USA Zhimingde International 10-K 16 Apr 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Apr. 16, 2018	Jun. 30, 2017
Document And Entity Information
Entity Central Index Key	1,363,343
Entity Registrant Name	USA Zhimingde International Group Corp
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Public Float			$ 1,657
Entity Common Stock, Shares Outstanding		1,853,207
Entity Filer Category	Smaller Reporting Company
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current Liabilities:
Accrued expenses	$ 155,924	$ 130,832
Total current liabilities	155,924	130,832
Stockholders' (deficit) (Note 5):
Preferred stock, $0.001 par value per share, 50,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value per share, 100,000,000 shares authorized, 1,853,207 shares issued and outstanding at December 31, 2017 and December 31, 2016	1,853	1,853
Additional paid-in capital	717,286	695,490
Deficit	(875,063)	(828,175)
Total stockholders' (deficit)	$ (155,924)	$ (130,832)

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	1,853,207	1,853,207
Common Stock, shares outstanding	1,853,207	1,853,207

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating expenses
Professional fees	$ (46,888)	$ (46,003)
Total operating expenses	(46,888)	(46,003)
Net (loss)	$ (46,888)	$ (46,003)
(Loss) per common share, basic and diluted	$ (.03)	$ (0.02)
Weighted average shares outstanding, Basic and diluted	1,853,207	1,853,207

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' (DEFICIT) - USD ($)	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance, beginning at Dec. 31, 2015		$ 1,853	$ 675,779	$ (782,172)	$ (104,540)
Capital contributed to support operations			19,711		19,711
Net loss				(46,003)	(46,003)
Balance, ending at Dec. 31, 2016		1,853	695,490	(828,175)	(130,832)
Capital contributed to support operations			21,796		21,796
Net loss				(46,888)	(46,888)
Balance, ending at Dec. 31, 2017		$ 1,853	$ 717,286	$ (875,063)	$ (155,924)

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities
Net (loss)	$ (46,888)	$ (46,003)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities:
Increase in accrued expenses	25,092	26,292
Accrued expenses paid by shareholder	21,796	19,711
Net cash (used) in operating activities	0	0
Cash Flows from Financing Activities
Net increase in cash	0	0
Cash - beginning of period	0	0
Cash - end of period	0	0
Noncash financing activities:
Additional capital contribution for payment of accrued expenses directly by shareholder	$ 21,796	$ 19,711

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	1. GENERAL Organization and Business Nature USA Zhimingde International Group Corporation (formerly, Marketing Acquisition Corporation) (the “Company”) was incorporated on July 26, 1990 in accordance with the laws of the State of Florida as Marketing Educational Corp. On June 13, 2006, the Company was reincorporated by merger in the State of Nevada. The Company was originally formed for the purpose of direct marketing of certain educational materials and photography packages. During 1991, the Company completed a public offering of 150,000 units of common stock, through a Registration Statement on Form S-18 (Registration No.33-37039-A). The Company has had no operations since 1992 and is currently a “shell company” as defined in Rule 405 under the Securities Act of 1933 (“Securities Act”) and Rule 12b-2 under the Securities Exchange Act of 1934 (“Exchange Act”). The Company is defined as a shell company because it has no operations or assets. On December 7, 2012, USA Zhimingde International Group Inc., a New Jersey corporation (“Zhimingde Inc.”) purchased 1,687,502 shares of the Company’s common stock from Halter Financial Investments, L.P., Glenn A. Little and The Halter Group, Inc. pursuant to a Securities Purchase Agreement (the “Purchase”). Following the Purchase, Zhimingde Inc. owned approximately 91% of the voting securities of the Company. The Purchase resulted in a change in control of the Company. Subsequently, the Company changed its name to USA Zhimingde International Group Corporation effective on February 4, 2013.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
ACCOUNTING POLICIES	2. ACCOUNTING POLICIES Basis of Accounting and Presentation The accompanying financial statements have been prepared using the accrual basis in accordance with accounting principles generally accepted in the United States of America. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2017 and 2016, the Company does not have any cash or cash equivalents. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the period. Actual results could differ from these estimates. Income Taxes The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 740, “ Income Taxes The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of December 31, 2017 and 2016. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date. Net Earnings (Loss) Per Share The Company computes net income (loss) per common share in accordance with FASB ASC 260, “ Earnings per Share Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “ Fair Value Measurements and Disclosures ASC 820 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities. ● Level 2 - inputs other than quoted prices in active markets that are observable either directly or indirectly. ● Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including accrued expenses, approximated its fair value due to the short maturity of these financial instruments. There were no changes in methods or assumptions during the periods presented.

RECENTLY ISSUED ACCOUNTING STAN

RECENTLY ISSUED ACCOUNTING STANDARDS	12 Months Ended
	Dec. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENTLY ISSUED ACCOUNTING STANDARDS	3. RECENTLY ISSUED ACCOUNTING STANDARDS In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This ASU addresses the classification of certain specific cash flow issues including debt prepayment or extinguishment costs, settlement of certain debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of certain insurance claims and distributions received from equity method investees. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. An entity that elects early adoption must adopt all of the amendments in the same period. The Company is currently evaluating the effect this ASU will have on its consolidated statement of cash flows. In April, 2016, the FASB issued ASU No. 2016-10, Revenue with Contracts with Customers: Identifying Performance Obligations and Licensing, which is an amendment to ASU No. 2014-09 that clarifies the aspects of identifying performance obligations and the licensing implementing guidance, while retaining the related principles within those areas. The implementation guidelines follow ASU No. 2014-09. In February 2016, the FASB issued ASU No. 2016-02, Leases. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. This accounting standard update is not expected to have a material impact on the Company’s financial statements. In November 2015, the FASB issued ASU No. 2015-17 ,

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	4. RELATED PARTY TRANSACTIONS During the years ended December 31, 2017 and 2016, the Company received additional capital contributions to support its operations from its major stockholder or his affiliates of $21,796 and $19,711, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	5. INCOME TAXES The provision (benefit) for income taxes consisted of the following for the years ended December 31, 2017 and 2016: 2017 2016 Current $ — $ — Deferred 67,300 (19,300 ) Change in valuation allowance (67,300 ) 19,300 Income tax provision (benefit) $ — $ — The Company uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. There is a $67,200 net decrease in the deferred tax assets during the year ended December 31, 2017 due to the change of the Federal corporate tax rate from 34% to 21%. The following table reconciles the effective income tax rates with the statutory rates for the years ended December 31: 2017 2016 U.S. federal statutory rate 21.0 % 42.0 % Change in valuation allowance (21.0 ) (42.0 ) Effective income tax rate — % — % Deferred tax assets are comprised of the following: December 31, 2017 2016 Net operating loss carryforwards $ 85,600 $ 152,900 Valuation allowance (85,600 ) (152,900 ) Net deferred tax assets $ — $ — At December 31, 2017, the Company had approximately $408,000 of federal net operating losses that may be available to offset future taxable income. The Federal net operating loss carryover, if not utilized, will expire beginning in 2027. Through 2036, the amount and utilization of any future net operating loss carry-forwards may be subject to limitations set forth by the Internal Revenue Code. Based upon an analysis of the Company’s stock ownership activity through December 31, 2012, a change of ownership was deemed to have occurred in 2012. This change of ownership created an annual limitation of substantially all of the Company’s net operating losses which are available through 2036. The Company assesses the likelihood that deferred tax assets will be realized. To the extent that realization is not likely, a valuation allowance is established. Based upon the Company’s losses since inception, management believes that it is more likely than not that future benefit of the deferred tax asset will not be realized principally due to the continuing losses from operations and the change of ownership limitations and has therefore established a full valuation allowance. The valuation allowance was decreased by $ 67,300 during the year ended December 31, 2017 and increased by $19,300 during the years ended December 31, 2016. The tax years ended December 31, 2014, 2015 and 2016 remain open to examination by the taxing authorities.

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting and Presentation	Basis of Accounting and Presentation The accompanying financial statements have been prepared using the accrual basis in accordance with accounting principles generally accepted in the United States of America.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2017 and 2016, the Company does not have any cash or cash equivalents.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 revenue and expenses during the period. Actual results could differ from these estimates.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 740, “ Income Taxes The Company accounts for uncertain tax positions in accordance with ASC Section 740-10, which prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The guidance also prescribes direction on de-recognition, classification, and accounting for interest and payables in the financial statements. The Company classifies interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No interest or penalties have been recognized as of December 31, 2017 and 2016. The Company does not expect any significant changes in unrecognized tax benefits within twelve months of the reporting date.
Net Earnings (Loss) Per Share	Net Earnings (Loss) Per Share The Company computes net income (loss) per common share in accordance with FASB ASC 260, “ Earnings per Share
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “ Fair Value Measurements and Disclosures ASC 820 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value as follows: ● Level 1 - quoted prices in active markets for identical assets or liabilities. ● Level 2 - inputs other than quoted prices in active markets that are observable either directly or indirectly. ● Level 3 - inputs based on prices or valuation techniques that are both unobservable and significant to the fair value markets. The Company did not identify any assets or liabilities that are required to be presented at fair value on a recurring basis. Carrying values of non-derivative financial instruments, including accrued expenses, approximated its fair value due to the short maturity of these financial instruments. There were no changes in methods or assumptions during the periods presented.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of provision (benefit) for income taxes	The provision (benefit) for income taxes consisted of the following for the years ended December 31, 2017 and 2016: 2017 2016 Current $ — $ — Deferred 67,300 (19,300 ) Change in valuation allowance (67,300 ) 19,300 Income tax provision (benefit) $ — $ —
Schedule of reconciliation of effective income tax rates with statutory rates	The following table reconciles the effective income tax rates with the statutory rates for the years ended December 31: 2017 2016 U.S. federal statutory rate 21.0 % 42.0 % Change in valuation allowance (21.0 ) (42.0 ) Effective income tax rate — % — %
Schedule of deferred tax assets (liabilities)	Deferred tax assets are comprised of the following: December 31, 2017 2016 Net operating loss carryforwards $ 85,600 $ 152,900 Valuation allowance (85,600 ) (152,900 ) Net deferred tax assets $ — $ —

GENERAL (Details Narrative)

GENERAL (Details Narrative) - shares	Dec. 07, 2012	Dec. 31, 1991
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Public offering of units through Registration Statement		150,000
Common stock purchased, shares	1,687,502
Ownership acquired	91.00%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Major Stockholders or Affiliates
Capital contributed to support operations	$ 21,796	$ 19,711

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Decrease in deferred tax asset due to change in federal tax rate	$ 67,200
Statutory tax rate	21.00%	42.00%
Federal [Member]
Net operating loss carryforwards	$ 408,000
Statutory tax rate	34.00%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred	$ 67,300	$ (19,300)
Change in valuation allowance	$ (67,300)	$ 19,300

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory rate	21.00%	42.00%
Change in valuation allowance	(21.00%)	(42.00%)
Effective income tax rate

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 85,600	$ 152,900
Valuation allowance	(85,600)	(152,900)
Net deferred tax assets

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Going Concern
Working capital deficiency	$ 155,924
Total stockholders' (deficit)	(155,924)	$ (130,832)	$ (104,540)
Net (loss)	$ (46,888)	$ (46,003)