Chun Can Capital (CNCN) 10-Q 18 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 17, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity Registrant Name	CHUN CAN CAPITAL GROUP
Entity Central Index Key	0001191334
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		220,033,011

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents
Total current assets
Total assets	0	0
Current Liabilities
Accounts payable	28,456
Accounts payable - related	9,660
Total current liabilities	38,116
Total Liabilities	38,116
Stockholders' deficit
Preferred stock: par value $0.001 per share, 30,000,000 Shares authorized, none issued and outstanding
Common stock: par value $0.001 per share, 270,000,000 shares authorized; 220,033,011 and 33,011 shares issued and outstanding	220,033	33
Additional paid-in capital	20,458,967	20,668,967
Accumulated deficit	(20,717,116)	(20,669,000)
Total stockholders' deficit	(38,116)	0
Total liabilities and stockholders' deficit	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	30,000,000	30,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	270,000,000	270,000,000
Common stock, shares issued	220,033,011	33,011
Common stock, shares outstanding	220,033,011	33,011

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net Revenues
Operating expenses:
General and administrative	18,482		48,116
Total operating expenses	18,482		48,116
Loss from operations	(18,482)		(48,116)
Other expenses:
Interest expenses
Total other expense
Income (loss) before income taxes	(18,482)		(48,116)
Income tax expense
Net loss	$ (18,482)		$ (48,116)
Income (loss) per share- basic and diluted:	$ 0		$ 0
Weighted average shares outstanding common shares outstanding - basic and diluted	220,033,011	33,011	180,545,832	33,011

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (48,116)
Increase (decrease) in liabilities
Accounts payable	28,456
Accounts payable - related	19,660
Cash provided by (used in) operating activities
Cash flows from investing activities:
Cash provided by in investing activities
Cash flows from financing activities:
Proceeds from notes payable
Principal payments of notes payable
Cash used in financing activities
Net decrease in cash and cash equivalent
Cash and cash equivalent - beginning of period
Cash and cash equivalent - end of period
Supplemental Disclosures of Cash Flow Information:
Cash paid during the year for: Interest
Cash paid during the year for: Income taxes
Non-cash financing activities:
Conversion of payables to common stock	$ 10,000

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance (in shares) at Dec. 31, 2018	33,011
Beginning Balance at Dec. 31, 2018	$ 33	$ 20,668,967	$ (20,669,000)	$ 0
Net Loss
Ending Balance (in shares) at Mar. 31, 2019	33,011
Ending Balance at Mar. 31, 2019	$ 33	20,668,967	(20,669,000)	0
Beginning Balance (in shares) at Dec. 31, 2018	33,011
Beginning Balance at Dec. 31, 2018	$ 33	20,668,967	(20,669,000)	0
Net Loss
Ending Balance (in shares) at Sep. 30, 2019	33,011
Ending Balance at Sep. 30, 2019	$ 33	20,668,967	(20,669,000)	0
Beginning Balance (in shares) at Mar. 31, 2019	33,011
Beginning Balance at Mar. 31, 2019	$ 33	20,668,967	(20,669,000)	0
Net Loss
Ending Balance (in shares) at Jun. 30, 2019	33,011
Ending Balance at Jun. 30, 2019	$ 33	20,668,967	(20,669,000)	0
Net Loss
Ending Balance (in shares) at Sep. 30, 2019	33,011
Ending Balance at Sep. 30, 2019	$ 33	20,668,967	(20,669,000)	0
Beginning Balance (in shares) at Dec. 31, 2019	33,011
Beginning Balance at Dec. 31, 2019	$ 33	20,668,967	(20,669,000)	0
Shares issued to covert payable (in shares)	220,000,000
Shares issued to covert payable	$ 220,000	(210,000)		10,000
Net Loss			(29,134)	(29,134)
Ending Balance (in shares) at Mar. 31, 2020	220,033,011
Ending Balance at Mar. 31, 2020	$ 220,033	20,458,967	(20,698,134)	(19,134)
Beginning Balance (in shares) at Dec. 31, 2019	33,011
Beginning Balance at Dec. 31, 2019	$ 33	20,668,967	(20,669,000)	0
Net Loss				(48,116)
Ending Balance (in shares) at Sep. 30, 2020	220,033,011
Ending Balance at Sep. 30, 2020	$ 220,033	20,458,967	(20,717,116)	(38,116)
Beginning Balance (in shares) at Mar. 31, 2020	220,033,011
Beginning Balance at Mar. 31, 2020	$ 220,033	20,458,967	(20,698,134)	(19,134)
Net Loss			(500)	(500)
Ending Balance (in shares) at Jun. 30, 2020	220,033,011
Ending Balance at Jun. 30, 2020	$ 220,033	20,458,967	(20,698,634)	(19,634)
Net Loss			(18,482)	(18,482)
Ending Balance (in shares) at Sep. 30, 2020	220,033,011
Ending Balance at Sep. 30, 2020	$ 220,033	$ 20,458,967	$ (20,717,116)	$ (38,116)

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Chun Can Capital Group (formerly Cintel Corp.) (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments), necessary to state fairly the financial information included herein. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ materially from these estimates. In addition, any changes in these estimates or their related assumptions could have a materially adverse effect on the Company's operating results. These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. While the Company believes that the disclosures are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Going Concern The Company’s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company is a non-operating shell company which has experienced recurring operating losses and has.an accumulated deficit. These conditions raise uncertainty about the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. The Company’s ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its product and attain profitable operations. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company. Although the Company plans to pursue additional equity financing, there can be no assurance that the Company will be able to secure financing when needed or obtain such on terms satisfactory to the Company, if at all.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 2 - Income Taxes (Continued) The U.S. tax losses can be carried forward for 15 to 20 years to offset future taxable income and expire beginning in years 2020. The Company had net operating losses of approximately $20,669,000 at September 30, 2020. The provision for income taxes for the nine months ended September 30, 2020 and 2019 are summarized as follows: 2020 2019 Income tax – current $ (10,104 ) $ - Income tax – deferred 10,104 - $ - $ - The Company has deferred tax assets (liabilities) at September 30, 2020 and December 31, 2019 as follows: 2020 2019 Net operating loss carryforwards $ 4,350,594 $ 4,340,490 Valuation allowance (4,350,594 ) (4,340,490 ) $ - $ -

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Capital Stock	Note 3 – Capital Stock On February 19, 2020, the Company issued 220,000,000 shares of common stock to a company controlled by the legal custodian of the Company to convert $10,000 in payables.

Acquisition of Mine

Acquisition of Mine	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisition of Mine	Note 4 – Acquisition of Mine On August 12, 2020, the Company completed an agreement to acquire a Gold Mine in the Democratic Republic of the Congo (DRC), Africa, with 3,000,000 ounces of Inferred Gold Resources according to a JORC Report, and has appointed a new Senior Management Team with H.E Dr. Fahed Al Merhebi of Zurich Capital Funds Holdings Inc. as Chairman of the Board. Additionally, the Company appointed Ms. Zoli Macanda Simbodyal as the Chief Executive Officer, and Mr. James Mufaro as Chief Operating Officer.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Provision for Income Taxes	2020 2019 Income tax – current $ (10,104 ) $ - Income tax – deferred 10,104 - $ - $ -
Deferred Tax Assets (Liabilties)	2020 2019 Net operating loss carryforwards $ 4,350,594 $ 4,340,490 Valuation allowance (4,350,594 ) (4,340,490 ) $ - $ -

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax current	$ (10,104)
Income tax deferred	10,104
Income Tax- Benefit

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets (Liabilties) (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 4,350,594	$ 4,340,490
Valuation allowance	(4,350,594)	(4,340,490)
Operating loss carryforwards

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	9 Months Ended
	Sep. 30, 2020USD ($)
Corporate tax rate	21.00%
Net operating losses	$ 20,669,134

Capital Stock (Details)

Capital Stock (Details)	3 Months Ended
	Mar. 31, 2020USD ($)shares
Shares issued to cover payable	$ 10,000
Common stock [Member]
Shares issued to cover payable (in shares) | shares	220,000,000
Shares issued to cover payable	$ 10,000

Acquisition of Mine (Details Na

Acquisition of Mine (Details Narrative)	Aug. 21, 2020oz
Business Combinations [Abstract]
Gold resources	3,000,000