Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2022 | May 06, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2022 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-170480 | |
Entity Registrant Name | CHINA LIAONING DINGXU ECOLOGICAL AGRICULTURE DEVELOPMENT, INC. | |
Entity Central Index Key | 0001501958 | |
Entity Tax Identification Number | 80-0638212 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 17800 Castleton St | |
Entity Address, City or Town | City of Industry | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 91748 | |
City Area Code | 812 | |
Local Phone Number | 933-8888 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | No | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 14,845,619 |
Balance Sheet (Unaudited)
Balance Sheet (Unaudited) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Current Assets | ||
Total Checking/Savings | $ 46,305 | $ 46,305 |
Total Other Current Assets | ||
Total Current Assets | 46,305 | 46,305 |
Total Fixed Assets | 0 | 0 |
Other Assets | 0 | 0 |
TOTAL ASSETS | 46,305 | 46,305 |
Other Current Liabilities | ||
Accrued Expense | 2,100 | 1,800 |
Due to related Parties | 81,058 | 81,058 |
Payroll Liabilities | 0 | 0 |
Total Other Current Liabilities | 83,158 | 82,858 |
Total Current Liabilities | 83,158 | 82,858 |
Total Long Term Liabilities | 0 | 0 |
Total Liabilities | 83,158 | 82,858 |
Equity | ||
Accumulated Other Income | (9,609,011) | (9,609,011) |
Additional Paid In Capital | 21,351,738 | 21,351,738 |
Common Stock $.001 | 14,845 | 14,845 |
Non-Controlling Interest | 69,945 | 69,945 |
Retained Earnings | (11,864,069) | (11,844,542) |
Net Income | (300) | (19,527) |
Total Equity | (36,852) | (36,552) |
TOTAL LIABILITIES & EQUITY | $ 46,305 | $ 46,305 |
Profit and Loss (Unaudited)
Profit and Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Ordinary Income/Expense | ||||
Total Income | $ 0 | $ 0 | $ 0 | $ 0 |
Total COGS | 0 | 0 | 0 | 0 |
Gross Profit | 0 | 0 | 0 | 0 |
Expense | ||||
Bank Charges/Fees | 0 | 78 | 0 | 158 |
Computer and Internet | 0 | 0 | 0 | 0 |
Depreciation Expense | 0 | 0 | 0 | 0 |
Dues & Subscriptions | 0 | 2,500 | 0 | 2,500 |
General/Admin Expense | 0 | 0 | 0 | 0 |
Interest Expense | 0 | 0 | 0 | 0 |
Office Supplies | 0 | 0 | 0 | 0 |
Payroll Expenses | 0 | 0 | 0 | 0 |
Total Professional Fees | 0 | 16,237 | 300 | 16,837 |
Rent Expense | 0 | 0 | 0 | 0 |
Total Expense | 0 | 18,815 | 300 | 19,495 |
Net Ordinary Income | 0 | (18,815) | (300) | (19,495) |
Other Income/Expense | ||||
Total Other Income | 0 | 0 | 0 | 0 |
Other Expense | 0 | 0 | 0 | 0 |
Net Other Income | 0 | 0 | 0 | 0 |
Net Income | $ 0 | $ (18,815) | $ (300) | $ (19,495) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Comprehensive Income [Member] | Noncontrolling Interest [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 14,845 | $ 21,351,738 | $ (11,844,542) | $ (9,609,011) | $ 69,945 | $ (17,025) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2020 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | (316) | (316) | ||||
Shares of Non-Controlling | ||||||
Ending balance, value at Mar. 31, 2021 | $ 14,845 | 21,351,738 | (11,844,858) | (9,609,011) | 69,945 | (17,341) |
Shares, Outstanding, Ending Balance at Mar. 31, 2021 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | (364) | (364) | ||||
Shares of Non-Controlling | ||||||
Ending balance, value at Jun. 30, 2021 | $ 14,845 | 21,351,738 | (11,845,222) | (9,609,011) | 69,945 | (17,705) |
Shares, Outstanding, Ending Balance at Jun. 30, 2021 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | (18,815) | (18,815) | ||||
Shares of Non-Controlling | ||||||
Ending balance, value at Sep. 30, 2021 | $ 14,845 | 21,351,738 | (11,864,069) | (9,609,011) | 69,945 | (36,520) |
Shares, Outstanding, Ending Balance at Sep. 30, 2021 | 14,845,619 | |||||
Beginning balance, value at Dec. 31, 2021 | $ 14,845 | 21,351,738 | (11,844,542) | (9,609,011) | 69,945 | (36,552) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2021 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | (300) | (300) | ||||
Shares of Non-Controlling | ||||||
Ending balance, value at Mar. 31, 2022 | $ 14,845 | 21,351,738 | (11,864,369) | (9,609,011) | 69,945 | (36,852) |
Shares, Outstanding, Ending Balance at Mar. 31, 2022 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | ||||||
Shares of Non-Controlling | ||||||
Ending balance, value at Jun. 30, 2022 | $ 14,845 | 21,351,738 | (11,864,369) | (9,609,011) | 69,945 | (36,852) |
Shares, Outstanding, Ending Balance at Jun. 30, 2022 | 14,845,619 | |||||
Net Loss - 9.30.21 | ||||||
Other Comprehensive Income/(Loss) | ||||||
Shares of Non-Controlling | ||||||
Ending balance, value at Sep. 30, 2022 | $ 14,845 | $ 21,351,738 | $ (11,864,369) | $ (9,609,011) | $ 69,945 | $ (36,852) |
Shares, Outstanding, Ending Balance at Sep. 30, 2022 | 14,845,619 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
OPERATING ACTIVITIES | ||
Net Income | $ (300) | $ (19,495) |
Adjustments to reconcile Net Income to net cash provided by operations: | ||
Inventory | ||
Other Current Assets | ||
Accounts Payable | 15,557 | |
Accrued Expense | 300 | 600 |
Due to related Parties | ||
Payroll Liabilities | ||
Net cash provided by Operating Activities | (3,338) | |
INVESTING ACTIVITIES | ||
Land Right Use | ||
Prepaid Lease | ||
Property Plant & Equipment | ||
Net cash provided by Investing Activities | ||
FINANCING ACTIVITIES | ||
Long Term Payable | ||
Accumulated Other Income | ||
Additional Paid In Capital | ||
Capital Stock | ||
Common Stock $.001 | ||
Dividends Paid | ||
Non-Controlling Interest | ||
Opening Balance Equity | ||
Retained Earnings | ||
Net cash provided by Financing Activities | ||
Net cash increase for period | (3,338) | |
Cash at beginning of period | 46,305 | 4,675 |
Cash at end of period | $ 46,305 | $ 1,337 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the balance sheet as of September 30, 2022 which has been derived from unaudited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended September 30, 2022 are not necessarily indicative of the results to be expected for the entire fiscal year ending December 31, 2021 or for any future period. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Form 10-K for the year ended December 31, 2021. |
DESCRIPTION OF BUSINESS AND ORG
DESCRIPTION OF BUSINESS AND ORGANIZATION | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
DESCRIPTION OF BUSINESS AND ORGANIZATION | 2. DESCRIPTION OF BUSINESS AND ORGANIZATION (i) China Liaoning Dingxu Ecological Agriculture Development, Inc. (“CLAD”), formerly known as Hazlo! Technologies, Inc., a Nevada corporation; (ii) China Liaoning DingXu Ecological Agriculture Development Co, Ltd., a BVI company (“DingXu BVI”), a wholly-owned subsidiary of CLAD; (iii) Panjin Hengrun Biological Technology Development Co., Ltd. 盘锦恒润生物技术开发有限公司, a limited liability company organized under the laws of the People’s Republic of China and a ninety-nine percent owned subsidiary of DingXu BVI (“Panjin Hengrun”); (iv) Liaoning Dingxu Ecological Agriculture Development Co., Ltd.辽宁鼎旭生态农业发展有限公司, a limited liability company organized under the laws of the People’s Republic of China and an affiliated entity of Panjin Hengrun through contractual arrangements (“Liaoning Dingxu”). “ China” or “PRC” refers to the People’s Republic of China, excluding Hong Kong, Macau and Taiwan. “ RMB” or “Renminbi” refers to the legal currency of China and “$” or “U.S. Dollars” refers to the legal currency of the United States. We make no representation that the RMB or U.S. Dollar amounts referred to in this report could have been or could be converted into U.S. Dollars or RMB, as the case may be, at any particular rate or at all. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The accompanying financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The accompanying financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation. As of September 30, 2022, there was no subsidiary held by the Company. Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheet, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the nine months ended September 30, 2022, the Company incurred a loss before income tax of $ 300 0 The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. Despite the amount of funds that we have raised, no assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayments, amount due to a director and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. The Company follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: · Level 1 : Observable inputs such as quoted prices in active markets; · Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and · Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions information regarding the impact of the adoption of ASC 842 on the Company’s financial statements. Recent accounting pronouncements In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We adopted the new standard effective January 1, 2018, and the standard did not have a material impact on our financial statements. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01), which revises the definition of a business and provides new guidance in evaluating when a set of transferred assets and activities is a business. We adopted the new standard effective January 1, 2018 on a prospective basis. The new standard did not have a material impact on our consolidated financial statements. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
PREPAID EXPENSES AND OTHER RECE
PREPAID EXPENSES AND OTHER RECEIVABLES | 9 Months Ended |
Sep. 30, 2022 | |
Credit Loss [Abstract] | |
PREPAID EXPENSES AND OTHER RECEIVABLES | 4. PREPAID EXPENSES AND OTHER RECEIVABLES None. |
ACCRUED LIABILITIES
ACCRUED LIABILITIES | 9 Months Ended |
Sep. 30, 2022 | |
Payables and Accruals [Abstract] | |
ACCRUED LIABILITIES | 5. ACCRUED LIABILITIES The accrued liabilities as of September 30, 2022 included the transfer agent’s fee of $ 2,100 1,800 |
AMOUNT DUE TO RELATED PARTY
AMOUNT DUE TO RELATED PARTY | 9 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
AMOUNT DUE TO RELATED PARTY | 6. AMOUNT DUE TO RELATED PARTY As of September 30, 2022, and December 31, 2021, our directors has loaned to the Company $ 81,058 81,058 |
STOCKHOLDERS_ EQUITY
STOCKHOLDERS’ EQUITY | 9 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
STOCKHOLDERS’ EQUITY | 7. STOCKHOLDERS’ EQUITY As of September 30, 2022, and December 31, 2021, there were 14,845,619 14,845,619 There were no |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 8. SUBSEQUENT EVENTS None. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). The accompanying financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany transactions and balances were eliminated in consolidation. As of September 30, 2022, there was no subsidiary held by the Company. |
Use of estimates | Use of estimates Management uses estimates and assumptions in preparing these financial statements in accordance with US GAAP. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities in the balance sheet, and the reported revenue and expenses during the periods reported. Actual results may differ from these estimates. |
Going Concern | Going Concern The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. During the nine months ended September 30, 2022, the Company incurred a loss before income tax of $ 300 0 The Company’s ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its shareholders. Management believes the existing shareholders or external financing will provide the additional cash to meet the Company’s obligations as they become due. Despite the amount of funds that we have raised, no assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
Fair value of financial instruments | Fair value of financial instruments The carrying value of the Company’s financial instruments: cash and cash equivalents, prepayments, amount due to a director and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. The Company follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: · Level 1 : Observable inputs such as quoted prices in active markets; · Level 2 : Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and · Level 3 : Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions information regarding the impact of the adoption of ASC 842 on the Company’s financial statements. |
Recent accounting pronouncements | Recent accounting pronouncements In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (ASU 2016-18), which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We adopted the new standard effective January 1, 2018, and the standard did not have a material impact on our financial statements. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01), which revises the definition of a business and provides new guidance in evaluating when a set of transferred assets and activities is a business. We adopted the new standard effective January 1, 2018 on a prospective basis. The new standard did not have a material impact on our consolidated financial statements. The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on its financial condition or the results of its operations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 9 Months Ended |
Sep. 30, 2022 USD ($) | |
Accounting Policies [Abstract] | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $ 300 |
OperatingCashUsedInPeriod | $ 0 |
ACCRUED LIABILITIES (Details Na
ACCRUED LIABILITIES (Details Narrative) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Transfer Agent Fees [Member] | ||
Offsetting Assets [Line Items] | ||
Accrued Liabilities | $ 2,100 | $ 1,800 |
AMOUNT DUE TO RELATED PARTY (De
AMOUNT DUE TO RELATED PARTY (Details Narrative) - USD ($) | Sep. 30, 2022 | Dec. 31, 2021 |
Related Party Transactions [Abstract] | ||
[custom:DueToRelatedPartiesCurrent1-0] | $ 81,058 | $ 81,058 |
STOCKHOLDERS_ EQUITY (Details N
STOCKHOLDERS’ EQUITY (Details Narrative) - shares | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2022 | |
Equity [Abstract] | ||
Common Stock, Shares, Outstanding | 14,845,619 | 14,845,619 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 |