Mullan Agritech 10-Q 13 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 13, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Mullan Agritech, Inc.
Entity Central Index Key	1,581,223
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CK0001581223
Entity Common Stock, Shares Outstanding		200,000

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Total Assets	$ 0	$ 0
CURRENT LIABILITIES
Due to related party	59,367	46,836
Total Current Liabilities	59,367	46,836
STOCKHOLDERS' DEFICIT
Common Stock - par value $0.001; authorized: 80,000,000; shares issued and outstanding: 200,000 shares by September 30, 2015 and December 31, 2014	200	200
Accumulated deficit	(59,571)	(47,040)
Accumulated other comprehensive income	4	4
Total Stockholders' Deficit	(59,367)	(46,836)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, Par value	$ 0.001	$ 0.001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	200,000	200,000
Common stock, shares outstanding	200,000	200,000

STATEMENTS OF OPERATIONS AND CO

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating expenses:
General and administrative expenses	$ 3,909	$ 9,227	$ 12,531	$ 13,952
Loss before income taxes	(3,909)	(9,227)	(12,531)	(13,952)
Income taxes	0	0	0	0
Net loss	(3,909)	(9,227)	(12,531)	(13,952)
Other comprehensive income:
Unrealized foreign currency translation adjustment	0	(1)	0	0
Comprehensive loss	$ (3,909)	$ (9,228)	$ (12,531)	$ (13,952)
Net Loss Per Common Share, Basic & Diluted	$ (0.02)	$ (0.05)	$ (0.06)	$ (0.07)
Weighted Common Shares Outstanding, Basic & Diluted	200,000	200,000	200,000	200,000

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended		56 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,909)	$ (9,227)	$ (12,531)	$ (13,952)	$ (59,571)
Changes in operating assets and liabilities:
Accounts payable and accrued payables			0	(2,000)
Total adjustments to net loss			0	(2,000)
Net cash used in operating activities			(12,531)	(15,952)	(59,571)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash flows provided by investing activities			0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Capital contribution from the sole shareholder			0	0
Proceeds from due to related party			12,531	15,952
Net cash provided by financing activities			12,531	15,952
Effect of exchange rate changes on cash			0	0
Net decrease in cash			0	0
Cash - beginning of period			0	607
Cash - end of period	$ 0	$ 607	0	607	$ 0
Cash paid for:
Interest			0	0
Income taxes			$ 0	$ 0

Organization, Business and Oper

Organization, Business and Operations	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	Note 1 – Organization, Business and Operations The consolidated financial statements include the financial statements of Mullan Agritech Inc. (a/k/a China ThermaTech, Inc.) (“Mullan”) and its subsidiaries. Mullan and its consolidated subsidiaries are collectively referred to herein as the “Company”, “we” and “us”. Mullan was incorporated in the British Virgin Island on January 31, 2011 March 31, 2011 The Company was formed to engage in any lawful corporate undertaking, including, but not limited to, selected mergers and acquisitions. It has been in the developmental stage since inception and has no operations to date. It will attempt to locate and negotiate with a business entity for the combination of that target company with us. The combination will normally take the form of a merger, stock- for-stock exchange or stock-for-assets exchange. In most instances, the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. No assurances can be given that it will be successful in locating or negotiating with any target company. Activities during the development stage include developing the business plan and raising capital. On August 9, 2013, we change our corporate from name China ThermaTech, Inc. to Mullan Agritech, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Note 2 – Summary of Significant Accounting Policies 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. The accompanying consolidated financial statements as of September 30, 2015 and for the nine months ended September 30, 2015 and 2014 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, 2014 and 2013 financial statements. The results of operations for the nine month period ended September 30, 2015 and 2014 are not necessarily indicative of the operating results to be expected for the full year ended December 31, 2015, or that have been achieved in the year ended December 31, 2014. 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. 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. 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. September 30, December 31, 2015 2014 2014 (Unaudited) (Unaudited) Exchange Rate at Period End US$1=HKD 7.7500 US$1=HKD 7.7632 US$1=HKD 7.7574 Average Exchange rate for the Period US$1=HKD 7.7528 US$1=HKD 7.7540 US$1=HKD 7.7544 For the nine months ended September 30, 2015 and 2014, the Company reported no foreign currency translation adjustments as comprehensive income in the consolidated statements of operations and comprehensive income. 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, 2015 and December 31, 2014, the Company had reported no cash. 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, 2015 and 2014, 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. 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. 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: 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. 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. The carrying values of accounts payables and debts approximate their fair values due to the short maturities of these instruments. Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management, and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions. All transactions shall be recorded at fair value of the goods or services exchanged. Property purchased from a related party is recorded at the cost to the related party and any payment to or on behalf of the related party in excess of the cost is reflected as a distribution to the related party.

Loan from Related Party

Loan from Related Party	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Note 3 – Loan from Related Party As of September 30, 2015 and December 31, 2014, the Company had a loan payable of $ 59,367 46,836

Stockholders' Deficiency

Stockholders' Deficiency	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders Equity Note Disclosure [Text Block]	Note 4 – Stockholders’ Deficiency Stock Issued for Services On January 31, 2011, the Company issued 200,000 200 0.001

Going Concern

Going Concern	9 Months Ended
	Sep. 30, 2015
Going Concern [Abstract]
Going Concern [Text Block]	Note 5 – Going Concern The Company has a net loss of $ 59,571 59,367 59,571

Summary of Significant Accoun11

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation 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.
Interim Financial Statements [Policy Text Block]	Interim Financial Statements The accompanying consolidated financial statements as of September 30, 2015 and for the nine months ended September 30, 2015 and 2014 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, 2014 and 2013 financial statements. The results of operations for the nine month period ended September 30, 2015 and 2014 are not necessarily indicative of the operating results to be expected for the full year ended December 31, 2015, or that have been achieved in the year ended December 31, 2014.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates 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.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation 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. 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. September 30, December 31, 2015 2014 2014 (Unaudited) (Unaudited) Exchange Rate at Period End US$1=HKD 7.7500 US$1=HKD 7.7632 US$1=HKD 7.7574 Average Exchange rate for the Period US$1=HKD 7.7528 US$1=HKD 7.7540 US$1=HKD 7.7544 For the nine months ended September 30, 2015 and 2014, the Company reported no foreign currency translation adjustments as comprehensive income in the consolidated statements of operations and comprehensive income.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash 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, 2015 and December 31, 2014, the Company had reported no cash.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Loss per Share 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, 2015 and 2014, 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.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments 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. 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: 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. 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. The carrying values of accounts payables and debts approximate their fair values due to the short maturities of these instruments.
Related Party [Policy Text Block]	Related Party Parties are considered to be related to the Company if the parties, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management, and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. The Company discloses all related party transactions. All transactions shall be recorded at fair value of the goods or services exchanged. Property purchased from a related party is recorded at the cost to the related party and any payment to or on behalf of the related party in excess of the cost is reflected as a distribution to the related party.

Summary of Significant Accoun12

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule Of Foreign Currency Exchange Rate Translation Adjustment [Table Text Block]	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. September 30, December 31, 2015 2014 2014 (Unaudited) (Unaudited) Exchange Rate at Period End US$1=HKD 7.7500 US$1=HKD 7.7632 US$1=HKD 7.7574 Average Exchange rate for the Period US$1=HKD 7.7528 US$1=HKD 7.7540 US$1=HKD 7.7544

Organization, Business and Op13

Organization, Business and Operations (Details Textual)	9 Months Ended
	Sep. 30, 2015
Mullan Agritech Inc [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Entity Incorporation, State Country Name	British Virgin Island
Entity Incorporation, Date of Incorporation	Jan. 31, 2011
Advanced Environmental Products Limited [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Entity Incorporation, State Country Name	Hong Kong
Entity Incorporation, Date of Incorporation	Mar. 31, 2011

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Details)	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Intercompany Foreign Currency Balance [Line Items]
Exchange Rate at Period End	7.7500	7.7574	7.7632
Average Exchange rate for the Period	7.7528	7.7544	7.7540

Loan from Related Party (Detail

Loan from Related Party (Details Textual) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument, Redemption [Line Items]
Short-term Non-bank Loans and Notes Payable	$ 59,367	$ 46,836
Lirong Wang [Member]
Debt Instrument, Redemption [Line Items]
Short-term Non-bank Loans and Notes Payable	$ 59,367	$ 46,836

Stockholders' Deficiency (Detai

Stockholders' Deficiency (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common Stock, Shares, Issued	200,000	200,000
Founders [Member]
Class of Stock [Line Items]
Common Stock, Shares, Issued	200,000
Stock Issued During Period, Value, Issued for Services	$ 200
Sale of Stock, Price Per Share	$ 0.001

Going Concern (Details Textual)

Going Concern (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		56 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Dec. 31, 2014
Schedule of Going Concern [Line Items]
Net Loss	$ 3,909	$ 9,227	$ 12,531	$ 13,952	$ 59,571
Stockholders Deficiency	$ 59,367		59,367		59,367	$ 46,836
Net Cash Used in Operations			$ 12,531	$ 15,952	$ 59,571