Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 17, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 333-222288 | |
Entity Registrant Name | CAT9 Group Inc. | |
Entity Central Index Key | 0001632275 | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | Room 2001, Dading Century Square | |
Entity Address, Address Line Two | No.387, Tianren Road | |
Entity Address, Address Line Three | Wuhou District | |
Entity Address, City or Town | Chengdu | |
Entity Address, Country | CN | |
Entity Address, Postal Zip Code | 610000 | |
City Area Code | 86 | |
Local Phone Number | 028 85594777 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Elected Not To Use the Extended Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 102,166,400 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash | $ 42,066 | $ 7,000 |
Accounts receivable, net | 51,747 | 12,824 |
Prepaid expenses | 1,648 | |
Inventories | 259,333 | 306,973 |
Other receivables, related party | 1,293 | 1,149 |
Advances to suppliers | 126,428 | 167,235 |
Other current assets | 7,285 | 6,165 |
Total current assets | 489,800 | 501,346 |
Property & equipment, net | 9,668 | 12,227 |
Capitalized software costs, net | 1,058 | 4,248 |
Total assets | 500,526 | 517,821 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 475,833 | 511,011 |
Customer deposits | 8,459 | 1,673 |
Loan payable | 101,484 | 114,113 |
Loan payable, related parties | 160,369 | 183,709 |
Other payables | 8,566 | 1,051 |
Other payables, related party | 425,414 | 426,027 |
Total current liabilities | 1,180,125 | 1,237,584 |
Total liabilities | 1,180,125 | 1,237,584 |
Shareholders' 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 shares issued and outstanding | 10,217 | 10,217 |
Additional paid-in capital | 497,573 | 497,573 |
Accumulated deficit | (1,171,075) | (1,198,730) |
Accumulated other comprehensive loss | (16,314) | (28,823) |
Total Stockholders' Deficit | (679,599) | (719,763) |
Total liabilities and stockholders' deficit | $ 500,526 | $ 517,821 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
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 | 102,166,400 |
Common stock, shares outstanding | 102,166,400 | 102,166,400 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations And Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Statement [Abstract] | ||
Revenue | $ 256,190 | $ 1,054,015 |
Cost of revenue | 93,204 | 509,592 |
Gross margin | 162,986 | 544,423 |
Operating expenses: | ||
Professional Fees | 24,829 | 57,790 |
Consulting | 7,437 | 106,398 |
Selling, general and administrative | 103,758 | 643,897 |
Total operating expenses | 136,024 | 808,085 |
Income (loss) from operations | 26,962 | (263,662) |
Other income (expense): | ||
Other income | 4,546 | 324 |
Interest expense | (2,379) | |
Other expenses | (1,474) | (12,958) |
Total other income (expense) | 693 | (12,634) |
Income (loss) before income taxes | 27,655 | (276,295) |
Provision for income taxes | ||
Net Income (Loss) | 27,655 | (276,295) |
Other comprehensive income (loss): | ||
Foreign currency translation adjustment | 12,509 | 28,470 |
Comprehensive income (loss) | $ 40,164 | $ (247,825) |
Basic and diluted net income (loss) per share | $ 0 | $ 0 |
Weighted average number of common shares outstanding, basic and diluted | 102,166,400 | 102,166,400 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Other Comprehensive Loss [Member] | Total |
Balance, shares at Dec. 31, 2019 | 102,166,400 | ||||
Balance, amount at Dec. 31, 2019 | $ 10,217 | $ 497,573 | $ (825,752) | $ (12,338) | $ (330,300) |
Foreign currency translation adjustment | 28,470 | 28,470 | |||
Net Income (Loss) | (276,295) | (276,295) | |||
Balance, shares at Mar. 31, 2020 | 102,166,400 | ||||
Balance, amount at Mar. 31, 2020 | $ 10,217 | 497,573 | (1,102,047) | 16,132 | $ (578,125) |
Balance, shares at Dec. 31, 2020 | 102,166,400 | 102,166,400 | |||
Balance, amount at Dec. 31, 2020 | $ 10,217 | 497,573 | (1,198,730) | (28,823) | $ (719,763) |
Foreign currency translation adjustment | 12,509 | 12,509 | |||
Net Income (Loss) | 27,655 | $ 27,655 | |||
Balance, shares at Mar. 31, 2021 | 102,166,400 | 102,166,400 | |||
Balance, amount at Mar. 31, 2021 | $ 10,217 | $ 497,573 | $ (1,171,075) | $ (16,314) | $ (679,599) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net Income (Loss) | $ 27,655 | $ (276,295) |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Foreign currency translation adjustment | (13,452) | (28,470) |
Bad debt expense | 379,087 | |
Depreciation and amortizations expense | 4,806 | 7,061 |
Changes in operating assets and liabilities: | ||
Accounts Receivable | 38,923 | 106,008 |
Prepaid expenses | 1,648 | (1,551) |
Inventories | (47,640) | 148,723 |
Other assets, related party | 144 | 2,798 |
Advances to suppliers | (40,807) | 338,982 |
Other current assets | 1,120 | 8,160 |
Accounts payable and accrued liabilities | (35,178) | 308,119 |
Customer deposit | 6,786 | 1,301 |
Other payables | 7,515 | (4,440) |
Net cash provided by (used in) operating activities | 71,648 | (159,817) |
Cash flows from financing activities: | ||
Proceeds from loan payable | 140,060 | |
Repayment of loan payable | 35,969 | |
Proceeds from related parties | 1,064 | |
Repayment of related party loans | 613 | |
Net cash provided by (used in) financing activities | (36,582) | 141,124 |
Net change in cash, cash equivalents, and restricted cash | 35,066 | (18,693) |
Effects of currency translation | 487 | |
Cash, cash equivalents, and restricted cash at beginning of period | 7,000 | 189,429 |
Cash, cash equivalents, and restricted cash at end of period | 42,066 | 171,223 |
SUPPLEMENTAL DISCLOSURES: | ||
Cash paid for interest | ||
Cash paid for taxes |
Description Of Business And His
Description Of Business And History | 3 Months Ended |
Mar. 31, 2021 | |
Description Of Business And History | |
Description of Business and History | NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY Description of business CAT9 Group Inc., CAT9 Cayman is a holding company incorporated on August 20, 2015, under the laws of the Cayman Islands. CAT9 Investment China Limited was incorporated on 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 Industrial 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. Prior to the events above, the Company on July 31, 2015, the sole officer and director of the Company entered into a Share Purchase Agreement (the “SPA”) pursuant to which he entered into an agreement to sell an aggregate of 10,000,000 shares of his shares of the Company’s common stock to Chongqing Field Industrial Company Ltd. at an aggregate purchase price of $40,000. These shares represent 100% of the Company’s issued and outstanding common stock. Effective upon the closing date of the Share Purchase Agreement, August 12, 2015, the sole officer and director of the Company executed the agreement and owned no shares of the Company’s stock and Chongqing Field Industrial Company Ltd. was the sole stockholder of the Company. On May 2, 2016, the Company entered into Employee Agreements with Wenfa "Simon" Sun, its President, Chief Executive Officer, and Chairman of the Board of Directors, and MeiHong "Sanya" Qian, its Chief Financial Officer and Secretary. Pursuant to the Employment Agreement, the Company issued 6,000,000 shares of restricted common stock to Wenfa "Simon" Sun, and 4,000,000 shares of restricted common stock to MeiHong "Sanya" Qian. On May 3, 2016, the sole shareholder of the Company, Chongqing Field Industrial Ltd., ("CQFI") consented to a redemption of its 10,000,000 shares of common stock at a price of $0.0001 per share for an aggregate redemption price of $1,000. As a result of this action by CQFI, management of the Company now control 100% of the issued and outstanding shares. With the redemption and subsequent issuance of the 10,000,000 shares of restricted common stock, the Company effected a change in its control and the new majority shareholders are the current members of management of the Company. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Summary Of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Company's functional currency for Chongqing CAT9is the Chinese Renminbi (“RMB”); however, the accompanying financial statements have been translated and presented in the United States Dollars (“USD”). 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, Chongqing CAT9 Industrial Co., Ltd: Chongqing Yubei Branch Company of Chongqing CAT9 Industrial Co., Ltd; Chengdu First Branch Company of Chongqing CAT9 Industrial Co., Ltd; and Chengdu Second Branch Company of Chongqing CAT9 Industrial Co., Ltd. Translation Adjustment For the three months ended March 31, 2021 and 2020, 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 three months ended March 31, 2021 and 2020 is included net income and foreign currency translation adjustments. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 include cash in hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. |
Significant Concentration
Significant Concentration | 3 Months Ended |
Mar. 31, 2021 | |
Risks and Uncertainties [Abstract] | |
Significant Concentration | NOTE 3 – SIGNIFICANT CONCENTRATION Credit Risk Financial instruments which potentially expose the Company to concentrations of credit risk consist of cash and accounts receivable as of March 31, 2021 and December 31, 2020. The Company performs ongoing evaluations of its cash position and credit evaluations to ensure collections and minimize losses. The major part of the Company’s cash at March 31, 2021 and December 31, 2020 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. Geographic Concentration For the three months ended March 31, 2021 and 2020, the Company’s sales were mainly made to customers located in the PRC. Major parts of net assets of the Company are also located in the PRC. Customer Concentration The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended March 31, 2021: Amount % Zhejiang Quku Supply Chain Management Co., Ltd $ 123,081 48 % Sichuan Songxiang Times Science and Technology Co., Ltd $ 48,071 19 % Mingtong Chongqing Agricultural Technology Development Co., Ltd $ 27,122 11 % The following table sets forth information as to the accounts receivable derived from those customers that accounted for more than 10% of our accounts receivable as of March 31, 2021: Amount % Sichuan Songxiang Times Science and Technology Co., Ltd $ 19,753 38 % Mingtong Chongqing Agricultural Technology Development Co., Ltd $ 12,972 25 % |
Accounts Receivable
Accounts Receivable | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Accounts Receivable Abstract | |
Accounts Receivable | NOTE 4 – ACCOUNTS RECEIVABLE Account receivables consist of the following: March 31, 2021 December 31, 2020 Accounts receivable $ 51,747 $ 12,824 Less: allowance for doubtful accounts — — Accounts receivable, net $ 51,747 $ 12,824 |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Inventories Abstract | |
Inventories | Inventories consist of the following: March 31, December 31, Raw materials and parts $ 59,015 $ 66,089 Finished goods 200,318 248,571 Total 259,333 314,660 Less: allowance for inventory reserve — (7,687 ) Total inventory, net $ 259,333 $ 306,973 |
Property And Equipment
Property And Equipment | 3 Months Ended |
Mar. 31, 2021 | |
Property And Equipment | |
Property And Equipment | NOTE 6 — PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: March 31, 2021 December 31, 2020 Equipment $ 15,019 $ 15,074 Automobile 36,232 36,366 Acer Truncatum saplings 229 230 Total property and equipment 51,480 51,670 Less accumulated depreciation (41,812 ) (39,443 ) Property and equipment, net $ 9,668 $ 12,227 Depreciation expense was $2,124 and $3,057 for the three months ended March 31, 2021 and 2020, respectively. |
Capitalized Software Costs
Capitalized Software Costs | 3 Months Ended |
Mar. 31, 2021 | |
Capitalized Software Costs | |
Capitalized Software Costs | NOTE 7 — CAPITALIZED SOFTWARE COSTS Capitalized software costs consist of the following as of: March 31, 2021 December 31, 2020 Software $ 23,409 $ 23,495 Less accumulated amortization (22,351 ) (19,247 ) Software costs, net $ 1,058 $ 4,248 Amortization expense was $2,682 and $4,001 for the three months ended March 31, 2021 and 2020, respectively. |
Loan Payable
Loan Payable | 3 Months Ended |
Mar. 31, 2021 | |
Loan Payable | |
Loan Payable | NOTE 8 – LOAN PAYABLE As of March 31, 2021, the Company had outstanding loan agreements with some individuals in the amount of $101,484 (RMB $665,000). The Company’s vehicle with net value of $7,548 is pledged as security for a loan in the amount of $15,261 (RMB $100,000). During the three months ended March 31, 2020, the Company repaid a loan in full in the amount of $15,261 (RMB $100,000). All loans are past due as of March 31, 2021. The annual interest rates for the loans are from 0% to 30%. For the three months ended March 31, 2021, the interest expense is $2,381. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Related Party Transactions | |
Related Party Transactions | NOTE 9 – RELATED PARTY TRANSACTIONS Loan payable, related parties Due to related parties 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 March 31, 2021 and , 2020 March 31, 2021 and , 2020, the Company owed the aforementioned related parties $425,414 and $426,027, respectively. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2021 | |
Accumulated Other Comprehensive Loss | |
Accumulated Other Comprehensive Loss | NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE LOSS Balance of related after-tax components comprising accumulated other comprehensive loss included members’ capital were as follows: March 31, 2021 December 31, 2020 Accumulated other comprehensive loss, beginning of period $ (28,823 ) $ (12,338 ) Change in cumulative translation adjustment 12,509 (16,485 ) Accumulated other comprehensive loss, end of period $ (16,314 ) $ (28,823 ) |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events | |
Subsequent Events | NOTE 11 – 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 Accoun_2
Summary Of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Summary Of Significant Policies Policies Abstract | |
Basis of Presentation | Basis of Presentation The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Company's functional currency for Chongqing CAT9is the Chinese Renminbi (“RMB”); however, the accompanying financial statements have been translated and presented in the United States Dollars (“USD”). |
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, Chongqing CAT9 Industrial Co., Ltd: Chongqing Yubei Branch Company of Chongqing CAT9 Industrial Co., Ltd; Chengdu First Branch Company of Chongqing CAT9 Industrial Co., Ltd; and Chengdu Second Branch Company of Chongqing CAT9 Industrial Co., Ltd. |
Translation Adjustment | Translation Adjustment For the three months ended March 31, 2021 and 2020, 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 three months ended March 31, 2021 and 2020 is included net income and foreign currency translation adjustments. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 include cash in hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. |
Significant Concentration (Tabl
Significant Concentration (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Significant Concentration Tables Abstract | |
Schedule of Concentration of Credit Risk | The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended March 31, 2021: Amount % Zhejiang Quku Supply Chain Management Co., Ltd $ 123,081 48 % Sichuan Songxiang Times Science and Technology Co., Ltd $ 48,071 19 % Mingtong Chongqing Agricultural Technology Development Co., Ltd $ 27,122 11 % The following table sets forth information as to the accounts receivable derived from those customers that accounted for more than 10% of our accounts receivable as of March 31, 2021: Amount % Sichuan Songxiang Times Science and Technology Co., Ltd $ 19,753 38 % Mingtong Chongqing Agricultural Technology Development Co., Ltd $ 12,972 25 % |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Accounts Receivable Tables Abstract | |
Schedule of Accounts Receivable | Account receivables consist of the following: March 31, 2021 December 31, 2020 Accounts receivable $ 51,747 $ 12,824 Less: allowance for doubtful accounts — — Accounts receivable, net $ 51,747 $ 12,824 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Inventories Tables Abstract | |
Schedule of Inventories | Inventories consist of the following: March 31, December 31, Raw materials and parts $ 59,015 $ 66,089 Finished goods 200,318 248,571 Total 259,333 314,660 Less: allowance for inventory reserve — (7,687 ) Total inventory, net $ 259,333 $ 306,973 |
Property And Equipment (Tables)
Property And Equipment (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Equity Transactions Summarizes Common Stock Warrants Activity Details Abstract | |
Summary of Property and Equipment | Property and equipment are summarized as follows: March 31, 2021 December 31, 2020 Equipment $ 15,019 $ 15,074 Automobile 36,232 36,366 Acer Truncatum saplings 229 230 Total property and equipment 51,480 51,670 Less accumulated depreciation (41,812 ) (39,443 ) Property and equipment, net $ 9,668 $ 12,227 |
Capitalized Software Costs (Tab
Capitalized Software Costs (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Software Costs Tables Abstract | |
Summary of Capitalized Software Costs | Capitalized software costs consist of the following as of: March 31, 2021 December 31, 2020 Software $ 23,409 $ 23,495 Less accumulated amortization (22,351 ) (19,247 ) Software costs, net $ 1,058 $ 4,248 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Disclosure Accumulated Other Comprehensive Income Tables Abstract | |
Schedule of Accumulated Other Comprehensive Loss | Balance of related after-tax components comprising accumulated other comprehensive loss included members’ capital were as follows: March 31, 2021 December 31, 2020 Accumulated other comprehensive loss, beginning of period $ (28,823 ) $ (12,338 ) Change in cumulative translation adjustment 12,509 (16,485 ) Accumulated other comprehensive loss, end of period $ (16,314 ) $ (28,823 ) |
Significant Concentration (Sche
Significant Concentration (Schedule Of Concentration Of Credit Risk) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Concentration Risk [Line Items] | ||
Revenues | $ 256,190 | $ 1,054,015 |
Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | |
Revenue [Member] | Zhejiang Quku Supply Chain Management Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 48.00% | |
Revenues | $ 123,081 | |
Revenue [Member] | Sichuan Songxiang Times Science and Technology Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 19.00% | |
Revenues | $ 48,071 | |
Revenue [Member] | Mingtong Chongqing Agricultural Technology Development Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 11.00% | |
Revenues | $ 27,122 | |
Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | |
Accounts Receivable [Member] | Sichuan Songxiang Times Science and Technology Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 38.00% | |
Accounts Receivable | $ 19,753 | |
Accounts Receivable [Member] | Mingtong Chongqing Agricultural Technology Development Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 25.00% | |
Accounts Receivable | $ 12,972 |
Accounts Receivable (Schedule O
Accounts Receivable (Schedule Of Accounts Receivable) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts Receivable Schedule Of Accounts Receivable Details | ||
Accounts receivable | $ 51,747 | $ 12,824 |
Less: allowance for doubtful accounts | ||
Accounts receivable, net | $ 51,747 | $ 12,824 |
Inventories (Schedule Of Invent
Inventories (Schedule Of Inventories) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Inventories Schedule Of Inventories | ||
Raw materials and parts | $ 59,015 | $ 66,089 |
Finished goods | 200,318 | 248,571 |
Total | 259,333 | 314,660 |
Less: allowance for inventory reserve | 7,687 | |
Total inventory, net | $ 259,333 | $ 306,973 |
Property And Equipments (Summar
Property And Equipments (Summary Of Property And Equipment) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | $ 9,668 | $ 12,227 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 15,019 | 15,074 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 36,232 | 36,366 |
Acer Truncatum Saplings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 229 | 230 |
Property, Plant and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 51,480 | 51,670 |
Less accumulated depreciation | 41,812 | 39,443 |
Property and equipment, net | $ 9,668 | $ 12,227 |
Capitalized Software Costs (Sum
Capitalized Software Costs (Summary Of Software Costs) (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Capitalized Software Costs Summary Of Software Costs | ||
Software | $ 23,409 | $ 23,495 |
Less accumulated amortization | 22,351 | 19,247 |
Software costs, net | $ 1,058 | $ 4,248 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Accumulated Other Comprehensive Income Schedule Of Accumulated Other Comprehensive Income | ||
Accumulated other comprehensive loss, beginning of period | $ (28,823) | $ (12,338) |
Change in cumulative translation adjustment | 12,509 | (16,485) |
Accumulated other comprehensive loss, end of period | $ (16,314) | $ (28,823) |
Description Of Business And H_2
Description Of Business And History (Narrative) (Details) - USD ($) | May 03, 2016 | May 02, 2016 | Jul. 31, 2015 | Dec. 27, 2016 |
Chongqing Field Industrial Ltd. ("CQFI") - Sole Shareholder [Member] | Restricted Common Stock [Member] | ||||
Shares redeemed, shares | 10,000,000 | |||
Price per share | $ 0.0001 | |||
Shares redeemed, value | $ 1,000 | |||
Management Of The Company [Member] | Restricted Common Stock [Member] | ||||
Percent of stock owned by management after stock redemption | 100.00% | |||
Employee Agreements [Member] | Wenfa "Simon" Sun - President, CEO And Chairman Of The Board Of Directors [Member] | Restricted Common Stock [Member] | ||||
Shares issued under employee agreement, shares | 6,000,000 | |||
Employee Agreements [Member] | MeiHong "Sanya" Qian - Chief Financial Officer And Secretary [Member] | Restricted Common Stock [Member] | ||||
Shares issued under employee agreement, shares | 4,000,000 | |||
Share Purchase Agreement With Chongqing Field Industrial Company Ltd [Member] | ||||
Share purchase agreement description | The Company on July 31, 2015, the sole officer and director of the Company entered into a Share Purchase Agreement (the "SPA") pursuant to which he entered into an agreement to sell an aggregate of 10,000,000 shares of his shares of the Company's common stock to Chongqing Field Industrial Company Ltd. at an aggregate purchase price of $40,000. These shares represent 100% of the Company's issued and outstanding common stock. | |||
CAT9 Cayman And Its Subsidiaries [Member] | ||||
Ownership interest by parent | 100.00% |
Significant Concentration (Narr
Significant Concentration (Narrative) (Details) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Concentration Risk [Line Items] | ||
Concentration of credit risk insured deposits | The major part of the Company’s cash at March 31, 2021 and December 31, 2020 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. | The major part of the Company’s cash at March 31, 2021 and December 31, 2020 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. |
Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | |
Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% |
Property And Equipment (Narrati
Property And Equipment (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Property And Equipment Narrative | ||
Depreciation expenses | $ 2,124 | $ 3,057 |
Loan Payable (Narrative) (Detai
Loan Payable (Narrative) (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Short-term Debt [Line Items] | ||
Repayment of loan | $ 35,969 | |
Loan Payable [Member] | ||
Short-term Debt [Line Items] | ||
Loan payable carrying value | 101,484 | |
Vehicle value | 7,548 | |
Security for loan amount | $ 15,261 | |
Repayment of loan | $ 15,261 | |
Debt instrument description | All loans are past due as of March 31, 2021. | |
Interest expenses | $ 2,381 | |
Loan Payable [Member] | Minimum [Member] | ||
Short-term Debt [Line Items] | ||
Interst rate | 0.00% | |
Loan Payable [Member] | Maximum [Member] | ||
Short-term Debt [Line Items] | ||
Interst rate | 30.00% |
Loan Payable (Narrative) (Det_2
Loan Payable (Narrative) (Details) (RMB) | 3 Months Ended | |||
Mar. 31, 2021USD ($) | Mar. 31, 2021CNY (¥) | Mar. 31, 2020USD ($) | Mar. 31, 2021CNY (¥) | |
Short-term Debt [Line Items] | ||||
Repayment of loan | $ 35,969 | |||
China, Yuan Renminbi [Member] | ||||
Short-term Debt [Line Items] | ||||
Security for loan amount | ¥ | ¥ 100,000 | |||
Loan Payable [Member] | ||||
Short-term Debt [Line Items] | ||||
Loan payable carrying value | 101,484 | |||
Security for loan amount | $ 15,261 | |||
Repayment of loan | $ 15,261 | |||
Loan Payable [Member] | China, Yuan Renminbi [Member] | ||||
Short-term Debt [Line Items] | ||||
Loan payable carrying value | ¥ | ¥ 665,000 | |||
Repayment of loan | ¥ | ¥ 100,000 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | Jan. 02, 2020 | Mar. 31, 2021 | Dec. 31, 2020 |
Related Party Transaction [Line Items] | |||
Loan payable, related party | $ 160,369 | $ 183,709 | |
Other payable, related party | 425,414 | $ 426,027 | |
Sichuan CAT9 Technology - The Company Under Control Of Wenfa Sun, President, CEO And Chairman [Member] | Loans Agreement Dated January 1, 2020 [Member] | |||
Related Party Transaction [Line Items] | |||
Loan payable face amount | $ 763,035 | ||
Loan payable maturity date | Dec. 31, 2020 | ||
Loan payable description | The loan is unsecured, non-interest bearing. | ||
Loan payable, related party | 160,369 | ||
Loan payable unused credit line | $ 602,666 | ||
Related Parties [Member] | |||
Related Party Transaction [Line Items] | |||
Loan payable description | This loan is past due. | ||
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. | |
Other payable, related party | $ 425,414 | $ 426,027 |
Related Party Transactions (N_2
Related Party Transactions (Narrative) (Details) (RMB) - Jan. 02, 2020 - Sichuan CAT9 Technology - The Company Under Control Of Wenfa Sun, President, CEO And Chairman [Member] - Loans Agreement Dated January 1, 2020 [Member] | USD ($) | CNY (¥) |
Related Party Transaction [Line Items] | ||
Loan payable face amount | $ | $ 763,035 | |
China, Yuan Renminbi [Member] | ||
Related Party Transaction [Line Items] | ||
Loan payable face amount | ¥ | ¥ 5,000,000 |