China VTV (CVTV) 10-Q 15 Jul 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 31, 2019	Jul. 09, 2019
Document And Entity Information
Entity Registrant Name	China VTV Ltd
Entity Central Index Key	0001639234
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	May 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	May 31, 2019	Feb. 28, 2019
Current Assets
Cash and cash equivalents	$ 10,051	$ 17,548
Total current assets	10,051	17,548
Total Assets	10,051	17,548
Current Liabilities
Accrued expenses	39,206	23,163
Due to related parties	672,465	592,739
Total current liabilities	711,671	615,902
Total liabilities	711,671	615,902
Stockholders' Deficit
Common stock, par value $0.001,600,000,000 shares authorized, 220,550,000 and 105,000,000 shares issued and outstanding as of May 31, 2019 and February 28, 2019, respectively	220,550	105,000
Additional paid-in capital	2,096,778	2,212,328
Accumulated deficit	(3,017,958)	(2,914,919)
Accumulated other comprehensive income (loss)	(990)	(763)
Total stockholders' deficit	(701,620)	(598,354)
Total Liabilities and Stockholders' Deficit	$ 10,051	$ 17,548

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2019	Feb. 28, 2019
Stockholders' Deficit
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	220,550,000	105,000,000
Common stock, shares outstanding	220,550,000	105,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME(LOSS) (UNAUDITED) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME(LOSS) (UNAUDITED)
Sales revenue, net
Cost of revenue
Gross profit
Operating expenses
Research and development expenses		862,142
General and administrative expenses	103,039	16,614
Total operating expenses	103,039	878,756
Loss from operations	(103,039)	(878,756)
Loss before income taxes	(103,039)	(878,756)
Provision for income taxes
Net loss	(103,039)	(878,756)
Other Comprehensive Income (Loss):
Net loss	(103,039)	(878,756)
Foreign currency translation adjustment, net of tax	(227)	482
Comprehensive Loss	$ (103,266)	$ (878,274)
Net loss per common share:
Basic and diluted	$ 0	$ (0.01)
Weighted average number of common shares outstanding:
Basic and diluted	137,655,435	75,000,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018
Cash Flows from Operating Activities
Net loss	$ (103,039)	$ (878,756)
Changes in assets and liabilities:
Increase (decrease) in accrued expenses	16,020	(925)
Increase in due to related parties	79,522	3,442
Net cash used in operating activities	(7,497)	(876,239)
Cash Flows from Financing Activities
Capital contribution from the shareholder		862,140
Net cash provided by financing activities		862,140
Net decrease in cash and cash equivalents	(7,497)	(14,099)
Cash and Cash Equivalents
Beginning	17,548	51,451
Ending	$ 10,051	$ 37,352
Supplemental Disclosure of Cash Flows
Cash paid during the period for:
Interest expenses
Income taxes
Noncash Financing and Investing Activities:
Issuance of common stock for equity acquisition	$ 2,201,665

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($)	Total	Accumulated Other Comprehensive Income Loss	Common Stock Number of shares	Additional Paid-in Capital	Accumulated Deficit
Balance, Shares at Feb. 28, 2018			75,000,000
Balance, Amount at Feb. 28, 2018	$ (1,864,596)	$ 364	$ 75,000	$ 10,663	$ (1,949,895)
Net loss	(878,756)				(878,756)
Foreign currency translation	484	484
Balance, Shares at May. 31, 2018			75,000,000
Balance, Amount at May. 31, 2018	(2,742,868)	120	$ 75,000	10,663	(2,828,651)
Balance, Shares at Feb. 28, 2019			105,000,000
Balance, Amount at Feb. 28, 2019	(598,354)	(763)	$ 105,000	2,212,328	(2,914,919)
Net loss	(103,039)				(103,039)
Foreign currency translation	(230)	(227)
Issuance of common stock for the acquisition of China VTV Ltd., Shares			115,550,000
Issuance of common stock for the acquisition of China VTV Ltd., Amount			$ 115,550	(115,550)
Balance, Shares at May. 31, 2019			220,550,000
Balance, Amount at May. 31, 2019	$ (701,620)	$ (990)	$ 220,550	$ 2,096,778	$ (3,017,958)

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	May 31, 2019
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Description of Business China VTV Limited (Formerly T-Bamm) (the “Company”) was incorporated in the State of Nevada on February 19, 2015 and established a fiscal year end of February 28. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company was organized to sell Bamboo T-Shirts over the internet. On February 9, 2018, the Company changed its name from T-Bamm to “China VTV Limited”. The Company is no longer in the Bamboo T-Shirt business. China VTV Ltd. (“China VTV”) was incorporated on January 9, 2015 under the laws of Hong Kong. The business plan of China VTV is developing an Over-The-Top (the “OTT”) streaming media platform and distributing licensed and self-produced programs directly to its audience over the internet. As of May 31, 2019, China VTV has conducted limited business operations and had no revenues from operations since its inception. On March 15, 2019, the Company, China VTV and its shareholders entered into a share purchase/ exchange agreement (the “Share Exchange Agreement”), pursuant to which the Company issued an aggregate of 110,550,000 shares of its common stock to all of the shareholders of China VTV in prorated amounts in exchange for all of the issued and outstanding equity interests of China VTV on the Closing Date (defined below). Effective on May 6, 2019 (the "Closing Date"), pursuant to the Share Exchange Agreement, the Company issued an aggregate of 115,550,000 shares of our common stock to the shareholders of China VTV in exchange for all of the issued and outstanding equity interests of China VTV and five individuals who provided prior services to China VTV. As a result, China VTV has become a wholly-owned subsidiary of the Company. The acquisition of China VTV is treated as a reverse acquisition (the “Reverse Merger”), and the business of China VTV became the business of the Company. At the time of the Reverse Merger, the Company was not engaged in any active business. Effective on January 31, 2019, China VTV changed its fiscal year end to February 28. Basis of Presentation The accompanying consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reclassification Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss nor accumulated deficit. Research and Development Expenses Research and development costs are generally expensed as incurred. Research and development expenses mainly consist of the costs incurred in the development and improvement of the Company’s OTT service platform. Research and development expenses were $0 and $862,142 for the three months ended May 31, 2019 and 2018, respectively. Translation Adjustment The accounts of China VTV were maintained, and its financial statements were expressed, in Hong Kong Dollar (“HKD”). Such financial statements were translated into U.S. Dollars (“$” or “USD”) in accordance ASC 830, “Foreign Currency Matters”, with the HKD as the functional currency. Pursuant to the ASC 830, all assets and liabilities are translated at the current exchange rate, stockholders’ equity(deficit) are translated at the historical rates, and income statement items are translated at an average exchange rate for the period. The resulting translation adjustments are reported under accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit). Comprehensive Income (Loss) Comprehensive income (loss) includes accumulated foreign currency translation gains and losses. The Company has reported the components of comprehensive income (loss) on its consolidated statements of stockholders’ equity(deficit) and consolidated statements of operations and comprehensive income (loss). Fair Value Measurements FASB ASC 820, “Fair Value Measurements” defines fair value for certain financial and nonfinancial assets and liabilities that are recorded at fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. It requires that an entity measure its financial instruments to base fair value on exit price, maximize the use of observable units and minimize the use of unobservable inputs to determine the exit price. It establishes a hierarchy which prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy increases the consistency and comparability of fair value measurements and related disclosures by maximizing the use of observable inputs and minimizing the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the assets or liabilities based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy prioritizes the inputs into three broad levels based on the reliability of the inputs as follows: · Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available. · Level 2 – Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3 – Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability. The carrying values of certain assets and liabilities of the Company, such as due to related party, approximate to fair value due to their relatively short maturities. Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on the consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on its consolidated financial statements.

GOING CONCERN

GOING CONCERN	3 Months Ended
	May 31, 2019
GOING CONCERN
NOTE 2. GOING CONCERN	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of May 31, 2019, the Company had a working capital deficiency of $701,620 and has incurred losses since its inception resulting in an accumulated deficit of $3,017,958. During the three months ended May 31, 2019, the Company incurred a net loss of $103,039. Further losses are anticipated in the development of the business, raising substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might result from the outcome of this uncertainty. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company upon signing of that agreement. The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial research and development expenditure levels, uncertain revenue streams, and difficulties in managing growth. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations from the development of its planned business. The Company plans to seek additional funds through capital contributions and loans from its stockholders, officers, and directors. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	May 31, 2019
ACCRUED EXPENSES
NOTE 3. ACCRUED EXPENSES	Accrued expenses consist of the following: May 31, February 28, 2019 2019 Accrued salaries $ 26,472 $ - Accrued professional fees 12,734 23,163 Total $ 39,206 $ 23,163

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	May 31, 2019
RELATED PARTY TRANSACTIONS
NOTE 4 - RELATED PARTY TRANSACTIONS	The related parties of the Company with whom transactions are reported in these consolidated financial statements are as follows: Name of entity or Individual Relationship with the Company and its subsidiary Tijing Song Shareholder, Chairman of the Board, CEO and President Guoping Chen Shareholder, Director, interim CFO, Secretary and Treasurer Due to related parties May 31, February 28, 2019 2019 Due to Guoping Chen $ 521,474 $ 456,474 Due to Tijing Song 150,991 136,265 Total $ 672,465 $ 592,739 The Company has received advances from its related parties for working capital purposes. The Company has not entered into any agreement on the repayment terms for these advances. The advances bear no interest and are due on demand.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	3 Months Ended
	May 31, 2019
STOCKHOLDERS' DEFICIT
NOTE 5. STOCKHOLDERS' DEFICIT	The Company’s capitalization is comprised of 600,000,000 common shares with a par value of $0.001 per share. No preferred shares have been authorized or issued. On April 18, 2018, the Company filed a Certificate of Amendment to Articles of Incorporation, as amended, with the Nevada Secretary of State to amend the Company’s Articles of Incorporation to increase the number of authorized shares of common stock from 75,000,000 to 600,000,000 shares, par value of $0.001 per share. Pursuant to the Share Exchange Agreement (See Note 1), the Company issued an aggregate of 115,550,000 shares of common stock to the shareholders of China VTV and five individuals who provided prior services to China VTV on May 6, 2019.

INCOME TAXES

INCOME TAXES	3 Months Ended
	May 31, 2019
INCOME TAXES
NOTE 6 - INCOME TAXES	United States The Company files income tax returns in the U.S. federal jurisdiction and local jurisdictions. The Company is not currently under examination by the Internal Revenue Service or any state income tax authorities. The 2015 through 2017 tax years remain subject to examination by the Internal Revenue Service. On December 22, 2017, H.R. 1 , . Hong Kong China VTV was incorporated in Hong Kong and is subject to Hong Kong profits tax at 16.5%. No provision for Hong Kong income or profit tax has been made as the China VTV has no assessable profit for the period from January 9, 2015 (date of inception) to May 31, 2019. The Company has provided a full valuation allowance on the deferred tax assets for the net operating loss carry-forward because of the uncertainty regarding its realizability. Provision for income tax expense (benefit) consists of the following: For the Three Months ended May 31, 2019 2018 Current USA $ - $ - Hong Kong - - Deferred USA Deferred tax assets for NOL carryforwards (13,034 ) (3,187 ) Valuation allowance 13,034 3,187 Net changes in deferred income tax expense (benefit) under non-current portion - - Hong Kong Deferred tax assets for NOL carryforwards (6,760 ) (142,491 ) Valuation allowance 6,760 142,491 Net changes in deferred income tax expense (benefit) under non-current portion - - Total provision for income tax expense (benefit) $ - $ - The following is a reconciliation of the statutory tax rate to the effective tax rate: For the Three Months Ended May 31, 2019 2018 U.S. statutory tax benefit (21.0 )% (21.0 )% Change in deferred tax asset valuation allowance 21.0 % 21.0 % Hong Kong statutory tax benefit (16.5 )% (16.5 )% Change in deferred tax asset valuation allowance 16.5 % 16.5 % Effective income tax rate 0.0 % 0.0 % The significant component of deferred income tax assets at May 31, 2019 and February 28, 2019 is as follows: May 31, 2019 February 28, 2019 Net operating loss carry-forward $ 526,917 $ 507,123 Valuation allowance (526,917 ) (507,123 ) Net deferred income tax assets $ – $ –

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	May 31, 2019
SUBSEQUENT EVENTS
NOTE 7 - SUBSEQUENT EVENTS	The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of May 31, 2019 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.”

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	May 31, 2019
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
Description of Business	China VTV Limited (Formerly T-Bamm) (the “Company”) was incorporated in the State of Nevada on February 19, 2015 and established a fiscal year end of February 28. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company was organized to sell Bamboo T-Shirts over the internet. On February 9, 2018, the Company changed its name from T-Bamm to “China VTV Limited”. The Company is no longer in the Bamboo T-Shirt business. China VTV Ltd. (“China VTV”) was incorporated on January 9, 2015 under the laws of Hong Kong. The business plan of China VTV is developing an Over-The-Top (the “OTT”) streaming media platform and distributing licensed and self-produced programs directly to its audience over the internet. As of May 31, 2019, China VTV has conducted limited business operations and had no revenues from operations since its inception. On March 15, 2019, the Company, China VTV and its shareholders entered into a share purchase/ exchange agreement (the “Share Exchange Agreement”), pursuant to which the Company issued an aggregate of 110,550,000 shares of its common stock to all of the shareholders of China VTV in prorated amounts in exchange for all of the issued and outstanding equity interests of China VTV on the Closing Date (defined below). Effective on May 6, 2019 (the "Closing Date"), pursuant to the Share Exchange Agreement, the Company issued an aggregate of 115,550,000 shares of our common stock to the shareholders of China VTV in exchange for all of the issued and outstanding equity interests of China VTV and five individuals who provided prior services to China VTV. As a result, China VTV has become a wholly-owned subsidiary of the Company. The acquisition of China VTV is treated as a reverse acquisition (the “Reverse Merger”), and the business of China VTV became the business of the Company. At the time of the Reverse Merger, the Company was not engaged in any active business. Effective on January 31, 2019, China VTV changed its fiscal year end to February 28.
Basis of Presentation	The accompanying consolidated financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The accompanying financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.
Use of Estimates	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. The reclassification had no impact on previously reported net loss nor accumulated deficit.
Research and Development Expenses	Research and development costs are generally expensed as incurred. Research and development expenses mainly consist of the costs incurred in the development and improvement of the Company’s OTT service platform. Research and development expenses were $0 and $862,142 for the three months ended May 31, 2019 and 2018, respectively.
Translation Adjustment	The accounts of China VTV were maintained, and its financial statements were expressed, in Hong Kong Dollar (“HKD”). Such financial statements were translated into U.S. Dollars (“$” or “USD”) in accordance ASC 830, “Foreign Currency Matters”, with the HKD as the functional currency. Pursuant to the ASC 830, all assets and liabilities are translated at the current exchange rate, stockholders’ equity(deficit) are translated at the historical rates, and income statement items are translated at an average exchange rate for the period. The resulting translation adjustments are reported under accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit).
Comprehensive Income (Loss)	Comprehensive income (loss) includes accumulated foreign currency translation gains and losses. The Company has reported the components of comprehensive income (loss) on its consolidated statements of stockholders’ equity(deficit) and consolidated statements of operations and comprehensive income (loss).
Fair Value Measurements	FASB ASC 820, “Fair Value Measurements” defines fair value for certain financial and nonfinancial assets and liabilities that are recorded at fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. It requires that an entity measure its financial instruments to base fair value on exit price, maximize the use of observable units and minimize the use of unobservable inputs to determine the exit price. It establishes a hierarchy which prioritizes the inputs to valuation techniques used to measure fair value. This hierarchy increases the consistency and comparability of fair value measurements and related disclosures by maximizing the use of observable inputs and minimizing the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the assets or liabilities based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy prioritizes the inputs into three broad levels based on the reliability of the inputs as follows: · Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Valuation of these instruments does not require a high degree of judgment as the valuations are based on quoted prices in active markets that are readily and regularly available. · Level 2 – Inputs other than quoted prices in active markets that are either directly or indirectly observable as of the measurement date, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. · Level 3 – Valuations based on inputs that are unobservable and not corroborated by market data. The fair value for such assets and liabilities is generally determined using pricing models, discounted cash flow methodologies, or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability. The carrying values of certain assets and liabilities of the Company, such as due to related party, approximate to fair value due to their relatively short maturities.
Recent Accounting Pronouncements	Management has considered all recent accounting pronouncements issued and their potential effect on the consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on its consolidated financial statements.

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	May 31, 2019
ACCRUED EXPENSES (Tables)
Schedule Of Accrued Expenses	Accrued expenses consist of the following: May 31, February 28, 2019 2019 Accrued salaries $ 26,472 $ - Accrued professional fees 12,734 23,163 Total $ 39,206 $ 23,163

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	May 31, 2019
RELATED PARTY TRANSACTIONS
Schedule of Due to related parties	May 31, February 28, 2019 2019 Due to Guoping Chen $ 521,474 $ 456,474 Due to Tijing Song 150,991 136,265 Total $ 672,465 $ 592,739

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	May 31, 2019
INCOME TAXES (Tables)
Provision for income taxes	For the Three Months ended May 31, 2019 2018 Current USA $ - $ - Hong Kong - - Deferred USA Deferred tax assets for NOL carryforwards (13,034 ) (3,187 ) Valuation allowance 13,034 3,187 Net changes in deferred income tax expense (benefit) under non-current portion - - Hong Kong Deferred tax assets for NOL carryforwards (6,760 ) (142,491 ) Valuation allowance 6,760 142,491 Net changes in deferred income tax expense (benefit) under non-current portion - - Total provision for income tax expense (benefit) $ - $ -
Reconciliation of the statutory tax rate	For the Three Months Ended May 31, 2019 2018 U.S. statutory tax benefit (21.0 )% (21.0 )% Change in deferred tax asset valuation allowance 21.0 % 21.0 % Hong Kong statutory tax benefit (16.5 )% (16.5 )% Change in deferred tax asset valuation allowance 16.5 % 16.5 % Effective income tax rate 0.0 % 0.0 %
Component of deferred income tax assets	May 31, 2019 February 28, 2019 Net operating loss carry-forward $ 526,755 $ 506,960 Valuation allowance (526,755 ) (506,960 ) Net deferred income tax assets $ – $ –

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	May 06, 2019	Mar. 15, 2019	May 31, 2019	May 31, 2018
Organization And Summary Of Significant Accounting Policies
State of Incorporation			Nevada
Date of Incorporation			Feb. 19, 2015
Research and development expenses				$ 862,142
Share Exchange Agreement [Member]
Organization And Summary Of Significant Accounting Policies
Exchange shares of common stock	115,550,000	110,550,000

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	May 31, 2019	May 31, 2018	Feb. 28, 2019
Going Concern
Working capital deficit	$ (701,620)
Accumulated deficit	(3,017,958)		$ (2,914,919)
Net loss	$ (103,039)	$ (878,756)

ACCRUED EXPENSES (Details Narra

ACCRUED EXPENSES (Details Narrative) - USD ($)	May 31, 2019	Feb. 28, 2019
ACCRUED EXPENSES (Details Narrative)
Accrued salaries	$ 26,472	$ 0
Accrued professional fees	12,734	23,163
Total	$ 39,206	$ 23,163

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	May 31, 2019	Feb. 28, 2019
Due to related parties	$ 672,465	$ 592,739
Guoping Chen [Member]
Due to related parties	521,474	456,474
Tijing Song [Member]
Due to related parties	$ 150,991	$ 136,265

STOCKHOLDERS DEFICIT (Details N

STOCKHOLDERS DEFICIT (Details Narrative) - $ / shares	May 31, 2019	May 06, 2019	Feb. 28, 2019	Apr. 18, 2018	Apr. 17, 2018
Common stock, par value	$ 0.001		$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	600,000,000		600,000,000		75,000,000
Number of shares authorized, increased				600,000,000
Common stock, shares issued	220,550,000		105,000,000
Share Exchange Agreement [Member]
Common stock, shares issued		115,550,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		12 Months Ended
	May 31, 2019	May 31, 2018	Feb. 28, 2018
Total provision for income tax expense (benefit)	$ 0	$ 0
USA
Current income tax expense (benefit)	0	0	$ 0
Deferred tax assets for NOL carryforwards	(13,034)	(3,187)
Valuation allowance	13,034	3,187
Net changes in deferred income tax expense (benefit) under non-current portion	0	0
Hong Kong
Deferred tax assets for NOL carryforwards	(6,760)	(142,491)
Valuation allowance	6,760	142,491
Net changes in deferred income tax expense (benefit) under non-current portion	0	0
Current income tax expense (benefit)	$ 0	$ 0

INCOME TAXES (Details 1)

INCOME TAXES (Details 1)	3 Months Ended
	May 31, 2019	May 31, 2018
Effective income tax rate	0.00%	0.00%
USA
U.S. statutory tax benefit	(21.00%)	(21.00%)
Change in deferred tax asset valuation allowance	21.00%	21.00%
Hong Kong
Change in deferred tax asset valuation allowance	16.50%	16.50%
Hong Kong statutory tax benefit	(16.50%)	(16.50%)

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	May 31, 2019	Feb. 28, 2019
INCOME TAXES (Details 2)
Net operating loss carry-forward	$ 526,917	$ 507,123
Valuation allowance	(526,917)	(507,123)
Net deferred income tax asset	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	1 Months Ended	3 Months Ended
	Dec. 22, 2017	May 31, 2019
Tax cuts and jobs act, description	The Tax Act lowers the U.S. federal corporate income tax rate (“Federal Tax Rate”) from 35% to 21% effective January 1, 2018.
USA
Tax Rate		21.00%
Hong Kong
Tax Rate		16.50%