Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 12, 2019 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Heyu Biological Technology Corp | |
Entity Central Index Key | 0001086303 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 1,032,466,000 | |
Entity File Number | 000-26731 | |
Entity Interactive Data Current | Yes | |
Entity Incorporation State Country Code | NV |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |
Current Assets | |||
Cash and cash equivalents | $ 452,318 | $ 37,555 | |
Other receivables | 24,566 | 21,324 | |
Advances to suppliers | 81,431 | ||
Inventory | 311,134 | ||
Total current assets | 869,449 | 58,879 | |
Non-current Assets | |||
Operating lease right-of-use asset | 209,587 | ||
Total non-current assets | 209,587 | ||
Total Assets | 1,079,036 | 58,879 | |
Current Liabilities | |||
Accounts payable and accrued expenses | 111,718 | 16,628 | |
Advances from customers | [1] | 420,406 | |
Income tax and other taxes payable | 22 | 23 | |
Operating lease liability - current portion | 66,473 | ||
Related party payables | 957,409 | 279,464 | |
Total current liabilities | 1,556,028 | 296,115 | |
Noncurrent liabilities | |||
Operating lease liability | 143,325 | ||
Total noncurrent liabilities | 143,325 | ||
Total Liabilities | 1,699,353 | 296,115 | |
Stockholders' Deficit | |||
Common stock ($0.001 par value, 2,000,000,000 shares authorized, 1,032,466,000 and 1,141,472,861 shares issued and outstanding respectively as of September 30, 2019 and December 31, 2018, respectively) | 1,032,466 | 1,141,473 | |
Shares to be cancelled | (109,007) | ||
Additional paid-in capital | 17,149,050 | 17,149,050 | |
Accumulated other comprehensive income | 16,945 | 2,567 | |
Accumulated deficit | (18,778,535) | (18,421,319) | |
Stockholders' equity - HYBT and Subsidiaries | (580,074) | (237,236) | |
Noncontrolling interests in subsidiaries | (40,243) | ||
Total stockholders' deficit | (620,317) | (237,236) | |
Total Liabilities and Stockholders' Deficit | $ 1,079,036 | $ 58,879 | |
[1] | On October 15 2019, JSEL entered into a clinical cooperation agreement (the "Clinical Cooperation Agreement") with Shenzhen Saikun Biotechnology Co., Ltd. ("Saikun"). Pursuant to the Clinical Cooperation Agreement, Saikun agreed to pay JSEL 5.5 million RMB as the total preordering payment. 1.5 million RMB and 1.5 million RMB were delivered to JSEL respectively on September 7 and September 27, 2019. The parties are working on the timing for payment of the remaining 2.5 million RMB due under the Clinical Cooperation Agreement. In exchange, JSEL is obligated to purchase all the components of a Chamber from Kangzi, fully assemble it, and conduct a clinical trial with Saikun, third-party hospital partners, and patients using the Chamber. Specifically, after receiving the full amount of payment from Saikun, JSEL shall transport the Chamber to its preferred location, properly install it, and conduct a clinical trial that lasts at least one month. |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 1,032,466,000 | 1,141,472,861 |
Common stock, shares outstanding | 1,032,466,000 | 1,141,472,861 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Income Statement [Abstract] | ||||
Revenue, net | $ 7,387 | $ 57,317 | ||
Cost of Revenue | 3,666 | 31,938 | ||
Gross Profit | 3,721 | 25,379 | ||
Operating expenses | ||||
Selling expenses | 5,992 | 7,377 | ||
Administrative expenses | 202,505 | 125,957 | 412,207 | |
Total operating expenses | 208,497 | 125,957 | 419,584 | 147,797 |
Loss on operations | (204,776) | (125,957) | (394,205) | (147,797) |
Other Income(Expenses) | (370) | (1,708) | ||
Loss on operations before income taxes | (205,146) | (125,957) | (395,913) | (147,797) |
Income tax expense | ||||
Net Loss | (205,146) | (125,957) | (395,913) | (147,797) |
Loss attributable to noncontrolling interests | (20,455) | (38,697) | ||
Net loss attributable to HYBT shareholders | (184,691) | (125,957) | (357,216) | (147,797) |
Other Comprehensive Income | ||||
Foreign currency translation adjustment | 12,506 | 15,924 | ||
Total Comprehensive Loss | (172,185) | (125,957) | (341,292) | (147,797) |
Total comprehensive income attributable to noncontrolling interests | (1,320) | (1,546) | ||
Total comprehensive loss attributable to HYBT shareholders | $ (173,505) | $ (125,957) | $ (342,838) | $ (147,797) |
Net loss per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares - basic and diluted | 1,019,289,346 | 1,032,266,000 | 1,660,239,731 | 636,661,604 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Stockholders’ Deficit (Unaudited) - USD ($) | Heyu Biological Shareholders’ EquityCommon Stock | Heyu Biological Shareholders’ EquityShares to be cancelled | Heyu Biological Shareholders’ EquityAdditional Paid in Capital | Heyu Biological Shareholders’ EquityAccumulated Other Comprehensive Income | Heyu Biological Shareholders’ EquityAccumulated Deficit | Non - controlling Interest | Total |
Balance at Dec. 31, 2017 | $ 150,642 | $ 17,968,787 | $ (18,173,542) | $ (54,113) | |||
Balance, shares at Dec. 31, 2017 | 150,642,240 | ||||||
1 for 464 reverse split | $ (150,318) | 150,318 | |||||
1 for 464 reverse split, shares | (150,317,580) | ||||||
1 for 100 split | $ 32,141 | (32,141) | |||||
1 for 100 split, shares | 32,141,340 | ||||||
Common stock issued April 13, 2018 | $ 1,000,000 | (990,000) | 10,000 | ||||
Common stock issued April 13, 2018, shares | 1,000,000,000 | ||||||
Waiver of payable to ex-shareholder | 52,087 | 52,087 | |||||
Loss for the period | (147,797) | (147,797) | |||||
Balance at Sep. 30, 2018 | $ 1,032,466 | 17,149,050 | (18,321,339) | (139,823) | |||
Balance, shares at Sep. 30, 2018 | 1,032,466,000 | ||||||
Balance at Dec. 31, 2018 | $ 1,141,473 | (109,007) | 17,149,050 | 2,567 | (18,421,319) | (237,236) | |
Balance, shares at Dec. 31, 2018 | 1,141,472,861 | ||||||
Shares cancelled March 20, 2019 | $ (109,007) | 109,007 | |||||
Shares cancelled March 20, 2019, shares | (109,006,861) | ||||||
Foreign currency translation adjustment | 14,378 | (1,546) | 12,832 | ||||
Loss for the period | (357,216) | (38,697) | (357,216) | ||||
Balance at Sep. 30, 2019 | $ 1,032,466 | $ 17,149,050 | $ 16,945 | $ (18,778,535) | $ (40,243) | $ (620,317) | |
Balance, shares at Sep. 30, 2019 | 1,032,466,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Loss | $ (395,913) | $ (147,797) |
Change in assets and liabilities | ||
Other receivables | (3,242) | |
Advances to suppliers | (81,431) | |
Inventory | (311,134) | |
Operating lease right-of-use asset | (209,587) | |
Accounts payable and accrued liabilities | 95,090 | (9,677) |
Advances from customers | 420,406 | |
Income tax and other taxes payable | (1) | |
Lease liability | 209,798 | |
Net cash used from operating activities | (276,014) | (157,474) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from related party lending | 677,945 | 157,474 |
Net cash used in financing activities | 677,945 | 157,474 |
Effect of exchange rate changes on cash | 12,832 | |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 414,763 | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 37,555 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 452,318 | |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Cash paid for interest | ||
Cash paid for income tax | ||
Non-cash activities | ||
Shares issued for repayment of debt | 10,000 | |
Related party forgiveness of debt | $ 52,087 |
The Company and Significant Acc
The Company and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 – THE COMPANY AND SIGNIFICANT ACCOUNTING POLICIES Heyu Biological Technology Corporation (the "Company") was incorporated in the state of Nevada on May 18, 1987, as Asphalt Associates, Inc. and changed its name to Pacific WebWorks in January 1999. From 1999 to 2016 the Company engaged in the development and distribution of web tools software, electronic business storefront hosting, and Internet payment systems for individuals and small to mid-sized businesses. On February 23, 2016, the Company filed a voluntary petition for bankruptcy in the U.S. Bankruptcy Court for the District of Utah, and soon afterwards ceased its business activities. On August 19, 2016 the Company proposed a Plan of Liquidation and on November 28, 2016, the Court entered an order confirming the Plan of Liquidation and establishing a Liquidating Trust. On December 28, 2016, all assets and liabilities of the Company were transferred to the Liquidating Trust. On April 18, 2018, the Company entered into a Share Purchase Agreement with Mr. Ban Siong Ang and Mr. Dan Masters, pursuant to which Mr. Ang acquired 1,021,051,700 shares, representing 98.91% of the issued and outstanding shares of common stock of the Company ("Common Stock") from Mr. Masters for an aggregate purchase price of $335,000 (the "Share Purchase"). As a result of the Share Purchase Agreement, the Company accepted the resignation of Dan Masters, as the Company's President, Chief Executive Officer, Chief Financial Officer, Secretary and Chairman of the Board. This resignation was given in connection with the closing of the Share Purchase and was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Additionally, all debt due to Mr. Masters from the Company was cancelled as of the closing of the Share Purchase and recognized as contributed capital. On April 18, 2018, to fill the vacancies created by Mr. Masters's resignations, Ban Siong Ang and Hung Seng Tan were elected as the directors of the Company. Mr. Ang was appointed as President, Chief Executive Officer, and Chairman of the Board. Mr. Tan was appointed as Executive Director of the Company. Ms. Wendy Wei Li was appointed as Chief Financial Officer. On July 3, 2018, the Company changed its name to Heyu Biological Technology Corporation, with a new ticker symbol, HYBT. During 2018, the Company established the following subsidiaries: (1) HP Technology Limited, a British Virgin Islands business company incorporated on September 20, 2018 and (2) Heyu Healthcare Technology Limited, a Hong Kong company incorporated on March 29, 2018. Further, on November 5, 2018, the Company acquired the following subsidiary: Jiashierle (Xiamen) Healthcare Technology Co., Ltd. ("JSEL"), a limited liability company incorporated under the laws of the People's Republic of China (the "PRC") on November 16, 2017. On January 17, 2019, JSEL entered into a Share Transfer Agreement (the "Share Transfer Agreement") with Mr. Yu Xu ("Mr. Xu"), an individual with an address at No. 68 Chengde South Road, Qingpu District, Huaian City, Jiangsu Province, the PRC, and who owned 90% of the equity interests of Shanghai Kangzi Medical Technology Co., Ltd., a limited liability company organized under the laws of the PRC ("Kangzi"). JSEL received 60% of the outstanding equity interest of Kangzi from Mr. Xu for the purpose of developing a joint venture in the business of selling medical equipment. It was the parties' intention that JSEL would fund the operations of Kangzi in proportion to its equity interest in Kangzi. At the time of the share transfer, Kangzi owned no assets and conducted no business operation of its own. In March 2019, the Company entered into a Raspberry Purchase Agreement and a Raspberry Juice Processing Agreement with Luoyang Ditiantai Agricultural Development Co., Ltd. ("Ditiantai"). Pursuant to these two agreements, the Company purchased six tons of raspberry from Ditiantai, which were processed by Ditiantai into raspberry juice and delivered to the Company. The Company then sold the raspberry juice to a corporate buyer and five individual buyers. The Company, however, does not plan to engage in the business of selling raspberry juice in the long term. Since the beginning of 2019, Mr. Xu has led the core research and development team of Kangzi to develop and manufacture a new medical product, the Submillimeter Wave (Terahertz) Quantized Space Therapy Chamber (the "Chamber"). Utilizing submillimeter waves, the Chamber is a medical equipment designed to treat cancer through cold nuclear fusion caused by cosmic ray muons in an enclosed chamber. Specifically, we believe that exposure to an appropriate amount of submillimeter waves could accelerate the generation of a large number of cosmic ray muons inside the human body and that such cosmic ray muons could further facilitate cold nuclear fusion, which could reverse the cancering process through which selenium is converted into nickel inside cells. The team consists of researchers whom have years of extensive experience in medicine and physics. The lead scientist of the team, Mr. Xu, had served as the deputy chief engineer of the New Energy Base of the National Defense-Science and Technology Commission in 1995, as the chairman and chief scientist of Shanghai Guangcon New Energy Technology Co., Ltd. from 2011 to 2019, and the director of Shanghai Hengbian New Energy Research Institute from 2003 to 2008. In 2012, Mr. Xu was rewarded the "Harmony-Person of the Year in China" at the "2011 Harmony China Annual Summit" in Beijing and recognized as "Leaping China: One of the Most Influential People of the Year in 2011" by China International Economic and Technical Cooperation Promotion Association, China Elite Culture Promotion Association, and China Outstanding Chinese Merchants Association. In 2013, the Organizing Committee of Boau Forum on Asian SME Development awarded Mr. Xu "2013 China Economic Outstanding Contribution Award." Pursuant to the terms of the Share Transfer Agreement entered into by JSEL and Kangzi on January 17, 2019, JSEL has the right to monitor and manage all aspects of operation of Kangzi, including its research and development activities relating to the Chamber. As the development of the Chamber enters its final stage at Kangzi, JSEL started accepting pre-orders for the Chamber in September. Basis of Presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements of the Company as of and for the three and nine months ended September 30, 2019 and 2018 are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) that have been made are necessary to fairly present the financial position of the Company as of September 30, 2019, the results of its operations for the three and nine months ended September 30, 2019 and 2018, and its cash flows for the nine months ended September 30, 2019 and 2018. Operating results for the interim periods presented are not necessarily indicative of the results to be expected for a full fiscal year. The balance sheet as of December 31, 2018 has been derived from the Company's audited financial statements included in the Form 10-K for the year ended December 31, 2018. The statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and other information included in the Company's Annual Report on Form 10-K as filed with the SEC for the fiscal year ended December 31, 2018. As of September 30, 2019, the details of the consolidating subsidiaries are as follows: Name of Company Place of Attributable HP Technology Limited British Virgin Islands 100 % Heyu Healthcare Technology Limited Hong Kong 100 % JSEL The PRC 100 % Kangzi The PRC 60 % Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the financial statements are reasonable and prudent; however, actual results could differ from these estimates. Significant estimates include the allowance for doubtful accounts, impairment assessments of goodwill, valuation of deferred tax assets, rebilling collections and certain accrued liabilities such as contingent liabilities. Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity period of three months or less to be cash or cash equivalents. The carrying amounts reported in the accompanying unaudited condensed consolidated balance sheets for cash and cash equivalents approximate their fair value. All of the Company's cash that is held in bank accounts in the PRC and Hong Kong is not protected by Federal Deposit Insurance Corporation ("FDIC") insurance or any other similar insurance in the PRC, or Hong Kong. Inventories Inventories are stated at the lower of cost or market value. The Company applies the weighted average cost method to its inventory. Leases The Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02), as amended, which supersedes the lease accounting guidance under Topic 840, and generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. Operating leases are included in operating lease right-of-use ("ROU") assets and short-term and long-term lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, we use the industry incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Adoption of the standard resulted in the initial recognition of $215,298 of ROU assets and $215,298 of lease liabilities on our consolidated balance sheet related to office space lease commitment on September 1, 2019. ASU 2016-02 requires that public companies use a secured incremental browning rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. We determine a secured rate on a quarterly basis and update the weighted average discount rate accordingly. Lease terms and discount rate follow. September 1, 2019 Weighted Average Remaining Lease Term(Year) 3 Weighted Average Discount Rate 4.75 % The approximate future minimum lease payments under operating leases as: Operating Leases Fiscal 2019 25,409 Fiscal 2020 77,074 Fiscal 2021 79,615 Fiscal 2022 54,206 Total Lease payments 236,304 Less Imputed interest 21,005 Present value of lease liabilities $ 215,298 Foreign Currency For fiscal year 2019, the Company's principal country of operations is the PRC. The accompanying consolidated financial statements are presented in US$. The functional currency of the Company is US$, and the functional currency of the Company's subsidiaries is RMB. The consolidated financial statements are translated into US$ from RMB at year-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The resulting translation adjustments are recorded as a component of shareholders' equity included in other comprehensive income. Gains and losses from foreign currency transactions are included in profit or loss. There were no gains and losses from foreign currency transactions during the quarter ended September 30, 2019 and 2018. As of September 30, 2019 December 31, 2018 RMB: US$ exchange rate 7.1360 6.8764 Nine months ended 2019 2018 RMB: US$ exchange rate 6.8618 6.6146 The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into US$ at the rates used in translation. General and administrative costs General and administrative expenses include personnel expenses for executive, finance, and internal support personnel. In addition, general and administrative expenses include fees for bad debt costs, professional legal and accounting services, insurance, office space, banking and merchant fees, and other overhead-related costs. Income Taxes The Company accounts for income taxes pursuant to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability approach for financial accounting and reporting of income taxes. Any tax paid by subsidiaries during the year is recorded. Current tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. ASC Topic 740 also requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets. Realization of deferred tax assets, including those related to the U.S. net operating loss carry-forwards, are dependent upon future earnings, if any, of which the timing and amount are uncertain. The Company adopted ASC Topic 740-10-05, Income Tax, which provides guidance for recognizing and measuring uncertain tax positions. It prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Company's policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expense. Capital Structure The Company had 2,000,000,000 shares of authorized common stock, par value $0.001 per share, with 1,032,466,000 shares issued and outstanding as of September 30, 2019, and 1,141,472,861 shares issued and outstanding as of December 31, 2018. Earnings (loss) per share Basic net income (loss) per share of common stock attributable to common stockholders is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding stock-based awards, warrants, options, or convertible debt using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income (loss) per share of common stock attributable to common stockholders when their effect is dilutive. Potential dilutive securities are excluded from the calculation of diluted EPS in loss periods as their effect would be antidilutive. As of September 30, 2019 and December 31, 2018, there were no potentially dilutive shares. For the Quarter Ended September 30, 2019 2018 Statement of Operations Summary Information: Net loss $ (395,913 ) $ (147,797 ) Weighted-average common shares outstanding - basic and diluted 1,660,239,731 636,661,604 Net loss per share, basic and diluted $ (0.00 ) $ (0.00 ) |
Going Concern
Going Concern | 9 Months Ended |
Sep. 30, 2019 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN During the quarter ended September 30, 2019, the Company had been unable to generate cash flows sufficient to support its operations despite of Kangzi's business operation and had been dependent on related party advances from the current controlling shareholder. In addition, the Company had experienced recurring net losses, and had an accumulated deficit of $18,778,535 and working capital deficit of $686,579 as of September 30, 2019. These factors raise doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments related to the recoverability or classification of asset-carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern. There can be no assurance that sufficient funds required during the next year or thereafter will be generated from any future operations or that funds will be available from external sources such as debt or equity financings or other potential sources. If the Company is unable to raise capital from external sources when required, there would be a material adverse effect on its business. Furthermore, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have a significant dilutive effect on the Company's existing stockholders. Management is now seeking an operating company with which to merge or acquire. In the foreseeable future, the Company will rely on related parties, such as its controlling shareholder, to provide advances to funds general corporate purposes and any potential acquisitions of profitable investments. There is no assurance, however, that the Company will achieve its objectives or goals. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2019 | |
Cash and Cash Equivalents [Abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 3 – CASH AND CASH EQUIVALENTS Cash and cash equivalents consist of the following: As of September 30, As of December 31, Bank Deposits-China & HK 452,318 37,555 $ 452,318 $ 37,555 |
Other Receivable
Other Receivable | 9 Months Ended |
Sep. 30, 2019 | |
Other Receivable [Abstract] | |
OTHER RECEIVABLE | NOTE 4 – OTHER RECEIVABLE Other receivable consists of the following: As of September 30, As of December 31, Fujian Shanzhiling Biological Technology Co., Ltd. - 21,324 Others 24,566 - $ 24,566 $ 21,324 On October 8, 2018, the Company entered into a non-binding letter of intent with Fujian Shanzhiling Biological Technology Co., Ltd. (the "Acquirer"), a Chinese biotechnology product manufacturing corporation, whereby the Acquirer agreed to acquire 51% of the outstanding capital of the Company subject to certain adjustment provisions (the "Shanzhiling Acquisition"). As of the date of this report, the Company has terminated the agreements related to Shanzhiling Acquisition; therefore, the related balance in the amount of $24,499 has been written off during the quarter ended September 30, 2019. |
Advances to Suppliers
Advances to Suppliers | 9 Months Ended |
Sep. 30, 2019 | |
Advances to Suppliers [Abstract] | |
ADVANCES TO SUPPLIERS | NOTE 5 – ADVANCES TO SUPPLIERS Advances to suppliers consists of the following: As of As of Prepayment for purchase of raw materials 81,431 - $ 81,431 $ 0 |
Inventory
Inventory | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
INVENTORY | NOTE 6 – INVENTORY Inventory consists of the following: As of As of Raw materials 301,725 - Finished goods 9,409 - $ 311,134 $ - No impairment was provided for the inventories as of September 30, 2019. |
Operating Lease Right-of-Use As
Operating Lease Right-of-Use Asset and Liabilities | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Operating Lease Right-of-Use Asset and Liabilities | NOTE 7 – OPERATING LEASE RIGHT-OF-USE ASSET AND LIABILITIES As of September 1, 2019, company entered in lease agreement for the office space, the right-of-use asset is recognized as following: As of As of Operating lease right-of-use asset 209,587 - $ 209,587 $ - Operating lease liability consist both current and noncurrent component as the following: As of As of Operating lease liability - current portion (66,473 ) - Operating lease liability (143,325 ) - $ (209,798 ) $ - ASU 2016-02 requires that public companies use a secured incremental browning rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. We determine a secured rate on a quarterly basis and update the weighted average discount rate accordingly. Lease terms and discount rate follow. September 1, 2019 Weighted Average Remaining Lease Term (Year) 3 Weighted Average Discount Rate 4.75 % The approximate future minimum lease payments under operating leases as: Operating Leases Fiscal 2019 25,409 Fiscal 2020 77,074 Fiscal 2021 79,615 Fiscal 2022 54,206 Total Lease payments 236,304 Less Imputed interest 21,005 Present value of lease liabilities $ 215,298 |
Advances from Customers
Advances from Customers | 9 Months Ended |
Sep. 30, 2019 | |
Advances from Customers [Abstract] | |
ADVANCES FROM CUSTOMERS | NOTE 8 – ADVANCES FROM CUSTOMERS As of As of Advances from customers (1) 420,406 - $ 420,406 $ - (1) On October 15 2019, JSEL entered into a clinical cooperation agreement (the "Clinical Cooperation Agreement") with Shenzhen Saikun Biotechnology Co., Ltd. ("Saikun"). Pursuant to the Clinical Cooperation Agreement, Saikun agreed to pay JSEL 5.5 million RMB as the total preordering payment. 1.5 million RMB and 1.5 million RMB were delivered to JSEL respectively on September 7 and September 27, 2019. The parties are working on the timing for payment of the remaining 2.5 million RMB due under the Clinical Cooperation Agreement. In exchange, JSEL is obligated to purchase all the components of a Chamber from Kangzi, fully assemble it, and conduct a clinical trial with Saikun, third-party hospital partners, and patients using the Chamber. Specifically, after receiving the full amount of payment from Saikun, JSEL shall transport the Chamber to its preferred location, properly install it, and conduct a clinical trial that lasts at least one month. |
Accrued Expenses and Other Paya
Accrued Expenses and Other Payables | 9 Months Ended |
Sep. 30, 2019 | |
Payables and Accruals [Abstract] | |
ACCRUED EXPENSES AND OTHER PAYABLES | NOTE 9 – ACCRUED EXPENSES AND OTHER PAYABLES Accrued expenses and other payables consist of the following: As of As of Accrued payroll 35,633 7,589 Other Payables 76,085 9,039 $ 111,718 $ 16,628 Accrued payroll includes all company employee payroll liabilities as of September 30, 2019, and other payables contains employee reimbursements. Operating lease liability consist both current and noncurrent component as the following: As of As of Operating lease liability - current portion (66,473 ) - Operating lease liability (143,325 ) - $ (209,798 ) $ - |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2019 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 10 – RELATED PARTY TRANSACTIONS As of September 30, 2019, and December 31, 2018, the Company owed related parties $957,409 and $279,464, respectively. As the Company has just started business activities in March 2019, all expenses incurred during this reporting period are paid by a related party. Expenses mainly included auditing, consulting and legal advisory expenses, government registration expenses, and payrolls. A director of the Company provides the property for the use by the Company without charge. |
Equity
Equity | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
EQUITY | NOTE 11 – EQUITY The Company recorded the following equity transactions during the nine months ended September 30, 2019: On March 15, 2019, the Company, with the approval of the Board, entered into a Share Cancellation Agreement (the "Share Cancellation Agreement") with Mr. Ban Siong Ang, the President, Chief Executive Officer, and Chairman of the Board of the Company. Pursuant to the Share Cancellation Agreement, the Company and Mr. Ang agreed to cancel 109,006,861 shares of Common Stock previously issued to Mr. Ang. The Company recorded the following equity transactions during the year ended December 31, 2018: On March 12, 2018, the Board of Directors, with the consent of the majority shareholder, voted for a 1-for-464 reverse stock split. On April 11, 2018 the reverse split became effective. On April 13, 2018, 1,000,000,000 shares were issued to a prior related party as a repayment of debt. On April 18, 2018, the Company entered into a Share Purchase Agreement with Mr. Ban Siong Ang and Mr. Dan Masters, pursuant to which Mr. Ang acquired 1,021,051,700 shares, representing 98.91% of the issued and outstanding shares of Common Stock from Mr. Masters for an aggregate purchase price of $335,000. As a result of the Share Purchase Agreement, the Company accepted the resignation of Mr. Masters, as the Company's President, Chief Executive Officer, Chief Financial Officer, Secretary and Chairman of the Board. This resignation was given in connection with the closing of the Share Purchase and was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Additionally, all debt due to Mr. Masters from the Company was cancelled as of the closing of the Share Purchase and recognized as contributed capital. On July 30, 2018, the Company amended its Articles of Incorporation with the State of Nevada in order to increase its authorized shares of Common Stock from 150,000,000 to 2,000,000,000. On September 11, 2018, the Nevada Secretary of State approved the Company's certificate of amendment to amend its Articles of Incorporation to effectuate a 100-for-1 forward stock split. The total issued and outstanding shares of Common Stock has been increased from 10,324,660 to 1,032,466,000 shares, with the par value unchanged at $0.001. In October 2018, the controlling stockholder of the Company, Mr. Ban Siong Ang, entered into a series of share transfer agreements (the "Share Transfer Agreements") with certain buyers (the "Buyers"). Pursuant to the Share Transfer Agreements, an aggregate of 109,006,861 shares of Common Stock were issued to the Buyers, but the cancellation of the 109,006,861 shares of Common Stock held by Mr. Ang was still in process as of December 31, 2018. The cancellation of those shares held by Mr. Ang was subsequently completed on March 20, 2019, pursuant to a Share Cancellation Agreement dated March 15, 2019, by and between the Company and Mr. Ang. Unless otherwise indicated, all common share amounts and per share amounts in the financial statements and disclosures have been presented giving effect to the 1-for-464 reverse split that became effective on April 11, 2018, and the 100-for-1 forward stock split that became effective on September 11, 2018. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 12 – INCOME TAXES The Company is subject to U.S. Federal tax laws. The Company has not recognized an income tax benefit for its operating losses in the United States because the Company does not expect to commence active operations in the United States. Heyu Healthcare Technology Limited was incorporated in Hong Kong and is subject to Hong Kong profits tax at a tax rate of 16.5%. Since Heyu Healthcare Technology Limited had no taxable income during the reporting period, it has not paid Hong Kong profits taxes. Heyu Healthcare Technology Limited has not recognized an income tax benefit for its operating losses in Hong Kong because the Company does not expect to commence active operations in Hong Kong. The Company has been conducting and plans to continue to conduct its major operations in the PRC through JSEL in accordance with the relevant tax laws and regulations. The corporate income tax rate in China is 25%. The Company has not paid PRC profits taxes, since it had no taxable income during the reporting period. |
The Company and Significant A_2
The Company and Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements of the Company as of and for the three and nine months ended September 30, 2019 and 2018 are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) that have been made are necessary to fairly present the financial position of the Company as of September 30, 2019, the results of its operations for the three and nine months ended September 30, 2019 and 2018, and its cash flows for the nine months ended September 30, 2019 and 2018. Operating results for the interim periods presented are not necessarily indicative of the results to be expected for a full fiscal year. The balance sheet as of December 31, 2018 has been derived from the Company's audited financial statements included in the Form 10-K for the year ended December 31, 2018. The statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and other information included in the Company's Annual Report on Form 10-K as filed with the SEC for the fiscal year ended December 31, 2018. As of September 30, 2019, the details of the consolidating subsidiaries are as follows: Name of Company Place of Attributable HP Technology Limited British Virgin Islands 100 % Heyu Healthcare Technology Limited Hong Kong 100 % JSEL The PRC 100 % Kangzi The PRC 60 % |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the financial statements are reasonable and prudent; however, actual results could differ from these estimates. Significant estimates include the allowance for doubtful accounts, impairment assessments of goodwill, valuation of deferred tax assets, rebilling collections and certain accrued liabilities such as contingent liabilities. |
Cash Equivalents | Cash Equivalents The Company considers all highly liquid debt instruments purchased with a maturity period of three months or less to be cash or cash equivalents. The carrying amounts reported in the accompanying unaudited condensed consolidated balance sheets for cash and cash equivalents approximate their fair value. All of the Company's cash that is held in bank accounts in the PRC and Hong Kong is not protected by Federal Deposit Insurance Corporation ("FDIC") insurance or any other similar insurance in the PRC, or Hong Kong. |
Inventories | Inventories Inventories are stated at the lower of cost or market value. The Company applies the weighted average cost method to its inventory. |
Leases | Leases The Company adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02), as amended, which supersedes the lease accounting guidance under Topic 840, and generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. Operating leases are included in operating lease right-of-use ("ROU") assets and short-term and long-term lease liabilities in our consolidated balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the leases do not provide an implicit rate, we use the industry incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Adoption of the standard resulted in the initial recognition of $215,298 of ROU assets and $215,298 of lease liabilities on our consolidated balance sheet related to office space lease commitment on September 1, 2019. ASU 2016-02 requires that public companies use a secured incremental browning rate for the present value of lease payments when the rate implicit in the contract is not readily determinable. We determine a secured rate on a quarterly basis and update the weighted average discount rate accordingly. Lease terms and discount rate follow. September 1, 2019 Weighted Average Remaining Lease Term(Year) 3 Weighted Average Discount Rate 4.75 % The approximate future minimum lease payments under operating leases as: Operating Leases Fiscal 2019 25,409 Fiscal 2020 77,074 Fiscal 2021 79,615 Fiscal 2022 54,206 Total Lease payments 236,304 Less Imputed interest 21,005 Present value of lease liabilities $ 215,298 |
Foreign Currency | Foreign Currency For fiscal year 2019, the Company's principal country of operations is the PRC. The accompanying consolidated financial statements are presented in US$. The functional currency of the Company is US$, and the functional currency of the Company's subsidiaries is RMB. The consolidated financial statements are translated into US$ from RMB at year-end exchange rates as to assets and liabilities and average exchange rates as to revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred. The resulting translation adjustments are recorded as a component of shareholders' equity included in other comprehensive income. Gains and losses from foreign currency transactions are included in profit or loss. There were no gains and losses from foreign currency transactions during the quarter ended September 30, 2019 and 2018. As of September 30, 2019 December 31, 2018 RMB: US$ exchange rate 7.1360 6.8764 Nine months ended 2019 2018 RMB: US$ exchange rate 6.8618 6.6146 The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into US$ at the rates used in translation. |
General and administrative costs | General and administrative costs General and administrative expenses include personnel expenses for executive, finance, and internal support personnel. In addition, general and administrative expenses include fees for bad debt costs, professional legal and accounting services, insurance, office space, banking and merchant fees, and other overhead-related costs. |
Income Taxes | Income Taxes The Company accounts for income taxes pursuant to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability approach for financial accounting and reporting of income taxes. Any tax paid by subsidiaries during the year is recorded. Current tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. ASC Topic 740 also requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets. Realization of deferred tax assets, including those related to the U.S. net operating loss carry-forwards, are dependent upon future earnings, if any, of which the timing and amount are uncertain. The Company adopted ASC Topic 740-10-05, Income Tax, which provides guidance for recognizing and measuring uncertain tax positions. It prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions. The Company's policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income tax expense. |
Capital Structure | Capital Structure The Company had 2,000,000,000 shares of authorized common stock, par value $0.001 per share, with 1,032,466,000 shares issued and outstanding as of September 30, 2019, and 1,141,472,861 shares issued and outstanding as of December 31, 2018. |
Earnings (loss) per share | Earnings (loss) per share Basic net income (loss) per share of common stock attributable to common stockholders is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average shares of common stock outstanding for the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding stock-based awards, warrants, options, or convertible debt using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income (loss) per share of common stock attributable to common stockholders when their effect is dilutive. Potential dilutive securities are excluded from the calculation of diluted EPS in loss periods as their effect would be antidilutive. As of September 30, 2019 and December 31, 2018, there were no potentially dilutive shares. For the Quarter Ended September 30, 2019 2018 Statement of Operations Summary Information: Net loss $ (395,913 ) $ (147,797 ) Weighted-average common shares outstanding - basic and diluted 1,660,239,731 636,661,604 Net loss per share, basic and diluted $ (0.00 ) $ (0.00 ) |
The Company and Significant A_3
The Company and Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of details of the consolidating subsidiaries | Name of Company Place of Attributable HP Technology Limited British Virgin Islands 100 % Heyu Healthcare Technology Limited Hong Kong 100 % JSEL The PRC 100 % Kangzi The PRC 60 % |
Schedule of lease terms and discount rate | September 1, 2019 Weighted Average Remaining Lease Term(Year) 3 Weighted Average Discount Rate 4.75 % |
Schedule of future minimum lease payments under operating leases | Operating Leases Fiscal 2019 25,409 Fiscal 2020 77,074 Fiscal 2021 79,615 Fiscal 2022 54,206 Total Lease payments 236,304 Less Imputed interest 21,005 Present value of lease liabilities $ 215,298 |
Schedule of foreign currency transactions | As of September 30, 2019 December 31, 2018 RMB: US$ exchange rate 7.1360 6.8764 Nine months ended 2019 2018 RMB: US$ exchange rate 6.8618 6.6146 |
Schedule of earnings (loss) per share | For the Quarter Ended September 30, 2019 2018 Statement of Operations Summary Information: Net loss $ (395,913 ) $ (147,797 ) Weighted-average common shares outstanding - basic and diluted 1,660,239,731 636,661,604 Net loss per share, basic and diluted $ (0.00 ) $ (0.00 ) |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of cash and cash equivalents | As of September 30, As of December 31, Bank Deposits-China & HK 452,318 37,555 $ 452,318 $ 37,555 |
Other Receivable (Tables)
Other Receivable (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Other Receivable [Abstract] | |
Schedule of other receivable | As of September 30, As of December 31, Fujian Shanzhiling Biological Technology Co., Ltd. - 21,324 Others 24,566 - $ 24,566 $ 21,324 |
Advances to Suppliers (Tables)
Advances to Suppliers (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Advances to Suppliers [Abstract] | |
Schedule of advances to suppliers | As of As of Prepayment for purchase of raw materials 81,431 - $ 81,431 $ 0 |
Inventory (Tables)
Inventory (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of inventory | As of As of Raw materials 301,725 - Finished goods 9,409 - $ 311,134 $ - |
Operating Lease Right-of-Use _2
Operating Lease Right-of-Use Asset and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Schedule of right-of-use asset | As of As of Operating lease right-of-use asset 209,587 - $ 209,587 $ - As of As of Operating lease liability - current portion (66,473 ) - Operating lease liability (143,325 ) - $ (209,798 ) $ - September 1, 2019 Weighted Average Remaining Lease Term (Year) 3 Weighted Average Discount Rate 4.75 % |
Schedule of maturities of lease liabilities | Operating Leases Fiscal 2019 25,409 Fiscal 2020 77,074 Fiscal 2021 79,615 Fiscal 2022 54,206 Total Lease payments 236,304 Less Imputed interest 21,005 Present value of lease liabilities $ 215,298 |
Advances from Customers (Tables
Advances from Customers (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Advances from Customers [Abstract] | |
Schedule of Advances from Customers | As of As of Advances from customers (1) 420,406 - $ 420,406 $ - (1) On October 15 2019, JSEL entered into a clinical cooperation agreement (the "Clinical Cooperation Agreement") with Shenzhen Saikun Biotechnology Co., Ltd. ("Saikun"). Pursuant to the Clinical Cooperation Agreement, Saikun agreed to pay JSEL 5.5 million RMB as the total preordering payment. 1.5 million RMB and 1.5 million RMB were delivered to JSEL respectively on September 7 and September 27, 2019. The parties are working on the timing for payment of the remaining 2.5 million RMB due under the Clinical Cooperation Agreement. In exchange, JSEL is obligated to purchase all the components of a Chamber from Kangzi, fully assemble it, and conduct a clinical trial with Saikun, third-party hospital partners, and patients using the Chamber. Specifically, after receiving the full amount of payment from Saikun, JSEL shall transport the Chamber to its preferred location, properly install it, and conduct a clinical trial that lasts at least one month. |
Accrued Expenses and Other Pa_2
Accrued Expenses and Other Payables (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of accrued expenses and other payables | As of As of Accrued payroll 35,633 7,589 Other Payables 76,085 9,039 $ 111,718 $ 16,628 |
Schedule of operating lease liability | As of As of Operating lease liability - current portion (66,473 ) - Operating lease liability (143,325 ) - $ (209,798 ) $ - |
The Company and Significant A_4
The Company and Significant Accounting Policies (Details) | 9 Months Ended |
Sep. 30, 2019 | |
HP Technology Limited [Member] | |
Name of Company | HP Technology Limited |
Place of incorporation | British Virgin Islands |
Attributable equity interest % | 100.00% |
Heyu Healthcare Technology Limited [Member] | |
Name of Company | Heyu Healthcare Technology Limited |
Place of incorporation | Hong Kong |
Attributable equity interest % | 100.00% |
JSEL [Member] | |
Name of Company | JSEL |
Place of incorporation | The PRC |
Attributable equity interest % | 100.00% |
Kangzi [Member] | |
Name of Company | Kangzi |
Place of incorporation | The PRC |
Attributable equity interest % | 60.00% |
The Company and Significant A_5
The Company and Significant Accounting Policies (Details 1) | Sep. 01, 2019 |
Accounting Policies [Abstract] | |
Weighted Average Remaining Lease Term(Year) | 3 years |
Weighted Average Discount Rate | 4.75% |
The Company and Significant A_6
The Company and Significant Accounting Policies (Details 2) | Sep. 30, 2019USD ($) |
Accounting Policies [Abstract] | |
Fiscal 2019 | $ 25,409 |
Fiscal 2020 | 77,074 |
Fiscal 2021 | 79,615 |
Fiscal 2022 | 54,206 |
Total Lease payments | 236,304 |
Less Imputed interest | 21,005 |
Present value of lease liabilities | $ 215,298 |
The Company and Significant A_7
The Company and Significant Accounting Policies (Details 3) | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
US$ exchange rate | 6.6146 | ||
RMB [Member] | |||
US$ exchange rate | 7.1360 | 6.8764 | |
US$ exchange rate | 6.8618 |
The Company and Significant A_8
The Company and Significant Accounting Policies (Details 4) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Operations Summary Information: | ||||
Net loss | $ (184,691) | $ (125,957) | $ (357,216) | $ (147,797) |
Weighted average shares - basic and diluted | 1,019,289,346 | 1,032,266,000 | 1,660,239,731 | 636,661,604 |
Net loss per share, basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
The Company and Significant A_9
The Company and Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | ||||
Apr. 18, 2018 | Sep. 30, 2019 | Sep. 01, 2019 | Jan. 17, 2019 | Dec. 31, 2018 | |
The Company and Significant Accounting Policies (Textual) | |||||
Common stock, par value | $ 0.001 | $ 0.001 | |||
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 | |||
Common stock, shares issued | 1,032,466,000 | 1,141,472,861 | |||
Common stock, shares outstanding | 1,032,466,000 | 1,141,472,861 | |||
operating lease right-of-use, assets | $ 209,587 | $ 215,298 | |||
operating lease right-of-use, lease liabilities | $ 209,798 | $ 215,298 | |||
Shanghai Kangzi Medical Technology Co., Ltd [Member] | |||||
The Company and Significant Accounting Policies (Textual) | |||||
Percentage of issued and outstanding shares of common stock | 90.00% | ||||
JSEL [Member] | |||||
The Company and Significant Accounting Policies (Textual) | |||||
Percentage of issued and outstanding shares of common stock | 60.00% | ||||
Share Purchase Agreement [Member] | |||||
The Company and Significant Accounting Policies (Textual) | |||||
Percentage of issued and outstanding shares of common stock | 98.91% | ||||
Aggregate purchase price | $ 335,000 | ||||
Purchaser acquired shares | 1,021,051,700 |
Going Concern (Details)
Going Concern (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Going Concern (Textual) | ||
Accumulated deficit | $ (18,778,535) | $ (18,421,319) |
Working capital deficit | $ 686,579 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Cash and cash equivalents | $ 452,318 | $ 37,555 | ||
Bank Deposits-China & HK [Member] | ||||
Cash and cash equivalents | $ 452,318 | $ 37,555 |
Other Receivable (Details)
Other Receivable (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Other receivables | $ 24,566 | $ 21,324 |
Fujian Shanzhiling Biological Technology Co., Ltd. [Member] | ||
Other receivables | 21,324 | |
Others [Member] | ||
Other receivables | $ 24,566 |
Other Receivable (Details Textu
Other Receivable (Details Textual) - Fujian Shanzhiling Biological Technology Co., Ltd [Member] - USD ($) | Oct. 08, 2018 | Sep. 30, 2019 |
Other Receivable (Textual) | ||
Acquirer agreed to acquire outstanding capital percentage | 51.00% | |
Acquisition related amount | $ 24,499 |
Advances to Suppliers (Details)
Advances to Suppliers (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Prepayment for purchase of raw materials | $ 81,431 | |
Raw Materials [Member] | ||
Prepayment for purchase of raw materials | $ 81,431 |
Inventory (Details)
Inventory (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 301,725 | |
Finished goods | 9,409 | |
Inventory, net | $ 311,134 |
Operating Lease Right-of-Use _3
Operating Lease Right-of-Use Asset and Liabilities (Details) - USD ($) | Sep. 30, 2019 | Sep. 01, 2019 | Dec. 31, 2018 |
Operating lease right-of-use asset | $ 209,587 | $ 215,298 | |
Office space [Member] | |||
Operating lease right-of-use asset | $ 209,587 |
Operating Lease Right-of-Use _4
Operating Lease Right-of-Use Asset and Liabilities (Details 1) - USD ($) | Sep. 30, 2019 | Sep. 01, 2019 | Dec. 31, 2018 |
Notes To Financial Statements Abstract | |||
Operating lease liability - current portion | $ 66,473 | ||
Operating lease liability | 143,325 | ||
Total | $ 209,798 | $ 215,298 |
Operating Lease Right-of-Use _5
Operating Lease Right-of-Use Asset and Liabilities (Details 2) | Sep. 30, 2019USD ($) |
Notes To Financial Statements Abstract | |
Fiscal 2019 | $ 25,409 |
Fiscal 2020 | 77,074 |
Fiscal 2021 | 79,615 |
Fiscal 2022 | 54,206 |
Total Lease payments | 236,304 |
Less Imputed interest | 21,005 |
Present value of lease liabilities | $ 215,298 |
Advances from Customers (Detail
Advances from Customers (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 | |
Notes To Financial Statements Abstract | |||
Advances from customers | [1] | $ 420,406 | |
Total | $ 420,406 | ||
[1] | On October 15 2019, JSEL entered into a clinical cooperation agreement (the "Clinical Cooperation Agreement") with Shenzhen Saikun Biotechnology Co., Ltd. ("Saikun"). Pursuant to the Clinical Cooperation Agreement, Saikun agreed to pay JSEL 5.5 million RMB as the total preordering payment. 1.5 million RMB and 1.5 million RMB were delivered to JSEL respectively on September 7 and September 27, 2019. The parties are working on the timing for payment of the remaining 2.5 million RMB due under the Clinical Cooperation Agreement. In exchange, JSEL is obligated to purchase all the components of a Chamber from Kangzi, fully assemble it, and conduct a clinical trial with Saikun, third-party hospital partners, and patients using the Chamber. Specifically, after receiving the full amount of payment from Saikun, JSEL shall transport the Chamber to its preferred location, properly install it, and conduct a clinical trial that lasts at least one month. |
Advances from Customers (Deta_2
Advances from Customers (Details Textual) | Oct. 15, 2019 |
Subsequent Event [Member] | |
Advances from customers,description | JSEL entered into a clinical cooperation agreement (the "Clinical Cooperation Agreement") with Shenzhen Saikun Biotechnology Co., Ltd. ("Saikun"). Pursuant to the Clinical Cooperation Agreement, Saikun agreed to pay JSEL 5.5 million RMB as the total preordering payment. 1.5 million RMB and 1.5 million RMB were delivered to JSEL respectively on September 7 and September 27, 2019. The parties are working on the timing for payment of the remaining 2.5 million RMB due under the Clinical Cooperation Agreement. In exchange, JSEL is obligated to purchase all the components of a Chamber from Kangzi, fully assemble it, and conduct a clinical trial with Saikun, third-party hospital partners, and patients using the Chamber. Specifically, after receiving the full amount of payment from Saikun, JSEL shall transport the Chamber to its preferred location, properly install it, and conduct a clinical trial that lasts at least one month. |
Accrued Expenses and Other Pa_3
Accrued Expenses and Other Payables (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Payables and Accruals [Abstract] | ||
Accrued payroll | $ 35,633 | $ 7,589 |
Other Payables | 76,085 | 9,039 |
Total accounts payable and accrued expenses | $ 111,718 | $ 16,628 |
Accrued Expenses and Other Pa_4
Accrued Expenses and Other Payables (Details 1) - USD ($) | Sep. 30, 2019 | Sep. 01, 2019 | Dec. 31, 2018 |
Notes To Financial Statements Abstract | |||
Operating lease liability - current portion | $ 66,473 | ||
Operating lease liability | 143,325 | ||
Total | $ 209,798 | $ 215,298 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Related Party Transactions (Textual) | ||
Related party payable | $ 957,409 | $ 279,464 |
Equity (Details)
Equity (Details) - USD ($) | Sep. 11, 2018 | Apr. 13, 2018 | Mar. 12, 2018 | Apr. 18, 2018 | Sep. 30, 2019 | Mar. 15, 2019 | Dec. 31, 2018 | Oct. 30, 2018 | Jul. 30, 2018 |
Equity (Textual) | |||||||||
Increase authorized shares of common stock shares minimum | 150,000,000 | ||||||||
Increase authorized shares of common stock shares maximum | 2,000,000,000 | ||||||||
Reverse split, description | The Nevada Secretary of State approved the Company's certificate of amendment to amend its Articles of Incorporation to effectuate a 100-for-1 forward stock split. | The Board of Directors, with the consent of the majority shareholder, voted for a 1-for-464 reverse stock split. On April 11, 2018 the reverse split became effective. | All common share amounts and per share amounts in the financial statements and disclosures have been presented giving effect to the 1-for-464 reverse split that became effective on April 11, 2018, and the 100-for-1 forward stock split that became effective on September 11, 2018. | ||||||
Shares of common stock in exchange for reduction in related party payable | 1,000,000,000 | ||||||||
Par value of common stock | $ 0.001 | $ 0.001 | |||||||
Common stock, shares issued | 1,032,466,000 | 1,141,472,861 | |||||||
Common stock, shares outstanding | 1,032,466,000 | 1,141,472,861 | |||||||
Common Stock [Member] | Minimum [Member] | |||||||||
Equity (Textual) | |||||||||
Par value of common stock | $ 0.001 | ||||||||
Common stock, shares issued | 10,324,660 | ||||||||
Common stock, shares outstanding | 10,324,660 | ||||||||
Common Stock [Member] | Maximum [Member] | |||||||||
Equity (Textual) | |||||||||
Par value of common stock | $ 0.001 | ||||||||
Common stock, shares issued | 1,032,466,000 | ||||||||
Common stock, shares outstanding | 1,032,466,000 | ||||||||
Share Cancellation Agreement [Member] | |||||||||
Equity (Textual) | |||||||||
Common stock, shares issued | 109,006,861 | 109,006,861 | |||||||
Share Purchase Agreement [Member] | |||||||||
Equity (Textual) | |||||||||
Purchaser acquired shares | 1,021,051,700 | ||||||||
Purchaser acquired shares percentage | 98.91% | ||||||||
Aggregate purchase price | $ 335,000 |
Income Taxes (Details)
Income Taxes (Details) | 9 Months Ended |
Sep. 30, 2019 | |
CHINA [Member] | |
Income Taxes (Textual) | |
Income tax rate | 25.00% |
HONG KONG [Member] | |
Income Taxes (Textual) | |
Income tax rate | 16.50% |