Umatrin Holding (UMHL) 10-Q 15 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 11, 2016
Document And Entity Information
Entity Registrant Name	Umatrin Holding Ltd
Entity Central Index Key	1,317,839
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		158,319,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 37,846	$ 174,113
Inventory	16,655	88,957
Deferred tax assets	10,423	9,991
Prepaid tax	56,110
Due from related parties	165,852	81,039
Other receivables and deposits	47,334	45,373
Total Current Assets	334,220	399,473
Property and equipment, net	1,461,385	1,423,002
Total Assets	1,795,605	1,822,475
Current Liabilities
Accounts payable and accrued expenses	111,955	148,658
Due to related parties	812,480	678,668
Income tax payable		1,441
Other payables	6,559	52,862
Term loan payable-current portion	43,330	41,535
Total Current Liabilities	974,324	923,163
Term loan payable-long term	495,966	480,228
Total Liabilities	1,470,290	1,403,391
Equity
Preferred stock: 10,000,000 authorized; $0.00001 par value 0 and 0 shares issued and outstanding
Common stock: 500,000,000 authorized; $0.00001 par value 158,319,000 shares issued and outstanding	1,583	1,583
Additional paid-In capital	2,678,550	2,654,298
Accumulated deficit	(2,336,743)	(2,207,775)
Accumulated other comprehensive loss	(115,112)	(133,465)
Total Umatrin Holding Limited Stockholders' Equity	228,278	314,642
Non-controlling interest	97,038	104,443
Total Equity	325,316	419,084
Total Liabilities and Stockholders Equity	$ 1,795,605	$ 1,822,475

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
STOCKHOLDERS' DEFICIT
Preferred stock, Par value	$ 0.00001	$ 0.00001
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	0	0
Preferred stock, Outstanding	0	0
Common stock, Par value	$ 0.00001	$ 0.00001
Common stock, Authorized	500,000,000	500,000,000
Common stock, Issued	158,319,000	158,319,000
Common stock, Outstanding	158,319,000	158,319,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Consolidated Statements Of Operations
Sales	$ 303,173	$ 708,052	$ 1,375,641	$ 2,560,546
Cost of sales	111,280	263,708	277,731	524,393
Gross margin	191,893	444,344	1,097,910	2,036,153
Operating expenses
Selling, general & administrative expenses	343,244	1,442,202	1,156,437	2,992,863
Total operating expenses	343,244	1,442,202	1,156,437	2,992,863
Loss from operations	(151,351)	(997,858)	(58,527)	(956,710)
Other income (expenses)
Interest expense	(19,195)		(48,519)	(1,785)
Total other income (expenses)	(19,195)		(48,519)	(1,785)
Net loss before income taxes	(170,546)	(997,858)	(107,046)	(958,495)
Provision of income taxes	(139)	16,126	(33,916)
Net income (loss)	(170,685)	(981,732)	(140,962)	(958,495)
Net loss attributable to the noncontrolling interest	30,046	133,622	11,993	123,947
Net loss attributable to Umatrin Holding Limited common Stockholders	$ (140,638)	$ (848,110)	$ (128,968)	$ (834,548)
Net Loss Per Common Share - basic & diluted	$ 0	$ (0.01)	$ 0	$ (0.01)
Weighted Average Number of Shares Outstanding - Basic and Diluted	158,319,000	158,319,000	158,319,000	158,319,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Consolidated Statements Of Comprehensive Income Loss
Net loss	$ (170,685)	$ (981,732)	$ (140,962)	$ (958,495)
Other comprehensive income (loss)
Foreign currency translation adjustment	(13,091)	7,262	22,941	(60,534)
Comprehensive income (loss)	(183,776)	(974,470)	(118,021)	(1,019,029)
Comprehensive income/loss attributable to the non-controlling interest	32,665	132,170	7,405	136,054
Comprehensive income (loss) attributable to Umatrin Holding Limited	$ (151,111)	$ (842,300)	$ (110,616)	$ (882,975)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net loss	$ (140,962)	$ (958,495)
Adjustment to reconcile net loss from operations:
Depreciation expense	41,982	44,443
Imputed Interest expenses	24,252	868
Interest expense-beneficial conversion feature		917
Stock options issued for compensation		283,126
Changes in operating assets and liabilities:
Trade receivables		93,382
Inventory	72,302	(92,255)
Prepaid tax	(56,110)	(31,029)
Other receivables and deposits	(1,961)	(1,101,184)
Accounts payable and accrued expenses	(36,703)	9,730
Income tax payable	(1,441)	(1,869,971)
Other payables	(46,303)	(244,626)
Net cash used in operating activities	(144,943)	(3,865,094)
Cash flows from investing activities
Purchase of property and equipment	(18,646)	(225,209)
Advance made to related parties	(84,813)
Repayment from advance made to related parties		250,556
Net cash provided by (used in) investing activities	(103,459)	25,347
Cash flows from financing activities
Proceedsfrom issuance of common stock		305,591
Capital Contribution
Proceeds/(Repayment) to related party, net	133,812	936,407
Proceeds/(Repayments) from term loan, net	(21,860)	605,615
Net cash provided by financing activities	111,952	1,847,613
Effect of exchange rate changes	183	64,932
Net increase (decrease) in cash and cash equivalents	(136,268)	(1,927,202)
Cash and cash equivalents at beginning of period	174,113	2,140,669
Cash and cash equivalents at end of period	37,846	213,467
Supplemental disclosures of cash flow information
Interest paid
Income taxes paid	$ 91,467	$ 172,869

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 1. ORGANIZATION	Umatrin Holding Limited (formerly known as Golden Opportunities Corporation) (the “Company”) was incorporated in the state of Delaware on February 2, 2005. The Company was originally incorporated in order to locate and negotiate with a targeted business entity for the combination of that target company with the Company. On January 6, 2016, the Company acquired 80% of the equity interests of U Matrin Worldwide SDN. BHD. ("Umatrin") in exchange for the issuance of a total of 100,000,000 shares of its common stock to the two holders of Umatrin, Dato' Sri and Dato' Liew. Immediately following the Share Exchange, the business of Umatrin became the business of the Company. U Matrin Worldwide SDN BHD, formerly known as OLC Worldwide SDN. BHD., was incorporated in Malaysia on July 22, 1993. The principal activities of Umatrin is direct selling and trading on beauty and personal care products, and investment holding. The Company entered into a share exchange agreement with Umatrin whereas the acquisition was accounted under US GAAP as a business combination under common control with the Company being the acquirer as both entities were owned by the same controlling shareholders. Prior to the business combination, Dato' Sri Eu Hin Chai, through Umatrin Group Ltd., held 76% of the outstanding shares of common stock of the Company. Dato' Sri Eu Hin Chai and Dato' Liew Kok Hong beneficially owned 61.25% and 38.75% of Umatrin immediately prior to the closing. Accordingly, historical cost will be the basis for transfer of assets and liabilities in the business combination in accordance with ASC 805-50-30-5.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 2. SIGNIFICANT ACCOUNTING POLICIES	Basis of presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K for fiscal year 2015. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. In accordance with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented for prior periods also should be retroactively adjusted to furnish comparative information. The comparative financial statement as of December 31, 2015 and for the six months ended June 30, 2015 are accordingly adjusted as though share exchange agreement between the Company and Umatrin occurred at the beginning of prior periods. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Fair value of financial instruments The Company’s balance sheet includes financial instruments, including cash, accounts payable, accrued expenses, amounts due to related party and convertible notes payable to a related party. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2015. The respective carrying value of certain amounts on the balance sheet financial instruments approximated their fair values due to the short-term nature of these instruments. Comprehensive Income (Loss) The Company follows the provisions of the Financial Accounting Standards Board (the “FASB”) ASC 220 Reporting Comprehensive Income Related parties The Company adopted ASC 850, Related Party Disclosures Risks and Uncertainties The Company’s operations are subject to significant risks and uncertainties including financial, operational and regulatory risks, including the potential risk of business failure. Commitments and contingencies The Company adopted ASC 450-20, Loss Contingencies Property and Equipment Property and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is calculated under the straight-line method to write off the cost of the assets over their estimated useful lives. Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 95 years An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from de-recognition of asset is recognized in profit or loss. Expenditures for repairs and maintenance, which do not improve or extend the expected useful lives of the assets, are expensed as incurred while major replacements and improvements are capitalized. Impairment of assets The carrying amounts of assets on the balance sheet are reviewed for impairment when there is an indication that the assets might be impaired. Impairment is measured by comparing the carrying values of the assets with their recoverable amounts. An impairment loss is charged to the statement of operation immediately unless the asset is carried at its revalued amount. Any impairment loss of a revalued asset is treated as a revaluation decrease to the extent of a previously recognized revaluation surplus for the same asset. In respect of assets other than goodwill, and when there is a change in the estimates used to determine the recoverable amount, a subsequent increase in the recoverable amount of an asset is treated as a reversal of the previous impairment loss and is recognized to the extent of the carrying amount of the asset that would have been determined (net of amortization and depreciation) had no impairment loss been recognized. The reversal is recognized in the statement of operation immediately, unless the asset is carried at its revalued amount. A reversal of an impairment loss on a revalued asset is credited directly to the revaluation surplus. However, to the extent that an impairment loss on the same revalued asset was previously recognized as an expense in the statement of operation, a reversal of that impairment loss is recognized as income in the statement of operation. Functional and presentation currency The functional currency of Umatrin is the currency of the primary economic environment in which the Company operates which is Malaysia Ringgit (“MYR”). Transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at the end of the reporting periods. Exchange differences arising on the settlement of monetary items and on translation of monetary items at period-end are included in income statement of the period. For the purpose of presenting these financial statements, the Company’s assets and liabilities are expressed in US$ at the exchange rate on the balance sheet date, stockholder’s equity accounts are translated at historical rates, and income and expense items are translated at the weighted average exchange rate during the period. The resulting translation adjustments are reported under accumulated other comprehensive income in the stockholder’s equity section of the balance sheets. Exchange rate used for the translation as follows: Period End Average US$ to MYR Rate Rate September 30, 2016 4.1162 4.0795 December 31, 2015 4.2942 3.8976 September 30, 2015 4.4564 3.7704 Cash and cash equivalents The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash and cash equivalents for the year ended September 30, 2016 and December 31, 2015 were $37,846 and $174,113 respectively. Trade Receivables Trade receivables are carried at anticipated realizable value. Bad debts are written off in the period in which they are identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet date. Bad debt expense were $nil and $nil for the nine months ended September 30, 2016 and 2015, respectively. Inventories Inventories, which are primarily comprised of finished goods for sale, are stated at the lower of cost or net realizable value, using the first-in first-out (FIFO) method. The Company evaluates the need for reserves associated with obsolete, slow-moving and non-salable inventory by reviewing net realizable values on a periodic basis. Only defects products could be return to our suppliers. Revenue Recognition The Company generally recognizes product sales revenue when the significant risks and rewards of ownership have been transferred pursuant to Malaysia law, including such factors as when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, sales and value-added tax laws have been complied with, and collectability is reasonably assured. The revenue recognitions for both retail and dealers are the same, as each recognized when the Company sells it to these parties. There is no policy for dealer to return any unsold products unless it was a defective product. Commission The Company expenses commission costs as incurred and includes it in selling expenses. The Company expenses commission costs as incurred and includes it in selling expenses. The Company grants commission to dealers and promoters to promote and sell the products. Amount of commission is based upon agreed value between the Company and the dealers and promoters as there is no fix basis for such amount. Advertising The Company expenses advertising costs as incurred and includes it in selling expenses. Income taxes and valuation allowance The Company follows ASC 740, Income Taxes A tax benefit from an uncertain tax position may be recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that the relevant taxing authority that has full knowledge of all relevant information will examine each uncertain tax position. Although the Company believes the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals. Segment Information The Company adopted ASC-280, Disclosures about Segments of an Enterprise and Related Information Recent Accounting Pronouncements In August 2015, FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date”. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In November 2015 the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes”, which changes how deferred taxes are classified on the Company’s balance sheets and is effective for financial statements issued for annual periods beginning after December 15, 2016, with early adoption permitted. ASU 2015-17 requires all deferred tax assets and liabilities to be classified as non-current. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes ASC 840, Leases. This ASU is based on the principle that entities should recognize assets and liabilities arising from leases. The ASU does not significantly change the lessees’ recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Leases are classified as finance or operating. The ASU’s primary change is the requirement for entities to recognize a lease liability for payments and a right of use asset representing the right to use the leased asset during the term on operating lease arrangements. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The effective date will be the first quarter of fiscal year 2020 with early adoption permitted. Management continues to assess the overall impact the adoption of ASU 2016-02 will have on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations by amending certain existing illustrative examples and adding additional illustrative examples to assist in the application of the guidance. The effective date and transition of these amendments is the same as the effective date and transition of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Public entities should apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The amendments are effective for public companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, which is intended to reduce diversity in practice in how certain cash receipts and payments are presented and classified in the statement of cash flows. The standard provides guidance in a number of situations including, among others, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and distributions received from equity method investees. The ASU also provides guidance for classifying cash receipts and payments that have aspects of more than one class of cash flows. For the Company, this ASU is effective January 1, 2018, with early adoption permitted. The standard requires application using a retrospective transition method. The Company is currently assessing this ASU’s impact on its results of operations and financial condition.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 3. GOING CONCERN	As reflected in the accompanying financial statements, the Company had accumulated deficit of $2,336,743 as of September 30, 2016 which include a net loss of $140,962 for the nine months ended September 30, 2016. Uncertainty arise as the market being in operation faces economic slowdown which might cast a slight doubt on the Company ability to generate profit in the next 12 months. Management's plans include the raising of capital through the equity markets to fund future operations, seeking additional acquisitions, and generating of revenue through the business. However, there can be no assurances the Company will be successful in its efforts to secure additional equity financing and obtaining sufficient revenue. These factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

OTHER RECEIVABLES AND DEPOSITS

OTHER RECEIVABLES AND DEPOSITS	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 4. OTHER RECEIVABLES AND DEPOSITS	September 30, 2016 December 31, 2015 Other receivables $ 9,839 $ 9,431 Deposits 37,495 35,942 Total $ 47,334 $ 45,373

PROPERTY & EQUIPMENT

PROPERTY & EQUIPMENT	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 5. PROPERTY & EQUIPMENT	Property & equipment consist of the following: September 30, 2016 December 31, 2015 Computer and software $ 21,461 $ 20,571 Furniture and fittings 29,636 28,408 Office equipment 43,126 41,014 Renovations and improvements 329,119 298,093 Building 1,127,784 1,081,054 Total 1,551,126 1,469,140 Less: accumulated depreciation (89,741 ) (46,138 ) Net $ 1,461,385 $ 1,423,002 The depreciation expense charged to general and administrative expenses were $41,982 and $44,443 for the nine months ended September 30, 2016 and 2015, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 6. RELATED PARTY TRANSACTIONS	Due from related parties consists of the following: September 30, 2016 December 31, 2015 Purpose Global Bizrewards Sdn. Bhd. $ 88,430 $ 34,465 Advance Multimedia Biz Solution Sdn. Bhd. 48,588 46,574 Advance Fine Portal Sdn. Bhd. 15,305 - Advance Sportlight Academy Sdn. Bhd. 13,009 - Advance Hipland Realty Sdn. Bhd. 146 - Advance M1Elite Sdn. Bhd. 374 - Advance Total Due from 165,852 81,039 Due to related parties consists of the following: September 30, 2016 December 31, 2015 Purpose Dato Sri Warren Eu Hin Chai $ 598,752 $ 464,827 Advance Michael A. Zahorik 30,307 30,307 Advance SKH Media Sdn. Bhd. 65,448 15,939 Advance Creative Iconic Sdn. Bhd. 117,973 167,595 Inventory Purchase Total Due to 812,480 678,668 The related parties’ relationship to the Company as follows: Name Relationship Michael A. Zahorik Former director Global Bizrewards Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai Multimedia Biz Solution Sdn. Bhd. Related by common director, Dato' Liew Kok Hong Fine Portal Sdn. Bhd. Related by common director, Dato' Liew Kok Hong Sportlight Academy Sdn. Bhd. Related by key employee; Lim Chee Pin Hipland Realty Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai M1Elite Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai SKH Media Sdn. Bhd. Related by common director, Dato' Sri Eu Hin Chai Dato Sri Warren Eu Hin Chai Director & Shareholder of the Company Creative Iconic Sdn. Bhd. Related by key employee; Patricia Low The amounts due from or due to related parties’ were unsecured, non-interest bearing, and due on demand. The Company purchased its inventory from its supplier JS Health & Beauty Sdn. Bhd. and Creative Iconic Sdn. Bhd. The amounts of inventory purchased were $277,731 and $260,685 for the nine months ended September 30, 2016 and 2015, respectively. The Company leased an office space from SKH Media Sdn. Bhd. The rent expenses were $22,061 and $23,870 for the nine months ended September 30, 2016 and 2015, respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 7. STOCKHOLDERS' EQUITY	On February 20, 2015, the majority shareholders voted on and approved an increase of the number of authorized common shares from 100,000,000 to 500,000,000 and a decrease in par value from $0.001 to $0.00001. The majority shareholders also voted on and approved a designation of 10,000,000 preferred shares with no series and a par value of $0.00001. The financial statements presented have been retroactively restated to present the change in authorized and par value. Equity –Common Stock There were 158,319,000 shares of common stock issued and outstanding as of September 30, 2016. Equity – Additional Paid-In Capital The Company had recognized imputed interest expense on advances, in the amounts of $24,252 and $868 for the nine months ended September 30, 2016 and 2015, respectively. These amounts were recognized as interest expense and a corresponding contribution to capital.

COMMITMENTS, CONTINGENCIES, RIS

COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 8. COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES	Operating Lease Commitments The Company entered into a property lease agreement for office space which started on December 1, 2014 and expired on October 31, 2015 for monthly payment of MYR10,000 (approximately $2,386). The lease was not renewed and the Company continues to rent the property on a month to month basis. The rent expenses were $22,061 and $23,870 for the nine months ended September 30, 2016 and 2015, respectively. Concentration and Credit risk Cash deposits with banks are held in financial institutions in Malaysia, which are federally insured with deposit protection up to MYR250,000 (approximately $62,047). Accordingly, the Company has a concentration of credit risk related to the uninsured part of bank deposits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk. The Company depends on few supplier for its products. Accordingly, the Company has a concentration risk related to these suppliers. Failure to maintain existing relationships with the suppliers or to establish new relationships in the future could negatively affect the Company’s ability to obtain products sold to customers in a timely manner. If the Company is unable to obtain ample supply of products from existing suppliers or alternative sources of supply, the Company may be unable to satisfy the orders from its customers, which could materially and adversely affect revenues.

TERM LOAN

TERM LOAN	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 9. TERM LOAN	On December 23, 2014, MYR2,300,000 (approximately $657,507) term loan was granted to the Company for the purchase of a four-story office with a repayment period of 240 months. The term loan was secured by the title deed for the said property and guaranteed by directors of the Company. The term loan is subject to an interest charges at 2.10% per annum below the Bank’s Base Lending Rate (“BLR”) with daily rests. The BLR is currently at 6.85% for September 30, 2016. On July 27, 2015, the Company made a drawdown of MYR2,300,000 (approx. $609,554) on the term loan. The repayment started effectively on September 1, 2015 with a fixed installment of MYR14,863.14 (approx. $3,547) for 240 installments. Interest expenses were $26,268 and $nil for the nine months ended September 30, 2016 and 2015, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Note 10. SUBSEQUENT EVENTS	Management has evaluated subsequent events through the date the financial statements were issued. Based on our evaluation, no events have occurred which require adjustment or disclosure.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Summary Of Significant Accounting Policies Policies
Basis of presentation	The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K for fiscal year 2015. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. In accordance with ASC 805-50-45-5, for transactions between entities under common control, financial statements and financial information presented for prior periods also should be retroactively adjusted to furnish comparative information. The comparative financial statement as of December 31, 2015 and for the six months ended June 30, 2015 are accordingly adjusted as though share exchange agreement between the Company and Umatrin occurred at the beginning of prior periods.
Use of estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Fair value of financial instruments	The Company’s balance sheet includes financial instruments, including cash, accounts payable, accrued expenses, amounts due to related party and convertible notes payable to a related party. The carrying amounts of current assets and current liabilities approximate their fair value because of the relatively short period of time between the origination of these instruments and their expected realization. Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2015. The respective carrying value of certain amounts on the balance sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Comprehensive Income (Loss)	The Company follows the provisions of the Financial Accounting Standards Board (the “FASB”) ASC 220 Reporting Comprehensive Income
Related parties	The Company adopted ASC 850, Related Party Disclosures
Risks and Uncertainties	The Company’s operations are subject to significant risks and uncertainties including financial, operational and regulatory risks, including the potential risk of business failure.
Commitments and contingencies	The Company adopted ASC 450-20, Loss Contingencies
Property and Equipment	Property and equipment are stated at cost less accumulated depreciation and impairment losses, if any. Depreciation is calculated under the straight-line method to write off the cost of the assets over their estimated useful lives. Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 95 years An item of equipment is derecognized upon disposal or when no future economic benefits are expected from its use. Any gain or loss arising from de-recognition of asset is recognized in profit or loss. Expenditures for repairs and maintenance, which do not improve or extend the expected useful lives of the assets, are expensed as incurred while major replacements and improvements are capitalized.
Impairment of assets	The carrying amounts of assets on the balance sheet are reviewed for impairment when there is an indication that the assets might be impaired. Impairment is measured by comparing the carrying values of the assets with their recoverable amounts. An impairment loss is charged to the statement of operation immediately unless the asset is carried at its revalued amount. Any impairment loss of a revalued asset is treated as a revaluation decrease to the extent of a previously recognized revaluation surplus for the same asset. In respect of assets other than goodwill, and when there is a change in the estimates used to determine the recoverable amount, a subsequent increase in the recoverable amount of an asset is treated as a reversal of the previous impairment loss and is recognized to the extent of the carrying amount of the asset that would have been determined (net of amortization and depreciation) had no impairment loss been recognized. The reversal is recognized in the statement of operation immediately, unless the asset is carried at its revalued amount. A reversal of an impairment loss on a revalued asset is credited directly to the revaluation surplus. However, to the extent that an impairment loss on the same revalued asset was previously recognized as an expense in the statement of operation, a reversal of that impairment loss is recognized as income in the statement of operation.
Functional and presentation currency	The functional currency of Umatrin is the currency of the primary economic environment in which the Company operates which is Malaysia Ringgit (“MYR”). Transactions in currencies other than the entity’s functional currency are recorded at the rates of exchange prevailing on the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rates prevailing at the end of the reporting periods. Exchange differences arising on the settlement of monetary items and on translation of monetary items at period-end are included in income statement of the period. For the purpose of presenting these financial statements, the Company’s assets and liabilities are expressed in US$ at the exchange rate on the balance sheet date, stockholder’s equity accounts are translated at historical rates, and income and expense items are translated at the weighted average exchange rate during the period. The resulting translation adjustments are reported under accumulated other comprehensive income in the stockholder’s equity section of the balance sheets. Exchange rate used for the translation as follows: Period End Average US$ to MYR Rate Rate September 30, 2016 4.1162 4.0795 December 31, 2015 4.2942 3.8976 September 30, 2015 4.4564 3.7704
Cash and cash equivalents	The Company considers all highly liquid investments with maturities of three months or less at the time of purchase to be cash equivalents. The cash and cash equivalents for the year ended September 30, 2016 and December 31, 2015 were $37,846 and $174,113 respectively.
Trade Receivables	Trade receivables are carried at anticipated realizable value. Bad debts are written off in the period in which they are identified. An estimate is made for doubtful debts based on a review of all outstanding amounts at the balance sheet date. Bad debt expense were $nil and $nil for the nine months ended September 30, 2016 and 2015, respectively.
Inventories	Inventories, which are primarily comprised of finished goods for sale, are stated at the lower of cost or net realizable value, using the first-in first-out (FIFO) method. The Company evaluates the need for reserves associated with obsolete, slow-moving and non-salable inventory by reviewing net realizable values on a periodic basis. Only defects products could be return to our suppliers.
Revenue Recognition	The Company generally recognizes product sales revenue when the significant risks and rewards of ownership have been transferred pursuant to Malaysia law, including such factors as when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, sales and value-added tax laws have been complied with, and collectability is reasonably assured. The revenue recognitions for both retail and dealers are the same, as each recognized when the Company sells it to these parties. There is no policy for dealer to return any unsold products unless it was a defective product.
Commission	The Company expenses commission costs as incurred and includes it in selling expenses. The Company expenses commission costs as incurred and includes it in selling expenses. The Company grants commission to dealers and promoters to promote and sell the products. Amount of commission is based upon agreed value between the Company and the dealers and promoters as there is no fix basis for such amount.
Advertising	The Company expenses advertising costs as incurred and includes it in selling expenses.
Income taxes and valuation allowance	The Company follows ASC 740, Income Taxes A tax benefit from an uncertain tax position may be recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that the relevant taxing authority that has full knowledge of all relevant information will examine each uncertain tax position. Although the Company believes the estimates are reasonable, no assurance can be given that the final outcome of these matters will not be different than what is reflected in the historical income tax provisions and accruals.
Segment Information	The Company adopted ASC-280, Disclosures about Segments of an Enterprise and Related Information
Recent Accounting Pronouncements	In August 2015, FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date”. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In November 2015 the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes”, which changes how deferred taxes are classified on the Company’s balance sheets and is effective for financial statements issued for annual periods beginning after December 15, 2016, with early adoption permitted. ASU 2015-17 requires all deferred tax assets and liabilities to be classified as non-current. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes ASC 840, Leases. This ASU is based on the principle that entities should recognize assets and liabilities arising from leases. The ASU does not significantly change the lessees’ recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Leases are classified as finance or operating. The ASU’s primary change is the requirement for entities to recognize a lease liability for payments and a right of use asset representing the right to use the leased asset during the term on operating lease arrangements. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The effective date will be the first quarter of fiscal year 2020 with early adoption permitted. Management continues to assess the overall impact the adoption of ASU 2016-02 will have on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)”. The amendments in this ASU are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations by amending certain existing illustrative examples and adding additional illustrative examples to assist in the application of the guidance. The effective date and transition of these amendments is the same as the effective date and transition of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. Public entities should apply the amendments in ASU 2014-09 for annual reporting periods beginning after December 15, 2017, including interim reporting periods therein. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The amendments are effective for public companies for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Several aspects of the accounting for share-based payment award transactions are simplified, including: (a) income tax consequences; (b) classification of awards as either equity or liabilities; and (c) classification on the statement of cash flows. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments, which is intended to reduce diversity in practice in how certain cash receipts and payments are presented and classified in the statement of cash flows. The standard provides guidance in a number of situations including, among others, settlement of zero-coupon bonds, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, and distributions received from equity method investees. The ASU also provides guidance for classifying cash receipts and payments that have aspects of more than one class of cash flows. For the Company, this ASU is effective January 1, 2018, with early adoption permitted. The standard requires application using a retrospective transition method. The Company is currently assessing this ASU’s impact on its results of operations and financial condition.

SIGNIFICANT ACCOUNTING POLICI18

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2016
Significant Accounting Policies Tables
Cost of the assets over their estimated useful lives.	Computer and software 5 years Furniture and fittings 10 years Office equipment 10 years Renovation and improvements 10 years Building 95 years
Exchange rate used for the translation as follows:	US$ to MYR Period End Rate Average Rate September 30, 2016 4.1162 4.0795 December 31, 2015 4.2942 3.8976 September 30, 2015 4.4564 3.7704

OTHER RECEIVABLES AND DEPOSITS

OTHER RECEIVABLES AND DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2016
Other Receivables And Deposits Tables
OTHER RECEIVABLES AND DEPOSITS	September 30, 2016 December 31, 2015 Other receivables $ 9,839 $ 9,431 Deposits 37,495 35,942 Total $ 47,334 $ 45,373

PROPERTY & EQUIPMENT (Tables)

PROPERTY & EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2016
Property Equipment Tables
Property & equipment	September 30, 2016 December 31, 2015 Computer and software $ 21,461 $ 20,571 Furniture and fittings 29,636 28,408 Office equipment 43,126 41,014 Renovations and improvements 329,119 298,093 Building 1,127,784 1,081,054 Total 1,551,126 1,469,140 Less: accumulated depreciation (89,741 ) (46,138 ) Net $ 1,461,385 $ 1,423,002

RELATED PARTIES TRANSACTIONS (T

RELATED PARTIES TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Related Parties Transactions Tables
Due from related parties	September 30, 2016 December 31, 2015 Purpose Global Bizrewards Sdn. Bhd. $ 88,430 $ 34,465 Advance Multimedia Biz Solution Sdn. Bhd. 48,588 46,574 Advance Fine Portal Sdn. Bhd. 15,305 - Advance Sportlight Academy Sdn. Bhd. 13,009 - Advance Hipland Realty Sdn. Bhd. 146 - Advance M1Elite Sdn. Bhd. 374 - Advance Total Due from 165,852 81,039
Due to related parties	September 30, 2016 December 31, 2015 Purpose Dato Sri Warren Eu Hin Chai $ 598,752 $ 464,827 Advance Michael A. Zahorik 30,307 30,307 Advance SKH Media Sdn. Bhd. 65,448 15,939 Advance Creative Iconic Sdn. Bhd. 117,973 167,595 Inventory Purchase Total Due to 812,480 678,668

SUMMARY OF SIGNIFICANT ACCONTIN

SUMMARY OF SIGNIFICANT ACCONTING POLICIES (Details)	9 Months Ended
	Sep. 30, 2016
Computer and software [Member]
Estimated useful lives	5 years
Furniture and fixtures [Member]
Estimated useful lives	10 years
Office Equipment [Member]
Estimated useful lives	10 years
Renovation and improvements [Member]
Estimated useful lives	10 years
Building
Estimated useful lives	95 years

SUMMARY OF SIGNIFICANT ACCONT23

SUMMARY OF SIGNIFICANT ACCONTING POLICIES (Details 1) - US$ to MYR [Member]	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Foreign currency translation Period End Rate	4.1162	4.2942	4.4564
Foreign currency translation exchange rate	4.0795	3.8976	3.7704

SUMMARY OF SIGNIFICANT ACCONT24

SUMMARY OF SIGNIFICANT ACCONTING POLICIES (Details Narrative) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Summary Of Significant Acconting Policies Details Narrative
Cash and cash equivalents	$ 37,846	$ 174,113	$ 213,467	$ 2,140,669

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Going Concern Details Narrative
Accumulated deficit	$ (2,336,743)		$ (2,336,743)		$ (2,207,775)
Net income (loss)	$ (170,685)	$ (981,732)	$ (140,962)	$ (958,495)

OTHER RECEIVABLES AND DEPOSIT26

OTHER RECEIVABLES AND DEPOSITS (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Other Receivables And Deposits Details
Other receivables	$ 9,839	$ 9,431
Deposits	37,495	35,942
Total	$ 47,334	$ 45,373

PROPERTY & EQUIPMENT (Details)

PROPERTY & EQUIPMENT (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Total fixed assets	$ 1,551,126	$ 1,469,140
Less: accumulated depreciation	(89,741)	(46,138)
Fixed assets, net	1,461,385	1,423,002
Computer and software [Member]
Total fixed assets	21,461	20,571
Furniture and fixtures [Member]
Total fixed assets	29,636	28,408
Office Equipment [Member]
Total fixed assets	43,126	41,014
Renovation and improvements [Member]
Total fixed assets	329,119	298,093
Building
Total fixed assets	$ 1,127,784	$ 1,081,054

PROPERTY & EQUIPMENT (Details N

PROPERTY & EQUIPMENT (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Property Equipment Details Narrative
General and administrative expenses	$ 41,982	$ 44,443

RELATED PARTIES TRANSACTIONS (D

RELATED PARTIES TRANSACTIONS (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Total Due from	$ 165,852	$ 81,039
Global Bizrewards Sdn. Bhd. [Member]
Total Due from	$ 88,430	34,465
Purpose	Advance
Multimedia Biz Solution Sdn. Bhd. [Member]
Total Due from	$ 48,588	46,574
Purpose	Advance
Fine Portal Sdn. Bhd. [Member]
Total Due from	$ 15,305
Purpose	Advance
SportlightAcademySdnBhd [Member]
Total Due from	$ 13,009
Purpose	Advance
Hipland Realty Sdn. Bhd. [Member]
Total Due from	$ 146
Purpose	Advance
M1Elite Sdn. Bhd. [Member]
Total Due from	$ 374
Purpose	Advance

RELATED PARTIES TRANSACTIONS 30

RELATED PARTIES TRANSACTIONS (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Total Due to	$ 812,480	$ 678,668
Dato Sri Warren Eu Hin Chai [Member]
Total Due to	$ 598,752	464,827
Purpose for due to related parties	Advance
Michael A. Zahorik [Member]
Total Due to	$ 30,307	30,307
Purpose for due to related parties	Advance
SKH Media Sdn. Bhd [Member]
Total Due to	$ 65,448	15,939
Purpose for due to related parties	Advance
Creative Iconic Sdn. Bhd. [Member]
Total Due to	$ 117,973	$ 167,595
Purpose for due to related parties	Inventory Purchase

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Related Party Transactions Details Narrative
Purchased Inventory	$ 277,731	$ 260,685
Rent expenses	$ 22,061	$ 23,870

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Stockholders Equity Details Narrative
Common stock, Issued	158,319,000		158,319,000
Common stock, Outstanding	158,319,000		158,319,000
Interest Expense	$ 24,252	$ 868

COMMITMENTS, CONTINGENCIES, R33

COMMITMENTS, CONTINGENCIES, RISKS AND UNCERTAINTIES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Commitments Contingencies Risks And Uncertainties Details Narrative
Rent expenses	$ 22,061	$ 23,870

TERM LOAN (Details Narrative)

TERM LOAN (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Term Loan Details Narrative
Base Lending Rate	6.85%
Interest expenses	$ 26,268	$ 0