ChinAmerica Andy Movie Entertainment Media (CAME) 10-K 30 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	ChinAmerica Andy Movie Entertainment Media Co.
Entity Central Index Key	1,543,605
Trading Symbol	came
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		128,628,400
Entity Public Float			$ 74,586
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 421,522	$ 167,717
Escrow funds held by related party	355,615	837,296
Prepaid expenses	2,917	1,784
Refundable Income Tax	13,942
Loan to shareholder		325,600
Total current assets	793,996	1,332,397
Total Assets	793,996	1,332,397
Current liabilities:
Accrued expenses		2,667
Accrued income tax		135,393
Deferred Revenue	483,980	483,980
Management Fee Liabilities	130,522	169,500
Loan from shareholder	180,000
Total current liabilities	794,502	791,540
Total Liabilities	794,502	791,540
Stockholders' equity
Common Stock, $.01 par value, 5,000,000,000 shares authorized; 125,628,400 and 125,628,400 shares issued and outstanding	1,256,284	1,256,284
Additional paid-in capital	(924,900)	(924,900)
Other comprehensive income	(39,104)	(15,919)
Accumulated deficit	(292,786)	225,392
Total Stockholders' Equity	(506)	540,857
Total liabilities and stockholders' equity	$ 793,996	$ 1,332,397

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	125,628,400	125,628,400
Common stock, shares outstanding (in shares)	125,628,400	125,628,400

STATEMENTS OF OPERATIONS AND CO

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Statement
Revenue		$ 822,500
Expenses
General and administrative - related party	$ 224,260	344,598
General and administrative	416,057	51,128
Total operating expenses	640,317	395,726
Operating (Loss) Income	(640,317)	426,774
Other income (expense)
Interest income	4,227	2,986
Total other income (expense), net	4,227	2,986
Net Income Before Taxes	(636,090)	429,760
Provision (benefit) for taxes	(117,912)	135,393
Net (Loss) Income	(518,178)	294,367
Foreign currency translation	(23,185)	(15,919)
Comprehensive Income (Loss)	$ (541,363)	$ 278,448
Earnings (loss) per share - basic and dilutive	$ 0.01	$ 0
Weighted average shares	125,245,934	125,245,984

STATEMENTS OF CHANGES IN STOCKH

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Other Comprehensive Income	Total
Balance at Dec. 31, 2013	$ 1,234,384	$ (924,900)	$ (68,975)		$ 240,509
Balance (in shares) at Dec. 31, 2013	123,438,400
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock for services	$ 500				500
Stock for services (in shares)	50,000
Stock for services	$ 20,000				20,000
Stock for services (in shares)	2,000,000
Stock for services	$ 400				400
Stock for services (in shares)	40,000
Stock for services	$ 1,000				1,000
Stock for services (in shares)	100,000
Other Comprehensive Income - Foreign currency				$ (15,919)	(15,919)
Net income (loss)			294,367		294,367
Balance at Dec. 31, 2014	$ 1,256,284	(924,900)	225,392	(15,919)	$ 540,857
Balance (in shares) at Dec. 31, 2014	125,628,400				125,628,400
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income - Foreign currency				(23,185)	$ (23,185)
Net income (loss)			(518,178)		(518,178)
Balance at Dec. 31, 2015	$ 1,256,284	$ (924,900)	$ (292,786)	$ (39,104)	$ (506)
Balance (in shares) at Dec. 31, 2015	125,628,400				125,628,400

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities
Net income (loss)	$ (518,178)	$ 294,367
Changes in operating assets and liabilities:
Funds held in escrow by related party	481,681	(837,296)
Deferred revenue		483,980
Refundable Income Tax	(13,942)
Accounts payable and accrued expenses	(2,667)	1,909
Accrued Shanghai Management Fees	(38,978)
Income tax liability	(135,393)	135,393
Related party payables		169,500
Prepaid expenses	(1,133)	(1,784)
Total adjustments	289,568	(48,298)
Net cash (used in) provided by operating activities	$ (228,610)	$ 246,069
Cash flows from investing activities
Net cash (used in) provided by investing activities
Cash flows from financing activities
(Repayments to) advances from related parties	$ 180,000	$ (24,616)
Shareholder loan	325,600	(325,600)
Issuance of common stock		1,400
Net cash (used in) provided by financing activities	505,600	(348,816)
Foreign currency translation	(23,185)	(15,919)
Net increase (decrease) in cash	253,805	(118,666)
Cash at beginning of year	167,717	286,383
Cash at end of year	$ 421,522	167,717
Non-cash investing and financing activities
Loans from shareholder converted into common stock		$ 20,500

NATURE OF BUSINESS

NATURE OF BUSINESS	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	NOTE 1. NATURE OF BUSINESS Organization. ChinAmerica Andy Movie Entertainment Media Co. (the “Company,” “us,” “our,” “we”) was incorporated under the laws of the State of Florida on September 26, 2002. The Company's headquarters are located in Sarasota, Florida.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates. The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States of America. These principles require 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 revenues and expenses during the reporting period. Management believes that these estimates are reasonable and have been discussed with the Board of Directors; however, actual results could differ from those estimates. Cash and Cash Equivalents. The majority of cash is maintained with a major financial institution in Shanghai, China held on our behalf by AF Ocean Investment Management Company (Shanghai Ltd.) (“AF Ocean Shanghai”). There are also funds held in the United States. Deposits with these banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed on demand and, therefore, bear minimal risk. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Foreign Currency Translation. The Company has addressed the effect of the exchange rate differences resulting from the translation for currency transferred to the Company, for consulting services from an account held by AF Ocean Shanghai in China, by using the current day exchange rate from CNY to USD conversion. The accumulated exchange rate for the twelve month period ended December 31, 2015 was a net loss of $23,185 as compared to ($15,919) at the end of the twelve month period ended December 31, 2014. Intangible Assets. Impairment of Long-lived Assets. Revenue Recognition. Share-based Compensation. The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line attribution method. The Company may issue restricted stock for various business and administrative services. Cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (i) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached; or (ii) the date at which the counterparty’s performance is complete. There was no share-based compensation paid in the year ended December 31, 2015. Advertising. Income Taxes. Earnings per Share. Diluted income per share includes the dilutive effects of stock options, warrants, and stock equivalents. To the extent stock options, stock equivalents and warrants are anti-dilutive; they are excluded from the calculation of diluted income per share in 2015. There are no stock options, stock equivalents and warrants outstanding as of December 31, 2015. Segment Information. Recent Accounting Pronouncements.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
Going Concern [Abstract]
GOING CONCERN	NOTE 3. GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2015, current assets exceeded current liabilities by $(506). Total assets decreased from $1,332,397 at December 31, 2014 to $793,996 at December 31, 2015, and total liabilities decreased from $791,540 at December 31, 2014 to $794,502 at December 31, 2015. Our operations are being funded by the revenue received and earned during the fiscal year ended December 31, 2014. During the fiscal year ended December 31, 2015 the Company had no revenue and a net loss of ($518,178). Our Board of Directors believes that we can continue to operate as a movie, entertainment and documentary company during the next 12 months increasing revenues of the Company. However, the production may take years to complete and future cash flows, if any, are impossible to predict at this time. The realization value from any production film is largely dependent on factors beyond our control such as the market for our films and the number of qualified short films that we bring in. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4. RELATED PARTY TRANSACTIONS During the twelve month period ended December 31, 2015, the Company paid a total of $35,000 for management services provided by AF Ocean Shanghai. On December 23, 2013, the Company and AF Ocean Shanghai entered into a management agreement for the collection and maintenance of all funds received in the People's Republic of China on behalf of the Company. As of December 31, 2015, the current balance in AF Ocean Shanghai, account held on behalf of the Company is $355,615. Commencing on May 1, 2015, the Company renewed the management services agreement with AF Ocean Investment Management Company (“the Service Provider”) for an additional one year. The Company shares the same Chief Executive Officer and controlling shareholder as the Service Provider. We pay the Service Provider $20,480 per month for access to and use of office space at a location leased by the Service Provider from a third party, legal services, management and accounting related services including, without limitation, preparing periodic and other reports required to be filed under the Securities Exchange Act of 1934, preparing financial reports, bookkeeping, managing their websites, handling previous employee matters, and related governmental filings, handling advertising matters, and processing payables. (collectively, the “ Services On April 27, 2015, the $299,000 loan made to a related party on March 13, 2015 was paid back in full. On April 27, 2015, shareholder Andy Fan advanced the Company $180,000. In February 2015, the loan advanced to a related party in December, 2014 was paid back in full in the amount of $325,600.

INCOME TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAX	NOTE 5. INCOME TAX We are subject to taxation in the U.S. and various state jurisdictions. As of December 31, 2015, we are no longer subject to U.S. federal and state examinations by tax authorities for years prior to 2009. Furthermore, as of December 31, 2015, years 2009 through 2011 may be subject to additional examination by U.S. federal and state tax authorities if a substantial error is identified. However, they will not go back more than the last six years. The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes (computed by applying the United States Federal tax rate of 34% and State tax rate of 3.3% to income before taxes), as follows: For the Years Ended December 31, 2015 2014 Tax Expense (benefit) at the Statutory Rate $ (248,745 ) 159,393 Change in valuation allowance 130,833 (24,000 ) Total $ (117,912 ) 135,393 The tax effects of the temporary differences between reportable financial statement income and taxable income are recognized as deferred tax assets and liabilities. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. A valuation allowance has been applied due to the uncertainty of realization. As of December 31, 2015 and December 31, 2014, the Company has a net operating income from operations. The carry forwards expire through the year 2023. The Company’s net operating income carry forward may be subject to annual limitations, which could reduce or defer the utilization of the losses as a result of an ownership change as defined in Section 382 of the Internal Revenue Code. A valuation allowance has been applied due to the uncertainty of realization. The Company’s net deferred tax asset as of December 31, 2015 and December 31, 2014 is as follows: Summary of Net Deferred Tax Asset For the Years Ended December 31, 2015 2014 Deferred tax assets $ (130,833 ) $ - Valuation allowance (130,833 ) - Net deferred tax asset $ - $ -

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6. STOCKHOLDERS’ EQUITY Common Stock No shares were issued during the twelve month period ended December 31, 2015. As of December 31, 2015, there were 125,628,400 shares issued and outstanding. The Company has no options or warrants issued or outstanding.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7. COMMITMENTS AND CONTINGENCIES During the twelve month period ended December 31, 2015, the Company paid a total of $35,000 for management services provided by AF Ocean Shanghai. On December 23, 2013, the Company and AF Ocean Shanghai entered into a management agreement for the collection and maintenance of all funds received in the People's Republic of China on behalf of the Company. As of December 31, 2015, the current balance in AF Ocean Shanghai, account held on behalf of the Company is $355,615. Commencing May 1, 2015, the Company renewed the management services agreement On April 27, 2015, the related party loan in the amount of $299,000 was repaid in its entirety. The amounts and terms of the above transaction may not necessarily be indicative of the amounts and terms that would have been incurred had comparable transactions been entered into with independent third parties.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8. SUBSEQUENT EVENTS Management has evaluated subsequent events through March 30, 2016, the date the financial statements were available to be issued. Management is not aware of any other significant events that occurred subsequent to the balance sheet date that would have a material effect on the financial statements thereby requiring adjustment or disclosure.

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates. The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States of America. These principles require 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 revenues and expenses during the reporting period. Management believes that these estimates are reasonable and have been discussed with the Board of Directors; however, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents. The majority of cash is maintained with a major financial institution in Shanghai, China held on our behalf by AF Ocean Investment Management Company (Shanghai Ltd.) (“AF Ocean Shanghai”). There are also funds held in the United States. Deposits with these banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed on demand and, therefore, bear minimal risk. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Foreign Currency Translation	Foreign Currency Translation. The Company has addressed the effect of the exchange rate differences resulting from the translation for currency transferred to the Company, for consulting services from an account held by AF Ocean Shanghai in China, by using the current day exchange rate from CNY to USD conversion. The accumulated exchange rate for the twelve month period ended December 31, 2015 was a net loss of $23,185 as compared to ($15,919) at the end of the twelve month period ended December 31, 2014.
Intangible Assets	Intangible Assets.
Impairment of Long-lived Assets	Impairment of Long-lived Assets.
Revenue Recognition	Revenue Recognition.
Share-based Compensation	Share-based Compensation. The Company accounts for stock-based instruments issued to employees in accordance with ASC Topic 718. ASC Topic 718 requires companies to recognize in the statement of operations the grant-date fair value of stock options and other equity based compensation issued to employees. The value of the portion of an award that is ultimately expected to vest is recognized as an expense over the requisite service periods using the straight-line attribution method. The Company may issue restricted stock for various business and administrative services. Cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock is measured at the earlier of (i) the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached; or (ii) the date at which the counterparty’s performance is complete. There was no share-based compensation paid in the year ended December 31, 2015.
Advertising	Advertising.
Income Taxes	Income Taxes.
Earnings per Share	Earnings per Share. Diluted income per share includes the dilutive effects of stock options, warrants, and stock equivalents. To the extent stock options, stock equivalents and warrants are anti-dilutive; they are excluded from the calculation of diluted income per share in 2015. There are no stock options, stock equivalents and warrants outstanding as of December 31, 2015.
Segment Information	Segment Information.
Recent Accounting Pronouncements	Recent Accounting Pronouncements.

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	For the Years Ended December 31, 2015 2014 Tax Expense (benefit) at the Statutory Rate $ (248,745 ) 159,393 Change in valuation allowance 130,833 (24,000 ) Total $ (117,912 ) 135,393
Schedule of Deferred Tax Assets	Summary of Net Deferred Tax Asset For the Years Ended December 31, 2015 2014 Deferred tax assets $ (130,833 ) $ - Valuation allowance (130,833 ) - Net deferred tax asset $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals)	12 Months Ended
	Dec. 31, 2015USD ($)Segment	Dec. 31, 2014USD ($)
Accounting Policies [Abstract]
Foreign currency translation loss | $	$ (23,185)	$ (15,919)
Description of relative value from CNY To USD	from .1611 to .1541 CNY to the USD
Number of reportable segments | Segment	1

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Going Concern [Abstract]
Working capital surplus (deficit)	$ (506)
Total assets	793,996	$ 1,332,397
Total liabilities	794,502	791,540
Net loss	$ (518,178)	$ 294,367

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($)	May. 01, 2015	Apr. 27, 2015	Feb. 28, 2015	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Current balance in AF Ocean Shanghai				$ 355,615	$ 837,296
Repayment of loan to shareholder			$ 325,600	(180,000)	24,616
Loan made to related party		$ 299,000		(325,600)	$ 325,600
AF Ocean Investment Management Company (Shanghai Ltd.)
Related Party Transaction [Line Items]
Management services paid				$ 35,000
Andy Fan
Related Party Transaction [Line Items]
Advance received		$ 180,000
Management Service Agreement | AF Ocean Investment Management Company (Shanghai Ltd.)
Related Party Transaction [Line Items]
Renewal term of agreement	1 year
Management fee paid per month	$ 20,480

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Tax Expense (benefit) at the Statutory Rate	$ (248,745)	$ 159,393
Change in valuation allowance	130,833	(24,000)
Total	$ (117,912)	$ 135,393

INCOME TAX (Details 1)

INCOME TAX (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Deferred tax assets	$ (130,833)
Valuation allowance	$ (130,833)
Net deferred tax asset

INCOME TAX (Detail Textuals)

INCOME TAX (Detail Textuals)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
United States Federal tax rate	34.00%
State tax rate	3.30%

STOCKHOLDERS' EQUITY (Detail Te

STOCKHOLDERS' EQUITY (Detail Textuals) - shares	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Common stock, shares issued (in shares)	125,628,400	125,628,400
Common stock, shares outstanding (in shares)	125,628,400	125,628,400

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Textuals) - USD ($)	May. 01, 2015	Apr. 27, 2015	Dec. 31, 2015	Dec. 31, 2014
Commitments And Contingencies [Line Items]
Current balance in AF Ocean Shanghai			$ 355,615	$ 837,296
Repayments of related party debt		$ 299,000	(325,600)	$ 325,600
AF Ocean Investment Management Company (Shanghai Ltd.)
Commitments And Contingencies [Line Items]
Management services paid			$ 35,000
Management Service Agreement | AF Ocean Investment Management Company (Shanghai Ltd.)
Commitments And Contingencies [Line Items]
Renewal term of agreement	1 year
Management fee paid per month	$ 20,480