Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 13, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | CAT9 Group Inc. | |
Entity Central Index Key | 1,632,275 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
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 | 102,166,400 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,018 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash | $ 3,814 | $ 168,539 |
Accounts receivable | 11,873 | 13,910 |
Other receivables, related party | 41,759 | 20,224 |
Inventory | 12,053 | 2,606 |
Other current assets | 16,928 | |
Advances to suppliers | 13,008 | 63,698 |
Total current assets | 82,507 | 285,905 |
Property & equipment | 48,903 | 52,178 |
Total assets | 131,410 | 338,083 |
Current liabilities: | ||
Accounts payable and accruals | 60,093 | 57,594 |
Customer deposits | 28,427 | 50,310 |
Other payables | 75,545 | 76,844 |
Other payables, related party | 239,350 | 150,927 |
Total current liabilities | 403,415 | 335,675 |
Total liabilities | 403,415 | 335,675 |
Shareholders' Equity (Deficit) | ||
Preferred stock $0.0001 par value, 5,000,000 shares authorized; none issued and outstanding | ||
Common stock $0.0001 par value, 500,000,000 shares authorized; 102,166,400 and 101,000,000 shares issued and outstanding, respectively | 10,217 | 10,100 |
Additional paid-in capital | 505,252 | 404,378 |
Accumulated other comprehensive income | (17,778) | (9,705) |
Accumulated deficit | (769,696) | (402,365) |
Total Stockholders' Equity (Deficit) | (272,005) | 2,408 |
Total liabilities and stockholders' equity | $ 131,410 | $ 338,083 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 102,166,400 | 101,000,000 |
Common stock, shares outstanding | 102,166,400 | 101,000,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenue | $ 8,318 | $ 5,694 | $ 28,427 | $ 94,174 |
Cost of revenue | 4,490 | 14,553 | 14,185 | 44,210 |
Gross Margin | 3,828 | (8,859) | 14,242 | 49,964 |
Operating Expenses: | ||||
Professional Fees | 16,201 | 56,634 | ||
Consulting | 24,713 | 42,023 | ||
General and administrative expenses | 95,114 | 80,353 | 285,540 | 141,630 |
Bad debt provision | (183,219) | (183,219) | ||
Total operating expenses | 136,028 | (102,866) | 384,197 | (41,589) |
Income (loss) from operations | (132,200) | 94,007 | (369,955) | 91,553 |
Other income (expense): | ||||
Other income | 346 | 2,624 | ||
Total other income | 346 | 2,624 | ||
Income (loss) before income taxes | (131,854) | 94,007 | (367,331) | 91,553 |
Provision for income taxes | ||||
Net Income (Loss) | (131,854) | 94,007 | (367,331) | 91,553 |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustment | (4,660) | 10,644 | (8,073) | 3,118 |
Comprehensive income(loss) | $ (136,514) | $ 104,651 | $ (375,404) | $ 94,671 |
Basic and diluted net income (loss) per share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average number of common shares outstanding, basic and diluted | 101,781,873 | 66,714,286 | 101,393,096 | 43,044,199 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net Income (Loss) | $ (367,331) | $ 91,553 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation expense | 6,077 | 307 |
Changes in operating assets and liabilities: | ||
Accounts Receivable | (2,037) | 10,714 |
Advances to suppliers | (50,690) | |
Deposits | (21,883) | |
Other assets | (16,928) | (179,817) |
Other assets, related party | 21,535 | 76,999 |
Inventory | 9,447 | 25,947 |
Accounts payable and accrued liabilities | 2,499 | 51,349 |
Other payables, related party | 88,423 | |
Net cash provided by (used in) operating activities | (253,542) | 209,366 |
Cash flows from investing activities: | ||
Purchase of equipment | 2,802 | 16,920 |
Net cash used in investing activities | (2,802) | (16,920) |
Cash flows from financing activities: | ||
Contributed capital | 7,679 | 17,181 |
Sale of common stock | 93,312 | |
Loans from related parties | ||
Repayment of related party loans | 3,906 | |
Net cash provided by financing activities | 100,991 | 13,275 |
Net change in cash | (155,353) | 205,721 |
Effects of currency translation | (9,372) | 3,118 |
Cash, beginning of period | 168,539 | 78,233 |
Cash, end of period | 3,814 | 287,072 |
SUPPLEMENTAL DISCLOSURES: | ||
Cash paid for interest | ||
Cash paid for taxes |
Description Of Business And His
Description Of Business And History | 6 Months Ended |
Jun. 30, 2018 | |
Description Of Business And History | |
Description of Business and History | NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY CAT9 Group Inc., CAT9 Cayman is a holding company incorporated in August 20, 2015, under the laws of the Cayman Islands. CAT9 Investment China Limited was incorporated in September 10, 2015, under the laws of Hong Kong. CAT9 Investment China is a window for the group to handle the business operations outside of China. Chongqing CAT9 Industry Company Ltd. is located in Chongqing, PRC and was incorporated under the laws of the PRC on June 26, 2014. Chongqing Field Industrial Company Ltd. operates through strategic alliance and distribution rights agreements in the PRC, the Company is engaged in the marketing and sales of (1) fresh fruits, vegetables meats (including primarily organic and non-organic from both domestically grown and imported (2) Acquisition of land for the planting of Acer Truncatum trees and harvesting of Acer Truncatum seeds to produce edible oil, (3) providing Hi-Tech cooperative farm management services in the PRC and overseas and (4) farm machinery sales. On March 9, 2017, Chongqing Field Industrial Company Ltd. was renamed Chongqing CAT9 Industry Company Ltd. On December 26, 2017, the Company filed its Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”), the Form S-1 became effective on April 4, 2018 and a post-effective amendment was filed amending the shares unsold on its Form S-1. The Company sold 1,166,400 shares pursuant to its Form S-1 registration statement. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2018 | |
Going Concern | |
Going Concern | NOTE 2 - GOING CONCERN The accompanying consolidated 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. The Company’s ability to raise additional capital through debt and/or equity financing is unknown. The obtainment of additional financing and the successful development of the Company’s contemplated plan of operations are necessary for the Company to continue. The ability to successfully resolve these factors raise substantial doubt about the Company’s ability to continue as a going concern. However; management believes that the Company will generate sufficient cash flows to fund its operations and to meet its obligations on timely basis for the next twelve months. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties. |
Summary Of Significant Policies
Summary Of Significant Policies | 6 Months Ended |
Jun. 30, 2018 | |
Summary Of Significant Policies | |
Summary of Significant Policies | NOTE 3 - SUMMARY OF SIGNIFICANT POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements of CAT9 Group Inc. have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission requirements for interim financial statements. Therefore, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The financial statements should be read in conjunction with the audited financial statements of CAT9 Group Inc. in our Form 10-K filed on March 29, 2018. The interim financial information is unaudited. In the opinion of management, all adjustments necessary to present fairly the financial position as of June 30, 2018 and the results of operations and cash flows presented herein have been included in the financial statements. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results of operations for the full year. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. Cash and cash equivalents Cash and cash equivalents consist of cash and short-term investments with original maturities of less than 90 days. Cash equivalents are placed with high credit quality financial institutions and are primarily in money market funds. The carrying value of those investments approximates fair value. Revenue recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. Accounts receivable Accounts receivable are recorded net of allowance for doubtful accounts. The Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Periodically, management assesses customer credit history and relationships as well as performs accounts receivable aging analysis. Accounts are considered past due after three months. As of June 30, 2018 and June 30, 2017, no allowance was deemed necessary since sales were comparatively recent. Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, CAT9 Cayman, and its subsidiaries, including CAT9 Investment China, and Chongqing CAT9 Industry Company Ltd. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. Translation Adjustment For the six months ended June 30, 2018 and the year ended December 31, 2017, the accounts of the Chongqing CAT9 were maintained, and its financial statements were expressed, in RMB. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the RMB as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the six months ended June 30, 2018and 2017 is included net income and foreign currency translation adjustments. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions | |
Related Party Transactions | NOTE 4 - RELATED PARTY TRANSACTIONS During the normal course of business, affiliated companies, members, and/or officers may advance the Company funds to pay for certain operating expenses. All advances are unsecured, non-interest bearing and due on demand. As of June 30, 2018, and December 31, 2017, the Company was indebted to related parties that advanced loans to the Company without any formal repayment terms. As of June 30, 2018, and December 31, 2017, the Company owed the aforementioned related parties $239,350 and $150,927, respectively. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2018 | |
Stockholders Equity | |
Stockholders' Equity | NOTE 5 - STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 shares of $.0001 par value preferred stock. As of June 30, 2018, no shares of preferred stock had been issued. Common Stock Pursuant to the Share Exchange Agreement dated December 27, 2016 the company cancelled and retired 9,000,000 shares of issued and outstanding common stock, (the “cancelled shares”), reducing the issued and outstanding shares to 1,000,000 shares. A cash amount of $1 was paid to Wenfa “Simon” Sun and Meihong “Sanya” Qian, the Company’s majority shareholders and owners of the cancelled shares, as consideration for cancelling the shares. The Company issued a total of 19,000,000 shares of common stock pursuant to the Share Exchange and as a result of the cancellation of the cancelled shares and the Share Exchange; there are 20,000,000 shares of common stock issued and outstanding following the Share Exchange. On March 31, 2017, the Company entered into a Subscription Agreement with one subscriber for the issuance of its restricted common stock – Tech Associates, Inc. an entity engaged to provide advisory and consulting services to the Company purchased 1,000,000 shares for total cash proceeds of $100. On April 26, 2017, the Company filed a Certificate of Amendment to the Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the authorized shares from 100,000,000 shares of common stock to 500,000,000 shares of common stock. On May 10, 2017, Wenfa “Simon” Sun, our President, Chief Executive Officer and Chairman purchased 78,000,000 shares of the Issuer’s restricted common stock from the Company in a private transaction at $0.0001. He is currently as of the date of this filing, the beneficial owner of 90,000,000 shares. On May 10, 2017, Meihong “Sanya” Qian, our Chief Financial Officer and Secretary purchased 2,000,000 shares of the Issuer’s restricted common stock from the Company in a private transaction at $0.0001. She is currently as of the date of this filing, the beneficial owner of 10,000,000 shares. On December 26, 2017, the Company filed its Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”), the Form S-1 became effective on April 4, 2018 and a post effective amendment was filed amending the shares unsold on its Form S-1. The Company sold 1,166,400 shares pursuant to its Form S-1 registration statement for total cash proceeds of $93,312. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2018 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | NOTE 6 – ACCUMULATED OTHER COMPREHENSIVE INCOME Balance of related after-tax components comprising accumulated other comprehensive income included members’ capital were as follows at: June 30, December 31, Accumulated other comprehensive income, beginning of period $ (9,705 ) $ 3,028 Change in cumulative translation adjustment (8,073 ) (12,735 ) Accumulated other comprehensive income (loss) end of period $ (17,778 ) $ (9,705 ) |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events | |
Subsequent Events | NOTE 7– SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Summary Of Significant Polici13
Summary Of Significant Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure Summary Of Significant Policies Policies Abstract | |
Basis of Presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements of CAT9 Group Inc. have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission requirements for interim financial statements. Therefore, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The financial statements should be read in conjunction with the audited financial statements of CAT9 Group Inc. in our Form 10-K filed on March 29, 2018. The interim financial information is unaudited. In the opinion of management, all adjustments necessary to present fairly the financial position as of June 30, 2018 and the results of operations and cash flows presented herein have been included in the financial statements. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results of operations for the full year. |
Use of Estimates | Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash and short-term investments with original maturities of less than 90 days. Cash equivalents are placed with high credit quality financial institutions and are primarily in money market funds. The carrying value of those investments approximates fair value. |
Revenue Recognition | Revenue recognition Revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that an entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon delivery. |
Accounts Receivable | Accounts receivable Accounts receivable are recorded net of allowance for doubtful accounts. The Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Periodically, management assesses customer credit history and relationships as well as performs accounts receivable aging analysis. Accounts are considered past due after three months. As of June 30, 2018 and June 30, 2017, no allowance was deemed necessary since sales were comparatively recent. |
Inventories | Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, CAT9 Cayman, and its subsidiaries, including CAT9 Investment China, and Chongqing CAT9 Industry Company Ltd. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated. |
Translation Adjustment | Translation Adjustment For the six months ended June 30, 2018 and the year ended December 31, 2017, the accounts of the Chongqing CAT9 were maintained, and its financial statements were expressed, in RMB. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the RMB as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. |
Comprehensive Income | Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the six months ended June 30, 2018and 2017 is included net income and foreign currency translation adjustments. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Accumulated Other Comprehensi14
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure Accumulated Other Comprehensive Income Tables Abstract | |
Schedule of Accumulated Other Comprehensive Income | Balance of related after-tax components comprising accumulated other comprehensive income included members’ capital were as follows at: June 30, December 31, Accumulated other comprehensive income, beginning of period $ (9,705 ) $ 3,028 Change in cumulative translation adjustment (8,073 ) (12,735 ) Accumulated other comprehensive income (loss) end of period $ (17,778 ) $ (9,705 ) |
Accumulated Other Comprehensi15
Accumulated Other Comprehensive Income (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Disclosure Accumulated Other Comprehensive Income Details Abstract | ||
Accumulated other comprehensive income, beginning of period | $ (9,705) | $ 3,028 |
Change in cumulative translation adjustment | (8,073) | (12,735) |
Accumulated other comprehensive income (loss) end of period | $ (17,778) | $ (9,705) |
Description Of Business And H16
Description Of Business And History (Narrative) (Details) | Dec. 27, 2016 |
CAT9 Cayman And Its Subsidiaries [Member] | |
Ownership interest by parent | 100.00% |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Mar. 31, 2018 | |
Related Party Transaction [Line Items] | |||
Other payable, related party | $ 239,350 | $ 150,927 | |
Related Parties [Member] | |||
Related Party Transaction [Line Items] | |||
Other payable, related party | $ 150,927 | $ 239,350 | |
Related party debt terms | The Company was indebted to related parties that advanced loans to the Company without any formal repayment terms | The Company was indebted to related parties that advanced loans to the Company without any formal repayment terms |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) | Apr. 04, 2018 | May 10, 2017 | Apr. 26, 2017 | Mar. 31, 2017 | Dec. 27, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Common stock, shares outstanding | 102,166,400 | 101,000,000 | ||||||
Proceeds from issue of common stock | $ 93,312 | |||||||
Restricted Stock [Member] | Subscription Agreement - Tech Associates, Inc. | ||||||||
Shares issued for cash, shares | 1,000,000 | |||||||
Proceeds from issue of common stock | $ 100 | |||||||
Wenfa "Simon" Sun - President, CEO And Chairman Of The Board Of Directors [Member] | Restricted Stock [Member] | ||||||||
Total shares held by shareholders for the period | 90,000,000 | |||||||
Shares issued for cash, shares | 78,000,000 | |||||||
Price per share | $ 0.0001 | |||||||
MeiHong "Sanya" Qian - Chief Financial Officer And Secretary [Member] | Restricted Stock [Member] | ||||||||
Total shares held by shareholders for the period | 10,000,000 | |||||||
Shares issued for cash, shares | 2,000,000 | |||||||
Price per share | $ 0.0001 | |||||||
Common Stock [Member] | ||||||||
Shares issued for cash, shares | 1,166,400 | |||||||
Proceeds from issue of common stock | $ 93,312 | |||||||
Change in authorized share capital | On April 26, 2017, the Company filed a Certificate of Amendment to the Certificate of Incorporation with the Secretary of State of the State of Delaware to increase the authorized shares from 100,000,000 shares of common stock to 500,000,000 shares of common stock. | |||||||
Common Stock [Member] | Share Exchange Agreement [Member] | Wenfa Simon Sun And Meihong Sanya Qian - Majority Shareholders and owners [Member] | ||||||||
Shares cancelled, shares | 9,000,000 | |||||||
Cash paid for cancellation of shares | $ 1 | |||||||
Total shares held by shareholders for the period | 1,000,000 | |||||||
Shares issued during the period, shares | 19,000,000 | |||||||
Common stock, shares outstanding | 20,000,000 |