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Trimol (TMOL) Inactive 10-Q13 Nov 152015 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2015	Nov. 13, 2015
Document Information [Line Items]
Entity Registrant Name	Trimol Group Inc.
Entity Central Index Key	1,011,733
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	TMOL
Entity Common Stock, Shares Outstanding		100,472,328
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,015

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 17,000	$ 10,000
TOTAL CURRENT ASSETS	17,000	10,000
TOTAL ASSETS	17,000	10,000
Current liabilities:
Related parties	6,746,000	6,565,000
Accrued expenses	695,000	856,000
TOTAL CURRENT LIABILITIES	$ 7,441,000	$ 7,421,000
SHAREHOLDERS’ DEFICIENCY:
Preferred Stock: $1.00 par value, 10,000 shares authorized, no shares issued and outstanding
Common Stock: $0.01 par value, 130,000,000 shares authorized, 100,472,328 shares issued and outstanding at September 30, 2015 and December 31, 2014	$ 1,005,000	$ 1,005,000
Additional paid-in capital	5,739,000	5,739,000
Accumulated deficit	(14,168,000)	(14,155,000)
TOTAL SHAREHOLDERS' DEFICIENCY	(7,424,000)	(7,411,000)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIENCY	$ 17,000	$ 10,000

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	10,000	10,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	130,000,000	130,000,000
Common stock, shares issued	100,472,328	100,472,328
Common stock, shares outstanding	100,472,328	100,472,328

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES	$ 0	$ 0	$ 0	$ 0
EXPENSES/(OTHER INCOME)
Operating expenses	92,000	40,000	195,000	123,000
Reversal of accrued debt obligations	(182,000)	0	(182,000)	0
TOTAL EXPENSES/(OTHER INCOME)	(90,000)	40,000	13,000	123,000
NET (LOSS) INCOME	$ 90,000	$ (40,000)	$ (13,000)	$ (123,000)
Net loss per share (basic and diluted) (in dollars per share)	$ 0	$ 0	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (in shares)	100,472,328	100,472,328	100,472,328	100,472,328

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,000)	$ (123,000)
ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH USED IN OPERATING ACTIVITIES:
Accrued expenses to related parties	45,000	45,000
Reversal of accrued debt obligations	(182,000)	0
CHANGES IN ASSETS AND LIABILITIES:
Accrued expenses	21,000	7,000
NET CASH USED IN OPERATING ACTIVITIES	(129,000)	(71,000)
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds of loans from related party	136,000	62,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	136,000	62,000
INCREASE (DECREASE) IN CASH	7,000	(9,000)
CASH - BEGINNING OF PERIOD	10,000	12,000
CASH - END OF PERIOD	$ 17,000	$ 3,000

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting [Text Block]	Note 1 - Basis of presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X relating to smaller reporting companies. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ended December 31, 2015 or any other period. The consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The accounting policies followed by the Company are set forth in Note 3 to the Company’s consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission (“SEC”).

GOING CONCERN

GOING CONCERN	9 Months Ended
GOING CONCERN	Sep. 30, 2015
Going Concern [Abstract]
Going Concern [Text Block]	NOTE 2 GOING CONCERN The accompanying unaudited consolidated interim financial statements have been prepared in conformity with GAAP, which contemplates the Company’s continuation as a going concern. As of September 30, 2015, the Company does not have any current operations that generate revenue and has not generated any revenue since the first quarter of 2006. Further, as shown on the accompanying consolidated balance sheet, the Company’s liabilities exceeded its assets by approximately $ 7,424,000

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	NOTE 3 SIGNIFICANT ACCOUNTING POLICIES The preparation of the unaudited consolidated interim financial statements in conformity with accounting principles generally accepted in the United States requires the Company to make assumptions, estimates and judgments that affect the amounts reported in these unaudited consolidated interim financial statements, including the notes thereto, and related disclosures of commitments and contingencies, if any. The Company relies on historical experience and on other assumptions believed to be reasonable under the circumstances in making required judgments and estimates. Actual results could differ materially from those estimates. The significant accounting policies which the Company believes are most critical to aid in fully understanding or evaluating its reported financial results are set forth in Note 3 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC and dated July 31, 2015

OPERATIONS

OPERATIONS	9 Months Ended
OPERATIONS	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	NOTE 4 OPERATIONS Although the Company is seeking business opportunities, as of September 30, 2015 it did not have any operations other than administrative operations, and has not generated any revenue since 2006.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
RELATED PARTY TRANSACTIONS AND BALANCES	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 5 - RELATED PARTY TRANSACTIONS AND BALANCES Nine Months Ended September 30, 2015 2014 Compensation to the Chief Executive Officer (1) $ 22,000 $ 22,000 Compensation to the Chief Financial Officer (2) 22,000 22,000 Cash advance from Royal HTM Group, Inc. (3) 136,000 62,000 $ 180,000 $ 106,000 1) Boris Birshtein serves as the Company’s Chairman of the Board of Directors and its Chief Executive Officer. Mr. Birshtein owns 50 2) Jack Braverman serves as a member of the Company’s Board of Directors and as the Company’s Chief Financial Officer. Mr. Braverman owns 50 3) Although it is under no obligation to do so, Royal HTM Group, Inc., a Canadian company owned by Messrs. Birshtein and Braverman, lends funds to the Company (and advances funds on its behalf) from time to time to cover the Company’s on-going expenses. Balances Amount due to Royal HTM Group, Inc. $ 4,052,000 Accrued compensation due to the Chief Financial Officer 540,000 Accrued compensation due to the Chief Executive Officer 2,154,000 $ 6,746,000 These amounts are non-interest bearing and due on demand.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 6 - SUBSEQUENT EVENTS The Company evaluated all events or transactions that occurred subsequent to September 30, 2015 up to the date these unaudited consolidated interim financial statements were issued and has determined that there are no material subsequent events or transactions which would require recognition or disclosure in the unaudited consolidated interim financial statements, other than as noted below. Anticipated Change in Control of the Company Boris Birshtein serves as the Company’s Chairman of the Board and its Chief Executive Officer and Jack Braverman serves as the Company’s Chief Financial Officer and is a member of its Board of Directors. Messer’s Birshtein and Braverman are the Company’s sole directors. Messrs. Birshtein and Braverman each hold a fifty percent (50%) ownership interest in Royal HTM Group, Inc. (“Royal HTM Group”), the Company’s majority shareholder which owns 69,275,000 million shares of the Company’s common stock, representing approximately sixty nine percent (69%) of the issued and outstanding shares of the Company’s common stock, and Mr. Birshtein owns 8,647,000 shares of the Company’s common stock. Royal HTM Group has advised the Company that it has negotiated substantially all of the terms of a Stock Purchase Agreement (“SPA”) with an independent party, which, if and when consummated, will result in the sale of all of the shares of the Company’s common stock owned by Royal HTM Group and Mr. Birshtein to such party. If and when such transaction is consummated, the party will acquire approximately 77.5% of the total issued and outstanding shares of the Company’s common stock, and a change in control will occur with respect to the Company’s capital stock ownership. The Company will not be a party to the SPA. There can be no assurances whether or when the SPA will be completed or if or when the transaction contemplated by the SPA will be consummated The Company will file the appropriate reports with the Securities and Exchange Commission if and when such transaction is effectuated.

RELATED PARTY TRANSACTIONS AN12

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	9 Months Ended
RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	Transactions Nine Months Ended September 30, 2015 2014 Compensation to the Chief Executive Officer (1) $ 22,000 $ 22,000 Compensation to the Chief Financial Officer (2) 22,000 22,000 Cash advance from Royal HTM Group, Inc. (3) 136,000 62,000 $ 180,000 $ 106,000 1) Boris Birshtein serves as the Company’s Chairman of the Board of Directors and its Chief Executive Officer. Mr. Birshtein owns 50 2) Jack Braverman serves as a member of the Company’s Board of Directors and as the Company’s Chief Financial Officer. Mr. Braverman owns 50 3) Although it is under no obligation to do so, Royal HTM Group, Inc., a Canadian company owned by Messrs. Birshtein and Braverman, lends funds to the Company (and advances funds on its behalf) from time to time to cover the Company’s on-going expenses.
Schedule of Related Party Payables [Table Text Block]	As of September 30, 2015 payables to related parties consist of the following: Amount due to Royal HTM Group, Inc. $ 4,052,000 Accrued compensation due to the Chief Financial Officer 540,000 Accrued compensation due to the Chief Executive Officer 2,154,000 $ 6,746,000

GOING CONCERN (Details Textual)

GOING CONCERN (Details Textual)	Sep. 30, 2015USD ($)
GOING CONCERN [Line Items]
Working Capital Deficit	$ 7,424,000

RELATED PARTY TRANSACTIONS AN14

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)		9 Months Ended
RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)		Sep. 30, 2015	Sep. 30, 2014
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party		$ 180,000	$ 106,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	[1]	22,000	22,000
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	[2]	22,000	22,000
Royal HTM Group Inc [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	[3]	$ 136,000	$ 62,000

[1]	Boris Birshtein serves as the Company's Chairman of the Board of Directors and its Chief Executive Officer. Mr. Birshtein owns 50% of Royal HTM Group, Inc., the Company's majority shareholder.
[2]	Jack Braverman serves as a member of the Company’s Board of Directors and as the Company’s Chief Financial Officer. Mr. Braverman owns 50% of Royal HTM Group, Inc., the Company's majority shareholder.
[3]	Although it is under no obligation to do so, Royal HTM Group, Inc., a Canadian company owned by Messrs. Birshtein and Braverman, lends funds to the Company (and advances funds on its behalf) from time to time to cover the Company's on-going expenses.

RELATED PARTY TRANSACTIONS AN15

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Payables to related parties	$ 6,746,000	$ 6,565,000
Royal HTM Group Inc [Member]
Related Party Transaction [Line Items]
Payables to related parties	4,052,000
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Payables to related parties	540,000
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Payables to related parties	$ 2,154,000

RELATED PARTY TRANSACTIONS AN16

RELATED PARTY TRANSACTIONS AND BALANCES (Details Textual)	Sep. 30, 2015
Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Chief Financial Officer [Member]
Related Party Transaction [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) shares in Millions	9 Months Ended
SUBSEQUENT EVENTS (Details Textual) shares in Millions	Sep. 30, 2015shares
Royal Htm Group Inc [Member]
Number of Shares Hold By Majority Shareholders	8,647,000
Messer's Birshtein [Member] \| Royal Htm Group Inc [Member]
Equity Method Investment, Ownership Percentage	50.00%
Jack Braverman [Member]
Subsequent Event, Description	Royal HTM Group has advised the Company that it has negotiated substantially all of the terms of a Stock Purchase Agreement (“SPA”) with an independent party, which, if and when consummated, will result in the sale of all of the shares of the Company’s common stock owned by Royal HTM Group and Mr. Birshtein to such party. If and when such transaction is consummated, the party will acquire approximately 77.5% of the total issued and outstanding shares of the Company’s common stock, and a change in control will occur with respect to the Company’s capital stock ownership. The Company will not be a party to the SPA.
Jack Braverman [Member] \| Royal Htm Group Inc [Member]
Equity Method Investment, Ownership Percentage	50.00%
Messrs. Birshtein and Braverman [Member] \| Royal Htm Group Inc [Member]
Number of Shares Hold By Majority Shareholders	69,275,000
Equity Method Investment, Ownership Percentage	69.00%

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