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0001072588-11-000141.txt : 20110725 0001072588-11-000141.hdr.sgml : 20110725 20110722183924 ACCESSION NUMBER: 0001072588-11-000141 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110725 DATE AS OF CHANGE: 20110722 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDEN DRAGON HOLDING CO. CENTRAL INDEX KEY: 0001081938 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 274635140 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-27055 FILM NUMBER: 11983375 BUSINESS ADDRESS: STREET 1: 2460 W. 26TH AVENUE, SUITE 380-C CITY: DENVER STATE: CO ZIP: 80211 BUSINESS PHONE: 303-380-8280 MAIL ADDRESS: STREET 1: 2460 W. 26TH AVENUE, SUITE 380-C CITY: DENVER STATE: CO ZIP: 80211 FORMER COMPANY: FORMER CONFORMED NAME: CCVG, INC. DATE OF NAME CHANGE: 20101117 FORMER COMPANY: FORMER CONFORMED NAME: CONCORD VENTURES, INC. DATE OF NAME CHANGE: 20071003 FORMER COMPANY: FORMER CONFORMED NAME: CAVION TECHNOLOGIES INC DATE OF NAME CHANGE: 19990423 10-Q 1 gdhc10q063111.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10Q (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2011 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from __________ to ___________ Commission file number: 000-27055 GOLDEN DRAGON HOLDING CO. --------------------------- (Exact name of registrant as specified in its charter) DELAWARE 24-4635140 ---------- ------------ (State of Incorporation) (IRS Employer ID Number) 2460 WEST 26TH AVENUE, SUITE 380-C, DENVER, COLORADO 80211 ---------------------------------------------------------- (Address of principal executive offices) 303-704-4623 ------------ (Registrant's Telephone number) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ] Indicate by check mark whether the registrant is a large accelerated file, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [ ] (Do not check if a smaller reporting company) Smaller reporting company [X] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [ ] Indicate the number of share outstanding of each of the issuer's classes of common stock, as of the latest practicable date. As of July 15, 2011, there were 2,384,407 shares of the registrant's common stock, $0.0001 par value, issued and outstanding.

PART I ITEM 1. FINANCIAL STATEMENTS

GOLDEN DRAGON HOLDING CO. AND PREDECESSOR COMPANY NOTES TO FINANCIAL STATEMENTS JUNE 30, 2011 (UNAUDITED) 1. NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES: Nature of Operations Business Golden Dragon Holding Co. ("Golden Dragon") is a publicly quoted shell company seeking to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time. History Golden Dragon was incorporated in the State of Delaware in April 2010 as a wholly owned subsidiary of Concord Ventures, Inc. ("Concord"). Concord was a publicly quoted shell company with no assets, no operating business or other source of income and liabilities in excess of $590,000. Merger of Concord In order for Concord to re-domicile in the State of Delaware from the State of Colorado, on September 29, 2010, Concord entered into an Agreement and Plan of Merger ("the Merger Agreement") with one of its wholly owned subsidiary companies, CCVG, Inc. ("CCVG"). Under the terms of the Merger Agreement, Concord shares of common stock converted automatically to CCVG shares, without change or necessity to reissue. Also under the Merger Agreement, CCVG became the surviving company domiciled in Delaware. Reorganization into a Holding Company Structure Effective December 31, 2010, pursuant to the Delaware Holding Company formation statute, under Delaware General Corporate Law (DGCL) Section 251(g), CCVG completed an Agreement and Plan of Merger and Reorganization into a Holding Company ("the Reorganization") with CCAPS, Inc. ("CCAPS") and Golden Dragon, both wholly-owned subsidiaries of CCVG. The Reorganization provided for the merger of CCVG with and into CCAPS, with CCAPS being the surviving corporation in that merger. Contemporaneously with CCVG's merger with and into CCAPS, the shareholders of CCVG were converted into shareholders of Golden Dragon on a one share for one share basis. 6 As a result of this reorganization into a Holding Company structure, Golden Dragon became the surviving publicly quoted parent holding company with CCAPS, the surviving corporation of the merger between CCVG and CCAPS, becoming the sole remaining wholly-owned subsidiary of Golden Dragon. The Reorganization has been accounted for so as to reflect the fact that both CCVG and Golden Dragon were under common control at the date of the Reorganization, similar to a reverse acquisition of CCVG and its subsidiary company, CCAPS, by Golden Dragon. Sale of CCAPS On December 31, 2010, Golden Dragon entered into a Share Purchase Agreement with an unrelated third party. Under the terms of the Share Purchase Agreement, Golden Dragon sold 100% of the issued and outstanding shares of its sole remaining wholly owned subsidiary, CCAPS for $100 cash consideration, subject to its debts, and issued 25,000 restricted shares of Golden Dragon common stock, valued at $1,000, to CCAPS pursuant to the terms of the Share Purchase Agreement. At the time of the sale, CCAPS had no ongoing operations or assets and outstanding liabilities of approximately $678,000. Following the merger of CCVG with and into CCAPS, CCAPS, as the surviving corporation in that merger, retained all outstanding liabilities of CCVG in the divestiture. As a result of the sale of 100% of the issued and outstanding shares of CCAPS, Golden Dragon, the surviving publicly quoted holding company, will no longer consolidate the liabilities of CCAPS or CCVG. Basis of Presentation: The accompanying unaudited financial statements of Golden Dragon 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. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three and six months ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ended December 31, 2011. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2010 included in our Form 10-K filed with the SEC. Significant Accounting Policies: Use of Estimates -- The preparation of our consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in these 7 financial statements and accompanying notes. Actual results could differ from those estimates. Due to uncertainties inherent in the estimation process, it is possible that these estimates could be materially revised within the next year. Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and highly liquid debt instruments with original maturities of less than three months. Property and Equipment -- We owned no property and equipment during the six month periods ended June 30, 2011 or 2011 and consequently we recorded no depreciation expense during the six month period ended June 30, 2011 or 2010. Deferred Costs and Other -- Offering costs with respect to issue of common stock, warrants or options by us were initially deferred and ultimately offset against the proceeds from these equity transactions if successful or expensed if the proposed equity transaction is unsuccessful. We had no deferred costs and other as at June 30, 2011 or at December 31, 2010. Impairment of Long-Lived and Intangible Assets -- In the event that facts and circumstances indicated that the cost of long-lived and intangible assets may be impaired, an evaluation of recoverability was performed. If an evaluation was required, the estimated future undiscounted cash flows associated with the asset were compared to the asset's carrying amount to determine if a write-down to market value or discounted cash flow value was required. Financial Instruments -- The estimated fair values for financial instruments was determined at discrete points in time based on relevant market information. These estimates involved uncertainties and could not be determined with precision. The carrying amounts of notes receivable, accounts receivable, accounts payable and accrued liabilities approximated fair value because of the short-term maturities of these instruments. The fair value of notes payable approximated to their carrying value as generally their interest rates reflected our effective annual borrowing rate. Income Taxes -- We account for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Advertising costs -- Advertising costs are expensed as incurred. No advertising costs were incurred during the six month periods ended June 30, 2011 or 2010. Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. From our inception there were no differences between our comprehensive loss and net loss. 8 Our comprehensive loss was identical to our net loss for the six month periods ended June 30, 2011 and 2010. Income (Loss) Per Share -- Income (loss) per share is presented in accordance with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which requires the presentation of both basic and diluted earnings per share ("EPS") on the consolidated income statements. Basic EPS would exclude any dilutive effects of options, warrants and convertible securities but does include the restricted shares of common stock issued. Diluted EPS would reflect the potential dilution that would occur if securities of other contracts to issue common stock were exercised or converted to common stock. Basic EPS calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted EPS calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Basic and diluted EPS were identical for the three and six month periods ended June 30, 2011 and 2010 as we had no stock options or warrants outstanding during these periods. Stock-Based Compensation -- We have adopted ASC Topic 718, "Accounting for Stock-Based Compensation," which establishes a fair value method of accounting for stock-based compensation plans. In accordance with guidance now incorporated in ASC Topic 718, the cost of stock options and warrants issued to employees and non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which we expect to receive the benefit, which is generally the vesting period. The fair value of stock warrants was determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield. No stock based compensation was issued or outstanding during the six month periods ending June 30, 2011 and 2010. Business Segments -- We believe that our activities during the six month periods ended June 30, 2011 and 2010 comprised a single segment. Recently Issued Accounting Pronouncements-- We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of our operations. 2. GOING CONCERN AND LIQUIDITY: At June 30, 2011, we no assets, no operating business or other source of income, outstanding liabilities and stockholders' deficit both totaling $51,148. In our financial statements for the fiscal years ended December 31, 2010 and 2009, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. 9 Our unaudited financial statements for the six month periods ended June 30, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We had a working capital deficit of $51,148 and reported an accumulated deficit of $16,926,029 as at June 30, 2011. It is our current intention to seek to raise debt and, or, equity financing to fund our ongoing operating expenses and attempt to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. There is no assurance that this series of events will be satisfactorily completed. 3. ASSETS We had no assets as at June 30, 2011. As at December 31, 2010, our sole asset was Cash and Cash Equivalents of $100 relating to the sales consideration arising from the sale of our subsidiary company, CCAPS. 4. ACCOUNTS PAYABLE As at June 30, 2011, the balance of accounts payable represents legal fees payable. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accounts payable outstanding as at December 31, 2010. 5. ACCRUED EXPENSES As at June 30, 2011, the balance of accrued expenses represents interest payable on our related party loan (See Note 6.). Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accrued expenses outstanding as at December 31, 2010. 6. RELATED PARTY LOAN As at June 30, 2011, the related party loan represents a loan made to us by Mr. David J. Cutler, our sole officer, a director and majority shareholder. The loan is repayable on demand and at June 30, 2011, the principal balance owed was $37,550 with accrued interest of $564. Interest is accrued on the loan at 8%. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no related party loan outstanding as at December 31, 2010. 7. COMMITMENTS: Capital and Operating Leases We had no capital or operating leases outstanding as at June 30, 2011. 10 Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no capital or operating leases outstanding as at December 31, 2010. 7. COMMITMENTS CONT: Litigation No legal proceedings are currently pending or threatened to the best of our knowledge. 8. RELATED PARTY TRANSACTIONS As at June 30, 2011, we owed Mr. Cutler, our sole officer, a director and majority shareholder, $37,550 and accrued interest of $564. 9. STOCKHOLDERS' DEFICIT: Preferred Stock We were authorized, without further action by the shareholders, to issue 10,000,000 shares of one or more series of preferred stock at a par value of $0.0001, all of which is nonvoting. The Board of Directors may, without shareholder approval, determine the dividend rates, redemption prices, preferences on liquidation or dissolution, conversion rights, voting rights and any other preferences. No shares of preferred stock were issued or outstanding at June 30, 2011. Common Stock We were authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share. On April 29, 2008, we held our annual meeting of stockholders at which meeting the majority of stockholders approved, an up to 3 for 1 reverse split of our shares of common stock. No such reverse split has been effected as yet. Recent Issuances No shares of our common stock were issued in the six month periods ended June 30, 2011 or 2010. Warrants No warrants were issued or outstanding during the six month periods ended June 30, 2011 or 2010. Stock Options Effective March 19, 1999, we adopted a stock option plan (the "Plan"). The Plan provides for grants of incentive stock options, nonqualified stock options and restricted stock to designated employees, officers, directors, advisors and independent contractors. The Plan authorized the issuance of up to 75,000 shares 11 of Class A Common Stock. Under the Plan, the exercise price per share of a non-qualified stock option must be equal to at least 50% of the fair market value of the common stock at the grant date, and the exercise price per share of an incentive stock option must equal the fair market value of the common stock at the grant date. No stock options were issued or outstanding during the six month periods ended June 30, 2011. During the year ended December 31, 2009, the 2,000 remaining stock options outstanding under the plan expired. 10. INCOME TAXES We have had losses since our Inception, and therefore are not subject to federal or state income taxes. We have accumulated tax losses available for carryforward in excess $16 million. The carryforward is subject to examination by the tax authorities and expires at various dates through the year 2022. The Tax Reform Act of 1986 contains provisions that may limit the NOL carryforwards available for use in any given year upon the occurrence of certain events, including significant changes in ownership interest. Consequently following the issue more than 50% of our total authorized and issued share capital in September 2006 to Mr. Cutler, one of our directors, our ability to use these losses is substantially restricted by the impact of section 382 of the Internal Revenue Code. 11. SUBSEQUENT EVENTS We have evaluated subsequent events through July 15, 2011. Other than those set out above, there have been no subsequent events after June 30, 2011 for which disclosure is required. 12 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with the consolidated financial statements and notes thereto and the other financial information included elsewhere in this report. This discussion contains forward-looking statements that involve risks and uncertainties. We believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations: there can be no assurance that actual results will not differ materially from our expectations. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to, our ability to raise debt and, or, equity to fund our ongoing operating expenses and to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. You are urged to carefully consider these factors, as well as other information contained in this Annual Report on Form 10-K and in our other periodic reports and documents filed with the SEC. OVERVIEW Golden Dragon Holding Co. ("Golden Dragon") is a publicly quoted shell company seeking to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No such potential merger candidate has been identified at that time of this filing. History Golden Dragon was incorporated in the State of Delaware in April 2010 as a wholly owned subsidiary of Concord Ventures, Inc. ("Concord"). Concord was a publicly quoted shell company with no assets, no operating business or other source of income and liabilities in excess of $590,000. Merger of Concord In order for Concord to re-domicile in the state of Delaware from the state of Colorado, on September 29, 2010, Concord entered into an Agreement and Plan of Merger ("the Merger Agreement") with one of its wholly owned subsidiary companies, CCVG, Inc. ("CCVG"). Under the terms of the Merger Agreement, Concord shares of common stock converted automatically to CCVG shares, without change or necessity to reissue. Also under the Merger Agreement, CCVG became the surviving company domiciled in Delaware. Reorganization into a Holding Company Structure Effective December 31, 2010, pursuant to the Delaware Holding Company formation statute, under Delaware General Corporate Law (DGCL) Section 251(g), CCVG completed an Agreement and Plan of Merger and Reorganization into a Holding Company ("the Reorganization") with CCAPS, Inc. ("CCAPS") and Golden Dragon, both wholly-owned subsidiaries of CCVG. The Reorganization provided for the merger of CCVG with and into CCAPS, with CCAPS being the surviving corporation 13 in that merger. Contemporaneously with CCVG's merger with and into CCAPS, the shareholders of CCVG were converted into shareholders of Golden Dragon on a one share for one share basis. As a result of this reorganization into a Holding Company structure, Golden Dragon became the surviving publicly quoted parent holding company with CCAPS, the surviving corporation of the merger between CCVG and CCAPS, becoming the sole remaining wholly-owned subsidiary of Golden Dragon. The Reorganization has been accounted for so as to reflect the fact that both CCVG and Golden Dragon were under common control at the date of the Reorganization, similar to a reverse acquisition of CCVG and its subsidiary company, CCAPS, by Golden Dragon. Sale of CCAPS On December 31, 2010, Golden Dragon entered into a Share Purchase Agreement with an unrelated third party. Under the terms of the Share Purchase Agreement, Golden Dragon sold 100% of the issued and outstanding shares of its sole remaining wholly owned subsidiary, CCAPS for $100 cash consideration, subject to its debts, and issued 25,000 restricted shares of Golden Dragon common stock, valued at $1,000, to CCAPS pursuant to the terms of the Share Purchase Agreement. At the time of the sale, CCAPS had no ongoing operations or assets and outstanding liabilities of approximately $678,000. Following the merger of CCVG with and into CCAPS, CCAPS, as the surviving corporation in that merger, retained all outstanding liabilities of CCVG in the divestiture. As a result of the sale of 100% of the issued and outstanding shares of CCAPS, Golden Dragon, the surviving publicly quoted holding company, will no longer consolidate the liabilities of CCAPS or CCVG. PLAN OF OPERATIONS General Business Plan Our plan of operations is to raise debt and, or, equity to meet our ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There can be no assurance that we will successfully complete these transactions. In particular there is no assurance that any such business will be located or that any stockholder will realize any return on their shares after such a transaction. Any merger or acquisition completed by us can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders. We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors. We intend to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to us by persons or firms which desire to seek the advantages of an issuer who has complied with the Securities Act of 1934 (the "1934 Act"). We will not restrict our search to any specific business, industry or geographical location, and we may participate in business 14 ventures of virtually any nature. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our unlimited discretion to search for and enter into potential business opportunities. We anticipate that we may be able to participate in only one potential business venture because of our lack of financial resources. We may seek a business opportunity with entities which have recently commenced operations, or that desire to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries. We expect that the selection of a business opportunity will be complex. Due to general economic conditions, rapid technological advances being made in some industries and shortages of available capital, we believe that there are numerous firms seeking the benefits of an issuer who has complied with the 1934 Act. Such benefits may include facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all stockholders and other factors. Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. We have, and will continue to have, essentially no assets to provide the owners of business opportunities. However, we will be able to offer owners of acquisition candidates the opportunity to acquire a controlling ownership interest in an issuer who has complied with the 1934 Act without incurring the cost and time required to conduct an initial public offering. The analysis of new business opportunities will be undertaken by, or under the supervision of, our Board of Directors. We intend to concentrate on identifying preliminary prospective business opportunities which may be brought to our attention through present associations of our director, professional advisors or by our stockholders. In analyzing prospective business opportunities, we will consider such matters as (i) available technical, financial and managerial resources; (ii) working capital and other financial requirements; (iii) history of operations, if any, and prospects for the future; (iv) nature of present and expected competition; (v) quality, experience and depth of management services; (vi) potential for further research, development or exploration; (vii) specific risk factors not now foreseeable but that may be anticipated to impact the proposed activities of the company; (viii) potential for growth or expansion; (ix) potential for profit; (x) public recognition and acceptance of products, services or trades; (xi) name identification; and (xii) other factors that we consider relevant. As part of our investigation of the business opportunity, we expect to meet personally with management and key personnel. To the extent possible, we intend to utilize written reports and personal investigation to evaluate the above factors. We will not acquire or merge with any company for which audited financial statements cannot be obtained within a reasonable period of time after closing of the proposed transaction. 15 Acquisition Opportunities In implementing a structure for a particular business acquisition, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another company or entity. We may also acquire stock or assets of an existing business. Upon consummation of a transaction, it is probable that our present management and stockholders will no longer be in control of us. In addition, our sole director may, as part of the terms of the acquisition transaction, resign and be replaced by new directors without a vote of our stockholders, or sell his stock in us. Any such sale will only be made in compliance with the securities laws of the United States and any applicable state. It is anticipated that any securities issued in any such reorganization would be issued in reliance upon exemption from registration under application federal and state securities laws. In some circumstances, as a negotiated element of the transaction, we may agree to register all or a part of such securities immediately after the transaction is consummated or at specified times thereafter. If such registration occurs, it will be undertaken by the surviving entity after it has successfully consummated a merger or acquisition and is no longer considered an inactive company. The issuance of substantial additional securities and their potential sale into any trading market which may develop in our securities may have a depressive effect on the value of our securities in the future. There is no assurance that such a trading market will develop. While the actual terms of a transaction cannot be predicted, it is expected that the parties to any business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the business transaction in a so-called "tax-free" reorganization under Sections 368(a)(1) or 351 of the Internal Revenue Code (the "Code"). In order to obtain tax-free treatment under the Code, it may be necessary for the owner of the acquired business to own 80% or more of the voting stock of the surviving entity. In such event, our stockholders would retain less than 20% of the issued and outstanding shares of the surviving entity. This would result in significant dilution in the equity of our stockholders. As part of our investigation, we expect to meet personally with management and key personnel, visit and inspect material facilities, obtain independent analysis of verification of certain information provided, check references of management and key personnel, and take other reasonable investigative measures, to the extent of our limited financial resources and management expertise. The manner in which we participate in an opportunity will depend on the nature of the opportunity, the respective needs and desires of both parties, and the management of the opportunity. With respect to any merger or acquisition, and depending upon, among other things, the target company's assets and liabilities, our stockholders will in all likelihood hold a substantially lesser percentage ownership interest in us following any merger or acquisition. The percentage ownership may be subject to significant reduction in the event we acquire a target company with assets and expectations of growth. Any merger or acquisition can be expected to have a significant dilutive effect on the percentage of shares held by our stockholders. We will participate in a business opportunity only after the negotiation and execution of appropriate written business agreements. Although the terms of such agreements cannot be predicted, generally we anticipate that such agreements will (i) require specific representations and warranties by all of the parties; (ii) specify certain events of default; (iii) detail the terms of closing and the conditions which must be satisfied by each of the parties prior to and after 16 such closing; (iv) outline the manner of bearing costs, including costs associated with the Company's attorneys and accountants; (v) set forth remedies on defaults; and (vi) include miscellaneous other terms. As stated above, we will not acquire or merge with any entity which cannot provide independent audited financial statements within a reasonable period of time after closing of the proposed transaction. If such audited financial statements are not available at closing, or within time parameters necessary to insure our compliance within the requirements of the 1934 Act, or if the audited financial statements provided do not conform to the representations made by that business to be acquired, the definitive closing documents will provide that the proposed transaction will be voidable, at the discretion of our present management. If such transaction is voided, the definitive closing documents will also contain a provision providing for reimbursement for our costs associated with the proposed transaction. Competition We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors. Investment Company Act 1940 Although we will be subject to regulation under the Securities Act of 1933, as amended, and the 1934 Act, we believe we will not be subject to regulation under the Investment Company Act of 1940 (the "1940 Act") insofar as we will not be engaged in the business of investing or trading in securities. In the event we engage in business combinations that result in us holding passive investment interests in a number of entities, we could be subject to regulation under the 1940 Act. In such event, we would be required to register as an investment company and incur significant registration and compliance costs. We have obtained no formal determination from the SEC as to our status under the 1940 Act and, consequently, any violation of the 1940 Act would subject us to material adverse consequences. We believe that, currently, we are exempt under Regulation 3a-2 of the 1940 Act. Liquidity and Capital Resources At June 30, 2011, we no assets, no operating business or other source of income, outstanding liabilities and stockholders' deficit both totaling $51,148. In our financial statements for the fiscal years ended December 31, 2010 and 2009, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. Our unaudited financial statements for the six month periods ended June 30, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We had a working capital deficit of $51,148 and reported an accumulated deficit of $16,926,029 as at June 30, 2011. 17 It is our current intention to seek to raise debt and, or, equity financing to fund our ongoing operating expenses and attempt to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. There is no assurance that this series of events will be satisfactorily completed. RESULTS OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2011 COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2010 During the three months ended June 30, 2011 and 2010, we did not recognize any revenues and do not anticipate having revenue generating activities in the near future. General and Administrative Expenses During the three months ended June 30, 2011, we incurred $35,206 in general and administrative expenses compared to $25,558 in the three months ended June 30, 2010, an increase of $9,648. The increase was due to an increase in the level of legal and auditing fees incurred in the three months ended June 30, 2011 as compared to the three months ended June 30, 2010. Interest Expense We recognized an interest expense of $466 during the three months ended June, 2011, compared to $2,390 during the three months ended June 30, 2010, a decrease of $1,924. This interest expense relates to the interest accrued on the loan made to us by Mr. Cutler, our sole officer, a director and majority shareholder. The decrease in the amount of interest between the two periods reflects the decrease in the average principal balance of this loan between the two periods. Profit / (Loss) before Income Tax In the three months ended June 30, 2011, we recognized a loss before income tax of $35,672 compared to a loss before income tax of $27,948 in the three months ended June 30, 2010, an increase of $7,724 due to the factors discussed above. Provision for Income Taxes No provision for income taxes was required in the three months ended June 30, 2011 or 2010 as we generated tax losses both periods. 18 Net Profit / (Loss) and Comprehensive Profit / (Loss) In the three months ended June 30, 2011, we recognized a net loss of $35,672 compared to net a loss of $27,948 in the three months ended June 30, 2010, an increase of $7,724 due to the factors discussed above. The comprehensive loss was identical to the net loss in both the three months ended June 30, 2011 and 2010. SIX MONTHS ENDED JUNE 30, 2011 COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2010 During the six months ended June 30, 2011 and 2010, we did not recognize any revenues and do not anticipate having revenue generating activities in the near future. General and Administrative Expenses During the six months ended June, 2011, we incurred $50,684 in general and administrative expenses compared to $39,813 in the six months ended June 30, 2010, an increase of $10,871. The increase was due to an increase in the level of legal and auditing fees incurred in the six months ended June 30, 2011 as compared to the six months ended June 30, 2010. Interest Expense We recognized an interest expense of $564 during the six months ended June, 2011, compared to $4,457 during the six months ended June 30, 2010, a decrease of $3,893. This interest expense relates to the interest accrued on the loans made to us by Mr. Cutler, our sole officer, a director and majority shareholder. The decrease in the amount of interest between the two periods reflects the decrease in the average principal balance of the loan between the two periods. Profit / (Loss) before Income Tax In the six months ended June 30, 2011, we recognized a loss before income tax of $51,248 compared to a loss before income tax of $44,270 in the six months ended June 30, 2010, an increase of $6,978 due to the factors discussed above. Provision for Income Taxes No provision for income taxes was required in the six months ended June 30, 2011 or 2010 as we generated tax losses both periods. 19 Net Profit / (Loss) and Comprehensive Profit / (Loss) In the six months ended June 30, 2011, we recognized a net loss of $51,248 compared to net a loss of $44,270 in the six months ended June 30, 2010, an increase of $6,978 due to the factors discussed above. The comprehensive loss was identical to the net loss in both the six months ended June 30, 2011 and 2010. CASH FLOW INFORMATION FOR THE SIX MONTHS ENDED JUNE 30, 2011 COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2010 At June 30, 2011, we no assets, no operating business or other source of income, outstanding liabilities and stockholders' deficit both totaling $51,148. In our financial statements for the fiscal years ended December 31, 2010 and 2009, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. Our unaudited financial statements for the six month periods ended June 30, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We had a working capital deficit of $51,148 and reported an accumulated deficit of $16,926,029 as at June 30, 2011. It is our current intention to seek to raise debt and, or, equity financing to fund our ongoing operating expenses and attempt to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. There is no assurance that this series of events will be satisfactorily completed. During the six months ended June 30, 2011 and 2010, we did not have a bank account, although we did hold a balance of $100 in cash for part of the six month period ended June 30, 2011 (2010-$0) arising from the proceeds on the sale of our subsidiary company, CCAPS. Consequently, there were no movements in cash flow in the six months ended June 30, 2011 and 2010. All our costs were paid for directly by Mr. Cutler, an officer, director and shareholder of the Company. Net cash used in operations for the six months ended June 30, 2011 was $37,650 compared to $30,000 in the six months ended June 30, 2010, an increase of $7,650. In the six months ended June 30, 2011, our net losses were $51,248, which required no adjustment for any non-cash items, and were partially offset by a net positive movement in $13,598 in our accounts payable and accrued expenses. This does not represent an actual outflow of cash on our part. In the six months ended June 30, 2010, our net losses were $44,279, which required no adjustment for any non-cash items, and were partially offset by a net positive movement in $14,270 in our accounts payable and accrued expenses. This does not represent an actual outflow of cash on our part. No cash was provided by, or used in, investing activities during the six months ended March 31, 2011 and 2010. During the both the six months ended June 30, 2011 the Company received $37,550 from its financing activities by way of loan from a related party compared to $30,000 in the six months ended June 30, 2010, an increase of $7,550. This increase in the related party loan was a result of the payment of liabilities and expenses on our behalf by Mr. Cutler, an officer, director and shareholder of the Company 20 ITEM 3. QUANTATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the Company is not required to provide information required by this Item. ITEM 4. CONTROLS AND PROCEDURES Disclosures Controls and Procedures We have adopted and maintain disclosure controls and procedures (as such term is defined in Rules 13a 15(e) under the Securities Exchange Act of 1934, as amended the "Exchange Act") that are designed to ensure that information required to be disclosed in our reports under the Exchange Act, is recorded, processed, summarized and reported within the time periods required under the SEC's rules and forms and that the information is gathered and communicated to our Chief Executive Officer and Principal Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure. As required by SEC Rule 15d-15(b), our Chief Executive Officer and Principal Financial Officer carried out an evaluation under the supervision and with the participation of our management, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Exchange Act Rule 15d-14 as of the end of the period covered by this report. Based on the foregoing evaluation, our Chief Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures are effective in timely alerting them to material information required to be included in our periodic SEC filings and to ensure that information required to be disclosed in our periodic SEC filings is accumulated and communicated to our management, including our Chief Executive Officer and Principal Financial Officer, to allow timely decisions regarding required disclosure. There was no change in our internal control over financial reporting that occurred during the fiscal quarter ended June 30, 2011, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS We were not subject to any legal proceedings during the six month periods ended June 30, 2011 or 2010 and, to the best of our knowledge, no legal proceedings are pending or threatened. ITEM 2. CHANGES IN SECURITIES There were no changes in our securities in the six month periods ended June 30, 2011 or 2010. ITEM 3. DEFAULTS UPON SENIOR SECURITIES None. ITEM 4. REMOVED AND RESERVED ITEM 5. OTHER INFORMATION None. 21 ITEM 6. EXHIBITS Exhibits. The following is a complete list of exhibits filed as part of this Form 10-Q. Exhibit numbers correspond to the numbers in the Exhibit Table of Item 601 of Regulation S-K. Exhibit 31.1 Certification of Chief Executive/Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act * Exhibit 32.1 Certification of Principal Executive/Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act.* Exhibit 101.INS XBRL Instance Document (1) Exhibit 101.SCH XBRL Taxonomy Extension Schema Document (1) Exhibit 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document (1) Exhibit 101.DEF XBRL Taxonomy Extension Definition Linkbase Document (1) Exhibit 101.LAB XBRL Taxonomy Extension Label Linkbase Document (1) Exhibit 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document (1) (1) Pursuant to Rule 406T of Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections. (*) Filed Herewith. 22 SIGNATURES Pursuant to the requirements of Section 12 of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. GOLDEN DRAGON HOLDING CO. Date: July 22, 2011 By: /s/ DAVID J. CUTLER ----------------------------- David J Cutler Chief Executive Officer, & Chief Financial Officer 23 EX-31.1 2 ex31-1.txt Exhibit 31.1 CERTIFICATION OF PERIODIC REPORT I, David J. Cutler, certify that: 1. I have reviewed this quarterly report on Form 10-Q of Golden Dragon Holding Co.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report the Company's conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's 4th quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: July 22, 2011 /s/ David J. Cutler ----------------------------------------- David J. Cutler, President, Chief Executive Officer and Chief Financial Officer (Principal Executive & Accounting Officer) EX-32.2 3 ex32-1.txt Exhibit 32.1 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the accompanying Quarterly Report on Form 10-Q of Golden Dragon Holding Co. for the quarter ended June 30, 2011, I, David J. Cutler, Principal Executive & Accounting Officer of Golden Dragon Holding Co., hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to my knowledge, that: a) such Quarterly Report on Form 10-Q of Golden Dragon Holding Co. for the quarter ended June 30, 2011, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and b) the information contained in such Quarterly Report on Form 10-Q of Golden Dragon Holding Co. for the quarter ended June 30, 2011, fairly presents, in all material respects, the financial condition and results of operations of Concord Ventures, Inc. Date: July 22, 2011 /s/ David J. Cutler --------------------------------- David J. Cutler, Chief Executive Officer and Chief Financial Officer (Principal Executive and Accounting Officer) This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. EX-101.INS 4 gdhc-20110630.xml false --12-31 Q2 2011 2011-06-30 10-Q 0001081938 2384407 Smaller Reporting Company GOLDEN DRAGON HOLDING CO.  <div> <div> 3.       ASSETS   We had no assets as at June 30, 2011.   As at December 31, 2010, our sole asset was Cash and Cash Equivalents of $100 relating to the sales consideration arising from the sale of our subsidiary company, CCAPS. </div> </div>  <div> <div> 2.       GOING CONCERN AND LIQUIDITY:   At June 30, 2011, we no assets, no operating business or other source of income, outstanding liabilities and stockholders' deficit both totaling $51,148. In our financial statements for the fiscal years ended December 31, 2010 and 2009, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern.   Our unaudited financial statements for the six month periods ended June 30, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.   We had a working capital deficit of $51,148 and reported an accumulated deficit of $16,926,029 as at June 30, 2011.   It is our current intention to seek to raise debt and, or, equity financing to fund our ongoing operating expenses and attempt to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. There is no assurance that this series of events will be satisfactorily completed. </div> </div>  <div> <div> 6.       RELATED PARTY LOAN   As at June 30, 2011, the related party loan represents a loan made to us by Mr. David J. Cutler, our sole officer, a director and majority shareholder. The loan is repayable on demand and at June 30, 2011, the principal balance owed was $37,550 with accrued interest of $564.   Interest is accrued on the loan at 8%.   Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no related party loan outstanding as at December 31, 2010. </div> </div> 2384407 2384407 2359407 2359407

<div> <div> 5.       ACCRUED EXPENSES   As at June 30, 2011, the balance of accrued expenses represents interest payable on our related party loan (See Note 6.).   Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accrued expenses outstanding as at December 31, 2010. </div> </div>

<div> <div> 4.       ACCOUNTS PAYABLE   As at June 30, 2011, the balance of accounts payable represents legal fees payable. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accounts payable outstanding as at December 31, 2010. </div> </div>

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<div> <div> 7.       COMMITMENTS:   Capital and Operating Leases   We had no capital or operating leases outstanding as at June 30, 2011.   Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no capital or operating leases outstanding as at December 31, 2010.   Litigation   No legal proceedings are currently pending or threatened to the best of our knowledge. </div> </div>

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<div> <div> 10.       INCOME TAXES   We have had losses since our Inception, and therefore are not subject to federal or state income taxes. We have accumulated tax losses available for carryforward in excess $16 million. The carryforward is subject to examination by the tax authorities and expires at various dates through the year 2022. The Tax Reform Act of 1986 contains provisions that may limit the NOL carryforwards available for use in any given year upon the occurrence of certain events, including significant changes in ownership interest. Consequently following the issue more than 50% of our total authorized and issued share capital in September 2006 to Mr. Cutler, one of our directors, our ability to use these losses is substantially restricted by the impact of section 382 of the Internal Revenue Code. </div> </div>

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<div> <div> 1.       NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES:   Nature of Operations   Business   Golden Dragon Holding Co. ("Golden Dragon") is a publicly quoted shell company seeking to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time.   History   Golden Dragon was incorporated in the State of Delaware in April 2010 as a wholly owned subsidiary of Concord Ventures, Inc. ("Concord"). Concord was a publicly quoted shell company with no assets, no operating business or other source of income and liabilities in excess of $590,000.   Merger of Concord   In order for Concord to re-domicile in the State of Delaware from the State of Colorado, on September 29, 2010, Concord entered into an Agreement and Plan of Merger ("the Merger Agreement") with one of its wholly owned subsidiary companies, CCVG, Inc. ("CCVG"). Under the terms of the Merger Agreement, Concord shares of common stock converted automatically to CCVG shares, without change or necessity to reissue. Also under the Merger Agreement, CCVG became the surviving company domiciled in Delaware.   Reorganization into a Holding Company Structure   Effective December 31, 2010, pursuant to the Delaware Holding Company formation statute, under Delaware General Corporate Law (DGCL) Section 251(g), CCVG completed an Agreement and Plan of Merger and Reorganization into a Holding Company ("the Reorganization") with CCAPS, Inc. ("CCAPS") and Golden Dragon, both wholly-owned subsidiaries of CCVG. The Reorganization provided for the merger of CCVG with and into CCAPS, with CCAPS being the surviving corporation in that merger. Contemporaneously with CCVG's merger with and into CCAPS, the shareholders of CCVG were converted into shareholders of Golden Dragon on a one share for one share basis.   As a result of this reorganization into a Holding Company structure, Golden Dragon became the surviving publicly quoted parent holding company with CCAPS, the surviving corporation of the merger between CCVG and CCAPS, becoming the sole remaining wholly-owned subsidiary of Golden Dragon.   The Reorganization has been accounted for so as to reflect the fact that both CCVG and Golden Dragon were under common control at the date of the Reorganization, similar to a reverse acquisition of CCVG and its subsidiary company, CCAPS, by Golden Dragon.   Sale of CCAPS   On December 31, 2010, Golden Dragon entered into a Share Purchase Agreement with an unrelated third party. Under the terms of the Share Purchase Agreement, Golden Dragon sold 100% of the issued and outstanding shares of its sole remaining wholly owned subsidiary, CCAPS for $100 cash consideration, subject to its debts, and issued 25,000 restricted shares of Golden Dragon common stock, valued at $1,000, to CCAPS pursuant to the terms of the Share Purchase Agreement. At the time of the sale, CCAPS had no ongoing operations or assets and outstanding liabilities of approximately $678,000.   Following the merger of CCVG with and into CCAPS, CCAPS, as the surviving corporation in that merger, retained all outstanding liabilities of CCVG in the divestiture.   As a result of the sale of 100% of the issued and outstanding shares of CCAPS, Golden Dragon, the surviving publicly quoted holding company, will no longer consolidate the liabilities of CCAPS or CCVG.   Basis of Presentation:   The accompanying unaudited financial statements of Golden Dragon 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. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three and six months ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ended December 31, 2011. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2010 included in our Form 10-K filed with the SEC.   Significant Accounting Policies:   Use of Estimates -- The preparation of our consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Due to uncertainties inherent in the estimation process, it is possible that these estimates could be materially revised within the next year.   Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and highly liquid debt instruments with original maturities of less than three months.   Property and Equipment -- We owned no property and equipment during the six month periods ended June 30, 2011 or 2011 and consequently we recorded no depreciation expense during the six month period ended June 30, 2011 or 2010.   Deferred Costs and Other -- Offering costs with respect to issue of common stock, warrants or options by us were initially deferred and ultimately offset against the proceeds from these equity transactions if successful or expensed if the proposed equity transaction is unsuccessful. We had no deferred costs and other as at June 30, 2011 or at December 31, 2010.   Impairment of Long-Lived and Intangible Assets -- In the event that facts and circumstances indicated that the cost of long-lived and intangible assets may be impaired, an evaluation of recoverability was performed. If an evaluation was required, the estimated future undiscounted cash flows associated with the asset were compared to the asset's carrying amount to determine if a write-down to market value or discounted cash flow value was required.   Financial Instruments -- The estimated fair values for financial instruments was determined at discrete points in time based on relevant market information. These estimates involved uncertainties and could not be determined with precision. The carrying amounts of notes receivable, accounts receivable, accounts payable and accrued liabilities approximated fair value because of the short-term maturities of these instruments. The fair value of notes payable approximated to their carrying value as generally their interest rates reflected our effective annual borrowing rate.   Income Taxes -- We account for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.   Advertising costs -- Advertising costs are expensed as incurred. No advertising costs were incurred during the six month periods ended June 30, 2011 or 2010.   Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. From our inception there were no differences between our comprehensive loss and net loss.   Our comprehensive loss was identical to our net loss for the six month periods ended June 30, 2011 and 2010.   Income (Loss) Per Share -- Income (loss) per share is presented in accordance with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which requires the presentation of both basic and diluted earnings per share ("EPS") on the consolidated income statements. Basic EPS would exclude any dilutive effects of options, warrants and convertible securities but does include the restricted shares of common stock issued. Diluted EPS would reflect the potential dilution that would occur if securities of other contracts to issue common stock were exercised or converted to common stock. Basic EPS calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted EPS calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding.   Basic and diluted EPS were identical for the three and six month periods ended June 30, 2011 and 2010 as we had no stock options or warrants outstanding during these periods.   Stock-Based Compensation -- We have adopted ASC Topic 718, "Accounting for Stock-Based Compensation," which establishes a fair value method of accounting for stock-based compensation plans. In accordance with guidance now incorporated in ASC Topic 718, the cost of stock options and warrants issued to employees and non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which we expect to receive the benefit, which is generally the vesting period. The fair value of stock warrants was determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield.   No stock based compensation was issued or outstanding during the six month periods ending June 30, 2011 and 2010.   Business Segments -- We believe that our activities during the six month periods ended June 30, 2011 and 2010 comprised a single segment.   Recently Issued Accounting Pronouncements-- We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of our operations. </div> </div>

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<div> <div> 11.       SUBSEQUENT EVENTS   We have evaluated subsequent events through July 15, 2011. Other than those set out above, there have been no subsequent events after June 30, 2011 for which disclosure is required. </div> </div>

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Document Fiscal Period Focus Document Fiscal Year Focus Document Period End Date Document Type Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Filer Category Entity Registrant Name Accounts Payable, Current Accounts Payable Accrued Liabilities, Current Accrued Expenses Additional Paid in Capital Additional Paid In Capital Assets TOTAL ASSETS ASSETS Assets, Current Total Current Assets Assets, Current [Abstract] CURRENT ASSETS Cash and Cash Equivalents, at Carrying Value Cash and Cash Equivalents Commitments and Contingencies COMMITMENTS AND CONTINGENCIES (Note. 7) Common Stock, Value, Issued Class A Common Stock; $0.0001 par value, 100,000,000, shares authorized as at June 30, 2011 and December 31, 2010, 2,384,407 shares issued and outstanding as at June 30, 2011 and December 31, 2010 Due to Related Parties, Current Related Party Loan Liabilities and Equity TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) / EQUITY Liabilities and Equity [Abstract] LIABILITIES AND STOCKHOLDERS' (DEFICIT) / EQUITY Liabilities, Current Total Current Liabilities Liabilities, Current [Abstract] CURRENT LIABILITIES Preferred Stock, Value, Issued Preferred Stock; $0.0001 par value, 10,000,000 shares authorized no shares issued and outstanding Retained Earnings (Accumulated Deficit) Accumulated Deficit BALANCE SHEETS [Abstract] Stockholders' Equity Attributable to Parent Total Stockholders' (Deficit) / Equity Stockholders' Equity Attributable to Parent [Abstract] STOCKHOLDERS' DEFICIT Common Stock, Par or Stated Value Per Share Class A Common Stock, par value per share Common Stock, Shares Authorized Class A Common Stock, shares authorized Common Stock, Shares, Issued Class A Common Stock, shares issued Common Stock, Shares, Outstanding Class A Common Stock, shares outstanding Preferred Stock, Par or Stated Value Per Share Preferred Stock, par value per share Preferred Stock, Shares Authorized Preferred Stock, shares authorized Preferred Stock, Shares Issued Preferred Stock, shares issued Preferred Stock, Shares Outstanding Preferred Stock, shares outstanding Earnings Per Share [Abstract] NET PROFIT / (LOSS) PER COMMON SHARE Earnings Per Share, Basic and Diluted Basic and Diluted General and Administrative Expense General and Administrative Expenses Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest Profit / (Loss) before Income Taxes STATEMENTS OF OPERATIONS [Abstract] Income Tax Expense (Benefit) Provision for Income Taxes NET PROFIT / (LOSS) Nonoperating Income (Expense) Interest and Other Income / (Expenses) Net Operating Expenses Total Operating Expenses / (Income) Operating Income (Loss) OPERATING PROFIT / (LOSS) Operating Income (Loss) [Abstract] OPERATING EXPENSES / (INCOME) Weighted Average Number of Shares Outstanding, Basic [Abstract] WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Weighted Average Number Of Shares Outstanding Basic And Diluted Duration Basic and Diluted The durational disclosure of the average number of shares or units issued and outstanding that are used in calculating basic and diluted EPS. Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] ADJUSTMENTS TO RECONCILE NET PROFIT / (LOSS) TO NET CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES Cash and Cash Equivalents at the beginning of the period Cash and Cash Equivalents at the end of the period Cash and Cash Equivalents, Period Increase (Decrease) INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS Income Taxes Paid Cash paid for income tax Increase (Decrease) in Accounts Payable Increase / (decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Increase / (decrease) in Accrued Expenses Increase (Decrease) in Operating Capital [Abstract] CHANGES IN OPERATING ASSETS AND LIABILITIES Interest Paid Cash paid for interest Net Cash Provided by (Used in) Financing Activities Total Cash Flow provided by / (used in) Financing Activities Net Cash Provided by (Used in) Financing Activities [Abstract] CASH FLOW FROM FINANCING ACTIVITIES Net Cash Provided by (Used in) Investing Activities Total Cash Flow provided by / (used in) Investing Activities Net Cash Provided by (Used in) Investing Activities [Abstract] CASH FLOW FROM INVESTING ACTIVITIES Net Cash Provided by (Used in) Operating Activities Total Cash Flow provided by / (used in) Operating Activities Net Cash Provided by (Used in) Operating Activities [Abstract] CASH FLOW PROVIDED BY / (USED IN) OPERATING ACTIVITIES Net Income (Loss) Attributable to Parent NET PROFIT / (LOSS) Proceeds from (Repayments of) Related Party Debt Increase in Related Party Loan STATEMENT OF CASH FLOWS [Abstract] Supplemental Cash Flow Information [Abstract] SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract] Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES GOING CONCERN AND LIQUIDITY [Abstract] GOING CONCERN AND LIQUIDITY [Abstract]. Going Concern And Liquidity [Text Block] GOING CONCERN AND LIQUIDITY If there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date), disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. ASSETS [Abstract] Assets Disclosure Text Block ASSETS The entire dislcosure for assets. 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Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2011	Jul. 15, 2011
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2011
Entity Registrant Name	GOLDEN DRAGON HOLDING CO.
Entity Central Index Key	0001081938
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,384,407

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ACCRUED EXPENSES	6 Months Ended
ACCRUED EXPENSES	Jun. 30, 2011
ACCRUED EXPENSES [Abstract]
ACCRUED EXPENSES	5. ACCRUED EXPENSES As at June 30, 2011, the balance of accrued expenses represents interest payable on our related party loan (See Note 6.). Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accrued expenses outstanding as at December 31, 2010.

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RELATED PARTY LOAN	6 Months Ended
RELATED PARTY LOAN	Jun. 30, 2011
RELATED PARTY LOAN [Abstract]
RELATED PARTY LOAN	6. RELATED PARTY LOAN As at June 30, 2011, the related party loan represents a loan made to us by Mr. David J. Cutler, our sole officer, a director and majority shareholder. The loan is repayable on demand and at June 30, 2011, the principal balance owed was $37,550 with accrued interest of $564. Interest is accrued on the loan at 8%. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no related party loan outstanding as at December 31, 2010.

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COMMITMENTS	6 Months Ended
COMMITMENTS	Jun. 30, 2011
COMMITMENTS [Abstract]
COMMITMENTS	7. COMMITMENTS: Capital and Operating Leases We had no capital or operating leases outstanding as at June 30, 2011. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no capital or operating leases outstanding as at December 31, 2010. Litigation No legal proceedings are currently pending or threatened to the best of our knowledge.

- Definition

The entire disclosure for commitments and contingencies.

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RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2011
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	8. RELATED PARTY TRANSACTIONS As at June 30, 2011, we owed Mr. Cutler, our sole officer, a director and majority shareholder, $37,550 and accrued interest of $564.

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The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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STOCKHOLDERS' DEFICIT	6 Months Ended
STOCKHOLDERS' DEFICIT	Jun. 30, 2011
STOCKHOLDERS' DEFICIT [Abstract]
STOCKHOLDERS' DEFICIT	9. STOCKHOLDERS' DEFICIT: Preferred Stock We were authorized, without further action by the shareholders, to issue 10,000,000 shares of one or more series of preferred stock at a par value of $0.0001, all of which is nonvoting. The Board of Directors may, without shareholder approval, determine the dividend rates, redemption prices, preferences on liquidation or dissolution, conversion rights, voting rights and any other preferences. No shares of preferred stock were issued or outstanding at June 30, 2011. Common Stock We were authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share. On April 29, 2008, we held our annual meeting of stockholders at which meeting the majority of stockholders approved, an up to 3 for 1 reverse split of our shares of common stock. No such reverse split has been effected as yet. Recent Issuances No shares of our common stock were issued in the six month periods ended June 30, 2011 or 2010. Warrants No warrants were issued or outstanding during the six month periods ended June 30, 2011 or 2010. Stock Options Effective March 19, 1999, we adopted a stock option plan (the "Plan"). The Plan provides for grants of incentive stock options, nonqualified stock options and restricted stock to designated employees, officers, directors, advisors and independent contractors. The Plan authorized the issuance of up to 75,000 shares of Class A Common Stock. Under the Plan, the exercise price per share of a non-qualified stock option must be equal to at least 50% of the fair market value of the common stock at the grant date, and the exercise price per share of an incentive stock option must equal the fair market value of the common stock at the grant date. No stock options were issued or outstanding during the six month periods ended June 30, 2011. During the year ended December 31, 2009, the 2,000 remaining stock options outstanding under the plan expired.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Glossary Preferred Stock
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
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INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2011
INCOME TAXES [Abstract]
INCOME TAXES	10. INCOME TAXES We have had losses since our Inception, and therefore are not subject to federal or state income taxes. We have accumulated tax losses available for carryforward in excess $16 million. The carryforward is subject to examination by the tax authorities and expires at various dates through the year 2022. The Tax Reform Act of 1986 contains provisions that may limit the NOL carryforwards available for use in any given year upon the occurrence of certain events, including significant changes in ownership interest. Consequently following the issue more than 50% of our total authorized and issued share capital in September 2006 to Mr. Cutler, one of our directors, our ability to use these losses is substantially restricted by the impact of section 382 of the Internal Revenue Code.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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-Topic 740
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-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
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-Article 4

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SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2011
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS We have evaluated subsequent events through July 15, 2011. Other than those set out above, there have been no subsequent events after June 30, 2011 for which disclosure is required.

XML 19 R2.htm IDEA: XBRL DOCUMENT

BALANCE SHEETS (USD $)	Jun. 30, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and Cash Equivalents		$ 100
Total Current Assets		100
TOTAL ASSETS		100
CURRENT LIABILITIES
Accounts Payable	13,034
Accrued Expenses	564
Related Party Loan	37,550
Total Current Liabilities	51,148
COMMITMENTS AND CONTINGENCIES (Note. 7)
STOCKHOLDERS' DEFICIT
Preferred Stock; $0.0001 par value, 10,000,000 shares authorized no shares issued and outstanding
Class A Common Stock; $0.0001 par value, 100,000,000, shares authorized as at June 30, 2011 and December 31, 2010, 2,384,407 shares issued and outstanding as at June 30, 2011 and December 31, 2010	239	239
Additional Paid In Capital	16,874,642	16,874,642
Accumulated Deficit	(16,926,029)	(16,874,781)
Total Stockholders' (Deficit) / Equity	(51,148)	100
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) / EQUITY		$ 100

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BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2011	Dec. 31, 2010
BALANCE SHEETS [Abstract]
Preferred Stock, par value per share	$ 0.0001	$ 0.0001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A Common Stock, par value per share	$ 0.0001	$ 0.0001
Class A Common Stock, shares authorized	100,000,000	100,000,000
Class A Common Stock, shares issued	2,384,407	2,384,407
Class A Common Stock, shares outstanding	2,384,407	2,384,407

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

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STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS (USD $)	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
OPERATING EXPENSES / (INCOME)
General and Administrative Expenses	$ 35,206	$ 25,558	$ 50,684	$ 39,813
Total Operating Expenses / (Income)	35,206	25,558	50,684	39,813
OPERATING PROFIT / (LOSS)	(35,206)	(25,558)	(50,684)	(39,813)
Interest and Other Income / (Expenses) Net	(466)	(2,390)	(564)	(4,457)
Profit / (Loss) before Income Taxes	(35,672)	(27,948)	(51,248)	(44,270)
Provision for Income Taxes
NET PROFIT / (LOSS)	$ (35,672)	$ (27,948)	$ (51,248)	$ (44,270)
NET PROFIT / (LOSS) PER COMMON SHARE
Basic and Diluted	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic and Diluted	2,384,407	2,359,407	2,384,407	2,359,407

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STATEMENT OF CASH FLOWS (USD $)	6 Months Ended
STATEMENT OF CASH FLOWS (USD $)	Jun. 30, 2011	Jun. 30, 2010
CASH FLOW PROVIDED BY / (USED IN) OPERATING ACTIVITIES
NET PROFIT / (LOSS)	$ (51,248)	$ (44,270)
CHANGES IN OPERATING ASSETS AND LIABILITIES
Increase / (decrease) in Accounts Payable	13,034	9,812
Increase / (decrease) in Accrued Expenses	564	4,458
Total Cash Flow provided by / (used in) Operating Activities	(37,650)	(30,000)
CASH FLOW FROM INVESTING ACTIVITIES
Total Cash Flow provided by / (used in) Investing Activities
CASH FLOW FROM FINANCING ACTIVITIES
Increase in Related Party Loan	37,550	30,000
Total Cash Flow provided by / (used in) Financing Activities	37,550	30,000
INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS	(100)
Cash and Cash Equivalents at the beginning of the period	100
Cash and Cash Equivalents at the end of the period
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION
Cash paid for interest
Cash paid for income tax

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NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2011
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES	1. NATURE OF OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES: Nature of Operations Business Golden Dragon Holding Co. ("Golden Dragon") is a publicly quoted shell company seeking to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. No potential merger candidate has been identified at this time. History Golden Dragon was incorporated in the State of Delaware in April 2010 as a wholly owned subsidiary of Concord Ventures, Inc. ("Concord"). Concord was a publicly quoted shell company with no assets, no operating business or other source of income and liabilities in excess of $590,000. Merger of Concord In order for Concord to re-domicile in the State of Delaware from the State of Colorado, on September 29, 2010, Concord entered into an Agreement and Plan of Merger ("the Merger Agreement") with one of its wholly owned subsidiary companies, CCVG, Inc. ("CCVG"). Under the terms of the Merger Agreement, Concord shares of common stock converted automatically to CCVG shares, without change or necessity to reissue. Also under the Merger Agreement, CCVG became the surviving company domiciled in Delaware. Reorganization into a Holding Company Structure Effective December 31, 2010, pursuant to the Delaware Holding Company formation statute, under Delaware General Corporate Law (DGCL) Section 251(g), CCVG completed an Agreement and Plan of Merger and Reorganization into a Holding Company ("the Reorganization") with CCAPS, Inc. ("CCAPS") and Golden Dragon, both wholly-owned subsidiaries of CCVG. The Reorganization provided for the merger of CCVG with and into CCAPS, with CCAPS being the surviving corporation in that merger. Contemporaneously with CCVG's merger with and into CCAPS, the shareholders of CCVG were converted into shareholders of Golden Dragon on a one share for one share basis. As a result of this reorganization into a Holding Company structure, Golden Dragon became the surviving publicly quoted parent holding company with CCAPS, the surviving corporation of the merger between CCVG and CCAPS, becoming the sole remaining wholly-owned subsidiary of Golden Dragon. The Reorganization has been accounted for so as to reflect the fact that both CCVG and Golden Dragon were under common control at the date of the Reorganization, similar to a reverse acquisition of CCVG and its subsidiary company, CCAPS, by Golden Dragon. Sale of CCAPS On December 31, 2010, Golden Dragon entered into a Share Purchase Agreement with an unrelated third party. Under the terms of the Share Purchase Agreement, Golden Dragon sold 100% of the issued and outstanding shares of its sole remaining wholly owned subsidiary, CCAPS for $100 cash consideration, subject to its debts, and issued 25,000 restricted shares of Golden Dragon common stock, valued at $1,000, to CCAPS pursuant to the terms of the Share Purchase Agreement. At the time of the sale, CCAPS had no ongoing operations or assets and outstanding liabilities of approximately $678,000. Following the merger of CCVG with and into CCAPS, CCAPS, as the surviving corporation in that merger, retained all outstanding liabilities of CCVG in the divestiture. As a result of the sale of 100% of the issued and outstanding shares of CCAPS, Golden Dragon, the surviving publicly quoted holding company, will no longer consolidate the liabilities of CCAPS or CCVG. Basis of Presentation: The accompanying unaudited financial statements of Golden Dragon 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. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In our opinion the financial statements include all adjustments (consisting of normal recurring accruals) necessary in order to make the financial statements not misleading. Operating results for the three and six months ended June 30, 2011 are not necessarily indicative of the results that may be expected for the year ended December 31, 2011. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2010 included in our Form 10-K filed with the SEC. Significant Accounting Policies: Use of Estimates -- The preparation of our consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Due to uncertainties inherent in the estimation process, it is possible that these estimates could be materially revised within the next year. Cash and Cash Equivalents -- Cash and cash equivalents consist of cash and highly liquid debt instruments with original maturities of less than three months. Property and Equipment -- We owned no property and equipment during the six month periods ended June 30, 2011 or 2011 and consequently we recorded no depreciation expense during the six month period ended June 30, 2011 or 2010. Deferred Costs and Other -- Offering costs with respect to issue of common stock, warrants or options by us were initially deferred and ultimately offset against the proceeds from these equity transactions if successful or expensed if the proposed equity transaction is unsuccessful. We had no deferred costs and other as at June 30, 2011 or at December 31, 2010. Impairment of Long-Lived and Intangible Assets -- In the event that facts and circumstances indicated that the cost of long-lived and intangible assets may be impaired, an evaluation of recoverability was performed. If an evaluation was required, the estimated future undiscounted cash flows associated with the asset were compared to the asset's carrying amount to determine if a write-down to market value or discounted cash flow value was required. Financial Instruments -- The estimated fair values for financial instruments was determined at discrete points in time based on relevant market information. These estimates involved uncertainties and could not be determined with precision. The carrying amounts of notes receivable, accounts receivable, accounts payable and accrued liabilities approximated fair value because of the short-term maturities of these instruments. The fair value of notes payable approximated to their carrying value as generally their interest rates reflected our effective annual borrowing rate. Income Taxes -- We account for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Advertising costs -- Advertising costs are expensed as incurred. No advertising costs were incurred during the six month periods ended June 30, 2011 or 2010. Comprehensive Income (Loss) -- Comprehensive income is defined as all changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilities that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. From our inception there were no differences between our comprehensive loss and net loss. Our comprehensive loss was identical to our net loss for the six month periods ended June 30, 2011 and 2010. Income (Loss) Per Share -- Income (loss) per share is presented in accordance with Accounting Standards Update ("ASU"), Earning Per Share (Topic 260) which requires the presentation of both basic and diluted earnings per share ("EPS") on the consolidated income statements. Basic EPS would exclude any dilutive effects of options, warrants and convertible securities but does include the restricted shares of common stock issued. Diluted EPS would reflect the potential dilution that would occur if securities of other contracts to issue common stock were exercised or converted to common stock. Basic EPS calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted EPS calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. Basic and diluted EPS were identical for the three and six month periods ended June 30, 2011 and 2010 as we had no stock options or warrants outstanding during these periods. Stock-Based Compensation -- We have adopted ASC Topic 718, "Accounting for Stock-Based Compensation," which establishes a fair value method of accounting for stock-based compensation plans. In accordance with guidance now incorporated in ASC Topic 718, the cost of stock options and warrants issued to employees and non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which we expect to receive the benefit, which is generally the vesting period. The fair value of stock warrants was determined at the date of grant using the Black-Scholes option pricing model. The Black-Scholes option model requires management to make various estimates and assumptions, including expected term, expected volatility, risk-free rate, and dividend yield. No stock based compensation was issued or outstanding during the six month periods ending June 30, 2011 and 2010. Business Segments -- We believe that our activities during the six month periods ended June 30, 2011 and 2010 comprised a single segment. Recently Issued Accounting Pronouncements-- We have reviewed all recently issued, but not yet effective, accounting pronouncements and do not believe the future adoption of any such pronouncements may be expected to cause a material impact on our financial condition or the results of our operations.

XML 24 R7.htm IDEA: XBRL DOCUMENT

GOING CONCERN AND LIQUIDITY	6 Months Ended
GOING CONCERN AND LIQUIDITY	Jun. 30, 2011
GOING CONCERN AND LIQUIDITY [Abstract]
GOING CONCERN AND LIQUIDITY	2. GOING CONCERN AND LIQUIDITY: At June 30, 2011, we no assets, no operating business or other source of income, outstanding liabilities and stockholders' deficit both totaling $51,148. In our financial statements for the fiscal years ended December 31, 2010 and 2009, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about our ability to continue as a going concern. Our unaudited financial statements for the six month periods ended June 30, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. We had a working capital deficit of $51,148 and reported an accumulated deficit of $16,926,029 as at June 30, 2011. It is our current intention to seek to raise debt and, or, equity financing to fund our ongoing operating expenses and attempt to create value for our shareholders by merging with another entity with experienced management and opportunities for growth in return for shares of our common stock. There is no assurance that this series of events will be satisfactorily completed.

XML 25 R8.htm IDEA: XBRL DOCUMENT

ASSETS	6 Months Ended
ASSETS	Jun. 30, 2011
ASSETS [Abstract]
ASSETS	3. ASSETS We had no assets as at June 30, 2011. As at December 31, 2010, our sole asset was Cash and Cash Equivalents of $100 relating to the sales consideration arising from the sale of our subsidiary company, CCAPS.

XML 26 R9.htm IDEA: XBRL DOCUMENT

ACCOUNTS PAYABLE	6 Months Ended
ACCOUNTS PAYABLE	Jun. 30, 2011
ACCOUNTS PAYABLE [Abstract]
ACCOUNTS PAYABLE	4. ACCOUNTS PAYABLE As at June 30, 2011, the balance of accounts payable represents legal fees payable. Following the sale of all of our subsidiary company, CCAPS, effective December 31, 2010, we had no accounts payable outstanding as at December 31, 2010.

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