China Gewang Biotechnology (CGWB) 10-K 21 Apr 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Document and Entity Information:
Entity Registrant Name	CHINA GEWANG BIOTECHNOLOGY, INC.
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1489902
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding	3,500,000
Entity Public Float		$0
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	FY

CHINA_GEWANG_BIOTECHNOLOGY_INC

CHINA GEWANG BIOTECHNOLOGY, INC.- Balance Sheets (USD $)	Dec. 31, 2014		Dec. 31, 2013
Current Assets:
Cash
Total Assets
Current Liabilities:
Accounts payable	7,225		550
Notes payable			57,967
TOTAL CURRENT LIABILITIES	7,225		58,517
Stockholders' (deficit):
Common stock	3,500	[1]	3,500	[1]
Additional paid-in capital	191,985		104,127
Deficit	-202,710		-166,144
Total Stockholders' (deficit)	-7,225		-58,517
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)
[1]	$0.001 par value, 75,000,000 shares authorized; 3,500,000 shares issued and outstanding as of December 31, 2014 and 2013

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares Issued	3,500,000	3,500,000
Common Stock, Shares Outstanding	3,500,000	3,500,000
Common Stock, Par Value	$0.00	$0.00

CHINA_GEWANG_BIOTECHNOLOGY_INC1

CHINA GEWANG BIOTECHNOLOGY, INC. - Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
OPERATING EXPENSES:
General and administrative	$30,935	$22,757
TOTAL OPERATING EXPENSES	30,935	22,757
(Loss) from operations	-30,935	-22,757
Interest expense	-5,631	-3,831
Net (loss)	($36,566)	($26,588)
Net (loss) per common share- basic and diluted	($0.01)	($0.01)
Weighted average number of common shares outstanding during the period- basic and diluted	3,500,000	3,500,000

CHINA_GEWANG_BIOTECHNOLOGY_INC2

CHINA GEWANG BIOTECHNOLOGY, INC.- Statement of Changes in Stockholders' (Deficit) (USD $)	Common Stock	Additional Paid-in Capital	Deficit	Total
Balance, Value at Dec. 31, 2012	$3,500	$100,296	($139,556)	($35,760)
Balance, Shares at Dec. 31, 2012	3,500,000
Imputed interest		3,831		3,831
Net (loss)			-26,588	-26,588
Balance, Value at Dec. 31, 2013	3,500	104,127	-166,144	-58,517
Balance, Shares at Dec. 31, 2013	3,500,000
Balance, Value at Nov. 30, 2013
Imputed interest		5,631		5,631
Net (loss)			-36,566	-36,566
Additional Capital Contribution for Cancellation of Notes Payable		82,227		82,227
Balance, Value at Nov. 30, 2014	$3,500	$191,985	($202,710)	($7,225)
Balance, Shares at Nov. 30, 2014	3,500,000

CHINA_GEWANG_BIOTECHNOLOGY_INC3

CHINA GEWANG BIOTECHNOLOGY, INC. - Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from Operating Activities
Net (loss)	($36,566)	($26,588)
Adjustments to reconcile net income to net cash provided by operating activities:
Imputed interest	5,631	3,831
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable	6,675	128
Net cash provided by operating activities	-24,260	-22,629
Cash Flows From Financing Activities:
Shareholders' contribution	82,227
Proceeds from notes payable	-57,967	22,629
Net cash provided by financing activities	24,260	22,629
Net change in cash
Cash, Beginning of Period
Cash, End of Period
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest
Cash paid income taxes

1_Organization

1. Organization	12 Months Ended
	Dec. 31, 2014
Notes
1. Organization	1.         ORGANIZATION
	Rich Star Development (“Rich Star”) was incorporated in the State of Nevada on May 29, 2009. Rich Star had plans to be a wholesale distribution company for certain products, however, it never commenced operations. On January 8, 2015, Rich Star merged with China Gewang Biotechnology, Inc. and then changed its name to China Gewang Biotechnology, Inc. (the “Company”)
	The Company is currently inactive.

2_Summary_of_Significant_Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes
2. Summary of Significant Accounting Policies	2.        SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Accounting
	The accompanying financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.
	Presentation of Financial Statements
	The prior periods' financial statements were presented as a development stage enterprise which required the labeling of the financial statements as those of a development stage entity, the presentation of certain inception to date information and a description of the development stage activities. In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10. This ASU removed from the Accounting Standards Codification (“ASC”) the previously mentioned requirements. ASU 2014-10 was effective for public companies for annual periods beginning after December 5, 2014, with earlier application permitted. The Company early adopted this ASU in the preparation of its December 31, 2014 and the two years then ended financial statements.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain 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 periods.  Actual results could differ from those estimates.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents.  There were no cash equivalents at December 31, 2014 and 2013, respectively.
	Fair Value of Financial Instruments
	FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs).  In accordance with ASC 820, the following summarizes the fair value hierarchy:
	Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access.
	Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly.
	Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements.
	ASC 820 requires the use of observable market data, when available, in making fair value measurements.  When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements.  Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.  As of December 31, 2014 and December, 2013, none of the Company’s assets and liabilities were required to be reported at fair value on a recurring basis.  Carrying values of accounts payable and notes payable approximate their fair values due to the short term nature of these financial instruments.  There were no changes in methods or assumptions during the periods presented.
	Risks and Uncertainties
	The Company’s continued existence and future are dependent in a large part on its ability to develop its business model, commence operations and achieve profitability. The Company's operations are subject to significant risk and uncertainties including financial and operational risks and the potential risk of business failure. The Company has been and continues to be totally dependent on the support of its major stockholder. The Company’s inability to commence operations and achieve profitability could have a material adverse effect on its financial condition, results of operations and cash flows.
	Net Income (Loss) Per Share
	The Company computes net income (loss) per common share in accordance with FASB ASC 260, “Earnings Per Share” (“ASC 260”) and SEC SAB 98.  Under the provisions of ASC 260 and SAB 98, basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding during the period.  Diluted income per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding plus the effect of any dilutive shares outstanding during the period.  Accordingly, the number of weighted average shares outstanding as well as the amount of net income (loss) per share are presented for basic and diluted per share calculations for all periods reflected in the accompanying statements of operations. There were no dilutive shares outstanding during the years ended December 31, 2014 and 2013.
	Income Taxes
	The Company accounts for income taxes in accordance with FASB ASC Section 740, “Income Taxes”, which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes.  Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled.  Deferred tax assets are also recognized for operating losses that are available to offset future taxable income.  A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized.
	ASC 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.  Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.  ASC 740 also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, and accounting for interest and penalties associated with tax positions.  As of December 31, 2014 and December 31, 2013, the Company does not have a liability for any unrecognized tax benefits.
	Recent Accounting Pronouncements
	There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements.

3_Going_Concern

3. Going Concern	12 Months Ended
	Dec. 31, 2014
Notes
3. Going Concern	3.       GOING CONCERN
	As reflected in the accompanying financial statements, the Company had a net loss of $36,566, net cash used in operations of $24,260 and a working capital deficit and stockholders’ deficit of $7,225 at December 31, 2014.  The Company had no revenues and incurred losses since inception resulting in a stockholders’ deficit of $202,710.
	The Company anticipates that it will continue to generate losses from operations in the near future raising substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue its operations is dependent on Management's plans to acquire or create a new business. Continuation of operations will require the raising of capital through debt and/or equity markets until such time that funds provided by operations are sufficient to fund working capital requirements. Until such time, the Company will continue to be dependent on its major stockholder.
	The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.  These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

4_Note_Payable

4. Note Payable	12 Months Ended
	Dec. 31, 2014
Notes
4. Note Payable	4.       NOTE PAYABLE
	During the year ended December 31, 2014, the Company received stockholder advances in the amount of $24,260 for general and administrative purposes.  All advances were non-interest bearing, unsecured, and due on demand. In October, 2014, the shareholder cancelled the notes payable that were owed by the Company which has been treated as an additional capital contribution. Imputed interest of $5,631 and $3,831 was recorded at 8% with a corresponding credit to additional paid-in capital during the year ended December 31, 2014 and 2013, respectively.

5_Income_Taxes

5. Income Taxes	12 Months Ended
	Dec. 31, 2014
Notes
5. Income Taxes	5.        INCOME TAXES
	The Company has net operating loss carry forwards for income tax reporting purposes of $202,710 as of December 31, 2014.  The carry forwards may be used to offset against future taxable income and begin to expire in 2029.  Current tax laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs or a change in the nature of the business.  Therefore, the amount available to offset future taxable income may be limited.
	No tax benefit has been reported in the financial statements for the realization of loss carry forwards, as the Company believes there is high probability that the carry forwards will not be utilized in the foreseeable future.  Accordingly, the potential tax benefits of the loss carry forwards are offset by a valuation allowance of the same amount.
	Significant components of the Company’s deferred tax liabilities and assets as of December 31, 2014 and 2013 are as follows:
			December 31,			December 31,
			2014			2013
	Deferred tax asset:
	Net operating loss carry forward	$		202,710	$		166,144
	Income tax rate		35%			35%
			70,949			58,150
	Less: valuation allowance		-70,949			-58,150
	Deferred tax asset	$		-	$		-

6_Subsequent_Events

6. Subsequent Events	12 Months Ended
	Dec. 31, 2014
Notes
6. Subsequent Events	6.        SUBSEQUENT EVENTS
	On January 8, 2015, the Company changed its name from "Rich Star Development Corporation" to "China Gewang Biotechnology, Inc."

2_Summary_of_Significant_Accou1

2. Summary of Significant Accounting Policies: Basis of Accounting (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Basis of Accounting	Basis of Accounting
	The accompanying financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

2_Summary_of_Significant_Accou2

2. Summary of Significant Accounting Policies: Presentation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Presentation of Financial Statements	Presentation of Financial Statements
	The prior periods' financial statements were presented as a development stage enterprise which required the labeling of the financial statements as those of a development stage entity, the presentation of certain inception to date information and a description of the development stage activities. In June 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-10. This ASU removed from the Accounting Standards Codification (“ASC”) the previously mentioned requirements. ASU 2014-10 was effective for public companies for annual periods beginning after December 5, 2014, with earlier application permitted. The Company early adopted this ASU in the preparation of its December 31, 2014 and the two years then ended financial statements.

2_Summary_of_Significant_Accou3

2. Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain 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 periods.  Actual results could differ from those estimates.

2_Summary_of_Significant_Accou4

2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents.  There were no cash equivalents at December 31, 2014 and 2013, respectively.

2_Summary_of_Significant_Accou5

2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	FASB ASC 820, “Fair Value Measurement,” specifies a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs).  In accordance with ASC 820, the following summarizes the fair value hierarchy:
	Level 1 Inputs – Unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access.
	Level 2 Inputs – Inputs other than the quoted prices in active markets that are observable either directly or indirectly.
	Level 3 Inputs – Inputs based on prices or valuation techniques that are both unobservable and significant to the overall fair value measurements.
	ASC 820 requires the use of observable market data, when available, in making fair value measurements.  When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurements.  Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.  As of December 31, 2014 and December, 2013, none of the Company’s assets and liabilities were required to be reported at fair value on a recurring basis.  Carrying values of accounts payable and notes payable approximate their fair values due to the short term nature of these financial instruments.  There were no changes in methods or assumptions during the periods presented.

2_Summary_of_Significant_Accou6

2. Summary of Significant Accounting Policies: Risks and Uncertainties (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Risks and Uncertainties	Risks and Uncertainties
	The Company’s continued existence and future are dependent in a large part on its ability to develop its business model, commence operations and achieve profitability. The Company's operations are subject to significant risk and uncertainties including financial and operational risks and the potential risk of business failure. The Company has been and continues to be totally dependent on the support of its major stockholder. The Company’s inability to commence operations and achieve profitability could have a material adverse effect on its financial condition, results of operations and cash flows.

2_Summary_of_Significant_Accou7

2. Summary of Significant Accounting Policies: Net Income (loss) Per Share (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Net Income (loss) Per Share	Net Income (Loss) Per Share
	The Company computes net income (loss) per common share in accordance with FASB ASC 260, “Earnings Per Share” (“ASC 260”) and SEC SAB 98.  Under the provisions of ASC 260 and SAB 98, basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding during the period.  Diluted income per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding plus the effect of any dilutive shares outstanding during the period.  Accordingly, the number of weighted average shares outstanding as well as the amount of net income (loss) per share are presented for basic and diluted per share calculations for all periods reflected in the accompanying statements of operations. There were no dilutive shares outstanding during the years ended December 31, 2014 and 2013.

2_Summary_of_Significant_Accou8

2. Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Income Taxes	Income Taxes
	The Company accounts for income taxes in accordance with FASB ASC Section 740, “Income Taxes”, which requires the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income tax purposes.  Deferred tax assets and liabilities represent the future tax consequences for those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled.  Deferred tax assets are also recognized for operating losses that are available to offset future taxable income.  A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized.
	ASC 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements.  Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.  The tax benefits recognized in the financial statements from such a position would be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.  ASC 740 also provides guidance on de-recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, and accounting for interest and penalties associated with tax positions.  As of December 31, 2014 and December 31, 2013, the Company does not have a liability for any unrecognized tax benefits.

2_Summary_of_Significant_Accou9

2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	There are no recent accounting pronouncements that are expected to have a material effect on the Company’s financial statements.

5_Income_Taxes_Schedule_of_Def

5. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities
			December 31,			December 31,
			2014			2013
	Deferred tax asset:
	Net operating loss carry forward	$		202,710	$		166,144
	Income tax rate		35%			35%
			70,949			58,150
	Less: valuation allowance		-70,949			-58,150
	Deferred tax asset	$		-	$		-

3_Going_Concern_Details

3. Going Concern (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Details
Net Income (Loss) Attributable to Parent	$36,566	$36,566	$26,588
Net Cash Provided by (Used in) Continuing Operations	24,260
Total Stockholders' Deficit	7,225	7,225	58,517	35,760
Deficit	$202,710		$166,144

4_Note_Payable_Details

4. Note Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Dec. 31, 2013
Details
Proceeds from Unsecured Notes Payable	$24,260
Imputed interest	$5,631	$5,631	$3,831
Accounts Payable, Interest-bearing, Interest Rate	8.00%

5_Income_Taxes_Details

5. Income Taxes (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Details
Operating Loss Carryforwards	$202,710	$166,144

5_Income_Taxes_Schedule_of_Def1

5. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Details
Operating Loss Carryforwards	$202,710	$166,144
Income Tax Rate	35.00%	35.00%
Deferred Tax Assets, Valuation Allowance	($70,949)	($58,150)