Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 13, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-100046 | |
Entity Registrant Name | CHUN CAN CAPITAL GROUP | |
Entity Central Index Key | 0001191334 | |
Entity Tax Identification Number | 52-2360156 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 7323 Oswego Road | |
Entity Address, City or Town | Liverpool | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 13090 | |
City Area Code | (315) | |
Local Phone Number | 451-7515 | |
Entity Current Reporting Status | Yes | |
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 Consoliated Balance S
Condensed Consoliated Balance Sheets - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | ||
Total current assets | ||
Current liabilities: | ||
Accounts payable | 26,361 | 26,361 |
Accounts payable- related | 40,787 | 31,873 |
Total current liabilities | 67,148 | 58,234 |
Total liabilities | 67,148 | 58,234 |
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 | 220,033 |
Additional paid-in capital | 20,458,967 | 20,458,967 |
Accumulated deficit | (20,746,148) | (20,737,234) |
Total stockholders' deficit | (67,148) | (58,234) |
Total liabilities and stockholders' deficit |
Condensed Consoliated Balance_2
Condensed Consoliated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
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 | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
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 | 220,033,011 |
Common stock, shares issued | 220,033,011 | 220,033,011 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Statement [Abstract] | ||||
Net Revenues | ||||
Operating expenses: | ||||
General and administrative expenses | 7,914 | 500 | 8,914 | 29,634 |
Total operating expenses | 7,914 | 500 | 8,914 | 29,634 |
Loss from operations | (7,914) | (500) | (8,914) | (29,634) |
Other expenses: | ||||
Interest expense | ||||
Total other expenses | ||||
Income (loss) before income taxes | (7,914) | (500) | (8,914) | (29,634) |
Income tax expense | ||||
Net loss | $ (7,914) | $ (500) | $ (8,914) | $ (29,634) |
Income (loss) per share – basic and diluted: | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding - basic and diluted | 220,033,011 | 220,033,011 | 220,033,011 | 160,475,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders Deficit - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2019 | $ 33 | $ 20,668,967 | $ (20,669,000) | |
Shares, Issued, Beginning Balance at Dec. 31, 2019 | 33,011 | |||
Shares issued to cover payable | $ 220,000 | (210,000) | 10,000 | |
Shiares issued to cover payable, shares | 220,000,000 | |||
Net loss | (29,134) | (29,134) | ||
Ending balance, value at Mar. 31, 2020 | $ 220,033 | 20,458,967 | (20,698,134) | (19,134) |
Shares, Issued, Ending Balance at Mar. 31, 2020 | 220,033,011 | |||
Net loss | (500) | (500) | ||
Ending balance, value at Jun. 30, 2020 | $ 220,033 | 20,458,967 | (20,698,634) | (19,634) |
Shares, Issued, Ending Balance at Jun. 30, 2020 | 220,033,011 | |||
Beginning balance, value at Dec. 31, 2020 | $ 220,033 | 20,458,967 | (20,737,234) | (58,234) |
Shares, Issued, Beginning Balance at Dec. 31, 2020 | 220,033,011 | |||
Net loss | (1,000) | (1,000) | ||
Ending balance, value at Mar. 31, 2021 | $ 220,033 | 20,458,967 | (20,738,234) | (59,234) |
Shares, Issued, Ending Balance at Mar. 31, 2021 | 220,033,011 | |||
Net loss | (7,913) | (7,913) | ||
Ending balance, value at Jun. 30, 2021 | $ 220,033 | $ 20,458,967 | $ (20,746,147) | $ (67,148) |
Shares, Issued, Ending Balance at Jun. 30, 2021 | 220,033,011 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (8,914) | $ (29,634) |
Increase (decrease) in liabilities: | ||
Accounts payable | 17,389 | |
Accounts payable- related | 8,914 | 12,245 |
Cash provided by (used in) operating activities | ||
Cash flows from investing activities: | ||
Cash provided by 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 Disclosure of Cash Flows 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 |
Note 1 _ Basis of Presentation
Note 1 – Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Note 1 – 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. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. |
Note 2 - Income Taxes
Note 2 - Income Taxes | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Note 2 - Income Taxes | Note 2 - Income Taxes The corporate tax rates is 21%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized. 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 $20,746,148 The provision for income taxes for the six months ended June 30, 2021 and 2020 are summarized as follows: 2021 2020 Income tax – current $ (6,237 ) $ (6,223) Income tax – deferred 6,237 6223 $ - $ - The Company has deferred tax assets (liabilities) at June 30, 2021 and December 31, 2020 as follows: 2021 2020 Net operating loss carryforwards $ 4,355,000 $ 4,355,000 Valuation allowance (4,355,000 ) (4,355,000 ) $ - $ - |
Note 3 _ Capital Stock
Note 3 – Capital Stock | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Note 3 – Capital Stock | Note 3 – Capital Stock The Company did not issue any shares of capital stock during the three months ended June 30, 2021. |
Note 1 _ Basis of Presentation
Note 1 – Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Going Concern | 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. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. |
Note 2 - Income Taxes (Tables)
Note 2 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes - Provision for Income Taxes | 2021 2020 Income tax – current $ (6,237 ) $ (6,223) Income tax – deferred 6,237 6223 $ - $ - |
Income Taxes - Deferred Tax Assets (Liabilties) | 2021 2020 Net operating loss carryforwards $ 4,355,000 $ 4,355,000 Valuation allowance (4,355,000 ) (4,355,000 ) $ - $ - |
Income Taxes - Provision for In
Income Taxes - Provision for Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Income tax – current | $ (6,237) | $ (6,223) | ||
Income tax – deferred | 6,237 | 6,223 | ||
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets (Liabilties) (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 4,355,000 | $ 4,355,000 |
Valuation allowance | (4,355,000) | (4,355,000) |
Note 2 - Income Taxes (Details
Note 2 - Income Taxes (Details Narrative) | Jun. 30, 2021USD ($) |
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $ 20,746,148 |