Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 25, 2016 | Jun. 30, 2015 | |
Document and Entity Information: | |||
Entity Registrant Name | MAKINGORG, INC. | ||
Entity Central Index Key | 1,569,083 | ||
Trading Symbol | cqcq | ||
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 | 35,430,000 | ||
Entity Public Float | $ 41,835,663 | ||
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 | ||
Total Assets | ||
Current Liabilities | ||
Accounts payable and accrued liabilities | $ 7,482 | $ 351 |
Due to related party | 38,309 | 17,587 |
Total Liabilities | $ 45,791 | $ 17,938 |
Stockholders' Deficit | ||
Preferred stock, par value $0.001; 50,000,000 shares authorized, zero shares issued and outstanding | ||
Common stock, par value $0.001; 150,000,000 shares authorized, 35,430,000 shares issued and outstanding | $ 35,430 | $ 35,430 |
Additional paid in capital | (11,265) | (11,265) |
Accumulated deficit | (69,956) | (42,103) |
Total Stockholders' Deficit | $ (45,791) | $ (17,938) |
Total Liabilities and Stockholders' Deficit |
BALANCE SHEETS (Parentheticals)
BALANCE SHEETS (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 35,430,000 | 35,430,000 |
Common stock, shares outstanding | 35,430,000 | 35,430,000 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | ||
REVENUES | ||
OPERATING EXPENSES | ||
Bank fees | $ 90 | |
Business licenses and permits | $ 89 | 189 |
Miscellaneous expenses | 555 | 909 |
Professional fees | 27,209 | 22,765 |
TOTAL OPERATING EXPENSES | 27,853 | 23,953 |
LOSS BEFORE INCOME TAX | $ (27,853) | $ (23,953) |
Income tax provision | ||
NET LOSS | $ (27,853) | $ (23,953) |
NET LOSS PER COMMON SHARE: BASIC AND DILUTED (in dollars per share) | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC AND DILUTED (in shares) | 35,430,000 | 35,430,000 |
STATEMENTS OF STOCKHOLDERS' DEF
STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2013 | $ 35,430 | $ (12,330) | $ (18,150) | $ 4,950 |
Balance (in shares) at Dec. 31, 2013 | 35,430,000 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Loan forgiven by previous directors | 1,065 | 1,065 | ||
Net loss | (23,953) | (23,953) | ||
Balance at Dec. 31, 2014 | $ 35,430 | (11,265) | (42,103) | $ (17,938) |
Balance (in shares) at Dec. 31, 2014 | 35,430,000 | 35,430,000 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net loss | (27,853) | $ (27,853) | ||
Balance at Dec. 31, 2015 | $ 35,430 | $ (11,265) | $ (69,956) | $ (45,791) |
Balance (in shares) at Dec. 31, 2015 | 35,430,000 | 35,430,000 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (27,853) | $ (23,953) |
Changes in assets and liabilities: | ||
Accounts payable and accrued liabilities | 7,131 | 351 |
CASH FLOWS USED IN OPERATING ACTIVITIES | (20,722) | (23,602) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Loan from related party | 20,722 | 17,587 |
Loan repayment to previous director | (1,835) | |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | $ 20,722 | 15,752 |
NET DECREASE IN CASH | (7,850) | |
Cash, beginning of period | $ 7,850 | |
Cash, end of period | ||
SUPPLEMENTAL CASH FLOW INFORMATION: | ||
Interest paid | ||
Income taxes paid | ||
NON-CASH FINANCING ACTIVITIES: | ||
Loan forgiven by previous directors | $ 1,065 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
ORGANIZATION AND NATURE OF BUSINESS | NOTE 1 – ORGANIZATION AND AND NATURE OF BUSINESS MakingORG, Inc. was incorporated under the laws of the State of Nevada on August 10, 2012. The Company now intends to open a line of organic food stores or stores-in-stores within the Asian communities in the United States. The trading symbol of the Company is "CQCQ" and the fiscal year end is December 31. |
GOING CONCERN
GOING CONCERN | 12 Months Ended |
Dec. 31, 2015 | |
Going Concern [Abstract] | |
GOING CONCERN | NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. The Company currently has a working capital deficit, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These conditions raise substantial doubt as to our ability to continue as a going concern. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern. |
SUMMARY OF SIGNIFCANT ACCOUNTIN
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES | NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. Accounting Basis The Company uses the accrual basis of accounting and has adopted a December 31 fiscal year end. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount 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 the original maturities of three months or less to be cash equivalents. The Company had zero cash as at December 31, 2015 and 2014. Revenue Recognition The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as at December 31, 2015 and 2014. Related Parties The Company follows ASC 850, "Related Party Disclosures," for the identification of related parties and disclosure of related party transactions. Recent Accounting Pronouncements The Company’s management has considered all recent accounting pronouncements. Management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
DUE TO RELATED PARTY
DUE TO RELATED PARTY | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
DUE TO RELATED PARTY | NOTE 4 – DUE TO RELATED PARTY In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note. During the year ended December 31, 2014, $1,065 due to a previous director was forgiven by the director and recorded as additional paid-in capital. During the year ended December 31, 2015, the Company's sole officer advanced to the Company an amount of $20,722 by the way of loan. As at December 31, 2015, and 2014 the Company was obligated to the officer, for an unsecured, non-interest bearing demand loan with a balance of $38,309 and $17,587, respectively. |
EQUITY
EQUITY | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
EQUITY | NOTE 5 – Preferred Stock On August 22, 2014, the Company amended and restated Articles of Incorporation and authorized 50,000,000 preferred shares with a par value of $0.001 per share. There were no preferred shares issued and outstanding as at December 31, 2015 and December 31, 2014. Common Stock The Company has 150,000,000, $0.001 par value shares of common stock authorized. On August 22, 2014, the Company amended and restated Articles of Incorporation and increased the amount of authorized shares of common stock from 75,000,000 to 150,000,000, with a par value of $0.001 per share. Effective August 22, 2014, the Company effected a 6 for 1 forward split on its common stock outstanding in the form of a dividend, under which each stockholder of record on that date received 5 additional shares of the Corporation's $0.001 par value common stock for every 1 share owned. The Company’s balance sheets, statements of operations, and all share and per shares amounts herein, were retroactively adjusted to give effect to the 6 for 1 forward split. As at December 31, 2015 and 2014, the Company has 35,430,000 shares issued and outstanding. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 6 – COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. An officer has provided office services without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 7 – INCOME TAXES The Company provides for income taxes under ASC 740, "Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. It also requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company is subject to taxation in the United States and certain state jurisdictions. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 34% to the net loss before provision for income taxes for the following reasons: For the Years Ended December 31, 2015 2014 Tax benefit at statutory rates $ 9,470 $ 8,144 Change in valuation allowance (9,470 ) (8,144 ) Net provision for income taxes $ - $ - Net deferred tax assets consist of the following components as of: December 31, 2015 2014 Deferred tax asset: Net operating loss carry forwards $ 23,785 $ 14,315 Valuation allowance (23,785 ) (14,315 ) Net deferred tax asset $ - $ - Due to the change in ownership provisions of the Income Tax laws of United States of America, net operating loss carry forwards of approximately $69,956, which expire commencing in fiscal 2032, for federal income tax reporting purposes are subject to annual limitations. When a change in ownership occurs, net operating loss carry forwards may be limited as to use in future years. |
SUMMARY OF SIGNIFCANT ACCOUNT14
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. |
Accounting Basis | Accounting Basis The Company uses the accrual basis of accounting and has adopted a December 31 fiscal year end. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company had zero cash as at December 31, 2015 and 2014. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue when products are fully delivered or services have been provided and collection is reasonably assured. |
Income Taxes | Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. |
Basic Income (Loss) Per Share | Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as at December 31, 2015 and 2014. |
Related Parties | Related Parties The Company follows ASC 850, "Related Party Disclosures," for the identification of related parties and disclosure of related party transactions. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company’s management has considered all recent accounting pronouncements. Management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of provision for income taxes | For the Years Ended December 31, 2015 2014 Tax benefit at statutory rates $ 9,470 $ 8,144 Change in valuation allowance (9,470 ) (8,144 ) Net provision for income taxes $ - $ - |
Schedule of net deferred tax assets | December 31, 2015 2014 Deferred tax asset: Net operating loss carry forwards $ 23,785 $ 14,315 Valuation allowance (23,785 ) (14,315 ) Net deferred tax asset $ - $ - |
SUMMARY OF SIGNIFCANT ACCOUNT16
SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (Detail Textuals) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Accounting Policies [Abstract] | |||
Cash and cash equivalents | $ 7,850 |
DUE TO RELATED PARTY (Detail Te
DUE TO RELATED PARTY (Detail Textuals) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transactions [Abstract] | ||
Due to related party | $ 38,309 | $ 17,587 |
Loan from related party | $ 20,722 | 17,587 |
Loan forgiven by previous directors | $ 1,065 |
EQUITY (Detail Textuals)
EQUITY (Detail Textuals) - $ / shares | 1 Months Ended | ||||
Aug. 22, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Aug. 21, 2014 | Dec. 31, 2013 | |
Equity [Line Items] | |||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | |||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred stock, shares outstanding | 0 | 0 | |||
Common stock, shares authorized | 150,000,000 | 150,000,000 | |||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |||
Common stock, shares issued | 35,430,000 | 35,430,000 | |||
Common stock, shares outstanding | 35,430,000 | 35,430,000 | |||
Preferred Stock | |||||
Equity [Line Items] | |||||
Preferred stock, shares authorized | 50,000,000 | ||||
Preferred stock, par value (in dollars per share) | $ 0.001 | ||||
Common Stock | |||||
Equity [Line Items] | |||||
Common stock, shares authorized | 150,000,000 | 75,000,000 | |||
Common stock, par value (in dollars per share) | $ 0.001 | ||||
Common stock, shares issued | 35,430,000 | 35,430,000 | 35,430,000 | ||
Description of common stock split | Effective August 22, 2014, the Company effected a 6 for 1 forward split on its common stock outstanding in the form of a dividend, under which each stockholder of record on that date received 5 additional shares of the Corporation's $0.001 par value common stock for every 1 share owned. The Company's balance sheets and statements of operations were retroactively adjusted to give effect to the 6 for 1 forward split. |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Tax benefit at statutory rates | $ 9,470 | $ 8,144 |
Change in valuation allowance | $ (9,470) | $ (8,144) |
Net provision for income taxes |
INCOME TAXES (Details 1)
INCOME TAXES (Details 1) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax asset: | ||
Net operating loss carry forwards | $ 23,785 | $ 14,315 |
Valuation allowance | $ (23,785) | $ (14,315) |
Net deferred tax asset |
INCOME TAXES (Detail Textuals)
INCOME TAXES (Detail Textuals) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Income Tax Disclosure [Abstract] | |
Statutory federal income tax rate | 34.00% |
Operating loss carry forwards | $ 69,956 |