0001640334-16-001965.txt : 20161114 0001640334-16-001965.hdr.sgml : 20161111 20161114115212 ACCESSION NUMBER: 0001640334-16-001965 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161114 DATE AS OF CHANGE: 20161114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LOVE INTERNATIONAL GROUP, INC. CENTRAL INDEX KEY: 0001605780 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 800929366 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55642 FILM NUMBER: 161992402 BUSINESS ADDRESS: STREET 1: 26 FLOOR, ONE HARBOUR SQUARE, STREET 2: 181 HOI BUN ROAD, KWUN TONG, KOWLOON CITY: HONG KONG STATE: K3 ZIP: 00000 BUSINESS PHONE: (852) 2697 7733 MAIL ADDRESS: STREET 1: 26 FLOOR, ONE HARBOUR SQUARE, STREET 2: 181 HOI BUN ROAD, KWUN TONG, KOWLOON CITY: HONG KONG STATE: K3 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: QUINTEC CORP DATE OF NAME CHANGE: 20140416 10-Q 1 lovv_10q.htm FORM 10-Q lovv_10q.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

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

 

For the transition period from __________ to ____________

 

Commission File No.: 000-55642

 

LOVE INTERNATIONAL GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Nevada

80-0929366

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

 

26 Floor, One Harbour Square, 181 Hoi Bun Road,

Kwun Tong, Kowloon, Hong Kong

(Address of principal executive offices) (Zip Code)

 

+852 2697 7733

(Registrant's telephone number, including area code)

 

N/A

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

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer

¨

Accelerated filer

¨

Non-accelerated filer

¨ (Do not check if a smaller reporting company)

Smaller reporting company

x

 

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

 

As of November 10, 2016, there were 289,333,360 shares of the issuer's common stock, par value $0.0001, outstanding.

 

 

 
 
 

 

LOVE INTERNATIONAL GROUP, INC.

 

FORM 10-Q

FOR THE PERIOD ENDED SEPTEMBER 30, 2016

TABLE OF CONTENTS

 

PART I FINANCIAL INFORMATION

Item 1.

Financial Statements for the period ended September 30, 2016

 

3

Condensed Balance Sheets as of September 30, 2016 (Unaudited), December 31, 2015 and September 30, 2015 (Unaudited)

3

Unaudited Condensed Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2016 and 2015

4

Unaudited Condensed Statements of Changes in Stockholders' Equity (Deficit)

5

Unaudited Condensed Statements of Cash Flows for the nine months ended September 30, 2016 and 2015

6

Notes to Unaudited Condensed Financial Statements

7

Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

13

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

18

Item 4.

Controls and Procedures

18

PART II OTHER INFORMATION

Item 1.

Legal Proceedings

19

Item 1A.

Risk Factor

19

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

19

Item 3.

Defaults Upon Senior Securities

19

Item 4.

Mine Safety Disclosures

19

Item 5.

Other Information

19

Item 6.

Exhibits

20

Signatures

21

 

 
2
 

 

PART I.

FINANCIAL INFORMATION

 

Item 1. Financial Statements for the Period Ended September 30, 2016.

 

LOVE INTERNATIONAL GROUP, INC.

Condensed Balance Sheets

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

ASSETS

 

(Unaudited)

 

 

 

 

 

(Unaudited)

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$-

 

 

$150

 

 

$294

 

Deposits and prepaid expenses

 

 

12,602

 

 

 

-

 

 

 

-

 

Total current assets

 

 

12,602

 

 

 

150

 

 

 

294

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROPERTY AND EQUIPMENT

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net of nil, nil and $924 accumulated depreciation, respectively

 

 

-

 

 

 

-

 

 

 

493

 

TOTAL ASSETS

 

$12,602

 

 

$150

 

 

$787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$730

 

 

$9,609

 

 

$6,168

 

Due to related parties

 

 

84,905

 

 

 

19,499

 

 

 

5,167

 

Total current liabilities

 

 

85,635

 

 

 

29,108

 

 

 

11,335

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS' DEFICIT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 289,333,360 shares issued and outstanding*

 

 

28,933

 

 

 

28,933

 

 

 

28,933

 

Additional paid-in capital

 

 

33,383

 

 

 

33,383

 

 

 

17,867

 

Accumulated deficit

 

 

(135,349)

 

 

(91,274)

 

 

(57,348)

TOTAL STOCKHOLDERS' DEFICIT

 

 

(73,033)

 

 

(28,958)

 

 

(10,548)

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT

 

$12,602

 

 

$150

 

 

$787

 


*Post a forward ten for one stock split effective on February 5, 2016.

 

The accompanying notes are an integral part of these condensed financial statements.

 

 
3
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LOVE INTERNATIONAL GROUP, INC.

Condensed Statements of Operation and Comprehensive Loss

(Unaudited)

 

 

 

Three months ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$-

 

 

$-

 

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

General and administrative

 

 

115

 

 

 

215

 

 

 

697

 

 

 

810

 

Professional fees

 

 

5,025

 

 

 

5,450

 

 

 

43,378

 

 

 

26,209

 

Total Expenses

 

 

5,140

 

 

 

5,665

 

 

 

44,075

 

 

 

27,019

 

Loss before income taxes

 

 

(5,140)

 

 

(5,665)

 

 

(44,075)

 

 

(27,019)

Income tax

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

NET LOSS

 

$(5,140)

 

$(5,665)

 

$(44,075)

 

$(27,019)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BASIC AND DILUTED LOSS PER SHARE

 

$(0.00)

 

$(0.00)

 

$(0.00)

 

$(0.00)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED*

 

 

289,333,360

 

 

 

289,333,360

 

 

 

289,333,360

 

 

 

289,333,360

 

 

*Post a forward ten for one stock split effective on February 5, 2016.

 

The accompanying notes are an integral part of these condensed financial statements.

 

 
4
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LOVE INTERNATIONAL GROUP, INC.

Condensed Statements of Changes in Stockholders' Equity (Deficit)

(Unaudited)

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

Total

 

 

 

Common stock

 

 

Paid-in

 

 

Accumulated

 

 

Stockholders'

 

 

 

Shares*

 

 

Amount

 

 

Capital

 

 

Deficit

 

 

Equity (Deficit)

 

Balance, January 1, 2016

 

 

289,333,360

 

 

$28,933

 

 

$33,383

 

 

$(91,274)

 

$(28,958)

Net loss

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(44,075)

 

 

(44,075)

Balance, September 30, 2016

 

 

289,333,360

 

 

$28,933

 

 

$33,383

 

 

$(135,349)

 

$(73,033)

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

Total

 

 

 

Common stock

 

 

Paid-in

 

 

Accumulated

 

 

Stockholders'

 

 

 

Shares*

 

 

Amount

 

 

Capital

 

 

Deficit

 

 

Equity (Deficit)

 

Balance, February 1, 2015

 

 

289,333,360

 

 

$28,933

 

 

$17,867

 

 

$(35,966)

 

$10,834

 

Adjustment for fiscal year-end change (note 2) – net loss in January 2015

 

 

-

 

 

 

-

 

 

 

-

 

 

 

5,637

 

 

 

5,637

 

Balance, January 1, 2015

 

 

289,333,360

 

 

 

28,933

 

 

 

17,867

 

 

 

(30,329)

 

 

16,471

 

Net loss

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(27,019)

 

 

(27,019)

Balance, September 30, 2015

 

 

289,333,360

 

 

$28,933

 

 

$17,867

 

 

$(57,348)

 

$(10,548)

 

*Post a forward ten for one stock split effective on February 5, 2016.

 

The accompanying notes are an integral part of these condensed financial statements.

 

 
5
Table of Contents

 

LOVE INTERNATIONAL GROUP, INC.

Condensed Statements of Cash Flows

(Unaudited)

 

 

 

Nine months ended

September 30,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

Net loss

 

$(44,075)

 

$(27,019)

Adjustment to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation expense

 

 

-

 

 

 

375

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Deposits and prepaid expenses

 

 

(12,602)

 

 

95

 

Accounts payable and accrued liabilities

 

 

(8,879)

 

 

1,720

 

CASH USED IN OPERATING ACTIVITIES

 

 

(65,556)

 

 

(24,829)

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Advances from related parties

 

 

65,406

 

 

 

4,400

 

Proceeds from the sale of common stock for cash

 

 

-

 

 

 

4,500

 

CASH PROVIDED BY FINANCING ACTIVITIES

 

 

65,406

 

 

 

8,900

 

 

 

 

 

 

 

 

 

 

NET CHANGE IN CASH

 

 

(150)

 

 

(15,929)

 

 

 

 

 

 

 

 

 

CASH BEGINNING OF PERIOD

 

 

150

 

 

 

16,223

 

 

 

 

 

 

 

 

 

 

CASH END OF PERIOD

 

$-

 

 

$294

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW DISCLOSURES

 

 

 

 

 

 

 

 

Interest paid

 

$-

 

 

$-

 

Income taxes paid

 

$-

 

 

$-

 

 

The accompanying notes are an integral part of these condensed financial statements.


 
6
Table of Contents

 

LOVE INTERNATIONAL GROUP, INC.

Notes to the Condensed Financial Statements

(Unaudited)

 

NOTE 1. ORGANIZATION, PRINCIPAL ACTIVITIES AND BASIS OF PREPARATION

 

Love International Group, Inc. (formerly known as QUINTEC CORP.) ("we", "us", "our" or the "Company") was incorporated on May 23, 2013 under the laws of the State of Nevada. On November 11, 2015, a change in control of the Company occurred, whereby Walter Lee, the-then sole officer and director, sold 15,000,000 of his shares of common stock, representing 51.8% of the voting power of the issued and outstanding capital stock of the Company, in a private transaction to Yong Qiang Yang (8,250,000 shares) and Wei Min Jin (6,750,000 shares), who subsequently became officers and directors of the Company. Mr. Lee sold the remainder of his shares (5,000,000 shares) to other individuals in separate transactions not involving a public sale or distribution. After the sale of stock, Walter Lee had no further ownership of any voting securities of the Company.

 

On November 30, 2015, the Company accepted the resignation of Walter Lee from his positions as President, Chief Executive Officer, Chief Financial Officer and member of the Board of Directors. The Board of Directors appointed Yong Qiang Yang as President of the Company, and as a member of the Board of Directors, and Wei Min Jin as Chief Financial Officer and Secretary of the Company and a member of the Board of Directors, effective November 30, 2015.

 

All references above to share and per share data have not been adjusted to give effect of the forward stock split (see below).

 

On February 4, 2016, the Financial Industry Regulatory Authority approved: (a) changing the name of the Company to Love International Group, Inc. ("Name Change"); (b) increasing the aggregate number of authorized shares of Common Stock of the Company from one hundred and fifty million (150,000,000) shares, par value $0.001, to one billion (1,000,000,000) shares, par value $0.0001 per share ("Authorized Share Increase"); (c) a 10-for-1 forward stock split ("Forward Split"; together with the Name Change and Authorized Share Increase, the "Corporate Actions") of the issued and outstanding shares of Common Stock of the Company; and (d) a new trading symbol of LOVV.

 

On February 5, 2016, the Corporate Actions became effective and the issued and outstanding shares of common stock of the Company became 289,333,360.

 

On March 7, 2016, the trading symbol changed to LOVV and a new CUSIP number (54714U107) was assigned to the Company's common stock.

 

On May 18, 2016, the Company shifted its business focus from developing and launching an online, cross-border e-commerce platform to promote and market worldwide premium specialties and other well-known branded products with highly comparable discount pricing to developing and launching an online platform to promote cheap airline tickets and hotels as well as developing and launching a "Do-It-Yourself" ("DIY") system for the Company's customers to put together a trip with exotic activities such as hunting, flying a plane, or even piloting a submarine.

 

The Company anticipates the prices of the airline tickets and hotel rooms promoted on its online platform will be priced competitively, if not lower, than the marketplace as the Company plans on partnering with some of the airlines and big airline ticket wholesalers. As for the DIY system, the Company anticipates gaining market share based on the originality and specialty of the travel activities to be offered on the Company's online platform through local travel companies and/or travel specialists that the Company is going to partner with.

 

In the beginning, the Company anticipates targeting potential customers in mainland China and Hong Kong as to the promotion of airline tickets and hotel rooms. The airline tickets and hotel booking selections may be limited upon the launch of the Company's online platform. The Company anticipates focusing the DIY activities upon the launch of the online platform in South East Asia, Canada, United States and Australia.

 

 
7
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The Company does not yet have any operations and the development of its business is speculative. The Company will require additional financing, either through a stock offering, or standard or convertible debt. Until and unless it is able to secure adequate financing, its business development will be curtailed.

 

The Company had a working capital deficiency and accumulated deficit from recurring net losses as of December 31, 2015 and September 30, 2016. These factors raise substantial doubts about the Company's ability to continue as a going concern. The Company plans to raise additional funds through financing, either through a stock offering, or standard or convertible debt, in the future to meet its daily cash demands if required. However, there can be no assurance that the Company will be successful in obtaining further financing.

 

The accompanying financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty related to the Company's ability to continue as a going concern.

 

We have not generated any operating revenues to date.

 

All common share and per share amounts disclosed herein and in the accompanying financial statements have been retroactively restated to reflect the forward stock split, except as otherwise provided herein.

 

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

 

The interim condensed financial information as of September 30, 2016 and for the three and nine month periods ended September 30, 2016 and 2015 have been prepared without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial information should be read in conjunction with the Financial Statements and the notes thereto, included in the Company's Transition Report on Form 10-K for the eleven-month transition period ended December 31, 2015, previously filed with the SEC on March 24, 2016.

 

On January 20, 2016, the Company elected to change its fiscal year end from January 31 to December 31. As a result of this change, the Company's fiscal year 2015 was an 11-month transition period ending on December 31, 2015. See Note 2 to the Financial Statements included in the Company's Transition Report on Form 10-K on the eleven-month transition period ended December 31, 2015. As a result of this change, in these condensed financial statements, including the notes thereto, the Company reported its financial results for the three and nine month periods ending September 30, 2016 with corresponding results for the fiscal periods ended September 30, 2015.

 

In the opinion of management, all adjustments (which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company's interim condensed financial position as of September 30, 2016, its interim condensed results of operations and comprehensive loss for the three and nine month periods ended September 30, 2016 and 2015, as applicable, and its interim condensed results of cash flows for the nine month periods ended September 30, 2016 and 2015, as applicable, have been made. The interim results of operations are not necessarily indicative of the operating results for the full fiscal year or any future periods.

 

Estimates and Assumptions

 

The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.

 

 
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Foreign Currency Transactions

 

The reporting currency of the Company is the United States dollar ("U.S. Dollars"). The financial records of the Company are maintained in U.S. Dollars, which is the functional currency.

 

Monetary assets and liabilities denominated in currencies other than U.S. Dollars are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.

 

Cash and Cash Equivalents

 

Cash consists of cash on hand and in banks. The Company considers all highly liquid debt instruments, with initial terms of less than three months to be cash equivalents. As of September 30, 2016, December 31, 2015 and September 30, 2015, cash and cash equivalents consisted of only cash.

 

Fair Value Measurements

 

ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. The three levels of valuation hierarchy are defined as follows:

 

·

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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 assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

·

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

 

The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, balance with related parties and accounts payable and accrued liabilities approximate their fair values because of the short maturity of these instruments or the rate of interest of these instruments approximate the market rate of interest.

 

Property, Plant and Equipment

 

Property, plant and equipment are stated at cost less accumulated depreciation and impairment charges. Depreciation is computed using the diminishing balance method over the estimated useful lives of the assets as follows:

 

Equipment

3 years

 

The cost and accumulated depreciation of property, plant and equipment sold are removed from the balance sheets and resulting gains or losses are recognized in the statements of operations.

 

 
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Long-Lived Assets

 

Long-lived assets which include property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

 

Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

 

Stock-Based Compensation

 

The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. We did not grant any stock options since inception on May 23, 2013 through September 30, 2016.

 

Income Taxes

 

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations and comprehensive loss in the period that includes the enactment date.

 

The impact of an uncertain income tax positions on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

 

Basic and Diluted Loss per Share

 

Loss per share is computed using the weighted average number of shares outstanding during the period. We have adopted ASC 260, "Earnings per Share". Diluted loss per share for all the periods presented was the same as basic loss per share as there were no potential dilutive equity instruments.

 

New Accounting Pronouncements

 

In August 2014, the FASB issued ASU 2014-15, "Presentation of Financial Statements-Going concern (Subtopic 205-40) which provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. This guidance in ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect that the adoption will have a material impact on its financial statements.

 

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company's financial statements upon adoption.

 

 
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NOTE 3. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

Equipment

 

$-

 

 

$-

 

 

$1,417

 

Accumulated depreciation

 

 

-

 

 

 

-

 

 

 

924

 

Net property and equipment

 

$-

 

 

$-

 

 

$493

 

 

During the nine-month period ended September 30, 2016 and 2015, the Company incurred depreciation expense of $0 and $375, respectively. During the three-month period ended September 30, 2016 and 2015, the Company incurred depreciation expenses of $0 and $125, respectively.

 

NOTE 4. DUE TO RELATED PARTIES

 

Due to related parties consisted of the following:

 

 

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

Note

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Walter Lee, the Company’s ex-president and director

 

(a)

 

 

-

 

 

 

-

 

 

 

5,167

 

Love International Holdings Limited

 

(b)

 

$72,390

 

 

$6,984

 

 

$-

 

Love Global Online Limited

 

(b)

 

 

12,515

 

 

 

12,515

 

 

 

-

 

 

 

 

 

$84,905

 

 

$19,499

 

 

$5,167

 

_____________

(a)

As of September 30, 2015, the Company owed its ex-president and director $5,167 for incorporated fees he paid on its behalf.

 

 

(b)

Yong Qiang Yang and Wei Min Jin, both directors of the Company, have beneficial interests in these companies.

 

The above balances are unsecured, non-interest bearing and have no specific terms for repayment.

 

NOTE 5. STOCKHOLDERS' EQUITY

 

On February 5, 2016, a 10-for-1 forward stock split became effective and the aggregate number of shares was adjusted to 1,000,000,000, par value $0.0001 per share.

 

During the three-month and nine-month periods ended September 30, 2016, the Company did not issue any common stock.

 

As at September 30, 2016 and December 31, 2015, the Company had 289,333,360 shares issued and outstanding.

 

NOTE 6. INCOME TAXES

 

The Company is subject to a statutory tax rate of 34% under United States of America tax law. No provision for income taxes in the United States or elsewhere has been made as it had no taxable income since its inception.

 

The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax loss as follows:

 

 

 

Nine months ended

September 30,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

Loss before income taxes

 

$(44,075)

 

$(27,019)

Tax benefit at statutory rates

 

 

14,986

 

 

 

9,186

 

Change in valuation allowance

 

 

(14,986)

 

 

(9,186)

Net provision for income taxes

 

$-

 

 

$-

 

 

 
11
Table of Contents

 
Net deferred tax assets consist of the following components:

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

Deferred tax asset:

 

 

 

 

 

 

 

 

 

Net operating loss carry forwards

 

$46,020

 

 

$31,034

 

 

$19,498

 

Valuation allowance

 

 

(46,020)

 

 

(31,034)

 

 

(19,498)

Net deferred tax asset

 

$-

 

 

$-

 

 

$-

 

 

The Company has accumulated net operating loss carryovers of approximately $135,349 as of September 30, 2016 which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2034. The fiscal year 2015 remains open to examination by federal tax authorities and other tax jurisdictions.

 

NOTE 7. SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure.

  

 
12
Table of Contents

 

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

 

As used in this Form 10-Q, references to "Love International" the "Company," "we," "our" or "us" refer to Love International Group, Inc. (formerly known as Quintec Corp.), unless the context otherwise indicates.

 

Forward-Looking Statements

 

Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed herein as well as in the "Description of Business – Risk Factors" section in our Transition Report on Form 10-K, as filed on March 24, 2016. You should carefully review the risks described in our Transition Report on Form 10-K and in other documents we file from time to time with the Securities and Exchange Commission. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

 

Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.

 

Recent Developments

 

On November 11, 2015, a change in control of the Company occurred, whereby Walter Lee, the-then sole officer and director, sold 15,000,000 of his shares of common stock, representing 51.8% of the voting power of the issued and outstanding capital stock of the Company, in a private transaction to Yong Qiang Yang (8,250,000 shares) and Wei Min Jin (6,750,000 shares), who subsequently became officers and directors of the Company. Mr. Lee sold the remainder of his shares (5,000,000 shares) to other individuals in separate transactions not involving a public sale or distribution. After the sale of stock, Walter Lee had no further ownership of any voting securities of the Company.

 

On November 30, 2015, the Company accepted the resignation of Walter Lee from his positions as President, Chief Executive Officer, Chief Financial Officer and member of the Board of Directors. The Board of Directors appointed Yong Qiang Yang as President of the Company, and as a member of the Board of Directors, and Wei Min Jin as Chief Financial Officer and Secretary of the Company and a member of the Board of Directors, effective November 30, 2015.

 

All references above to share and per share data have not been adjusted to give effect of the forward stock split (see below).

 

On February 4, 2016, the Financial Industry Regulatory Authority approved: (a) changing the name of the Company to Love International Group, Inc. ("Name Change"); (b) increasing the aggregate number of authorized shares of Common Stock of the Company from one hundred and fifty million (150,000,000) shares, par value $0.001, to one billion (1,000,000,000) shares, par value $0.0001 per share ("Authorized Share Increase"); (c) a 10-for-1 forward stock split ("Forward Split"; together with the Name Change and Authorized Share Increase, the "Corporate Actions") of the issued and outstanding shares of Common Stock of the Company; and (d) a new trading symbol of LOVV.

 

On February 5, 2016, the Corporate Actions became effective and the issued and outstanding shares of common stock of the Company became 289,333,360.

 

On March 7, 2016, the trading symbol changed to LOVV and a new CUSIP number (54714U107) was assigned to the Company's common stock.

 

 
13
Table of Contents

 

Plan of Operation

 

On May 18, 2016, the Company shifted its business focus from developing and launching an online, cross-border e-commerce platform to promote and market worldwide premium specialties and other well-known branded products with highly comparable discount pricing to developing and launching an online platform to promote cheap airline tickets and hotels as well as developing and launching a DIY system for the Company's customers to put together a trip with exotic activities such as hunting, flying a plane, or even piloting a submarine.

 

The Company anticipates the prices of the airline tickets and hotel rooms promoted on its online platform will be priced competitively, if not lower, than the marketplace as the Company plans on partnering with some of the airlines and big airline ticket wholesalers. As for the DIY system, the Company anticipates gaining market share based on the originality and specialty of the travel activities to be offered on the Company's online platform through local travel companies and/or travel specialists that the Company is going to partner with.

 

In the beginning, the Company anticipates targeting potential customers in mainland China and Hong Kong as to the promotion of airline tickets and hotel rooms. The airline tickets and hotel booking selections may be limited upon the launch of the Company's online platform. The Company anticipates focusing the DIY activities upon the launch of the online platform in South East Asia, Canada, United States and Australia.

 

We do not yet have any operations and the development of our business is speculative. We will require additional financing, either through a stock offering, or standard or convertible debt. Until and unless we are able to secure adequate financing, our business development will be curtailed.

 

Results of Operation

 

The following table provides selected financial data about our company as of September 30, 2016 and December 31, 2015.

 

Balance Sheet Data

 

September 30,

2016

 

 

December 31,

2015

 

Cash

 

$-

 

 

$150

 

Deposits and prepaid expenses

 

 

12,602

 

 

 

-

 

Total Assets

 

 

12,602

 

 

 

150

 

Total Liabilities

 

 

85,635

 

 

 

29,108

 

Stockholders' Deficit

 

$(73,033)

 

$(28,958)

 

The following summary of our results of operations for the three and nine month periods ended September 30, 2016 and 2015 should be read in conjunction with our financial statements, as included in this Form 10-Q.

 

Three months ended September 30, 2016 and 2015

 

 

 

Three months ended

September 30,

 

 

 

2016

 

 

2015

 

REVENUES

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

Depreciation

 

 

-

 

 

 

125

 

General and administrative

 

 

115

 

 

 

90

 

Professional fees

 

 

5,025

 

 

 

5,450

 

Total Expenses

 

 

5,140

 

 

 

5,665

 

Loss before income taxes

 

 

(5,140)

 

 

(5,665)

Income tax

 

 

-

 

 

 

-

 

NET LOSS

 

$(5,140)

 

$(5,665)

 

 
14
Table of Contents

 

Revenue

 

For the three months ended September 30, 2016 and 2015, we had no revenue.

 

Expenses

 

The majority of our expenses were primarily professional fees related to ongoing regulatory costs. Operating expenses for the three months ended September 30, 2016 were $5,140, decreasing by $525 from $5,665 for the same period in 2015. The decrease was mainly attributed to decreased professional fees.

 

Net loss

 

Net loss for the three months ended September 30, 2016 was $5,140, decreasing by $525 from a net loss of $5,665 for the same period in 2015.

 

Nine months ended September 30, 2016 and 2015

 

 

 

Nine months ended

September 30,

 

 

 

2016

 

 

2015

 

REVENUES

 

$-

 

 

$-

 

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

Depreciation

 

 

-

 

 

 

375

 

General and administrative

 

 

697

 

 

 

435

 

Professional fees

 

 

43,378

 

 

 

26,209

 

Total Expenses

 

 

44,075

 

 

 

27,019

 

Loss before income taxes

 

 

(44,075)

 

 

(27,019)

Income tax

 

 

-

 

 

 

-

 

NET LOSS

 

$(44,075)

 

$(27,019)

 

Revenue

 

For the nine months ended September 30, 2016 and 2015, we had no revenue.

 

Expenses

 

The majority of our expenses were primarily professional fees related to ongoing regulatory costs. Operating expenses for the nine months ended September 30, 2016 were $44,075 increasing by $17,056 from $27,019 for the same period in 2015. The increase was mainly attributed to increased professional fees.

 

Net loss

 

Net loss for the nine months ended September 30, 2016 was $44,075, increasing by $17,056, from a net loss of $27,019 for the same period in 2015.

 

Liquidity and Capital Resources

 

To date we are still preparing to launch our principal plan of operations. Thus we have minimal business and our expenses have been primarily for professional fees related to past registration statements and ongoing regulatory expenses.

 

We anticipate we will need $100,000 to fund the next 12 months of our operations. Currently we do not have sufficient capital to fund our operations and business development for the next 12 months.

 

 
15
Table of Contents

 

Management intends to raise additional funds through public or private placement offerings. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to us.

 

As at September 30, 2016, our cash balance was $0 and we had current liabilities $85,635.

 

We had no material commitments for capital expenditures as of September 30, 2016.

 

We have no known demands or commitments, and we are not aware of any events or uncertainties as of September 30, 2016 that will result in or that are reasonably likely to materially increase or decrease our current liquidity.

 

Working Capital

 

 

 

As at

September 30,

2016

 

 

As at

December 31,

2015

 

Current Assets

 

$12,602

 

 

$150

 

Current Liabilities

 

$85,635

 

 

$29,108

 

Working Capital Deficiency

 

$(73,033)

 

$(28,958)

 

Cash Flows

 

 

 

For The Nine Months Ended
September 30,

 

 

 

2016

 

 

2015

 

Cash Flows used in Operating Activities

 

$(65,556)

 

$(24,829)

Cash Flows from Financing Activities

 

$65,406

 

 

$8,900

 

Net Decrease in Cash During Period

 

$(150)

 

$(15,929)

 

As of September 30, 2016 and December 31, 2015, our cash balance was $0 and $150 respectively and our total current assets were $12,602 as of September 30, 2016 compared with cash of $150 as of December 31, 2015. The increase in total assets was primarily due to an increase in prepaid expenses.

 

As of September 30, 2016, our company had total liabilities of $85,635 compared with total liabilities of $29,108 as of December 31, 2015.

 

As of September 30, 2016, our company had a working capital deficiency of $73,033 compared with $28,958 as of December 31, 2015. The increase in the working capital deficiency was primarily due to the costs associated with ongoing regulatory requirements.

 

Cash Flow from Operating Activities

 

During the nine months ended September 30, 2016 and 2015, our company used $65,556 and $24,829 in cash from operating activities, respectively. During the nine months ended September 30, 2016 our professional fees related to ongoing regulatory requirements were paid by related parties on our behalf.

 

Cash Flow from Investing Activities

 

We did not use any funds for investing activities in the nine months ended September 30, 2016 and 2015.

 

Cash Flow from Financing Activities

 

During the nine months ended September 30, 2016, the Company received $65,406 from advances from related parties compared to $8,900 from advances from related parties and cash from common shares issued during the nine months ended September 30, 2015.

 

 
16
Table of Contents

 

Going Concern

 

We had a working capital deficiency and accumulated deficit from recurring net losses as of December 31, 2015 and September 30, 2016. These factors raise substantial doubts about our ability to continue as a going concern. We plan to raise additional funds through financing, either through a stock offering, or standard or convertible debt, in the future to meet our daily cash demands if required. However, there can be no assurance that we will be successful in obtaining further financing.

 

Off-Balance Sheet Arrangements

 

We do not have any 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 is material to investors.

 

Limited Operating History; Need for Additional Capital

 

There is no historical financial information about us on which to base an evaluation of our performance. We have generated no revenues from operations since our inception. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in developing our website, and possible cost overruns due to the price and cost increases in supplies and services.

 

At present, we do not have enough cash on hand to cover operating costs for the next 12 months.

 

If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.

 

Critical Accounting Policies and Estimates

 

We prepare our financial statements in conformity with GAAP, which requires management to make certain estimates and apply judgments. We base our estimates and judgments on historical experience, current trends and other factors that management believes to be important at the time the condensed financial statements are prepared. On a regular basis, we review our accounting policies and how they are applied and disclosed in our condensed financial statements.

 

While we believe that the historical experience, current trends and other factors considered support the preparation of our financial statements in conformity with GAAP, actual results could differ from our estimates and such differences could be material.

 

Our significant accounting policies are described more fully in Note 2 to our accompanying condensed financial statements. We believe the following accounting policies are the most critical to aid you in fully understanding and evaluating this Management Discussion and Analysis.

 

Foreign Currency Transactions

 

The reporting currency of the Company is the United States dollar ("U.S. Dollars"). The financial records of the Company are maintained in U.S. Dollars, which is the functional currency.

 

Monetary assets and liabilities denominated in currencies other than U.S. Dollars are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.

 

 
17
Table of Contents

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

 

A smaller reporting company, as defined by Item 10 of Regulation S-K, is not required to provide the information required by this item.

 

Item 4. Controls and Procedures.

 

Disclosure Controls and Procedures

 

Management's Report on Disclosure Controls and Procedures

 

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our President and Chief Financial Officer, to allow for timely decisions regarding required disclosure.

 

As of the end of the quarter covered by this report, our management carried out an evaluation, under the supervision and with the participation of our President and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures. Based on the foregoing, our management concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this quarterly report. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

 

The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee, (2) lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (3) inadequate segregation of duties consistent with control objectives; (4) management dominated by two individuals without adequate compensating controls; (5) lack of appropriate policies and procedures in place to evaluate the proper accounting and disclosures of key documents and agreements; and (6) insufficient skilled accounting personnel with an appropriate level of technical accounting knowledge and experience in the application of accounting principles generally accepted in the United States commensurate with our financial reporting requirements. The aforementioned material weaknesses were identified by our President and Chief Financial Officer in connection with the review of our financial statements as of September 30, 2016.

 

In order to cure the foregoing material weakness, we have taken or are taking the following remediation measures:

 

·

We intend to establish an audit committee of the board of directors as soon as practicable. We envision that the audit committee will be primarily responsible for reviewing the services performed by our independent auditors, evaluating our accounting policies and our system of internal controls.

 

 

·

We are committed to establishing the internal audit functions but due to limited qualified personnel in the region, we were not able to hire sufficient internal audit resources by September 30, 2016.

·

We plan to provide additional training to our accounting personnel on US GAAP, SEC reporting and other regulatory requirements regarding the preparation of financial statements.

 

Despite the material weakness and deficiencies reported above, our management believes that our financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented and that 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.

 

Changes in Internal Control over Financial Reporting

 

There have been no changes in our internal controls over financial reporting that occurred during the period ended September 30, 2016, that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

 

 
18
Table of Contents

 

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 any of our directors, officers or affiliates, or any registered beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

 

Item 1A. Risk Factors

 

As a "smaller reporting company", we are not required to provide the information required by this Item.

 

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

 

We did not issue unregistered equity securities during the quarter ended September 30, 2016.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

Change in Registrant's Certifying Accountant

 

On September 26, 2016, the Company was advised that the Company's independent registered public accounting firm, Crowe Horwath (HK) CPA Limited (“CHHK”), will no longer provide audit and assurances services to public companies subject to the statutes and regulations of the United States effective as of October 1, 2016. Accordingly, the Company, with the approval of its board of directors, terminated the services of CHHK effective September 30, 2016, and retained the services of Centurion ZD CPA Limited (formerly DCAW (CPA) Limited) effective September 30, 2016 as the Company's new independent registered public accounting firm.

 

 
19
Table of Contents

 

Item 6. Exhibits.

 

3.1

Articles of Incorporation (incorporated by reference to Exhibit 3.1 to Registration Statement on Form S-1 filed by the Company with the Securities and Exchange Commission on April 28, 2014)

3.2

Certificate of Amendment (incorporated by reference to Exhibit 3.2 to Registration Statement on Form S-1 filed by the Company with the Securities and Exchange Commission on April 28, 2014)

3.3

Certificate of Amendment (incorporated by reference to Exhibit 3.3 to Form 10-Q for quarterly period ended June 30, 2016 filed by the Company with the Securities and Exchange Commission on August 15, 2016)

3.4

Bylaws (incorporated by reference to Exhibit 3.3 to Registration Statement on Form S-1 filed by the Company with the Securities and Exchange Commission on April 28, 2014)

31.1*

Rule 13a-14(a) / 15d-14(a) Certification of Chief Executive Officer.

31.2*

Rule 13a-14(a) / 15d-14(a) Certification of Chief Financial Officer.

32.1**

Section 1350 Certification of Chief Executive Officer.

32.2**

Section 1350 Certification of Chief Financial Officer.

 

101.INS*

XBRL Instance Document

101.SCH*

XBRL Taxonomy Extension Schema Document

101.CAL*

XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*

XBRL Taxonomy Extension Label Linkbase Document

101.PRE*

XBRL Taxonomy Extension Presentation Linkbase Document

______________

*

Filed herewith

**

Furnished herewith

 

 
20
Table of Contents

 

SIGNATURE

 

In accordance with the requirements of the Exchange Act, the registrant caused this report on Form 10-Q to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Love International Group, Inc.

 

Dated: November 14, 2016

By:

/s/ Yong Qiang Yang

Name:

Yong Qiang Yang

President

 

 

(principal executive officer)

 

 

 

21

 

EX-31.1 2 lovv_ex311.htm CERTIFICATION lovv_ex311.htm

EXHIBIT 31.1

 

CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Yong Qiang Yang, certify that:

 

1.I have reviewed this Quarterly Report on Form 10-Q for September 30, 2016 of Love International Group, 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 officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

 

 

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

 

 

 

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

 

 

 

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

 

 

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

 

 

5.The registrant's other certifying officers 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 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 14, 2016

/s/ Yong Qiang Yang

Yong Qiang Yang

President and Principal Executive Officer

EX-31.2 3 lovv_ex312.htm CERTIFICATION lovv_ex312.htm

EXHIBIT 31.2

 

CERTIFICATION PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Wei Min Jin, certify that:

 

1.I have reviewed this Quarterly Report on Form 10-Q for September 30, 2016 of Love International Group, 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 officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

 

 

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

 

 

 

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

 

 

 

c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

 

 

 

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

 

 

5.The registrant's other certifying officers 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 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 14, 2016

/s/ Wei Min Jin

Wei Min Jin

Chief Financial Officer and Principal Financial and Accounting Officer

 

EX-32.1 4 lovv_ex321.htm CERTIFICATION lovv_ex321.htm

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

 

I, Yong Qiang Yang, President of Love International Group, Inc. (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

 

 

(1)the Form 10-Q of the Company for the nine-month period ended September 30, 2016 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and

 

 

 

 

(2)the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: November 14, 2016

/s/ Yong Qiang Yang

Yong Qiang Yang

President

 

(Principal Executive Officer)

 

[A signed original of this written statement required by Section 906 has been provided to Love International Group, Inc. and will be retained by Love International Group, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.]


 

EX-32.2 5 lovv_ex322.htm CERTIFICATION lovv_ex322.htm

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

 

I, Wei Min Jin, Chief Financial Officer of Love International Group, Inc. (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

 

 

(1)the Form 10-Q of the Company for the nine-month period ended September 30, 2016 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and

 

 

 

 

(2)the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: November 14, 2016

/s/ Wei Min Jin

Wei Min Jin

Chief Financial Officer

(Principal Financial and Accounting Officer)

 

[A signed original of this written statement required by Section 906 has been provided to Love International Group, Inc. and will be retained by Love International Group, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.]

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("we", "us", "our" or the "Company") was incorporated on May 23, 2013 under the laws of the State of Nevada. On November 11, 2015, a change in control of the Company occurred, whereby Walter Lee, the-then sole officer and director, sold 15,000,000 of his shares of common stock, representing 51.8% of the voting power of the issued and outstanding capital stock of the Company, in a private transaction to Yong Qiang Yang (8,250,000 shares) and Wei Min Jin (6,750,000 shares), who subsequently became officers and directors of the Company. Mr. Lee sold the remainder of his shares (5,000,000 shares) to other individuals in separate transactions not involving a public sale or distribution. 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The Board of Directors appointed Yong Qiang Yang as President of the Company, and as a member of the Board of Directors, and Wei Min Jin as Chief Financial Officer and Secretary of the Company and a member of the Board of Directors, effective November 30, 2015.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">All references above to share and per share data have not been adjusted to give effect of the forward stock split (see below).</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On February 4, 2016, the Financial Industry Regulatory Authority approved: (a) changing the name of the Company to Love International Group, Inc. ("Name Change"); (b) increasing the aggregate number of authorized shares of Common Stock of the Company from one hundred and fifty million (150,000,000) shares, par value $0.001, to one billion (1,000,000,000) shares, par value $0.0001 per share ("Authorized Share Increase"); (c) a 10-for-1 forward stock split ("Forward Split"; together with the Name Change and Authorized Share Increase, the "Corporate Actions") of the issued and outstanding shares of Common Stock of the Company; and (d) a new trading symbol of LOVV.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On February 5, 2016, the Corporate Actions became effective and the issued and outstanding shares of common stock of the Company became 289,333,360.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On March 7, 2016, the trading symbol changed to LOVV and a new CUSIP number (54714U107) was assigned to the Company's common stock.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On May 18, 2016, the Company shifted its business focus from developing and launching an online, cross-border e-commerce platform to promote and market worldwide premium specialties and other well-known branded products with highly comparable discount pricing to developing and launching an online platform to promote cheap airline tickets and hotels as well as developing and launching a "Do-It-Yourself" ("DIY") system for the Company's customers to put together a trip with exotic activities such as hunting, flying a plane, or even piloting a submarine.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The Company anticipates the prices of the airline tickets and hotel rooms promoted on its online platform will be priced competitively, if not lower, than the marketplace as the Company plans on partnering with some of the airlines and big airline ticket wholesalers. As for the DIY system, the Company anticipates gaining market share based on the originality and specialty of the travel activities to be offered on the Company's online platform through local travel companies and/or travel specialists that the Company is going to partner with.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">In the beginning, the Company anticipates targeting potential customers in mainland China and Hong Kong as to the promotion of airline tickets and hotel rooms. The airline tickets and hotel booking selections may be limited upon the launch of the Company's online platform. The Company anticipates focusing the DIY activities upon the launch of the online platform in South East Asia, Canada, United States and Australia.</p> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The Company does not yet have any operations and the development of its business is speculative. The Company will require additional financing, either through a stock offering, or standard or convertible debt. Until and unless it is able to secure adequate financing, its business development will be curtailed.</div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The Company had a working capital deficiency and accumulated deficit from recurring net losses as of December 31, 2015 and September 30, 2016. These factors raise substantial doubts about the Company's ability to continue as a going concern. The Company plans to raise additional funds through financing, either through a stock offering, or standard or convertible debt, in the future to meet its daily cash demands if required. However, there can be no assurance that the Company will be successful in obtaining further financing.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The accompanying financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty related to the Company's ability to continue as a going concern.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">We have not generated any operating revenues to date.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">All common share and per share amounts disclosed herein and in the accompanying financial statements have been retroactively restated to reflect the forward stock split, except as otherwise provided herein.</div> </div> <div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b>NOTE 2. SIGNIFICANT ACCOUNTING POLICIES</b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b style="margin: 0px;"><i>Basis of Presentation</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><strong><em>&#160;</em></strong></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The interim condensed financial information as of September 30, 2016 and for the three and nine month periods ended September 30, 2016 and 2015 have been prepared without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial information should be read in conjunction with the Financial Statements and the notes thereto, included in the Company's Transition Report on Form 10-K for the eleven-month transition period ended December 31, 2015, previously filed with the SEC on March 24, 2016.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On January 20, 2016, the Company elected to change its fiscal year end from January 31 to December 31. As a result of this change, the Company's fiscal year 2015 was an 11-month transition period ending on December 31, 2015. See Note 2 to the Financial Statements included in the Company's Transition Report on Form 10-K on the eleven-month transition period ended December 31, 2015. As a result of this change, in these condensed financial statements, including the notes thereto, the Company reported its financial results for the three and nine month periods ending September 30, 2016 with corresponding results for the fiscal periods ended September 30, 2015.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">In the opinion of management, all adjustments (which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company's interim condensed financial position as of September 30, 2016, its interim condensed results of operations and comprehensive loss for the three and nine month periods ended September 30, 2016 and 2015, as applicable, and its interim condensed results of cash flows for the nine month periods ended September 30, 2016 and 2015, as applicable, have been made. The interim results of operations are not necessarily indicative of the operating results for the full fiscal year or any future periods.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Estimates and Assumptions</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i></i></b>&#160;</p> <div align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Foreign Currency Transactions</i></b></div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The reporting currency of the Company is the United States dollar ("U.S. Dollars"). The financial records of the Company are maintained in U.S. Dollars, which is the functional currency.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Monetary assets and liabilities denominated in currencies other than U.S. Dollars are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Cash and Cash Equivalents</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Cash consists of cash on hand and in banks. The Company considers all highly liquid debt instruments, with initial terms of less than three months to be cash equivalents. As of September 30, 2016, December 31, 2015 and September 30, 2015, cash and cash equivalents consisted of only cash.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Fair Value Measurements</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">ASC Topic 820,<i>&#160;Fair Value Measurement and Disclosures</i>, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. The three levels of valuation hierarchy are defined as follows:</p> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="text-align: justify; width: 100%; font: 10pt 'times new roman'; font-stretch: normal;" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="4%"></td> <td valign="top" width="4%"> <p align="justify" style="margin: 0px;"><font style="font-family: symbol;">&#183;</font></p> </td> <td valign="top" width="92%"> <p align="justify" style="margin: 0px;">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</p> </td> </tr> <tr> <td></td> <td></td> <td> <p align="justify" style="margin: 0px;"></p> </td> </tr> <tr> <td></td> <td valign="top"> <p align="justify" style="margin: 0px;"><font style="font-family: symbol;">&#183;</font></p> </td> <td valign="top"> <p align="justify" style="margin: 0px;">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 assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</p> </td> </tr> <tr> <td></td> <td></td> <td> <p align="justify" style="margin: 0px;"></p> </td> </tr> <tr> <td></td> <td valign="top"> <p align="justify" style="margin: 0px;"><font style="font-family: symbol;">&#183;</font></p> </td> <td valign="top"> <p align="justify" style="margin: 0px;">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.</p> </td> </tr> </table> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, balance with related parties and accounts payable and accrued liabilities approximate their fair values because of the short maturity of these instruments or the rate of interest of these instruments approximate the market rate of interest.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Property, Plant and Equipment</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Property, plant and equipment are stated at cost less accumulated depreciation and impairment charges. 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This guidance in ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. 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Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2034. The fiscal year 2015 remains open to examination by federal tax authorities and other tax jurisdictions.</div> </div> <div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b>NOTE 7. 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Certain information and footnote disclosures, which are normally included in financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial information should be read in conjunction with the Financial Statements and the notes thereto, included in the Company's Transition Report on Form 10-K for the eleven-month transition period ended December 31, 2015, previously filed with the SEC on March 24, 2016.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">On January 20, 2016, the Company elected to change its fiscal year end from January 31 to December 31. As a result of this change, the Company's fiscal year 2015 was an 11-month transition period ending on December 31, 2015. See Note 2 to the Financial Statements included in the Company's Transition Report on Form 10-K on the eleven-month transition period ended December 31, 2015. As a result of this change, in these condensed financial statements, including the notes thereto, the Company reported its financial results for the three and nine month periods ending September 30, 2016 with corresponding results for the fiscal periods ended September 30, 2015.</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">In the opinion of management, all adjustments (which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company's interim condensed financial position as of September 30, 2016, its interim condensed results of operations and comprehensive loss for the three and nine month periods ended September 30, 2016 and 2015, as applicable, and its interim condensed results of cash flows for the nine month periods ended September 30, 2016 and 2015, as applicable, have been made. 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Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.</div> </div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Foreign Currency Transactions</i></b></p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The reporting currency of the Company is the United States dollar ("U.S. Dollars"). 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Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.</div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Cash and Cash Equivalents</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Cash consists of cash on hand and in banks. The Company considers all highly liquid debt instruments, with initial terms of less than three months to be cash equivalents. As of September 30, 2016, December 31, 2015 and September 30, 2015, cash and cash equivalents consisted of only cash.</p> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Fair Value Measurements</i></b></p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">ASC Topic 820,<i>&#160;Fair Value Measurement and Disclosures</i>, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. 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Depreciation is computed using the diminishing balance method over the estimated useful lives of the assets as follows:&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div> <table style="font: 10pt/normal 'times new roman'; margin: auto; width: 100%; text-align: justify; font-size-adjust: none; font-stretch: normal;" border="0" cellspacing="0" cellpadding="0"> <tr> <td valign="top" width="10%"> <p style="text-indent: 0px; margin: 0px;">Equipment</p> </td> <td valign="top" width="89%"> <p style="text-indent: 0px; margin: 0px;">3 years</p> </td> </tr> </table> </div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The cost and accumulated depreciation of property, plant and equipment sold are removed from the balance sheets and resulting gains or losses are recognized in the statements of operations.</div> <div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Long-Lived Assets</i></b></p> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Long-lived assets which include property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.</div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.</div> </div> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Stock-Based Compensation</i></b></p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p align="justify" style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The Company adopted ASC 718, Compensation &#8211; Stock-Based Compensation, to account for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. We did not grant any stock options since inception on May 23, 2013 through September 30, 2016.</p> <div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Income Taxes</i></b></p> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations and comprehensive loss in the period that includes the enactment date.</div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">The impact of an uncertain income tax positions on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.</div> </div> <div> <p style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;"><b><i>Basic and Diluted Loss per Share</i></b></p> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">&#160;</div> <div style="text-align: justify; widows: 2; text-transform: none; font-style: normal; text-indent: 0px; margin: 0px; font-family: 'times new roman'; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; font-size: 13px; font-weight: normal; word-spacing: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px;">Loss per share is computed using the weighted average number of shares outstanding during the period. We have adopted ASC 260, "Earnings per Share". 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Document and Entity Information - shares
9 Months Ended
Sep. 30, 2016
Nov. 10, 2016
Document And Entity Information [Abstract]    
Entity Registrant Name LOVE INTERNATIONAL GROUP, INC.  
Entity Central Index Key 0001605780  
Trading Symbol lovv  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   289,333,360
Document Type 10-Q  
Document Period End Date Sep. 30, 2016  
Amendment Flag false  
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q3  
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Condensed Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Sep. 30, 2015
CURRENT ASSETS      
Cash and cash equivalents   $ 150 $ 294
Deposits and prepaid expenses $ 12,602    
Total current assets 12,602 150 294
PROPERTY AND EQUIPMENT      
Property and equipment, net of nil, nil and $924 accumulated depreciation, respectively 493
TOTAL ASSETS 12,602 150 787
CURRENT LIABILITIES      
Accounts payable and accrued liabilities 730 9,609 6,168
Due to related parties 84,905 19,499 5,167
Total current liabilities 85,635 29,108 11,335
STOCKHOLDERS' DEFICIT      
Common stock, $0.0001 par value, 1,000,000,000 shares authorized, 289,333,360 shares issued and outstanding [1] 28,933 28,933 28,933
Additional paid-in capital 33,383 33,383 17,867
Accumulated deficit (135,349) (91,274) (57,348)
TOTAL STOCKHOLDERS' DEFICIT (73,033) (28,958) (10,548)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 12,602 $ 150 $ 787
[1] Post a forward ten for one stock split effective on February 5, 2016.
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Condensed Balance Sheets (Parentheticals) - USD ($)
Sep. 30, 2016
Feb. 05, 2016
Feb. 04, 2016
Dec. 31, 2015
Sep. 30, 2015
Statement of Financial Position [Abstract]          
Accumulated depreciation on property and equipment (in dollars)     $ 924
Common stock, par value (in dollars per share) $ 0.0001 [1] $ 0.0001 $ 0.001 $ 0.0001 [1] $ 0.0001 [1]
Common stock, shares authorized 1,000,000,000 [1]   150,000,000 1,000,000,000 [1] 1,000,000,000 [1]
Common stock, shares issued 289,333,360 [1] 289,333,360   289,333,360 [1] 289,333,360 [1]
Common stock, shares outstanding 289,333,360 [1] 289,333,360   289,333,360 [1] 289,333,360 [1]
[1] Post a forward ten for one stock split effective on February 5, 2016.
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Condensed Statements of Operation and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
REVENUES
EXPENSES        
General and administrative 115 215 697 810
Professional fees 5,025 5,450 43,378 26,209
Total Expenses 5,140 5,665 44,075 27,019
Loss before income taxes (5,140) (5,665) (44,075) (27,019)
Income tax
NET LOSS $ (5,140) $ (5,665) $ (44,075) $ (27,019)
BASIC AND DILUTED LOSS PER SHARE (in dollars per share) $ (0.00) $ (0.00) $ (0.00) $ (0.00)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING BASIC AND DILUTED (in shares) [1] 289,333,360 289,333,360 289,333,360 289,333,360
[1] Post a forward ten for one stock split effective on February 5, 2016.
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Condensed Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)
Common stock
Additional Paid-in Capital
Accumulated Deficit
Total
Balance (Previously Reported) at Dec. 31, 2014 $ 28,933 $ 17,867 $ (35,966) $ 10,834
Balance at Dec. 31, 2014 $ 28,933 17,867 (30,329) 16,471
Balance (in shares) (Previously Reported) at Dec. 31, 2014 [1] 289,333,360      
Balance (in shares) at Dec. 31, 2014 [1] 289,333,360      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss | Adjustment     5,637 5,637
Net loss     (27,019) (27,019)
Balance at Sep. 30, 2015 $ 28,933 17,867 (57,348) $ (10,548)
Balance (in shares) at Sep. 30, 2015 [1] 289,333,360     289,333,360
Balance at Dec. 31, 2015 $ 28,933 33,383 (91,274) $ (28,958)
Balance (in shares) at Dec. 31, 2015 [1] 289,333,360     289,333,360
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net loss     (44,075) $ (44,075)
Balance at Sep. 30, 2016 $ 28,933 $ 33,383 $ (135,349) $ (73,033)
Balance (in shares) at Sep. 30, 2016 [1] 289,333,360     289,333,360
[1] Post a forward ten for one stock split effective on February 5, 2016.
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (44,075) $ (27,019)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation expense 375
Changes in operating assets and liabilities:    
Deposits and prepaid expenses (12,602) 95
Accounts payable and accrued liabilities (8,879) 1,720
CASH USED IN OPERATING ACTIVITIES (65,556) (24,829)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances from related parties 65,406 4,400
Proceeds from the sale of common stock for cash   4,500
CASH PROVIDED BY FINANCING ACTIVITIES 65,406 8,900
NET CHANGE IN CASH (150) (15,929)
CASH BEGINNING OF PERIOD 150 16,223
CASH END OF PERIOD   294
SUPPLEMENTAL CASH FLOW DISCLOSURES    
Interest paid
Income taxes paid
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
ORGANIZATION, PRINCIPAL ACTIVITIES AND BASIS OF PREPARATION
9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION, PRINCIPAL ACTIVITIES AND BASIS OF PREPARATION

NOTE 1. ORGANIZATION, PRINCIPAL ACTIVITIES AND BASIS OF PREPARATION

 

Love International Group, Inc. (formerly known as QUINTEC CORP.) ("we", "us", "our" or the "Company") was incorporated on May 23, 2013 under the laws of the State of Nevada. On November 11, 2015, a change in control of the Company occurred, whereby Walter Lee, the-then sole officer and director, sold 15,000,000 of his shares of common stock, representing 51.8% of the voting power of the issued and outstanding capital stock of the Company, in a private transaction to Yong Qiang Yang (8,250,000 shares) and Wei Min Jin (6,750,000 shares), who subsequently became officers and directors of the Company. Mr. Lee sold the remainder of his shares (5,000,000 shares) to other individuals in separate transactions not involving a public sale or distribution. After the sale of stock, Walter Lee had no further ownership of any voting securities of the Company.

 

On November 30, 2015, the Company accepted the resignation of Walter Lee from his positions as President, Chief Executive Officer, Chief Financial Officer and member of the Board of Directors. The Board of Directors appointed Yong Qiang Yang as President of the Company, and as a member of the Board of Directors, and Wei Min Jin as Chief Financial Officer and Secretary of the Company and a member of the Board of Directors, effective November 30, 2015.

 

All references above to share and per share data have not been adjusted to give effect of the forward stock split (see below).

 

On February 4, 2016, the Financial Industry Regulatory Authority approved: (a) changing the name of the Company to Love International Group, Inc. ("Name Change"); (b) increasing the aggregate number of authorized shares of Common Stock of the Company from one hundred and fifty million (150,000,000) shares, par value $0.001, to one billion (1,000,000,000) shares, par value $0.0001 per share ("Authorized Share Increase"); (c) a 10-for-1 forward stock split ("Forward Split"; together with the Name Change and Authorized Share Increase, the "Corporate Actions") of the issued and outstanding shares of Common Stock of the Company; and (d) a new trading symbol of LOVV.

 

On February 5, 2016, the Corporate Actions became effective and the issued and outstanding shares of common stock of the Company became 289,333,360.

 

On March 7, 2016, the trading symbol changed to LOVV and a new CUSIP number (54714U107) was assigned to the Company's common stock.

 

On May 18, 2016, the Company shifted its business focus from developing and launching an online, cross-border e-commerce platform to promote and market worldwide premium specialties and other well-known branded products with highly comparable discount pricing to developing and launching an online platform to promote cheap airline tickets and hotels as well as developing and launching a "Do-It-Yourself" ("DIY") system for the Company's customers to put together a trip with exotic activities such as hunting, flying a plane, or even piloting a submarine.

 

The Company anticipates the prices of the airline tickets and hotel rooms promoted on its online platform will be priced competitively, if not lower, than the marketplace as the Company plans on partnering with some of the airlines and big airline ticket wholesalers. As for the DIY system, the Company anticipates gaining market share based on the originality and specialty of the travel activities to be offered on the Company's online platform through local travel companies and/or travel specialists that the Company is going to partner with.

 

In the beginning, the Company anticipates targeting potential customers in mainland China and Hong Kong as to the promotion of airline tickets and hotel rooms. The airline tickets and hotel booking selections may be limited upon the launch of the Company's online platform. The Company anticipates focusing the DIY activities upon the launch of the online platform in South East Asia, Canada, United States and Australia.

 
The Company does not yet have any operations and the development of its business is speculative. The Company will require additional financing, either through a stock offering, or standard or convertible debt. Until and unless it is able to secure adequate financing, its business development will be curtailed.

 

The Company had a working capital deficiency and accumulated deficit from recurring net losses as of December 31, 2015 and September 30, 2016. These factors raise substantial doubts about the Company's ability to continue as a going concern. The Company plans to raise additional funds through financing, either through a stock offering, or standard or convertible debt, in the future to meet its daily cash demands if required. However, there can be no assurance that the Company will be successful in obtaining further financing.

 

The accompanying financial statements have been prepared assuming the Company will continue to operate as a going concern, which contemplates the realization of assets and the settlement of liabilities in the normal course of business. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty related to the Company's ability to continue as a going concern.

 

We have not generated any operating revenues to date.

 

All common share and per share amounts disclosed herein and in the accompanying financial statements have been retroactively restated to reflect the forward stock split, except as otherwise provided herein.
XML 19 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
SIGNIFICANT ACCOUNTING POLICIES

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

 

The interim condensed financial information as of September 30, 2016 and for the three and nine month periods ended September 30, 2016 and 2015 have been prepared without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial information should be read in conjunction with the Financial Statements and the notes thereto, included in the Company's Transition Report on Form 10-K for the eleven-month transition period ended December 31, 2015, previously filed with the SEC on March 24, 2016.

 

On January 20, 2016, the Company elected to change its fiscal year end from January 31 to December 31. As a result of this change, the Company's fiscal year 2015 was an 11-month transition period ending on December 31, 2015. See Note 2 to the Financial Statements included in the Company's Transition Report on Form 10-K on the eleven-month transition period ended December 31, 2015. As a result of this change, in these condensed financial statements, including the notes thereto, the Company reported its financial results for the three and nine month periods ending September 30, 2016 with corresponding results for the fiscal periods ended September 30, 2015.

 

In the opinion of management, all adjustments (which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company's interim condensed financial position as of September 30, 2016, its interim condensed results of operations and comprehensive loss for the three and nine month periods ended September 30, 2016 and 2015, as applicable, and its interim condensed results of cash flows for the nine month periods ended September 30, 2016 and 2015, as applicable, have been made. The interim results of operations are not necessarily indicative of the operating results for the full fiscal year or any future periods.

 

Estimates and Assumptions

 

The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.

 

Foreign Currency Transactions

 

The reporting currency of the Company is the United States dollar ("U.S. Dollars"). The financial records of the Company are maintained in U.S. Dollars, which is the functional currency.

 

Monetary assets and liabilities denominated in currencies other than U.S. Dollars are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.

 

Cash and Cash Equivalents

 

Cash consists of cash on hand and in banks. The Company considers all highly liquid debt instruments, with initial terms of less than three months to be cash equivalents. As of September 30, 2016, December 31, 2015 and September 30, 2015, cash and cash equivalents consisted of only cash.

 

Fair Value Measurements

 

ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. The three levels of valuation hierarchy are defined as follows:

 

·

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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 assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

·

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

 

The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, balance with related parties and accounts payable and accrued liabilities approximate their fair values because of the short maturity of these instruments or the rate of interest of these instruments approximate the market rate of interest.

 

Property, Plant and Equipment

 

Property, plant and equipment are stated at cost less accumulated depreciation and impairment charges. Depreciation is computed using the diminishing balance method over the estimated useful lives of the assets as follows:

 

Equipment

3 years

 

The cost and accumulated depreciation of property, plant and equipment sold are removed from the balance sheets and resulting gains or losses are recognized in the statements of operations.

 

Long-Lived Assets

 

Long-lived assets which include property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

 

Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

 

Stock-Based Compensation

 

The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. We did not grant any stock options since inception on May 23, 2013 through September 30, 2016.

 

Income Taxes

 

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations and comprehensive loss in the period that includes the enactment date.

 

The impact of an uncertain income tax positions on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

 

Basic and Diluted Loss per Share

 

Loss per share is computed using the weighted average number of shares outstanding during the period. We have adopted ASC 260, "Earnings per Share". Diluted loss per share for all the periods presented was the same as basic loss per share as there were no potential dilutive equity instruments.

 

New Accounting Pronouncements

 

In August 2014, the FASB issued ASU 2014-15, "Presentation of Financial Statements-Going concern (Subtopic 205-40) which provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. This guidance in ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect that the adoption will have a material impact on its financial statements.

 

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company's financial statements upon adoption.
XML 20 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
PROPERTY AND EQUIPMENT
9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3. PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

Equipment

 

$ -

 

 

$ -

 

 

$ 1,417

 

Accumulated depreciation

 

 

-

 

 

 

-

 

 

 

924

 

Net property and equipment

 

$ -

 

 

$ -

 

 

$ 493

 

 

During the nine-month period ended September 30, 2016 and 2015, the Company incurred depreciation expense of $0 and $375, respectively. During the three-month period ended September 30, 2016 and 2015, the Company incurred depreciation expenses of $0 and $125, respectively.
XML 21 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
DUE TO RELATED PARTIES
9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
DUE TO RELATED PARTIES

NOTE 4. DUE TO RELATED PARTIES

 

Due to related parties consisted of the following:

 

 

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

Note

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Walter Lee, the Company’s ex-president and director

 

(a)

 

 

-

 

 

 

-

 

 

 

5,167

 

Love International Holdings Limited

 

(b)

 

$ 72,390

 

 

$ 6,984

 

 

$ -

 

Love Global Online Limited

 

(b)

 

 

12,515

 

 

 

12,515

 

 

 

-

 

 

 

 

 

$ 84,905

 

 

$ 19,499

 

 

$ 5,167

 

_____________

(a)

As of September 30, 2015, the Company owed its ex-president and director $5,167 for incorporated fees he paid on its behalf.

 

 

(b)

Yong Qiang Yang and Wei Min Jin, both directors of the Company, have beneficial interests in these companies.

 

The above balances are unsecured, non-interest bearing and have no specific terms for repayment.
XML 22 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCKHOLDERS' EQUITY
9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY

NOTE 5. STOCKHOLDERS' EQUITY

 

On February 5, 2016, a 10-for-1 forward stock split became effective and the aggregate number of shares was adjusted to 1,000,000,000, par value $0.0001 per share.

 

During the three-month and nine-month periods ended September 30, 2016, the Company did not issue any common stock.

 

As at September 30, 2016 and December 31, 2015, the Company had 289,333,360 shares issued and outstanding.
XML 23 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES
9 Months Ended
Sep. 30, 2016
Income Tax Disclosure [Abstract]  
INCOME TAXES

NOTE 6. INCOME TAXES

 

The Company is subject to a statutory tax rate of 34% under United States of America tax law. No provision for income taxes in the United States or elsewhere has been made as it had no taxable income since its inception.

 

The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax loss as follows:

 

 

 

Nine months ended

September 30,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

Loss before income taxes

 

$ (44,075 )

 

$ (27,019 )

Tax benefit at statutory rates

 

 

14,986

 

 

 

9,186

 

Change in valuation allowance

 

 

(14,986 )

 

 

(9,186 )

Net provision for income taxes

 

$ -

 

 

$ -

 

 

Net deferred tax assets consist of the following components:

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

Deferred tax asset:

 

 

 

 

 

 

 

 

 

Net operating loss carry forwards

 

$ 46,020

 

 

$ 31,034

 

 

$ 19,498

 

Valuation allowance

 

 

(46,020 )

 

 

(31,034 )

 

 

(19,498 )

Net deferred tax asset

 

$ -

 

 

$ -

 

 

$ -

 

 

The Company has accumulated net operating loss carryovers of approximately $135,349 as of September 30, 2016 which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2034. The fiscal year 2015 remains open to examination by federal tax authorities and other tax jurisdictions.
XML 24 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 7. SUBSEQUENT EVENTS

 

Management has evaluated subsequent events through the date these financial statements were available to be issued. Based on our evaluation no material events have occurred that require disclosure.
XML 25 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Policies)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

 

The condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

 

The interim condensed financial information as of September 30, 2016 and for the three and nine month periods ended September 30, 2016 and 2015 have been prepared without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures, which are normally included in financial statements prepared in accordance with U.S. GAAP have not been included. The interim condensed financial information should be read in conjunction with the Financial Statements and the notes thereto, included in the Company's Transition Report on Form 10-K for the eleven-month transition period ended December 31, 2015, previously filed with the SEC on March 24, 2016.

 

On January 20, 2016, the Company elected to change its fiscal year end from January 31 to December 31. As a result of this change, the Company's fiscal year 2015 was an 11-month transition period ending on December 31, 2015. See Note 2 to the Financial Statements included in the Company's Transition Report on Form 10-K on the eleven-month transition period ended December 31, 2015. As a result of this change, in these condensed financial statements, including the notes thereto, the Company reported its financial results for the three and nine month periods ending September 30, 2016 with corresponding results for the fiscal periods ended September 30, 2015.

 

In the opinion of management, all adjustments (which include all significant normal and recurring adjustments) necessary to present a fair statement of the Company's interim condensed financial position as of September 30, 2016, its interim condensed results of operations and comprehensive loss for the three and nine month periods ended September 30, 2016 and 2015, as applicable, and its interim condensed results of cash flows for the nine month periods ended September 30, 2016 and 2015, as applicable, have been made. The interim results of operations are not necessarily indicative of the operating results for the full fiscal year or any future periods.

Estimates and Assumptions

Estimates and Assumptions

 
 
The preparation of financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and assumptions and could have a material effect on the Company's reported financial position and results of operations.
Foreign Currency Transactions

Foreign Currency Transactions

 
 
The reporting currency of the Company is the United States dollar ("U.S. Dollars"). The financial records of the Company are maintained in U.S. Dollars, which is the functional currency.

 

Monetary assets and liabilities denominated in currencies other than U.S. Dollars are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are re-measured into U.S. Dollars at historical exchange rates. Transactions in currencies other than U.S. Dollars during the period are converted into U.S. Dollars at the applicable rates of exchange prevailing at the transaction dates. Transaction gains and losses are recognized in the statements of operations.
Cash and Cash Equivalents

Cash and Cash Equivalents

 

Cash consists of cash on hand and in banks. The Company considers all highly liquid debt instruments, with initial terms of less than three months to be cash equivalents. As of September 30, 2016, December 31, 2015 and September 30, 2015, cash and cash equivalents consisted of only cash.

Fair Value Measurements

Fair Value Measurements

 
 
ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy, which requires classification based on observable and unobservable inputs when measuring fair value. Certain current assets and current liabilities are financial instruments. Management believes their carrying amounts are a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization and, if applicable, their current interest rates are equivalent to interest rates currently available. The three levels of valuation hierarchy are defined as follows:

 

·

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) 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 assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

 

 

 

·

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

 

The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, balance with related parties and accounts payable and accrued liabilities approximate their fair values because of the short maturity of these instruments or the rate of interest of these instruments approximate the market rate of interest.
Property, Plant and Equipment

Property, Plant and Equipment

 
Property, plant and equipment are stated at cost less accumulated depreciation and impairment charges. Depreciation is computed using the diminishing balance method over the estimated useful lives of the assets as follows: 
 

Equipment

3 years

 

The cost and accumulated depreciation of property, plant and equipment sold are removed from the balance sheets and resulting gains or losses are recognized in the statements of operations.
Long-Lived Assets

Long-Lived Assets

 

Long-lived assets which include property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

 

Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Stock-Based Compensation

Stock-Based Compensation

 

The Company adopted ASC 718, Compensation – Stock-Based Compensation, to account for its stock options and similar equity instruments issued. Accordingly, compensation costs attributable to stock options or similar equity instruments granted are measured at the fair value at the grant date, and expensed over the expected vesting period. ASC 718 requires excess tax benefits be reported as a financing cash inflow rather than as a reduction of taxes paid. We did not grant any stock options since inception on May 23, 2013 through September 30, 2016.

Income Taxes

Income Taxes

 

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates applied to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations and comprehensive loss in the period that includes the enactment date.

 

The impact of an uncertain income tax positions on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.
Basic and Diluted Loss per Share

Basic and Diluted Loss per Share

 
Loss per share is computed using the weighted average number of shares outstanding during the period. We have adopted ASC 260, "Earnings per Share". Diluted loss per share for all the periods presented was the same as basic loss per share as there were no potential dilutive equity instruments.
New Accounting Pronouncements

New Accounting Pronouncements

 

In August 2014, the FASB issued ASU 2014-15, "Presentation of Financial Statements-Going concern (Subtopic 205-40) which provides guidance to an organization's management, with principles and definitions that are intended to reduce diversity in the timing and content of disclosures that are commonly provided by organizations today in the financial statement footnotes. This guidance in ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early application is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect that the adoption will have a material impact on its financial statements.

 

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company's financial statements upon adoption.
XML 26 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2016
Accounting Policies [Abstract]  
Schedule of estimated useful lives of assets

Equipment

3 years

XML 27 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
PROPERTY AND EQUIPMENT (Tables)
9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

Equipment

 

$ -

 

 

$ -

 

 

$ 1,417

 

Accumulated depreciation

 

 

-

 

 

 

-

 

 

 

924

 

Net property and equipment

 

$ -

 

 

$ -

 

 

$ 493

 

XML 28 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
DUE TO RELATED PARTIES (Tables)
9 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Schedule of due to related parties
 

 

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

Note

 

2016

 

 

2015

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Walter Lee, the Company’s ex-president and director

 

(a)

 

 

-

 

 

 

-

 

 

 

5,167

 

Love International Holdings Limited

 

(b)

 

$ 72,390

 

 

$ 6,984

 

 

$ -

 

Love Global Online Limited

 

(b)

 

 

12,515

 

 

 

12,515

 

 

 

-

 

 

 

 

 

$ 84,905

 

 

$ 19,499

 

 

$ 5,167

 

(a)

As of September 30, 2015, the Company owed its ex-president and director $5,167 for incorporated fees he paid on its behalf.

 

 

(b)

Yong Qiang Yang and Wei Min Jin, both directors of the Company, have beneficial interests in these companies.

XML 29 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2016
Income Tax Disclosure [Abstract]  
Schedule of federal and state income statutory tax rates to pretax income (loss) from continuing operations

 

 

Nine months ended

September 30,

 

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

Loss before income taxes

 

$ (44,075 )

 

$ (27,019 )

Tax benefit at statutory rates

 

 

14,986

 

 

 

9,186

 

Change in valuation allowance

 

 

(14,986 )

 

 

(9,186 )

Net provision for income taxes

 

$ -

 

 

$ -

 

Schedule of net deferred tax assets

 

 

September 30,

 

 

December 31,

 

 

September 30,

 

 

 

2016

 

 

2015

 

 

2015

 

Deferred tax asset:

 

 

 

 

 

 

 

 

 

Net operating loss carry forwards

 

$ 46,020

 

 

$ 31,034

 

 

$ 19,498

 

Valuation allowance

 

 

(46,020 )

 

 

(31,034 )

 

 

(19,498 )

Net deferred tax asset

 

$ -

 

 

$ -

 

 

$ -

 

XML 30 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
ORGANIZATION, PRINCIPAL ACTIVITIES AND BASIS OF PREPARATION (Detail Textuals)
Feb. 05, 2016
$ / shares
shares
Feb. 04, 2016
$ / shares
shares
Nov. 11, 2015
shares
Sep. 30, 2016
$ / shares
shares
[1]
Dec. 31, 2015
$ / shares
shares
[1]
Sep. 30, 2015
$ / shares
shares
[1]
Organization, Principal Activities And Basis Of Preparation [Line Items]            
Common stock, shares authorized   150,000,000   1,000,000,000 1,000,000,000 1,000,000,000
Common stock, par value | $ / shares $ 0.0001 $ 0.001   $ 0.0001 $ 0.0001 $ 0.0001
Forward stock split 10 10        
Common stock, shares issued 289,333,360     289,333,360 289,333,360 289,333,360
Common stock, shares outstanding 289,333,360     289,333,360 289,333,360 289,333,360
Walter Lee            
Organization, Principal Activities And Basis Of Preparation [Line Items]            
Number of common stock sold in private transaction     15,000,000      
Common stock voting rights percentage     51.8%      
Walter Lee | Yong Qiang Yang            
Organization, Principal Activities And Basis Of Preparation [Line Items]            
Number of common stock sold in private transaction     8,250,000      
Walter Lee | Wei Min Jin            
Organization, Principal Activities And Basis Of Preparation [Line Items]            
Number of common stock sold in private transaction     6,750,000      
Walter Lee | Other individuals            
Organization, Principal Activities And Basis Of Preparation [Line Items]            
Number of common stock sold in private transaction     5,000,000      
[1] Post a forward ten for one stock split effective on February 5, 2016.
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
SIGNIFICANT ACCOUNTING POLICIES (Details)
9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Line Items]  
Depreciation method used Diminishing balance method
Equipment  
Property, Plant and Equipment [Line Items]  
Estimated useful lives of assets 3 years
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
PROPERTY AND EQUIPMENT (Details) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Sep. 30, 2015
Property, Plant and Equipment [Abstract]      
Equipment $ 1,417
Accumulated depreciation 924
Net property and equipment $ 493
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
PROPERTY AND EQUIPMENT (Detail Textuals) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Property, Plant and Equipment [Abstract]        
Depreciation expense $ 0 $ 125 $ 375
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
DUE TO RELATED PARTIES (Details) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Sep. 30, 2015
Related Party Transactions [Abstract]      
Walter Lee, the Company's ex-president and director [1] $ 5,167
Love International Holdings Limited [2] 72,390 6,984
Love Global Online Limited [2] 12,515 12,515
Due to related party,Total $ 84,905 $ 19,499 $ 5,167
[1] As of September 30, 2015, the Company owed its ex-president and director $5,167 for incorporated fees he paid on its behalf.
[2] Yong Qiang Yang and Wei Min Jin, both directors of the Company, have beneficial interests in these companies.
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
DUE TO RELATED PARTIES (Parentheticals) (Details)
Sep. 30, 2015
USD ($)
Related Party Transactions [Abstract]  
Due to ex-president and director $ 5,167
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCKHOLDERS' EQUITY (Detail Textuals)
Feb. 05, 2016
$ / shares
shares
Feb. 04, 2016
$ / shares
Sep. 30, 2016
$ / shares
shares
[1]
Dec. 31, 2015
$ / shares
shares
[1]
Sep. 30, 2015
$ / shares
shares
[1]
Stockholders' Equity Note [Abstract]          
Common stock, par value (in dollars per share) | $ / shares $ 0.0001 $ 0.001 $ 0.0001 $ 0.0001 $ 0.0001
Forward stock split 10 10      
Shares after stock split adjustment 1,000,000,000        
Common stock, shares issued 289,333,360   289,333,360 289,333,360 289,333,360
Common stock, shares outstanding 289,333,360   289,333,360 289,333,360 289,333,360
[1] Post a forward ten for one stock split effective on February 5, 2016.
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Tax Disclosure [Abstract]        
Loss before income taxes $ (5,140) $ (5,665) $ (44,075) $ (27,019)
Tax benefit at statutory rates     14,986 9,186
Change in valuation allowance     (14,986) (9,186)
Net provision for income taxes
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES (Details 1) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Sep. 30, 2015
Deferred tax asset:      
Net operating loss carry forwards $ 46,020 $ 31,034 $ 19,498
Valuation allowance (46,020) (31,034) (19,498)
Net deferred tax asset
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES (Detail Textuals)
9 Months Ended
Sep. 30, 2016
USD ($)
Income Tax Disclosure [Abstract]  
Statutory tax rate 34.00%
Accumulated net operating loss carryovers $ 135,349
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