0001554795-18-000179.txt : 20180706 0001554795-18-000179.hdr.sgml : 20180706 20180706135315 ACCESSION NUMBER: 0001554795-18-000179 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20171231 FILED AS OF DATE: 20180706 DATE AS OF CHANGE: 20180706 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sino United Worldwide Consolidated Ltd. CENTRAL INDEX KEY: 0001394108 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 472148252 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53737 FILM NUMBER: 18942290 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: AJ GREENTECH HOLDINGS. DATE OF NAME CHANGE: 20140709 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-K 1 suic0620form10k.htm FORM 10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

☑

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

For the fiscal year ended December 31, 2017

☐

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

For transition period ___ to ____

Commission file number: 000-53737

SINO UNITED WORLDWIDE CONSOLIDATED LTD.

(Name of registrant in its charter)

Nevada	47-2148252
(State or jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

136-20 38th Ave. Unit 3G,

Flushing, NY 11354

(Address of principal executive offices)

(718) 395-8706

(Registrant's telephone number)

SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF

THE EXCHANGE ACT:

None.

SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF

THE EXCHANGE ACT:

None.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐ No☑

Check whether the issuer is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes☐ No☑

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter periods that the registrant 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☐

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-K contained in this form, and no disclosure will be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☐

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

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☑

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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

The aggregate market value of the voting and non-voting common equity held by non-affiliates (based upon the closing price of such shares as reported on the OTC Bulletin Board as of the last business day of the registrant’s most recently completed second fiscal quarter was approximately $55,666,758 (3,736,024 shares, $14.90 per share).

At June 15, 2018, there were 33,503,604 shares of the registrant’s common stock issued and outstanding.

	PART I
Item 1.	Business	3
Item 1A	Risk Factors	4
Item 1B.	Unresolved Staff Comments	4
Item 2.	Properties	4
Item 3.	Legal Proceedings	4
Item 4.	Mine and Safety Disclosures	4
	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	5
Item 6.	Selected Financial Data	6
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	6
Item7A.	Quantitative and Qualitative Disclosures About Market Risk	11
Item 8.	Financial Statements and Supplementary Financial Data	11
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	11
Item 9A	Controls and Procedures	11
Item 9B.	Other Information.	12
	PART III
Item 10.	Directors, Executive Officers and Corporate Governance	13
Item 11.	Executive Compensation	14
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	16
Item 13.	Certain Relationships and Related Party Transactions, and director independence	17
Item 14.	Principal Accountant Fees and Services	17
	PART IV
Item 15.	Exhibits, Financial Statements Schedules	18
	SIGNATURES	18

Forward-Looking Statements

Statements contained in this Annual Report include “forward-looking statements” within the meaning of such term in Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Forward-looking statements made in this Report generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as “may,” “will,” “could,” “should,” “project,” “expect,” “believe,” “estimate,” “anticipate,” “intend,” “continue,” “potential,” “opportunity” or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors as:

	•	our heavy reliance on limited number of consumers;
	•	Strong competition in our industry;
	•	increases in our raw material costs; and
	•	an inability to fund our capital requirements.

Additional disclosures regarding factors that could cause our results and performance to differ from results or performance anticipated by this annual report are discussed in Item 1A. “Risk Factors.” Readers are urged to carefully review and consider the various disclosures made by us in this annual report and our other filings with the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this annual report speak only as of the date hereof and we disclaim any obligation to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

PART I

ITEM 1.

BUSINESS

We are 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. On February 13, 2014, our corporate name was changed to AJ Greentech Holdings, Ltd. and on July 17, 2017, our corporate name was changed to Sino United Worldwide Consolidated Ltd.

From November 2009 until October, 2013, through our China subsidiaries, 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.

From October 2013 until September, 2017, through our Taiwan subsidiary, we were engaged in design, marketing and distributing of hardware and software technologies, including new cell phone apps, as well as solutions and technology in fleet management, the driving record management system (DMS) that provide total solution and management mechanism for vehicles and driver behavior control and analysis, which increase driving safety and efficiency.

On September 30, 2017, pursuant to agreements with one of the Company’s directors, Li-An Chu, the Company transferred the 100% ownership in its wholly owned Taiwan Subsidiary, Jinchih International Limited (“Jinchih”), to Li-An Chu in exchange for cancellation of debt of $379,254 and cancellation of total 25,503,333 shares of the Company’s common stock owned by a group of stockholders, including Li-An Chu. As a result of these transactions, Jinchih is no longer a wholly owned subsidiary of the Company as of September 30, 2017, and we were no longer engaged in the DMS technology business. We transferred the stock of Jinchih because we felt that, it not our best interest to continue DMS technology business as a result of our decreasing revenue, continued losses and inability to raise capital for our business.

The results of operations of Jinchih for the nine months ended September 30, 2017 and for the year ended December 31, 2016 were included in the loss from discontinued operation in the statements of comprehensive loss.

The Company, led by Chairman Tee-Keat Ong, is developing new businesses in various fields through careful review and critical selection of new growth businesses as part of his strategic agendas. We are going to accelerate our product strategy by integrating technology, sales and solution marketing to ensure sustainable competitive advantage.

We are going to strengthen our core competencies in high technology and blockchain related businesses, such as the revolutionary sound wave technology with industrial applications, blockchain technology, fintech services, professional consultancy for ICO’s, blockchain educational programs, venture capital in ICO, crypto exchange, AI and other high potential critical blockchain projects.

On October 1, 2017, the Chairmen of the Board of Directors, Mr. Tee-Keat Ong and the Company entered into a loan agreement pursuant to which Mr. Tee-Keat Ong agreed to lend the Company $30,000 initially with future loan amount up to $1,000,000, for which we issued a five percent (5%) demand promissory note in the principal amount of $30,000.

On October 1, 2017, The Company entered into a loan agreement for $65,000, which include the loan already made to the Company, with future loan amount up to $1,000,000, for which we issued a five percent (5%) demand promissory note in the principal amount of $65,000.

Employees

The Company currently has no full-time employees.

ITEM 1A.

RISK FACTORS

Not applicable for smaller reporting companies.

ITEM 1B.

UNRESOLVED STAFF COMMENTS

Not applicable for smaller reporting companies.

ITEM 2.

PROPERTIES

Our Company has rented offices which is located at 136-20 38th Ave. Unit 3G Flushing, NY 11314, USA. Telephone no. is 718-395-8706. From January 1 to September 30, 2017, there was a Taipei subsidiary located at 21F-1, No76, Sec. 2, Dunhua S. Road, Da’an District, Taipei Taiwan. Our company website is http://www.sinounitedltd.com.

ITEM 3.

LEGAL PROCEEDINGS

None.

ITEM 4.

MINE AND SAFETY DISCLOSURES

Not Applicable.

PART II

ITEM 5.

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

Market for Our Common Stock

The following table sets forth, for the periods indicated, the high and low closing prices of our common stock. These prices reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not represent actual transactions.

		Closing Prices (1)
		High		Low
*Year Ended December 31, 2017*
1st Quarter	$	16.00	$	15.99
2nd Quarter	$	15.99	$	14.90
3rd Quarter	$	14.90	$	3.50
4th Quarter	$	12.10	$	12.10

*Year Ended December 31, 2016*
1st Quarter	$	11.25	$	11.25
2nd Quarter	$	17.00	$	17.00
3rd Quarter	$	14.00	$	14.00
4th Quarter	$	13.00	$	13.00

(1)	The above tables set forth the range of high and low closing prices per share of our common stock as reported by OTC Bulletin Board and the Pink Sheets, as applicable, for the periods indicated.

Approximate Number of Holders of Our Common Stock

On December 31, 2017, there were approximately 60 stockholders of record of our common stock.

Dividend Policy

The Company has not declared or paid cash dividends or made distributions in the past, and we do not anticipate that we will pay cash dividends or make distributions in the foreseeable future. We currently intend to retain and reinvest future earnings, if any, to finance our operations.

Recent Sales of Unregistered Securities

On October 5, 2017, we issued 21,000 shares of common stock to two investors at a purchase price of $5.00 per share, for a total of $105,000. The funds were used to provide us with funds for working capital purposes. The sale of the shares was exempt from registration pursuant to Regulation S of the SEC. We did not engage any broker or investment banker and we did not pay any brokers, finders’ or placement fee in connection with the sale.

Repurchase of Equity Securities.

The Company retired 25,503,333 shares of common stock as follows in connection with the transfer of 100% ownership in Jinchih:

10,003,333 shares under the name of Chu Li-An

5,000,000 shares under the name of Tao Pao-Ju

5,000,000 shares under the name of Huang Wen-Ling

5,000,000 shares under the name of Lei Yu-Jen

500,000 shares under the name of Kuan-Yin Lee

Securities Authorized for Issuance under Equity Compensation Plans

We currently do not have any equity compensation plans.

ITEM 6.

SELECTED FINANCIAL DATA

Not applicable for smaller reporting companies.

ITEM 7.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

This Annual 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.

The Company is developing new businesses in various fields through careful review and critical selection of new growth businesses. The Company is planning to strengthen our core competencies in high technology and blockchain related businesses, such as blockchain dapps technology, fintech services, professional consultancy for ICO’s, and other high potential critical blockchain projects.

Results of Operations

Years ended December 31, 2017 and 2016

Revenue

The Company recognized $30,000 of revenue from continuing operation during the year ended December 31, 2017, as compared to $0 for the year ended December 31, 2016. As we discussed above, the Company sold off the wholly-owned subsidiary Jinchih on September 30, 2017, we presented the revenue for the year ended December 31, 2016 as revenue from discontinued operation on Consolidated Statements of Comprehensive Loss.

Our revenue from continuing operation were generated from the I.T. management consulting services.

General and Administrative Expenses:

General and administrative expenses from continuing operations were $185,449 and $209,347 for the years ended December 31, 2017 and 2016, respectively. The decrease was primarily due to decrease in salary expense and travel expense.

Interest expense

Interest expense from continuing operation was $96,188 for the year ended December 31, 2017 which included the interest on the convertible promissory notes issued for $1,188 and the amount of beneficial conversion feature for $95,000. There was no interest expense from continuing operation for the year ended December 31, 2016.

Loss from continuing operations

The Company generated loss from continuing operations of $251,637 and $209,347 for the years ended December 31, 2017 and 2016, respectively.

Loss from discontinued operations

The Company’s operating subsidiary in Taiwan was sold to one of the Company’s directors on September 30, 2017. Hence the Company has presented results of the Taiwan Subsidiary operations as a discontinued operation in the consolidated statements of comprehensive loss. During the years ended December 31, 2017 and 2016, loss from discontinued operation were $547,872 and $104,655 respectively.

Net loss

As a result of the foregoing, the Company generated net loss of $799,509 and $314,002 for the years ended December 31, 2017 and 2016, respectively.

Liquidity and Capital Resources

We have funded our operations to date primarily through operations, and related party loans and capital contributions. Due to our net loss and negative cash flow from operating activities, there is substantial doubt about the Company’s ability to continue as a going concern. The Company’s management recognizes that the Company must generate sales and obtain additional financial resources to continue to develop its operations

As of December 31, 2017, we had a working capital deficit of $78,508. Our current assets on December 31, 2017 were $65,044 primarily consisting of cash of $50,044, and account receivable of $15,000. Our current liabilities were primarily composed of credit card payable of $4,630, convertible promissory notes of $95,000 and accrued expenses and other current liabilities of $43,922.

Cash Flow from Operating Activities

Net cash used in operating activities was $22,994 during the year ended December 31, 2017, which consisted of our net loss from continuing operation of $251,637, offset by non-cash interest of $95,000, a change of accounts receivable of $15,000, a change of credit card payable of $4,630, a change of accrued expenses of $32,188 and net cash provided by discontinued operation of $111,825.

Net cash used in operating activities was $130,776 during the year ended December 31, 2016, which consisted of our net loss from continuing operation of $209,347, offset by a change of accounts payable of $18,000, a change of accrued expenses of $9,000 and net cash provided by discontinued operation of $51,571.

Cash Flow from Investing Activities

Net cash used in investing activities totaled $2,810 for the year ended December 31, 2017, all of which contributed by discontinued operation.

Net cash used in investing activities totaled $165,051 for the year ended December 31, 2016, which was primarily related to $22,732 received from short-term investment, offset by $9,435 paid for the acquisition of office equipment, and $178,348 paid for the acquisition of intangible assets, all of which contributed by discontinued operation.

Cash Flow from Financing Activities

Net cash provided by financing activities was $56,608 during the year ended December 31, 2017, which primarily consisted of proceeds from non-related party loan of $2,734, proceeds from convertible promissory note from related party of $30,000, proceeds from convertible promissory note from non-related party of $65,000, and proceeds from sales of the Company’s common stock of $105,000, offset by net cash used in discontinued operation of $146,126.

Net cash provided by financing activities was $383,913 during the year ended December 31, 2016, which primarily consisted of proceeds from sales of the Company’s common stock of $214,004 and net cash provided by discontinued operation of $169,909.

Off-Balance Sheet Arrangements

There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues, expenses, results of operations, liquidity, capital expenditures or capital resources.

Inflation

We do not believe our business and operations have been materially affected by inflation

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 3 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

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

Inventories consists of products purchased and are valued at the lower of cost or net realizable value. Cost is determined on the weighted average cost method. 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 net realizable value. Factors utilized in the determination of estimated net realizable 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.

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.

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.

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 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 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 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 3 in the accompanying consolidated financial statements.

Impact of Most Recent 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 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not required for smaller reporting companies.

ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY FINANCIAL DATA

Consolidated Financial Statements

The full text of our audited consolidated financial statements as of December 31, 2017 and 2016 begins on page F-1 of this Report.

ITEM 9.

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

The Company changed auditor on January 3, 2018. Please refer to 8-K dated January 9, 2018.

ITEM 9A.

CONTROLS AND PROCEDURES.

Evaluation of disclosure controls and procedures.

The Company maintains a set of disclosure controls and procedures designed to ensure that information required to be disclosed by the Company in the reports filed under the Securities Exchange Act, is recorded, processed, summarized and reported within the time periods specified by the SEC's rules and forms. Disclosure controls are also designed with the objective of ensuring that this information is accumulated and communicated to the Company's management, including the Company's chief executive officer and chief financial officer, as appropriate, to allow timely decisions regarding required disclosure.

During the course of internal evaluation, following control weaknesses are noted for the fiscal year ended December 31, 2017 that required correction:

•

no independent director exists in the Board of Directors, and the directors and accounting personnels have little understanding about U.S. GAAP and Sarbanes-Oxley Act 404 requirements in 2017.

Based upon their evaluation as of the end of the period covered by this annual report, the Company's chief executive officer and chief financial officer concluded that, due to the significant deficiencies in internal control over financial reporting described below, the Company's disclosure controls and procedures are not effective as of December 31, 2017.

Changes in internal controls.

The term “internal control over financial reporting” (defined in SEC Rule 13a-15(f)) refers to the process of a company that is designed 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. The Company’s management, with the participation of the Chief Executive Officer and Chief Financial Officer, has evaluated any changes in the Company’s internal control over financial reporting that occurred during the fourth quarter of the year covered by this annual report, and they have concluded that there was no change to the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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 December 31, 2017. Additionally, the Registrant’s management has concluded that the Registrant has a material weakness associated with its U.S. GAAP expertise.

This Annual 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.

ITEM 9B.

OTHER INFORMATION.

None.

PART III

ITEM 10.

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

The following table sets forth: (1) names and ages of all persons who presently are and who have been selected as directors and executive officers of the Registrant; (2) all positions and offices with the Registrant held by each such person; (3) any period during which he or she has served as such. All directors hold office until the next annual meeting of our shareholders and until their successors have been elected and qualify. Officers serve at the pleasure of the Board of Directors.

Name (1)	Age		Title
Chi-Shun Chang		55	Chief Executive Officer, Director
Chu-Li An		56	Director
Ong Tee Keat		61	Chairman
Yanru Zhou		24	Interim Chief Executive Officer and Chief Finance Officer

On July 17, 2017, the Board of Directors (the “Board”) of the Company appointed Mr. Ong Tee Keat as Chairman of the Board of Directors. Mr. Keat was a member of the Parliament of Malaysia until 2013, elected as the Deputy Speaker of House of Representatives, Malaysian Parliament from 1990 to 1999, elected as the Executive Council Member of the Commonwealth Parliamentary Association from 1990 to 1995, served as the Deputy Minister for Youth and Sports Ministry of Malaysia from 2000 to 2006, served as the Deputy Minister for Higher Education Ministry of Malaysia from 2006 to 2008, served as the Minister for Transport of Malaysia from 2008 to 2010, and the 8th president of the Malaysian Chinese Association (MCA).

He is educated at Confucian High School in Kuala Lumpur, Ong went on to the prestigious Methodist Boys' School for Form Six studies. Six years after graduating as a mechanical engineer, and while enjoying a lucrative post at an engineering firm, he quit to become political secretary to the then Housing and Local Government Minister Datuk Lee Kim Sai in 1986. Ong won several literary awards for his works was once a columnist for Chinese daily Sin Chew Jit Poh. His articles ran from 1979 to 1986.

On Oct 1, 2017, the Board appointed Chi-Shun Chang as Chief Executive Officer of the Company. Mr. Chang, 54, has served as president of Rock Computer Technology Company in NY since 1993. Mr. Chang received his Masters Degree in Electronics Engineering from the New York University Tandon School of Engineering (formerly the Polytechnic Institute of New York University). The agreement was terminated on February 28, 2018.

Ms. Chu, 56, served as chief executive officer of Jin Chih International Co., Ltd., a international trade company from September 2001 through present 2013. From September 2008 to September 2013, Ms. Chu served as e president of Wealthy Link Technology Corp. Ms. Chu received her undergradte degree in business from Ming Chuan College in 1982, and MBA degree in Business from Angelo State University in Texas in 1987.

On Feb 28, 2018, the Board appointed Yanru Zhou as interim Chief Executive Officer of the Company. Ms. Zhou, 24, received her undergraduate education in China

Nominating, Compensation and Audit Committees

The Board of Directors does not have an audit committee, a compensation committee or a nominating committee, due to the small size of the Board. The Board does also not have an “audit committee financial expert” within the definition given by the Regulations of the Securities and Exchange Commission.

Section 16(A) Beneficial Ownership Reporting Compliance

Under U.S. securities laws, directors, certain executive officers and persons holding more than 10% of our common stock must report their initial ownership of the stock, and any changes in that ownership, to the SEC.

Involvement in Certain Legal Proceedings

To the best of our knowledge, none of our directors or executive officers has been convicted in a criminal proceeding, excluding traffic violations or similar misdemeanors, or has been a party to any judicial or administrative proceeding during the past five years that resulted in a judgment, decree or final order enjoining the person from future violations of, or prohibiting activities subject to, federal or state securities laws (except where not subsequently dismissed without sanction or settlement), or from engaging in any type of business practice, or a finding of any violation of federal or state securities laws. To the best of our knowledge, no petition under the federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of any of our directors or officers, or any partnership in which any of our directors or officers was a general partner at or within two years before the time of such filing, or any corporation or business association of which any of our directors or officers was an executive officer at or within two years before the time of such filing. Except as set forth in our discussion below in “Certain Relationships and Related Transactions, and Director Independence,” none of our directors, director nominees or executive officers has been involved in any transactions with us or any of our directors, executive officers, affiliates or associates which are required to be disclosed pursuant to the rules and regulations of the SEC.

Code of Ethics

The Board of Directors has not adopted a code of ethics applicable to the Company’s executive officers. The Board believes that the small number of individuals involved in the Company’s management makes such a code unnecessary.

Board Attendance

During 2017, the board of directors did not hold any meetings. All actions were taken by actions in writing.

ITEM 11.

EXECUTIVE COMPENSATION

The following summary compensation table indicates the cash and non-cash compensation earned during the years ended December 31, 2017 and December 31, 2016 by each person who served as chief executive officer during the year ended December 31, 2017.

SUMMARY COMPENSATION TABLE

	Fiscal		Salary		Bonus		Stock Awards		All Other Compensation		Total
Name and Principal Position	Year		($)		($)		($)		($)		($)
Chu Li An, chief executive and		2017		22,500		0		0		0		22,500
financial officer (1)		2016		30,000		0		0		0		30,000
Chi-Shun Chang chief executive officer. (2)		2017		7,500		0		0		0		7,500
Ong Tee-Keat Chairman (3)		0		0		0		0		0		0

(1) Ms. Chu Li An has served as chief financial officer since October 2013 to September 30, 2017.

(2) Mr. Chang has served as chief executive officer since October 1, 2017.

(3) Mr. Ong has not received any compensation as of December 31, 2017.

Outstanding Equity Awards at Fiscal Year-End

The following table sets forth for each named executive officer certain information concerning the outstanding equity awards as of December 31, 2017.

Option awards

Stock awards

Name and Principal

Position

Number of

Securities

Underlying

Unexercised

Options

Exercisable

Number of

Securities

Underlying

Unexercised

Options

Unexercisable

Option

Exercise

Price ($)

Option

Expiration

Date

Number of

Shares or

Units of Stock

that Have Not

Vested

Market

Value of

Shares or

Units of

Stock that

Have Not

Vested

Equity

Incentive

Plan

Awards:

Number of

Unearned

Shares, Units

or Other

Rights that

Have Not

Vested

Equity

Incentive

Plan

Awards:

Market or

Payout

Value of

Unearned

Shares,

Units or

Other

Rights that

Have Not

Vested

Chi-Shun Chang

CEO

—

Remuneration of Directors

None of the members of the Board of Directors receives remuneration for service on the Board.

Executive Employment Contracts

We have employment agreements with CEO, Chih-Shun Chang on Oct. 1, 2017 for a term of five years, subject to automatic renewals of five years at the rate of $30,000 per year. The agreement was terminated on February 28, 2018.

Equity Compensation Plan Information

We do not have any compensation plan as of December 31, 2017.

ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

Security Ownership of Certain Beneficial Owners and Management

The following table summarizes certain information regarding the beneficial ownership (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) of outstanding Registrant Common Stock as of December 31, 2017 by (i) each person known by us to be the beneficial owner of more than 5% of the outstanding Common Stock, (ii) each of our directors, (iii) each of our named executive officers, and (iv) all executive officers and directors as a group. Except as indicated in the footnotes below, the security and stockholders listed below possess sole voting and investment power with respect to their shares.

Name and Address of Beneficial Owner (4)	Amount and Nature of Beneficial Ownership (2)		Percentage of Class (2)
(5% beneficial Owner)

A&U Capital Partner Ltd.		3,000,000		8.95	%
Youxin Peng		5,500,000		16.41	%
Zhirong Peng		5,500,000		16.41	%
North America Chinese Financial Association		5,500,000		16.41	%
(Director and Management)

Zhou Yanru		5,500,000		16.41	%
Chu Li An		60,000		0.001	%
Ong Tee Keat		0		0.00	%
All Directors, Executive Officers and 5% Beneficial Owner as a Group (7 persons)		25,060,000		74.79	%

(1) "Beneficial Owner" means having or sharing, directly or indirectly (i) voting power, which includes the power to vote or to direct the voting, or (ii) investment power, which includes the power to dispose or to direct the disposition, of shares of the common stock of an issuer. The definition of beneficial ownership includes shares, underlying options or warrants to purchase common stock, or other securities convertible into common stock, that currently are exercisable or convertible or that will become exercisable or convertible within 60 days. Unless otherwise indicated, the beneficial owner has sole voting and investment power.

(2) For each shareholder, the calculation of percentage of beneficial ownership is based upon 33,503,604 shares of Common Stock outstanding as of December 31, 2017, and shares of Common Stock subject to options, warrants and/or conversion rights held by the shareholder that are currently exercisable or exercisable within 60 days, which are deemed to be outstanding and to be beneficially owned by the shareholder holding such options, warrants, or conversion rights. The percentage ownership of any shareholder is determined by assuming that the shareholder has exercised all options, warrants and conversion rights to obtain additional securities and that no other shareholder has exercised such rights.

Equity Compensation Plan Information

As of the date of this Form 10-K, the Company has not authorized any equity compensation plan, nor has our Board of Directors authorized the reservation or issuance of any securities under any equity compensation plan.

Changes in Control

There are no arrangements known to us, including any pledge by any person of our securities, the operation of which may at a subsequent date result in a change in control of the Company.

ITEM 13.

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS.

Transactions with Related Persons

During the year ended December 31, 2016, stockholders advanced $183,304 to the Company. As of December 31, 2016, the balance due to related parties was $268,141.

On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.

During the year ended December 31, 2017, the Company paid $37,500 to Rock Computer Technology Company for service provided. The company’s CEO, Mr. Chi-Shun Chang, served as the president of Rock Computer Technology Company.

During the year ended December 31, 2017, the Company entered a loan agreement and issued a promissory note to the Chairman of Board of Directors. (See Note 9)

Director Independence

Currently, we have no independent directors on our Board of Directors, and therefore have no formal procedures in effect for reviewing and pre-approving any transactions between us, our directors, officers and other affiliates. We will use our best efforts to insure that all transactions are on terms at least as favorable to the Company as we would negotiate with unrelated third parties.

ITEM 14.

PRINCIPAL ACCOUNTANT FEES AND SERVICES.

	2017		2016
Audit fees(1)	$	40,000	$	15,000
Audit-related fees	$	—	$	—
Tax fees(2)	$	—	$	—
All other fees	$	—	$	—
Total	$	40,000	$	15,000

(1)

Consists of fees billed for the audit of our annual financial statements, review of financial statements included in our Quarterly Reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements.

(2)

“Tax Fees” consisted of fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning.

Pre-Approval Policies and Procedures

Under the Sarbanes-Oxley Act of 2002, all audit and non-audit services performed by our auditors must be approved in advance by our Board to assure that such services do not impair the auditors’ independence from us. In accordance with its policies and procedures, our Board pre-approved the audit service performed by Paritz & Company, P.C., for our consolidated financial statements as of and for the year ended December 31, 2017.

PART IV

ITEM 15.

EXHIBITS, FINANCIAL STATEMENTS SCHEDULES.

Exhibit No.		Description
3.1(1)		Articles of Incorporation
3.2(1)		By-Laws
4.1(1)		Form of Share Certificate
10.1(1)		Private Placement Memorandum
10.2(1)		Subscription Agreement
10.3(1)		Registration Rights Agreement
10.4(2)		Employment Agreement dated Oct. 1, 2013 between American Jianye Greentech Holdings Ltd. and Chu Li An.
10.19(3)		Certificate of Amendment dated February 13 of changing name to AJ Greentech Holdings. Ltd.
31.1		Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
31.2		Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 *
32.1		Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
32.2		Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
101		The following materials from our Annual Report on Form 10-K for the year ended December 31, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Stockholders' Equity (iv) the Consolidated Statements of Cash Flows, and (v) Notes to Consolidated Financial Statements. *

(1) Filed as exhibits to the registrant’s Form SB-2 filed with the Commission on June 29, 2007.

(2) Filed as exhibits to the registrant’s Form 8-K filed with the Commission on Oct. 1, 2013.

(3) Filed as exhibits to the registrant’s Form 8-K filed with the Commission on February 19, 2014.

* Filed herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Sino United Worldwide Consolidated Ltd.

Date: July 5, 2018	By:	/s/ Yanru Zhou
		Yanru Zhou Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date

/s/ Yanru Zhou	Chief Financial Officer, Director	July 5, 2018
Yanru Zhou	(Principal Financial Officer)

/s/ Yanru Zhou	Chief Executive Officer	July 5, 2018
Yanru Zhou

Sino United Worldwide Consolidated Ltd. and Subsidiary

December 31, 2017 and 2016

Index to the consolidated financial statements

Contents	Page(s)
Report of Independent Registered Public Accounting Firm	F-1 - F-2
Consolidated Balance Sheets	F-3
Consolidated Statements of Comprehensive Loss	F-4
Consolidated Statements of Stockholders’ Equity (Deficiency)	F-5
Consolidated Statements of Cash Flows	F-6
Notes to the Consolidated Financial Statements	F-7 - F-16

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Stockholders and Board of Directors of

Sino United Worldwide Consolidated Ltd.

Flushing, NY

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheet of Sino United Worldwide Consolidated Ltd (the “Company”) as of December 31, 2017, and the related consolidated statement of comprehensive loss, stockholders’ equity (deficiency), and cash flows for the year ended December 31, 2017, and the related notes (collectively referred to as the financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2017, and the results of its operations and its cash flows for the year ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As described in Note 2 to the financial statements, the Company had a working capital deficit of $78,508, accumulated deficit of $1,759,743 and stockholders’ deficiency of $78,508 as of December 31, 2017, and has not generated cash or income from its continuing operation. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regards to these matters are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/S/Paritz & Company, P.A.

Hackensack, NJ

July 6, 2018

We have served as the Company’s auditor since 2018.

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders
AJ Greentech Holdings Ltd.

We have audited the accompanying consolidated balance sheets of AJ Greentech Holdings Ltd. (the “Company”) as of December 31, 2016 and the related consolidated statements of operations, stockholders’ equity and cash flows for the year then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of AJ Greentech Holdings Ltd. as of December 31, 2016 and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the consolidated financial statements, the Company’s accumulated deficit and lack of assets raise substantial doubt about its ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Zhang, Hongling, CPA, P.C.

New York, NY

May 15, 2017.

F-2

Sino United Worldwide Consolidated Ltd.
Consolidated Balance Sheets

		December 31, 2017			December 31, 2016
ASSETS
Current Assets
Cash	$	50,044		$	3,016
Accounts receivable		15,000			—
Current assets of discontinued operation		—			2,068,531
Total Current Assets		65,044			2,071,547

Other assets of discontinued operation		—			169,444
Total Assets	$	65,044		$	2,240,991

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
Current Liabilities
Credit card payable	$	4,630		$	—
Convertible promissory note - related party		30,000			—
Convertible promissory note - other		65,000			—
Due to related parties		—			268,141
Accrued expenses and other current liabilities		43,922			9,000
Current liabilities of discontinued operation		—			1,147,190
Total Current Liabilities		143,552			1,424,331

Long term liabilities of discontinued operation		—			433,457
Total Liabilities		143,552			1,857,788

COMMITMENTS AND CONTINGENCIES

Stockholders' Equity (Deficiency)
Common stock, $0.001 par value, 394,500,000 shares authorized; 33,503,604 and 58,985,937 shares issued and outstanding at December 31, 2017 and 2016, respectively		33,504			58,986
Additional paid-in capital		1,647,731			593,947
Accumulated deficit		(1,759,743	)		(960,234	)
Accumulated other comprehensive income		—			690,504
Total Stockholders' Equity (Deficiency)		(78,508	)		383,203
Total Liabilities and Stockholders’ Equity (Deficiency)	$	65,044		$	2,240,991


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

F-3

Sino United Worldwide Consolidated Ltd.
Consolidated Statements of Comprehensive Loss

	For the Year Ended
	December 31,
	2017			2016
Revenue	$	30,000		$	—

Operating expenses
General and administrative		185,449			209,347
Total operating expenses		185,449			209,347

Loss from operations		(155,449	)		(209,347	)

Other expenses:
Interest expense - Related Party		(30,375	)		—
Interest expense - Other		(65,813	)		—
Total other expense		(96,188	)		—

Loss from continuing operations before income tax		(251,637	)		(209,347	)
Income tax provision		—			—
Loss from continuing operations		(251,637	)		(209,347	)

Discontinued operations
Loss from discontinued operations, net of tax		(547,872	)		(104,655	)

Net loss		(799,509	)		(314,002	)

Other comprehensive income (loss)
Foreign currency translation adjustment		37,976			(85,070	)
Comprehensive loss	$	(761,533	)	$	(399,072	)

Loss per share
Basic and Diluted - continuing operation	$	(0.00	)	$	(0.00	)
- discontinued operation	$	(0.01	)	$	(0.00	)
Total	$	(0.01	)	$	(0.00	)

Weighted average shares outstanding - Basic and Diluted		52,562,705			58,705,593


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

F-4

Sino United Worldwide Consolidated Ltd.
Consolidated Statements of Stockholders' Equity (Deficiency)

	Common Stock						Additional					Accumulated Other
	Number of Shares			Amount			Paid-in Capital		Accumulated Deficit			Comprehensive Income (loss)			Total
Balance at December 31, 2015		58,443,054		$	58,443		$	380,485	$	(646,232	)	$	775,574		$	568,270
Issuance of common stock for cash		542,883			543			213,462		—			—			214,005
Net loss		—			—			—		(314,002	)		—			(314,002	)
Foreign currency translation adjustment		—			—			—		—			(85,070	)		(85,070	)
Balance at December 31, 2016		58,985,937			58,986			593,947		(960,234	)		690,504			383,203
Beneficial conversion feature for convertible notes		—			—			95,000		—			—			95,000
Issuance of common stock for cash		21,000			21			104,979		—			—			105,000
Net loss		—			—			—		(799,509	)		—			(799,509	)
Foreign currency translation adjustment		—			—			—		—			37,976			37,976
Sold off a subsidiary (see Note 4)		(25,503,333	)		(25,503	)		853,805		—			(728,480	)		99,822
Balance at December 31, 2017		33,503,604		$	33,504		$	1,647,731	$	(1,759,743	)	$	—		$	(78,508	)


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

F-5

Sino United Worldwide Consolidated Ltd.
Consolidated Statements of Cash Flows

	For the Year Ended
	December 31,
	2017			2016
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	$	(799,509	)	$	(314,002	)
Net loss from discontinued operation		(547,872	)		(104,655	)
Net loss from continuing operation		(251,637	)		(209,347	)

Adjustment to reconcile net loss to net cash used in operating activities:
Non-cash interest		95,000			—
Change in operating assets and liabilities:
Accounts receivable		(15,000	)		—
Accounts payable		—			18,000
Credit card payable		4,630			—
Accrued expenses		32,188			9,000
Net cash used in continuing operation		(134,819	)		(182,347	)
Net cash provided by discontinued operation		111,825			51,571
Net cash used in operating activities		(22,994	)		(130,776	)

CASH FLOW FROM INVESTING ACTIVITIES
Net cash used in continuing operation		—			—
Net cash used in discontinued operation		(2,810	)		(165,051	)
Net cash used in investing activities		(2,810	)		(165,051	)

CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from non-related party loan		2,734			—
Proceeds from convertible promissory note- related party		30,000			—
Proceeds from convertible promissory note- non-related party		65,000			—
Proceeds from issuance of common stock		105,000			214,004
Net cash provided by continuing operation		202,734			214,004
Net cash provided by (used in) discontinued operation		(146,126	)		169,909
Net cash provided by financing activities		56,608			383,913

Effect of exchange rate changes on cash		16,224			(85,070	)
INCREASE IN CASH		47,028			3,016
Cash - beginning of year		3,016			—
Cash - ending of year	$	50,044		$	3,016

Supplement disclosure information
Cash paid for interest	$	24,854		$	33,324
Cash paid for income taxes	$	2,746		$	—

Non-cash financing activities:
Debt discount incurred from beneficial conversion feature	$	95,000		$	—
Due to related parties balances were settled by sale of subsidiary	$	379,254		$	—


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

F-6

Sino United Worldwide Consolidated Ltd.

Notes to the Consolidated Financial Statements

December 31, 2017 and 2016

Note 1 – Organization and Basis of presentation

Organization

Sino United Worldwide Consolidated Ltd. (the “Company”), through its wholly owned subsidiary in Taiwan, Jinchih International Limited (“Jinchih”), engaged in design, marketing and distributing of hardware and software technologies, including new cell phone apps, as well as solutions and technology in fleet management, the driving record management system (DMS) that provide total solution and management mechanism for vehicles and driver behavior control and analysis, which increase driving safety and efficiency.

On September 30, 2017, pursuant to agreements with one of the Company’s directors, Li-An Chu, the Company transferred the 100% ownership in Jinchih, to Li-An Chu in exchange for cancellation of debt $379,254 and cancellation of total 25,503,333 shares of the Company’s common stock owned by a group of stockholders, including Ms Li-An Chu. As a result of these transactions, Jinchih is no longer a wholly owned subsidiary of the Company as of September 30, 2017. (See Note 4)

Basis of presentation and consolidation

The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of the Company and its wholly owned subsidiary. All inter-company transactions and balances are eliminated in consolidation.

Certain amounts in last year’s financial statements have been reclassified to conform to current year presentation.

Note 2 – Going Concern

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had a working capital deficit of $78,508, an accumulated deficit of $1,759,743 and stockholders’ deficiency was $78,508 as of December 31, 2017. The Company did not generate cash or income from its continuing operation. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The company is developing new businesses in various fields. 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.

F-7

NOTE 3 – 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. Significant accounting estimates reflected in the Company’s consolidated financial statements included the valuation of accounts receivable, the estimated useful lives of long term assets, the valuation of short term investment and the valuation of deferred tax assets.

Cash and cash equivalents

Cash and cash equivalents include cash on hand and deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use and with an original maturity of three months or less. The Company maintains its cash in bank deposit accounts. Cash accounts are guaranteed by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on such cash.

Accounts Receivable and Allowance for Doubtful Accounts

For the years ended December 31, 2017 and 2016, the Company recorded bad debt expense of $313,430 and $87,590, respectively, which were included in the loss from discontinued operations.

F-8

Inventories

Revenue Recognition

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Leasehold and tenant improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. The Company periodically reviews assets’ estimated useful lives based upon actual experience and expected future utilization. A change in useful life is treated as a change in accounting estimate and is applied prospectively.

Upon retirement or disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in selling, general and administrative expenses for that period. Major additions and betterments are capitalized to the asset accounts while maintenance and repairs, which do not improve or extend the lives of assets, are expensed as incurred.

F-9

Investments in Non-consolidated Entities

Investments in non-consolidated entities are accounted for using the equity method or cost basis depending upon the level of ownership and/or the Company's ability to exercise significant influence over the operating and financial policies of the investee. When the equity method is used, investments are recorded at original cost and adjusted periodically to recognize the Company's proportionate share of the investees' net income or losses after the date of investment. When net losses from an investment are accounted for under the equity method exceed its carrying amount, the investment balance is reduced to zero and additional losses are not provided for. The Company resumes accounting for the investment under the equity method if the entity subsequently reports net income and the Company's share of that net income exceeds the share of net losses not recognized during the period the equity method was suspended. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred.

Fair Value of Financial Instruments

ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy that requires classification based on observable and unobservable inputs when measuring fair value. The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels:

	•	Level one - Quoted market prices in active markets for identical assets or liabilities;

	•	Level two - Inputs other than level one inputs that are either directly or indirectly observable; and

	•	Level three - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.

The fair values of the Company’s cash, accounts receivable, 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.

There are no financial instruments measured at fair value on a recurring basis.

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.

F-10

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.

Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

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 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. Because the Company incurred losses for the years ended December 31, 2017 and 2016, the number of basic and diluted shares of common stock is the same since any effect from outstanding warrants would be anti-dilutive.

F-11

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 comprehensive income (loss). 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 comprehensive income (loss).

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 year	December 31, 2016		December 31, 2017
Taiwan dollar (TWD)		1		1
United States dollar ($)		0.03105		0.033

Exchange Rate at		December 31, 2016		December 31, 2017
Taiwan dollar (TWD)		1		1
United States dollar ($)		0.03098		0.033

Comprehensive Income (Loss)

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

Recently Issued Accounting Pronouncements

In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance makes targeted improvements to existing U.S. GAAP for financial instruments, including requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; requiring entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset and requiring entities to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017. Early adoption of the own credit provision is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.

In May 2016, FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606) - Narrow-Scope Improvements and Practical Expedients”. The update is to address certain issues identified by the FASB/IASB Joint Transition Resource Group for Revenue Recognition (TRG) in the guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition, the Board decided to add a project to its technical agenda to improve Topic 606, Revenue from Contracts with Customers, by reducing: 1) the potential for diversity in practice at initial application and 2) the cost and complexity of applying Topic 606 both at transition and on an ongoing basis. The amendments in this Update affect entities with transactions included within the scope of Topic 606. The scope of that Topic includes entities that enter into contracts with customers to transfer goods or services (that are an output of the entity’s ordinary activities) in exchange for consideration. The amendments to the recognition and measurement provisions of Topic 606 also affect entities with transactions included within the scope of Topic 610, Other Income. The amendments in this Update affect the guidance in Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. The adoption of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements and related disclosures.

F-12

In December 2017, the Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 118 (the “Bulletin”), which provides accounting guidance regarding accounting for income taxes for the reporting period that includes the enactment of the Tax Act. The Bulletin provides guidance in those situations where the accounting for certain income tax effects of the Tax Act will be incomplete by the time financial statements are issued for the reporting period that includes the enactment date. For those elements of the Tax Act that cannot be reasonably estimated, no effect will be recorded.

The SEC has provided in the Bulletin that in situations where the accounting is incomplete for certain effects of the Tax Act, a measurement period which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information is needed in order to complete the accounting requirements. The measurement period shall not exceed one year from enactment.

In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This guidance is effective for all entities for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. The amendments in ASU 2018-02 should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements and related disclosures.

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 4 – Discontinued Operation

On September 30, 2017, pursuant to agreements with one of our directors, Li-An Chu, the Company transferred the 100% ownership in Jinchih, to Li-An Chu in exchange for cancellation of loan payable of $379,254 to Li-An Chu and cancellation of total 25,503,333 shares of the Company’s common stock owned by a group of stockholders, including Li-An Chu. As a result of these transactions, Jinchih is no longer a wholly owned subsidiary of the Company as of September 30, 2017. Since Jinchih was sold back to Li-An Chu who is the Company’s director, CEO and CFO at the time of the transaction, no gain or loss was recorded in the statement of comprehensive loss for the year ended December 31, 2017. The net gain of $99,822 from the sale of Jinchih was included in stockholders’ equity.

The balance sheets and the results of operations of discontinued operations for the years ended December 31, 2017 and 2016 are as following:

	2017		2016
Assets:
Cash	$	—	$	251,416
Short-term investments		—		403,617
Accounts receivable, net		—		1,331,409
Inventories		—		81,058
Other current assets		—		1,031
Property, plant and equipment, net		—		8,890
Intangible Assets, net		—		146,142
Other assets		—		14,412
Total assets	$	—	$	2,237,975

Liabilities:
Short-term loan		—		427,168
Accounts payable		—		584,605
Advances from customers		—		132,000
Other current liabilities		—		3,417
Long-term debt		—		433,457
Total liabilities	$	—	$	1,580,647

	2017			2016

Revenue	$	2,439,841		$	2,666,662
Cost of goods sold		(1,827,637	)		(2,307,293	)
General and administrative expenses		(792,542	)		(307,404	)
Depreciation and amortization		(30,665	)		(32,751	)
Bad debt expense		(313,430	)		(87,590	)
Interest income (expense), net		(23,439	)		(33,075	)
Income tax provision		—			(3,204	)
Loss from discontinued operations	$	(547,872	)	$	(104,655	)

F-13

NOTE 5 – Accounts Receivable

Accounts receivable at December 31, 2017 and 2016 consisted of the following:

	December 31, 2017		December 31, 2016
Continuing operations:
Accounts receivable	$	15,000	$	—
Less: Allowance for doubtful accounts		—		—
	$	15,000	$	—

	December 31, 2017		December 31, 2016
Discontinued operations:
Accounts receivable	$	—	$	1,418,999
Less: Allowance for doubtful accounts		—		(87,590)
	$	—	$	1,331,409

NOTE 6 – Short-Term Investment

Short-term investment consists of shares of stock of non-public traded company purchased by the Company which was recorded at cost. For the year ended December 31, 2016, the Company sold 100,000 shares of stock of Xin Tianran Electric Power Co., Ltd. for TWD$10 (approximately $0.33) per share which was same as the cost per share. No gain or loss was recognized. During the year ended December 31, 2017, the Company impaired the full amount of short-term investment and recorded an impairment loss of $425,753 which was included in the loss from discontinued operation.

NOTE 7 – Intangible Assets

Intangible assets include costs of technology purchased and product designed cost. Intangible assets are stated at cost, less accumulated amortization.

In the year ended December 31, 2016, the Company purchased the DMS technology from Xinyahang Gufen Youxian Gongsi (“Xinyahang”) for $128,176 and 500,000 shares of the Company’s common stock. Cash of $128,176 was paid in 2016 and 500,000 shares of common stock were valued at $0.001 per share.

On October 1, 2016, the Company entered into two-year service agreement with Xinyahang to design the device for the DMS system for $50,172.

In August 2017, the Company determined not to continue the business with the DMS system and recorded the impairment on intangible assets of $119,181 which was included in the loss from discontinued operation.

On September 30, 2017, the Company sold Jinchih to one of the Company’s officer and director (see note 4).

	December 31, 2017		December 31, 2016
Intangible assets	$	—	$	178,348
Less: Accumulated amortization		—		(32,206	)
Total:	$	—	$	146,142

NOTE 8 – Bank Loans

Bank loans were repaid by equal monthly payment of principal and interest. Bank loans payable as of December 31, 2016 consist of following which were included in the liabilities from discontinued operation:

	December 31, 2016		Term		Int. Rate/Year
Cathay United Bank		59,791		Dec 19, 2016 to Nov 18, 2017.		3.11	%

Long term debt: principal amount payable within 1 year

First Commercial Bank Ltd.		45,047		Dec 31, 2016 to Dec 30, 2017.		5.07	%

Taiwan Business Bank Ltd.		56,260		Dec 26, 2016 to Dec 25, 2017.		3.60	%

Bank of Panshin		45,829		Dec 11, 2016 to Dec 10, 2017.		3.67	%

Sunny Bank Ltd.		107,309		Dec 22, 2016 to Dec 21, 2017.		3.49	%

Sunny Bank Ltd.		112,932		Dec 6, 2016 to Dec 5, 2017.		3.49	%
Total	$	427,168

Long-Term portion of bank loans:

	December 31, 2016		Term		Int. Rate/Year
Taiwan Business Bank Ltd.		129,620		Dec 26, 2017 to Sep 25, 2020.		3.60	%
Sunny Bank Ltd.		8,507		Dec 22, 2017 to Jan 21, 2018.		3.49	%
Bank of Panshin		21,107		Dec 11, 2017 to Jun 10, 2018.		3.67	%
Sunny Bank Ltd.		164,023		Dec 6, 2017 to Aug 5, 2019.		3.49	%
First Commercial Bank Ltd.		110,200		Dec 31, 2017 to Jan 30, 2021.		5.07	%
Total	$	433,457

There were no bank loan payable as of December 31, 2017.

F-14

NOTE 9 – Convertible Promissory Note

On October 1, 2017, Mr. Tee-Keat Ong, the Chairmen of the Board of Directors, and the Company entered into a loan agreement pursuant to which Mr. Tee-Keat Ong agreed to lend the Company $30,000 initially with future loan amount up to $1,000,000. On the same date, the Company issued a promissory note to Mr. Tee-Keat Ong for the principal amount of $30,000. The promissory note bears interest at five percent (5%) per annum and is due on demand. Pursuant to the terms of the note, the note is convertible into the Company’s common stock at a conversion price of $0.001 per share. The note began to accrue interest at 10% per annum when it is past due.

On October 1, 2017, the Company entered into a loan agreement with Ms. Shoou Chyn Kan, an unrelated individual. Pursuant to the loan agreement, Ms. Shoou Chyn Kan agreed to lend the Company $65,000 initially with future loan amount up to $1,000,000. On the same date, the Company issued a promissory note to Ms. Shoou Chyn Kan for the principal amount of $65,000. The promissory note bears interest at 5% per annum and is due on demand. Pursuant to the terms of the note, the note is convertible into the Company’s common stock at a conversion price of $0.001 per share. The note began to accrue interest at 10% per annum when it is past due.

Since the conversion price for above notes were lower than the quoted price of the Company’s common stock on OTC market, the beneficial conversion amount of $95,000 was recorded as interest expense in the statement of comprehensive loss for the year ended December 31, 2017.

NOTE 10 – Related Party Transactions and Balances

Due to related parties consists of amount advances from stockholders for the use of working capital and the payment of expenses. During the year ended December 31, 2016, stockholders advanced $183,304 to the Company. As of December 31, 2016, the balance due to related parties was $268,141.

On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.

During the year ended December 31, 2017, the Company paid $37,500 to Rock Computer Technology Company for service provided. The company’s CEO, Mr. Chi-Shun Chang served as the president of Rock Computer Technology Company.

During the year ended December 31, 2017, the Company sold its wholly owned subsidiary, Jinchih, to one of its directors, Li-An Chu. (See Note 4)

During the year ended December 31, 2017, the Company entered a loan agreement and issued a promissory note to the Chairman of Board of Directors. (See Note 9)

F-15

NOTE 11 – 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 the deferred tax asset cannot be realized through future income the Company must set up allowance for this future tax benefit. As of December 31, 2017, the Company had approximately $1 million net operating loss carryforward available in the U.S. from continuing operation to reduce future taxable income. The Company set up 100% valuation allowance for deferred tax assets resulting from net operating loss carryforward.

Taxation on profits earned in the Taiwan has been calculated on the estimated assessable profits for the year at the rates of 17% in the Taiwan after taking into account the benefits from any special tax credits or “tax holidays” allowed in the county of operations.

A reconciliation of the provision for income taxes to the Company’s effective income tax rate for continuing operation is as follows:

	Years Ended December 31,
	2017			2016
Pre-tax loss	$	(251,637	)	$	(209,347	)
U.S. federal corporate income tax rate		35	%		35	%
Expected U.S. income tax credit		(88,073	)		(73,271	)
Change of valuation allowance		88,073			73,271
Effective tax expense	$	—		$	—

The Company had deferred tax assets as follows:

	Years Ended December 31,
	2017			2016
Net operating losses carried forward	$	356,624		$	268,552
Effect of rate change		(142,650	)		—
Less: Valuation allowance		(213,974	)		(268,552	)
Net deferred tax assets	$	—		$	—

The U.S. Tax Cuts and Jobs Act (the "Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35% to 21% and creates new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively. The Company's deferred tax assets were remeasured to reflect the reduction in the U.S. corporate income tax rate from 35% to 21%, resulting in a change of deferred tax assets of $142,650 for the year ended December 31, 2017. This amount can be seen on the rate reconciliation as an adjustment to deferred tax asset and corresponding valuation allowance.

NOTE 12 – COMMON STOCK

The Company issue the following shares of common stock during the periods indicated below:

On October 5, 2017, the Company issued 21,000 shares to two investors at five dollars per share for a purchase price of $105,000.

On December 27, 2017, the Company retired 25,503,333 shares returned from various stockholders in connection with the sale of Taiwan subsidiary, Jinchih, pursuant to the agreement with one of the Company’s directors. (See Note 4)

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

On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.

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

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

On May 10, 2016, the Company issued 21,000 shares to an investor with a purchase price of $4.76 per share for cash.

On June 28, 2016, the Company issued 1,250 shares to an investor with a purchase price of $2.40 per share for cash.

On July 12, 2016, the Company issued 500,000 shares to a Xinyahang Electronics Co. Ltd. Taiwan, as part of the payment for technology transfer and purchase of DMS platform technology.

On July 12, 2016, the Company issued total 1,600 shares to six investors with a purchase price of $10.00 per share for cash.

On July 12, 2016, the Company issued 700 shares to an investor with a purchase price of $12.00 per share for cash.

On July 15, 2016, the Company issued 2,000 shares to consultant Kuo, Yu-chieh to offset for consulting fees payable.

On August 8, 2016, the Company issued 200 shares to an investor with a purchase price of $14.00 per share for cash.

On September 6, 2016, the Company issued 2,400 shares to an investor with a purchase price of $14.00 per share for cash.

On October 31, 2016, the Company issued 400 shares to three investors with a purchase price of $14 per share for cash.

NOTE 13 –SUBSEQUENT EVENTS

The Company has evaluated the existence of significant events subsequent to the balance sheet date through the date the financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the financial statements.

F-16

EX-31.1 2 suic0620form10kexh31_1.htm EXHIBIT 31.1

Exhibit 31.1

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

I, Yanru Zhou, certify that:

1. I have reviewed this annual report on Form 10-K of Sino United Worldwide Consolidated 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: July 5, 2018.

By: /s/ Yanru Zhou

Name: Yanru Zhou

Title: Chief Executive Officer

(Principal Executive Officer)

EX-31.2 3 suic0620form10kexh31_2.htm EXHIBIT 31.2

Exhibit 31.2

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

I, Yanru Zhou, certify that:

1. I have reviewed this annual report on Form 10-K of Sino United Worldwide Consolidated 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: July 5, 2018.

By: /s/ Yanru Zhou

Name: Yanru Zhou

Title: Chief Financial Officer

(Principal Accounting Officer)

EX-32.1 4 suic0620form10kexh32_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 Annual Report of Sino United Worldwide Consolidated Ltd. (the “Registrant”) on Form 10-K for the year ended December 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Yanru Zhou, 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: July 5, 2018.

By: /s/ Yanru Zhou

Name: Yanru Zhou

Title: Chief Executive Officer

(Principal Executive Officer)

A signed original of this written statement required by Section 906 has been provided to Sino United Worldwide Consolidated Ltd and will be retained by Sino United Worldwide Consolidated Ltd. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2 5 suic0620form10kexh32_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 Annual Report of Sino United Worldwide Consolidated Ltd. (the “Registrant”) on Form 10-K for the year ended December 31, 2017 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Yanru Zhou, 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: July 5, 2018.

By: /s/ Yanru Zhou

Name: Yanru Zhou

Title: Chief Financial Officer

(Principal Accounting Officer)

A signed original of this written statement required by Section 906 has been provided to Sino United Worldwide Consolidated Ltd. and will be retained by Sino United Worldwide Consolidated Ltd. and furnished to the Securities and Exchange Commission or its staff.

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NOTE 3 – 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. Significant accounting estimates reflected in the Company’s consolidated financial statements included the valuation of accounts receivable, the estimated useful lives of long term assets, the valuation of short term investment and the valuation of deferred tax assets.   Cash and cash equivalents   Cash and cash equivalents include cash on hand and deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use and with an original maturity of three months or less. The Company maintains its cash in bank deposit accounts. Cash accounts are guaranteed by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on such cash.   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.   For the years ended December 31, 2017 and 2016, the Company recorded bad debt expense of $313,430 and $87,590, respectively, which were included in the loss from discontinued operations.   Inventories   Inventories consists of products purchased and are valued at the lower of cost or net realizable value. Cost is determined on the weighted average cost method. 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 net realizable value. Factors utilized in the determination of estimated net realizable 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.   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.   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. Property and Equipment   Property and equipment are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Leasehold and tenant improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. The Company periodically reviews assets’ estimated useful lives based upon actual experience and expected future utilization. A change in useful life is treated as a change in accounting estimate and is applied prospectively.   Upon retirement or disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in selling, general and administrative expenses for that period. Major additions and betterments are capitalized to the asset accounts while maintenance and repairs, which do not improve or extend the lives of assets, are expensed as incurred. Investments in Non-consolidated Entities   Investments in non-consolidated entities are accounted for using the equity method or cost basis depending upon the level of ownership and/or the Company's ability to exercise significant influence over the operating and financial policies of the investee. When the equity method is used, investments are recorded at original cost and adjusted periodically to recognize the Company's proportionate share of the investees' net income or losses after the date of investment. When net losses from an investment are accounted for under the equity method exceed its carrying amount, the investment balance is reduced to zero and additional losses are not provided for. The Company resumes accounting for the investment under the equity method if the entity subsequently reports net income and the Company's share of that net income exceeds the share of net losses not recognized during the period the equity method was suspended. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred. Fair Value of Financial Instruments   ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy that requires classification based on observable and unobservable inputs when measuring fair value. The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels:   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="line-height: 115%; width: 3%"> </td> <td style="line-height: 115%; width: 4%">•</td> <td style="line-height: 115%; width: 93%; text-align: justify">Level one - Quoted market prices in active markets for identical assets or liabilities;</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">•</td> <td style="line-height: 115%; text-align: justify">Level two - Inputs other than level one inputs that are either directly or indirectly observable; and</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">•</td> <td style="line-height: 115%; text-align: justify">Level three - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.</td></tr> </table>   Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The fair values of the Company’s cash, accounts receivable, 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. There are no financial instruments measured at fair value on a recurring basis.   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.   Convertible Instruments   The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption. 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 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. Because the Company incurred losses for the years ended December 31, 2017 and 2016, the number of basic and diluted shares of common stock is the same since any effect from outstanding warrants would be anti-dilutive.   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 comprehensive income (loss). 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 comprehensive income (loss).   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 cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1pt solid">Average Rate for the year</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">December 31, 2016</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Taiwan dollar (TWD)</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">1</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: 20%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exchange Rate at</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2016</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2017</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">Taiwan dollar (TWD)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> </table>   Comprehensive Income (Loss)   Comprehensive income (loss) includes accumulated foreign currency translation gains and losses with respect to the operating entity in Taiwan.   Recently Issued Accounting Pronouncements   In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance makes targeted improvements to existing U.S. GAAP for financial instruments, including requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; requiring entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset and requiring entities to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017. Early adoption of the own credit provision is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In May 2016, FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606) - Narrow-Scope Improvements and Practical Expedients”. The update is to address certain issues identified by the FASB/IASB Joint Transition Resource Group for Revenue Recognition (TRG) in the guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition, the Board decided to add a project to its technical agenda to improve Topic 606, Revenue from Contracts with Customers, by reducing: 1) the potential for diversity in practice at initial application and 2) the cost and complexity of applying Topic 606 both at transition and on an ongoing basis. The amendments in this Update affect entities with transactions included within the scope of Topic 606. The scope of that Topic includes entities that enter into contracts with customers to transfer goods or services (that are an output of the entity’s ordinary activities) in exchange for consideration. The amendments to the recognition and measurement provisions of Topic 606 also affect entities with transactions included within the scope of Topic 610, Other Income. The amendments in this Update affect the guidance in Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. The adoption of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements and related disclosures.   In December 2017, the Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 118 (the “Bulletin”), which provides accounting guidance regarding accounting for income taxes for the reporting period that includes the enactment of the Tax Act. The Bulletin provides guidance in those situations where the accounting for certain income tax effects of the Tax Act will be incomplete by the time financial statements are issued for the reporting period that includes the enactment date. For those elements of the Tax Act that cannot be reasonably estimated, no effect will be recorded. The SEC has provided in the Bulletin that in situations where the accounting is incomplete for certain effects of the Tax Act, a measurement period which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information is needed in order to complete the accounting requirements. The measurement period shall not exceed one year from enactment.   In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This guidance is effective for all entities for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. The amendments in ASU 2018-02 should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements and related disclosures.   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 cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1pt solid">Average Rate for the year</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">December 31, 2016</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 50%">Taiwan dollar (TWD)</td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 20%">1</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%">1</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exchange Rate at</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2016</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2017</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">Taiwan dollar (TWD)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> </table>

0.033

0.03098

0.033

0.03105

NOTE 5 – Accounts Receivable   Accounts receivable at December 31, 2017 and 2016 consisted of the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td></tr> <tr style="vertical-align: bottom"> <td>Continuing operations:</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; width: 51%">Accounts receivable</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">15,000</td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 3%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">—  </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Less: Allowance for doubtful accounts</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">15,000</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td></td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017 </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016 </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Discontinued operations:</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accounts receivable</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">$</td><td style="font-size: 10pt; font-weight: normal; text-align: right">1,418,999 </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less: Allowance for doubtful accounts</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; font-weight: normal; text-align: right; border-bottom: Black 1pt solid">(87,590)</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">1,331,409</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td></tr> <tr style="vertical-align: bottom"> <td>Continuing operations:</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; width: 51%">Accounts receivable</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">15,000</td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 3%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">—  </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Less: Allowance for doubtful accounts</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">15,000</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td></td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017 </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016 </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Discontinued operations:</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right"> </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Accounts receivable</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: normal; text-align: left">$</td><td style="font-size: 10pt; font-weight: normal; text-align: right">1,418,999 </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less: Allowance for doubtful accounts</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; font-weight: normal; text-align: right; border-bottom: Black 1pt solid">(87,590)</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">1,331,409</td><td style="font-size: 10pt; 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. Significant accounting estimates reflected in the Company’s consolidated financial statements included the valuation of accounts receivable, the estimated useful lives of long term assets, the valuation of short term investment and the valuation of deferred tax assets.

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.   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   ASC Topic 820, Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy that requires classification based on observable and unobservable inputs when measuring fair value. The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels:   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: top"> <td style="line-height: 115%; width: 3%"> </td> <td style="line-height: 115%; width: 4%">•</td> <td style="line-height: 115%; width: 93%; text-align: justify">Level one - Quoted market prices in active markets for identical assets or liabilities;</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">•</td> <td style="line-height: 115%; text-align: justify">Level two - Inputs other than level one inputs that are either directly or indirectly observable; and</td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%"> </td> <td style="line-height: 115%; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="line-height: 115%"> </td> <td style="line-height: 115%">•</td> <td style="line-height: 115%; text-align: justify">Level three - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.</td></tr> </table>   Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The fair values of the Company’s cash, accounts receivable, 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. There are no financial instruments measured at fair value on a recurring basis.

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 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. Because the Company incurred losses for the years ended December 31, 2017 and 2016, the number of basic and diluted shares of common stock is the same since any effect from outstanding warrants would be anti-dilutive.

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 comprehensive income (loss). 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 comprehensive income (loss).   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 cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; border-bottom: Black 1pt solid">Average Rate for the year</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">December 31, 2016</td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 50%; text-align: left">Taiwan dollar (TWD)</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 20%; text-align: right">1</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: 20%; text-align: right">1</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exchange Rate at</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2016</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2017</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">Taiwan dollar (TWD)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">United States dollar ($)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.03098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.033</td><td style="text-align: left"> </td></tr> </table>

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

NOTE 10 – Related Party Transactions and Balances   Due to related parties consists of amount advances from stockholders for the use of working capital and the payment of expenses. During the year ended December 31, 2016, stockholders advanced $183,304 to the Company. As of December 31, 2016, the balance due to related parties was $268,141.   On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.   During the year ended December 31, 2017, the Company paid $37,500 to Rock Computer Technology Company for service provided. The company’s CEO, Mr. Chi-Shun Chang served as the president of Rock Computer Technology Company.    During the year ended December 31, 2017, the Company sold its wholly owned subsidiary, Jinchih, to one of its directors, Li-An Chu. (See Note 4)   During the year ended December 31, 2017, the Company entered a loan agreement and issued a promissory note to the Chairman of Board of Directors. (See Note 9)

NOTE 11 – 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 the deferred tax asset cannot be realized through future income the Company must set up allowance for this future tax benefit.  As of December 31, 2017, the Company had approximately $1 million net operating loss carryforward available in the U.S. from continuing operation to reduce future taxable income. The Company set up 100% valuation allowance for deferred tax assets resulting from net operating loss carryforward.   Taxation on profits earned in the Taiwan has been calculated on the estimated assessable profits for the year at the rates of 17% in the Taiwan after taking into account the benefits from any special tax credits or “tax holidays” allowed in the county of operations.   A reconciliation of the provision for income taxes to the Company’s effective income tax rate for continuing operation is as follows:    <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="7" style="text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Pre-tax loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(251,637</td><td style="width: 1%; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">(209,347</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">U.S. federal corporate income tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected U.S. income tax credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88,073</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(73,271</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">88,073</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,271</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Effective tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>   The Company had deferred tax assets as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="7" style="text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left">Net operating losses carried forward</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">356,624</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 15%; text-align: right">268,552</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(142,650</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—  </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(213,974</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(268,552</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>   The U.S. Tax Cuts and Jobs Act (the "Act") was enacted on December 22, 2017 and introduces significant changes to U.S. income tax law. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35% to 21% and creates new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the global intangible low-taxed income tax and the base erosion tax, respectively. The Company's deferred tax assets were remeasured to reflect the reduction in the U.S. corporate income tax rate from 35% to 21%, resulting in a change of deferred tax assets of $142,650 for the year ended December 31, 2017. This amount can be seen on the rate reconciliation as an adjustment to deferred tax asset and corresponding valuation allowance.

394500000

Note 1 – Organization and Basis of presentation   Organization   Sino United Worldwide Consolidated Ltd. (the “Company”), through its wholly owned subsidiary in Taiwan, Jinchih International Limited (“Jinchih”), engaged in design, marketing and distributing of hardware and software technologies, including new cell phone apps, as well as solutions and technology in fleet management, the driving record management system (DMS) that provide total solution and management mechanism for vehicles and driver behavior control and analysis, which increase driving safety and efficiency.   On September 30, 2017, pursuant to agreements with one of the Company’s directors, Li-An Chu, the Company transferred the 100% ownership in Jinchih, to Li-An Chu in exchange for cancellation of debt $379,254 and cancellation of total 25,503,333 shares of the Company’s common stock owned by a group of stockholders, including Ms Li-An Chu. As a result of these transactions, Jinchih is no longer a wholly owned subsidiary of the Company as of September 30, 2017. (See Note 4) The Company is developing new businesses in various fields through careful review and critical selection of new growth businesses. The Company is planning to strengthen our core competencies in high technology and blockchain related businesses, such as blockchain dapps technology, fintech services, professional consultancy for ICO’s, and other high potential critical blockchain projects. Basis of presentation and consolidation   The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and include the accounts of the Company and its wholly owned subsidiary. All inter-company transactions and balances are eliminated in consolidation.   Certain amounts in last year’s financial statements have been reclassified to conform to current year presentation.

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.   For the years ended December 31, 2017 and 2016, the Company recorded bad debt expense of $313,430 and $87,590, respectively, which were included in the loss from discontinued operations.

Inventories   Inventories consists of products purchased and are valued at the lower of cost or net realizable value. Cost is determined on the weighted average cost method. 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 net realizable value. Factors utilized in the determination of estimated net realizable 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.

Recently Issued Accounting Pronouncements   In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This guidance makes targeted improvements to existing U.S. GAAP for financial instruments, including requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; requiring entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset and requiring entities to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017. Early adoption of the own credit provision is permitted. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements. In May 2016, FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606) - Narrow-Scope Improvements and Practical Expedients”. The update is to address certain issues identified by the FASB/IASB Joint Transition Resource Group for Revenue Recognition (TRG) in the guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition, the Board decided to add a project to its technical agenda to improve Topic 606, Revenue from Contracts with Customers, by reducing: 1) the potential for diversity in practice at initial application and 2) the cost and complexity of applying Topic 606 both at transition and on an ongoing basis. The amendments in this Update affect entities with transactions included within the scope of Topic 606. The scope of that Topic includes entities that enter into contracts with customers to transfer goods or services (that are an output of the entity’s ordinary activities) in exchange for consideration. The amendments to the recognition and measurement provisions of Topic 606 also affect entities with transactions included within the scope of Topic 610, Other Income. The amendments in this Update affect the guidance in Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), which is not yet effective. The effective date and transition requirements for the amendments in this Update are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by Update 2014-09). Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. The adoption of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements and related disclosures.   In December 2017, the Securities and Exchange Commission (“SEC”) released Staff Accounting Bulletin No. 118 (the “Bulletin”), which provides accounting guidance regarding accounting for income taxes for the reporting period that includes the enactment of the Tax Act. The Bulletin provides guidance in those situations where the accounting for certain income tax effects of the Tax Act will be incomplete by the time financial statements are issued for the reporting period that includes the enactment date. For those elements of the Tax Act that cannot be reasonably estimated, no effect will be recorded. The SEC has provided in the Bulletin that in situations where the accounting is incomplete for certain effects of the Tax Act, a measurement period which begins in the reporting period that includes the enactment of the Tax Act and ends when the entity has obtained, prepared and analyzed the information is needed in order to complete the accounting requirements. The measurement period shall not exceed one year from enactment.   In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This guidance is effective for all entities for fiscal years, and interim periods within those years, beginning after December 15, 2018, with early adoption permitted. The amendments in ASU 2018-02 should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements and related disclosures.   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 2 – Going Concern   The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had a working capital deficit of $78,508, an accumulated deficit of $1,759,743 and stockholders’ deficiency was $78,508 as of December 31, 2017. The Company did not generate cash or income from its continuing operation. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.   The company is developing new businesses in various fields. 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.

NOTE 8 – Bank Loans   Bank loans were repaid by equal monthly payment of principal and interest. Bank loans payable as of December 31, 2016 consist of following which were included in the liabilities from discontinued operation:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">December 31, 2016</td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Term</td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Int. Rate/Year</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 51%; font-size: 10pt; text-align: left; vertical-align: top">Cathay United Bank</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 12%; font-size: 10pt; text-align: right; vertical-align: top">59,791</td><td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: center"> </td><td style="width: 15%; font-size: 10pt; text-align: center">Dec 19, 2016 to Nov 18, 2017.</td><td style="width: 1%; font-size: 10pt; text-align: center"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 10%; font-size: 10pt; text-align: right; vertical-align: top">3.11</td><td style="width: 1%; font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-decoration: underline; text-align: left; vertical-align: top">Long term debt: principal amount payable within 1 year</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">First Commercial Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">45,047</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 31, 2016 to Dec 30, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">5.07</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Taiwan Business Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">56,260</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 26, 2016 to Dec 25, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.60</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Bank of Panshin</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">45,829</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 11, 2016 to Dec 10, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.67</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">107,309</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 22, 2016 to Dec 21, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.49</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top; border-bottom: Black 1pt solid">112,932</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 6, 2016 to Dec 5, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.49</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Total</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">427,168</td><td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> </table>   Long-Term portion of bank loans:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 11pt; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">December 31, 2016</td><td style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Term</td><td style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Int. Rate/Year</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 51%; text-align: left; vertical-align: top">Taiwan Business Bank Ltd.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 12%; text-align: right; vertical-align: top">129,620</td><td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">Dec 26, 2017 to Sep 25, 2020.</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 10%; text-align: right; vertical-align: top">3.60</td><td style="width: 1%; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">8,507</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 22, 2017 to Jan 21, 2018.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.49</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Bank of Panshin</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">21,107</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 11, 2017 to Jun 10, 2018.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.67</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">164,023</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 6, 2017 to Aug 5, 2019.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.49</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">First Commercial Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top; border-bottom: Black 1pt solid"> </td><td style="text-align: right; vertical-align: top; border-bottom: Black 1pt solid">110,200</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 31, 2017 to Jan 30, 2021.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">5.07</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; vertical-align: top">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">$</td><td style="font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">433,457</td><td style="font-weight: bold; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt; text-align: left; vertical-align: top"> </td></tr> </table>    There were no bank loan payable as of December 31, 2017.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">December 31, 2016</td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Term</td><td style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Int. Rate/Year</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 51%; font-size: 10pt; text-align: left; vertical-align: top">Cathay United Bank</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 12%; font-size: 10pt; text-align: right; vertical-align: top">59,791</td><td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: center"> </td><td style="width: 15%; font-size: 10pt; text-align: center">Dec 19, 2016 to Nov 18, 2017.</td><td style="width: 1%; font-size: 10pt; text-align: center"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="width: 10%; font-size: 10pt; text-align: right; vertical-align: top">3.11</td><td style="width: 1%; font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-decoration: underline; text-align: left; vertical-align: top">Long term debt: principal amount payable within 1 year</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">First Commercial Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">45,047</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 31, 2016 to Dec 30, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">5.07</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Taiwan Business Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">56,260</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 26, 2016 to Dec 25, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.60</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Bank of Panshin</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">45,829</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 11, 2016 to Dec 10, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.67</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">107,309</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 22, 2016 to Dec 21, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.49</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top; border-bottom: Black 1pt solid">112,932</td><td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt; text-align: center">Dec 6, 2016 to Dec 5, 2017.</td><td style="font-size: 10pt; text-align: center"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: right; vertical-align: top"> </td><td style="font-size: 10pt; text-align: right; vertical-align: top">3.49</td><td style="font-size: 10pt; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; vertical-align: top">Total</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">427,168</td><td style="font-size: 10pt; font-weight: bold; text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top"> </td><td style="text-align: left; vertical-align: top"> </td></tr> </table>   Long-Term portion of bank loans:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 11pt; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">December 31, 2016</td><td style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Term</td><td style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="3" style="font-size: 11pt; font-weight: bold; text-align: center; vertical-align: bottom; border-bottom: Black 1pt solid">Int. Rate/Year</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 51%; text-align: left; vertical-align: top">Taiwan Business Bank Ltd.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 12%; text-align: right; vertical-align: top">129,620</td><td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right">Dec 26, 2017 to Sep 25, 2020.</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: right; vertical-align: top"> </td><td style="width: 10%; text-align: right; vertical-align: top">3.60</td><td style="width: 1%; text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">8,507</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 22, 2017 to Jan 21, 2018.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.49</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Bank of Panshin</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">21,107</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 11, 2017 to Jun 10, 2018.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.67</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; vertical-align: top">Sunny Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">164,023</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 6, 2017 to Aug 5, 2019.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">3.49</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">First Commercial Bank Ltd.</td><td> </td> <td style="text-align: right; vertical-align: top; border-bottom: Black 1pt solid"> </td><td style="text-align: right; vertical-align: top; border-bottom: Black 1pt solid">110,200</td><td style="text-align: right; vertical-align: top"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">Dec 31, 2017 to Jan 30, 2021.</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right; vertical-align: top"> </td><td style="text-align: right; vertical-align: top">5.07</td><td style="text-align: left; vertical-align: top">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; vertical-align: top">Total</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">$</td><td style="font-weight: bold; text-align: right; vertical-align: top; border-bottom: Black 3pt double">433,457</td><td style="font-weight: bold; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt; text-align: right"> </td><td style="font-size: 11pt; text-align: left"> </td><td style="font-size: 11pt"> </td> <td style="font-size: 11pt; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt; text-align: right; vertical-align: top"> </td><td style="font-size: 11pt; text-align: left; vertical-align: top"> </td></tr> </table>

2016-12-19

2016-12-31

2016-12-26

2016-12-11

2016-12-22

2016-12-06

2017-12-26

2017-12-22

2017-12-11

2017-12-06

2017-12-31

2017-11-18

2017-12-30

2017-12-25

2017-12-10

2017-12-21

2017-12-05

2020-09-25

2018-01-21

2018-06-10

2019-08-05

2021-01-30

0.0311

0.0507

0.0360

0.0367

0.0349

0.0360

0.0349

0.0367

0.0349

0.0507

0.17

NOTE 13 –SUBSEQUENT EVENTS   The Company has evaluated the existence of significant events subsequent to the balance sheet date through the date the financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the financial statements.

427168

107309

59791

45047

56260

45829

112932

129620

8507

21107

164023

110200

433457

2000

NOTE 13 – COMMON STOCK   The Company issue the following shares of common stock during the periods indicated below:   On October 5, 2017, the Company issued 21,000 shares to two investors at five dollars per share for a purchase price of $105,000.   On December 27, 2017, the Company retired 25,503,333 shares returned from various stockholders in connection with the sale of Taiwan subsidiary, Jinchih, pursuant to the agreement with one of the Company’s directors. (See Note 4)   On April 4, 2016, the Company issued 5,000 shares to two investors with a purchase price of $4.00 per share for cash.   On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.   On May 10, 2016, the Company issued 2,000 shares to an investor with a purchase price of $4.00 per share for cash.   On May 10, 2016, the Company issued 3,000 shares to an investor with a purchase price $5.00 per share for cash.   On May 10, 2016, the Company issued 21,000 shares to an investor with a purchase price of $4.76 per share for cash.   On June 28, 2016, the Company issued 1,250 shares to an investor with a purchase price of $2.40 per share for cash.   On July 12, 2016, the Company issued 500,000 shares to a Xinyahang Electronics Co. Ltd. Taiwan, as part of the payment for technology transfer and purchase of DMS platform technology.   On July 12, 2016, the Company issued total 1,600 shares to six investors with a purchase price of $10.00 per share for cash.   On July 12, 2016, the Company issued 700 shares to an investor with a purchase price of $12.00 per share for cash.   On July 15, 2016, the Company issued 2,000 shares to consultant Kuo, Yu-chieh to offset for consulting fees payable.    On August 8, 2016, the Company issued 200 shares to an investor with a purchase price of $14.00 per share for cash.   On September 6, 2016, the Company issued 2,400 shares to an investor with a purchase price of $14.00 per share for cash.   On October 31, 2016, the Company issued 400 shares to three investors with a purchase price of $14 per share for cash.

NOTE 7 – Intangible Assets   Intangible assets include costs of technology purchased and product designed cost. Intangible assets are stated at cost, less accumulated amortization.   In the year ended December 31, 2016, the Company purchased the DMS technology from Xinyahang Gufen Youxian Gongsi (“Xinyahang”) for $128,176 and 500,000 shares of the Company’s common stock. Cash of $128,176 was paid in 2016 and 500,000 shares of common stock were valued at $0.001 per share.   On October 1, 2016, the Company entered into two-year service agreement with Xinyahang to design the device for the DMS system for $50,172.   In August 2017, the Company determined not to continue the business with the DMS system and recorded the impairment on intangible assets of $119,181 which was included in the loss from discontinued operation.   On September 30, 2017, the Company sold Jinchih to one of the Company’s officer and director (see note 4).   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; width: 51%">Intangible assets</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">—  </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 3%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">178,348</td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Less: Accumulated amortization</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">(32,206</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total:</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">146,142</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 90%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; width: 51%">Intangible assets</td><td style="font-size: 10pt; width: 2%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">—  </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 3%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%">$</td><td style="font-size: 10pt; text-align: right; width: 20%">178,348</td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Less: Accumulated amortization</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"> </td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">(32,206</td><td style="font-size: 10pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total:</td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">—  </td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 3pt double">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 3pt double">146,142</td><td style="font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> </table>

128176

500000 500000 14.00 14.00 14.00

50172

21000

542883

5000

2000

3000

21000

1250

1600

700

21000

4.00

5.00

4.76

2.40

10.00

12.00

200

2400

400

5.00

15000

1418999

87590

178348

-32206

146142

55666758

65044

2071547

2068531

15000

50044

3016

65044

2240991

169444

143552

1424331

1147190

43922

9000

268141

65000

30000

4630

143552

1857788

433457

65044

2240991

-78508

383203

58986

33504

593947

1647731

-960234

-1759743

690504

568270

58443

380485

-646232

775574

690504

1647731

593947

33504

58986

30000

185449

209347

185449

209347

-155449

-209347

96188

-251637

-209347

-251637

-209347

-547872

-104655

-799509

-314002

-761533

-399072

37976

-85070

-0.01

0.00

-0.01

-0.00

52562705

58705593

58985937

33503604

58443054

105000

104979

214005

543

213462

95000

-25503333

99822

-25503

853805

-728480

95000

-22994

-130776

-111825

-51571

-134819

-182347

-32188

-9000

4630

-18000

-15000

-2810

-165051

56608

383913

202734

214004

105000

214004

30000

2734

16224

-85070

2746

24854

33324

95000

-251637 -209347

-146126

169909

47028

3016

-2810 -165051

NOTE 4 – Discontinued Operation   On September 30, 2017, pursuant to agreements with one of our directors, Li-An Chu, the Company transferred the 100% ownership in Jinchih, to Li-An Chu in exchange for cancellation of loan payable of $379,254 to Li-An Chu and cancellation of total 25,503,333 shares of the Company’s common stock owned by a group of stockholders, including Li-An Chu. As a result of these transactions, Jinchih is no longer a wholly owned subsidiary of the Company as of September 30, 2017. Since Jinchih was sold back to Li-An Chu who is the Company’s director, CEO and CFO at the time of the transaction, no gain or loss was recorded in the statement of comprehensive loss for the year ended December 31, 2017. The net gain of $99,822 from the sale of Jinchih was included in stockholders’ equity.   The balance sheets and the results of operations of discontinued operations for the years ended December 31, 2017 and 2016 are as following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 5.4pt">Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 67%; font-size: 10pt; padding-left: 5.4pt">Cash</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">—  </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 3%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">251,416</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Short-term investments</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">403,617</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Accounts receivable, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,331,409</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 5.4pt">Inventories</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">81,058</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Other current assets</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,031</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Property, plant and equipment, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,890</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Intangible Assets, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">146,142</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Other assets</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,412</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total assets</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,237,975</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </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: White"> <td style="font-size: 10pt; padding-left: 5.4pt">Liabilities:</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-size: 10pt; text-align: left; padding-left: 5.4pt">Short-term loan</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">427,168</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Accounts payable</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">584,605</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Advances from customers</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">132,000</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Other current liabilities</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,417</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Long-term debt</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">433,457</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total liabilities</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,580,647</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table>     <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td colspan="3" style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td colspan="3" style="font-size: 11pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; padding-left: 5.4pt">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,439,841</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: 12%; text-align: right">2,666,662</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Cost of goods sold</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,827,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,307,293</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(792,542</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(307,404</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,665</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32,751</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Bad debt expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(313,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,590</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,439</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,075</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Income tax provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,204</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Loss from discontinued operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(547,872</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(104,655</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="3" style="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 5.4pt">Assets:</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: White"> <td style="width: 67%; font-size: 10pt; padding-left: 5.4pt">Cash</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">—  </td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 3%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">251,416</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Short-term investments</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">403,617</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Accounts receivable, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,331,409</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-left: 5.4pt">Inventories</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">81,058</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Other current assets</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">1,031</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Property, plant and equipment, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">8,890</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Intangible Assets, net</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">146,142</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Other assets</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,412</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total assets</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,237,975</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </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: White"> <td style="font-size: 10pt; padding-left: 5.4pt">Liabilities:</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-size: 10pt; text-align: left; padding-left: 5.4pt">Short-term loan</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">427,168</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Accounts payable</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">584,605</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Advances from customers</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">132,000</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-left: 5.4pt">Other current liabilities</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">—  </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,417</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Long-term debt</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">433,457</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total liabilities</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">—  </td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,580,647</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> </table>     <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td colspan="3" style="font-size: 11pt"> </td><td style="font-size: 11pt"> </td> <td colspan="3" style="font-size: 11pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; padding-left: 5.4pt">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,439,841</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,666,662</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Cost of goods sold</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,827,637</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,307,293</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">General and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(792,542</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(307,404</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(30,665</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(32,751</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Bad debt expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(313,430</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(87,590</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Interest income (expense), net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(23,439</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,075</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Income tax provision</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,204</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Loss from discontinued operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(547,872</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(104,655</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

NOTE 6 – Short-Term Investment   Short-term investment consists of shares of stock of non-public traded company purchased by the Company which was recorded at cost. For the year ended December 31, 2016, the Company sold 100,000 shares of stock of Xin Tianran Electric Power Co., Ltd. for TWD$10 (approximately $0.33) per share which was same as the cost per share. No gain or loss was recognized. During the year ended December 31, 2017, the Company impaired the full amount of short-term investment and recorded an impairment loss of $425,753 which was included in the loss from discontinued operation.

NOTE 9 – Note Payable   On October 1, 2017, Mr. Tee-Keat Ong, the Chairmen of the Board of Directors, and the Company entered into a loan agreement pursuant to which Mr. Tee-Keat Ong agreed to lend the Company $30,000 initially with future loan amount up to $1,000,000. On the same date, the Company issued a promissory note to Mr. Tee-Keat Ong for the principal amount of $30,000. The promissory note bears interest at five percent (5%) per annum and is due on demand. Pursuant to the terms of the note, the note is convertible into the Company’s common stock at a conversion price of $0.001 per share. The note began to accrue interest at 10% per annum when it is past due.   On October 1, 2017, the Company entered into a loan agreement with Ms. Shoou Chyn Kan, an unrelated individual. Pursuant to the loan agreement, Ms. Shoou Chyn Kan agreed to lend the Company $65,000 initially with future loan amount up to $1,000,000. On the same date, the Company issued a promissory note to Ms. Shoou Chyn Kan for the principal amount of $65,000. The promissory note bears interest at 5% per annum and is due on demand. Pursuant to the terms of the note, the note is convertible into the Company’s common stock at a conversion price of $0.001 per share. The note began to accrue interest at 10% per annum when it is past due.   Since the conversion price for above notes were lower than the quoted price of the Company’s common stock on OTC market, the beneficial conversion amount of $95,000 was recorded as interest expense in the statement of comprehensive loss for the year ended December 31, 2017.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="7" style="text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 61%">Pre-tax loss</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 15%">(251,637</td><td style="text-align: left; width: 1%">)</td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 15%">(209,347</td><td style="text-align: left; width: 1%">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">U.S. federal corporate income tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected U.S. income tax credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(88,073</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(73,271</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change of valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">88,073</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">73,271</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Effective tax expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="7" style="text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; width: 61%">Net operating losses carried forward</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 15%">356,624</td><td style="text-align: left; width: 1%"> </td><td style="width: 3%"> </td> <td style="text-align: left; width: 1%">$</td><td style="text-align: right; width: 15%">268,552</td><td style="text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(142,650</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; padding-bottom: 1pt">Less: Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(213,974</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(268,552</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Net deferred tax assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 3pt double; text-align: left">$</td><td style="border-bottom: Black 3pt double; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

Cash and cash equivalents   Cash and cash equivalents include cash on hand and deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use and with an original maturity of three months or less. The Company maintains its cash in bank deposit accounts. Cash accounts are guaranteed by the Federal Deposit Insurance Corporation up to $250,000. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on such cash.

Property and Equipment   Property and equipment are stated at cost, less accumulated depreciation and amortization. Property and equipment are depreciated using the straight-line method over the estimated useful lives of the assets. Leasehold and tenant improvements are amortized over the shorter of the lease term or the estimated useful lives of the assets. The Company periodically reviews assets’ estimated useful lives based upon actual experience and expected future utilization. A change in useful life is treated as a change in accounting estimate and is applied prospectively.   Upon retirement or disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in selling, general and administrative expenses for that period. Major additions and betterments are capitalized to the asset accounts while maintenance and repairs, which do not improve or extend the lives of assets, are expensed as incurred.

Investments in Non-consolidated Entities   Investments in non-consolidated entities are accounted for using the equity method or cost basis depending upon the level of ownership and/or the Company's ability to exercise significant influence over the operating and financial policies of the investee. When the equity method is used, investments are recorded at original cost and adjusted periodically to recognize the Company's proportionate share of the investees' net income or losses after the date of investment. When net losses from an investment are accounted for under the equity method exceed its carrying amount, the investment balance is reduced to zero and additional losses are not provided for. The Company resumes accounting for the investment under the equity method if the entity subsequently reports net income and the Company's share of that net income exceeds the share of net losses not recognized during the period the equity method was suspended. Investments are written down only when there is clear evidence that a decline in value that is other than temporary has occurred.

Convertible Instruments   The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. The Company accounts for convertible instruments (when it has been determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: The Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Jun. 15, 2018	Jun. 30, 2017
Document And Entity Information
Entity Registrant Name	Sino United Worldwide Consolidated Ltd.
Entity Central Index Key	0001394108
Document Type	10-K
Document Period End Date	Dec. 31, 2017
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?	No
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 55,666,758
Entity Common Stock, Shares Outstanding		33,503,604
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2017

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Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current Assets
Cash	$ 50,044	$ 3,016
Accounts receivable	15,000
Current assets of discontinued operation		2,068,531
Total Current Assets	65,044	2,071,547
Other assets of discontinued operation		169,444
Total Assets	65,044	2,240,991
Current Liabilities
Credit card payable	4,630
Convertible promissory note - related party	30,000
Convertible promissory note - other	65,000
Due to related parties		268,141
Accrued expenses and other current liabilities	43,922	9,000
Current liabilities of discontinued operation		1,147,190
Total Current Liabilities	143,552	1,424,331
Long term liabilities of discontinued operation		433,457
Total Liabilities	143,552	1,857,788
COMMITMENTS AND CONTINGENCIES
Stockholders' Equity (Deficiency)
Common stock, $0.001 par value, 394,500,000 shares authorized; 33,503,604 and 58,985,937 shares issued and outstanding at December 31, 2017 and 2016, respectively	33,504	58,986
Additional paid-in capital	1,647,731	593,947
Accumulated deficit	(1,759,743)	(960,234)
Accumulated other comprehensive income		690,504
Total Stockholders' Equity (Deficiency)	(78,508)	383,203
Total Liabilities and Stockholders' Equity (Deficiency)	$ 65,044	$ 2,240,991

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Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	394,500,000	394,500,000
Common stock, shares issued	33,503,604	58,985,937
Common stock, shares outstanding	33,503,604	58,985,937

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Consolidated Statements of Comprehensive Loss - USD ($)	12 Months Ended
Consolidated Statements of Comprehensive Loss - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenue	$ 30,000
Operating expenses
General and administrative	185,449	209,347
Total operating expenses	185,449	209,347
Loss from operations	(155,449)	(209,347)
Other expenses:
Interest expense - Related Party	(30,375)
Interest expense - Other	(65,813)
Total other expense	(96,188)
Loss from continuing operations before income tax	(251,637)	(209,347)
Loss from continuing operations	(251,637)	(209,347)
Discontinued operations
Loss from discontinued operations, net of tax	(547,872)	(104,655)
Net loss	(799,509)	(314,002)
Other comprehensive income (loss)
Foreign currency translation adjustment	37,976	(85,070)
Comprehensive loss	$ (761,533)	$ (399,072)
Loss per share
Basic and Diluted - continuing operation	$ (0.00)	$ (0.00)
Basic and Diluted - discontinued operation	(0.01)	(0.00)
Basic and Diluted - Total	$ (0.01)	$ 0.00
Weighted Average Common Shares Outstanding - basic and diluted	52,562,705	58,705,593

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Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($)	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Foreign Currency Translation Gain	Total
Beginning balance, shares at Dec. 31, 2015	58,443,054
Beginning balance, amount at Dec. 31, 2015	$ 58,443	$ 380,485	$ (646,232)	$ 775,574	$ 568,270
Issuance of common stock for cash, shares	542,883
Issuance of common stock for cash, amount	$ 543	213,462			214,005
Net loss			(314,002)		(314,002)
Foreign currency translation adjustment				(85,070)	(85,070)
Ending balance, shares at Dec. 31, 2016	58,985,937
Ending balance, amount at Dec. 31, 2016	$ 58,986	593,947	(960,234)	690,504	383,203
Beneficial conversion feature for convertible notes		95,000			95,000
Issuance of common stock for cash, shares	21,000
Issuance of common stock for cash, amount	$ 21	104,979			105,000
Net loss			(799,509)		(799,509)
Foreign currency translation adjustment				37,976	37,976
Sold off a subsidiary, shares	(25,503,333)
Sold off a subsidiary, amount	$ (25,503)	853,805		(728,480)	99,822
Ending balance, shares at Dec. 31, 2017	33,503,604
Ending balance, amount at Dec. 31, 2017	$ 33,504	$ 1,647,731	$ (1,759,743)		$ (78,508)

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Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	$ (799,509)	$ (314,002)
Net loss from discontinued operation	(547,872)	(104,655)
Net loss from continuing operation	(251,637)	(209,347)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash interest	95,000
Changes in operating assets and liabilities
Accounts receivables	(15,000)
Accounts payables		18,000
Credit card payable	4,630
Accrued expenses	32,188	9,000
Net cash used in continuing operation	(134,819)	(182,347)
Net cash provided by discontinued operation	111,825	51,571
Net cash used in operating activities	(22,994)	(130,776)
CASH FLOW FROM INVESTING ACTIVITIES
Net cash used in continuing operation
Net cash used in discontinued operation	(2,810)	(165,051)
Net cash used in investing activities	(2,810)	(165,051)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from non-related party loan	2,734
Proceeds from convertible promissory note - related party	30,000
Proceeds from convertible promissory note - non-related party	65,000
Proceeds from issuance of common stock	105,000	214,004
Net cash provided by continuing operation	202,734	214,004
Net cash provided by (used in) discontinued operation	(146,126)	169,909
Net cash provided by financing activities	56,608	383,913
Effect of exchange rate changes on cash	16,224	(85,070)
INCREASE IN CASH	47,028	3,016
Cash - beginning of year	3,016
Cash - ending of year	50,044	3,016
Supplement disclosure information
Cash paid for interest	24,854	33,324
Cash paid for income taxes	2,746
Non-cash financing activities:
Debt discount incurred from beneficial conversion feature	95,000
Due to related parties balances were settled by sale of subsidiary	$ 379,254

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Organization and Basis of presentation

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of presentation

Note 1 – Organization and Basis of presentation

Organization

Basis of presentation and consolidation

Certain amounts in last year’s financial statements have been reclassified to conform to current year presentation.

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Going Concern

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

Note 2 – Going Concern

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 3 – Summary of Significant Accounting Policies

Use of Estimates

Cash and cash equivalents

Accounts Receivable and Allowance for Doubtful Accounts

For the years ended December 31, 2017 and 2016, the Company recorded bad debt expense of $313,430 and $87,590, respectively, which were included in the loss from discontinued operations.

Inventories

Revenue Recognition

Property and Equipment

Investments in Non-consolidated Entities

Fair Value of Financial Instruments

	•	Level one - Quoted market prices in active markets for identical assets or liabilities;

	•	Level two - Inputs other than level one inputs that are either directly or indirectly observable; and

	•	Level three - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.

There are no financial instruments measured at fair value on a recurring basis.

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.

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815, Derivatives and Hedging Activities.

Income Taxes

Net Loss per Share

Translation Adjustment

Average Rate for the year	December 31, 2016		December 31, 2017
Taiwan dollar (TWD)		1		1
United States dollar ($)		0.03105		0.033

Exchange Rate at		December 31, 2016		December 31, 2017
Taiwan dollar (TWD)		1		1
United States dollar ($)		0.03098		0.033

Comprehensive Income (Loss)

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

Recently Issued Accounting Pronouncements

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.

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Discontinued Operation

12 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operation

NOTE 4 – Discontinued Operation

The balance sheets and the results of operations of discontinued operations for the years ended December 31, 2017 and 2016 are as following:

	2017		2016
Assets:
Cash	$	—	$	251,416
Short-term investments		—		403,617
Accounts receivable, net		—		1,331,409
Inventories		—		81,058
Other current assets		—		1,031
Property, plant and equipment, net		—		8,890
Intangible Assets, net		—		146,142
Other assets		—		14,412
Total assets	$	—	$	2,237,975

Liabilities:
Short-term loan		—		427,168
Accounts payable		—		584,605
Advances from customers		—		132,000
Other current liabilities		—		3,417
Long-term debt		—		433,457
Total liabilities	$	—	$	1,580,647

	2017			2016

Revenue	$	2,439,841		$	2,666,662
Cost of goods sold		(1,827,637	)		(2,307,293	)
General and administrative expenses		(792,542	)		(307,404	)
Depreciation and amortization		(30,665	)		(32,751	)
Bad debt expense		(313,430	)		(87,590	)
Interest income (expense), net		(23,439	)		(33,075	)
Income tax provision		—			(3,204	)
Loss from discontinued operations	$	(547,872	)	$	(104,655	)

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Accounts Receivable

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Accounts Receivable

NOTE 5 – Accounts Receivable

Accounts receivable at December 31, 2017 and 2016 consisted of the following:

	December 31, 2017		December 31, 2016
Continuing operations:
Accounts receivable	$	15,000	$	—
Less: Allowance for doubtful accounts		—		—
	$	15,000	$	—

	December 31, 2017		December 31, 2016
Discontinued operations:
Accounts receivable	$	—	$	1,418,999
Less: Allowance for doubtful accounts		—		(87,590)
	$	—	$	1,331,409

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

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Short-Term Investment

12 Months Ended

Dec. 31, 2017

Cash, Cash Equivalents, and Short-term Investments [Abstract]

Short-Term Investment

NOTE 6 – Short-Term Investment

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Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 7 – Intangible Assets

Intangible assets include costs of technology purchased and product designed cost. Intangible assets are stated at cost, less accumulated amortization.

On October 1, 2016, the Company entered into two-year service agreement with Xinyahang to design the device for the DMS system for $50,172.

On September 30, 2017, the Company sold Jinchih to one of the Company’s officer and director (see note 4).

	December 31, 2017		December 31, 2016
Intangible assets	$	—	$	178,348
Less: Accumulated amortization		—		(32,206	)
Total:	$	—	$	146,142

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Bank Loans

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Bank Loans

NOTE 8 – Bank Loans

	December 31, 2016		Term		Int. Rate/Year
Cathay United Bank		59,791		Dec 19, 2016 to Nov 18, 2017.		3.11	%

Long term debt: principal amount payable within 1 year

First Commercial Bank Ltd.		45,047		Dec 31, 2016 to Dec 30, 2017.		5.07	%

Taiwan Business Bank Ltd.		56,260		Dec 26, 2016 to Dec 25, 2017.		3.60	%

Bank of Panshin		45,829		Dec 11, 2016 to Dec 10, 2017.		3.67	%

Sunny Bank Ltd.		107,309		Dec 22, 2016 to Dec 21, 2017.		3.49	%

Sunny Bank Ltd.		112,932		Dec 6, 2016 to Dec 5, 2017.		3.49	%
Total	$	427,168

Long-Term portion of bank loans:

	December 31, 2016		Term		Int. Rate/Year
Taiwan Business Bank Ltd.		129,620		Dec 26, 2017 to Sep 25, 2020.		3.60	%
Sunny Bank Ltd.		8,507		Dec 22, 2017 to Jan 21, 2018.		3.49	%
Bank of Panshin		21,107		Dec 11, 2017 to Jun 10, 2018.		3.67	%
Sunny Bank Ltd.		164,023		Dec 6, 2017 to Aug 5, 2019.		3.49	%
First Commercial Bank Ltd.		110,200		Dec 31, 2017 to Jan 30, 2021.		5.07	%
Total	$	433,457

There were no bank loan payable as of December 31, 2017.

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Convertible Promissory Note

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Convertible Promissory Note

NOTE 9 – Note Payable

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Related Party Transactions and Balances

12 Months Ended

Dec. 31, 2017

Related Party Transactions and Balances

NOTE 10 – Related Party Transactions and Balances

On May 10, 2016, the Company issued 3,333 shares to director Chu,Li-An, in exchange for cancellation of debt.

During the year ended December 31, 2017, the Company sold its wholly owned subsidiary, Jinchih, to one of its directors, Li-An Chu. (See Note 4)

During the year ended December 31, 2017, the Company entered a loan agreement and issued a promissory note to the Chairman of Board of Directors. (See Note 9)

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INCOME TAXES

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 11 – INCOME TAXES

A reconciliation of the provision for income taxes to the Company’s effective income tax rate for continuing operation is as follows:

	Years Ended December 31,
	2017			2016
Pre-tax loss	$	(251,637	)	$	(209,347	)
U.S. federal corporate income tax rate		35	%		35	%
Expected U.S. income tax credit		(88,073	)		(73,271	)
Change of valuation allowance		88,073			73,271
Effective tax expense	$	—		$	—

The Company had deferred tax assets as follows:

	Years Ended December 31,
	2017			2016
Net operating losses carried forward	$	356,624		$	268,552
Effect of rate change		(142,650	)		—
Less: Valuation allowance		(213,974	)		(268,552	)
Net deferred tax assets	$	—		$	—

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COMMON STOCK

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

COMMON STOCK

NOTE 13 – COMMON STOCK