10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

 (Mark One)

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

For the quarterly period ended: September 30, 2012

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

For the transition period from ____________ to _____________

Commission File No.000-52020

ASIAN TRENDS MEDIA HOLDINGS, INC.
( Exact name of small business issuer as specified in its charter)
	NEVADA	90-0201309
	(State or other jurisdiction of	(IRS Employer Identification No.)
	incorporation or organization)

203 Hankow Center, 5-15 Hankow Road,
Tsimshatsui, Kowloon, Hong Kong	n/a
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: 852-2192-4805

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 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..   Yeso   No o

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 o  No o

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 the definitions of "large accelerated filer", "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer o	Non-accelerated filer o
Accelerated filer            o (do not check if smaller reporting company)	Smaller reporting company o

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

State the number of shares outstanding of each of the issuer’s classes of common equity, as of September 30, 2012, are as follows:

Class of Securities	Shares Outstanding
Common Stock, $0.001 par value	81,912,000 shares

Transitional Small Business Disclosure Format (check one): Yes o No o

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
Item 1	Financial Statements	1
	Unaudited Condensed Consolidated Balance Sheets, September 30, 2012 and December 31, 2011	1
	Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income for the Nine months ended September 30, 2012 and 2011	2
	Unaudited Condensed Consolidated Statements of Cash Flows for the Nine months ended September 30, 2012 and 2011	3
	Notes to the Unaudited Condensed Consolidated Financial Statements	4
Item 2	Management’s Discussion and Analysis or Plan of Operation	7
Item 3	Quantitative and Qualitative Disclosures about Market Risk	8
Item 4	Controls and Procedures	8
PART II – OTHER INFORMATION
Item 1	Legal Proceedings	9
Item 2	Unregistered Sales Of Equity Securities And Use Of Proceeds	9
Item 3	Defaults Upon Senior Securities	9
Item 4	[Removed and Reserved]	9
Item 5	Other Information	9
Item 6	Exhibits	9
SIGNATURES		10

PART I – FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

ASIAN TRENDS MEDIA HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2012 (Unaudited)			December 31, 2011 (Audited)
ASSETS
CURRENT ASSETS
Accounts receivable		249			185
Total current assets		249			185
PROPERTY, PLANT & EQUIPMENT, NET		-			19,821
TOTAL ASSETS	$	249		$	20,006
LIABILITIES AND EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable		17,387			17,387
Accrued expenses and other payables		259,012			256,412
Advances from shareholders		17,654			17,654
Notes payable		129,064			127,967
Total current liabilities		423,117			419,420
TOTAL LIABILITIES	$	423,117		$	419,420
SHAREHOLDERS’ EQUITY
Common stock, Par value $0.001, 225,000,000 shares authorized; $0.01 par value; 81,912,000 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively		81,912			81,912
Additional paid in capital		634,545			634,545
Accumulated deficits		(1,139,325	)		(1,115,871	)
TOTAL SHAREHOLDERS’ EQUITY		(422,868	)		(399,414	)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	249		$	20,006

See accompanying notes to the condensed consolidated financial statements

1

ASIAN TRENDS MEDIA HOLDINGS, INC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (UNAUDITED)

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
CONTINUING OPERATIONS
REVENUES	$	13			31		$	64			185
COST OF SALES		-			-			-			-
GROSS PROFIT		13			31			64			185
EXPENSES
General and administrative (inclusive of depreciation)		1,300			21,409			3,697			42,070
Impairment of property, plant and equipment		-			-			19,821			-
TOTAL OPERATING EXPENSES		1,300			21,409			23,518			42,070
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES		(1,287	)		(21,378	)		(23,454	)		(41,885	)
PROVISION FOR INCOME TAXES		-			-			-			-
NET LOSS FROM CONTINUING OPERATIONS	$	(1,287	)		(21,378	)	$	(23,454	)		(41,885	)
DISCONTINUED OPERATIONS
Net income		-			-			-			49,955
Gain on disposal of discontinued operations		-			-			-			115,468
NET INCOME FROM DISCONTINUED OPERATIONS	$	-			-		$	-			165,423
NET (LOSS) / INCOME FOR THE PERIOD	$	(1,287	)		(21,378	)	$	(23,454	)		123,538
OTHER COMPREHENSIVE INCOME		-			-			-			-
TOTAL COMPREHENSIVE (LOSS) / INCOME FOR THE PERIOD	$	(1,287	)		(21,378	)	$	(23,454	)		123,538
LOSS PER SHARE, BASIC AND DILUTED – CONTINUING OPERATIONS	$	(0.00	)		(0.00	)	$	(0.00	)		0.00
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED		81,912,000			81,912,000			81,912,000			78,260,474

See accompanying notes to the condensed consolidated financial statements

2

ASIAN TRENDS MEDIA HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

	For the nine months ended September 30,
	2012			2011
Cash flows from operating activities
Net loss from continuing operations	$	(23,454	)	$	(41,885	)
Depreciation		-			9,834
Impairment of property, plant and equipment		19,821			-
Changes in operating assets and liabilities:
Increase in accounts receivable		(64	)		(185	)
Decrease  in prepaid expenses and other receivables		-			18,955
Increase in accrued expenses and other payables		2,600			891
Net cash used in continuing operating activities		(1,097	)		(12,390	)
Net cash provided by discontinued operating activities		-			32,901
Net cash (used in) / provided by operating activities		(1,097	)		20,511
Cash flows from investing activities
Net cash used in continuing investing activities		-			-
Net cash used in discontinued investing activities		-			(188,817	)
Net cash used in investing activities		-			(188,817	)
Cash flows from financing activities
Increase in advance from a shareholder		1,097			(77,596	)
Net cash provided by / (used in) continuing financing activities		1,097			(77,596	)
Net cash provided by discontinued financing activities		-			-
Net cash provided by / (used in) financing activities		1,097			(77,596	)
Net (decrease) /increase in cash and cash equivalents
Continuing operations		-			(89,986	)
Discontinued operations		-			(155,916	)
		-			(245,902	)
Cash and cash equivalents at beginning of period
Continuing operations		-			89,986
Discontinued operations		-			155,916
		-			245,902
Cash and cash equivalents at end of period
Continuing operations		-			-
Discontinued operations		-			-
	$	-		$	-
Non cash financing activities:
Forfeiture of common stocks in disposal of subsidiaries	$	-		$	22,147
Cancellation of shares		-			256,412

See accompanying notes to the condensed consolidated financial statements

3

ASIAN TRENDS MEDIA HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES

The Company was incorporated under the laws of the State of Delaware.

At the beginning of 2010, The Company was principally engaged in operating liquid crystal display (“LCD”) flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On August 31, 2010 the Company closed an Agreement for a Share Exchange with Global Mania Empire Management Limited (“GME”) to acquire 100% ownership of GME from its shareholders. GME is a Hong Kong company that specializes in project and artist management.

On January 21, 2011, the Company entered into an Asset Sale, Purchase and Transfer Agreement (the "Sale Agreement") with the collective former shareholders of GME, namely Kwong Kwan Yin Roy, Dragon Billion International Limited, and Wong Wing Fung Charlie, each an individual resident of Hong Kong (collectively referred to as “Buyers").

According to the terms of the Sale Agreement, the Registrant sold its subsidiary Asian Trends Broadcasting Inc. (“ATBI”), a British Virgin Islands company and its subsidiaries GME, Great China Media Limited (“GCM”), a Hong Kong company, and Great China Game Limited (“GCG”), a Hong Kong company, to the Buyers. The consideration for the transaction shall consist of the return by the Buyers and surrender to the Registrant of a total of 22,147,810 shares of the Registrant’s common stock.

The project and artist management are reported as discontinued operations. The comparative amounts in consolidated statements of income and consolidated statements of cash flows that attributable to the discontinued operations are reclassified to conform to current year’s presentation.

The Company assigned the LCD flat-panel televisions and LCD billboards advertisement operations to Great China Media Limited (the “Assignee”), and in return the Assignee shall pay 5% of the gross proceeds from the business to the Company. Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.

NOTE 2 – BASIS OF PRESENTATION

The unaudited interim financial statements of the Company and the Company’s subsidiaries for the three months and nine months ended September 30, 2012 and 2011 have been prepared pursuant to the rules & regulations of the SEC. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the following disclosures are adequate to make the information presented not misleading.  All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company’s operations is the Hong Kong dollar (“HKD”), while the reporting currency is the US Dollar.

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

In the opinion of the management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2012, results of operations and cash flows for the three months and nine months ended September 30, 2012 have been made. The results of operations for the nine months ended September 30, 2012 are not necessarily indicative of the operating results for the full year.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)   Economic and Political Risk

The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.

The Company’s major operations in Hong Kong are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic, and legal environment. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things.

(b)   Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of six months or less to be cash equivalents. The Company maintains bank accounts in Hong Kong through its wholly-owned subsidiary.

4

(c)   Fair Value of Financial Instruments

The carrying amounts of financial instruments such as cash and accounts payable approximate their fair value because of the short maturities of these instruments. The fair value of receivables from associated companies and payables to associated companies are not practical to estimate based upon the related party nature of the underlying transactions.

(d)   Revenue Recognition

For continuing operations, the Company is principally engaged in operating LCD flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On December 15, 2010, the Company assigned the operations to the assignee, and in return the assignee shall pay 5% of the gross proceeds from the business to the Company.

Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.

(e)   Earnings Per Share

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.  As of the balance sheet dates, there were no dilutive securities outstanding.

(f)   Foreign Currency Translation

The accompanying condensed consolidated financial statements are presented in United States dollars.  The functional currency of the Company is Hong Kong Dollar (“HK$”). Capital accounts of the consolidated financial statements are translated into United States dollars (“US$”) from Hong Kong dollars (“HK$”) at their historical exchange rates when the capital transactions occurred.  Assets and liabilities are translated at the exchange rates as of the balance sheet date. Income and expenditures are translated at the average exchange rate during the period. The translation rates are as follows:

	September 30, 2012		December 31, 2011		September 30, 2011
Period/year end HK$ : US$ exchange rate		0.1282		0.1282		0.1282
Average yearly HK$ : US$ exchange rate		0.1282		0.1282		0.1282

(g)   Recent Accounting Pronouncements

The Company has adopted all recently issued accounting pronouncements. The adoption of these accounting pronouncements including those not yet in effect, is not anticipated to have a material effect on the financial statements of the Company.

NOTE 4 – PROPERTY AND EQUIPMENT

Property, plant and equipment of the Company consist primarily of computer and display equipment owned and operated by the Company. Property, plant and equipment as of September 30, 2012 and December 31, 2011 are summarized as follows:

	September 30, 2012		December 31, 2011
	(Unaudited)		(Audited)
At cost:
Computer equipment	$	-	$	13,147
Leasehold improvement		-		47,533
Office equipment		-		30,133
Furniture		-		11,632
Site display system		-		10,640
		-		113,085
Less: Accumulated depreciation		-		(93,264	)
Property, plant and equipment, net		-		19,821

5

Depreciation expenses for the nine months ended September 30, 2012 and 2011 were analyzed as follows:

	Nine months ended September 30, 2012		Nine months ended September 30, 2011
Attributable to continuing operations	$	-	$	9,834
Attributable to discontinued operations		-		-
		-		9,834

NOTE 5 – ADVANCE FROM SHAREHOLDERS

The advances from shareholders are unsecured, interest free and have no fixed terms of repayment.

NOTE 6 – GOING CONCERN

The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, the Company has an accumulated deficit of $1,139,325 and a working capital deficit of $422,868.

The Company may need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may dependent upon the continuing financial support of investors, directors and/or stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

6

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

Results of Operations – Three Months Ended September 30, 2012 as Compared to Three Months Ended September 30, 2011.

The following table summarizes the results of our operations during the three-month period ended September 30, 2012 and 2011.

	Three months ended September 30,							Increase /(decrease)			% Increase /(decrease)
	2012				2011
Revenue		$	13		$	31		$	(18	)		(58.06	%)
Cost of sales				-		-			-			N/A
Gross profit			13			31			(18	)		(58.06	%)
General & administrative			1,300			21,409			(20,109	)		(93.93	%)
Net Loss from operations			(1,287	)		(21,378	)		20,091			93.98	%
Provision for taxation			-			-			-			N/A
Net loss			(1,287	)		(21,378	)		20,091			93.98	%

General and administrative expenses

General and administrative expenses decreased from $21,409 in the three months of 2011 to $1,300 for the same period of 2012, representing a decrease of $20,109 or 93.93%.

Net income

Net loss for the three months ended September 30 of 2012 was $1,287 as compared to net loss for the same period in 2011 of $21,378.

Results of Operations – Nine months ended September 30, 2012 as compared to nine months ended September 30, 2011.

The following table summarizes the results of our operations during the three-month period ended September 30, 2012 and 2011.

	Nine months ended September 30,
	2012			2011		Increase /(decrease)			% Increase /(decrease)
Revenue	$	64		$	185	$	(121	)		(65.41	%)
Cost of sales		-			-		-			N/A
Gross profit		64			185		(121	)		(65.41	%)
General & administrative		23,518			42,070		(18,552	)		(44.10	%)
Net Loss from operations		(23,454	)		(41,885		(18,431	)		(44.00	%)
Net Income from disposal of discontinued operations		-			165,423		(165,423	)		N/A
Provision for taxation					-		-			N/A
Net loss		(23,454	)		123,538		(146,992	)		N/A

General and administrative expenses

General and administrative expenses decreased from $41,885 in the nine months of 2011 to $23,454 for the same period of 2012, representing an increase of $18,431 or 44.00%.

Net income

Net loss for the nine months ended September 30, 2012 was $23,454 as compared to net income for the same period in 2011 of $123,538.

Liquidity and Capital Resources from operations

Cash

Our cash balance at September 30, 2012 was $0, compared with our cash balance of $0 as at September 30, 2011. The cash balances remain stable compared with the same period in 2011.

7

Cash flow

Operating Activities

Net cash used in operating activities during the nine months ended September 30 of 2012 amounted to $1,097 comparing net cash used in operating activities of $89,986 in the same period of 2011.

Working capital

Our net current liabilities increased by $66,483 to $422,868 at September 30, 2012 from $356,385 at September 30, 2011.

Going Concern

The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, the Company has an accumulated deficit of $1,139,325 and a working capital deficit of $422,868.

The Company may need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may dependent upon the continuing financial support of investors, directors and/or stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no material changes in market risk since the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

ITEM 4.  CONTROLS AND PROCEDURES

Evaluation of disclosure controls and procedures

Our management, including our Chief Executive Officer and Chief Financial Officer, has concluded that our disclosure controls and procedures are appropriate and effective. They have evaluated these controls and procedures as of the date of this report on Form 10-Q. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Our management believes that our disclosure controls and procedures and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives and are effective at the reasonable assurance level. However, our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the controls. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected.

The Company’s management confirm that there was no change in the Company’s internal control over financial reporting during the quarter ended September 30, 2012 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

8

PART II – OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

There is no pending litigation by or against us.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.  [REMOVED AND RESERVED]

None.

ITEM 5.  OTHER INFORMATION

None

ITEM 6.  EXHIBITS

Exhibits

Exhibit Number	Description
31.1	Certification of Chief Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of Chief Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

9

SIGNATURES

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

		ASIAN TRENDS MEDIA HOLDINGS, INC.
Dated: November 14, 2012	By:	/s/ ZHI JIAN ZENG
		Zhi Jian Zeng
		Chief Executive Officer
Dated:  November 14, 2012	By:	/s/ HUANG JIAN NAN
		Huang Jian Nan
		Chief Financial Officer

10

EX-31.1

EXHIBIT 31.1

SECTION 302 CERTIFICATION

I, Zhi Jian Zeng, certify that: 

1.   I have reviewed this quarterly report on Form 10-Q of Asian Trends Media Holdings, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) 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.   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

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

5.   The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ Zhi Jian Zeng	Date: November14, 2012
Zhi Jian Zeng
Chief Executive Officer and Director

EX-31.2

EXHIBIT 31.2

SECTION 302 CERTIFICATION 

I, Huang Jian Nan, certify that: 

1.   I have reviewed this quarterly report on Form 10-Q of Asian Trends Media Holdings, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.   The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) 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.   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

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

5.   The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

/s/ Huang Jian Nan	Date: November 14, 2012
Huang Jian Nan
Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002 

The undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that this Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of Asian Trends Media Holdings, Inc. 

/s/ Zhi Jian Zeng	Date: November 14, 2012
Zhi Jian Zeng Chief Executive Officer and Director

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002 

The undersigned hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that this Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and the information contained in such report fairly presents, in all material respects, the financial condition and results of operations of Asian Trends Media Holdings, Inc. 

/s/ Huang Jian Nan	Date: November 14, 2012
Huang Jian Nan
Chief Financial Officer

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Note 4 - Property and Equipment

3 Months Ended

Sep. 30, 2012

Note 4 - Property and Equipment:

Note 4 - Property and Equipment

NOTE 4 – PROPERTY AND EQUIPMENT

Property, plant and equipment of the Company consist primarily of computer and display equipment owned and operated by the Company. Property, plant and equipment as of September 30, 2012 and December 31, 2011 are summarized as follows:

	September 30, 2012 (Unaudited)	December 31, 2011 (Audited)
At cost:
Computer equipment	-	$13,147
Leasehold improvement	-	47,533
Office equipment	-	30,133
Furniture	-	11,632
Site display system	-	10,640
	-	113,085
Less: Accumulated depreciation	-	(93,264)
Property, plant and equipment, net	-	19,821

Depreciation expenses for the nine months ended September 30, 2012 and 2011 were analyzed as follows:

	Nine months ended September 30, 2012	Nine months ended September 30, 2011
Attributable to continuing operations	-	$9,834
Attributable to discontinued operations	-	-
Depreciation	-	$9,834

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Note 3 - Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2012

Note 3 - Summary of Significant Accounting Policies:

Note 3 - Summary of Significant Accounting Policies

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Economic and Political Risk

The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.

The Company’s major operations in Hong Kong are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic, and legal environment. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things.

 (b) Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of six months or less to be cash equivalents. The Company maintains bank accounts in Hong Kong through its wholly-owned subsidiary.

 (c) Fair Value of Financial Instruments

The carrying amounts of financial instruments such as cash and accounts payable approximate their fair value because of the short maturities of these instruments. The fair value of receivables from associated companies and payables to associated companies are not practical to estimate based upon the related party nature of the underlying transactions.

 (d) Revenue Recognition

For continuing operations, the Company is principally engaged in operating LCD flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On December 15, 2010, the Company assigned the operations to the assignee, and in return the assignee shall pay 5% of the gross proceeds from the business to the Company.

Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.

(e) Earnings Per Share

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.  As of the balance sheet dates, there were no dilutive securities outstanding.

 (f) Foreign Currency Translation

The accompanying condensed consolidated financial statements are presented in United States dollars.  The functional currency of the Company is Hong Kong Dollar (“HK$”). Capital accounts of the consolidated financial statements are translated into United States dollars (“US$”) from Hong Kong dollars (“HK$”) at their historical exchange rates when the capital transactions occurred.  Assets and liabilities are translated at the exchange rates as of the balance sheet date. Income and expenditures are translated at the average exchange rate during the period. The translation rates are as follows:

	September 30, 2012	December 31, 2011	September 30, 2011
Period/year end HK$ : US$ exchange rate	0.1282	0.1282	0.1282
Average yearly HK$ : US$ exchange rate	0.1282	0.1282	0.1282

(g) Recent Accounting Pronouncement

The Company has adopted all recently issued accounting pronouncements. The adoption of these accounting pronouncements including those not yet in effect, is not anticipated to have a material effect on the financial statements of the Company.

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2012	Dec. 31, 2011
CURRENT ASSETS
Accounts receivable	$ 249	$ 185
Total current assets	249	185
PROPERTY, PLANT & EQUIPMENT, NET		19,821
TOTAL ASSETS	249	20,006
CURRENT LIABILITIES
Accounts payable	17,387	17,387
Accrued expenses and other payables	259,012	256,412
Advances from shareholders	17,654	17,654
Notes payable	129,064	127,967
Total current liabilities	423,117	419,420
TOTAL LIABILITIES	423,117	419,420
SHAREHOLDERS' EQUITY
Common stock, Par value $0.001, 225,000,000 shares authorized; $0.01 par value; 81,912,000 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	81,912	81,912
Additional paid in capital	634,545	634,545
Accumulated deficits	(1,139,325)	(1,115,871)
TOTAL SHAREHOLDERS' EQUITY	(422,868)	(399,414)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 249	$ 20,006

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Note 1 - Organization and Principal Activities

3 Months Ended

Sep. 30, 2012

Note 1 - Organization and Principal Activities:

Note 1 - Organization and Principal Activities

NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES

The Company was incorporated under the laws of the State of Delaware.

At the beginning of 2010, The Company was principally engaged in operating liquid crystal display (“LCD”) flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On August 31, 2010 the Company closed an Agreement for a Share Exchange with Global Mania Empire Management Limited (“GME”) to acquire 100% ownership of GME from its shareholders. GME is a Hong Kong company that specializes in project and artist management.

On January 21, 2011, the Company entered into an Asset Sale, Purchase and Transfer Agreement (the "Sale Agreement") with the collective former shareholders of GME, namely Kwong Kwan Yin Roy, Dragon Billion International Limited, and Wong Wing Fung Charlie, each an individual resident of Hong Kong (collectively referred to as “Buyers").

According to the terms of the Sale Agreement, the Registrant sold its subsidiary Asian Trends Broadcasting Inc. (“ATBI”), a British Virgin Islands company and its subsidiaries GME, Great China Media Limited (“GCM”), a Hong Kong company, and Great China Game Limited (“GCG”), a Hong Kong company, to the Buyers. The consideration for the transaction shall consist of the return by the Buyers and surrender to the Registrant of a total of 22,147,810 shares of the Registrant’s common stock.

The project and artist management are reported as discontinued operations. The comparative amounts in consolidated statements of income and consolidated statements of cash flows that attributable to the discontinued operations are reclassified to conform to current year’s presentation.

The Company assigned the LCD flat-panel televisions and LCD billboards advertisement operations to Great China Media Limited (the “Assignee”), and in return the Assignee shall pay 5% of the gross proceeds from the business to the Company. Revenue is recognizedin arrears on a quarterly basis and when collectability is reasonably assured.

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Note 2 - Basis of Presentation

3 Months Ended

Sep. 30, 2012

Note 2 - Basis of Presentation:

Note 2 - Basis of Presentation

NOTE 2 – BASIS OF PRESENTATION

The unaudited interim financial statements of the Company and the Company’s subsidiaries for the three months and nine months ended September 30, 2012 and 2011 have been prepared pursuant to the rules & regulations of the SEC. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the following disclosures are adequate to make the information presented not misleading.  All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company’s operations is the Hong Kong dollar (“HKD”), while the reporting currency is the US Dollar.

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.

In the opinion of the management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2012, results of operations and cash flows for the three months and nine months ended September 30, 2012 have been made. The results of operations for the nine months ended September 30, 2012 are not necessarily indicative of the operating results for the full year.

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	225,000,000	225,000,000
Common Stock, shares issued	81,912,000	81,912,000
Common Stock, shares outstanding	81,912,000	81,912,000

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Note 4 - Property and Equipment: Property, Plant and Equipment (Details) (USD $)	Dec. 31, 2011
Computer Equipment	$ 13,147
Leasehold Improvement	47,533
Office Equipment	30,133
Furniture	11,632
Site Display System	10,640
Property, Plant and Equipment, Gross	113,085
Less: Accumulated Depreciation	(93,264)
PROPERTY, PLANT & EQUIPMENT, NET	$ 19,821

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Document and Entity Information	3 Months Ended
	Sep. 30, 2012
Document and Entity Information
Entity Registrant Name	Asian Trends Media Holdings, Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	false
Entity Central Index Key	0001306035
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	81,912,000
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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Note 4 - Property and Equipment: Schedule of Property, Plant and Equipment Depreciation (Details) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Attributable to continuing operations		$ 9,834
Depreciation		$ 9,834

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
CONTINUING OPERATIONS
REVENUES	$ 13	$ 31	$ 64	$ 185
GROSS PROFIT	13	31	64	185
EXPENSES
General and administrative (inclusive of depreciation)	1,300	21,409	3,697	42,070
Impairment of property, plant and equipment			19,821
TOTAL OPERATING EXPENSES	1,300	21,409	23,518	42,070
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES	(1,287)	(21,378)	(23,454)	(41,885)
NET LOSS FROM CONTINUING OPERATIONS	(1,287)	(21,378)	(23,454)	(41,885)
DISCONTINUED OPERATIONS
Net income				49,955
Gain on disposal of discontinued operations				115,468
NET INCOME FROM DISCONTINUED OPERATIONS				165,423
NET (LOSS) / INCOME FOR THE PERIOD	(1,287)	(21,378)	(23,454)	123,538
TOTAL COMPREHENSIVE (LOSS) / INCOME FOR THE PERIOD	$ (1,287)	$ (21,378)	$ (23,454)	$ 123,538
LOSS PER SHARE, BASIC AND DILUTED - CONTINUING OPERATIONS	$ 0.00	$ 0.00	$ 0.00	$ 0.00
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED	81,912,000	81,912,000	81,912,000	78,260,474

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Note 3 - Summary of Significant Accounting Policies (Policies)

3 Months Ended

Sep. 30, 2012

Policies (Detail level 2):

(a) Economic and Political Risk

(a) Economic and Political Risk

The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.

The Company’s major operations in Hong Kong are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic, and legal environment. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things.

(b) Cash and Cash Equivalents

 (b) Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of six months or less to be cash equivalents. The Company maintains bank accounts in Hong Kong through its wholly-owned subsidiary.

(c) Fair Value of Financial Instruments

 (c) Fair Value of Financial Instruments

The carrying amounts of financial instruments such as cash and accounts payable approximate their fair value because of the short maturities of these instruments. The fair value of receivables from associated companies and payables to associated companies are not practical to estimate based upon the related party nature of the underlying transactions.

(d) Revenue Recognition

 (d) Revenue Recognition

For continuing operations, the Company is principally engaged in operating LCD flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On December 15, 2010, the Company assigned the operations to the assignee, and in return the assignee shall pay 5% of the gross proceeds from the business to the Company.

Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.

(e) Earnings Per Share

(e) Earnings Per Share

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.  As of the balance sheet dates, there were no dilutive securities outstanding.

(f) Foreign Currency Translation

 (f) Foreign Currency Translation

The accompanying condensed consolidated financial statements are presented in United States dollars.  The functional currency of the Company is Hong Kong Dollar (“HK$”). Capital accounts of the consolidated financial statements are translated into United States dollars (“US$”) from Hong Kong dollars (“HK$”) at their historical exchange rates when the capital transactions occurred.  Assets and liabilities are translated at the exchange rates as of the balance sheet date. Income and expenditures are translated at the average exchange rate during the period. The translation rates are as follows:

	September 30, 2012	December 31, 2011	September 30, 2011
Period/year end HK$ : US$ exchange rate	0.1282	0.1282	0.1282
Average yearly HK$ : US$ exchange rate	0.1282	0.1282	0.1282

(g) Recent Accounting Pronouncement

(g) Recent Accounting Pronouncement

The Company has adopted all recently issued accounting pronouncements. The adoption of these accounting pronouncements including those not yet in effect, is not anticipated to have a material effect on the financial statements of the Company.

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Note 6 - Going Concern

3 Months Ended

Sep. 30, 2012

Note 6 - Going Concern:

Note 6 - Going Concern

NOTE 6 – GOING CONCERN

The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, the Company has an accumulated deficit of $1,139,325 and a working capital deficit of $422,868.

The Company may need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may dependent upon the continuing financial support of investors, directors and/or stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

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Note 6 - Going Concern (Details) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Accumulated deficits	$ 1,139,325	$ 1,115,871
TOTALSHAREHOLDERS' EQUITY	$ 422,868	$ 399,414

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Note 1 - Organization and Principal Activities (Details)	3 Months Ended
	Sep. 30, 2012	Aug. 31, 2010
Business acquisition, precent of voting interest acquired		100.00%
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued	22,147,810
Advertisement Operations Agreement, Description	The Company assigned the LCD flat-panel televisions and LCD billboards advertisement operations to Great China Media Limited (the “Assignee”), and in return the Assignee shall pay 5% of the gross proceeds from the business to the Company. Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.

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Note 3 - Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules (Detail level 3):

Foreign Currency Exchange Rate in Period

	September 30, 2012	December 31, 2011	September 30, 2011
Period/year end HK$ : US$ exchange rate	0.1282	0.1282	0.1282
Average yearly HK$ : US$ exchange rate	0.1282	0.1282	0.1282

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Note 4 - Property and Equipment (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules (Detail level 3):

Property, Plant and Equipment

	September 30, 2012 (Unaudited)	December 31, 2011 (Audited)
At cost:
Computer equipment	-	$13,147
Leasehold improvement	-	47,533
Office equipment	-	30,133
Furniture	-	11,632
Site display system	-	10,640
	-	113,085
Less: Accumulated depreciation	-	(93,264)
Property, plant and equipment, net	-	19,821

Schedule of Property, Plant and Equipment Depreciation

	Nine months ended September 30, 2012	Nine months ended September 30, 2011
Attributable to continuing operations	-	$9,834
Attributable to discontinued operations	-	-
Depreciation	-	$9,834

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Note 3 - Summary of Significant Accounting Policies: (f) Foreign Currency Translation: Foreign Currency Exchange Rate in Period (Details)	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011
Period/year End Hk$ : Us$ Exchange Rate	0.1282	0.1282	0.1282
Average yearly HK$ : US$ exchange rate	0.1282	0.1282	0.1282

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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities
Net loss from continuing operations	$ (23,454)	$ (41,885)
Depreciation		9,834
Impairment of property, plant and equipment	19,821
Changes in operating assets and liabilities:
Increase in accounts receivable	(64)	(185)
Decrease in prepaid expenses and other receivables		18,955
Increase in accrued expenses and other payables	2,600	891
Net cash used in continuing operating activities	(1,097)	(12,390)
Net cash provided by discontinued operating activities		32,901
Net cash (used in) / provided by operating activities	(1,097)	20,511
Cash flows from investing activities
Net cash used in continuing investing activities
Net cash used in discontinued investing activities		(188,817)
Net cash used in investing activities		(188,817)
Cash flows from financing activities
Increase in advance from a shareholder	1,097	(77,596)
Net cash provided by / (used in) continuing financing activities	1,097	(77,596)
Net cash provided by discontinued financing activities
Net cash provided by / (used in) financing activities	1,097	(77,596)
Net (decrease) /increase in cash and cash equivalents
Continuing operations		(89,986)
Discontinued operations		(155,916)
Net (decrease) /increase in cash and cash equivalents		(245,902)
Cash and cash equivalents at beginning of period
Continuing operations		89,986
Discontinued operations		155,916
Cash and cash equivalents at beginning of period		245,902
Cash and cash equivalents at end of period
Continuing operations
Discontinued operations
Cash and cash equivalents at end of period
Non cash financing activities:
Forfeiture of common stocks in disposal of subsidiaries		22,147
Cancellation of shares		$ 256,412

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Note 5 - Advance From Shareholders

3 Months Ended

Sep. 30, 2012

Note 5 - Advance From Shareholders:

Note 5 - Advance From Shareholders

NOTE 5 – ADVANCE FROM SHAREHOLDERS

The advances from shareholders are unsecured, interest free and have no fixed terms of repayment.