Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Jun. 30, 2014 | Aug. 14, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'MOXIAN CHINA, INC. | ' |
Entity Central Index Key | '0001516805 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--09-30 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 198,300,000 |
Consolidated_Balance_Sheet_Una
Consolidated Balance Sheet (Unaudited) (USD $) | Jun. 30, 2014 | Sep. 30, 2013 | |
CURRENT ASSETS | ' | ' | |
Cash and cash equivalents | $1,797,762 | $28 | |
Prepayments, deposits and other receivables | 232,079 | ' | |
Inventory | 5,146 | ' | |
Total current assets | 2,034,987 | 28 | |
Property and equipment, net (Note 3) | 282,176 | 495 | |
Goodwill (Note 8) | 2,555,202 | ' | |
TOTAL ASSETS | 4,872,365 | 523 | |
CURRENT LIABILITIES | ' | ' | |
Accruals and other payables | 133,785 | 12,047 | |
Payable for acquisition (Note 8) | 1,000,000 | ' | |
Loans from shareholders (Note 4) | 4,913,642 | ' | |
Total current liabilities | 6,047,427 | 12,047 | |
Total liabilities | 6,047,427 | 12,047 | |
STOCKHOLDERS' EQUITY | ' | ' | |
Preferred Stock, $0.001 par value, authorized: 100,000,000 shares. Nil and nil shares; issued and outstanding as of June 30, 2014 and September 30, 2013, respectively | ' | ' | |
Common Stock*, $0.001 par value, authorized: 500,000,000 shares. 198,300,000 and 198,300,000 shares issued and outstanding as of June 30, 2014 and September 30, 2013, respectively. | 198,300 | 198,300 | [1] |
Deficit accumulated during the development stage | -1,380,490 | -209,824 | |
Accumulated other comprehensive income | 7,128 | ' | |
Total stockholders' deficit | -1,175,062 | -11,524 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $4,872,365 | $523 | |
[1] | The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Consolidated_Balance_Sheet_Una1
Consolidated Balance Sheet (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Sep. 30, 2013 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares Issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 198,300,000 | 198,300,000 |
Common stock, shares outstanding | 198,300,000 | 198,300,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 45 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Income Statement [Abstract] | ' | ' | ' | ' | ' |
Revenues, net | $15,802 | ' | $15,802 | ' | $15,802 |
Cost and expenses | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' |
Depreciation and amortization expenses | 26,417 | ' | 41,774 | ' | 41,774 |
Selling, general and administrative expenses | 793,125 | 5,847 | 1,144,753 | 27,814 | 1,354,577 |
Loss from operations | -803,740 | -5,847 | -1,170,725 | -27,814 | -1,380,549 |
Other income | ' | ' | ' | ' | ' |
Interest income | 51 | ' | 59 | ' | 59 |
Loss before income tax | -803,689 | -5,847 | -1,170,666 | -27,814 | -1,380,490 |
Income tax expenses | ' | ' | ' | ' | ' |
Net loss | -803,689 | -5,847 | -1,170,666 | -27,814 | -1,380,490 |
Foreign currency translation adjustments | 7,128 | ' | 7,128 | ' | 7,128 |
Comprehensive loss | ($796,561) | ($5,847) | ($1,163,538) | ($27,814) | ($1,373,362) |
Earnings per share (note 6) | ' | ' | ' | ' | ' |
Basic and diluted loss per common share | $0 | $0 | ($0.01) | $0 | ' |
Basic and diluted weighted average common shares outstanding* | 198,300,000 | 198,300,000 | 198,300,000 | 198,300,000 | ' |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (Unaudited) (USD $) | Total | Common Stock | Accumulated deficit development stage | Accumulated other comprehensive income | ||
Begaining Balance at Oct. 11, 2010 | ' | ' | ' | ' | ||
Common shares issued - founder for property and equipment | $3,100 | $186,000 | [1] | ($182,900) | ' | |
Common shares issued - founder for property and equipment, shares | [1] | ' | 186,000,000 | ' | ' | |
Additional paid in capital by founder | 169 | ' | [1] | 169 | ' | |
Net loss | -21 | ' | [1] | -21 | ' | |
Ending Balance at Dec. 31, 2010 | 3,248 | 186,000 | [1] | -182,752 | ' | |
Ending Balance, shares at Dec. 31, 2010 | [1] | ' | 186,000,000 | ' | ' | |
Additional paid in capital by founder | 2,146 | ' | [1] | 2,146 | ' | |
Issue of common stock | 41,000 | 12,300 | [1] | 28,700 | ' | |
Issue of common stock, shares | [1] | ' | 12,300,000 | ' | ' | |
Net loss | -12,606 | ' | [1] | -12,606 | ' | |
Ending Balance at Dec. 31, 2011 | 33,788 | 198,300 | [1] | -164,512 | ' | |
Ending Balance, shares at Dec. 31, 2011 | [1] | ' | 198,300,000 | ' | ' | |
Net loss | -33,572 | ' | [1] | -33,572 | ' | |
Ending Balance at Dec. 31, 2012 | 216 | 198,300 | [1] | -198,084 | ' | |
Ending Balance, shares at Dec. 31, 2012 | [1] | ' | 198,300,000 | ' | ' | |
Additional paid in capital by founder | 2,950 | ' | [1] | 2,950 | ' | |
Net loss | -14,690 | ' | [1] | -14,690 | ' | |
Ending Balance at Sep. 30, 2013 | -11,524 | 198,300 | [1] | -209,824 | ' | |
Ending Balance, shares at Sep. 30, 2013 | [1] | ' | 198,300,000 | ' | ' | |
Net loss | -1,170,666 | ' | -1,170,666 | ' | ||
Foreign currency translation adjustments | 7,128 | ' | ' | 7,128 | ||
Ending Balance at Jun. 30, 2014 | ($1,175,062) | $198,300 | ($1,380,490) | $7,128 | ||
Ending Balance, shares at Jun. 30, 2014 | ' | 198,300,000 | ' | ' | ||
[1] | The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | 45 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net loss | ($1,170,666) | ($27,814) | ($1,380,490) |
Depreciation and amortization expense | 41,774 | ' | 41,774 |
Loss on forward stock split | ' | ' | 166,295 |
Changes in operating assets and liabilities: | ' | ' | ' |
Decrease in deposits, prepayments and other receivables | 32,650 | 9,000 | 44,202 |
Increase in inventories | -4,017 | ' | -4,017 |
Increase in accruals and other payables | 115,679 | 2,669 | 98,319 |
Net cash used in operating activities | -984,580 | -16,145 | -1,033,917 |
INVESTING ACTIVITIES | ' | ' | ' |
Purchases of property, plant and equipment | -147,339 | ' | -147,339 |
Net cash inflow on acquisition of subsidiaries (Note 8) | 897,453 | ' | 897,453 |
Net cash provided by investing activities | 750,114 | ' | 750,114 |
FINANCING ACTIVITIES | ' | ' | ' |
Loan borrowings | 2,025,072 | ' | 2,025,072 |
Capital stock issued for cash | ' | ' | 49,365 |
Paid In capital | ' | 2,850 | ' |
Net cash provided by financing activities | 2,025,072 | 2,850 | 2,074,437 |
Effect of foreign currency translation | 7,128 | ' | 7,128 |
Net increase (decrease) in cash and cash equivalents | 1,790,606 | -13,295 | 1,790,634 |
Cash and cash equivalents, beginning of period | 28 | 13,357 | ' |
Cash and cash equivalents, end of period | 1,797,762 | 62 | 1,797,762 |
Supplemental cash flow disclosures: | ' | ' | ' |
Cash paid for interest expense | ' | ' | ' |
Cash paid for income taxes | ' | ' | ' |
Organization_and_Nature_of_Ope
Organization and Nature of Operations | 9 Months Ended | ||
Jun. 30, 2014 | |||
Organization and Nature of Operations [Abstract] | ' | ||
Organization and nature of operations | ' | ||
1 | Organization and nature of operations | ||
Moxian China, Inc. (“the Company”), formerly SECURE NetCheckIn, Inc., was incorporated under the laws of the State of Nevada on October 12, 2010. Effective on December 13, 2013, the Company changed its name to “Moxian China, Inc.” with its trading symbol being “MOXC.” Also effective on December 13, 2013, the Company increased the number of shares that it is authorized to issue to a total of 600,000,000 shares, including 500,000,000 shares of Common Stock and 100,000,000 shares of preferred stock, par value $.001 per share. In addition, also on December 13, 2013, the Company effectuated a 60-for-1 forward stock split of the Common Stock, without changing the par value or the number of authorized shares of the Common Stock (the “Forward Split”). | |||
On February 17, 2014, the Company incorporated Moxian CN Group Limited (“Moxian CN Samoa”) under the laws of Independent State of Samoa. | |||
On February 21, 2014, the Company completed the acquisition of Moxian Group Limited (“Moxian BVI”) and its subsidiaries from Moxian Group Holdings, Inc. pursuant to a License and Acquisition Agreement. | |||
Moxian BVI was incorporated on July 3, 2012 under the laws of British Virgin Islands. Moxian Group Holdings, Inc. owned 100% equity interests of Moxian BVI prior to the closing of the License and Acquisition Agreement, among the Company, Moxian BVI and Moxian Group Holdings, Inc. | |||
Moxian (Hong Kong) Limited (“Moxian HK”) was incorporated on January 18, 2013 and became Moxian BVI’s subsidiary since February 14, 2013. Moxian HK is currently engaged in the business of online social media. Moxian HK operates through two wholly-owned subsidiaries: Moxian Technologies (Shenzhen) Co., Ltd. (“Moxian Shenzhen”) and Moxian Malaysia SDN BHD (“Moxian Malaysia”). | |||
Moxian Shenzhen was invested and wholly owned by Moxian HK. Moxian Shenzhen was incorporated on April 8, 2013 and was engaged in the business of internet technology, computer software, commercial information consulting, etc. | |||
Moxian Malaysia was incorporated on March 1, 2013 and became Moxian HK’s subsidiary since April 2, 2013. Moxian Malaysia is conducting its business in IT services and media advertising industry. | |||
The Company is in the development stage as defined in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915. Among the disclosures required by FASB ASC 915 are that the Company’s unaudited consolidated financial statements be identified as those of a development stage company, and that the statements of earnings, retained earnings and stockholders’ equity and cash flows disclose activity since the date of the Company’s inception. The fiscal year end is September 30. | |||
The Company's unaudited consolidated financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has not generated significant revenue since inception and has never paid any dividends and is unlikely to pay dividends or generate significant earnings in the immediate or foreseeable future. Since October 12, 2010 (inception), the Company has not generated revenue of $15,802 and has incurred an accumulated deficit of $1,380,490. | |||
The Company is currently devoting its efforts to develop social networking website and through which to generate servicing income. The Company’s ability to continue as a going concern is dependent upon its ability to develop additional sources of capital, develop websites, generate servicing income, and ultimately, achieve profitable operations. The accompanying unaudited consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. |
Summary_of_Principal_Accountin
Summary of Principal Accounting Policies | 9 Months Ended | |
Jun. 30, 2014 | ||
Summary of principal accounting policies [Abstract] | ' | |
Summary of principal accounting policies | ' | |
2 | Summary of principal accounting policies | |
Basis of presentation | ||
The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. | ||
Revenue recognition | ||
Revenue are recognized when persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price is fixed or determinable; and collectability is reasonably assured. | ||
Use of estimates | ||
The preparation of the unaudited consolidated 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 disclosures of contingent assets and liabilities at the date of the unaudited consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||
Cash and cash equivalents | ||
The Company considers all short-term highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less to be cash equivalents. | ||
Income taxes | ||
The Company utilizes FASB Accounting Standard Codification Topic 740 (“ASC 740”) “Income taxes” (formerly known as SFAS No. 109, "Accounting for Income Taxes"), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the unaudited consolidated financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. | ||
ASC 740 “Income taxes” (formerly known as Interpretation No. 48, Accounting for Uncertainty in Income Taxes, an interpretation of Statement of Financial Accounting Standards No. 109 (“FIN 48”)) clarifies the accounting for uncertainty in tax positions. This interpretation requires that an entity recognizes in the unaudited consolidated financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgement occurs. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the statements of operations. The adoption of ASC 740 did not have a significant effect on the unaudited consolidated financial statements. | ||
Comprehensive income | ||
The Company has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income” (formerly known as SFAS No. 130, “Reporting Comprehensive Income”), which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Accumulated other comprehensive income represents the accumulated balance of foreign currency translation adjustments of the Company. | ||
Fair value of financial instruments | ||
The carrying values of the Company’s financial instruments, including cash and cash equivalents, trade and other receivables, deposits, trade and other payables approximate their fair values due to the short-term maturity of such instruments. The carrying amounts of borrowings approximate their fair values because the applicable interest rates approximate current market rates. | ||
Earnings per share | ||
Basic earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. The average market price during the year is used to compute equivalent shares. | ||
FASB Accounting Standard Codification Topic 260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share. Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based payment transactions provided in ASC 260 to determine diluted earnings per share. | ||
Website development costs | ||
The Company recognized the costs associated with developing a website in accordance with ASC 350-50 “Website Development Cost” that codified the American Institute of Certified Public Accountants (“AICPA”) Statement of Position (“SOP”) NO. 98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal Use”. Relating to website development costs the Company follows the guidance pursuant to the Emerging Issues Task Force (EITF) NO. 00-2, “Accounting for Website Development Costs”. The website development costs are divided into three stages, planning, development and production. The development stage can further be classified as application and infrastructure development, graphics development and content development. In short, website development cost for internal use should be capitalized except content input and data conversion costs in content development stage. | ||
Costs associated with the website consist primarily of website development costs paid to third parties. These capitalized costs will be amortized based on their estimated useful life over three years upon the website becoming operational. Internal costs related to the development of website content will be charged to operations as incurred. Web-site development costs related to the customers are charged to cost of sales. | ||
Plant and Equipment | ||
Plant and equipment are recorded at cost. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives as follows: | ||
Computers | 3 years | |
Office equipment | 3 years | |
Furniture and fixtures | 3 years | |
Leasehold improvements | Shorter of estimated useful life or term of lease | |
Recently issued accounting pronouncements | ||
The FASB has issued Accounting Standards Update (ASU) No. 2014-06, Technical Corrections and Improvements Related to Glossary Terms. The amendments in this ASU relate to glossary terms and cover a wide range of Topics in the FASB’s Accounting Standards Codification™ (Codification). These amendments are presented in four sections: | ||
1. Deletion of Master Glossary Terms (Section A) arising because of terms that were carried forward from source literature (e.g., FASB Statements, EITF Issues, and so forth) to the Codification but were not utilized in the Codification. | ||
2. Addition of Master Glossary Term Links (Section B) arising from Master Glossary terms whose links did not carry forward to the Codification. | ||
3. Duplicate Master Glossary Terms (Section C) arising from Master Glossary terms that appear multiple times in the Master Glossary with similar, but not identical, definitions. | ||
4. Other Technical Corrections Related to Glossary Terms (Section D) arising from miscellaneous changes to update Master Glossary terms. | ||
The amendments do not have transition guidance and are effective upon issuance for both public entities and nonpublic entities. | ||
The FASB has 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. The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. | ||
Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. | ||
In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. | ||
The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. | ||
The amendments in this ASU enhance convergence between U.S. GAAP and International Financial Reporting Standards (IFRS). Part of the new definition of discontinued operation is based on elements of the definition of discontinued operations in IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations. | ||
The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. For most nonpublic organizations, it is effective for annual financial statements with fiscal years beginning on or after December 15, 2014. Early adoption is permitted. | ||
The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information. |
Property_and_Equipment_Net
Property and Equipment, Net | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and equipment, net | ' | ||||||||
3 | Property and equipment, net | ||||||||
As of | |||||||||
June 30, | Sept 30, | ||||||||
2014 | 2013 | ||||||||
Computers | $ | 146,301 | $ | - | |||||
Office equipment | 43,062 | 495 | |||||||
Furniture and fixtures | 21,256 | - | |||||||
Leasehold improvements | 160,912 | - | |||||||
Total property and equipment | 371,531 | 495 | |||||||
Less: accumulated depreciation and amortization | 89,355 | - | |||||||
Total property and equipment, net | $ | 282,176 | $ | 495 | |||||
The depreciation expenses for the nine months ended June 30, 2014 and 2013 were $41,774 and nil, respectively. |
Loans_from_Shareholders
Loans from Shareholders | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Loans from shareholders [Abstract] | ' | ||||||||
Loans from shareholders | ' | ||||||||
4 | Loans from shareholders | ||||||||
The loans are made to Moxian Hong Kong, Moxian Shenzhen, and Moxian Malaysia and are unsecured, interest free and will be due and payable in 12 months. Details of the loans are analyzed as follows: | |||||||||
As of | |||||||||
Repayable | 31-Mar-14 | Sep 30, | |||||||
2013 | |||||||||
Within 1 month | $ | - | $ | - | |||||
1 to 3 months | 879,978 | - | |||||||
More than 3 months but less than 12 months | 4,033,664 | - | |||||||
$ | 4,913,642 | $ | - |
Shareholders_Equity
Shareholders' Equity | 9 Months Ended | |
Jun. 30, 2014 | ||
Equity [Abstract] | ' | |
Shareholders' equity | ' | |
5 | Shareholders’ equity | |
Prior to November 14, 2013, the authorized capital stock of the Company consisted of 425,000,000 shares of Common Stock with a par value of $0.001. The Company issued *186,000,000 shares of our Common Stock to Brandi DeFoor (“DeFoor”), our former CEO and former Director, on October 2010 (inception) for cash in the amount of $100 and property valued at $3,169. During the year ended December 31, 2011, the Company’s founder contributed $2,146 in additional capital. | ||
In August 2011, the Company issued *12,300,000 shares of common stock to investors for the value of $41,000, in exchange for subscription receivables. | ||
During the nine months ended September 30, 2013, the Company’s founder contributed $2,950 in additional capital. | ||
On November 14, 2013, DeFoor, entered into a Securities Purchase Agreement with three investors (the “Purchasers”), pursuant to which DeFoor sold to the Purchasers her 186,000,000 shares of common stock, par value $.001 per share of the Company (the “Majority Interests”) for the consideration in the aggregate amount of $264,500. As a result of the transaction, the Purchasers aggregately own approximately 93.8% of the total outstanding shares of the Company’s Common Stock on a fully-diluted basis. | ||
Effective December 13, 2013, the Company amended its Articles of Incorporation to: (i) change the Company’s name from “SECURE NetCheckIn, Inc.” to “Moxian China, Inc.” (the “Name Change”), and (ii) implement a 60-for-1 forward stock split of its issued and outstanding common stock, par value $.001 per share (the “Forward Split”). | ||
In addition, as a result of the Name Change, the trading symbol of the Company changed to a new symbol “MOXC”. As a result of the Forward Split, the common stock issued and outstanding increased to 198,300,000 shares. | ||
Also effective on December 13, 2013, the Company increased the number of shares that it is authorized to issue to a total of 600,000,000 shares, including 500,000,000 shares of Common Stock and 100,000,000 shares of preferred stock, par value $.001 per share. | ||
There are no warrants or options outstanding to acquire any additional shares of common stock of the Company. | ||
*The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Earnings per share [Abstract] | ' | ||||||||
Earnings per share | ' | ||||||||
6 | Earnings per share | ||||||||
For the nine months ended | |||||||||
June 30, | |||||||||
2014 | 2013 | ||||||||
Net loss attributable to ordinary shareholders for computing basic net loss per ordinary share | $ | (1,170,666 | ) | $ | (27,814 | ) | |||
Weighted-average shares of common stock outstanding in computing net loss per common stock | |||||||||
Basic | 198,300,000 | 198,300,000 | |||||||
Dilutive shares | - | - | |||||||
Diluted | 198,300,000 | 198,300,000 | |||||||
Basic earnings per share | $ | (0.01 | ) | $ | (0.00 | ) | |||
Diluted earnings per share | $ | (0.01 | ) | $ | (0.00 | ||||
*The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Jun. 30, 2014 | ||
Income taxes [Abstract] | ' | |
Income taxes | ' | |
7 | Income taxes | |
The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from the net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. For the period October 12, 2010 (date of inception) through June 30, 2014, the Company incurred losses, resulting from operating activities, which result in deferred tax assets at the effective statutory rates. The deferred tax asset has been off-set by an equal valuation allowance. | ||
Moxian BVI is incorporated in the British Virgin Islands. Moxian BVI did not generate taxable income in the British Virgin Islands for the period from July 3, 2012 to June 30, 2014. | ||
Moxian HK was incorporated in Hong Kong and is subject to Hong Kong profits tax at 16.5%. No provision for Hong Kong income or profit tax has been made as the Company has no assessable profit for the period. The cumulative tax losses will represent a deferred tax asset. | ||
Moxian Shenzhen was incorporated in the People’s Republic of China. Moxian Shenzhen did not generate taxable income in the People’s Republic of China for the period from April 8, 2013 to June 30, 2014. | ||
Moxian Malaysia was incorporated in Malaysia. Moxian Malaysia did not generate taxable income in Malaysia for the period from March 1, 2013 to June 30, 2014. | ||
The Company will provide a valuation allowance for all of its subsidiaries in full amount of the deferred tax asset since there is no assurance of future taxable income. |
Goodwill
Goodwill | 9 Months Ended | ||||
Jun. 30, 2014 | |||||
Goodwill Disclosure [Abstract] | ' | ||||
Goodwill | ' | ||||
8 | Goodwill | ||||
On February 21, 2014, the Company entered into a License and Acquisition Agreement with Moxian Group Holdings, Inc. (“MOXG”) (the “License and Acquisition Agreement”), whereby the Company (i) acquired all the equity interests of Moxian BVI, and (ii) obtained the license to use the intellectual property rights (as define below) of MOXG. Pursuant to the License and Acquisition Agreement, MOXG agreed to sell, convey, and transfer 100% of the equity interests of Moxian BVI to Moxian CN Samoa, a newly incorporated wholly-owned subsidiary of the Company, in consideration of an aggregate of $1,000,000. As a result, Moxian BVI, together with its subsidiaries, Moxian HK, Moxian Shenzhen, and Moxian Malaysia, became the Company’s subsidiaries. Under the License and Acquisition Agreement, MOXG also agreed to grant us the exclusive right to use MOXG’s intellectual property rights (collectively, the “IP Rights”) in Mainland China, Malaysia, and other countries and regions where MOXG conducts its business (the “Licensed Territory”), and the exclusive right to solicit, promote, distribute and sell MOXG products and services in the Licensed Territory for five years (the “License”). In exchange for such License, the Company agreed to pay to MOXG: (i) $1,000,000 as a license maintenance royalty each year commencing from the second year from the date of the agreement; and (ii) 3% of the gross profit of distribution and sale of MOXG products and services as an earned royalty. Pursuant to the License and Acquisition Agreement, the Company has the right to acquire the new IP Rights that are developed by MOXG and sub-license such rights to a third party. The Company also has the obligation to develop the social media market in the Licensed Territory of MOXG products and services. | |||||
Assets acquired and liabilities assumed at the date of acquisition: | |||||
Current assets | |||||
Cash | 897,453 | ||||
Prepayments, deposits and other receivables | 264,729 | ||||
Inventory | 1,129 | ||||
Non-current assets | |||||
Property and equipment, net | 176,116 | ||||
Current liabilities | |||||
Other payables and accruals | (6,059 | ) | |||
Convertible loan | (2,888,570 | ) | |||
(1,555,202 | ) | ||||
Goodwill arising on acquisition: | |||||
Consideration transferred | 1,000,000 | ||||
Less: fair value of identifiable net assets acquired | 1,555,202 | ||||
2,555,202 | |||||
Net cash inflow on acquisition of subsidiaries: | |||||
Consideration paid in cash | - | ||||
Less: cash and cash equivalent balances acquired | 897,453 | ||||
897,453 |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments and contingencies [Abstract] | ' | ||||
Commitments and contingencies | ' | ||||
9 | Commitments and contingencies | ||||
Operating Lease | |||||
The Company leases a number of properties under operating leases. Rental expenses under operating leases for the nine months ended June 30, 2014 and 2013 were $51,308 and nil respectively. | |||||
As of June 30, 2014, the Company was obligated under non-cancellable operating leases minimum rentals as follows: | |||||
Twelve months ended March 31, | |||||
2015 | $ | 143,327 | |||
2016 | 86,564 | ||||
2017 | - | ||||
Thereafter | - | ||||
Total minimum lease payments | $ | 229,891 | |||
Legal Proceeding | |||||
There has been no legal proceeding in which the Company is a party for the nine months ended June 30, 2014. |
Subsequent_Events
Subsequent Events | 9 Months Ended | ||
Jun. 30, 2014 | |||
Subsequent Events [Abstract] | ' | ||
Subsequent Events | ' | ||
10 | Subsequent Events | ||
There were no events or transactions other than those disclosed in this report, if any, that would require recognition or disclosure in our Financial Statements for the nine months ended June 30, 2014. |
Summary_of_Principal_Accountin1
Summary of Principal Accounting Policies (Policies) | 9 Months Ended | |
Jun. 30, 2014 | ||
Summary of principal accounting policies [Abstract] | ' | |
Basis of presentation | ' | |
Basis of presentation | ||
The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America. | ||
Revenue recognition | ' | |
Revenue recognition | ||
Revenue are recognized when persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price is fixed or determinable; and collectability is reasonably assured. | ||
Use of estimates | ' | |
Use of estimates | ||
The preparation of the unaudited consolidated 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 disclosures of contingent assets and liabilities at the date of the unaudited consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||
Cash and cash equivalents | ' | |
Cash and cash equivalents | ||
The Company considers all short-term highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less to be cash equivalents. | ||
Income taxes | ' | |
Income taxes | ||
The Company utilizes FASB Accounting Standard Codification Topic 740 (“ASC 740”) “Income taxes” (formerly known as SFAS No. 109, "Accounting for Income Taxes"), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the unaudited consolidated financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. | ||
ASC 740 “Income taxes” (formerly known as Interpretation No. 48, Accounting for Uncertainty in Income Taxes, an interpretation of Statement of Financial Accounting Standards No. 109 (“FIN 48”)) clarifies the accounting for uncertainty in tax positions. This interpretation requires that an entity recognizes in the unaudited consolidated financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgement occurs. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the statements of operations. The adoption of ASC 740 did not have a significant effect on the unaudited consolidated financial statements. | ||
Comprehensive income | ' | |
Comprehensive income | ||
The Company has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income” (formerly known as SFAS No. 130, “Reporting Comprehensive Income”), which establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Accumulated other comprehensive income represents the accumulated balance of foreign currency translation adjustments of the Company. | ||
Fair value of financial instruments | ' | |
Fair value of financial instruments | ||
The carrying values of the Company’s financial instruments, including cash and cash equivalents, trade and other receivables, deposits, trade and other payables approximate their fair values due to the short-term maturity of such instruments. The carrying amounts of borrowings approximate their fair values because the applicable interest rates approximate current market rates. | ||
Earnings per share | ' | |
Earnings per share | ||
Basic earnings per share is based on the weighted average number of common shares outstanding during the period while the effects of potential common shares outstanding during the period are included in diluted earnings per share. The average market price during the year is used to compute equivalent shares. | ||
FASB Accounting Standard Codification Topic 260 (“ASC 260”), “Earnings Per Share,” requires that employee equity share options, non-vested shares and similar equity instruments granted to employees be treated as potential common shares in computing diluted earnings per share. Diluted earnings per share should be based on the actual number of options or shares granted and not yet forfeited, unless doing so would be anti-dilutive. The Company uses the “treasury stock” method for equity instruments granted in share-based payment transactions provided in ASC 260 to determine diluted earnings per share. | ||
Website development costs | ' | |
Website development costs | ||
The Company recognized the costs associated with developing a website in accordance with ASC 350-50 “Website Development Cost” that codified the American Institute of Certified Public Accountants (“AICPA”) Statement of Position (“SOP”) NO. 98-1, “Accounting for the Costs of Computer Software Developed or Obtained for Internal Use”. Relating to website development costs the Company follows the guidance pursuant to the Emerging Issues Task Force (EITF) NO. 00-2, “Accounting for Website Development Costs”. The website development costs are divided into three stages, planning, development and production. The development stage can further be classified as application and infrastructure development, graphics development and content development. In short, website development cost for internal use should be capitalized except content input and data conversion costs in content development stage. | ||
Costs associated with the website consist primarily of website development costs paid to third parties. These capitalized costs will be amortized based on their estimated useful life over three years upon the website becoming operational. Internal costs related to the development of website content will be charged to operations as incurred. Web-site development costs related to the customers are charged to cost of sales. | ||
Plant and Equipment | ' | |
Plant and Equipment | ||
Plant and equipment are recorded at cost. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives as follows: | ||
Computers | 3 years | |
Office equipment | 3 years | |
Furniture and fixtures | 3 years | |
Leasehold improvements | Shorter of estimated useful life or term of lease | |
Recently issued accounting pronouncements | ' | |
Recently issued accounting pronouncements | ||
The FASB has issued Accounting Standards Update (ASU) No. 2014-06, Technical Corrections and Improvements Related to Glossary Terms. The amendments in this ASU relate to glossary terms and cover a wide range of Topics in the FASB’s Accounting Standards Codification™ (Codification). These amendments are presented in four sections: | ||
1. Deletion of Master Glossary Terms (Section A) arising because of terms that were carried forward from source literature (e.g., FASB Statements, EITF Issues, and so forth) to the Codification but were not utilized in the Codification. | ||
2. Addition of Master Glossary Term Links (Section B) arising from Master Glossary terms whose links did not carry forward to the Codification. | ||
3. Duplicate Master Glossary Terms (Section C) arising from Master Glossary terms that appear multiple times in the Master Glossary with similar, but not identical, definitions. | ||
4. Other Technical Corrections Related to Glossary Terms (Section D) arising from miscellaneous changes to update Master Glossary terms. | ||
The amendments do not have transition guidance and are effective upon issuance for both public entities and nonpublic entities. | ||
The FASB has 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. The amendments in the ASU change the criteria for reporting discontinued operations while enhancing disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance in U.S. GAAP. | ||
Under the new guidance, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Examples include a disposal of a major geographic area, a major line of business, or a major equity method investment. | ||
In addition, the new guidance requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. | ||
The new guidance also requires disclosure of the pre-tax income attributable to a disposal of a significant part of an organization that does not qualify for discontinued operations reporting. This disclosure will provide users with information about the ongoing trends in a reporting organization’s results from continuing operations. | ||
The amendments in this ASU enhance convergence between U.S. GAAP and International Financial Reporting Standards (IFRS). Part of the new definition of discontinued operation is based on elements of the definition of discontinued operations in IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations. | ||
The amendments in the ASU are effective in the first quarter of 2015 for public organizations with calendar year ends. For most nonpublic organizations, it is effective for annual financial statements with fiscal years beginning on or after December 15, 2014. Early adoption is permitted. | ||
The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information. |
Summary_of_Principal_Accountin2
Summary of Principal Accounting Policies (Tables) | 9 Months Ended | |
Jun. 30, 2014 | ||
Summary of principal accounting policies [Abstract] | ' | |
Summary of estimated useful lives of plant and equipment | ' | |
Computers | 3 years | |
Office equipment | 3 years | |
Furniture and fixtures | 3 years | |
Leasehold improvements | Shorter of estimated useful life or term of lease |
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Summary of Property and equipment, net | ' | ||||||||
As of | |||||||||
June 30, | Sept 30, | ||||||||
2014 | 2013 | ||||||||
Computers | $ | 146,301 | $ | - | |||||
Office equipment | 43,062 | 495 | |||||||
Furniture and fixtures | 21,256 | - | |||||||
Leasehold improvements | 160,912 | - | |||||||
Total property and equipment | 371,531 | 495 | |||||||
Less: accumulated depreciation and amortization | 89,355 | - | |||||||
Total property and equipment, net | $ | 282,176 | $ | 495 |
Loans_from_Shareholders_Tables
Loans from Shareholders (Tables) | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Loans from shareholders [Abstract] | ' | ||||||||
Schedule of Loans Repayable | ' | ||||||||
As of | |||||||||
Repayable | 31-Mar-14 | Sep 30, | |||||||
2013 | |||||||||
Within 1 month | $ | - | $ | - | |||||
1 to 3 months | 879,978 | - | |||||||
More than 3 months but less than 12 months | 4,033,664 | - | |||||||
$ | 4,913,642 | $ | - | ||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Earnings per share [Abstract] | ' | ||||||||
Summary of computation of basic and diluted net income per common share | ' | ||||||||
For the nine months ended | |||||||||
June 30, | |||||||||
2014 | 2013 | ||||||||
Net loss attributable to ordinary shareholders for computing basic net loss per ordinary share | $ | (1,170,666 | ) | $ | (27,814 | ) | |||
Weighted-average shares of common stock outstanding in computing net loss per common stock | |||||||||
Basic | 198,300,000 | 198,300,000 | |||||||
Dilutive shares | - | - | |||||||
Diluted | 198,300,000 | 198,300,000 | |||||||
Basic earnings per share | $ | (0.01 | ) | $ | (0.00 | ) | |||
Diluted earnings per share | $ | (0.01 | ) | $ | (0.00 | ||||
*The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Goodwill_Tables
Goodwill (Tables) | 9 Months Ended | ||||
Jun. 30, 2014 | |||||
Goodwill Disclosure [Abstract] | ' | ||||
Schedule of goodwill | ' | ||||
Current assets | |||||
Cash | 897,453 | ||||
Prepayments, deposits and other receivables | 264,729 | ||||
Inventory | 1,129 | ||||
Non-current assets | |||||
Property and equipment, net | 176,116 | ||||
Current liabilities | |||||
Other payables and accruals | (6,059 | ) | |||
Convertible loan | (2,888,570 | ) | |||
(1,555,202 | ) | ||||
Goodwill arising on acquisition: | |||||
Consideration transferred | 1,000,000 | ||||
Less: fair value of identifiable net assets acquired | 1,555,202 | ||||
2,555,202 | |||||
Net cash inflow on acquisition of subsidiaries: | |||||
Consideration paid in cash | - | ||||
Less: cash and cash equivalent balances acquired | 897,453 | ||||
897,453 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments and contingencies [Abstract] | ' | ||||
Schedule of operating leases minimum rentals | ' | ||||
Twelve months ended March 31, | |||||
2015 | $ | 143,327 | |||
2016 | 86,564 | ||||
2017 | - | ||||
Thereafter | - | ||||
Total minimum lease payments | $ | 229,891 | |||
Organization_and_Nature_of_Ope1
Organization and Nature of Operations (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 45 Months Ended | ||||
Dec. 13, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jul. 03, 2012 | |
Nature Of Operations And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Authorized capital shares | 600,000,000 | 6,000,000,000 | ' | 6,000,000,000 | ' | 6,000,000,000 | ' | ' |
Common stock, shares authorized | 500,000,000 | 500,000,000 | ' | 500,000,000 | ' | 500,000,000 | 500,000,000 | ' |
Common stock, par value | $0.00 | $0.00 | ' | $0.00 | ' | $0.00 | $0.00 | ' |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | ' | 100,000,000 | ' | 100,000,000 | 100,000,000 | ' |
Preferred stock, par value | $0.00 | $0.00 | ' | $0.00 | ' | $0.00 | $0.00 | ' |
Common Stock, forward stock split | '60-for-1 | ' | ' | ' | ' | ' | ' | ' |
Percentage of equity ownership interest | ' | ' | ' | ' | ' | ' | ' | 100.00% |
Revenues | ' | $15,802 | ' | $15,802 | ' | $15,802 | ' | ' |
Accumulated deficit | ' | $1,380,490 | ' | $1,380,490 | ' | $1,380,490 | $209,824 | ' |
Summary_of_Principal_Accountin3
Summary of Principal Accounting Policies (Details) | 9 Months Ended |
Jun. 30, 2014 | |
Summary of estimated useful lives of plant and equipment | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Computers [Member] | ' |
Summary of estimated useful lives of plant and equipment | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Office equipment [Member] | ' |
Summary of estimated useful lives of plant and equipment | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Furniture and fixtures [Member] | ' |
Summary of estimated useful lives of plant and equipment | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Leasehold improvements [Member] | ' |
Summary of estimated useful lives of plant and equipment | ' |
Estimated useful life | 'Shorter of estimated useful life or term of lease |
Summary_of_Principal_Accountin4
Summary of Principal Accounting Policies (Details Textual) | 9 Months Ended |
Jun. 30, 2014 | |
Summary of principal accounting policies (Textual) | ' |
Website estimated useful life | '3 years |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | Jun. 30, 2014 | Sep. 30, 2013 |
Summary of Property and equipment | ' | ' |
Total property and equipment | $371,531 | $495 |
Less: accumulated depreciation and amortization | 89,355 | ' |
Total property and equipment, net | 282,176 | 495 |
Computers [Member] | ' | ' |
Summary of Property and equipment | ' | ' |
Total property and equipment | 146,301 | ' |
Total property and equipment, net | 146,301 | ' |
Office Equipment [Member] | ' | ' |
Summary of Property and equipment | ' | ' |
Total property and equipment | 43,062 | 495 |
Total property and equipment, net | 43,062 | 495 |
Furniture and Fixtures [Member] | ' | ' |
Summary of Property and equipment | ' | ' |
Total property and equipment | 21,256 | ' |
Total property and equipment, net | 21,256 | ' |
Leasehold Improvements [Member] | ' | ' |
Summary of Property and equipment | ' | ' |
Total property and equipment | 160,912 | ' |
Total property and equipment, net | $160,912 | ' |
Property_and_Equipment_Net_Det1
Property and Equipment, Net (Details Textuals) (USD $) | 3 Months Ended | 9 Months Ended | 45 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | |
Property and equipment, net (Textual) | ' | ' | ' | ' | ' |
Depreciation expenses | $26,417 | ' | $41,774 | ' | $41,774 |
Loans_from_Shareholders_Detail
Loans from Shareholders (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 |
Summary of Loans from shareholders | ' | ' | ' |
Loans from shareholders | $4,913,642 | $4,913,642 | ' |
Within 1 month | ' | ' | ' |
Summary of Loans from shareholders | ' | ' | ' |
Loans from shareholders | ' | ' | ' |
1 to 3 months | ' | ' | ' |
Summary of Loans from shareholders | ' | ' | ' |
Loans from shareholders | ' | 879,978 | ' |
More than 3 months but less than 12 months | ' | ' | ' |
Summary of Loans from shareholders | ' | ' | ' |
Loans from shareholders | ' | $4,033,664 | ' |
Loans_from_Shareholders_Detail1
Loans from Shareholders (Details Textual) | 9 Months Ended |
Jun. 30, 2014 | |
Loans from shareholders (Textual) | ' |
Loan due and payable period | '12 months |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 0 Months Ended | 45 Months Ended | 1 Months Ended | 0 Months Ended | |||||||
Dec. 13, 2013 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Nov. 14, 2013 | Dec. 31, 2011 | Aug. 31, 2011 | Nov. 14, 2013 | ||||
Former Chief Executive Officer And Former Director [Member] | Former Chief Executive Officer And Former Director [Member] | Former Chief Executive Officer And Former Director [Member] | Investor [Member] | Securities Purchase Agreement [Member] | |||||||
Shareholders Equity Textual [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | |||
Common stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | ' | ' | ' | ' | ' | |||
Capital stock per share | ' | ' | ' | ' | $0.00 | ' | ' | ' | |||
Common stock, par value | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | $0.00 | |||
Common stock issued for cash, Shares | ' | ' | ' | ' | ' | ' | 12,300,000 | [1] | ' | ||
Common stock issued for cash, Value | ' | ' | ' | $100 | ' | ' | $41,000 | ' | |||
Property valued | ' | ' | ' | 3,169 | ' | ' | ' | ' | |||
Founder contributed paid in additional capital | ' | ' | 2,950 | ' | ' | 2,146 | ' | ' | |||
Common stock, shares issued | ' | 198,300,000 | 198,300,000 | ' | ' | ' | ' | 186,000,000 | |||
Common stock, shares outstanding | ' | 198,300,000 | 198,300,000 | ' | ' | ' | ' | ' | |||
Aggregate amount of common stock share issued | ' | $198,300 | $198,300 | [1] | ' | ' | ' | ' | $264,500 | ||
Percentage of outstanding common stock | ' | ' | ' | ' | ' | ' | ' | 93.80% | |||
Common Stock, forward stock split | '60-for-1 | ' | ' | ' | ' | ' | ' | ' | |||
Capital Units, Authorized | 600,000,000 | 6,000,000,000 | ' | ' | 425,000,000 | [1] | ' | ' | ' | ||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | |||
Preferred stock, par value | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | ' | |||
[1] | The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 9 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | |||
Summary of computation of basic and diluted net income per common share | ' | ' | ||
Net loss attributable to ordinary shareholders for computing basic net loss per ordinary share | ($1,170,666) | ($27,814) | ||
Weighted-average shares of common stock outstanding in computing net loss per common stock | ' | ' | ||
Basic | 198,300,000 | [1] | 198,300,000 | [1] |
Dilutive shares | ' | [1] | ' | [1] |
Diluted | 198,300,000 | [1] | 198,300,000 | [1] |
Basic earnings per share | ($0.01) | $0 | ||
Diluted earnings per share | ($0.01) | $0 | ||
[1] | The number of shares of common stock has been retroactively restated to reflect the 60-for-1 forward stock split effected on December 13, 2013. |
Earnings_Per_Share_Details_Tex
Earnings Per Share (Details Textuals) | 0 Months Ended |
Dec. 13, 2013 | |
Earnings per share (Textual) | ' |
Common Stock, forward stock split | '60-for-1 |
Income_Taxes_Details
Income Taxes (Details) | 9 Months Ended |
Jun. 30, 2014 | |
Income taxes (Textual) | ' |
Hong Kong profits tax rate | 16.50% |
Goodwill_Details
Goodwill (Details) (USD $) | Jun. 30, 2014 |
Current assets | ' |
Cash | $897,453 |
Prepayments, deposits and other receivables | 264,729 |
Inventory | 1,129 |
Non-current assets | ' |
Property and equipment, net | 176,116 |
Current liabilities | ' |
Other payables and accruals | -6,059 |
Convertible loan | -2,888,570 |
Current liabilities, Net | -1,555,202 |
Goodwill arising on acquisition: | ' |
Consideration transferred | 1,000,000 |
Less: fair value of identifiable net assets acquired | 1,555,202 |
Goodwill arising on acquisition, Net | 2,555,202 |
Net cash inflow on acquisition of subsidiaries: | ' |
Consideration paid in cash | ' |
Less: cash and cash equivalent balances acquired | 897,453 |
Net cash inflow on acquisition of subsidiaries, Net | $897,453 |
Goodwill_Details_Textuals
Goodwill (Details Textuals) (USD $) | 9 Months Ended | |
Jun. 30, 2013 | Jun. 30, 2014 | |
Goodwill Textual [Abstract] | ' | ' |
Equity interests of Moxian BVI | ' | 100.00% |
Consideration transferred | ' | $1,000,000 |
License, Description | 'In exchange for such License, the Company agreed to pay to MOXG: (i) $1,000,000 as a license maintenance royalty each year commencing from the second year from the date of the agreement; and (ii) 3% of the gross profit of distribution and sale of MOXG products and services as an earned royalty. | ' |
Business acquisition license period | '5 years | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Jun. 30, 2014 |
Commitments and contingencies [Abstract] | ' |
2015 | $143,327 |
2016 | 86,564 |
2017 | ' |
Thereafter | ' |
Total minimum lease payments | $229,891 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details Textual) (USD $) | 9 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Commitments and contingencies (Textual) | ' | ' |
Rental expenses | $51,308 | ' |