10-Q

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

September 30, 2016

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Commission File No. 000-55410

NEW ASIA HOLDINGS, INC.

(Exact Name of Small Business Issuer as specified in its charter)

Nevada	45-0460095
(State or other jurisdiction	(IRS Employer File Number)

60 Paya Lebar Road 12-08 Paya Lebar Square Singapore	409051
(Address of principal executive offices)	(zip code)

+65-6820-8885

(Registrant's telephone number, including area code)

33 Ubi Avenue 3 #07-58 Vertex Tower A Singapore 408868

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

Indicate by check mark whether the registrant: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act 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 such filing requirements for the past 90 days. Yes ☑ 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 (Section 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files. Yes ☐ No ☑

Indicate by check mark whether the registrant is a large accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer," and "small 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 ☑

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No ☑

As of November 21 2016, the Company had 68,948,767 shares of common stock issued and outstanding.

FORM 10-Q

NEW ASIA HOLDINGS, INC.

TABLE OF CONTENTS

PART I FINANCIAL INFORMATION
Item 1. Financial Statements for the period ended September 30, 2016
	Consolidated Balance Sheets as of September 30, 2016 (Unaudited) and December 31, 2015	3
	Unaudited Consolidated Statements of Operations and Other Comprehensive Income (Loss) for the three and Nine months ended September 30, 2016 and 2015	4
	Unaudited Consolidated Statements of Cash Flows for the Nine months ended September 30, 2016 and 2015	5
	Notes to Unaudited Consolidated Financial Statements	6
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations		10
Item 3. Quantitative and Qualitative Disclosures About Market Risk		13
Item 4. Controls and Procedures		13
PART II OTHER INFORMATION
Item 1. Legal Proceedings		14
Item 1A. Risk Factor		14
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		14
Item 3. Defaults Upon Senior Securities		14
Item 4. Mine Safety Disclosures		14
Item 5. Other Information		14
Item 6. Exhibits		16
Signatures		16

PART I FINANCIAL INFORMATION

References in this document to "us," "we," "NAHD," or "Company" refer to New Asia Holdings, Inc.

ITEM 1. FINANCIAL STATEMENTS:

NEW ASIA HOLDINGS, INC

CONSOLIDATED BALANCE SHEETS

	September 30, 2016			December 31, 2015
	(Unaudited)
ASSETS
Current Assets
Cash	$	71,806		$	105,385
Accounts Receivable (from related party)		6,025			885
Prepaid Expense		640			15,103
Total Current Assets		78,471			121,373
Other Assets
Deposit		1,348			790
Total Other Assets		1,348			790
TOTAL ASSETS	$	79,819		$	122,163
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable	$	1,254			4,205
Accrued Expenses		5,095			-
Advance From Shareholder		415,954			316,533
Contingent Liability		5,806,897			5,658,457
Total Current Liabilities	$	6,229,200		$	5,979,195
Total Liabilities	$	6,229,200		$	5,979,195
Stockholders' Deficit
Preferred Stock, $0.001 par value, 30,000,000 shares authorized, 0 shares issued and outstanding
Common Stock, $0.001 par value, 400,000,000 shares authorized, 68,948,767 shares issued and outstanding		68,949			68,949
Additional Paid In Capital		5,412,555			5,412,555
Accumulated Deficit		(11,631,301	)		(11,337,785	)
Stockholders' Deficit		(6,149,797	)		(5,856,281	)
Accumulated Other Comprehensive Income(Loss)		416			(751	)
Total Stockholders' Deficit	$	(6,149,381	)	$	(5,857,032	)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$	79,819		$	122,163

The accompanying notes are an integral part of these unaudited consolidated financial statements

3

NEW ASIA HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS)

 (Unaudited)

	For the three months ended September 30, 2016			For the three months ended September 30, 2015			For the Nine months ended September 30, 2016			For the Nine months ended September 30, 2015
Revenues
Service Income from related party	$	5,638		$	-		$	27,237		$	-
Total related party revenues		5,638			-			27,237			-
Operating expenses
Professional Fees		8,340			37,112			62,318			95,968
Outside Services		7,087			12,763			20,380			17,553
General & Administrative expenses		29,882			15,999			89,615			851,464
Total operating expense		45,309			65,874			172,313			964,985
Total loss from operations		(39,671	)		(65,874	)		(145,076	)		(964,985	)
Other expense
Change in fair value of Contingent Liabilities		(148,440	)		(371,100	)		(148,440	)		(371,100	)
Total other expense		(148,440	)		(371,100	)		(148,440	)		(371,100	)
Net loss	$	(188,111	)	$	(436,974	)	$	(293,516	)	$	(1,336,085	)
Foreign currency translation income (loss)		(146	)		(3,966	)		1,167			(3,966	)
Total comprehensive loss	$	(188,257	)	$	(440,940	)	$	(292,349	)	$	(1,340,051	)
Net loss per common share - basic and diluted	$	(0.00	)	$	(0.01	)	$	(0.00	)	$	(0.02	)
Weighted average common shares outstanding - basic and diluted		68,948,767			57,130,111			68,948,767			64,218,266

The accompanying notes are an integral part of these unaudited consolidated financial statements

4

NEW ASIA HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Nine months ended			For the Nine months ended
	September 30, 2016			September 30, 2015
Cash flows from operating activities
Net loss	$	(293,516	)	$	(1,336,085	)
Adjustment to reconcile net loss to net cash used in operating activities:
Change in Fair Value of Contingent Liability		148,440			371,100
Shared-based compensation		-			800,000
Changes in operating assets and liabilities:
Receivable-Other		(5,140	)		-
Prepaid expenses		14,463			-
Deposits		(558	)		(790	)
Accounts payable		(2,951	)		3,303
Accrued expenses		5,095			-
Net cash used in operating activities	$	(134,167	)	$	(162,472	)
Cash flows from financing activities
Advances from Shareholder	$	99,421		$	320,053
Net cash provided by financing activities	$	99,421		$	320,053
Indirect acquisition costs		-			(6,059	)
Effect of exchange rate on cash		1,167			(3,966	)
Net increase (decrease) in cash	$	(33,579	)		147,556
Cash at beginning of period	$	105,385		$	-
Cash at end of period	$	71,806		$	147,556
Supplemental disclosure of cash flow information:
Cash paid for taxes	$	800		$	800
Cash Paid for interest		-			-
Non-cash financing and investing activities
Acquisition of Magdallan Quant PTE LTD by issuing common stock	$	-		$	3,043,020

The accompanying notes are an integral part of these unaudited consolidated financial statements

5

NEW ASIA HOLDINGS, INC.

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS

September30, 2016

Note 1: Organization and Summary of Significant Accounting Policies

ORGANIZATION

New Asia Holdings, Inc. (formerly known as DM Products, Inc, previously known as Midwest E.S.W.T. Corp, and previously known as Effective Sport Nutrition Corporation) (the "Company" or "NAHD") was incorporated on March 1, 2001. Prior to December 2014, we were in the business of locating inventive products and introducing these products (such as the Banjo Minnow Fishing Lure System) through a Direct Response Model, a form of marketing that allows potential consumers direct access to the seller without the necessity of traditional retail. In December 2014, the Company underwent a change in control as a result of approximately 90% of the then issued and outstanding shares of common stock of the Company being acquired by New Asia Holdings, Ltd. (wholly owned by Lin Kok Peng, Ph.D.) and other accredited investors and management adopting a new business plan based on developing highly advanced, proprietary, neural trading models for the financial community.

We offer trading software solutions to clients on the basis of a "Software as a Service (SaaS)" licensing and delivery models with licensed users availing themselves of service-based contractual arrangements. In addition, we will utilize our in-house proprietary neural trading models to trade our own funds, thus providing added value to our shareholders.

The Company's focus is to capitalize the large volume of the 24 hours Forex markets to achieve capital appreciation over a medium to long term combined with the usage of a good wealth vehicle in order to control risk, profit from both bull or bear markets, maximize liquidity and economic resilience.

On January 21, 2015, Lin Kok Peng resigned from the position of Secretary of the Company while Scott C. Kline was appointed as the Secretary, replacing Lin Kok Peng, and as General Counsel of the Company.

On January 23, 2015, the Company filed a Certificate of Amendment with the Secretary of State of the State of Nevada effecting a name change of the Company from DM Products, Inc. to New Asia Holdings, Inc. (the "Name Change"). The Company notified the Financial Industry Regulatory Authority ("FINRA") of the Name Change and a new trading symbol, "NAHD", was assigned effective February 13, 2015 as well as a new CUSIP number (64202A109) for the Company's common stock.

On August 19, 2015, the Board of Directors of the Company approved a resolution acknowledging that New Asia Holdings Ltd, the principal controlling shareholder of the Company, (i) had been advancing funds in the amount of $220,000 to the Company since December 24, 2014 to pay for operating expenses of the Company and (ii) would be required to advance an additional $80,000 to the Company to fund further operating expenses of the Company. The Board further resolved that these advances would constitute an interest-free loan to the Company to be repaid by the close of business on October 31, 2015. However, if the Company was unable to repay these advances by such date, New Asia Holdings Ltd, at its sole discretion, would have the option to extend the repayment deadline or convert all or a portion of the above advances into common stock of the Company at a conversion price of $0.02 per share. As of September 30, 2016, the principal shareholder, New Asia Holdings Ltd, had not yet acted to exercise its option to convert the advances to shares of common stock, thus the Advances presently remain as an interest-free loan to the Company.

On August 28, 2015, the Company completed the acquisition of Magdallen Quant Pte Ltd., a Singapore-based company, which is focused on the research, development and deployment of advanced, proprietary, trainable trading algorithms. The acquisition was accomplished through a share exchange with Mr. Anthony Ng Zi Qin of 7,422,000 new restricted shares of common stock of the Company with a fair value of $3,043,020 in exchange for the entire issued and outstanding capital of Magdallen Quant Pte Ltd., held by Mr. Anthony Ng Zi Qin, consisting of 8,000,100 shares issued at par value of SGD$1.00 per share, or USD$0.714 on the acquisition date and additional contingent consideration of $4,099,837.

6

On September 7, 2015, Mr. Scott C. Kline ("Mr. Kline") resigned as Secretary and General Counsel of the Company. The resignation was not as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On that date, Mr. Jose A. Capote ("Mr. Capote") was appointed to serve as the Company's Secretary and Vice President. There is no family relationship between Mr. Capote and any of the Company's directors or officers. Mr. Capote is currently a shareholder of the Company through his 50% ownership of Earth Heat Ltd.

On August 19, 2016, the Company entered into an Addendum to the Magdallen Quant Pte Ltd Share and Purchase Agreement with Mr. Anthony Ng Zi Qin to extend the August 25, 2016 anniversary date for the adjustment of issued shares for an additional period of twelve (12) months.

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial information and with the instructions to Securities and Exchange Commission ("SEC") Form 10-Q and Article 8 of SEC Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included.  Operating results for the interim periods are not necessarily indicative of financial results for the full year.  These unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015.  In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods.  Actual results could differ from those estimates.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash, accounts payable, and advances from shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates, unless otherwise disclosed in these financial statements.

ASC Topic 820, "Fair Value Measurements and Disclosures," requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, "Financial Instruments," defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows:

· Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

· Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

· Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company currently has a purchase price contingency.

7

At September 30, 2016, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value as of September 30, 2016			Fair Value Measurements at September 30, 2016 Using Fair Value Hierarchy
				Level 1			Level 2		Level 3
Contingent consideration for business combination		$	5,806,897		$	5,806,897		–		–
Total		$	5,806,897		$	5,806,897		–		–

At December 31, 2015, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair ValueAs of December 31, 2015			Fair Value Measurements atDecember 31, 2015 Using Fair Value Hierarchy
				Level 1			Level 2		Level 3
Contingent consideration for business combination			5,658,457			5,658,457		–		–
Total		$	5,658,457		$	5,658,457		–		–

Note 2: Going Concern

The accompanying unaudited interim consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has substantial losses, has a working capital deficit of $343,832 (not including the contingent liability of $5,806,897), and is in need of additional capital to grow its operations so that it can become profitable. These matters, among others, raise substantial doubt about our ability to continue as a going concern. 

In view of these matters, the ability of the Company to continue as a going concern is dependent upon growth of revenues and the ability of the Company to raise additional capital. Management believes that its successful ability to raise capital and increases in revenues will provide the opportunity for the Company to continue as a going concern. The unaudited interim consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Note 3: Related Party Transactions

There were advances in the amount of $99,421 from significant shareholders during the nine month period ended September 30, 2016.  The total advances due are $415,954 and $316,533 to the significant shareholders as of September 30, 2016 and December 31, 2015, respectively.  Pursuant to the Board resolutions described in Note 1 above, $316,533 of the advances constitute unsecured interest-free loans to the Company.  The advances accruing under the Board resolutions were supposed to have been repaid by the close of business on October 31, 2015. In 2015, however, in accordance with the Board resolutions, if the Company was unable to repay these advances by such date, New Asia Holdings Ltd, at its sole discretion, would have the option to extend the repayment deadline or convert all or a portion of the above advances into common stock of the Company at a conversion price of $0.02 per share. As of September 30, 2016, the principal shareholder, New Asia Holdings Ltd, had not yet acted to exercise its option to convert the advances to shares of common stock, thus the advances presently remain as an interest-free loan to the Company. The $99,421 borrowed during the nine-month period ended September 30, 2016 are non-interest bearing unsecured, and due on demand.

On September 7, 2015, Mr. Jose A. Capote ("Mr. Capote") was appointed to serve as the Company's Secretary and Vice President. There is no family relationship between Mr. Capote and any of the Company's directors or officers. Mr. Capote is currently a shareholder of the Company through his 50% ownership of Earth Heat Ltd. The Company has paid Mr. Capote consulting fees for acting in the capacity as Secretary and Vice President of the Company in the amount of $13,500 and $7,500 for the periods ended September 30, 2016 and September 30, 2015, respectively.

8

The Company pays New Asia Momentum Pte Ltd, a Singapore private company owned and controlled by Dr. Lin Kok Peng, Chairman and CEO of the Company fees for the rental of office space and for administrative services in its Singapore Headquarters. The Company has paid New Asia Momentum Pte Ltd $11,734 and -0- for the nine-month periods ended September 30, 2016 and 2015, respectively.

In November, 2015, Magdallen Quant Pte Ltd (MQL) the Company's wholly-owned subsidiary, entered into a Software License Agreement with New Asia Momentum Limited (NAML), a Company owned and controlled by NAHD's Chairman and CEO, Dr Lin Kok Peng. In consideration of MQL's performance, NAML(Client) agrees to pay MQL in accordance with the following provisions:

(i) License and Other Fixed Price Fees as set forth below:

· License fees shall be based on profits from the End Users' accounts. The license fee shall be calculated as follows: -

o Where the asset under management from all End Users is less than US$ 10 million, fifteen percent (15%) only of the profits from the End Users' accounts;

o If the asset under management from all End Users exceed US$10 million, MQL's fees shall be separately agreed on between MQL and Client, and if MQ and the Client are unable to agree on such apportionment, MQL shall still be entitled to fifteen percent (15%) only of the profits from the End Users' accounts;

o On every anniversary date of this Agreement, parties will review the performance of the Licensed Software and may by mutual agreement between MQL and the Client vary the license fee. 

(ii) Time & Material Fees: The charges for performance of any T&M tasks due to Work Orders will be billed monthly for charges incurred in the previous monthly period and are due and payable within thirty (30) days of the date of the invoice. Expenses may include, but are not limited to, reasonable charges for materials, office and travel expenses, graphics, documentation, research materials, computer laboratory and data processing, and out-of-pocket expenses reasonably required for performance. Expenses for travel and travel-related expenses and individual expenses in excess of US$500 require the prior approval of Client.

NAML paid MQL a total of $5,638, and $27,237 in related party revenue for the three and nine month period ended September 30, 2016, respectively. MQL has an accounts receivable balance with NAML of $4,152, and 0 for the period ending September 30, 2016 and December 31, 2015. NAHD has an accounts receivable from a related party with an office in common for rental payments made by the Company of $1,873 and $885 for the period ending September 30, 2016 and December 31, 2015.

Note 4: Commitments and Contingencies

The Company entered into an Office Service Agreement on May 4, 2016, with Real Office Centers 23 Corporate Center Plaza Suite 100/150 (doing business as ROC)). Under the terms of the agreement, ROC granted the Company a license to use the facilities and services of the Center at 15615 Alton Parkway Suite 450, Irvine, CA 92618. The basic terms of this agreement is for 12 months commencing July 1, 2016 ending June 30, 2017 with monthly fixed fees of $1,115.

The Company pays New Asia Momentum Pte Ltd, a Singapore private company owned and controlled by Dr. Lin Kok Peng, Chairman and CEO of the Company fees for the rental of office space and for administrative services in its Singapore Headquarters. The Company has paid New Asia Momentum Pte Ltd $11,734 and -0- for the nine-month periods ended September 30, 2016 and 2015, respectively.

Pursuant to the Sale & Purchase Agreement, and the addendum executed on August 19, 2016, relating to the Company's acquisition of issued and outstanding shares of Magdallen Quant Pte Ltd in exchange for new restricted shares of common stock of the Company, if the average trading price of the Company's shares based on the 7 days closing price over the period immediately before the second anniversary date (August 25, 2017) of this Agreement and the 7th day falling on the first anniversary date of the agreement is below USD $1.00, the Company shall issue additional shares to Anthony Ng Zi Qin to make up the difference between the value of the Consideration Shares based on such 7 days closing history and the sum of SGD 10,000,000. The difference between the fair value of the assets acquired and the value of the shares swapped ($4,099,837) as well as the negative change in the common stock share price ($1,707,060) for the period ended September 30, 2016 created a contingent liability in amount of $5,806,897 in U.S. Dollars. The negative change in common share price occurred because the stock price decreased from $0.20 per share as of June 30, 2016 to $0.18 per share as of September 30, 2016. The Company recorded a loss in change in fair value of $148,440 and $371,100 for the nine months ended September 30, 2016 and 2015, respectively.

9

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION

The following discussion of our financial condition and results of operations should be read in conjunction with, and is qualified in its entirety by, the consolidated financial statements and notes thereto included in, Item 1 in this Quarterly Report on Form 10-Q. This item contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those indicated in such forward-looking statements.

Forward-Looking Statements

This Quarterly Report on Form 10-Q and the documents incorporated herein by reference contain forward-looking. Such forward-looking statements are based on current expectations, estimates, and projections about our industry, management beliefs, and certain assumptions made by our management. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", variations of such words, and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict; therefore, actual results may differ materially from those expressed or forecasted in any such forward-looking statements. Unless required by law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. However, readers should carefully review the risk factors set forth in other reports and documents that we file from time to time with the Securities and Exchange Commission, particularly the Report on Form 10-K, Form 10-Q and any Current Reports on Form 8-K.

Executive Overview

New Asia Holdings, Inc. (formerly known as DM Products, Inc, previously known as Midwest E.S.W.T. Corp, and previously known as Effective Sport Nutrition Corporation) (the "Company" or "NAHD") was incorporated on March 1, 2001. Prior to December 2014, we were in the business of locating inventive products and introducing these products (such as the Banjo Minnow Fishing Lure System) through a Direct Response Model, a form of marketing that allows potential consumers direct access to the seller without the necessity of traditional retail. In December 2014, the Company underwent a change in control as a result of approximately 90% of the then issued and outstanding shares of common stock of the Company being acquired by New Asia Holdings, Inc. (wholly owned by Lin Kok Peng, Ph.D.)  and management adopting a new business plan based on developing highly advanced, proprietary, neural trading models for the financial community.

It is our belief that our state-of-the-art, trainable, algorithms in our models will emulate aspects of the human brain, providing our algorithms with a self-training ability to formalize unclassified information and thus develop an enhanced ability to make forecasts based on the historical information and other data available at their disposal. Our neural networks will not make forecasts, instead, they will analyze price data and uncover opportunities. Using our proprietary neural network, trade decisions will be made based on thoroughly analyzed data (which is not generally possible when using traditional technical analysis methods). We anticipate offering a series of "next-generation" tools that can detect subtle non-linear interdependencies and patterns that other methods of technical analysis are unable to uncover.

10

We will offer trading software solutions to clients on the basis of a "Software as a Service (SaaS)" licensing and delivery models with licensed users availing themselves of service-based contractual arrangements. In addition, we will utilize our in-house proprietary neural trading models to trade our own funds, thus providing added value to our shareholders.

Our proprietary trading models will be developed by a team of professional engineers in communications, electronic circuitry design and financial engineering. This diverse team will be the key factor of our successful development of non-traditional and innovative trading models. Our systems will be designed to take intelligent positions as the market moves/changes and, upon development, our systems will bring a proven, rigorously tested, track-record. We anticipate that our proprietary algorithmic trading systems will generate superior, risk adjustable, returns for our clients.

The Company's focus is to capitalize the volatility of the 24 hours Forex markets to achieve capital appreciation over a medium to long term combined with the usage of a good wealth vehicle in order to control risk, profit from both bull or bear markets, maximize liquidity and economic resilience (recession proof).

The NAHD systems have been designed to constantly adapt themselves and to take intelligent positions as the market moves/changes. The models are subjected to rigorous testing akin to the volatile trading environment of major financial events/crisis that happened in recent history. These models are also programmed to have the ability to learn and adapt new manners of trading; effectively translating the human behavioral of trading into a predictive science. The NAHD cutting edge quantitative strategies and proprietary algorithmic trading system are developed to generate superior risk adjustable returns for the Holders.

On August 28, 2015, the Company completed the acquisition of Magdallen Quant Pte Ltd. The acquisition was accomplished through a share exchange with Mr. Anthony Ng Zi Qin of 7,422,000 new restricted shares ("Consideration Shares") of common stock of the Company, at a market value of $0.41 per share, with an aggregate fair value of $3,043,020 in exchange for the entire issued and outstanding capital of Magdallen Quant Pte Ltd., held by Mr. Anthony Ng Zi Qin, consisting of 8,000,100 shares of stock issued at par value of SGD$1.00 per share, or USD$0.714 on the acquisition date.

Results of Operations

Three Months Ended September 30, 2016 and 2015

We had related party revenue of $5,638, and $0 for the three months ended September 30, 2016, and September 30, 2015 respectively. These revenues resulted from fees received from the Company's licensee, New Asia Momentum Limited, NAML, (a Company owned and controlled by NAHD Chairman and CEO). Since placing the Algorithms into operations, the Company's licensee, NAML has increased its Assets Under Management (AUM) from zero to approximately $1,515,000 and from zero clients to 47 in the span of nine months. The Algorithms have achieved an average return of between 16% to 21% per month.

Operating expenses were $45,309 for the three-month period ended September 30, 2016, and consisted primarily of general and administrative expenses, communication expenses and professional fees. This compares with operating expenses for the three-month period ended September 30, 2015 of $65,874 which consisted primarily of general and administrative expenses, stock compensation expense, and professional fees. The material decreases in such operating expenses in the third quarter of 2016 were related to a decrease in legal and accounting fees and the absence of stock-based compensation.  As a result of the foregoing, we had a net loss from operations of $39,671 and a net loss of $188,111 for the three-month period ended September 30, 2016, which includes a contingent liability associated with the change in fair value of the acquired asset of $148,440 for the period ended September 30, 2016.  This compares with a net loss for the three-month period ended September 30, 2015 of $436,974, which includes a contingent liability associated with the change in fair value of the acquired asset of $371,100 for the period ended September 30, 2015

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Nine Months Ended September 30, 2016 and 2015

We had related party revenue $27,237 and $0 for the nine months ended September 30, 2016, and September 30, 2015 respectively.

Operating expenses were $172,313 for the nine-month period ended September 30, 2016, and consisted primarily of general and administrative expenses, communication expenses and professional fees. This compares with operating expenses for the nine-month period ended September 30, 2015 of $964,985, which consisted primarily of general and administrative expenses, stock compensation expense, and professional fees. The material decrease in such operating expenses in third quarter of 2016 were related to a decrease in legal and accounting fees and the absence of stock based compensation.  As a result of the foregoing, we had a net loss from operations of $145,076 and net loss of $293,516, which includes $148,440 in contingent liabilities as described above, for the nine-month period ended September 30, 2016.  This compares with a net loss for the nine-month period ended September 30, 2015 of $1,336,085, including $371,100 of contingent liabilities, as described above.

After the change in control, the Company is focused on a new business model, as described above. We expect that we will need to raise additional funds to support the expansion of our new business model, including, working capital to support the implementation of new projects, or if we must respond to unanticipated events that require us to make additional investments. We cannot assure that additional financing will be available when needed on favorable terms, or at all.

From our acquisition of our proprietary trainable trading algorithms, we generated revenues from second quarter 2016, however, notwithstanding these developments we expect to incur operating losses through the balance of this year because we will be incurring expenses and not generating sufficient revenues. We cannot guarantee that we will be successful in generating sufficient revenues or other funds in the future to cover these operating costs. We expect to cover such shortfall in operating margins through advances from our principal shareholder and other fund-raising measures that the Company deems appropriate.

Liquidity and Capital Resources.

We had cash in the amount of $71,806 and $105,385 as of September 30, 2016 and December 31, 2015, respectively.  We had net cash used in operating activities for $134,167 for the nine-month period ended September 30, 2016 and $162,472 of net cash used by operating activities for the nine -month period ended September 30, 2015. We had no cash flows from investing activities and had cash flow of $99,421 from financing activities (from advances from shareholders) during the nine-month period ended September 30, 2016 and $320,053 cash flows from financing activities during the nine-month period ended September 30, 2015.

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, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

12

Future Financings

While we have revenues through the 3rd Quarter 2016, we expect that we will continue to rely on advances from our principal shareholder as well as from other sources of financing, including private placements of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund our operations and other activities.

Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

Recently Issued Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by our company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our management carried out an evaluation under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act").

Based on this evaluation, our principal executive and principal financial and accounting officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) were effective as of September 30, 2016.

13

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

The Company is not required by current SEC rules to include, and does not include, an auditor's attestation report. The Company's registered public accounting firm has not attested to Management's reports on the Company's internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which our director, officer or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest averse to our interest.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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.

14

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

Exhibit Number	Description	Filing
3.1	Articles of Incorporation	Previously included as an Exhibit to the Registration Statement on Form S-1 filed with the Securities and Exchange Commission on April 8, 2010.
3.2	Certificate of Amendment	Previously included as an Exhibit to the Registration Statement on Form S-1 filed with the Securities and Exchange Commission on April 8, 2010.
3.3	Certificate of Amendment	Previously included as an Exhibit to Form 8-K filed with the Securities and Exchange Commission on December 14, 2011.
3.4	Certificate of Designation, Series "A" Preferred Stock	Previously included as an Exhibit to Form 8-K filed with the Securities and Exchange Commission on December 14, 2011.
3.5	Certificate of Amendment	Previously included as an Exhibit to Form 8-K filed with the Securities and Exchange Commission on February 17, 2015.
3.6	Bylaws	Previously included as an Exhibit to the Registration Statement on Form S-1 filed with the Securities and Exchange Commission on April 8, 2010.
10.1	Addendum to Magdallen Quant Pte Ltd Share and Purchase Agreement, dated August 19, 2016 between New Asia Holdings, Inc. and Anthony Ng Zi Qin	Filed herewith.
31.1	Certification of CEO pursuant to Sec. 302	Filed herewith.
31.2	Certification of CFO pursuant to Sec. 302	Filed herewith.
32.1	Certification of CEO pursuant to Sec. 906	Filed herewith.
32.2	Certification of CFO pursuant to Sec. 906	Filed herewith.
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document	Filed herewith.
101.INS	XBRL Instance Document	Filed herewith.
101SCH	XBRL Taxonomy Extension Schema Document	Filed herewith.
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document	Filed herewith.
101.LAB	XBRL Taxonomy Extension Label Linkbase Document	Filed herewith.
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document	Filed herewith.
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document	Filed herewith.

15

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized.

	NEW ASIA HOLDINGS, INC.
Date : November 21, 2016	By:	/s/ Lin Kok Peng
		Lin Kok Peng
		Chief Executive Officer, Chief Financial Officer and Chairman of the Board
		(Principal Executive Officer and Principal Financial and Accounting Officer)

16

EX-10.1

Exhibit 10.1

ThisA D D E N D U Mis made this 19th day of August 2016.

BETWEEN :-

(1) NEW ASIA HOLDINGS INC , a corporation registered in the United States of America and listed on US OTCQB market, Symbol NAHD, and having its registered office at 60 Paya Lebar Road #12-08 Paya Lebar Square Singapore 409051 (the " Purchaser ") .

re

(2) ANTHONY NG ZI QIN (Singapore NRIC No. ) of 102 Gerald Drive, #04-75 Seletar Springs Condominium, Singapore 798593 (the " Vendor ").

.

THIS ADDENDUM is supplemental to the written Sale and Purchase Agreement dated 25 th August 2015 entered into between the Purchaser and the Vendor (" Agreement ").

THE PARTIES HEREBY AGREE AS FOLLOWS :-

1.Variation

1.1 By mutual agreement, the Parties hereby extend the stipulated timeline under Clause 3.3 of the Agreement by one (1) year to the second anniversary date of the Agreement.

1.2 As such, all references to the 'first anniversary date of this Agreement' at Clause 3.3 of the Agreement shall be varied and changed to 'second anniversary date of this Agreement'.

2.Incorporation

2.1 This Addendum shall be construed as one with the Agreement. Accordingly, the term "Agreement" and other relevant terms as used in the Agreement and all other instruments and agreements executed thereunder or pursuant thereto shall for all purposes refer to the Agreement as amended, varied and supplemented by this Addendum.

2.2 Except to the extent each is expressly amended by the terms of this Addendum, the Agreement and all other instruments and agreements executed thereunder or pursuant thereto shall remain in full force and effect.

3.Governing Law

   This Addendum shall be governed by and construed in accordance with the laws of Singapore.

I N   W I T N E S S   W H E R E O F    this Addendum has been entered into by the parties hereto and shall be effective on the day and year first above written.

THE PURCHASER:

Signed by

Lin Kok Peng                                                                                          /s/ Lin Kok Peng

for and on behalf of                                                                              

NEW ASIA HOLDINGS INC                                                             

in the presence of:

/s/ Jose A Capote

Name:

NRIC / Passport No:

THE VENDOR:

Signed by

ANTHONY NG ZI QIN                                                                         /s/ Anthony Ng Zi Qin

in the presence of:

/s/ Jose A Capote

Name:

NRIC / Passport No:

EX-31.1

Exhibit 31.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13a-14

I, Lin Kok Peng, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for September 30, 2016 of New Asia Holdings, Inc.;

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(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 my 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.

Date: November 21, 2016	/s/ Lin Kok Peng
	By: Lin Kok Peng
	Its: Chief Executive Officer (Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13a-14

I, Lin Kok Peng, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for September 30, 2016 of New Asia Holdings, Inc.;

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(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 my 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.

Date: November 21, 2016	/s/ Lin Kok Peng
	By: Lin Kok Peng
	Its: Chief Financial Officer (Principal Financial and Accounting Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION 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 Quarterly Report of New Asia Holdings, Inc. (the "Company") on Form 10-Q for the period ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Lin Kok Peng, Chief Executive Officer, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(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 result of operations of the Company.

/s/ Lin Kok Peng

By: Lin Kok Peng

Chief Financial Officer

(Principal Executive Officer)

Dated: November 21, 2016

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

 CERTIFICATION 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 Quarterly Report of New Asia Holdings, Inc.  (the "Company") on Form 10-Q for the period ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Lin Kok Peng, Chief Financial Officer, certify pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

(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 result of operations of the Company.

/s/ Lin Kok Peng

By: Lin Kok Peng

Chief Financial Officer

(Principal Financial and Accounting Officer)

Dated: November 21, 2016

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 21, 2016
Document and Entity Information
Entity Registrant Name	New Asia Holdings, Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Entity Central Index Key	0001485029
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		68,948,767
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Entity Incorporation, Date of Incorporation	Mar. 01, 2001
Trading Symbol	nahd

XML

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash	$ 71,806	$ 105,385
Accounts Receivable (from related party)	6,025	885
Prepaid Expense	640	15,103
Total Current Assets	78,471	121,373
Other Assets
Deposit	1,348	790
Total Other Assets	1,348	790
TOTAL ASSETS	79,819	122,163
Current Liabilities
Accounts Payable	1,254	4,205
Accrued Expenses	5,095
Advance From Shareholder	415,954	316,533
Contingent Liability	5,806,897	5,658,457
Total Current Liabilities	6,229,200	5,979,195
Total Liabilities	6,229,200	5,979,195
Stockholders' Deficit
Preferred Stock, $0.001 par value, 30,000,000 shares authorized, 0 shares issued and outstanding
Common Stock, $0.001 par value, 400,000,000 shares authorized, 68,948,767 shares issued and outstanding	68,949	68,949
Additional Paid In Capital	5,412,555	5,412,555
Accumulated Deficit	(11,631,301)	(11,337,785)
Stockholders' Deficit	(6,149,797)	(5,856,281)
Accumulated Other Comprehensive Income(Loss)	416	(751)
Total Stockholders' Deficit	(6,149,381)	(5,857,032)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	$ 79,819	$ 122,163

XML

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	400,000,000	400,000,000
Common Stock, shares issued	68,948,767	68,948,767
Common Stock, shares outstanding	68,948,767	68,948,767
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	30,000,000	30,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

XML

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Service Income from related party	$ 5,638		$ 27,237
Total related party revenues	5,638		27,237
Operating expenses
Professional Fees	8,340	$ 37,112	62,318	$ 95,968
Outside Services	7,087	12,763	20,380	17,553
General & Administrative expenses	29,882	15,999	89,615	851,464
Total operating expense	45,309	65,874	172,313	964,985
Total loss from operations	(39,671)	(65,874)	(145,076)	(964,985)
Other expense
Change in fair value of Contingent Liabilities	(148,440)	(371,100)	(148,440)	(371,100)
Total other expense	(148,440)	(371,100)	(148,440)	(371,100)
Net loss	(188,111)	(436,974)	(293,516)	(1,336,085)
Foreign currency translation income (loss)	(146)	(3,966)	1,167	(3,966)
Total comprehensive loss	$ (188,257)	$ (440,940)	$ (292,349)	$ (1,340,051)
Net loss per common share - basic and diluted	$ (0.00)	$ (0.01)	$ (0.00)	$ (0.02)
Weighted average common shares outstanding - basic and diluted	68,948,767	57,130,111	68,948,767	64,218,266

XML

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net loss	$ (293,516)	$ (1,336,085)
Adjustment to reconcile net loss to net cash used in operating activities:
Change in Fair Value of Contingent Liability	148,440	371,100
Shared-based compensation		800,000
Changes in operating assets and liabilities:
Receivable-Other	(5,140)
Prepaid expenses	14,463
Deposits	(558)	(790)
Accounts payable	(2,951)	3,303
Accrued expenses	5,095
Net cash used in operating activities	(134,167)	(162,472)
Cash flows from financing activities
Advances from Shareholder	99,421	320,053
Net cash provided by financing activities	99,421	320,053
Indirect acquisition costs		(6,059)
Effect of exchange rate on cash	1,167	(3,966)
Net increase (decrease) in cash	(33,579)	147,556
Cash at beginning of period	105,385
Cash at end of period	71,806	147,556
Supplemental disclosure of cash flow information:
Cash paid for taxes	800	800
Cash Paid for interest
Non-cash financing and investing activities
Acquisition of Magdallan Quant PTE LTD by issuing common stock		$ 3,043,020

XML

Note 1: Organization and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2016

Notes

Note 1: Organization and Summary of Significant Accounting Policies

Note 1: Organization and Summary of Significant Accounting Policies

ORGANIZATION

New Asia Holdings, Inc. (formerly known as DM Products, Inc, previously known as Midwest E.S.W.T. Corp, and previously known as Effective Sport Nutrition Corporation) (the "Company" or "NAHD") was incorporated on March 1, 2001. Prior to December 2014, we were in the business of locating inventive products and introducing these products (such as the Banjo Minnow Fishing Lure System) through a Direct Response Model, a form of marketing that allows potential consumers direct access to the seller without the necessity of traditional retail. In December 2014, the Company underwent a change in control as a result of approximately 90% of the then issued and outstanding shares of common stock of the Company being acquired by New Asia Holdings, Ltd. (wholly owned by Lin Kok Peng, Ph.D.) and other accredited investors and management adopting a new business plan based on developing highly advanced, proprietary, neural trading models for the financial community.

We offer trading software solutions to clients on the basis of a "Software as a Service (SaaS)" licensing and delivery models with licensed users availing themselves of service-based contractual arrangements. In addition, we will utilize our in-house proprietary neural trading models to trade our own funds, thus providing added value to our shareholders.

The Company's focus is to capitalize the large volume of the 24 hours Forex markets to achieve capital appreciation over a medium to long term combined with the usage of a good wealth vehicle in order to control risk, profit from both bull or bear markets, maximize liquidity and economic resilience.

On January 21, 2015, Lin Kok Peng resigned from the position of Secretary of the Company while Scott C. Kline was appointed as the Secretary, replacing Lin Kok Peng, and as General Counsel of the Company.

On January 23, 2015, the Company filed a Certificate of Amendment with the Secretary of State of the State of Nevada effecting a name change of the Company from DM Products, Inc. to New Asia Holdings, Inc. (the "Name Change"). The Company notified the Financial Industry Regulatory Authority ("FINRA") of the Name Change and a new trading symbol, "NAHD", was assigned effective February 13, 2015 as well as a new CUSIP number (64202A109) for the Company's common stock.

On August 19, 2015, the Board of Directors of the Company approved a resolution acknowledging that New Asia Holdings Ltd, the principal controlling shareholder of the Company, (i) had been advancing funds in the amount of $220,000 to the Company since December 24, 2014 to pay for operating expenses of the Company and (ii) would be required to advance an additional $80,000 to the Company to fund further operating expenses of the Company. The Board further resolved that these advances would constitute an interest-free loan to the Company to be repaid by the close of business on October 31, 2015. However, if the Company was unable to repay these advances by such date, New Asia Holdings Ltd, at its sole discretion, would have the option to extend the repayment deadline or convert all or a portion of the above advances into common stock of the Company at a conversion price of $0.02 per share. As of September 30, 2016, the principal shareholder, New Asia Holdings Ltd, had not yet acted to exercise its option to convert the advances to shares of common stock, thus the Advances presently remain as an interest-free loan to the Company.

On August 28, 2015, the Company completed the acquisition of Magdallen Quant Pte Ltd., a Singapore-based company, which is focused on the research, development and deployment of advanced, proprietary, trainable trading algorithms. The acquisition was accomplished through a share exchange with Mr. Anthony Ng Zi Qin of 7,422,000 new restricted shares of common stock of the Company with a fair value of $3,043,020 in exchange for the entire issued and outstanding capital of Magdallen Quant Pte Ltd., held by Mr. Anthony Ng Zi Qin, consisting of 8,000,100 shares issued at par value of SGD$1.00 per share, or USD$0.714 on the acquisition date and additional contingent consideration of $4,099,837.

On September 7, 2015, Mr. Scott C. Kline ("Mr. Kline") resigned as Secretary and General Counsel of the Company. The resignation was not as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. On that date, Mr. Jose A. Capote ("Mr. Capote") was appointed to serve as the Company's Secretary and Vice President. There is no family relationship between Mr. Capote and any of the Company's directors or officers. Mr. Capote is currently a shareholder of the Company through his 50% ownership of Earth Heat Ltd.

On August 19, 2016, the Company entered into an Addendum to the Magdallen Quant Pte Ltd Share and Purchase Agreement with Mr. Anthony Ng Zi Qin to extend the August 25, 2016 anniversary date for the adjustment of issued shares for an additional period of twelve (12) months.

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial information and with the instructions to Securities and Exchange Commission ("SEC") Form 10-Q and Article 8 of SEC Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included.  Operating results for the interim periods are not necessarily indicative of financial results for the full year.  These unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015.  In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods.  Actual results could differ from those estimates.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash, accounts payable, and advances from shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates, unless otherwise disclosed in these financial statements.

ASC Topic 820, "Fair Value Measurements and Disclosures," requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, "Financial Instruments," defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows:

·          Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

·          Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

·          Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company currently has a purchase price contingency.

At September 30, 2016, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value as of September 30, 2016	Fair Value Measurements at September 30, 2016 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	$5,806,897	$5,806,897	$–	$–
Total	$5,806,897	$5,806,897	$–	$–

At December 31, 2015, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value As of December 31, 2015	Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	5,658,457	5,658,457	-	-
Total	$5,658,457	$5,658,457	-	-

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Note 2: Going Concern

9 Months Ended

Sep. 30, 2016

Notes

Note 2: Going Concern

Note 2: Going Concern

The accompanying unaudited interim consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has substantial losses, has a working capital deficit of $343,832 (not including the contingent liability of $5,806,897), and is in need of additional capital to grow its operations so that it can become profitable. These matters, among others, raise substantial doubt about our ability to continue as a going concern. 

In view of these matters, the ability of the Company to continue as a going concern is dependent upon growth of revenues and the ability of the Company to raise additional capital. Management believes that its successful ability to raise capital and increases in revenues will provide the opportunity for the Company to continue as a going concern. The unaudited interim consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

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Note 3: Related Party Transactions

9 Months Ended

Sep. 30, 2016

Notes

Note 3: Related Party Transactions

Note 3: Related Party Transactions

There were advances in the amount of $99,421 from significant shareholders during the nine month period ended September 30, 2016.  The total advances due are $415,954 and $316,533 to the significant shareholders as of September 30, 2016 and December 31, 2015, respectively.  Pursuant to the Board resolutions described in Note 1 above, $316,533 of the advances constitute unsecured interest-free loans to the Company.  The advances accruing under the Board resolutions were supposed to have been repaid by the close of business on October 31, 2015. In 2015, however, in accordance with the Board resolutions, if the Company was unable to repay these advances by such date, New Asia Holdings Ltd, at its sole discretion, would have the option to extend the repayment deadline or convert all or a portion of the above advances into common stock of the Company at a conversion price of $0.02 per share. As of September 30, 2016, the principal shareholder, New Asia Holdings Ltd, had not yet acted to exercise its option to convert the advances to shares of common stock, thus the advances presently remain as an interest-free loan to the Company. The $99,421 borrowed during the nine-month period ended September 30, 2016 are non-interest bearing unsecured, and due on demand.

On September 7, 2015, Mr. Jose A. Capote ("Mr. Capote") was appointed to serve as the Company's Secretary and Vice President. There is no family relationship between Mr. Capote and any of the Company's directors or officers. Mr. Capote is currently a shareholder of the Company through his 50% ownership of Earth Heat Ltd. The Company has paid Mr. Capote consulting fees for acting in the capacity as Secretary and Vice President of the Company in the amount of $13,500 and $7,500 for the periods ended September 30, 2016 and September 30, 2015, respectively.

The Company pays New Asia Momentum Pte Ltd, a Singapore private company owned and controlled by Dr. Lin Kok Peng, Chairman and CEO of the Company fees for the rental of office space and for administrative services in its Singapore Headquarters. The Company has paid New Asia Momentum Pte Ltd $11,734 and -0- for the nine-month periods ended September 30, 2016 and 2015, respectively.

In November, 2015, Magdallen Quant Pte Ltd (MQL) the Company's wholly-owned subsidiary, entered into a Software License Agreement with New Asia Momentum Limited (NAML), a Company owned and controlled by NAHD's Chairman and CEO, Dr Lin Kok Peng. In consideration of MQL's performance, NAML(Client) agrees to pay MQL in accordance with the following provisions:

(i)       License and Other Fixed Price Fees as set forth below:

·          License fees shall be based on profits from the End Users' accounts. The license fee shall be calculated as follows: -

o         Where the asset under management from all End Users is less than US$ 10 million, fifteen percent (15%) only of the profits from the End Users' accounts;

o         If the asset under management from all End Users exceed US$10 million, MQL's fees shall be separately agreed on between MQL and Client, and if MQ and the Client are unable to agree on such apportionment, MQL shall still be entitled to fifteen percent (15%) only of the profits from the End Users' accounts;

o         On every anniversary date of this Agreement, parties will review the performance of the Licensed Software and may by mutual agreement between MQL and the Client vary the license fee. 

(ii)      Time & Material Fees: The charges for performance of any T&M tasks due to Work Orders will be billed monthly for charges incurred in the previous monthly period and are due and payable within thirty (30) days of the date of the invoice. Expenses may include, but are not limited to, reasonable charges for materials, office and travel expenses, graphics, documentation, research materials, computer laboratory and data processing, and out-of-pocket expenses reasonably required for performance. Expenses for travel and travel-related expenses and individual expenses in excess of US$500 require the prior approval of Client.

NAML paid MQL a total of $5,638, and $27,237 in related party revenue for the three and nine month period ended September 30, 2016, respectively. MQL has an accounts receivable balance with NAML of $4,152, and 0 for the period ending September 30, 2016 and December 31, 2015. NAHD has an accounts receivable from a related party with an office in common for rental payments made by the Company of $1,873 and $885 for the period ending September 30, 2016 and December 31, 2015.

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Note 4: Commitments and Contingencies

9 Months Ended

Sep. 30, 2016

Notes

Note 4: Commitments and Contingencies

Note 4: Commitments and Contingencies

The Company entered into an Office Service Agreement on May 4, 2016, with Real Office Centers 23 Corporate Center Plaza Suite 100/150 (doing business as ROC)). Under the terms of the agreement, ROC granted the Company a license to use the facilities and services of the Center at 15615 Alton Parkway Suite 450, Irvine, CA 92618. The basic terms of this agreement is for 12 months commencing July 1, 2016 ending June 30, 2017 with monthly fixed fees of $1,115.

The Company pays New Asia Momentum Pte Ltd, a Singapore private company owned and controlled by Dr. Lin Kok Peng, Chairman and CEO of the Company fees for the rental of office space and for administrative services in its Singapore Headquarters. The Company has paid New Asia Momentum Pte Ltd $11,734 and -0- for the nine-month periods ended September 30, 2016 and 2015, respectively.

Pursuant to the Sale & Purchase Agreement, and the addendum executed on August 19, 2016, relating to the Company's acquisition of issued and outstanding shares of Magdallen Quant Pte Ltd in exchange for new restricted shares of common stock of the Company, if the average trading price of the Company's shares based on the 7 days closing price over the period immediately before the second anniversary date (August 25, 2017) of this Agreement and the 7th day falling on the first anniversary date of the agreement is below USD $1.00, the Company shall issue additional shares to Anthony Ng Zi Qin to make up the difference between the value of the Consideration Shares based on such 7 days closing history and the sum of SGD 10,000,000. The difference between the fair value of the assets acquired and the value of the shares swapped ($4,099,837) as well as the negative change in the common stock share price ($1,707,060) for the period ended September 30, 2016 created a contingent liability in amount of $5,806,897 in U.S. Dollars. The negative change in common share price occurred because the stock price decreased from $0.20 per share as of June 30, 2016 to $0.18 per share as of September 30, 2016. The Company recorded a loss in change in fair value of $148,440 and $371,100 for the nine months ended September 30, 2016 and 2015, respectively.

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Note 1: Organization and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2016

Policies

Basis of Presentation

Basis of Presentation

The unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial information and with the instructions to Securities and Exchange Commission ("SEC") Form 10-Q and Article 8 of SEC Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included.  Operating results for the interim periods are not necessarily indicative of financial results for the full year.  These unaudited interim consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015.  In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods.  Actual results could differ from those estimates.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company's financial instruments consist of cash, accounts payable, and advances from shareholder. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates, unless otherwise disclosed in these financial statements.

ASC Topic 820, "Fair Value Measurements and Disclosures," requires disclosure of the fair value of financial instruments held by the Company. ASC Topic 825, "Financial Instruments," defines fair value, and establishes a three-level valuation hierarchy for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The three levels of valuation hierarchy are defined as follows:

·          Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.

·          Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

·          Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

The Company currently has a purchase price contingency.

At September 30, 2016, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value as of September 30, 2016	Fair Value Measurements at September 30, 2016 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	$5,806,897	$5,806,897	$–	$–
Total	$5,806,897	$5,806,897	$–	$–

At December 31, 2015, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value As of December 31, 2015	Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	5,658,457	5,658,457	-	-
Total	$5,658,457	$5,658,457	-	-

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Note 1: Organization and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2016

Tables/Schedules

Schedule of Fair Value Liabilities

At September 30, 2016, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value as of September 30, 2016	Fair Value Measurements at September 30, 2016 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	$5,806,897	$5,806,897	$–	$–
Total	$5,806,897	$5,806,897	$–	$–

At December 31, 2015, the Company identified the following liabilities that are required to be presented on the balance sheet at fair value:

Description	Fair Value As of December 31, 2015	Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy
		Level 1	Level 2	Level 3
Contingent consideration for business combination	5,658,457	5,658,457	-	-
Total	$5,658,457	$5,658,457	-	-

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Note 1: Organization and Summary of Significant Accounting Policies (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Aug. 28, 2015	Aug. 25, 2015	Aug. 19, 2015	Dec. 31, 2014
Entity Incorporation, Date of Incorporation	Mar. 01, 2001
Advance From Shareholder	$ 415,954	$ 316,533
Common Stock, shares outstanding	68,948,767	68,948,767
Share Price	$ 0.18		$ 0.20
Contingent Liability	$ 5,806,897	$ 5,658,457
Magdallen Quant Pte. Ltd
Business acquisition date		Aug. 28, 2015
Common Stock, shares outstanding					8,000,100
Share Price					$ 0.714
Contingent Liability				$ 4,099,837
Magdallen Quant Pte. Ltd | Common Stock
Stock Issued During Period, Shares, Acquisitions		7,422,000
Stock Issued During Period, Value, Acquisitions		$ 3,043,020
New Asia Holdings Limited
Ownership percentage acquired							90.00%
Date of name change	Jan. 23, 2015
Debt Instrument, Maturity Date		Oct. 31, 2015
Debt Instrument, Convertible, Conversion Price	$ 0.02					$ 0.02
New Asia Holdings Limited | Advance 1
Advance From Shareholder						$ 220,000
New Asia Holdings Limited | Advance 2
Advance From Shareholder						$ 80,000

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Note 1: Organization and Summary of Significant Accounting Policies: Fair Value of Financial Instruments: Schedule of Fair Value Liabilities (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Liabilities, Fair Value Disclosure, Recurring	$ 5,806,897	$ 5,658,457
Fair Value, Inputs, Level 1
Liabilities, Fair Value Disclosure, Recurring	5,806,897	5,658,457
Fair Value, Inputs, Level 2
Liabilities, Fair Value Disclosure, Recurring	0	0
Fair Value, Inputs, Level 3
Liabilities, Fair Value Disclosure, Recurring	0	0
Contingent consideration for business combination
Liabilities, Fair Value Disclosure, Recurring	5,806,897	5,658,457
Contingent consideration for business combination | Fair Value, Inputs, Level 1
Liabilities, Fair Value Disclosure, Recurring	5,806,897	5,658,457
Contingent consideration for business combination | Fair Value, Inputs, Level 2
Liabilities, Fair Value Disclosure, Recurring	0	0
Contingent consideration for business combination | Fair Value, Inputs, Level 3
Liabilities, Fair Value Disclosure, Recurring	$ 0	$ 0

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Note 2: Going Concern (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Details
Working Capital Deficit	$ (343,832)
Contingent Liability	$ 5,806,897	$ 5,658,457

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Note 3: Related Party Transactions (Details) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Aug. 19, 2015	Dec. 31, 2014
Increase (Decrease) in Due to Officers and Stockholders		$ 99,421
Advance From Shareholder	$ 415,954	415,954		$ 316,533
Service Income from related party	5,638	27,237
Accounts Receivable (from related party)	$ 6,025	$ 6,025		$ 885
Stockholder
Debt Instrument, Maturity Date		Oct. 31, 2015
New Asia Holdings Limited
Debt Instrument, Maturity Date				Oct. 31, 2015
Debt Instrument, Convertible, Conversion Price	$ 0.02	$ 0.02			$ 0.02
Ownership percentage acquired						90.00%
Earth Heat Ltd.
Ownership percentage acquired	50.00%	50.00%
Vice President
Administrative Fees Expense		$ 13,500	$ 7,500
New Asia Momentum Limited
Operating Leases, Rent Expense		11,734	$ 0
Service Income from related party	$ 5,638	27,237
Accounts Receivable (from related party)	4,152	$ 4,152		$ 0
New Asia Momentum Limited | Magdallen Quant Pte. Ltd
Software License Agreement		(i) License and Other Fixed Price Fees as set forth below: · License fees shall be based on profits from the End Users' accounts. The license fee shall be calculated as follows: - o Where the asset under management from all End Users is less than US$ 10 million, fifteen percent (15%) only of the profits from the End Users' accounts; o If the asset under management from all End Users exceed US$10 million, MQL's fees shall be separately agreed on between MQL and Client, and if MQ and the Client are unable to agree on such apportionment, MQL shall still be entitled to fifteen percent (15%) only of the profits from the End Users' accounts; o On every anniversary date of this Agreement, parties will review the performance of the Licensed Software and may by mutual agreement between MQL and the Client vary the license fee. (ii) Time & Material Fees: The charges for performance of any T&M tasks due to Work Orders will be billed monthly for charges incurred in the previous monthly period and are due and payable within thirty (30) days of the date of the invoice. Expenses may include, but are not limited to, reasonable charges for materials, office and travel expenses, graphics, documentation, research materials, computer laboratory and data processing, and out-of-pocket expenses reasonably required for performance. Expenses for travel and travel-related expenses and individual expenses in excess of US$500 require the prior approval of Client.
Related Party with Office in Common
Accounts Receivable (from related party)	$ 1,873	$ 1,873		$ 885

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Note 4: Commitments and Contingencies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Dec. 31, 2015	Aug. 28, 2015	Aug. 25, 2015
Contingent Liability	$ 5,806,897		$ 5,806,897			$ 5,658,457
Share Price	$ 0.18		$ 0.18		$ 0.20
Change in fair value of Contingent Liabilities	$ (148,440)	$ (371,100)	$ (148,440)	$ (371,100)
Difference between Fair Value and Share Value
Contingent Liability	4,099,837		4,099,837
Change in Share Value
Contingent Liability	$ (1,707,060)		$ (1,707,060)
Magdallen Quant Pte. Ltd
Business Combination, Contingent Consideration Arrangements, Description			if the average trading price of the Company's shares based on the 7 days closing price over the period immediately before the second anniversary date (August 25, 2017) of this Agreement and the 7th day falling on the first anniversary date of the agreement is below USD $1.00, the Company shall issue additional shares to Anthony Ng Zi Qin to make up the difference between the value of the Consideration Shares based on such 7 days closing history and the sum of SGD 10,000,000.
Contingent Liability							$ 4,099,837
Share Price								$ 0.714
New Asia Momentum Limited
Operating Leases, Rent Expense			$ 11,734	$ 0
PBC 8105 Irvine Center, LLC
Debt Instrument, Periodic Payment			$ 1,115