Chun Can Capital (CNCN) 10-Q 24 Sep 21 2021 Q2 Quarterly report Financial data

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