Condensed Financial Information of the Company (Tables)

12 Months Ended

Aug. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

The following is the condensed financial information of the Company on a parent company only basis.

	As of			As of
	August 31,			August 31,
	2023			2022
	$			$
ASSETS
Current assets:
Cash		-		$	219
Short-term investments		-			2,055
Prepaid expenses		8			-
Amounts due from subsidiaries		100,271			-
Total current assets		100,279			2,274
Non-current assets:
Right-of-use assets, net		24			-
Investment in subsidiaries		15,822			-
Total non-current assets		15,846			-
Total assets	$	116,125		$	2,274
Liabilities and Shareholders’ Equity
Current liabilities:
Short-term loans		-		$	220
Loans payable to third parties - current		1,500			4,500
Interest payable		11,927			8,258
Accrued expenses		628			-
Operating lease liabilities - current		24			-
Convertible Senior Notes		35,000			-
Long-term loan, current portion		61,240			61,240
Total current liabilities		110,319			74,218
Non-current liabilities:
Operating lease liabilities - non-current		12			-
Loans payable to third parties - non-current		1,000			-
Loss in excess of investments in subsidiaries, VIEs and VIEs’ subsidiaries		-			670,787
Convertible Senior Notes		-			35,000
Total non-current liabilities		1,012			705,787
Total liabilities	$	111,331		$	780,005
Commitments and contingencies
Shareholders’ equity
Class A ordinary shares ($0.0005 par value; 80 million and 180 million ordinary shares authorized as of August 31, 2022 and 2023, respectively; 29.2 million issued and outstanding as of August 31, 2022 and 154 million issued and outstanding as of August 31, 2023, respectively) 1	$	77		$	14
Additional paid-in capital		950,772			895,322
Statutory reserves		-			2,385
Accumulated deficits		(946,055	)		(1,662,308	)
Accumulated other comprehensive income		-			(13,144	)
Total shareholders’ equity		4,794			(777,731	)
Total liabilities and shareholders’ equity	$	116,125		$	2,274

1. On May 11, 2023, the Company executed reverse share split its ordinary shares at the ratio of one-for-five hundred, immediately following the reverse share split, the total authorized share capital of the Company be increased from $50,000 divided into 0.1 billion ordinary shares of $0.0005 par value each to $100,000 divided into 0.2 billion ordinary shares of $0.0005 par value each. The authorized Class A ordinary shares had been retrospectively adjusted from 40 billion Class A ordinary shares to 80 million Class A ordinary shares at August 31, 2022. The issued and outstanding ordinary shares had been retrospectively adjusted from 14.6 billion ordinary shares to 29.2 million ordinary shares at August 31, 2022.

Schedule of Condensed Statements of Income/(loss) ​

	For the years ended August 31,
	2023			2022			2021
	$			$			$
Operating expenses:
Selling and marketing		-			-		$	(17	)
General and administrative		(1,462	)		(53,375	)		(9,673	)
Interest income		1			1			879
Interest expense		3,634			(7,396	)		(7,946	)
Foreign exchange gain/(loss)		-			3			(256	)
Other expenses		(2	)		-			-
Net income on disposition of discontinued operations		686,276			-			-
Share of income (loss) in subsidiaries, VIEs and VIEs’ subsidiaries		6,048			(108,136	)		(755,008	)
Net income (loss) attributable to ordinary shareholders of Meta Data Limited	$	694,495		$	(168,903	)	$	(772,021	)
Net income (loss)	$	694,495		$	(168,903	)	$	(772,021	)
Unrealized loss on available-for-sale investments, net of tax		-			-			(1,810	)
Foreign currency translation adjustment		-			(7,806	)		808
Comprehensive income (loss)	$	694,495		$	(176,709	)	$	(773,023	)

Schedule of Condensed Statements of Cash Flows

	For the years ended August 31,
	2023			2022			2021
	$			$			$
Net cash used in operating activities	$	(77,889	)	$	(36,729	)	$	(8,364	)
Net cash provided by investing activities		1,000			8,559			33,900
Net cash provided by (used in) financing activities		76,670			30,680			(80,662	)
Effect of exchange rate changes		-			3,338			17,022
Net decrease in cash		(219	)		(5,848	)		(38,104	)
Cash, at beginning of year		219			6,067			44,171
Cash, at end of year		-		$	219		$	6,067