Document_and_Entity_Informatio
Document and Entity Information (USD $) | 3 Months Ended | |
Mar. 31, 2015 | 20-May-15 | |
Document And Entity Information | ||
Entity Registrant Name | CAM Group, Inc. | |
Entity Central Index Key | 1419559 | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -19 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Public Float | $6,560,750 | |
Entity Common Stock, Shares Outstanding | 25,295,000 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2015 |
Balance_Sheets
Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Cash and cash equivalent | $2,054,662 | $411,000 |
Accounts receivable | 1,649,724 | |
Accounts receivable - related party | 1,696,129 | 1,693,889 |
Advances to suppliers | 1,476,068 | 1,474,118 |
Prepayment and deposits | 653 | 1,066 |
Advanced to related parties | 5,344,683 | 5,287,478 |
Other receivable | 2,302 | 2,299 |
Total Current Assets | 10,574,497 | 10,519,574 |
Plant and Equipment, Net | 87,971 | 97,012 |
Total Assets | 10,662,468 | 10,616,586 |
Accounts payables and accrued expenses | 45,861 | 51,572 |
Other payables - related party | 39,197 | 39,145 |
Due to shareholders | 1,042,701 | 929,082 |
Due to related parties | 64,297 | 57,921 |
Income tax payable | 1,630,411 | 1,628,257 |
Total Liabilities | 2,822,467 | 2,705,977 |
Preferred stock, $.001 par value, 10,000,000 shares authorized, 1,000,000 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively | 1,000 | 1,000 |
Common stock, $.001 par value, 90,000,000 shares authorized, 25,295,000 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively | 25,295 | 25,295 |
Additional paid-in capital | 556,790 | 556,790 |
Accumulated other comprehensive income | 37,196 | 28,503 |
Retained earnings (deficits) | 7,074,925 | 7,152,813 |
Non-controlling interest | 144,795 | 146,208 |
Total Equity | 7,840,001 | 7,910,609 |
Total Liabilities and Equity | $10,662,468 | $10,616,586 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, par value | $0.00 | $0.00 |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 1,000,000 | 1,000,000 |
Preferred Stock, shares outstanding | 1,000,000 | 1,000,000 |
Common Stock, par value | $0.00 | $0.00 |
Common Stock, shares authorized | 90,000,000 | 90,000,000 |
Common Stock, shares issued | 25,295,000 | 25,295,000 |
Common Stock, shares outstanding | 25,295,000 | 25,295,000 |
Statements_of_Operations
Statements of Operations (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Revenue | ||
Advertising revenues from AMP | ||
Revenues - sales of fertilizer from AMP | ||
Revenues - sales of fertilizer | ||
Total revenues | ||
Cost of revenues - advertising | ||
Cost of revenues - sales of fertilizer from AMP | ||
Cost of revenues - sales of fertilizer | ||
Gross profit | ||
Operating expenses: | ||
Selling, general & administrative expenses | 129,493 | 135,373 |
Total operating expenses | 129,493 | 135,373 |
Operating (loss) / income | -129,493 | -135,373 |
Other income (expenses) | ||
Interest income (expenses) | 202 | |
Interest income - related party | 50,015 | |
(Income) Loss from currency exchange | 129 | |
Total other income (expenses) | 50,015 | 331 |
(Loss) Income before income tax | -79,478 | -135,042 |
Income tax expense | ||
Net (loss) ncome | -77,888 | -132,341 |
Less: Net income attributable to noncontrolling interests | -1,590 | -2,701 |
Net income attributable to CAM Group common shareholders | -77,888 | -132,341 |
Net income (loss) per share: | ||
Basic | ($0.01) | |
Diluted | ($0.01) | |
Weighted average number of shares Basic and diluted | ||
Basic | 25,295,000 | 25,295,000 |
Diluted | 25,295,000 | 25,295,000 |
Comprehensive income: | ||
Net (loss) income | -77,888 | -132,341 |
Foreign currency translation adjustment | 8,870 | -138,593 |
Comprehensive income | -70,608 | -273,635 |
Comprehensive income attributable to noncontrolling interests | -1,413 | -5,473 |
Comprehensive income attributable to CAM Group | ($69,195) | ($268,162) |
Statements_of_Cash_Flows
Statements of Cash Flows (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Statement of Cash Flows [Abstract] | ||
Net income (loss) | ($77,888) | ($132,341) |
Depreciation | 9,115 | 6,327 |
Accounts receivables | 1,641,999 | |
Advanced to suppliers | 460 | |
Prepayments and Other receivable | 411 | -983 |
Accounts payable and accrued expenses | -5,728 | 14,272 |
Net cash (used in) provided by operating activities | 1,566,319 | 114,410 |
Cash flow from investing activities | ||
Advanced to related parties | -49,910 | -5,171,512 |
Net cash (used in) investing activities | -49,910 | -5,171,512 |
Proceeds from shareholders loan payable | 111,717 | 103,526 |
Proceeds from related party loan payable | 6,262 | 2,009 |
Net cash provided by financing activities | 117,979 | |
Effect of changes in exchange rate | 9,274 | -1,012 |
Net (decrease)/ increase in cash and cash equivalents | 1,643,662 | -5,181,399 |
Cash and cash equivalents at the beginning of the year | 411,000 | 5,600,286 |
Cash and cash equivalents at the end of the year | 2,054,662 | 418,887 |
Cash paid for interest | ||
Cash paid for income taxes |
1_BASIS_OF_PRESENTATION_USD
1. BASIS OF PRESENTATION (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Business Combinations [Abstract] | |
1. BASIS OF PRESENTATION | |
1. BASIS OF PRESENTATION | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with both generally accepted accounting principles for interim financial information, and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. | |
The unaudited condensed consolidated financial statements and related disclosures have been prepared with the presumption that users of the interim financial information have read or have access to the Company’s annual audited consolidated financial statements for the preceding fiscal year. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2014. |
2_ORGANIZATION_AND_BUSINESS_BA
2. ORGANIZATION AND BUSINESS BACKGROUND (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
2. ORGANIZATION AND BUSINESS BACKGROUND | |
2. ORGANIZATION AND BUSINESS BACKGROUND | |
CAM Group Inc. (the “Company” or “CAMG”) was originally incorporated as Savannah River Technologies, Inc. under the laws of the State of South Carolina on March 2, 1995. On July 20, 2007, the Company formed a corporation pursuant to the laws of the State of Nevada having a par value of $0.001 for both the preferred and common stock. On August 11, 2007, the stockholders of the Company approved a change of corporate domicile which resulted in the dissolution of the South Carolina Corporation and the Company became domiciled in the State of Nevada. On September 13, 2012, the Company changed its name to CAM Group Inc. to more accurately reflect its business after a stock exchange transaction with CAM Group set forth below. | |
On April 17, 2012, CAMG completed a stock exchange transaction with China Agriculture Media Group Co., Ltd (“CAM Group”). CAM Group is organized and exists under the laws of Hong Kong Special Administrative Region of the People’s Republic of China (the “PRC”), which was incorporated on March 30, 2011. CAM Group is an investment holding company, whose only asset is 100% equity interest in China Agriculture Media (Hong Kong) Group Co. Ltd. (“CAM HK”). CAM HK is an investment holding company organized and exists under the laws of Hong Kong Special Administrative Region of PRC, with its only asset being a 98% equity interest in China Agriculture Media (Hebei) Co. Ltd. (“CAM Hebei”). CAM Hebei was established in the Hebei Province, PRC on November 28, 2011 as a Chinese domestic enterprise. | |
The stock exchange transaction involved two simultaneous transactions: | |
CAMG issued to CAM Group Shareholders an amount equal to 22,500,000 new investment shares of Common Stock of CAMG and 1,000,000 shares of CAMG super-voting Preferred Stock in exchange for one hundred percent (100%) of the issued and outstanding share capital of CAM Group from CAM Group Shareholders. | |
CAMG issued 1,607,853 shares of Common Stock to CAMG prior management and an advisor for services previously rendered. Simultaneously, Angela Ross, the former Chief Executive Officer of CAMG, returned 2,500,000 shares of Common stock to the CAMG treasury for immediate cancelation. | |
Upon completion of the exchange, CAM Group and its subsidiaries became subsidiaries of CAMG and the former owners of CAM Group then owned a ‘controlling interest’ in CAMG representing 98% of the voting shares of CAMG and 90% of the issued and outstanding shares of Common Stock. | |
The stock exchange transaction has been accounted for as a reverse acquisition and recapitalization of CAMG whereby CAM Group is deemed to be the accounting acquirer (legal acquiree) and CAMG to be the accounting acquiree (legal acquirer). The accompanying consolidated financial statements are in substance those of CAM Group and its subsidiaries, with the assets, liabilities, revenues and expenses, of CAMG being included effective from the date of stock exchange transaction. Accordingly, the financial position, results of operations, and cash flows of the accounting acquirer are included for all periods presented as if the recapitalization had occurred at the beginning of the earliest period presented and the operations of the accounting acquiree are included from the date of stock exchange transaction. | |
CAMG, CAM Group, CAM HK and CAM Hebei are hereafter collectively referred to as the “Company”. |
3_RECENT_ISSUED_ACCOUNTING_STA
3. RECENT ISSUED ACCOUNTING STANTARDS | 3 Months Ended |
Mar. 31, 2015 | |
Prospective Adoption of New Accounting Pronouncements [Abstract] | |
3. RECENT ISSUED ACCOUNTING STANTARDS | |
3. RECENTLY ISSUED ACCOUNTING STANDARDS | |
The Company has reviewed all recently issued, but not yet effective, accounting pronouncements up to ASU 2015-08, and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its consolidated financial condition or the consolidated results of its operations. |
4_CASH_AND_CASH_EQUIVALENTS
4. CASH AND CASH EQUIVALENTS | 3 Months Ended |
Mar. 31, 2015 | |
Cash and Cash Equivalents [Abstract] | |
4. CASH AND CASH EQUIVALENTS | |
4. CASH AND CASH EQUIVALENTS | |
As of March 31, 2015, the cash balance was $2,054,662, of which $143,876 was held in major financial institutions located in Hong Kong, and $1,902,229 was held in major financial institutions located in the PRC and $8,557 as petty cash. | |
These bank balances are not insured. The remittance of these funds out of China is subject to exchange control restrictions imposed by the Chinese government. Management believes that the major financial institutions in the PRC and Hong Kong have acceptable credit ratings. |
5_ADVANCED_TO_SUPPLIERS
5. ADVANCED TO SUPPLIERS | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
5. ADVANCED TO SUPPLIERS | |
5. ADVANCED TO suppliers | |
As of March 31, 2015 and December 31, 2014, the Company had advanced to a supplier in the amount of $1,476,068 and $1,474,118, respectively, representing the deposits made to the supplier pursuant to fertilizer contracts in order to secure lower price of fertilizer. |
6_ADVANCED_TO_RELATED_PARTY
6. ADVANCED TO RELATED PARTY | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
6. ADVANCED TO RELATED PARTY | |
6. ADVANCED TO RELATED PARTY | |
As of March 31, 2015, the Company had a loan advance to Parko (Hong Kong) Limited (“Parko”), Hebei AMP’s business affiliate for $5,344,683, consisting of principal of $5,090,838 and accrued interest receivable of $253,845. The loan advance to Parko is due on January 14, 2015 with interest at a rate of 4% per annum. Accordingly, the Company recorded interest income of $49,910 during the three months ended March 31, 2015. The principal and accrued interest receivable of this loan was collected in full during the second quarter of 2015. | |
7_PROPERTY_PLANT_AND_EQUIPMENT
7. PROPERTY, PLANT AND EQUIPMENT | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
7. PROPERTY, PLANT AND EQUIPMENT | |||||||||
7. PROPERTY, PLANT AND EQUIPMENT | |||||||||
Property, plant and equipment are comprised of the following amounts at the respective dates: | |||||||||
As of | |||||||||
31-Mar-15 | 31-Dec-14 | ||||||||
Cost: | |||||||||
Computer equipment and software | $ | 13,433 | $ | 12,879 | |||||
Advertising equipment | 165,038 | 164,821 | |||||||
Construction in progress | 0 | 535 | |||||||
Total | 178,471 | 178,235 | |||||||
Accumulated depreciation | (90,500 | ) | (81,223 | ) | |||||
Net | $ | 87,971 | $ | 97,012 | |||||
During the three months ended March 31, 2015 and 2014, the Company had depreciation expenses of $9,115 and $6,327, respectively. | |||||||||
8_RELATED_PARTY_BALANCES_AND_T
8. RELATED PARTY BALANCES AND TRANSACTIONS WITH MAJOR SHAREHOLDERS | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Related Party Transaction, Due from (to) Related Party [Abstract] | |||||||||
8. RELATED PARTY BALANCES AND TRANSACTIONS WITH MAJOR SHAREHOLDERS | |||||||||
8. RELATED PARTY BALANCES AND TRANSACTIONS WITH MAJOR SHAREHOLDERS | |||||||||
Due to related parties as of March 31, 2015 and December 31, 2014 consisted of following: | |||||||||
As of | |||||||||
31-Mar-15 | 31-Dec-14 | ||||||||
Hebei AMP (a) | $ | 64,297 | $ | 57,921 | |||||
PMI (b) | 924,942 | 811,478 | |||||||
Shareholder (c) | 117,759 | 117,604 | |||||||
Total | $ | 1,106,998 | $ | 987,003 | |||||
(a) Hebei Agricultural Means of Production Co. Ltd. | |||||||||
Hebei Agricultural Means of Production Co. Ltd. (“Hebei AMP”) indirectly owns 2% capital interest of CAM Hebei, through its wholly-owned subsidiary, Shijiazhuang Qijin Cultural Presentation Inc. Hebei AMP has common management of the Company as follows: | |||||||||
Mr. Peng Guo Jiang holds approximate 36% of CAMG common stock and 38% of CAM preferred stock as a trustee holding the shares for Hebei AMP. | |||||||||
As of March 31, 2015 and December 31, 2014, the balance due to Hebei AMP was $64,297 and $57,921, respectively. | |||||||||
(b) | Precursor Management Inc. | ||||||||
On March 30, 2011, the Company entered into an agreement with Precursor Management Inc. (“PMI”) which is controlled by the Company’s former President and is also a shareholder of the Company. Since March 2011, PMI has assisted the Company with listing on the over the counter stock market and SEC compliance work, and paid for the Company’s expenses related to daily operations. The agreement expired in March 2013. During the three months ended March 31, 2015, the Company borrowed $111,717 from PMI to pay for its daily operations. The fund borrowed from PMI was not evidenced by a promissory note, but rather was an oral agreement between PMI and the Company and due on demand. As of March 31, 2015 and December 31, 2014, the outstanding balance due to PMI was $924,942 and $811,478, respectively. | |||||||||
(c) | Due to shareholder | ||||||||
In addition, the Company had outstanding balances of $117,759 due to the Company’s former President as of March 31, 2015. The funds borrowed from the Company’s former President were to fund the Company’s operations. The balance due to shareholder was not evidenced by a promissory note, but rather was an oral agreement between the shareholder and the Company and due on demand. On July 29, 2013, the President resigned as President, director and Secretary of the Company due to his personal reason, without any specific disagreement with the Company on any matter. | |||||||||
Fertilizer Agreements - Related Party | |||||||||
Hebei AMP was the major customer of the Company for sales of fertilizer in 2014. The Company recognized revenues generated from sales of fertilizer in gross basis, given that the Company had credit risk in the transaction and had been responsible for the acceptability of the fertilizer during the transaction. As of March 31, 2015, the Company had accounts receivable of $1,696,129 from Hebei AMP. There were no revenues generated from sales of fertilizer during the three months ended March 31, 2015. | |||||||||
Other payable - Related Party | |||||||||
As of March 31, 2015, the Company had other payable to Parko, Hebei AMP’s business affiliate, in amount of $39,197. | |||||||||
9_EARNINGS_PER_SHARE
9. EARNINGS PER SHARE | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
9. EARNINGS PER SHARE | 9. EARNINGS PER SHARE | ||||||||
Basic net income per share is computed using the weighted average number of the common shares outstanding during the periods. Diluted net income per share is computed using the weighted average number of all dilutive common stock equivalents during the periods. The Company had no dilutive common stock equivalents as of March 31, 2015. | |||||||||
The following table sets forth the computation of basic net (loss) per share for the periods ended March 31, 2015 and 2014, respectively. | |||||||||
For the periods ended | |||||||||
31-Mar-15 | 31-Mar-14 | ||||||||
Net (loss) attributable to common shareholders | $ | (77,888 | ) | $ | (132,341 | ) | |||
Net (loss) per Share | |||||||||
Basic and diluted | ** | $ | (0.01 | ) | |||||
Weighted Average Number of Shares Outstanding | |||||||||
Basic and diluted | 25,295,000 | 25,295,000 | |||||||
10_CONCENTRATION_AND_RISK
10. CONCENTRATION AND RISK | 3 Months Ended |
Mar. 31, 2015 | |
Risks and Uncertainties [Abstract] | |
10. CONCENTRATION AND RISK | |
10. CONCENTRATION AND RISK | |
For the three months ended March 31, 2015, 100% of the Company’s assets were located in the PRC. |
11_SEGMENTS
11. SEGMENTS | 3 Months Ended |
Mar. 31, 2015 | |
Segment Reporting [Abstract] | |
11. SEGMENTS | 14. SEGMENTS |
The Company determined that it did not operate in any material, separately reportable operating segments as of March 31, 2015. |
12_SUBSEQUENT_EVENTS
12. SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
12. SUBSEQUENT EVENTS | 15. SUBSEQUENT EVENTS |
In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to March 31, 2015 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
7_PROPERTY_PLANT_AND_EQUIPMENT1
7. PROPERTY, PLANT AND EQUIPMENT (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property Plant And Equipment Tables | |||||||||
8. PROPERTY, PLANT AND EQUIPMENT | |||||||||
As of | |||||||||
31-Mar-15 | 31-Dec-14 | ||||||||
Cost: | |||||||||
Computer equipment and software | $ | 13,433 | $ | 12,879 | |||||
Advertising equipment | 165,038 | 164,821 | |||||||
Construction in progress | 0 | 535 | |||||||
Total | 178,471 | 178,235 | |||||||
Accumulated depreciation | (90,500 | ) | (81,223 | ) | |||||
Net | $ | 87,971 | $ | 97,012 | |||||
Recovered_Sheet1
8. Related Party Balances and Transacrions (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Related Party Balances And Transacrions Tables | |||||||||
9. Related Parties Balances and Transactions | |||||||||
As of | |||||||||
31-Mar-15 | 31-Dec-14 | ||||||||
Hebei AMP (a) | $ | 64,297 | $ | 57,921 | |||||
PMI (b) | 924,942 | 811,478 | |||||||
Shareholder (c) | 117,759 | 117,604 | |||||||
Total | $ | 1,106,998 | $ | 987,003 |
9_EARNINGS_PER_SHARE_USD_Table
9. EARNINGS PER SHARE (USD $) (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings per share | |||||||||
For the periods ended | |||||||||
31-Mar-15 | 31-Mar-14 | ||||||||
Net (loss) attributable to common shareholders | $ | (77,888 | ) | $ | (132,341 | ) | |||
Net (loss) per Share | |||||||||
Basic and diluted | ** | $ | (0.01 | ) | |||||
Weighted Average Number of Shares Outstanding | |||||||||
Basic and diluted | 25,295,000 | 25,295,000 |
7_PROPERTY_PLANT_AND_EQUIPMENT2
7. PROPERTY, PLANT AND EQUIPMENT (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Abstract] | |||
Computer equipment and software | $13,433 | $12,879 | |
Advertising equipment | 165,038 | 164,821 | |
Construction in progress | 535 | ||
Total | 178,471 | -81,223 | |
Accumulated depreciation | -90,500 | -81,223 | |
Net | $87,971 | $97,012 | $97,012 |
8_RELATED_PARTY_BALANCES_AND_T1
8. RELATED PARTY BALANCES AND TRANSACTIONS (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Related Party Balances And Transactions Details | ||
Due to related parties | $64,297 | $57,921 |
Outstanding amount due to PMI | 924,942 | 811,478 |
Due to shareholder | 117,759 | 117,604 |
Total | $1,106,998 | $987,003 |
9_EARNINGS_PER_SHARE_Details
9. EARNINGS PER SHARE (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share Details | ||
Net (loss) income | ($77,888) | ($132,341) |
Net (loss) income per share, Basic | ($0.01) | |
Net (loss) income per share, Diluted | ($0.01) | |
Weighted average number of shares, Basic | 25,295,000 | 25,295,000 |
Weighted average number of shares, Diluted | 25,295,000 | 25,295,000 |
2_ORGANIZATION_AND_BUSINESS_BA1
2. ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Apr. 17, 2012 | Jul. 20, 2007 |
Common stock issued | 25,295,000 | 25,295,000 | ||
Preferred stock issued | 1,000,000 | 1,000,000 | 1,000,000 | |
Par value for both preferred and common stock | $0.00 | |||
Percentage of equity interest | 100 | |||
Shares issued, acquisition | 22,500,000 | |||
Preferred stock aquisition | 1,000,000 | 1,000,000 | 1,000,000 | |
Common stock shares returned | 2,500,000 | |||
Controlling interest | 98 | |||
Percentage of issued and outstanding shares | 90 | |||
CAMG | ||||
Common stock issued | 22,500,000 | |||
Percentage of equity interest | 98 |
4_CASH_AND_CASH_EQUIVALENTS_De
4. CASH AND CASH EQUIVALENTS (Details Narrative) (USD $) | Mar. 31, 2015 |
Cash and Cash Equivalents [Abstract] | |
Cash balance | $2,054,662 |
Cash held in financial institutions in Hong Kong | 143,876 |
Cash held in mayor financial institutions located in PRC | 1,902,229 |
Petty Cash | $8,557 |
5_ADVANCE_TO_SUPPLIERS_Details
5. ADVANCE TO SUPPLIERS (Details Narrative) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Notes to Financial Statements | ||
Advanced amount | $1,476,068 | $1,474,118 |
6_ADVANCED_TO_RELATED_PARTY_De
6. ADVANCED TO RELATED PARTY (Details Narrative) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Loan Advanced :Parko (Hong Kong) | $5,344,683 |
Principal amount of loan | 5,090,838 |
Interest receivable | 253,845 |
Interest Rate | 4 |
Interest Income | $49,910 |
7_PROPERTY_PLANT_AND_EQUIPMENT3
7. PROPERTY, PLANT AND EQUIPMENT - (Details Narrative) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $9,115 | $6,327 |
8_RELATED_PARTY_BALANCES_AND_T2
8. RELATED PARTY BALANCES AND TRANSACTIONS (Details Narrative) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Related Party Transactions [Abstract] | ||
Percentage of holding in CAM Hebei | 200.00% | |
Percentage hold by Mr. Peng Guo Jiang - Common Stock | 3600.00% | |
Percentage hold by Mr. Peng Guo Jiang - Preferred Stock | 3800.00% | |
Due to related parties | $64,297 | $57,921 |
Amount borrowed from PMI | 111,717 | |
Outstanding amount due to PMI | 924,942 | 811,478 |
Due to shareholder | 117,759 | 117,604 |
Accounts receivable from (Hebei AMP) | 1,696,129 | |
Other payables (Parko,Hebei AMP) | $39,197 |
10_CONCENTRATION_AND_RISK_Deta
10. CONCENTRATION AND RISK (Details Narrative) | 3 Months Ended |
Mar. 31, 2015 | |
Concentration And Risk Details Narrative | |
Percentage of Company's assets located in the PRC | 100 |