing personnel. Advertising expenses consist primarily of costs for the promotion of corporate image and product marketing. The Company expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the six months ended February 28, 2023 and 2022, advertising costs totaled $18,423 and $240,049, respectively. For the three months ended February 28, 2023 and 2022, advertising costs totaled $4,613 and $29,446, respectively.

 

From September 2019, customers or users of the FinMaster App can obtain points through any other ways such as account registration referral to the FinMaster App, frequent sign-ins to the application and sharing articles from the application to users’ own social media, etc. The Company believes these points are to encourage user engagement and generate market awareness. As a result, the Company accounts for such points as sales and marketing expenses with a corresponding liability recorded under other current liabilities of its unaudited condensed consolidated balance sheets upon the points offering. The Company estimates liabilities under the customer loyalty program based on cost of the merchandise that can be redeemed, and its estimate of probability of redemption. At the time of redemption, the Company records a reduction of inventory and other current liabilities. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service.

 

Since historical information is limited for the Company to determine any potential points forfeiture and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.

 

For the six months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,477) and $7,487, respectively.

 

For the three months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,450) and $4,318, respectively.

 

As of February 28, 2023 and August 31, 2022, liabilities recorded related to unredeemed points were $80,338 and $82,638, respectively, which were included in other payables (note 9). 

 

General and administrative expenses

 

General and administrative expenses consist primarily of salaries, bonuses and benefits for employees involved in general corporate functions, depreciation and amortization of fixed assets, legal and other professional services fees, rental and other general corporate related expenses.

 

Inventory

 

Inventories are stated at the lower of cost or net realizable value. Cost is calculated on an average basis and includes all costs to acquire and other costs to bring the inventories to their present location and condition. The Company records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Company also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.

 

Inventory as of February 28, 2023 and August 31, 2022 represents merchandise inventory which can be redeemed by deducting membership rewards points of customer loyalty program.

 

13

 

 

Leases

 

The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use (“ROU assets”) assets represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. The Company elected the package of practical expedients permitted under the transition guidance to combine the lease and non-lease components as a single lease component for operating leases associated with the Company’s office space lease, and to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of income on a straight-line basis over the lease term.

 

The operating lease is included in operating lease right-of-use assets, operating lease liabilities-current and operating lease liabilities-non-current on the Company’s consolidated balance sheets.

 

Plant and Equipment

 

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

 SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES

		Expected useful life
Furniture and fixture			3
Office equipment			3
Leasehold improvement			3

 

Intangible assets

 

The Company recorded intangible assets with definite lives, including investment platform and technical know-hows. Intangible assets are recorded at cost less accumulated amortization with no residual value. Amortization of intangible assets is computed using the straight-line method over their estimated useful lives.

 

The estimated useful lives of the Company’s intangible assets are listed below:

 SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS

Investment platform			5 years
Technical know-hows			8 years
Trademarks			10 years

 

Impairment of Long-Lived Assets (including amortizable intangible assets)

 

The Company reviews the carrying values of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If the assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No impairment has been recorded by the Company for the six and three months ended February 28, 2023 and 2022.

 

14

 

 

Employee benefits

 

The Taiwan subsidiary also operates a Defined Contribution Pension Plan under the Labor Pension Act (the Act) for employees in Taiwan. The Act stipulated that the contribution rate by the employer per month shall not be less than 6% of the employees’ monthly salary, and the Table of Monthly Contribution Salary Classification shall be prescribed by Central Competent Authority. The highest bracket of Monthly Contribution Salary issued by Central Competent Authority is $4,839 (NTD150,000). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $9,869 and $23,387 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $4,592 and $12,478 for the three months ended February 28, 2023 and 2022, respectively.

 

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiary of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $58,050 and $62,771 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $30,145 and $31,559 for the three months ended February 28, 2023 and 2022, respectively.

 

The Hong Kong subsidiary operates a Mandatory Provident Fund (“MPF”) scheme for all qualifying employees in Hong Kong. The MPF is a defined contribution scheme and the assets of the scheme are managed by a trustee independent of the Group. The MPF is available to all employees aged 10 to 64 with a least 60 days of service under the employment of the Group in Hong Kong. Contributions are made by the Group to a cap of HK$1,500 (equivalent to $192 per month). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $5,115 and $5,124 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $3,524 and $4,083 for the three months ended February 28, 2023 and 2022, respectively.

 

Income taxes

 

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

 

ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. As of February 28, 2023, the Company has no accrued interest or penalties related to uncertain tax positions.

 

The Company conducts business in the PRC, Taiwan and Hong Kong and is subject to tax in these jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the respective tax authorities.

 

Net Loss Per Share

 

The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock equivalents had been issued and if the additional shares of common stock were dilutive. The following table presents a reconciliation of basic and diluted net loss per share:

 SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		For the six months ended								For the three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Net loss		$	(1,446,003	)		$	(4,496,286	)		$	(726,930	)		$	(2,377,399	)
Weighted average number of shares of common stock outstanding - Basic and diluted**			201,084,637				165,431,246				202,304,158				170,033,710
Net loss per share - Basic and diluted		$	(0.01	)		$	(0.03	)		$	(0.00	)*		$	(0.02	)

 

	*	Less than $0.01
	**	Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022.

 

15

 

 

Stock-based compensation

 

Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718 (“ASC 718”), which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.

 

Additionally, ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, permits the election of an accounting policy for forfeitures of share-based payment awards, either to recognize forfeitures as they occur or estimate forfeitures over the vesting period of the award. The Company has elected to recognize forfeitures as they occur.

 

On September 1, 2019, the Company adopted ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting” (“ASU 2018-07”), which simplifies several aspects of the accounting for nonemployee share-based payment transactions by expanding the scope of the stock-based compensation guidance in ASC 718 to include share-based payment transactions for acquiring goods and services from non-employees. Before the adoption of this guidance, the equity-classified share-based awards held by non-employees were subject to re-measurement through each vesting date. Upon the adoption of this guidance, the Company no longer re-measures equity-classified share-based awards granted to consultants or non-employees at each reporting date through the vesting date and the accounting for these share-based awards to consultants or non-employees and employees was substantially aligned.

 

Cancellation of a share-based payment by the entity results in accelerated recognition of any unrecognised cost. Cancellation by the counterparty does not change recognition of the compensation cost. The termination of an employee that resulted in the forfeiture of share-based awards is not considered to be a cancellation of the awards.

 

Foreign Currencies Translation

 

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

 

The reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiary in Seychelles, the PRC, Taiwan and Hong Kong maintains its books and record in United States Dollars (“US$”), Renminbi (“RMB”), New Taiwanese Dollars (“NT$”) and United States Dollars (“US$”) respectively, which are the primary currencies of the economic environment in which the entities operate (the functional currencies).

 

In general, for consolidation purposes, the assets and liabilities of the Company’s subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from the translation of the financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of retained earnings.

 

Translation of amounts from foreign currencies into US$ has been made at the following exchange rates for the respective periods:

 SCHEDULE OF FOREIGN CURRENCY TRANSLATION

		As of February 28, 2023				As of August 31, 2022
Period-end NT$ : US$ 1 exchange rate			30.68				30.38
Period-end RMB : US$ 1 exchange rate			6.95				6.89

 

		February 28, 2023				February 28, 2022
		For the six months ended,
		February 28, 2023				February 28, 2022
Period average NT$ : US$ 1 exchange rate			31.00				27.82
Period average RMB : US$ 1 exchange rate			7.00				6.42

 

16

 

 

Related Parties

 

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

 

Convertible instruments

 

The Company accounts for hybrid contracts that feature conversion options in accordance with U.S. GAAP. ASC 815 “Derivatives and Hedging Activities,” (“ASC 815”) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

 

Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.

 

The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 “Debt with Conversion and Other Options” (“ASC 470-20”). Under ASC 470-20 the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815. Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.

 

Segment reporting

 

ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker organizes segments within the company for making operating decisions assessing performance and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.

 

Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280. The Company operates exclusively in one business and industry segment: the provision of investment platform services through mobile application.

 

Recent Accounting Pronouncements

 

Recently Adopted Accounting Standards

 

In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. Early adoption is permitted for all entities, including adoption in an interim period. If an entity elects to early adopt ASU 2021-04 in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. The Company adopted ASU 2021-04 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.

 

17

 

 

In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This update is effective for annual periods beginning after December 15, 2021, and early application is permitted. This guidance should be applied either prospectively to all transactions that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company adopted ASU 2021-10 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.

 

Recently issued accounting pronouncements not yet adopted

 

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. ASU 2016-13 is to be adopted on a modified retrospective basis. As a smaller reporting company, ASU 2016-13 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. In March 2023, the FASB issued ASU 2023-02, Topic 326. The ASU eliminates the accounting guidance for trouble debt restructurings by creditors in Subtopic 310-40, and enhances the disclosure requirements for modifications of loans to borrowers experiencing financial difficulty. Additionally, the ASU requires disclosure of gross writeoffs of receivables by year of origination for receivables within the scope of Subtopic 326-20, Financial Instruments - Credit Losses - Measured at Amortized Cost. This ASU is effective for periods beginning after December 15, 2023. The Company is currently evaluating the impact that the adoption of ASU 2016-13 and ASU 2023-02 will have on its condensed consolidated financial statement presentations and disclosures.

 

In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 of the two-step Goodwill impairment test, under which a goodwill impairment loss was measured by comparing the implied fair value of a reporting unit’s Goodwill with the carrying amount of that Goodwill. ASU 2017-04 requires only a one-step quantitative impairment test, whereby a Goodwill impairment loss is measured as the excess of a reporting unit’s carrying amount over its fair value (not to exceed the total Goodwill allocated to that reporting unit). Adoption of the ASUs is on a modified retrospective basis. As a smaller reporting company, the standard will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. The Company does not expect the impact of this guidance to have a material impact on the Company’s condensed consolidated financial statements.

 

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 the recognition and measurement of contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers. This creates an exception to the general recognition and measurement principles in ASC 805. As a smaller reporting company, ASU 2021-08 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2023, with early adoption permitted. The amendments in this ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company does not anticipate that the adoption of this guidance will have a material impact on the condensed consolidated financial statements.

 

In March 2023, the FASB issued ASU 2023-01, Lease (Topic 842): Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with leases between entities under common control (hereinafter referred to as common control lease). ASU 2023-01 requires entities to amortize leasehold improvements associated with common control lease over the useful life to the common control group (regardless of the lease term) as long as the lessee controls the use of the underlying asset through a lease, and to account for any remaining leasehold improvements as a transfer between entities under common control through an adjustment to equity when the lessee no longer controls the underlying asset. This ASU will be effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been made available for issuance. An entity may apply ASU 2023-01 either prospectively or retrospectively. The Company is currently evaluating the impact that the adoption of ASU 2023-01 will have on our condensed consolidated financial statement presentations and disclosures.

 

The Company’s management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

 

18

 

 

3. ACQUISITION OF SUBSIDIARIES

 

On August 17, 2020, the Company, through its wholly-owned subsidiary JFB, acquired all of the issued and outstanding capital stock (the “Acquisition”) of NPI, pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of August 17, 2020, among the Company, JFB, NPI, the selling shareholders of NPI identified therein (each a “Seller,” and, collectively, the “Sellers”) and the representative of the Sellers identified therein.

 

The aggregate purchase price for the Acquisition was $4,850,000, less certain discounts, expenses and reductions for outstanding NPI debt owed to the Company and/or its affiliates, resulting in a net purchase price of $3,506,042, payable in 8,415,111 shares of the Company’s common stock to the Sellers in accordance with their respective pro rata percentage.

 

After the completion of the Acquisition, NPI became an indirect wholly owned subsidiary of the Company.

 

The Company completed the valuations necessary to assess the fair values of the tangible and intangible assets acquired and liabilities assumed, resulting from which the amount of Goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, August 31, 2020.

 SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED

Cash and cash equivalents		$	185,117
Prepayments, deposits and other receivables			145,228
Due from a shareholder			34,048
Right-of-use operating lease assets			113,590
Plant and equipment, net			30,365
Intangible assets- Technical know-hows			818,200
Goodwill			2,974,364
Other payables and accrued liabilities			(383,087	)
Contract liabilities			(2,896	)
Due to shareholders			(99,730	)
Operating lease liability			(113,646	)
Tax payable			(31,871	)
Deferred tax liabilities			(163,640	)
Net purchase price		$	3,506,042
Less: Outstanding NPI debt owed to the Company
Accounts receivable			989,854
Notes payable			(3,066,617	)
Aggregate fair values of the assets acquired and liabilities assumed		$	1,429,279

 

The transaction resulted in a purchase price allocation of $2,974,364 to Goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of NPI and the synergies expected from the combined operations of NPI and the Company, the assembled workforce and their knowledge and experience in provision of products and projects utilizing NPI’s technical know-hows. The total amount of the Goodwill acquired is not deductible for tax purposes.

 

The Company performed goodwill impairment test at the reporting unit level on an annual basis and between annual tests when an event occurs or circumstances change indicating the asset might be impaired. Goodwill was fully impaired as of August 31, 2022. No impairment loss of Goodwill of the reporting unit of the Fintech App development was recognized for the six and three months ended February 28, 2023 and 2022.

 

19

 

 

4. PLANT AND EQUIPMENT, NET

 

Plant and equipment as of February 28, 2023 and August 31, 2022 are summarized below:

 SCHEDULE OF PLANT AND EQUIPMENT, NET

		As of February 28, 2023				As of August 31, 2022
Furniture and fixtures		$	30,340			$	30,494
Office equipment			83,466				89,858
Leasehold improvement			82,631				82,969
Total			196,437				203,321
Less: Accumulated depreciation			(150,488	)			(132,317	)
Plant and Equipment, net		$	45,949			$	71,004

 

Depreciation expenses, classified as operating expenses, were $22,116 and $21,072 for the six months ended February 28, 2023 and 2022, respectively; and $11,040 and $11,217 for the three months ended February 28, 2023 and 2022, respectively.

 

5. INTANGIBLE ASSETS, NET

 

Intangible assets costs as of February 28, 2023 and August 31, 2022 are summarized below:

 SCHEDULE OF INTANGIBLE ASSETS

		As of February 28, 2023				As of August 31, 2022
Investment platform		$	30,000			$	30,000
Technical know-hows			818,200				818,200
Trademarks			4,920				4,920
Total			853,120				853,120
Less: Accumulated amortization			(199,281	)			(199,035	)
Impairment			(649,781	)			(649,781	)
Intangible assets, net		$	4,058			$	4,304

 

Amortization expense for intangible assets was $246 and $45,008 for the six months ended February 28, 2023 and 2022, respectively; and $123 and $22,509 for the three months ended February 28, 2023 and 2022, respectively.

 

During the course of the Company’s strategic review of its operations, the Company assessed the recoverability of the carrying value of the Company’s intangible assets. The impairment charge, if any, represented the excess of carrying amounts of the Company’s intangible assets over their fair value, using the expected future discounted cash flows. No impairment loss of intangible asset was recognized for the six and three months ended February 28, 2023 and 2022.

 

As of February 28, 2023, amortization expenses related to intangible assets for future periods are estimated to be as follows:

 SCHEDULE OF AMORTIZATION EXPENSES RELATED TO INTANGIBLE ASSETS

2023 (remaining period)		$	246
2024			492
2025			492
2026			492
2027			492
2028 and thereafter			1,844
Total		$	4,058

 

20

 

 

6. NON-MARKETABLE EQUITY SECURITIES

 

On August 5, 2022, the Company obtained an aggregate of 15,000,000 shares of common stock, par value $0.0001 per share of DFP Holdings Limited (“DFP”), a Nevada corporation, as return of software development service rendered (note 7), pursuant to the Software Development Agreement and Supplementary Agreement dated January 27, 2022 and June 28, 2022, respectively among DFP and LCHD.

 

DFP engages in online higher education services. It is committed to promoting Asian talent education services, and cooperating with practical entrepreneurs on both sides of the strait to offer courses related to business management and business marketing, assisting Taiwan’s small and medium-sized corporations, entrepreneurs, and middle and high-level managers open up new ideas and improve their business vision. As of February 28, 2023 and August 31, 2022, the Company held 7.01% and 7.06%, respectively of DFP’s outstanding common stock.

 

7. RELATED PARTY TRANSACTIONS AND BALANCES

 SCHEDULE OF RELATED PARTY RELATIONSHIP

Name of Entity or Individual		Relationship with the Company
DFP Holdings Limited (“DFP”)		Note a
Reblood Biotech Corp.		Note b
Reblood Biotech Limited		Note b
Asia Pacific Integrating System Limited		Note c
Yi-Hsiu Lin		Shareholder and director of the Company
Jui-Chin Chen		Shareholder of the Company
Teh-Ling Chen		Shareholder of the Company
CPN Investment Limited		Shareholder of the Company
Kuo-Hsun Hsu		Shareholder of the Company
Chun-Shuo Huang		Shareholder of the Company
Yu-Cheng Tu		Shareholder of the Company
Chin-Chiang Wang		Shareholder of the Company
Ching-Nan Wang		Shareholder of the Company
Chin-Ping Wang		Shareholder of the Company
Shih-Chu Lo		Shareholder of the Company

 

(a)	As of February 28, 2023, the Company and Yi-Hsiu Lin held 7.01% and 7.01% of DFP’s outstanding common stock. DFP was also the shareholder of the Company.
(b)	Reblood Biotech Corp., a Nevada company, in which Yi-Hsiu Lin was the shareholder. Reblood Biotech Limited, a Hong Kong company, which was a subsidiary of Reblood Biotech Corp.
(c)	Asia Pacific Integrating System Limited, a Taiwanese company, wholly owned by Shih-Chu Lo, a shareholder of the Company, holding 100% equity interests as of February 28, 2023.

 

Related party transactions:

 

The Company entered into the following significant related party transactions:

 SCHEDULE OF RELATED PARTY TRANSACTIONS

		For the six months ended								For the three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Provision of software development service to DFP (a)		$	300,000			$	-			$	70,000			$	-
Provision of software maintenance service to DFP (a)			31,065				-				15,673				-
Rental expense to Yu-Cheng Tu (b)			-				3,239				-				4
Rental expense to Reblood Biotech Limited (d)			18,302				17,745				9,545				8,889
Interest expense to:
Teh-Ling Chen (Note 13)			-				6,000				-				3,000
CPN Investment Limited (c)			-				-				-				-
Chun-Shuo Huang (Note 10(a))			17,143				-				8,726				-
Ching-Nan Wang (Note 12)			36,000				30,000				18,000				15,000
Jui-Chin Chen (Note 10(b) and 13)			2,400				3,000				1,200				1,500
Chin-Chiang Wang (Note 10(c) and 13)			6,000				6,000				3,000				3,000
Chin-Ping Wang (Note 13)			-				2,835				-				(165	)
Ching-Nan Wang (Note 13)			-				2,835				-				(165	)

 

(a)

The Company entered into a Customized App Development Agreement providing the online and offline learning opportunities across different subjects on January 27, 2022 with DFP. The Company delivered an app and provided the follow-up maintenance service since August 2022. For the six and three months ended February 28, 2023, software maintenance income of $31,065 and $15,673, respectively was generated from this customer. Both parties entered another software development agreement on March 31, 2022 and the Company delivered the app on January 16, 2023. For the six and three months ended February 28, 2023, revenue of $300,000 and $70,000, respectively was generated.

 

21

 

 

(b)	On September 1, 2020, LOC leased an office in Taichung, Taiwan from the Company’s shareholder- Yu-Cheng Tu. The lease was renewed on April 1, 2021 for additional one-year term and early terminated on October 31, 2021. The monthly lease was for the amount of NTD 45,000 ($1,617), with a term of one year. During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $3,239, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $4, respectively that are included in general and administrative expenses.
(c)	The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. Interest of $nil was incurred for the six and three months ended February 28, 2023.
(d)	On June 1, 2021, JFB leased an office in Taipei, Taiwan from a company which was the subsidiary of Reblood Biotech Corp.. The monthly lease was for the amount of NTD 82,062 ($2,647), with a term of 16 months. On October 1, 2022, the lease was renewed for additional one year. The monthly rental was NTD 97,062 ($3,131). During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $18,302 and $17,745, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $9,545 and $8,889, respectively that are included in general and administrative expenses.
(e)	NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022.

 

Related party balances:

 

Apart from the above, the Company recorded the following significant related party balances as of February 28, 2023 and August 31, 2022:

 SCHEDULE OF RELATED PARTY BALANCES

		As of February 28, 2023				As of August 31, 2022
Accounts receivable from related parties
Receivables from DFP		$	2,705			$	2,732

 

Up to the date of this report, DFP had repaid $nil to the Company.

 

		As of February 28, 2023				As of August 31, 2022
Contract liabilities due to related parties
due to DFP		$	-			$	150,000
due to Asia Pacific Integrating System Limited		$	50,000			$	-
Contract liabilities due to related parties		$	50,000			$	-

 

22

 

 

Up to the date of this report, $nil of the above contract liabilities had been utilized.

 

		As of February 28, 2023				As of August 31, 2022
Accrued interests payable to related parties
Ching-Nan Wang (note 12)		$	20,935			$	2,935
Chun-Shuo Huang (note 10 (a))			2,851				2,851
Jui-Chin Chen (note 10(b))			5,629				3,229
Chin-Chiang Wang (note 10(c))			3,165				9,165
Accrued interests payable to related parties		$	32,580			$	18,180

 

8. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

 SCHEDULE OF PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES

		As of February 28, 2023				As of August 31, 2022
Rental and management fee deposits		$	50,952			$	100,498
Other prepaid expenses			46,663				52,723
Other taxes recoverable			2,132				35,802
Prepayments, deposits and other receivables			99,747				189,023
Less: non-current portion
Rental and management fee deposits			6,519				12,822
Prepayments, deposits and other receivables, non-current			6,519				12,822
Prepayments, deposits and other receivables, current		$	93,228			$	176,201

 

9. ACCRUED EXPENSES AND OTHER PAYABLES

 SCHEDULE OF ACCRUED EXPENSES AND OTHER PAYABLES

		As of February 28, 2023				As of August 31, 2022
Accrued interests (Note 7, 10 and 12)		$	32,580				18,180
Accrued payroll			244,805				150,932
Other accrued expenses			279,627				197,428
Other taxes payable			462				1,377
Refund liabilities			13,154				-
Point liabilities			80,338				82,638
Accrued expenses and other payables		$	650,966				450,555

 

23

 

 

10. DUE FROM (TO) SHAREHOLDERS AND DIRECTORS

 SCHEDULE OF DUE FROM (TO) SHAREHOLDERS AND DIRECTORS 

		As of  February 28, 2023				As of August 31, 2022
Other loans from shareholders:
Jui-Chin Chen (b)		$	(80,000	)		$	(80,000	)
Chun-Shuo Huang (a)			(144,248	)			(145,159	)
Mei-Ying Huang (d)			(2,608	)			(35,550	)
Chin-Chiang Wang (c)			(200,000	)			(200,000	)
CPN Investment Limited (g)			(73,400	)			-
Total (Note 11)			(500,256	)			(460,709	)
Less: Other loans from shareholders, non-current			200,000				200,000
		$	(300,256	)		$	(260,709	)
Due to a director - current:
Yi-Hsiu Lin (e)		$	(1,159,788	)		$	(973,564	)
Due to shareholders - current:
Yu-Cheng Tu (e)		$	(41,377	)		$	(42,472	)
Hung-Pin Cheng (e)			(5,363	)			(471	)
Mei-Ying Huang (e)			(800	)			(800	)
Shih-Chu Lo (e)			(800	)			(800	)
Jun-Yuan Chen (e)			(800	)			(800	)
Total		$	(49,140	)		$	(45,343	)
Due from a shareholder - current:
Kuo-Hsun Hsu (f)		$	2,086			$	-

 

(a)	On February 28, 2022, the Company obtained a loan of RMB1,000,000 ($144,248) from Chun-Shuo Huang, which accrues interest at the rate of 8% per annum. The loan was due on May 27, 2022 and further extended to December 31, 2022 and accrued interest at the rate of 2% per month. The repayment was extended to June 30, 2023 as agreed by both parties. Interest of $17,143 and $nil respectively was incurred for the six months ended February 28, 2023 and 2022. Interest of $8,726 and $nil respectively was incurred for the three months ended February 28, 2023 and 2022. Interest of $2,851 was accrued as of February 28, 2023 and August 31, 2022.
(b)	The loan was modified from convertible note on March 23, 2022 and would be repayable in five installments before February 28, 2023 with 6% interest-bearing per annum. $20,000 was repaid by the Company as of February 28, 2023. On November 29, 2022, both parties entered into an amendment agreement to extend the payment time of the remaining loans and interests by November 30, 2023. For the six months ended February 28, 2023, interest of $2,400 and $3,000 were incurred respectively. For the three months ended February 28, 2023, interest of $1,200 and $1,500 were incurred respectively. Interest of $5,629 and $3,229 was accrued as of February 28, 2023 and August 31, 2022, respectively.
(c)	The loan was modified from convertible note on May 3, 2022 and would mature on November 25, 2024 with 6% interest-bearing per annum. For the six months ended February 28, 2023 and 2022, interest of $6,000 were incurred. For the three months ended February 28, 2023 and 2022, interest of $3,000 were incurred. Interest of $3,165 and $9,165 was accrued as of February 28, 2023 and August 31, 2022, respectively.
(d)	The Company borrowed non-interest bearing loans in the aggregate amount of NTD4,000,000 ($130,378) from Huang Mei-Ying. The loan of NTD2,500,000 ($81,486) borrowed on November 24, 2021 was due on May 24, 2022 but further extended to December 31, 2022. The loan was fully repaid on October 25, 2022. The loan of NTD1,000,000 ($32,594) borrowed on January 12, 2022 was fully repaid on July 22, 2022. NTD420,000 ($13,690) was repaid for the remaining loan of NTD500,000 ($16,297) obtained on February 9, 2022 which would be repayable based on the Company’s financial ability.
(e)	Amounts due to shareholders and a director are unsecured, interest-free with no fixed payment term.
(f)	NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022. The advance is non-interest bearing and would repayable on demand.
(g)	The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. No interest was accrued as of February 28, 2023.

 

24

 

 

11. OTHER LOANS

SCHEDULE OF OTHER LOANS 

		As of February 28, 2023				As of August 31, 2022
Other loans:
- from shareholders (note 10)		$	500,256			$	460,709
- from a non-related party			5,802				-
			506,058				460,709
Less: Other loan, non-current:			(200,000	)			(200,000	)
		$	506,058			$	260,709

 

On September 15, 2022, the Company borrowed non-interest bearing loan of NTD30,000 ($978) from a non-related company which was owned by an employee of the Company. The loan would be repayable on September 15, 2023. Further non-interest loan of NTD148,000 ($4,824) was borrowed in January 2023 and would be repayable in one year.

 

12. BONDS PAYABLE

 

The Company entered into a Bond Purchase Agreement with Ching-Nan Wang (who became the Company’s shareholder in May 2021) on August 14, 2019, pursuant to which the Company issued and sold to the purchaser a bond at an aggregate purchase price of $600,000. The bond will mature three years from August 14, 2019. Interest on the bond accrues at rate of 10% per annum and is payable on semi-yearly basis. The Company may exercise its right to repay this bond at any time on or before two years from the maturity date by wiring 100% of all outstanding principal and interest to the purchaser. On August 10, 2022, the bond was further extended to August 14, 2023 and 12% p.a. interest was payable quarterly. The bond was collateralized by 2,000,000 shares of DFP Holdings Limited and 1,000,000 shares of Reblood Biotech Corp. held by Yi-Hsiu Lin. Interest of $36,000 and $30,000 was incurred in six months ended February 28, 2023 and 2022, respectively. Interest of $18,000 and $15,000 was incurred in three months ended February 28, 2023 and 2022, respectively. Interest of $20,935 and $2,935 was accrued as of February 28, 2023 and August 31, 2022, respectively.

 

13. CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES

 

The Company entered into a series of Convertible Promissory Note Purchase Agreements (the “Agreements”) with certain investors between March 2020 and January, 2021. Pursuant to the Agreements, the Company issued certain Convertible Promissory Notes (the “Notes”) to the investors in a total principal amount of $900,000. A summary of the major terms of the Agreements are presented as follows:

SCHEDULE OF CONVERTIBLE NOTES PAYABLE 

		Principal amount				Issue date		Maturity date		Interest rate
Jui-Chin Chen (a)			100,000			March 18, 2020		March 18, 2022			6	%
Teh-Ling Chen (b)			100,000			November 2, 2020		November 2, 2022			6	%
Chin-Ping Wang (c)			200,000			November 25, 2020		November 25, 2022			6	%
Chin-Nan Wang (d)			200,000			November 25, 2020		November 25, 2022			6	%
Chin-Chiang Wang (d)			200,000			November 25, 2020		November 25, 2022			6	%
Teh-Ling Chen (e)			100,000			January 15, 2021		January 15, 2023			6	%
		$	900,000

 

(a)	On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen.
(b)	On November 2, 2020, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on November 2, 2022 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.

  

25

 

 

(c)	On November 25, 2020, the Company issued a Note in the principal amount of $200,000, which accrues interest at the rate of 6% per annum, to a shareholder – Chin-Chiang Wang. The Note is due on November 25, 2022 and unsecured. On May 3, 2022, the Company entered into an amendment to the Note and the convertible promissory note purchase agreement with Chin-Chiang Wang, mutually agreed to extend the maturity date to November 25, 2024 and cancel the conversion option. The balance was classified as non-current 6% loan on the same date (Note 10(c)).
(d)	On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.
(e)	On January 15, 2021, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on January 15, 2023 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.

 

For each of the Notes, the Company is entitled to a one-year extension. The outstanding principal amounts of the notes are convertible at any time at the option of the holders into common stock at a conversion price of $0.40 per share. Each of the noteholders may convert part of the principal outstanding in increments of $10,000 or multiples of $10,000 at any time. Accrued interest, if any, will be forfeited on any principal amount being converted.

 

The conversion feature is dual indexed to the Company’s stock, and is considered an embedded derivative which needs to be bifurcated from the host instrument in accordance with ASC 815.

 

ASC 815-15-25 provides that if an entity has a hybrid financial instrument that would require bifurcation of embedded derivatives under ASC 815, the entity may irrevocably elect to initially and subsequently measure a hybrid financial instrument in its entirety at fair value with changes in fair value recognized in earnings. The fair value election can be made instrument by instrument and shall be supported by concurrent documentation or a preexisting documented policy for automatic election.

 

The Company elected to measure the Notes in their entirety at fair value with changes in fair value recognized as non-operating income or loss at each balance sheet date in accordance with ASC 815-15-25.

 

During the six months ended February 28, 2023 and 2022, interest of $nil and $20,670 were incurred on the Notes, respectively.

 

During the three months ended February 28, 2023 and 2022, interest of $nil and $7,170 were incurred on the Notes, respectively.

 

 14. INCOME TAXES

 

For the period ended February 28, 2023 and 2022, the local (United States) and foreign components of loss before income tax were comprised of the following:

 

SCHEDULE OF INCOME/(LOSS) BEFORE INCOME TAXES

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		Six months ended								Three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Tax jurisdictions from:
- Local		$	(457,623	)		$	(2,375,752	)		$	(349,474	)		$	(1,450,149	)
- Foreign, representing
Seychelles			-				-				-				-
British Virgin Islands			(1,399	)			(1,855	)			(255	)			(298	)
Taiwan			(437,102	)			(1,251,440	)			(134,125	)			(567,529	)
PRC			(337,557	)			(254,628	)			(131,628	)			(135,191	)
Hong Kong			(208,857	)			(621,575	)			(107,983	)			(228,714	)
Tax jurisdictions from foreign			(208,857	)			(621,575	)			(107,983	)			(228,714	)
Loss before income tax			(1,446,003	)			(4,505,250	)			(726,930	)			(2,381,881	)

 

26

 

 

The components of the benefit for income taxes expenses are:

 

SCHEDULE OF COMPONENTS OF PROVISION BENEFIT FOR INCOME TAXES

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		Six months ended								Three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Current		$	-			$	-			$	-			$	-
Deferred			-				(8,964	)			-				(4,482	)
Total income tax benefit		$	-			$	(8,964	)		$	-			$	(4,482	)

 

The benefit for income taxes consisted of the following:

 

SCHEDULE OF PROVISION FOR INCOME TAXES

		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
		Six months ended								Three months ended
		February 28, 2023				February 28, 2022				February 28, 2023				February 28, 2022
Loss before income taxes		$	(1,446,003	)			(4,505,250	)			(726,930	)		$	(2,381,881	)
Statutory income tax rate			21	%			21	%			21	%			21	%
Income tax credit computed at statutory income rate			(302,933	)			(946,103	)			(151,928	)			(400,195	)
Reconciling items:
Non-deductible expenses			53,183				311,315				5,280				256,929
Share-based payments			92,867				222,771				56,467				47,373
Tax effect of tax exempt entity			294				390				54				63
Rate differential in different tax jurisdictions			(9,006	)			15,988				(5,678	)			7,410
Valuation allowance on deferred tax assets			165,595				386,675				95,805				183,938
Income tax benefit		$	-			$	(8,964	)		$	-			$	(4,482	)

 

United States of America

 

The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of February 28, 2023, the operations in the United States of America incurred $2,399,038 of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carryforwards begin to expire in 2037, if unutilized. As of February 28, 2023, the Company has provided for a full valuation allowance of $503,798 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

Seychelles

 

Under the current laws of the Seychelles, LFGL is registered as an international business company, as such, LFGL is governed by the International Business Companies Act of Seychelles and not subject to income taxes in Seychelles.

 

British Virgin Islands

 

NPI is tax exempted in the British Virgin Islands where it was incorporated.

 

Taiwan

 

LOC is subject to corporate income tax (“CIT”) in Taiwan. Since January 1, 2018, the CIT rate in Taiwan is 20%. As of February 28, 2023, LOC had net operating loss carry-forwards in Taiwan of $3,883,706, which will expire in various years through 2027. The Company has provided for a full valuation allowance of $697,724 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

27

 

 

PRC

 

BJDC is subject to corporate income tax (“CIT”) at 25% in accordance with the relevant tax laws and regulations of the PRC. As of February 28, 2023, BJDC had net operating loss carry-forwards in the PRC of $2,790,898, which will expire in various years through 2029. The Company has provided for a full valuation allowance of $697,724 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

Hong Kong

 

JFB is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of 16.5% on its assessable income. No provision for Hong Kong profits tax has been made in the financial statements as JFB has no assessable profits for the period. As of February 28, 2023, the operations in Hong Kong incurred $nil of cumulative net operating losses (NOL’s) which can be carried forward indefinitely to offset future taxable income. As of February 28, 2023, the Company has provided for a full valuation allowance of approximately $nil against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.

 

SCHEDULE OF DEFERRED TAX ASSETS

		February 28, 2023				August 31, 2022
Deferred tax assets:
Net operating loss carryforwards
– United States of America		$	(503,798	)		$	(500,564	)
– Taiwan			(776,741	)			(699,772	)
– PRC			(697,724	)			(600,648	)
– Hong Kong			-				-
Deferred tax assets: net operating loss carryforwards			-				-
Less: valuation allowance			1,978,263				1,800,984
Deferred tax assets, net of valuation allowance		$	-			$	-

 

15. COMMON STOCK

 

On September 1, 2021, the Company renewed the employment agreement with Yi-Hsiu Lin for additional two years. Pursuant to the agreement, Mr. Lin will be compensated at an annual rate of $120,000 per year (the “Base Compensation”), prorated for any partial year, payable in cash or with 2,500,000 shares of restricted common stock, which would vest as of March 1, 2022 and March 1, 2023. In addition, Mr. Lin may be entitled to bonus compensation of up to three times the Base Compensation based on his achievement of appropriate performance criteria to be determined by the board of directors or a committee thereof. The bonus compensation offer was cancelled on March 1, 2022. The fair value of the shares of restricted common stock for each of the years ending August 31, 2023 and 2022 was $250,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $125,000 as remuneration. During the three months ended February 28, 2023 and 2022, the Company amortized $62,500 as remuneration.

 

On September 1, 2021, the Company issued a director offer letter to Shui Fung Cheng, pursuant to which Mr. Cheng agreed to serve as a director of the Company for a one-year term. For his service as a director, Mr. Cheng would receive an annual compensation, prorated for any partial year, in the form of $80,000 in cash or 1,500,000 shares of restricted common stock. The offer letter provided that compensation, either in cash or shares of restricted common stock, would be paid or granted immediately on September 1, 2021. On September 1, 2022, the Company re-issued a director offer letter to Shui Fung Cheng with the same compensation for further one year. The fair value of the shares of restricted common stock granted on September 1, 2021 and 2022 was $150,000 each, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $75,000 as remuneration. During the three months ended February 28, 2023 and 2022, the Company amortized $37,500 as remuneration.

 

28

 

 

On March 1, 2021, the Company renewed the consulting agreement with a consultant to provide business advisory services to the Company for a one-year term. Pursuant to the agreement, the Company agreed to pay the consultant a fee of $60,000 and 1,000,000 shares of restricted common stock, which vested not later than June 30, 2021, prorated for any partial year. The fair value of the shares of restricted common stock was $100,000 which was calculated based on a price per share of $0.10 and amortized over the service term. During the six and three months ended February 28, 2022, the Company amortized $50,000 and $25,000 respectively as consulting expenses under this agreement. The shares were granted and issued on December 16, 2021.

 

On June 30, 2020, the Company’s board of directors agreed to grant a new employee of JFB, (i) 5,000,000 shares of restricted common stock in connection with such employee’s employment (the “Inducement Shares”) and (ii) 5,000,000 shares of restricted common stock upon the achievement of each of two milestones set forth in such employee’s offer letter relating to the FinMaster mobile application. The fair value of the shares of restricted common stock to be issued to him was $6,000,000, which was calculated based on a price per share of $0.40. As of August 31, 2022, apart from the 5,000,000 Inducement Shares, 5,000,000 shares were vested to the employee upon achievement of the first milestone set forth in the employee’ offer letters, the Company amortized $139,560, $1,622,940 and $237,500, respectively as salaries under this milestone for the years ended August 2022, 2021 and 2020. However, during the year ended August 31, 2022, the company reassessed the likelihood that the employee will achieve for the second milestone and determined that the employees will not achieve the targets of the second milestone, the Company recognized a reverse to salary $348,627 under this milestone. During the six and three months ended February 28, 2022, the Company amortized $242,481 and $33,084, respectively, as salaries. As of February 28, 2022, 10,000,000 shares were issued.

 

The Company issued 8,415,111 shares of common stock for the acquisition of NPI in August 2020 (Note 1).

 

On August 1, 2020, the Company entered into a one-year consulting services agreement with a company. Pursuant to the agreement, the Company agreed to pay the provider an annual compensation of $66,000, prorated for any partial year. In addition, for the services rendered by the provider’s employees, the provider was granted 1,000,000 shares of restricted common stock, vested on September 15, 2020. The fair value of 1,000,000 shares granted was $400,000, which was calculated based on the stock price of $0.40 per share and will be amortized over the service term. During the six and three months ended February 28, 2022, the Company recognized $16,666 and $nil respectively as compensation under these arrangements. The shares were issued on January 6, 2021.

 

On November 1, 2020, the Company entered into one-year consulting agreements with two consultants to assist in monitoring and improving FinMaster APP. Pursuant to the agreement, the Company agreed to pay the consultants 2,500,000 shares of restricted common stock, which vested on November 1, 2020, prorated for any partial year. The fair value of the shares of restricted common stock was $2,500,000, which was calculated based on a price per share of $1.00 and amortized over the service term. During the six and three months ended February 28, 2022, the Company amortized $416,666 and $nil respectively as consulting expenses under these agreements. The shares were issued on December 22, 2020.

 

On February 8, 2021, the Company and First Leader Capital Ltd. mutually agreed to further forfeit and surrender 5,000,000 shares (the “Surrendered Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Surrendered Shares were automatically cancelled and retired. First Leader Capital Ltd. agreed to forfeit and cancel the Surrendered Shares in exchange for reducing the Company’s outstanding Common Stock to be more in line with what management deems to be market expectations based on the Company’s current valuation.

 

29

 

 

On May 17, 2021, the Company and First Leader Capital Ltd., again, mutually agreed to forfeit and surrender 13,132,500 shares (the “Surrendered Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Surrendered Shares were automatically cancelled and retired. First Leader Capital Ltd. agreed to forfeit and cancel the Surrendered Shares in exchange for reducing the Company’s outstanding Common Stock to be more in line with what management deems to be market expectations based on the Company’s current valuation.

 

On September 1, 2021, the Company issued an offer letter to Hsu Kuo-Hsun, pursuant to which Mr. Hsu agreed to serve as chairman of LOC for two years. Per the terms of the offer letter, Mr. Hsu will receive a monthly remuneration of NT$60,000 (equivalent to $1,902) in cash and 2,400,000 shares of restricted common stock, which shall be granted in two equal tranches and vested on March 1, 2022 and March 1, 2023. The fair value of the shares of restricted common stock for the each of years ending August 31, 2023 and 2022 was $120,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $60,000 each as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $30,000 each as consulting expenses under this agreement. 1,200,000 shares were issued on October 5, 2022.

 

On September 1, 2021, the Company issued a Senior Vice President (“SVP”) offer letter to Chiao Chien, pursuant to which Mr. Chiao agreed to serve as SVP of user experience of the Company for two years. For his services, Mr. Chiao will receive a monthly remuneration of RMB 17,000 (equivalent to $2,385) in cash and 3,000,000 shares of restricted common stock, which shall be granted in two equal tranches and vested on March 1, 2022 and March 1, 2023. The fair value of the shares of restricted common stock for the each of years ending August 31, 2023 and 2022 was $150,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $75,000 each as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $37,500 each as consulting expenses under this agreement. 1,500,000 shares were issued on October 5, 2022.

 

On December 21, 2021, pursuant to the 2021 Equity Incentive Plan, the Company granted an aggregate of 9,550,850 non-restricted share units of the Company’s common stock to certain employees and consultants of the Company. In accordance with the vesting schedule of the grant, the restricted shares will vest immediately. The fair price of the non-restricted shares was $0.10 per share. The Company recognized the share-based compensation expenses over the vesting period on a graded-vesting method. The Company recorded non-cash share-based compensation of $nil for the six and three months ended February 28, 2022, in respect of the non-restricted shares granted. The shares were issued on March 2, 2022. As of February 28, 2023, neither unrecognized stock-based compensation was associated with the above share units nor vested shares were to be issued.

 

On January 26, 2022, the shareholders- Chin-Ping Wang and Ching-Nan Wang, submitted conversion notices to the Company converting all of the outstanding balances of their Convertible Notes payable (Note 13) into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.

 

On May 12, 2022, the shareholder- Teh-Ling Chen submitted conversion notice to the Company converting all of the outstanding balance of his Convertible Notes payable (Note 13) into an aggregate of 2,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.

 

On June 17, 2022, 500,576 shares of the Company were issued to shareholder- Teh-Ling Chen for the repayment of loan balance and accrued interest.

 

On October 1, 2022, the Company entered into consultant agreement with Shou-Hung Hsu for two years. Pursuant to the agreement, Mr. Hsu was compensated at $25,000 per year, prorated for any partial year, payable in cash or with 700,000 shares of restricted common stock, which would vest as of December 31, 2022 and September 30, 2023. The fair value of the shares of restricted common stock for the first year was $35,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $14,583 and $nil, respectively as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $8,750 and $nil, respectively as consulting expenses under this agreement.

 

On February 28, 2023, the Company dismissed ten employees located in Beijing and was liable to pay severance payment of $129,572 (RMB907,000), payable in cash of $36,930 (RMB258,500) and with 926,429 shares of restricted common stock, which would vest on August 31, 2023. The fair value of the shares of restricted common stock was $92,642, which was calculated based on a price per share of $0.10. During the six months ended February 28, 2023 and 2022, the Company recognized $92,642 and $nil, respectively as severance payment. During the three months ended February 28, 2023 and 2022, the Company recognized $92,642 and $nil, respectively as severance payment.

 

From May 2020 to August 2021, the Company entered into securities purchase agreements with several accredited investors whereby the investors purchased a total of 37,157,535 shares of the Company’s common stock at an average price of $0.140 per share. The Company received aggregate gross proceeds of $5,206,994. Pursuant to the terms of the securities purchase agreements, the investors have piggyback registration rights with respect to the shares. The shares were fully issued by August 30, 2021.

 

From September 2021 to August 2022, the Company entered into securities purchase agreements with several accredited investors whereby the investors purchased a total of 19,170,000 shares of the Company’s common stock at an average price of $0.12 per share. The Company received aggregate gross proceeds of $2,290,000. Pursuant to the terms of the securities purchase agreements, the investors have piggyback registration rights with respect to the shares. The shares were fully issued by September 2, 2022.

 

On October 31, 2022, the Company entered into a securities purchase agreement with an individual accredited investor (the “Investor”), to issue and sell to the Investor 1,000,000 shares (the “Shares”) of the Company’s restricted common stock, par value $0.0001 per share, for a purchase price of $0.30 per share. Pursuant to the terms of the securities purchase agreement, the investor will have piggyback registration rights with respect to the shares. The Company issued the Shares to the Investor on November 2, 2022, resulting in $300,000 in aggregate proceeds for the Company.

 

As of February 28, 2023, unrecognized share-based compensation expense was $355,417.

 

As of February 28, 2023, 4,522,262 shares were granted to employees and vested but not yet issued.

 

30

 

 

16. COMMITMENTS AND CONTINGENCIES

 

During the period ended February 28, 2023, the Company entered into month-to-month lease agreements with independent third parties to rent office and staff quarter premises in Taiwan, Shenzhen, Beijing and Hong Kong. The rental expense for the six months ended February 28, 2023 and 2022 were $130,646 and $148,477 respectively; and $64,964 and $59,758 for the three months ended February 28, 2023 and 2022 respectively.

 

The components of lease costs, lease term and discount rate with respect of leases with an initial term of at least 12 months are as follows:

 

SCHEDULE OF COMPONENTS OF LEASE COSTS, LEASE TERM AND DISCOUNT RATE

		For the six months ended
		February 28, 2023				February 28, 2022
Operating lease cost – classified as general and administrative expenses		$	123,169			$	176,635
Weighted Average Remaining Lease Term – Operating leases			1.20 years				1.43 years
Weighted Average Discounting Rate – Operating leases			5.42	%			5.42	%

 

The following is a schedule, by years, of maturities of lease liabilities as of February 28, 2023:

 

SCHEDULE OF MATURITIES OF LEASE LIABILITIES

		Operating leases
2023 (remaining period)		$	49,100
2024			42,472
2025			6,300
2026			-
2027			-
Thereafter			-
Total undiscounted cash flows			97,872
Less: imputed interest			(3,097	)
Present value of lease liabilities		$	94,775

 

Contingencies

 

The Labor Contract Law of the People’s Republic of China requires employers to assure the liability of the severance payments if employees are terminated due to restructuring, mutual agreement or expiration of a fixed-term labor contract. The Company has estimated its possible severance payments of approximately $72,000 and $146,000 as of February 28, 2023 and August 31, 2022, respectively. On February 28, 2023, the Company dismissed ten employees and severance payments of $129,572 (RMB907,000) were incurred. The compensation was payable in the form of cash of $36,930 (RMB258,500) and 926,429 restricted shares of the Company. The fair value of the shares of restricted common stock was $92,642, which was calculated based on a price per share of $0.10.The shares will be issued by August 31, 2023.

 

In Taiwan, an employer can terminate an employment contract with notice (or with pay in lieu of notice) and with severance pay only due to stoppage of business or a transfer of ownership, business losses or curtailment of business operations, suspension of operations due to a force majeure event, or alteration of the business nature, forcing a reduction in the number of employees, and those employees cannot be reassigned to other suitable positions, or the employee is incapable of performing the tasks assigned. The Company has estimated its possible severance payments of approximately $40,000 and $52,000 as of February 28, 2023 and August 31, 2022, respectively, which have not been reflected in its condensed consolidated financial statements, because it is more likely than not that this will not be paid or incurred.

 

17. SUBSEQUENT EVENTS

 

On March 15, 2023, the Company issued an offer letter to Kuo-Kang Chang, pursuant to which Mr. Chang agreed to serve as senior VP of marketing and branding strategy for two years. For his services, Mr. Chang will receive an annual remuneration of $20,000 in cash or 1,000,000 shares of restricted common stock. In addition, Mr. Chang may be entitled to additional 1,000,000 restricted shares based on his achievement of appropriate performance criteria to be determined by the board of directors or a committee thereof. The fair value of the shares of restricted common stock for the first year was $10,000, which was calculated based on a price per share of $0.10 and amortized over the service term. 1,000,000 shares were issued to Mr. Chang on April 10, 2023.

 

On March 15, 2023, the board of directors decided to dissolve LOC. LOC then entered into a de-registration process and its business was taken over by LCHD. Taichung City Government approved the dissolution on April 25, 2023.  $204,759 (approximately NTD6.3 million) of overdue debt was claimed by the creditors and it was included in the other accrued expenses (note 9).

 

From March to April 2023, the Company entered into securities purchase agreements with two accredited investors whereby the investors purchased a total of 5,000,000 shares of the Company’s common stock at a price of $0.10 per share. The Company received aggregate gross proceed of $500,000. Pursuant to the terms of the securities purchase agreement, the investor will have piggyback registration rights with respect to the shares. The shares were issued to the investors by April 10, 2023.

 

From May to June 2023, the Company received aggregate gross proceeds of $201,540 from several accredited investors whereby the investors intended to purchase a total of 4,030,000 shares of the Company’s restricted common stock at an average price of $0.05 per share. The shares are expected to be issued by end of July 2023.

 

On April 20, 2023, the Company entered into consultant agreement with Yueh-Hung Chou for one year. Pursuant to the agreement, Mr. Chou will be compensated at NT$25,000 per month. In addition, he would be remunerated by 300,000 restricted shares of the Company upon the achievement of certain performance as agreed.

 

The Company borrowed a principal amount of $100,974 (RMB700,000) on April 26, 2023 from a shareholder – Chang-Ming Lu. The loan was 5% p.a. interest bearing payable on monthly basis and would be matured on December 31, 2023. The loan was fully received by May 8, 2023. A further loan of $43,274 (RMB300,000) was borrowed on June 5, 2023. The loan was 5% p.a. interest bearing payable on monthly basis and would be matured on July 5, 2023.

 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

The following discussion and analysis of our financial condition and results of operations should be read together with our unaudited financial statements and related notes appearing elsewhere in this Form 10-Q and our audited financial statements and related notes for the year ended August 31, 2022 included in our most recent annual report on Form 10-K. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors.

 

Company Overview  

 

Leader Capital Holdings Corp. is an early stage technology company that conducts its operations through its wholly owned subsidiaries, Leader Financial Group Limited, a Seychelles corporation incorporated on March 6, 2017 (“LFGL”), and JFB Internet Service Limited, a Hong Kong corporation incorporated on July 6, 2017 (“JFB”).

 

Through LFGL, we act as the service provider for a mobile application investment platform that is owned by JFB. The platform connects investors with financial service providers in an effort to sharpen operational efficiency and seeks to address customer demands for more innovative services. It is a ready-made application created to meet the needs of financial service providers, especially trust companies and insurance companies. The platform is customizable and each financial institution can adjust the platform to better suit their client’s needs.

 

We had an agreement with a third party whereby we authorized the third party to use our investment platform and related applications until December 31, 2020 for a fee. The agreement terminated on December 31, 2020.

 

We developed a new, comprehensive mobile application, the FinMaster App. The FinMaster App intends to offer one-stop solution for multi-facet financial services. Key services include real-time Taiwan stock market quotes, financial industry information and news, social media activities, on-line live broadcast, A.I. stock selection and other features. With more than 380,000 downloads of the FinMaster App, we continue to collect data as well as user feedback to enhance current APP features and fine tune R&D plans to optimize customer experience.

 

On August 17, 2020, the Company, through its wholly-owned subsidiary JFB, acquired all of the issued and outstanding capital stock (the “Acquisition”) of Nice Products Inc., a company organized under the laws of the British Virgin Islands and the Company’s software developer of the FinMaster APP (“NPI”), pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of August 17, 2020, among the Company, JFB, NPI, the selling shareholders of NPI identified therein (each a “Seller,” and, collectively, the “Sellers”) and the representative of the Sellers identified therein. The aggregate purchase price for the acquisition was $4,850,000, less certain discounts, expenses and reductions for outstanding NPI debt owed to the Company and/or its affiliates. The net purchase price for the acquisition was $3,506,042, payable in 8,415,111 shares of the Company’s common stock to the Sellers in accordance with their respective pro rata percentage.

 

As a result of the acquisition, the Company now owns, indirectly through JFB, 100% of NPI. NPI, through its wholly-owned subsidiaries, LOC Weibo Co., Ltd. (“LOC”) and Beijing DataComm Cloud Media Technology Co., Ltd.,(“BJDC”) companies organized under the laws of the Republic of China and the laws of the People’s Republic of China, respectively, engages primarily in the development of ecological-system applications, integration of big data and promotion of OTT applications. As a result of the acquisition, our FinMaster App was launched to the market in a timely and efficient manner and clients on this open platform are served more effectively and satisfactorily. Based on the successful development of our FinMaster App, LOC and BJDC jointly accumulated in-depth knowledge of FinTech App development, including the marketing expertise built up and the perfect allocation of the Company’s resources. We believe LCHD, through LOC and BJDC will further conclude more customized App contracts to help the clients to incubate the avant-garde Apps to expand their businesses efficiently and effectively.

 

With continued losses suffered since the acquisition, we decided to cease the operation of LOC to cut the loss. LOC entered into a de-registration process and its business was taken over by LCHD. Taichung City Government approved the dissolution on April 25, 2023.

 

 

We have incurred significant operating losses. As of February 28, 2023 and August 31, 2022, our accumulated deficits were $36,367,167 and $34,921,164, respectively. We generated revenue of $348,461 and $22,436 for the six months ended February 28, 2023 and 2022, respectively. Our net losses were principally attributed to general and administrative expenses.

 

Going Concern

 

The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.

 

As of February 28, 2023, we have suffered recurring losses from operations, and recorded an accumulated deficit, a working capital deficit and a shareholders’ deficit of $36,367,167, $2,782,280 and $2,851,104, respectively. These conditions raise substantial doubt about our ability to continue as a going concern. The ability to continue as a going concern is dependent upon our profit generating operations in the future and/or obtaining the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they become due.

 

We expect to finance our operations primarily through cash flows from operations, loans from existing directors and shareholders and placements of capital stock for additional funding. In the event that we require additional funding to finance the growth of our current and expected future operations as well as to achieve our strategic objectives, a shareholder has indicated the intent and ability to provide additional financing. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to us. Even if we are able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.

 

Our business continues to be impacted by the COVID-19 pandemic. Border controls and travel restrictions, such as those imposed in Taiwan, Hong Kong, and mainland China, have had and may continue to have an adverse effect on our operations. The impact of the pandemic and the measures taken by the relevant governments to contain the disease on the global economy, the economies of the markets in which we operate, and the movement of people have adversely affected, and we expect will continue to adversely affect, the roll out of our business plans and results of operations throughout the fiscal year of 2023. If any of our employees is suspected of having infected COVID-19, we may under certain circumstances be required to quarantine such employees and the affected areas of our premises, thus we have to temporarily suspend part of or all of our operations. Furthermore, government actions to contain the outbreak may restrict the level of economic activities in affected regions, including Taiwan, and affect the willingness and ability of our employees and customers to travel, which may also adversely affect our business and prospects. As a result, we cannot assure you that any future outbreak of contagious diseases would not have a material adverse effect on our financial condition and results of operations.

 

Affected by the COVID-19, the Company had to re-organize to improve its market competitiveness and to warrant the survival and future development. The Company also had downsized the operations to safeguard the financial position by reduction of labor costs，reduction of office space, and simplified operational procedures.

 

The Company’s reduction of labor costs were done through resignation and layoffs, whereas all layoffs were processed according to local governing labor laws.

 

These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should we be unable to continue as going concern.

 

Liquidity and Capital Resources

 

The following table sets forth a summary of our cash flows for the periods indicated:

 

		For the six months ended
		February 28, 2023				February 28, 2022
Net cash used in operating activities		$	(708,172	)		$	(1,940,530	)
Net cash used in investing activities			(1,098	)			(29,224	)
Net cash provided by financing activities			477,999				1,340,646
Cash and cash equivalents, beginning of period			213,270				787,154
Effects of exchange rate changes on cash and cash equivalents			20,943				(475	)
Cash and cash equivalents, end of period		$	2,942			$	157,571

 

 

Cash Used in Operating Activities

 

Net cash used in operating activities for the six months ended February 28, 2023 and 2022 was $708,172 and $1,940,530, respectively. The cash used in operating activities was mainly for payment of general and administrative expenses.

 

Cash Used in Investing Activities

 

Net cash used in investing activities for the six months ended February 28, 2023 and 2022 was $1,098 and $29,224, respectively. The net cash used in investing activities was related to the acquisition of plant and equipment.

 

Cash Provided by Financing Activities

 

Net cash provided by financing activities for the six months ended February 28, 2023 and 2022 was $477,999 and $1,340,646, respectively. The cash provided by financing activities were related to the issuance of shares in private placement, and advances from shareholders and a director and partially offset by the repayment to shareholders and directors.

 

Results of Operations

 

Comparison for the six months ended February 28, 2023 and 2022

 

		For the six months ended
		February 28, 2023				February 28, 2022
Revenue		$	348,461			$	22,436
Research and development expenses			(216,688	)			(261,179	)
Sales and marketing expenses			(16,946	)			(247,536	)
General and administrative expenses			(1,467,727	)			(2,781,422	)
Loss from operations			(1,352,900	)			(3,267,701	)
Interest expenses			(61,601	)			(50,696	)
Loss on change in fair value of convertible notes			-				(1,181,330	)
Other expense			(31,502	)			(5,523	)
Loss before income tax			(1,446,003	)			(4,505,250	)
Income tax benefit			-				8,964
Net loss		$	(1,446,003	)		$	(4,496,286	)

 

Revenue

 

From September 2020, we generated revenue from a new, more comprehensive mobile application, which we refer to as the FinMaster App. We also provided software development and maintenance services.

 

We generated revenue of $348,461 and $22,436 for the six months ended February 28, 2023 and 2022, respectively. The increment of revenue was arisen from the new custom-made app project commenced in the current fiscal year.

 

 

Research and Development Expenses

 

Research and development expenses for the six months ended February 28, 2023 and 2022 amounted to $216,688 and $261,179, respectively which primarily represented the charges for R&D and consulting work performed by third parties and salaries and benefits for those employees engaged in research, design and development activities after our acquisition of NPI in August 2020. The reduction of expenses was mainly due to the termination of consultancy agreement on December 31, 2021.

 

Sales and Marketing Expenses

 

Sales and marketing expenses were $16,946 and $247,536 for the six months ended February 28, 2023 and 2022, respectively. It consists of the advertising costs and the redeemable point liability charges after our acquisition of NPI in August 2020. The Company found the media advertising less effective than prior period, thus maintained cost control over the advertising expense during the six months ended February 28, 2023, and the sales and marketing expenses decreased.

 

General and Administrative Expenses

 

General and administrative expenses were $1,467,727 and $2,781,422 for the six months ended February 28, 2023 and 2022, respectively. The decrease was mainly resulted from a decrease in computer and networking, share-based compensation and payroll from $279,317, $1,060,813 and $700,813, respectively for the six months ended February 28, 2022 to $167,261, $442,226 and $350,367, respectively for the six months ended February 28, 2023.

 

Loss on change in fair value of convertible notes

 

We incurred a fair value loss of $nil and $1,076,830 on our convertible promissory notes for the six months ended February 28, 2023 and 2022, respectively. We elected to measure the convertible promissory notes in their entirety at fair value with changes in fair value recognized as non-operating income or loss at each balance sheet date.

 

Other Expense

 

Other expense for the six months ended February 28, 2023 amounted to $31,502 as compared to $5,523 in the same period of prior year. Other expense mainly consists of the exchange difference, net which was exchange differences arose from the depreciation/appreciation of NTD and RMB against USD for inter-group remittance.

 

Net Loss

 

Our net loss was $1,446,003 and $4,496,286 for the six months ended February 28, 2023 and 2022, respectively. The net loss was mainly derived from our general and administrative expenses.

 

Comparison for the three months ended February 28, 2023 and 2022

 

		For the three months ended
		February 28, 2023				February 28, 2022
Revenue		$	93,921			$	7,631
Research and development expenses			(110,410	)			(114,896	)
Sales and marketing expenses			(3,163	)			(33,764	)
General and administrative expenses			(769,108	)			(1,110,932	)
Loss from operations			(788,760	)			(1,251,961	)
Interest expenses			(30,937	)			(22,196	)
Loss on change in fair value of convertible notes			-				(1,076,830	)
Other income (expense)			92,767				(30,894	)
Loss before income tax			(726,930	)			(2,381,881	)
Income tax benefit			-				4,482
Net loss		$	(726,930	)		$	(2,377,399	)

 

Revenue

 

From September 2020, we generated revenue from a new, more comprehensive mobile application, which we refer to as the FinMaster App. We also provided software development and maintenance services.

 

We generated revenue of $93,921 and $7,631 for the three months ended February 28, 2023 and 2022, respectively. The increment of revenue was arisen from the new custom-made app project commenced in the current fiscal year.

 

 

Research and Development Expenses

 

Research and development expenses for the three months ended February 28, 2023 and 2022 amounted to $110,410 and $114,896, respectively which primarily represented the charges for R&D and consulting work performed by third parties and salaries and benefits for those employees engaged in research, design and development activities after our acquisition of NPI in August 2020. The reduction of expenses was mainly due to the termination of consultancy agreement on December 31, 2021.

 

Sales and Marketing Expenses

 

Sales and marketing expenses were $3,163 and $33,764 for the three months ended February 28, 2023 and 2022, respectively. It consists of the advertising costs and the redeemable point liability charges after our acquisition of NPI in August 2020. The Company found the media advertising less effective than prior period, thus maintained cost control over the advertising expense during the three months ended February 28, 2023, and the sales and marketing expenses decreased.

 

General and Administrative Expenses

 

General and administrative expenses were $769,108 and $1,110,932 for the three months ended February 28, 2023 and 2022, respectively. The decrease was mainly resulted from a decrease in computer and networking and payroll from $134,098 and $371,495, respectively for the three months ended February 28, 2022 to $73,819 and $182,472, respectively for the three months ended February 28, 2023.

 

Loss on change in fair value of convertible notes

 

We incurred a fair value loss of $nil and $1,110,932 on our convertible promissory notes for the three months ended February 28, 2023 and 2022, respectively. We elected to measure the convertible promissory notes in their entirety at fair value with changes in fair value recognized as non-operating income or loss at each balance sheet date.

 

Other Income (Expense)

 

Other income (expense) for the three months ended February 28, 2023 amounted to $92,767 as compared to $(30,894) in the same quarter of prior year. Other income (expense) mainly consists of the exchange difference, net which was exchange differences arose from the depreciation/appreciation of NTD and RMB against USD for inter-group remittance.

 

Net Loss

 

Our net loss was $726,930 and $2,377,399 for the three months ended February 28, 2023 and 2022, respectively. The net loss was mainly derived from our general and administrative expenses.

 

Off-Balance Sheet Arrangements

 

As of February 28, 2023, we have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to our stockholders.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

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

 

 

Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

As required by Rule 13a-15 under the Exchange Act, our management has carried out an evaluation, with the participation and under the supervision of our principal executive officer and principal financial and accounting officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of February 28, 2023. Disclosure controls and procedures refer to controls and other procedures designed to ensure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating and implementing possible controls and procedures.

 

Management conducted its evaluation of disclosure controls and procedures under the supervision of our principal executive officer and principal financial and accounting officer. Based upon, and as of the date of this evaluation, our principal executive officer and principal financial and accounting officer have concluded that our disclosure controls and procedures were not effective as of February 28, 2023 due to the following material weaknesses in our internal control over financial reporting.

 

1.	We do not have an audit committee – While we are not obligated to have an audit committee, it is management’s view that such a committee, including a financial expert member, is an utmost important entity level control over the Company’s financial reporting. Currently, our Chief Executive Officer and directors act in the capacity of the audit committee, and do not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities.
2.	We do not have adequate written policies and procedures – Due to lack of adequate written policies and procedures for accounting and financial reporting, we did not establish a formal process to close our books monthly and account for all transactions in a timely manner.
3.	We did not implement appropriate information technology controls – As at August 31, 2022, we retained copies of all financial data and material agreements; however, there is no formal procedure or evidence of normal backup of our data or off-site storage of the data in the event of theft, misplacement, or loss due to unmitigated factors and we do not have sufficient control policies that prevent inappropriate and unauthorized use of the system across all layers of systems.
4.	We do not have sufficient and skilled accounting personnel with an appropriate level of technical accounting knowledge and experience in the application of accounting principles generally accepted in the United States commensurate with our financial reporting requirements.

 

Our management does not believe that these material weaknesses had a material effect on our financial condition or results of operations or caused our unaudited condensed consolidated financial statements as of and for the period ended February 28, 2023 to contain a material misstatement.

 

 

Management’s Remediation Initiatives

 

In an effort to remediate the identified material weaknesses and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

 

1.	Create a position to segregate duties consistent with control objectives and increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us.
2.	Prepare written policies and procedures for accounting and financial reporting to establish a formal process to close our books monthly on an accrual basis and account for all transactions, including equity and debt transactions, in a timely manner.
3.	Add staff members to our management team to make sure that information required to be disclosed in our reports filed and submitted under the Exchange Act is recorded, processed, summarized and reported as and when required and the staff members will have segregated responsibilities with regard to these responsibilities.
4.	Plan to hire professional consultant to review and assist the company to design and implement proper information technology controls and policies on the company’s operations.

 

We anticipate that these initiatives will be at least partially, if not fully, implemented by the end of fiscal year 2023.

 

Changes in Internal Control Over Financial Reporting

 

There were no changes in our internal control over financial reporting during the quarter ending February 28, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

PART II — OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

There are no material pending legal proceedings as defined by Item 103 of Regulation S-K, to which we are a party or of which any of our property is the subject, other than ordinary routine litigation incidental to the Company’s business.

 

There are no proceedings in which any of the directors, officers or affiliates of the Company, or any registered or beneficial holder of more than 5% of the Company’s voting securities, is an adverse party or has a material interest adverse to that of the Company.

 

Item 1A. Risk Factors.

 

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

 

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

 

Other than set forth below, there were no sales of unregistered securities during the quarter ended February 28, 2023 that were not previously reported on a Current Report on Form 8-K.

 

From September 2022 to April 2023, the Company entered into securities purchase agreements with several accredited investors whereby the investors purchased a total of 6,000,000 shares of the Company’s common stock at an average price of $0.13 per share. The Company received aggregate gross proceeds of $800,000. Pursuant to the terms of the securities purchase agreements, the investors have piggyback registration rights with respect to the shares. From May to June 2023, the Company received aggregate gross proceeds of $201,540 from several accredited investors whereby the investors intended to purchase a total of 4,030,000 shares of the Company’s restricted common stock, at an average price of $0.05 per share. The offers and sales of securities were made outside of the United States and the issuances were exempt from registration pursuant to Rule 901 under Regulation S of the Securities Act of 1933.

 

6,000,000 shares were issued as of June 27, 2023.

 

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

None.

 

Item 6. Exhibits.

 

Exhibit No.		Description
3.1		Articles of Incorporation (incorporated by Reference to Exhibit 3.1 to the registration statement on Form S-1 of the Company, filed with the U.S. Securities and Exchange Commission on November 14, 2017).
3.2		Bylaws (incorporated by reference to Exhibit 3.2 to the registration statement on Form S-1 of the Company, filed with the U.S. Securities and Exchange Commission on November 14, 2017).
31.1*		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
32.1**		Certification of the Company’s Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*		Inline XBRL Instance Document.
101.SCH*		Inline XBRL Taxonomy Extension Schema Document.
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*		Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE*		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104*		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Filed herewith.

** Furnished herewith.

 

 

SIGNATURES

 

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

 

	LEADER CAPITAL HOLDINGS CORP
	(Name of Registrant)
Date: June 30, 2023
	By:	/s/ Yi-Hsiu Lin
		Yi-Hsiu Lin
		Chief Executive Officer, President, Treasurer and
		Director (Principal Executive Officer and Principal
		Financial Officer)

 

 

 

EXHIBIT 31.1

 

CERTIFICATION

 

I, YI-HSIU LIN, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of LEADER CAPITAL HOLDINGS CORP.;

 

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

 

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

 

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

 

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

 

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

 

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

 

Date: June 30, 2023	By:	/s/ Yi-Hsiu Lin
		Yi-Hsiu Lin
		Chief Executive Officer, President, Treasurer and Director
		(Principal Executive Officer, Principal Financial Officer

 

 

 

EXHIBIT 32.1

 

CERTIFICATION

 

In connection with the quarterly report of LEADER CAPITAL HOLDINGS CORP. (the “Company”) on Form 10-Q for the period ended February 28, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Yi-Hsiu Lin, Chief Executive Officer and President (Principal Executive Officer) and Treasurer (Principal Financial Officer) of the Company, hereby certify as of the date hereof, solely for purposes of Title 18, Chapter 63, Section 1350 of the United States Code, that to the best of my knowledge:

 

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

 

Date: June 30, 2023	By:	/s/ Yi-Hsiu Lin
		Yi-Hsiu Lin
		Chief Executive Officer, President, Treasurer and Director
		(Principal Executive Officer and Principal Financial Officer)

 

v3.23.2

Cover - shares	6 Months Ended
	Feb. 28, 2023	Jun. 27, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Feb. 28, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--08-31
Entity File Number	000-56159
Entity Registrant Name	LEADER CAPITAL HOLDINGS CORP.
Entity Central Index Key	0001715433
Entity Tax Identification Number	37-1853394
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Rm. 301, 3F., No. 131, Sec. 3
Entity Address, Address Line Two	Minsheng E. Rd
Entity Address, Address Line Three	Songshan Dist
Entity Address, City or Town	Taipei City
Entity Address, Country	TW
Entity Address, Postal Zip Code	105405
City Area Code	+886
Local Phone Number	2547-5643
Title of 12(b) Security	Common stock, $0.0001 par value
Trading Symbol	LCHD
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		206,470,825

v3.23.2

Condensed Consolidated Balance Sheets - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,942	$ 213,270
Accounts receivable	2,705	4,413
Prepayments, deposits and other receivables	93,228	176,201
Inventory	2,677	8,074
Due from a shareholder	$ 2,086
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Total current assets	$ 103,638	$ 401,958
Non-current assets
Non-marketable equity securities	1,500	1,500
Plant and equipment, net	45,949	71,004
Intangible assets	4,058	4,304
Operating lease right-of-use assets, net	97,959	227,230
Prepayments, deposits and other receivables	6,519	12,822
Total non-current assets	155,985	316,860
TOTAL ASSETS	259,623	718,818
Current liabilities
Accrued expenses and other payables	650,966	450,555
Contract liabilities	50,000	169,951
Operating lease liability, current	69,966	150,381
Bonds payable	600,000	600,000
Total current liabilities	2,885,918	2,650,503
Non-current liabilities
Operating lease liability, non-current	24,809	68,422
Other loans from shareholders, non-current	200,000	200,000
Total non-current liabilities	224,809	268,422
TOTAL LIABILITIES	3,110,727	2,918,925
COMMITMENTS AND CONTINGENCIES (Note 16)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value; 200,000,000 shares authorized; None issued and outstanding
Common stock, $0.0001 par value; 600,000,000 shares authorized; 200,470,825 and 191,770,825 shares issued and outstanding as of February 28, 2023 and August 31, 2022, respectively	20,047	19,177
Additional paid-in capital	33,080,537	32,339,182
Accumulated other comprehensive income	415,479	362,698
Accumulated deficits	(36,367,167)	(34,921,164)
TOTAL STOCKHOLDERS’ DEFICIT	(2,851,104)	(2,200,107)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	259,623	718,818
Related Party [Member]
Current liabilities
Other loans, current	300,256	260,709
Nonrelated Party [Member]
Current liabilities
Other loans, current	5,802
Officers or Stockholders [Member]
Current liabilities
Due to shareholders and director	49,140	45,343
Director [Member]
Current liabilities
Due to shareholders and director	$ 1,159,788	$ 973,564

v3.23.2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 28, 2023	Aug. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	200,470,825	191,770,825
Common stock, shares outstanding	200,470,825	191,770,825

v3.23.2

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)		3 Months Ended			6 Months Ended
		Feb. 28, 2023		Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Income Statement [Abstract]
REVENUE		$ 93,921		$ 7,631	$ 348,461	$ 22,436
OPERATING EXPENSES
Research and development expenses		(110,410)		(114,896)	(216,688)	(261,179)
Sales and marketing expenses		(3,163)		(33,764)	(16,946)	(247,536)
General and administrative expenses		(769,108)		(1,110,932)	(1,467,727)	(2,781,422)
LOSS FROM OPERATIONS		(788,760)		(1,251,961)	(1,352,900)	(3,267,701)
Interest expense		(30,937)		(22,196)	(61,601)	(50,696)
Loss on change in fair value of convertible notes				(1,076,830)		(1,181,330)
OTHER (EXPENSE) INCOME
Exchange difference, net		75,294		(30,974)	(49,915)	(6,054)
Other income – from non-related parties		17,473		80	18,413	531
Total other (expense) income		92,767		(30,894)	(31,502)	(5,523)
LOSS BEFORE INCOME TAX		(726,930)		(2,381,881)	(1,446,003)	(4,505,250)
Income tax benefit				4,482		8,964
NET LOSS		(726,930)		(2,377,399)	(1,446,003)	(4,496,286)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment		(79,592)		35,460	52,781	11,083
TOTAL COMPREHENSIVE LOSS		$ (806,522)		$ (2,341,939)	$ (1,393,222)	$ (4,485,203)
Net loss per share - Basic and diluted		$ (0.00)	[1],[2]	$ (0.02)	$ (0.01)	$ (0.03)
Weighted average number of shares of common stock outstanding – Basic and diluted	[3]	202,304,158		170,033,710	201,084,637	165,431,246
[1] Less than $0.01 [2] Less than $0.01 per share [3] Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022.

v3.23.2

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Aug. 31, 2021	$ 15,795	$ 23,470,641	$ (171,114)	$ (23,001,067)	$ 314,255
Beginning balance, shares at Aug. 31, 2021	157,949,219
Shares issued in private placement	$ 901	1,149,099			1,150,000
Shares issued in private placement, shares	9,010,000
Share compensation		1,060,813			1,060,813
Foreign currency translation adjustment			11,083		11,083
Net loss				(4,496,286)	(4,496,286)
Shares issued to service providers	$ 100	(100)
Shares issued to service providers, shares	1,000,000
Shares to be issued on conversion of convertible notes		1,632,000			1,632,000
Shares to be issued on conversion of convertible notes, shares	1,600,000
Ending balance, value at Feb. 28, 2022	$ 16,796	27,312,453	(160,031)	(27,497,353)	(328,135)
Ending balance, shares at Feb. 28, 2022	169,559,219
Beginning balance, value at Aug. 31, 2021	$ 15,795	23,470,641	(171,114)	(23,001,067)	314,255
Beginning balance, shares at Aug. 31, 2021	157,949,219
Ending balance, value at Aug. 31, 2022	$ 19,177	32,339,182	362,698	(34,921,164)	(2,200,107)
Ending balance, shares at Aug. 31, 2022	191,770,825
Beginning balance, value at Nov. 30, 2021	$ 16,211	24,970,454	(195,491)	(25,119,954)	(328,780)
Beginning balance, shares at Nov. 30, 2021	162,109,219
Shares issued in private placement	$ 485	484,515			485,000
Shares issued in private placement, shares	4,850,000
Share compensation		225,584			225,584
Foreign currency translation adjustment			35,460		35,460
Net loss				(2,377,399)	(2,377,399)
Shares issued to service providers	100	(100)
Shares to be issued on conversion of convertible notes		1,632,000			1,632,000
Shares to be issued on conversion of convertible notes, shares	1,600,000
Ending balance, value at Feb. 28, 2022	$ 16,796	27,312,453	(160,031)	(27,497,353)	(328,135)
Ending balance, shares at Feb. 28, 2022	169,559,219
Beginning balance, value at Aug. 31, 2022	$ 19,177	32,339,182	362,698	(34,921,164)	(2,200,107)
Beginning balance, shares at Aug. 31, 2022	191,770,825
Shares issued in private placement	$ 200	299,800			300,000
Shares issued in private placement, shares	2,000,000
Shares issued to employees and consultants for stock award	$ 670	(670)
Shares issued to employees and consultants for stock award, shares	6,700,000
Share compensation		442,225			442,225
Foreign currency translation adjustment			52,781		52,781
Net loss				(1,446,003)	(1,446,003)
Ending balance, value at Feb. 28, 2023	$ 20,047	33,080,537	415,479	(36,367,167)	(2,851,104)
Ending balance, shares at Feb. 28, 2023	200,470,825
Beginning balance, value at Nov. 30, 2022	$ 20,047	32,811,645	495,071	(35,640,237)	(2,313,474)
Beginning balance, shares at Nov. 30, 2022	200,470,825
Share compensation		268,892			268,892
Foreign currency translation adjustment			(79,592)		(79,592)
Net loss				(726,930)	(726,930)
Ending balance, value at Feb. 28, 2023	$ 20,047	$ 33,080,537	$ 415,479	$ (36,367,167)	$ (2,851,104)
Ending balance, shares at Feb. 28, 2023	200,470,825

v3.23.2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,446,003)	$ (4,496,286)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on change in fair value of convertible notes		1,181,330
Loss on disposal	3,464
Share based compensation	442,225	1,060,813
Amortization of operating lease right-of-use assets	123,170	169,682
Depreciation and amortization	22,362	66,080
Exchange difference, net	49,915	6,054
Changes in operating assets and liabilities:
Accounts receivable	1,647	(991)
Prepayments, deposits and other receivables	87,145	55,623
Inventory	5,263	(10,164)
Amount due to a director	52,661
Deferred tax liabilities		(8,964)
Operating lease liabilities	(118,028)	(169,682)
Contract liabilities	(106,533)	(13,271)
Accrued expenses and other payables	174,540	219,246
Net cash used in operating activities	(708,172)	(1,940,530)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of plant and equipment	(1,098)	(27,787)
Acquisition of intangible assets		(1,437)
Net cash used in investing activities	(1,098)	(29,224)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares issued in private placement	300,000	1,150,000
Loan from shareholders		158,000
Repayment to shareholders	(94,258)
Loan from a non-related party	5,742
Advance from shareholders	135,400	151,853
Advance to shareholders	(2,065)
Repayment to a director		(119,207)
Advance from a director	133,180
Net cash provided by financing activities	477,999	1,340,646
Effects of exchange rate changes on cash and cash equivalents	20,943	(475)
Net decrease in cash and cash equivalents	(210,328)	(629,583)
Cash and cash equivalents, beginning of period	213,270	787,154
CASH AND CASH EQUIVALENTS, END OF PERIOD	2,942	157,571
SUPPLEMENTAL CASH FLOWS INFORMATION
Cash paid for income taxes
Cash paid for interest	47,201	42,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Lease liabilities arising from obtaining right-of-use assets	$ 12,240

v3.23.2

ORGANIZATION AND BUSINESS BACKGROUND	6 Months Ended
	Feb. 28, 2023
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS BACKGROUND	1. ORGANIZATION AND BUSINESS BACKGROUND   Leader Capital Holdings Corp. (“LCHD” or the “Company”) was incorporated on March 22, 2017 under the laws of the State of Nevada.   The Company, through its subsidiaries, mainly operates and services a mobile application investment platform.  SCHEDULE OF SUBSIDIARIES OF COMPANY Company Name   Place/Date of Incorporation   Principal Activities           1. Leader Financial Group Limited (“LFGL”)   Seychelles / March 6, 2017   Investment Holding           2. JFB Internet Service Limited (“JFB”)   Hong Kong / July 6, 2017   Provides an Investment Platform   On August 17, 2020, LCHD, through JFB, acquired all of the issued and outstanding capital stock (the “Acquisition”) of Nice Products Inc. (“NPI”), pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of August 17, 2020, among the Company, JFB, NPI, the selling shareholders of NPI identified therein (each a “Seller,” and, collectively, the “Sellers”) and the representative of the Sellers identified therein. As a result of the Acquisition, the Company now owns indirectly 100% of NPI, LOC Weibo Co., Ltd. and Beijing DataComm Cloud Media Technology Co., Ltd.   The aggregate purchase price for the Acquisition was $4,850,000, less certain discounts, expenses and reductions for outstanding NPI debt owed to the Company and/or its affiliates, resulting in a net purchase price of $3,506,042, payable in 8,415,111 shares of the Company’s common stock to the Sellers in accordance with their respective pro rata percentage.   After the completion of the acquisition, NPI became an indirect wholly owned subsidiary of the Company.   NPI was incorporated in the British Virgin Islands on December 17, 2018.   NPI, through its subsidiaries, mainly engages in the development of ecological-systems applications, integration of big data and promotion of Over-the-Top (“OTT”) applications.   Company Name   Place/Date of Incorporation   Principal Activities           1. LOC Weibo Co., Ltd. (“LOC”)   Republic of China/September 29, 2017   Development of ecological-systems applications, integration of big data and promotion of OTT applications           2. Beijing DataComm Cloud Media Technology Co., Ltd. (“BJDC”)   People’s Republic of China /April 16, 2013   Development of ecological-systems applications, integration of big data and promotion of OTT applications   On March 15, 2023, the board of directors decided to dissolve LOC. LOC then entered into a de-registration process and its business was taken over by LCHD. Taichung City Government approved the dissolution on April 25, 2023.   LCHD and its subsidiaries (including NPI and its subsidiaries) are hereinafter referred to as the “Company”.

v3.23.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Feb. 28, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   Basis of Presentation   These unaudited condensed consolidated financial statements of the Company and its subsidiaries are unaudited. In the opinion of management, all adjustments (which are of a normal recurring nature) and disclosures necessary for a fair presentation of these unaudited condensed consolidated financial statements have been included. The results reported in the unaudited condensed consolidated financial statements for any interim periods are not necessarily indicative of the results that may be reported for the entire year. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”), and include the accounts of the Company and its subsidiaries. However, they do not include all information and footnotes necessary for a complete presentation of financial statements in conformity with U.S. GAAP. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Intercompany accounts and transactions have been eliminated in consolidation.   The Company has adopted August 31 as its fiscal year end. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s annual report on amended Form 10-K for the year ended August 31, 2022.   Going Concern    The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.   As of February 28, 2023, the Company has suffered recurring losses from operations, and records an accumulated deficit, a working capital deficit and a shareholders’ deficit of $36,367,167, $2,782,280 and $2,851,104, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due.   The Company expects to finance its operations primarily through cash flows from operations, loans from existing directors and shareholders and placements of capital stock for additional funding. In the event that the Company requires additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, a shareholder has indicated the intent and ability to provide additional financing. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.   In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. It has also disrupted the normal operations of many businesses, including the Company’s businesses. This outbreak could decrease spending, adversely affect demand for the Company’s services and harm its business and results of operations. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.   Affected by the COVID-19, the Company had to re-organize to improve its market competitiveness and to warrant the survival and future development. The Company also had downsized the operations to safeguard the financial position by reduction of labor costs, reduction of office space, and simplified operational procedures.   The Company’s reduction of labor costs were done through resignation and layoffs, whereas all layoffs were processed according to local governing labor laws.   These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and the classification of liabilities that might be necessary should the Company be unable to continue as going concern.     Use of Estimates   The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.   The COVID-19 pandemic has created and may continue to create significant uncertainty in macroeconomic conditions, which may cause further business slowdowns or shutdowns, depress demand for the Company’s business, and adversely impact its results of operations. The severity of the impact of the COVID-19 pandemic on the Company’s business will continue to depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the new variants of COVID-19, the efficacy and distribution of COVID-19 vaccines and the extent and severity of the impact on the global supply chain and the Company’s customers, service providers and suppliers, all of which are uncertain and cannot be reasonably predicted at this time. As of the date of issuance of the Company’s financial statements, the extent to which the COVID-19 pandemic may in the future materially impact the Company’s financial condition, liquidity or results of operations is uncertain. The Company is monitoring and assessing the evolving situation closely and evaluating its potential exposure. Its estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its consolidated financial statements.   Identified below are the accounting policies that reflect the Company’s most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its unaudited condensed consolidated financial statements.   Business combination   The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive income.   When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.   Goodwill and impairment of Goodwill   Goodwill represents the excess of the purchase price and related costs over the fair value of the net identified tangible and intangible assets and liabilities assumed and is not amortized (“Goodwill”). The total amount of Goodwill is deductible for tax purposes.   In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” Goodwill is not amortized but is tested for impairment, annually or more frequently when circumstances indicate a possible impairment may exist. Impairment testing is performed at a reporting unit level. An impairment loss generally would be recognized when the carrying amount of the reporting unit exceeds its fair value.     The Company estimates fair value of the applicable reporting unit or units using a discounted cash flow methodology. This methodology represents a level 3 fair value measurement as defined under ASC 820, Fair Value Measurements and Disclosures, since the inputs are not readily observable in the marketplace. The goodwill impairment testing process involves the use of significant assumptions, estimates and judgments, including projected sales, gross margins, selling, general and administrative expenses, and capital expenditures, and the selection of an appropriate discount rate, all of which are subject to inherent uncertainties and subjectivity. When the Company performs goodwill impairment testing, its assumptions are based on annual business plans and other forecasted results, which it believes represent those of a market participant. The Company selects a discount rate, which is used to reflect market-based estimates of the risks associated with the projected cash flows based on the best information available as of the date of the impairment assessment. Based on the annual impairment analysis, there is impairment of $1,747,945 and $1,226,419 on the goodwill recorded in the Company’s financial statements for the years ended August 31, 2022 and 2021, respectively.   Given the current macro-economic environment and the uncertainties regarding its potential impact on the Company’s business, there can be no assurance that its estimates and assumptions used in its impairment tests will prove to be accurate predictions of the future. If the Company’s assumptions regarding forecasted cash flows are not achieved, it is possible that an impairment review may be triggered and goodwill may be impaired. During the year ended August 31, 2022, the Company expects the reporting unit of FinTech App development not to generate profits in the near future. As a result, the goodwill was fully impaired as of August 31, 2022.   Cash and Cash Equivalents   Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.   Software Development Costs   The Company expenses software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and, as a result, development costs that meet the criteria for capitalization were not material for the periods presented.   The Company capitalizes development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended.   No development costs were expensed as general and administrative expenses for the six and three months ended February 28, 2023 and 2022.   Revenue Recognition   The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.     The Company recognizes revenue following the five-step model prescribed under ASU 2014-09:   Step 1: Identify the contract Step 2: Identify the performance obligations Step 3: Determine the transaction price Step 4: Allocate the transaction price Step 5: Recognize revenue   Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.   Provision of investment platform services   The Company signed an agreement with a third party whereby the Company authorized the third party to use the Company’s JFB platform and related applications for a period until December 31, 2020. Income from provision of investment platform services with the use of the Company’s mobile applications is recognized when the service is performed.   From September, 2020, the Company generated additional revenue from a new, more comprehensive mobile application, which refer to as the FinMaster mobile application (the “FinMaster App” and together with the JFB platform, the “Apps”), with similar functions as the JFB platform. Income from providing investment platform services with the use of a mobile application is recognized when the service is performed.   The Company offers a self-managed points program, which can be used in the FinMaster App to redeem merchandise or services.   The Company determines the value of each point based on estimated incremental cost. Customers and advocates have a variety of ways to obtain the points. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service. The major accounting policy for its points program is described as follows:   The Company concludes the bonus points offered linked to the purchase transaction of the points is a material right and accordingly a separate performance obligation according to ASC 606, and should be taken into consideration when allocating the transaction price of the point sales. The Company also estimates the probability of points redemption when performing the allocation. The amount allocated to the bonus points as separate performance obligation is recorded as contract liability (deferred revenue) and revenue should be recognized when future goods or services are transferred. The Company will continue to monitor when and if forfeiture rate data becomes available and will apply and update the estimated forfeiture rate at each reporting period.   Since historical information is limited for the Company to determine any potential points forfeitures and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.   Provision of software development service and maintenance service   The Company entered into several agreements with third party customers to assist the customers in the development of their mobile communications software and mobile e-commerce software. Income from provision of software development service and maintenance service are recognized when the service is performed.   Revenue by major product line  SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE     February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022   Provision of investment platform services   $ 17,397     $ 4,799     $ 8,249     $ 1,557   Provision of software development service and maintenance service     331,064       17,637       85,672       6,074   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631       Revenue by Recognition Over Time vs Point in Time  SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Revenue by recognition over time   $ 348,461     $ 22,436     $ 93,921     $ 7,631   Revenue by recognition at a point in time     -       -       -       -   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631     Remaining performance obligations represent contracted revenues that had not yet been recognized, and include deferred revenues; invoices that have been issued to customers but were uncollected and have not been recognized as revenues; and amounts that will be invoiced and recognized as revenues in future periods. As of February 28, 2023, the Company’s remaining performance obligations were $50,000, which it expects to recognize as revenues over the next twelve months and the remainder thereafter.   The Company had not occurred any costs to obtain contracts.   The Company does not have amounts of contract assets since revenue is recognized as control of goods or services is transferred. The contract liabilities consist of advance payments from customers. The contract liabilities are reported in a net position on a customer-by-customer basis at the end of each reporting period. All contract liabilities are expected to be recognized as revenue within one year and are included in other payables and accrued liabilities in the consolidated balance sheet.   Contract balances   The Company’s contract liabilities consist of receipts in advance for software development and FinMaster App. The Company withdrew from the investment platform service in February 2023 and the advance payment from FinMaster App would be refunded to customers upon requests received. The Company updated its assessment of amount of refunds and recognized the amounts received for which it did not expect to be entitled as a refund liability. Below is the summary presenting the movement of the Company’s contract liabilities for the six months ended February 28, 2023 and 2022:  SCHEDULE OF CONTRACT LIABILITIES Receipt in advance   2023     2022                 Balance as of September 1   $ 169,951     $ 16,225   Advances received from customers     211,734       2,677   Revenue recognized     (318,267 )     (15,948 ) Refund liability recognized     (13,019 )     -   Exchange difference     (399 )     (101 ) Balance as of February 28   $ 50,000     $ 2,853     Practical Expedients and Exemption   The Company has not incurred any costs to obtain contracts, and does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.   Research and development expenses   Research and development (“R&D”) expenses are primary comprised of charges for R&D and consulting work performed by third parties; salaries and benefits for those employees engaged in research, design and development activities; costs related to design tools; and allocated costs.   For the six months ended February 28, 2023 and 2022, the total R&D expenses were $216,688 and $261,179, respectively.   For the three months ended February 28, 2023 and 2022, the total R&D expenses were $110,410 and $114,896, respectively.     Sales and marketing expenses   Sales and marketing expenses consist primarily of marketing and promotional expenses, salaries and other compensation-related expenses to sales and marketing personnel. Advertising expenses consist primarily of costs for the promotion of corporate image and product marketing. The Company expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the six months ended February 28, 2023 and 2022, advertising costs totaled $18,423 and $240,049, respectively. For the three months ended February 28, 2023 and 2022, advertising costs totaled $4,613 and $29,446, respectively.   From September 2019, customers or users of the FinMaster App can obtain points through any other ways such as account registration referral to the FinMaster App, frequent sign-ins to the application and sharing articles from the application to users’ own social media, etc. The Company believes these points are to encourage user engagement and generate market awareness. As a result, the Company accounts for such points as sales and marketing expenses with a corresponding liability recorded under other current liabilities of its unaudited condensed consolidated balance sheets upon the points offering. The Company estimates liabilities under the customer loyalty program based on cost of the merchandise that can be redeemed, and its estimate of probability of redemption. At the time of redemption, the Company records a reduction of inventory and other current liabilities. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service.   Since historical information is limited for the Company to determine any potential points forfeiture and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.   For the six months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,477) and $7,487, respectively.   For the three months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,450) and $4,318, respectively.   As of February 28, 2023 and August 31, 2022, liabilities recorded related to unredeemed points were $80,338 and $82,638, respectively, which were included in other payables (note 9).    General and administrative expenses   General and administrative expenses consist primarily of salaries, bonuses and benefits for employees involved in general corporate functions, depreciation and amortization of fixed assets, legal and other professional services fees, rental and other general corporate related expenses.   Inventory   Inventories are stated at the lower of cost or net realizable value. Cost is calculated on an average basis and includes all costs to acquire and other costs to bring the inventories to their present location and condition. The Company records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Company also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.   Inventory as of February 28, 2023 and August 31, 2022 represents merchandise inventory which can be redeemed by deducting membership rewards points of customer loyalty program.     Leases   The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use (“ROU assets”) assets represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. The Company elected the package of practical expedients permitted under the transition guidance to combine the lease and non-lease components as a single lease component for operating leases associated with the Company’s office space lease, and to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of income on a straight-line basis over the lease term.   The operating lease is included in operating lease right-of-use assets, operating lease liabilities-current and operating lease liabilities-non-current on the Company’s consolidated balance sheets.   Plant and Equipment   Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:  SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES     Expected useful life   Furniture and fixture     3   Office equipment     3   Leasehold improvement     3     Intangible assets   The Company recorded intangible assets with definite lives, including investment platform and technical know-hows. Intangible assets are recorded at cost less accumulated amortization with no residual value. Amortization of intangible assets is computed using the straight-line method over their estimated useful lives.   The estimated useful lives of the Company’s intangible assets are listed below:  SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS Investment platform     5 years   Technical know-hows     8 years   Trademarks     10 years     Impairment of Long-Lived Assets (including amortizable intangible assets)   The Company reviews the carrying values of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If the assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No impairment has been recorded by the Company for the six and three months ended February 28, 2023 and 2022.     Employee benefits   The Taiwan subsidiary also operates a Defined Contribution Pension Plan under the Labor Pension Act (the Act) for employees in Taiwan. The Act stipulated that the contribution rate by the employer per month shall not be less than 6% of the employees’ monthly salary, and the Table of Monthly Contribution Salary Classification shall be prescribed by Central Competent Authority. The highest bracket of Monthly Contribution Salary issued by Central Competent Authority is $4,839 (NTD150,000). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $9,869 and $23,387 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $4,592 and $12,478 for the three months ended February 28, 2023 and 2022, respectively.   Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiary of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $58,050 and $62,771 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $30,145 and $31,559 for the three months ended February 28, 2023 and 2022, respectively.   The Hong Kong subsidiary operates a Mandatory Provident Fund (“MPF”) scheme for all qualifying employees in Hong Kong. The MPF is a defined contribution scheme and the assets of the scheme are managed by a trustee independent of the Group. The MPF is available to all employees aged 10 to 64 with a least 60 days of service under the employment of the Group in Hong Kong. Contributions are made by the Group to a cap of HK$1,500 (equivalent to $192 per month). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $5,115 and $5,124 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $3,524 and $4,083 for the three months ended February 28, 2023 and 2022, respectively.   Income taxes   Income taxes are determined in accordance with the provisions of Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.   ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. As of February 28, 2023, the Company has no accrued interest or penalties related to uncertain tax positions.   The Company conducts business in the PRC, Taiwan and Hong Kong and is subject to tax in these jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the respective tax authorities.   Net Loss Per Share   The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock equivalents had been issued and if the additional shares of common stock were dilutive. The following table presents a reconciliation of basic and diluted net loss per share:  SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022                             Net loss   $ (1,446,003 )   $ (4,496,286 )   $ (726,930 )   $ (2,377,399 ) Weighted average number of shares of common stock outstanding - Basic and diluted**     201,084,637       165,431,246       202,304,158       170,033,710   Net loss per share - Basic and diluted   $ (0.01 )   $ (0.03 )   $ (0.00 )*   $ (0.02 )     * Less than $0.01         ** Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022.     Stock-based compensation   Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718 (“ASC 718”), which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.   Additionally, ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, permits the election of an accounting policy for forfeitures of share-based payment awards, either to recognize forfeitures as they occur or estimate forfeitures over the vesting period of the award. The Company has elected to recognize forfeitures as they occur.   On September 1, 2019, the Company adopted ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting” (“ASU 2018-07”), which simplifies several aspects of the accounting for nonemployee share-based payment transactions by expanding the scope of the stock-based compensation guidance in ASC 718 to include share-based payment transactions for acquiring goods and services from non-employees. Before the adoption of this guidance, the equity-classified share-based awards held by non-employees were subject to re-measurement through each vesting date. Upon the adoption of this guidance, the Company no longer re-measures equity-classified share-based awards granted to consultants or non-employees at each reporting date through the vesting date and the accounting for these share-based awards to consultants or non-employees and employees was substantially aligned.   Cancellation of a share-based payment by the entity results in accelerated recognition of any unrecognised cost. Cancellation by the counterparty does not change recognition of the compensation cost. The termination of an employee that resulted in the forfeiture of share-based awards is not considered to be a cancellation of the awards.   Foreign Currencies Translation   Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.   The reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiary in Seychelles, the PRC, Taiwan and Hong Kong maintains its books and record in United States Dollars (“US$”), Renminbi (“RMB”), New Taiwanese Dollars (“NT$”) and United States Dollars (“US$”) respectively, which are the primary currencies of the economic environment in which the entities operate (the functional currencies).   In general, for consolidation purposes, the assets and liabilities of the Company’s subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from the translation of the financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of retained earnings.   Translation of amounts from foreign currencies into US$ has been made at the following exchange rates for the respective periods:  SCHEDULE OF FOREIGN CURRENCY TRANSLATION     As of February 28, 2023     As of August 31, 2022                 Period-end NT$ : US$ 1 exchange rate     30.68       30.38   Period-end RMB : US$ 1 exchange rate     6.95       6.89         February 28, 2023     February 28, 2022       For the six months ended,       February 28, 2023     February 28, 2022                 Period average NT$ : US$ 1 exchange rate     31.00       27.82   Period average RMB : US$ 1 exchange rate     7.00       6.42       Related Parties   Parties, which can be a corporation or an individual, are considered to be related if the Company has the ability to, directly or indirectly, control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.   Convertible instruments   The Company accounts for hybrid contracts that feature conversion options in accordance with U.S. GAAP. ASC 815 “Derivatives and Hedging Activities,” (“ASC 815”) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.   Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.   The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 “Debt with Conversion and Other Options” (“ASC 470-20”). Under ASC 470-20 the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815. Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.   Segment reporting   ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker organizes segments within the company for making operating decisions assessing performance and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.   Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280. The Company operates exclusively in one business and industry segment: the provision of investment platform services through mobile application.   Recent Accounting Pronouncements   Recently Adopted Accounting Standards   In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. Early adoption is permitted for all entities, including adoption in an interim period. If an entity elects to early adopt ASU 2021-04 in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. The Company adopted ASU 2021-04 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.     In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This update is effective for annual periods beginning after December 15, 2021, and early application is permitted. This guidance should be applied either prospectively to all transactions that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company adopted ASU 2021-10 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.   Recently issued accounting pronouncements not yet adopted   In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. ASU 2016-13 is to be adopted on a modified retrospective basis. As a smaller reporting company, ASU 2016-13 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. In March 2023, the FASB issued ASU 2023-02, Topic 326. The ASU eliminates the accounting guidance for trouble debt restructurings by creditors in Subtopic 310-40, and enhances the disclosure requirements for modifications of loans to borrowers experiencing financial difficulty. Additionally, the ASU requires disclosure of gross writeoffs of receivables by year of origination for receivables within the scope of Subtopic 326-20, Financial Instruments - Credit Losses - Measured at Amortized Cost. This ASU is effective for periods beginning after December 15, 2023. The Company is currently evaluating the impact that the adoption of ASU 2016-13 and ASU 2023-02 will have on its condensed consolidated financial statement presentations and disclosures.   In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 of the two-step Goodwill impairment test, under which a goodwill impairment loss was measured by comparing the implied fair value of a reporting unit’s Goodwill with the carrying amount of that Goodwill. ASU 2017-04 requires only a one-step quantitative impairment test, whereby a Goodwill impairment loss is measured as the excess of a reporting unit’s carrying amount over its fair value (not to exceed the total Goodwill allocated to that reporting unit). Adoption of the ASUs is on a modified retrospective basis. As a smaller reporting company, the standard will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. The Company does not expect the impact of this guidance to have a material impact on the Company’s condensed consolidated financial statements.   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 the recognition and measurement of contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers. This creates an exception to the general recognition and measurement principles in ASC 805. As a smaller reporting company, ASU 2021-08 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2023, with early adoption permitted. The amendments in this ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company does not anticipate that the adoption of this guidance will have a material impact on the condensed consolidated financial statements.   In March 2023, the FASB issued ASU 2023-01, Lease (Topic 842): Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with leases between entities under common control (hereinafter referred to as common control lease). ASU 2023-01 requires entities to amortize leasehold improvements associated with common control lease over the useful life to the common control group (regardless of the lease term) as long as the lessee controls the use of the underlying asset through a lease, and to account for any remaining leasehold improvements as a transfer between entities under common control through an adjustment to equity when the lessee no longer controls the underlying asset. This ASU will be effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been made available for issuance. An entity may apply ASU 2023-01 either prospectively or retrospectively. The Company is currently evaluating the impact that the adoption of ASU 2023-01 will have on our condensed consolidated financial statement presentations and disclosures.   The Company’s management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

v3.23.2

ACQUISITION OF SUBSIDIARIES	6 Months Ended
	Feb. 28, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITION OF SUBSIDIARIES	3. ACQUISITION OF SUBSIDIARIES   On August 17, 2020, the Company, through its wholly-owned subsidiary JFB, acquired all of the issued and outstanding capital stock (the “Acquisition”) of NPI, pursuant to the terms and conditions of that certain Stock Purchase Agreement, dated as of August 17, 2020, among the Company, JFB, NPI, the selling shareholders of NPI identified therein (each a “Seller,” and, collectively, the “Sellers”) and the representative of the Sellers identified therein.   The aggregate purchase price for the Acquisition was $4,850,000, less certain discounts, expenses and reductions for outstanding NPI debt owed to the Company and/or its affiliates, resulting in a net purchase price of $3,506,042, payable in 8,415,111 shares of the Company’s common stock to the Sellers in accordance with their respective pro rata percentage.   After the completion of the Acquisition, NPI became an indirect wholly owned subsidiary of the Company.   The Company completed the valuations necessary to assess the fair values of the tangible and intangible assets acquired and liabilities assumed, resulting from which the amount of Goodwill was determined and recognized as of the respective acquisition date. The following table summarizes the estimated aggregate fair values of the assets acquired and liabilities assumed as of the closing date, August 31, 2020.  SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED           Cash and cash equivalents   $ 185,117   Prepayments, deposits and other receivables     145,228   Due from a shareholder     34,048   Right-of-use operating lease assets     113,590   Plant and equipment, net     30,365   Intangible assets- Technical know-hows     818,200   Goodwill     2,974,364   Other payables and accrued liabilities     (383,087 ) Contract liabilities     (2,896 ) Due to shareholders     (99,730 ) Operating lease liability     (113,646 ) Tax payable     (31,871 ) Deferred tax liabilities     (163,640 ) Net purchase price   $ 3,506,042             Less: Outstanding NPI debt owed to the Company         Accounts receivable     989,854   Notes payable     (3,066,617 ) Aggregate fair values of the assets acquired and liabilities assumed   $ 1,429,279     The transaction resulted in a purchase price allocation of $2,974,364 to Goodwill, representing the financial, strategic and operational value of the transaction to the Company. Goodwill is attributed to the premium that the Company paid to obtain the value of the business of NPI and the synergies expected from the combined operations of NPI and the Company, the assembled workforce and their knowledge and experience in provision of products and projects utilizing NPI’s technical know-hows. The total amount of the Goodwill acquired is not deductible for tax purposes.   The Company performed goodwill impairment test at the reporting unit level on an annual basis and between annual tests when an event occurs or circumstances change indicating the asset might be impaired. Goodwill was fully impaired as of August 31, 2022. No impairment loss of Goodwill of the reporting unit of the Fintech App development was recognized for the six and three months ended February 28, 2023 and 2022.

v3.23.2

PLANT AND EQUIPMENT, NET	6 Months Ended
	Feb. 28, 2023
Property, Plant and Equipment [Abstract]
PLANT AND EQUIPMENT, NET	4. PLANT AND EQUIPMENT, NET   Plant and equipment as of February 28, 2023 and August 31, 2022 are summarized below:  SCHEDULE OF PLANT AND EQUIPMENT, NET     As of February 28, 2023     As of August 31, 2022   Furniture and fixtures   $ 30,340     $ 30,494   Office equipment     83,466       89,858   Leasehold improvement     82,631       82,969   Total     196,437       203,321   Less: Accumulated depreciation     (150,488 )     (132,317 ) Plant and Equipment, net   $ 45,949     $ 71,004     Depreciation expenses, classified as operating expenses, were $22,116 and $21,072 for the six months ended February 28, 2023 and 2022, respectively; and $11,040 and $11,217 for the three months ended February 28, 2023 and 2022, respectively.

v3.23.2

INTANGIBLE ASSETS, NET	6 Months Ended
	Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	5. INTANGIBLE ASSETS, NET   Intangible assets costs as of February 28, 2023 and August 31, 2022 are summarized below:  SCHEDULE OF INTANGIBLE ASSETS     As of February 28, 2023     As of August 31, 2022   Investment platform   $ 30,000     $ 30,000   Technical know-hows     818,200       818,200   Trademarks     4,920       4,920   Total     853,120       853,120   Less: Accumulated amortization     (199,281 )     (199,035 ) Impairment     (649,781 )     (649,781 ) Intangible assets, net   $ 4,058     $ 4,304     Amortization expense for intangible assets was $246 and $45,008 for the six months ended February 28, 2023 and 2022, respectively; and $123 and $22,509 for the three months ended February 28, 2023 and 2022, respectively.   During the course of the Company’s strategic review of its operations, the Company assessed the recoverability of the carrying value of the Company’s intangible assets. The impairment charge, if any, represented the excess of carrying amounts of the Company’s intangible assets over their fair value, using the expected future discounted cash flows. No impairment loss of intangible asset was recognized for the six and three months ended February 28, 2023 and 2022.   As of February 28, 2023, amortization expenses related to intangible assets for future periods are estimated to be as follows:  SCHEDULE OF AMORTIZATION EXPENSES RELATED TO INTANGIBLE ASSETS           2023 (remaining period)   $ 246   2024     492   2025     492   2026     492   2027     492   2028 and thereafter     1,844   Total   $ 4,058

v3.23.2

NON-MARKETABLE EQUITY SECURITIES	6 Months Ended
	Feb. 28, 2023
Non-marketable Equity Securities
NON-MARKETABLE EQUITY SECURITIES	6. NON-MARKETABLE EQUITY SECURITIES   On August 5, 2022, the Company obtained an aggregate of 15,000,000 shares of common stock, par value $0.0001 per share of DFP Holdings Limited (“DFP”), a Nevada corporation, as return of software development service rendered (note 7), pursuant to the Software Development Agreement and Supplementary Agreement dated January 27, 2022 and June 28, 2022, respectively among DFP and LCHD.   DFP engages in online higher education services. It is committed to promoting Asian talent education services, and cooperating with practical entrepreneurs on both sides of the strait to offer courses related to business management and business marketing, assisting Taiwan’s small and medium-sized corporations, entrepreneurs, and middle and high-level managers open up new ideas and improve their business vision. As of February 28, 2023 and August 31, 2022, the Company held 7.01% and 7.06%, respectively of DFP’s outstanding common stock.

v3.23.2

RELATED PARTY TRANSACTIONS AND BALANCES	6 Months Ended
	Feb. 28, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	7. RELATED PARTY TRANSACTIONS AND BALANCES  SCHEDULE OF RELATED PARTY RELATIONSHIP Name of Entity or Individual   Relationship with the Company DFP Holdings Limited (“DFP”)   Note a Reblood Biotech Corp.   Note b Reblood Biotech Limited   Note b Asia Pacific Integrating System Limited   Note c Yi-Hsiu Lin   Shareholder and director of the Company Jui-Chin Chen   Shareholder of the Company Teh-Ling Chen   Shareholder of the Company CPN Investment Limited   Shareholder of the Company Kuo-Hsun Hsu   Shareholder of the Company Chun-Shuo Huang   Shareholder of the Company Yu-Cheng Tu   Shareholder of the Company Chin-Chiang Wang   Shareholder of the Company Ching-Nan Wang   Shareholder of the Company Chin-Ping Wang   Shareholder of the Company Shih-Chu Lo   Shareholder of the Company   (a) As of February 28, 2023, the Company and Yi-Hsiu Lin held 7.01% and 7.01% of DFP’s outstanding common stock. DFP was also the shareholder of the Company.     (b) Reblood Biotech Corp., a Nevada company, in which Yi-Hsiu Lin was the shareholder. Reblood Biotech Limited, a Hong Kong company, which was a subsidiary of Reblood Biotech Corp.     (c) Asia Pacific Integrating System Limited, a Taiwanese company, wholly owned by Shih-Chu Lo, a shareholder of the Company, holding 100% equity interests as of February 28, 2023.   Related party transactions:   The Company entered into the following significant related party transactions:  SCHEDULE OF RELATED PARTY TRANSACTIONS     For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022                             Provision of software development service to DFP (a)   $ 300,000     $ -     $ 70,000     $ -   Provision of software maintenance service to DFP (a)     31,065       -       15,673       -                                     Rental expense to Yu-Cheng Tu (b)     -       3,239       -       4   Rental expense to Reblood Biotech Limited (d)     18,302       17,745       9,545       8,889                                     Interest expense to:                                 Teh-Ling Chen (Note 13)     -       6,000       -       3,000   CPN Investment Limited (c)     -       -       -       -   Chun-Shuo Huang (Note 10(a))     17,143       -       8,726       -   Ching-Nan Wang (Note 12)     36,000       30,000       18,000       15,000   Jui-Chin Chen (Note 10(b) and 13)     2,400       3,000       1,200       1,500   Chin-Chiang Wang (Note 10(c) and 13)     6,000       6,000       3,000       3,000   Chin-Ping Wang (Note 13)     -       2,835       -       (165 ) Ching-Nan Wang (Note 13)     -       2,835       -       (165 )   (a) The Company entered into a Customized App Development Agreement providing the online and offline learning opportunities across different subjects on January 27, 2022 with DFP. The Company delivered an app and provided the follow-up maintenance service since August 2022. For the six and three months ended February 28, 2023, software maintenance income of $31,065 and $15,673, respectively was generated from this customer. Both parties entered another software development agreement on March 31, 2022 and the Company delivered the app on January 16, 2023. For the six and three months ended February 28, 2023, revenue of $300,000 and $70,000, respectively was generated.     (b) On September 1, 2020, LOC leased an office in Taichung, Taiwan from the Company’s shareholder- Yu-Cheng Tu. The lease was renewed on April 1, 2021 for additional one-year term and early terminated on October 31, 2021. The monthly lease was for the amount of NTD 45,000 ($1,617), with a term of one year. During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $3,239, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $4, respectively that are included in general and administrative expenses.     (c) The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. Interest of $nil was incurred for the six and three months ended February 28, 2023.     (d) On June 1, 2021, JFB leased an office in Taipei, Taiwan from a company which was the subsidiary of Reblood Biotech Corp.. The monthly lease was for the amount of NTD 82,062 ($2,647), with a term of 16 months. On October 1, 2022, the lease was renewed for additional one year. The monthly rental was NTD 97,062 ($3,131). During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $18,302 and $17,745, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $9,545 and $8,889, respectively that are included in general and administrative expenses.     (e) NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022.   Related party balances:   Apart from the above, the Company recorded the following significant related party balances as of February 28, 2023 and August 31, 2022:  SCHEDULE OF RELATED PARTY BALANCES     As of February 28, 2023     As of August 31, 2022   Accounts receivable from related parties                                   Receivables from DFP   $ 2,705     $ 2,732     Up to the date of this report, DFP had repaid $nil to the Company.       As of February 28, 2023     As of August 31, 2022   Contract liabilities due to related parties                                   due to DFP   $ -     $ 150,000   due to Asia Pacific Integrating System Limited   $ 50,000     $ -   Contract liabilities due to related parties   $ 50,000     $ -       Up to the date of this report, $nil of the above contract liabilities had been utilized.       As of February 28, 2023     As of August 31, 2022   Accrued interests payable to related parties                                   Ching-Nan Wang (note 12)   $ 20,935     $ 2,935   Chun-Shuo Huang (note 10 (a))     2,851       2,851   Jui-Chin Chen (note 10(b))     5,629       3,229   Chin-Chiang Wang (note 10(c))     3,165       9,165   Accrued interests payable to related parties   $ 32,580     $ 18,180

v3.23.2

PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES	6 Months Ended
	Feb. 28, 2023
Prepayments Deposits And Other Receivables
PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES	8. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES  SCHEDULE OF PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES     As of February 28, 2023     As of August 31, 2022                 Rental and management fee deposits   $ 50,952     $ 100,498   Other prepaid expenses     46,663       52,723   Other taxes recoverable     2,132       35,802   Prepayments, deposits and other receivables     99,747       189,023   Less: non-current portion                 Rental and management fee deposits     6,519       12,822   Prepayments, deposits and other receivables, non-current     6,519       12,822   Prepayments, deposits and other receivables, current   $ 93,228     $ 176,201

v3.23.2

ACCRUED EXPENSES AND OTHER PAYABLES	6 Months Ended
	Feb. 28, 2023
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER PAYABLES	9. ACCRUED EXPENSES AND OTHER PAYABLES  SCHEDULE OF ACCRUED EXPENSES AND OTHER PAYABLES     As of February 28, 2023     As of August 31, 2022   Accrued interests (Note 7, 10 and 12)   $ 32,580       18,180   Accrued payroll     244,805       150,932   Other accrued expenses     279,627       197,428   Other taxes payable     462       1,377   Refund liabilities     13,154       -   Point liabilities     80,338       82,638   Accrued expenses and other payables   $ 650,966       450,555

v3.23.2

DUE FROM (TO) SHAREHOLDERS AND DIRECTORS	6 Months Ended
	Feb. 28, 2023
Due From To Shareholders And Directors
DUE FROM (TO) SHAREHOLDERS AND DIRECTORS	10. DUE FROM (TO) SHAREHOLDERS AND DIRECTORS  SCHEDULE OF DUE FROM (TO) SHAREHOLDERS AND DIRECTORS      As of  February 28, 2023     As of August 31, 2022   Other loans from shareholders:                 Jui-Chin Chen (b)   $ (80,000 )   $ (80,000 ) Chun-Shuo Huang (a)     (144,248 )     (145,159 ) Mei-Ying Huang (d)     (2,608 )     (35,550 ) Chin-Chiang Wang (c)     (200,000 )     (200,000 ) CPN Investment Limited (g)     (73,400 )     -   Total (Note 11)     (500,256 )     (460,709 ) Less: Other loans from shareholders, non-current     200,000       200,000       $ (300,256 )   $ (260,709 )                   Due to a director - current:                 Yi-Hsiu Lin (e)   $ (1,159,788 )   $ (973,564 )                   Due to shareholders - current:                 Yu-Cheng Tu (e)   $ (41,377 )   $ (42,472 ) Hung-Pin Cheng (e)     (5,363 )     (471 ) Mei-Ying Huang (e)     (800 )     (800 ) Shih-Chu Lo (e)     (800 )     (800 ) Jun-Yuan Chen (e)     (800 )     (800 ) Total   $ (49,140 )   $ (45,343 )                   Due from a shareholder - current:                 Kuo-Hsun Hsu (f)   $ 2,086     $ -     (a) On February 28, 2022, the Company obtained a loan of RMB1,000,000 ($144,248) from Chun-Shuo Huang, which accrues interest at the rate of 8% per annum. The loan was due on May 27, 2022 and further extended to December 31, 2022 and accrued interest at the rate of 2% per month. The repayment was extended to June 30, 2023 as agreed by both parties. Interest of $17,143 and $nil respectively was incurred for the six months ended February 28, 2023 and 2022. Interest of $8,726 and $nil respectively was incurred for the three months ended February 28, 2023 and 2022. Interest of $2,851 was accrued as of February 28, 2023 and August 31, 2022.     (b) The loan was modified from convertible note on March 23, 2022 and would be repayable in five installments before February 28, 2023 with 6% interest-bearing per annum. $20,000 was repaid by the Company as of February 28, 2023. On November 29, 2022, both parties entered into an amendment agreement to extend the payment time of the remaining loans and interests by November 30, 2023. For the six months ended February 28, 2023, interest of $2,400 and $3,000 were incurred respectively. For the three months ended February 28, 2023, interest of $1,200 and $1,500 were incurred respectively. Interest of $5,629 and $3,229 was accrued as of February 28, 2023 and August 31, 2022, respectively.     (c) The loan was modified from convertible note on May 3, 2022 and would mature on November 25, 2024 with 6% interest-bearing per annum. For the six months ended February 28, 2023 and 2022, interest of $6,000 were incurred. For the three months ended February 28, 2023 and 2022, interest of $3,000 were incurred. Interest of $3,165 and $9,165 was accrued as of February 28, 2023 and August 31, 2022, respectively.     (d) The Company borrowed non-interest bearing loans in the aggregate amount of NTD4,000,000 ($130,378) from Huang Mei-Ying. The loan of NTD2,500,000 ($81,486) borrowed on November 24, 2021 was due on May 24, 2022 but further extended to December 31, 2022. The loan was fully repaid on October 25, 2022. The loan of NTD1,000,000 ($32,594) borrowed on January 12, 2022 was fully repaid on July 22, 2022. NTD420,000 ($13,690) was repaid for the remaining loan of NTD500,000 ($16,297) obtained on February 9, 2022 which would be repayable based on the Company’s financial ability.     (e) Amounts due to shareholders and a director are unsecured, interest-free with no fixed payment term.     (f) NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022. The advance is non-interest bearing and would repayable on demand.     (g) The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. No interest was accrued as of February 28, 2023.

v3.23.2

OTHER LOANS	6 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
OTHER LOANS	11. OTHER LOANS SCHEDULE OF OTHER LOANS      As of February 28, 2023     As of August 31, 2022   Other loans:                 - from shareholders (note 10)   $ 500,256     $ 460,709   - from a non-related party     5,802       -         506,058       460,709   Less: Other loan, non-current:     (200,000 )     (200,000 )     $ 506,058     $ 260,709     On September 15, 2022, the Company borrowed non-interest bearing loan of NTD30,000 ($978) from a non-related company which was owned by an employee of the Company. The loan would be repayable on September 15, 2023. Further non-interest loan of NTD148,000 ($4,824) was borrowed in January 2023 and would be repayable in one year.

v3.23.2

BONDS PAYABLE	6 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
BONDS PAYABLE	12. BONDS PAYABLE   The Company entered into a Bond Purchase Agreement with Ching-Nan Wang (who became the Company’s shareholder in May 2021) on August 14, 2019, pursuant to which the Company issued and sold to the purchaser a bond at an aggregate purchase price of $600,000. The bond will mature three years from August 14, 2019. Interest on the bond accrues at rate of 10% per annum and is payable on semi-yearly basis. The Company may exercise its right to repay this bond at any time on or before two years from the maturity date by wiring 100% of all outstanding principal and interest to the purchaser. On August 10, 2022, the bond was further extended to August 14, 2023 and 12% p.a. interest was payable quarterly. The bond was collateralized by 2,000,000 shares of DFP Holdings Limited and 1,000,000 shares of Reblood Biotech Corp. held by Yi-Hsiu Lin. Interest of $36,000 and $30,000 was incurred in six months ended February 28, 2023 and 2022, respectively. Interest of $18,000 and $15,000 was incurred in three months ended February 28, 2023 and 2022, respectively. Interest of $20,935 and $2,935 was accrued as of February 28, 2023 and August 31, 2022, respectively.

v3.23.2

CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES	6 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES	13. CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES   The Company entered into a series of Convertible Promissory Note Purchase Agreements (the “Agreements”) with certain investors between March 2020 and January, 2021. Pursuant to the Agreements, the Company issued certain Convertible Promissory Notes (the “Notes”) to the investors in a total principal amount of $900,000. A summary of the major terms of the Agreements are presented as follows: SCHEDULE OF CONVERTIBLE NOTES PAYABLE      Principal amount     Issue date   Maturity date   Interest rate   Jui-Chin Chen (a)     100,000     March 18, 2020   March 18, 2022     6 % Teh-Ling Chen (b)     100,000     November 2, 2020   November 2, 2022     6 % Chin-Ping Wang (c)     200,000     November 25, 2020   November 25, 2022     6 % Chin-Nan Wang (d)     200,000     November 25, 2020   November 25, 2022     6 % Chin-Chiang Wang (d)     200,000     November 25, 2020   November 25, 2022     6 % Teh-Ling Chen (e)     100,000     January 15, 2021   January 15, 2023     6 %     $ 900,000                     (a) On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen.     (b) On November 2, 2020, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on November 2, 2022 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.      (c) On November 25, 2020, the Company issued a Note in the principal amount of $200,000, which accrues interest at the rate of 6% per annum, to a shareholder – Chin-Chiang Wang. The Note is due on November 25, 2022 and unsecured. On May 3, 2022, the Company entered into an amendment to the Note and the convertible promissory note purchase agreement with Chin-Chiang Wang, mutually agreed to extend the maturity date to November 25, 2024 and cancel the conversion option. The balance was classified as non-current 6% loan on the same date (Note 10(c)).     (d) On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.     (e) On January 15, 2021, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on January 15, 2023 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.   For each of the Notes, the Company is entitled to a one-year extension. The outstanding principal amounts of the notes are convertible at any time at the option of the holders into common stock at a conversion price of $0.40 per share. Each of the noteholders may convert part of the principal outstanding in increments of $10,000 or multiples of $10,000 at any time. Accrued interest, if any, will be forfeited on any principal amount being converted.   The conversion feature is dual indexed to the Company’s stock, and is considered an embedded derivative which needs to be bifurcated from the host instrument in accordance with ASC 815.   ASC 815-15-25 provides that if an entity has a hybrid financial instrument that would require bifurcation of embedded derivatives under ASC 815, the entity may irrevocably elect to initially and subsequently measure a hybrid financial instrument in its entirety at fair value with changes in fair value recognized in earnings. The fair value election can be made instrument by instrument and shall be supported by concurrent documentation or a preexisting documented policy for automatic election.   The Company elected to measure the Notes in their entirety at fair value with changes in fair value recognized as non-operating income or loss at each balance sheet date in accordance with ASC 815-15-25.   During the six months ended February 28, 2023 and 2022, interest of $nil and $20,670 were incurred on the Notes, respectively.   During the three months ended February 28, 2023 and 2022, interest of $nil and $7,170 were incurred on the Notes, respectively.

v3.23.2

INCOME TAXES	6 Months Ended
	Feb. 28, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	14. INCOME TAXES   For the period ended February 28, 2023 and 2022, the local (United States) and foreign components of loss before income tax were comprised of the following:   SCHEDULE OF INCOME/(LOSS) BEFORE INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Tax jurisdictions from:                                 - Local   $ (457,623 )   $ (2,375,752 )   $ (349,474 )   $ (1,450,149 ) - Foreign, representing                                 Seychelles     -       -       -       -   British Virgin Islands     (1,399 )     (1,855 )     (255 )     (298 ) Taiwan     (437,102 )     (1,251,440 )     (134,125 )     (567,529 ) PRC     (337,557 )     (254,628 )     (131,628 )     (135,191 ) Hong Kong     (208,857 )     (621,575 )     (107,983 )     (228,714 ) Tax jurisdictions from foreign     (208,857 )     (621,575 )     (107,983 )     (228,714 ) Loss before income tax     (1,446,003 )     (4,505,250 )     (726,930 )     (2,381,881 )     The components of the benefit for income taxes expenses are:   SCHEDULE OF COMPONENTS OF PROVISION BENEFIT FOR INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Current   $          -     $ -     $ -     $ -   Deferred     -       (8,964 )     -       (4,482 ) Total income tax benefit   $ -     $ (8,964 )   $ -     $ (4,482 )   The benefit for income taxes consisted of the following:   SCHEDULE OF PROVISION FOR INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Loss before income taxes   $ (1,446,003 )     (4,505,250 )     (726,930 )   $ (2,381,881 ) Statutory income tax rate     21 %     21 %     21 %     21 % Income tax credit computed at statutory income rate     (302,933 )     (946,103 )     (151,928 )     (400,195 ) Reconciling items:                                 Non-deductible expenses     53,183       311,315       5,280       256,929   Share-based payments     92,867       222,771       56,467       47,373   Tax effect of tax exempt entity     294       390       54       63   Rate differential in different tax jurisdictions     (9,006 )     15,988       (5,678 )     7,410   Valuation allowance on deferred tax assets     165,595       386,675       95,805       183,938   Income tax benefit   $ -     $ (8,964 )   $ -     $ (4,482 )   United States of America   The Company is registered in the State of Nevada and is subject to the tax laws of the United States of America. As of February 28, 2023, the operations in the United States of America incurred $2,399,038 of cumulative net operating losses (NOL’s) which can be carried forward to offset future taxable income. The NOL carryforwards begin to expire in 2037, if unutilized. As of February 28, 2023, the Company has provided for a full valuation allowance of $503,798 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.   Seychelles   Under the current laws of the Seychelles, LFGL is registered as an international business company, as such, LFGL is governed by the International Business Companies Act of Seychelles and not subject to income taxes in Seychelles.   British Virgin Islands   NPI is tax exempted in the British Virgin Islands where it was incorporated.   Taiwan   LOC is subject to corporate income tax (“CIT”) in Taiwan. Since January 1, 2018, the CIT rate in Taiwan is 20%. As of February 28, 2023, LOC had net operating loss carry-forwards in Taiwan of $3,883,706, which will expire in various years through 2027. The Company has provided for a full valuation allowance of $697,724 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.     PRC   BJDC is subject to corporate income tax (“CIT”) at 25% in accordance with the relevant tax laws and regulations of the PRC. As of February 28, 2023, BJDC had net operating loss carry-forwards in the PRC of $2,790,898, which will expire in various years through 2029. The Company has provided for a full valuation allowance of $697,724 against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.   Hong Kong   JFB is subject to Hong Kong Profits Tax, which is charged at the statutory income rate of 16.5% on its assessable income. No provision for Hong Kong profits tax has been made in the financial statements as JFB has no assessable profits for the period. As of February 28, 2023, the operations in Hong Kong incurred $nil of cumulative net operating losses (NOL’s) which can be carried forward indefinitely to offset future taxable income. As of February 28, 2023, the Company has provided for a full valuation allowance of approximately $nil against the deferred tax assets on the expected future tax benefits from the net operating loss carryforwards as the management believes it is more likely than not that these assets will not be realized in the future.   SCHEDULE OF DEFERRED TAX ASSETS     February 28, 2023     August 31, 2022   Deferred tax assets:                 Net operating loss carryforwards                 – United States of America   $ (503,798 )   $ (500,564 ) – Taiwan     (776,741 )     (699,772 ) – PRC     (697,724 )     (600,648 ) – Hong Kong     -       -   Deferred tax assets: net operating loss carryforwards     -        -    Less: valuation allowance     1,978,263       1,800,984   Deferred tax assets, net of valuation allowance   $ -     $ -

v3.23.2

COMMON STOCK	6 Months Ended
	Feb. 28, 2023
Equity [Abstract]
COMMON STOCK	15. COMMON STOCK   On September 1, 2021, the Company renewed the employment agreement with Yi-Hsiu Lin for additional two years. Pursuant to the agreement, Mr. Lin will be compensated at an annual rate of $120,000 per year (the “Base Compensation”), prorated for any partial year, payable in cash or with 2,500,000 shares of restricted common stock, which would vest as of March 1, 2022 and March 1, 2023. In addition, Mr. Lin may be entitled to bonus compensation of up to three times the Base Compensation based on his achievement of appropriate performance criteria to be determined by the board of directors or a committee thereof. The bonus compensation offer was cancelled on March 1, 2022. The fair value of the shares of restricted common stock for each of the years ending August 31, 2023 and 2022 was $250,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $125,000 as remuneration. During the three months ended February 28, 2023 and 2022, the Company amortized $62,500 as remuneration.   On September 1, 2021, the Company issued a director offer letter to Shui Fung Cheng, pursuant to which Mr. Cheng agreed to serve as a director of the Company for a one-year term. For his service as a director, Mr. Cheng would receive an annual compensation, prorated for any partial year, in the form of $80,000 in cash or 1,500,000 shares of restricted common stock. The offer letter provided that compensation, either in cash or shares of restricted common stock, would be paid or granted immediately on September 1, 2021. On September 1, 2022, the Company re-issued a director offer letter to Shui Fung Cheng with the same compensation for further one year. The fair value of the shares of restricted common stock granted on September 1, 2021 and 2022 was $150,000 each, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $75,000 as remuneration. During the three months ended February 28, 2023 and 2022, the Company amortized $37,500 as remuneration.     On March 1, 2021, the Company renewed the consulting agreement with a consultant to provide business advisory services to the Company for a one-year term. Pursuant to the agreement, the Company agreed to pay the consultant a fee of $60,000 and 1,000,000 shares of restricted common stock, which vested not later than June 30, 2021, prorated for any partial year. The fair value of the shares of restricted common stock was $100,000 which was calculated based on a price per share of $0.10 and amortized over the service term. During the six and three months ended February 28, 2022, the Company amortized $50,000 and $25,000 respectively as consulting expenses under this agreement. The shares were granted and issued on December 16, 2021.   On June 30, 2020, the Company’s board of directors agreed to grant a new employee of JFB, (i) 5,000,000 shares of restricted common stock in connection with such employee’s employment (the “Inducement Shares”) and (ii) 5,000,000 shares of restricted common stock upon the achievement of each of two milestones set forth in such employee’s offer letter relating to the FinMaster mobile application. The fair value of the shares of restricted common stock to be issued to him was $6,000,000, which was calculated based on a price per share of $0.40. As of August 31, 2022, apart from the 5,000,000 Inducement Shares, 5,000,000 shares were vested to the employee upon achievement of the first milestone set forth in the employee’ offer letters, the Company amortized $139,560, $1,622,940 and $237,500, respectively as salaries under this milestone for the years ended August 2022, 2021 and 2020. However, during the year ended August 31, 2022, the company reassessed the likelihood that the employee will achieve for the second milestone and determined that the employees will not achieve the targets of the second milestone, the Company recognized a reverse to salary $348,627 under this milestone. During the six and three months ended February 28, 2022, the Company amortized $242,481 and $33,084, respectively, as salaries. As of February 28, 2022, 10,000,000 shares were issued.   The Company issued 8,415,111 shares of common stock for the acquisition of NPI in August 2020 (Note 1).   On August 1, 2020, the Company entered into a one-year consulting services agreement with a company. Pursuant to the agreement, the Company agreed to pay the provider an annual compensation of $66,000, prorated for any partial year. In addition, for the services rendered by the provider’s employees, the provider was granted 1,000,000 shares of restricted common stock, vested on September 15, 2020. The fair value of 1,000,000 shares granted was $400,000, which was calculated based on the stock price of $0.40 per share and will be amortized over the service term. During the six and three months ended February 28, 2022, the Company recognized $16,666 and $nil respectively as compensation under these arrangements. The shares were issued on January 6, 2021.   On November 1, 2020, the Company entered into one-year consulting agreements with two consultants to assist in monitoring and improving FinMaster APP. Pursuant to the agreement, the Company agreed to pay the consultants 2,500,000 shares of restricted common stock, which vested on November 1, 2020, prorated for any partial year. The fair value of the shares of restricted common stock was $2,500,000, which was calculated based on a price per share of $1.00 and amortized over the service term. During the six and three months ended February 28, 2022, the Company amortized $416,666 and $nil respectively as consulting expenses under these agreements. The shares were issued on December 22, 2020.   On February 8, 2021, the Company and First Leader Capital Ltd. mutually agreed to further forfeit and surrender 5,000,000 shares (the “Surrendered Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Surrendered Shares were automatically cancelled and retired. First Leader Capital Ltd. agreed to forfeit and cancel the Surrendered Shares in exchange for reducing the Company’s outstanding Common Stock to be more in line with what management deems to be market expectations based on the Company’s current valuation.     On May 17, 2021, the Company and First Leader Capital Ltd., again, mutually agreed to forfeit and surrender 13,132,500 shares (the “Surrendered Shares”) of the Company’s common stock, par value $0.0001 per share (the “Common Stock”). The Surrendered Shares were automatically cancelled and retired. First Leader Capital Ltd. agreed to forfeit and cancel the Surrendered Shares in exchange for reducing the Company’s outstanding Common Stock to be more in line with what management deems to be market expectations based on the Company’s current valuation.   On September 1, 2021, the Company issued an offer letter to Hsu Kuo-Hsun, pursuant to which Mr. Hsu agreed to serve as chairman of LOC for two years. Per the terms of the offer letter, Mr. Hsu will receive a monthly remuneration of NT$60,000 (equivalent to $1,902) in cash and 2,400,000 shares of restricted common stock, which shall be granted in two equal tranches and vested on March 1, 2022 and March 1, 2023. The fair value of the shares of restricted common stock for the each of years ending August 31, 2023 and 2022 was $120,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $60,000 each as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $30,000 each as consulting expenses under this agreement. 1,200,000 shares were issued on October 5, 2022.   On September 1, 2021, the Company issued a Senior Vice President (“SVP”) offer letter to Chiao Chien, pursuant to which Mr. Chiao agreed to serve as SVP of user experience of the Company for two years. For his services, Mr. Chiao will receive a monthly remuneration of RMB 17,000 (equivalent to $2,385) in cash and 3,000,000 shares of restricted common stock, which shall be granted in two equal tranches and vested on March 1, 2022 and March 1, 2023. The fair value of the shares of restricted common stock for the each of years ending August 31, 2023 and 2022 was $150,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $75,000 each as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $37,500 each as consulting expenses under this agreement. 1,500,000 shares were issued on October 5, 2022.   On December 21, 2021, pursuant to the 2021 Equity Incentive Plan, the Company granted an aggregate of 9,550,850 non-restricted share units of the Company’s common stock to certain employees and consultants of the Company. In accordance with the vesting schedule of the grant, the restricted shares will vest immediately. The fair price of the non-restricted shares was $0.10 per share. The Company recognized the share-based compensation expenses over the vesting period on a graded-vesting method. The Company recorded non-cash share-based compensation of $nil for the six and three months ended February 28, 2022, in respect of the non-restricted shares granted. The shares were issued on March 2, 2022. As of February 28, 2023, neither unrecognized stock-based compensation was associated with the above share units nor vested shares were to be issued.   On January 26, 2022, the shareholders- Chin-Ping Wang and Ching-Nan Wang, submitted conversion notices to the Company converting all of the outstanding balances of their Convertible Notes payable (Note 13) into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.   On May 12, 2022, the shareholder- Teh-Ling Chen submitted conversion notice to the Company converting all of the outstanding balance of his Convertible Notes payable (Note 13) into an aggregate of 2,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.   On June 17, 2022, 500,576 shares of the Company were issued to shareholder- Teh-Ling Chen for the repayment of loan balance and accrued interest.   On October 1, 2022, the Company entered into consultant agreement with Shou-Hung Hsu for two years. Pursuant to the agreement, Mr. Hsu was compensated at $25,000 per year, prorated for any partial year, payable in cash or with 700,000 shares of restricted common stock, which would vest as of December 31, 2022 and September 30, 2023. The fair value of the shares of restricted common stock for the first year was $35,000, which was calculated based on a price per share of $0.10 and amortized over the service term. During the six months ended February 28, 2023 and 2022, the Company amortized $14,583 and $nil, respectively as consulting expenses under this agreement. During the three months ended February 28, 2023 and 2022, the Company amortized $8,750 and $nil, respectively as consulting expenses under this agreement.   On February 28, 2023, the Company dismissed ten employees located in Beijing and was liable to pay severance payment of $129,572 (RMB907,000), payable in cash of $36,930 (RMB258,500) and with 926,429 shares of restricted common stock, which would vest on August 31, 2023. The fair value of the shares of restricted common stock was $92,642, which was calculated based on a price per share of $0.10. During the six months ended February 28, 2023 and 2022, the Company recognized $92,642 and $nil, respectively as severance payment. During the three months ended February 28, 2023 and 2022, the Company recognized $92,642 and $nil, respectively as severance payment.   From May 2020 to August 2021, the Company entered into securities purchase agreements with several accredited investors whereby the investors purchased a total of 37,157,535 shares of the Company’s common stock at an average price of $0.140 per share. The Company received aggregate gross proceeds of $5,206,994. Pursuant to the terms of the securities purchase agreements, the investors have piggyback registration rights with respect to the shares. The shares were fully issued by August 30, 2021.   From September 2021 to August 2022, the Company entered into securities purchase agreements with several accredited investors whereby the investors purchased a total of 19,170,000 shares of the Company’s common stock at an average price of $0.12 per share. The Company received aggregate gross proceeds of $2,290,000. Pursuant to the terms of the securities purchase agreements, the investors have piggyback registration rights with respect to the shares. The shares were fully issued by September 2, 2022.   On October 31, 2022, the Company entered into a securities purchase agreement with an individual accredited investor (the “Investor”), to issue and sell to the Investor 1,000,000 shares (the “Shares”) of the Company’s restricted common stock, par value $0.0001 per share, for a purchase price of $0.30 per share. Pursuant to the terms of the securities purchase agreement, the investor will have piggyback registration rights with respect to the shares. The Company issued the Shares to the Investor on November 2, 2022, resulting in $300,000 in aggregate proceeds for the Company.   As of February 28, 2023, unrecognized share-based compensation expense was $355,417.   As of February 28, 2023, 4,522,262 shares were granted to employees and vested but not yet issued.

v3.23.2

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Feb. 28, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	16. COMMITMENTS AND CONTINGENCIES   During the period ended February 28, 2023, the Company entered into month-to-month lease agreements with independent third parties to rent office and staff quarter premises in Taiwan, Shenzhen, Beijing and Hong Kong. The rental expense for the six months ended February 28, 2023 and 2022 were $130,646 and $148,477 respectively; and $64,964 and $59,758 for the three months ended February 28, 2023 and 2022 respectively.   The components of lease costs, lease term and discount rate with respect of leases with an initial term of at least 12 months are as follows:   SCHEDULE OF COMPONENTS OF LEASE COSTS, LEASE TERM AND DISCOUNT RATE     For the six months ended       February 28, 2023     February 28, 2022                 Operating lease cost – classified as general and administrative expenses   $ 123,169     $ 176,635   Weighted Average Remaining Lease Term – Operating leases     1.20 years       1.43 years   Weighted Average Discounting Rate – Operating leases     5.42 %     5.42 %   The following is a schedule, by years, of maturities of lease liabilities as of February 28, 2023:   SCHEDULE OF MATURITIES OF LEASE LIABILITIES     Operating leases   2023 (remaining period)   $ 49,100   2024     42,472   2025     6,300   2026     -   2027     -   Thereafter     -   Total undiscounted cash flows     97,872   Less: imputed interest     (3,097 ) Present value of lease liabilities   $ 94,775     Contingencies   The Labor Contract Law of the People’s Republic of China requires employers to assure the liability of the severance payments if employees are terminated due to restructuring, mutual agreement or expiration of a fixed-term labor contract. The Company has estimated its possible severance payments of approximately $72,000 and $146,000 as of February 28, 2023 and August 31, 2022, respectively. On February 28, 2023, the Company dismissed ten employees and severance payments of $129,572 (RMB907,000) were incurred. The compensation was payable in the form of cash of $36,930 (RMB258,500) and 926,429 restricted shares of the Company. The fair value of the shares of restricted common stock was $92,642, which was calculated based on a price per share of $0.10.The shares will be issued by August 31, 2023.   In Taiwan, an employer can terminate an employment contract with notice (or with pay in lieu of notice) and with severance pay only due to stoppage of business or a transfer of ownership, business losses or curtailment of business operations, suspension of operations due to a force majeure event, or alteration of the business nature, forcing a reduction in the number of employees, and those employees cannot be reassigned to other suitable positions, or the employee is incapable of performing the tasks assigned. The Company has estimated its possible severance payments of approximately $40,000 and $52,000 as of February 28, 2023 and August 31, 2022, respectively, which have not been reflected in its condensed consolidated financial statements, because it is more likely than not that this will not be paid or incurred.

v3.23.2

SUBSEQUENT EVENTS	6 Months Ended
	Feb. 28, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS   On March 15, 2023, the Company issued an offer letter to Kuo-Kang Chang, pursuant to which Mr. Chang agreed to serve as senior VP of marketing and branding strategy for two years. For his services, Mr. Chang will receive an annual remuneration of $20,000 in cash or 1,000,000 shares of restricted common stock. In addition, Mr. Chang may be entitled to additional 1,000,000 restricted shares based on his achievement of appropriate performance criteria to be determined by the board of directors or a committee thereof. The fair value of the shares of restricted common stock for the first year was $10,000, which was calculated based on a price per share of $0.10 and amortized over the service term. 1,000,000 shares were issued to Mr. Chang on April 10, 2023.   On March 15, 2023, the board of directors decided to dissolve LOC. LOC then entered into a de-registration process and its business was taken over by LCHD. Taichung City Government approved the dissolution on April 25, 2023.  $204,759 (approximately NTD6.3 million) of overdue debt was claimed by the creditors and it was included in the other accrued expenses (note 9).   From March to April 2023, the Company entered into securities purchase agreements with two accredited investors whereby the investors purchased a total of 5,000,000 shares of the Company’s common stock at a price of $0.10 per share. The Company received aggregate gross proceed of $500,000. Pursuant to the terms of the securities purchase agreement, the investor will have piggyback registration rights with respect to the shares. The shares were issued to the investors by April 10, 2023.   From May to June 2023, the Company received aggregate gross proceeds of $201,540 from several accredited investors whereby the investors intended to purchase a total of 4,030,000 shares of the Company’s restricted common stock at an average price of $0.05 per share. The shares are expected to be issued by end of July 2023.   On April 20, 2023, the Company entered into consultant agreement with Yueh-Hung Chou for one year. Pursuant to the agreement, Mr. Chou will be compensated at NT$25,000 per month. In addition, he would be remunerated by 300,000 restricted shares of the Company upon the achievement of certain performance as agreed.   The Company borrowed a principal amount of $100,974 (RMB700,000) on April 26, 2023 from a shareholder – Chang-Ming Lu. The loan was 5% p.a. interest bearing payable on monthly basis and would be matured on December 31, 2023. The loan was fully received by May 8, 2023. A further loan of $43,274 (RMB300,000) was borrowed on June 5, 2023. The loan was 5% p.a. interest bearing payable on monthly basis and would be matured on July 5, 2023.

v3.23.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Feb. 28, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation   These unaudited condensed consolidated financial statements of the Company and its subsidiaries are unaudited. In the opinion of management, all adjustments (which are of a normal recurring nature) and disclosures necessary for a fair presentation of these unaudited condensed consolidated financial statements have been included. The results reported in the unaudited condensed consolidated financial statements for any interim periods are not necessarily indicative of the results that may be reported for the entire year. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”), and include the accounts of the Company and its subsidiaries. However, they do not include all information and footnotes necessary for a complete presentation of financial statements in conformity with U.S. GAAP. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. Intercompany accounts and transactions have been eliminated in consolidation.   The Company has adopted August 31 as its fiscal year end. These unaudited financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s annual report on amended Form 10-K for the year ended August 31, 2022.
Going Concern	Going Concern    The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.   As of February 28, 2023, the Company has suffered recurring losses from operations, and records an accumulated deficit, a working capital deficit and a shareholders’ deficit of $36,367,167, $2,782,280 and $2,851,104, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company’s profit generating operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due.   The Company expects to finance its operations primarily through cash flows from operations, loans from existing directors and shareholders and placements of capital stock for additional funding. In the event that the Company requires additional funding to finance the growth of the Company’s current and expected future operations as well as to achieve our strategic objectives, a shareholder has indicated the intent and ability to provide additional financing. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stock holders, in the case of equity financing.   In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. It has also disrupted the normal operations of many businesses, including the Company’s businesses. This outbreak could decrease spending, adversely affect demand for the Company’s services and harm its business and results of operations. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on its business or results of operations at this time.   Affected by the COVID-19, the Company had to re-organize to improve its market competitiveness and to warrant the survival and future development. The Company also had downsized the operations to safeguard the financial position by reduction of labor costs, reduction of office space, and simplified operational procedures.   The Company’s reduction of labor costs were done through resignation and layoffs, whereas all layoffs were processed according to local governing labor laws.   These unaudited condensed consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and the classification of liabilities that might be necessary should the Company be unable to continue as going concern.
Use of Estimates	Use of Estimates   The preparation of these unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. On an on-going basis, the Company evaluates its estimates based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.   The COVID-19 pandemic has created and may continue to create significant uncertainty in macroeconomic conditions, which may cause further business slowdowns or shutdowns, depress demand for the Company’s business, and adversely impact its results of operations. The severity of the impact of the COVID-19 pandemic on the Company’s business will continue to depend on a number of factors, including, but not limited to, the duration and severity of the pandemic, the new variants of COVID-19, the efficacy and distribution of COVID-19 vaccines and the extent and severity of the impact on the global supply chain and the Company’s customers, service providers and suppliers, all of which are uncertain and cannot be reasonably predicted at this time. As of the date of issuance of the Company’s financial statements, the extent to which the COVID-19 pandemic may in the future materially impact the Company’s financial condition, liquidity or results of operations is uncertain. The Company is monitoring and assessing the evolving situation closely and evaluating its potential exposure. Its estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its consolidated financial statements.   Identified below are the accounting policies that reflect the Company’s most significant estimates and judgments, and those that the Company believes are the most critical to fully understanding and evaluating its unaudited condensed consolidated financial statements.
Business combination	Business combination   The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805 “Business Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair values of the assets transferred and liabilities incurred by the Company to the sellers and equity instruments issued. Transaction costs directly attributable to the acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over (ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. During the measurement period, which can be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of comprehensive income.   When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained non-controlling investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.
Goodwill and impairment of Goodwill	Goodwill and impairment of Goodwill   Goodwill represents the excess of the purchase price and related costs over the fair value of the net identified tangible and intangible assets and liabilities assumed and is not amortized (“Goodwill”). The total amount of Goodwill is deductible for tax purposes.   In accordance with ASC Topic 350, “Intangibles-Goodwill and Other,” Goodwill is not amortized but is tested for impairment, annually or more frequently when circumstances indicate a possible impairment may exist. Impairment testing is performed at a reporting unit level. An impairment loss generally would be recognized when the carrying amount of the reporting unit exceeds its fair value.     The Company estimates fair value of the applicable reporting unit or units using a discounted cash flow methodology. This methodology represents a level 3 fair value measurement as defined under ASC 820, Fair Value Measurements and Disclosures, since the inputs are not readily observable in the marketplace. The goodwill impairment testing process involves the use of significant assumptions, estimates and judgments, including projected sales, gross margins, selling, general and administrative expenses, and capital expenditures, and the selection of an appropriate discount rate, all of which are subject to inherent uncertainties and subjectivity. When the Company performs goodwill impairment testing, its assumptions are based on annual business plans and other forecasted results, which it believes represent those of a market participant. The Company selects a discount rate, which is used to reflect market-based estimates of the risks associated with the projected cash flows based on the best information available as of the date of the impairment assessment. Based on the annual impairment analysis, there is impairment of $1,747,945 and $1,226,419 on the goodwill recorded in the Company’s financial statements for the years ended August 31, 2022 and 2021, respectively.   Given the current macro-economic environment and the uncertainties regarding its potential impact on the Company’s business, there can be no assurance that its estimates and assumptions used in its impairment tests will prove to be accurate predictions of the future. If the Company’s assumptions regarding forecasted cash flows are not achieved, it is possible that an impairment review may be triggered and goodwill may be impaired. During the year ended August 31, 2022, the Company expects the reporting unit of FinTech App development not to generate profits in the near future. As a result, the goodwill was fully impaired as of August 31, 2022.
Cash and Cash Equivalents	Cash and Cash Equivalents   Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments.
Software Development Costs	Software Development Costs   The Company expenses software development costs, including costs to develop software products or the software component of products to be marketed to external users, before technological feasibility is reached. Technological feasibility is typically reached shortly before the release of such products and, as a result, development costs that meet the criteria for capitalization were not material for the periods presented.   The Company capitalizes development costs related to these software applications once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended.   No development costs were expensed as general and administrative expenses for the six and three months ended February 28, 2023 and 2022.
Revenue Recognition	Revenue Recognition   The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied.     The Company recognizes revenue following the five-step model prescribed under ASU 2014-09:   Step 1: Identify the contract Step 2: Identify the performance obligations Step 3: Determine the transaction price Step 4: Allocate the transaction price Step 5: Recognize revenue   Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, which may occur at a point in time or over time depending on the terms and conditions of the agreement, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.
Provision of investment platform services	Provision of investment platform services   The Company signed an agreement with a third party whereby the Company authorized the third party to use the Company’s JFB platform and related applications for a period until December 31, 2020. Income from provision of investment platform services with the use of the Company’s mobile applications is recognized when the service is performed.   From September, 2020, the Company generated additional revenue from a new, more comprehensive mobile application, which refer to as the FinMaster mobile application (the “FinMaster App” and together with the JFB platform, the “Apps”), with similar functions as the JFB platform. Income from providing investment platform services with the use of a mobile application is recognized when the service is performed.   The Company offers a self-managed points program, which can be used in the FinMaster App to redeem merchandise or services.   The Company determines the value of each point based on estimated incremental cost. Customers and advocates have a variety of ways to obtain the points. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service. The major accounting policy for its points program is described as follows:   The Company concludes the bonus points offered linked to the purchase transaction of the points is a material right and accordingly a separate performance obligation according to ASC 606, and should be taken into consideration when allocating the transaction price of the point sales. The Company also estimates the probability of points redemption when performing the allocation. The amount allocated to the bonus points as separate performance obligation is recorded as contract liability (deferred revenue) and revenue should be recognized when future goods or services are transferred. The Company will continue to monitor when and if forfeiture rate data becomes available and will apply and update the estimated forfeiture rate at each reporting period.   Since historical information is limited for the Company to determine any potential points forfeitures and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.
Provision of software development service and maintenance service	Provision of software development service and maintenance service   The Company entered into several agreements with third party customers to assist the customers in the development of their mobile communications software and mobile e-commerce software. Income from provision of software development service and maintenance service are recognized when the service is performed.
Revenue by major product line	Revenue by major product line  SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE     February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022   Provision of investment platform services   $ 17,397     $ 4,799     $ 8,249     $ 1,557   Provision of software development service and maintenance service     331,064       17,637       85,672       6,074   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631
Revenue by Recognition Over Time vs Point in Time	Revenue by Recognition Over Time vs Point in Time  SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Revenue by recognition over time   $ 348,461     $ 22,436     $ 93,921     $ 7,631   Revenue by recognition at a point in time     -       -       -       -   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631     Remaining performance obligations represent contracted revenues that had not yet been recognized, and include deferred revenues; invoices that have been issued to customers but were uncollected and have not been recognized as revenues; and amounts that will be invoiced and recognized as revenues in future periods. As of February 28, 2023, the Company’s remaining performance obligations were $50,000, which it expects to recognize as revenues over the next twelve months and the remainder thereafter.   The Company had not occurred any costs to obtain contracts.   The Company does not have amounts of contract assets since revenue is recognized as control of goods or services is transferred. The contract liabilities consist of advance payments from customers. The contract liabilities are reported in a net position on a customer-by-customer basis at the end of each reporting period. All contract liabilities are expected to be recognized as revenue within one year and are included in other payables and accrued liabilities in the consolidated balance sheet.
Contract balances	Contract balances   The Company’s contract liabilities consist of receipts in advance for software development and FinMaster App. The Company withdrew from the investment platform service in February 2023 and the advance payment from FinMaster App would be refunded to customers upon requests received. The Company updated its assessment of amount of refunds and recognized the amounts received for which it did not expect to be entitled as a refund liability. Below is the summary presenting the movement of the Company’s contract liabilities for the six months ended February 28, 2023 and 2022:  SCHEDULE OF CONTRACT LIABILITIES Receipt in advance   2023     2022                 Balance as of September 1   $ 169,951     $ 16,225   Advances received from customers     211,734       2,677   Revenue recognized     (318,267 )     (15,948 ) Refund liability recognized     (13,019 )     -   Exchange difference     (399 )     (101 ) Balance as of February 28   $ 50,000     $ 2,853
Practical Expedients and Exemption	Practical Expedients and Exemption   The Company has not incurred any costs to obtain contracts, and does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.
Research and development expenses	Research and development expenses   Research and development (“R&D”) expenses are primary comprised of charges for R&D and consulting work performed by third parties; salaries and benefits for those employees engaged in research, design and development activities; costs related to design tools; and allocated costs.   For the six months ended February 28, 2023 and 2022, the total R&D expenses were $216,688 and $261,179, respectively.   For the three months ended February 28, 2023 and 2022, the total R&D expenses were $110,410 and $114,896, respectively.
Sales and marketing expenses	Sales and marketing expenses   Sales and marketing expenses consist primarily of marketing and promotional expenses, salaries and other compensation-related expenses to sales and marketing personnel. Advertising expenses consist primarily of costs for the promotion of corporate image and product marketing. The Company expenses all advertising costs as incurred and classifies these costs under sales and marketing expenses. For the six months ended February 28, 2023 and 2022, advertising costs totaled $18,423 and $240,049, respectively. For the three months ended February 28, 2023 and 2022, advertising costs totaled $4,613 and $29,446, respectively.   From September 2019, customers or users of the FinMaster App can obtain points through any other ways such as account registration referral to the FinMaster App, frequent sign-ins to the application and sharing articles from the application to users’ own social media, etc. The Company believes these points are to encourage user engagement and generate market awareness. As a result, the Company accounts for such points as sales and marketing expenses with a corresponding liability recorded under other current liabilities of its unaudited condensed consolidated balance sheets upon the points offering. The Company estimates liabilities under the customer loyalty program based on cost of the merchandise that can be redeemed, and its estimate of probability of redemption. At the time of redemption, the Company records a reduction of inventory and other current liabilities. The loyalty program was subsequently ended on April 30, 2023 after the Company withdrew from the investment platform service.   Since historical information is limited for the Company to determine any potential points forfeiture and most merchandise can be redeemed without requiring a significant amount of points compared with the amount of points provided to users, the Company has used an estimated forfeiture rate of zero.   For the six months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,477) and $7,487, respectively.   For the three months ended February 28, 2023 and 2022, redeemable point liability (credited) charged as sales and marketing expenses were $(1,450) and $4,318, respectively.   As of February 28, 2023 and August 31, 2022, liabilities recorded related to unredeemed points were $80,338 and $82,638, respectively, which were included in other payables (note 9).
General and administrative expenses	General and administrative expenses   General and administrative expenses consist primarily of salaries, bonuses and benefits for employees involved in general corporate functions, depreciation and amortization of fixed assets, legal and other professional services fees, rental and other general corporate related expenses.
Inventory	Inventory   Inventories are stated at the lower of cost or net realizable value. Cost is calculated on an average basis and includes all costs to acquire and other costs to bring the inventories to their present location and condition. The Company records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Company also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.   Inventory as of February 28, 2023 and August 31, 2022 represents merchandise inventory which can be redeemed by deducting membership rewards points of customer loyalty program.
Leases	Leases   The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use (“ROU assets”) assets represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. The Company elected the package of practical expedients permitted under the transition guidance to combine the lease and non-lease components as a single lease component for operating leases associated with the Company’s office space lease, and to keep leases with an initial term of 12 months or less off the balance sheet and recognize the associated lease payments in the consolidated statements of income on a straight-line basis over the lease term.   The operating lease is included in operating lease right-of-use assets, operating lease liabilities-current and operating lease liabilities-non-current on the Company’s consolidated balance sheets.
Plant and Equipment	Plant and Equipment   Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational:  SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES     Expected useful life   Furniture and fixture     3   Office equipment     3   Leasehold improvement     3
Intangible assets	Intangible assets   The Company recorded intangible assets with definite lives, including investment platform and technical know-hows. Intangible assets are recorded at cost less accumulated amortization with no residual value. Amortization of intangible assets is computed using the straight-line method over their estimated useful lives.   The estimated useful lives of the Company’s intangible assets are listed below:  SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS Investment platform     5 years   Technical know-hows     8 years   Trademarks     10 years
Impairment of Long-Lived Assets (including amortizable intangible assets)	Impairment of Long-Lived Assets (including amortizable intangible assets)   The Company reviews the carrying values of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If the assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. No impairment has been recorded by the Company for the six and three months ended February 28, 2023 and 2022.
Employee benefits	Employee benefits   The Taiwan subsidiary also operates a Defined Contribution Pension Plan under the Labor Pension Act (the Act) for employees in Taiwan. The Act stipulated that the contribution rate by the employer per month shall not be less than 6% of the employees’ monthly salary, and the Table of Monthly Contribution Salary Classification shall be prescribed by Central Competent Authority. The highest bracket of Monthly Contribution Salary issued by Central Competent Authority is $4,839 (NTD150,000). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $9,869 and $23,387 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $4,592 and $12,478 for the three months ended February 28, 2023 and 2022, respectively.   Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiary of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Company has no legal obligation for the benefits beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $58,050 and $62,771 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $30,145 and $31,559 for the three months ended February 28, 2023 and 2022, respectively.   The Hong Kong subsidiary operates a Mandatory Provident Fund (“MPF”) scheme for all qualifying employees in Hong Kong. The MPF is a defined contribution scheme and the assets of the scheme are managed by a trustee independent of the Group. The MPF is available to all employees aged 10 to 64 with a least 60 days of service under the employment of the Group in Hong Kong. Contributions are made by the Group to a cap of HK$1,500 (equivalent to $192 per month). Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $5,115 and $5,124 for the six months ended February 28, 2023 and 2022, respectively. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately $3,524 and $4,083 for the three months ended February 28, 2023 and 2022, respectively.
Income taxes	Income taxes   Income taxes are determined in accordance with the provisions of Accounting Standards Codification (“ASC”) Topic 740, “Income Taxes” (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.   ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. As of February 28, 2023, the Company has no accrued interest or penalties related to uncertain tax positions.   The Company conducts business in the PRC, Taiwan and Hong Kong and is subject to tax in these jurisdictions. As a result of its business activities, the Company will file tax returns that are subject to examination by the respective tax authorities.
Net Loss Per Share	Net Loss Per Share   The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock equivalents had been issued and if the additional shares of common stock were dilutive. The following table presents a reconciliation of basic and diluted net loss per share:  SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022                             Net loss   $ (1,446,003 )   $ (4,496,286 )   $ (726,930 )   $ (2,377,399 ) Weighted average number of shares of common stock outstanding - Basic and diluted**     201,084,637       165,431,246       202,304,158       170,033,710   Net loss per share - Basic and diluted   $ (0.01 )   $ (0.03 )   $ (0.00 )*   $ (0.02 )     * Less than $0.01         ** Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022.
Stock-based compensation	Stock-based compensation   Stock-based compensation is accounted for based on the requirements of the Share-Based Payment topic of ASC Topic 718 (“ASC 718”), which requires recognition in the financial statements of the cost of employee and director services received in exchange for an award of equity instruments over the vesting period or immediately if fully vested and non-forfeitable. The Financial Accounting Standards Board (“FASB”) also requires measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value of the award.   Additionally, ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting, permits the election of an accounting policy for forfeitures of share-based payment awards, either to recognize forfeitures as they occur or estimate forfeitures over the vesting period of the award. The Company has elected to recognize forfeitures as they occur.   On September 1, 2019, the Company adopted ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718) - Improvements to Nonemployee Share-Based Payment Accounting” (“ASU 2018-07”), which simplifies several aspects of the accounting for nonemployee share-based payment transactions by expanding the scope of the stock-based compensation guidance in ASC 718 to include share-based payment transactions for acquiring goods and services from non-employees. Before the adoption of this guidance, the equity-classified share-based awards held by non-employees were subject to re-measurement through each vesting date. Upon the adoption of this guidance, the Company no longer re-measures equity-classified share-based awards granted to consultants or non-employees at each reporting date through the vesting date and the accounting for these share-based awards to consultants or non-employees and employees was substantially aligned.   Cancellation of a share-based payment by the entity results in accelerated recognition of any unrecognised cost. Cancellation by the counterparty does not change recognition of the compensation cost. The termination of an employee that resulted in the forfeiture of share-based awards is not considered to be a cancellation of the awards.
Foreign Currencies Translation	Foreign Currencies Translation   Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations.   The reporting currency of the Company is United States Dollars (“US$”). The Company’s subsidiary in Seychelles, the PRC, Taiwan and Hong Kong maintains its books and record in United States Dollars (“US$”), Renminbi (“RMB”), New Taiwanese Dollars (“NT$”) and United States Dollars (“US$”) respectively, which are the primary currencies of the economic environment in which the entities operate (the functional currencies).   In general, for consolidation purposes, the assets and liabilities of the Company’s subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from the translation of the financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of retained earnings.   Translation of amounts from foreign currencies into US$ has been made at the following exchange rates for the respective periods:  SCHEDULE OF FOREIGN CURRENCY TRANSLATION     As of February 28, 2023     As of August 31, 2022                 Period-end NT$ : US$ 1 exchange rate     30.68       30.38   Period-end RMB : US$ 1 exchange rate     6.95       6.89         February 28, 2023     February 28, 2022       For the six months ended,       February 28, 2023     February 28, 2022                 Period average NT$ : US$ 1 exchange rate     31.00       27.82   Period average RMB : US$ 1 exchange rate     7.00       6.42
Related Parties	Related Parties   Parties, which can be a corporation or an individual, are considered to be related if the Company has the ability to, directly or indirectly, control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.
Convertible instruments	Convertible instruments   The Company accounts for hybrid contracts that feature conversion options in accordance with U.S. GAAP. ASC 815 “Derivatives and Hedging Activities,” (“ASC 815”) requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.   Conversion options that contain variable settlement features such as provisions to adjust the conversion price upon subsequent issuances of equity or equity linked securities at exercise prices more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument.   The Company accounts for convertible instruments, when the Company has determined that the embedded conversion options should not be bifurcated from their host instruments, in accordance with ASC 470-20 “Debt with Conversion and Other Options” (“ASC 470-20”). Under ASC 470-20 the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. The Company accounts for convertible instruments (when the Company has determined that the embedded conversion options should be bifurcated from their host instruments) in accordance with ASC 815. Under ASC 815, a portion of the proceeds received upon the issuance of the hybrid contract are allocated to the fair value of the derivative. The derivative is subsequently marked to market at each reporting date based on current fair value, with the changes in fair value reported in results of operations.
Segment reporting	Segment reporting   ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s chief operating decision maker organizes segments within the company for making operating decisions assessing performance and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.   Management determined the Company’s operations constitute a single reportable segment in accordance with ASC 280. The Company operates exclusively in one business and industry segment: the provision of investment platform services through mobile application.
Recent Accounting Pronouncements	Recent Accounting Pronouncements   Recently Adopted Accounting Standards   In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”). ASU 2021-04 provides guidance as to how an issuer should account for a modification of the terms or conditions or an exchange of a freestanding equity-classified written call option (i.e., a warrant) that remains classified after modification or exchange as an exchange of the original instrument for a new instrument. An issuer should measure the effect of a modification or exchange as the difference between the fair value of the modified or exchanged warrant and the fair value of that warrant immediately before modification or exchange and then apply a recognition model that comprises four categories of transactions and the corresponding accounting treatment for each category (equity issuance, debt origination, debt modification, and modifications unrelated to equity issuance and debt origination or modification). ASU 2021-04 is effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the guidance provided in ASU 2021-04 prospectively to modifications or exchanges occurring on or after the effective date. Early adoption is permitted for all entities, including adoption in an interim period. If an entity elects to early adopt ASU 2021-04 in an interim period, the guidance should be applied as of the beginning of the fiscal year that includes that interim period. The Company adopted ASU 2021-04 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.     In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy. This update is effective for annual periods beginning after December 15, 2021, and early application is permitted. This guidance should be applied either prospectively to all transactions that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company adopted ASU 2021-10 effective September 1, 2022. The adoption of ASU 2021-04 did not have any impact on the Company’s condensed consolidated financial statement presentation or disclosures.   Recently issued accounting pronouncements not yet adopted   In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13”), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. ASU 2016-13 is to be adopted on a modified retrospective basis. As a smaller reporting company, ASU 2016-13 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. In March 2023, the FASB issued ASU 2023-02, Topic 326. The ASU eliminates the accounting guidance for trouble debt restructurings by creditors in Subtopic 310-40, and enhances the disclosure requirements for modifications of loans to borrowers experiencing financial difficulty. Additionally, the ASU requires disclosure of gross writeoffs of receivables by year of origination for receivables within the scope of Subtopic 326-20, Financial Instruments - Credit Losses - Measured at Amortized Cost. This ASU is effective for periods beginning after December 15, 2023. The Company is currently evaluating the impact that the adoption of ASU 2016-13 and ASU 2023-02 will have on its condensed consolidated financial statement presentations and disclosures.   In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 of the two-step Goodwill impairment test, under which a goodwill impairment loss was measured by comparing the implied fair value of a reporting unit’s Goodwill with the carrying amount of that Goodwill. ASU 2017-04 requires only a one-step quantitative impairment test, whereby a Goodwill impairment loss is measured as the excess of a reporting unit’s carrying amount over its fair value (not to exceed the total Goodwill allocated to that reporting unit). Adoption of the ASUs is on a modified retrospective basis. As a smaller reporting company, the standard will be effective for the Company for interim and annual reporting periods beginning after December 15, 2022. The Company does not expect the impact of this guidance to have a material impact on the Company’s condensed consolidated financial statements.   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 the recognition and measurement of contract assets and contract liabilities acquired in a business combination in accordance with ASC 606, Revenue from Contracts with Customers. This creates an exception to the general recognition and measurement principles in ASC 805. As a smaller reporting company, ASU 2021-08 will be effective for the Company for interim and annual reporting periods beginning after December 15, 2023, with early adoption permitted. The amendments in this ASU should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company does not anticipate that the adoption of this guidance will have a material impact on the condensed consolidated financial statements.   In March 2023, the FASB issued ASU 2023-01, Lease (Topic 842): Common Control Arrangements, which clarifies the accounting for leasehold improvements associated with leases between entities under common control (hereinafter referred to as common control lease). ASU 2023-01 requires entities to amortize leasehold improvements associated with common control lease over the useful life to the common control group (regardless of the lease term) as long as the lessee controls the use of the underlying asset through a lease, and to account for any remaining leasehold improvements as a transfer between entities under common control through an adjustment to equity when the lessee no longer controls the underlying asset. This ASU will be effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been made available for issuance. An entity may apply ASU 2023-01 either prospectively or retrospectively. The Company is currently evaluating the impact that the adoption of ASU 2023-01 will have on our condensed consolidated financial statement presentations and disclosures.   The Company’s management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement presentation or disclosures.

v3.23.2

ORGANIZATION AND BUSINESS BACKGROUND (Tables)	6 Months Ended
	Feb. 28, 2023
Accounting Policies [Abstract]
SCHEDULE OF SUBSIDIARIES OF COMPANY	The Company, through its subsidiaries, mainly operates and services a mobile application investment platform.  SCHEDULE OF SUBSIDIARIES OF COMPANY Company Name   Place/Date of Incorporation   Principal Activities           1. Leader Financial Group Limited (“LFGL”)   Seychelles / March 6, 2017   Investment Holding           2. JFB Internet Service Limited (“JFB”)   Hong Kong / July 6, 2017   Provides an Investment Platform   Company Name   Place/Date of Incorporation   Principal Activities           1. LOC Weibo Co., Ltd. (“LOC”)   Republic of China/September 29, 2017   Development of ecological-systems applications, integration of big data and promotion of OTT applications           2. Beijing DataComm Cloud Media Technology Co., Ltd. (“BJDC”)   People’s Republic of China /April 16, 2013   Development of ecological-systems applications, integration of big data and promotion of OTT applications

v3.23.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Feb. 28, 2023
Accounting Policies [Abstract]
SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE	SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE     February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28,2023     February 28, 2022   Provision of investment platform services   $ 17,397     $ 4,799     $ 8,249     $ 1,557   Provision of software development service and maintenance service     331,064       17,637       85,672       6,074   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631
SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME	SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Revenue by recognition over time   $ 348,461     $ 22,436     $ 93,921     $ 7,631   Revenue by recognition at a point in time     -       -       -       -   Revenue   $ 348,461     $ 22,436     $ 93,921     $ 7,631
SCHEDULE OF CONTRACT LIABILITIES	SCHEDULE OF CONTRACT LIABILITIES Receipt in advance   2023     2022                 Balance as of September 1   $ 169,951     $ 16,225   Advances received from customers     211,734       2,677   Revenue recognized     (318,267 )     (15,948 ) Refund liability recognized     (13,019 )     -   Exchange difference     (399 )     (101 ) Balance as of February 28   $ 50,000     $ 2,853
SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES	SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES     Expected useful life   Furniture and fixture     3   Office equipment     3   Leasehold improvement     3
SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS	The estimated useful lives of the Company’s intangible assets are listed below:  SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS Investment platform     5 years   Technical know-hows     8 years   Trademarks     10 years
SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE	SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022                             Net loss   $ (1,446,003 )   $ (4,496,286 )   $ (726,930 )   $ (2,377,399 ) Weighted average number of shares of common stock outstanding - Basic and diluted**     201,084,637       165,431,246       202,304,158       170,033,710   Net loss per share - Basic and diluted   $ (0.01 )   $ (0.03 )   $ (0.00 )*   $ (0.02 )     * Less than $0.01         ** Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022.
SCHEDULE OF FOREIGN CURRENCY TRANSLATION	Translation of amounts from foreign currencies into US$ has been made at the following exchange rates for the respective periods:  SCHEDULE OF FOREIGN CURRENCY TRANSLATION     As of February 28, 2023     As of August 31, 2022                 Period-end NT$ : US$ 1 exchange rate     30.68       30.38   Period-end RMB : US$ 1 exchange rate     6.95       6.89         February 28, 2023     February 28, 2022       For the six months ended,       February 28, 2023     February 28, 2022                 Period average NT$ : US$ 1 exchange rate     31.00       27.82   Period average RMB : US$ 1 exchange rate     7.00       6.42

v3.23.2

ACQUISITION OF SUBSIDIARIES (Tables)	6 Months Ended
	Feb. 28, 2023
Business Combination and Asset Acquisition [Abstract]
SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED	SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED           Cash and cash equivalents   $ 185,117   Prepayments, deposits and other receivables     145,228   Due from a shareholder     34,048   Right-of-use operating lease assets     113,590   Plant and equipment, net     30,365   Intangible assets- Technical know-hows     818,200   Goodwill     2,974,364   Other payables and accrued liabilities     (383,087 ) Contract liabilities     (2,896 ) Due to shareholders     (99,730 ) Operating lease liability     (113,646 ) Tax payable     (31,871 ) Deferred tax liabilities     (163,640 ) Net purchase price   $ 3,506,042             Less: Outstanding NPI debt owed to the Company         Accounts receivable     989,854   Notes payable     (3,066,617 ) Aggregate fair values of the assets acquired and liabilities assumed   $ 1,429,279

v3.23.2

PLANT AND EQUIPMENT, NET (Tables)	6 Months Ended
	Feb. 28, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PLANT AND EQUIPMENT, NET	Plant and equipment as of February 28, 2023 and August 31, 2022 are summarized below:  SCHEDULE OF PLANT AND EQUIPMENT, NET     As of February 28, 2023     As of August 31, 2022   Furniture and fixtures   $ 30,340     $ 30,494   Office equipment     83,466       89,858   Leasehold improvement     82,631       82,969   Total     196,437       203,321   Less: Accumulated depreciation     (150,488 )     (132,317 ) Plant and Equipment, net   $ 45,949     $ 71,004

v3.23.2

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets costs as of February 28, 2023 and August 31, 2022 are summarized below:  SCHEDULE OF INTANGIBLE ASSETS     As of February 28, 2023     As of August 31, 2022   Investment platform   $ 30,000     $ 30,000   Technical know-hows     818,200       818,200   Trademarks     4,920       4,920   Total     853,120       853,120   Less: Accumulated amortization     (199,281 )     (199,035 ) Impairment     (649,781 )     (649,781 ) Intangible assets, net   $ 4,058     $ 4,304
SCHEDULE OF AMORTIZATION EXPENSES RELATED TO INTANGIBLE ASSETS	As of February 28, 2023, amortization expenses related to intangible assets for future periods are estimated to be as follows:  SCHEDULE OF AMORTIZATION EXPENSES RELATED TO INTANGIBLE ASSETS           2023 (remaining period)   $ 246   2024     492   2025     492   2026     492   2027     492   2028 and thereafter     1,844   Total   $ 4,058

v3.23.2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	6 Months Ended
	Feb. 28, 2023
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTY RELATIONSHIP	SCHEDULE OF RELATED PARTY RELATIONSHIP Name of Entity or Individual   Relationship with the Company DFP Holdings Limited (“DFP”)   Note a Reblood Biotech Corp.   Note b Reblood Biotech Limited   Note b Asia Pacific Integrating System Limited   Note c Yi-Hsiu Lin   Shareholder and director of the Company Jui-Chin Chen   Shareholder of the Company Teh-Ling Chen   Shareholder of the Company CPN Investment Limited   Shareholder of the Company Kuo-Hsun Hsu   Shareholder of the Company Chun-Shuo Huang   Shareholder of the Company Yu-Cheng Tu   Shareholder of the Company Chin-Chiang Wang   Shareholder of the Company Ching-Nan Wang   Shareholder of the Company Chin-Ping Wang   Shareholder of the Company Shih-Chu Lo   Shareholder of the Company   (a) As of February 28, 2023, the Company and Yi-Hsiu Lin held 7.01% and 7.01% of DFP’s outstanding common stock. DFP was also the shareholder of the Company.     (b) Reblood Biotech Corp., a Nevada company, in which Yi-Hsiu Lin was the shareholder. Reblood Biotech Limited, a Hong Kong company, which was a subsidiary of Reblood Biotech Corp.     (c) Asia Pacific Integrating System Limited, a Taiwanese company, wholly owned by Shih-Chu Lo, a shareholder of the Company, holding 100% equity interests as of February 28, 2023.
SCHEDULE OF RELATED PARTY TRANSACTIONS	The Company entered into the following significant related party transactions:  SCHEDULE OF RELATED PARTY TRANSACTIONS     For the six months ended     For the three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022                             Provision of software development service to DFP (a)   $ 300,000     $ -     $ 70,000     $ -   Provision of software maintenance service to DFP (a)     31,065       -       15,673       -                                     Rental expense to Yu-Cheng Tu (b)     -       3,239       -       4   Rental expense to Reblood Biotech Limited (d)     18,302       17,745       9,545       8,889                                     Interest expense to:                                 Teh-Ling Chen (Note 13)     -       6,000       -       3,000   CPN Investment Limited (c)     -       -       -       -   Chun-Shuo Huang (Note 10(a))     17,143       -       8,726       -   Ching-Nan Wang (Note 12)     36,000       30,000       18,000       15,000   Jui-Chin Chen (Note 10(b) and 13)     2,400       3,000       1,200       1,500   Chin-Chiang Wang (Note 10(c) and 13)     6,000       6,000       3,000       3,000   Chin-Ping Wang (Note 13)     -       2,835       -       (165 ) Ching-Nan Wang (Note 13)     -       2,835       -       (165 )   (a) The Company entered into a Customized App Development Agreement providing the online and offline learning opportunities across different subjects on January 27, 2022 with DFP. The Company delivered an app and provided the follow-up maintenance service since August 2022. For the six and three months ended February 28, 2023, software maintenance income of $31,065 and $15,673, respectively was generated from this customer. Both parties entered another software development agreement on March 31, 2022 and the Company delivered the app on January 16, 2023. For the six and three months ended February 28, 2023, revenue of $300,000 and $70,000, respectively was generated.     (b) On September 1, 2020, LOC leased an office in Taichung, Taiwan from the Company’s shareholder- Yu-Cheng Tu. The lease was renewed on April 1, 2021 for additional one-year term and early terminated on October 31, 2021. The monthly lease was for the amount of NTD 45,000 ($1,617), with a term of one year. During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $3,239, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $4, respectively that are included in general and administrative expenses.     (c) The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. Interest of $nil was incurred for the six and three months ended February 28, 2023.     (d) On June 1, 2021, JFB leased an office in Taipei, Taiwan from a company which was the subsidiary of Reblood Biotech Corp.. The monthly lease was for the amount of NTD 82,062 ($2,647), with a term of 16 months. On October 1, 2022, the lease was renewed for additional one year. The monthly rental was NTD 97,062 ($3,131). During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $18,302 and $17,745, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $9,545 and $8,889, respectively that are included in general and administrative expenses.     (e) NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022.
SCHEDULE OF RELATED PARTY BALANCES	Apart from the above, the Company recorded the following significant related party balances as of February 28, 2023 and August 31, 2022:  SCHEDULE OF RELATED PARTY BALANCES     As of February 28, 2023     As of August 31, 2022   Accounts receivable from related parties                                   Receivables from DFP   $ 2,705     $ 2,732     Up to the date of this report, DFP had repaid $nil to the Company.       As of February 28, 2023     As of August 31, 2022   Contract liabilities due to related parties                                   due to DFP   $ -     $ 150,000   due to Asia Pacific Integrating System Limited   $ 50,000     $ -   Contract liabilities due to related parties   $ 50,000     $ -       Up to the date of this report, $nil of the above contract liabilities had been utilized.       As of February 28, 2023     As of August 31, 2022   Accrued interests payable to related parties                                   Ching-Nan Wang (note 12)   $ 20,935     $ 2,935   Chun-Shuo Huang (note 10 (a))     2,851       2,851   Jui-Chin Chen (note 10(b))     5,629       3,229   Chin-Chiang Wang (note 10(c))     3,165       9,165   Accrued interests payable to related parties   $ 32,580     $ 18,180

v3.23.2

PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES (Tables)	6 Months Ended
	Feb. 28, 2023
Prepayments Deposits And Other Receivables
SCHEDULE OF PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES	SCHEDULE OF PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES     As of February 28, 2023     As of August 31, 2022                 Rental and management fee deposits   $ 50,952     $ 100,498   Other prepaid expenses     46,663       52,723   Other taxes recoverable     2,132       35,802   Prepayments, deposits and other receivables     99,747       189,023   Less: non-current portion                 Rental and management fee deposits     6,519       12,822   Prepayments, deposits and other receivables, non-current     6,519       12,822   Prepayments, deposits and other receivables, current   $ 93,228     $ 176,201

v3.23.2

ACCRUED EXPENSES AND OTHER PAYABLES (Tables)	6 Months Ended
	Feb. 28, 2023
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES AND OTHER PAYABLES	SCHEDULE OF ACCRUED EXPENSES AND OTHER PAYABLES     As of February 28, 2023     As of August 31, 2022   Accrued interests (Note 7, 10 and 12)   $ 32,580       18,180   Accrued payroll     244,805       150,932   Other accrued expenses     279,627       197,428   Other taxes payable     462       1,377   Refund liabilities     13,154       -   Point liabilities     80,338       82,638   Accrued expenses and other payables   $ 650,966       450,555

v3.23.2

DUE FROM (TO) SHAREHOLDERS AND DIRECTORS (Tables)	6 Months Ended
	Feb. 28, 2023
Due From To Shareholders And Directors
SCHEDULE OF DUE FROM (TO) SHAREHOLDERS AND DIRECTORS	SCHEDULE OF DUE FROM (TO) SHAREHOLDERS AND DIRECTORS      As of  February 28, 2023     As of August 31, 2022   Other loans from shareholders:                 Jui-Chin Chen (b)   $ (80,000 )   $ (80,000 ) Chun-Shuo Huang (a)     (144,248 )     (145,159 ) Mei-Ying Huang (d)     (2,608 )     (35,550 ) Chin-Chiang Wang (c)     (200,000 )     (200,000 ) CPN Investment Limited (g)     (73,400 )     -   Total (Note 11)     (500,256 )     (460,709 ) Less: Other loans from shareholders, non-current     200,000       200,000       $ (300,256 )   $ (260,709 )                   Due to a director - current:                 Yi-Hsiu Lin (e)   $ (1,159,788 )   $ (973,564 )                   Due to shareholders - current:                 Yu-Cheng Tu (e)   $ (41,377 )   $ (42,472 ) Hung-Pin Cheng (e)     (5,363 )     (471 ) Mei-Ying Huang (e)     (800 )     (800 ) Shih-Chu Lo (e)     (800 )     (800 ) Jun-Yuan Chen (e)     (800 )     (800 ) Total   $ (49,140 )   $ (45,343 )                   Due from a shareholder - current:                 Kuo-Hsun Hsu (f)   $ 2,086     $ -     (a) On February 28, 2022, the Company obtained a loan of RMB1,000,000 ($144,248) from Chun-Shuo Huang, which accrues interest at the rate of 8% per annum. The loan was due on May 27, 2022 and further extended to December 31, 2022 and accrued interest at the rate of 2% per month. The repayment was extended to June 30, 2023 as agreed by both parties. Interest of $17,143 and $nil respectively was incurred for the six months ended February 28, 2023 and 2022. Interest of $8,726 and $nil respectively was incurred for the three months ended February 28, 2023 and 2022. Interest of $2,851 was accrued as of February 28, 2023 and August 31, 2022.     (b) The loan was modified from convertible note on March 23, 2022 and would be repayable in five installments before February 28, 2023 with 6% interest-bearing per annum. $20,000 was repaid by the Company as of February 28, 2023. On November 29, 2022, both parties entered into an amendment agreement to extend the payment time of the remaining loans and interests by November 30, 2023. For the six months ended February 28, 2023, interest of $2,400 and $3,000 were incurred respectively. For the three months ended February 28, 2023, interest of $1,200 and $1,500 were incurred respectively. Interest of $5,629 and $3,229 was accrued as of February 28, 2023 and August 31, 2022, respectively.     (c) The loan was modified from convertible note on May 3, 2022 and would mature on November 25, 2024 with 6% interest-bearing per annum. For the six months ended February 28, 2023 and 2022, interest of $6,000 were incurred. For the three months ended February 28, 2023 and 2022, interest of $3,000 were incurred. Interest of $3,165 and $9,165 was accrued as of February 28, 2023 and August 31, 2022, respectively.     (d) The Company borrowed non-interest bearing loans in the aggregate amount of NTD4,000,000 ($130,378) from Huang Mei-Ying. The loan of NTD2,500,000 ($81,486) borrowed on November 24, 2021 was due on May 24, 2022 but further extended to December 31, 2022. The loan was fully repaid on October 25, 2022. The loan of NTD1,000,000 ($32,594) borrowed on January 12, 2022 was fully repaid on July 22, 2022. NTD420,000 ($13,690) was repaid for the remaining loan of NTD500,000 ($16,297) obtained on February 9, 2022 which would be repayable based on the Company’s financial ability.     (e) Amounts due to shareholders and a director are unsecured, interest-free with no fixed payment term.     (f) NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022. The advance is non-interest bearing and would repayable on demand.     (g) The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. No interest was accrued as of February 28, 2023.

v3.23.2

OTHER LOANS (Tables)	6 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
SCHEDULE OF OTHER LOANS	SCHEDULE OF OTHER LOANS      As of February 28, 2023     As of August 31, 2022   Other loans:                 - from shareholders (note 10)   $ 500,256     $ 460,709   - from a non-related party     5,802       -         506,058       460,709   Less: Other loan, non-current:     (200,000 )     (200,000 )     $ 506,058     $ 260,709

v3.23.2

CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES (Tables)	6 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES PAYABLE	SCHEDULE OF CONVERTIBLE NOTES PAYABLE      Principal amount     Issue date   Maturity date   Interest rate   Jui-Chin Chen (a)     100,000     March 18, 2020   March 18, 2022     6 % Teh-Ling Chen (b)     100,000     November 2, 2020   November 2, 2022     6 % Chin-Ping Wang (c)     200,000     November 25, 2020   November 25, 2022     6 % Chin-Nan Wang (d)     200,000     November 25, 2020   November 25, 2022     6 % Chin-Chiang Wang (d)     200,000     November 25, 2020   November 25, 2022     6 % Teh-Ling Chen (e)     100,000     January 15, 2021   January 15, 2023     6 %     $ 900,000                     (a) On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen.     (b) On November 2, 2020, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on November 2, 2022 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.      (c) On November 25, 2020, the Company issued a Note in the principal amount of $200,000, which accrues interest at the rate of 6% per annum, to a shareholder – Chin-Chiang Wang. The Note is due on November 25, 2022 and unsecured. On May 3, 2022, the Company entered into an amendment to the Note and the convertible promissory note purchase agreement with Chin-Chiang Wang, mutually agreed to extend the maturity date to November 25, 2024 and cancel the conversion option. The balance was classified as non-current 6% loan on the same date (Note 10(c)).     (d) On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.     (e) On January 15, 2021, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on January 15, 2023 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.

v3.23.2

INCOME TAXES (Tables)	6 Months Ended
	Feb. 28, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF INCOME/(LOSS) BEFORE INCOME TAXES	For the period ended February 28, 2023 and 2022, the local (United States) and foreign components of loss before income tax were comprised of the following:   SCHEDULE OF INCOME/(LOSS) BEFORE INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Tax jurisdictions from:                                 - Local   $ (457,623 )   $ (2,375,752 )   $ (349,474 )   $ (1,450,149 ) - Foreign, representing                                 Seychelles     -       -       -       -   British Virgin Islands     (1,399 )     (1,855 )     (255 )     (298 ) Taiwan     (437,102 )     (1,251,440 )     (134,125 )     (567,529 ) PRC     (337,557 )     (254,628 )     (131,628 )     (135,191 ) Hong Kong     (208,857 )     (621,575 )     (107,983 )     (228,714 ) Tax jurisdictions from foreign     (208,857 )     (621,575 )     (107,983 )     (228,714 ) Loss before income tax     (1,446,003 )     (4,505,250 )     (726,930 )     (2,381,881 )
SCHEDULE OF COMPONENTS OF PROVISION BENEFIT FOR INCOME TAXES	The components of the benefit for income taxes expenses are:   SCHEDULE OF COMPONENTS OF PROVISION BENEFIT FOR INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Current   $          -     $ -     $ -     $ -   Deferred     -       (8,964 )     -       (4,482 ) Total income tax benefit   $ -     $ (8,964 )   $ -     $ (4,482 )
SCHEDULE OF PROVISION FOR INCOME TAXES	The benefit for income taxes consisted of the following:   SCHEDULE OF PROVISION FOR INCOME TAXES     February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022       Six months ended     Three months ended       February 28, 2023     February 28, 2022     February 28, 2023     February 28, 2022   Loss before income taxes   $ (1,446,003 )     (4,505,250 )     (726,930 )   $ (2,381,881 ) Statutory income tax rate     21 %     21 %     21 %     21 % Income tax credit computed at statutory income rate     (302,933 )     (946,103 )     (151,928 )     (400,195 ) Reconciling items:                                 Non-deductible expenses     53,183       311,315       5,280       256,929   Share-based payments     92,867       222,771       56,467       47,373   Tax effect of tax exempt entity     294       390       54       63   Rate differential in different tax jurisdictions     (9,006 )     15,988       (5,678 )     7,410   Valuation allowance on deferred tax assets     165,595       386,675       95,805       183,938   Income tax benefit   $ -     $ (8,964 )   $ -     $ (4,482 )
SCHEDULE OF DEFERRED TAX ASSETS	SCHEDULE OF DEFERRED TAX ASSETS     February 28, 2023     August 31, 2022   Deferred tax assets:                 Net operating loss carryforwards                 – United States of America   $ (503,798 )   $ (500,564 ) – Taiwan     (776,741 )     (699,772 ) – PRC     (697,724 )     (600,648 ) – Hong Kong     -       -   Deferred tax assets: net operating loss carryforwards     -        -    Less: valuation allowance     1,978,263       1,800,984   Deferred tax assets, net of valuation allowance   $ -     $ -

v3.23.2

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Feb. 28, 2023
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF COMPONENTS OF LEASE COSTS, LEASE TERM AND DISCOUNT RATE	The components of lease costs, lease term and discount rate with respect of leases with an initial term of at least 12 months are as follows:   SCHEDULE OF COMPONENTS OF LEASE COSTS, LEASE TERM AND DISCOUNT RATE     For the six months ended       February 28, 2023     February 28, 2022                 Operating lease cost – classified as general and administrative expenses   $ 123,169     $ 176,635   Weighted Average Remaining Lease Term – Operating leases     1.20 years       1.43 years   Weighted Average Discounting Rate – Operating leases     5.42 %     5.42 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES	The following is a schedule, by years, of maturities of lease liabilities as of February 28, 2023:   SCHEDULE OF MATURITIES OF LEASE LIABILITIES     Operating leases   2023 (remaining period)   $ 49,100   2024     42,472   2025     6,300   2026     -   2027     -   Thereafter     -   Total undiscounted cash flows     97,872   Less: imputed interest     (3,097 ) Present value of lease liabilities   $ 94,775

v3.23.2

SCHEDULE OF SUBSIDIARIES OF COMPANY (Details)	6 Months Ended
	Feb. 28, 2023
Leader Financial Group Limited [Member]
Company name	Leader Financial Group Limited (“LFGL”)
Place and date of incorporation	Seychelles / March 6, 2017
Principal activities	Investment Holding
JFB Internet Service Limited [Member]
Company name	JFB Internet Service Limited (“JFB”)
Place and date of incorporation	Hong Kong / July 6, 2017
Principal activities	Provides an Investment Platform
LOC Weibo Co., Ltd. [Member]
Company name	LOC Weibo Co., Ltd. (“LOC”)
Place and date of incorporation	Republic of China/September 29, 2017
Principal activities	Development of ecological-systems applications, integration of big data and promotion of OTT applications
Beijing DataComm Cloud Media Technology Co., Ltd. [Member]
Company name	Beijing DataComm Cloud Media Technology Co., Ltd. (“BJDC”)
Place and date of incorporation	People’s Republic of China /April 16, 2013
Principal activities	Development of ecological-systems applications, integration of big data and promotion of OTT applications

v3.23.2

ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative) - Nice Products Inc [Member] - USD ($)		1 Months Ended
	Aug. 17, 2020	Aug. 31, 2020
Restructuring Cost and Reserve [Line Items]
Ownership percentage	100.00%
Acquisition aggregate purchase price	$ 4,850,000
Acquisition net purchase price	$ 3,506,042
Number of shares issuable in acquistion	8,415,111	8,415,111

v3.23.2

SCHEDULE OF REVENUE BY MAJOR PRODUCT LINE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 93,921	$ 7,631	$ 348,461	$ 22,436
Investment Platform Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,249	1,557	17,397	4,799
Software Development Serviceand Maintenance Service [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 85,672	$ 6,074	$ 331,064	$ 17,637

v3.23.2

SCHEDULE OF REVENUE BY RECOGNITION OVER TIME VS POINT IN TIME (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 93,921	$ 7,631	$ 348,461	$ 22,436
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue	93,921	7,631	348,461	22,436
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue

v3.23.2

SCHEDULE OF CONTRACT LIABILITIES (Details) - USD ($)	6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Accounting Policies [Abstract]
Balance as of September 1	$ 169,951	$ 16,225
Advances received from customers	211,734	2,677
Revenue recognized	(318,267)	(15,948)
Refund liability recognized	(13,019)
Exchange difference	(399)	(101)
Balance as of February 28	$ 50,000	$ 2,853

v3.23.2

SCHEDULE OF PLANT AND EQUIPMENT USEFUL LIVES (Details)	Feb. 28, 2023
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Plant and equipment useful lives	3 years
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Plant and equipment useful lives	3 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Plant and equipment useful lives	3 years

v3.23.2

SCHEDULE OF USEFUL LIVES OF COMPANY’S INTANGIBLE ASSETS (Details)	Feb. 28, 2023
Investment Platform [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	5 years
Technical Know Hows [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	8 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	10 years

v3.23.2

SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE (Details) - USD ($)		3 Months Ended			6 Months Ended
		Feb. 28, 2023		Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Accounting Policies [Abstract]
Net loss		$ (726,930)		$ (2,377,399)	$ (1,446,003)	$ (4,496,286)
Weighted average number of shares of common stock outstanding - Basic and diluted	[1]	202,304,158		170,033,710	201,084,637	165,431,246
Net loss per share - Basic and diluted		$ (0.00)	[2],[3]	$ (0.02)	$ (0.01)	$ (0.03)
[1] Including 4,522,262 shares granted and vested but not yet issued for the period ended February 28, 2023; and including 1,600,000 shares converted from convertible notes but not yet issued and 4,578,868 shares that were granted and vested but not yet issued for the period ended February 28, 2022. [2] Less than $0.01 [3] Less than $0.01 per share

v3.23.2

SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET LOSS PER SHARE (Details) (Parenthetical) - shares	6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Accounting Policies [Abstract]
Shares granted and vested but not yet issued	4,522,262	4,578,868
Convertible shares	1,600,000

v3.23.2

SCHEDULE OF FOREIGN CURRENCY TRANSLATION (Details)	Feb. 28, 2023	Aug. 31, 2022	Feb. 28, 2022
Period End N T [Member]
Offsetting Assets [Line Items]
Period average RMB : US$ 1 exchange rate	30.68	30.38
Period End R M B [Member]
Offsetting Assets [Line Items]
Period average RMB : US$ 1 exchange rate	6.95	6.89
Period Average N T [Member]
Offsetting Assets [Line Items]
Period average RMB : US$ 1 exchange rate	31.00		27.82
Period Average R M B [Member]
Offsetting Assets [Line Items]
Period average RMB : US$ 1 exchange rate	7.00		6.42

v3.23.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended		6 Months Ended				12 Months Ended
	Feb. 28, 2023 USD ($)	Feb. 28, 2022 USD ($)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 TWD ($)	Feb. 28, 2023 HKD ($)	Feb. 28, 2022 USD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Nov. 30, 2022 USD ($)	Nov. 30, 2021 USD ($)
Retained Earnings (Accumulated Deficit)	$ 36,367,167		$ 36,367,167				$ 34,921,164
[custom:WorkingCapitalDeficit-0]	2,782,280		2,782,280
Equity, Attributable to Parent	2,851,104	$ 328,135	2,851,104			$ 328,135	2,200,107	$ (314,255)	$ 2,313,474	$ 328,780
Goodwill impairment	0	0	0			0	1,747,945	$ 1,226,419
Software development costs	0		0			0
Revenue remaining performance obligations	50,000		50,000
Research and development expenses	110,410	114,896	216,688			261,179
Advertising expense	4,613	29,446	18,423			240,049
Liabilities unredeemed	80,338		80,338				$ 82,638
Impairment of long-lived assets	0	0	$ 0			0
Contribution rate of employer per month, percentage			6.00%	6.00%	6.00%
Salary contribution			$ 4,839	$ 150,000
Contributions made by the group			$ 192		$ 1,500
Income tax description			Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.	Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.	Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.
Uncertain tax positions, accrued interest or penalties	0		$ 0
TAIWAN
Employee benefit expenses	4,592	12,478	9,869			23,387
CHINA
Employee benefit expenses	30,145	31,559	58,050			62,771
HONG KONG
Employee benefit expenses	3,524	4,083	5,115			5,124
Selling and Marketing Expense [Member]
Redeemable liabilities	$ 1,450	$ 4,318	$ 1,477			$ 7,487

v3.23.2

SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - Nice Products Inc [Member]	Aug. 31, 2020 USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 185,117
Prepayments, deposits and other receivables	145,228
Due from a shareholder	34,048
Right-of-use operating lease assets	113,590
Plant and equipment, net	30,365
Intangible assets- Technical know-hows	818,200
Goodwill	2,974,364
Other payables and accrued liabilities	(383,087)
Contract liabilities	(2,896)
Due to shareholders	(99,730)
Operating lease liability	(113,646)
Tax payable	(31,871)
Deferred tax liabilities	(163,640)
Net purchase price	3,506,042
Accounts receivable	989,854
Notes payable	(3,066,617)
Aggregate fair values of the assets acquired and liabilities assumed	$ 1,429,279

v3.23.2

ACQUISITION OF SUBSIDIARIES (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 17, 2020	Aug. 31, 2020	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022	Aug. 31, 2022	Aug. 31, 2021
Business Acquisition [Line Items]
Goodwill impairment loss			$ 0	$ 0	$ 0	$ 0	$ 1,747,945	$ 1,226,419
Nice Products Inc [Member]
Business Acquisition [Line Items]
Acquisition aggregate purchase price	$ 4,850,000
Acquisition net purchase price	$ 3,506,042
Number of shares issuable in acquistion	8,415,111	8,415,111
Goodwill		$ 2,974,364

v3.23.2

SCHEDULE OF PLANT AND EQUIPMENT, NET (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Property, Plant and Equipment [Line Items]
Total	$ 196,437	$ 203,321
Less: Accumulated depreciation	(150,488)	(132,317)
Plant and Equipment, net	45,949	71,004
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total	30,340	30,494
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	83,466	89,858
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total	$ 82,631	$ 82,969

v3.23.2

PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Property, Plant and Equipment [Abstract]
Depreciation expenses	$ 11,040	$ 11,217	$ 22,116	$ 21,072

v3.23.2

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Total	$ 853,120	$ 853,120
Less: Accumulated amortization	(199,281)	(199,035)
Impairment	(649,781)	(649,781)
Intangible assets, net	4,058	4,304
Investment Platform [Member]
Finite-Lived Intangible Assets [Line Items]
Total	30,000	30,000
Technical Know Hows [Member]
Finite-Lived Intangible Assets [Line Items]
Total	818,200	818,200
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Total	$ 4,920	$ 4,920

v3.23.2

SCHEDULE OF AMORTIZATION EXPENSES RELATED TO INTANGIBLE ASSETS (Details)	Feb. 28, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining period)	$ 246
2024	492
2025	492
2026	492
2027	492
2028 and thereafter	1,844
Total	$ 4,058

v3.23.2

INTANGIBLE ASSETS, NET (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 123	$ 22,509	$ 246	$ 45,008
Impairment loss of intangible asset	$ 0	$ 0	$ 0	$ 0

v3.23.2

NON-MARKETABLE EQUITY SECURITIES (Details Narrative) - $ / shares	Aug. 05, 2022	Feb. 28, 2023	Aug. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
DFP Holdings Limited [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares of common stock	15,000,000
Common stock, par value	$ 0.0001
Common stock outstanding, percent		7.01%	7.06%

v3.23.2

SCHEDULE OF RELATED PARTY RELATIONSHIP (Details)	6 Months Ended
	Feb. 28, 2023
DFP Holdings Limited [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Note	[1]
Reblood Biotech Corp [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Note	[2]
Reblood Biotech Limited [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Note	[2]
Asia Pacific Integrating System Limited [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Note	[3]
Yi Hsiu Lin [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder and director of the Company
Jui Chin Chen [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Teh Ling Chen [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
CPN Investment Limited [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Kuo Hsun Hsu [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Chun Shuo Huang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Yu Cheng Tu [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Chin-Chiang Wang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Ching Nan Wang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Chin-Ping Wang [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
Shih Chu Lo [Member]
Related Party Transaction [Line Items]
Relationship with the Company	Shareholder of the Company
[1] As of February 28, 2023, the Company and Yi-Hsiu Lin held 7.01% and 7.01% of DFP’s outstanding common stock. DFP was also the shareholder of the Company. [2] Reblood Biotech Corp., a Nevada company, in which Yi-Hsiu Lin was the shareholder. Reblood Biotech Limited, a Hong Kong company, which was a subsidiary of Reblood Biotech Corp. [3] Asia Pacific Integrating System Limited, a Taiwanese company, wholly owned by Shih-Chu Lo, a shareholder of the Company, holding 100% equity interests as of February 28, 2023.

v3.23.2

SCHEDULE OF RELATED PARTY RELATIONSHIP (Details) (Parenthetical)	Feb. 28, 2023	Aug. 31, 2022
Shih Chu Lo [Member]
Related Party Transaction [Line Items]
Equity interests	100.00%
DFP Holdings Limited [Member]
Related Party Transaction [Line Items]
Common stock outstanding, percent	7.01%	7.06%
YiHsiu Liu [Member]
Related Party Transaction [Line Items]
Common stock outstanding, percent	7.01%

v3.23.2

SCHEDULE OF RELATED PARTY TRANSACTIONS (Details) - USD ($)		3 Months Ended		6 Months Ended
		Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Related Party Transaction [Line Items]
Interest expense		$ 30,937	$ 22,196	$ 61,601	$ 50,696
DFP Holdings Limited [Member]
Related Party Transaction [Line Items]
Provision of software development service	[1]	70,000		300,000
Provision of software maintenance service	[1]	15,673		31,065
Yu Cheng Tu [Member]
Related Party Transaction [Line Items]
Rental expense	[2]		4		3,239
Reblood Biotech Limited [Member]
Related Party Transaction [Line Items]
Rental expense	[3]	9,545	8,889	18,302	17,745
Teh Ling Chen [Member]
Related Party Transaction [Line Items]
Interest expense			3,000		6,000
CPN Investment Limited [Member]
Related Party Transaction [Line Items]
Interest expense	[4]
Chun Shuo Huang [Member]
Related Party Transaction [Line Items]
Interest expense		8,726		17,143
Ching Nan Wang One [Member]
Related Party Transaction [Line Items]
Interest expense		18,000	15,000	36,000	30,000
Jui Chin Chen [Member]
Related Party Transaction [Line Items]
Interest expense		1,200	1,500	2,400	3,000
Chin-Chiang Wang [Member]
Related Party Transaction [Line Items]
Interest expense		3,000	3,000	6,000	6,000
Chin-Ping Wang [Member]
Related Party Transaction [Line Items]
Interest expense			(165)		2,835
Ching Nan Wang Two [Member]
Related Party Transaction [Line Items]
Interest expense			$ (165)		$ 2,835
[1] The Company entered into a Customized App Development Agreement providing the online and offline learning opportunities across different subjects on January 27, 2022 with DFP. The Company delivered an app and provided the follow-up maintenance service since August 2022. For the six and three months ended February 28, 2023, software maintenance income of $31,065 and $15,673, respectively was generated from this customer. Both parties entered another software development agreement on March 31, 2022 and the Company delivered the app on January 16, 2023. For the six and three months ended February 28, 2023, revenue of $300,000 and $70,000, respectively was generated. [2] On September 1, 2020, LOC leased an office in Taichung, Taiwan from the Company’s shareholder- Yu-Cheng Tu. The lease was renewed on April 1, 2021 for additional one-year term and early terminated on October 31, 2021. The monthly lease was for the amount of NTD 45,000 ($1,617), with a term of one year. During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $3,239, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $nil and $4, respectively that are included in general and administrative expenses. [3] On June 1, 2021, JFB leased an office in Taipei, Taiwan from a company which was the subsidiary of Reblood Biotech Corp.. The monthly lease was for the amount of NTD 82,062 ($2,647), with a term of 16 months. On October 1, 2022, the lease was renewed for additional one year. The monthly rental was NTD 97,062 ($3,131). During the six months ended February 28, 2023 and 2022, the Company recognized rental expenses of $18,302 and $17,745, respectively that are included in general and administrative expenses. During the three months ended February 28, 2023 and 2022, the Company recognized rental expenses of $9,545 and $8,889, respectively that are included in general and administrative expenses. [4] The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. Interest of $nil was incurred for the six and three months ended February 28, 2023.

v3.23.2

SCHEDULE OF RELATED PARTY TRANSACTIONS (Details) (Parenthetical)							3 Months Ended		6 Months Ended
	Oct. 01, 2022 USD ($)	Oct. 01, 2022 TWD ($)	Jun. 01, 2021 USD ($)	Jun. 01, 2021 TWD ($)	Sep. 01, 2020 USD ($)	Sep. 01, 2020 TWD ($)	Feb. 28, 2023 USD ($)	Feb. 28, 2022 USD ($)	Feb. 28, 2023 USD ($)	Feb. 28, 2022 USD ($)	Nov. 03, 2022 USD ($)	Nov. 03, 2022 TWD ($)	Sep. 27, 2022 USD ($)
Related Party Transaction [Line Items]
Income from software maintenance							$ 15,673		$ 31,065
Revenues							70,000		300,000
Yu Cheng Tu [Member]
Related Party Transaction [Line Items]
Lease cost					$ 1,617	$ 45,000
Rental expense								$ 4		$ 3,239
CPN Investment Limited [Member]
Related Party Transaction [Line Items]
Loans payable							$ 73,400		$ 73,400				$ 62,000
Debt instrument stated percentage							6.00%		6.00%				6.00%
Interest incurred
Reblood Biotech Limited [Member]
Related Party Transaction [Line Items]
Lease cost	$ 3,131	$ 97,062	$ 2,647	$ 82,062
Hsu Kuo Hsuns [Member]
Related Party Transaction [Line Items]
Rental expense							$ 9,545	$ 8,889	$ 18,302	$ 17,745
Loans payable											$ 2,086	$ 64,000

v3.23.2

SCHEDULE OF RELATED PARTY BALANCES (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Related Party Transaction [Line Items]
Accrued interests payable to related parties	$ 32,580	$ 18,180
Related Party [Member]
Related Party Transaction [Line Items]
Contract liabilities due to related parties
DFP Holdings Limited [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Receivables from DFP	2,705	2,732
Contract liabilities due to related parties		150,000
Asia Pacific Integrating System Limited [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Contract liabilities due to related parties	50,000
Ching Nan Wang [Member]
Related Party Transaction [Line Items]
Accrued interests payable to related parties	20,935	2,935
Chun Shuo Huang [Member]
Related Party Transaction [Line Items]
Accrued interests payable to related parties	2,851	2,851
Jui Chin Chen [Member]
Related Party Transaction [Line Items]
Accrued interests payable to related parties	5,629	3,229
Chin-Chiang Wang [Member]
Related Party Transaction [Line Items]
Accrued interests payable to related parties	$ 3,165	$ 9,165

v3.23.2

RELATED PARTY TRANSACTIONS AND BALANCES (Details Narrative) - USD ($)	6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Aug. 31, 2022
Related Party Transaction [Line Items]
Repayments of Related Party Debt	$ 2,065
Related Party [Member]
Related Party Transaction [Line Items]
Other Liabilities
DFP Holdings Limited [Member]
Related Party Transaction [Line Items]
Repayments of Related Party Debt
DFP Holdings Limited [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Other Liabilities			$ 150,000

v3.23.2

SCHEDULE OF PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Prepayments Deposits And Other Receivables
Rental and management fee deposits	$ 50,952	$ 100,498
Other prepaid expenses	46,663	52,723
Other taxes recoverable	2,132	35,802
Prepayments, deposits and other receivables	99,747	189,023
Rental and management fee deposits	6,519	12,822
Prepayments, deposits and other receivables, non-current	6,519	12,822
Prepayments, deposits and other receivables, current	$ 93,228	$ 176,201

v3.23.2

SCHEDULE OF ACCRUED EXPENSES AND OTHER PAYABLES (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Payables and Accruals [Abstract]
Accrued interests (Note 7, 10 and 12)	$ 32,580	$ 18,180
Accrued payroll	244,805	150,932
Other accrued expenses	279,627	197,428
Other taxes payable	462	1,377
Refund liabilities	13,154
Point liabilities	80,338	82,638
Accrued expenses and other payables	$ 650,966	$ 450,555

v3.23.2

SCHEDULE OF DUE FROM (TO) SHAREHOLDERS AND DIRECTORS (Details) - USD ($)		Feb. 28, 2023	Aug. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total		$ (506,058)	$ (460,709)
Less: Other loans, non-current		200,000	200,000
Other loans current		(506,058)	(260,709)
Due from shareholders		2,086
Interest accrued		32,580	18,180
Jui Chin Chen [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Interest accrued		5,629	3,229
Chun Shuo Huang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Interest accrued		2,851	2,851
Chin-Chiang Wang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Interest accrued		3,165	9,165
CPN Investment Limited [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Interest accrued		0
Chen Jui-Chin [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Interest accrued		5,629	3,229
Shareholders [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total		(500,256)	(460,709)
Less: Other loans, non-current		200,000	200,000
Other loans current		(300,256)	(260,709)
Due to shareholders		(49,140)	(45,343)
Shareholders [Member] | Jui Chin Chen [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total	[1]	(80,000)	(80,000)
Shareholders [Member] | Chun Shuo Huang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total	[2]	(144,248)	(145,159)
Shareholders [Member] | Mei Ying Huang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total	[3]	(2,608)	(35,550)
Due to shareholders	[4]	(800)	(800)
Shareholders [Member] | Chin-Chiang Wang [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total	[5]	(200,000)	(200,000)
Shareholders [Member] | CPN Investment Limited [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Total	[6]	(73,400)
Shareholders [Member] | Yu Cheng Tu [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to shareholders	[4]	(41,377)	(42,472)
Shareholders [Member] | Hung Pin Cheng [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to shareholders	[4]	(5,363)	(471)
Shareholders [Member] | Shih Chu Lo [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to shareholders	[4]	(800)	(800)
Shareholders [Member] | Jun Yuan Chen [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to shareholders	[4]	(800)	(800)
Shareholders [Member] | Kuo Hsun Hsu [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due from shareholders	[7]	2,086
Director [Member] | Yi Hsiu Lin [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Due to shareholders	[4]	$ (1,159,788)	$ (973,564)
[1] The loan was modified from convertible note on March 23, 2022 and would be repayable in five installments before February 28, 2023 with 6% interest-bearing per annum. $20,000 was repaid by the Company as of February 28, 2023. On November 29, 2022, both parties entered into an amendment agreement to extend the payment time of the remaining loans and interests by November 30, 2023. For the six months ended February 28, 2023, interest of $2,400 and $3,000 were incurred respectively. For the three months ended February 28, 2023, interest of $1,200 and $1,500 were incurred respectively. Interest of $5,629 and $3,229 was accrued as of February 28, 2023 and August 31, 2022, respectively. [2] On February 28, 2022, the Company obtained a loan of RMB1,000,000 ($144,248) from Chun-Shuo Huang, which accrues interest at the rate of 8% per annum. The loan was due on May 27, 2022 and further extended to December 31, 2022 and accrued interest at the rate of 2% per month. The repayment was extended to June 30, 2023 as agreed by both parties. Interest of $17,143 and $nil respectively was incurred for the six months ended February 28, 2023 and 2022. Interest of $8,726 and $nil respectively was incurred for the three months ended February 28, 2023 and 2022. Interest of $2,851 was accrued as of February 28, 2023 and August 31, 2022. [3] The Company borrowed non-interest bearing loans in the aggregate amount of NTD4,000,000 ($130,378) from Huang Mei-Ying. The loan of NTD2,500,000 ($81,486) borrowed on November 24, 2021 was due on May 24, 2022 but further extended to December 31, 2022. The loan was fully repaid on October 25, 2022. The loan of NTD1,000,000 ($32,594) borrowed on January 12, 2022 was fully repaid on July 22, 2022. NTD420,000 ($13,690) was repaid for the remaining loan of NTD500,000 ($16,297) obtained on February 9, 2022 which would be repayable based on the Company’s financial ability. [4] Amounts due to shareholders and a director are unsecured, interest-free with no fixed payment term. [5] The loan was modified from convertible note on May 3, 2022 and would mature on November 25, 2024 with 6% interest-bearing per annum. For the six months ended February 28, 2023 and 2022, interest of $6,000 were incurred. For the three months ended February 28, 2023 and 2022, interest of $3,000 were incurred. Interest of $3,165 and $9,165 was accrued as of February 28, 2023 and August 31, 2022, respectively. [6] The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. No interest was accrued as of February 28, 2023. [7] NTD64,000 ($2,086) was paid for Hsu Kuo-Hsun’s quarter on November 3, 2022. The advance is non-interest bearing and would repayable on demand.

v3.23.2

SCHEDULE OF DUE FROM (TO) SHAREHOLDERS, DIRECTORS AND A RELATED COMPANY (Details) (Parenthetical)										3 Months Ended			6 Months Ended
		Sep. 27, 2022 USD ($)	May 03, 2022	Feb. 28, 2022 USD ($)	Feb. 28, 2022 CNY (¥)	Feb. 09, 2022 USD ($)	Feb. 09, 2022 TWD ($)	Nov. 24, 2021 USD ($)	Nov. 25, 2020	Feb. 28, 2023 USD ($)		Feb. 28, 2022 USD ($)	Feb. 28, 2023 USD ($)		Feb. 28, 2023 TWD ($)		Feb. 28, 2022 USD ($)	Feb. 28, 2023 TWD ($)		Dec. 31, 2022	Nov. 03, 2022 USD ($)	Nov. 03, 2022 TWD ($)	Aug. 31, 2022 USD ($)	Jan. 12, 2022 USD ($)	Jan. 12, 2022 TWD ($)	Nov. 24, 2021 TWD ($)	Mar. 18, 2020
Defined Benefit Plan Disclosure [Line Items]
Interest expense										$ 30,937		$ 22,196	$ 61,601				$ 50,696
Accrued interests payable to related parties										32,580			32,580										$ 18,180
Chun Shuo Huang [Member]
Defined Benefit Plan Disclosure [Line Items]
Proceeds from issuance of debt				$ 144,248	¥ 1,000,000
Interest rate				800.00%								800.00%					800.00%			200.00%
Interest expense										8,726			17,143
Accrued interests payable to related parties										2,851			2,851										2,851
Chen Jui-Chin [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate				6.00%								6.00%					6.00%
Interest expense										1,200		$ 1,500	$ 2,400				$ 3,000
Frequency of periodic payment													five		five
Repayment of loan													$ 20,000
Accrued interests payable to related parties										$ 5,629			$ 5,629										3,229
Chin-Chiang Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate			6.00%						6.00%	6.00%	[1]		6.00%	[1]				6.00%	[1]
Interest expense										$ 3,000		3,000	$ 6,000				6,000
Debt maturity date			Nov. 25, 2024						Nov. 25, 2022				Nov. 25, 2022	[1]	Nov. 25, 2022	[1]
Accrued interests payable to related parties										$ 3,165			$ 3,165										9,165
Huang Mei-Ying [Member]
Defined Benefit Plan Disclosure [Line Items]
Repayment of loan						$ 16,297	$ 500,000						$ 13,690		$ 420,000
Principal amount				$ 130,378								130,378					130,378	$ 4,000,000
Loan amount								$ 81,486																$ 32,594	$ 1,000,000	$ 2,500,000
Maturity date, description								due on May 24, 2022
Hsu Kuo Hsuns [Member]
Defined Benefit Plan Disclosure [Line Items]
Loan amount																					$ 2,086	$ 64,000
CPN Investment Limited [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate		6.00%								6.00%			6.00%					6.00%
Interest expense	[2]
Principal amount		$ 62,000
Loan amount		$ 62,000								$ 73,400			73,400
Debt term		1 year								1 year
Loan borrowed										$ 73,400
Accrued interests payable to related parties										$ 0			$ 0
Cpn Investment Limited One [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate		6.00%								6.00%			6.00%					6.00%
Jui Chin Chen [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest rate										6.00%	[3]		6.00%	[3]				6.00%	[3]								6.00%
Interest expense										$ 1,200		$ 1,500	$ 2,400				$ 3,000
Repayment of loan
Debt maturity date	[3]												Mar. 18, 2022		Mar. 18, 2022
Accrued interests payable to related parties										$ 5,629			$ 5,629										$ 3,229
[1] On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022. [2] The Company borrowed a principal amount of $62,000 on September 27, 2022 from a shareholder – CPN Investment Limited. The loan was 6% interest bearing payable on maturity and would be matured in one year. The loan was fully repaid on November 1, 2022. Further $73,400 was borrowed during the three months ended February 28, 2023. The loan was 6% interest bearing payable on maturity and would be matured in one year. Interest of $nil was incurred for the six and three months ended February 28, 2023. [3] On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen.

v3.23.2

SCHEDULE OF OTHER LOANS (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Other loans	$ 506,058	$ 460,709
Less: Other loans, non-current	(200,000)	(200,000)
Other loans, current	506,058	260,709
Nonrelated Party [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Other loans	5,802
Shareholders [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Other loans	500,256	460,709
Less: Other loans, non-current	(200,000)	(200,000)
Other loans, current	$ 300,256	$ 260,709

v3.23.2

OTHER LOANS (Details Narrative)			1 Months Ended
	Sep. 15, 2022 USD ($)	Sep. 15, 2022 TWD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 TWD ($)
Non-interest Bearing Loan [Member] | Non-related Company [Member]
Short-Term Debt [Line Items]
Proceeds from issuance of debt	$ 978	$ 30,000	$ 4,824	$ 148,000

v3.23.2

BONDS PAYABLE (Details Narrative) - USD ($)		2 Months Ended	3 Months Ended		6 Months Ended
	Aug. 14, 2019	Feb. 28, 2022	Feb. 28, 2023	Nov. 30, 2022	Feb. 28, 2023	Feb. 28, 2022	Aug. 31, 2022	Aug. 10, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Interest accrued			$ 32,580		$ 32,580		$ 18,180
DLP Holdings Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collateralized bonds				2,000,000
Reblood Biotech Corp [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collateralized bonds				1,000,000
Bond Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt instrument face amount	$ 600,000
Debt instrument term	3 years
Debt instrument, maturity date	Aug. 14, 2019
Interest rate	10.00%							12.00%
Debt instrument, description	The Company may exercise its right to repay this bond at any time on or before two years from the maturity date by wiring 100% of all outstanding principal and interest to the purchaser.
Interest expenses		$ 15,000	18,000		36,000	$ 30,000
Interest accrued			$ 20,935		$ 20,935		$ 2,935

v3.23.2

SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) - USD ($)				6 Months Ended
		May 03, 2022	Nov. 25, 2020	Feb. 28, 2023		Mar. 18, 2020
Defined Benefit Plan Disclosure [Line Items]
Principal amount				$ 900,000
Jui Chin Chen [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[1]			$ 100,000
Issue date	[1]			Mar. 18, 2020
Maturity date	[1]			Mar. 18, 2022
Interest rate				6.00%	[1]	6.00%
Teh Ling Chen One [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[2]			$ 100,000
Issue date	[2]			Nov. 02, 2020
Maturity date	[2]			Nov. 02, 2022
Interest rate	[2]			6.00%
Chin-Ping Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[3]			$ 200,000
Issue date	[3]			Nov. 25, 2020
Maturity date	[3]			Nov. 25, 2022
Interest rate	[3]			6.00%
Ching Nan Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[4]			$ 200,000
Issue date	[4]			Nov. 25, 2020
Maturity date	[4]			Nov. 25, 2022
Interest rate	[4]			6.00%
Chin-Chiang Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[4]			$ 200,000
Issue date	[4]			Nov. 25, 2020
Maturity date		Nov. 25, 2024	Nov. 25, 2022	Nov. 25, 2022	[4]
Interest rate		6.00%	6.00%	6.00%	[4]
Teh Ling Chen Two [Member]
Defined Benefit Plan Disclosure [Line Items]
Principal amount	[5]			$ 100,000
Issue date	[5]			Jan. 15, 2021
Maturity date	[5]			Jan. 15, 2023
Interest rate	[5]			6.00%
[1] On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen. [2] On November 2, 2020, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on November 2, 2022 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022. [3] On November 25, 2020, the Company issued a Note in the principal amount of $200,000, which accrues interest at the rate of 6% per annum, to a shareholder – Chin-Chiang Wang. The Note is due on November 25, 2022 and unsecured. On May 3, 2022, the Company entered into an amendment to the Note and the convertible promissory note purchase agreement with Chin-Chiang Wang, mutually agreed to extend the maturity date to November 25, 2024 and cancel the conversion option. The balance was classified as non-current 6% loan on the same date (Note 10(c)). [4] On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022. [5] On January 15, 2021, the Company issued a Note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Teh-Ling Chen. The note is due on January 15, 2023 and unsecured. On May 10, 2022, the Company entered into an amendment to the Note with the shareholder, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.10 per share. On May 12, 2022, the shareholder submitted conversion notice to the Company converting all of the outstanding balance of his Note into an aggregate of 1,000,000 shares of the Company’s common stock. The conversion was approved by the Company on May 17, 2022 and the shares were issued on May 19, 2022.

v3.23.2

SCHEDULE OF CONVERTIBLE NOTES PAYABLE (Details) (Parenthetical) - USD ($)							6 Months Ended
		May 12, 2022	May 03, 2022	Jan. 26, 2022	Nov. 25, 2020	Nov. 02, 2020	Feb. 28, 2023		May 10, 2022	Jan. 24, 2022	Jan. 15, 2021	Aug. 17, 2020	Mar. 18, 2020
Defined Benefit Plan Disclosure [Line Items]
Conversion price							$ 0.40					$ 0.40
Conversion of stock, shares converted							1,600,000
Jui Chin Chen [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible notes payable, noncurrent													$ 100,000
Interest rate							6.00%	[1]					6.00%
Debt instrument, maturity date	[1]						Mar. 18, 2022
Teh Ling Chen [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible notes payable, noncurrent						$ 100,000					$ 100,000
Interest rate											6.00%
Conversion price									$ 0.10
Debt instrument, maturity date						Nov. 02, 2022
Conversion of stock, shares converted		2,000,000
Teh Ling Chen [Member] | Shareholder [Member]
Defined Benefit Plan Disclosure [Line Items]
Conversion of stock, shares converted		1,000,000
Chin-Chiang Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible notes payable, noncurrent					$ 200,000
Interest rate			6.00%		6.00%		6.00%	[2]
Debt instrument, maturity date			Nov. 25, 2024		Nov. 25, 2022		Nov. 25, 2022	[2]
Chin Ping Wang And Chin Nan Wang [Member]
Defined Benefit Plan Disclosure [Line Items]
Convertible notes payable, noncurrent					$ 400,000
Interest rate					6.00%
Conversion price										$ 0.25
Debt instrument, maturity date					Nov. 25, 2022
Conversion of stock, shares converted				1,600,000
[1] On March 18, 2020, the Company issued an unsecured note in the principal amount of $100,000, which accrues interest at the rate of 6% per annum, to a shareholder – Jui-Chin Chen. On August 17, 2020, the Company amended the Note and the Agreement, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Note would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.40 per share. On March 23, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to cancel the conversion option and to repay the principal in two installments and accrued interest during that period before October 31, 2022. The balance was classified as 6% short-term loan on the same date (Note 10(b)). On May 29, 2022, the Company further amended the Note and the Agreement with the noteholder, mutually agreed to repay the principal and interests in five installments before November 30, 2022. It was later extended to November 30, 2023. Up to the date of this report, the Company repaid $nil to Jui-Chin Chen. [2] On November 25, 2020, the Company issued several Notes in the total principal amount of $400,000, which accrues interest at the rate of 6% per annum, to shareholders – Chin-Ping Wang and Ching-Nan Wang. The notes are due on November 25, 2022 and unsecured. On January 24, 2022, the Company entered into an amendment to the Notes with these two shareholders, wherein, at the sole option of the applicable noteholder, all or part of the unpaid outstanding principal of such noteholder’s Notes would be convertible into shares of restricted common stock of the Company at a conversion price equal to $0.25 per share. On January 26, 2022, the shareholders submitted conversion notices to the Company converting all of the outstanding balances of their Notes into an aggregate of 1,600,000 shares of the Company’s common stock. The conversion was approved by the Company on January 31, 2022 and the shares were issued on March 15, 2022.

v3.23.2

CONVERTIBLE NOTES PAYABLE TO RELATED PARTIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022	Aug. 17, 2020
Debt Instrument [Line Items]
Conversion price	$ 0.40		$ 0.40		$ 0.40
Principal outstanding increments			$ 10,000
Interest expenses	$ 30,937	$ 22,196	61,601	$ 50,696
Convertible Debt [Member]
Debt Instrument [Line Items]
Interest expenses		$ 7,170		$ 20,670
Convertible Promissory Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Convertible debt, fair value disclosures	$ 900,000		$ 900,000

v3.23.2

SCHEDULE OF INCOME/(LOSS) BEFORE INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Operating Loss Carryforwards [Line Items]
Loss before income tax	$ (726,930)	$ (2,381,881)	$ (1,446,003)	$ (4,505,250)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
- Local	(349,474)	(1,450,149)	(457,623)	(2,375,752)
SEYCHELLES
Operating Loss Carryforwards [Line Items]
Tax jurisdictions from foreign
VIRGIN ISLANDS, BRITISH
Operating Loss Carryforwards [Line Items]
Tax jurisdictions from foreign	(255)	(298)	(1,399)	(1,855)
TAIWAN
Operating Loss Carryforwards [Line Items]
Tax jurisdictions from foreign	(134,125)	(567,529)	(437,102)	(1,251,440)
CHINA
Operating Loss Carryforwards [Line Items]
Tax jurisdictions from foreign	(131,628)	(135,191)	(337,557)	(254,628)
HONG KONG
Operating Loss Carryforwards [Line Items]
Tax jurisdictions from foreign	$ (107,983)	$ (228,714)	$ (208,857)	$ (621,575)

v3.23.2

SCHEDULE OF COMPONENTS OF PROVISION BENEFIT FOR INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Income Tax Disclosure [Abstract]
Current
Deferred		(4,482)		(8,964)
Total income tax benefit		$ (4,482)		$ (8,964)

v3.23.2

SCHEDULE OF PROVISION FOR INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (726,930)	$ (2,381,881)	$ (1,446,003)	$ (4,505,250)
Statutory income tax rate	21.00%	21.00%	21.00%	21.00%
Income tax credit computed at statutory income rate	$ (151,928)	$ (400,195)	$ (302,933)	$ (946,103)
Non-deductible expenses	5,280	256,929	53,183	311,315
Share-based payments	56,467	47,373	92,867	222,771
Tax effect of tax exempt entity	54	63	294	390
Rate differential in different tax jurisdictions	(5,678)	7,410	(9,006)	15,988
Valuation allowance on deferred tax assets	95,805	183,938	165,595	386,675
Total income tax benefit		$ (4,482)		$ (8,964)

v3.23.2

SCHEDULE OF DEFERRED TAX ASSETS (Details) - USD ($)	Feb. 28, 2023	Aug. 31, 2022
Operating Loss Carryforwards [Line Items]
Less: valuation allowance	$ 1,978,263	$ 1,800,984
Deferred tax assets, net of valuation allowance
UNITED STATES
Operating Loss Carryforwards [Line Items]
Deferred tax assets: net operating loss carryforwards	(503,798)	(500,564)
TAIWAN
Operating Loss Carryforwards [Line Items]
Deferred tax assets: net operating loss carryforwards	(776,741)	(699,772)
Less: valuation allowance	697,724
CHINA
Operating Loss Carryforwards [Line Items]
Deferred tax assets: net operating loss carryforwards	(697,724)	(600,648)
HONG KONG
Operating Loss Carryforwards [Line Items]
Deferred tax assets: net operating loss carryforwards

v3.23.2

INCOME TAXES (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended
	Jan. 01, 2018	Feb. 28, 2023	Feb. 28, 2022	Feb. 28, 2023	Feb. 28, 2022	Aug. 31, 2022
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance		$ 1,978,263		$ 1,978,263		$ 1,800,984
Federal statutory income tax rate, percent		21.00%	21.00%	21.00%	21.00%
UNITED STATES
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		$ 2,399,038		$ 2,399,038
Operating Loss Carryforwards, Limitations on Use				The NOL carryforwards begin to expire in 2037
Deferred tax assets: Net operating loss carryforwards		503,798		$ 503,798		500,564
TAIWAN
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		3,883,706		3,883,706
Deferred tax assets: Net operating loss carryforwards		776,741		776,741		699,772
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	20.00%
Deferred Tax Assets, Valuation Allowance		697,724		697,724
CHINA
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards		2,790,898		2,790,898
Deferred tax assets: Net operating loss carryforwards		697,724		$ 697,724		600,648
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent				25.00%
HONG KONG
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards
Deferred tax assets: Net operating loss carryforwards
Federal statutory income tax rate, percent				16.50%

v3.23.2

COMMON STOCK (Details Narrative)																					1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended				16 Months Ended
	Feb. 28, 2023 USD ($) $ / shares shares	Nov. 02, 2022 USD ($)	Oct. 31, 2022 $ / shares shares	Oct. 05, 2022 shares	Oct. 01, 2022 USD ($) $ / shares shares	Sep. 01, 2022 USD ($) $ / shares	Jun. 17, 2022 shares	May 12, 2022 shares	Jan. 26, 2022 shares	Dec. 21, 2021 $ / shares shares	Sep. 01, 2021 USD ($) $ / shares shares	Sep. 01, 2021 TWD ($) shares	Sep. 01, 2021 CNY (¥) shares	May 17, 2021 $ / shares shares	Mar. 01, 2021 USD ($) $ / shares shares	Feb. 08, 2021 $ / shares shares	Nov. 01, 2020 USD ($) $ / shares shares	Aug. 17, 2020 shares	Aug. 01, 2020 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Feb. 28, 2023 USD ($) $ / shares	Feb. 28, 2023 CNY (¥)	Aug. 31, 2020 shares	Feb. 28, 2023 USD ($) $ / shares	Feb. 28, 2022 USD ($) shares	Feb. 28, 2023 USD ($) $ / shares shares	Feb. 28, 2022 USD ($) shares	Aug. 31, 2023 USD ($) $ / shares	Aug. 31, 2022 USD ($) $ / shares shares	Aug. 31, 2021 USD ($) $ / shares	Aug. 31, 2020 USD ($)	Aug. 31, 2021 USD ($) $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Restricted common stock, par value | $ / shares	$ 0.0001																				$ 0.0001			$ 0.0001		$ 0.0001			$ 0.0001
Conversion of stock, shares | shares																										1,600,000
Aggregate proceeds | $		$ 300,000																							$ 485,000	$ 300,000	$ 1,150,000
Unrecognized share-based compensation expense | $	$ 355,417																				$ 355,417			$ 355,417		$ 355,417
Granted to employees vested | shares																										4,522,262
Chin Ping Wang And Chin Nan Wang [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Conversion of stock, shares | shares									1,600,000
Teh Ling Chen [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | shares							500,576
Conversion of stock, shares | shares								2,000,000
Nice Products Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock acquisition | shares																		8,415,111					8,415,111
JFB Internet Service Limited [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | $																				$ 6,000,000
Share price | $ / shares																				$ 0.40
JFB Internet Service Limited [Member] | Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | shares																				5,000,000
JFB Internet Service Limited [Member] | Second Milestone [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reverse salary | $																													$ 348,627
JFB Internet Service Limited [Member] | Inducement Shares [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization | $																									33,084		242,481		$ 139,560	$ 1,622,940	$ 237,500
Number of shares issued | shares																													5,000,000
JFB Internet Service Limited [Member] | Inducement Shares [Member] | Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | shares																				5,000,000
Service Provider [Member] | JFB Internet Service Limited [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares vested | shares																													5,000,000
Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Annual compensation | $																			$ 66,000
Restricted stock award gross | shares																			1,000,000
Number of shares issued | $																			$ 400,000
Share price | $ / shares																			$ 0.40
Agreement term																			1 year
Compensation expenses | $																											$ 16,666
Securities Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share price | $ / shares			$ 0.30																										$ 0.12	$ 0.140		$ 0.140
Number of shares issued | shares			1,000,000																										19,170,000			37,157,535
Restricted common stock, par value | $ / shares			$ 0.0001
Issuance of common stock | $																													$ 2,290,000			$ 5,206,994
Securities Purchase Agreement [Member] | Accredited Investors [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued | shares																									10,000,000		10,000,000
Stock Forfeiture Letter [Member] | First Leader Capital Ltd. [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares forfeited and surrendered | shares														13,132,500		5,000,000
Restricted common stock, par value | $ / shares														$ 0.0001		$ 0.0001
Consultant Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Annual compensation | $					$ 25,000
Restricted stock award gross | shares					700,000
Share price | $ / shares					$ 0.10
Amortization | $																								8,750		$ 14,583
Share based compensation gross | shares					35,000
Yi Hsiu Lin [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Employment agreement term											2 years	2 years	2 years
Annual compensation | $											$ 120,000
Restricted stock award gross | shares											2,500,000	2,500,000	2,500,000
Number of shares issued | $																												$ 250,000	$ 250,000
Share price | $ / shares																												$ 0.10	$ 0.10
Amortization | $																								62,500	62,500	125,000	125,000
Mr. Cheng [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Employment agreement term											1 year	1 year	1 year
Annual compensation | $											$ 80,000
Restricted stock award gross | shares											1,500,000	1,500,000	1,500,000
Number of shares issued | $						$ 150,000					$ 150,000
Share price | $ / shares						$ 0.10					$ 0.10
Amortization | $																								37,500	37,500	75,000	75,000
Consultant [Member] | Consulting Agreement [Member] | Business Advisory Services [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Employment agreement term															1 year
Restricted stock award gross | shares															1,000,000
Share price | $ / shares															$ 0.10
Consultant fee | $															$ 60,000
Consultant [Member] | Consulting Agreement [Member] | Business Advisory Services Two [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization | $																									25,000	50,000
Consultant [Member] | Renewal of Consulting Agreement [Member] | Business Advisory Services [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | $															$ 100,000
Two Consultant [Member] | Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Restricted stock award gross | shares																	2,500,000
Number of shares issued | $																	$ 2,500,000
Share price | $ / shares																	$ 1.00
Amortization | $																											416,666
Agreement term																	1 year
Kuo Hsun Hsu [Member] | Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Annual compensation											$ 1,902	$ 60,000
Restricted stock award gross | shares											2,400,000	2,400,000	2,400,000
Number of shares issued | $																												$ 120,000	$ 120,000
Share price | $ / shares																												$ 0.10	$ 0.10
Amortization | $																								30,000	30,000	60,000	60,000
Number of shares issued | shares				1,200,000
Agreement term											2 years	2 years	2 years
Chien Chiao [Member] | Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Annual compensation											$ 2,385		¥ 17,000
Restricted stock award gross | shares											3,000,000	3,000,000	3,000,000
Number of shares issued | $																												$ 150,000	$ 150,000
Share price | $ / shares																												$ 0.10	$ 0.10
Amortization | $																								$ 37,500	37,500	$ 75,000	75,000
Agreement term											2 years	2 years	2 years
Senior Vice President [Member] | Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued | shares				1,500,000
Employees and Consultants [Member] | Non-Restricted Stock [Member] | 2021 Equity Incentive Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Restricted stock award gross | shares										9,550,850
Number of shares issued | $
Share price | $ / shares										$ 0.10
Ten Employees [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Annual compensation																					$ 36,930	¥ 258,500
Restricted stock award gross | shares	926,429
Share price | $ / shares	$ 0.10																				$ 0.10			$ 0.10		$ 0.10
Share based compensation gross | shares	92,642
Severance costs																					$ 129,572	¥ 907,000		$ 92,642		$ 92,642

v3.23.2

SCHEDULE OF COMPONENTS OF LEASE COSTS, LEASE TERM AND DISCOUNT RATE (Details) - USD ($)	6 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost - classified as general and administrative expenses	$ 123,169	$ 176,635
Weighted Average Remaining Lease Term - Operating leases	1 year 2 months 12 days	1 year 5 months 4 days
Weighted Average Discounting Rate - Operating leases	5.42%	5.42%

v3.23.2

SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details)	Feb. 28, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023 (remaining period)	$ 49,100
2024	42,472
2025	6,300
2026
2027
Thereafter
Total undiscounted cash flows	97,872
Less: imputed interest	(3,097)
Present value of lease liabilities	$ 94,775

v3.23.2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	3 Months Ended		6 Months Ended			12 Months Ended
	Feb. 28, 2023 USD ($) $ / shares	Feb. 28, 2022 USD ($)	Feb. 28, 2023 USD ($) $ / shares shares	Feb. 28, 2023 CNY (¥) shares	Feb. 28, 2022 USD ($)	Aug. 31, 2022 USD ($)
Product Liability Contingency [Line Items]
Payments for Rent	$ 64,964	$ 59,758	$ 130,646		$ 148,477
CHINA
Product Liability Contingency [Line Items]
Severance costs			72,000			$ 146,000
Annual compensation			$ 36,930	¥ 258,500
Restricted stock award gross | shares			926,429	926,429
Share based compensation gross | shares			92,642	92,642
Price per share | $ / shares	$ 0.10		$ 0.10
CHINA | Employee Severance [Member]
Product Liability Contingency [Line Items]
Severance costs			$ 129,572	¥ 907,000
TAIWAN
Product Liability Contingency [Line Items]
Severance costs			$ 40,000			$ 52,000

v3.23.2

SUBSEQUENT EVENTS (Details Narrative)					2 Months Ended		3 Months Ended	6 Months Ended		12 Months Ended	16 Months Ended
	Apr. 20, 2023 TWD ($) shares	Mar. 15, 2023 USD ($) $ / shares shares	Oct. 31, 2022 $ / shares shares	Oct. 01, 2022 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares	Feb. 28, 2022 USD ($) shares	Feb. 28, 2023 shares	Feb. 28, 2022 USD ($) shares	Aug. 31, 2022 USD ($) $ / shares shares	Aug. 31, 2021 USD ($) $ / shares shares	Jun. 05, 2023 USD ($)	Jun. 05, 2023 CNY (¥)	Apr. 26, 2023 USD ($)	Apr. 26, 2023 CNY (¥)	Mar. 15, 2023 TWD ($)
Subsequent Event [Line Items]
Value, issued for service | $
Securities Purchase Agreement [Member]
Subsequent Event [Line Items]
Common stock price, per share | $ / shares			$ 0.30							$ 0.12	$ 0.140
Shares issued in private placement, shares			1,000,000							19,170,000	37,157,535
Proceeds from issuance of common stock | $										$ 2,290,000	$ 5,206,994
Consultant Agreement [Member]
Subsequent Event [Line Items]
Restricted common stock, shares				700,000
Common stock price, per share | $ / shares				$ 0.10
Salaries wages and officers compensation | $				$ 25,000
Common Stock [Member]
Subsequent Event [Line Items]
Value, issued for service | $							$ 100		$ 100
Shares, issued for service									1,000,000
Shares issued in private placement, shares							4,850,000	2,000,000	9,010,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | Accredited Investors [Member]
Subsequent Event [Line Items]
Common stock price, per share | $ / shares					$ 0.05	$ 0.10
Shares issued in private placement, shares					4,030,000	5,000,000
Proceeds from issuance of common stock | $					$ 201,540	$ 500,000
Subsequent Event [Member] | Consultant Agreement [Member]
Subsequent Event [Line Items]
Salaries wages and officers compensation | $	$ 25,000
Employee benefits and share-based compensation	300,000
Subsequent Event [Member] | Chang Ming Lu [Member]
Subsequent Event [Line Items]
Debt instrument, face amount												$ 43,274	¥ 300,000	$ 100,974	¥ 700,000
Debt instrument, interest rate, stated percentage												5.00%	5.00%	5.00%	5.00%
Subsequent Event [Member] | Mr Chang [Member]
Subsequent Event [Line Items]
Agreement term		2 years
Value, issued for service | $		$ 20,000
Shares, issued for service		1,000,000
Restricted common stock, shares		1,000,000
Subsequent Event [Member] | Mr Chang [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Restricted common stock | $		$ 10,000
Common stock price, per share | $ / shares		$ 0.10
Shares issued in private placement, shares		1,000,000
Subsequent Event [Member] | LCHD [Member]
Subsequent Event [Line Items]
Overdue debt		$ 204,759														$ 6,300,000

---