0001554795-16-000915.txt : 20161114 0001554795-16-000915.hdr.sgml : 20161111 20161114150016 ACCESSION NUMBER: 0001554795-16-000915 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 60 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161114 DATE AS OF CHANGE: 20161114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AJ GREENTECH HOLDINGS. CENTRAL INDEX KEY: 0001394108 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 472148252 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-53737 FILM NUMBER: 161993983 BUSINESS ADDRESS: STREET 1: 136-20 38TH AVE. STREET 2: UNIT 3G CITY: FLUSHING STATE: NY ZIP: 11354 BUSINESS PHONE: 718-395-8706 MAIL ADDRESS: STREET 1: 136-20 38TH AVE. STREET 2: UNIT 3G CITY: FLUSHING STATE: NY ZIP: 11354 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN JIANYE GREENTECH HOLDINGS, LTD. DATE OF NAME CHANGE: 20100330 FORMER COMPANY: FORMER CONFORMED NAME: Gateway Certifications, Inc. DATE OF NAME CHANGE: 20070322 10-Q 1 ajgh1114form10q.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_______________

FORM 10-Q

☑ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

For the transition period from ______ to _______

Commission File Number 000-53737

AJ GREENTECH HOLDINGS, LTD.

(Exact name of registrant as specified in its charter)

Nevada

(State of incorporation)

136-20 38th Ave. Unit 3G

Flushing, NY 11354

(Address of Principal Executive Offices)

_______________

718-395-8706
(Issuer Telephone number)

_______________

Check whether the issuer (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. 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 ☑ No ☐

Indicate by check mark whether the registrant is a larger accelerated filer, an accelerated filer, or a non-accelerated 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 ☑

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

At September 30, 2016, there were 58,985,537 shares of the registrant's common stock issued and outstanding.

AJ GREENTECH HOLDINGS, LTD.

FORM 10-Q

September 30, 2016

INDEX

PART I-- FINANCIAL INFORMATION

Item 1.	Financial Statements
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations
Item 3.	Quantitative and Qualitative Disclosures About Market Risk
Item 4.	Control and Procedures

PART II-- OTHER INFORMATION

Item 1	Legal Proceedings
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds
Item 3.	Defaults Upon Senior Securities
Item 4.	Mine Safety Disclosures
Item 5.	Other Information
Item 6.	Exhibits
SIGNATURES

AJ Greentech Holdings, Ltd.

September 30, 2016 and 2015

Index to the consolidated financial statements

Contents	Page(s)
Consolidated Balance Sheets at September 30, 2016 (Unaudited) and December 31, 2015	F-2
Consolidated Statements of Income and Comprehensive Income for the three Months and nine Months Ended September 30, 2016 and 2015 (Unaudited)	F-3
Consolidated Statements of Cash Flows for the nine months Ended September 30, 2016 and 2015(Unaudited)	F-4
Notes to the Consolidated Financial Statements	F-5

F-1

AJ Greentech Holdings Ltd.
Consolidated Balance Sheets

	September 30, 2016			December 31,2015
	(Unaudited)			(Audited)

ASSETS
CURRENT ASSETS:
Cash		202,539			291,832
Accounts receivable		1,357,798			1,233,130
Inventories		—			—
Short-term investments		415,759			426,348
Prepayments and other current assets		77,793			1,016
Total Current Assets		2,053,889			1,952,326
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment		—			—
Accumulated depreciation		—			—
PROPERTY, PLANT AND EQUIPMENT, net		—			—
OTHER ASSETS		50,878			5,288
Total Assets		2,104,767			1,957,614
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Borrowings		407,674			512,268
Accounts payable		248,081			350,634
Advances from customers		—			—
Advances from related parties		84,837			84,837
Taxes payable		(414	)		25,196
Accrued expenses and other current liabilities		—			54,657
Total Current Liabilities		740,178			1,027,592
LONG TERM DEBT		574,333			361,752
Total Liabilities		1,314,511			1,389,344
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock (($0.001 par value; 394,500,000 shares authorized; 58,985,537 and 58,443,054 shares issued and outstanding at September 30, 2016 and December 31, 2015)		58,985			58,443
Additional paid-in capital		590,663			380,485
Retained earnings (Deficit)		(672,257	)		(646,232	)
Foreign currency translation gain (loss)		812,865			775,574
Total Stockholders' Equity		790,256			568,270
Total Liabilities and Stockholders' Equity		2,104,767			1,957,614

See accompanying notes to the consolidated financial statements.

F-2

AJ Greentech Holdings Ltd.
Consolidated Statements of Operations and Comprehensive Income (Unaudited)

	The three months ended September 30, 2016		The three months ended September 30, 2015		The nine months ended September 30,2016		The nine months ended September 30, 2015
NET REVENUES	347,504		539,306		1,449,627		2,454,064
COST OF REVENUES	286,718		449,869		1,193,502		2,046,982
GROSS PROFIT	60,786		89,437		256,125		407,082
OPERATING EXPENSES:
Selling and general and administrative expenses	80,302		481,806		258,968		558,201
Total operating expenses	80,302		481,806		258,968		558,201
Income from interest	19		143		64		199
Interest Expense	7,732		3,900		23,246		29,049
Other Income (expenses)	—		(118,994	)	—		(119,188	)
INCOME (LOSS) BEFORE INCOME TAXES	(27,229	)	(515,120	)	(26,025	)	(299,157	)
INCOME TAX PROVISION	—		(10,935	)	—		25,779
NET INCOME (LOSS)	(27,229	)	(504,185	)	(26,025	)	(324,936	)
OTHER COMPREHENSIVE INCOME:
Foreign currency translation gain (loss)	22,767		(51,449	)	37,291		(31,466	)
COMPREHENSIVE INCOME	(4,462	)	(555,634	)	11,266		(356,402	)
NET INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED:
Net loss per common share - basic and diluted	(0.00	)	(0.01	)	(0.00	)	(0.01	)
Weighted Average Common Shares Outstanding - basic and diluted	58,627,456		58,443,054		58,611,892		49,905,011

See accompanying notes to the consolidated financial statements.

F-3

AJ Greentech Holdings Ltd.
Consolidated Statements of Cash Flows
(Unaudited)

	The nine months ended September 30, 2016		The nine months ended September 30, 2015
Operating Activities, Cash Flows Provided By or Used In
Net income (Loss)	(26,025	)	(324,936	)
Adjustments to reconcile net loss to net cash used
in operating activities:
Depreciation	—		5,053
Loss on sale of PPE	—		115,682
Changes In operating assets and liabilities:
Accounts Receivables	(124,668	)	(587,348	)
Inventories	—		2,069
Prepayments Other Current Assets	(76,777	)	(493	)
Accrued Expenses and Other Current Liabilities	(54,657	)	(1,906	)
Accounts Payables	(102,553	)	947,293
Tax Payables	(25,610	)	9,785
Advances	—		(78,943	)
Total Cash Flow Provided by (Used in) Operating Activities	(410,290	)	86,256

Investing Activities, Cash Flows Provided By or Used In
Short term investment	10,589		78,950
Disposal of PPE	—		952,392
Other assets	(45,590	)	—
Total Cash Flows Provided by (Used in) Investing Activities	(35,001	)	1,031,342

Financing Activities, Cash Flows Provided By or Used In
Issuance of common stock	210,720		80,800
Advances from (repayment made to) related parties	—		(1,072,082	)
Capital contribution	—		—
Long term debt increased (repayment)	212,581		(368,551	)
Short term debt increased (repayment)	(104,594	)	288,308
Total Cash Flows Used in Financing Activities	318,707		(1,071,525	)

Effect Of Exchange Rate Changes	37,291		(36,328	)
Change In Cash and Cash Equivalents	(89,293	)	9,745
Cash at beginning of the period	291,832		198,906
Cash at end of the period	202,539		208,651
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid	23,246		28,850
Income tax paid	—		9,745

See accompanying notes to the consolidated financial statements.

F-4

AJ Greentech Holdings, Ltd.

September 30, 2016 and 2015

Notes to the Consolidated Financial Statements

(Unaudited)

Note 1 – Organization and Basis of presentation

Organization

AJ Greentech Holdings Ltd. is a Nevada corporation incorporated on August 30, 2006, under the name Gateway Certifications, Inc. On November 16, 2009, our corporate name was changed to American Jianye Greentech Holdings, Ltd. and on February 13, 2014, our corporate name was changed to AJ Greentech Holdings, Ltd.

From November 2009 until October 2013, through our China subsidiaries, we were engaged in design, marketing and distributing of alcohol base clean fuel that are designed to use less fossil fuel and have less pollution than traditional fuel.

On October 31, 2013, pursuant to agreements with one of our former directors, we transferred the stock in our China subsidiaries to the former director in exchange for cancellation of debt totaling $240,000. As a result of the transfer of the subsidiaries, we were no longer engaged in the China cleanfuel business. We transferred the stock of the China subsidiaries because we felt that, it not our best interest to continue China cleanfuel business as a result of our decreasing revenue, continued losses and inability to raise capital for our business

On October 31, 2013, Chu Li An acquired, for nominal consideration, 8,000,000 shares of common stock from the director who acquired the subsidiaries and 12,778,399 shares of common stock from The Chairman, who was also a director. On November 1, 2013, Chu Li An and the Company entered into a loan agreement pursuant to which the Chu Li An agreed to lend us $100,000 initially with future loan amount up to $1,000,000, for which we will issue our 6% demand promissory note in the principal amount of $100,000. As of September 30, 2016, the note has not been issued.

On November 18, 2013, we entered into agreement pursuant to which we issued to Chu Li An and her BVI company, our sole director and chief executive officer, 180,000,000 shares of common stock, in consideration of the cancellation of debt due to Chu Li An in the amount of $180,000.

On November 30, 2013, the Company entered into an agreement to acquire all of the issued and outstanding stock of Jin Chih International, Ltd., a Taiwan corporation, from its sole owner Chu Li An for five million shares of the Company’s common stock. On May 10, 2016, the shares were issued to Chu Li An.

As a result of the above transactions, we carry out the electronic products and general cargo trading and related consulting service business through our subsidiary named Jin Chih International, Ltd in Taiwan. We still plan to focus on providing greentech products outside of China in future. Even though the company has disposed China branches, the company's new management will continue to expand the current green energy and technology business in the United States and globally, at the same time to explore much other green and renewable energy such as solar, wind power, sea power by signing licensing agreement or joint venture with other research institutes.

Basis of presentation

The accompanying consolidated financial statements of AJ Greentech Holdings Ltd. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).

F-5

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Segment Information

ASC 280 requires companies to report information about operating segment in interim and annual financial statements. It also requires segment disclosures about products and services geographic and major customers. The Company has determined that it does not have any separately reportable operating segments.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company follows paragraph 310-10-50-9 of the FASB Accounting Standards Codification to estimate the allowance for doubtful accounts. The Company performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customer’s current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and economic conditions.

Outstanding account balances are reviewed individually for collectability. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. Bad debt expense is included in general and administrative expenses, if any. Pursuant to paragraph 310-10-50-2 of the FASB Accounting Standards Codification account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company has adopted paragraph 310-10-50-6 of the FASB Accounting Standards Codification and determine when receivables are past due or delinquent based on how recently payments have been received.

Inventories

The Company values inventories, consisting of raw materials, packaging material and finished goods, at the lower of cost or market. Cost is determined on the first-in and first-out (“FIFO”) method for raw materials and packaging materials and the weighted average cost method for finished goods. Cost of finished goods comprises direct labor, direct materials, direct production cost and an allocated portion of production overhead. The Company reduces inventories for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, (iii) competitive pricing pressures, (iv)new product introductions, (v) product expiration dates, and (vi) component and packaging obsolescence.

F-6

The Company evaluates its current level of inventories considering historical sales and other factors and, based on this evaluation, classify inventory markdowns in the income statement as a component of cost of goods sold pursuant to Paragraph 420-10-S99 of the FASB Accounting Standards Codification to adjust inventories to net realizable value. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. Other significant estimates include the allocation of variable and fixed production overheads. While variable production overheads are allocated to each unit of production on the basis of actual use of production facilities, the allocation of fixed production overhead to the costs of conversion is based on the normal capacity of the Company’s production facilities, and recognizes abnormal idle facility expenses as current period charges. Certain costs, including categories of indirect materials, indirect labor and other indirect manufacturing costs which are included in the overhead pools are estimated. The management of the Company determines its normal capacity based upon the amount of operating hours of the manufacturing machinery and equipment in a reporting period.

Revenue Recognition

The Company’s revenue recognition policies are in compliance with ASC 605 (Originally issued as Staff Accounting Bulletin (SAB) 104). Revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue. Discounts provided to customers by the Company at the time of sale are recognized as a reduction in sales as the products are sold. Sales taxes are not recorded as a component of sales.

The Company derives its revenues from sales contracts with customers with revenues being generated upon the shipment of merchandise. Persuasive evidence of an arrangement is demonstrated via sales invoice or contract; product delivery is evidenced by warehouse shipping log as well as a signed acknowledgement of receipt from the customers or a signed bill of lading from the third party trucking company and title transfers upon shipment, based on free on board (“FOB”) warehouse terms; the sales price to the customer is fixed upon acceptance of the signed purchase order or contract and there is no separate sales rebate, discount, or volume incentive. When the Company recognizes revenue, no provisions are made for returns because, historically, there have been very few sales returns and adjustments that have impacted the ultimate collection of revenues.

The Company markets and distributes electronic products and general cargo for automobile use and follows Section 605-45-45 (formerly EITF 99-19) (“ASC Section 605-45-45”) of the FASB Accounting Standards Codification for revenue recognition to report revenue gross as a principal for its sales since the Company (1) acts as principal in the transaction, (2) takes title to the products, (3) has risks and rewards of ownership, such as the risk of loss for collection, delivery, or returns, and (4) does not act as an agent or broker (including performing services, in substance, as an agent or broker) with compensation on a commission or fee basis on its sales. The management of the Company determined that the Company should report revenue based on the gross amount billed to a customer when considering each of the following eight (8) indicators of gross revenue reporting listed in ASC Paragraph 605-45-45-4 through 605-45-45-14 as specified (1) The entity is the primary obligor in the arrangement — The Company signs a product sales agreement with its customer and represents in writing that the Company is responsible for fulfillment, including the acceptability of the product(s) or service(s) ordered or purchased by the customer; (2) The entity has general inventory risk (before customer order is placed or upon customer return); (3) The entity has latitude in establishing price — The Company has reasonable latitude, within economic constraints, to establish the exchange price with a customer for the product or service; (4) The entity changes the product or performs part of the service — The Company developed a method for blending the raw materials in its manufacturing process, through its proprietary technology, catalysts can be mixed with fuel and alcohols to become a finished product to be sold after pumping and piping; (5) The entity has discretion in supplier selection — The Company has multiple suppliers for the products ordered by a customer and discretion to select the supplier that will provide the product(s) or service(s) ordered by a customer; (6) The entity is involved in the determination of product or service specifications — The Company determines the nature, type, characteristics, or specifications of the product(s) or service(s) ordered by the customer; (7) The entity has physical loss inventory risk of purchased inventories after customer order; and (8) The entity has credit risk — The Company is responsible for collecting the sales price from its customer but must pay the amount owed to its supplier after the supplier performs, regardless of whether the sales price is fully collected.

F-7

Net sales of products represent the invoiced value of goods, net of value added taxes (“VAT”). The Company is subject to VAT which is levied on all of the Company’s products at the rate of 5% on the invoiced value of sales. Sales or Output VAT is borne by customers in addition to the invoiced value of sales and Purchase or Input VAT is borne by the Company in addition to the invoiced value of purchases to the extent not refunded for export sales.

Fair Value of Financial Instruments

The fair values of the Company’s accrued expenses and other current liabilities approximate their carrying values due to the relatively short maturities of these instruments. The carrying value of the Company’s short and long term debt approximates fair value based on management’s best estimate of the interest rates that would be available for similar debt obligations having similar terms at the balance sheet date.

Impairment of Long-Lived Assets

The Company accounts for the impairment and disposition of long-lived assets in accordance with ASC 360, Property, Plant and Equipment. The Company periodically evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset were less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value.

The assumptions used by management in determining the future cash flows are critical. In the event these expected cash flows are not realized, future impairment losses may be recorded.

Income Taxes

The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.

The Company adopted ASC 740-10-25, Income Taxes- Overall-Recognition, on January 1, 2007, which provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax position. The Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company did not recognize any additional liabilities for uncertain tax positions as a result of the implementation of ASC 740-10-25.

Net Income (Loss) per Share

The Company calculates its basic and diluted earnings per share in accordance with ASC 260. Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share are calculated by adjusting the weighted average outstanding shares to assume conversion of all potentially dilutive warrants and options and convertible securities.

F-8

Translation Adjustment

The Company’s financial statements are presented in the U.S. dollar ($), which is the Company’s reporting and functional currency. The functional currency of the Company’s subsidiaries is TWD. Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange prevailing at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of operations.

In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from TWD into U.S. dollar are recorded in stockholders’ equity as part of accumulated other comprehensive income. The exchange rates used for the financial statements in accordance with ASC 830, Foreign Currency Matters, are as follows:

Average Rate for the nine months ended on:	September 30, 2016	September 30, 2015
Taiwan dollar (TWD)	1	1
United States dollar ($)	0.0309	0.0312

Exchange Rate at	September 30, 2016	December 31, 2015
Taiwan dollar (TWD)	1	1
United States dollar ($)	0.0319	0.0304

Comprehensive Income (Loss)

Comprehensive income (loss) includes accumulated foreign currency translation gains and losses with respect to the spun-off entities and the operating entity in Taiwan.

Recently Issued Accounting Pronouncements

In August 2014, the FASB issued the FASB Accounting Standards Update No. 2014-15 “Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).

In connection with preparing financial statements for each annual and interim reporting period, an entity’s management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies.

When management identifies conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern, management should consider whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The mitigating effect of management’s plans should be considered only to the extent that (1) it is probable that the plans will be effectively implemented and, if so, (2) it is probable that the plans will mitigate the conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.

If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, but the substantial doubt is alleviated as a result of consideration of management’s plans, the entity should disclose information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the footnotes):

F-9

Principal conditions or events that raised substantial doubt about the entity’s ability to continue as a going concern (before consideration of management’s plans)

Management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations

Management’s plans that alleviated substantial doubt about the entity’s ability to continue as a going concern.

If conditions or events raise substantial doubt about an entity’s ability to continue as a going concern, and substantial doubt is not alleviated after consideration of management’s plans, an entity should include a statement in the footnotes indicating that there is substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued). Additionally, the entity should disclose information that enables users of the financial statements to understand all of the following:

Principal conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern

Management’s evaluation of the significance of those conditions or events in relation to the entity’s ability to meet its obligations

Management’s plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern.

The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.

Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

Note 3 – Going Concern

There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support the Company’s working capital requirements. To the extent that funds generated from any private placements, public offering and/or bank financing are insufficient to support the Company’s working capital requirements, the Company will have to raise additional working capital from additional financing. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may not be able continue its operations.

These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

F-10

Note 4 – Accounts Receivable

Accounts receivable at September 30, 2016 and December 31, 2015 consisted of the following:

	September 30, 2016		December 31, 2015
	(Unaudited)
Accounts receivable	$	1,357,798	$	1,233,130
Allowance for doubtful accounts		—		—
	$	1,357,798	$	1,233,130

Note 5 – Short term investment

For the year ended December 31, 2015, the Company sold out 200,000 shares per $10TWD of GaoPing XiNeng electric power Co., Ltd and 47,000 shares per $10.036TWD issued by YangXin commercial bank Co., Ltd.

For the period ended September 30, 2016, the Company sold out 100,000 shares per $10TWD of GaoPing XiNeng electric power Co., Ltd.

Note 6 – Property, Plant and Equipment

Property, plant and equipment, stated at cost, less accumulated depreciation at September 30, 2016 and December 31, 2015 consisted of the following:

		September 30, 2016		December 31, 2015
		(Unaudited)
Land	$	—	$	—
Buildings		—		—
Office equipments		—		—
		—		—
Less: Accumulated depreciation		—		—
Total	$	—	$	—

On July 6, 2015, the Company sold out the land and Buildings. For the nine months ended September 30, 2016 and 2015, the Company recorded depreciation expense of nil and $5,053, respectively.

Note 7 – Prepayments and other current assets

	September 30, 2016		December 31, 2015
	(Unaudited)
Advance on purchase	$	77,338	$	551
Prepayments		455		465
	$	77,793	$	1,016

F-11

Note 8 – Borrowing

	September 30, 2016	Term	Int. Rate/Year
	(Unaudited)
GuoTai ShiHua bank	41,007	Nov. 18, 2015 to Nov. 18, 2016	5.28%
GuoTai ShiHua bank	31,114	Nov. 18, 2015 to Nov. 18, 2016	5.28%
Long term debt -the term less than 1 year
Ban Xin commercial bank	43,615	Repaid before Sep. 30, 2017	3.69%
YangXin commercial bank	105,628	Repaid before Sep. 30, 2017	4.17%
YangXin commercial bank	101,057	Repaid before Sep. 30, 2017	3.49%
TaiWan medium-sized and small enterprises bank	51,059	Repaid before Sep. 30, 2017	3.73%
Number one commercial bank	34,194	Repaid before Sep. 30, 2017	5.18%
Total	$ 407,674

	December 31, 2015	Term	Int. Rate/Year
Number one commercial bank	$ 91,200	Jul. 30, 2015 to Jan. 30, 2016	5.25%
Number one commercial bank	91,200	Aug. 4, 2015 to Feb. 4, 2016	5.25%
GuoTai ShiHua bank	69,160	Nov. 18, 2015 to Nov. 18, 2016	5.28%
GuoTai ShiHua bank	29,566	Nov. 18, 2015 to Nov. 18, 2016	5.28%
Long term debt -the term less than 1 year
Ban Xin commercial bank	41,654	Repaid before Dec. 31, 2016	3.69%
YangXin commercial bank	101,019	Repaid before Dec. 31, 2016	4.17%
YangXin commercial bank	39,829	Repaid before Dec. 31, 2016	5.30%
TaiWan medium-sized and small enterprises bank	48,640	Repaid before Dec. 31, 2016	3.73%
Total	$ 512,268

The long term debt should be repaid as equal principal by month. The long term debt -the term less than 1 year represented the amount should be repaid within 1 year.

NOTE 9 – RELATED PARTY TRANSACTIONS

The total amount advance from related parties consisted of the advance from shareholders for the investment, working capital and the expense. The balance was $84,837 and $84,837 as of September 30, 2016 and December 31, 2015, respectively.

During the nine months ended September 30, 2015, the Company returned $1,072,082 to shareholder, Chu Li An.

NOTE 10 – LONG TERM DEBT

	September 30, 2016	Term	Int. Rate/Year
	(Unaudited)
Ban Xin commercial bank	$ 36,462	Jun. 10, 2015 to Jun. 10, 2018	3.69%
YangXin commercial bank	40,569	Jan. 21, 2015 to Jan. 21, 2018	4.17%
TaiWan medium-sized and small enterprises bank	153,178	Sep. 25, 2015 to Sep. 25, 2020	3.73%
Number one commercial bank	134,482	Jan. 30, 2016 to Jan. 30, 2021	5.18%
YangXin Commercial bank	209,642	Aug. 5, 2016 to Aug. 5, 2019	3.49%
Total	$ 574,333

	December 31, 2015	Term	Int. Rate/Year
Ban Xin commercial bank	$ 65,635	Jun. 10, 2015 to Jun. 10, 2018	3.69%
YangXin commercial bank	113,718	Jan. 21, 2015 to Jan. 21, 2018	4.17%
TaiWan medium-sized and small enterprises bank	182,400	Sep. 25, 2015 to Sep. 25, 2020	3.73%
Total	$ 361,752

The long term debt should be repaid as equal principal by month. The long term debt -the term less than 1 year represented the amount should be repaid within 1 year.

F-12

NOTE 11 - TAXES PAYABLE

		September 30, 2016			December 31, 2015
		(Unaudited)
Income tax payable	$			$	23,694
Value added tax payable		(414	)		1,502
Total	$	(414	)	$	25,196

NOTE 12 – INCOME TAXES

The Company did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because the Company has experienced operating losses for U.S. federal income tax purposes since inception. When it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit. The operating subsidiary is organized and located in the TaiWan and does not conduct any business in the United States.

Taxation on profits earned in the TaiWan has been calculated on the estimated assessable profits for the year at the rates of taxation prevailing in the TaiWan where the Company operates after taking into account the benefits from any special tax credits or “tax holidays” allowed in the county of operations.

In accordance with the relevant tax laws in the TaiWan, the Company statutory rate were 17% and 17% for the nine months ended September 30, 2016 and year ended December 31, 2015, respectively.

The components of the income tax (benefit) expense are as follows:

		The nine months ended September 30, 2016		The year ended December 31, 2015
		(Unaudited)
Current provision	$	—	$	41,407
Deferred provision (benefit)		—		—
Total	$	—	$	41,407

NOTE 13 – COMMON STOCK

On April 7, 2014, the shareholder, Chu Li An contributed $165,500 capital to the Company.

On June 30, 2015, the Company made a reverse split of its common stock at the rate of 1 for 1500.

On July 10, 2015, the Company issued 50,000,000 shares with a par value of $0.001 per share for cash. The cash was finally offset with debt cancel due to shareholder.

On July 10, 2015, the Company issued 800,000 shares with a par value of $0.01 per share in exchange for consulting services of $8,000.

On August 6, 2015, the Company issued 5,000,000 shares with a par value of $0.001 per share and 2,500,000 shares with a par value of $0.01 per share for cash. The cash was finally offset with debt cancel due to shareholder.

On April 4, 2016, the Company issued 5,000 shares to two investors with a par value of $4.00 per share for cash.

On May 10, 2016, the Company issued 2,000 shares to an investor with a par value of $4.00 per share for cash.

On May 10, 2016, the Company issued 3,000 shares to an investor with a par value of $5.00 per share for cash.

On May 10, 2016, the Company issued 21,000 shares to an investor with a par value of $4.7619 per share for cash.

F-13

On May 10, 2016, the Company issued 3,333 shares to the shareholder Chu Li An for the acquisition of Jin Chih International, Ltd., a Taiwan corporation on November 30, 2013.

On July 12, 2016, the Company issued 1,600 shares to six investors with a par value of $10.00 per share for Cash.

On July 12, 2016, the Company issued 700 shares to an investor with a par value of $10.2857 per share for Cash.

On July 12, 2016, the Company issued 500,000 shares with a par value of $0.01 per share in exchange for consulting services of $5,000.

On July 12, 2016, the Company issued 1,250 shares to an investor with a par value of $2.4 per share for Cash.

On Aug 7, 2016, the Company issued 200 shares to an investor with a par value of $14 per share for Cash.

On Aug 7, 2016, the Company issued 2,000 shares with a par value of $0.01 per share in exchange for consulting services of $20.

On Sep 6, 2016, the Company issued 2,400 shares to an investor with a par value of $14 per share for Cash.

The Company’s capitalization is 394,500,000 common shares with a par value of $0.001 per share. There are a total of 58,985,537 and 58,443,054 common shares issued and outstanding at September 30, 2016 and December 31, 2015. No preferred shares have been authorized or issued.

NOTE 14 – FOREIGN OPERATIONS

Operations

Substantially all of the Company’s operations are carried out and all of its assets are located in the TaiWan. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the TaiWan. The Company’s business may be influenced by changes in governmental policies with respect to laws and regulations, monetary policies, anti-inflationary measures, currency fluctuation and remittances and methods of taxation, among other things.

Dividends and Reserves

Under the laws of the TaiWan, net income after taxation can only be distributed as dividends after appropriation has been made for the following: (i) cumulative prior years’ losses, if any; (ii) allocations to the “Statutory Surplus Reserve” of at least 10% of net income after tax, as determined under TaiWan accounting rules and regulations, until the fund amounts to 50% of the Company’s registered capital; (iii) allocations of 5-10% of income after tax, as determined under TaoWan accounting rules and regulations, to the Company’s “Statutory Common Welfare Fund”, which is established for the purpose of providing employee facilities and other collective benefits to employees in PRC; and (iv) allocations to any discretionary surplus reserve, if approved by stockholders.

As of September 30, 2016, the Company had no Statutory Surplus Reserve and the Statutory Common Welfare Fund established and segregated in retained earnings.

F-14

NOTE 15 - COMMITMENT AND CONTINGENCIES

The Company had bank loans. Based on the contract agreement, the future minimum repayments required for the coming years are as follows:

Periods ending September 30:

2017 $ 407,674

2018 263,340

2019 186,312

2020 92,782

Remaining payments 31,899

Total 982,007

The Company did not have other significant capital commitments or significant guarantees as of September 30, 2016, respectively.

NOTE 16 –SUBSEQUENT EVENTS

The Company has performed an evaluation of subsequent events in accordance with ASC Topic 855 and the Company is not aware of any other subsequent events which would require recognition or disclosure in the financial statements.

F-15

Item 2. Management's Discussion and Analysis Of Financial Condition And Plan Of Operation.

This Quarterly Report contains forward-looking statements within the meaning of the federal securities laws. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "management believes" and similar language. The forward-looking statements are based on the current expectations of the Company and are subject to certain risks, uncertainties and assumptions, including those set forth in the discussion under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this report. Actual results may differ materially from results anticipated in these forward-looking statements. We base the forward-looking statements on information currently available to us, and we assume no obligation to update them.

Investors are also advised to refer to the information in our previous filings with the Securities and Exchange Commission (SEC), especially on Forms 10-K, 10-Q and 8-K, in which we discuss in more detail various important factors that could cause actual results to differ from expected or historic results. It is not possible to foresee or identify all such factors. As such, investors should not consider any list of such factors to be an exhaustive statement of all risks and uncertainties or potentially inaccurate assumptions.

Overview

From November 2009 until October, 2013, through our China subsidiary, we were engaged in design, marketing and distributing of alcohol base clean fuel which are designed to use less fossil fuel and have less pollution than traditional fuel.

On October 31, 2013, pursuant to agreements with one of our former directors, we transferred the stock in our China subsidiaries to the former director in exchange for cancellation of debt totaling $240,000. As a result of the transfer of the subsidiaries, we were no longer engaged in the China cleanfuel business. We transferred the stock of the China subsidiaries because we felt that, it's not our best interest to continue China cleanfuel business as a result of our decreasing revenue, continued losses and inability to raise capital for our business.

On November 30, 2013, the company entered into an agreement to acquire all of the issued and outstanding stock of Jin Chih International, Ltd., a Taiwan corporation, from its sole owner Chu Li An for five million shares of the Company’s common stock. On May 10, 2016, the shares has been issued to Chu Li An.

As a result of the above transactions, we carry out the electronic products and general cargo trading and related consulting service business through our subsidiary named Jin Chih International, Ltd in Taiwan. We still plan to focus on providing greentech products outside of China in future. Even though the company has disposed China branches, the company's new management will continue to expand the current green energy and technology business in the United States and globally, at the same time to explore many other green and renewable energy such as solar, wind power, sea power by signing licensing agreement or joint venture with other research institutes.

Results of Operations

For the three and nine months ended September 30, 2016, we derived our revenues of $347,504 and $1,449,627 compared to $539,306 and $2,454,064 for the three and nine months ended September 30, 2015, representing an decrease of $191,802 and 1,004,437. Our sales came from the electronic products and general cargo trading and related consulting service to our customers operated by the Taiwan subsidiary.

Selling, general and administrative expenses consist of provision for doubtful debts, primarily of payroll, local taxes, investor relation expenses and professional fees. Selling, general and administrative expenses for the three and nine months ended September30, 2016 were $80,302 and $258,968, comparing to $481,806 and $558,201 for the last period, representing a significant change as the consulting fees decreased.

Our business operates primarily in Taiwanese Dollars (“TWD”), but we report our results in our SEC filings in U.S. Dollars. The conversion of our accounts from TWD to Dollars results in translation adjustments. While our net income is added to the retained earnings on our balance sheets; the translation adjustments are added to a line item on our balance sheets labeled “accumulated other comprehensive income,” since it is more reflective of changes in the relative values of U.S. and Taiwanese currencies than of the success of our business. During the nine months ended September 30, 2016, the effect of converting our financial results to U.S. Dollars was to increase $37,291 to our accumulated other comprehensive income.

Liquidity and Capital Resources

Our operations to date have been funded primarily by operations, due from related parties and capital contributions.

At September 30, 2016 and December 31, 2015, we had cash and cash equivalents of $202,539 and $291,832, respectively. Our cash at September 30, 2016 was decreased by $89,293 from December 31, 2015.

Our current assets at September 30, 2016 were $2,053,889, compared to $1,952,326 at December 31, 2015. This increase mainly reflects increase in accounts receivable and prepayments and partially offset by decreases in cash, short-term investments.

Our current liabilities at September 30, 2016 were $740,178 compared to $1,027,592 at December 31, 2015. This decrease mainly reflects the decrease of borrowing, account payable, tax payable and accrued expenses and other current liabilities.

Statements of Cash Flows

Our cash decreased $89,293 during the first nine months of 2016, as compared to the increased $9,745 during 2015. In the first nine months of 2016, we used cash the amounts of $410,290 and $35,001 in operating activities and investing activities, we obtained cash the amounts of $318,707 from our financing activities. In the first nine months of 2015, we obtained cash in the amount of $86,256 and $1,031,342 from operating activities and investing activities, we used cash the amounts of $1,071,525 in our financing activities.

Net Cash provided by (Used in) Operating Activities

In the first nine months of 2016, net cash used in operating activities of $410,290 comprised of the net loss $26,025, and the decrease in operating assets and liabilities $384,265.

In the first nine months of 2015, net cash provided by operating activities of $86,256 comprised of the net loss $324,936, the depreciation and amortization $5,053, the Loss on sale of PPE $115,682 and the increase in operating assets and liabilities $290,457.

Cash Provided by (Used in) Investing Activities

In the first nine months of 2016, net cash used in investing activities of $35,001 comprised of the decrease of $10,589 short-term investment and the increase of $45,590 other assets .

In the first nine months of 2015, net cash provided by investing activities of $1,031,342 comprised of the decrease of $78,950 short-term investment and $952,392 Disposal of PPE.

Cash Provided by (Used in) Financing Activities

In the first nine months of 2016, net cash provided by financing activities of $318,707 consisted of the issuance of common stock $210,720, the increased long term debt $212,581, and repayment of borrowing $104,594.

In the first nine months of 2015, cash used in financing activities of $1,071,525 consisted of the advance from related party repayment of $1,072,082, the decrease of long term debt 368,551 and the increase of borrowing $288,308 and shares issued $80,800.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.

Critical Accounting Policies and Estimates

This discussion and analysis of our financial condition and results of operations are based on our financial statements that have been prepared under accounting principle generally accepted in the United States of America. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect 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 reporting period. Actual results could differ from those estimates.

A summary of significant accounting policies is included in Note 2 to the consolidated financial statements included in this Annual Report. Of these policies, we believe that the following items are the most critical in preparing our financial statements.

Accounts Receivable and Allowance for Doubtful Accounts

Inventories

The Company values inventories, consisting of raw materials, packaging material and finished goods, at the lower of cost or market. Cost is determined on the first-in and first-out (“FIFO”) method for raw materials and packaging materials and the weighted average cost method for finished goods. Cost of finished goods comprises direct labor, direct materials, direct production cost and an allocated portion of production overhead. The Company reduces inventories for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, (iii) competitive pricing pressures, (iv) new product introductions, (v) product expiration dates, and (vi) component and packaging obsolescence.

Revenue Recognition

The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.

Foreign Currency Translation

The Company follows Section 830-10-45 of the FASB Accounting Standards Codification (“Section 830-10-45”) for foreign currency translation to translate the financial statements of the foreign subsidiary from the functional currency, generally the local currency, into U.S. Dollars. Section 830-10-45 sets out the guidance relating to how a reporting entity determines the functional currency of a foreign entity (including of a foreign entity in a highly inflationary economy), re-measures the books of record (if necessary), and characterizes transaction gains and losses. The assets, liabilities, and operations of a foreign entity shall be measured using the functional currency of that entity. An entity’s functional currency is the currency of the primary economic environment in which the entity operates; normally, that is the currency of the environment, or local currency, in which an entity primarily generates and expends cash.

The functional currency of each foreign subsidiary is determined based on management’s judgment and involves consideration of all relevant economic facts and circumstances affecting the subsidiary. Generally, the currency in which the subsidiary transacts a majority of its transactions, including billings, financing, payroll and other expenditures, would be considered the functional currency, but any dependency upon the parent and the nature of the subsidiary’s operations must also be considered. If a subsidiary’s functional currency is deemed to be the local currency, then any gain or loss associated with the translation of that subsidiary’s financial statements is included in accumulated other comprehensive income. However, if the functional currency is deemed to be the U.S. Dollar, then any gain or loss associated with the re-measurement of these financial statements from the local currency to the functional currency would be included in the consolidated statements of income and comprehensive income (loss). If the Company disposes of foreign subsidiaries, then any cumulative translation gains or losses would be recorded into the consolidated statements of income and comprehensive income (loss). If the Company determines that there has been a change in the functional currency of a subsidiary to the U.S. Dollar, any translation gains or losses arising after the date of change would be included within the statement of income and comprehensive income (loss).

Based on an assessment of the factors discussed above, the management of the Company determined the relevant subsidiaries’ local currencies to be their respective functional currencies.

The financial records of the Company's Taiwan operating subsidiaries acquired on November 30, 2013 are maintained in their local currency, the “TWD”, which is also the functional currency. Assets and liabilities are translated from the local currency into the reporting currency, U.S. dollars, at the exchange rate prevailing at the balance sheet date. Revenues and expenses are translated at weighted average exchange rates for the period to approximate translation at the exchange rates prevailing at the dates those elements are recognized in the consolidated financial statements. Foreign currency translation gain (loss) resulting from the process of translating the local currency financial statements into U.S. dollars are included in determining accumulated other comprehensive income in the consolidated statement of stockholders’ equity.

Most Recent accounting pronouncements

Refer to note 2 in the accompanying consolidated financial statements.

Impact of Accounting Pronouncements

There were no recent accounting pronouncements that have had a material effect on the Company’s financial position or results of operations.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not required for smaller reporting companies.

Item 4. Controls and Procedures.

Disclosure Controls and Procedures

Regulations under the Securities Exchange Act of 1934 (the “Exchange Act”) require public companies to maintain “disclosure controls and procedures,” which are defined as controls and other procedures that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

We conducted an evaluation, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of September 30, 2016. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of September 30, 2016, our disclosure controls and procedures were not effective at the reasonable assurance level due to the material weaknesses described below.

In light of the material weaknesses described below, we performed additional analysis to ensure our financial statements were prepared in accordance with generally accepted accounting principles. Accordingly, we believe that the financial statements included in this report fairly present, in all material respects, our financial condition, results of operations and cash flows for the periods presented.

A material weakness is a control deficiency (within the meaning of the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 2) or combination of control deficiencies that result in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Management has identified the following two material weaknesses which have caused management to conclude that, as of September 30, 2016, our disclosure controls and procedures were not effective at the reasonable assurance level:

1. We do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act which is applicable to us for the quarter ending September 30, 2016. Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

2. We do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

To address these material weaknesses, management performed additional analyses and other procedures to ensure that the financial statements included herein fairly present, in all material respects, our financial position, results of operations and cash flows for the periods presented.

Management's Report on Internal Control over Financial Reporting.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the company in accordance with as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable assurance regarding the (i) effectiveness and efficiency of operations, (ii) reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, and (iii) compliance with applicable laws and regulations. Our internal controls framework is based on the criteria set forth in the Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Due to inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies and procedures may deteriorate.

A material weakness in internal controls is a deficiency in internal control, or combination of control deficiencies, that adversely affects the Company’s ability to initiate, authorize, record, process, or report external financial data reliably in accordance with accounting principles generally accepted in the United States of America such that there is more than a remote likelihood that a material misstatement of the Company’s annual or interim financial statements that is more than inconsequential will not be prevented or detected. In the course of making our assessment of the effectiveness of internal controls over financial reporting, we identified some material weaknesses in our internal control over financial reporting.

We lack sufficient personnel with the appropriate level of knowledge, experience and training in the application of accounting operations of our company. This weakness causes us to not fully identify and resolve accounting and disclosure issues that could lead to a failure to perform timely internal control and reviews.

Management is currently reviewing its staffing and systems in order to remedy the weaknesses identified in this assessment. However, because of the above condition, management’s assessment is that the Company’s internal controls over financial reporting were not effective as of September 30, 2016. Additionally, the Registrant’s management has concluded that the Registrant has a material weakness associated with its U.S. GAAP expertise.

This Report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.

Management's Remediation Initiatives

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

We intend to our personnel resources and technical accounting expertise within the accounting function. First, we intend to create a position to segregate duties consistent with control objectives of having separate individuals perform (i) the initiation of transactions, (ii) the recording of transactions and (iii) the custody of assets. Second, we intend to create a senior position to focus on financial reporting and standardizing and documenting our accounting procedures with the goal of increasing the effectiveness of the internal controls in preventing and detecting misstatements of accounting information. Third, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us. We anticipate the costs of implementing these remediation initiatives will be approximately $37,500 to $50,000 a year in increased salaries, legal and accounting expenses.

Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

To the best knowledge of the officers and directors, the Company was not a party to any legal proceeding or litigation as of September 30, 2016.

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

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

Exhibit No.		Description
31.1		Chief Executive Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Chief Financial Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Chief Executive Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002
32.2		Chief Financial Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002
101		The following materials from AJ Greentech Holdings, Ltd.’s Quarterly Report on Form 10-Q for the period ended September 30, 2016 are formatted in eXtensible Business Reporting Language (XBRL): (i) the Condensed Consolidated Balance Sheet; (ii) the Condensed Consolidated Statement of Operations;, (iii) the Condensed Consolidated Statements of Cash Flows, and (iv) Notes to Condensed Consolidated Financial Statements. This Exhibit 101 is deemed not filed for purposes of Sections 11 or 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections

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.

	AJ GREENTECH HOLDINGS LTD.

Date: November 14, 2016	By:	/s/ Chu Li An
		Chu Li An Chief Executive Officer

	AJ GREENTECH HOLDINGS LTD.

Date: November 14, 2016	By:	/s/ Chu Li An
		Chu Li An Chief Financial Officer

EX-31.1 2 ajgh1114form10qexh31_1.htm EXHIBIT 31.1

Exhibit 31.1

Certification Pursuant to Section 302 of the Sarbanes- Oxley Act of 2022

I, Chu Li An, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AJ Greentech Holdings, Ltd. (the “Registrant”);

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

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

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

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

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

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

(d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of 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 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.

Dated: November 14, 2016

By: /s/ Chu Li An

Name: Chu Li An

Title: Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 ajgh1114form10qexh31_2.htm EXHIBIT 31.2

Exhibit 31.2

Certification Pursuant to Section 302 of the Sarbanes- Oxley Act of 2022

I, Chu Li An, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AJ Greentech Holdings, Ltd.;

(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.

Dated: November 14, 2016

By: /s/ Chu Li An

Name: Chu Li An

Title: Chief Financial Officer

(Principal Accounting Officer)

EX-32.1 4 ajgh1114form10qexh32_1.htm EXHIBIT 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

In connection with the Quarterly Report of AJ Greentech Holdings, Ltd. (the “Registrant”) on Form 10-Q for the quarter ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Chu Li An, as CEO of the Company, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d), as applicable of the Securities Exchange Act of 1934; and

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

Dated: November 14, 2016

By: /s/ Chu Li An

Name: Chu Li An

Title: Chief Executive Officer

(Principal Executive Officer)

A signed original of this written statement required by Section 906 has been provided to AJ Greentech Holdings, Ltd. and will be retained by AJ Greentech Holdings, Ltd. and furnished to the Securities and Exchange Commission or its staff .

EX-32.2 5 ajgh1114form10qexh32_2.htm EXHIBIT 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

In connection with the Quarterly Report of AJ Greentech Holdings, Ltd. (the “Registrant”) on Form 10-Q for the quarter ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Chu Li An, as Chief Financial Officer hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d), as applicable of the Securities Exchange Act of 1934; and

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

Dated: November 14, 2016

By: /s/ Chu Li An

Name: Chu Li An

Title: Chief Financial Officer

(Principal Accounting Officer)

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NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   Use of Estimates   The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.   Segment Information   ASC 280 requires companies to report information about operating segment in interim and annual financial statements. It also requires segment disclosures about products and services geographic and major customers. The Company has determined that it does not have any separately reportable operating segments.   Accounts Receivable and Allowance for Doubtful Accounts   Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company follows paragraph 310-10-50-9 of the FASB Accounting Standards Codification to estimate the allowance for doubtful accounts. The Company performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customers current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and economic conditions.   Outstanding account balances are reviewed individually for collectability. The allowance for doubtful accounts is the Companys best estimate of the amount of probable credit losses in the Companys existing accounts receivable. Bad debt expense is included in general and administrative expenses, if any. Pursuant to paragraph 310-10-50-2 of the FASB Accounting Standards Codification account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company has adopted paragraph 310-10-50-6 of the FASB Accounting Standards Codification and determine when receivables are past due or delinquent based on how recently payments have been received.   Inventories   The Company values inventories, consisting of raw materials, packaging material and finished goods, at the lower of cost or market. Cost is determined on the first-in and first-out (FIFO) method for raw materials and packaging materials and the weighted average cost method for finished goods. Cost of finished goods comprises direct labor, direct materials, direct production cost and an allocated portion of production overhead. The Company reduces inventories for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, (iii) competitive pricing pressures, (iv)new product introductions, (v) product expiration dates, and (vi) component and packaging obsolescence.   The Company evaluates its current level of inventories considering historical sales and other factors and, based on this evaluation, classify inventory markdowns in the income statement as a component of cost of goods sold pursuant to Paragraph 420-10-S99 of the FASB Accounting Standards Codification to adjust inventories to net realizable value. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. Other significant estimates include the allocation of variable and fixed production overheads. While variable production overheads are allocated to each unit of production on the basis of actual use of production facilities, the allocation of fixed production overhead to the costs of conversion is based on the normal capacity of the Companys production facilities, and recognizes abnormal idle facility expenses as current period charges. Certain costs, including categories of indirect materials, indirect labor and other indirect manufacturing costs which are included in the overhead pools are estimated. The management of the Company determines its normal capacity based upon the amount of operating hours of the manufacturing machinery and equipment in a reporting period.   Revenue Recognition   The Companys revenue recognition policies are in compliance with ASC 605 (Originally issued as Staff Accounting Bulletin (SAB) 104). Revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue.   Discounts provided to customers by the Company at the time of sale are recognized as a reduction in sales as the products are sold. Sales taxes are not recorded as a component of sales.    The Company derives its revenues from sales contracts with customers with revenues being generated upon the shipment of merchandise. Persuasive evidence of an arrangement is demonstrated via sales invoice or contract; product delivery is evidenced by warehouse shipping log as well as a signed acknowledgement of receipt from the customers or a signed bill of lading from the third party trucking company and title transfers upon shipment, based on free on board (FOB) warehouse terms; the sales price to the customer is fixed upon acceptance of the signed purchase order or contract and there is no separate sales rebate, discount, or volume incentive. When the Company recognizes revenue, no provisions are made for returns because, historically, there have been very few sales returns and adjustments that have impacted the ultimate collection of revenues.   The Company markets and distributes electronic products and general cargo for automobile use and follows Section 605-45-45 (formerly EITF 99-19) (ASC Section 605-45-45) of the FASB Accounting Standards Codification for revenue recognition to report revenue gross as a principal for its sales since the Company (1) acts as principal in the transaction, (2) takes title to the products, (3) has risks and rewards of ownership, such as the risk of loss for collection, delivery, or returns, and (4) does not act as an agent or broker (including performing services, in substance, as an agent or broker) with compensation on a commission or fee basis on its sales. The management of the Company determined that the Company should report revenue based on the gross amount billed to a customer when considering each of the following eight (8) indicators of gross revenue reporting listed in ASC Paragraph 605-45-45-4 through 605-45-45-14 as specified (1) The entity is the primary obligor in the arrangement The Company signs a product sales agreement with its customer and represents in writing that the Company is responsible for fulfillment, including the acceptability of the product(s) or service(s) ordered or purchased by the customer; (2) The entity has general inventory risk (before customer order is placed or upon customer return); (3) The entity has latitude in establishing price The Company has reasonable latitude, within economic constraints, to establish the exchange price with a customer for the product or service; (4) The entity changes the product or performs part of the service The Company developed a method for blending the raw materials in its manufacturing process, through its proprietary technology, catalysts can be mixed with fuel and alcohols to become a finished product to be sold after pumping and piping; (5) The entity has discretion in supplier selection The Company has multiple suppliers for the products ordered by a customer and discretion to select the supplier that will provide the product(s) or service(s) ordered by a customer; (6) The entity is involved in the determination of product or service specifications The Company determines the nature, type, characteristics, or specifications of the product(s) or service(s) ordered by the customer; (7) The entity has physical loss inventory risk of purchased inventories after customer order; and (8) The entity has credit risk The Company is responsible for collecting the sales price from its customer but must pay the amount owed to its supplier after the supplier performs, regardless of whether the sales price is fully collected.   Net sales of products represent the invoiced value of goods, net of value added taxes (VAT). The Company is subject to VAT which is levied on all of the Companys products at the rate of 5% on the invoiced value of sales. Sales or Output VAT is borne by customers in addition to the invoiced value of sales and Purchase or Input VAT is borne by the Company in addition to the invoiced value of purchases to the extent not refunded for export sales.   Fair Value of Financial Instruments   The fair values of the Companys accrued expenses and other current liabilities approximate their carrying values due to the relatively short maturities of these instruments. The carrying value of the Companys short and long term debt approximates fair value based on managements best estimate of the interest rates that would be available for similar debt obligations having similar terms at the balance sheet date.   Impairment of Long-Lived Assets   The Company accounts for the impairment and disposition of long-lived assets in accordance with ASC 360, Property, Plant and Equipment. The Company periodically evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset were less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value.   The assumptions used by management in determining the future cash flows are critical. In the event these expected cash flows are not realized, future impairment losses may be recorded.     Income Taxes   The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.   The Company adopted ASC 740-10-25, Income Taxes- Overall-Recognition, on January 1, 2007, which provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax position. The Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company did not recognize any additional liabilities for uncertain tax positions as a result of the implementation of ASC 740-10-25.   Net Income (Loss) per Share   The Company calculates its basic and diluted earnings per share in accordance with ASC 260. Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share are calculated by adjusting the weighted average outstanding shares to assume conversion of all potentially dilutive warrants and options and convertible securities.    Translation Adjustment   The Companys financial statements are presented in the U.S. dollar ($), which is the Companys reporting and functional currency. The functional currency of the Companys subsidiaries is TWD. Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange prevailing at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of operations.   In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from TWD into U.S. dollar are recorded in stockholders equity as part of accumulated other comprehensive income. The exchange rates used for the financial statements in accordance with ASC 830, Foreign Currency Matters, are as follows:   <table cellspacing="0" cellpadding="0" style="width: 80%; font: 9pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="width: 53%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Average Rate for the nine months ended on:</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify"> </td> <td style="width: 23%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">September 30, 2016</td> <td style="width: 23%; padding-bottom: 1.5pt; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">September 30, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">1</td> <td style="font-size: 10pt; text-align: right">1</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0309</td> <td style="font-size: 10pt; text-align: right">0.0312</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Exchange Rate at</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">September 30, 2016</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">December 31, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right"> 1</td> <td style="font-size: 10pt; text-align: right">1 </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0319</td> <td style="font-size: 10pt; text-align: right">0.0304 </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> </table>   Comprehensive Income (Loss)   Comprehensive income (loss) includes accumulated foreign currency translation gains and losses with respect to the spun-off entities and the operating entity in Taiwan.   Recently Issued Accounting Pronouncements   In August 2014, the FASB issued the FASB Accounting Standards Update No. 2014-15 Presentation of Financial StatementsGoing Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern (ASU 2014-15).   In connection with preparing financial statements for each annual and interim reporting period, an entitys management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entitys ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). Managements evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entitys ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies.   When management identifies conditions or events that raise substantial doubt about an entitys ability to continue as a going concern, management should consider whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The mitigating effect of managements plans should be considered only to the extent that (1) it is probable that the plans will be effectively implemented and, if so, (2) it is probable that the plans will mitigate the conditions or events that raise substantial doubt about the entitys ability to continue as a going concern.   If conditions or events raise substantial doubt about an entitys ability to continue as a going concern, but the substantial doubt is alleviated as a result of consideration of managements plans, the entity should disclose information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the footnotes): <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Principal conditions or events that raised substantial doubt about the entitys ability to continue as a going concern (before consideration of managements plans)</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">c.</td><td style="text-align: justify">Managements plans that alleviated substantial doubt about the entitys ability to continue as a going concern.</td></tr></table>   If conditions or events raise substantial doubt about an entitys ability to continue as a going concern, and substantial doubt is not alleviated after consideration of managements plans, an entity should include a statement in the footnotes indicating that there is substantial doubt about the entitys ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued). Additionally, the entity should disclose information that enables users of the financial statements to understand all of the following:   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Principal conditions or events that raise substantial doubt about the entitys ability to continue as a going concern</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">c.</td><td style="text-align: justify">Managements plans that are intended to mitigate the conditions or events that raise substantial doubt about the entitys ability to continue as a going concern.</td></tr></table>   The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.   Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

<table cellspacing="0" cellpadding="0" style="width: 80%; font: 9pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; width: 53%">Average Rate for the nine months ended on:</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center; width: 23%">September 30, 2016</td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1.5pt; font-size: 10pt; text-align: center; width: 23%">September 30, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">1</td> <td style="font-size: 10pt; text-align: right">1</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0309</td> <td style="font-size: 10pt; text-align: right">0.0312</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Exchange Rate at</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">September 30, 2016</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">December 31, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right"> 1</td> <td style="font-size: 10pt; text-align: right">1 </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0319</td> <td style="font-size: 10pt; text-align: right">0.0304 </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> </table>

0.0319

.0304

0.0309

0.0312

Note 4 Accounts Receivable   Accounts receivable at September 30, 2016 and December 31, 2015 consisted of the following:   <table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">September 30, 2016</td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">December 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: justify">Accounts receivable</td> <td style="width: 4%; text-align: justify"> </td> <td style="width: 1%; text-align: justify">$</td> <td style="width: 18%; text-align: right">1,357,798</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 1%; text-align: justify">$</td> <td style="width: 17%; text-align: right">1,233,130</td> <td style="width: 1%; text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Allowance for doubtful accounts</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: right">  </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: right">  </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify">$</td> <td style="padding-bottom: 2.5pt; text-align: right">1,357,798</td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="text-align: justify">$</td> <td style="text-align: right">1,233,130</td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td></tr> </table>

<table cellspacing="0" cellpadding="0" style="width: 90%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">September 30, 2016</td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="border-bottom: black 1pt solid; text-align: center">December 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="text-align: center">(Unaudited)</td> <td style="padding-bottom: 1pt; text-align: justify"> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; width: 56%">Accounts receivable</td> <td style="text-align: justify; width: 4%"> </td> <td style="text-align: justify; width: 1%">$</td> <td style="text-align: right; width: 18%">1,357,798</td> <td style="text-align: justify; width: 1%"> </td> <td style="text-align: justify; width: 1%"> </td> <td style="text-align: justify; width: 1%">$</td> <td style="text-align: right; width: 17%">1,233,130</td> <td style="text-align: justify; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Allowance for doubtful accounts</td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: right">  </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: right">  </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify">$</td> <td style="padding-bottom: 2.5pt; text-align: right">1,357,798</td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td> <td style="text-align: justify">$</td> <td style="text-align: right">1,233,130</td> <td style="padding-bottom: 2.5pt; text-align: justify"> </td></tr> </table>

1357798

1233130

Note 6 Property, Plant and Equipment   Property, plant and equipment, stated at cost, less accumulated depreciation at September 30, 2016 and December 31, 2015 consisted of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; width: 51%"> </td><td style="font-weight: bold; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">September 30, 2016</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom; width: 3%"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">December 31, 2015</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Land</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Buildings</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office equipments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated depreciation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> </table>   On July 6, 2015, the Company sold out the land and Buildings. For the nine months ended September 30, 2016 and 2015, the Company recorded depreciation expense of nil and $5,053, respectively.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; width: 51%"> </td><td style="font-weight: bold; padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">September 30, 2016</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom; width: 3%"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">December 31, 2015</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Land</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Buildings</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office equipments</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Accumulated depreciation</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

Use of Estimates   The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Segment Information   ASC 280 requires companies to report information about operating segment in interim and annual financial statements. It also requires segment disclosures about products and services geographic and major customers. The Company has determined that it does not have any separately reportable operating segments.

Revenue Recognition   The Companys revenue recognition policies are in compliance with ASC 605 (Originally issued as Staff Accounting Bulletin (SAB) 104). Revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue.   Discounts provided to customers by the Company at the time of sale are recognized as a reduction in sales as the products are sold. Sales taxes are not recorded as a component of sales.    The Company derives its revenues from sales contracts with customers with revenues being generated upon the shipment of merchandise. Persuasive evidence of an arrangement is demonstrated via sales invoice or contract; product delivery is evidenced by warehouse shipping log as well as a signed acknowledgement of receipt from the customers or a signed bill of lading from the third party trucking company and title transfers upon shipment, based on free on board (FOB) warehouse terms; the sales price to the customer is fixed upon acceptance of the signed purchase order or contract and there is no separate sales rebate, discount, or volume incentive. When the Company recognizes revenue, no provisions are made for returns because, historically, there have been very few sales returns and adjustments that have impacted the ultimate collection of revenues.   The Company markets and distributes electronic products and general cargo for automobile use and follows Section 605-45-45 (formerly EITF 99-19) (ASC Section 605-45-45) of the FASB Accounting Standards Codification for revenue recognition to report revenue gross as a principal for its sales since the Company (1) acts as principal in the transaction, (2) takes title to the products, (3) has risks and rewards of ownership, such as the risk of loss for collection, delivery, or returns, and (4) does not act as an agent or broker (including performing services, in substance, as an agent or broker) with compensation on a commission or fee basis on its sales. The management of the Company determined that the Company should report revenue based on the gross amount billed to a customer when considering each of the following eight (8) indicators of gross revenue reporting listed in ASC Paragraph 605-45-45-4 through 605-45-45-14 as specified (1) The entity is the primary obligor in the arrangement The Company signs a product sales agreement with its customer and represents in writing that the Company is responsible for fulfillment, including the acceptability of the product(s) or service(s) ordered or purchased by the customer; (2) The entity has general inventory risk (before customer order is placed or upon customer return); (3) The entity has latitude in establishing price The Company has reasonable latitude, within economic constraints, to establish the exchange price with a customer for the product or service; (4) The entity changes the product or performs part of the service The Company developed a method for blending the raw materials in its manufacturing process, through its proprietary technology, catalysts can be mixed with fuel and alcohols to become a finished product to be sold after pumping and piping; (5) The entity has discretion in supplier selection The Company has multiple suppliers for the products ordered by a customer and discretion to select the supplier that will provide the product(s) or service(s) ordered by a customer; (6) The entity is involved in the determination of product or service specifications The Company determines the nature, type, characteristics, or specifications of the product(s) or service(s) ordered by the customer; (7) The entity has physical loss inventory risk of purchased inventories after customer order; and (8) The entity has credit risk The Company is responsible for collecting the sales price from its customer but must pay the amount owed to its supplier after the supplier performs, regardless of whether the sales price is fully collected.   Net sales of products represent the invoiced value of goods, net of value added taxes (VAT). The Company is subject to VAT which is levied on all of the Companys products at the rate of 5% on the invoiced value of sales. Sales or Output VAT is borne by customers in addition to the invoiced value of sales and Purchase or Input VAT is borne by the Company in addition to the invoiced value of purchases to the extent not refunded for export sales.

Fair Value of Financial Instruments   The fair values of the Companys accrued expenses and other current liabilities approximate their carrying values due to the relatively short maturities of these instruments. The carrying value of the Companys short and long term debt approximates fair value based on managements best estimate of the interest rates that would be available for similar debt obligations having similar terms at the balance sheet date.

Impairment of Long-Lived Assets   The Company accounts for the impairment and disposition of long-lived assets in accordance with ASC 360, Property, Plant and Equipment. The Company periodically evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If the estimated future cash flows (undiscounted and without interest charges) from the use of an asset were less than the carrying value, a write-down would be recorded to reduce the related asset to its estimated fair value.   The assumptions used by management in determining the future cash flows are critical. In the event these expected cash flows are not realized, future impairment losses may be recorded.

Income Taxes   The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.   The Company adopted ASC 740-10-25, Income Taxes- Overall-Recognition, on January 1, 2007, which provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax position. The Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company did not recognize any additional liabilities for uncertain tax positions as a result of the implementation of ASC 740-10-25.

Net Income (Loss) per Share   The Company calculates its basic and diluted earnings per share in accordance with ASC 260. Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share are calculated by adjusting the weighted average outstanding shares to assume conversion of all potentially dilutive warrants and options and convertible securities.

Translation Adjustment   The Companys financial statements are presented in the U.S. dollar ($), which is the Companys reporting and functional currency. The functional currency of the Companys subsidiaries is TWD. Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of operations. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange prevailing at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of operations.   In accordance with ASC 830, Foreign Currency Matters, the Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from TWD into U.S. dollar are recorded in stockholders equity as part of accumulated other comprehensive income. The exchange rates used for the financial statements in accordance with ASC 830, Foreign Currency Matters, are as follows:   <table cellspacing="0" cellpadding="0" style="width: 80%; font: 9pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="width: 53%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Average Rate for the nine months ended on:</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify"> </td> <td style="width: 23%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">September 30, 2016</td> <td style="width: 23%; padding-bottom: 1.5pt; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">September 30, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">1</td> <td style="font-size: 10pt; text-align: right">1</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0309</td> <td style="font-size: 10pt; text-align: right">0.0312</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify">Exchange Rate at</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">September 30, 2016</td> <td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">December 31, 2015</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify">Taiwan dollar (TWD)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right"> 1</td> <td style="font-size: 10pt; text-align: right">1 </td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="font-size: 10pt; text-align: justify">United States dollar ($)</td> <td style="font-size: 10pt; text-align: right"> </td> <td style="font-size: 10pt; text-align: right">0.0319</td> <td style="font-size: 10pt; text-align: right">0.0304 </td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td> <td style="font-size: 10pt; text-align: justify"> </td></tr> </table>

Comprehensive Income (Loss)   Comprehensive income (loss) includes accumulated foreign currency translation gains and losses with respect to the spun-off entities and the operating entity in Taiwan.

Note 7  Prepayments and other current assets   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">September 30, 2016</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">December 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom">(Unaudited)</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: black; text-align: justify; width: 51%">Advance on purchase</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 20%">77,338</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 20%">551</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: black; text-align: justify">Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">77,793</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">1,016</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">September 30, 2016</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">December 31, 2015</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom">(Unaudited)</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: black; text-align: justify; width: 51%">Advance on purchase</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 20%">77,338</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 20%">551</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: black; text-align: justify">Prepayments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">465</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">77,793</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">1,016</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

77338

551

455

465

NOTE 9 RELATED PARTY TRANSACTIONS   The total amount advance from related parties consisted of the advance from shareholders for the investment, working capital and the expense. The balance was $84,837 and $84,837 as of September 30, 2016 and December 31, 2015, respectively.   During the nine months ended September 30, 2015, the Company returned $1,072,082 to shareholder, Chu Li An.

NOTE 11 - TAXES PAYABLE   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; width: 51%"> </td><td style="font-weight: bold; width: 2%"> </td> <td style="font-weight: bold; text-align: left; width: 1%"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">September 30, 2016</td><td style="font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom; width: 3%"> </td> <td style="font-weight: bold; text-align: center; vertical-align: bottom; width: 1%"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom; width: 20%">December 31, 2015</td><td style="font-weight: bold; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom">(Unaudited)</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="color: black; text-align: justify">Income tax payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right"></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">23,694</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="color: black; text-align: justify">Value added tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(414</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,502</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">(414</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"></td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">25,196</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>   NOTE 12  INCOME TAXES   The Company did not provide any current or deferred U.S. federal income tax provision or benefit for any of the periods presented because the Company has experienced operating losses for U.S. federal income tax purposes since inception. When it is more likely than not that a tax asset cannot be realized through future income the Company must allow for this future tax benefit.  The operating subsidiary is organized and located in the TaiWan and does not conduct any business in the United States.   Taxation on profits earned in the TaiWan has been calculated on the estimated assessable profits for the year at the rates of taxation prevailing in the TaiWan where the Company operates after taking into account the benefits from any special tax credits or tax holidays allowed in the county of operations.   In accordance with the relevant tax laws in the TaiWan, the Company statutory rate were 17% and 17% for the nine months ended September 30, 2016 and year ended December 31, 2015, respectively.   The components of the income tax (benefit) expense are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">The nine months ended September 30, 2016</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">The year ended December 31, 2015</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(Unaudited)</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Current provision</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 25%; text-align: right">  </td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 22%; text-align: right">41,407</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred provision (benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">41,407</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

NOTE 14 FOREIGN OPERATIONS   Operations   Substantially all of the Companys operations are carried out and all of its assets are located in the TaiWan. Accordingly, the Companys business, financial condition and results of operations may be influenced by the political, economic and legal environments in the TaiWan. The Companys business may be influenced by changes in governmental policies with respect to laws and regulations, monetary policies, anti-inflationary measures, currency fluctuation and remittances and methods of taxation, among other things.   Dividends and Reserves   Under the laws of the TaiWan, net income after taxation can only be distributed as dividends after appropriation has been made for the following: (i) cumulative prior years losses, if any; (ii) allocations to the Statutory Surplus Reserve of at least 10% of net income after tax, as determined under TaiWan accounting rules and regulations, until the fund amounts to 50% of the Companys registered capital; (iii) allocations of 5-10% of income after tax, as determined under TaoWan accounting rules and regulations, to the Companys Statutory Common Welfare Fund, which is established for the purpose of providing employee facilities and other collective benefits to employees in PRC; and (iv) allocations to any discretionary surplus reserve, if approved by stockholders.   As of September 30, 2016, the Company had no Statutory Surplus Reserve and the Statutory Common Welfare Fund established and segregated in retained earnings.

394500000

Note 1 Organization and Basis of presentation   Organization   AJ Greentech Holdings Ltd. is a Nevada corporation incorporated on August 30, 2006, under the name Gateway Certifications, Inc.  On November 16, 2009, our corporate name was changed to American Jianye Greentech Holdings, Ltd. and on February 13, 2014, our corporate name was changed to AJ Greentech Holdings, Ltd.   From November 2009 until October 2013, through our China subsidiaries, we were engaged in design, marketing and distributing of alcohol base clean fuel that are designed to use less fossil fuel and have less pollution than traditional fuel.     On October 31, 2013, pursuant to agreements with one of our former directors, we transferred the stock in our China subsidiaries to the former director in exchange for cancellation of debt totaling $240,000.  As a result of the transfer of the subsidiaries, we were no longer engaged in the China cleanfuel business.  We transferred the stock of the China subsidiaries because we felt that, it not our best interest to continue China cleanfuel business as a result of our decreasing revenue, continued losses and inability to raise capital for our business   On October 31, 2013, Chu Li An acquired, for nominal consideration, 8,000,000 shares of common stock from the director who acquired the subsidiaries and 12,778,399 shares of common stock from The Chairman, who was also a director.  On November 1, 2013, Chu Li An and the Company entered into a loan agreement pursuant to which the Chu Li An agreed to lend us $100,000 initially with future loan amount up to $1,000,000, for which we will issue our 6% demand promissory note in the principal amount of $100,000.  As of September 30, 2016, the note has not been issued.   On November 18, 2013, we entered into agreement pursuant to which we issued to Chu Li An and her BVI company, our sole director and chief executive officer, 180,000,000 shares of common stock, in consideration of the cancellation of debt due to Chu Li An in the amount of $180,000.   On November 30, 2013, the Company entered into an agreement to acquire all of the issued and outstanding stock of Jin Chih International, Ltd., a Taiwan corporation, from its sole owner Chu Li An for five million shares of the Companys common stock. On May 10, 2016, the shares were issued to Chu Li An.   As a result of the above transactions, we carry out the electronic products and general cargo trading and related consulting service business through our subsidiary named Jin Chih International, Ltd in Taiwan. We still plan to focus on providing greentech products outside of China in future. Even though the company has disposed China branches, the company's new management will continue to expand the current green energy and technology business in the United States and globally, at the same time to explore much other green and renewable energy such as solar, wind power, sea power by signing licensing agreement or joint venture with other research institutes.   Basis of presentation   The accompanying consolidated financial statements of AJ Greentech Holdings Ltd. (the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP).

Accounts Receivable and Allowance for Doubtful Accounts   Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. The Company follows paragraph 310-10-50-9 of the FASB Accounting Standards Codification to estimate the allowance for doubtful accounts. The Company performs on-going credit evaluations of its customers and adjusts credit limits based upon payment history and the customers current credit worthiness, as determined by the review of their current credit information; and determines the allowance for doubtful accounts based on historical write-off experience, customer specific facts and economic conditions.   Outstanding account balances are reviewed individually for collectability. The allowance for doubtful accounts is the Companys best estimate of the amount of probable credit losses in the Companys existing accounts receivable. Bad debt expense is included in general and administrative expenses, if any. Pursuant to paragraph 310-10-50-2 of the FASB Accounting Standards Codification account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company has adopted paragraph 310-10-50-6 of the FASB Accounting Standards Codification and determine when receivables are past due or delinquent based on how recently payments have been received.

Inventories   The Company values inventories, consisting of raw materials, packaging material and finished goods, at the lower of cost or market. Cost is determined on the first-in and first-out (FIFO) method for raw materials and packaging materials and the weighted average cost method for finished goods. Cost of finished goods comprises direct labor, direct materials, direct production cost and an allocated portion of production overhead. The Company reduces inventories for the diminution of value, resulting from product obsolescence, damage or other issues affecting marketability, equal to the difference between the cost of the inventory and its estimated market value. Factors utilized in the determination of estimated market value include (i) current sales data and historical return rates, (ii) estimates of future demand, (iii) competitive pricing pressures, (iv)new product introductions, (v) product expiration dates, and (vi) component and packaging obsolescence.   The Company evaluates its current level of inventories considering historical sales and other factors and, based on this evaluation, classify inventory markdowns in the income statement as a component of cost of goods sold pursuant to Paragraph 420-10-S99 of the FASB Accounting Standards Codification to adjust inventories to net realizable value. These markdowns are estimates, which could vary significantly from actual requirements if future economic conditions, customer demand or competition differ from expectations. Other significant estimates include the allocation of variable and fixed production overheads. While variable production overheads are allocated to each unit of production on the basis of actual use of production facilities, the allocation of fixed production overhead to the costs of conversion is based on the normal capacity of the Companys production facilities, and recognizes abnormal idle facility expenses as current period charges. Certain costs, including categories of indirect materials, indirect labor and other indirect manufacturing costs which are included in the overhead pools are estimated. The management of the Company determines its normal capacity based upon the amount of operating hours of the manufacturing machinery and equipment in a reporting period.

Recently Issued Accounting Pronouncements   In August 2014, the FASB issued the FASB Accounting Standards Update No. 2014-15 Presentation of Financial StatementsGoing Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entitys Ability to Continue as a Going Concern (ASU 2014-15).   In connection with preparing financial statements for each annual and interim reporting period, an entitys management should evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entitys ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable). Managements evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued (or at the date that the financial statements are available to be issued when applicable). Substantial doubt about an entitys ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or available to be issued). The term probable is used consistently with its use in Topic 450, Contingencies.   When management identifies conditions or events that raise substantial doubt about an entitys ability to continue as a going concern, management should consider whether its plans that are intended to mitigate those relevant conditions or events will alleviate the substantial doubt. The mitigating effect of managements plans should be considered only to the extent that (1) it is probable that the plans will be effectively implemented and, if so, (2) it is probable that the plans will mitigate the conditions or events that raise substantial doubt about the entitys ability to continue as a going concern.   If conditions or events raise substantial doubt about an entitys ability to continue as a going concern, but the substantial doubt is alleviated as a result of consideration of managements plans, the entity should disclose information that enables users of the financial statements to understand all of the following (or refer to similar information disclosed elsewhere in the footnotes): <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Principal conditions or events that raised substantial doubt about the entitys ability to continue as a going concern (before consideration of managements plans)</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">c.</td><td style="text-align: justify">Managements plans that alleviated substantial doubt about the entitys ability to continue as a going concern.</td></tr></table>   If conditions or events raise substantial doubt about an entitys ability to continue as a going concern, and substantial doubt is not alleviated after consideration of managements plans, an entity should include a statement in the footnotes indicating that there is substantial doubt about the entitys ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued). Additionally, the entity should disclose information that enables users of the financial statements to understand all of the following:   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">a.</td><td style="text-align: justify">Principal conditions or events that raise substantial doubt about the entitys ability to continue as a going concern</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">b.</td><td style="text-align: justify">Managements evaluation of the significance of those conditions or events in relation to the entitys ability to meet its obligations</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">c.</td><td style="text-align: justify">Managements plans that are intended to mitigate the conditions or events that raise substantial doubt about the entitys ability to continue as a going concern.</td></tr></table>   The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.   Management does not believe that any recently issued, but not yet effective accounting pronouncements, when adopted, will have a material effect on the accompanying financial statements.

Note 3 Going Concern   There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support the Companys working capital requirements. To the extent that funds generated from any private placements, public offering and/or bank financing are insufficient to support the Companys working capital requirements, the Company will have to raise additional working capital from additional financing. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may not be able continue its operations.   These conditions raise substantial doubt about the Companys ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Note 5 Short term investment   For the year ended December 31, 2015, the Company sold out 200,000 shares per $10TWD of GaoPing XiNeng electric power Co., Ltd and 47,000 shares per $10.036TWD issued by YangXin commercial bank Co., Ltd.   For the period ended September 30, 2016, the Company sold out 100,000 shares per $10TWD of GaoPing XiNeng electric power Co., Ltd.

5053

Note 8  Borrowing   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">September 30, 2016</td> <td style="vertical-align: bottom; width: 27%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 17%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr> <td style="vertical-align: bottom; text-align: left"> </td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center">(Unaudited)</td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">41,007</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">31,114</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Long term debt -the term less than 1 year </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">43,615</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">105,628</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">101,057</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.49%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">51,059</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">34,194</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">5.18%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$        407,674</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left"> </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">December 31, 2015</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 19%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; text-align: right">$           91,200</td> <td style="vertical-align: top; text-align: center">Jul. 30, 2015 to Jan. 30, 2016</td> <td style="vertical-align: top; text-align: center">5.25%</td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; text-align: right">91,200</td> <td style="vertical-align: top; text-align: center">Aug. 4, 2015 to Feb. 4, 2016</td> <td style="vertical-align: top; text-align: center">5.25%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">69,160</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">29,566</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Long term debt -the term less than 1 year </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">41,654</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">101,019</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">39,829</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">5.30%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">48,640</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$        512,268</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   The long term debt should be repaid as equal principal by month. The long term debt -the term less than 1 year represented the amount should be repaid within 1 year.

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">September 30, 2016</td> <td style="vertical-align: bottom; width: 27%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 17%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr> <td style="vertical-align: bottom; text-align: left"> </td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center">(Unaudited)</td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">41,007</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">31,114</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Long term debt -the term less than 1 year </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">43,615</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">105,628</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">101,057</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.49%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">51,059</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">34,194</td> <td style="vertical-align: top; text-align: center">Repaid before Sep. 30, 2017</td> <td style="vertical-align: top; text-align: center">5.18%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$        407,674</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left"> </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">December 31, 2015</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 19%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; text-align: right">$           91,200</td> <td style="vertical-align: top; text-align: center">Jul. 30, 2015 to Jan. 30, 2016</td> <td style="vertical-align: top; text-align: center">5.25%</td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; text-align: right">91,200</td> <td style="vertical-align: top; text-align: center">Aug. 4, 2015 to Feb. 4, 2016</td> <td style="vertical-align: top; text-align: center">5.25%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">69,160</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">GuoTai ShiHua bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">29,566</td> <td style="vertical-align: top; text-align: center">Nov. 18, 2015 to Nov. 18, 2016</td> <td style="vertical-align: top; text-align: center">5.28%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Long term debt -the term less than 1 year </td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">41,654</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">101,019</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">39,829</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">5.30%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">48,640</td> <td style="vertical-align: top; text-align: center">Repaid before Dec. 31, 2016</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$        512,268</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>

2015-06-10

2015-01-21

2015-09-25

2016-01-30

2015-11-18

2015-07-30

2015-08-04

2016-08-05

2017-09-30

2016-12-31

2017-09-30

2016-12-31

2017-09-30

2016-12-31

2017-09-30

2016-12-31

2018-06-10

2018-01-21

2020-09-25

2021-01-30

2016-11-18

2016-01-30

2016-02-04

2019-08-05

0.0369

0.0417

0.0373

0.0518

0.0349

0.0530

0.0369

0.0417

0.0373

0.0518

0.0528

0.0525

0.0349

NOTE 10 LONG TERM DEBT   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 39%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">September 30, 2016</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 18%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr> <td style="vertical-align: bottom; text-align: left"> </td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center">(Unaudited)</td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; text-align: right">$        36,462</td> <td style="vertical-align: top; text-align: center">Jun. 10, 2015 to Jun. 10, 2018</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; text-align: right">40,569</td> <td style="vertical-align: top; text-align: center">Jan. 21, 2015 to Jan. 21, 2018</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">153,178</td> <td style="vertical-align: top; text-align: center">Sep. 25, 2015 to Sep. 25, 2020</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">134,482</td> <td style="vertical-align: top; text-align: center">Jan. 30, 2016 to Jan. 30, 2021</td> <td style="vertical-align: top; text-align: center">5.18%</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin Commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">209,642</td> <td style="vertical-align: top; text-align: center">Aug. 5, 2016 to Aug. 5, 2019</td> <td style="vertical-align: top; text-align: center">3.49%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$         574,333</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 19%; padding-bottom: 1pt; text-align: center">December 31, 2015</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 18%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; text-align: right">$          65,635</td> <td style="vertical-align: top; text-align: center">Jun. 10, 2015 to Jun. 10, 2018</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; text-align: right">113,718</td> <td style="vertical-align: top; text-align: center">Jan. 21, 2015 to Jan. 21, 2018</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">182,400</td> <td style="vertical-align: top; text-align: center">Sep. 25, 2015 to Sep. 25, 2020</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$         361,752</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   The long term debt should be repaid as equal principal by month. The long term debt -the term less than 1 year represented the amount should be repaid within 1 year.

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><tr><td style="vertical-align: bottom; width: 39%; text-align: left"> </td> <td style="vertical-align: bottom; width: 18%; padding-bottom: 1pt; text-align: center">September 30, 2016</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 18%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr> <td style="vertical-align: bottom; text-align: left"> </td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center">(Unaudited)</td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td> <td style="vertical-align: bottom; font-size: 10.5pt; text-align: center"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; text-align: right">$        36,462</td> <td style="vertical-align: top; text-align: center">Jun. 10, 2015 to Jun. 10, 2018</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; text-align: right">40,569</td> <td style="vertical-align: top; text-align: center">Jan. 21, 2015 to Jan. 21, 2018</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">153,178</td> <td style="vertical-align: top; text-align: center">Sep. 25, 2015 to Sep. 25, 2020</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Number one commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">134,482</td> <td style="vertical-align: top; text-align: center">Jan. 30, 2016 to Jan. 30, 2021</td> <td style="vertical-align: top; text-align: center">5.18%</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">YangXin Commercial bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">209,642</td> <td style="vertical-align: top; text-align: center">Aug. 5, 2016 to Aug. 5, 2019</td> <td style="vertical-align: top; text-align: center">3.49%</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$         574,333</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; width: 38%; text-align: left"> </td> <td style="vertical-align: bottom; width: 19%; padding-bottom: 1pt; text-align: center">December 31, 2015</td> <td style="vertical-align: bottom; width: 25%; font-size: 10.5pt; text-align: center">Term</td> <td style="vertical-align: bottom; width: 18%; font-size: 10.5pt; text-align: center">Int. Rate/Year</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; text-align: left">Ban Xin commercial bank</td> <td style="vertical-align: top; text-align: right">$          65,635</td> <td style="vertical-align: top; text-align: center">Jun. 10, 2015 to Jun. 10, 2018</td> <td style="vertical-align: top; text-align: center">3.69%</td></tr> <tr style="background-color: white"> <td style="vertical-align: bottom; text-align: left">YangXin commercial bank</td> <td style="vertical-align: top; text-align: right">113,718</td> <td style="vertical-align: top; text-align: center">Jan. 21, 2015 to Jan. 21, 2018</td> <td style="vertical-align: top; text-align: center">4.17%</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">TaiWan medium-sized and small enterprises bank</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">182,400</td> <td style="vertical-align: top; text-align: center">Sep. 25, 2015 to Sep. 25, 2020</td> <td style="vertical-align: top; text-align: center">3.73%</td></tr> <tr> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: left">Total</td> <td style="vertical-align: top; padding-bottom: 2.5pt; text-align: right">$         361,752</td> <td style="vertical-align: top; text-align: center"> </td> <td style="vertical-align: top; text-align: center"> </td></tr> </table>

NOTE 13 COMMON STOCK   On April 7, 2014, the shareholder, Chu Li An contributed $165,500 capital to the Company.   On June 30, 2015, the Company made a reverse split of its common stock at the rate of 1 for 1500.   On July 10, 2015, the Company issued 50,000,000 shares with a par value of $0.001 per share for cash. The cash was finally offset with debt cancel due to shareholder.   On July 10, 2015, the Company issued 800,000 shares with a par value of $0.01 per share in exchange for consulting services of $8,000.   On August 6, 2015, the Company issued 5,000,000 shares with a par value of $0.001 per share and 2,500,000 shares with a par value of $0.01 per share for cash. The cash was finally offset with debt cancel due to shareholder.   On April 4, 2016, the Company issued 5,000 shares to two investors with a par value of $4.00 per share for cash.   On May 10, 2016, the Company issued 2,000 shares to an investor with a par value of $4.00 per share for cash.   On May 10, 2016, the Company issued 3,000 shares to an investor with a par value of $5.00 per share for cash.   On May 10, 2016, the Company issued 21,000 shares to an investor with a par value of $4.7619 per share for cash.   On May 10, 2016, the Company issued 3,333 shares to the shareholder Chu Li An for the acquisition of Jin Chih International, Ltd., a Taiwan corporation on November 30, 2013.   On July 12, 2016, the Company issued 1,600 shares to six investors with a par value of $10.00 per share for Cash.   On July 12, 2016, the Company issued 700 shares to an investor with a par value of $10.2857 per share for Cash.   On July 12, 2016, the Company issued 500,000 shares with a par value of $0.01 per share in exchange for consulting services of $5,000.   On July 12, 2016, the Company issued 1,250 shares to an investor with a par value of $2.4 per share for Cash.   On Aug 7, 2016, the Company issued 200 shares to an investor with a par value of $14 per share for Cash.   On Aug 7, 2016, the Company issued 2,000 shares with a par value of $0.01 per share in exchange for consulting services of $20.   On Sep 6, 2016, the Company issued 2,400 shares to an investor with a par value of $14 per share for Cash.   The Companys capitalization is 394,500,000 common shares with a par value of $0.001 per share. There are a total of 58,985,537 and 58,443,054 common shares issued and outstanding at September 30, 2016 and December 31, 2015. No preferred shares have been authorized or issued.

165500

0.17

NOTE 16 SUBSEQUENT EVENTS   The Company has performed an evaluation of subsequent events in accordance with ASC Topic 855 and the Company is not aware of any other subsequent events which would require recognition or disclosure in the financial statements.

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NOTE 15 - COMMITMENT AND CONTINGENCIES   The Company had bank loans. Based on the contract agreement, the future minimum repayments required for the coming years are as follows:   <table cellspacing="0" cellpadding="0" align="center" style="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; text-align: justify; width: 76%">Periods ending September 30:</td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 3%"> </td> <td style="vertical-align: top; text-align: center; width: 21%"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">2017</td> <td style="vertical-align: bottom; text-align: right">$</td> <td style="vertical-align: top; text-align: right">407,674</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">2018</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">263,340</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">2019</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">186,312</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">2020</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">92,782</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">Remaining payments</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">31,899</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: justify">Total</td> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: right">982,007</td></tr> </table>   The Company did not have other significant capital commitments or significant guarantees as of September 30, 2016, respectively.

<table cellspacing="0" cellpadding="0" align="center" style="width: 60%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: bottom; text-align: justify; width: 76%">Periods ending September 30:</td> <td style="vertical-align: bottom; padding-bottom: 1pt; text-align: center; width: 3%"> </td> <td style="vertical-align: top; text-align: center; width: 21%"> </td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">2017</td> <td style="vertical-align: bottom; text-align: right">$</td> <td style="vertical-align: top; text-align: right">407,674</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">2018</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">263,340</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">2019</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">186,312</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">2020</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">92,782</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; text-align: justify">Remaining payments</td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: top; text-align: right">31,899</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: justify">Total</td> <td style="vertical-align: bottom; padding-bottom: 2.5pt; text-align: right"> </td> <td style="vertical-align: top; text-align: right">982,007</td></tr> </table>

23694

-414

1502

41407

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; width: 44%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 25%">The nine months ended September 30, 2016</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 22%">The year ended December 31, 2015</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center">(Unaudited)</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current provision</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">  </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">41,407</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred provision (benefit)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">  </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">  </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left">$</td><td style="font-weight: bold; text-align: right">41,407</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

1:1500

8000 5000 20

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Components of income tax (benefit) expense (Details) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - TAXES PAYABLE AND INCOME TAXES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - COMMON STOCK (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - COMMITMENTS AND CONTINGENCIES - Future minimum repayments required on bank loans (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 ajgh-20160930_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 ajgh-20160930_def.xml XBRL DEFINITION FILE EX-101.LAB 10 ajgh-20160930_lab.xml XBRL LABEL FILE AJ Greentech & Subsidiaries Balance Sheet Location [Axis] AJ Greentech & Subsidiaries Income Statement Location [Axis] Common Stock Equity Components [Axis] Additional Paid-In Capital Retained Earnings Foreign Currency Translation Gain Acquired from former director Related Party Transaction [Axis] Acquired from Chairman Average Rate for three months ended Currency [Axis] Spun Off Subsidiaries As reported Adjustments As restated Retained Earnings (Deficit) GaoPing XiNeng electric power Co., Ltd Other Investment Not Readily Marketable [Axis] YangXin commercial bank Co. Ltd. Ban Xin commercial bank Debt Instrument [Axis] YangXin commercial bank (1) TaiWan medium-sized and small enterprises bank Number one commercial bank YangXin commercial bank (2) Total Number one commercial bank Long-term Debt, Type [Axis] Ban Xin commercial bank YangXin commercial bank TaiWan medium-sized and small enterprises bank TaiWan medium-sized and small enterprises bank Number one commercial bank Total Borrowing 6 TaiWan medium-sized and small enterprises bank Issued for debt cancel (1) Class of Stock [Axis] Issued in exchange for consulting services (1) Issued for debt cancel (2) GuoTai ShiHua bank (1) GuoTai ShiHua bank (2) Long term debt - the term less than 1 year Number one commercial bank (1) Number one commercial bank (2) Issued to two investors for cash (1) Issued to an investor for cash (2) Issued to an investor for cash (3) Issued to an investor for cash (4) Issued to shareholder for acquisition of Jin Chih International, Ltd. YangXin commercial bank (2) Issued to an investor for cash (5) Issued in exchange for consulting services (2) Issued to an investor for cash (6) Issued to an investor for cash (7) Issued in exchange for consulting services (3) Issued to an investor for cash (8) Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS CURRENT ASSETS: Cash Accounts receivable Inventories Short-term investments Prepayments and other current assets Total Current Assets PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment Accumulated depreciation Property, plant, and equipment, net OTHER ASSETS Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Borrowings Accounts payable Advances from customers Advances from related parties Taxes payable Accrued expenses and other current liabilities Total Current Liabilities Long Term Debt Total Liabilities COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Common stock ($0.001 par value; 394,500,000 shares authorized; 58,477,387 and 58,985,537 shares issued and outstanding at June 30, 2016 and December 31, 2015) Additional paid- in capital Retained earnings (Deficit) Foreign currency translation gain (loss) Total Stockholders' Equity Total Liabilities and Stockholders' Equity Statement [Table] Statement [Line Items] Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] NET REVENUES COST OF REVENUES GROSS PROFIT OPERATING EXPENSES: Selling and general and administrative expenses Total operating expenses Income from interest Interest Expense Other Income (expenses) INCOME (LOSS) BEFORE INCOME TAXES INCOME TAX PROVISION NET INCOME (LOSS) OTHER COMPREHENSIVE INCOME: Foreign currency translation gain (loss) COMPREHENSIVE INCOME NET INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED: Net loss per common share - basic and diluted Weighted Average Common Shares Outstanding - basic and diluted Statement of Cash Flows [Abstract] Operating Activities, Cash Flows Provided By or Used In Net income (Loss) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation Loss on sale of PPE Changes in operating assets and liabilities: Accounts Receivables Inventories Prepayments Other Current Assets Accrued Expenses and Other Current Liabilities Accounts Payables Tax Payables Advances Total Cash Flow Provided by (Used in) Operating Activities Investing Activities, Cash Flows Provided By or Used In Short term investment Disposal of PPE Other assets Total Cash Flows Provided by (Used in) Investing Activities Financing Activities, Cash Flows Provided By or Used In Issuance of common stock Advances from (repayment made to) related parties Capital contribution Long term debt increased (repayment) Short term debt increased (repayment) Total Cash Flows Used in Financing Activities Effect Of Exchange Rate Changes Change In Cash and Cash Equivalents Cash at beginning of the period Cash at end of the period SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION Interest paid Income tax paid Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization and Basis of presentation Accounting Policies [Abstract] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Going Concern Receivables [Abstract] Accounts Receivable Cash and Cash Equivalents [Abstract] Short term investment Property, Plant and Equipment [Abstract] Property, Plant and Equipment Prepayments and other current assets Debt Disclosure [Abstract] Borrowing Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS LONG TERM DEBT Income Tax Disclosure [Abstract] TAXES PAYABLE AND INCOME TAXES Equity [Abstract] COMMON STOCK Foreign Currency [Abstract] FOREIGN OPERATIONS Commitments and Contingencies Disclosure [Abstract] COMMITMENT AND CONTINGENCIES EX-101.PRE 11 ajgh-20160930_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2016 shares
Document And Entity Information
Entity Registrant Name	AJ GREENTECH HOLDINGS.
Entity Central Index Key	0001394108
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	58,985,537
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2016

XML 13 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash	$ 202,539	$ 291,832
Accounts receivable	1,357,798	1,233,130
Inventories
Short-term investments	415,759	426,348
Prepayments and other current assets	77,793	1,016
Total Current Assets	2,053,889	1,952,326
PROPERTY, PLANT, AND EQUIPMENT
Property, plant, and equipment
Accumulated depreciation
Property, plant, and equipment, net
OTHER ASSETS	50,878	5,288
Total Assets	2,104,767	1,957,614
CURRENT LIABILITIES:
Borrowings	407,674	512,268
Accounts payable	248,081	350,634
Advances from customers
Advances from related parties	84,837	84,837
Taxes payable	(414)	25,196
Accrued expenses and other current liabilities		54,657
Total Current Liabilities	740,178	1,027,592
Long Term Debt	574,333	361,752
Total Liabilities	1,314,511	1,389,344
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock ($0.001 par value; 394,500,000 shares authorized; 58,477,387 and 58,985,537 shares issued and outstanding at June 30, 2016 and December 31, 2015)	58,985	58,443
Additional paid- in capital	590,663	380,485
Retained earnings (Deficit)	(672,257)	(646,232)
Foreign currency translation gain (loss)	812,865	775,574
Total Stockholders' Equity	790,256	568,270
Total Liabilities and Stockholders' Equity	$ 2,104,767	$ 1,957,614

XML 14 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	394,500,000	394,500,000
Common stock, shares issued	58,985,537	58,443,054
Common stock, shares outstanding	58,985,537	58,443,054
AJ Greentech & Subsidiaries
Common stock, par value	$ .001	$ .001
Common stock, shares authorized	394,500,000	394,500,000
Common stock, shares issued	58,985,537	58,443,054
Common stock, shares outstanding	58,985,537	58,443,054

XML 15 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
NET REVENUES	$ 347,504	$ 539,306	$ 1,449,627	$ 2,454,064
COST OF REVENUES	286,718	449,869	1,193,502	2,046,982
GROSS PROFIT	60,786	89,437	256,125	407,082
OPERATING EXPENSES:
Selling and general and administrative expenses	80,302	481,806	258,968	558,201
Total operating expenses	80,302	481,806	258,968	558,201
Income from interest	19	143	64	199
Interest Expense	7,732	3,900	23,246	29,049
Other Income (expenses)		(118,994)		(119,188)
INCOME (LOSS) BEFORE INCOME TAXES	(27,229)	(515,120)	(26,025)	(299,157)
INCOME TAX PROVISION		(10,935)		25,779
NET INCOME (LOSS)	(27,229)	(504,185)	(26,025)	(324,936)
OTHER COMPREHENSIVE INCOME:
Foreign currency translation gain (loss)	22,767	(51,449)	37,291	(31,466)
COMPREHENSIVE INCOME	$ (4,462)	$ (555,634)	$ 11,266	$ (356,402)
NET INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED:
Net loss per common share - basic and diluted	$ 0.00	$ (0.01)	$ 0.00	$ (0.01)
Weighted Average Common Shares Outstanding - basic and diluted	58,627,456	58,443,054	58,611,892	49,905,011

XML 16 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities, Cash Flows Provided By or Used In
Net income (Loss)	$ (26,025)	$ (324,936)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		5,053
Loss on sale of PPE		115,682
Changes in operating assets and liabilities:
Accounts Receivables	(124,668)	(587,348)
Inventories		2,069
Prepayments Other Current Assets	(76,777)	(493)
Accrued Expenses and Other Current Liabilities	(54,657)	(1,906)
Accounts Payables	(102,553)	947,293
Tax Payables	(25,610)	9,785
Advances		(78,943)
Total Cash Flow Provided by (Used in) Operating Activities	(410,290)	86,256
Investing Activities, Cash Flows Provided By or Used In
Short term investment	10,589	78,950
Disposal of PPE		952,392
Other assets	(45,590)
Total Cash Flows Provided by (Used in) Investing Activities	(35,001)	1,031,342
Financing Activities, Cash Flows Provided By or Used In
Issuance of common stock	210,720	80,800
Advances from (repayment made to) related parties		(1,072,082)
Capital contribution
Long term debt increased (repayment)	212,581	(368,551)
Short term debt increased (repayment)	(104,594)	288,308
Total Cash Flows Used in Financing Activities	318,707	(1,071,525)
Effect Of Exchange Rate Changes	37,291	(36,328)
Change In Cash and Cash Equivalents	(89,293)	9,745
Cash at beginning of the period	291,832	198,906
Cash at end of the period	202,539	208,651
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Interest paid	23,246	28,850
Income tax paid		$ 9,745

XML 17 R6.htm IDEA: XBRL DOCUMENT

Organization and Operations

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of presentation

Note 1 – Organization and Basis of presentation

Organization

Basis of presentation

XML 18 R7.htm IDEA: XBRL DOCUMENT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

Segment Information

Accounts Receivable and Allowance for Doubtful Accounts

Inventories

Revenue Recognition

Fair Value of Financial Instruments

Impairment of Long-Lived Assets

The assumptions used by management in determining the future cash flows are critical. In the event these expected cash flows are not realized, future impairment losses may be recorded.

Income Taxes

Net Income (Loss) per Share

Translation Adjustment

Average Rate for the nine months ended on:	September 30, 2016	September 30, 2015
Taiwan dollar (TWD)	1	1
United States dollar ($)	0.0309	0.0312

Exchange Rate at	September 30, 2016	December 31, 2015
Taiwan dollar (TWD)	1	1
United States dollar ($)	0.0319	0.0304