10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________

FORM 10-Q/A

_______________

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

For the quarterly period ended June 30, 2012

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

 For the transition period from ______to______.

CHINA GRAND RESORTS, INC.

 (Exact name of registrant as specified in Charter)

NEVADA	0-27246	62-1407521
(State or other jurisdiction of incorporation or organization)	(Commission File No.)	(IRS Employee Identification No.)

RM 905, Reignwood Center

No.8 Yong’an Dongli Jianguomen Outer Street,

Chaoyang District Beijing, 100022,

People’s Republic of China

 (Address of Principal Executive Offices)

 _______________

 (86-10) 8528 8755

 (Issuer Telephone number)

_______________

 (Former Name or Former Address if Changed Since Last Report)

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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§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 filer.  See definition of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Exchange Act (Check one):

Large Accelerated Filer   .               Accelerated Filer            .

Non-Accelerated Filer    .               Smaller Reporting Company  X  .

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

State the number of shares outstanding of each of the issuer’s classes of common equity, as of August 20, 2012: 3,272,311 shares of common stock 

 Explanatory Note

The sole purpose of this Amendment No. 1 to the Quarterly Report on Form 10-Q (the "Form 10-Q") of China Grand Resorts, Inc. for the quarterly period ended June 30, 2012, filed with the Securities and Exchange Commission on August 20, 2012, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.  Exhibit 101 to the Form 10-Q provides the financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q.  This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

2

PART II - OTHER INFORMATION

Item 6. Exhibits.

31.1*	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101**	XBRL (eXtensible Business Reporting Language)

*Filed with original Form 10-Q on August 20, 2012

**XBRL information is furnished and not filed for purposes of Sections 11 and 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and is not subject to liability under those sections, is not part of any registration statement or prospectus to which it relates and is not incorporated or deemed to be incorporated by reference into any registration statement, prospectus or other document.

3

SIGNATURES

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

	China Grand Resorts, Inc.
Date: September 6, 2012	By:	/s/Menghua Liu
		Menghua Liu Chief Executive Officer and Acting Chief Financial Officer

4

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Non Monetary Transaction Subscriptions (Details)	Aug. 01, 2009
Non Monetary Transaction Subscriptions
Area of Commercial incomes rights of 17 story apartment buildings	10,000
Considerations by means of issuance of common stocks	2,774,392

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Capital Stock Warrants Options (Details) (USD $)	Jun. 30, 2012	Jun. 28, 2009	Jul. 04, 2008	Jul. 22, 2007
Capital Stock Warrants Options
Common Stock warrants issued to Investors	0	0	50,000	60,000
Common Stock warrants issued relating to acquisition agreement	0	7,782	0	0
Common Stock Warrants Exercise Price	$ 0	$ 3	$ 20	$ 33
Common Stock Warrants Outstanding	7,782	0	0	0

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Basis Of Presentation Going Concern And Management Plan (Details) (USD $)	Jun. 30, 2012
Basis Of Presentation Going Concern And Management Plan
Accumulated Deficits	$ 11,104,180
Working Capital Deficit	$ 1,009,824

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Loss Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Loss Per Share
Nets loss	$ (56,496)	$ (56,335)	$ (190,666)	$ (180,547)
Weighted average number of common shares outstandings basic and diluted	3,272,311	3,272,311	3,272,311	3,272,311
Loss per shares basic and diluted	$ (0.02)	$ (0.02)	$ (0.06)	$ (0.05)

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OTHER PAYABLES

9 Months Ended

Jun. 30, 2012

OTHER PAYABLES

OTHER PAYABLES

(4)           OTHER PAYABLES

Other payables consist of the following:                                              

	As of
	June 30, 2012		September 30, 2011
	(Unaudited)		(Audited)
	$	15,383	$	33,162
Other payables

         Other payables mainly include audit fees and other office expense payables.

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Other Payables (Details) (USD $)	Jun. 30, 2012	Sep. 30, 2011
Others Payables
Others Payable	$ 15,383	$ 33,162

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Property And Equipment Net Depreciation And Amortization (Details) (USD $)	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Property And Equipment Net Depreciation And Amortization
Depreciation and amortization expense	$ 2,262	$ 2,191

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Related Party Transactions Loan From Related Parties (Details) (USD $)	Jun. 30, 2012	Sep. 30, 2011
Related Party Transactions Loan From Related Parties
Redrock Capital Venture Limited (a)	$ 100,281	$ 100,280
Beijing Hua Hui Hengye Investment Limited (b)	925,265	703,464
Total Loan From Related Parties	$ 1,025,546	$ 803,744

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Related Party Transactions Interest (Details) (USD $)	3 Months Ended
	Jun. 30, 2012
Related Party Transactions Interest
Interests Accrued	$ 11,025

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PROPERTY AND EQUIPMENT NET

9 Months Ended

Jun. 30, 2012

PROPERTY AND EQUIPMENT NET

PROPERTY AND EQUIPMENT NET

(3)        PROPERTY AND EQUIPMENT, NET

The following is a summary of property and equipment, at cost, less accumulated depreciation:

	As of
	June 30, 2012		September 30, 2011
		(Unaudited)		(Audited)
Computer software	$	1,693	$	1,685
Office equipment		21,382		21,280
Leasehold improvement		20,127		20,032
		43,202		42,997
Less: accumulated depreciation and amortization		(25,141)		(18,283)
Property and equipment, net	$	18,061	$	24,714

Depreciation and amortization expenses for the three months ended June 30, 2012 and 2011 were $2,262 and $2,191 respectively.

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Capital Stock Common Stock (Details)	Jun. 30, 2012	Nov. 16, 2009	Sep. 08, 2009
Capital Stock Common Stock
Issuance of 2774392 shares by issuing the number of shares to Wise Gold Investment acting on behelf of Hua Hui	0	0	832,318
Issuance of Shares to Blossom Grow Holdings Ltd., Escrow agents	0	0	1,942,074
Ratio of Reverse Stock Split for 1 share	0	20	0
Common stocks share issued	3,272,311	0	0
Common stocks share outstanding	3,272,311	0	0

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Non Monetary Transaction Accounting (Details) (USD $)	12 Months Ended
	Sep. 30, 2009
Non Monetary Transaction Accounting
Loss on disposal of assets	$ 1,345,688

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CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2012	Sep. 30, 2011
Current Assets
Cash and cash equivalents	$ 20,680	$ 6,367
Other receivables	10,425	9,712
Total Current Assets	31,105	16,079
Property and equipment, net	18,061	24,714
Security deposit	19,223	17,193
Total Non Current Assets	37,284	41,907
Total Assets	68,389	57,986
Current Liabilities
Other payables	15,383	33,162
Loan from related parties	1,025,546	803,744
Total Current Liabilities	1,040,929	836,906
Total Liabilities	1,040,929	836,906
Commitment and Contingencies
Stockholders Deficiency
Common stock, $0.001 par value, authorized 1,750,000,000 shares, 3,272,311 shares issued and outstanding as of June 30, 2012 and September 30, 2011	3,272	3,272
Additional paid-in capital	10,099,040	10,099,040
Accumulated deficit	(11,104,180)	(10,913,514)
Accumulated other comprehensive loss	29,328	32,282
Total Stockholders Deficiency	(972,540)	(778,920)
Total Liabilities and Stockholders Deficiency	$ 68,389	$ 57,986

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DESCRIPTION OF BUSINESS AND ORGANIZATION

9 Months Ended

Jun. 30, 2012

DESCRIPTION OF BUSINESS AND ORGANIZATION

DESCRIPTION OF BUSINESS AND ORGANIZATION

(1)           DESCRIPTION OF BUSINESS AND ORGANIZATION

The accompanying unaudited consolidated financial statements of China Grand Resorts, Inc. (“CGND”) and its wholly owned subsidiaries including Sun New Media Transaction Service Ltd. (“SNMTS”), China Focus Channel Development Co., Ltd (“CFCD”) and Key Prosper Holdings Limited (“KPH”), defined herein below, collectively referred to as the “Company” or “we" have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with US GAAP have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim consolidated financial statements includes normal recurring adjustments and reflects all adjustments that, in the opinion of management, are necessary for a fair presentation of such consolidated financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim consolidated financial statements be read in conjunction with the Company's most recent audited consolidated financial statements and notes included in its annual report on Form 10-K for the fiscal year ended September 30, 2011 filed on January 13, 2012. Operating results for the three months ended June 30, 2012, are not necessarily indicative of the results that may be expected for longer periods or the entire year.

On November 16, 2009, the Company effected a 20 for 1 reverse split of our issued and outstanding common stock. The par value and our total number of authorized shares were unaffected by the reverse stock split. All shares and per share amounts in these consolidated financial statements and note thereto have been retrospectively adjusted to all periods presented to give effect to the reverse stock split.

(a)             Organization

The Company was incorporated in the State of Nevada on September 21, 1989 under the name Fulton Ventures, Inc. On September 19, 2002, we changed our name to Asia Premium Television Group, Inc., and on November 16, 2009, we changed our name to China Grand Resorts, Inc. to more accurately reflect our business focus.

On March 30, 2009, we completed an acquisition pursuant to an Acquisition Agreement (the “Acquisition Agreement”) with the shareholders of GlobStream Technology Inc. (“GlobStream”) to acquire 100% of GlobStream, a Cayman Islands corporation for $156,000. GlobStream was founded by Dr. Wenjun Luo, one of our previous directors. In May 2009, we terminated the operations related to GlobStream because the mobile phone multi-media and advertising businesses of GlobStream were not performing well. Effective on August 1, 2009, the Company used the ownership in GlobStream to acquire from Beijing Hua Hui Hengye Investment Limited, the commercial income rights as detailed below – acquisition of commercial income rights.

On July 1, 2007, the Company acquired 100% interest of Sun New Media Transactional Services Limited (“SNMTS”), a company incorporated in Hong Kong, and its wholly owned subsidiary China Focus Channel Development Co., Ltd (“CFCD”), a company incorporated in the People’s Republic of China, from a third party for limited consideration.  In December 2009, the Company incorporated Key Prosper Holdings Limited (“KPH”), a company incorporated in the British Virgin Islands.

Below is the organizational chart of the Company of June 30, 2012:

China Grand Resorts, Inc.,

                                                                                                                               100%                                           100%

SunNew Media Transaction Services Limited Key Prosper Holdings Limited

                                                                                                                    100%

China Focus Channel Development Co., Ltd.

Acquisition of commercial income rights

On August 1, 2009, the Company entered into a subscription and asset sale agreement (the “Agreement”) with Beijing Hua Hui Hengye Investment Holding Ltd. (“Hua Hui”), an unaffiliated PRC company. Hua Hui is an affiliate of The Beijing Hua Hui Corporation, a PRC real estate construction and development conglomerate that specializes in constructing and developing travel, resorts, hotels, and apartment properties in popular tourist and other destinations within the PRC. Under the Agreement, we received from Hua Hui the commercial income rights to 10,000 square meters of a 17 story apartment building in the Huadun Changde International Hotel’s Apartment Complex located in the city of Changde, Hunan Province (“Project”).  The Project is currently under development by Hua Hui and is expected to be completed on or near August 31, 2012.

The Apartment Complex consists of a total of 215,000 square meters located on an approximately 3.6 acre piece of land. The Project when completed, which is expected to occur in August 2012, will be comprised of a total 128 apartments, of which we will have the commercial rights to approximately 64 apartments. The commercial income rights means the exclusive right to own and/or receive any and all income and proceeds derived from these apartments pursuant to this Project in any capacity which were valued at approximately $8,777,000 by an independent valuation firm and we agreed to pay a total of $7,317,000 as consideration. In exchange, we agreed to issue to Hua Hui, 2,774,392 shares of our common stock valued at $2.4 per share (the closing price of the Company’s common stock on the transaction date, August 1, 2009 after giving effect of 20 for 1 reverse split) for a total stock value of $6,658,536 and transferred to Hua Hui certain other Company assets valued at $658,241. These assets consisted of all of our shares of the GlobStream, certain assets of both SNMTS and CFCD, and other miscellaneous assets.

On September 8, 2009, we satisfied the issuance of the 2,774,392 shares by issuing 832,318 shares to Wise Gold Investment Ltd., a British Virgin Island company acting on behalf of Hua Hui. On that same date, we also issued 1,942,074 shares of common stock to Blossom Grow Holdings Limited, a British Virgin Island company, as escrow agent under an escrow agreement by and among us the escrow agent, and Hua Hui. The escrow agent will hold the escrow shares pending completion of the Project which is expected to occur at or near the end of calendar 2010. If the escrow agent receives written instructions from the Company that the Project is completed in accordance with the terms of the Agreement, the escrow agent will release the escrow shares to Hua Hui. However, if after the projected completion date, the Project has not been completed, the escrow shares will continue to be held at escrow for one year. If after one year, the project still has not been completed, then the Company and Hua Hui will negotiate an agreement to deal with the escrow shares. On December 5, 2011, the Company entered into a Supplemental Agreement with Hua Hui and Blossom Grow Holdings Limited. The escrow agent will hold the escrow shares depending completion of the Project which is expected to occur on or near August 31, 2012. If after August 31, 2012, the Project still has not been completed, then the Company and Hua Hui will negotiate an agreement and reach to deal with the escrow shares. Due to certain architectural change implemented by Hua Hui to improve quality, style and appearance of the Project, Hua Hui has informed us that the Project is expected to be completed on or near August 31, 2012. All permits concerning the Project have been acquired from governmental authorities, and the construction of the Project is approximately 90% completed as of June 30, 2012. During the escrow period, Hua Hui will be able to vote such shares provided it has reached an agreement with us on such matter(s), otherwise, the escrow agent will not vote on such matter(s). As a result, Hua Hui and Mr. Menghua Liu, Hua Hui’s Chairman and sole shareholder and the Company’s Chairman and Chief Executive Office, are deemed the beneficial owner of such shares. After giving effect to the transaction, Hua Hui became the Company’s majority shareholder and beneficially owns approximately 84.8% Company’s outstanding shares.

With respect to the Project, we will not be responsible for Project marketing and Hua Hui will perform the actual unit sales. We expect to pay Hua Hui a sales commission of not less than 0.5% and not more than 8% of the unit sales price and we will receive the remainder of the unit sales price.  As of the date of this report, we do not have any formal agreements or arrangements with any developer or Hua Hui for fees that we will earn, or fees that we will pay Hua Hui.

(b)Nature of prior businesses

During most of calendar 2008, our business focus was based on the interest acquisition in Jiangxi Hongcheng Tengyi Telecommunication Company, Ltd (“JXHC”) and the Provincial Class One Full Service Operator license for the Jiangxi Province from Union Max Enterprises Ltd. We attempted to provide ancillary services for cell-phone customers in Jiangxi Province whereby customers could buy minutes on the fly using their debit card or bank account. However, in December 2008, due to third party issues which negatively affected our ability to launch that business, we determined to terminate that business which resulted in a sale of our interests to an unaffiliated third party effective in March 2009 for $100.

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Commitments And Contingencies Lease Payments (Details) (USD $)	Jun. 30, 2012
Commitments And Contingencies Lease Payments
Future minimum lease payments within one year	$ 32,984

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Description Of Business And Organization Acquisition Of Commercial Income Rights (Details) (USD $)	Aug. 01, 2009
Description Of Business And Organization Acquisition Of Commercial Income Rights
Area of Commercial income rights of 17 story apartment building	10,000
Total Area of the Apartment Complex	215,000
Apartment located land in acres (approx)	3.6
As per the Project, number of apartments comprised of	128
Number of apartments for commerical rights	64
Income and proceeds from the apartments valued by valuation firm	$ 8,777,000
Total consideration agreed to pay	7,317,000
Consideration by means of issuance of common stock	2,774,392
Common stock par value	$ 2.4
Value of common stock issued	6,658,536
Assets transferred Value	$ 658,241

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Commitments And Contingencies Rent (Details) (USD $)	9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Commitments And Contingencies Rent
Rental expenses	$ 48,980	$ 46,609

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Description Of Business And Organization Nature Of Prior Business (Details) (USD $)	1 Months Ended
	Mar. 31, 2009
Description Of Business And Organization Nature Of Prior Business
Sale of interests to an unaffiliated third party	$ 100

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BASIS OF PRESENTATION

9 Months Ended

Jun. 30, 2012

BASIS OF PRESENTATION

BASIS OF PRESENTATION

(2)           BASIS OF PRESENTATION

The Company’s unaudited consolidated financial statements are prepared in accordance with US GAAP and applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.

(a)Consolidation

The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries, SNMTS, CFCD and KPH. All inter-company balances and transactions between the entities have been eliminated in consolidation.

(b)Going concern and management plan

As of June 30, 2012, the Company had an accumulated deficit totaling $11,104,180 and negative working capital $1,009,824. The Company suffered a loss of $56,496 for the three months ended June 30, 2012 and $56,335 for the three months ended June 30, 2011. In view of the matters described above, the appropriateness of the going concern basis is dependent upon continuing operations of the Company, which in turn is dependent upon the Company's ability to raise additional capital, obtain financing and succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

As a result of the transaction with Hua Hui as discussed in Note 1(a), we received the commercial income rights of the Project.

The Company is actively pursuing additional capital in an effort to fund its ongoing capital requirements, as well as seeking agreements with potential strategic partners to develop a new business strategy, other than its ownership of the commercial income rights to the Project.

(c)Use of estimates

The preparation of the financial statements in conformity with US GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the years presented. Actual results could differ from those estimates. The Company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Company's consolidated financial statements include allowance for doubtful accounts, estimated useful lives and contingent liabilities.

(d)Recently issued accounting standards

In April, 2011, the FASB issued ASU No. 2011-02 “Receivables (Topic 310)”. The purpose of this Update is to help creditors in determining whether a creditor has granted a concession and whether a debtor is experiencing financial difficulties for purposes of determining whether are structuring constitutes a troubled debt restructuring. Diversity in practice could adversely affect the comparability of information for users about restructurings of receivables. None of the new pronouncements has current application to the Company.

In September, 2011, the FASB issued ASU No. 2011-09 “Compensation—Retirement Benefits— Multiemployer Plans (Subtopic 715-80))”. The purpose of this Update is to address concerns from various users of financial statements on the lack of transparency about an employer’s participation in a multiemployer pension plan. A unique characteristic of a multiemployer plan is that assets contributed by one employer may be used to provide benefits to employees of other participating employers. This is because the assets contributed by an employer are not specifically earmarked only for its employees. If a participating employer fails to make its required contributions, the unfunded obligations of the plan may be borne by the remaining participating employers. Similarly, in some cases, if an employer chooses to stop participating in a Multiemployer plan, the withdrawing company may be required to pay to the plan a final payment (the withdrawal liability). Users of financial statements have requested additional disclosure to increase awareness of the commitments and risks involved with participating in multiemployer pension plans. The amendments in this Update will require additional disclosures about an employer’s participation in a multiemployer pension plan. Previously, disclosures were limited primarily to the historical contributions made to the plans. In developing the new guidance, the FASB’s goal was to help users of financial statements assess the potential future cash flow implications relating to an employer’s participation in multiemployer pension plans. The disclosures also will indicate the financial health of all of the significant plans in which the employer participates and assist a financial statement user to access additional information that is available outside the financial statements. None of the new pronouncements has current application to the Company.

In December, 2011, the FASB issued ASU No. 2011-10 “Property, Plant, and Equipment (Topic 360)”, the purpose of this Update is to resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to a parent that ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate as a result of default on the subsidiary’s nonrecourse debt. This Update does not address whether the guidance in Subtopic 360-20 would apply to other circumstances when a parent ceases to have a controlling financial interest in a subsidiary that is in substance real estate. None of the new pronouncements has current application to the Company.

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-12, “Comprehensive Income”. This ASU effectively defers the changes in ASU No. 2011-05, “Presentation of Comprehensive Income” that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. ASU No. 2011-12 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company adopted this policy effective January 1, 2012. None of the new pronouncements has current application to the Company.

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 consolidated financial statements upon adoption.

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CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)	Jun. 30, 2012	Sep. 30, 2011
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	1,750,000,000	1,750,000,000
Common Stock, shares issued	3,272,311	3,272,311
Common Stock, shares outstanding	3,272,311	3,272,311

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PROPERTY AND EQUIPMENT NET (Tables)

9 Months Ended

Jun. 30, 2012

PROPERTY AND EQUIPMENT NET (Tables)

Property, Plant and Equipment [Table Text Block]

The following is a summary of property and equipment, at cost, less accumulated depreciation:

	As of
	June 30, 2012		September 30, 2011
		(Unaudited)		(Audited)
Computer software	$	1,693	$	1,685
Office equipment		21,382		21,280
Leasehold improvement		20,127		20,032
		43,202		42,997
Less: accumulated depreciation and amortization		(25,141)		(18,283)
Property and equipment, net	$	18,061	$	24,714

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Document and Entity Information	9 Months Ended
	Jun. 30, 2012	Aug. 20, 2012
Document and Entity Information
Entity Registrant Name	China Grand Resorts, Inc.
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Entity Central Index Key	0000860543
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding		3,272,311
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3

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OTHER PAYABLES (Tables)

9 Months Ended

Jun. 30, 2012

OTHER PAYABLES (Tables)

Other Payables

Other payables consist of the following:                                          

	As of
	June 30, 2012		September 30, 2011
	(Unaudited)		(Audited)
	$	15,383	$	33,162
Other payables

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
OPERATING EXPENSES
General and administrative expenses	$ 43,153	$ 46,789	$ 153,220	$ 154,104
Depreciation and amortization	2,262	2,191	6,784	6,487
OPERATING LOSS	(45,415)	(48,980)	(160,004)	(160,591)
OTHER EXPENSE
Interest income	29	21	49	97
Interest expenses	(11,097)	(7,349)	(30,535)	(19,780)
Other expenses	(13)	(27)	(176)	(273)
TOTAL OTHER EXPENSES, NET	(11,081)	(7,355)	(30,662)	(19,956)
LOSS BEFORE INCOME TAX	(56,496)	(56,335)	(190,666)	(180,547)
Income tax expenses	0	0	0	0
NET LOSS	(56,496)	(56,335)	(190,666)	(180,547)
OTHER COMPREHENSIVE LOSS
Effects of foreign currency conversion	4,029	(7,359)	(2,954)	13,573
COMPREHENSIVE LOSS	$ (52,467)	$ (63,694)	$ (193,620)	$ (166,974)
Weighted average number of common stock outstanding - basic and diluted	3,272,311	3,272,311	3,272,311	3,272,311
Loss per share basic and diluted	$ (0.02)	$ (0.02)	$ (0.06)	$ (0.05)

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COMMITMENTS AND CONTINGENCIES

9 Months Ended

Jun. 30, 2012

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

(7)        COMMITMENTS AND CONTINGENCIES

Operating lease obligations

In December 2009, we relocated our office to a new space in Beijing consisting of 192.7 square feet. The term of the old lease was from September 1, 2009 to July 31, 2011; however, we terminated the old lease on December 11, 2009 as mutually agreed with the landlord and with no penalty to us. The new office lease is from December 11, 2009 to December 10, 2011 and provides for monthly lease payment of $5,333 with two months of free rent. In August 2011, we renewed this lease agreement from December 11, 2011 to December 12, 2012. Our new monthly lease payment is $6,253. As of June 30, 2012, our total future commitments for minimum lease payments are as follows:

Within one year $ 32,984

Rental expenses for the nine months ended June 30, 2012 and 2011 was $48,980 and $46,609 respectively.

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CAPITAL STOCK

9 Months Ended

Jun. 30, 2012

CAPITAL STOCK

CAPITAL STOCK

(6)    CAPITAL STOCK

(a)   Common stock

On September 8, 2009, pursuant to the transaction with Hua Hui on August 1, 2009, the Company issued 832,318 shares of its common stock to Wise Gold Investment Ltd., a British Virgin Island company, acting on behalf of Hua Hui. In addition, on that same date, it issued 1,942,074 shares of common stock to Blossom Grow Holdings Limited, a British Virgin Island company, as escrow agent under an escrow agreement by and among the Company, the escrow agent, and Hua Hui.

Effective on November 16, 2009, we effected a 20 for 1 reverse split of our issued and outstanding common stock. This reverse stock split already gave retroactive effect in the computation of basis and diluted EPS for all period presented accordingly.

As of June 30, 2012, the Company had 3,272,311 shares issued and outstanding.

(b)   Warrants/options

On July 22, 2007, 60,000 common stock warrants were issued to Investors. Under the Warrant, the investors have the right, for a period of three years from the date of such warrant, to purchase a total of 60,000 shares of the Company’s common stock. The per share exercise price of the Warrant is $33. The warrants expired on July 21, 2010.

On July 4, 2008, pursuant to the Stock Purchase Agreement made and entered into by the Company and Her Village Limited, we issued warrants to the investor for the option to purchase 50,000 shares of Common Stock with an exercise price of $20 per share and an expiration date of 18 months from the date of issuance. The warrants expired on January 3, 2010.

On June 28, 2009, pursuant to the Acquisition Agreement made and entered into by the Company and GlobStream, the Company issued warrants to Mr. Luo Wenjun for the option to purchase 7,782 shares of common stock with an exercise price of $3 per share and an expiration after March 23, 2019.

These Warrants may be exercised, in whole or in part, by the Holder during the Exercise Period by (i) the presentation and surrender of this Warrant to the Company along with a duly executed Notice of Exercise specifying the number of Warrant Shares to be purchased, and (ii) delivery of payment to the Company of the Exercise Price for the number of Warrant Shares specified in the Notice of Exercise.

As of June 30, 2012, the Company had 7,782 common stock warrants outstanding.

(c)    2001 stock plan

In 2001, the Board of Director adopted a Stock Plan (“Plan”). Under the terms and conditions of the Plan, the Board of Directors is empowered to grant stock options to employees, consultants, officers and directors of the Company. Additionally, the Board will determine at the time of granting the vesting provision and whether the options will be qualified as Incentive Stock Options under Section 422 of the Internal Revenue Code (Section 422 provides certain tax advantages to the employee recipients). The Plan was approved by the shareholders of the Company on September 15, 2001. The total number of shares of common stock available under the Plan may not exceed 100. As of June 30, 2012, no options were granted under the Plan.

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Description Of Business And Organization Issuance Of Shares (Details)	Sep. 08, 2009
Description Of Business And Organization Issuance Of Shares
Issuance of shares 2774392 shares by issuing the number of shares to Wise Gold Investment acting on behelf of Hua Hui	832,318
Issuance of Shares to blossom Grow Holdings Ltd., escrow agent	1,942,074
Percentage of completion of construction project as of June 30, 2012	90
Percentage of shares acquired by Hua Hui, a majority shareholder	84.80
Sales Commission minimum percentage	0.50
Sales Commission maximum percentage	8

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RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Jun. 30, 2012

RELATED PARTY TRANSACTIONS (Tables)

Related Party Transactions Loan

Loan from related parties

	As of
	June 30, 2012		September 30, 2011
	(Unaudited)				(Audited)
Redrock Capital Venture Limited (a)	$	100,281		$		100,280
Beijing Hua Hui Hengye Investment Limited (b)		925,265				703,464
Total	$	1,025,546		$		803,744

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NON MONETARY TRANSACTION

9 Months Ended

Jun. 30, 2012

NON MONETARY TRANSACTION

NON MONETARY TRANSACTION

(10)   NON-MONETARY TRANSACTION

On August 1, 2009, we entered into a subscription and asset sale agreement with Hua Hui. Under the terms of the Agreement, we received from Hua Hui the commercial income rights to 10,000 square meters to a 17 story apartment building in the Huadun Changde International Hotel’s Apartment Complex located in the city of Changde, Hunan Province (“Project”). The Project is currently under development by Hua Hui. In exchange, we agreed to issue to Hua Hui 2,774,392 shares of our common stock. As additional consideration, we transferred to Hua Hui all of our shares of the GlobStream Technology Inc., certain assets of both SNMTS and CFCD and certain assets of the Company.

According to ASC 845-10-S99, transfers of non-monetary assets to a company by its promoters or shareholders in exchange for stock prior to or at the time of the entity’s initial public offering normally should be recorded at the transferors' historical cost basis determined under GAAP.  In this transaction, Hua Hui became the controlling shareholder of the Company after it transferred the commercial income rights to the Company.  Therefore, the accounting principles in ASC 845-10-S99 were followed and the Company recorded the rights at its historical cost basis, which was internally developed and had zero basis.

According to ASC 845-10-30, the accounting for non-monetary transactions should be based on the fair values of the assets (or services) involved, which is the same basis as that used in monetary transactions. Thus, the cost of a non-monetary asset acquired in exchange for another non-monetary asset is the fair value of the asset surrendered to obtain it, and a gain or loss shall be recognized on the exchange. The fair value of the asset received shall be used to measure the cost if it is more clearly evident than the fair value of the asset surrendered. Similarly, a non-monetary asset received in a nonreciprocal transfer shall be recorded at the fair value of the asset received. A transfer of a non-monetary asset to a stockholder or to another entity in a nonreciprocal transfer shall be recorded at the fair value of the asset transferred and a gain or loss shall be recognized on the disposition of the asset. We recorded the disposal of the subsidiaries and assets at fair value. As the result of the transaction with Hua Hui, we experienced a loss on disposal of the above mentioned assets of $1,345,688 in fiscal year 2009.

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LOSS PER SHARE

9 Months Ended

Jun. 30, 2012

LOSS PER SHARE

LOSS PER SHARE

(8)   LOSS PER SHARE

The following data show the amounts used in computing loss per share and the weighted average number of shares for the three months ended June 30, 2012 and 2011.  As the Company has a loss, presenting diluted net loss per share is considered anti-dilutive and not included in the consolidated statement of operations.

	For the Three Months Ended				For the Nine Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Net loss	$	(56,496)	$	(56,335)	$	(190,666)	$	(180,547)
Weighted average number of common shares outstanding – basic and diluted		3,272,311		3,272,311		3,272,311		3,272,311
Loss per share - basic and diluted	$	(0.02)	$	(0.02)	$	(0.06)	$	(0.05)

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INCOME TAXES

9 Months Ended

Jun. 30, 2012

INCOME TAXES

INCOME TAXES

(9)   INCOME TAXES

The entities within the Company file separate tax returns in the respective tax jurisdictions that they operate.

British Virgin Islands

Key Prosper Holdings Limited incorporated in the British Virgin Islands as exempted company is not subject to any income tax in the British Virgin Islands.

Hong Kong

SNMTS is generally subject to Hong Kong income tax on its taxable income derived from trade or businesses carried out in Hong Kong at 16.5% for the three months ended June 30, 2012 and 2011. However, as SNMTS has not generated any revenue or income, no provision for Hong Kong income tax has been made. As SNMTS has yet commenced operations, the expenses incurred are not deductible and no loss carry forward was thus resulted.

PRC

CFCD established in the PRC was subject to the PRC Enterprise Income Tax (“EIT”) at 33% prior to January 1, 2008.

The PRC Enterprise Income Tax Law, among other things, imposes a unified income tax rate of 25% for both domestic and foreign invested enterprises registered in the PRC. The New EIT Law provides a grandfathering on tax holidays which were granted under the then effective tax laws and regulations.

The NEW EIT Law also imposes a withholding tax of 10% unless reduced by a tax treaty, for dividends distributed by a PRC-resident enterprise to its immediate holding company outside the PRC for earnings accumulated beginning on January 1, 2008 and undistributed earnings generated prior to January 1, 2008 are exempt from such withholding tax. As the PRC subsidiary is loss status, the Company has not provided for withholding taxes of its PRC subsidiary as of June 30, 2012 and 2011.

According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational or other errors made by the taxpayer or the withholding agent. The statute of limitations extends five years under special circumstances. In the case of transfer pricing issues, the statute of limitations is 10 years.

There is no state of limitations in the case of tax evasions. Accordingly, the income tax returns of China Grand Resorts, Inc. for the three months ended June 30, 2012 and 2011 are open to examination by the PRC state and local tax authorities.

As of June 30, 2012 and 2011, the Company did not have any significant temporary differences and carry forwards that may result in deferred tax. The Company has analyzed the tax positions taken or expected to be taken in its tax filing and has concluded it has no material liability related to uncertain tax positions or unrecognized tax benefits. The Company does not anticipate any significant increases or decreases to its liability for unrecognized tax benefits within the next 12 months.

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BASIS OF PRESENTATION ACCOUNTING POLICIES (Policies)

9 Months Ended

Jun. 30, 2012

BASIS OF PRESENTATION ACCOUNTING POLICIES (Policies)

Consolidation

(a)Consolidation

The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries, SNMTS, CFCD and KPH. All inter-company balances and transactions between the entities have been eliminated in consolidation.

Going Concern And Management Plan

(b)  Going concern and management plan

As of June 30, 2012, the Company had an accumulated deficit totaling $11,104,180 and negative working capital $1,009,824. The Company suffered a loss of $56,496 for the three months ended June 30, 2012 and $56,335 for the three months ended June 30, 2011. In view of the matters described above, the appropriateness of the going concern basis is dependent upon continuing operations of the Company, which in turn is dependent upon the Company's ability to raise additional capital, obtain financing and succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

As a result of the transaction with Hua Hui as discussed in Note 1(a), we received the commercial income rights of the Project.

The Company is actively pursuing additional capital in an effort to fund its ongoing capital requirements, as well as seeking agreements with potential strategic partners to develop a new business strategy, other than its ownership of the commercial income rights to the Project.

Use Of Estimates

(c )  Use of estimates

The preparation of the financial statements in conformity with US GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the years presented. Actual results could differ from those estimates. The Company bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Company's consolidated financial statements include allowance for doubtful accounts, estimated useful lives and contingent liabilities.

Recently Issued Accounting Standards

(d)  Recently issued accounting standards

In April, 2011, the FASB issued ASU No. 2011-02 “Receivables (Topic 310)”. The purpose of this Update is to help creditors in determining whether a creditor has granted a concession and whether a debtor is experiencing financial difficulties for purposes of determining whether are structuring constitutes a troubled debt restructuring. Diversity in practice could adversely affect the comparability of information for users about restructurings of receivables. None of the new pronouncements has current application to the Company.

In September, 2011, the FASB issued ASU No. 2011-09 “Compensation—Retirement Benefits— Multiemployer Plans (Subtopic 715-80))”. The purpose of this Update is to address concerns from various users of financial statements on the lack of transparency about an employer’s participation in a multiemployer pension plan. A unique characteristic of a multiemployer plan is that assets contributed by one employer may be used to provide benefits to employees of other participating employers. This is because the assets contributed by an employer are not specifically earmarked only for its employees. If a participating employer fails to make its required contributions, the unfunded obligations of the plan may be borne by the remaining participating employers. Similarly, in some cases, if an employer chooses to stop participating in a Multiemployer plan, the withdrawing company may be required to pay to the plan a final payment (the withdrawal liability). Users of financial statements have requested additional disclosure to increase awareness of the commitments and risks involved with participating in multiemployer pension plans. The amendments in this Update will require additional disclosures about an employer’s participation in a multiemployer pension plan. Previously, disclosures were limited primarily to the historical contributions made to the plans. In developing the new guidance, the FASB’s goal was to help users of financial statements assess the potential future cash flow implications relating to an employer’s participation in multiemployer pension plans. The disclosures also will indicate the financial health of all of the significant plans in which the employer participates and assist a financial statement user to access additional information that is available outside the financial statements. None of the new pronouncements has current application to the Company.

In December, 2011, the FASB issued ASU No. 2011-10 “Property, Plant, and Equipment (Topic 360)”, the purpose of this Update is to resolve the diversity in practice about whether the guidance in Subtopic 360-20 applies to a parent that ceases to have a controlling financial interest (as described in Subtopic 810-10) in a subsidiary that is in substance real estate as a result of default on the subsidiary’s nonrecourse debt. This Update does not address whether the guidance in Subtopic 360-20 would apply to other circumstances when a parent ceases to have a controlling financial interest in a subsidiary that is in substance real estate. None of the new pronouncements has current application to the Company.

In December 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2011-12, “Comprehensive Income”. This ASU effectively defers the changes in ASU No. 2011-05, “Presentation of Comprehensive Income” that relate to the presentation of reclassification adjustments out of accumulated other comprehensive income. ASU No. 2011-12 should be applied retrospectively and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The Company adopted this policy effective January 1, 2012. None of the new pronouncements has current application to the Company.

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 consolidated financial statements upon adoption.

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Commitments And Contingencies Operating Lease Obligations (Details) (USD $)	12 Months Ended	24 Months Ended
	Dec. 10, 2012	Dec. 10, 2011
Area of new space in Beijing for lease	192.7	192.7
Monthly lease payment	$ 6,253	$ 5,333

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Description Of Business And Organization Acquisition (Details) (USD $)	Mar. 30, 2009	Jul. 01, 2007
Description Of Business And Organization Acquisition
Percentage of acquisition	100	100
Acquisition cost GlobStream	$ 156,000	$ 0

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Basis Of Presentation Net Loss (Details) (USD $)	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Basis Of Presentation Net Loss
Net Losses	$ 56,496	$ 56,335

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities :
Net loss.	$ (190,666)	$ (180,547)
Adjustments to reconcile net loss to net cash used in operating activities :
Interest expenses.	30,535	0
Depreciation and amortization.	6,784	6,487
Change in operating assets and liabilities:
Other receivables.	(2,743)	(696)
Other payables.	(17,779)	(17,189)
Net cash used in operating activities	(173,869)	(191,945)
Cash flows from financing activities :
Advances from shareholders	191,267	164,581
Net cash provided by financing activities	191,267	164,581
Effect of exchange rate fluctuations on cash	(3,085)	(18,554)
Net increase (decrease) in cash and cash equivalents	14,313	(45,918)
Cash and cash equivalents at beginning of period	6,367	78,373
Cash and cash equivalents at end of period	$ 20,680	$ 32,455

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RELATED PARTY TRANSACTIONS

9 Months Ended

Jun. 30, 2012

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

(5)           RELATED PARTY TRANSACTIONS

          Loan from related parties

	As of
	June 30, 2012		September 30, 2011
	(Unaudited)				(Audited)
Redrock Capital Venture Limited (a)	$	100,281		$		100,280
Beijing Hua Hui Hengye Investment Limited (b)		925,265				703,464
Total	$	1,025,546		$		803,744

(a)Commencing in June 2009, we began receiving loans from time to time from Redrock Capital Venture Limited (“Redrock”), a minority shareholder, for working capital purposes. The amount due to Redrock is due on demand and bears no interest.

(b)             Commencing in October 2009, we began receiving loans from time to time from Hua Hui, our largest shareholder, for working capital purposes. As of June 30, 2012, the amount due to Hua Hui is $925,265, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued for the three months amounted to approximately $11,025 and the effective interest rate of the loans was 5.48%.

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Property And Equipment Net Cost Less Accumulated Depreciation (Details) (USD $)	Jun. 30, 2012	Sep. 30, 2011
Property And Equipment Net Cost Less Accumulated Depreciation
Computer softwares	$ 1,693	$ 1,685
Office equipments	21,382	21,280
Leasehold improvements	20,127	20,032
Property and equipments gross	43,202	42,997
Less: accumulated depreciation and amortization	(25,141)	(18,283)
Property and equipments, net	$ 18,061	$ 24,714

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Income Taxes Hong Kong PRC (Details)	3 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Income Taxes Hong Kong PRC
Income tax rate on its taxable income derived from trade or businesses carried out in Hong Kong	16.50%	16.50%
PRC Enterprise Income Tax ("EIT") prior to January 1, 2008.	33.00%	33.00%
Unified Income Tax Rate for both domestic and foreign invested enterprises	25.00%	25.00%
Withholding tax rate	10.00%	10.00%

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Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2012

Earnings Per Share

Loss Per Share Basic And Diluted

As the Company has a loss, presenting diluted net loss per share is considered anti-dilutive and not included in the consolidated statement of operations.

	For the Three Months Ended				For the Nine Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Net loss	$	(56,496)	$	(56,335)	$	(190,666)	$	(180,547)
Weighted average number of common shares outstanding – basic and diluted		3,272,311		3,272,311		3,272,311		3,272,311
Loss per share - basic and diluted	$	(0.02)	$	(0.02)	$	(0.06)	$	(0.05)