ChinAmerica Andy Movie Entertainment Media (CAME) 10-Q 16 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 14, 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	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current Assets
Cash and Cash Equivalents	$ 261,647	$ 421,522
Escrow Funds Held By Related Party	317,674	355,615
Prepaid Expenses	1,198	2,917
Refundable Income Tax	13,942	13,942
Total Current Assets	594,461	793,996
Total Assets	594,461	793,996
Current liabilities
Accounts Payable
Deferred Revenue	483,980	483,980
Management Fee Liabilities	130,522	130,522
Shareholder loan	180,000	180,000
Total current liabilities	794,502	794,502
Total Liabilities	794,502	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 June 30, 2016 and December 31, 2015, respectively.	1,256,284	1,256,284
Additional paid-in capital	(924,900)	(924,900)
Accumulated other comprehensive income (loss)	(47,461)	(39,104)
Accumulated Deficit	(483,964)	(292,786)
Total stockholders' equity	(200,041)	(506)
Total liabilities and stockholders' equity	$ 594,461	$ 793,996

BALANCE SHEETS (Parentheticals)

BALANCE SHEETS (Parentheticals) - $ / shares	Jun. 30, 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue from Operations
Expenses
General and Administrative - Related Party	89,693	47,330	150,173	66,380
General and Administrative - Officer Salary		150,000		150,000
General and Administrative Expenses	20,810	23,679	41,258	35,005
Total Operating Expenses	110,503	221,009	191,431	251,385
Operating (Loss) Income	(110,503)	(221,009)	(191,431)	(251,385)
Other Income (Expense)
Interest Income	2	438	253	3,530
Total Other Income (Expense), net	2	438	253	3,530
Net Income (Loss) Before Income Tax	(110,501)	(220,571)	(191,178)	(247,855)
Provision For / (Benefit From) Income Taxes		(34,274)		(44,451)
Net Income (Loss)	(110,501)	(186,297)	(191,178)	(203,404)
Foreign Currency Gain (Loss)	8,637	(1,338)	(8,357)	(4,253)
Comprehensive Income (Loss)	$ (101,864)	$ (187,635)	$ (199,535)	$ (207,657)
Earnings (Loss) per share - Basic and Dilutive: (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding; Basic and Diluted (in shares)	125,628,400	125,628,400	125,628,400	125,628,400

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows From Operating Activities
Net Income (Loss)	$ (191,178)	$ (203,404)
Changes In Operating Assets and Liabilities:
Funds Held In Escrow By Related Party	37,941	397,177
Accounts Payable and Accrued Expenses		159,429
Accrued Income Tax Liability		(67,503)
Prepaid Expenses	1,719	(26,385)
Total Adjustments	39,660	462,718
Net Cash (Used In) Provided By Operating Activities	(151,518)	259,314
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
Net Cash (Used In) Provided By Financing Activities		180,000
Foreign Currency Gain (Loss)	(8,357)	(4,253)
Net Increase (Decrease) In Cash	(159,875)	435,061
Cash At Beginning Of Year	421,522	167,717
Cash At End Of Period	$ 261,647	602,778
Supplemental Disclosures Of Cash Flow Information:
Income Taxes Paid		$ 23,052

NATURE OF BUSINESS

NATURE OF BUSINESS	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 accounts for non-employee share-based awards in accordance with the measurement and recognition provisions ASC Topic 505-50. The Company estimates the fair value of stock options at the grant date by using the Black-Scholes option-pricing model. 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 June 30, 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 assessment. 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	6 Months Ended
	Jun. 30, 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 June 30, 2016, total liabilities exceed total assets by $200,041. Total assets decreased from $793,996 at December 31, 2015 to $594,461 at June 30, 2016, and total liabilities increased from $794,502 at December 31, 2015 to $794,502 at June 30, 2016. During the six month period ended June 30, 2016 the Company had revenue of $0 and a net loss of ($191,178), as compared to revenue of $0 and a net loss of ($203,404) for the six month period ended June 30, 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	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 4. RELATED PARTY TRANSACTIONS We are negotiating new terms to the existing management agreement dated December 23, 2013 when the Company retained AF Ocean Shanghai for the collection and management of all funds received in the People's Republic of China on behalf of the Company. During the six month period ended June 30, 2016, payments totaling $52,745 were made for this management service. As of June 30, 2016, the current balance in AF Ocean Shanghai, account held on behalf of the Company is $317,674. 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. (collectively, the "Services"). This amount also includes legal reviews of all SEC filings and rent for the Company's office space. The Company has an outstanding management fee liabilities of $130,522 due AF Ocean Investment Management Company.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 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 $(191,178) for the six month period ended June 30, 2016.

DEFERRED REVENUE

DEFERRED REVENUE	6 Months Ended
	Jun. 30, 2016
Deferred Revenue Disclosure [Abstract]
DEFERRED REVENUE	NOTE 6. DEFERRED REVENUE The Company has received funds in the amount of approximately $480,000 to provide services. As of the six month period ended June 30, 2016 no services have been performed on this contracted amount, but the Company intends to complete the contract in 2017.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE 7. 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 June 30, 2016 the Company had 125,628,400 shares of common stock issued and outstanding. No shares were issued during the six month period ended June 30, 2016. The Company has no options or warrants issued or outstanding.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8. COMMITMENTS AND CONTINGENCIES Related Party We are negotiating new terms to the existing management agreement dated December 23, 2013 when the Company retained AF Ocean Shanghai for the collection and management of all funds received in the People’s Republic of China on behalf of the Company. As of June 30, 2016, the current balance in the account held on behalf of the Company is $317,674 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	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9. SUBSEQUENT EVENTS Management has evaluated subsequent events through August 12, 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)	6 Months Ended
	Jun. 30, 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 accounts for non-employee share-based awards in accordance with the measurement and recognition provisions ASC Topic 505-50. The Company estimates the fair value of stock options at the grant date by using the Black-Scholes option-pricing model. 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 June 30, 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 ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals)	6 Months Ended
	Jun. 30, 2016USD ($)
Accounting Policies [Abstract]
Foreign currency translation loss	$ (8,357)
Description of relative value from CNY To USD	from .1530 on January 1, 2016 to .1505

GOING CONCERN (Detail Textuals)

GOING CONCERN (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Going Concern [Abstract]
Working capital	$ 200,041		$ 200,041
Total assets	594,461		594,461		$ 793,996
Total liabilities	794,502		794,502		$ 794,502
Revenue from Operations
Net gain (loss)	$ (110,501)	$ (186,297)	$ (191,178)	$ (203,404)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals) - USD ($)	May 01, 2015	Jun. 30, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Current balance in AF Ocean Shanghai's account held on behalf of Company		$ 317,674	$ 355,615
Management Fee Liabilities		130,522	$ 130,522
AF Ocean Investment Management Company (Shanghai Ltd.) | Management Service Agreement
Related Party Transaction [Line Items]
Renewal term of agreement	1 year
Management and accounting related services per month	$ 20,000	52,745
Management Fee Liabilities		$ 130,522

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
United States Federal tax rate			34.00%
State tax rate			5.50%
Net loss before income taxes	$ (110,501)	$ (220,571)	$ (191,178)	$ (247,855)

DEFERRED REVENUE (Detail textua

DEFERRED REVENUE (Detail textuals)	3 Months Ended
	Jun. 30, 2016USD ($)
Deferred Revenue Disclosure [Abstract]
Funds received to provide services	$ 480,000

STOCKHOLDERS' EQUITY (Detail Te

STOCKHOLDERS' EQUITY (Detail Textuals) - shares	Jun. 30, 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	Jun. 30, 2016	Dec. 31, 2015
Commitments And Contingencies [Line Items]
Current balance in AF Ocean Shanghai's account held on behalf of Company		$ 317,674	$ 355,615
AF Ocean Investment Management Company (Shanghai Ltd.) | Management Service Agreement
Commitments And Contingencies [Line Items]
Renewal term of agreement	1 year
Management and accounting related services per month	$ 20,000	$ 52,745