Jade Global (JADG) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 07, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Jade Global Holdings, Inc.
Entity Central Index Key	1,518,171
Trading Symbol	JADG
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,000,383

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and Equivalents	$ 251,187	$ 472,485
Prepaid Expenses	75,387
Total Current Assets	326,574	472,485
TOTAL ASSETS	326,574	472,485
CURRENT LIABILITIES
Accounts payable and Accrued Expense	31,193	3,609
Due to Related Party	1,135	1,135
TOTAL LIABILITIES	32,328	4,744
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY / (DEFICIT)
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding
Common stock, $0.0001 par value, 25,000,000 shares authorized, 12,000,383 and 12,000,383 shares issued and outstanding at March 31, 2018 and March 31, 2017, respectively	1,200	1,200
Additional paid in capital	1,645,479	1,645,479
Accumulated deficit	(1,352,433)	(1,178,938)
Total Stockholders' Equity	294,246	467,741
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 326,574	$ 472,485

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	12,000,383	12,000,383
Common stock, shares outstanding	12,000,383	12,000,383

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES:
Revenue
OPERATING EXPENSES
General and Administrative	159,282	101,035
Filing Fees	1,495	3,805
Transfer Agent Fees	747	3,179
Professional Fees	12,000	12,212
Total Operating Expenses	173,524	120,231
LOSS FROM OPERATIONS	(173,524)	(120,231)
Other Income / (Loss)
Interest Income	29	40
Total Other Loss	29	40
NET LOSS BEFORE PROVISION FOR INCOME TAXES	(173,495)	(120,191)
PROVISION FOR INCOME TAXES
NET LOSS	$ (173,495)	$ (120,191)
Net loss per share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding during the period - basic and diluted	12,000,383	10,393,603

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (173,495)	$ (120,191)
Changes in operating assets and liabilities:
Decrease / (Increase) in prepaid expense	(75,387)
Increase / (Decrease) in accounts payable and accrued expense	27,584	4,909
Increase / (Decrease) in due to related party		(158,751)
Net Cash Provided / (Used In) By Operating Activities	(221,298)	(274,033)
CASH FLOWS FROM INVESTING ACTIVITIES:
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash provided by Related Party		160,000
Proceeds from sale of common stock		900,000
Net Cash Provided By Financing Activities		1,060,000
NET INCREASE / (DECREASE) IN CASH	(221,298)	785,967
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	472,485	159,940
CASH AND CASH EQUIVALENTS AT END OF PERIOD	251,187	945,907
Cash paid for:
Interest Expense
Income Taxes
Non-cash investing & financing activities
Conversion of related party debt to common stock		$ 160,000

General Organization and Busine

General Organization and Business	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL ORGANIZATION AND BUSINESS	NOTE 1. GENERAL ORGANIZATION AND BUSINESS Jade Global Holdings, Inc. (formerly Media Analytics Corporation) (the “Company”) was incorporated as FanSport Inc., on March 16, 2011, to develop and provide social gaming mobile applications for fantasy sports enthusiasts. In September 3, 2013, the Company changed its name from FanSport, Inc. to Media Analytics Corporation. The Company was focused on developing or acquiring software that helps companies track their social data. On December 15, 2016, Media Analytics Corporation the majority shareholders of the Company (the “Sellers”) and certain buyers (the “Purchasers”) entered into a stock purchase agreement (the “Stock Purchase Agreement”), whereby the Purchasers purchased from the Sellers 380,000 (7,600,000 pre-split) shares of common stock, par value $0.0001 per share, of the Company (the “Shares”), representing approximately 75.99% of the issued and outstanding shares of the Company. On December 27, 2016, the Company changed its name to Jade Global Holdings, Inc. The Company intends to engage in the wholesale and retail trade of jade and jade products through retail stores and online web site. In connection therewith, Michael Johnson, the Company’s sole officer and Director, resigned from his positions and named Guoqiang Qian, Scott Silverman and Min Shi as directors, and Guoqiang Qian, Scott Silverman and Min Shi to the positions of President and CEO, Treasurer and CFO and Secretary, respectively. On July 20, 2017, Jade Global Holdings received Chinese government approval to form a new wholly-owned foreign enterprise operating subsidiary in Shanghai, P.R.China, Shanghai Jaedo Jewelry Co., Ltd. (“Jaedo”). Shanghai Jaedo Jewelry Co., Ltd. will seek opportunities to either enter into joint venture to open or to open wholly-owned jade trading clubs in the People’s Republic of China. As of March 31, 2018, Jaedo had not begun operations. In January, 2018, the Company elected to change its year end from March 31 to December 31.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation The accompanying unaudited consolidated financial statements have been prepared on the accrual basis and include Shanghai Jaedo Jewelry Co., Ltd. (“Jaedo”). All significant inter-organizational accounts have been eliminated. Accounting Basis The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America, including a summary of the Company’s significant accounting policies, have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2017, included in our Annual Report on Form 10-K for the year ended December 31, 2017. Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements, cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased. Earnings (Loss) per Share The Company adopted FASB ASC 260, Earnings per Share Income Taxes The Company adopted FASB ASC 740, Income Taxes Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short term maturity. Advertising The Company will expense advertising as incurred. Advertising expense was $0 and $0 for the three months ended March 31, 2018 and March 31, 2017, respectively. 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 the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Related Parties Related parties, which can be a corporation, individual, investor or another entity are considered to be related if the party has the ability, directly or indirectly, to control the other party or exercise significant influence over the Company in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. The Company has these relationships. Recent Authoritative Accounting Pronouncements The Company has reviewed the Accounting Standards Updates through ASU No. 2018-05 and these updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
GOING CONCERN	NOTE 3. GOING CONCERN As reflected in the accompanying unaudited consolidated financial statements, the Company has a net loss of $173,495 and net cash used in operations of $221,298 for the three months ended March 31, 2018. In addition, the Company has not had any revenues and the only prospect for positive cash flow is through the issuance of common stock or debt. If the Company does not begin to generate sufficient revenue or raise additional funds through a financing, the Company may need to incur additional liabilities with certain related parties to sustain the Company’s existence. There are currently no plans or agreements in place to provide such funding. The Company will require additional funding to finance the growth of its future operations as well as to achieve its strategic objectives. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and generate revenue. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 4. INCOME TAXES The Financial Accounting Standards Board (FASB) has issued FASB ASC 740-10. This standard requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than- not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740-10, and did not have any material unrecognized tax benefits as of March 31, 2018 and December 31, 2017, respectively. The Company files tax returns in the U.S. federal jurisdiction and the state of Florida. Our policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. During the three months ended March 31, 2018 and 2017, the Company did not recognize expense for interest or penalties related to income tax, and does not have any amounts accrued at March 31, 2018, as the Company does not believe it has taken any uncertain tax positions. Tax returns for the years ended March 31, 2015, March 31, 2016, March 31, 2017 and December 31, 2017 have been filed and remain open for examination by the taxing authorities. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit 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 basis. 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. On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as determining the transition tax, remeasuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. The Company does not have any foreign earnings and therefore, we do not anticipate the impact of a transition tax. Since the Tax Act was passed late in the fourth quarter of 2017, and ongoing guidance and accounting interpretation are expected over the next 12 months, we consider the accounting of any transition tax, deferred tax re-measurements, and other items to be incomplete due to the forthcoming guidance and our ongoing analysis of final year-end data and tax positions. We expect to complete our analysis within the measurement period in accordance with SAB 118, and no later than fiscal year end December 31, 2018. At March 31, 2018, the Company had net operating loss carryforwards of approximately $1,352,433, which may be offset against future taxable income through 2038. No tax benefit has been reported in the financial statements because the potential tax benefits of the net operating loss carryforwards of approximately $284,011 are offset by a valuation allowance of the same amount. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carryforwards for Federal income tax reporting purposes are subject to annual limitations. As a result of the change in majority ownership, net operating loss carryforwards may be limited as to future use.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
STOCKHOLDERS' EQUITY (DEFICIT)	NOTE 5. STOCKHOLDERS' EQUITY (DEFICIT) Preferred Stock There are 10,000,000 Preferred Shares at $0.0001 par value authorized with none issued and outstanding at March 31, 2018 and December 31, 2017. Common Stock There are 25,000,000 Common shares at $0.0001 par value authorized with 12,000,383 and 12,000,383 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively. On March 13, 2017, the Company sold 9,764,009 common shares at US$0.0922 per share. On March 13, 2017, our CEO converted a loan in the amount of $160,000 into 1,735,358 shares of common stock at a price of $0.0922 per share. There are 25,000,000 common shares at $0.0001 par value authorized with 12,000,383 shares issued and outstanding at March 31, 2018.

Related Party Transactions and

Related Party Transactions and Due to Related Party	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS AND DUE TO RELATED PARTY	NOTE 6. RELATED PARTY TRANSACTIONS AND DUE TO RELATED PARTY The officers and directors of the Company are involved in business activities outside of the Company and may, in the future, become involved in other business opportunities that become available. They may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts. On December 27, 2016, the Company’s CEO loaned the Company $160,000 to fund operations. The loan was due on demand and bore no interest. On March 17, 2017, the loan was converted into 1,735,358 shares of common stock at a price of $0.0922 per share. On August 7, 2017, the Company’s CEO loaned the Company $1,135 to fund operations. The loan is due on demand and bears no interest. During the three months ended March 31, 2018, $30,000 in consulting fees were paid to EverAsia Financial Group, Inc, a company beneficially owned or controlled by Scott Silverman, our Chief Financial Officer and Director. At March 31, 2018 and December 31, 2017, $0 and $0 in accounts payable were due to EverAsia Financial Group. During the three months ended March 31, 2018 and March 31, 2017, $72,000 and $40,387 in consulting fees were paid, respectively, to Forbstco International, LLC, a company beneficially owned or controlled by Min Shi, our Secretary and Director. At March 31, 2018 and December 31, 2017, $0 and $0 in accounts payable were due Forbstco International, respectively. The Company owed $1,135 and $1,135 to Related Parties at March 31, 2018 and December 31, 2017, respectively.

Concentrations of Risks

Concentrations of Risks	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF RISKS	NOTE 7. CONCENTRATIONS OF RISKS Cash Balances The Company maintains its cash in institutions insured by the Federal Deposit Insurance Corporation (FDIC). All other deposit accounts at FDIC-insured institutions were insured up to at least $250,000 per depositor until December 31, 2009. On April 1, 2010, FDIC deposit insurance for all deposit accounts, except for certain retirement accounts, returned to $250,000 per depositor. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, will remain at $250,000 per depositor. Our cash balance at March 31, 2018 and December 31, 2017 were in excess of the FDIC insurance threshold.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8. SUBSEQUENT EVENTS Management has evaluated subsequent events through the date these financial statements were issued. Based on our evaluation no events have occurred that require disclosure.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation The accompanying unaudited consolidated financial statements have been prepared on the accrual basis and include Shanghai Jaedo Jewelry Co., Ltd. (“Jaedo”). All significant inter-organizational accounts have been eliminated.
Accounting Basis	Accounting Basis The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission, or the SEC, including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America, including a summary of the Company’s significant accounting policies, have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive consolidated financial statements and should be read in conjunction with our audited consolidated financial statements for the year ended December 31, 2017, included in our Annual Report on Form 10-K for the year ended December 31, 2017.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are reported in the balance sheet at cost, which approximates fair value. For the purpose of the financial statements, cash equivalents include all highly liquid investments with an original maturity of three months or less when purchased.
Earnings (Loss) per Share	Earnings (Loss) per Share The Company adopted FASB ASC 260, Earnings per Share
Income Taxes	Income Taxes The Company adopted FASB ASC 740, Income Taxes
Fair Value of Financial Investments	Fair Value of Financial Investments The fair value of cash and cash equivalents, accounts payable, accrued liabilities, and notes payable approximates the carrying amount of these financial instruments due to their short term maturity.
Advertising	Advertising The Company will expense advertising as incurred. Advertising expense was $0 and $0 for the three months ended March 31, 2018 and March 31, 2017, respectively.
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 the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Related Parties	Related Parties Related parties, which can be a corporation, individual, investor or another entity are considered to be related if the party has the ability, directly or indirectly, to control the other party or exercise significant influence over the Company in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence. The Company has these relationships.
Recent Authoritative Accounting Pronouncements	Recent Authoritative Accounting Pronouncements The Company has reviewed the Accounting Standards Updates through ASU No. 2018-05 and these updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

General Organization and Busi15

General Organization and Business (Details) - $ / shares	Dec. 15, 2016	Mar. 31, 2018	Dec. 31, 2017
General Organization and Business (Textual)
Common stock, par value		$ 0.0001	$ 0.0001
Stock Purchase Agreement [Member]
General Organization and Business (Textual)
Purchase of shares	380,000
purchase split of shares	7,600,000
Common stock, par value	$ 0.0001
Percentage of issued and outstanding shares	75.99%

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Details) - USD ($)	Dec. 27, 2016	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Summary of Significant Accounting Policies (Textual)
Common stock, shares issued		12,000,383		12,000,383
Common stock, shares outstanding		12,000,383		12,000,383
Advertising expense		$ 0	$ 0
Common Stock [Member]
Summary of Significant Accounting Policies (Textual)
Reverse stock split, description	Each twenty (20) shares of our Common Stock were converted automatically into one (1) share of Common Stock.

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Going Concern (Textual)
Net loss	$ (173,495)	$ (120,191)
Net cash used in operations	$ (221,298)	$ (274,033)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Income Taxes (Textual)
Net operating loss carryforwards	$ 1,352,433
Operating loss carryforwards, expiration date	Mar. 31, 2038
Operating loss carryforwards valuation allowance	$ 284,011
Corporate income tax rate	21.00%

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Details) - USD ($)	Mar. 13, 2017	Mar. 31, 2018	Dec. 31, 2017
Stockholders' Equity (Deficit) (Textual)
Preferred stock, shares authorized		10,000,000	10,000,000
Preferred stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Common stock, shares authorized		25,000,000	25,000,000
Common stock, par value		$ 0.0001	$ 0.0001
Common stock, shares issued		12,000,383	12,000,383
Common stock, shares outstanding		12,000,383	12,000,383
Common shares sold price per share	$ 0.0922
Common shares sold	9,764,009
CEO [Member]
Stockholders' Equity (Deficit) (Textual)
Common shares sold price per share	$ 0.0922
Converted loan amount	$ 160,000
Converted shares of common stock	1,735,358

Related Party Transactions an20

Related Party Transactions and Due to Related Party (Details) - USD ($)	Aug. 07, 2017	Dec. 27, 2016	Mar. 17, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transactions and Due to Related Party (Textual)
Capital contribution					$ 160,000
Payments for loans	$ 1,135
Company owed to related parties				1,135		$ 1,135
CEO [Member]
Related Party Transactions and Due to Related Party (Textual)
Payments for loans		$ 160,000
Conversion of shares into common stock			1,735,358
Common stock price per share			$ 0.0922
Forbstco International LLC [Member]
Related Party Transactions and Due to Related Party (Textual)
Consulting fees				72,000	$ 40,387
Accounts payable				0		0
Everasia Financial Group Inc [Member]
Related Party Transactions and Due to Related Party (Textual)
Consulting fees				30,000
Accounts payable				$ 0		$ 0

Concentrations of Risks (Detail

Concentrations of Risks (Details) - USD ($)	Mar. 31, 2018	Apr. 01, 2010
Concentrations of Risks (Textual)
FDIC insured amount	$ 250,000	$ 250,000