Ceetop (CTOP) 10-Q 19 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 18, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Ceetop Inc.
Entity Central Index Key	1,439,254
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		46,956,631

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 34,678	$ 25,157
Other receivables (note 4)	426,027	203,918
Due from related party (note 13)	177,169	172,634
Advance to suppliers and deposits (note 7)	541,487	163,768
Total Current Assets	1,179,393	565,476
Prepayment for software development (note 8)	982,200	975,000
Property, plant and equipment, net (note 5)	139,259	153,977
Equity investment in an investee company (note 6)	1,217,874	1,265,083
Total Assets	3,518,726	2,959,536
Current Liabilities
Accrued expenses and other payables (note 9)	376,080	357,219
Due to related party (note 13)	736,650	300,625
Total Current Liabilities	$ 1,112,730	$ 657,844
Stockholders' Equity
Preferred stock, $0.001 par values, 3,558,046 shares authorized, o share issued and Outstanding at June 30, 2015 and December 31, 2014
Common stock, $0.001 par value, 100,000,000 shares authorized, 46,956,631 shares issued and outstanding as at June 30, 2015 and December 31, 2014	$ 46,956	$ 46,956
Additional paid-in capital	11,904,387	11,898,637
Subscription receivable		(368,000)
Accumulated other comprehensive income	189,259	170,693
Accumulated (deficit)	(9,734,622)	(9,446,594)
Total Stockholders' Equity	2,405,996	2,301,692
Total Liabilities and Stockholders' Equity	$ 3,518,726	$ 2,959,536

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Balance Sheets [Abstract]
Preferred stock, par value (In dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,558,046	3,558,046
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value (In dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	46,956,631	46,956,631
Common Stock, Shares, Outstanding	46,956,631	46,956,631

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statements of Income and Comprehensive Income [Abstract]
Sales
Cost of Sales
Gross Profit
Selling, general and administrative expense	$ 145,532	$ 205,381	$ 231,520	$ 494,274
Loss on disposal of property and equipment				3,834
(Loss) from operations	$ (145,532)	$ (205,381)	$ (231,520)	(498,108)
Other income (loss)	38		38
Equity (loss) - share of investee company (note 5)	(21,203)	(26,969)	(56,586)	(80,502)
Interest income	27	8	41	72
Net (loss)	(166,670)	(232,342)	(288,028)	(578,538)
Other comprehensive (loss) income - Foreign currency translation adjustment	4,492	(323)	18,582	(18,968)
Comprehensive (loss)	$ (162,178)	$ (232,665)	$ (269,446)	$ (597,506)
Net (loss) per share - basic and diluted	$ 0	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average shares outstanding-basic and diluted	46,956,631	40,956,631	46,956,631	34,348,896

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (288,028)	$ (578,538)
Adjustments to reconcile net (loss) to net cash used in operating activities
Depreciation of property, plant and equipment	$ 15,865	25,863
Share based expenses		$ 114,552
Accounts receivable written off
Loss on disposal of property and equipment		$ 3,834
Share of loss in equity investment in Softview	$ 56,586	$ 80,502
Changes in operating assets and liabilities:
Accounts receivable
Other receivables, deposits and advance to suppliers	(597,511)	$ 34,763
Accrued expenses and other payables	17,060	12,969
Net cash (used in) operating activities	$ (796,028)	(306,055)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment		(1,443)
Disposal of property and equipment		8,434
Net cash generated by investing activities		6,991
CASH FLOWS FROM FINANCING ACTIVITIES
Advance from a director		35,011
Advance from an investee company	$ 430,808	$ 162,430
Funds received from investors	373,750
Net cash generated by financing activities	804,558	$ 197,441
Effect of exchange rate changes on cash and cash equivalents	991	(5,490)
Net change in cash and cash equivalents	9,521	(107,113)
Cash and cash equivalents, beginning balance	25,157	118,299
Cash and cash equivalents, ending balance	$ 34,678	$ 11,186

Consolidated Statements of Cas6

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	1 Months Ended
	Feb. 28, 2014	Dec. 31, 2013
Statements of Cash Flows [Abstract]
Stock issued under stock purchase agreement to 10 investors	23,000,000
Shares subscription	$ 3,680,000	$ 3,680,000
Stock purchase agreement per share pric	$ 0.16

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Deficit) - USD ($)	Total	Preferred stock	Common Stock	Shares subscription	Subscription Receivable	Additional paid-in capital	Deferred stock based compensation	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance at Dec. 31, 2013	$ 2,440,889		$ 17,956	$ 3,680,000		$ 7,277,187	$ (117,285)	$ 188,666	$ (8,605,635)
Beginning Balance (shares) at Dec. 31, 2013			17,956,631
Foreign currency translation adjustments	(17,973)							$ (17,973)
Amortization of deferred stock based compensation	$ 117,285						$ 117,285
Issuance of common stock due to shares subscription
Issuance of common stock due to shares subscription (shares)
Issuance of common stock to employees
Issuance of common stock to employees (shares)
Issuance of common stock for legal services
Issuance of common stock for legal services (shares)
Shares subscription	$ 602,450		$ 29,000	$ (3,680,000)	$ (368,000)	$ 4,621,450
Shares subscription (shares)			29,000,000
Loss for the year	(840,959)								$ (840,959)
Ending Balance at Dec. 31, 2014	2,301,692		$ 46,956		$ (368,000)	$ 11,898,637		$ 170,693	$ (9,446,954)
Ending Balance (shares) at Dec. 31, 2014			46,956,631
Foreign currency translation adjustments	$ 18,566							$ 18,566
Amortization of deferred stock based compensation
Issuance of common stock due to shares subscription	$ 373,750				$ 368,000	$ 5,750
Issuance of common stock due to shares subscription (shares)
Issuance of common stock to employees
Issuance of common stock to employees (shares)
Issuance of common stock for legal services
Issuance of common stock for legal services (shares)
Shares subscription
Shares subscription (shares)
Loss for the year	(288,028)								$ (288,028)
Ending Balance at Jun. 30, 2015	$ 2,405,996		$ 46,956			$ 11,904,387		$ 189,259	$ (9,734,622)
Ending Balance (shares) at Jun. 30, 2015			46,956,631

Organization

Organization	6 Months Ended
	Jun. 30, 2015
Organization [Abstract]
ORGANIZATION	Note 1 - ORGANIZATION Ceetop Inc. (the “Company” or “Ceetop”) was incorporated in Oregon on February 18, 2003 under the name of GL Gold Inc. On June 6, 2003 the Company filed an amendment with the State of Oregon changing its name to Oregon Gold, Inc. On January 7, 2011 Oregon Gold Inc. changed its name to China Ceetop.com, Inc. On September 12, 2013, the Company again changed its name to Ceetop Inc. Surry Holdings Limited (“Surry”) was incorporated in the British Virgin Islands on September 18, 2009. Surry holds 100% of Westow Technology Limited (“Westow”), a company incorporated in the British Virgin Islands, which in turn holds 100% of Shenzhen Ceetop Network Technology Co., Limited ("SZ Ceetop"), a company incorporated in Shenzhen, Peoples’ Republic of China ("PRC") and ultimately holds 100% of Hangzhou Ceetop Network Technology Co., Limited ("HZ Ceetop"), a company incorporated in Hangzhou, PRC. Pursuant to a series of transactions completed in September, 2009, Surry became the holding company of Westow, SZ Ceetop and HZ Ceetop ("Group Reorganization"). Since Surry, Westow, SZ Ceetop and HZ Ceetop were under common control of a controlling party both before and after the completion of the Group Reorganization, the Group Reorganization has been accounted for using merger accounting. The consolidated financial statements have been prepared on the basis as if Surry had always been the holding company of Westow, SZ Ceetop and HZ Ceetop. On January 27, 2011, the Company became the holding company of Surry through a reverse acquisition. The Company acquired all of the issued and outstanding capital stock of Surry pursuant to the share exchange agreement dated December 30, 2010 by and among Surry, the Company and the shareholders of the Company (the “Share Exchange Agreement”). At the same time, the Company affected a reverse stock split that reduced the number of shares outstanding from 19,900,100 to 866,636 on a 23 to 1 basis. Pursuant to the Share Exchange Agreement, the Company acquired 100% of the capital stock and ownership interests of Surry in exchange for 28,496,427 newly-issued shares of the Company’s common stock and 3,558,046 newly issued shares of the Company’s series A preferred stock. The Company operates in a single reportable segment, and the Company is engaged in the provision of an online platform for distribution of 3C products (computers/communications/consumer electronics) in the PRC by way of a website named www.ceetop.com The Company has transformed from online retail sales into an integrated supply chain service provider, and focuses on business to business supply chain management and related value added services for customers. On March 5, 2013, the name of the subsidiary company, Shenzhen Ceetop Network Technology Co., Limited (“SZ Ceetop”) was changed to Guizhou Ceetop Network Technology Co., Limited (“GZ Ceetop”). On May 29, 2013, GZ Ceetop established two 100% owned subsidiaries, Hangzhou Tuoyin Management Consulting Co., Limited and Hangzhou Lianzhan Supply Chain Management Co., Limited to enhance the management of Business to Business supply chain service. On August 22, 2013, GZ Ceetop acquired a 42.5% interest in Hangzhou Softview Information Technology Company Limited to enhance information technology in the supply chain management system. On January 14, 2014, the name of GZ Ceetop was changed to Guizhou Ceetop Group Holding Co., Limited. On April 3, 2014, the name of Surry was changed to Ceetop Holdings Limited. On July 24, 2014, the Company established a wholly owned company Ceetop (Hong Kong) Limited in Hong Kong under Ceetop Holdings Limited for its business expansion. These Consolidated Financial Statements present the Company and its subsidiaries on a historical basis.

Going Concern

Going Concern	6 Months Ended
	Jun. 30, 2015
Going Concern [Abstract]
GOING CONCERN	Note 2 - GOING CONCERN The accompanying Consolidated Financial Statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying Consolidated Financial Statements, the Company incurred net losses of $166,670 and $232,342 for the three months ended June 30, 2015 and 2014 respectively; $288,028 and $578,538 for the six months ended June 30, 2015, respectively, and has accumulated deficit of $9,734,622 and $9,446,594 at June 30, 2015 and December 31, 2014, respectively. These factors create an uncertainty about the Company’s ability to continue as a going concern. In this regard, management is proposing to raise any necessary additional funds not provided by operations through loans or through additional sales of common stock. There is no guarantee the Company will be able to successfully raise funds or if it does that funds will be available at terms favorable to the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company adopted the new accounting guidance (“Codification”) on July 1, 2009. All references for periods subsequent to July 1, 2009 are based on the codification. The Company's functional currency is the Chinese Renminbi; however the accompanying consolidated financial statements have been translated and presented in the United States Dollars (“USD”). Basis of Accounting and Principles of Consolidation The consolidated financial statements include the financial statements of Ceetop Inc. and its subsidiaries. All significant inter-company accounts and transactions have been eliminated on consolidation. Investments in business entities, in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Unaudited Interim Financial Information These unaudited interim consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2015. The consolidated balance sheets and certain comparative information as of December 31, 2014 are derived from the audited consolidated financial statements and related notes for the year ended December 31, 2014 (“2014 Annual Financial Statements”), included in the Company’s 2014 Annual Report on Form 10-K. These unaudited interim consolidated financial statements should be read in conjunction with the 2014 Annual Financial Statements. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 those estimates. Recent accounting pronouncements In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation: Topic 718. This amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. This ASU is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company does not expect the adoption of this guidance will have a significant impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Company’s consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (ASC 810)”. The Board is issuing the amendments in this Update to respond to stakeholders’ concerns about the current accounting for consolidation of certain legal entities. Stakeholders expressed concerns that current generally accepted accounting principles (GAAP) might require a reporting entity to consolidate another legal entity in situations in which the reporting entity’s contractual rights do not give it the ability to act primarily on its own behalf, the reporting entity does not hold a majority of the legal entity’s voting rights, or the reporting entity is not exposed to a majority of the legal entity’s economic benefits or obligations. Financial statement users asserted that in certain of those situations in which consolidation is ultimately required, deconsolidated financial statements are necessary to better analyze the reporting entity’s economic and operational results. Previously, the FASB issued an indefinite deferral for certain entities to partially address those concerns. However, the amendments in this Update rescind that deferral and address those concerns by making changes to the consolidation guidance. The Board considered stakeholder concerns in conjunction with the objective of general purpose financial reporting, which is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the reporting entity. As a result, the Board is issuing the amendments in this Update, which change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. As of June 30, 2015, there are no recently issued accounting standards not yet adopted that would have a material effect on the Company’s financial statements.

Other Receivables

Other Receivables	6 Months Ended
	Jun. 30, 2015
Other Receivables [Abstract]
OTHER RECEIVABLES	Note 4 - OTHER RECEIVABLES Other receivables contains the following: As of As of December 31, 2014 Receivable from third party individuals $ 357,462 $ 192,342 Other receivables 68,565 11,576 Total $ 426,027 $ 203,918 The loan to third party individuals do not have terms and conditions in writing and bear no interest. The loan is due on demand. Other receivables represent such items as rent deposit, prepayment for social benefits, etc.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	Note 5 - PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are charged to earnings as incurred; additions, renewals and betterments are capitalized. When property, plant and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts, and any gain or loss is included in operations. Depreciation of property, plant and equipment is provided using the straight-line method for substantially all assets with estimated lives of: Office equipment 3 - 5 years Leasehold improvement 3 years Motor vehicles 10 years As of June 30, 2015 and December 31, 2014, property, plant & equipment consist of the following: 6/30/2015 12/31/2014 Office equipment 414,062 411,026 Motor vehicles 54,348 53,950 Accumulated depreciation (329,151 ) (311,000 ) $ 139,259 $ 153,977 Depreciation expense for the three months ended June 30, 2015 and 2014 was $7,874 and $12,696, respectively; for the six months ended June 30, 2015 and 2014 was $15,865 and $25,863, respectively.

Equity Investment In An Investe

Equity Investment In An Investee Company	6 Months Ended
	Jun. 30, 2015
Equity Investment In An Investee Company [Abstract]
EQUITY INVESTMENT IN AN INVESTEE COMPANY	Note 6 – EQUITY INVESTMENT IN AN INVESTEE COMPANY In accordance with ASC 323, accounting for equity method investments, investee companies that are not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors including, among others, representation on the investee company’s board of directors and ownership level, which is generally a 20% to 50% interest in the voting securities of the investee company. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Consolidated Balance Sheets and Consolidated Statements of Income and Comprehensive Income. However, the Company’s share of the earnings or losses of the investee company is reflected in the caption “Equity (loss)/gain-share of investee company” in the Consolidated Statements of Income and Comprehensive Income. The Company’s carrying value in an investee company under equity method is reflected in the caption ‘‘Equity interest in an Investee company’’ in the Company’s Consolidated Balance Sheets. When the Company’s carrying value in an equity method investee company is reduced to zero, no further losses are recorded in the Company’s consolidated financial statements unless the Company has guaranteed the obligations of the investee company or has committed additional funding to finance the investee company. When the investee company subsequently reports income, the Company will not record its share of such income until it equals the amount of its share of losses not previously recognized. With respect to the difference between investor cost and underlying equity in net assets of investee at date of investment (basis difference), ASC 323 requires this difference to be assigned to depreciable or amortizable assets or liabilities and the basis difference should be amortized or depreciated in connection with the income/loss recognized by the investor of their proportionate share of the investee’s net income or loss. This effectively adjusts the investee basis to the investor’s basis, generally over a period of time. In August 2013, the Company entered into a Capital Investment and Share Expansion Agreement (the “Agreement”) with Hangzhou Softview Information Technology Company Limited (“Softview”). Softview, located in Hangzhou, Zhejiang Province, China, is an enterprise focusing on e-commerce, supply chain information systems development, maintenance and support. Pursuant to the Agreement, in exchange for a 42.5% of the total equity in Softview, the Company paid $1,382,761 (RMB 8,500,000) to Softview, while the existing shareholders of Softview contributed approximately $0.1 million in cash and intellectual property with a fair value of approximately $1.6 million. As at June 30, 2015 and December 31, 2014, the Company’s share of underlying net assets of Softview as follow: 6/30/2015 12/31/2014 Current assets $ 1,418,549 $ 1,520,728 Current liabilities (74,238 ) (83,596 ) Property, plant and equipment 20,691 22,868 Intangible assets 1,500,583 1,516,667 Underlying net assets of Softview $ 2,865,586 $ 2,976,667 The Company's investment 1,217,874 $ 1,265,083 The Company's share of underlying net assets of Softview 1,217,874 1,265,083 Difference $ - $ - The results of operations of Softview is summarized below: Condensed income statement information: Three months Ended 6/30/2015 Three months Ended 6/30/2014 Three months Ended 6/30/2015 Three months Ended 6/30/2014 Net sales $ 50,233 $ 52,454 $ 94,685 $ 110,590 Gross profit $ 50,065 $ (17,958 ) $ 94,310 $ 10,068 Net (loss) $ (49,889 ) $ (63,455 ) $ (133,144 ) $ (189,416 ) The Company’s (42.5%) share of loss $ (20,248 ) $ (26,969 ) $ (56,586 ) $ (80,502 ) For the purpose of incorporating Softview’s condensed financial information into these Consolidated Financial Statements, management determined that there are no significant difference between the Company’s and Softview’s accounting policy.

Advance to Suppliers and Deposi

Advance to Suppliers and Deposits	6 Months Ended
	Jun. 30, 2015
Advance To Suppliers And Deposits [Abstract]
ADVANCE TO SUPPLIERS AND DEPOSITS	Note 7 – ADVANCE TO SUPPLIERS AND DEPOSITS Advance to supplier of $541,520 represents payment to a supplier for the purchase of merchandise.

Prepayments for Software Develo

Prepayments for Software Development	6 Months Ended
	Jun. 30, 2015
Prepayment For Software Development [Abstract]
PREPAYMENT FOR SOFTWARE DEVELOPMENT	Note 8 – PREPAYMENT FOR SOFTWARE DEVELOPMENT In December 2013, the Company entered into a software development agreement with a software developer in the PRC to develop custom software for the Company’s exclusive use by December 31, 2014, for total consideration of $981,643 (RMB 6,000,000). Pursuant to the terms of the software development agreement, the Company made a prepayment of $981,643 upon signing of the software development agreement. Total amount of the prepayment is fully refundable if the software developer fails to develop and deliver the custom software to the Company that meets the Company’s specification by December 31, 2014, which was subsequently extended. As of June 30, 2015, 70% of the work of the software development has been completed and the rest of the project is expected to be completed in September 2015. The extension of time to complete the software development project was approved by the Company’s management. As of June 30, 2015 and December 31, 2014, the balance of prepayment for software development was $982,200 and $975,000, respectively.

Accrued Expenses and Other Paya

Accrued Expenses and Other Payables	6 Months Ended
	Jun. 30, 2015
Accrued Expenses and Other Payables[Abstract]
ACCRUED EXPENSES AND OTHER PAYABLES	Note 9 - ACCRUED EXPENSES AND OTHER PAYABLES Accrued expenses and other payables contain the following: As of June 30, 2015 As of December 31, 2014 Payables to third party individuals $ 286,884 $ 274,729 Accrued salaries 89,196 76,179 Other payables - 6,311 Total $ 376,080 $ 357,219 The loans from third party individuals do not have terms and conditions in writing and bear no interest . The loans are due on demand.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
INCOME TAXES	Note 10 - INCOME TAXES The Company operates in more than one jurisdiction with the main operations conducted in PRC, and no activities in United States, with complex regulatory environments subject to different interpretations by the taxpayer and the respective governmental taxing authorities. The Company evaluates its tax positions and establishes liabilities, if required. Pursuant to the PRC Income Tax Laws, the Enterprise Income Tax (“EIT”) through December 31, 2007 is at a statutory rate of 33%, which is comprised of 30% national income tax and 3% local income tax. From January 1, 2008 onwards, the EIT is at a statutory rate of 25%. The Company has not recognized deferred tax asset in respect of tax loss in these Consolidated Financial Statements as it is not more-likely-than-not that the future taxable profit against which loss can be utilized will be available to the entities operating in PRC. The deferred tax asset not recognized is as follows: 06/30/2015 12/31/2014 Unused tax loss brought forward $ 6,025,093 $ 5,949,892 Loss for the year 280,028 840,959 Unused tax loss expired during the year - (648,473 ) Expenses not deductible for tax (share-based payment) - (117,285 ) Total net operating loss carry forwards $ 6,305,121 $ 6,025,093 Effective tax rate 25 % 25 % Unrecognized deferred tax asset carried forward $ 1,576,280 $ 1,506,273 Less : valuation allowances (1,576,280 ) (1,506,273 ) Deferred income tax benefit, net of valuation allowance $ - $ - The following table reconciles the statutory rates to the Company’s effective tax rate for the six months ended June 30, 2015 and 2014: 2015 2014 US statutory rates (benefit) (34.0 )% (34.0 )% Tax rate difference 9.0 % 9.0 % Non deductable stock compensation 0 % 5 % Valuation allowance on NOL 25 % 20 % Tax per financial statements - % - % Uncertain Tax Positions Interest associated with unrecognized tax benefits are classified as income tax and penalties in selling, general and administrative expenses in the statements of operations. For the three months ended June 30, 2015 and 2014, the Company had no related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions, but the tax authority in PRC has the right to examine the Company’s tax position in all past years.

Share Capital

Share Capital	6 Months Ended
	Jun. 30, 2015
Share Capital [Abstract]
SHARE CAPITAL	Note 11 – SHARE CAPITAL Common shares The Company is authorized to issue up to 100,000,000 shares of common stock of par value of $0.001 per share and 3,558,046 shares of Series A preferred stock of par value of $0.001 per share. As of June 30, 2015 and December 31, 2014, the Company has/had a total of 46,956,631 shares of common stock and no shares of Series A Preferred Stock outstanding. For the year ended December 31, 2014, the following shares were issued: Shares Value i. sale of shares of common stock to 10 different investors pursuant to a Stock Purchase Agreement, valued at $0.16 per share 23,000,000 $ 3,680,000 ii. sale of shares of common stock to 4 different investors pursuant to a stock Purchase Agreement, valued at $0.16 per share 6,000,000 $ 960,000 Total common stock issued during year ended December 31, 2014 and the six months ended June 30, 2015 29,000,000 $ 4,640,000 These shares were fully vested and not subjected to forfeiture when issued. For the six months ended June 30, 2015, no shares were issued.

Statutory Reserve

Statutory Reserve	6 Months Ended
	Jun. 30, 2015
Statutory Reserve [Abstract]
STATUTORY RESERVE	Note 12 - STATUTORY RESERVE In accordance with the laws and regulations of the PRC, a wholly-owned Foreign Invested Enterprise’s income, after the payment of the PRC income taxes, shall be allocated to the statutory reserves. The allocation is 10 percent of the net income and the cumulative allocations are not to exceed 50 percent of the registered capital. However, the laws do not prohibit enterprises to allocate net income to this reserve after the limit of 50 per cent of registered capital has been reached. These reserves are not transferable to the Company in the form of cash dividends, loans or advances. These reserves are therefore not available for distribution except in liquidation. As of June 30, 2015 and December 31, 2014, the Company has not allocated to these non-distributable reserve funds due to losses sustained in the six months ended June 30, 2015 and the year ended December 31, 2014.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Note 13 – RELATED PARTY TRANSACTIONS Listed below is a summary of material relationships or transactions with the Company’s related parties: The Company also borrowed funds from its affiliated company Hangzhou Softview Information Technology Company Limited (Softview). As of June 30, 2015 and December 31, 2014, the balances due to Softview were $736,650 and $300,625, respectively. The loan does not bear any terms and conditions. It is due on demand.

Current Vulnerability Due to Ce

Current Vulnerability Due to Certain Risk Factors	6 Months Ended
	Jun. 30, 2015
Current Vulnerability Due To Certain Risk Factors [Abstract]
CURRENT VULNERABILITY DUE TO CERTAIN RISK FACTORS	Note 14 - CURRENT VULNERABILITY DUE TO CERTAIN RISK FACTORS The Company’s operations are carried out entirely in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC, by the general state of the PRC's economy. The Company’s business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Company adopted the new accounting guidance (“Codification”) on July 1, 2009. All references for periods subsequent to July 1, 2009 are based on the codification. The Company's functional currency is the Chinese Renminbi; however the accompanying consolidated financial statements have been translated and presented in the United States Dollars (“USD”).
Basis of Accounting and Principles of Consolidation	Basis of Accounting and Principles of Consolidation The consolidated financial statements include the financial statements of Ceetop Inc. and its subsidiaries. All significant inter-company accounts and transactions have been eliminated on consolidation. Investments in business entities, in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies are accounted for using the equity method.
Unaudited Interim Financial Information	Unaudited Interim Financial Information These unaudited interim consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the rules and regulations of the Securities and Exchange Commission that permit reduced disclosure for interim periods. Therefore, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. In the opinion of management, all adjustments of a normal recurring nature necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been made. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2015. The consolidated balance sheets and certain comparative information as of December 31, 2014 are derived from the audited consolidated financial statements and related notes for the year ended December 31, 2014 (“2014 Annual Financial Statements”), included in the Company’s 2014 Annual Report on Form 10-K. These unaudited interim consolidated financial statements should be read in conjunction with the 2014 Annual Financial Statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 those estimates.
Recent accounting pronouncements	Recent accounting pronouncements In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation: Topic 718. This amendment requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. This ASU is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company does not expect the adoption of this guidance will have a significant impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Company’s consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (ASC 810)”. The Board is issuing the amendments in this Update to respond to stakeholders’ concerns about the current accounting for consolidation of certain legal entities. Stakeholders expressed concerns that current generally accepted accounting principles (GAAP) might require a reporting entity to consolidate another legal entity in situations in which the reporting entity’s contractual rights do not give it the ability to act primarily on its own behalf, the reporting entity does not hold a majority of the legal entity’s voting rights, or the reporting entity is not exposed to a majority of the legal entity’s economic benefits or obligations. Financial statement users asserted that in certain of those situations in which consolidation is ultimately required, deconsolidated financial statements are necessary to better analyze the reporting entity’s economic and operational results. Previously, the FASB issued an indefinite deferral for certain entities to partially address those concerns. However, the amendments in this Update rescind that deferral and address those concerns by making changes to the consolidation guidance. The Board considered stakeholder concerns in conjunction with the objective of general purpose financial reporting, which is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions about providing resources to the reporting entity. As a result, the Board is issuing the amendments in this Update, which change the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. As of June 30, 2015, there are no recently issued accounting standards not yet adopted that would have a material effect on the Company’s financial statements.

Other Receivables (Tables)

Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2015
Other Receivables [Abstract]
Schedule of other receivables	As of As of December 31, 2014 Receivable from third party individuals $ 357,462 $ 192,342 Other receivables 68,565 11,576 Total $ 426,027 $ 203,918

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summary of estimated lives of property, plant and equipment	Office equipment 3 - 5 years Leasehold improvement 3 years Motor vehicles 10 years
Summary of property, plant & equipment	6/30/2015 12/31/2014 Office equipment 414,062 411,026 Motor vehicles 54,348 53,950 Accumulated depreciation (329,151 ) (311,000 ) $ 139,259 $ 153,977

Equity Investment In An Inves25

Equity Investment In An Investee Company (Tables)	6 Months Ended
	Jun. 30, 2015
Equity Investment In An Investee Company [Abstract]
Schedule of Companys share of underlying net assets of Softview	6/30/2015 12/31/2014 Current assets $ 1,418,549 $ 1,520,728 Current liabilities (74,238 ) (83,596 ) Property, plant and equipment 20,691 22,868 Intangible assets 1,500,583 1,516,667 Underlying net assets of Softview $ 2,865,586 $ 2,976,667 The Company's investment 1,217,874 $ 1,265,083 The Company's share of underlying net assets of Softview 1,217,874 1,265,083 Difference $ - $ -
Schedule of condensed income statement information	Three months Ended 6/30/2015 Three months Ended 6/30/2014 Three months Ended 6/30/2015 Three months Ended 6/30/2014 Net sales $ 50,233 $ 52,454 $ 94,685 $ 110,590 Gross profit $ 50,065 $ (17,958 ) $ 94,310 $ 10,068 Net (loss) $ (49,889 ) $ (63,455 ) $ (133,144 ) $ (189,416 ) The Company’s (42.5%) share of loss $ (20,248 ) $ (26,969 ) $ (56,586 ) $ (80,502 )

Accrued Expenses and Other Pa26

Accrued Expenses and Other Payables (Tables)	6 Months Ended
	Jun. 30, 2015
Accrued Expenses and Other Payables[Abstract]
Schedule of accrued expenses and other payables	As of June 30, 2015 As of December 31, 2014 Payables to third party individuals $ 286,884 $ 274,729 Accrued salaries 89,196 76,179 Other payables - 6,311 Total $ 376,080 $ 357,219

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Taxes [Abstract]
Schedule of deferred tax asset not recognized	06/30/2015 12/31/2014 Unused tax loss brought forward $ 6,025,093 $ 5,949,892 Loss for the year 280,028 840,959 Unused tax loss expired during the year - (648,473 ) Expenses not deductible for tax (share-based payment) - (117,285 ) Total net operating loss carry forwards $ 6,305,121 $ 6,025,093 Effective tax rate 25 % 25 % Unrecognized deferred tax asset carried forward $ 1,576,280 $ 1,506,273 Less : valuation allowances (1,576,280 ) (1,506,273 ) Deferred income tax benefit, net of valuation allowance $ - $ -
Schedule of effective income tax rate reconciliation	2015 2014 US statutory rates (benefit) (34.0 )% (34.0 )% Tax rate difference 9.0 % 9.0 % Non deductable stock compensation 0 % 5 % Valuation allowance on NOL 25 % 20 % Tax per financial statements - % - %

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended
	Jun. 30, 2015
Share Capital [Abstract]
Schedule of common tock shares issued	For the year ended December 31, 2014, the following shares were issued: Shares Value i. sale of shares of common stock to 10 different investors pursuant to a Stock Purchase Agreement, valued at $0.16 per share 23,000,000 $ 3,680,000 ii. sale of shares of common stock to 4 different investors pursuant to a stock Purchase Agreement, valued at $0.16 per share 6,000,000 $ 960,000 Total common stock issued during year ended December 31, 2014 and the six months ended June 30, 2015 29,000,000 $ 4,640,000

Organization (Details)

Organization (Details) - shares	Aug. 22, 2013	May. 29, 2013	Jan. 27, 2011	Jun. 30, 2015
Organization (Textual)
Existing issued shares			19,900,100
Number of shares after reduction due to reverse stock split			866,636
Reverse stock split			23 to 1 basis
Shenzhen Ceetop Network Technology Co, Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary				100.00%
Hangzhou Ceetop Network Technology Co, Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary				100.00%
Surry Holdings Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary				100.00%
Hangzhou Tuoyin Management Consulting Co., Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary		100.00%
Hangzhou Lianzhan Supply Chain Management Co., Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary		100.00%
Hangzhou Softview Information Technology Co. Limited [Member]
Organization (Textual)
Percentage ownership in subsidiary	42.50%
Common Stock [Member]
Organization (Textual)
Newly issued shares for acquisition				28,496,427
Series A Preferred Stock [Member]
Organization (Textual)
Newly issued shares for acquisition				3,558,046

Going Concern (Details)

Going Concern (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Going Concern (Textual)
Net (loss)	$ (166,670)	$ (232,342)	$ (288,028)	$ (578,538)	$ (840,959)
Accumulated (deficit)	$ (9,734,622)		$ (9,734,622)		$ (9,446,594)

Other Receivables (Details)

Other Receivables (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Other Receivables [Abstract]
Receivable from third party individuals	$ 357,462	$ 192,342
Other receivables	68,565	11,576
Total	$ 426,027	$ 203,918

Property, Plant and Equipment32

Property, Plant and Equipment (Details)	6 Months Ended
	Jun. 30, 2015
Office equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Office equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Leasehold improvement [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	10 years

Property, Plant and Equipment33

Property, Plant and Equipment (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Office equipment	$ 414,062	$ 411,026
Motor vehicles	54,348	53,950
Accumulated depreciation	(329,151)	(311,000)
Total property and equipment, net	$ 139,259	$ 153,977

Property, Plant and Equipment34

Property, Plant and Equipment (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 7,874	$ 12,696	$ 15,865	$ 25,863

Equity Investment In An Inves35

Equity Investment In An Investee Company (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Summary of condensed balance sheet information
Current assets	$ 1,418,549	$ 1,520,728
Current liabilities	(74,238)	(83,596)
Property, plant and equipment	20,691	22,868
Intangible assets	1,500,583	1,516,667
Underlying net assets of Softview	2,865,586	2,976,667
The Company's investment	1,217,874	1,265,083
The Company's share of underlying net assets of Softview	$ 1,217,874	$ 1,265,083
Difference

Equity Investment In An Inves36

Equity Investment In An Investee Company (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary of condensed income statement information:
Net sales	$ 50,233	$ 52,454	$ 94,685	$ 110,590
Gross profit	50,065	(17,958)	94,310	10,068
Net (loss)	(49,889)	(63,455)	(133,144)	(189,416)
The Company's (42.5%) share of loss	$ (21,203)	$ (26,969)	$ (56,586)	$ (80,502)

Equity Investment In An Inves37

Equity Investment In An Investee Company (Details Textual)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Aug. 31, 2013USD ($)	Aug. 31, 2013CNY (¥)
Equity Interest In An Investee Company (Textual)
Equity method investment, ownership percentage	42.50%
Equity investment in an investee company (note 6)	$ 1,217,874	$ 1,265,083
Fair value of intellectual property	$ 1,500,583	$ 1,516,667
Softview [Member]
Equity Interest In An Investee Company (Textual)
Equity method investment, ownership percentage			42.50%	42.50%
Equity investment in an investee company (note 6)			$ 1,382,761	¥ 8,500,000
Fair value of intellectual property			1,600,000
Equity method investment, cash			$ 100,000
Minimum [Member]
Equity Interest In An Investee Company (Textual)
Equity method investment, ownership percentage	20.00%
Maximum [Member]
Equity Interest In An Investee Company (Textual)
Equity method investment, ownership percentage	50.00%

Advance to Suppliers and Depo38

Advance to Suppliers and Deposits (Details)	Jun. 30, 2015USD ($)
Advance to Suppliers and Deposits (Textual)
Amount paid to supplier for purchase of merchandise	$ 541,520

Prepayments for Software Deve39

Prepayments for Software Development (Details)	1 Months Ended		6 Months Ended
	Dec. 31, 2013USD ($)	Dec. 31, 2013CNY (¥)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Prepayment For Software Development Costs (Textual)
Prepaid software development consideration	$ 981,643	¥ 6,000,000
Prepaid software development description			Total amount of the prepayment is fully refundable if the software developer fails to develop and deliver the custom software to the Company that meets the Company's specification by December 31, 2014.
Percentage of prepaid software development			70.00%
Prepayment for the software development			$ 982,200	$ 975,000

Accrued Expenses and Other Pa40

Accrued Expenses and Other Payables (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Accrued Expenses and Other Payables[Abstract]
Payables to third party individuals	$ 286,884	$ 274,729
Accrued salaries	$ 89,196	76,179
Other payables		6,311
Total	$ 376,080	$ 357,219

Income Taxes (Details)

Income Taxes (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Summary of deferred tax asset not recognized
Unused tax loss brought forward	$ 6,025,093	$ 5,949,892
Loss for the year	$ 280,028	840,959
Unused tax loss expired during the year		(648,473)
Expenses not deductible for tax (share-based payment)		(117,285)
Total net operating loss carry forwards	$ 6,305,121	$ 6,025,093
Effective tax rate	25.00%	25.00%
Unrecognized deferred tax asset carried forward	$ 1,576,280	$ 1,506,273
Less : valuation allowances	$ (1,576,280)	$ (1,506,273)
Deferred income tax benefit, net of valuation allowance

Income Taxes (Details 1)

Income Taxes (Details 1)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Reconciliation of effective income tax rate [Abstract]
US statutory rates (benefit)	(34.00%)	(34.00%)
Tax rate difference	9.00%	9.00%
Non deductable stock compensation	0.00%	5.00%
Valuation allowance on NOL	25.00%	20.00%
Tax per financial statements

Income Taxes (Details Textual)

Income Taxes (Details Textual)	12 Months Ended
	Dec. 31, 2008	Dec. 31, 2007
Income Taxes (Textual)
Statutory rate of enterprise income tax	25.00%	33.00%
National income taxes		30.00%
State income taxes		3.00%

Share Capital (Details)

Share Capital (Details) - 6 months ended Jun. 30, 2015 - USD ($)	Total
Class of Stock [Line Items]
Total common stock issued, Value	$ 4,640,000
Total common stock issued, Shares	29,000,000
Sale of shares of common stock to 10 different investors pursuant to a Stock Purchase Agreement, valued at $0.16 per share [Member]
Class of Stock [Line Items]
Total common stock issued, Value	$ 3,680,000
Total common stock issued, Shares	23,000,000
Sale of shares of common stock to 4 different investors pursuant tp a stock Purchase Agreement, valued at $0.16 per share [Member]
Class of Stock [Line Items]
Total common stock issued, Value	$ 960,000
Total common stock issued, Shares	6,000,000

Share Capital (Details Textual)

Share Capital (Details Textual)	6 Months Ended
	Jun. 30, 2015Investor$ / sharesshares	Dec. 31, 2014$ / sharesshares
Share Capital (Textual)
Common stock, shares authorized | shares	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized | shares	3,558,046	3,558,046
Series A preferred stock issued, par value	$ 0.001	$ 0.001
Common Stock, Shares, Outstanding | shares	46,956,631	46,956,631
Preferred stock shares outstanding | shares	0	0
Stock Purchase Agreement [Member]
Share Capital (Textual)
Number of investors | Investor	10
Stock price per share	$ 0.16
Stock Purchase Agreement One [Member]
Share Capital (Textual)
Number of investors | Investor	4
Stock price per share	$ 0.16

Statutory Reserve (Details)

Statutory Reserve (Details)	Jun. 30, 2015
Statutory Reserve (Textual)
Percentage of net income allocated to statutory reserves	10.00%
Maximum cumulative allocation to statutory reserve of registered capital	50.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Due from related party	$ 177,169	$ 172,634
Due to related party	$ 736,650	$ 300,625