Yinghong Guangda Technology (UBLI) 10-Q 15 Aug 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2018	Aug. 13, 2018
Document And Entity Information
Entity Registrant Name	Yinghong Guangda Technology Ltd
Entity Central Index Key	1,576,778
Current Fiscal Year End Date	--09-30
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		41,998,104
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

INTERIM CONDENSED BALANCE SHEET

INTERIM CONDENSED BALANCE SHEETS - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Current Assets
Cash
Total Assets
Current Liabilities
Accounts payable and accrued liabilities	1,014	7,635
Due to a related party (Note 5)	19,708
Total Liabilities	20,722	7,635
STOCKHOLDERS' DEFICIT
Preferred stock, $0.01 par value, 10,000,000 shares authorized - issued and outstanding - 10,000,000 (Note 4)	100,000
Common Stock, $0.01 par value, 200,000,000 shares authorized - issued and outstanding - 41,998,104, (September 30, 2017 - 37,823,104)	419,981	378,231
Additional paid-in capital	2,620,184	2,752,633
Accumulated deficit	(3,160,887)	(3,138,499)
Total Stockholders' Deficit	(20,722)	(7,635)
Total Liabilities and Stockholders' Deficit

INTERIM CONDENSED BALANCE SHEE3

INTERIM CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Sep. 30, 2017
STOCKHOLDERS' DEFICIT
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	10,000,000	10,000,000
Preferred stock, shares outstanding	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	41,998,104	37,823,104
Common stock, shares outstanding	41,998,104	37,823,104

INTERIM CONDENSED STATEMENTS OF

INTERIM CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
OPERATING EXPENSES
Professional fees	$ 16,485		$ 18,151
Filing fees	4,237		4,237
Total Operating Expenses	20,722		22,388
Net Loss	$ 20,722		$ (22,388)
Weighted average shares outstanding Weighted average shares outstanding - basic and diluted - common stock	41,998,104	37,823,104	40,086,474	37,823,104
Net loss per share - basic and fully diluted - common stock

INTERIM CONDENSED STATEMENTS O5

INTERIM CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows From Operating Activities
Net loss	$ (22,388)
Changes in operating assets and liabilities
Accounts payable	2,680
Due to a related company	19,708
Cash Used In Operating Activities
Change in Cash and Cash Equivalents
Cash and Cash Equivalents - Beginning of period
Cash and Cash Equivalents -End of period
Non-cash transactions
Shares issued for debt settlement	$ 9,301

INTERIM CONDENSED STATEMENT OF

INTERIM CONDENSED STATEMENT OF STOCKHOLDERS' DEFICIT (Unaudited) - 9 months ended Jun. 30, 2018 - USD ($)	COMMON STOCK	CLASS A PREFERRED SHARE	PAID-IN CAPITAL	ACCUMULATED DEFICIT	Total
Beginning Balance, Shares at Sep. 30, 2017	37,823,104
Beginning Balance, Amount at Sep. 30, 2017	$ 378,231		$ 2,752,633	$ (3,138,499)	$ (7,635)
Shares issued for debt (Note 4), Shares	4,175,000
Shares issued for debt (Note 4), Amount	$ 41,750		(34,115)		7,635
Shares issued for debt (Note 4), Shares		10,000,000
Shares issued for debt (Note 4), Amount		$ 100,000	(98,334)		1,666
Net loss				(22,388)	(22,388)
Ending Balance, Shares at Jun. 30, 2018	41,998,104	10,000,000
Ending Balance, Amount at Jun. 30, 2018	$ 419,981	$ 100,000	$ 2,620,184	$ (3,160,887)	$ (20,722)

Nature of Operations and Change

Nature of Operations and Change of Control	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 1 - Nature of Operations and Change of Control	Yinghong Guangda Technology Limited, formerly UBL Interactive, Inc. (the “Company”) was incorporated under the laws of the State of Delaware on September 30, 2009. The Company provided public identity services to businesses by managing their online profile information and distributing this information uniformly to search engines, directory publishers, social networks and mobile services until the discontinuance of operations in July 2015. Effective May 24, 2018, the Company changed its name from UBL Interactive, Inc. to Yinghong Guangda Technology Limited. The change in name followed the May 2, 2018 closing of the transactions contemplated by that certain Stock Purchase Agreement (the “Agreement”) by and between William R. Alessi, Jr., the Company’s then majority stockholder (the “Seller”) and Hero Grand Everbright International Limited (the “Purchaser”). Pursuant to the Agreement, the Seller sold to the Purchaser (i) 4,175,000 shares of common stock, par value $0.01 per share (the “Common Stock”) of the Company and (ii) 10,000,000 Class A Preferred Shares, par value $0.01 per share, each convertible to 1,000 shares of Common Stock (the “Preferred Shares”), subject to certain adjustments, in consideration for $375,000 in cash from corporate funds of the Purchaser (the “Transaction”). Following consummation of the Transaction, the Purchaser holds 99.6% of the voting securities of the Company. The Transaction has resulted in a change in control of the Company from the Seller to the Purchaser. Following the Transaction, the Company remains a “shell” company with no business operations.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 2 - Basis of Presentation	The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and are presented in U.S dollars. Accordingly, they do not include all of the information and footnotes required under U.S GAAP for complete financial statements. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2017. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation, have been made. Operating results for the nine months ended June 30, 2018 are not necessary indicative of its results for a full year. Going Concern Assumptions These unaudited interim condensed financial statements have been prepared on a going concern basis which contemplates that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. If the going concern assumptions were not appropriate for these financial statements then adjustments would be necessary in the carrying value of assets and liabilities, the reported revenue and expenses and the statement to financial position classifications. As of June 30, 2018, the Company had an accumulated deficit of $3,160,887 since inception. As of June 30, 2018, the Company does not have any cash balance and is in the process of pursuing business opportunities. The continuation of the Company as a going concern is dependent upon its ability to raise additional financing and identify a suitable business and ultimately attain and maintain profitable operations. There can be no assurance that such financing and profitability will occur in the amounts and with terms expected. In the event that cash flow from operations, if any, together with the proceeds of any future financings, are insufficient to meet the Company’s current operating needs, the Company will be required to re-evaluate its planned expenditures and allocate its total resources in such a manner as the Board of Directors and management deem to be in the Company’s best interest. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These condensed financial statements do not give effect to adjustments to the carrying value and classifications of assets and liabilities and related expenses that would be necessary should the Company be unable to continue as a going concern. Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions 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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements are limited to management assessment of the Company’s ability to continue as a going concern as discussed above.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 3 - Recently Issued Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. In February 2016, the FASB issued guidance in the form of a FASB ASU No. 2016-12, “Leases.” The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain optional practical expedients available. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company currently does not have any outstanding lease agreement.

Debt Settlements

Debt Settlements	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 4 - Debt Settlements	In February 2018, the Company issued 4,175,000 shares of Common Stock to William Alessi, a former director and officer of the Company, to settle a debt owed to him in the amount of $7,635. In April 2018, the Company issued 10,000,000 shares of Class A Preferred Shares to William Alessi to settle a debt owed to him in the amount of $1,666. Each Class A Preferred Shares entitles its holder to convert each such share into 1,000 shares of Common Stock at no additional cost.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Note 5 - Related Party Transactions	Due to related party in the amount of $19,708, as of June 30, 2018, represents the operating expenses paid by an officer who is also the director of the Company on behalf of the Company. The balance due to this related party is unsecured, non-interest bearing and has no stated repayment date.

Significant and Critical Accoun

Significant and Critical Accounting Policies and Practices Policy (Policies)	9 Months Ended
	Jun. 30, 2018
Significant And Critical Accounting Policies And Practices Policy
Basis of Presentation	The accompanying unaudited interim condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and are presented in U.S dollars. Accordingly, they do not include all of the information and footnotes required under U.S GAAP for complete financial statements. These unaudited interim condensed financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for fiscal year 2017. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation, have been made. Operating results for the nine months ended June 30, 2018 are not necessary indicative of its results for a full year.
Going Concern Assumptions	These unaudited interim condensed financial statements have been prepared on a going concern basis which contemplates that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. If the going concern assumptions were not appropriate for these financial statements then adjustments would be necessary in the carrying value of assets and liabilities, the reported revenue and expenses and the statement to financial position classifications. As of June 30, 2018, the Company had an accumulated deficit of $3,160,887 since inception. As of June 30, 2018, the Company does not have any cash balance and is in the process of pursuing business opportunities. The continuation of the Company as a going concern is dependent upon its ability to raise additional financing and identify a suitable business and ultimately attain and maintain profitable operations. There can be no assurance that such financing and profitability will occur in the amounts and with terms expected. In the event that cash flow from operations, if any, together with the proceeds of any future financings, are insufficient to meet the Company’s current operating needs, the Company will be required to re-evaluate its planned expenditures and allocate its total resources in such a manner as the Board of Directors and management deem to be in the Company’s best interest. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These condensed financial statements do not give effect to adjustments to the carrying value and classifications of assets and liabilities and related expenses that would be necessary should the Company be unable to continue as a going concern.
Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions	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 dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company’s critical accounting estimates and assumptions affecting the financial statements are limited to management assessment of the Company’s ability to continue as a going concern as discussed above.
Recently Issued Accounting Pronouncements	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. In February 2016, the FASB issued guidance in the form of a FASB ASU No. 2016-12, “Leases.” The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain optional practical expedients available. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company currently does not have any outstanding lease agreement.

Nature of Operations and Chan13

Nature of Operations and Change of Control (Details Narrative) - USD ($)	May 02, 2018	Jun. 30, 2018	Apr. 30, 2018	Sep. 30, 2017
State of Incorporation		Delaware
Date of Incorporation		Sep. 30, 2009
Common stock, shares issued	4,175,000	41,998,104		37,823,104
Common stock, par value	$ 0.01	$ 0.01		$ 0.01
Preferred stock, shares issued		10,000,000		10,000,000
Preferred stock, par value		$ 0.01		$ 0.01
Preferred stock Conversion into common shares	1,000
Cash consideration	$ 375,000
Percentages of voting rate	99.60%
Class A Preferred Shares [Member]
Preferred stock, shares issued	10,000,000
Preferred stock, par value	$ 0.01
Preferred stock Conversion into common shares			1,000

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Basis Of Presentation
Accumulated deficit	$ (3,160,887)	$ (3,138,499)

Debt Settlements (Details Narra

Debt Settlements (Details Narrative) - USD ($)	1 Months Ended		9 Months Ended
	Apr. 30, 2018	Feb. 28, 2018	Jun. 30, 2018	May 02, 2018
Shares issued for debt (Note 4), Amount			$ 7,635
Preferred stock Conversion into common shares				1,000
Class A Preferred Shares [Member]
Shares issued for debt (Note 4), Shares	10,000,000
Shares issued for debt (Note 4), Amount	$ 1,666
Preferred stock Conversion into common shares	1,000
Former Director [Member] | Officer [Member]
Shares issued for debt (Note 4), Shares		4,175,000
Shares issued for debt (Note 4), Amount		$ 7,635

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Jun. 30, 2018	Sep. 30, 2017
Related Party Transactions
Due to a related party	$ 19,708