Delaware
|
98-0360626
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
Balance Sheets at September 30, 2013 (Unaudited) and December 31, 2012
|
F-1
|
Statements of Operations for the three months and nine months ended September 30, 2013 and 2012, and the cumulative totals from July 28, 2005 (Inception) to September 30, 2013 (Unaudited)
|
F-2
|
Statement of Cash Flows for the nine months ended September 30, 2013 and 2012, and the cumulative totals from July 28, 2005 (Inception) to September 30, 2013 (Unaudited)
|
F-3
|
Notes to the (Unaudited) Interim Financial Statements
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F-4
|
September 30,
2013
|
December 31,
2012
|
|||||||
ASSETS
|
||||||||
Current Assets
|
||||||||
Cash
|
$
|
199
|
$
|
322
|
||||
Total Assets
|
$
|
199
|
$
|
322
|
||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
||||||||
Current Liabilities
|
||||||||
Accounts payable and accrued liabilities
|
$
|
3,122
|
$
|
17,947
|
||||
Due to related parties
|
123,114
|
79,889
|
||||||
Total Liabilities
|
126,236
|
97,836
|
||||||
Stockholders’ Deficit
|
||||||||
Preferred Stock, 20,000,000 shares authorized, $0.0001 par value; No shares issued and outstanding
|
—
|
—
|
||||||
Common Stock, 80,000,000 shares authorized $0.0006 par value; 2,396,680 shares issued and outstanding as of September 30, 2013 and December 31, 2012
|
1,438
|
1,438
|
||||||
Additional Paid-in Capital
|
315,895
|
315,895
|
||||||
Deficit Accumulated During the Development Stage
|
(443,370
|
)
|
(414,847
|
)
|
||||
Total Stockholders’ Deficit
|
(126,037
|
)
|
(97,514
|
)
|
||||
Total Liabilities and Stockholders’ Deficit
|
$
|
199
|
$
|
322
|
For the
Three Months
Ended
September 30,
2013
|
For the
Three Months
Ended
September 30,
2012
|
For the
Nine Months
Ended
September 30,
2013
|
For the
Nine Months
Ended
September 30,
2012
|
From
July 28,
2005
(Date of Inception)
to
September 30,
2013
|
||||||||||||||||
Revenue
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
24,962
|
||||||||||
Cost of Revenue
|
–
|
–
|
-
|
–
|
(24,776
|
)
|
||||||||||||||
Gross Profit
|
—
|
—
|
—
|
—
|
186
|
|||||||||||||||
Expenses
|
||||||||||||||||||||
General and administrative
|
4,750
|
10,275
|
28,523
|
32,686
|
443,556
|
|||||||||||||||
Total Expenses
|
4,750
|
10,275
|
28,523
|
32,686
|
443,556
|
|||||||||||||||
Net Loss
|
$
|
(4,750
|
)
|
$
|
(10,275
|
)
|
$
|
(28,523
|
)
|
$
|
(32,686
|
)
|
$
|
(443,370
|
)
|
|||||
Net Loss Per Common Share – Basic and Diluted
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.01
|
)
|
$
|
(0.01
|
)
|
||||||||
Weighted Average Common Shares Outstanding
|
2,396,680
|
2,396,680
|
2,396,680
|
2,396,680
|
For the
Nine Months
Ended
September 30,
2013
|
For the
Nine Months
Ended
September 30,
2012
|
From
July 28,
2005
(Date of Inception)
to September 30,
2013
|
||||||||||
Operating Activities
|
||||||||||||
Net loss for the period
|
$
|
(28,523
|
)
|
$
|
(32,686
|
)
|
$
|
(443,370
|
)
|
|||
Adjustment to reconcile net loss to net cash used in operating activities:
|
||||||||||||
Stock issued for consulting services
|
—
|
—
|
196,280
|
|||||||||
Changes in operating assets and liabilities:
|
||||||||||||
Accounts payable and accrued liabilities
|
(14,825
|
)
|
861
|
18,122
|
||||||||
Net Cash Used In Operating Activities
|
(43,348
|
)
|
(31,825
|
)
|
(228,968
|
)
|
||||||
Financing Activities
|
||||||||||||
Advances from related parties
|
43,225
|
32,030
|
139,134
|
|||||||||
Repayments to related parties
|
—
|
—
|
(16,020
|
)
|
||||||||
Proceeds from issuance of common stock
|
—
|
—
|
106,053
|
|||||||||
Net Cash Provided by Financing Activities
|
43,225
|
32,030
|
229,167
|
|||||||||
Net Increase (Decrease) in Cash
|
(123
|
)
|
205
|
199
|
||||||||
Cash - Beginning of Period
|
322
|
195
|
—
|
|||||||||
Cash - Ending of Period
|
$
|
199
|
$
|
400
|
$
|
199
|
||||||
Non-cash Transactions:
|
||||||||||||
Stock issued for settlement of accounts payable
|
$
|
—
|
$
|
—
|
$
|
15,000
|
||||||
Supplemental Disclosures:
|
||||||||||||
Interest paid
|
$
|
—
|
$
|
—
|
$
|
—
|
||||||
Income taxes paid
|
$
|
—
|
$
|
—
|
$
|
—
|
Item Number
|
Description
|
|
(31)
|
|
Section 302 Certification
|
31.1*
|
|
Certification of Chief Executive Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
31.2*
|
|
Certification of Chief Financial Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
(32)
|
|
Section 906 Certification
|
32.1*
|
|
Certification of Chief Executive Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
32.2*
|
|
Certification of Chief Financial Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
101 INS
|
XBRL Instance Document**
|
|
101 SCH
|
XBRL Schema Document**
|
|
101 CAL
|
XBRL Calculation Linkbase Document**
|
|
101 DEF
|
XBRL Definition Linkbase Document**
|
|
101 LAB
|
XBRL Labels Linkbase Document**
|
|
101 PRE
|
XBRL Presentation Linkbase Document**
|
|
**
|
The XBRL related information in Exhibit 101 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability of that section and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
|
China Tianfeihong Wine Inc.
|
|
(Registrant)
|
|
Date: November 14, 2013
|
/s/ Zhiliang Fang
|
Chief Executive Officer
|
|
/s/ Lirong Zheng
|
|
Chief Financial Officer
|
1.
|
I have reviewed this Form 10-Q of CHINA TIANFEIHONG WINE 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 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.
|
I am 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.
|
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.
|
Zhiliang Fang
|
Chief Executive Officer
|
1.
|
I have reviewed this Form 10-Q of CHINA TIANFEIHONG WINE 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 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.
|
I am 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.
|
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.
|
Lirong Zheng
Chief Financial Officer
|
(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.
|
Zhiliang Fang
|
Chief Executive Officer
|
(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.
|
Lirong Zheng
Chief Financial Officer
|
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STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended | 9 Months Ended | 98 Months Ended | ||
---|---|---|---|---|---|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
|
STATEMENTS OF OPERATIONS | |||||
Revenue | $ 24,962 | ||||
Cost of Revenue | (24,776) | ||||
Gross Profit | 186 | ||||
General and administrative | 4,750 | 10,275 | 28,523 | 32,686 | 443,556 |
Total Expenses | 4,750 | 10,275 | 28,523 | 32,686 | 443,556 |
Net Loss | $ (4,750) | $ (10,275) | $ (28,523) | $ (32,686) | $ (443,370) |
Net Loss Per Common Share - Basic and Diluted | $ 0.00 | $ 0.00 | $ (0.01) | $ (0.01) | |
Weighted Average Common Shares Outstanding | 2,396,680 | 2,396,680 | 2,396,680 | 2,396,680 |
5. Subsequent Events
|
9 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes | |
5. Subsequent Events | 5. Subsequent Events
The Company has evaluated events after the date of these financial statements through the date these financial statements were issued. There were no other material subsequent events as of that date. |
1. Basis of Presentation
|
9 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes | |
1. Basis of Presentation | 1. Basis of Presentation
The accompanying unaudited financial statements of China Tianfeihong Wine Inc. (the Company) have been prepared in accordance with accounting principles generally accepted in United States of America and the rules of the Securities and Exchange Commission (SEC), and should be read in conjunction with the audited financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year ended December 31, 2012 have been omitted.
The accompanying financial statements are unaudited. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for all periods presented have been made. |
3. Related Party Transactions
|
9 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes | |
3. Related Party Transactions | 3. Related Party Transactions
As of September 30, 2013 and December 31, 2012, the Company was indebted to the officers of the Company for $123,114 and $79,889, respectively, for expenses paid on behalf of the Company. |
3. Related Party Transactions (Details) (USD $)
|
Sep. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
Details | ||
Due to related parties | $ 123,114 | $ 79,889 |
4. Commitment
|
9 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes | |
4. Commitment | 4. Commitment
On March 3, 2010, the Company entered into a license agreement with Guang Wei Qu (the "Licensor"), the owner of a patent in the Peoples Republic of China for an environment-friendly floral sleeve product (the Patent). The Licensor granted an exclusive world-wide license to the Company to use the Patent and to manufacture, distribute, market, sell, lease and/or license or sub-license all products derived or developed from such Patent. In exchange, the Company will pay 12% of all product revenues as royalty fees on a quarterly basis. |
BALANCE SHEETS PARENTHETICAL (USD $)
|
Sep. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
BALANCE SHEETS PARENTHETICAL | ||
Preferred stock par value | $ 0.0001 | $ 0.0001 |
Preferred stock shares authorized | 20,000,000 | 20,000,000 |
Preferred stock shares issued | ||
Preferred stock shares outstanding | ||
Common stock par value | $ 0.0006 | $ 0.0006 |
Common stock shares authorized | 80,000,000 | 80,000,000 |
Common stock shares issued | 2,396,680 | 2,396,680 |
Common stock shares outstanding | 2,396,680 | 2,396,680 |
STATEMENTS OF CASH FLOWS (USD $)
|
9 Months Ended | 98 Months Ended | |
---|---|---|---|
Sep. 30, 2013
|
Sep. 30, 2012
|
Sep. 30, 2013
|
|
STATEMENTS OF CASH FLOWS | |||
Net loss for the period | $ (28,523) | $ (32,686) | $ (443,370) |
Stock issued for consulting services | 196,280 | ||
Change in Accounts payable and accrued liabilities | (14,825) | 861 | 18,122 |
Net Cash Used In Operating Activities | (43,348) | (31,825) | (228,968) |
Advances from related parties | 43,225 | 32,030 | 139,134 |
Repayments to related parties | (16,020) | ||
Proceeds from issuance of common stock | 106,053 | ||
Net Cash Provided by Financing Activities | 43,225 | 32,030 | 229,167 |
Net Increase (Decrease) in Cash | (123) | 205 | 199 |
Cash - Beginning of Period | 322 | 195 | |
Cash - Ending of Period | 199 | 400 | 199 |
Stock issued for settlement of accounts payable | 15,000 | ||
Interest paid | |||
Income taxes paid |
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BALANCE SHEETS (USD $)
|
Sep. 30, 2013
|
Dec. 31, 2012
|
---|---|---|
BALANCE SHEETS | ||
Cash | $ 199 | $ 322 |
Total Assets | 199 | 322 |
Accounts payable and accrued liabilities | 3,122 | 17,947 |
Due to related parties | 123,114 | 79,889 |
Total Liabilities | 126,236 | 97,836 |
Preferred Stock, 20,000,000 shares authorized, $0.0001 par value; No shares issued and outstanding | ||
Common Stock, 80,000,000 shares authorized $0.0006 par value; 2,396,680 shares issued and outstanding as of September 30, 2013 and December 31, 2012 | 1,438 | 1,438 |
Additional Paid-in Capital | 315,895 | 315,895 |
Deficit Accumulated During the Development Stage | (443,370) | (414,847) |
Total Stockholders' Deficit | (126,037) | (97,514) |
Total Liabilities and Stockholders' Deficit | $ 199 | $ 322 |
2. Going Concern
|
9 Months Ended |
---|---|
Sep. 30, 2013
|
|
Notes | |
2. Going Concern | 2. Going Concern
These financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated significant revenue since inception and has never paid any dividends and is unlikely to pay dividends or generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. As at September 30, 2013, the Company has accumulated losses since inception and has a working capital deficit. These factors raise substantial doubt regarding the Companys ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Document and Entity Information
|
9 Months Ended | |
---|---|---|
Sep. 30, 2013
|
Nov. 12, 2013
|
|
Document and Entity Information: | ||
Entity Registrant Name | CHINA TIANFEIHONG WINE INC | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2013 | |
Amendment Flag | false | |
Entity Central Index Key | 0001501225 | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 2,396,680 | |
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 | 2013 | |
Document Fiscal Period Focus | Q3 |