Zhong Ya International (ZYJT) 10-Q 4 Dec 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Document and Entity Information:	'	'
Entity Registrant Name	'Western Lucrative Enterprises, Inc.	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Entity Central Index Key	'0001442101	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	8,505,000	'
Entity Public Float	'	$2,500,000
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

WESTERN_LUCRATIVE_ENTERPRISES_

WESTERN LUCRATIVE ENTERPRISES, INC BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position	'	'
Related party loan	$7,500	$17,500
Beneficial conversion feature on loan	-7,500	-7,500
Accrued interest	1,528	1,216
Total current liabilities	10,489	10,177
Related party loan	10,000	10,000
Common stock	8,505	8,505
Additional paid-in capital	64,389	64,389
Retained earnings (Accumulated Deficit)	-93,383	-93,071
Total shareholders' equity	-20,489	-20,177
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	8,505,000	8,505,000
Common Stock, Shares Outstanding	8,505,000	8,505,000
Common Stock, Value, Outstanding	$8,505	$8,505

WESTERN_LUCRATIVE_ENTERPRISES_1

WESTERN LUCRATIVE ENTERPRISES, INC. - STATEMENTS OF INCOME (USD $)	3 Months Ended		6 Months Ended		72 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Expenses	'	'	'	'	'
General & administrative	'	'	'	'	$37,682
Professional fees	'	'	'	'	72,492
Total expenses	'	'	'	'	110,174
Interest expense	-156	-156	-312	-312	-2,145
Total other income/ (expense)	-156	-156	-312	-312	16,791
Net loss	($156)	($156)	($312)	($312)	($93,383)
Basic and diluted loss per common share	$0	$0	$0	$0	$0
Weighted average number of common shares outstanding	8,505,000	8,505,000	8,505,000	8,505,000	'

WESTERN_LUCRATIVE_ENTERPRISES_2

WESTERN LUCRATIVE ENTERPRISES, INC- STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended		72 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Cash flows from operating activities:	'	'	'
Net loss	($312)	($312)	($93,383)
Non-cash interest - beneficial conversion feature	'	'	616
Increase (decrease) in accounts payable	'	'	5,961
Increase in other liabilities -accrued interest	312	312	1,373
Net cash used in operating activities	'	'	-45,625
Proceeds from related party loan	'	'	17,500
Proceeds from issuance of stock	'	'	28,125
Net cash provided by financing activities	'	'	$45,625

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Notes	'
Basis of Presentation	'
	Basis of Presentation
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that (1) recorded transactions are valid; (2) all valid transactions are recorded and (3) transactions are recorded in the period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the company for the respective periods being presented.

Accounting_Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2014
Notes	'
Accounting Policies	'
	Use of Estimates
	The preparation of financial statements in accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on the Company’s financial condition and results of operations during the period in which such changes occurred.
	Actual results could differ from those estimates. The Company’s financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.
	Cash and Cash Equivalents
	For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with maturity of three months or less to be cash equivalents.
	WESTERN LUCRATIVE ENTERPRISES, INC.
	(A Development Stage Company)
	Notes to Financial Statements
	For the Three Months ended June 30, 2014 and 2013
	and the Six Months ended June 30, 2014 and 2013
	and the Period from July 14, 2008 (Inception) to June 30, 2014
	___________________________________________________________________________________________________________
	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
	Accounts Receivable
	Accounts receivable, if any, is carried at the expected net realizable value. The allowance for doubtful accounts, when determined, will be based on management's assessment of the collectability of specific customer accounts and the aging of the accounts receivables. If there were a deterioration of a major customer's creditworthiness, or actual defaults were higher than historical experience, our estimates of the recoverability of the amounts due to us could be overstated, which could have a negative impact on operations.
	The Company has been in the developmental stage since inception and has no operation to date. The Company currently does not have any accounts receivable. The above accounting policies will be adopted upon the Company carries accounts receivable.
	Property and Equipment
	Property and equipment are carried at cost. Expenditures for maintenance and repairs are charged against operations. Renewals and betterments that materially extend the life of the assets are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts, and any resulting gain or loss is reflected in income for the period.
	Depreciation is computed for financial statement purposes on a straight-line basis over estimated useful lives of the related assets. The estimated useful lives of depreciable assets are:
	Estimated
	Useful Lives
	Office Equipment                                                                5-10 years
	Copier                                                                    5 - 7 years
	Vehicles                                                                 5-10 years
	Website  / Software                                             10-15 years
	For federal income tax purposes, depreciation is computed under the modified accelerated cost recovery system. For financial statements purposes, depreciation is computed under the straight-line method.
	The Company has been in the developmental stage since inception and has no operation to date. The Company currently does not have any property and equipment. The above accounting policies will be adopted upon the Company maintains property and equipment.
	Accounts Payable and Accrued expense
	The Company has accounts payable and accrued expenses in the amount of $8,961 as of June 30, 2014, and 2013 respectively.
	Revenue and Cost Recognition
	The Company intends to provide a landscape design and consulting service via a web site. The Company reports income and expenses on the accrual basis of accounting, whereby income is recorded when it is earned and expenses recorded when they are incurred. The Company currently does not yet have a working website; therefore, it has not realized any sales that would require recognition of revenue.
	WESTERN LUCRATIVE ENTERPRISES, INC.
	(A Development Stage Company)
	Notes to Financial Statements
	For the Three Months ended June 30, 2014 and 2013
	and the Six Months ended June 30, 2014 and 2013
	and the Period from July 14, 2008 (Inception) to June 30, 2014
	___________________________________________________________________________________________________________
	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
	Advertising
	Advertising expenses related to specific jobs are allocated and classified as costs of goods sold. Advertising expenses not related to
	specific jobs are recorded as general and administrative expenses. No advertising expense was incurred for the 6 Months ended June 30, 2014 and 2013.
	Stockholders’ Equity: Common Stock
	The holders of the Company’s common stock are entitled to receive dividends out of assets or funds legally available for the payment of dividends of such times and in such amounts as the board from time to time may determine.  Holders of common stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders.  There is no cumulative voting of the election of directors then standing for election.  The common stock is not entitled to pre-emptive rights and is not subject to conversion or redemption.  Upon liquidation, dissolution or winding up of the company, the assets legally available for distribution to stockholders are distributable ratably among the holders of the common stock after payment of liquidation preferences, if any, on any outstanding payment of other claims of creditors.
	The Company has authorized seven hundred and fifty million (750,000,000) shares of common stock with a par value of $.001. As of June 30, 2014 and December 31, 2013.
	In January 2010, the FASB ASC Topic 825, Financial Instruments, requires disclosures about fair value of financial instruments in quarterly reports as well as in annual reports.  For the Company, this statement applies to certain investments and long-term debt.  Also, the FASB ASC Topic 820, Fair Value Measurements and Disclosures, clarifies the definition of fair value for financial reporting, establishes a framework for measuring fair value and requires additional disclosures about the use of fair value measurements.
	Various inputs are considered when determining the value of the Company’s investments and long-term debt.  The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in these securities.  These inputs are summarized in the three broad levels listed below.
	Level 1 – observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets.
	Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc…).
	Level 3 – significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments).
	The Company’s adoption of FASB ASC Topic 825 effectively at the inception did not have a material impact on the Company’s financial statements.
	WESTERN LUCRATIVE ENTERPRISES, INC.
	(A Development Stage Company)
	Notes to Financial Statements
	For the Three Months ended June 30, 2014 and 2013
	and the Six Months ended June 30, 2014 and 2013
	and the Period from July 14, 2008 (Inception) to June 30, 2014
	__________________________________________________________________________________________________________
	NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
	The carrying value of financial assets and liabilities recorded at fair value is measured on a recurring or nonrecurring basis. Financial assets and liabilities measured on a non-recurring basis are those that are adjusted to fair value when a significant event occurs. The
	Company had no financial assets or liabilities carried and measured on a nonrecurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. The Company does not have financial assets as an investment carried at fair value on a recurring basis as of June 30, 2014.
	The availability of inputs observable in the market varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the transaction. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market
	participants, and the valuation does not require significant management discretion. For other financial instruments, pricing inputs are less observable in the market and may require management judgment. As of June 30, 2014, the Company has assets and liabilities in cash, various receivables, property and equipments, and various payables. Management believes that they are being presented at their fair market value.
Basic and Diluted Loss per Common Share
Net loss per share is calculated in accordance with SFAS No. 128, "Earnings per Share." The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Diluted loss per share is computed using the weighted average number of shares and dilutive potential common shares outstanding. Dilutive potential common shares are additional common shares assumed to be exercised. We do not calculate loss per diluted shares to prevent understating the actual loss per share
Basic net loss per common share is based on the weighted-average number of share of common stock outstanding since inception. As of June 30, 2014 and since inception, the Company had 8,505,000 common shares outstanding and 9,595,200 dilutive potential common shares.
Basic earnings per share are based on the weighted-average number of shares of common stock outstanding.  Diluted earnings per share is based on the weighted-average number of shares of common stock outstanding adjusted for the effects of common stock that may be issued as a result of the following types of potentially dilutive instruments:
Warrants,
Employee stock options, and
Basic and Diluted Loss per common share (Continued)
Other equity awards, which include long-term incentive awards.
The FASB ASC Topic 260, Earnings per Share, requires the Company to include additional shares in the computation of earnings per share, assuming dilution.
Diluted earnings per share are based on the assumption that all dilutive options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options are assumed to be exercised at the time of issuance, and as if funds obtained thereby were used to purchase common stock at the average market price during the period. The Company does not have diluted
WESTERN LUCRATIVE ENTERPRISES, INC.
(A Development Stage Company)
Notes to Financial Statements
For the Three Months ended June 30, 2014 and 2013
and the Six Months ended June 30, 2014 and 2013
and the Period from July 14, 2008 (Inception) to June 30, 2014
_____________________________________________________________________________________________________
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
effects on common stock as there was no warrant or option issued. Basic and diluted earnings per share are the same as there was no dilutive effect of outstanding stock options for the period ended June 30, 2014. The following is a reconciliation of basic and diluted earnings per share for the 3 Months ended June 30, 2014:	Period Ended
	30-Jun-14
Numerator:
Net Loss available to common shareholders	$	-312
Denominator:
Weighted average shares – basic		8,505,000
Weighted average shares – diluted                                                                                                                                           9,595,200
Net income (loss) per share – basic and diluted	$	0
Provision for Income Taxes
We are subject to state and federal income taxes in the U.S.  Significant judgment is required in evaluating our uncertain tax positions and determining our provision for income taxes. In accordance with FASB ASC Topic 740, “Income Taxes,” we provide for the recognition of deferred tax assets if realization of such assets is more likely than not.
Recently Issued Accounting Pronouncements
In April 2014, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This ASU changes the threshold for reporting discontinued operations and adds new disclosures. The new guidance defines a discontinued operation as a disposal that “represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results.” The standard is required to be adopted by public business entities in annual periods beginning on or after December 15, 2014, and interim periods within those annual periods. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial position or results of operations.
In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This ASU supercedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605-Revenue Recognition and most industry-specific guidance throughout the Codification. The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This ASU should be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the ASU recognized at the date of initial application. For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. For all other entities (nonpublic entities), the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. A nonpublic entity may elect to apply this guidance earlier, however, only as prescribed in this ASU. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial position and results of operations.
WESTERN LUCRATIVE ENTERPRISES, INC.
(A Development Stage Company)
Notes to Financial Statements
For the Three Months ended June 30, 2014 and 2013
and the Six Months ended June 30, 2014 and 2013
and the Period from July 14, 2008 (Inception) to June 30, 2014
___________________________________________________________________________________________________________
Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s consolidated financial statements upon adoption.

Note_B_Going_Concern

Note B - Going Concern	6 Months Ended
	Jun. 30, 2014
Notes	'
Note B - Going Concern	'
	NOTE B - GOING CONCERN
	The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have significant cash or other current assets, nor does it have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern.
	Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to laws or regulations.
	Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business.
	The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plan described in the preceding paragraph and eventually attain profitable operations. The accompanying financial statements do not include any adjustments that may be necessary if the Company is unable to continue as a going concern.
	In the coming year, the Company’s foreseeable cash requirements will relate to continual development of the operations of its business, maintaining its good standing and making the requisite filings with the Securities and Exchange Commission, and the payment of expenses associated with operations and business developments. The Company may experience a cash shortfall and be required to raise additional capital.
	Historically, as the Company has no business revenues, it has mostly relied upon funds contributed by shareholders and associated companies to finance its overheads and research. Management may raise additional capital by retaining net earnings or through future public or private offerings of the Company’s stock or through loans from private investors, although there can be no assurance that it will be able to obtain such financing. The Company’s failure to do so could have a material and adverse affect upon it and its shareholders.

Note_C_Notes_Payable_Debt_Disc

Note C - Notes Payable & Debt Discounts	6 Months Ended
	Jun. 30, 2014
Notes	'
Note C - Notes Payable & Debt Discounts	'
	NOTE C – NOTES PAYABLE & DEBT DISCOUNTS
	On December 31, 2013, the Company issued two new Convertible Notes in the amounts of $6,000 and $1,500 to Magellan Capital Partners, Inc. and Savile Town Investments, Inc respectively.
	The chart below summarizes the term of the Notes Payable & Debt Discounts of the Company as of June 30, 2014. The Company is currently in good standing of its promissory notes to Millenium Group, Inc. (“Millenium”), a California corporation, Magellan Capital Partners (“Magellan”) and Savile Town Investments, Inc. (“Savile Town”).
	WESTERN LUCRATIVE ENTERPRISES, INC.
	(A Development Stage Company)
	Notes to Financial Statements
	For the Three Months ended June 30, 2014 and 2013
	and the Six Months ended June 30, 2014 and 2013
	and the Period from July 14, 2008 (Inception) to June 30, 2014
	___________________________________________________________________________________________________________
	Terms	Amount
	Notes Payable to Related Party (Millenium): Effective as of August 20, 2010; principal of $10,000 at 2.5% APR; convertible into 4% of fully diluted common shares; due on August 20, 2015, net of unamortized discount related to the debt accretion of $0.	$10,000
	Notes Payable to Related Party (Magellan): Effective as of December 31, 2013; principal of $6,000 at 5.0% APR; convertible into 600,000 fully diluted common shares; due on December 31, 2014, net of unamortized discount related to the debt accretion of $0.
	Notes Payable to Related Party (Savile Town): Effective as of December 31, 2013; principal of $1,500 at 5.0% APR; convertible into 150,000 fully diluted common shares; due on December 31, 2014, net of unamortized discount related to the debt accretion of $0.	$6,000
		$1,500
	Convertible Notes to Magellan Capital Partner, Inc. and Savile Town Investments, Inc.
	The Company received service through issuing a total of $7,500 convertible notes to Magellan Capital Partners and Savile Town Investments, Inc. In exchange for the $7,500 notes, the two lenders would have an option to receive a total of 750,000 common shares by fully converting these shares at $0.01 per diluted common shares.
	In accordance with ASC 470-20, Debt with conversion and other options, as the conversion price of the share is a fixed price at $0.01 per diluted common shares, the beneficial conversion feature or BCF of Notes were calculated based on the intrinsic value. The fair value of the shares at the issuance date, December 31, 2012 was $0.52 and the BCF is $0.51 per share. As the total BCF is greater than the total proceeds of the $7,500 convertible notes, in accordance with ASC 470-20 the BCF is limited to the total proceeds of the convertible notes which is $7,500. We recorded the total convertible value of the notes issued to the Company in the amount of $7,500 as a debt discount upon issuance, and amortized this debt discount as interest expense over the life of the note. We recorded interest expense in the amount of $312 for the 6 Months ended June 30, 2014 in connection with these Notes.
	Convertible Note to Millenium Group, Inc.
	The original beneficial conversion feature was resulted from a note issued to Millenium Group, Inc. in the amount of $10,000 on August 20, 2010. The note is convertible at holder’s option into 4% of the Company’s fully diluted common shares at the time of conversion, with anti-dilution protection (not adjusted for splits or new issuances), and matures on August 20, 2015.
	On August 20, 2014, this note was renewed and the maturity date was extended to August 20, 2015. No beneficial conversion feature occurs with this note renewal since the beneficial conversion feature had been recognized, and had been completely amortized. As of June 30, 2014, there is $1,528 accrued interest which is due on the mature date of note.

Note_G_Related_Party_Transacti

Note G - Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Notes	'
Note G - Related Party Transactions	'
	NOTE G – RELATED PARTY TRANSACTIONS
	The holder (Millenium Group, Inc.) of the $10,000 convertible note is owned by Jonathan Mork who is a son of Dempsey Mork, the owner of Orion Investment which holds more than 5% of the common shares from the Company.
	The holder (Magellan Capital Partners) of the $6,000 convertible note is owned by Dempsey Mork owner of MCC Profit Sharing Plan which holds more than 5% of the common shares from the Company.
	The holder (Savile Town Investments, Inc.) of the $1,500 convertible note is owned by Neville Pearson a Director of The Company and also its current President, Treasurer, and Secretary.