ChinAmerica Andy Movie Entertainment Media (CAME) 10-Q 18 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 16, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ChinAmerica Andy Movie Entertainment Media Co.
Entity Central Index Key	1,543,605
Trading Symbol	came
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		125,628,400
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets
Cash and Cash Equivalents	$ 387,322	$ 421,522
Escrow Funds Held By Related Party	346,886	355,615
Due From Related Party	9,119
Prepaid Expenses	1,325	2,917
Refundable Income Tax	13,942	13,942
Total Current Assets	758,594	793,996
Total Assets	758,594	793,996
Current liabilities
Accounts Payable	44,995
Deferred Revenue	483,980	483,980
Management Fee Liabilities	130,522	130,522
Shareholder loan	180,000	180,000
Total current liabilities	839,497	794,502
Total Liabilities	839,497	794,502
Stockholders' equity
Common Stock, $.01 par value, 5,000,000,000 shares authorized;125,628,400 and 125,628,400 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively.	1,256,284	1,256,284
Additional paid-in capital	(924,900)	(924,900)
Accumulated other comprehensive income	(38,824)	(39,104)
Retained Earnings	(373,463)	(292,786)
Total stockholders' equity	(80,903)	(506)
Total liabilities and stockholders' equity	$ 758,594	$ 793,996

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
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	125,628,400	125,628,400
Common stock, shares outstanding	125,628,400	125,628,400

STATEMENTS OF OPERATIONS AND CO

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue
Expenses
General and Administrative - Related Party	$ 60,480	$ 19,050
General and Administrative	20,448	11,326
Total Operating Expenses	80,928	30,376
Operating (Loss) Income	(80,928)	(30,376)
Other Income
Interest Income	251	3,092
Total Other Income	251	3,092
Net Income (Loss) Before Income Taxes	(80,677)	(27,284)
Provision (benefit) for taxes		(10,177)
Net (Loss) Income	(80,677)	(17,107)
Foreign Currency Translation	280	2,915
Net Comprehensive Income (Loss)	$ (80,397)	$ (14,192)
Earnings (Loss) Per Share - Basic and Dilutive (in dollars per share)	$ 0	$ 0
Weighted Average Shares (in shares)	125,628,400	125,628,400

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows From Operating Activities
Net Income (Loss)	$ (80,677)	$ (17,107)
Changes In Operating Assets and Liabilities:
Funds Held In Escrow By Related Party	8,729	373,223
Due From Related Party	(9,119)
Accounts Payable and Accrued Expenses	44,995	2,920
Income Tax Liability		(10,177)
Prepaid Expenses	1,592	1,188
Total Adjustments	46,197	367,154
Net Cash (Used In) Provided By Operating Activities	$ (34,480)	$ 350,047
Cash Flows From Investing Activities
Net Cash (Used In) Provided By Investing Activities
Cash Flows From Financing Activities
(Repayments To) Advances From Related Parties		$ 26,600
Net Cash (Used In) Provided By Financing Activities		26,600
Foreign Currency Gain (Loss)	$ 280	(2,915)
Net Increase (Decrease) In Cash	(34,200)	373,732
Cash At Beginning Of Year	421,522	167,717
Cash At End Of Period	$ 387,322	$ 541,449
Supplemental Disclosures Of Cash Flow Information:
Income Taxes Paid

NATURE OF BUSINESS

NATURE OF BUSINESS	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	NOTE 1. NATURE OF BUSINESS Organization. ChinAmerica Andy Movie Entertainment Media Co.(“CAME” or the “Company”) was incorporated under the laws of the State of Florida on September 26, 2002. The Company’s headquarters are located in Ellenton, Florida.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Use of Estimates. The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information regarding the Company's significant accounting policies, refer to the audited financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission on March 30, 2016. Cash and Cash Equivalents. Foreign Currency Translation. 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 quarter ended March 31, 2016. Income Taxes. 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 assessmen t. 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. Recent Accounting Pronouncements.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016, total liabilities exceed total assets by $80,903. Total assets decreased from $793,996 at December 31, 2015 to $758,594 at March 31, 2016, and total liabilities increased from $794,502 at December 31, 2015 to $839,497 at March 31, 2016. During the three month period ended March 31, 2016 the Company had revenue of $0 and a net loss of ($80,677), as compared to revenue of $0 and a net loss of ($17,107) for the three month period ended March 31, 2015. These factors raise substantial doubt about our ability to continue as a going concern for a reasonable period of time. 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	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4. RELATED PARTY TRANSACTIONS 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. All deposits received in China incur a management fee of ten percent (10%) due to AF Ocean Shanghai. During the three month period ended March 31, 2015, no payments have been received for this management service. As of March 31, 2015, the current balance in AF Ocean Shanghai, account held on behalf of the Company is $346,886. Commencing on May 1, 2015, the Company renewed the management services agreement with AF Ocean Investment Management Company (“the Service Provider”) for an additional year. The Company shares the same Chief Executive Officer and controlling shareholder as the Service Provider. We pay the Service Provider $20,000 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. Services

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 5. INCOME TAXES 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 5.5% to income before taxes). 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. We had a net loss before income taxes of $(80,677) for the three month period ended March 31, 2016.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 6. STOCKHOLDERS’ EQUITY Common Stock The total authorized capital stock of the corporation is five billion 5,000,000,000 shares. The Company is authorized to issue five billion (5,000,000,000) shares of common stock, and one class of preferred blank check to be issued solely at the discretion of the Board. No shares of capital stock have been designated as preferred stock. As of March 31, 2016 the Company had 125,628,400 shares of common stock issued and outstanding. No shares were issued during the three month period ended March 31, 2016. The Company has no options or warrants issued or outstanding.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7. COMMITMENTS AND CONTINGENCIES Related Party On December 23, 2013, the Company entered into a management agreement with AF Ocean Shanghai for the collection and maintenance of all funds received in the People's Republic of China on behalf of the Company. All deposits received in China incur a management fee of ten percent (10%) due and payable to AF Ocean Shanghai. As of March 31, 2016, the current balance in AF Ocean Shanghai’s account held on behalf of the Company is $346,886. Commencing May 1, 2015, the Company renewed the management services agreement 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. Legal Matters From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company’s financial position or results of operations. Leases and Facility The office space is rented from the Service Provider, and the Company pays a monthly management fee to them for services provided which includes the Company’s rent.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8. SUBSEQUENT EVENTS Management has evaluated subsequent events through May 16, 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 ACCOUN14

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Use of Estimates	Basis of Presentation and Use of Estimates. The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information regarding the Company's significant accounting policies, refer to the audited financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission on March 30, 2016.
Cash and Cash Equivalents	Cash and Cash Equivalents.
Foreign Currency Translation	Foreign Currency Translation.
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 quarter ended March 31, 2016.
Income Taxes	Income Taxes. 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 assessmen t.
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements.

SUMMARY OF SIGNIFICANT ACCOUN15

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Accumulated other comprehensive income (loss)	$ (38,824)	$ (39,104)
Description of relative value from CNY To USD	from .1540 on January 1, 2016 to .1547

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Going Concern [Abstract]
Working capital	$ 80,903
Total assets	758,594		$ 793,996
Total liabilities	$ 839,497		$ 794,502
Revenue
Net gain (loss)	$ (80,677)	$ (17,107)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($)	May. 01, 2015	Dec. 23, 2013	Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Current balance in AF Ocean Shanghai's account held on behalf of Company			$ 346,886	$ 355,615
AF Ocean Investment Management Company (Shanghai Ltd.) | Management Service Agreement
Related Party Transaction [Line Items]
Management fee receivable percentage		10.00%
Renewal term of agreement	1 year
Management and accounting related services per month	$ 20,000

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
United States Federal tax rate	34.00%
State tax rate	5.50%
Net loss before income taxes	$ (80,677)	$ (27,284)

STOCKHOLDERS' EQUITY (Detail Te

STOCKHOLDERS' EQUITY (Detail Textuals) - shares	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares issued	125,628,400	125,628,400
Common stock, shares outstanding	125,628,400	125,628,400

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Textuals) - USD ($)	May. 01, 2015	Dec. 23, 2013	Mar. 31, 2016	Dec. 31, 2015
Commitments And Contingencies [Line Items]
Current balance in AF Ocean Shanghai's account held on behalf of Company			$ 346,886	$ 355,615
AF Ocean Investment Management Company (Shanghai Ltd.) | Management Service Agreement
Commitments And Contingencies [Line Items]
Management fee receivable percentage		10.00%
Renewal Term Of Agreement	1 year
Management and accounting related services per month	$ 20,000