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Note 1 - Basis of Presentation
3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Basis of Accounting [Text Block]
1. BASIS OF PRESENTATION
 
The accompanying unaudited condensed consolidated financial statements include the accounts of Physical Property Holdings Inc. and the subsidiaries that it controls (collectively referred to as the "Company"). The Company, through its subsidiaries, is engaged in the real estate business by holding five residential apartments in Hong Kong. Unless otherwise specified in the text, references to the Company include the Company and its subsidiaries. These financial statements should be read in conjunction with the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014
.
 
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. The condensed consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date but the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015
.
 
Translation of amounts from Hong Kong Dollars ("HK$") into United States Dollars ("US$") for the convenience of the reader has been made at the exchange rate of US$1.00 = HK$7.8. No representation is made that the Hong Kong Dollar amounts could have been, or could be, converted into United States Dollars, at that rate on March 31, 2015 or at any other certain rate.
 
The Company had negative working capital of HK$11,718
,000 as of March 31, 2015 and incurred losses of HK$154,000 and HK$178,000 for the three months ended March 31, 2015 and 2014 respectively. These conditions raised substantial doubt about the Company’s ability to continue as a going concern.
 
Continuation of the Company as a going concern is dependent upon attaining profitable operations in the future, exercising tight cost and cash flow controls measures, and the financial support from the Principal Stockholder.  The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
The Principal Stockholder has undertaken to make available adequate funds to the Company as and when required to maintain the Company as a going concern.  Having taken into consideration the undertaking provided by the Principal Stockholder, management believes that the Company will be able to settle its liabilities when they become due.  However, there can be no assurance that the financing from the Principal Stockholder will be continued.
 
During the three months ended March 31, 2015, Ngai Keung Luk (“Mr. Luk”), Chairman, Chief Executive Officer and the Principal Stockholder, made a net advance of HK$210,000 or US$27,000 to the Company as described in Note 5 below.  Mr. Luk owns 94.5% of the Company’s issued and outstanding shares of common stock as of the date this quarterly report is filed.
 
The Company has evaluated subsequent events through the date this quarterly report is filed.