Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.21.2
Discontinued Operations (Tables)
9 Months Ended
May 31, 2021
Discontinued Operations And Disposal Groups Abstract  
Schedule of gain on assest disposal

Gain on asset disposal

 

 

 

Book value of assets sold

 

$ -

 

Cash consideration

 

 

273,373

 

Shares received

 

 

468,264

 

Shares receivable

 

 

781,067

 

Promissory note

 

 

-

 

 

 

$ 1,522,704

 

Schedule of income loss of discontinued operation

 

 

NINE MONTHS ENDED

 

 

 

May 31

 

 

May 31

 

 

 

2021

 

 

2020

 

Cash flows used in discontinued operating activities

 

 

 

 

 

 

Net income (loss)

 

$ (22,000

 

$ 83,795

 

Change in working capital

 

 

105,000

 

 

(85,670 )

Net cash used in discontinued operating activities

 

$ 83,000

 

$ (1,875 )

 

 

 

 

 

 

 

 

 

Net cash provided by (used in) discontinued operations

 

 

83,000

 

$ (1,875 )

 

 

The following table presents the aggregate carrying amounts of the classes of assets and liabilities of discontinued operations of the assets:

 

 

 

May 31

 

 

August 31

 

 

 

2021

 

 

2020

 

Current Assets

 

 

 

 

 

 

Accounts receivable

 

$ -

 

 

$ 105,250

 

Total assets classified as discontinued operations in the consolidated balance sheet

 

 

-

 

 

 

105,250

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

 

 

Accounts payable

 

 

-

 

 

 

250

 

Total liabilities classified as discontinued operations in the consolidated balance sheet

 

$ -

 

 

$ 250

 

Schedule of assest sold

 

 

 NINE MONTHS ENDED

 

 

 

 May 31

 

 

 May 31

 

 

 

2021

 

 

2020

 

Revenue

 

$ 3,000

 

 

$ 114,750

 

Operating expenses

 

 

(25,000

 

 

(30,795

Net income (loss)

 

$ (22,000 )

 

$ 83,795