10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended September 30, 2017

[   ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from ________ to ________

Commission file number: 000-53845

THERON RESOURCE GROUP
(Exact name of small business issuer in its charter)

Wyoming	26-0665325
(State or other jurisdiction of incorporation or	(I.R.S. Employer Identification No.)
organization)
23 Yihe Road, Luozhuang District
Linyi City, Shandong, P.R.C.	276000
(Address of principal executive offices)	(Zip Code)

Issuer’s telephone number: (86) 21 6010 1269

Securities Registered Under Section 12(b) of the Exchange Act: None

Securities Registered Under Section 12(g) of the Exchange Act:

Common Stock, $0.001 par value
(Title of class)

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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes [   ]        No [   ]

Indicate by check mark whether the registrant is a large accelerated filer, a non-accelerated filer or a smaller reporting Corporation.

Large accelerated filer                [   ]	Accelerated filer                        [   ]
Non-accelerated filer                  [   ]	Smaller reporting Corporation [X]
(Do not check if a smaller reporting company)	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 Corporation (as defined in Rule 12b-2 of the Exchange Act).
Yes [X]        No [   ]

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
7,900,000 shares of Common Stock as of November 13, 2017.

THERON RESOURCE GROUP

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION	4
Item 1	FINANCIAL STATEMENTS	4
	Balance Sheets as of September 30, 2017 (Unaudited) and December 31, 2016	4
	Unaudited Statements of Operations and Other Comprehensive Loss for the Three Months and Nine Months ended September 30, 2017 and 2016	5
	Unaudited Statements of Cash Flows for the Nine Months ended September 30, 2017 and 2016	6
	Notes to Financial Statements	7
Item 2	MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS	11
Item 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	13
Item 4	CONTROLS AND PROCEDURES	13
PART II	OTHER INFORMATION	14
Item 6	EXHIBITS	14
	SIGNATURES	15

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PART I FINANCIAL INFORMATION

ITEM 1.        FINANCIAL STATEMENTS

Theron Resource Group
Balance Sheets
As of September 30, 2017 and December 31, 2016
(Unaudited)
(Stated in U.S. Dollars)

		September 30,			December 31,
		2017			2016
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY		(Unaudited)
Current liabilities
Accounts payable and accrued expenses	$	295		$	11,795
Promissory note payable – in default		50,000			50,000
Interest due on promissory note payable		16,457			14,582
Advance from a related company		71,497			11,652
Total current liabilities		138,249			88,029
Stockholders’ deficiency
Common stock, $0.001 par value, 500,000,000 shares authorized, 7,900,000 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively		7,900			7,900
Additional paid-in capital		430,574			430,574
Accumulated other comprehensive loss		(222	)		(222	)
Accumulated deficit		(576,501	)		(526,281	)
Total stockholders’ deficiency		(138,249	)		(88,029	)
Total liabilities and stockholders’ deficiency	$	-		$	-

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

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Theron Resource Group
Statements of Operations and Other Comprehensive Loss
(Unaudited)
(Stated in U.S. Dollars)

		Three Months ended September 30,						Nine Months ended September 30,
		2017			2016			2017			2016
Revenue	$	-		$	-		$	-		$	-
General and administrative expenses		(23,224	)		(11,652	)		(48,345	)		(72,685	)
Loss from operations		(23,224	)		(11,652	)		(48,345	)		(72,685	)
Other income		-			-			-			3,400
Interest expense		(625	)		(625	)		(1,875	)		(1,875	)
Net loss		(23,849	)		(12,277	)		(50,220	)		(71,160	)
Other comprehensive loss
Currency exchange loss		-			-			-			-
Comprehensive loss	$	(23,849	)	$	(12,277	)	$	(50,220	)	$	(71,160	)
Basic and diluted loss per common share	$	**		$	**		$	**		$	**
Weighted average number of common shares used in per share calculations		7,900,000			7,900,000			7,900,000			7,900,000

** less than $0.01

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

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Theron Resource Group
Statements of Cash Flows
(Unaudited)
(Stated in U.S. Dollars)

		Nine Months ended September 30,
		2017			2016
Cash flows used from operating activities
Net loss	$	(50,220	)	$	(71,160	)
Changes in operating assets and liabilities
Decrease in accounts payable and accrued expenses		(11,500	)		(3,930	)
Increase in interest accrued on promissory note payable		1,875			1,875
Cash flows used in operating activities		(59,845	)		(73,215	)
Cash flows from financing activities
Advances from a stockholder		-			73,215
Advances from a related company		59,845			-
Cash flows provided by financing activities		59,845			73,215
Decrease in cash and cash equivalents		-			-
Cash and cash equivalents – Beginning of period		-			-
Cash and cash equivalents – End of period	$	-		$	-
Supplementary information
Income tax paid	$	-		$	-
Interest paid		-			-

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

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Theron Resource Group
Notes to Financial Statements
As of and for the three months and nine months ended September 30, 2017
and for the year ended December 31, 2016
(Stated in U.S. Dollars)

1.         NATURE OF OPERATIONS

Theron Resource Group (the "Company", "Theron", or "THRO") was incorporated in the State of Wyoming on April 11, 2006. There have been no material reclassifications, mergers, consolidations or purchases or sales of any significant amount of assets not in the ordinary course of business since the date of incorporation. The Company has not yet commenced any revenue-generating operations, does not have any cash flows from operations, and is dependent on debt and equity funding to finance its operations.

2.         BASIS OF PRESENTATION AND GOING CONCERN

Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The financial statements of the Company as of and for the three months and nine months ended September 30, 2017 and 2016 are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) have been made that are necessary to present fairly the financial position of the Company as of September 30, 2017, the results of its operations for the three months and nine months ended September 30, 2017 and 2016, and its cash flows for the nine months ended September 30, 2017 and 2016. Operating results for the interim periods presented are not necessarily indicative of the results to be expected for a full fiscal year. The balance sheet at December 31, 2016 has been derived from the Company's audited financial statements included in the Form 10-K for the year ended December 31, 2016.

The statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and other information included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC.

Going Concern

The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2017, we have an accumulated deficit of $576,501 and a stockholders’ deficiency of $138,249. We have incurred recurring losses from operations, and utilized cash flow in operating activities of $59,845 during the nine months ended September 30, 2017. These factors, among others, raise substantial doubt about our ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2016 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern.

Management’s plan to support the Company in operations and to maintain its business strategy is to raise funds through public offerings, to effect a merger or acquisition with an operating company and to rely on officers and directors to perform essential functions with minimal compensation. If we do not raise sufficient capital from public offerings or effect any merger or acquisition, we will have to find alternative sources, such as a private placement of securities or loans or advances from our officers, directors or others. Such additional financing may not become available on acceptable terms and there can be no assurance that any additional financing that the Company does obtain will be sufficient to meet its needs in the long term. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in the case of equity financing. If we require additional cash and cannot raise it, we will either have to suspend operations or cease business entirely.

The accompanying financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

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3.         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Fair Value of Financial Instruments

Effective January 1, 2008, fair value measurements are determined by our adoption of authoritative guidance issued by the Financial Accounting Standards Board ("FASB"), with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption of the authoritative guidance did not have a material impact on our fair value measurements. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.

Level 3—Unobservable inputs based on our assumptions.

We are required to use observable market data if such data is available without undue cost and effort.

At September 30, 2017 and December 31, 2016, the fair values of accounts payable approximate their carrying values.

Comprehensive Income

Comprehensive income consists of net income and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net income. There was no recorded comprehensive income or loss for both the three months and nine months ended September 30, 2017 and 2016.

Use of Estimates

In preparing financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses in the statement of operations. Actual results may differ from those estimates.

Basic and Diluted Net Loss Per Share

Our computation of earnings per share ("EPS") includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income (loss) of the Company as if they had been converted at the beginning of the periods presented, or issuance date, if later. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted (loss) per common share is the same for periods in which the company reported an operating loss because all warrants and stock options outstanding are anti-dilutive.

There were no adjustments to net loss required for purposes of computing dilutive earnings per share.

For the three months and nine months ended September 30, 2017 and 2016, there were no potential dilutive securities.

8

Recently Issued Accounting Pronouncements

On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230)” (the “Update”). Prior to the Update, there was diversity in practice in how certain cash receipts and cash payments were presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. The Update addressed eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in the Update will become effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity elects early adoption of the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that include that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

Other accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

4.         RELATED PARTY TRANSACTIONS

During the nine months ended September 30, 2017 and 2016, Linyi Yi Cheng Cultural Innovative Industry Zone Management Limited, a related company of the Company, in which Mr. Zhaoyu Gu, a director of the Company, has a beneficial interest, provided net advances of $59,845 and $0, respectively, to finance the Company’s working capital requirements.

Advances from a related company are unsecured, due on demand, and non-interest bearing. The outstanding advances from a related company totaled $71,497 and $11,652 as of September 30, 2017 and December 31, 2016, respectively.

There was no additional advance from the Company’s stockholder during the nine months ended September 30, 2017. During the nine months ended September 30, 2016, the Company’s stockholders provided net advances of $73,215 to finance the Company’s working capital requirements.

Advances from a stockholder are unsecured, due on demand, and non-interest bearing. There were no outstanding advances from a stockholder as of September 30, 2017 and December 31, 2016. On May 23, 2016 the outstanding advances from a stockholder totaling $334,756 were waived in full (Please see Note 6).

During the three months and nine months ended September 30, 2017 and 2016, the Company’s office facility has been provided without charge by the Company’s major stockholder. Such cost was not material to the financial statements and accordingly, has not been reflected therein. In view of the Company’s limited operations and resources, the major stockholder did not receive any compensation from the Company during the three months and nine months ended September 30, 2017 and 2016.

5.         PROMISSORY NOTE PAYABLE – IN DEFAULT

On March 3, 2011, the Company obtained a $50,000 loan from an unrelated party as evidenced by a promissory note (the “Promissory Note”). The loan, which is unsecured and bears interest at 5% per annum, matured on March 3, 2012. The funds were used to repay all outstanding stockholder loans and accounts payable and to provide working capital through November 30, 2012.

In connection with the share purchase described under Note 6 herein, Horizon Investment Club Limited (“Horizon”) entered into a Deed of Waiver and Assumption of Debt (the “Waiver”) with the Company pursuant to which Horizon and the Company agreed and confirmed that the Company novates and transfers to Horizon all its obligations and liabilities under the Promissory Note including all principal amount, accrued interests, or default interests arising thereunder and such other liabilities accrued or incurred by the Company prior to the closing of the share purchase on July 2, 2016.

However, the assignment of the Promissory Note has not been consented by the creditor because the Company’s efforts to contact the creditor have not been successful. Therefore, the Company may still be liable until the earlier of (i) the loan is paid off, (ii) the creditor consents to the Waiver or (iii) the statute of limitation on the Promissory Note expires on March 3, 2022. Therefore, the Promissory Note is currently deemed to be in default despite the Waiver.

9

During the three months and nine months ended September 30, 2017, the Company accrued $625 and $1,875 in interest payable under the note, respectively, as compared to $625 and $1,875 for the three months and nine months ended September 30, 2016.

6.         STOCKHOLDER CONTRIBUTION

Horizon entered into an agreement dated May 23, 2016 with the Company to waive the Company’s balance of $307,818 due to Horizon. On May 23, 2016, Horizon further consented to waive a sum of $26,938 receivable from the Company. Horizon was the Company’s major stockholder and on May 23, 2016 it entered into a share purchase agreement to sell all its shares of the Company to Red Point Holdings L.P., an Exempted Limited Partnership registered in the Cayman Islands. A gain from extinguishment of these liabilities of $334,756 was recorded as capital contribution in equity.

10

ITEM 2.         MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. Some discussions in this report may contain forward-looking statements that involve risk and uncertainty. A number of important factors could cause our actual results to differ materially from those expressed in any forward-looking statements made by us in this report. Forward-looking statements are often identified by words like: “believe,” “expect,” “estimate,” “anticipate,” “intend,” “project,” “goal,” “seek,” “strategy,” “future,” “likely,” and similar expressions or words which, by their nature, refer to future events.

In some cases, you can also identify forward-looking statements by terminology such as “may,” “will,” “should,” “plans,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from future results, levels of activity, performance or achievements stated or implied by these statements.

As used in this quarterly report, the terms “we,” “us,” “our,” “Theron” and “THRO” mean Theron Resource Group, unless otherwise indicated.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our financial statements are stated in United States Dollars (“USD” or “US$” or “$”) and are prepared in accordance with United States Generally Accepted Accounting Principles. All references to “common shares” refer to the common shares in our capital stock.

Overview

We were incorporated in the State of Wyoming on April 11, 2006 as Theron Resource Group. There have been no material reclassifications, mergers, consolidations or purchases or sales of any significant amount of assets not in the ordinary course of business since the date of incorporation.

RESULTS OF OPERATIONS

REVENUE

No revenue was generated for the three months and nine months ended September 30, 2017 and 2016.

GENERAL AND ADMINISTRATIVE EXPENSES

General and administrative expenses amounted to $23,224 and $11,652 for the three months ended September 30, 2017 and 2016, respectively; and $48,345 and $72,685 for the nine months ended September 30, 2017 and 2016, respectively. The Company’s general and administrative expenses mainly represent professional fees incurred for its SEC filings.

OTHER INCOME

Other income for the nine months ended September 30, 2016 represents a reverse of overprovision for expenses.

INTEREST EXPENSE

Interest expense for both the three months ended September 30, 2017 and 2016 amounted to $625, and for both the nine months ended September 30, 2017 and 2016 amounted to $1,875. Interest expense for these periods is attributable to the $50,000 unsecured promissory note we issued in March 2011 with an annual interest of 5%.

INCOME TAX PROVISION

As a result of operating losses, there has been no provision for the payment of income taxes to date in 2017.

11

NET LOSS

For the three months and nine months ended September 30, 2017, the net losses were $23,849 and $50,220, compared to net losses of $12,277 and $71,160 for the similar periods last year. The losses per share were $0.00 to each period for the three months ended September 30, 2017 and 2016, and the losses per share for the nine months ended September 30, 2017 and 2016 were $0.01 and $0.01, respectively. The loss per share was based on a weighted average of 7,900,000 common shares outstanding at September 30, 2017 and 2016.

The Company continues to carefully control its expenses and overall costs as it moves its business development plan forward.

PLAN OF OPERATION

As of September 30, 2017, we had a stockholders’ deficiency of $138,249.

We have not generated any revenues and have relied on shareholder advances and debt and equity offerings to finance our operating and capital expenses. We have incurred operating losses since inception. The working capital requirements of any new business we may acquire may be substantial and may depend on the terms of our potential acquisitions, whether for stock, debt or cash, or a combination, as appropriate.

Due to the uncertainty of our ability to meet our current operating and capital expenses, in their annual report on the financial statements for the year ended December 31, 2016, our independent auditors included an explanatory paragraph regarding substantial doubt about our ability to continue as a going concern. Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors. Our issuance of additional equity securities could result in a significant dilution in the equity interests of our current stockholders. Obtaining commercial loans, assuming those loans would be available, will increase our liabilities and future cash commitments.

There are no assurances that we will be able to obtain additional funds required for continued operations. We are pursuing various financing alternatives to meet immediate and long-term financial requirements, but results to date have not been encouraging. We also seek to effect an acquisition or merger with an operating company. However, there can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms and no assurance can be given on any acquisition or merger. If we are not able to obtain the additional financing on a timely basis, we will not be able to meet our obligations as they become due.

LIQUIDITY AND CAPITAL RESOURCES

As of the three months and nine months ended on September 30, 2017, we have yet to generate any revenues from operations.

The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2017, we have an accumulated deficit of $576,501 and a stockholders’ deficiency of $138,249. We have incurred recurring losses from operations, and utilized cash flow in operating activities of $59,845 during the nine months ended September 30, 2017. These factors, among others, raise substantial doubt about our ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2016 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern.

Since our inception in April 2006, we have used our common stock, promissory notes and loans or advances from our officers, directors and stockholders to raise money for our optioned acquisition and for corporate expenses. We issued 6,000,000 shares of common stock through a Section 4(2) offering in October 2006 for cash consideration of $6,000. We issued 900,000 shares of common stock through a Regulation D offering in November 2006 for cash consideration of $9,000 to a total of three subscribers. During May 2009, $50,000 cash was provided by financing activities as the result of the sale of 1,000,000 shares of common stock at a price of $0.05 per share issued under our SB-2 registration statement to a total of 44 subscribers.

As of September 30, 2017, the Company had a note payable of $50,000 plus accrued interest of $16,457. The note is unsecured and bears interest at a rate of 5% per annum. The note matured on March 3, 2012 and is currently in default.

12

As of September 30, 2017, we had no assets and our total liabilities were $138,249, mainly consisting of a promissory note payable of $50,000 and interest due thereon of $16,457, and advances from a related company of $71,497. We had a working capital deficit of $138,249.

NET CASH USED IN OPERATING ACTIVITIES: For the nine months ended September 30, 2017 and 2016, $59,845 and $73,215 in net cash was used, respectively.

CASH FLOWS FROM FINANCING ACTIVITIES – For the nine months ended September 30, 2017 and 2016, we received advances from a related company of $59,845 and $0, respectively, and advances from a stockholder of $0 and $73,215 respectively. There was no cash provided by equity financing activities during the nine months ended September 30, 2017 and 2016. No options or warrants were issued in the most recent period to purchase shares in a later date.

OFF-BALANCE SHEET ARRANGEMENTS

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

ITEM 3.         QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

ITEM 4.         CONTROLS AND PROCEDURES

(a)	Evaluation of Disclosure Controls and Procedures.
	We maintain disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. Our President, who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report and he determined that our disclosure controls and procedures were ineffective due to a control deficiency. During the period we did not have additional personnel to allow segregation of duties to ensure the completeness or accuracy of our information. Due to the size and operations of the Company, we are unable to remediate this deficiency until we acquire or merge with another company.
	Our management, including our principal executive officer and principal financial officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all errors or fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. Accordingly, management believes that the financial statements included in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented.
(b)	Changes in Internal Control Over Financial Reporting
	During the three months ended September 30, 2017, there were no changes in the Company's internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.

13

PART II – OTHER INFORMATION

ITEM 6.         EXHIBITS

Exhibits
31.1	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase
101.LAB	XBRL Taxonomy Extension label Linkbase

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SIGNATURES

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

THERON RESOURCE GROUP

Date: November 14, 2017

BY:	/s/ Zhaoyu Gu
	Zhaoyu Gu
	Chief Executive Officer and Chief Financial Officer
	(Principal Executive Officer, Principal Financial
	Officer and Principal Accounting Officer)

15

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

I, Zhaoyu Gu, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Theron Resource Group;
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.	I am 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 my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 my 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 my 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 an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my 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.

Date: November 14, 2017

/s/ Zhaoyu Gu                                          

Zhaoyu Gu

Chief Executive Officer

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

I, Zhaoyu Gu, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Theron Resource Group;
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.	I am 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 my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 my 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 my 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 an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. I have disclosed, based on my 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.

Date: November 14, 2017

/s/ Zhaoyu Gu

Zhaoyu Gu

Chief Financial Officer

(Principal Financial Officer and Principal

Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Theron Resource Group (the “Company”) for the period ended September 30, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Zhaoyu Gu, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1.	The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 14, 2017

/s/ Zhaoyu Gu                                                                 

Zhaoyu Gu

Chief Executive Officer and Chief Financial Officer

(Principal Executive Officer, Principal Financial Officer

and Principal Accounting Officer)

This certification accompanies each Report pursuant to § 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of §18 of the Securities Exchange Act of 1934, as amended.

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

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 13, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Trading Symbol	thro
Entity Registrant Name	Theron Resource Group
Entity Central Index Key	0001409431
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,900,000
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3

XML

Balance Sheets - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current liabilities
Accounts payable and accrued expenses	$ 295	$ 11,795
Promissory note payable - in default	50,000	50,000
Interest due on promissory note payable	16,457	14,582
Advance from a related company	71,497	11,652
Total current liabilities	138,249	88,029
Stockholders' deficiency
Common stock, $0.001 par value, 500,000,000 shares authorized, 7,900,000 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	7,900	7,900
Additional paid-in capital	430,574	430,574
Accumulated other comprehensive loss	(222)	(222)
Accumulated deficit	(576,501)	(526,281)
Total stockholders' deficiency	(138,249)	(88,029)
Total liabilities and stockholders' deficiency	$ 0	$ 0

XML

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares, issued	7,900,000	7,900,000
Common stock, shares, outstanding	7,900,000	7,900,000

XML

Statements of Operations and Other Comprehensive Loss - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue		$ 0	$ 0	$ 0	$ 0
General and administrative expenses		(23,224)	(11,652)	(48,345)	(72,685)
Loss from operations		(23,224)	(11,652)	(48,345)	(72,685)
Other income		0	0	0	3,400
Interest expense		(625)	(625)	(1,875)	(1,875)
Net loss		(23,849)	(12,277)	(50,220)	(71,160)
Other comprehensive loss
Currency exchange loss		0	0	0	0
Comprehensive loss		$ (23,849)	$ (12,277)	$ (50,220)	$ (71,160)
Basic and diluted loss per common share	[1]
Weighted average number of common shares used in per share calculations		7,900,000	7,900,000	7,900,000	7,900,000

[1] ** less than $0.01

XML

Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows used from operating activities
Net loss	$ (50,220)	$ (71,160)
Changes in operating assets and liabilities
Decrease in accounts payable and accrued expenses	(11,500)	(3,930)
Increase in interest accrued on promissory note payable	1,875	1,875
Cash flows used in operating activities	(59,845)	(73,215)
Cash flows from financing activities
Advances from a stockholder	0	73,215
Advances from a related company	59,845	0
Cash flows provided by financing activities	59,845	73,215
Decrease in cash and cash equivalents	0	0
Cash and cash equivalents - Beginning of period	0	0
Cash and cash equivalents - End of period	0	0
Supplementary information
Income tax paid	0	0
Interest paid	$ 0	$ 0

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NATURE OF OPERATIONS

9 Months Ended

Sep. 30, 2017

NATURE OF OPERATIONS [Text Block]

1.         NATURE OF OPERATIONS

Theron Resource Group (the "Company", "Theron", or "THRO") was incorporated in the State of Wyoming on April 11, 2006. There have been no material reclassifications, mergers, consolidations or purchases or sales of any significant amount of assets not in the ordinary course of business since the date of incorporation. The Company has not yet commenced any revenue-generating operations, does not have any cash flows from operations, and is dependent on debt and equity funding to finance its operations.

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BASIS OF PRESENTATION AND GOING CONCERN

9 Months Ended

Sep. 30, 2017

BASIS OF PRESENTATION AND GOING CONCERN [Text Block]

2.         BASIS OF PRESENTATION AND GOING CONCERN

Basis of Presentation

The financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The financial statements of the Company as of and for the three months and nine months ended September 30, 2017 and 2016 are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) have been made that are necessary to present fairly the financial position of the Company as of September 30, 2017, the results of its operations for the three months and nine months ended September 30, 2017 and 2016, and its cash flows for the nine months ended September 30, 2017 and 2016. Operating results for the interim periods presented are not necessarily indicative of the results to be expected for a full fiscal year. The balance sheet at December 31, 2016 has been derived from the Company's audited financial statements included in the Form 10-K for the year ended December 31, 2016.

The statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the financial statements and other information included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC.

Going Concern

The accompanying financial statements have been prepared under the assumption that we will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. As of September 30, 2017, we have an accumulated deficit of $576,501 and a stockholders’ deficiency of $138,249. We have incurred recurring losses from operations, and utilized cash flow in operating activities of $59,845 during the nine months ended September 30, 2017. These factors, among others, raise substantial doubt about our ability to continue as a going concern. In addition, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2016 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern.

Management’s plan to support the Company in operations and to maintain its business strategy is to raise funds through public offerings, to effect a merger or acquisition with an operating company and to rely on officers and directors to perform essential functions with minimal compensation. If we do not raise sufficient capital from public offerings or effect any merger or acquisition, we will have to find alternative sources, such as a private placement of securities or loans or advances from our officers, directors or others. Such additional financing may not become available on acceptable terms and there can be no assurance that any additional financing that the Company does obtain will be sufficient to meet its needs in the long term. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in the case of equity financing. If we require additional cash and cannot raise it, we will either have to suspend operations or cease business entirely.

The accompanying financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block]

3.         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Fair Value of Financial Instruments

Effective January 1, 2008, fair value measurements are determined by our adoption of authoritative guidance issued by the Financial Accounting Standards Board ("FASB"), with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption of the authoritative guidance did not have a material impact on our fair value measurements. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.

Level 3—Unobservable inputs based on our assumptions.

We are required to use observable market data if such data is available without undue cost and effort.

At September 30, 2017 and December 31, 2016, the fair values of accounts payable approximate their carrying values.

Comprehensive Income

Comprehensive income consists of net income and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net income. There was no recorded comprehensive income or loss for both the three months and nine months ended September 30, 2017 and 2016.

Use of Estimates

In preparing financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses in the statement of operations. Actual results may differ from those estimates.

Basic and Diluted Net Loss Per Share

Our computation of earnings per share ("EPS") includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income (loss) of the Company as if they had been converted at the beginning of the periods presented, or issuance date, if later. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted (loss) per common share is the same for periods in which the company reported an operating loss because all warrants and stock options outstanding are anti-dilutive.

There were no adjustments to net loss required for purposes of computing dilutive earnings per share.

For the three months and nine months ended September 30, 2017 and 2016, there were no potential dilutive securities.

Recently Issued Accounting Pronouncements

On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230)” (the “Update”). Prior to the Update, there was diversity in practice in how certain cash receipts and cash payments were presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. The Update addressed eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in the Update will become effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity elects early adoption of the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that include that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

Other accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

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RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2017

RELATED PARTY TRANSACTIONS [Text Block]

4.         RELATED PARTY TRANSACTIONS

During the nine months ended September 30, 2017 and 2016, Linyi Yi Cheng Cultural Innovative Industry Zone Management Limited, a related company of the Company, in which Mr. Zhaoyu Gu, a director of the Company, has a beneficial interest, provided net advances of $59,845 and $0, respectively, to finance the Company’s working capital requirements.

Advances from a related company are unsecured, due on demand, and non-interest bearing. The outstanding advances from a related company totaled $71,497 and $11,652 as of September 30, 2017 and December 31, 2016, respectively.

There was no additional advance from the Company’s stockholder during the nine months ended September 30, 2017. During the nine months ended September 30, 2016, the Company’s stockholders provided net advances of $73,215 to finance the Company’s working capital requirements.

Advances from a stockholder are unsecured, due on demand, and non-interest bearing. There were no outstanding advances from a stockholder as of September 30, 2017 and December 31, 2016. On May 23, 2016 the outstanding advances from a stockholder totaling $334,756 were waived in full (Please see Note 6).

During the three months and nine months ended September 30, 2017 and 2016, the Company’s office facility has been provided without charge by the Company’s major stockholder. Such cost was not material to the financial statements and accordingly, has not been reflected therein. In view of the Company’s limited operations and resources, the major stockholder did not receive any compensation from the Company during the three months and nine months ended September 30, 2017 and 2016.

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PROMISSORY NOTE PAYABLE IN DEFAULT

9 Months Ended

Sep. 30, 2017

PROMISSORY NOTE PAYABLE IN DEFAULT [Text Block]

5.         PROMISSORY NOTE PAYABLE – IN DEFAULT

On March 3, 2011, the Company obtained a $50,000 loan from an unrelated party as evidenced by a promissory note (the “Promissory Note”). The loan, which is unsecured and bears interest at 5% per annum, matured on March 3, 2012. The funds were used to repay all outstanding stockholder loans and accounts payable and to provide working capital through November 30, 2012.

In connection with the share purchase described under Note 6 herein, Horizon Investment Club Limited (“Horizon”) entered into a Deed of Waiver and Assumption of Debt (the “Waiver”) with the Company pursuant to which Horizon and the Company agreed and confirmed that the Company novates and transfers to Horizon all its obligations and liabilities under the Promissory Note including all principal amount, accrued interests, or default interests arising thereunder and such other liabilities accrued or incurred by the Company prior to the closing of the share purchase on July 2, 2016.

However, the assignment of the Promissory Note has not been consented by the creditor because the Company’s efforts to contact the creditor have not been successful. Therefore, the Company may still be liable until the earlier of (i) the loan is paid off, (ii) the creditor consents to the Waiver or (iii) the statute of limitation on the Promissory Note expires on March 3, 2022. Therefore, the Promissory Note is currently deemed to be in default despite the Waiver.

During the three months and nine months ended September 30, 2017, the Company accrued $625 and $1,875 in interest payable under the note, respectively, as compared to $625 and $1,875 for the three months and nine months ended September 30, 2016.

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STOCKHOLDER CONTRIBUTION

9 Months Ended

Sep. 30, 2017

STOCKHOLDER CONTRIBUTION [Text Block]

6.         STOCKHOLDER CONTRIBUTION

Horizon entered into an agreement dated May 23, 2016 with the Company to waive the Company’s balance of $307,818 due to Horizon. On May 23, 2016, Horizon further consented to waive a sum of $26,938 receivable from the Company. Horizon was the Company’s major stockholder and on May 23, 2016 it entered into a share purchase agreement to sell all its shares of the Company to Red Point Holdings L.P., an Exempted Limited Partnership registered in the Cayman Islands. A gain from extinguishment of these liabilities of $334,756 was recorded as capital contribution in equity.

XML

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2017

Fair Value of Financial Instruments [Policy Text Block]

Fair Value of Financial Instruments

Effective January 1, 2008, fair value measurements are determined by our adoption of authoritative guidance issued by the Financial Accounting Standards Board ("FASB"), with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption of the authoritative guidance did not have a material impact on our fair value measurements. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows:

Level 1—Quoted prices in active markets for identical assets or liabilities.

Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.

Level 3—Unobservable inputs based on our assumptions.

We are required to use observable market data if such data is available without undue cost and effort.

At September 30, 2017 and December 31, 2016, the fair values of accounts payable approximate their carrying values.

Comprehensive Income [Policy Text Block]

Comprehensive Income

Comprehensive income consists of net income and other gains and losses affecting stockholders’ equity that, under U.S. GAAP, are excluded from net income. There was no recorded comprehensive income or loss for both the three months and nine months ended September 30, 2017 and 2016.

Use of Estimates [Policy Text Block]

Use of Estimates

In preparing financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses in the statement of operations. Actual results may differ from those estimates.

Basic and Diluted Net Loss Per Share [Policy Text Block]

Basic and Diluted Net Loss Per Share

Our computation of earnings per share ("EPS") includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income (loss) of the Company as if they had been converted at the beginning of the periods presented, or issuance date, if later. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted (loss) per common share is the same for periods in which the company reported an operating loss because all warrants and stock options outstanding are anti-dilutive.

There were no adjustments to net loss required for purposes of computing dilutive earnings per share.

For the three months and nine months ended September 30, 2017 and 2016, there were no potential dilutive securities.

Recently Issued Accounting Pronouncements [Policy Text Block]

Recently Issued Accounting Pronouncements

On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230)” (the “Update”). Prior to the Update, there was diversity in practice in how certain cash receipts and cash payments were presented and classified in the statement of cash flows under Topic 230, Statement of Cash Flows, and other Topics. The Update addressed eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in the Update will become effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. If an entity elects early adoption of the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that include that interim period. An entity that elects early adoption must adopt all of the amendments in the same period.

Other accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

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BASIS OF PRESENTATION AND GOING CONCERN (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accumulated deficit	$ 576,501		$ 526,281
Total stockholders deficiency	138,249		$ 88,029
Cash flows used in operating activities	$ 59,845	$ 73,215

XML

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Advances from a related company		$ 59,845	$ 0
Advances from a related company, outstanding balance		71,497		$ 11,652
Advances from a stockholder		0	73,215
Related Party Debt Extinguishment	$ 334,756
Linyi Yi Cheng Cultural Innovative Industry Zone Management Limited [Member]
Advances from a related company		$ 59,845	$ 0

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PROMISSORY NOTE PAYABLE IN DEFAULT (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 03, 2011
Loans Payable, Noncurrent					$ 50,000
Debt Instrument, Interest Rate, Stated Percentage					5.00%
Interest Expense, Debt	$ 625	$ 625	$ 1,875	$ 1,875

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STOCKHOLDER CONTRIBUTION (Narrative) (Details) - Horizon Investment Club [Member] - USD ($)	1 Months Ended
	May 23, 2016	May 23, 2016
Extinguishment of Debt, Amount	$ 26,938	$ 307,818
Gains (Losses) on Extinguishment of Debt		$ 334,756