Sino Green Land (SGLA) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-53208
Entity Registrant Name	SINO GREEN LAND CORP.
Entity Central Index Key	0001433551
Entity Tax Identification Number	54-0484915
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	No. 3 & 5
Entity Address, Address Line Two	Jalan Hi Tech 7/7
Entity Address, Address Line Three	Kawasan Perindustrian Hi Tech 7
Entity Address, City or Town	Semenyih, Selangor,
Entity Address, Country	MY
Entity Address, Postal Zip Code	43500
City Area Code	603
Local Phone Number	8727 8732
Title of 12(b) Security	Common Stock, $0.50 par value
Trading Symbol	SGLA
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	true
Entity Bankruptcy Proceedings, Reporting Current	false
Entity Common Stock, Shares Outstanding	1,460,079

Balance Sheets

Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Assets
Prepayment	$ 548
Total Assets	548
Liabilities
Accounts payable and accrued expenses	13,200	26,602
Amount due to related party	185,457	160,397
Total Current Liabilities	198,657	186,999
Total Liabilities	198,657	186,999
Stockholders’ Deficit
Common stock, $0.50 par value; 780,000,000 shares authorized; 1,460,079 issued and outstanding, respectively	730,039	730,039
Preferred stock, $0.50 par value; 20,000,000 shares authorized; 2,520 issued and outstanding, respectively	1,260	1,260
Additional paid-in capital	35,916,149	35,916,149
Accumulated deficit	(36,845,557)	(36,834,447)
Total Stockholders’ Deficit	(198,109)	(186,999)
Total Liabilities and Stockholders’ Deficit	$ 548

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.50	$ 0.50
Common stock, shares authorized	780,000,000	780,000,000
Common stock, shares issued	1,460,079	1,460,079
Common stock, shares outstanding	1,460,079	1,460,079
Preferred stock, par value	$ 0.50	$ 0.50
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	2,520	2,520
Preferred stock, shares outstanding	2,520	2,520

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenues
Operating Expenses
Other General & Administrative Expense	7,903	82,807	11,110	85,613
Total Operating Expenses	7,903	82,807	11,110	85,613
Profit/(Loss) from operations	(7,903)	(82,807)	(11,110)	(85,613)
Other Income/(Expenses)
Total Other Income/(Expenses)
Net Income/(Loss) before Income Taxes	(7,903)	(82,807)	(11,110)	(85,613)
Income Tax Benefit
Net Income/(Loss)	$ (7,903)	$ (82,807)	$ (11,110)	$ (85,613)
Net Loss per Common Share - Basic and Diluted
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	1,460,079	730,039,317	1,460,079	730,039,317

Statements of Stockholders' Def

Statements of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 730,039	$ 1,260	$ 35,916,149	$ (36,651,121)	$ (3,673)
Balance, shares at Dec. 31, 2019	730,039,317	1,259,858
Net loss				(39,343)	(39,343)
Balance,  June 30, 2022 at Dec. 31, 2020	$ 730,039	$ 1,260	35,916,149	(36,690,464)	(43,016)
Balance, shares at Dec. 31, 2020	730,039,317	1,259,858
Net loss				(143,983)	(143,983)
Balance,  June 30, 2022 at Dec. 31, 2021	$ 730,039	$ 1,260	35,916,149	(36,834,447)	(186,999)
Balance, shares at Dec. 31, 2021	730,039,317	1,259,858
Net loss				(11,110)	(11,110)
Balance,  June 30, 2022 at Jun. 30, 2022	$ 730,039	$ 1,260	$ 35,916,149	$ (36,845,557)	$ (198,109)
Balance, shares at Jun. 30, 2022	1,460,079	2,520

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities
Net Loss	$ (7,903)	$ (82,807)	$ (11,110)	$ (85,613)	$ (143,983)	$ (39,343)
Changes in Operating Assets and Liabilities
Prepayment			(548)
Accounts payable and accrued expenses			(13,402)	39,613
Amount due to director				46,000
Amount due to related party			25,060
Net Cash Used in Operating Activities
Net Increase (Decrease) in Cash
Cash at Beginning of Period
Cash at End of Period

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND OPERATIONS	NOTE 1 - ORGANIZATION AND OPERATIONS Sino Green Land Corporation formerly known as Go Silver Toprich Holding Inc. (the “Company”) The Company was engaged in wholesale distribution, marketing and sales of premium fruits in China. In 2013, the management decided to discontinued its prior operations and dissolved all the subsidiaries to better reflect its new business direction. The Company currently intends to seek for a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company’s financial statements have with principles accepted the United States America (“U.S. GAAP”). preparation financial statements conformity with accounting principles generally accepted United States America requires management make assumptions affect reported amounts liabilities of reported amounts of revenues and expenses during the reporting period. results could differ from estimates. Management further acknowledges that it is solely responsible for adopting sound accounting and maintaining system accounting control preventing detecting fraud. Company’s internal accounting control designed to assure, among items, 1) recorded transactions 2) valid are recorded; transactions recorded the financial fairly financial cash flows the Company the respective presented. Use of estimates The preparation financial statements conformity with principles generally accepted United States America management make estimates assumptions that assets liabilities liabilities statements amounts expenses reported period. The Company’s significant estimates include income provision valuation allowance assets; value financial instruments; the carrying value recoverability long-lived assets, including values assigned estimated lives equipment; assumption Company will concern. Those significant estimates assumptions attached estimates assumptions, estimates assumptions difficult measure Management estimates historical various assumptions believed reasonable under circumstances, results which form basis making judgments carrying values and liabilities that Management regularly reviews estimates utilizing currently available information, in circumstances, historical experience assumptions. After reviews, deemed estimates accordingly. results differ estimates. Carrying value, recoverability and impairment of long-lived assets The Company adopted paragraph FASB Accounting Standards Codification long-lived Company’s assets, which computer equipment reviewed impairment whenever events changes circumstances indicate that carrying amount may recoverable. The Company assesses recoverability long-lived comparing projected undiscounted flows associated with long-lived asset long-lived over remaining estimated lives against respective carrying amounts. Impairment, any, carrying amount value value determined expected discounted flows market value, readily determinable. long-lived determined recoverable, newly determined remaining estimated useful lives shorter estimated, values long-lived assets depreciated over newly determined estimated lives. The Company considers following some examples important indicators may impairment review: significant under-performance relative historical future results; significant manner Company’s overall with to acquired changes the Company’s overall business strategy; significant negative industry economic (iv) competitive (v) significant Company’s for sustained time; assets potential impairment more The impairment any, included expenses accompanying consolidated statements operations. Cash and cash equivalents The Company investments with maturity when to equivalents. Related parties The Company follows 850-10 FASB Standards Codification identification parties disclosure of related transactions. Pursuant to Section 850-10-20 Related include affiliates Company; Entities which investments equity would absent election fair value Fair Value Option Subsection Section accounted method investing entity; employees, pension profit-sharing managed management; principal owners the Company; management Company; parties with which may can significantly influence management policies extent transacting might own Other significantly influence management policies transacting have ownership in significantly influence extent more might prevented its own The financial statements include disclosures material party transactions, than compensation arrangements, allowances, similar items business. However, disclosure transactions eliminated consolidated statements statements. disclosures include: nature relationship(s) involved the transactions, including transactions which amounts nominal amounts which income presented, information deemed understanding effects the transactions financial statements; dollar amounts transactions periods which income statements and effects method establishing the terms preceding amounts sheet otherwise apparent, terms manner settlement. Commitments and contingencies The Company follows subtopic 450-20 FASB Accounting Standards Codification report for contingencies. Certain conditions may consolidated financial statements which may Company which will resolved when more events Company assesses such liabilities, and assessment inherently involves judgment. assessing loss contingencies to proceedings pending the Company unasserted claims may proceedings, Company evaluates the perceived merits any proceedings unasserted claims well perceived merits amount relief expected therein. If the assessment that material and estimated, estimated liability would the Company’s consolidated financial statements. assessment indicates material loss contingency is probable is reasonably possible, is estimated, liability, estimate losses, determinable material, would disclosed. Loss contingencies considered remote unless involve which case would disclosed. Management believe, information available time, that matters will have adverse the Company’s consolidated position, results flows. However, assurance such matters will materially the Company’s business, position, results operations cash flows. Revenue recognition The Company adopted ASU 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The adoption of Topic 606 has no impact on revenue amounts recorded on the Company’s financial statements as the Company has not generate any revenues. Income Tax Provisions The Company follows Section 740-10-30 FASB Standards Codification, which recognition deferred and liabilities expected consequences events have in statements liabilities between statement assets liabilities using the fiscal year which the expected Deferred valuation allowance extent management concludes more will realized. Deferred and liabilities measured enacted expected taxable income years which temporary expected recovered liabilities in Statements Income Comprehensive Income the enactment The Company Accounting Standards Codification (“Section with uncertainty income Section the determination whether benefits claimed expected claimed return financial statements. Under Section Company may recognize the position more likely will be on examination on merits position. recognized financial statements should measured benefit has realized ultimate settlement. Section provides guidance de-recognition, classification, and income taxes, accounting interim requires disclosures. Net income (loss) per common share Net income (loss) per common computed Accounting Standards Codification. Basic income (loss) common computed dividing income (loss) weighted average number common outstanding period. Diluted income per common computed dividing income weighted average common common weighted average common potentially common assumes Company beginning the The Convertible Preferred Stocks, warrants and stock options are not included in poten tially dilutive outstanding six months ended June 30, 2022 Cash flows reporting The Company Accounting Standards Codification flows classifies receipts payments whether investing, activities definitions category, indirect reconciliation method method”) FASB Accounting Standards Codification activities income reconcile cash from activities by removing of (a) deferrals receipts payments accruals expected payments income operating receipts payments. Company currency equivalent foreign flows, current exchange the time flows currencies separate the reconciliation beginning ending balances equivalents separately provides information investing financing receipts payments period pursuant paragraph the FASB Accounting Standards Codification.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN The accompanying statements have assuming Company will concern, which contemplates continuity realization assets, liquidation liabilities normal business. As reflected in the accompanying statements, Company accumulated , 2022 $ 36,845,557 . factors among substantial Company’s concern. While the Company has not commenced revenues, Company’s position may significant enough support Company’s daily Management additional way private Management believes to implement plan revenues provide Company concern. Company viability strategy revenues funds, can assurances of Company continue dependent Company’s implement plan revenues. The financial statements adjustments might necessary the Company continue concern.

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 4 – STOCKHOLDERS’ DEFICIT Common Stock The Company is authorized to issue 780,000,000 As of June 30, 2022, the Company has 1,460,079 Preferred Stock The Company is authorized to issue 20,000,000 As of June 30, 2022, the Company has 2,520 Prior to this, the Company had a reverse stock split of 500-to-1

RELATED PARTY TRANSACTION

RELATED PARTY TRANSACTION	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTION	NOTE 5 – RELATED PARTY TRANSACTION Mr. Luo Xiong, former CEO and director of the Company, have advanced working capital to pay expenses of the Company. The advances are due on demand and non-interest bearing. The outstanding amount due to related parties was $ 185,457

INCOME TAX

INCOME TAX	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 6 – INCOME TAX On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (“Tax Reform Act”). The legislation significantly changes U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system and imposing a transition tax on deemed repatriated earnings of foreign subsidiaries. The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 34% to a flat 21% rate, effective January 1, 2018. As a result of the reduction in the U.S. corporate income tax rate from 34% to 21 The Company has accumulated approximately $ 36,845,557

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 7 – SUBSEQUENT EVENTS The Company has evaluated subsequent events to the date the financial statements were issued and has determined that there are no items to disclose or require adjustments.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The Company’s financial statements have with principles accepted the United States America (“U.S. GAAP”). preparation financial statements conformity with accounting principles generally accepted United States America requires management make assumptions affect reported amounts liabilities of reported amounts of revenues and expenses during the reporting period. results could differ from estimates. Management further acknowledges that it is solely responsible for adopting sound accounting and maintaining system accounting control preventing detecting fraud. Company’s internal accounting control designed to assure, among items, 1) recorded transactions 2) valid are recorded; transactions recorded the financial fairly financial cash flows the Company the respective presented.
Use of estimates	Use of estimates The preparation financial statements conformity with principles generally accepted United States America management make estimates assumptions that assets liabilities liabilities statements amounts expenses reported period. The Company’s significant estimates include income provision valuation allowance assets; value financial instruments; the carrying value recoverability long-lived assets, including values assigned estimated lives equipment; assumption Company will concern. Those significant estimates assumptions attached estimates assumptions, estimates assumptions difficult measure Management estimates historical various assumptions believed reasonable under circumstances, results which form basis making judgments carrying values and liabilities that Management regularly reviews estimates utilizing currently available information, in circumstances, historical experience assumptions. After reviews, deemed estimates accordingly. results differ estimates.
Carrying value, recoverability and impairment of long-lived assets	Carrying value, recoverability and impairment of long-lived assets The Company adopted paragraph FASB Accounting Standards Codification long-lived Company’s assets, which computer equipment reviewed impairment whenever events changes circumstances indicate that carrying amount may recoverable. The Company assesses recoverability long-lived comparing projected undiscounted flows associated with long-lived asset long-lived over remaining estimated lives against respective carrying amounts. Impairment, any, carrying amount value value determined expected discounted flows market value, readily determinable. long-lived determined recoverable, newly determined remaining estimated useful lives shorter estimated, values long-lived assets depreciated over newly determined estimated lives. The Company considers following some examples important indicators may impairment review: significant under-performance relative historical future results; significant manner Company’s overall with to acquired changes the Company’s overall business strategy; significant negative industry economic (iv) competitive (v) significant Company’s for sustained time; assets potential impairment more The impairment any, included expenses accompanying consolidated statements operations.
Cash and cash equivalents	Cash and cash equivalents The Company investments with maturity when to equivalents.
Related parties	Related parties The Company follows 850-10 FASB Standards Codification identification parties disclosure of related transactions. Pursuant to Section 850-10-20 Related include affiliates Company; Entities which investments equity would absent election fair value Fair Value Option Subsection Section accounted method investing entity; employees, pension profit-sharing managed management; principal owners the Company; management Company; parties with which may can significantly influence management policies extent transacting might own Other significantly influence management policies transacting have ownership in significantly influence extent more might prevented its own The financial statements include disclosures material party transactions, than compensation arrangements, allowances, similar items business. However, disclosure transactions eliminated consolidated statements statements. disclosures include: nature relationship(s) involved the transactions, including transactions which amounts nominal amounts which income presented, information deemed understanding effects the transactions financial statements; dollar amounts transactions periods which income statements and effects method establishing the terms preceding amounts sheet otherwise apparent, terms manner settlement.
Commitments and contingencies	Commitments and contingencies The Company follows subtopic 450-20 FASB Accounting Standards Codification report for contingencies. Certain conditions may consolidated financial statements which may Company which will resolved when more events Company assesses such liabilities, and assessment inherently involves judgment. assessing loss contingencies to proceedings pending the Company unasserted claims may proceedings, Company evaluates the perceived merits any proceedings unasserted claims well perceived merits amount relief expected therein. If the assessment that material and estimated, estimated liability would the Company’s consolidated financial statements. assessment indicates material loss contingency is probable is reasonably possible, is estimated, liability, estimate losses, determinable material, would disclosed. Loss contingencies considered remote unless involve which case would disclosed. Management believe, information available time, that matters will have adverse the Company’s consolidated position, results flows. However, assurance such matters will materially the Company’s business, position, results operations cash flows.
Revenue recognition	Revenue recognition The Company adopted ASU 2014-09, Topic 606 on January 1, 2018, using the modified retrospective method. ASC 606 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The adoption of Topic 606 has no impact on revenue amounts recorded on the Company’s financial statements as the Company has not generate any revenues.
Income Tax Provisions	Income Tax Provisions The Company follows Section 740-10-30 FASB Standards Codification, which recognition deferred and liabilities expected consequences events have in statements liabilities between statement assets liabilities using the fiscal year which the expected Deferred valuation allowance extent management concludes more will realized. Deferred and liabilities measured enacted expected taxable income years which temporary expected recovered liabilities in Statements Income Comprehensive Income the enactment The Company Accounting Standards Codification (“Section with uncertainty income Section the determination whether benefits claimed expected claimed return financial statements. Under Section Company may recognize the position more likely will be on examination on merits position. recognized financial statements should measured benefit has realized ultimate settlement. Section provides guidance de-recognition, classification, and income taxes, accounting interim requires disclosures.
Net income (loss) per common share	Net income (loss) per common share Net income (loss) per common computed Accounting Standards Codification. Basic income (loss) common computed dividing income (loss) weighted average number common outstanding period. Diluted income per common computed dividing income weighted average common common weighted average common potentially common assumes Company beginning the The Convertible Preferred Stocks, warrants and stock options are not included in poten tially dilutive outstanding six months ended June 30, 2022
Cash flows reporting	Cash flows reporting The Company Accounting Standards Codification flows classifies receipts payments whether investing, activities definitions category, indirect reconciliation method method”) FASB Accounting Standards Codification activities income reconcile cash from activities by removing of (a) deferrals receipts payments accruals expected payments income operating receipts payments. Company currency equivalent foreign flows, current exchange the time flows currencies separate the reconciliation beginning ending balances equivalents separately provides information investing financing receipts payments period pursuant paragraph the FASB Accounting Standards Codification.

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 36,845,557	$ 36,834,447

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - shares	May 18, 2022	Jun. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, shares authorized		780,000,000	780,000,000
Common stock, shares issued		1,460,079	1,460,079
Common stock, shares outstanding		1,460,079	1,460,079
Preferred stock, shares authorized		20,000,000	20,000,000
Preferred stock, shares issued		2,520	2,520
Preferred stock, shares outstanding		2,520	2,520
Reverse stock split	reverse stock split of 500-to-1

RELATED PARTY TRANSACTION (Deta

RELATED PARTY TRANSACTION (Details Narrative)	Jun. 30, 2022 USD ($)
Related Party Transactions [Abstract]
Amount due to related parties	$ 185,457

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	6 Months Ended
	Jun. 30, 2022 USD ($)
Income Tax Disclosure [Abstract]
Income tax examination, description	The Tax Reform Act permanently reduces the U.S. corporate income tax rate from a maximum of 34% to a flat 21% rate, effective January 1, 2018. As a result of the reduction in the U.S. corporate income tax rate from 34% to 21% under the Tax Reform Act, the Company revalued its ending net deferred tax assets
Percentage of corporate tax	21%
Net operating losses	$ 36,845,557