Full Fiscal Years The Corporation was registered in New York State on January 28, 2016, and the Corporation started to run its business since march 26, 2016, and the Corporation didn't have full fiscal years, so we can discuss the financial condition, changes in financial condition and results of operations of the Corporation since January 28, 2016 to March 31, 2016. Liquidity and Capital Resources Our capital resources were from the investment of the owner. Our Capital Resources sources were our cash. Cash were $1,938 as of March 31, 2016. 15 Back to Table of Contents Cash Provided by Operating Activities $56 cash was invested in the spot gold and the spot silver trading as of March 31, 2015. Off-Balance Sheet Arrangements We did not have any off-balance sheet arrangements as of March 31, 2016. Contractual Obligations The Corporation didn't have any contractual obligations as of March 31, 2016. Obligations or Liabilities The Corporation didn't have any obligations or liabilities (including contingent obligations or liabilities) as of March 31, 2016. Contingencies The Corporation didn't have any contingencies as of March 31, 2016. Material Favorable Impact on Net Revenues or Income The Corporation didn't have any material favorable impact on net revenues or income as of March 31, 2016. Inflation and Other Changes in Prices The inflation and other changes in prices didn't impact the Corporation's net revenues and income from continuing operations. Plan of Operation and Milestones 1st event or milestone: Event or milestone: Start to profit in trading the spot gold and the spot silver. Expected manner of occurrence or method of achievement: Study the gold and silver market, and try to do our best in trading the spot gold and the spot silver. The Corporation's income will be reinvested to achieve increasing the share's price. Date or number of months after receipt of proceeds should be when accomplished: About on June 30, 2016. 2nd event or milestone: Event or milestone: The business will be running normally, to increase capital, to increase profit. Expected manner of occurrence or method of achievement: The Corporation's income will be reinvested to achieve increasing the share's price. Larison Inc will grant its fund to support the Corporation. Date or number of months after receipt of proceeds should be when accomplished: About on June 30, 2017. If the Corporation of delays in achieving each of the events or milestones within the above time schedule, the profit capacity of the Corporation will be serious to decrease, the Corporation's liquidity will be serious to decrease; even the Corporation's liquidity will be exhausted. The faith of the Corporation's shareholder will be serious to decrease, they will undersell the shares of the Corporation, and the share's price of the Corporation will be falling. Critical Accounting Policies and EstimatesOur financial statements are prepared in accordance with GAAP. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses, and related disclosures. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical experience and on various other assumptions that we believe are reasonable under the circumstances. On an ongoing basis, we evaluate our estimates and assumptions. Our actual results may differ from these estimates under different assumptions or conditions. We believe that the assumptions and estimates associated with revenue recognition for Payments and other fees, income taxes and share-based compensation have the greatest potential impact on our condensed financial statements. Therefore, we consider these to be our critical accounting policies and estimates. 16 Back to Table of Contents Quantitative and Qualitative Disclosures About Market RiskAs a result of our operating and financing activities, we are exposed to market risks such as interest rate risk, foreign currency exchange rate risk and credit risk. We have implemented policies and procedures designed to measure, manage, monitor and report risk exposures, which are regularly reviewed by the appropriate management and supervisory bodies. The Corporation started to run its business since March 26, 2016, so the Corporation shall provide, in the register statement, quantitative information about market risk as of the end of March 31, 2016, and the period was from January 28, 2015 to March 31, 2016. Interest Rate Risk Our have exposure to market risk for changes in interest rates relating to our cash and cash equivalents, short-term and long-term investments, short-term and long-term restricted cash and investments, and indebtedness. As of March 31, 2016, our cash and cash equivalents were $1,938, short-term investments were $56, long-term investments were $0, short-term restricted cash and investments were $0, long-term restricted cash and investments were $0, and indebtedness were $0. All these investments are denominated in U.S. dollars. The changes in interest rates don't impact the earnings of the Corporation. A hypothetical decrease in long-term interest rates to zero basis points would not impact annual pre-tax earnings as of March 31, 2016, assuming no change in the amount or composition of our cash and cash equivalents, short-term and long-term investments and short-term and long-term restricted cash and investments. As of March 31, 2016, we had $0 in outstanding debt. A hypothetical 100 basis point increase in long-term interest rates would not impact annual pre-tax earnings as of March 31, 2016, assuming no change in the volume or composition of our outstanding indebtedness and no hedging activity. F oreign Currency Exchange Rate Risk 1. Market Risk for Trading Purpose The Corporation will be using US dollars to trade the spot gold and the spot silver, so the Corporation isn't subject to foreign currency exchange rate risk. 2. Market Risk for Other than Trading Purpose The Corporation will be using US dollars to trade the spot gold and the spot silver, so the Corporation isn't subject to foreign currency exchange rate risk. 3. Credit Risk We are exposed to credit risk in our operations in the event of a brokerages default. We limit our exposure to credit risk by rigorously selecting the brokerages with which we make our trading. An ongoing review is performed to evaluate changes in the status of brokerages. In addition to the intrinsic creditworthiness of brokerages. For a summary of the risks associated with this investment activity and how these risks are mitigated, see "Risk Factors" in the registered statement. Impact of Inflation We have not been adversely affected by inflation when we are trading the spot gold and the spot silver. In the event of inflation, we believe that we will be able to pass on any price increases to our business, as the prices that we charge are not governed by long-term contracts. Evaluation of Disclosure Controls and ProceduresAs of the end of the period covered by this statement, an evaluation was carried out by our management, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934). Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that these disclosure controls and procedures were effective as of the end of the period covered by this statement. 17 Back to Table of Contents Changes in Internal Controls over Financial Reporting and StatementThere were no changes in our internal controls over financial reporting and statement that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting and statement. As a result, no corrective actions were taken. Directors, Executive Officers, Promoters and Control PersonsMr. Wanjun Xie will charge all managing affairs, operation affairs and financial affairs. An Accountant Service Agency will assist part of the Corporation's financial management affairs and all reporting Taxes affairs. Number of Directors: One. Director name: Mr. Wanjun Xie Mr. Wanjun Xie is the promoter and control person. Name: Wanjun Xie Title: President Age: 49 Office Street Address: 6112 228th Street, 1st Fl, NY11364 Telephone No.: (646) 508-6285 Employers during past five years: Name of employers: China Democracy Party Foundation Title: president Start date of position held: May, 2001 Job responsibilities: charge all affairs. Education: Degrees: bachelor Schools: Beijing Agriculture Engineer University (in China) Date: 09/1987-06/1991 Now, Wanjun Xie will continue to charge all affairs of China Democracy Party Foundation, but they are volunteers to work for China Democracy Party Foundation. Now, Wanjun Xie is self-employed. Principal Business of China Democracy Party Foundation (CDPF) CDPF is a not-for-profit organization in U.S.A. CDPF is trying to work for democracy, freedom, fairness and justice in China. CDPF is trying to bring the value view and the politic system of U.S.A . to China. CDPF is trying to build a multi-party political system in China in the future. Executive CompensationThe Corporation is a small corporation, so the Corporation doesn't have any executive compensation. We confirm that there has been no compensation awarded to, earned by, or paid to any named executive officers or directors for the periods covered in the financial statements included in the amended filing. Security Ownership of Certain Beneficial Owners and managementThis is the beneficial owner of more than five percent of any class of the Corporation's voting securities. |