SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
Basis of Presentation |
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Management acknowledges its responsibility for the preparation of the accompanying consolidated financial statements which reflect all adjustments, consisting of normal recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results of its operations for the years presented. The accompanying financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). This basis differs from that used in the statutory accounts in Hong Kong, which are prepared in accordance with the accounting principles and relevant financial regulations applicable to enterprises in Hong Kong. All significant intercompany accounts and transactions have been eliminated in consolidation. All necessary adjustments have been made to present the consolidated financial statements in accordance with U.S. GAAP. The Company’s functional currency is United States Dollars (“USD”). All significant inter-company transactions and balances have been eliminated. The financial statements include all adjustments that, in the opinion of management, are necessary to make the financial statements not misleading. |
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Unaudited Financial Statements [Policy Text Block] | ' |
Unaudited Financial Statements |
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The accompanying consolidated financial statements as of September 30, 2013 and for the nine months ended September 30, 2013 and 2012 are unaudited. In the opinion of management, all necessary adjustments (which include only normal recurring adjustments) have been made to present fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. However, The Company believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the years ended December 31, 2012 and 2011 financial statements. The results of operations for the nine month period ended September 30, 2013 and 2012 are not necessarily indicative of the operating results to be expected for the full year ended December 31, 2013, or that have been achieved in the year ended December 31, 2012. |
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Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates |
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In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates. |
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Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Translation |
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The Company’s wholly owned subsidiary, Advanced Environment, is incorporated in Hong Kong. The financial position and results of operations of the subsidiary are determined using the local currency (“Hong Kong Dollar” or “HKD”) as the functional currency. |
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Translation from HKD into United States dollars (“USD” or “$”) for reporting purposes is performed by translating the results of operations denominated in foreign currency at the weighted average rates of exchange during the reporting periods. Assets and liabilities denominated in foreign currencies at the balance sheet dates are translated at the market rate of exchange in effect at that date. The registered equity capital denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. All translation adjustments resulting from the translation of the financial statements into USD are reported as a component of accumulated other comprehensive income in shareholders’ equity. |
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| | September 30, | | December 31, | |
| | 2013 | | 2012 | | 2012 | |
| | (Unaudited) | | (Unaudited) | | | |
Exchange Rate at Period End | | US$1=D | | US$1=D | | US$1=D | |
7.7575 | 7.7587 | 7.7509 |
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Average Exchange rate for the Period | | US$1=D | | US$1=D | | US$1=D | |
7.7538 | 7.7539 | 7.7567 |
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For the years ended December 31, 2012, foreign currency translation adjustments of $1, have been reported as comprehensive (loss) or income in the consolidated statements of operations and comprehensive income. For the nine months ended September 30, 2013 and 2012, foreign currency translation adjustments of $0 and $1, respectively, have been reported as comprehensive income in the consolidated statements of operations and comprehensive income. |
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Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash |
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The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At September 30, 2013 and December 31, 2012, the Company had cash of $607 and $679, respectively. |
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Earnings Per Share, Policy [Policy Text Block] | ' |
Basic and Diluted Loss per Share |
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The Company reports loss per share in accordance with FASB ASC 260 “Earnings per share”. The Company’s basic earnings per share are computed using the weighted average number of shares outstanding for the periods presented. Diluted earnings per share are computed based on the assumption that any dilutive options or warrants were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, the Company’s outstanding stock warrants are assumed to be exercised, and funds thus obtained were assumed to be used to purchase common stock at the average market price during the period. For the nine months ended September 30, 2013 and 2012, no dilutive instruments outstanding. However, if present, a separate computation of diluted loss per share would not have been presented, as these common stock equivalents would have been anti-dilutive due to the Company's net loss. |
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Fair Value Measurement, Policy [Policy Text Block] | ' |
Fair Value of Financial Instruments |
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Effective January 1, 2008, the Company adopted ASC 820, Fair Value Measurements and Disclosure (“ASC 820”) for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure about such fair value measurements. The adoption of ASC 820 did not have an impact on the Company’s financial position or operating results, but did expand certain disclosures. |
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ASC 820 defines fair value as the price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: |
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Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities |
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data |
Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. |
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The Company did not identify any assets and liabilities that are required to be presented on the condensed consolidated balance sheets at fair value in accordance with the relevant accounting standards. |
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The carrying values of accounts payables and debts approximate their fair values due to the short maturities of these instruments. |
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Segment Reporting, Policy [Policy Text Block] | ' |
Business Segments |
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The Company operates in one segment and therefore segment information is not presented. |
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