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Consolidated Statements of Shareholders’ Equity/(Deficit) - USD ($)
$ in Thousands
Ordinary shares
Additional Paid in capital
Treasury stock
Statutory reserve
Accumulated deficit
Accumulated other comprehensive income (loss)
Meta Data Limited shareholders’ equity
Non- controlling interest
Total
Balance at Aug. 31, 2020 $ 6 $ 817,679 $ (40,110) $ 1,792 $ (735,341) $ 14,482 $ 58,508 $ 6,037 $ 64,545
Balance (in Shares) at Aug. 31, 2020 12,885,852,000                
Comprehensive loss (772,021) (1,002) (773,023) (4,788) (777,811)
Net income                 (777,892)
Appropriation of statutory reserves 643 643 643
Exercise of employee stock options   (47,037) 42,459 (4,578) (4,578)
Exercise of employee stock options (in Shares) 337,427,000                
Share-based compensation 6,635 6,635 6,635
Effect of change in reporting currency 48,982 (2,402) 108 (52,670) 866 (5,116) 362 (4,754)
Balance at Aug. 31, 2021 $ 6 826,259 (53) 2,543 (1,560,032) 14,346 (716,931) 1,611 (715,320)
Balance (in Shares) at Aug. 31, 2021 13,223,279,000                
Comprehensive loss (168,903) (7,806) (176,709) (5,286) (181,995)
Disposal of subsidiaries (1,683) (1,683) (1,683)
Capital contribution $ 8 28,492 28,500 28,500
Capital contribution (in Shares) 16,000,000,000                
Net income                 (174,189)
Exercise of employee stock options   (50) 50
Exercise of employee stock options (in Shares) 40,000                
Share-based compensation 44,539 44,539 44,539
Effect of change in reporting currency (2,214) (18) (250) 66,627 (19,684) 44,461 44 44,505
Balance at Aug. 31, 2022 $ 14 895,343 (21) 2,293 (1,662,308) (13,144) (777,823) (3,631) $ (781,454)
Balance (in Shares) at Aug. 31, 2022 29,223,319,000               29,200,000 [1]
Disposal of subsidiaries (19,465) (2,293) 21,758 13,144 13,144 3,631 $ 16,775
Issuance of ordinary shares and pre-funded warrants at private placement, net of issuance cost of $30,000 $ 63 74,907 74,970 74,970
Issuance of ordinary shares and pre-funded warrants at private placement, net of issuance cost of $30,000 (in Shares) 124,723,335,000                
Net income         694,495   694,495   694,495
Share-based compensation   8         8   8
Share-based compensation (in Shares) 1,669,000                
Balance at Aug. 31, 2023 $ 77 $ 950,793 $ (21)   $ (946,055)   $ 4,794   $ 4,794
Balance (in Shares) at Aug. 31, 2023 153,948,323,000               154,000,000 [1]
[1] On May 11, 2023, the shareholders of the Company approved the consolidation of its ordinary share at a ratio of one-for-five hundred (the “share consolidation”), effective on May 15, 2023. Upon effective of the share consolidation, the ratio for each ADS was changed to one (1) ADS to two (2) Class A ordinary shares. Immediately following the share consolidation, the authorized share capital of the Company, as approved by the shareholders, were changed from US$50,000 divided into 100,000,000 shares of a par value of US$0.0005 each, comprising of (i) 75,406,315 Class A Ordinary Shares of a par value of US$0.0005 each, (ii) 4,593,684 Class B Ordinary Shares of a par value of US$0.0005 each, and (iii) 20,000,000 shares of a par value of US$0.0005 each to be designated by the board of directors, to US$100,000 divided into 200,000,000 shares of a par value of US$0.0005 each, comprising of (i) 140,000,000 Class A ordinary shares of a par value of US$0.0005 each, (ii) 20,000,000 Class B ordinary shares of a par value of US$0.0005 each, and (iii) 40,000,000 shares of a par value of US$0.0005 each to be designated by the board of directors (the “increase of authorized shares”). 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.