Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Aug. 31, 2013 | Oct. 10, 2013 | |
Document And Entity Information | ||
Entity Registrant Name | Jiu Feng Investment Hong Kong Ltd | |
Entity Central Index Key | 1517389 | |
Document Type | 10-Q | |
Document Period End Date | 31-Aug-13 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -26 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,500,000 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2014 |
Balance_Sheets_Unaudited
Balance Sheets (Unaudited) (USD $) | Aug. 31, 2013 | Feb. 28, 2013 |
Current Assets: | ||
Cash | $4,986 | $5,000 |
Total current assets | 4,986 | 5,000 |
Total Assets | 4,986 | 5,000 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 1,461 | 1,461 |
Accounts payable - related party | 65,623 | 22,372 |
Total current liabilities | 66,724 | 23,833 |
Total Liabilities | 66,724 | 23,833 |
Stockholders' Equity (Deficit): | ||
Common stock, par value $0.001 per share, 75,000,000 shares authorized; 4,990,000 shares issued and outstanding | 6,500 | 6,500 |
Additional paid-in capital | 300,486 | 300,486 |
Accumulated deficit | -368,724 | -325,819 |
Total stockholders' equity (deficit) | -61,738 | -18,833 |
Total Liabilities and Stockholder's Equity (Deficit) | $4,986 | $5,000 |
Balance_Sheets_Parenthetical
Balance Sheets (Parenthetical) (USD $) | Aug. 31, 2013 | Feb. 28, 2013 |
Stockholders' Equity (Deficit): | ||
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, issued | 4,990,000 | 4,990,000 |
Common stock, outstanding | 4,990,000 | 4,990,000 |
Statements_of_Operations_Unaud
Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2013 | Aug. 31, 2012 | |
Statements Of Operations | ||||
Revenues, net | $40,502 | $94,549 | ||
Cost of Revenues | 13,689 | 25,965 | ||
Gross Profit | 26,813 | 68,584 | ||
Operating Expenses: | ||||
Payroll expenses | 21,041 | 69,703 | ||
Professional fees | 11,333 | 15,123 | 18,402 | 33,441 |
Officer compensation | 6,000 | 12,000 | ||
Consulting | 20,700 | 6,000 | 20,700 | 12,000 |
Other | 2,731 | 12,170 | 3,803 | 16,224 |
Depreciation | 176 | 352 | ||
Rent | 527 | 867 | ||
Total operating expenses | 34,764 | 61,037 | 42,905 | 144,587 |
Operating income loss | -34,764 | -34,224 | -42,905 | -76,003 |
Other (Income) Expense | ||||
Foreign currency transaction loss | 527 | 1,787 | ||
Total Other (Income) Expense | 527 | 1,787 | ||
Provision (Benefit) for Income Taxes | ||||
Net Income (Loss) | ($34,764) | ($34,751) | ($42,905) | ($77,790) |
Net Income (Loss) Per Common Share: | ||||
Net income (loss) per common share - Basic and Diluted | ($0.01) | ($0.01) | ($0.01) | ($0.02) |
Weighted average number of common shares outstanding | 4,990,000 | 4,990,000 | 4,990,000 | 4,990,000 |
Statements_of_Cash_Flows_Unaud
Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
Aug. 31, 2013 | Aug. 31, 2012 | |
Cash Flows from Operating Activities: | ||
Net Income (Loss) | ($42,905) | ($77,790) |
Adjustments to reconcile net (loss) to net cash (used in) operating activities: | ||
Depreciation | 352 | |
Changes in Current Assets and Liabilities- | ||
Accounts receivable | 2,218 | |
Prepaid expenses | 1,624 | |
Income tax receivable | ||
Accounts payable and accrued liabilities | 15,279 | |
Accounts payable - related party | 42,891 | 24,000 |
Payroll taxes payable | -2,041 | |
Income taxes payable | -1,524 | |
Net Cash Provided by (Used in )Operating Activities | -14 | -37,882 |
Cash Flows from Investing Activities: | ||
Net Cash Used in Investing Activities | ||
Cash Flows from Financing Activities: | ||
Proceeds from issuance of common stock | ||
Net Cash Provided by Financing Activities | ||
Net Increase (Decrease) In Cash | -14 | -37,882 |
Cash - Beginning of Period | 5,000 | 49,081 |
Cash - End of Period | 4,986 | 11,199 |
Supplemental Disclosure of Cash Flow Information: | ||
Cash paid during the period for: Interest | ||
Cash paid during the period for: Income taxes | $1,584 |
ORGANIZATION_OPERATIONS_AND_SU
ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Aug. 31, 2013 | |
Organization Operations And Summary Of Significant Accounting Policies | |
ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | Jiu Feng Investment Hong Kong Ltd. (the “Company”), was incorporated under the laws of the State of Nevada on September 29, 2009. The Company’s business purpose is to provide web development and marketing services for clients in the United States and international markets. |
Basis of Presentation | |
The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of operations for a full year. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Cash and cash equivalents | |
The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents. | |
Accounts receivable | |
The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary. | |
Property and equipment | |
Property and equipment are recorded at cost and depreciated under accelerated or straight line methods over each item's estimated useful life. | |
Revenue recognition | |
Revenue is recognized on an accrual basis as earned under contract terms. | |
Income tax | |
The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. | |
Net income (loss) per share | |
The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share. | |
Financial Instruments | |
The carrying value of the Company’s financial instruments, as reported in the accompanying balance sheets, approximates fair value. | |
Long-Lived Assets | |
In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value. |
ORGANIZATION_OPERATIONS_AND_SU1
ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Aug. 31, 2013 | |
Organization Operations And Summary Of Significant Accounting Policies Policies | |
Basis of Presentation | The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. All adjustments which are, in the opinion of management, necessary for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. The results of operations for such interim periods are not necessarily indicative of operations for a full year. |
Use of Estimates | The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and cash equivalents | The Company considers all highly liquid investments with an original maturity of three months or less as cash equivalents. |
Accounts receivable | The Company reviews accounts receivable periodically for collectability and establishes an allowance for doubtful accounts and records bad debt expense when deemed necessary. |
Property and equipment | Property and equipment are recorded at cost and depreciated under accelerated or straight line methods over each item's estimated useful life. |
Revenue recognition | Revenue is recognized on an accrual basis as earned under contract terms. |
Income tax | The Company accounts for income taxes pursuant to ASC 740. Under ASC 740 deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
Net income (loss) per share | The net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of shares of common outstanding. Warrants, stock options, and common stock issuable upon the conversion of the Company's preferred stock (if any), are not included in the computation if the effect would be anti-dilutive and would increase the earnings or decrease loss per share. |
Financial Instruments | The carrying value of the Company’s financial instruments, as reported in the accompanying balance sheets, approximates fair value. |
Long-Lived Assets | In accordance with ASC 350, the Company regularly reviews the carrying value of intangible and other long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. If impairment testing indicates a lack of recoverability, an impairment loss is recognized by the Company if the carrying amount of a long-lived asset exceeds its fair value. |