10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2014

or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to ________________

Commission file number: 000-50196

CNK GLOBAL INC.

(Exact name of registrant as specified in its charter)

Florida	52-2177342
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

16 Okin Dong Cheongro Gu

Seoul, South Korea

(Address of principal executive offices)

8210-9406-8116

(Registrant’s telephone number, including area code)

_____________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

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 preceding 12 months (or for such shorter period that the registrant was require to file such reports), and (2) has been subject to such 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 (§232.405 of this chapter) during the preceding 12 months (of 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 filer, 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 [  ] 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 [  ]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act subsequent to the distribution of securities under a plan confirmed by a court. Yes [  ] No [  ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of August 14, 2014 the registrant’s outstanding common stock consisted of 47,391,449 shares.

Table of Contents

PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	9
Item 4.	Controls and Procedures	9
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	10
Item 1A.	Risk Factors	10
Item 2.	Unregistered Sales of Equity Securities	10
Item 3.	Defaults Upon Senior Securities	10
Item 4.	Mine Safety Disclosures	10
Item 5.	Other Information	10
Item 6.	Exhibits	10
SIGNATURES		11

2

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CNK Global Inc.

Financial Statements as of June 30, 2014

Financial Statement Index

Balance Sheets	F–1
Statements of Operations	F–2
Statement of Changes in Stockholders’ Deficit	F–3
Statements of Cash Flows	F–4
Notes to Financial Statements	F–5

3

CNK Global Inc.

Balance Sheets

June 30, 2014 (unaudited) and December 31, 2013

	June 30, 2014			December 31, 2013
ASSETS
Current assets
Cash in Trust account	$	2,155		$	1,669
Total current assets		2,155			1,669
TOTAL ASSETS	$	2,155		$	1,669
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable	$	24,112		$	6,083
Due to stockholder		103,732			89,753
Total current liabilities		127,844			95,836
Stockholders’ deficit
Common stock, $.001 Par Value, 100,000,000 shares authorized, 47,391,449 shares outstanding		47,392			47,392
Additional paid-in capital		3,284,909			3,284,909
Accumulated deficit		(3,457,990	)		(3,426,468	)
Total stockholders’ deficit		(125,689	)		(94,167	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	2,155		$	1,669

The accompanying notes are an integral part of the financial statements.

F-1

CNK Global Inc.

Statements of Operations

For the Three and Six Months ended June 30, 2014 and 2013

(both unaudited)

	Three months ended						Six months ended
	June 30,						June 30,
	2014			2013			2014			2013
Income	$	-		$	-		$	-		$	-
Expenses:
General & administrative expense		9,160			5,034			31,222			14,941
Interest		300			174			300			174
Consulting fees					-						-
Total operating expenses		9,460			5,208			31,522			15,115
Net loss	$	(9,460	)	$	(5,208	)	$	(31,522	)	$	(15,115	)
Basic and diluted loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average shares outstanding		47,391,449			47,391,449			47,391,449			47,391,449

The accompanying notes are an integral part of the financial statements.

F-2

CNK Global Inc.

Statement of Changes in Stockholders’ Deficit

For the Six Months Ended June 30, 2014

(unaudited)

					Additional
	Common Stock				Paid-in		Accumulated
	Shares		Amount		Capital		Deficit			Total
Balance January 1, 2014		47,391,449	$	47,392	$	3,284,909	$	(3,426,468	)	$	(94,167	)
Net loss six months ending June 30, 2014		-		-		-		(31,522	)		(31,522	)
Balance June 30, 2014		47,391,449	$	47,392	$	3,284,909	$	(3,457,990	)	$	(125,689	)

The accompanying notes are an integral part of the financial statements.

F-3

CNK Global Inc.

Statements of Cash Flows

For the Six Months Ended June 30, 2014 and 2013

(unaudited)

	June 30,
	2014			2013
Net loss	$	(31,522	)	$	(15,115	)
OPERATING ACTIVITIES
(Increase) decrease in trust account		(486	)		430
Increase (decrease) in accounts payable		18,029			7,707
Net cash from operating activities		(13,979	)		(6,978	)
FINANCING ACTIVITIES
Due to stockholder		13,979			6,978
Net cash from financing activities		13,979			6,978
Change in cash and cash equivalents		-			-
Cash and cash equivalents, beginning of the year		-			-
Cash and cash equivalents, end of the year	$	-		$	-

The accompanying notes are an integral part of the financial statements.

F-4

CNK Global Inc.

Notes to Financial Statements

June 30, 2014 & 2013

NOTE 1 – BASIS OF PRESENTATION

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. In the opinion of management all adjustments considered necessary for a fair presentation have been included. As a result of the discontinuation and dissolution of the Company’s subsidiary, the Company currently has no operations and is considered a “shell company” under Federal securities laws. The Company intends to acquire assets or shares of an entity actively engaged in a business generating revenues in exchange for the Company’s securities.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents

The Company considers cash on hand, deposits in banks, certificates of deposit and investments with original maturities of three months or less to be cash and cash equivalents.

Income Taxes

The Company accounts for income taxes under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740 “Income Taxes”. Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Income Per Share

Basic income per share is calculated as income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted income per share is calculated using the “if converted” method for convertible securities and the “treasury stock” method for options and warrants. For the six months ended June 30, 2014 and 2013 all securities convertible into common shares were anti-dilutive.

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Going Concern

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet identified ongoing operations and is considered a “shell” company. The lack of cash, losses, negative working capital, and shareholders deficit raise substantial doubt about its ability to continue as a going concern.

F-5

In order to continue as a going concern, the Company will need, among other things, capital resources. Management plans to identify an industry in which to invest and begin operating within this “shell” company. Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually obtain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the company is unable to continue as a going concern.

NOTE 3 – CASH IN TRUST ACCOUNT

The trust account consists of funds that have been deposited into the corporate attorney’s escrow account to be used for the benefit of paying certain professional fees the Company may incur. These funds have been contributed by the stockholders and have been accounted for as Due to Stockholder.

NOTE 4 – NEW ACCOUNTING PRONOUNCEMENTS

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

NOTE 5 – STATEMENT OF CASH FLOWS SUPPLEMENTARY DISCLOSURE

There was no interest or taxes paid during the six months ended June 30, 2014 and 2013.

NOTE 6 – DISCLOSURE ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of financial instrument for which it is practicable to estimate value. Cash in trust account is carried at cost, which is a reasonable estimate of fair value.

NOTE 7 – INCOME TAXES

Income tax benefit (expense) attributable to income (loss) before income taxes differed from the amounts computed by applying the United States of America federal tax rate of 34% to income (loss) before income taxes as a result of the following:

	2014			2013
Computed expected income tax benefit	$	10,717		$	5,139
Valuation allowance		(10,717	)		(5,139	)
	$	-		$	-

Deferred taxes are determined between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates, which are expected to be in effect when these differences reverse.

Management continuously estimates the realizability of its deferred tax assets based on its assessment of the sufficiency of future revenue streams. Due to the “shell” status of the Company, future revenue streams are uncertain. Additionally, the IRS imposes limitations on the use of loss carry forwards if the Company incurs a change in control.

F-6

 NOTE 8 – UNCERTAIN TAX POSITIONS

The Company has not complied with United States (U.S.) Federal and State tax compliance requirements as it relates to filing Federal and State tax returns, Federal Report of Foreign Bank and Financial Accounts and the Information Return of a 25% Foreign-Owned U.S. Corporation for the years ending December 31, 2013, 2012 and 2011. Penalties for non-compliance may be material.

There are no other known tax positions that, if challenged, would have a material effect on the financial statements for the years ended December 31, 2013 and 2012, or during the prior three years applicable under FASB ASC 740. The Company did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet.

NOTE 9 – DUE TO STOCKHOLDER

This represents advances by the majority stockholder to pay for certain professional fees and administrative expenses on behalf of the Company.

NOTE 10 – STOCKHOLDERS’ EQUITY

The Company’s authorized capital stock consists of 100,000,000 shares of common stock, $.001 par value per share, of which 47,391,449 shares are issued and outstanding and 5,000,000 shares of preferred stock, par value $.001 per share, of which no shares are designated.

The Company has outstanding warrants to employees and non-employees allowing the purchase of stock at a price of $10.00 per share. None of the 49,500 non-employee warrants in 2014 or the 49,500 non-employee warrants in 2013, all of whose exercise price exceeded market value as of the date of the grant, have been exercised.

Information regarding the warrants for the three months ended June 30, 2014 and 2013 is as follows:

	2014				2013
	Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Options/warrants outstanding, beginning of year		49,500	$	10.00		49,500	$	10.00
Options/warrants cancelled				n/a				n/a
Options/warrants exercised		-		n/a		-		n/a
Options/warrants granted		-		n/a		-		n/a
Options/warrants outstanding, June 30		49,500	$	10.00		49,500	$	10.00
Options/warrants exercisable, June 30		49,500	$	10.00		49,500	$	10.00

	2014		2013
Option/warrant price range, June 30	$	10.00	$	10.00
Option/warrant price range, exercised shares		n/a		n/a
Options/warrants available for grant at end of year		-		-
Weighted average fair value of options /warrants granted during the year		n/a		n/a

NOTE 11 – SUBSEQUENT EVENTS

Management has evaluated events and transactions subsequent to the balance sheet date through the date of this filing for potential recognition or disclosure in the financial statements. Management has not identified any items requiring recognition or disclosure.

F-7

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

As used in this quarterly report, the terms “we”, “us” and “our” mean CNK Global Inc., unless otherwise indicated.

Forward Looking Statements

Certain statements in this quarterly report contain forward-looking statements. These statements, identified by words such as “could”, “may”, “will”, “plan”, “anticipate”, “believe”, “estimate”, “should”, “expect” and similar expressions, include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, and U.S. and global competition. Most of these factors are difficult to predict accurately and are generally beyond our control.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this quarterly report, and should carefully review this report in its entirety, including but not limited to our financial statements and the notes thereto, and the reports and documents we file from time to time with the Securities and Exchange Commission (the “SEC”). Except for our ongoing obligations to disclose material information under applicable securities laws, we undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

All dollar amounts in this quarterly report refer to U.S. dollars unless otherwise indicated.

Business Overview

Historically and through the fourth quarter of the fiscal year ended December 31, 2007, our operations consisted of those of our dissolved former subsidiary, The American LAC, Inc. (“American LAC”), an Arizona corporation. On September 10, 2008 we dissolved American LAC, and we are now considered a “shell company” under applicable securities laws. On April 16, 2012, we changed our name from American Life Holding Company, Inc. to CNK Global Inc. by filing Articles of Amendment with the Florida Department of State.

We intend to seek to acquire assets or shares of an entity actively engaged in business which generates revenues in exchange for our securities. We will not restrict our search to any specific business, industry or geographical location and we may participate in a business venture of virtually any kind or nature. However, our intention is to engage in the development of mineral resources in an undefined geographic area.

At the moment, we have nominal assets and limited financial resources and our management anticipates that we may only be able to participate in one potential business venture. This lack of diversification should be considered a substantial risk because it will not permit us to offset potential losses from one venture against gains from another.

4

We may seek a business opportunity with entities that have only recently commenced operations, or that wish to use the public marketplace in order to raise additional capital to expand their business 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 anticipate that the selection of a business opportunity in which to participate will be complex and extremely risky. Due to general economic conditions, rapid technological advances being made in some industries and shortages of available capital, we believes that there are numerous firms seeking the perceived benefits of a publicly registered company. These perceived 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 for all shareholders 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 the analysis of such business opportunities extremely difficult and complex.

The analysis of new business opportunities will be undertaken by, or under the supervision of, Deukgyun Oh, our President, Chief Executive Officer, Secretary, Treasurer and director, and Rakgu Kim, our Chief Financial Officer and director, neither of whom are professional business analysts. Mr. Oh will be the key person involved in searching, reviewing and negotiating with potential acquisition or combination candidates. We intend to concentrate on identifying preliminary prospective business opportunities through the contacts of our officers, directors and legal counsel or by our shareholders. In analyzing prospective candidates, we will consider such matters as their:

● available technical, financial and managerial resources;

● working capital and other financial requirements;

● history of operations, if any;

● prospects for the future;

● nature of present and expected competition;

● quality and experience of management services which may be available and the depth of that management;

● potential for further research, development or exploration;

● specific risk factors not now foreseeable but which may be anticipated to impact our proposed activities;

● potential for growth or expansion;

● potential for profit;

● perceived public recognition of acceptance of products, services or trades;

● name identification; and

● other relevant factors.

5

We will not restrict our search to any specific kind of company, but may acquire a venture that is in its preliminary or development stage, that is already in operation, or in essentially any stage of its corporate life. It is impossible to predict at this time the status of any business in which we may become engaged, in that such a business may need to seek additional capital, may desire to have its shares publicly traded, or may seek other perceived advantages which we may offer. Until such time as we have successfully consummated such an acquisition, we anticipate that we will incur nominal expenses in implementing our business plan which will be funded from our current working capital, to the extent available, or from borrowings from related parties or others.

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 corporation or entity. We may also acquire stock or assets of an existing business. Upon the consummation of a transaction, it is probable that our present management and shareholders will no longer control us. In addition, our directors may, as part of the terms of the acquisition transaction, resign and be replaced by new directors without a vote of our shareholders or may sell their stock. Any terms of sale of the shares presently held by our officers and directors will be also afforded to all other shareholders on similar terms and conditions. Any and all such sales will only be made in compliance with applicable securities laws.

We anticipate that any securities issued in any such transaction would be issued in reliance upon one or more exemptions from registration under applicable securities laws. In some circumstances, however, as a negotiated element of a 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, of which there can be no assurance, it will be undertaken by the surviving entity after we have successfully consummated the acquisition and we are no longer considered a “shell company”. Until such time as this occurs, we will not attempt to register any additional securities. 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, if such a market develops.

Results of Operations

The following discussion should be read in conjunction with our unaudited financial statements, including the notes thereto, appearing elsewhere in this quarterly report. The discussions of results, causes and trends should not be construed to imply any conclusion that these results or trends will necessarily continue into the future.

Revenues

Since we are considered a “shell company” under applicable securities laws, we did not generate any revenues during the three months ended June 30, 2014 or 2013. We anticipate that we will incur substantial losses for the foreseeable future and our ability to generate any revenues during the next 12 months is uncertain.

6

Expenses

During the three months ended June 30, 2014 we incurred total expenses of $9,460, including $9,160 in general and administrative expenses and $300 in interest expenses. During the same period in 2013 we incurred total expenses of $5,208, including $5,034 in general and administrative expenses and $174 in interest expenses. Our general and administrative expenses consist primarily of fees for audit, legal, transfer agent and edgarization services, all of which are associated with our reporting requirements under applicable securities laws, and fees associated with our search for a suitable candidate for a business combination.

During the six months ended June 30, 2014 we incurred total expenses of $31,522, including $31,222 in general and administrative expenses and $300 in interest expenses. During the same period in 2013 we incurred total expenses of $15,115, including $14,941 in general and administrative expenses and $174 in interest expenses. The $16,407 difference in our expenses between the two periods was primarily due to a significant increase in our audit fees for the most recent fiscal year.

Net Loss

During the three months ended June 30, 2014 we incurred a net loss of $9,460, whereas we incurred a net loss of $5,208 during the three months ended June 30, 2013. We did not experience any net loss per share during either of these periods.

During the six months ended June 30, 2014 we incurred a net loss of $31,522, whereas we incurred a net loss of $15,115 during the six months ended June 30, 2013. We also did not experience any net loss per share during either of those periods.

Liquidity and Capital Resources

Liquidity is the ability of a company to generate funds to support its current and future operations, satisfy its obligations and otherwise operate on an ongoing basis. As of June 30, 2014 we had $2,155 in cash and total assets, $127,844 in total liabilities, a working capital deficit of $125,689 and an accumulated deficit of $3,457,990.

During the six months ended June 30, 2014 we spent $13,979 on operating activities, our trust account balance increased by $486 and our accounts payable increased by $18,029. During the six months ended June 30, 2013 we spent $6,978 on operating activities, our trust account balance decreased by $430 and our accounts payable increased by $7,707. The majority of our spending on operating activities during the six months ended June 30, 2014 was attributable to costs associated with our reporting obligations under applicable securities laws and our search for a suitable candidate for a business combination, as was the case for the same period in 2013.

We did not incur any expenditures on investing activities during the six months ended June 30, 2014 or 2013.

During the six months ended June 30, 2014 we received $13,979 from financing activities, all of which was in the form of shareholder loans. During the six months ended June 30, 2013, we received $6,978 from financing activities, all of which was also in the form of shareholder loans.

During the six months ended June 30, 2014 our cash position did not change. However, the amount held in trust on our behalf by our professional advisors increased by $486.

7

Our plans for the next 12 months are uncertain due to our current financial condition. However, based on our expenses for the past two fiscal years we anticipate that we will spend approximately $40,000 on general and administrative expenses. Our general and administrative expenses for the year will consist primarily fees for audit, legal, transfer agent and edgarization services, all of which are associated with our reporting requirements under applicable securities laws, and fees associated with our search for a suitable candidate for a business combination.

We intend to raise the balance of our cash requirements for the next 12 months from private placements, loans from related parties or possibly a registered public offering (either self-underwritten or through a broker-dealer). If we are unsuccessful in raising enough money through such efforts, we may review other financing possibilities such as bank loans. At this time we do not have a commitment from any broker-dealer to provide us with financing. There is no assurance that any financing will be available to us or if available, on terms that will be acceptable to us. In the absence of such financing, we may not be able to complete a business acquisition and we may be forced to cease our limited operations.

We also hope to obtain financing as part of any business acquisition agreement that we may ultimately negotiate. However, there is no guarantee that we will enter into a definitive acquisition agreement, and if we successfully complete an acquisition our capital requirements and business plans may change substantially.

Going Concern

Our financial statements for the period ended June 30, 2014 have been prepared on a going concern basis and contain an explanatory paragraph in Note 2 of the notes to our financial statements which identifies issues that raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Our ability to continue as a going concern is dependent on our ability to identify and complete a business combination with an operating entity. We have not yet identified any such opportunities, and we cannot assure you that we will be able to identify any appropriate business opportunities, or, if identified, that we will be able to close a transaction which is beneficial to our shareholders. In addition, it is possible that if we enter into a business combination the structure of the transaction will not require the approval of our shareholders, and our shareholders may be forced to rely entirely upon the judgment of our management in structuring a transaction which provides some benefit to them.

We have not generated any revenues, have incurred net losses and have relied on shareholder advances to fund our operations during our two most recent fiscal years. We may not generate any revenues even if we successfully locate a suitable candidate for a business combination and complete the acquisition of its assets or shares in exchange for our securities.

If our operations and cash flow improve, management believes that we can continue to operate. However, no assurance can be given that management’s actions will result in profitable operations or an improvement in our liquidity situation. The threat of our ability to continue as a going concern will cease to exist only when our revenues have reached a level able to sustain our business operations.

8

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

Critical Accounting Policies

Our financial statements are affected by the accounting policies used and the estimates and assumptions made by management during their preparation. A complete summary of these policies is included in Note 2 of the notes to our financial statements. We have identified below the accounting policies that are of particular importance in the presentation of our financial position, results of operations and cash flows, and which require the application of significant judgment by management.

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain “disclosure controls and procedures” as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act. In designing and evaluating our disclosure controls and procedures, our management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events.

Based on their evaluation as of the end of the period covered by this quarterly report, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective to ensure that information required to be disclosed by us in our SEC reports (i) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Changes in Internal Control

There we no changes in our internal control over financial reporting during the fiscal quarter ended June 30, 2014 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

9

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

We are not aware of any legal proceedings to which we are a party or of which our property is the subject. None of our directors, officers, affiliates, any owner of record or beneficially of more than 5% of our voting securities, or any associate of any such director, officer, affiliate or security holder are (i) a party adverse to us in any legal proceedings, or (ii) have a material interest adverse to us in any legal proceedings. We are not aware of any other legal proceedings that have been threatened against us.

Item 1A. Risk Factors

Not applicable.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit Number	Exhibit Description
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
32.1	Certification of the Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
32.2	Certification of the Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*
101.INS	XBRL Instance Document**
101.SCH	XBRL Taxonomy Extension Schema**
101.CAL	XBRL Taxonomy Extension Calculation Linkbase**
101.DEF	XBRL Taxonomy Extension Definition Linkbase**
101.LAB	XBRL Taxonomy Extension Label Linkbase**
101.PRE	XBRL Taxonomy Presentation Linkbase**

* Filed herewith.

** In accordance with Regulation S-T, the XBRL-formatted interactive data files that comprise Exhibit 101 in this quarterly report on Form 10-Q shall be deemed “furnished” and not “filed”.

10

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 14, 2014	CNK Global Inc.
	By:	/s/ Rakgu Kim
		Rakgu Kim
		Chief Financial Officer, Director

11

EX-31.1

Exhibit 31.1

Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) under
the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002

I, Deukgyun Oh, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of CNK Global Inc. (the “Registrant”);
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 in order 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(s) 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 our 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 fourth fiscal 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(s) 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.

Dated:	August 14, 2014
By:	/s/ Deukgyun Oh
	Deukgyun Oh
	President, Chief Executive Officer, Secretary, Treasurer, Director

EX-31.2

Exhibit 31.2

Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) under
the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002

I, Rakgu Kim, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of CNK Global Inc. (the “Registrant”);
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 in order 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(s) 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 our 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 fourth fiscal 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(s) 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.

Dated:	August 14, 2014
By:	/s/ Rakgu Kim
	Rakgu Kim
	Chief Financial Officer, Director

EX-32.1

Exhibit 32.1

Certification of the Chief Executive Officer pursuant to 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the quarterly report of CNK Global Inc. (the “Registrant”) on Form 10-Q for the period ended June 30, 2014 as filed with the Securities and Exchange Commission (the “Report”), I, Deukgyun Oh, certify pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated:	August 14, 2014
By:	/s/ Deukgyun Oh
	Deukgyun Oh
	President, Chief Executive Officer, Secretary, Treasurer, Director

EX-32.2

Exhibit 32.2

Certification of the Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the quarterly report of CNK Global Inc. (the “Registrant”) on Form 10-Q for the period ended June 30, 2014 as filed with the Securities and Exchange Commission (the “Report”), I, Rakgu Kim, certify pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated:	August 14, 2014
By:	/s/ Rakgu Kim
	Rakgu Kim
	Chief Financial Officer, Director

XML

Stockholders' Equity (Details Narrative) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Equity [Abstract]
Common stock, authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	47,391,449
Common stock, shares outstanding	47,391,449	47,391,449
Preferred stock, shares authorized	5,000,000
Preferred stock, par value	$ 0.001
Designated shares, number	0
Warrants exercise price	10.00
Non employee warrants, not exercised	49,500	49,500

XML

Cash in Trust Account

6 Months Ended

Jun. 30, 2014

Cash In Trust Account

Cash in Trust Account

NOTE 3 – CASH IN TRUST ACCOUNT

The trust account consists of funds that have been deposited into the corporate attorney’s escrow account to be used for the benefit of paying certain professional fees the Company may incur. These funds have been contributed by the stockholders and have been accounted for as Due to Stockholder.

XML

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Cash and Cash Equivalents

The Company considers cash on hand, deposits in banks, certificates of deposit and investments with original maturities of three months or less to be cash and cash equivalents.

Income Taxes

The Company accounts for income taxes under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740 “Income Taxes”. Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Income Per Share

Basic income per share is calculated as income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted income per share is calculated using the “if converted” method for convertible securities and the “treasury stock” method for options and warrants. For the six months ended June 30, 2014 and 2013 all securities convertible into common shares were anti-dilutive.

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Going Concern

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet identified ongoing operations and is considered a “shell” company. The lack of cash, losses, negative working capital, and shareholders deficit raise substantial doubt about its ability to continue as a going concern.

In order to continue as a going concern, the Company will need, among other things, capital resources. Management plans to identify an industry in which to invest and begin operating within this “shell” company. Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually obtain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the company is unable to continue as a going concern.

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Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets
Cash in Trust account	$ 2,155	$ 1,669
Total current assets	2,155	1,669
TOTAL ASSETS	2,155	1,669
Current liabilities
Accounts payable	24,112	6,083
Due to stockholder	103,732	89,753
Total current liabilities	127,844	95,836
Stockholders' deficit
Common stock, $.001 Par Value, 100,000,000 shares authorized, 47,391,449 shares outstanding	47,392	47,392
Additional paid-in capital	3,284,909	3,284,909
Accumulated deficit	(3,457,990)	(3,426,468)
Total stockholders' deficit	(125,689)	(94,167)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 2,155	$ 1,669

XML

Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement of Cash Flows [Abstract]
Net loss	$ (31,522)	$ (15,115)
OPERATING ACTIVITIES
(Increase) decrease in trust account	(486)	430
Increase (decrease) in accounts payable	18,029	7,707
Net cash from operating activities	(13,979)	(6,978)
FINANCING ACTIVITIES
Due to stockholder	13,979	6,978
Net cash from financing activities	13,979	6,978
Change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of the year
Cash and cash equivalents, end of the year

XML

Income Taxes (Details Narrative)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Federal income tax rate	34.00%

XML

Uncertain Tax Positions (Details Narrative)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Uncertainties [Abstract]
Effective foreign income tax rate	25.00%	25.00%	25.00%

XML

Basis of Presentation

6 Months Ended

Jun. 30, 2014

Basis Of Presentation

Basis of Presentation

NOTE 1 – BASIS OF PRESENTATION

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. In the opinion of management all adjustments considered necessary for a fair presentation have been included. As a result of the discontinuation and dissolution of the Company’s subsidiary, the Company currently has no operations and is considered a “shell company” under Federal securities laws. The Company intends to acquire assets or shares of an entity actively engaged in a business generating revenues in exchange for the Company’s securities.

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Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	47,391,449	47,391,449

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Subsequent Events

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events

NOTE 11 – SUBSEQUENT EVENTS

Management has evaluated events and transactions subsequent to the balance sheet date through the date of this filing for potential recognition or disclosure in the financial statements. Management has not identified any items requiring recognition or disclosure.

XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 14, 2014
Document And Entity Information
Entity Registrant Name	CNK Global Inc.
Entity Central Index Key	0001187449
Document Type	10-Q
Document Period End Date	Jun. 30, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		47,391,449
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2014

XML

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers cash on hand, deposits in banks, certificates of deposit and investments with original maturities of three months or less to be cash and cash equivalents.

Income Taxes

Income Taxes

The Company accounts for income taxes under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740 “Income Taxes”. Under the asset and liability method of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under FASB ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations.

Income Per Share

Income Per Share

Basic income per share is calculated as income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted income per share is calculated using the “if converted” method for convertible securities and the “treasury stock” method for options and warrants. For the six months ended June 30, 2014 and 2013 all securities convertible into common shares were anti-dilutive.

Estimates

Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Going Concern

Going Concern

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet identified ongoing operations and is considered a “shell” company. The lack of cash, losses, negative working capital, and shareholders deficit raise substantial doubt about its ability to continue as a going concern.

In order to continue as a going concern, the Company will need, among other things, capital resources. Management plans to identify an industry in which to invest and begin operating within this “shell” company. Management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually obtain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the company is unable to continue as a going concern.

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Statements of Operations (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
Income	$ 0	$ 0	$ 0	$ 0
Expenses:
General & administrative expense	9,160	5,034	31,222	14,941
Interest	300	174	300	174
Consulting fees
Total operating expenses	9,460	5,208	31,522	15,115
Net loss	$ (9,460)	$ (5,208)	$ (31,522)	$ (15,115)
Basic and diluted loss per share	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average shares outstanding	47,391,449	47,391,449	47,391,449	47,391,449

XML

Disclosure About Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Disclosure About Fair Value of Financial Instruments

NOTE 6 – DISCLOSURE ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used to estimate the fair value of financial instrument for which it is practicable to estimate value. Cash in trust account is carried at cost, which is a reasonable estimate of fair value.

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Statement of Cash Flows Supplementary Disclosure

6 Months Ended

Jun. 30, 2014

Supplemental Cash Flow Elements [Abstract]

Statement of Cash Flows Supplementary Disclosure

NOTE 5 – STATEMENT OF CASH FLOWS SUPPLEMENTARY DISCLOSURE

There was no interest or taxes paid during the six months ended June 30, 2014 and 2013.

XML

Income Taxes - Schedule of Income Tax Benefit (Expense) (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Computed expected income tax benefit	$ 10,717	$ 5,139
Valuation allowance	(10,717)	(5,139)
Total income tax benefit (expense)

XML

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit (Expense)

The United States of America federal tax rate of 34% to income (loss) before income taxes as a result of the following:

	2014			2013
Computed expected income tax benefit	$	10,717		$	5,139
Valuation allowance		(10,717	)		(5,139	)
	$	-		$	-

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Due to Stockholder

6 Months Ended

Jun. 30, 2014

Related Party Transactions [Abstract]

Due to Stockholder

NOTE 9 – DUE TO STOCKHOLDER

This represents advances by the majority stockholder to pay for certain professional fees and administrative expenses on behalf of the Company.

XML

Income Taxes

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 7 – INCOME TAXES

Income tax benefit (expense) attributable to income (loss) before income taxes differed from the amounts computed by applying the United States of America federal tax rate of 34% to income (loss) before income taxes as a result of the following:

	2014			2013
Computed expected income tax benefit	$	10,717		$	5,139
Valuation allowance		(10,717	)		(5,139	)
	$	-		$	-

Deferred taxes are determined between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates, which are expected to be in effect when these differences reverse.

Management continuously estimates the realizability of its deferred tax assets based on its assessment of the sufficiency of future revenue streams. Due to the “shell” status of the Company, future revenue streams are uncertain. Additionally, the IRS imposes limitations on the use of loss carry forwards if the Company incurs a change in control.

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Uncertain Tax Positions

6 Months Ended

Jun. 30, 2014

Income Tax Uncertainties [Abstract]

Uncertain Tax Positions

NOTE 8 – UNCERTAIN TAX POSITIONS

The Company has not complied with United States (U.S.) Federal and State tax compliance requirements as it relates to filing Federal and State tax returns, Federal Report of Foreign Bank and Financial Accounts and the Information Return of a 25% Foreign-Owned U.S. Corporation for the years ending December 31, 2013, 2012 and 2011. Penalties for non-compliance may be material.

There are no other known tax positions that, if challenged, would have a material effect on the financial statements for the years ended December 31, 2013 and 2012, or during the prior three years applicable under FASB ASC 740. The Company did not recognize any adjustment to the liability for uncertain tax position and therefore did not record any adjustment to the beginning balance of accumulated deficit on the balance sheet.

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Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Stockholders' Equity

NOTE 10 – STOCKHOLDERS’ EQUITY

The Company’s authorized capital stock consists of 100,000,000 shares of common stock, $.001 par value per share, of which 47,391,449 shares are issued and outstanding and 5,000,000 shares of preferred stock, par value $.001 per share, of which no shares are designated.

The Company has outstanding warrants to employees and non-employees allowing the purchase of stock at a price of $10.00 per share. None of the 49,500 non-employee warrants in 2014 or the 49,500 non-employee warrants in 2013, all of whose exercise price exceeded market value as of the date of the grant, have been exercised.

Information regarding the warrants for the three months ended June 30, 2014 and 2013 is as follows:

	2014				2013
	Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Options/warrants outstanding, beginning of year		49,500	$	10.00		49,500	$	10.00
Options/warrants cancelled				n/a				n/a
Options/warrants exercised		-		n/a		-		n/a
Options/warrants granted		-		n/a		-		n/a
Options/warrants outstanding, June 30		49,500	$	10.00		49,500	$	10.00
Options/warrants exercisable, June 30		49,500	$	10.00		49,500	$	10.00

	2014		2013
Option/warrant price range, June 30	$	10.00	$	10.00
Option/warrant price range, exercised shares		n/a		n/a
Options/warrants available for grant at end of year		-		-
Weighted average fair value of options /warrants granted during the year		n/a		n/a

XML

Statement of Cash Flows Supplementary Disclosure (Details Narrative) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement Of Cash Flows Supplementary Disclosure Details Narrative
Interest paid	$ 0	$ 0
Income taxes	$ 0	$ 0

XML

Stockholders' Equity - Schedule of Warrants (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Equity [Abstract]
Options/warrants outstanding, beginning of year, shares	49,500	49,500
Options/warrants cancelled, shares
Options/warrants exercised, shares
Options/warrants granted, shares
Options/warrants outstanding, ending year, shares	49,500	49,500
Options/warrants exercisable, shares	49,500	49,500
Options/warrants outstanding, beginning of year, exercise price	$ 10.00	$ 10.00
Options/warrants outstanding, ending year, exercise price	$ 10.00	$ 10.00
Options/warrants exercisable, exercise price	$ 10.00	$ 10.00
Option/warrant price range	$ 10.00	$ 10.00
Options/warrants available for grant at end of year

XML

Statement of Changes in Stockholders' Deficit (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2013	$ 47,392	$ 3,284,909	$ (3,426,468)	$ (94,167)
Balance, shares at Dec. 31, 2013	47,391,449
Net loss			(31,522)	(31,522)
Balance at Jun. 30, 2014	$ 47,392	$ 3,284,909	$ (3,457,990)	$ (125,689)
Balance, shares at Jun. 30, 2014	47,391,449

XML

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2014

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements

NOTE 4 – NEW ACCOUNTING PRONOUNCEMENTS

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position, or cash flow.

XML

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Schedule of Warrants

Information regarding the warrants for the three months ended June 30, 2014 and 2013 is as follows:

	2014				2013
	Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Options/warrants outstanding, beginning of year		49,500	$	10.00		49,500	$	10.00
Options/warrants cancelled				n/a				n/a
Options/warrants exercised		-		n/a		-		n/a
Options/warrants granted		-		n/a		-		n/a
Options/warrants outstanding, June 30		49,500	$	10.00		49,500	$	10.00
Options/warrants exercisable, June 30		49,500	$	10.00		49,500	$	10.00

	2014		2013
Option/warrant price range, June 30	$	10.00	$	10.00
Option/warrant price range, exercised shares		n/a		n/a
Options/warrants available for grant at end of year		-		-
Weighted average fair value of options /warrants granted during the year		n/a		n/a