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Note 1 - Nature of Business
3 Months Ended
Mar. 31, 2016
Notes  
Note 1 - Nature of Business

Note 1 – Nature of Business

 

Credit One Financial, Inc. (the “Company”) was incorporated in the State of Florida on September 24, 1999. In August 2010, the Company established a wholly owned subsidiary, E&M International Limited (“E&M”), in the Cayman Islands.  On September 16, 2010, E&M changed its name to CEM International Ltd. (“CEM”).

 

The Company, through CEM, operates as an advertising agent to place and handle advertising for its clients.  On August 26, 2010, CEM entered into an exclusive agreement with Macau Lotus Satellite TV Media Limited (“Lotus TV”) to provide advertising services for a ten-year period commencing on September 1, 2010.  Because the clients of the Company have created and produced their own advertising clips and trailers, or programs, the Company currently acts only as an advertising placement agent for Lotus TV, and there is no advertising creating and planning activities involved at this time. The exclusive right agreement was amended in 2014. The Company is currently a preferred advertising agent of Lotus TV.

 

As Lotus TV’s preferred advertising agent, the Company provides advertising agency services to its clients by providing them with the advertising time slots the Company obtains from Lotus TV. Advertisers can purchase advertising time slots of Lotus TV directly from the Company. 

 

The Company generates revenues primarily from advertising sales paid by clients for the planning and placement of advertisements on Lotus TV.