0001213900-16-010526.txt : 20160202 0001213900-16-010526.hdr.sgml : 20160202 20160202060740 ACCESSION NUMBER: 0001213900-16-010526 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 97 CONFORMED PERIOD OF REPORT: 20151231 FILED AS OF DATE: 20160202 DATE AS OF CHANGE: 20160202 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Yangtze River Development Ltd CENTRAL INDEX KEY: 0001487843 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 271636887 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-55576 FILM NUMBER: 161379103 BUSINESS ADDRESS: STREET 1: 183 BROADWAY STREET 2: SUITE 5 CITY: NEW YORK STATE: NY ZIP: 10007 BUSINESS PHONE: 646-861-3315 MAIL ADDRESS: STREET 1: 183 BROADWAY STREET 2: SUITE 5 CITY: NEW YORK STATE: NY ZIP: 10007 FORMER COMPANY: FORMER CONFORMED NAME: Kirin International Holding, Inc. DATE OF NAME CHANGE: 20110315 FORMER COMPANY: FORMER CONFORMED NAME: Ciglarette, Inc. DATE OF NAME CHANGE: 20100324 10-K 1 f10k2015_yangtzeriver.htm ANNUAL REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-K

 

(Mark One)

 

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

 

For the fiscal year ended December 31, 2015

 

or

 

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

 

For the transition period from ___________ to ___________

 

Commission File Number: 000-55576

 

YANGTZE RIVER DEVELOPMENT LIMITED

(Exact name of registrant as specified in its charter)

 

Nevada   27-1636887

State or other jurisdiction
of incorporation or organization

  (I.R.S. Employer
Identification No.)
     

183 Broadway, Suite 5

New York, NY

United States

  10007
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: 646-861-3315

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class:   Name of each exchange on which registered:
None    None

 

Securities registered pursuant to Section 12(g) of the Act:

 

Common Stock, par value $0.0001 per share

(Title of class)

 

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

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☒     No ☐

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 ☐     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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of 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.

Accelerated filer Large accelerated filer
Non-accelerated filer ☐ (Do not check if a smaller reporting company) Smaller reporting company ☒ 

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

 

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, as of the last business day of the registrant’s most recently completed second fiscal quarter: $5,343,998.

 

Number of the issuer’s common stock outstanding as of February 1, 2016: 172,254,446.

 

Documents incorporate by reference: None.

 

 

 

 

 

 

TABLE OF CONTENTS

 

    Page 
Part I
     
Item 1 Business 4
Item 1A Risk Factors 16
Item 2 Properties 16
Item 3 Legal Proceedings 17
Item 4 Mine Safety Disclosures 17
     
Part II
   
Item 5 Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17
Item 6 Selected Financial Data 18
Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operation 18
Item 7A Quantitative and Qualitative Disclosures about Market Risk 28
Item 8 Financial Statements and Supplementary Data 28
Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 28
Item 9A Controls and Procedures 28
Item 9B Other Information 29
    29
Part III
     
Item 10 Directors, Executive Officers and Corporate Governance 30
Item 11 Executive Compensation 38
Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 40
Item 13 Certain Relationships and Related Transactions, and Director Independence 41
Item 14 Principal Accounting Fees and Services 42
     
Part IV
   
Item 15 Exhibits, Financial Statement Schedules 43
Signatures 46

 

 2 

 

 

FORWARD-LOOKING STATEMENTS

 

This Annual Report on Form 10-K (this “Report”) contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as “anticipate,” “believe,” “estimate,” “intend,” “could,” “should,” “would,” “may,” “seek,” “plan,” “might,” “will,” “expect,” “predict,” “project,” “forecast,” “potential,” “continue” negatives thereof or similar expressions. These forward-looking statements are found at various places throughout this Report and include information concerning possible or assumed future results of our operations; business strategies; future cash flows; financing plans; plans and objectives of management; any other statements regarding future operations, future cash needs, business plans and future financial results, and any other statements that are not historical facts.

 

From time to time, forward-looking statements also are included in our other periodic reports on Forms 10-Q and 8-K, in our press releases, in our presentations, on our website and in other materials released to the public.  Any or all of the forward-looking statements included in this Report and in any other reports or public statements made by us are not guarantees of future performance and may turn out to be inaccurate. These forward-looking statements represent our intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors.  Many of those factors are outside of our control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than we have described. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Report. All subsequent written and oral forward-looking statements concerning other matters addressed in this Report and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this Report.

 

Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

 

USE OF CERTAIN DEFINED TERMS

 

In this Report, unless otherwise noted or as the context otherwise requires, “Yangtze River”, the “Company,” “YERR,” “we,” “us,” and “our” refers to the combined business of Yangtze River Development Limited, a corporate formed under the laws of the State of Nevada, Energetic Mind Limited (“Energetic Mind”), which is our wholly-owned subsidiary formed under the laws of the British Virgin Islands (“BVI”), Energetic Mind’s wholly-owned subsidiary Ricofeliz Capital (HK) Ltd (“Ricofliz Capital”), a company formed under the laws of Hong Kong, and Ricofelix Capital’s wholly-owned subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd (“Wuhan Newport”), a wholly foreign-owned enterprise formed under the laws of the People’s Republic of China (“China”).  

 

 3 

 

 

PART I

 

Item 1. Business.

 

Overview

 

Yangtze River Development Limited is a Nevada corporation that operates through its wholly-owned subsidiary Ricofelix Capital, which operates through its wholly-owned subsidiary Wuhan Newport, a wholly foreign-owned enterprise that primarily engages in the business of real estate and infrastructural development with a port logistics project located in Wuhan, Hubei Province of China. Situated in the middle reaches of the Yangtze River, Wuhan Newport is a large infrastructure development project implemented under China's latest "One Belt One Road" initiative and is believed to be strategically positioned in the anticipated "Free Trade Zone" of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. To be fully developed upon completion of three phases, within the logistics center, there will be six operating zones, including port operation area, warehouse and distribution area, cold chain logistics area, rail cargo loading area, exhibition area and residential community. The logistics center is also expected to provide a number of shipping berths for cargo ships of various sizes. Wuhan Newport is expected to provide domestic and foreign businesses a direct access to the anticipated Free Trade Zone in Wuhan. The project will include commercial buildings, professional logistic supply chain centers, direct access to the Yangtze River, Wuhan-Xinjiang-Europe Railway and ground transportation, storage and processing centers, IT supporting services, among others.

 

Wuhan Yangtze River Newport Logistics Center

 

One of the main projects of our Company is the Wuhan Yangtze River Newport Logistics Center (the “Logistics Center”), which is an extensive complex that is located in Wuhan, the capital of Hubei Province of China, a major transportation hub with dozens of railways, roads and expressways passing through the city and connecting to major cities in Mainland China, with connections to international centers of commerce and business.  

 

The Logistics Center is expected to approximately a total of 474 Acres, for which the construction and development are expected to be completed in five years in three phases. It is expected to be located in the Wuhan Newport Yangluo Port, on the upper stream of the Yangtze River, and close to the northern base of Wu Iron and Steel, China's first supergiant iron and steel complex. The Logistics Center is expected to include a port that will be located approximately 26.5km to Wuhan Guan and 5.5km from the Yangluo Yangtze River Bridge. The operation area of the port is expected to consist of a riverbank of 1,039 meters with eight 5,000 to 10,000-ton berths, two of which are multi-purpose berths and the other six to general cargo berths. It is also designed to be able to handle up to five million tons of cargo and containers areas up to 100,000 TEU a year (including two freezers areas of 10,000 TEU).

 

Within the Logistics Center, functional areas will be divided into six operating zones, including a port operation area, a warehouse and distribution area, a cold chain supply logistics area, a rail cargo loading area, an exhibition area and a mixed residential and commercial community. The Logistics Center will also be complemented with container storage areas, multi-functional areas, general storage areas, multi-functional warehouse and infrastructural development, including new roads, gas stations, parking areas, gas and water pipes, electricity lines and all other facilities and equipment to operate the Logistics Center.

 

 4 

 

 

Aside from being situated in the Wuhan Yangluo Comprehensive Bonded Zone, Yangluo development area is amongst the third group of China’s Free-Trade Zone (FTZ) applicants to submit FTZ applications to the State Council through the Wuhan municipal government for approval. Approvals have so far been granted to Shanghai, Tianjin, Guangdong and Fujian. Enterprises within the approved free-trade zones are typically entitled to a series of favorable regulations and policies that could help the businesses grow and succeed.

 

Wuhan Newport has signed an agreement to rent 1.2 million square meters of land on a long term basis for building logistics warehouses covering 400,000 square meters in support of the new port. The warehouses is expected to comprise of port terminal zones, warehouse logistics zones, cold chain supply zones and railroad loading and unloading zones. The warehouses, once constructed, will connect the port terminal along the Yangtze River and the railway leading to Europe, satisfying the requirement of China’s latest “One Belt, One Road” initiative. It will also be able to support large logistics companies in Wuhan and other nearby provinces that lease the warehouses, terminals and offices.

 

Logistics Center Highlights:

 

  The shipping center of Wuhan Newport will be implemented under China’s latest “One Belt, One Road” initiative to promote the "Yangtze River Economic Belt"
     
  Wuhan Newport is part of the Yangluo port, which is part of the area that is currently seeking approval for status as a "Free-Trade Zone"
     
  Wuhan Newport is part of the "Yangluo Comprehensive Bonded Zone", which allows the enterprises in the zone to receive certain favorable tax treatments such as export tax rebates and less or free of value-added tax and consumption tax

 

The “One Belt, One Road” Initiative.

 

China’s “one belt one road” transportation infrastructure development strategy aiming to link Asia with Africa and Europe has spurred the development of more international air routes from second-tier cities such as Wuhan, Changsha, Xiamen and Urumqi. The belt manifests the continental dimension of this geo-strategic realm. The “Belt” consists of a network of rail routes, overland highways, oil and gas pipelines and other infrastructural projects, stretching from Xian in Western China, through Central Asia and into Russia, with one artery crossing Kazakhstan and the other through Mongolia but both linking up with the trans-Siberian railway and going on to Rotterdam.

 

The “Road” is the maritime dimension and consists of a network of ports and other coastal infrastructure from China’s eastern seaboard stretching across South East Asia, South Asia, the Gulf, East Africa and the Mediterranean, forming a loop terminating at Greece, Italy and Netherlands in Europe and Kenya in Africa.

 

The Belt and the Road run through the continents of Asia, Europe and Africa, connecting the vibrant East Asia economic circle at one end and developed European economic circle at the other, and encompassing countries with huge potential for economic development.

 

Chinese President Xi Jinping put forward the strategic conception of building the "Silk Road Economic Belt" and "21st Century Maritime Silk Road", known shortly as the "One Belt and One Road" initiatives in September, 2013. The proposal garnered the interest of the global community, as soon as it was announced. Various countries along the proposed route have expressed broad support, while domestic cities and provinces, which were part of the ancient Silk Road, have welcomed the idea. Over the past year, China and relevant countries, together with regional organizations, have put in a lot of efforts to jointly build the 'One Belt and One Road'. They have devised innovative methods to strengthen bilateral ties and enhance regional cooperation and have made impressive progress.

 

This visionary conception that leverages on China's historical connections has created a new opportunity to rejuvenate the economic and cultural ties built via the ancient Silk Road. It presents a "win-win approach" to peaceful coexistence and mutual development. The idea carries forward the spirit of the ancient Silk Road that was based on mutual trust, equality and mutual benefits, inclusiveness and mutual learning, and win-win cooperation. It also conforms to the 21st century norms of promoting peace, development, cooperation and adopting a win-win strategy for all. The conception organically links the "Chinese dream" to the "Global Dream" and has far-reaching strategic significance with a global impact.

 

Office Complex Project

 

Taking into consideration the Comprehensive Bonded Zone and Free Trade Zone status of the Logistic Center, Wuhan Newport has obtained the land use rights to own approximately 500,000 square meters of commercial lands on which Wuhan Newport will build a mixed residential and office complex of approximately 700,000 square meters.   As of the date of this Annual Report, mixed-use complex totaling approximately 100,000 square meters have been completed and there are outstanding 600,000 square meters to be constructed in three phases within the next five (5) years.

 

To support the office complex, a light railway from downtown Wuhan to the complex is undergoing construction, for which the complex will be accessible by two stations along the light railway line. In addition, an expressway along the north shore of the Yangtze River in Wuhan is currently under construction; the completion of the highway is also expected to provide direct ground access between Wuhan city center and the Logistics Center and cut down the commute time to only 20 minutes.

 

Upon completion of the construction of the office buildings, Wuhan Newport plans to sell half of the complex while leasing out the remaining half for long-term income. It is Company’s goal to recover the initial investment costs through sale of half of the complex and generate a stable return based on rent of the other half complex upon completion of the project.

   

 5 

 

 

Corporate History

 

On December 23, 2009, the Company was incorporated under the laws of the State of Nevada under the name of “Ciglarette International, Inc.”. Our operations at the time consisted of marketing and distributing a “smokeless” cigarette. During that time, we had no revenue and our operations were limited to capital formation, organization, and development of our business plan and target customer market. 

 

On March 1, 2011, the Company completed a reverse acquisition transaction through a share exchange with Kirin China Holding, a British Virgin Islands company (“Kirin China”), whereby the Company acquired all of the issued and outstanding shares of Kirin China in exchange for 18,547,297 shares of common stock, which represented approximately 98.4% of the total shares outstanding immediately following the closing of this share exchange (the “First Share Exchange”). Upon consummation of the First Share Exchange, Company changes its name to “Kirin International Holding, Inc.” and traded under the symbol “KIRI” on OTC Markets. As a result of the First Share Exchange, Kirin China became a wholly-owned subsidiary. The Company ceased the smokeless cigarette business and became a holding company, through various controlled entities in the China, engaged in the development and operation of real estate in China. Through Kirin China, Company engaged in private real estate development focusing on residential and commercial real estate development in “tier-three” cities in China. Tier-three cities are provincial capital cities with ordinary economic development and prefecture cities with relatively strong economic development.  

 

On December 19, 2015, Company entered into certain share exchange agreements with Energetic Mind and all the shareholders of Energetic Mind whereby the Company acquired 100% issued and outstanding ordinary shares of Energetic Mind (the “Second Share Exchange”). Pursuant to the terms of the agreements for the Second Share Exchange, in exchange for 100% issued and outstanding ordinary shares of Energetic Mind, the Company agreed to issue to (i) the shareholders of Energetic Mind an aggregate of one hundred fifty-one million (151,000,000) shares of Company’s common stock and (2) a certain related party an additional 8% convertible promissory note in the principal amount of one hundred fifty million dollars ($150,000,000), with a conversion price of $10.00 per share. 

 

On December 31, 2015, the Company disposed all of its interests in i) Brookhollow Lake, LLC, ii) Newport Property Holding, LLC, iii) Kirin China, iv) Kirin Hopkins Real Estate Group LLC, v) Archway Development Group LLC, vi) Specturm International Enterprise, LLC and vii) wholly-owned subsidiary HHC-6055 Centre Drive LLC. The sale of Kirin China also effectively terminated Company’s contractual relationship with Hebei Zhongding Real Estate Development Co. Ltd and Xingtai Zhongding Jiye Real Estate Development Co., Ltd, both of which are companies formed under the laws of the People’s Republic of China and were deemed Company’s variable interest entities prior to this sale (“Subsidiaries Sale”). 

 

As a result of the Second Share Exchange and the Subsidiaries Sale, the Company currently operates its business solely through its wholly-owned subsidiary Energetic Mind, which is the sole shareholder of Ricofliz, which engages its business through its wholly-owned subsidiary Wuhan Newport.

 

On January 13, 2016, Company filed a Certificate of Amendment to its Articles of Incorporation (the “Amendment”) with the Secretary of the State of the State of Nevada, changing its name from “Kirin International Holding, Inc.” to “Yangtze River Development Limited”. Effective January 22, 2016, Company changed its stock symbol from “KIRI” to “YERR”.

 

Organization & Subsidiaries 

 

Upon completion of the Second Share Exchange described above in “Corporate History”, Yangtze River Development Limited holds 100% ordinary shares of its wholly owned subsidiary, Energetic Mind, which holds all of the share capital of Ricofeliz Capital. Ricofeliz Capital holds all of the share capital of Wuhan Newport, a wholly foreign-owned enterprise located in Wuhan of Hubei Province in China.

 

 6 

 

 

The following diagram illustrates our corporate structure as of the date of this Annual Report:

 

 

Transportation and Logistics Services

 

Taking the regional advantage of the highways, railways and waterways in Yangluo area, Company plans to develop a shipping hub with access to all types of cargo transportation and offer complementary services to businesses within this logistics center. The Company intends to create an efficient, reliable and comprehensive logistics service system by utilizing the third-party service providers with offices within the Logistics Center to provide professional logistics services.

 

Company is currently constructing the port terminal which will be the focal point of the Yangtze River Economic Belt. The Yangtze River riverbank within our properties measures 1,039 meters, where we plan to complete eight cargo berths handling ships ranging from 5,000 to 10,000 tons.

 

A cargo transportation railway invested by the government has been built next to the Logistic Center. The railway is known as the Wuhan-Xinjiang-Europe (“WXE”) Railway in the Silk Road Economic Zone as it is in the “One Belt, One Road” initiative introduced by the Chinese government. The WXE Freight Train sets out from Wuhan to Xinjiang and finally ends in Mainland Europe. Wuhan Newport’s terminal is therefore an important component of the “Silk Road Economic Belt” under the “One Belt, One Road” framework.

 

The customs facility at the Yangluo Comprehensive Bonded Area allow cargo vessels ranging from 5,000 to 10,000 tons to set out from Shanghai downstream via the Yangtze River in order to transport “Made in China” commodities to the Pacific Ocean and further to any other ports across the Indian Ocean. In return transporting commodities from other countries will be shipped directly back to Wuhan and then distributed throughout rest of the Mainland China. Aside from being situated in the Wuhan Yangluo Comprehensive Bonded Zone, Yangluo development area is amongst the third group of China’s Free-Trade Zone (FTZ) applicants to submit FTZ applications to the State Council through the Wuhan municipal government for approval. Approvals have so far been granted to Shanghai, Tianjin, Guangdong and Fujian. Enterprises within the approved free-trade zones are typically entitled to a series of favorable regulations and policies that could help the businesses grow and succeed.

 

 7 

 

 

Cold Chain Logistics Services

 

A cold chain is a temperature-controlled supply chain. An unbroken cold chain is an uninterrupted series of storage and distribution activities which maintain a given temperature range. It is used to help extend and ensure the shelf life of products such as fresh agricultural produce, seafood and frozen food.

 

Within the Logistics Center, Company will provide extensive storage and processing services to its customers. Meanwhile, a cold chain logistics service system will be established to better help Company’s clients’ processing needs for their frozen foods, meats and other products that need special processing and handling. In addition, Company will offer professional services with temperature control, sorting, processing, packaging and delivery to ensure the reliability and safety of the logistics process.

 

Information Platform

 

To adapt to the needs of modern logistics service and meet the standards of the industry worldwide, Company will establish comprehensive automated management systems, as well as develop an operation system, enquiry system and decision-making systems for all types of business information such as warehouse, storage, trade, distribution and transportation, movable assets supervision and freight forwarding. Company plans to launch an integrated and information-sharing platform geared towards the demand of its targeted markets and potential clients.

 

Company will establish a uniform information platform including an internet-based logistics information portal and an e-commerce platform to provide the Company’s clients with services such as logistics services tracking, service rating, online operation, electronic transaction, and etc. Company expects this information portal to be equally reliable for both service providers and their respective clients.

 

Company will also establish an e-commerce system based on the logistics information portal and it will provide clients with many updated services such as online transactions, online payments, online inquiries and business information communication. This will create a comprehensive service system and a business model with high integration of information flow, capital flow, trade flow and goods flow.

 

Portside Service

 

Company also plans to provide incentives for companies that specialize in IT, production of new material and high-end equipment and manufacturing companies to station nearby the Logistics Center so that these companies can grow with the Logistics Center, leveraging each other’s specialization to serve each other’s business needs.

 

Logistics Financing

 

Logistics financing is mainly based on using supplies as collateral to obtain financing for supply chains to improve its overall economic efficiency. Developing an innovative logistics financing is significant because traditionally mortgages or loans are concentrated in real estate and logistics financing provides a lower systematic risk for lenders.

 

 8 

 

 

Compared to developed countries, logistics financing is a rather new field in China with a huge market potential of about 7 trillion RMB. The driving force for logistics financial service in western countries is mainly attributable to financial institutions as opposed to third-party private logistics companies in China who would occasionally provide financing options.

 

Logistics financial services became a popular investment vehicle among these third-party lenders. However, the business of logistics financing has become more complex for these private lenders to handle as they will need professional service to guide them the process and thus safeguard their investments.

 

According to the data from China Federation of Logistics and Purchasing, the total nationwide logistics in 2011 amounted to RMB 158.4 trillion which year-on-year growth rate is 12.3%. It decreased 2.7% compared to that of last year. The growth trend of the total nationwide logistics is high in first half year while low in last half year—it is 14.2% in the first quarter, 13.7% in the first half year and 13.4% in the first three quarters. Total nationwide logistics fees are 8.4 trillion Yuan which year-on-year growth rate is 18.5% an increase of 1.8% compared to that of last year. Data from China Federation of Logistics and Purchasing also shows that the proportion of total logistics fees to GDP in 2011 is 17.8%, which is almost same as that of last year. This means the logistics cost of social economic operation is still high. As an important part of a productive service industry, the position of the logistics industry in the national economy is more and more significant. It promotes the development of the growth and the maturity of the economy and society. The huge market space of logistics industry also attracts banks to enter the market. 

 

Even though the history of logistics financing has been relatively short in China, the appetite for this is expected to grow as the Free Trade Zones in Shanghai, Tianjin and soon-to-be Wuhan will likely attract more business and international financial institutions. Logistics financing not only provides the businesses with a new alternative to meet their capital needs, but also opens a new channel for commercial banks to reach small and midsize businesses. While interest income generated from logistics financing transaction is often an important source of income for many multinational logistics companies, companies who are able to provide financing are often the industry leaders. Because logistics financing can be an effective channel for the Company to reach its targeted market, our Company plans to capture this first-mover advantage when logistics financing is still in its development stage in China.

 

In light of this market opportunity, Company plans to establish and utilize e-commerce platforms to offer online booking, online dealing and online exhibiting services to provide professional transaction services for electronic products, commodity, foods and metals. Company also plans to provide comprehensive support services to complement logistics financing. Maritime insurance and training services will be offered within the Logistic Center. Company plans to help its clients to raise construction capital through Build-Transfer (BT), Build-Operate-Transfer (BOT), corporate debt and equity financing. Company also plans to collaborate and develop strategic alliances with other logistics or cargo shipping centers around the world.  

 

Sales and Marketing

  

Company plans to enter the market by collaboration with two strategic partners – CMST Development (Hankou) Co. Ltd. (“CMST”) and Hubei Province Chamber of Commerce (“HPCC”).

 

CMST is a state-owned enterprise that is principally engaged in the logistics and trading business. The company and its subsidiaries are primarily involved in the storage, sale and distribution of merchandises, and freight forwarding. As part of the collaborate, CMST  has agreed to transfer storage and processing, logistics and other existing services to Wuhan Newport, including a turnover of more than 5 million tons of steel per year. Because of the collaboration, Company plans to offer the warehouse processing zones and provide the partner companies with professional service and advice. While company is responsible for providing storage areas, railway access, port terminal and equipment installation, along with a commodities trading e-commerce platform to provide a comprehensive range of supply chain for financial support services, CMST is responsible for warehouse operations management and client sourcing. Both companies will work together to create Wuhan Newport as a national logistics center and establish a greater influence on the commodity professional market. Company is expected to receive fees based on their use of the warehouse and terminal, as well as other services within the Logistics Center.

 

 9 

 

 

Company has also been collaborating with Hubei-Jin Business Chamber of Commerce (“Hubei-Jin”) as Hubei-Jin intends to move its headquarter to the Logistics Center. Hubei -Jin works with approximately fifty companies in the iron and steel production and trading business. Optimistic about the geographic advantages and appreciation potential of the Logistics Center, Hubei-Jin has committed to a total of not less than 100,000 square meters of office space and is expected to move in occupying the office spaces. While their biggest needs will be the warehouse within the Logistics Center, Hubei-Jin is also expected to use company’s port terminal, waterways, railways and other logistics services, for all of which Company will charge Hubei-Jin a service fee.  

 

PRC Logistics Industry Overview

 

According to the National Bureau of Statistics of the PRC, China’s nominal GDP grew at a compound annual growth rate of 15.8% between 1980 and 2013 and reached RMB 56.9 trillion in 2013. Adjusted for inflation, China’s real GDP maintained an average annual growth rate of 9.9% between 1980 and 2013, significantly outpacing the world’s other major economies, such as the United States, Japan, India and Germany. Since 2010, China has been the world’s second largest economy behind the United States.

 

 

Source: National Bureau of Statistics of the PRC

 

 10 

 

 

 

 

Source: National Bureau of Statistics of the PRC

 

The logistics industry has become the new increasing point of China’s economy in the 21st century. In recent years, third party logistics indicated a tendency towards rapid increase, increasing from 40 billion in 2001 to 500 billion in 2013 with a 25% annual increase rate at average. Among these third party logistics companies, 70% of them had a 30% increase in their revenue annually and 20% of them had their revenue doubled each year.

 

The Rise of Logistics Finance

 

Logistics finance provides financial services such as financing, clearance and insurance to support the logistics industry. It evolves as the logistics industry develops. Not only can logistics finance services improve the service capability and increase the profitability of the third party logistics companies, it can also expand financing channels, decrease financing cost and increase the capital efficiency.

 

Compared with developed countries, logistics finance is a new field in China with huge market potential of about 7 trillion RMB. The driving force for logistics financial services in western countries are mainly financial institutes while it is the third party logistics corporations in China that provide such services. Logistics financial services appear along with modern third party logistics corporations. The business of logistic financial services for modern third party logistics corporations is more complex than before in that it not only includes modern logistics service but is part of finance services.

 

According to the data from China Federation of Logistics and Purchasing, total nationwide logistics amount in 2011 is 158.4 trillion Yuan which year-on-year growth rate is 12.3%. It decreases 2.7% comparing with that of last year. The growth trend of total nationwide logistics amounts is high in first half year while low in last half year—it is 14.2% in the first quarter, 13.7% in the first half year and 13.4% in the first three quarters. Total nationwide logistics fees are 8.4 trillion Yuan which have a year-on-year growth rate of 18.5% and increase to 1.8% compared that of last year. Data from the China Federation of Logistics and Purchasing also shows that proportion of total logistics fee to GDP in 2011 is 17.8% which is almost same to that of last year. It means the logistics cost of social economic operation is still high. As an important part of a productive service industry, the position of the logistics industry in national economy is more and more significant. It promotes the development of the economy. The huge market space of logistics industry also attracts banks to enter the market.

 

The major target client for logistics finance service are small or medium size companies, which are the main players in China’s economy and have a great weight in the market. One of the biggest hurdles in the life circle of these small or medium size companies is lack of cash flow, which always becomes the “bottle neck” of their development and prevents them from moving forward. The need for logistics financing is because of the lack of available credit financing facilities and incapability of financing on the capital markets.

 

 11 

 

 

Therefore, logistics finance services solve the financing problem by allowing these small and medium companies to use its raw materials and commodities as collateral to borrow money. Logistics financing increases the liquidity of cash flow, lowers the clearance risks and improves the efficiency of the economic operation. It is conservatively estimated that the logistics finance market in China is over 1,000 billion RMB. China’s logistics finance is a huge growing space.

 

Market Overview of Wuhan

 

Located in the middle reaches of the Yangtze River, Wuhan has been regarded as the gateway to nine provinces nearby. Beijing-Guangzhou Railway and the Yangtze River converge in Wuhan and also Beijing-Jiulong Railway and Beijing-Guangzhou Railway intersect in it, thus forming a railway network linking North China, Southwest China, Central South China and East China. Moreover, Beijing-Zhuhai Expressway and Shanghai-Chengdu Expressway converge in Wuhan and a high-speed railway along the Yangtze River will be completed here soon. Therefore, a “flexible multimodal transportation system” combining expressways, high-speed railways and water transportation on the Yangtze River will give greater prominence to Wuhan's position of strategic importance as a junction of water and land transportation in China.

 

Wuhan is the largest inland logistics and cargo distribution center in China, with its service covering approximately a 400 million populations in the five neighboring provinces including Hunan, Jiangxi, Anhui, Henan and Sichuan. At present, there are over 10,000 commercial organizations, 105,000 commodity networks, four commercial listed enterprises as well as eight comprehensive shopping centers on the list of China Top 100 Retail Shopping Centers.

 

China is thoroughly implementing the strategy of coordinated regional development, expanding domestic demand, innovation-driven development and new urbanization, and building a new economic support belt relying on the Yangtze River. As a central city in the central region and the middle reach of the Yangtze River, and the country’s major transportation hub and science and technology base, Wuhan faces multiple overlapping strategic opportunities. Location, transportation, science, education, market and other advantages will be further enhanced and fully released and more quickly transformed into development and competitive advantage.

 

 12 

 

 

Wuhan is a major transportation hub of China situated at the midstream of the Yangtze River. Going west alongside the Yangtze, upstream are the cities in Chongqing, Sichuan, Yunnan and Qinghai. Going east downstream are provinces of Hunan, Anhui and Jiangsu, as well as the cities of Nanjing and Shanghai, until finally arriving at the sea. The railway runs north bound to Harbin, westbound to Urumqi, east bound to Shanghai and south bound to the Shenzhen Highway and expressways that stretch in all directions ensuring easy and convenient transportation to all provinces in China. Likewise, Wuhan is largest economic city in central China with an annual GDP beyond 1,000 billion RMB. In 2015, the China State Council introduced and implemented the Midstream Yangtze River City Group Development Plan headed by Wuhan. In fact, the city was once called “The Oriental Chicago” by the US Harper’s Magazine back in 1918.

 

With the rapid development of inland water shipping in China, logistics and port management industry has grown significantly. Wuhan is one of the major inland water ports in China. In 2014, Wuhan government released an Opinion On Accelerating The Establishment Of Shipping Center In The Middle Reach Of Yangtze River, indicated that the government will help the Wuhan shipping center to be a well-equipped, surrounding industry developed internationally with a scaled and intelligent inland water shipping center with all port and shipping resources highly concentrated. In the Development Plan On Wuhan Logistics Space (2012-2020), Wuhan is strategically positioned as the critical joint of the global supply chain and the logistics transportation hub and information center of China.

 

Wuhan has supported many logistics companies, including, as of March 2014, 99 tier-one logistics companies, which are supported by the local government that aims to forming a multi-dimension logistics industry in Wuhan by providing meaningful support to promising logistics companies. 

 

However, in Wuhan, logistics for domestic trade operated separately from that for international trade and all resources are scattered and not concentrated enough to form a well-organized and well-managed international supply chain. It becomes very difficult for Wuhan to realize the synergy of business, logistics, money and information. In addition, a majority of the current logistics companies in Wuhan focus on traditional cargo transportation and storage services. Therefore, there exists an opportunity for an efficient, comprehensive and modern logistics service center to facilitate the channel of both regional and global logistics.

 

Competitive Advantages

 

The following factors reflect Company’s advantages over the company’s competitors: 

 

  Experienced Logistics Management Team.   Company has a professional team with significant experience in logistics management. Members of the company’s team have had work experience with well-known logistics management companies in different cities. In addition, the management members are well educated with degrees from top universities such as Huazhong University of Science and Technology, Wuhan University, University of British Columbia and Chinese Academy of Social Sciences.

 

 13 

 

 

  Encouraging Policy Environment.   Under China’s latest “One Belt, One Road” initiative, Company is strategically positioned in the anticipated “Pilot Free Trade Zone” of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. In May 2015, China State Council approved the nation’s economic strategic plan, the Vigorous Development Plan of Yangtze River Economic Belt. The Yangtze River Economic Belt has sharpened the focus on the Wuhan New Port Yangluo Terminal the port project that Company is developing.
     
  Unique Transportation Network.   Wuhan is located in the middle reaches of the Yangtze River, east facing south-eastern coastal economic developed area and west linking north-western Boda market and material base.  The distance to metropolitan cities, such as Beijing, Shanghai, Hong Kong and Chongqing are within 1,200 kilometers.  As a central city on mainland China, Wuhan is capable of reaching over 30 provinces like Yunnan Province, Henan Province, Sichuan Province, Shanxi Province, Jiangxi Province and Hunan Province and 600 cities and counties in China.

 

  Highway: Logistics Center is in close proximity to the Beijing-Zhuhai expressway, Shanghai-Chengdu Expressway, and Jiangbei Expressway.

 

  Waterway: the project adjacent to the Yangluo deep-water port, has eight 5,000-ton berths, directly leading to Jianghai. Yangluo port is the largest national shipping port in Central China and the largest container port in the upper reaches of the Yangtze River. Company will be is strategically located for international procurement, distribution and delivery.

 

Railway: through Chinese commodity freight logistics Beijing-Guangzhou, Beijing-Kowloon Railway, close to Beijing-Guangzhou railway extension line, special railway lines offer direct access to the center of the Wuhan Yangtze River Newport logistics center, through Jiangbei railway- Xianglushan station connects all of the domestic railway freight station, and through the construction of the "Chinese new Europe" railway through the Continent.

 

  Airport: 30 kilometers from the Wuhan Tianhe airport.

 

  light-rail transit: by 2018 two light rail stations are expected to be completed next to the Logistics Center, cutting the commute to downtown Wuhan to only 20 minutes.

 

  Jiangbei Expressway: After the completion of Jiangbei Expressway, commute by car from downtown Wuhan to the Logistics Centers is expected to be only about a 20 minutes. 

 

 14 

 

 

The following map shows the location of the Wuhan Newport Logistics Center and surrounding transportation network:

 

 

 

 15 

 

 

Employees

 

As of the date of this Report, we have a total of 87 employees, including our executive officers. 

 

Our employees are not represented by any collective bargaining agreement, and we have never experienced a work stoppage. We believe we have good relations with our employees.

 

Legal Proceedings

 

Currently there are no legal proceedings pending or threatened against the Company. However, from time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise.

  

Item 1A.Risk Factors.

 

Smaller reporting companies are not required to provide the information required by this item.

 

Item 1B.Unresolved Staff Comments.

 

Smaller reporting companies are not required to provide the information required by this item.  

 

Item 2. Properties.

 

The following chart illustrates the properties the Company currently has the land use rights to in Wuhan, Hubei Province, China.

 

Certification Number of Land Use Right Location Purpose of Use Area (㎡) Termination Date
Wu Xin Guo Yong (2008)
Di Zhuang No. 029
South of Han Shi Road, Wuhan Yangluo Economic Development Zone, Hubei Province, PRC Commercial 9,802.67 August 30, 2048
Wu Xin Guo Yong (2008)
Di Zhuan No. 030
59,308.09
Wu Xin Guo Yong (2008)
Di Zhuan No. 031
79,178.94
Wu Xin Guo Yong (2008)
Di Zhuan No. 032
87,108.30
Wu Xin Guo Yong (2009)
Di Zhuan No. 005
176,853.70
Wu Xin Guo Yong (2009)
Di Zhuan No. 006
103,304.49

 

 16 

 

 

The following chart illustrates the properties the Company currently leases in Wuhan, Hubei Province, PRC and New York, United States.

 

Name of the Property Location Purpose of Use Area (㎡) Duration Date
Land Lease No. HZ20150427 Chunfeng Village, Yangluo Neighborhood, Wuhan, Hubei Province, PRC Commercial 1,214,654.52 April 26, 2025
New York Office Premise 183 Broadway, New York, NY 10007 Commercial Suite 5 April 15, 2017 

 

Item 3. Legal Proceedings.

 

We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.

 

Item 4. Mine Safety Disclosures

 

Not Applicable.

 

PART II

 

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity Securities.

 

Market Information

 

Our common stock trades on the OTC Markets under the symbol “YERR”.  The OTC Markets is a quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (“OTC”) equity securities. An OTC Markets equity security generally is any equity that is not listed or traded on a national securities exchange.  

 

 17 

 

 

Price Range of Common Stock

 

The following table shows, for the periods indicated, the high and low bid prices per share of our common stock as reported by the OTC Markets’ quotation service.  These bid prices represent prices quoted by broker-dealers on the OTC Markets quotation service. The quotations reflect inter-dealer prices, without retail mark-up, mark-down or commissions, and may not represent actual transactions.

 

   Fiscal Year 2015 
   High   Low 
         
First Quarter (January 1 - March 31)  $0.45   $0.07 
Second Quarter (April 1 - June 30)  $1.90   $0.25 
Third Quarter (July 1 - September 30)  $3.20   $1.12 
Fourth Quarter (October 1 - December 31)  $8.40   $1.84 

 

   Fiscal Year 2014 
   High   Low 
           
First Quarter (January 1 - March 31)  $0.11   $0.10 
Second Quarter (April 1 - June 30)  $1.83   $0.10 
Third Quarter (July 1 - September 30)  $0.52   $0.16 
Fourth Quarter (October 1 - December 31)  $0.24   $0.06 

 

Holders

 

As of January 31, 2016, there were 59 holders of record of our common stock. This number does not include shares held by brokerage clearing houses, depositories or others in unregistered form.

 

Dividends

 

We have never declared or paid a cash dividend. Any future decisions regarding dividends will be made by our Board of Directors. We currently intend to retain and use any future earnings for the development and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future. Our Board of Directors has complete discretion on whether to pay dividends. Even if our Board of Directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the Board of Directors may deem relevant.

 

Recent Sales of Unregistered Securities

 

None.

 

Item 6. Selected Financial Data.

 

We are not required to provide the information required by this Item because we are a smaller reporting company.

 

Item 7. Management’s Discussion and Analysis of Financial Conditions and Results of Operations.

 

The following discussion and analysis of the results of operations and financial condition for the year ended December 31, 2015 and 2014 should be read in conjunction with our financial statements and the notes to those financial statements that are included elsewhere in this Report. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors.  See “Forward-Looking Statements.”

 

 18 

 

 

Overview

 

Yangtze River Development Limited is a Nevada corporation that operates through its wholly-owned subsidiary Ricofelix Capital, which operates through its wholly-owned subsidiary Wuhan Newport, a wholly foreign-owned enterprise that primarily engages in the business of real estate and infrastructural development with a port logistics project located in Wuhan, Hubei Province of China. Situated in the middle reaches of the Yangtze River, Wuhan Newport is a large infrastructure development project implemented under China's latest "One Belt One Road" initiative and is believed to be strategically positioned in the anticipated "Free Trade Zone" of the Wuhan Port, a crucial trading window between China, the Middle East and Europe. To be fully developed upon completion of three phases, within the logistics center, there will be six operating zones, including port operation area, warehouse and distribution area, cold chain logistics area, rail cargo loading area, exhibition area and residential community. The logistics center is also expected to provide a number of shipping berths for cargo ships of various sizes. Wuhan Newport is expected to provide domestic and foreign businesses a direct access to the anticipated Free Trade Zone in Wuhan. The project will include commercial buildings, professional logistic supply chain centers, direct access to the Yangtze River, Wuhan-Xinjiang-Europe Railway and ground transportation, storage and processing centers, IT supporting services, among others.

 

One of the main projects of our Company is the Wuhan Yangtze River Newport Logistics Center (the “Logistics Center”), which is an extensive complex that is located in Wuhan, the capital of Hubei Province of China, a major transportation hub with dozens of railways, roads and expressways passing through the city and connecting to major cities in Mainland China, with connections to international centers of commerce and business.  

 

The Logistics Center is expected to approximately a total of 474 Acres, for which the construction and development are expected to be completed in five years in three phases. It is expected to be located in the Wuhan Newport Yangluo Port, on the upper stream of the Yangtze River, and close to the northern base of Wu Iron and Steel, China's first supergiant iron and steel complex. The Logistics Center is expected to include a port that will be located approximately 26.5km to Wuhan Guan and 5.5km from the Yangluo Yangtze River Bridge. The operation area of the port is expected to consist of a riverbank of 1,039 meters with eight 5,000 to 10,000-ton berths, two of which are multi-purpose berths and the other six to general cargo berths. It is also designed to be able to handle up to five million tons of cargo and containers areas up to 100,000 TEU a year (including two freezers areas of 10,000 TEU).

 

Within the Logistics Center, functional areas will be divided into six operating zones, including a port operation area, a warehouse and distribution area, a cold chain supply logistics area, a rail cargo loading area, an exhibition area and a mixed residential and commercial community. The Logistics Center will also be complemented with container storage areas, multi-functional areas, general storage areas, multi-functional warehouse and infrastructural development, including new roads, gas stations, parking areas, gas and water pipes, electricity lines and all other facilities and equipment to operate the Logistics Center.

 

Aside from being situated in the Wuhan Yangluo Comprehensive Bonded Zone, Yangluo development area is amongst the third group of China’s Free-Trade Zone (FTZ) applicants to submit FTZ applications to the State Council through the Wuhan municipal government for approval. Approvals have so far been granted to Shanghai, Tianjin, Guangdong and Fujian. Enterprises within the approved free-trade zones are typically entitled to a series of favorable regulations and policies that could help the businesses grow and succeed.

 

Wuhan Newport has signed an agreement to rent 1.2 million square meters of land on a long term basis for building logistics warehouses covering 400,000 square meters in support of the new port. The warehouses is expected to comprise of port terminal zones, warehouse logistics zones, cold chain supply zones and railroad loading and unloading zones. The warehouses, once constructed, will connect the port terminal along the Yangtze River and the railway leading to Europe, satisfying the requirement of China’s latest “One Belt, One Road” initiative. It will also be able to support large logistics companies in Wuhan and other nearby provinces that lease the warehouses, terminals and offices. 

 

 19 

 

 

Factors Affecting our Operating Results

 

Growth of China’s Economy. We operate and derive all of our revenue from operations in China. Economic conditions in China, therefore, affect our operations, including the demand for our properties and services and the availability and prices of land maintenance among other expenses. China has experienced significant economic growth with recorded Gross Domestic Product growth rates at 7.7% in 2013, 7.4% in 2014 and 6.9% in 2015. China is expected to experience continued growth in all areas of investment and consumption.  However, if the Chinese economy were to become significantly affected by a negative stimulus, China’s growth rate would likely to fall and our revenue could correspondingly decline.

 

Government Regulations. Our business and results of operations are subject to PRC government policies and regulations regarding the following:

 

  Land Use Right — According to the Land Administration Law of the PRC and Interim Regulations of the People’s Republic of China Concerning the Assignment and Transfer of the Right to the Use of the State-owned Land in the Urban Areas, individuals and companies are permitted to acquire rights to use urban land or land use rights for specific purposes, including residential, industrial and commercial purposes. We acquire land use rights from local governments and/or other entities for development of residential and commercial real estate projects.
     
  Land Development — According to the Urban Real Estate Development and Operation Administration Regulation, the Urban Real Estate Development and Operation Administration Rules of Hebei Province promulgated by the government of the Hebei Province, and the Real Estate Development Enterprise Qualification Administration Regulation, a real estate development enterprise shall obtain a Real Estate Development Enterprise Qualification Certificate. We obtained the related certificates and seek to ensure that each phase of our projects complies with our certificates.
     
  Project Financing — According to the Land Administration Law and the Property Law of the PRC, the land use rights, residential housing and other buildings still in process of construction may be pledged and mortgaged. From time to time, we pledge and mortgage our land use rights and real properties to lenders in order to obtain project financing.

 

Interest Rate and Inflation Challenges. We are subject to market risks due to fluctuations in interest rates and refinancing of mid-term debt. Higher interest rates may also affect our revenues, gross profits and our ability to raise and service debt and to finance our developments. Inflation could result in increases in the price of raw materials and labor costs.  We do not believe that inflation or deflation has affected our business materially.

 

Acquisitions of Land Use Rights and Associated Costs. We acquire land use rights for development through the governmental auction process and by obtaining land use rights permits from third parties through negotiation, acquisition of entities, co-development or other joint venture arrangements. Our ability to secure sufficient financing for land use rights acquisitions and property development depends on internal cash flows in addition to lenders’ perceptions of our credit reliability, market conditions in the capital markets, investors’ perception of our securities, the PRC economy and the PRC government regulations that affect the availability and cost of financing real estate companies or property purchasers.

 

 20 

 

 

Significant Accounting Policies

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.

 

Fair Value of Financial Instruments

 

ASC Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.

 

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

 

Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

 

Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.

 

As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.

 

Reporting Currency and Foreign Currency Translation

 

The Company’s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company’s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(“RMB”) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.

 

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable 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 are recorded in owners’ equity as part of accumulated other comprehensive income.

 

   December 31, 
   2015   2014 
Balance sheet items, except for equity accounts   6.4917    6.1460 

 

 21 

 

 

   For the Years Ended
December 31,
 
   2015   2014 
Items in the statements of operations and comprehensive income, and statements of cash flows   6.2288    6.1457 

 

Revenue Recognition

 

The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.

 

Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.

 

Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer’s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer’s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.

 

Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.

 

The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014. 

 

Real Estate Capitalization and Cost Allocation

 

Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of40years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units’ gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.

 

 22 

 

 

Capitalization of Interest

 

In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.

 

Cash and Cash Equivalents

 

Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations. 

 

Property and Equipment, Net

 

The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value.

 

The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.

 

Income Taxes

 

Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.

 

The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.

 

Land Appreciation Tax (“LAT”)

 

In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).

 

Earnings per Share

 

Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.

 

 23 

 

 

Advertising Expenses

 

Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.

 

Impairment of long-lived assets

 

The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.

 

The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.

 

Stock-Based Compensation

 

The Company adopted ASC 718 Stock Compensation.  Stock-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period, which is generally the vesting period.  The fair value estimate is based on the share price and other pertinent factors.  The Company estimates forfeitures at the time of grant and to revise those estimates in subsequent periods if actual forfeitures differ from those estimates. The Company used a mix of historical data and future assumptions to estimate pre-vesting forfeitures and to record stock-based compensation expense only for those awards that are expected to vest.

 

Recently Issued Accounting Pronouncements

 

The Company does not believe recently issued but not yet effective accounting standards from ASU 2014-01 to ASU 2015-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.

 

 24 

 

 

Results of Operations

 

Comparison of Fiscal Years Ended December 31, 2015 and 2014

 

 

   For the Years Ended December 31, 
   2015   2014 
         
Revenue  $-   $3,458,295 
Cost of revenue   -    3,693,783 
Gross loss   -    (235,488)
           
Operating expenses          
Selling expenses   11,577    87,866 
General and administrative expenses   4,547,646    2,090,499 
Total operating expenses   4,559,223    2,178,365 
           
Loss from operations   (4,559,223)   (2,413,853)
           
Other income (expenses)          
Gain on disposal of subsidiaries   11,687,098    - 
Other income   868    - 
Other expenses   (3,231)   - 
Interest income   55    10,996 
Interest expenses   (3,199,031)   (3,256,660)
Total other income (expenses)   8,485,759    (3,245,664)
           
Income (loss) before income taxes   3,926,536    (5,659,517)
Income taxes benefit   1,378,700    1,402,421 
Net income (loss)  $5,305,236   $(4,257,096)
           
Other comprehensive loss          
Foreign currency translation adjustments   (6,649,917)   (147,341)
Comprehensive loss  $(1,344,681)  $(4,404,437)
           
Earnings (loss) per share - basic and diluted  $0.03   $(0.03)
           
Weighted average shares outstanding - basic and diluted   151,682,554    151,000,000 

 

The following table sets forth the results of our operations for the periods indicated in U.S. dollars and as a percentage of net sales:

  

Revenue.

 

During the fiscal year ended December 31, 2015, we did not generate any revenue, compared to revenue of $3,458,295 for the fiscal year ended December 31, 2014, a decrease of $3,458,295 or approximately 100.0%. The significant decrease was mainly because we did not sell engage in any steel trading during the fiscal year ended 2015.

 

We also did not generate any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.

  

Cost of Revenue.

 

Our cost of revenue sold consists of the cost of purchased goods. During the year ended December 31, 2015, our cost of goods sold was $nil, compared to $3,693,783 for the cost of goods sold for the year ended December 31, 2014, a decrease of $3,693,783 or approximately 100.0%. The decrease in the cost of revenue was mainly due to the lack of steel trading during the fiscal year ended 2015.

 

Gross loss.

 

Our gross margin increased from a loss of $235,488 for the fiscal year ended December 31, 2014 to $nil for the fiscal year ended December 31, 2015. The increase of the gross margin is mainly due to the lack of steel trading during the fiscal year ended December 31, 2015 and we sold steel for less than the cost of goods during the fiscal year ended December 31, 2014.

 

 25 

 

 

Operating expenses.

 

Operating expenses totaled $4,559,223 for the year ended December 31, 2015, compared to $2,178,365 for the year ended December 31, 2014, an increase of $2,380,860, or approximately 209%. The significant increase is mainly because of significant increase of general and administrative expenses offset by decrease in selling expenses.

  

Selling, general and administrative expenses.

 

Selling expenses decrease from $87,866 for the fiscal year ended December 31, 2014 to $11,577 for the fiscal year ended December 31, 2015, a decrease of $76,289, or approximately 86.83%. The decrease is mainly attributable to decrease in steel trading during the fiscal year ended December 31, 2015. 

  

Our general and administrative expenses consist of salaries, office expenses, utilities, business travel, amortization expenses (including legal expenses, accounting expenses and other professional service expenses) and stock compensation. General and administrative expenses were $4,547,646 for the fiscal year ended December 31, 2015, compared to $2,090,499 for the fiscal year ended December 31, 2014, an increase of $2,457,147 or 218 %. The significant increase is mainly because of the increase of expenses related to professional fees.

  

Loss from operations.

 

As a result of the factors described above, operating loss was $4,559,223 for the fiscal year ended December 31, 2015, compared to operating loss of $2,413,853 for the fiscal year ended December 31, 2014, an increase of operating loss of $2,145,370, or approximately 209%.

 

Other income and expenses.

 

We had a total other income of $8,485,759 for the fiscal year ended December 31, 2015, compared to a total expense of $3,245,664 for the fiscal year ended December 31, 2014. The significant increase is mainly attributable to the gain on sale of subsidiaries on December 31, 2015, which was described elsewhere in the Annual Report. We had an income of $11,687,098 from the disposal of subsidiaries for the fiscal year ended December 31, 2015, compared to $nil for the fiscal year ended December 31, 2014. Our interest income and expense were $55 and $3,199,031, respectively, for the fiscal year ended December 31, 2015, compared to interest income and expenses of $10,996 and $3,256,660, respectively, for the fiscal year ended December 31, 2014. Other income and expenses were $868 and $3,231 for the fiscal year ended December 31, 2015, compared to $nil for the fiscal year ended December 31, 2014.

  

Income tax.

 

We received an income tax benefit of $1,378,700 for the fiscal year ended December 31, 2015, compared to $1,402,421 for the fiscal year ended December 31, 2014.

 

Net income.

 

As a result of the factors described above, our net income from operations for the year ended December 31, 2015 was $5,305,236, compared to net loss of $4,257,096 for the fiscal year ended December 31, 2014, an increase in income of $9,562,332.

   

Foreign currency translation.

 

Our consolidated financial statements are expressed in U.S. dollars but the functional currency of our operating subsidiary is RMB. Results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period and equity is translated at historical exchange rates. Translation adjustments resulting from the process of translating the financial statements denominated in RMB into U.S. dollars are included in determining comprehensive income. Our foreign currency translation loss for the year ended December 31, 2015 was $6,649,917, compared to $147,341 for the year ended December 31, 2014, an increase of $6,502,576.

 

 26 

 

 

Net income (loss) available to common stockholders.

 

Net loss available to our common stockholders was $0.03 per share (basic and diluted), for the fiscal year ended December 31, 2015, compared to net loss of $0.03 per share (basic and diluted), for the year ended December 31, 2014.

  

Liquidity and Capital Resources

 

The following table sets forth a summary of our cash flows for the fiscal years indicated:

 

  

Years Ended

December 31,

 
   2015   2014 
Net cash provided by from operating activities  $4,735,142   $5,277,025 
Net cash provided by (used in) investing activities  $494,179   $(70,908)
Cash flows provided by financing activities  $4,698,162   $4,346,367 
Effect of exchange rate changes on cash and cash equivalent  $(996)  $(5,801)
Net increase (decrease) in cash and cash equivalents  $456,203   $(1,007,367)
Cash and cash equivalents - beginning of year  $56,366   $1,063,733 
Cash and cash equivalents - end of year  $512,569   $56,366 

 

We had a balance of cash and cash equivalents of $512,569 as of December 31, 2015 compared to a balance of $56,366 as of December 31, 2014. We have historically funded our working capital needs through advance payments from customers, bank borrowings, and capital from stockholders. Our working capital requirements are influenced by the state and level of our operations, and the timing of capital needed for projects.

 

Operating Activities. Net cash inflow from operating activities was $4,735,142 for the fiscal year ended December 31, 2015, compared to net cash inflow from operating activities of $5,277,025 for the year ended December 31, 2014, a decrease of $541,883. The decrease in net cash flows from operating activities was primarily contributed by the following factors:

 

  We had a gain of $11,687,098 from the disposal of our subsidiaries for the fiscal year ended December 31, 2015. We did not have such income for the fiscal year ended December 31, 2014.
     
  Changes in prepayments (combination of others receivables) provided $nil cash outflow for the fiscal year ended December 31, 2015.  In the same period of 2014, changes in prepayments (combination of others receivables) provided $884,391 cash outflow, which led to a decrease of $884,391 in net cash outflow.
     
  Changes in real estate properties and land lots under development provided $778,977 cash inflow for the year ended December 31, 2015, compared to changes in real estate properties and land lots under development contributed $6,412,919 cash inflow in the same period of 2014, which led to a decrease of $5,633,942 in net cash inflow.
     
 

Changes in accounts payable provided $nil cash outflow for the fiscal year ended December 31, 2015, compared to $4,486,912 cash outflow for the fiscal year ended December 31, 2014, which lead to a decrease of $4,486,912 in net cash outflow from operating activities. 

 

 27 

 

 

  Changes in other payables and accrued liabilities provided $2,257,051 million cash outflow for the fiscal year ended December 31, 2015, compared other payables and accrued liabilities contributed $72,260 cash outflow in the same period of 2014, which led to an increase of $2,184,791 in net cash outflow.
     
  We have net income of $5,305,236 for the fiscal year ended December 31, 2015, compared to net loss $4,257,096 in the same period of 2014, which led to an increase of $9,562,332 increase in net cash inflow.

 

Investing Activities. Net cash provided by investing activities was $494,179 for the fiscal year ended December 31, 2015, compared to net cash of $70,098 used in investing activities for the fiscal year ended December 31, 2014, represented an increase of $565,087.  The increase was primarily because of decrease of cash used for purpose of property and equipment, as well as the effect of share exchange completed in December, 2015.

 

Financing Activities. Net cash provided by financing activities was $4,698,162 for the fiscal year ended December 31, 2015, compared to net cash of $4,346,367 provided by investing activities for the fiscal year ended December 31, 2014, represented an increase of $531,795.  The increase was primarily because we did not have a repayment to related parties in the fiscal year ended December 31, 2015, compared to $47,187,464 for the same period in 2014. We also did not receive any proceeds from financial institution loans for the fiscal year ended December 31, 2015, compared to 47,187,464 for the same period in 2014.

 

Contractual Obligations

 

Upon consummation of the Second Share Exchange and Subsidiaries Sale described above in “Corporate History”, Jasper Lake Holdings Limited (“Jasper”), a related party, holds an 8% convertible promissory note in the principal amount of $75,000,000 with a maturity date of December 19, 2018. Upon maturity, Jasper may convert all or any portion of the then aggregate outstanding principal amount, together with any accrued and unpaid interest, into shares of Company’s common stock at $10.00 per share.  

 

Off-Balance Sheet Arrangements

 

We do not have any off balance sheet arrangements.

 

Recently Issued Accounting Pronouncements

 

The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.

 

Item 7A. Quantitative and Qualitative Disclosures about Market Risk.

 

We are not required to provide the information required by this Item because we are a smaller reporting company.

 

Item 8. Financial Statements and Supplementary Data.

 

Reference is made to the financial statements, listed in Item 15, which appear at pages F-1 through F-20 of this Report and which are incorporated herein by reference.

 

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

 

None.

 

 28 

 

 

Item 9A. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended (“Exchange Act”), the Company carried out an evaluation, with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) (the Company’s principal executive officer) and Chief Financial Officer (“CFO”) (the Company’s principal financial and accounting officer), of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act, is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including the Company’s CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

 

Management's Annual Report on Internal Control Over Financial Reporting.

 

The management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Our internal control system was designed to, in general, provide reasonable assurance to the Company’s management and Board regarding the preparation and fair presentation of published financial statements, but because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, 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 or procedures may deteriorate.

 

Our management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2015. The framework used by management in making that assessment was the criteria set forth in the document entitled “Internal Control – Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that assessment, our management has determined that as of December 31, 2015, the Company’s internal control over financial reporting was effective.

 

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 as we are a smaller reporting company and not required to provide the report.

 

Changes in Internal Controls over Financial Reporting

 

There were no changes in our internal controls over financial reporting that occurred during the fourth quarter of the fiscal year ended December 31, 2015 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

On January 25, 2016, the Board formed and adopted charters for the Audit Committee, which consists of solely independent directors and is chaired by Harvey Leibowitz, whom the Board believes qualifies as an “audit committee financial expert,” as that term is defined in applicable regulations of the SEC. 

 

Item 9B. Other Information

 

None.

 

 29 

 

 

PART III

 

Item 10.  Directors, Executive Officers and Corporate Governance.

 

Our directors, executive officers and key employees are listed below.  The number of directors is determined by our Board of Directors.  All directors hold office until the next annual meeting of the Board or until their successors have been duly elected and qualified.  Officers are elected by the Board of Directors and their terms of office are, except to the extent governed by employment contract, at the discretion of the Board of Directors.

 

Directors and Executive Officers

 

Name   Age   Position
Xiangyao Liu   44   Chief Executive Officer, President, Secretary and Chairman of the Board
James Stuart Coleman   59   Director
Zhanhuai Cheng   68   Director
Yanliang Wu   50   Director
Yu Zong   45   Director
Harvey Leibowitz   81   Independent Director
Zhixue Liu   52   Independent Director
Tongming Wang   56   Independent Director
Romano Tio   55   Independent Director
Daniel W. Heffernan   66   Independent Director
Zhihong Su   55   Independent Director
Xin Zheng (Cindy)   37   Chief Finance Officer

 

Xiangyao Liu, President, CEO, Secretary and Chairman of the Board (age 44)

 

Mr. Xiangyao Liu served in the state-owned Materials Bureau of Hebei Province and was involved in steel and other logistics trading between 1994 and 1996. From 1996 to 2003, he invested and established the Pacific Trade and Logistics in China, served as the General Manager and engaged in the trading and logistics of steel, agricultural products and other commodities. In 2010, Mr. Liu participated in the investment of Wuhan Renhe Group Limited, which held the Wuhan Huazhing Steel Trading Center Co., Ltd. at that time, supervising logistic and trade of steel. He also started to engage in financial and security investments in Hong Kong. From 2012, Mr. Liu served as the Deputy General Manager of the Wuhan Huazhing Steel Trading Center Co., Ltd., which later became the Wuhan Yangtze Newport Logistics Co. Ltd. He supervised the transition of the steel trading renter to a residential and commercial complex which supports the warehouses and docks, led projects to bring the Steel Trading Center into the Yangluo Comprehensive Bonded Zone and Free Trade Area in Wuhan, supervised the feasibility study of the Wuhan Yangtze Newport Logistics Center and collaborated with the local government to develop the Yangluo Newport Project Plan, handling corporate structuring, strategic planning and operation management of the company.

 

From October 2010 until the date hereof, Mr. Cao is the founder and has been the CEO and President of Beijing Fuqin Zhuoyue Investment Management Co., Ltd. From August 2007 to November 2010, Mr. Cao was the Vice President and Director of Fuqin Capital Co., Ltd. Prior to his time at Fuqin Capital Co., Ltd, Mr. Cao also worked as a Manager of the Investment Banking Division of Wealth Index Capital Group Ltd. He was also affiliated businesses including Ounuo Investment Co., Ltd, Beijing Huaxin Investment Co., Ltd. and Shuoguang City.

 

Mr. Liu received his bachelor degree in Business Management from the Hebei Institute of Finance in 1994.

 

James Stuart ColemanDirector (age 59)

 

Mr. James Coleman has been the Chief Representative in the United States of Wuhan Yangtze River Newport Logistics Co, Limited since April 2015. Mr. Coleman has also been the CEO and CFO of Dream Recovery International, Inc., a drug and alcohol rehabilitation facility since January 2014. Mr. Coleman has also been a Partner of the Angel Capital Ltd, an angel capital investment in start-up companies since 2012. Since 2006, Mr. Coleman has served as an Associate Broker at Bond New York Properties, LLC, specializing in Commercial Real Estate in New York

 

Mr. Coleman received his Bachelor Degree in Arts from Allegheny College in 1978. He is also a licensed Associate Broker in the State of New York.

 

 30 

 

 

Mr. Zhanhuai Cheng, Director (age 68)

 

Mr. Zhanhuai Cheng has served as the Chief Technical Officer of the Wuhan Yangtze Newport Logistics Co. Ltd since 2012 and is responsible for the planning and construction of the logistics warehouse, dock berths, and supporting residential and commercial buildings.   From 2000 to 2007, Mr. Cheng was employed by the Wuhan City Port Authority Officers and was in charge of port construction planning. During his term with the office, Mr. Cheng worked with the various ports along the Yangtze River and accumulated great experience of port planning, wharf construction, operation and management. He helped various agencies of the Wuhan government to complete the transformation of the water network, port construction, etc., and obtained the title of advanced workers of Wuhan City. During his service, Mr. Cheng also directed the planning, development and construction of the Qingshan Port, Yangluo Port, Yangsi Port and other terminals in Wuhan.

 

From 1993 to 2000, Mr. Cheng served as the Officer of Wuhan Light Rail Construction and was in charge of resource development, project design, tendering and construction work. During his term of office, Mr. Cheng has contributed greatly to metro line planning and rail transit construction in Wuhan. These are recognized by the Wuhan Government with a number of honorary titles issued to him.

 

Mr. Cheng has also previously worked in the Wuhan Iron and Steel Limited, focusing on the production of railway and other construction, port transportation projections. Mr. Cheng was also employed by the Ministry of Railways Bridge Engineering Bureau and served as a staff analyst and later on a vice dean of an academic institute, contributing to many projects and achieving great success.

 

Mr. Yanliang Wu, Director (age 50)

 

Mr. Yanliang Wu has served as the Deputy General Manager of Wuhan Yangtze Newport Logistics Co. Ltd. since 2012, and is in charge of the company's indoor storage, outdoor yards, approval, planning and construction of warehouses, and operation management. Mr. Wu worked for Alpha Logistics Co, Ltd. in Montreal, Canada from 1997 to 2003, served as the Head of Logistics and coordinated the construction of logistics network of the company in North America and the Pacific Rim. From 2002 to 2012, he was in charge of the company’s business development in the logistics industry in Mainland China, as well as leading the opening its Shanghai branch. From 1986 to 1996, Mr. Wu worked in the head office of the state-owned Wuhan Metal Materials Corporation, serving as the Minister of Management and General Manager of Commodity Trading. During his employment, he received two accolades for his personal achievement in 1990 and 1992. He was also certified as a Senior Economist in China in September 1994.

 


Mr. Wu received his bachelor degree in science in Logistics from Huazhong University of Science and Technology from in 1986.

 

Mr. Yu Zong, Director (age 45)

 

Mr. Yu Zong has served as the Deputy General Manager of Wuhan Yangtze Newport Logistics Co. Ltd. since 2012, in charge of the development, construction and management of the real estate. Mr. Zong became its General Manager and legal representative in October 2015. From 2009 to 2012, he worked in Wuhan Dingxin Ltd as the Deputy General Manager and Chief Engineer, leading the construction and management of the “Mocha Town” Phase II Development Project.  From 2007 to 2009, Mr. Zong worked in the China Railway Group Wuhan Properties Limited, as the Minister of Engineering and Minister of Planning Division, and participated in a large real estate project which had a total investment of six (6) billion RMB.   From 2003 to 2006, Mr. Zong worked in Hubei Jiuding Ltd as the Deputy General Manager and Chief Engineer and was responsible for construction and management of a villa project which occupied an area of 80,000 square meters and a total construction area of 70,000 square meters. During the construction period, his duties included preliminary design, construction report, project quality control, compliance. From 2000 to 2002, Mr. Zong worked as the Project Manager forPace Home Development Inc. in Canada, providing consulting services for various types of construction projects.  Mr. Zong also previously worked in the Wuhan Institute of Architecture Design Institute.

 

Mr. Zong obtained his bachelor degree in Civil Engineering in 1993 from Wuhan University. He also obtained his Master degree in Engineering from the University of British Columbia in 2004.

 

 31 

 

 

Mr. Harvey Leibowitz, Independent Director, Chair of the Audit and Compensation Commmittees (age 81)

 

Mr. Leibowitz has been a director of Asta Funding, Inc. since January 2000. Mr. Leibowitz has served as a Senior Vice President of Sterling National Bank since June 1994. Prior to June 1994, Mr. Leibowitz was employed as a Senior Vice President and Vice President of several banks and financial institutions since 1963. As a result of these and other professional experiences, Mr. Leibowitz possesses particular knowledge and experience in financial services and management which strengthens the Board’s collective qualifications, skills and experience.

 

Mr. Zhixue Liu, Independent Director (age 52)

 

Mr. Zhixue Liu obtained his PhD in Management and is currently a professor at the School of Management of the Huazhong University of Science & Technology. Also currently the Deputy Director of the Product Operations and Logistics Management Department, Mr. Liu is one of the main drafters of The People’s Republic of China National Standard - Classification and Index of Logistics Enterprises and The People's Republic of China National Standard - Logistics Terminology. He is also a member of the National Ministry of Education Logistics Specialty Guidance Steering Committee, Board of Trustee of the National Natural Science Fund Committee Management Division, Committee of the National Professional Commission for Certification of Logistics Specialist, Deputy Secretary General of the China Logistics Technology Association, Executive Director of the China Society of Logistics, and Executive Director of the China Marketing Association.


Mr. Liu obtained his Bachelor of Logistics degree from Huazhong University of Science & Technology in 1986. After his graduation, he serves as assistant, lecturer, associate professor, professor and doctoral tutor in the University, and focuses on researching and teaching on logistics management, supply chain management, international trade, international business operations and marketing. Recently, he has published of six (6) representative works, including the Modern Logistics Handbook, and more than forty (40) papers in domestic and foreign mainstream journals. He also hosted and participated in academic forums on Research on Model of Supply Chain Logistics Management and Case Studies on China's Auto Supply Chain and other studies initiated by the National Natural Science Foundation. Mr. Liu also led researches on the Shandong Weifang City Logistics Development Strategy Plan, Planning of Jiangyin Yangtze Port Integrated Logistics Zone and Logistics Solutions for Dongfeng Vehicles, Study on Transition of Wuhan Iron and Logistics Transportation Companies and a number of other logistics management topics. Mr. Liu and his research have been awarded the Outstanding Scientific Achievement Award under China’s "Ninth Five-Year" key scientific and technological projects, and Second Place in the National Commerce Scientific Advancement Award.

 

Mr. Tongmin Wang, Independent Director (age 56)

 

Mr. Tongmin Wang has worked for Wuhan Iron and Steel Limited and Wuhan Port Terminal Foreign Trade Co., Ltd. since 2007. He has served as the Deputy General Manager of the Office of Corporate Integration, Chief Administrative Officer, Director of Cargo Unloading and Chief Engineer of Logistical Equipment. Mr. Wang worked for Wuhan Port Group from 1992 to 2007. During this period, he held positions include Deputy Administrate Officer, Deputy Director of the Wuhan Water Company; Director of the Wuhan Port Mechanical Company, Manager of the Office of the Corporate Integration, Director of the Cargo Unloading Division and etc. From 1981 to 1992, Mr. Wang worked for the Wuhan Port Machinery Plant of the Ministry of Transportation in China.

 

Mr. Wang possesses professional knowledge and more than three decades of experience in management of a port. He is familiar with the logistics industry and takes a practical approach in the organization and management of cargo loading/unloading. He is able to utilize his expertise to solve practical problems involving the day-to-day operations at port terminal.

 

He received bachelor degree in Mechanical Engineering from Wuhan Institute of Maritime and Master Degree in Industrial Management from the Chinese Academy of Social Sciences in 1998.

 

 32 

 

 

Romano Tio, Independent Director, Chair of the Social Media Committee (age 55)

 

Mr. Tio has served as the Managing Director at RM Capital Management LLC, a boutique real estate investment and advisory firm since June 2009. Earlier in his career, Mr. Tio was involved in the real estate sales and brokerage business for 25 years. From August 2003 to December 2007, Mr. Tio was a Managing Director at Carlton Group Ltd., a New York boutique real estate investment banking firm where he was involved in over $3.5 billion worth of commercial real estate transactions. From January 2008 to May 2009, Mr. Tio served as a Managing Director and co-head of the commercial real estate efforts of HCP Real Estate Investors, LLC, an affiliate of Harbinger Capital Partners Funds, a $10 billion plus private investment located in New York. Mr. Tio has also served as one of independent directors of Bluerock Residential Growth REIT in New York since January 2009. Moreover, Mr. Tio has served as an independent Trustee of the Board of Trustees of Total Income (plus) Real Estate Fund, a closed-end interval fund organized by Bluerock, since July 2012.

 

Mr. Tio received a B.S. degree in Biochemistry in 1982 from Hofstra University located in Hempstead, New York.

 

Daniel W. Heffernan, Independent Director Chair of the Nomination and Board Oversight Committees (age 55)

 

Mr. Heffernan has served as the Principal of HRK Associates, specializing in credit enhanced finance since 1998 . Prior to his position at HRK, from 1973 to 1986, Mr. Heffernan served as an officer at New York Life Insurance Company. From 1986 to 1998, Mr. Heffernan was employed as an officer at Jhminer, Co. Ltd in New York. Mr. Heffernan has more than thirty years of financial experience in the highly specialized niche market of mitigation of risk through the use of insurance and reinsurance related financial products. He has provided services to clients operating throughout the U.S. and in the international marketplace, leveraging his experience in providing credit enhanced, customized financial solutions that provide a distinctive bridge to the capital markets.

 

Mr. Heffernan is actuarially trained and has previously worked for New York Life Insurance Company, where he ran the Pension Department and supervised its two hundred eighty employees, and MINET/MIPI Brokers. While at New York Life, he consulted with a client base in excess of 5,000 corporations and unions, providing services ranging from structuring to administration.

 

Mr. Daniel W. Heffernan obtained his bachelor degree in theology from New York Shadowbrook Jesuit Seminary in 1972.

 

Zhihong SuIndependent Director, Chair of the Governance and Human Resources Committee (age 55)

 

Mr. Su has served as the managing partner of Beijing Hengjun Law Firm since December 2001, practicing in areas such as securities, litigation, general corporate and banking. Mr. Su started his career as in-house counsel for China International Trust and Investment Corporation (“CITIC”) in December 1984, responsible for legal affairs of overseas investments. In January 1990, Mr. Su was sent to station at the Washington DC-based law firm Arnold and Porter LLP as a foreign lawyer to oversee a full spectrum of legal matters of CITIC’s subsidiaries in the United States, namely, CITIC Steel Group, CITIC Buffalo Tungsten Company, CITIC Seattle Woodland and CITIC Florida Real Estate Co. Ltd. During his stay in Washington from 1990 to June 1996, he worked on a number of matters involving corporate and securities law. Upon returning to China in July 1996, Mr. Su worked for the Law Offices of Jiahe as one of the founding members and as an attorney until November 2001.

 

Mr. Su earned his bachelor’s degree in laws (LLB) from China University of Political Science and Law where he had taught for a year after graduation before becoming a qualified Chinese lawyer in the same year.

 

Xin Zheng (Cindy), Chief Financial Officer (age 37)

 

Ms. Zheng joined the Company in December 2009. Since September 2010, she has been employed in the Company’s finance department where she has had oversight of the Company’s accounting and financing matters. Prior to that, Ms. Zheng was employed as Marketing Director for both XingtaiZhongdingJiye Real Estate Development Co., Ltd. and HebeiZhongding Real Estate Development Co., Ltd, which through certain contractual arrangements, the Company controls. As Marketing Director, Ms. Zheng’s responsibilities included oversight of the Company’s marketing efforts. From May 2006 to December 2009, Ms. Zheng was employed in the Lighting Division of Philips, a Netherlands based fortune 500 company. Philips has generated approximately $9 billion dollars in revenue in China, where she was responsible for budgeting and financial planning for the northern China operations of Philip’s lighting division. From April 2004 to May 2006, Ms. Zheng was employed by Mercer Consulting in China where she engaged in management consulting and financial modeling for a variety of companies, including state and privately owned business. Ms. Zheng graduated from University of Bradford in the United Kingdom in February 2004 with a Master Degree in Finance Management.

 

 33 

 

 

Term of Office

 

Our directors are appointed for a one-year term to hold office until the next annual general meeting of our shareholders or until removed from office in accordance with our bylaws. Our officers are appointed by our board of directors and hold office until removed by the board.

 

Family Relationships

 

There are no family relationships between any of our directors or executive officers and any other directors or executive officers.

 

Involvement in Certain Legal Proceedings

 

To the best of our knowledge, none of our directors or executive officers has, during the past ten years:

 

 

been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

     
  had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that time;
     

been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;

 

been found by a court of competent jurisdiction in a civil action or by the Commission or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;
     

been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

     
been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

 

Except as set forth in our discussion below in “Certain Relationships and Related Transactions,” none of our directors 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 Commission.

 

 34 

 

 

Code of Ethics

 

We have adopted a code of ethics as of the date of this Annual Report that applies to our principal executive officer, principal financial officer, directors and principal accounting officer as well as our employees. Our standards are in writing and are to be posted on our website at www.yerr.com.cn at a future time. The following is a summation of the key points of the Code of Ethics we adopted:

 

  Honest and ethical conduct, including ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
     
  Full, fair, accurate, timely, and understandable disclosure reports and documents that a small business issuer files with, or submits to, the Commission and in other public communications made by our Company;
     
  Full compliance with applicable government laws, rules and regulations;
     
  The prompt internal reporting of violations of the code to an appropriate person or persons identified in the code; and
     
  Accountability for adherence to the code.

 

Corporate Governance

 

The business and affairs of the company are managed under the direction of our Board. We have conducted Board meetings regularly since inception. Each of our directors has attended all meetings either in person or via telephone conference, or through written consent for special meetings. In addition to the contact information in this Annual Report, the Board has adopted procedures for communications to the officers and directors as of January 28, 2016. Each stockholder will be given specific information on how he/she can direct communications to the officers and directors of the Company at our annual stockholders meetings. All communications from stockholders are relayed to the members of the Board.   

 

Board Leadership Structure and Role in Risk Oversight

 

Our Board is primarily responsible for overseeing our risk management processes. The Board receives and reviews periodic reports from management, auditors, legal counsel, and others, as considered appropriate regarding our company’s assessment of risks. The Board focuses on the most significant risks facing our company and our company’s general risk management strategy, and also ensures that risks undertaken by our company are consistent with the Board’s appetite for risk. While the Board oversees our company’s risk management, management is responsible for day-to-day risk management processes. We believe this division of responsibilities is the most effective approach for addressing the risks facing our company and that our Board leadership structure supports this approach.

 

The audit committee, which was formed on June 28, 2016, assists our Board in its general oversight of, among other things, the company’s policies, guidelines and related practices regarding risk assessment and risk management, including the risk of fraud. As part of this endeavor, the audit committee reviews and assesses the company’s major financial, legal, regulatory, environmental and similar risk exposures and the steps that management has taken to monitor and control such exposures. The audit committee also reviews and assesses the quality and integrity of the company’s public reporting, the company’s compliance with legal and regulatory requirements, the performance and independence of the company’s independent auditors, the performance of the company’s internal audit department, the effectiveness of the company’s disclosure controls and procedures, and the adequacy and effectiveness of the company’s risk management policies and related practices.

 

 35 

 

 

Committees of the Board of Directors

 

On January 25, the Board formed and adopted charters for six standing committees: Audit Committee, Compensation Committee, Nomination Committee, Governance and Human Resources Committee, Board Oversight Committee, Social Media Committee (collectively the “Committees”). Each Committee consists of only independent directors of the Company. The Board also adopted charter for the Regulatory, Compliance and Government Affairs Committee, for which the charter will be implemented once the committee is formed. The Company believes that the adoption of these charters and formation of these Committees are necessary for the implementation of effective internal control and oversight and a significant step towards remediating any material weakness the Company currently has. 

 

  Audit Committee: Harvey Leibowitz (Chair), Zhihong Su, Daniel W. Heffernan, Romano Tio, Tongmin Wang
     
  Compensation Committee: Harvey Leibowitz (Chair), Zhihong Su, Zhixue Liu, Romano Tio, Daniel W. Heffernan
     
  Nomination Committee: Daniel W. Heffernan (Chair), Harvey Leibowitz, Zhixue Liu, Romano Tio, Zhihong Su
     
  Governance and Human Resources Committee: Zhihong Su (Chair), Harvey Leibowitz, Romano Tio, Daniel W. Heffernan, Tongmin Wang
     
  Board Oversight Committee: Daniel W. Heffernan (Chair), Zhixue Liu, Harvey Leibowitz, Romano Tio, Zhihong Su
     
  Social Media Committee: Romano Tio (Chair), Harvey Leibowitz, Zhihong Su, Daniel W. Heffernan, Tongmin Wang

 

The Board also adopted an insider trading policy that allows insiders to sell securities of the Company pursuant to pre-arranged trading plans.

 

This insider trading policy was put in place because effective October 23, 2000, the Securities and Exchange Commission (the “SEC”) adopted rules related to insider trading. One of these rules, Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, provides an exemption to the insider trading rules in the form of an affirmative defense. Rule 10b5-1 recognizes the creation of formal programs under which executives and other insiders may sell the securities of publicly traded companies on a regular basis pursuant to written plans that are entered into at a time when the plan participants are not aware of material non-public information and that otherwise comply with the requirements of Rule 10b5-1.

 

The Board also adopted a written disclosure policy, which applies to all directors, officers and employees of the Company and its wholly owned subsidiaries, to ensure that communications to the investing public about the Company are timely, factual and accurate and broadly disseminated in accordance with all applicable legal and regulatory requirements.

 

In addition, the Board adopted a whistleblower procedure that provides the Audit Committee the responsibility to ensure proper procedure of the receipt, retention, and treatment of complaints about the Company’s accounting, internal accounting controls, or auditing matters. The Audit Committee must also provide for confidential, anonymous submission by the Company’s employees of concerns about questionable accounting or auditing matters.

 

Lastly, the Board adopted a corporate governance policy for its website content, as well as procedures for shareholder’s communication with Directors. With all of the above referenced charters and procedures in place, the Company is committed to corporate governance practices that is in compliance with applicable laws, regulations and exchange requirements.

 

Below describes the function of each committee the Company formed and adopted charters for as of the date of this Annual Report:

 

Audit Committee

 

The Audit Committee shall make such examinations as are necessary to monitor the corporate financial reporting and external audits of the Company and its subsidiaries; to provide to the Board the results of its examinations and recommendations derived therefrom; to outline to the Board improvements made, or to be made, in internal accounting controls; to nominate independent auditor; and to provide to the Board such additional information and materials as it may deem necessary to make the Board aware of significant financial matters requiring Board attention.

 

 36 

 

 

Compensation Committee

 

The purpose of the Compensation Committee is to review and make recommendations to the Board regarding all forms of compensation to be provided to the executive officers and directors of the Company, including stock compensation and loans, and all bonus and stock compensation to all employees.

 

Nomination Committee

 

The purpose of the Nomination Committee shall be to review and make recommendations to the Board regarding matters concerning corporate governance; review the composition of and evaluate the performance of the Board; recommend persons for election to the Board and evaluate director compensation; review the composition of committees of the Board and recommend persons to be members of such committees; review and maintain compliance of committee membership with applicable regulatory requirements; and review conflicts of interest of members of the Board and corporate officers.

 

Governance and Human Resources Committee

 

The Governance and Human Resources Committee shall be is responsible for (1) developing Company’s approach to the Board and corporate governance issues; (2) helping to maintain an effective working relationship between the Board and management; (3) exercising, within the limits imposed by the by-laws of the Company, by applicable laws, and by the Board, the powers of the Board for the management and direction of the affairs of the Company during the intervals between meetings of the Board; (4) reviewing and making recommendations to the Board for the appointment of senior executives of the Company and for considering their terms of employment; (5) reviewing succession planning, matters of compensation; (6) recommending awards under the Company’s long term and short term incentive plans; (7) assuming the role of administrator, whether by delegation or by statute, for the corporate-sponsored registered pension plans and the Supplementary Executive Retirement Plan of the Company and its wholly-owned subsidiaries and any future, additional or replacement plans relating to the plans; and (8) monitoring the investment performance of the trust funds for the plans and compliance with applicable legislation and investment policies.

 

Board Oversight Committee

 

Board Oversight Committee shall assist the Board Oversight Committee and the Board in the exercise of its responsibilities, particularly by defining the scope of the Committee’s authority in respect of risk oversight matters delegated to it by the Board.

 

Social Media Committee

 

The Social Media Committee shall oversee the social media strategy initiatives for the Company pursuant to Regulation FD. The Committee shall 1) provide compliant Regulation FD strategic leadership for social media through the alignment of social media strategies and activities with enterprise strategic objectives and processes; 2) establish and maintain corporate policies with respect to use of social media for both process-driven social engagements, as well as for use of social media by employees for participating in social conversations (e.g. blogging and Tweeting by subject matter experts); 3) prioritize social media initiatives and deliver final approvals and recommendations on proceeding with proposed social media projects, including process, technology, and organizational project; 4) ensure open communication between the social media department and the other functional units of the Company so as to promote collaborative strategies, planning, and implementation.

 

Section 16(a) Beneficial Ownership Reporting Compliance

 

Under Section 16(a) of the Exchange Act, our directors and certain of our officers, and persons holding more than 10 percent of our common stock are required to file forms reporting their beneficial ownership of our common stock and subsequent changes in that ownership with the United States Securities and Exchange Commission.

 

 37 

 

 

Based solely upon a review of copies of such forms filed on Forms 3, 4, and 5, and amendments thereto furnished to us, we believe that as of February 1, 2016, our executive officers, directors and greater than 10 percent beneficial owners have complied on a timely basis with all Section 16(a) filing requirements.

 

Item 11. Executive Compensation.

 

Summary Compensation Table

 

The Summary Compensation Table below sets forth information regarding the compensation awarded to or earned by the company’s executive officers for our fiscal years ended December 31, 2015 and 2014. 

 

Name  Year  

Salary

($)

  

Bonus

($)

  

Securities-based Compensation

($)

  

All other compensation

($)

  

Total

($)

 

Xiangyao Liu

   2015    0    -    -    -    0 
Chief Executive Officer(1)   2014    0    -    -    -    0 
                               

Jianfeng Guo
Former Chief Executive Officer,

   2015    -     -    -    -    0 
Former Chairman of the Board (2)   2014    -      -    -    -    0 
                          
Longlin Hu   2015    37,500                   37,500 
Former Chief Executive Officer(3)   2014    90,000                   90,000 
                               
Xin “Cindy” Zheng   2015    54,000    -    -    -    54,000 

Chief Financial Officer

   2014    54,000    -    -    -    54,000 

 

(1)On December 19, 2015, Company acquired Energetic Mind and its wholly-owned subsidiaries and in connection with that transaction, Mr. Liu was appointed as our President, Chief Executive Officer, Secretary and Chairman of the Board. The amounts in this table reflect compensation awarded or paid by Energetic Mind and its subsidiaries to Mr. Liu in fiscal year 2014 and 2015. As of the date of this Annual Report, President, Chief Executive Officer, Secretary and Chairman of the Board.
   
(2)Mr. Guo was appointed as our President and Chief Executive Officer on June 1, 2015 and resigned as an executive officer and director on December 19, 2015 as a result of the transaction describe above in (1).
   
(3)Mr. Hu resigned from all his officer and director positions as president and chief executive office of the Company and as a member of the board of directors on June 1, 2015. Prior to his resignation, Mr. Hu served as the President and Chief Executive Officer and a member of the Board of Directors from March 1, 2011.

 

 38 

 

 

Employment Agreements

 

We have employment agreements with all of our director and officers except Xiangyao Liu.

 

Option Grants

 

We had no outstanding equity awards as of the end of fiscal year 2015.

 

Option Exercises and Fiscal Year-End Option Value Table

 

There were no stock options exercised during fiscal 2015 by the executive officers.

 

Long-Term Incentive Plans and Awards

 

There were no awards made to a named executive officer in fiscal 2015 under any long-term incentive plan.

 

Employment Contracts, Termination of Employment, Change-in-Control Arrangements

 

We have no other employment agreements with any of our executive officers.

 

Director Compensation Table

 

The following table sets forth the compensation received by each of our Directors.

 

Name  Fees
Earned
or Paid
in Cash
($)
   Stock
Awards
($)
   Option
Awards
($)
   Non-Equity
Incentive Plan
Compensation
($)
   Non-Qualified
Deferred
Compensation
($)
   All Other
Compensation
($)
   Total ($) 
Xiangyao Liu
Chairman of the Board
                            
James Stuart Coleman
Executive Director(1)
   2,301                        2,301 
Zhanhuai Cheng
Executive Director (1)
   789                        789 
Yanliang Wu
Executive Director (1)
   789                        789 
Yu Zong
Executive Director(1)
   789                        789 
Harvey Leibowitz
Independent Director (2)
   2,104                        2,104 
Zhixue Liu
Independent Director(3)
   789                         
Tongmin Wang
Independent Director(3)
   789                        789 
Daniel W. Heffernan
Independent Director (4)(5)
                            
Romano Tio
Independent Director(4)(5)
                            
Zhihong Su
Independent Director(3)(5)
                            
Jianfeng Guo (6)                            
Yaojun Liu (6)                            
Shan Cui (6)                            
Ran Liu (6)                            
Yau On Tse (6)                            
Longlin Hu (7)                            

 

(1)As employee directors, James Coleman will be provided with cash compensation of $70,000 per year. Yanliang Wu, Yu Zong and Zhanhuai Cheng will be provided with cash compensation of $24,000 per year, payable monthly.

 

 39 

 

 

(2)As an independent director and Chair of the Audit Committee, Harvey Leibowitz will be provided with the following compensation: (a) subject to the Board’s approval, the Company will issue each a total of 20,000 of restricted common stock for services rendered to the Company, with an annual compensation in cash of $48,000, payable quarterly; and (b) during the directorship term, the Company will reimburse the independent directors for all reasonable out-of-pocket travel expenses incurred by the director in attending any in-person meetings, provided that the director complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
   
(3)As independent directors, Zhihong Su, Tongmin Wang and Zhixue Liu will be provided with the following compensation: (a) subject to the Board’s approval, the Company will issue each a total of 10,000 of restricted common stock for services rendered to the Company, with an annual compensation in cash of $24,000, payable monthly; and (b) during the directorship term, the Company will reimburse the independent directors for all reasonable out-of-pocket travel expenses incurred by the director in attending any in-person meetings, provided that the director complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
   
(4)As independent directors, Daniel W. Heffernan and Romano Tio will be provided with the following compensation: (a) subject to the Board’s approval, the Company will issue each a total of 15,000 of restricted common stock for services rendered to the Company, with an annual compensation in cash of $48,000, payable quarterly; and (b) during the directorship term, the Company will reimburse the independent directors for all reasonable out-of-pocket travel expenses incurred by the director in attending any in-person meetings, provided that the director complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
   
(5)Individuals were appointed as members of the Board in January, 2016.
   
(6)Individuals resigned as members of the Board on December 19, 2015.
   
(7)Mr. Hu resigned as member of the Board on June 1, 2015.

 

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 

The following table sets forth certain information regarding our shares of common stock beneficially owned as of February 1, 2016, for (i) each stockholder known to be the beneficial owner of 5% or more of the Company’s outstanding shares of common stock, (ii) each named executive officer and director, and (iii) all executive officers and directors as a group. A person is considered to beneficially own any shares: (i) over which such person, directly or indirectly, exercises sole or shared voting or investment power, or (ii) of which such person has the right to acquire beneficial ownership at any time within 60 days through an exercise of stock options or warrants. Unless otherwise indicated, voting and investment power relating to the shares shown in the table for our directors and executive officers is exercised solely by the beneficial owner or shared by the owner and the owner’s spouse or children.

  

 40 

 

 

Unless otherwise specified, the address of each of the persons set forth below is in care of the Company, at the address of: c/o 183 Broadway, Suite 5, New York, NY 10007

 

Name of Beneficial Owner  Amount and Nature of Beneficial Ownership   Percent of Common Stock 
Xiangyao Liu, CEO, President, Secretary and Chairman of the Board (1)   91,240,000    52.97%
James Stuart Coleman, Executive Director(2)   4,130,000    2.40%
Zhanhuai Cheng, Executive Director    0    0%
Yanliang Wu, Executive Director    0    0%
Yu Zong, Executive Director   0    0%
Harvey Leibowitz, Independent Director    0    0%
Zhixue Liu, Independent Director   0    0%
Tongmin Wang, Independent Director   0    0%
Daniel W. Heffernan, Independent Director    0    0%
Romano Tio, Independent Director   0    0%
Zhihong Su, Independent Director   0    0%
Zhanhuai Cheng, Executive Director    0    0%
All directors and executive officers as a group (12 person)   95,370,000    55.37%
5% Shareholders:          
Jasper Lake Holdings Limited (1)   91,240,000    52.97%
Crestlake Holdings Limited (3)   16,600,000    9.64%
Fortunate Drift Limited (4)   16,600,000    9.64%
Majestic Symbol Limited (5)   16,600,000    9.64%
Prolific Lion Limited (6)   14,575,348    8.46%

 

(1)Ms. Liu has investing and dispositive power of shares beneficially owned by Jasper Lake Holdings Limited.
   
(2)Ms. Coleman owns all of the membership interest of Best Future Investment LLC., which owns 4,130,000 shares of the Company’s common stock. Mr. Coleman may be deemed to be the beneficial owner of the shares of our common stock held by Best Future Investment LLC. 
   
(3)Yanliang Hu has investing and dispositive power of shares beneficially owned by Crestlake Holdings Limited.
   
(4)Linyu Cheng has investing and dispositive power of shares beneficially owned by Fortunate Drift Limited.
   
(5)Long Zhao has investing and dispositive power of shares beneficially owned by Majestic Symbol Limited.
   
(6)Jianfeng Guo has investing and dispositive power of shares beneficially owned by Prolific Lion Limited.

  

Item 13. Certain Relationships and Related Transactions, and Director Independence.

 

Transactions with Related Persons

 

The following includes a summary of certain transaction in the fiscal 2015, in which we were or are to be a participant and the amount involved exceeded or exceeds $120,000 and in which any related person had or will have a direct or indirect material interest (other than compensation described in Item 11 of this Report). We believe the terms obtained or consideration that we paid or received, as applicable, in connection with the transactions described below were comparable to terms available or the amounts that would be paid or received, as applicable, in arm’s-length transactions.

 

On December 19, 2015, the Company entered into certain share exchange agreements with Energetic Mind and all the shareholders of Energetic Mind whereby the Company acquired 100% issued and outstanding ordinary shares of Energetic Mind from these shareholders, including Xiangyao Liu, who was appointed as Company’s executive officer and Chairman of the Board upon completion of the transaction.  As part of the transaction, the Company agreed to issue to Jasper Lake Holdings Limited, an entity Mr. Liu has investing and dispositive power of, an 8% convertible promissory note in the principal amount of $150,000,000 (the “Note”).

 

 41 

 

 

Subsequently on December 31, 2015, the Company entered into certain stock purchase and business sale agreements with Kirin Global Enterprises, Inc., a California corporation and an entity controlled by a former officer and director of the Company whereby the Company sold its interest in certain subsidiaries for an aggregate of $75,000,002.00. Pursuant to the terms of the agreement for this transaction, Jasper agreed to finance Kirin Global $75,000,000 for a partial payment of transaction through reduction of the Note by $75,000,000. As a result of this transaction, the outstanding balance due to Jasper under the Note is $75,000,000.00 plus any accrued interest. The issuance of the the Note at the closing of the transaction has been determined to be exempt from registration under the Securities Act in reliance on Section 4(2) of the Securities Act.

 

Director Independence

 

The Board has adopted a formal set of Director Independence Guidelines with respect to the determination of director independence, which either conform to or are more exacting than the independence requirements of the NYSE listing standards, and the full text of which will soon to be available on our Web site at www.yerr.com.cn, under Investor Relations. In accordance with these Guidelines, a director or nominee for director must be determined to have no material relationship with the Company other than as a director. The Guidelines specify the criteria by which the independence of our directors will be determined, including strict guidelines for directors and their immediate family members with respect to past employment or affiliation with the Company or its independent registered public accounting firm. The Guidelines also prohibit Audit and Compensation Committee members from having any direct or indirect financial relationship with the Company, and restrict both commercial and not-for-profit relationships of all directors with the Company. Directors may not be given personal loans or extensions of credit by the Company, and all directors are required to deal at arm's length with the Company and its subsidiaries, and to disclose any circumstance that might be perceived as a conflict of interest.

 

As of February 1, 2016, our Board is composed of eleven members, of which six directors are independent directors. The six independent directors are Harvey Leibowitz, Daniel W. Heffernan, Romano Tio, Zhihong Su, Tongmin Wang and Zhixue Liu. In addition, as indicated above, each of our six board committee is composed entirely of independent directors, including the chairperson of the audit committee and compensation committees. We believe that having a majority of independent directors that make up our Board and committees exclusively of independent directors benefits the company, as well as our stockholders. Company also believes that director independence, formation of board committees and adoption of committee charters address any material weakness the Company currently had in the past.

 

Item 14. Principal Accounting Fees and Services.

 

The following is a summary of the audit fees for the fiscal years ended December 31, 2015 and 2014.

 

Fee Category  2015   2014 
Audit fees  $120,000   $50,000 
Audit-related fees   -    - 
Tax fees   -    - 
Other fees   -    - 
Total Fees  $120,000   $50,000 

 

All of the services provided and fees charged by our independent registered accounting firm were approved by the board of directors and audit committee.

 

 42 

 

 

Audit Fees

 

For the Company’s fiscal years ended December 31, 2015 and December 31, 2014, we were billed approximately $120,000 and $50,000, respectively, for professional services rendered for the audit and reviews of our financial statements.

 

Audit Related Fees

 

The Company did not incur any audit related fees, other than the fees discussed in Audit Fees, above, for services related to our audit for the fiscal years ended December 31, 2015 and December 31, 2014.

 

Tax Fees

 

For the Company’s fiscal years ended December 31, 2015 and December 31, 2014, we did no incur any fees for professional services rendered for tax compliance, tax advice, and tax planning.

 

All Other Fees

 

The Company did not incur any other fees related to services rendered by our principal accountant for the fiscal years ended December 31, 2015 and December 31, 2014.

 

Pre-Approval of Services

 

The Audit Committee pre-approves all audit and permissible non-audit services provided by the independent accountants. These services may include audit services, audit-related services, tax services and other services. The Audit Committee has adopted a written policy for the pre-approval of services provided by the independent accountants, under which policy the Audit Committee generally pre-approves services for up to one year and any pre-approval is detailed as to the particular service or category of services and is subject to a specific budget. In addition, the Audit Committee may also pre-approve particular services on a case-by-case basis. For each proposed service, the independent accountant is required to provide detailed back-up documentation at the time of approval. The Audit Committee may delegate pre-approval authority to one or more of its members. Such a member must report any decisions to the Audit Committee at the next scheduled meeting. 

 

PART IV

 

Item 15. Exhibits, Financial Statement Schedules.

 

(a) The following documents are filed as part of this report:

 

(1)   Financial Statements:

 

The audited balance sheet of the Company as of December 31, 2015 and December 31, 2014, the related condensed statements of operations, changes in stockholders’ deficiency and cash flows for the years then ended, the footnotes thereto, and the report of Dominic KF Chan & Co., independent auditors, are filed herewith.

 

(2)   Financial Schedules:

 

None

 

Financial statement schedules have been omitted because they are either not applicable or the required information is included in the financial statements or notes hereto.

 

(3)   Exhibits:

 

The exhibits listed in the accompanying index to exhibits are filed or incorporated by reference as part of this Report.

 

(b) The following are exhibits to this Report and, if incorporated by reference, we have indicated the document previously filed with the SEC in which the exhibit was included.

 

 43 

 

 

Certain of the agreements filed as exhibits to this Report contain representations and warranties by the parties to the agreements that have been made solely for the benefit of the parties to the agreement. These representations and warranties:

 

  may have been qualified by disclosures that were made to the other parties in connection with the negotiation of the agreements, which disclosures are not necessarily reflected in the agreements;
     
  may apply standards of materiality that differ from those of a reasonable investor; and
     
  were made only as of specified dates contained in the agreements and are subject to subsequent developments and changed circumstances.

 

Accordingly, these representations and warranties may not describe the actual state of affairs as of the date that these representations and warranties were made or at any other time. Investors should not rely on them as statements of fact.

 

Exhibit Number   Description
     
2.1   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Crestlake Holdings Limited (incorporated by reference to Exhibit 2.1 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
2.2   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Start Well International Limited (incorporated by reference to Exhibit 2.2 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
2.3   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Majestic Symbol Limited (incorporated by reference to the Exhibit 2.3 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
2.4   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Best Future Investment LLC (incorporated by reference to the Exhibit 2.4  filed on Current Report to Form 8-K with the SEC on December 21, 2015)
2.5   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Fortunate Drift Limited (incorporated by reference to the Exhibit 2.5 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
2.6   Share Exchange Agreement, dated December 19, 2015, by and between the Company and Jasper Lake Holdings Limited (incorporated by reference to Exhibit 2.6 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
3.1 (a) Articles of Incorporation (incorporated herein by reference to Exhibit 3.1 filed with the Company’s Registration Statement on Form S-1 filed with the Commission on April 28, 2010.)
  (b) Certificate of Amendment to Articles of Incorporation (incorporated herein by reference to Exhibit 3.2 filed with the Company’s Registration Statement on Form S-1 filed with the Commission on April 28, 2010.)
  (c) Certificate of Amendment to Articles of Incorporation (incorporated by reference to Exhibit 3.1 filed on Current Report to Form 8-K with the SEC on March 16, 2011.)
  (d) Certificate of Correction to Certificate of Amendment to Articles of Incorporation (incorporated by reference to Exhibit 3.2 filed on Current Report to Form 8-K with the SEC on March 16, 2011.)
  (e) Certificate of Amendment to Articles of Incorporation (incorporated by reference to Exhibit 3.1 filed on Current Report to Form 8-K with the SEC on January 20, 2016)
4.1   8% Convertible Promissory Note issued to Jasper Lake Holdings Limited (incorporated by reference to Exhibit 4.1 filed on Current Report to Form 8-K with the SEC on December 21, 2015)
4.2   Amended 8% Convertible Promissory Note issued to Jasper Lake Holdings Limited in the amount of $75,000,000 upon completion of the Subsidiaries Sale
10.1   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of Brookhollow Lake, LLC (incorporated by reference to Exhibit 10.1 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
10.2   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of New Port Property Holding, LLC (incorporated by reference to Exhibit 10.2 filed on Current Report to Form 8-K with the SEC on January 7, 2016)

 

 44 

 

 

10.3   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of Kirin China Holding Ltd. (incorporated by reference to Exhibit 10.3 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
10.4   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of Kirin Hopkins Real Estate Group (incorporated by reference to Exhibit 10.4 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
10.5   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of Archway Development Group LLC (incorporated by reference to Exhibit 10.5 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
10.6   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of Spectrum International Enterprise, LLC (incorporated by reference to Exhibit 10.6 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
10.7   Stock Purchase and Business Sale Agreement, dated December 31, 2015, by and between the Company and Kirin Global Enterprises, Inc. for the sale of HHC-6055 Centre Drive LLC (incorporated by reference to Exhibit 10.7 filed on Current Report to Form 8-K with the SEC on January 7, 2016)
14.1   Code of Business Conduct and Ethics of the Company (incorporated by reference to Exhibit 10.7 filed on Current Report to Form 8-K with the SEC on January 28, 2016)
21.1   List of Subsidiaries
31.1   Certification of Principal 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 Principal 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 Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2+   Certification of Principal 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 Schema
101.CAL   XBRL Taxonomy Calculation Linkbase
101.DEF   XBRL Taxonomy Definition Linkbase
101.LAB   XBRL Taxonomy Label Linkbase
101.PRE   XBRL Taxonomy Presentation Linkbase

 

+ In accordance with SEC Release 33-8238, Exhibit 32.1 and 32.2 are being furnished and not filed.

  

 45 

 

 

SIGNATURES

 

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

 

  YANGTZE RIVER DEVELOPMENT LIMITED
     
  By: /s/ Xiangyao Liu
    Xiangyao Liu
   

President and Chief Executive Officer

(Principal Executive Officer)

     
  Date: February 2, 2016
     
  By: /s/ Xin Zheng
    Xin Zheng
   

Chief Financial Officer

(Principal Financial and Accounting Officer)

     
  Date: February 2, 2016

 

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.

 

Name   Title   Date
         
/s/ Xiangyao Liu   President, Chief Executive Officer and Director   February 2, 2016
Xiangyao Liu   (Principal Executive Officer)    
    Chief Financial Officer    
         
/s/ Xin Zheng    (Principal Financial and Accounting Officer)   February 2, 2016
Xin Zheng        
         
/s/ James Stuart Coleman    Director   February 2, 2016
James Stuart Coleman        
         
/s/ Zhanhuai Cheng    Director   February 2, 2016
Zhanhuai Cheng        
         
/s/ Yanliang Wu    Director   February 2, 2016
Yanliang Wu        
         
/s/ Yu Zong    Director   February 2, 2016
Yu Zong        
         
/s/ Harvey Leibowitz    Independent Director   February 2, 2016
Harvey Leibowitz        
         
/s/ Zhixue Liu    Independent Director   February 2, 2016
Zhixue Liu        
         
/s/Tongming Wang    Independent Director   February 2, 2016
Tongming Wang        
         
/s/ Romano Tio    Independent Director   February 2, 2016
Romano Tio        
         
/s/ Daniel W. Heffernan    Independent Director   February 2, 2016
Daniel W. Heffernan        
         
/s/ Zhihong Su    Independent Director   February 2, 2016
Zhihong Su        

 

 46 

 

 


KIRIN INTERNATIONAL HOLDING, INC.

CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2015 AND 2014

 

TABLE OF CONTENTS

 

   Pages
Report of Independent Registered Public Accounting Firm  F-2
Consolidated Balance Sheets as of December 31, 2015 and 2014  F-3
Consolidated Statements of Operations and Comprehensive Loss for years ended December 31, 2015 and 2014  F-4
Consolidated Statements of Changes in Equity for years ended December 31, 2015 and 2014  F-5
Consolidated Statements of Cash Flows for years ended December 31, 2015 and 2014  F-6
Notes to the Consolidated Financial Statements  F-7 – F-21

 

 F-1 
 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

  

Board of Directors and Stockholders of

Yangtze River Development Limited

 

We have audited the accompanying consolidated balance sheets of Yangtze River Development Limited (the “Company”) (formerly known as Kirin International Holding, Inc.) as of December 31, 2015 and 2014, and the related consolidated statements of operations and comprehensive loss, changes in owners’ equity and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audit.

 

We conducted our audits 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 consolidated financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of their 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 also includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Yangtze River Development Limited as of December 31, 2015 and 2014, 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 described in Note 2 to the consolidated financial statements, the Company suffered recurring losses from operations that raises substantial doubts about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to this matter.

 

 

Dominic K.F. Chan & Co.  
Certified Public Accountants  
Hong Kong, February 1, 2016  

 

 F-2 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

Consolidated Balance Sheets

 

   December 31, 
   2015   2014 
ASSETS        
Cash and cash equivalents  $512,569   $56,366 
Other assets and receivables   6,259,865    2,937,545 
Real estate property completed   31,566,156    33,025,319 
Real estate properties and land lots under development   364,876,105    384,610,172 
Property and equipment, net   157,499    237,475 
Deferred tax assets   3,614,419    2,420,449 
Total Assets  $406,986,613   $423,287,326 
           
LIABILITIES AND EQUITY          
Liabilities          
Accounts payable  $5,526,610   $5,837,471 
Due to related parties   32,045,112    322,388,060 
Other taxes payable   13,350    28,203 
Other payables and accrued liabilities   560,830    264,558 
Real estate property refund and compensation payable   25,274,753    25,158,858 
Convertible note   75,000,000    - 
Loans payable   44,502,981    47,185,161 
Total liabilities  $182,923,636   $400,862,311 
           
Equity          
Preferred stock at $0.0001 par value; 100,000,000 shares authorized; none issued or outstanding  $-   $- 
Common stock at $0.0001 par value; 500,000,000 shares authorized; 172,254,446 and 151,000,000 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively   17,225    15,100 
Additional paid-in capital   230,935,849    27,955,331 
Accumulated losses   (4,575,912)   (9,881,148)
Accumulated other comprehensive (loss) income   (2,314,185)   4,335,732 
Total Equity  $224,062,977   $22,425,015 
Total Liabilities and Equity  $406,986,613   $423,287,326 

  

See notes to the consolidated financial statements

 

 F-3 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

consolidated Statements of OPERATIONS and Comprehensive LOSS

 

   For the Years Ended
December 31,
 
   2015   2014 
         
Revenue  $-   $3,458,295 
Cost of revenue   -    3,693,783 
Gross loss   -    (235,488)
           
Operating expenses          
Selling expenses   11,577    87,866 
General and administrative expenses   4,547,646    2,090,499 
Total operating expenses   4,559,223    2,178,365 
           
Loss from operations   (4,559,223)   (2,413,853)
           
Other income (expenses)          
Gain on disposal of subsidiaries   11,687,098    - 
Other income   868    - 
Other expenses   (3,231)   - 
Interest income   55    10,996 
Interest expenses   (3,199,031)   (3,256,660)
Total other income (expenses)   8,485,759    (3,245,664)
           
Income (loss) before income taxes   3,926,536    (5,659,517)
Income taxes benefit   1,378,700    1,402,421 
Net income (loss)  $5,305,236   $(4,257,096)
           
Other comprehensive loss          
Foreign currency translation adjustments   (6,649,917)   (147,341)
Comprehensive loss  $(1,344,681)  $(4,404,437)
           
Earnings (loss) per share - basic and diluted  $0.03   $(0.03)
           
Weighted average shares outstanding - basic and diluted   151,682,554    151,000,000 

 

See notes to the consolidated financial statements

 

 F-4 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

consolidated Statements of CHANGES IN Equity

 

   Common stock                 
  

 

 

Number of shares

  

 

 

Amount

  

 

Additional paid-in

capital

  

 

Accumulated

losses

  

Accumulated other

comprehensive

(loss) income

  

 

 

Total

 
                         
Balance as of January 1, 2014   151,000,000   $15,100   $27,955,331   $(5,624,052)  $4,483,073   $26,829,452 
Net loss   -    -    -    (4,257,096)   -    (4,257,096)
Foreign currency translation adjustment   -    -    -    -    (147,341)   (147,341)
Balance as of December 31, 2014   151,000,000   $15,100   $27,955,331   $(9,881,148)  $4,335,732   $22,425,015 
                               
Forgiveness of loan from Wuhan Renhe   -    -    285,413,074    -    -    285,413,074 
Effect of share exchange   20,596,546    2,060    (86,182,521)   -    -    (86,180,461)
Restricted shares issued for services   657,900    65    3,749,965    -    -    3,750,030 
Net income   -    -    -    5,305,236    -    5,305,236 
Foreign currency translation adjustment   -    -    -    -    (6,649,917)   (6,649,917)
Balance as of December 31, 2015   172,254,446   $17,225   $230,935,849   $(4,575,912)  $(2,314,185)  $224,062,977 

 

 See notes to the consolidated financial statements

 

 F-5 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

Consolidated Statements of Cash Flows

  

   For the Years Ended
December 31,
 
   2015   2014 
Cash Flows from Operating Activities:        
Net income (loss)  $5,305,236   $(4,257,096)
Adjustments to reconcile net income (loss) to net cash used in operating activities:          
Depreciation of property, and equipment   79,064    80,133 
Loss on disposal of property, and equipment   3,082    - 
Deferred tax benefit   (1,378,700)   (1,402,421)
Gain on disposal of subsidiaries   (11,687,098)   - 
Share-based compensation expense   1,808,867    - 
Changes in operating assets and liabilities:          
Prepayments   -    884,391 
Other assets and receivables   (1,534,700)   (57,758)
Real estate property completed   (312,163)   (276,595)
Real estate properties and land lots under development   (778,977)   (6,412,919)
Accounts payable   -    4,486,912 
Other taxes payable   (13,914)   28,204 
Other payables and accrued liabilities   2,257,051    72,260 
Real estate property refund and compensation payables   1,517,110    1,577,864 
Net Cash Used In Operating Activities   (4,735,142)   (5,277,025)
           
Cash Flows from Investing Activities:          
Purchase of property and equipment   (11,733)   (70,908)
Proceeds from disposal of property and equipment   130    - 
Effect of share exchange   505,782    - 
Net Cash Provided By (Used In) Investing Activities   494,179    (70,908)
           
Cash Flows from Financing Activities:          
Proceeds from financial institution loans   -    47,187,464 
Repayment of financial institution loans   (176,599)   (488,146)
Advances from related parties   4,874,761    4,834,513 
Repayment to related parties   -    (47,187,464)
Net Cash Provided By Financing Activities   4,698,162    4,346,367 
           
Effect of Exchange Rate Changes on Cash and Cash Equivalents   (996)   (5,801)
           
Net Increase (Decrease) In Cash and Cash Equivalents   456,203    (1,007,367)
Cash and Cash Equivalents at Beginning of Year   56,366    1,063,733 
Cash and Cash Equivalents at End of Year  $512,569   $56,366 
           
Supplemental Cash Flow Information:          
Cash paid for interest expense  $3,001,771   $3,256,660 
Cash paid for income tax  $-   $- 
           
Supplemental Disclosure of Non-Cash Transactions:          
Forgiveness of loans from an owner  $285,413,074   $- 
Issuance of convertible note  $150,000,000   $- 
Reduction of convertible note  $75,000,000   $- 

 

See notes to the consolidated financial statements

 

 F-6 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

December 31, 2015 and 2014

 

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

 

The consolidated financial statements include the financial statements of Yangtze River Development Limited (the “Company” or “Yangtze River”) and its subsidiaries, Energetic Mind Limited (“Energetic Mind”), Ricofeliz Capital (HK) Limited (“Ricofeliz Capital”), and Wuhan Yangtze River Newport Logistics Co., Ltd. (“Wuhan Newport”).

 

The Company, formerly named as Kirin International Holding, Inc., and Ciglarette, Inc., was incorporated in the State of Nevada on December 23, 2009. The Company was a development stage company and has not generated significant revenue since inception to March 1, 2011.

 

On March 1, 2011, the Company entered into a share exchange agreement that Kirin China Holding Limited (“Kirin China”) became the Company’s wholly-owned subsidiary. Kirin China engaged in the development and sales of residential and commercial real estate properties, and development of land lots in People’s Republic of China (“China”, or the “PRC”).

 

On December 19, 2015, the Company completed a share exchange (the “Share Exchange”) with Energetic Mind and all the shareholders of Energetic Mind, whereby Yangtze River acquired 100% of the issued and outstanding capital stock of Energetic Mind, in exchange for 151,000,000 shares of Yangtze River’s common stock, which constituted approximately 88% of its issued and outstanding shares on a fully-diluted basis of Yangtze River immediately after the consummation of the Share Exchange, and an 8% convertible note (the “Note”) in the principal amount of $150,000,000. As a result of the Share Exchange, Energetic Mind became Yangtze River’s wholly-owned subsidiary and Jasper Lake Holdings Limited (“Jasper”), the former shareholder of Energetic Mind, became Yangtze River’s controlling stockholder. The Share Exchange transaction with Energetic Mind was treated as an acquisition, with Energetic Mind as the accounting acquirer and Yangtze River as the acquired party. The financial statements before the date of the Share Exchange are those of Energetic Mind with the results of the Company being consolidated from the date of the Share Exchange.

 

Energetic Mind owns 100% of Ricofeliz Capital and operates its business through its subsidiary Wuhan Newport.

 

Wuhan Newport was a wholly owned subsidiary of Wuhan Renhe Group Co., Ltd. (the “Wuhan Renhe”), a company incorporated in the PRC as at September 23, 2002. On July 13, 2015, Wuhan Renhe transferred all of the equity interests of the Company to Ricofeliz Capital, a company incorporated in Hong Kong on March 25, 2015. Ricofeliz Capital was incorporated by Energetic Mind, a company incorporated in British Virgin Islands (“BVI”). Energetic Mind was incorporated by Mr. Liu Xiangyao on January 2, 2015, and was subsequently purchased by various companies incorporated in BVI or the United States of America (“USA”), among whom Jasper became its 64% owner. Jasper was 100% owned by Mr. Liu Xiangyao, a Hong Kong citizen.

 

The major assets of Wuhan Newport include land lots for developing commercial buildings that are in line with the principal activities of Kirin China.

 

On December 31, 2015, the Company entered into certain stock purchase and business sale agreements (the “Agreements”) with Kirin Global Enterprises, Inc. (the “Purchaser”), a California corporation and an entity controlled by a former officer and director of the Company whereby the Company sold its interest in certain subsidiaries (see note 11) for an aggregate of $75,000,002. (the “Sale”).

 

Pursuant to the terms of the Agreements, Jasper agreed to finance the Sale by reducing Company’s financial obligations of the Note by an aggregate of $75,000,000. In addition, the Purchaser agreed to pay the remaining two dollar in cash.

 

Upon completion of the Sale, the Company operates its business solely through its subsidiary Wuhan Newport, primarily engaging in the business as a port logistic center located in the middle reaches of the Yangtze River in the PRC.

 

 F-7 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

December 31, 2015 and 2014

 

2. Summary of Significant Accounting Policies

 

2.1 Basis of presentation

 

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

 

The consolidated financial statements include the financial statements of all the subsidiaries. All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

 

The consolidated balance sheets are presented unclassified because the time required to complete real estate projects and the Company’s working capital considerations usually stretch for more than one-year period.

 

2.2 Use of estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.

 

2.3 Cash and cash equivalents

 

Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations.

 

2.4 Property and equipment

 

The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value. Estimated useful lives of property and equipment are stated in Note 7.

 

The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.

 

2.5 Impairment of long-lived assets

 

The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.

 

The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.

 

 F-8 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

2.6 Fair values of financial instruments

 

ASC Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.

 

Level 1    inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

 

Level 2    inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

 

Level 3    inputs to the valuation methodology are unobservable and significant to the fair value.

 

As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.

 

2.7 Convertible notes

 

In accordance with ASC subtopic 470-20, the convertible notes are initially carried at the principal amount of the convertible notes. Debt premium or discounts, which are the differences between the carrying value and the principal amount of convertible notes at the issuance date, together with related debts issuance cost, are subsequently amortized using effective interest method as adjustments to interest expense from the debt issuance date to its first redemption date. Convertible notes are classified as a current liability if they are or will be callable by the Company or puttable by the debt holders within one year from the balance sheet date, even though liquidation may not be expected within that period.

 

2.8 Foreign currency translation and transactions

 

The Company’s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company’s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(“RMB”) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.

 

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable 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 are recorded in owners’ equity as part of accumulated other comprehensive income.

 

   December 31, 
   2015   2014 
Balance sheet items, except for equity accounts   6.4917    6.1460 

 

   For the Years Ended December 31, 
   2015   2014 
Items in the statements of operations and comprehensive income, and statements of cash flows   6.2288    6.1457 

 

 F-9 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

2.9 Revenue recognition

 

The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.

 

Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.

 

Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer’s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer’s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.

 

Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.

 

The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.

 

 F-10 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

2.10 Real estate capitalization and cost allocation

 

Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of 40 years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units’ gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.

 

2.11 Capitalization of interest

 

In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.

 

2.12 Advertising expenses

 

Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.

 

2.13 Share-based compensation

 

The Company grants restricted shares to its non-employee consultants. Awards granted to non-employees are measured at fair value at the earlier of the commitment date or the date the services are completed, and are recognized using graded vesting method over the period the service is provided.

 

2.14 Income taxes

 

Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.

 

The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.

 

2.15 Land Appreciation Tax (“LAT”)

 

In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).

 

 F-11 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

2.16 Earnings (loss) per share

 

Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.

 

2.17 Comprehensive loss

 

Comprehensive loss includes net income (loss) and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.

 

2.18 Contingencies

 

In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, “Loss Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.

 

2.19 Recently issued accounting pronouncements

 

The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.

 

 F-12 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

3. Risks

 

(a) Liquidity risk

 

The Company is exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures.

 

(b) Foreign currency risk

 

A majority of the Company’s operating activities and a significant portion of the Company’s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers' invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.

 

(c) Concentration risk

 

For the year ended December 31, 2014, two customers accounted for all of sales. There were no sales for the year December 31, 2015.

 

   Years Ended December 31, 
   2015   2014 
         
Customer A   -    20%
Customer B   -    80%
    -    100%

 

For the year ended December 31, 2014, products purchased from two suppliers accounted for all of product purchases. There were no sales for the year December 31, 2015.

 

   Years Ended December 31, 
   2015   2014 
         
Supplier A   -    19%
Supplier B   -    81%
    -    100%

 

 F-13 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

4. OTHER assets and receivables

 

Other assets and receivables as of December 31, 2015 and 2014 consisted of:

 

   December 31, 
   2015   2014 
         
Deposits  $847   $3,611 
Working capital borrowed by contractors   -    12,431 
Individual income tax receivable   -    361 
Staff allowance   -    72,346 
Prepaid consulting and legal fees   1,941,163    - 
Underwriting commission deposit   1,606,000    - 
Excessive business tax and related urban construction and education surcharge   1,726,408    1,814,991 
Excessive land appreciation tax   985,447    1,033,805 
   $6,259,865   $2,937,545 

 

Business tax and LAT are payable each year at 5% and 1% - 2% respectively of customer deposits received. The Company recognizes sales related business tax and LAT in the income statement to the extent that they are proportionate to the revenue recognized each period. Any excessive amounts of business and LAT liabilities recognized at period-end pursuant to tax laws and regulations over the amounts recognized in the income statement are capitalized in prepayments and will be expensed in subsequent periods.

 

5. REAL ESTATE PROPERTY COMPLETED

 

The account balance and components of the real estate property completed were as follow:

 

   December 31, 
   2015   2014 
Properties completed        
Wuhan Centre China Grand Steel Market        
Costs of land use rights  $7,716,994   $8,151,059 
Other development costs   23,849,162    24,874,260 
   $31,566,156   $33,025,319 

 

6. REAL ESTATE PROPERTIES AND LAND LOTS UNDER DEVELOPMENT

 

The components of real estate properties and land lots under development were as follows:

 

   December 31, 
   2015   2014 
Properties under development        
Wuhan Centre China Grand Steel Market        
Costs of land use rights  $9,306,948   $9,830,445 
Other development costs   38,982,735    40,385,963 
           
Land lots undeveloped   316,586,422    334,393,764 
   $364,876,105   $384,610,172 

 

As of December 31, 2015, the sole developing project is called Wuhan Centre China Grand Steel Market (Phase 1) Commercial Building in Wuhan Yangluo Economic Development Zone with approximately 222,496.6 square meters of total construction area. The Company has obtained certificates representing titles of the land use rights used for the development of the project.

 

Land use right with net book value of $181,287,079, including in real estate held for development and land lots undeveloped were pledged as collateral for the financial institution loan as at December 31, 2015. (See Note 10).

 

 F-14 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

7. Property and Equipment

 

The Company’s property and equipment used to conduct day-to-day business are recorded at cost less accumulated depreciation. Depreciation expenses are calculated using straight-line method over the estimated useful life with 5% of estimated salvage value below:

 

   Useful life  December 31, 
   Years  2015   2014 
            
Fixture, furniture and office equipment  5  $63,474   $56,710 
Vehicles  5   528,424    605,642 
Less: accumulated depreciation      (434,399)   (424,877)
Property and equipment, net     $157,499   $237,475 

 

Depreciation expense totaled $76,419 and $80,133 for the years ended December 31, 2015 and 2014, respectively.

 

8. OTHER PAYABLES AND ACCRUED LIABILITIES

 

Other payables and accrued liabilities as of December 31, 2015 and 2014 consisted of:

 

   December 31, 
   2015   2014 
         
Salaries payable  $182,716   $75,301 
Business tax and related urban construction and education surcharge   12,947    121 
Deposits from contractors   167,907    177,351 
Interests payable in connection with convertible note   197,260    - 
Others   -    11,785 
   $560,830   $264,558 

 

9. REAL ESTATE PROPERTY REFUND AND COMPENSATION PAYABLe

 

During the years 2012 and 2011, the Company signed 443 binding agreements of sales of commercial offices of the project with floor area of 22,790 square meters to unrelated purchasers (the transactions or the real estate sales transactions). The Company received deposits and considerations from the purchasers as required by the agreements. The construction commenced in the 2010, which was originally expected to be delivered to customers in late of 2012. No revenue was recognized from the sales of the commercial offices due to the reason stated below.

 

Owing to commercial reasons, the Company decided to terminate the agreements made for the sale of the real estate properties in relation to the project of Wuhan Centre China Grand Market. According to the agreements of sales, the Company is obliged to compensate the purchaser at a rate equal to 6% per annum or 0.05% per day on the deposits paid. In the years ended December 31, 2015 and 2014, the Company incurred $1,528,126 and $1,547,428 compensation expenses which were included in general and administrative expenses.

 

As at December 31, 2015, 375 out of 443 agreements were cancelled, and no completed office (or real estate certificate) has been delivered to the purchaser. The Company is still in the progress of negotiating with the purchasers for the cancellation of the remaining agreements. The directors of the Company are of the opinion that almost all of the purchasers shall accept the cancellation. If, finally the purchaser insisted on the execution of the agreement, the Company will accept.

 

Real estate property refund and compensation payable represent the amount of customer deposits received and the compensation calculated in accordance with the provisions in the sales agreements. The payable consists of the followings:

 

   December 31, 
   2015   2014 
         
Property sales deposits  $20,152,652   $21,297,363 
Compensation   5,122,101    3,861,495 
   $25,274,753   $25,158,858 

 

 F-15 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

10. Loans payable

 

   Weighted-average       December 31 
Bank name  interest rate   Term   2015   2014 
 China Construction Bank   6.33%   

From May 30, 2014 to
May 29, 2020

    44,502,981    47,185,161 

 

Interest expenses incurred on loans payable for the years ended December 31, 2015 and 2014 was $3,001,771 and $3,256,660, respectively.

 

Land use right with net book value of $181,287,079, including in real estate held for development and land lots under development were pledged as collateral for the loan as at December 31, 2015.

 

The aggregate maturities of loans payable of each of years subsequent to December 31, 2015 are as follows:

 

2016  $154,043 
2017   10,783,000 
2018   10,783,000 
2019   12,323,428 
2020   10,459,510 
   $44,502,981 

 

11. GAIN ON DISPOSAL OF SUBSIDIARIES

 

On December 31, 2015, the Company sold all of its interests in i) Brookhollow Lake, LLC, ii) Newport Property Holding, LLC, iii) wholly-owned subsidiary Kirin China, iv) wholly-owned subsidiary Kirin Hopkins Real Estate Group, v) wholly-owned subsidiary Archway Development Group LLC, vi) wholly-owned subsidiary Specturm International Enterprise, LLC and vii) wholly-owned subsidiary HHC-6055 Centre Drive LLC (collectively referred to as the “Kirin Subsidiaries”). The sale of Kirin China also effectively terminated Company’s contractual relationship with Hebei Zhongding Real Estate Development Co. Ltd and Xingtai Zhongding Jiye Real Estate Development Co., Ltd, both of which are companies formed under the laws of the People’s Republic of China and were deemed Company’s variable interest entities prior to the Sale.

 

The Company sold its interests in Kirin Subsidiaries for an aggregate of $75,000,002 for the Sale. The carrying amount of the net assets of Kirin Subsidiaries was $63,312,904 as of disposal date and the Company recognized a gain of $11,687,098 on the disposal accordingly.

 

12. CONVERTIBLE NOTE

 

On December 19, 2015, the Company issued an 8% convertible note in the principal amount of $150,000,000 to Jasper, a related party, in the Share Exchange (see note 1). The holder of the Note may convert all or any portion of the then aggregate outstanding principal amount, together with any accrued and unpaid interest, into shares of Company’s common stock at $10.00 per share.

 

On December 31, 2015, pursuant to the terms and conditions of the Agreements, Jasper, financed the Purchaser for the Sale by reducing Company’s financial obligations under the Note by an aggregate of $75,000,000 (see note 1). As a result of the Sale, the outstanding balance due to Jasper under the Note was $75,000,000 plus any accrued interest.

 

There was no beneficial conversion feature attributable to the Note as the set conversion price of the Note was greater than the fair value of the common share price at the date of issuance. The Company has accounted for the Note in accordance with ASC 470-20, as a single instrument as a non-current liability. The Note is initially carried at the gross cash received at the issuance date.

 

The interest expense for the convertible note included in the consolidated statements of operations is $197,260 and nil for the years ended December 31, 2015 and 2014. Note issuance costs are immaterial.

 

13. Employee Retirement Benefit

 

The Company has made employee benefit contribution in accordance with Chinese relevant regulations, including retirement insurance, unemployment insurance, medical insurance, work injury insurance and birth insurance. The Company recorded the contribution in the salary and employee charges when incurred. The contributions made by the Company were $64,005 and $17,507 for the years ended December 31, 2015 and 2014, respectively.

 

 F-16 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

14. INCOME TAXES

 

The Company was incorporated in the state of Nevada. Under the current law of Nevada, the Company is not subject to state corporate income tax. No provision for federal corporate income tax has been made in the financial statements as there are no assessable profits.

 

Energetic Mind was incorporated in the British Virgin Islands (“BVI”). Under the current law of the BVI, Energetic Mind is not subject to tax on income.

 

Ricofeliz Capital was incorporated in Hong Kong. No provision for Hong Kong profits tax has been made in the financial statements as there are no assessable profits.

 

Wuhan Newport was incorporated in the PRC, was governed by the income tax law of the PRC and is subject to PRC enterprise income tax (“EIT”). The EIT rate of PRC is 25%.

 

Income tax expenses for the years ended December 31, 2015 and 2014 are summarized as follows:

 

   Years Ended December 31, 
   2015   2014 
         
Current  $-   $- 
Deferred tax benefit   1,378,700    1,402,421 
   $1,378,700   $1,402,421 

 

A reconciliation of the income tax benefit (expenses) determined at the PRC EIT income tax rate to the Company’s effective income tax benefit is as follows:

 

   Years Ended December 31, 
   2015   2014 
         
EIT at the PRC statutory rate of 25%  $(981,634)  $1,414,879 
Permanent items   2,921,774    (12,458)
Valuation allowance   (561,440)   - 
   $1,378,700   $1,402,421 

 

The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. For the years ended December 31, 2015 and 2014, the Company had no unrecognized tax benefits.

 

The Company does not anticipate any significant increase to its liability for unrecognized tax benefit within the next 12 months. The Company will classify interest and penalties related to income tax matters, if any, in income tax expense.

 

Deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. The tax effects of temporary differences that give rise to the following approximate deferred tax assets and liabilities as of December 31, 2015 and 2014 are presented below.

 

   December 31, 
   2015   2014 
Deferred tax assets        
Operating loss carry forward  $303,237   $229,288 
Excess of interest expenses   1,398,582    648,140 
Accrued expenses   1,912,600    1,543,021 
   $3,614,419   $2,420,449 

 

The Company had net operating losses carry forward of $1,212,948 as of December 31, 2015 which will expire on various dates between December 31, 2018 and 2019.

 

 F-17 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

15. earnings (loss) per share

 

   Years Ended December 31, 
   2015   2014 
Numerator:        
Net income (loss) for basic and diluted earnings (loss) per share  $5,305,236   $(4,257,096)
           
Denominator:          
Weighted average number of common shares outstanding-basic and diluted   151,682,554    151,000,000 
           
Basic and diluted earnings (loss) per share  $0.03   $(0.03)

 

246,900 common shares resulting from the assumed conversions of 8% Convertible Note (note 12) were excluded from the calculation of diluted earnings (loss) per share for the years ended December 31, 2015 as their effect is anti-dilutive.

 

16. Related Party Transactions

 

16.1 Nature of relationships with related parties

 

Name  Relationships with the Company
Wuhan Renhe Group Co., Ltd (“Wuhan Renhe”)  Former shareholder (Mr Wang Geng) of Wuhan Newport
Wuhan Renhe Real Estate Co., Ltd. (“Renhe RE”)  Mr Wang Geng, the director of the Company, holds 100% of Renhe RE
Mr Zhao Weibin  Officer
Mr Liu Xiangyao  Director

 

16.2 Related party balances and transactions

 

Amount due to Wuhan Renhe were $28,822,089 and $322,388,060 as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

On June 30, 2015, Wuhan Renhe forgave a total amount of $285,413,074 with the Company. The Company has credited the amount of $285,413,074 to additional paid-in capital in equity.

 

A summary of changes in the amount due to Wuhan Renhe is as follows:

 

   December 31, 
   2015   2014 
         
At beginning of year  $322,388,060   $366,755,923 
Advances from the related party   28,463,394    4,834,513 
Repayment to the related party   -    (47,187,464)
Forgiveness of loan   (285,413,074)   - 
Exchange difference adjustment   (36,616,291)   (2,014,912)
At end of year  $28,822,089   $322,388,060 

 

 F-18 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

Amount due to Renhe RE were $667,776 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Renhe RE is as follows:

 

   December 31, 
   2015   2014 
         
At beginning of year  $-   $- 
Advances from the related party   667,776    - 
At end of year  $667,776   $- 

 

Amount due to Mr Zhao Weibin were $ 126,516 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Mr Zhao Weibin is as follows:

 

   December 31, 
   2015   2014 
         
At beginning of year  $-   $- 
Advances from the officer   126,516    - 
At end of year  $126,516   $- 

 

Amount due to Mr Liu Xiangyao were $2,428,731 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Mr Liu Xiangyao is as follows:

 

   December 31, 
   2015   2014 
         
At beginning of year  $-   $- 
Advances from the director   2,428,731    - 
At end of year  $2,428,731   $- 

 

 F-19 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

  

17. SHARE-BASED COMPENSATION EXPENSES

 

On December 27, 2015, the Company granted 317,345 and 340,555 shares of the Company’s restricted common stock to a number of consultants, in exchange for its legal and professional services to the Company for the years ended December 31, 2015 and 2016, respectively. These shares were valued at $5.7 per share, the closing bid price of the Company’s common stock on the date of grant. Total compensation expense recognized in the general and administrative expenses of the consolidated statement of operations for the year ended December 31, 2015 was $1,808,867. Total compensation expense of approximately $1,941,163 will be recognized in 2016. The shares attributable to fiscal 2015 and 2016 were issued on December 30, 2015.

 

18. Concentration of Credit Risks

 

As of December 31, 2015 and 2014, substantially all of the Company’s cash and cash equivalents were held by major financial institutions located in China and the US, which management believes are of high credit quality.

 

The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. The business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

 

No customer accounted for more than 10% of total accounts receivable as of December 31, 2015 and 2014.

 

19. Commitments and Contingencies

 

Operating lease commitments

 

For the years ended December 31, 2015 and 2014, rental expenses under operating leases were $6,000 and nil, respectively.

 

The future obligations for operating leases as of December 31, 2015 are as follows:

 

2016  $72,000 
2017   18,000 
Total minimum payment required  $90,000 

 

Legal proceeding

 

The Company is not currently a party to any legal proceeding, investigation or claim which, in the opinion of the management, is likely to have a material adverse effect on the business, financial condition or results of operations.

 

The Company did not identify any contingency as of December 31, 2015.

 

 F-20 
 

 

Yangtze River Development Limited

(FORMERLY Kirin International Holding, Inc.)

NOTES TO THE FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014

 

20. Subsequent Event

 

The management evaluated all events subsequent to the balance sheet date through the date the consolidated financial statements were available to be issued. Except for the followings, there are no significant matters to make material adjustments or disclosure in the consolidated financial statements.

 

On January 13, 2016, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of the State of Nevada, changing its name from “Kirin International Holding, Inc.” to “Yangtze River Development Limited”.

 

Effective January 22, 2016, upon approval by FINRA, Yangtze River Development Limited, or formerly Kirin International Holding, Inc., changed its stock symbol from “KIRI” to “YERR”.

 

On January 25, the board of directors (the “Board”) of the Company formed and adopted charters for six standing committees: Audit Committee, Compensation Committee, Nomination Committee, Governance and Human Resources Committee, Board Oversight Committee, Social Media Committee (collectively the “Committees”). Each Committee consists of only independent directors of the Company. The Board also adopted charter for the Regulatory, Compliance and Government Affairs Committee, for which the charter will be implemented once the committee is formed. The Company believes that the adoption of these charters and formation of these Committees are necessary for the implementation of effective internal control and oversight and a significant step towards remediating any material weakness the Company currently has. Members of the Committees are as set forth below

 

Audit Committee: Harvey Leibowitz (Chair), Zhihong Su, Daniel W. Heffernan, Romano Tio, Tongmin Wang
Compensation Committee: Harvey Leibowitz (Chair), Zhihong Su, Zhixue Liu, Romano Tio, Daniel W. Heffernan
Nomination Committee: Daniel W. Heffernan (Chair), Harvey Leibowitz, Zhixue Liu, Romano Tio, Zhihong Su
Governance and Human Resources Committee: Zhihong Su (Chair), Harvey Leibowitz, Romano Tio, Daniel W. Heffernan, Tongmin Wang
Board Oversight Committee: Daniel W. Heffernan (Chair), Zhixue Liu, Harvey Leibowitz, Romano Tio, Zhihong Su
Social Media Committee: Romano Tio (Chair), Harvey Leibowitz, Zhihong Su, Daniel W. Heffernan, Tongmin Wang

 

The Company believes that all members of each of the audit and compensation committees are independent and that Mr. Harvey Leibowitz qualifies as an “audit committee financial expert,” as that term is defined in applicable regulations of the SEC.

 

The Audit Committee is responsible for making such examinations as are necessary to monitor the corporate financial reporting and external audits of the Company and its subsidiaries; to provide to the Board the results of its examinations and recommendations derived there from; to outline to the Board improvements made, or to be made, in internal accounting controls; to nominate independent auditor; and to provide to the Board such additional information and materials as it may deem necessary to make the Board aware of significant financial matters requiring Board attention.

 

The Company believes that the adoption of these charters and formation of these Committees, specifically that of the Audit Committee, are necessary for the implementation of effective internal control.

 

 

F-21

 

EX-4.2 2 f10k20154ii_yangtzeriver.htm AMENDED 8% CONVERTIBLE PROMISSORY NOTE ISSUED TO JASPER LAKE HOLDINGS LIMITED IN THE AMOUNT OF $75,000,000 UPON COMPLETION OF THE SUBSIDIARIES SALE

Exhibit 4.2

 

NEITHER THE SECURITIES REPRESENTED HEREBY NOR THE SECURITIES ISSUABLE UPON CONVERSION HEREOF HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE COMPANY THAT SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, (C) IN ACCORDANCE WITH RULE 144, RULE 145 OR RULE 144A UNDER THE SECURITIES ACT, IF APPLICABLE, AND IN ACCORDANCE WITH ANY APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS OR (D) IF THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, OR OTHERWISE SATISFIED ITSELF, THAT THE TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE U.S. STATE LAWS AND REGULATIONS GOVERNING THE OFFER AND SALE OF SECURITIES.

 

KIRIN INTERNATIONAL HOLDING INC.

 

CONVERTIBLE PROMISSORY NOTE

 

U.S.$75,000,000.00

 

Note No. 0002

Issuance Date: December 19, 2015

Maturity Date: December 19, 2018

Santa Ana, California

 

For value received, Kirin International Holding Inc., a California corporation (the “Company”), promises to pay to Jasper Lake Holdings Limited (the “Holder”) the principal sum of Seventy Five Million U.S. Dollars (U.S.$75,000,000.00). This convertible promissory note (this “ Note”) is subject to the following terms and conditions. This Note is one of a series of Convertible Promissory Notes containing substantially identical terms and conditions issued pursuant to that certain Note and Share Exchange Agreement dated as of December 19, 2015 (the “SEA”). All notes issued under the SEA are referred to herein as the “Notes,” and the holders thereof are referred to herein as the “Holders.”

 

1.Interest, Maturity and Default

(a) Interest shall accrue from the Issuance Date on the unpaid principal amount at a rate equal to 8 percent per annum, simple interest; provided, however, that if any principal or interest under this Note remains unpaid after December 19, 2018 (the “Maturity Date”), the interest rate on such unpaid amounts shall increase from 8 percent per annum to a percent per annum simple interest mutually agreed by the Company and the Holder. Subject to Section 2, principal and any accrued but unpaid interest under this Note shall be due and payable upon demand by the Holder at any time after the Maturity Date.

 

(b) Notwithstanding the provisions of Section 1(a) above, the entire unpaid principal sum of this Note, together with accrued and unpaid interest thereon, shall become immediately due and payable upon (i) the execution by the Company of a general assignment for the benefit of creditors, (ii) the filing by or against the Company of a petition in bankruptcy or any petition for relief under the federal bankruptcy act or the continuation of such petition without dismissal for a period of 90 days or more, or (iii) the appointment of a receiver or trustee to take possession of the property or assets of the Company.

 

2.Conversion

(a) Conversion at Holder’s Election

The principal and accrued but unpaid interest under this Note (the “Aggregate Note Amount”) shall, at the Holders election, be convertible at any time into shares of (i) the Company’s Class A common stock, no par value per share (“Class A Common Stock”), or (ii) if the Class A Common Stock has been converted into another class of common stock as of the date of conversion of the Note, the class of common stock as then authorized (the class of stock issued under this Section 2(a)(i) or (ii), the “Common Stock”). The Aggregate Note Amount shall be convertible into a number of shares of Common Stock equal to the quotient of the Aggregate Note Amount divided by $10.00.

 

(b) Mechanics and Effect of Conversion

No fractional shares of the Company’s capital stock will be issued upon conversion of this Note. In lieu of any fractional share to which the Holder would otherwise be entitled, the Company will pay to the Holder in cash the amount of the unconverted principal and interest balance of this Note that would otherwise be converted into such fractional share. Upon conversion of this Note pursuant to this Section 2, the Holder shall surrender this Note, duly endorsed, at the principal offices of the Company or any transfer agent of the Company. At its expense, the Company will, as soon as practicable thereafter, issue and deliver to such Holder, at the address of the Holder most recently furnished in writing to the Company, a certificate or certificates for the number of shares of Equity Securities to which such Holder is entitled upon such conversion, together with any other securities and property to which the Holder is entitled upon such conversion under the terms of this Note, including a check payable to the Holder for any cash amounts payable as described herein. Upon conversion of this Note, the Company will be forever released from all of its obligations and liabilities under this Note with regard to that portion of the principal amount and accrued interest being converted, including, without limitation, the obligation to pay such portion of the principal amount and accrued interest.

 

3.Payment

All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Any amounts due in connection with this Note may be prepaid in whole or in part at any time without penalty upon ten (10) days’ advance notice by the Company to the registered holder of this Note.

 

 

 

 

4.Transfer; Successors and Assigns

The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, except for a pledge of this Note to a bank or other financial institution that creates a mere security interest in this Note in connection with a bona fide loan transaction, the Holder may not assign, pledge, or otherwise transfer this Note without the prior written consent of the Company. Subject to the preceding sentence, this Note may be transferred only upon surrender of the original Note to the Company for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the Company, and, thereupon, a new note for the same principal amount and interest will be issued to, and registered in the name of, the transferee. Interest and principal are payable only to the registered holder of this Note.

 

5.Governing Law; Jurisdiction

This Note shall be governed by and construed under the laws of the State of California as applied to agreements among California residents, entered into and to be performed entirely within the State of California, without giving effect to principles of conflicts of law. The parties irrevocably consent to the jurisdiction and venue of the state and federal courts located in Santa Ana, California in connection with any action relating to this Note.

 

6.Notices

Any notice required or permitted by this Note shall be given in writing and shall be deemed effectively given (a) upon personal delivery to the party to be notified, (b) upon confirmation of receipt by fax by the party to be notified, (c) one business day after deposit with a reputable overnight courier, prepaid for overnight delivery and addressed as set forth in (d), or (d) three days after deposit with the United States Post Office, postage prepaid, registered or certified with return receipt requested and addressed to the party to be notified at the address of such party indicated on the signature page hereof, or at such other address as such party may designate by 10 days’ advance written notice to the other party given in the foregoing manner.

 

7.Amendments and Waivers

Any term of this Note may be amended only with the written consent of the Company and the holders of a majority in interest of the Notes, including the Lead Investor as set forth on Schedule 1 to the Note Purchase Agreement. Any amendment or waiver effected in accordance with this Section 7 shall be binding upon the Company, each Holder and each transferee of the Note.

 

8.Shareholders, Officers and Directors Not Liable

In no event shall any shareholder, officer or director of the Company be liable for any amounts due or payable pursuant to this Note.

 

9.Action to Collect on Note

If action at law or equity is necessary to enforce or interpret the terms of this Note, the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.

 

10. Waiver of Jury Trial

Each of the Company and Holder hereby waives its right to trial by jury in any claim (whether based upon contract, tort or otherwise) under, related to or arising in connection with this Note.

 

11. Waiver of Notice of Presentment

The Company hereby waives presentment, protest and demand, notice of protest, demand and dishonor and non-payment of this Note in connection with the delivery, acceptance, performance, default or enforcement of the payment of this Note.

 

  COMPANY:
   
  KIRIN INTERNATIONAL HOLDING INC.
     
  By: /s/ Jianfeng Guo
  Name: Jianfeng Guo
  Title: Chief Executive Officer

 

  Address:  Kirin International Holding Inc.
    1528 Brookhollow Drive
    Suite 100, Santa Ana, CA92705

 

 

 

 

EX-21.1 3 f10k201521i_yangtzeriver.htm LIST OF SUBSIDIARIES

Exhibit 21.1

 

Subsidiaries

 

Energetic Mind Limited (British Virgin Islands)

 

Ricofliz Capital (HK) Limited

 

Wuhan Yangtze River Newport Logistics Co., Ltd (People’s Republic of China)

 

EX-31.1 4 f10k201531i_yangtzeriver.htm CERTIFICATION

Exhibit 31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO EXCHANGE ACT RULE 13a-14(a)/15d-14(a)

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Xiangyao Liu, certify that:

 

1. I have reviewed this Annual Report on Form 10-K of Yangtze River Development Limited;
   
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 13-a-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 principals;
     
  (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 financing reporting that occurred during the registrant’s most recent fiscal quarter 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.

 

By: /s/ Xiangyao Liu  
 

Xiangyao Liu

Chief Executive Officer

 
  Principal Executive Officer  

 

Dated: February 1, 2016

 

 

EX-31.2 5 f10k201531ii_yangtzeriver.htm CERTIFICATION

Exhibit 31.2

 

CERTIFICATION OF PRINCIPAL ACCOUNTING OFFICER

PURSUANT TO EXCHANGE ACT RULE 13a-14(a)/15d-14(a)

AS ADOPTED PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Xin Zheng, certify that:

 

1. I have reviewed this Annual Report on Form 10-K of Yangtze River Development Limited;
   
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 13-a-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 principals;
     
  (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 financing reporting that occurred during the registrant’s most recent fiscal quarter 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.

 

By: /s/ Xin Zheng  
 

Xin Zheng

Chief Financial Officer

 
  Principal Accounting and Financial Officer  

 

Dated: February 1, 2016

 

EX-32.1 6 f10k201532i_yangtzeriver.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

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 Yangtze River Development Limited (the “Company”) on Form 10-K for the period ended December 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Annual Report”), Xiangyao Liu, Chief Executive Officer of the Company, certifies, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

 

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

 

By: /s/ Xiangyao Liu  
  Xiangyao Liu  
  Principal Executive Officer  

 

Dated: February 1, 2016

 

 

EX-32.2 7 f10k201532ii_yangtzeriver.htm CERTIFICATION

Exhibit 32.2

 

CERTIFICATION OF PRINCIPAL ACCOUNTING OFFICER

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 Yangtze River Development Limited (the “Company”) on Form 10-K for the period ended December 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Annual Report”), Xin Zheng, Chief Financial Officer of the Company, certifies, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

 

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

 

By: /s/ Xin Zheng  
  Xin Zheng  
  Principal Accounting and Financial Officer  

 

Dated: February 1, 2016

 

EX-101.INS 8 yerr-20151231.xml XBRL INSTANCE FILE 0001487843 2011-01-01 2011-12-31 0001487843 2011-12-31 0001487843 2012-01-01 2012-12-31 0001487843 2012-12-31 0001487843 2013-12-31 0001487843 yerr:AccumulatedLossesMember 2013-12-31 0001487843 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-12-31 0001487843 yerr:WuhanRenheMember 2013-12-31 0001487843 yerr:RenheReMember 2013-12-31 0001487843 yerr:ZhaoWeibinMember 2013-12-31 0001487843 yerr:LiuXiangyaoMember 2013-12-31 0001487843 us-gaap:CommonStockMember 2013-12-31 0001487843 us-gaap:AdditionalPaidInCapitalMember 2013-12-31 0001487843 2014-01-01 2014-12-31 0001487843 yerr:AccumulatedLossesMember 2014-01-01 2014-12-31 0001487843 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-01-01 2014-12-31 0001487843 yerr:WuhanRenheMember 2014-01-01 2014-12-31 0001487843 yerr:RenheReMember 2014-01-01 2014-12-31 0001487843 yerr:ZhaoWeibinMember 2014-01-01 2014-12-31 0001487843 yerr:LiuXiangyaoMember 2014-01-01 2014-12-31 0001487843 us-gaap:AccountsReceivableMember 2014-01-01 2014-12-31 0001487843 us-gaap:AdditionalPaidInCapitalMember 2014-01-01 2014-12-31 0001487843 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2014-01-01 2014-12-31 0001487843 yerr:SupplierConcentrationRiskOneMember us-gaap:CostOfGoodsTotalMember 2014-01-01 2014-12-31 0001487843 us-gaap:CostOfGoodsTotalMember 2014-01-01 2014-12-31 0001487843 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-12-31 0001487843 yerr:CustomerConcentrationRiskOneMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-12-31 0001487843 us-gaap:SalesRevenueNetMember 2014-01-01 2014-12-31 0001487843 2014-12-31 0001487843 yerr:AccumulatedLossesMember 2014-12-31 0001487843 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-12-31 0001487843 yerr:WuhanRenheMember 2014-12-31 0001487843 yerr:RenheReMember 2014-12-31 0001487843 yerr:ZhaoWeibinMember 2014-12-31 0001487843 yerr:LiuXiangyaoMember 2014-12-31 0001487843 yerr:FixtureFurnitureAndOfficeEquipmentMember 2014-12-31 0001487843 us-gaap:VehiclesMember 2014-12-31 0001487843 us-gaap:CommonStockMember 2014-12-31 0001487843 us-gaap:AdditionalPaidInCapitalMember 2014-12-31 0001487843 yerr:WuhanCentreChinaGrandSteelMarketMember 2014-12-31 0001487843 2015-06-30 0001487843 yerr:WuhanRenheMember 2015-06-30 0001487843 yerr:WuhanRenheMember 2015-06-25 2015-06-30 0001487843 yerr:EnergeticMindLimitedMember 2015-07-01 2015-07-13 0001487843 yerr:EnergeticMindLimitedMember 2015-12-19 0001487843 yerr:JasperLakeHoldingsLimitedMember 2015-12-19 0001487843 yerr:EnergeticMindLimitedMember 2015-12-01 2015-12-19 0001487843 yerr:JasperLakeHoldingsLimitedMember 2015-12-01 2015-12-19 0001487843 2015-01-01 2015-12-31 0001487843 yerr:AccumulatedLossesMember 2015-01-01 2015-12-31 0001487843 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-01-01 2015-12-31 0001487843 yerr:WuhanRenheMember 2015-01-01 2015-12-31 0001487843 yerr:RenheReMember 2015-01-01 2015-12-31 0001487843 yerr:ZhaoWeibinMember 2015-01-01 2015-12-31 0001487843 yerr:LiuXiangyaoMember 2015-01-01 2015-12-31 0001487843 us-gaap:AccountsReceivableMember 2015-01-01 2015-12-31 0001487843 yerr:FixtureFurnitureAndOfficeEquipmentMember 2015-01-01 2015-12-31 0001487843 us-gaap:VehiclesMember 2015-01-01 2015-12-31 0001487843 yerr:JasperLakeHoldingsLimitedMember 2015-01-01 2015-12-31 0001487843 us-gaap:MinimumMember 2015-01-01 2015-12-31 0001487843 us-gaap:MaximumMember 2015-01-01 2015-12-31 0001487843 us-gaap:CommonStockMember 2015-01-01 2015-12-31 0001487843 us-gaap:AdditionalPaidInCapitalMember 2015-01-01 2015-12-31 0001487843 yerr:KirinGlobalEnterprisesIncMember 2015-01-01 2015-12-31 0001487843 yerr:ChinaConstructionBankMember 2015-01-01 2015-12-31 0001487843 us-gaap:RestrictedStockMember 2015-01-01 2015-12-31 0001487843 us-gaap:SupplierConcentrationRiskMember us-gaap:CostOfGoodsTotalMember 2015-01-01 2015-12-31 0001487843 yerr:SupplierConcentrationRiskOneMember us-gaap:CostOfGoodsTotalMember 2015-01-01 2015-12-31 0001487843 us-gaap:CostOfGoodsTotalMember 2015-01-01 2015-12-31 0001487843 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-12-31 0001487843 yerr:CustomerConcentrationRiskOneMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-12-31 0001487843 us-gaap:SalesRevenueNetMember 2015-01-01 2015-12-31 0001487843 yerr:ThirtyOneDecemberTwoThousandSixteenMember 2015-01-01 2015-12-31 0001487843 2015-12-31 0001487843 yerr:AccumulatedLossesMember 2015-12-31 0001487843 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-12-31 0001487843 yerr:WuhanRenheMember 2015-12-31 0001487843 yerr:RenheReMember 2015-12-31 0001487843 yerr:ZhaoWeibinMember 2015-12-31 0001487843 yerr:LiuXiangyaoMember 2015-12-31 0001487843 yerr:FixtureFurnitureAndOfficeEquipmentMember 2015-12-31 0001487843 us-gaap:VehiclesMember 2015-12-31 0001487843 us-gaap:CommonStockMember 2015-12-31 0001487843 us-gaap:AdditionalPaidInCapitalMember 2015-12-31 0001487843 yerr:ChinaConstructionBankMember 2015-12-31 0001487843 yerr:WuhanCentreChinaGrandSteelMarketMember 2015-12-31 0001487843 2016-02-01 iso4217:USD xbrli:shares iso4217:USDxbrli:shares xbrli:pure yerr:Customer yerr:Supplier utr:sqm Yangtze River Development Ltd 0001487843 false --12-31 10-K 2015-12-31 2015 Smaller Reporting Company FY No Yes No 5343998 172254446 1063733 56366 512569 2937545 6259865 33025319 33025319 31566156 31566156 237475 157499 2420449 3614419 423287326 406986613 5837471 5526610 366755923 322388060 322388060 32045112 28822089 667776 126516 2428731 28203 13350 264558 560830 25158858 25274753 75000000 47185161 44502981 400862311 182923636 15100 17225 27955331 285413074 230935849 -9881148 -4575912 4335732 -2314185 26829452 -5624052 4483073 15100 27955331 22425015 -9881148 4335732 15100 27955331 224062977 -4575912 -2314185 17225 230935849 423287326 406986613 0.0001 0.0001 100000000 100000000 0.0001 0.0001 500000000 500000000 151000000 172254446 151000000 172254446 3458295 3693783 -235488 87866 11577 2090499 4547646 2178365 4559223 -2413853 -4559223 11687098 868 3231 10996 55 3256660 3199031 -3245664 8485759 -5659517 3926536 -1402421 -1378700 -4257096 -4257096 5305236 5305236 -147341 -6649917 -4404437 -1344681 -0.03 0.03 151000000 151682554 80133 79064 -3082 -1402421 -1378700 1808867 1941163 -884391 57758 1534700 -276595 -312163 -6412919 -778977 4486912 28204 -13914 72260 2257051 1577864 1517110 -5277025 -4735142 70908 11733 130 505782 -70908 494179 47187464 488146 176599 4834513 4834513 4874761 28463394 667776 126516 2428731 47187464 47187464 4346367 4698162 -5801 -996 -1007367 456203 3256660 3001771 285413074 150000000 75000000 75000000 151000000 151000000 172254446 285413074 285413074 -285413074 285413074 -86180461 2060 -86182521 20596546 3750030 65 3749965 657900 -147341 -147341 -2014912 -6649917 -6649917 -36616291 <div> <p style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 0pt; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; margin-left: 0pt; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b>1. ORGANIZATION AND PRINCIPAL ACTIVITIES</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The consolidated financial statements include the financial statements of Yangtze River Development Limited (the &#8220;Company&#8221; or &#8220;Yangtze River&#8221;) and its subsidiaries, Energetic Mind Limited (&#8220;Energetic Mind&#8221;), Ricofeliz Capital (HK) Limited (&#8220;Ricofeliz Capital&#8221;), and Wuhan Yangtze River Newport Logistics Co., Ltd. (&#8220;Wuhan Newport&#8221;).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company, formerly named as Kirin International Holding, Inc., and Ciglarette, Inc., was incorporated in the State of Nevada on December 23, 2009. The Company was a development stage company and has not generated significant revenue since inception to March 1, 2011.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On March 1, 2011, the Company entered into a share exchange agreement that Kirin China Holding Limited (&#8220;Kirin China&#8221;) became the Company&#8217;s wholly-owned subsidiary. Kirin China engaged in the development and sales of residential and commercial real estate properties, and development of land lots in People&#8217;s Republic of China (&#8220;China&#8221;, or the &#8220;PRC&#8221;).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On December 19, 2015, the Company completed a share exchange (the &#8220;Share Exchange&#8221;) with Energetic Mind and all the shareholders of Energetic Mind, whereby Yangtze River acquired 100% of the issued and outstanding capital stock of Energetic Mind, in exchange for 151,000,000 shares of Yangtze River&#8217;s common stock, which constituted approximately 88% of its issued and outstanding shares on a fully-diluted basis of Yangtze River immediately after the consummation of the Share Exchange, and an 8% convertible note (the &#8220;Note&#8221;) in the principal amount of $150,000,000. As a result of the Share Exchange, Energetic Mind became Yangtze River&#8217;s wholly-owned subsidiary and Jasper Lake Holdings Limited (&#8220;Jasper&#8221;), the former shareholder of Energetic Mind, became Yangtze River&#8217;s controlling stockholder. The Share Exchange transaction with Energetic Mind was treated as an acquisition, with Energetic Mind as the accounting acquirer and Yangtze River as the acquired party. The financial statements before the date of the Share Exchange are those of Energetic Mind with the results of the Company being consolidated from the date of the Share Exchange.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Energetic Mind owns 100% of Ricofeliz Capital and operates its business through its subsidiary Wuhan Newport.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Wuhan Newport was a wholly owned subsidiary of Wuhan Renhe Group Co., Ltd. (the &#8220;Wuhan Renhe&#8221;), a company incorporated in the PRC as at September 23, 2002. On July 13, 2015, Wuhan Renhe transferred all of the equity interests of the Company to Ricofeliz Capital, a company incorporated in Hong Kong on March 25, 2015. Ricofeliz Capital was incorporated by Energetic Mind, a company incorporated in British Virgin Islands (&#8220;BVI&#8221;). Energetic Mind was incorporated by Mr. Liu Xiangyao on January 2, 2015, and was subsequently purchased by various companies incorporated in BVI or the United States of America (&#8220;USA&#8221;), among whom Jasper became its 64% owner. Jasper was 100% owned by Mr. Liu Xiangyao, a Hong Kong citizen.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The major assets of Wuhan Newport include land lots for developing commercial buildings that are in line with the principal activities of Kirin China.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On December 31, 2015, the Company entered into certain stock purchase and business sale agreements (the &#8220;Agreements&#8221;) with Kirin Global Enterprises, Inc. (the &#8220;Purchaser&#8221;), a California corporation and an entity controlled by a former officer and director of the Company whereby the Company sold its interest in certain subsidiaries (see note 11) for an aggregate of $75,000,002. (the &#8220;Sale&#8221;).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Pursuant to the terms of the Agreements, Jasper agreed to finance the Sale by reducing Company&#8217;s financial obligations of the Note by an aggregate of $75,000,000. In addition, the Purchaser agreed to pay the remaining two dollar in cash.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Upon completion of the Sale, the Company operates its business solely through its subsidiary Wuhan Newport, primarily engaging in the business as a port logistic center located in the middle reaches of the Yangtze River in the PRC.</font></p> </div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.1 Basis of presentation</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&#8220;GAAP&#8221;).&#160;&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The consolidated financial statements include the financial statements of all the subsidiaries. All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The consolidated balance sheets are presented unclassified because the time required to complete real estate projects and the Company&#8217;s working capital considerations usually stretch for more than one-year period.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.2 Use of estimates</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.3 Cash and cash equivalents</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.4 Property and equipment</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value. Estimated useful lives of property and equipment are stated in Note 7.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.5 Impairment of long-lived assets</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.6 Fair values of financial instruments</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">ASC Topic 825, Financial Instruments (&#8220;Topic 825&#8221;) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 1 &#160;&#160;&#160;inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 2 &#160;&#160;&#160;inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 3 &#160;&#160;&#160;inputs to the valuation methodology are unobservable and significant to the fair value.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.7 Convertible notes</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC subtopic 470-20, the convertible notes are initially carried at the principal amount of the convertible notes. Debt premium or discounts, which are the differences between the carrying value and the principal amount of convertible notes at the issuance date, together with related debts issuance cost, are subsequently amortized using effective interest method as adjustments to interest expense from the debt issuance date to its first redemption date. Convertible notes are classified as a current liability if they are or will be callable by the Company or puttable by the debt holders within one year from the balance sheet date, even though liquidation may not be expected within that period.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.8&#160;Foreign currency translation and transactions</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company&#8217;s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company&#8217;s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(&#8220;RMB&#8221;) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$&#160;using the rate of exchange prevailing at the applicable balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period.&#160;&#160;Adjustments resulting from the translation are recorded in owners&#8217; equity as part of accumulated other comprehensive income.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times,;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 950.4px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Balance sheet items, except for equity accounts</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112.8px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.4917</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1460</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>For the Years Ended December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 950.4px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Items in the statements of operations and comprehensive income, and statements of cash flows</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112.8px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.2288</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1457</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.9 Revenue recognition</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer&#8217;s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer&#8217;s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.10 Real estate capitalization and cost allocation</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of40years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units&#8217; gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.11 Capitalization of interest</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.12 Advertising expenses</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.13 Share-based compensation</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company grants restricted shares to its non-employee consultants. Awards granted to non-employees are measured at fair value at the earlier of the commitment date or the date the services are completed, and are recognized using graded vesting method over the period the service is provided.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <div><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.14 Income taxes</b></font></div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.15 Land Appreciation Tax (&#8220;LAT&#8221;)</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.16 Earnings (loss) per share</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.17 Comprehensive loss</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Comprehensive loss includes net income (loss) and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.18 Contingencies</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, &#8220;Loss Contingencies&#8221;, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.19 Recently issued accounting pronouncements</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.</font></p> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>3. RISKS</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(a) Liquidity risk</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company is exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(b)&#160;Foreign currency risk</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">A majority of the Company&#8217;s operating activities and a significant portion of the Company&#8217;s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples&#8217; Bank of China (&#8220;PBOC&#8221;) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers' invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(c) Concentration risk</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">For the year ended December 31, 2014, two customers accounted for all of sales. There were no sales for the year December 31, 2015.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">Years Ended December 31,</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Customer A</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">20</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Customer B</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">80</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">100</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">For the year ended December 31, 2014, products purchased from two suppliers accounted for all of product purchases. There were no sales for the year December 31, 2015.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">Years Ended December 31,</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Supplier A</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">19</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Supplier B</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">81</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">100</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> </table> </div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif;"><b>5. REAL ESTATE PROPERTY COMPLETED</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The account balance and components of the real estate property completed were as follow:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Properties completed</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom;"><td>Wuhan Centre China Grand Steel Market</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 950.4px; text-align: left;">Costs of land use rights</td><td style="width: 12.8px;">&#160;</td><td style="width: 12.8px; text-align: left;">$</td><td style="width: 112.8px; text-align: right;">7,716,994</td><td style="width: 12.8px; text-align: left;">&#160;</td><td style="width: 12.8px;">&#160;</td><td style="width: 12px; text-align: left;">$</td><td style="width: 112px; text-align: right;">8,151,059</td><td style="width: 12px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Other development costs</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">23,849,162</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">24,874,260</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">31,566,156</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">33,025,319</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>6. REAL ESTATE PROPERTIES AND LAND LOTS UNDER DEVELOPMENT</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The components of real estate properties and land lots under development were as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Properties under development</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom;"><td>Wuhan Centre China Grand Steel Market</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Costs of land use rights</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">9,306,948</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">9,830,445</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Other development costs</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">38,982,735</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">40,385,963</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Land lots undeveloped</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">316,586,422</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">334,393,764</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">364,876,105</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">384,610,172</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015, the sole developing project is called Wuhan Centre China Grand Steel Market (Phase 1) Commercial Building in Wuhan Yangluo Economic Development Zone with approximately 222,496.6 square meters of total construction area. The Company has obtained certificates representing titles of the land use rights used for the development of the project.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Land use right with net book value of $181,287,079, including in real estate held for development and land lots undeveloped were pledged as collateral for the financial institution loan as at December 31, 2015. (See Note 10).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>7. PROPERTY AND EQUIPMENT</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company&#8217;s property and equipment used to conduct day-to-day business are recorded at cost less accumulated depreciation. Depreciation expenses are calculated using straight-line method over the estimated useful life with 5% of estimated salvage value below:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt;"><b>Useful life</b></td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td><b>&#160;</b></td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><b>Years</b></td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: center;">&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; text-align: left;">Fixture, furniture and office equipment</td><td style="width: 16px;">&#160;</td><td style="width: 173px; text-align: center;">5</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">63,474</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">56,710</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Vehicles</td><td>&#160;</td><td style="text-align: center;">5</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">528,424</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">605,642</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(434,399</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(424,877</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">Property and equipment, net</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: center; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">157,499</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">237,475</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Depreciation expense totaled $76,419 and $80,133 for the years ended December 31, 2015 and 2014, respectively.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>8. OTHER PAYABLES AND ACCRUED LIABILITIES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Other payables and accrued liabilities as of December 31, 2015 and 2014 consisted of:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Salaries payable</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">182,716</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">75,301</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Business tax and related urban construction and education surcharge</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">12,947</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">121</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Deposits from contractors</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">167,907</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">177,351</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Interests payable in connection with convertible note</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">197,260</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 1.5pt;">Others</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">11,785</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;"></td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">560,830</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">264,558</td><td style="text-align: left; padding-bottom: 4pt;"></td></tr></table> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>9. REAL ESTATE PROPERTY REFUND AND COMPENSATION PAYABLE</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the years 2012 and 2011, the Company signed 443 binding agreements of sales of commercial offices of the project with floor area of 22,790 square meters to unrelated purchasers (the transactions or the real estate sales transactions). The Company received deposits and considerations from the purchasers as required by the agreements. The construction commenced in the 2010, which was originally expected to be delivered to customers in late of 2012. No revenue was recognized from the sales of the commercial offices due to the reason stated below.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Owing to commercial reasons, the Company decided to terminate the agreements made for the sale of the real estate properties in relation to the project of Wuhan Centre China Grand Market. According to the agreements of sales, the Company is obliged to compensate the purchaser at a rate equal to 6% per annum or 0.05% per day on the deposits paid. In the years ended December 31, 2015 and 2014, the Company incurred $1,528,126 and $1,547,428 compensation expenses which were included in general and administrative expenses.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As at December 31, 2015, 375 out of 443 agreements were cancelled, and no completed office (or real estate certificate) has been delivered to the purchaser. The Company is still in the progress of negotiating with the purchasers for the cancellation of the remaining agreements. The directors of the Company are of the opinion that almost all of the purchasers shall accept the cancellation. If, finally the purchaser insisted on the execution of the agreement, the Company will accept.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Real estate property refund and compensation payable represent the amount of customer deposits received and the compensation calculated in accordance with the provisions in the sales agreements. The payable consists of the followings:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Property sales deposits</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">20,152,652</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">21,297,363</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 1.5pt;">Compensation</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">5,122,101</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">3,861,495</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">25,274,753</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">25,158,858</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>10. LOANS PAYABLE</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;" colspan="2"><b>Weighted-average</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center;" colspan="2"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><b>December 31</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><b>Bank name</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>interest rate</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>Term</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2015</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2014</b></td> <td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: center; padding-bottom: 1.5pt;">&#160;China Construction Bank</td> <td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 141px; text-align: center; padding-bottom: 1.5pt;">6.33%</td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;"></td> <td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 391px; text-align: right; padding-bottom: 1.5pt;"> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">From&#160;May&#160;30,&#160;2014 to&#160;<br />May 29, 2020</font></p> </td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td> <td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">44,502,981</td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td> <td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td> <td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">47,185,161</td> <td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Interest expenses incurred on loans payable for the years ended December 31, 2015 and 2014 was $3,001,771 and $3,256,660, respectively.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Land use right with net book value of $181,287,079, including in real estate held for development and land lots under development were pledged as collateral for the loan as at December 31, 2015.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The aggregate maturities of loans payable of each of years subsequent to December 31, 2015 are as follows:</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1379px; text-align: left;">2016</td> <td style="width: 16px;">&#160;</td> <td style="width: 16px; text-align: left;">$</td> <td style="width: 141px; text-align: right;">154,043</td> <td style="width: 15px; text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left;">2017</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">10,783,000</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left;">2018</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">10,783,000</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left;">2019</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">12,323,428</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1.5pt;">2020</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">10,459,510</td> <td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 4pt;">&#160;</td> <td style="padding-bottom: 4pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">44,502,981</td> <td style="text-align: left; padding-bottom: 4pt;">&#160;</td> </tr> </table> </div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>11. GAIN ON DISPOSAL OF SUBSIDIARIES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 31, 2015, the Company sold all of its interests in i) Brookhollow Lake, LLC, ii) Newport Property Holding, LLC, iii) wholly-owned subsidiary Kirin China, iv) wholly-owned subsidiary Kirin Hopkins Real Estate Group, v) wholly-owned subsidiary Archway Development Group LLC, vi) wholly-owned subsidiary Specturm International Enterprise, LLC and vii) wholly-owned subsidiary HHC-6055 Centre Drive LLC (collectively referred to as the &#8220;Kirin Subsidiaries&#8221;). The sale of Kirin China also effectively terminated Company&#8217;s contractual relationship with Hebei Zhongding Real Estate Development Co. Ltd and Xingtai Zhongding Jiye Real Estate Development Co., Ltd, both of which are companies formed under the laws of the People&#8217;s Republic of China and were deemed Company&#8217;s variable interest entities prior to the Sale.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company sold its interests in Kirin Subsidiaries for an aggregate of $75,000,002 for the Sale. The carrying amount of the net assets of Kirin Subsidiaries was $63,312,904 as of disposal date and the Company recognized a gain of $11,687,098 on the disposal accordingly.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>12. CONVERTIBLE NOTE</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 19, 2015, the Company issued an 8% convertible note in the principal amount of $150,000,000 to Jasper, a related party, in the Share Exchange (see note 1). The holder of the Note may convert all or any portion of the then aggregate outstanding principal amount, together with any accrued and unpaid interest, into shares of Company&#8217;s common stock at $10.00 per share.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 31, 2015, pursuant to the terms and conditions of the Agreements, Jasper, financed the Purchaser for the Sale by reducing Company&#8217;s financial obligations under the Note by an aggregate of $75,000,000 (see note 1). As a result of the Sale, the outstanding balance due to Jasper under the Note was $75,000,000 plus any accrued interest.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">There was no beneficial conversion feature attributable to the Note as the set conversion price of the Note was greater than the fair value of the common share price at the date of issuance. The Company has accounted for the Note in accordance with ASC 470-20, as a single instrument as a non-current liability. The Note is initially carried at the gross cash received at the issuance date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The interest expense for the convertible note included in the consolidated statements of operations is $197,260 and nil for the years ended December 31, 2015 and 2014. Note issuance costs are immaterial.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>13. EMPLOYEE RETIREMENT BENEFIT</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company has made employee benefit contribution in accordance with Chinese relevant regulations, including retirement insurance, unemployment insurance, medical insurance, work injury insurance and birth insurance. The Company recorded the contribution in the salary and employee charges when incurred. The contributions made by the Company were $64,005 and $17,507 for the years ended December 31, 2015 and 2014, respectively.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>14. INCOME TAXES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company was incorporated in the state of Nevada. Under the current law of Nevada, the Company is not subject to state corporate income tax. No provision for federal corporate income tax has been made in the financial statements as there are no assessable profits.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Energetic Mind was incorporated in the British Virgin Islands (&#8220;BVI&#8221;). Under the current law of the BVI, Energetic Mind is not subject to tax on income.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Ricofeliz Capital was incorporated in Hong Kong. No provision for Hong Kong profits tax has been made in the financial statements as there are no assessable profits.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Wuhan Newport was incorporated in the PRC, was governed by the income tax law of the PRC and is subject to PRC enterprise income tax (&#8220;EIT&#8221;). The EIT rate of PRC is 25%.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Income tax expenses for the years ended December 31, 2015 and 2014 are summarized as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>Current</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Deferred tax benefit</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,378,700</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,402,421</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,378,700</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,402,421</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">A reconciliation of the income tax benefit (expenses) determined at the PRC EIT income tax rate to the Company&#8217;s effective income tax benefit is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">EIT at the PRC statutory rate of 25%</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">(981,634</td><td style="width: 16px; text-align: left;">)</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">1,414,879</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Permanent items</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">2,921,774</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(12,458</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Valuation allowance</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(561,440</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,378,700</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,402,421</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. For the years ended December 31, 2015 and 2014, the Company had no unrecognized tax benefits.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company does not anticipate any significant increase to its liability for unrecognized tax benefit within the next 12 months. The Company will classify interest and penalties related to income tax matters, if any, in income tax expense.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. The tax effects of temporary differences that give rise to the following approximate deferred tax assets and liabilities as of December 31, 2015 and 2014 are presented below.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Deferred tax assets</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1177.67px; text-align: left; padding-left: 10pt;">Operating loss carry forward</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">303,237</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">229,288</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-left: 10pt;">Excess of interest expenses</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">1,398,582</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">648,140</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;">Accrued expenses</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,912,600</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,543,021</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">3,614,419</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,420,449</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company had net operating losses carry forward of $1,212,948 as of December 31, 2015 which will expire on various dates between December 31, 2018 and 2019.</font></p></div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>15. EARNINGS (LOSS) PER SHARE</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; text-transform: uppercase; font-stretch: normal;"><b>&#160;</b></font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>Numerator:</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left;">Net income (loss) for basic and diluted earnings (loss) per share</td> <td style="width: 16px;">&#160;</td> <td style="width: 16px; text-align: left;">$</td> <td style="width: 142px; text-align: right;">5,305,236</td> <td style="width: 16px; text-align: left;">&#160;</td> <td style="width: 15px;">&#160;</td> <td style="width: 15px; text-align: left;">$</td> <td style="width: 141px; text-align: right;">(4,257,096</td> <td style="width: 15px; text-align: left;">)</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td>Denominator:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td>Weighted average number of common shares outstanding-basic and diluted</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">151,682,554</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">151,000,000</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left;">Basic and diluted earnings (loss) per share</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">0.03</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">(0.03</td> <td style="text-align: left;">)</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">246,900 common shares resulting from the assumed conversions of 8% Convertible Note (note 12) were excluded from the calculation of diluted earnings (loss) per share for the years ended December 31, 2015 as their effect is anti-dilutive.</font></p> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>16. RELATED PARTY TRANSACTIONS</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>16.1 Nature of relationships with related parties</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="width: 784px; text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Name</td><td style="width: 16px; padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="width: 767px; text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Relationships with the Company</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Wuhan Renhe Group Co., Ltd (&#8220;Wuhan Renhe&#8221;)</td><td>&#160;</td><td style="text-align: left;">Former shareholder (Mr Wang Geng) of Wuhan Newport</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; vertical-align: top;">Wuhan Renhe Real Estate Co., Ltd. (&#8220;Renhe RE&#8221;)</td><td>&#160;</td><td style="text-align: left;">Mr Wang Geng, the director of the Company, holds 100% of Renhe RE</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Mr Zhao Weibin</td><td>&#160;</td><td>Officer</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Mr Liu Xiangyao</td><td>&#160;</td><td>Director</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>16.2 Related party balances and transactions</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><i>&#160;</i></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Amount due to Wuhan Renhe were $28,822,089 and $322,388,060 as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On June 30, 2015, Wuhan Renhe forgave a total amount of $285,413,074 with the Company. The Company has credited the amount of $285,413,074 to additional paid-in capital in equity.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">A summary of changes in the amount due to Wuhan Renhe is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">At beginning of year</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">322,388,060</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">366,755,923</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Advances from the related party</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">28,463,394</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">4,834,513</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Repayment to the related party</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(47,187,464</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Forgiveness of loan</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(285,413,074</td><td style="text-align: left;">)</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Exchange difference adjustment</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(36,616,291</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(2,014,912</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">28,822,089</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">322,388,060</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Amount due to Renhe RE were $667,776 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">A summary of changes in the amount due to Renhe RE is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the related party</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">667,776</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">667,776</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">Amount due to Mr Zhao Weibin were $ 126,516 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">A summary of changes in the amount due to Mr Zhao Weibin is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the officer</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">126,516</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">126,516</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Amount due to Mr Liu Xiangyao were $2,428,731 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">A summary of changes in the amount due to Mr Liu Xiangyao is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-size-adjust: none; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the director</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">2,428,731</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,428,731</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>17. SHARE-BASED COMPENSATION EXPENSES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 27, 2015, the Company granted 317,345 and 340,555 shares of the Company&#8217;s restricted common stock to a number of consultants, in exchange for its legal and professional services to the Company for the years ended December 31, 2015 and 2016, respectively. These shares were valued at $5.7 per share, the closing bid price of the Company&#8217;s common stock on the date of grant. Total compensation expense recognized in the general and administrative expenses of the consolidated statement of operations for the year ended December 31, 2015 was $1,808,867. Total compensation expense of approximately $1,941,163 will be recognized in 2016. The shares attributable to fiscal 2015 and 2016 were issued on December 30, 2015.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>18. CONCENTRATION OF CREDIT RISKS</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015 and 2014, substantially all of the Company&#8217;s cash and cash equivalents were held by major financial institutions located in China and the US, which management believes are of high credit quality.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company&#8217;s operations are carried out in the PRC. Accordingly, the Company&#8217;s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC&#8217;s economy. The business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">No customer accounted for more than 10% of total accounts receivable as of December 31, 2015 and 2014.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>19. COMMITMENTS AND CONTINGENCIES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><i>Operating lease commitments</i></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">For the years ended December 31, 2015 and 2014, rental expenses under operating leases were $6,000 and nil, respectively.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The future obligations for operating leases as of December 31, 2015 are as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;">2016</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 141px; text-align: right;">72,000</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">2017</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">18,000</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">Total minimum payment required</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">90,000</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><i>Legal proceeding</i></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company is not currently a party to any legal proceeding, investigation or claim which, in the opinion of the management, is likely to have a material adverse effect on the business, financial condition or results of operations.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company did not identify any contingency as of December 31, 2015.</font></p></div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>20. SUBSEQUENT EVENT</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The management evaluated all events subsequent to the balance sheet date through the date the consolidated financial statements were available to be issued. Except for the followings, there are no significant matters to make material adjustments or disclosure in the consolidated financial statements.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On January 13, 2016, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of the State of Nevada, changing its name from &#8220;Kirin International Holding, Inc.&#8221; to &#8220;Yangtze River Development Limited&#8221;.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Effective January 22, 2016, upon approval by FINRA, Yangtze River Development Limited, or formerly Kirin International Holding, Inc., changed its stock symbol from &#8220;KIRI&#8221; to &#8220;YERR&#8221;.</p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">On January 25, the board of directors (the &#8220;Board&#8221;) of the Company formed and adopted charters for six standing committees: Audit Committee, Compensation Committee, Nomination Committee, Governance and Human Resources Committee, Board Oversight Committee, Social Media Committee (collectively the &#8220;Committees&#8221;). Each Committee consists of only independent directors of the Company. The Board also adopted charter for the Regulatory, Compliance and Government Affairs Committee, for which the charter will be implemented once the committee is formed. The Company believes that the adoption of these charters and formation of these Committees are necessary for the implementation of effective internal control and oversight and a significant step towards remediating any material weakness the Company currently has. Members of the Committees are as set forth below</font></p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Audit Committee: Harvey Leibowitz (Chair), Zhihong Su, Daniel W. Heffernan, Romano Tio, Tongmin Wang</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Compensation Committee: Harvey Leibowitz (Chair), Zhihong Su, Zhixue Liu, Romano Tio, Daniel W. Heffernan</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Nomination Committee: Daniel W. Heffernan (Chair), Harvey Leibowitz, Zhixue Liu, Romano Tio, Zhihong Su</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Governance and Human Resources Committee: Zhihong Su (Chair), Harvey Leibowitz, Romano Tio, Daniel W. Heffernan, Tongmin Wang</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Board Oversight Committee: Daniel W. Heffernan (Chair), Zhixue Liu, Harvey Leibowitz, Romano Tio, Zhihong Su</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0px; text-align: justify;"></td> <td style="width: 24pt; text-align: justify;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times, serif;">Social Media Committee: Romano Tio (Chair), Harvey Leibowitz, Zhihong Su, Daniel W. Heffernan, Tongmin Wang</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">The Company believes that all members of each of the audit and compensation committees are independent and that Mr. Harvey Leibowitz qualifies as an &#8220;audit committee financial expert,&#8221; as that term is defined in applicable regulations of the SEC.</font></p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Audit Committee is responsible for making such examinations as are necessary to monitor the corporate financial reporting and external audits of the Company and its subsidiaries; to provide to the Board the results of its examinations and recommendations derived there from; to outline to the Board improvements made, or to be made, in internal accounting controls; to nominate independent auditor; and to provide to the Board such additional information and materials as it may deem necessary to make the Board aware of significant financial matters requiring Board attention.</p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company believes that the adoption of these charters and formation of these Committees, specifically that of the Audit Committee, are necessary for the implementation of effective internal control.</p> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.1 Basis of presentation</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (&#8220;GAAP&#8221;).&#160;&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The consolidated financial statements include the financial statements of all the subsidiaries. All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The consolidated balance sheets are presented unclassified because the time required to complete real estate projects and the Company&#8217;s working capital considerations usually stretch for more than one-year period.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.2 Use of estimates</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.3 Cash and cash equivalents</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.4 Property and equipment</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value. Estimated useful lives of property and equipment are stated in Note 7.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.5 Impairment of long-lived assets</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.6 Fair values of financial instruments</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">ASC Topic 825, Financial Instruments (&#8220;Topic 825&#8221;) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 1 &#160;&#160;&#160;inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 2 &#160;&#160;&#160;inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 3 &#160;&#160;&#160;inputs to the valuation methodology are unobservable and significant to the fair value.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.7 Convertible notes</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC subtopic 470-20, the convertible notes are initially carried at the principal amount of the convertible notes. Debt premium or discounts, which are the differences between the carrying value and the principal amount of convertible notes at the issuance date, together with related debts issuance cost, are subsequently amortized using effective interest method as adjustments to interest expense from the debt issuance date to its first redemption date. Convertible notes are classified as a current liability if they are or will be callable by the Company or puttable by the debt holders within one year from the balance sheet date, even though liquidation may not be expected within that period.</font></p></div> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.8&#160;Foreign currency translation and transactions</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company&#8217;s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company&#8217;s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(&#8220;RMB&#8221;) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$&#160;using the rate of exchange prevailing at the applicable balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period.&#160;&#160;Adjustments resulting from the translation are recorded in owners&#8217; equity as part of accumulated other comprehensive income.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 950.4px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Balance sheet items, except for equity accounts</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112.8px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.4917</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1460</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font>&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>For the Years Ended December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 950.4px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Items in the statements of operations and comprehensive income, and statements of cash flows</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112.8px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.2288</font></td> <td style="width: 12.8px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12.8px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 112px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1457</font></td> <td style="width: 12px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> </div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.9 Revenue recognition</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer&#8217;s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer&#8217;s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.10 Real estate capitalization and cost allocation</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of40years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units&#8217; gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.11 Capitalization of interest</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.12 Advertising expenses</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.13 Share-based compensation</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company grants restricted shares to its non-employee consultants. Awards granted to non-employees are measured at fair value at the earlier of the commitment date or the date the services are completed, and are recognized using graded vesting method over the period the service is provided.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.14 Income taxes</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.15 Land Appreciation Tax (&#8220;LAT&#8221;)</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.16 Earnings (loss) per share</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.17 Comprehensive loss</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Comprehensive loss includes net income (loss) and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.</font></p></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.18 Contingencies</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, &#8220;Loss Contingencies&#8221;, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.</font></p></div> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>2.19 Recently issued accounting pronouncements</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.</font></p> </div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Balance sheet items, except for equity accounts</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.4917</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1460</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;"><b>For the Years Ended December 31,</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2015</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> <td style="text-align: center; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;"><b>2014</b></font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"><b>&#160;</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Items in the statements of operations and comprehensive income, and statements of cash flows</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.2288</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">6.1457</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;"></font></td> </tr> </table> <div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">Years Ended December 31,</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Customer A</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">20</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Customer B</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">80</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">100</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">Years Ended December 31,</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Supplier A</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">19</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Supplier B</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">81</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">100</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> </table> </div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="font-weight: bold; padding-bottom: 1.5pt;">&#160;</td> <td style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="font-weight: bold; padding-bottom: 1.5pt;">&#160;</td> <td style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="font-weight: bold; padding-bottom: 1.5pt;">&#160;</td> <td style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left;">Salaries payable</td> <td style="width: 16px;">&#160;</td> <td style="width: 16px; text-align: left;">$</td> <td style="width: 142px; text-align: right;">182,716</td> <td style="width: 16px; text-align: left;">&#160;</td> <td style="width: 15px;">&#160;</td> <td style="width: 15px; text-align: left;">$</td> <td style="width: 141px; text-align: right;">75,301</td> <td style="width: 15px; text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left;">Business tax and related urban construction and education surcharge</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">12,947</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">121</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left;">Deposits from contractors</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">167,907</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">177,351</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left;">Interests payable in connection with convertible note</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">197,260</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">-</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 1.5pt;">Others</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">11,785</td> <td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 4pt;">&#160;</td> <td style="padding-bottom: 4pt;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">560,830</td> <td style="padding-bottom: 4pt; text-align: left;">&#160;</td> <td style="padding-bottom: 4pt;">&#160;</td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">264,558</td> <td style="padding-bottom: 4pt; text-align: left;"></td> </tr> </table> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td> <td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>Properties completed</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>Wuhan Centre China Grand Steel Market</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; text-align: left;">Costs of land use rights</td> <td style="width: 16px;">&#160;</td> <td style="width: 16px; text-align: left;">$</td> <td style="width: 142px; text-align: right;">7,716,994</td> <td style="width: 16px; text-align: left;">&#160;</td> <td style="width: 15px;">&#160;</td> <td style="width: 15px; text-align: left;">$</td> <td style="width: 141px; text-align: right;">8,151,059</td> <td style="width: 15px; text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1.5pt;">Other development costs</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">23,849,162</td> <td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">24,874,260</td> <td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 4pt;">&#160;</td> <td style="padding-bottom: 4pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">31,566,156</td> <td style="text-align: left; padding-bottom: 4pt;">&#160;</td> <td style="padding-bottom: 4pt;">&#160;</td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">33,025,319</td> </tr> </table> </div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Properties under development</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom;"><td>Wuhan Centre China Grand Steel Market</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Costs of land use rights</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">9,306,948</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">9,830,445</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Other development costs</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">38,982,735</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">40,385,963</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Land lots undeveloped</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">316,586,422</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">334,393,764</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">364,876,105</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">384,610,172</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt;"><b>Useful life</b></td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td><b>&#160;</b></td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><b>Years</b></td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: center;">&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; text-align: left;">Fixture, furniture and office equipment</td><td style="width: 16px;">&#160;</td><td style="width: 173px; text-align: center;">5</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">63,474</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">56,710</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Vehicles</td><td>&#160;</td><td style="text-align: center;">5</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">528,424</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">605,642</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(434,399</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(424,877</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">Property and equipment, net</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: center; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">157,499</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">237,475</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Property sales deposits</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">20,152,652</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">21,297,363</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 1.5pt;">Compensation</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">5,122,101</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">3,861,495</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">25,274,753</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">25,158,858</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; font-stretch: normal;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: center;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;" colspan="2"><b>Weighted-average</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center;" colspan="2"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><b>December 31</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td></tr><tr style="vertical-align: bottom;"><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><b>Bank name</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>interest rate</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>Term</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2015</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><b>2014</b></td><td style="text-align: center; padding-bottom: 1.5pt;"><b>&#160;</b></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: center; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;China Construction Bank</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 141px; text-align: center; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">6.33%</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 391px; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">From&#160;May&#160;30,&#160;2014 to&#160;<br />May 29, 2020</font></p></td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 141px; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">44,502,981</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 1.5pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 15px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; width: 141px; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">47,185,161</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;">2016</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 141px; text-align: right;">154,043</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">2017</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">10,783,000</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">2018</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">10,783,000</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">2019</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">12,323,428</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">2020</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">10,459,510</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">44,502,981</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>Current</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Deferred tax benefit</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,378,700</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,402,421</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,378,700</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,402,421</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; font-stretch: normal;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td></td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">EIT at the PRC statutory rate of 25%</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">(981,634</td><td style="width: 16px; text-align: left;">)</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">1,414,879</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Permanent items</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">2,921,774</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(12,458</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Valuation allowance</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(561,440</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">$</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">1,378,700</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">&#160;</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">$</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">1,402,421</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Deferred tax assets</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1177.67px; text-align: left; padding-left: 10pt;">Operating loss carry forward</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">303,237</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">229,288</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-left: 10pt;">Excess of interest expenses</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">1,398,582</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">648,140</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;">Accrued expenses</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,912,600</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">1,543,021</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">3,614,419</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,420,449</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1039.33px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Years Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>Numerator:</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 790px; text-align: left;">Net income (loss) for basic and diluted earnings (loss) per share</td><td style="width: 10.66px;">&#160;</td><td style="width: 10.66px; text-align: left;">$</td><td style="width: 94px; text-align: right;">5,305,236</td><td style="width: 10.66px; text-align: left;">&#160;</td><td style="width: 10px;">&#160;</td><td style="width: 10px; text-align: left;">$</td><td style="width: 93.33px; text-align: right;">(4,257,096</td><td style="width: 10px; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>Denominator:</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Weighted average number of common shares outstanding-basic and diluted</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">151,682,554</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">151,000,000</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Basic and diluted earnings (loss) per share</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">0.03</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">(0.03</td><td style="text-align: left;">)</td></tr></table></div> <div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">At beginning of year</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">322,388,060</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">366,755,923</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Advances from the related party</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">28,463,394</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">4,834,513</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Repayment to the related party</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(47,187,464</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Forgiveness of loan</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">(285,413,074</td><td style="text-align: left;">)</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Exchange difference adjustment</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(36,616,291</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(2,014,912</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">28,822,089</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">322,388,060</td></tr></table></div> <div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the related party</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">667,776</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">667,776</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the officer</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">126,516</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">126,516</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td><td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-weight: bold;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">At beginning of year</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">$</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1191px; text-align: left; padding-bottom: 1.5pt;">Advances from the director</td><td style="width: 16px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 142px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">2,428,731</td><td style="width: 16px; text-align: left; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="width: 15px; text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">At end of year</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,428,731</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">-</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;">2016</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 141px; text-align: right;">72,000</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">2017</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">18,000</td><td style="text-align: left; padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt;">Total minimum payment required</td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">90,000</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table></div> 1.00 1.00 151000000 0.88 0.08 0.08 0.08 150000000 150000000 Energetic Mind was incorporated by Mr. Liu Xiangyao on January 2, 2015, and was subsequently purchased by various companies incorporated in BVI or the United States of America ("USA"), among whom Jasper became its 64% owner. Jasper was 100% owned by Mr. Liu Xiangyao, a Hong Kong citizen. Energetic Mind owns 100% of Ricofeliz Capital and operates its business through its subsidiary Wuhan Newport. 75000002 6.1460 6.4917 6.1457 6.2288 The Company acquires land use rights with lease terms of40years through government sale transaction. 47187 7724 0.30 0.60 0.01 0.02 0.10 0.19 0.81 1.00 0.20 0.80 1.00 0.10 2 2 3611 847 12431 361 72346 1941163 -1606000 1814991 1726408 1033805 985447 Business tax and LAT are payable each year at 5% and 1% - 2% respectively of customer deposits received. 8151059 7716994 384610172 384610172 364876105 364876105 22790 22790 222496.6 181287079 P5Y P5Y 56710 605642 63474 528424 424877 434399 75301 182716 177351 167907 121 12947 11785 264558 560830 According to the agreements of sales, the Company is obliged to compensate the purchaser at a rate equal to 6% per annum or 0.05% per day on the deposits paid. 443 443 As at December 31, 2015, 375 out of 443 agreements were cancelled, and no completed office (or real estate certificate) has been delivered to the purchaser. 21297363 20152652 3861495 5122101 From May 30, 2014 to May 29, 2020 0.0633 154043 10783000 10783000 12323428 10459510 181287079 63312904 75000000 17507 64005 1414879 -981634 -12458 2921774 561440 229288 303237 648140 1398582 1543021 1912600 2420449 3614419 0.25 1212948 Various dates between December 31, 2018 and 2019. 246900 317345 340555 5.7 72000 18000 90000 6000 <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>4. OTHER ASSETS AND RECEIVABLES</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Other assets and receivables as of December 31, 2015 and 2014 consisted of:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom;"><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom;"><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; color: black;"><font style="font-family: 'times new roman', times, serif;">Deposits</font></td><td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">847</font></td><td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">3,611</font></td><td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Working capital borrowed by contractors</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">12,431</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Individual income tax receivable</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">361</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Staff allowance</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">72,346</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Prepaid consulting and legal fees</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,941,163</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Underwriting commission deposit</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,606,000</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Excessive business tax and related urban construction and education surcharge</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,726,408</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,814,991</font></td><td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Excessive land appreciation tax</font></td><td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">985,447</font></td><td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">1,033,805</font></td><td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">6,259,865</font></td><td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td><td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">2,937,545</font></td><td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: uppercase; font-family: 'times new roman', times, serif; font-size: 10pt;"><b>&#160;</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Business tax and LAT are payable each year at 5% and 1% - 2% respectively of customer deposits received. The Company recognizes sales related business tax and LAT in the income statement to the extent that they are proportionate to the revenue recognized each period. Any excessive amounts of business and LAT liabilities recognized at period-end pursuant to tax laws and regulations over the amounts recognized in the income statement are capitalized in prepayments and will be expensed in subsequent periods.</font></p> <div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: center; color: black; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="color: black; padding-bottom: 1.5pt; font-weight: bold;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;" colspan="2"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1191px; color: black;"><font style="font-family: 'times new roman', times, serif;">Deposits</font></td> <td style="width: 16px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">847</font></td> <td style="width: 16px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 141px; text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">3,611</font></td> <td style="width: 15px; text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Working capital borrowed by contractors</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">12,431</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Individual income tax receivable</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">361</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Staff allowance</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font>&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">72,346</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Prepaid consulting and legal fees</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,941,163</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Underwriting commission deposit</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,606,000</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">Excessive business tax and related urban construction and education surcharge</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,726,408</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black;"><font style="font-family: 'times new roman', times, serif;">1,814,991</font></td> <td style="text-align: left; color: black;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Excessive land appreciation tax</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">985,447</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">1,033,805</font></td> <td style="text-align: left; color: black; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">6,259,865</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> <td style="text-align: left; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="text-align: right; color: black; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">2,937,545</font></td> <td style="text-align: left; color: black; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></td> </tr> </table> </div> 0.05 24874260 23849162 9830445 9306948 40385963 38982735 334393764 316586422 1547428 1528126 197260 10.00 197260 0.08 0.50 EX-101.SCH 9 yerr-20151231.xsd XBRL SCHEMA FILE 001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Consolidated Statements of Operations and Comprehensive Loss link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Consolidated Statements of Changes in Equity link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Condensed Consolidated Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Organization and Principal Activities link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Risks link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Other Assets and Receivables link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Real Estate Property Completed link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Real Estate Properties and Land Lots Under Development link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Property and Equipment link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Other Payables and Accrued Liabilities link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Real Estate Property Refund and Compensation Payable link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Loans Payable link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Gain on Disposal of Subsidiaries link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Convertible Note link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Employee Retirement Benefit link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Earnings (Loss) Per Share link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Share-Based Compensation Expenses link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Concentration of Credit Risks link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Subsequent Event link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Risks (Tables) link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Other Assets and Receivables (Tables) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Real Estate Property Completed (Tables) link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Real Estate Properties and Land Lots Under Development (Tables) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Property and Equipment (Tables) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Other Payables and Accrued Liabilities (Tables) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Real Estate Property Refund and Compensation Payable (Tables) link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Loans Payable (Tables) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Income Taxes (Tables) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Earnings (Loss) Per Share (Tables) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Related Party Transactions (Tables) link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Commitments and Contingencies (Tables) link:presentationLink link:definitionLink link:calculationLink 041 - Disclosure - Organization and Principal Activities (Details) link:presentationLink link:definitionLink link:calculationLink 042 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 043 - Disclosure - Summary of Significant Accounting Policies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 044 - Disclosure - Risks (Details) link:presentationLink link:definitionLink link:calculationLink 045 - Disclosure - Risks (Details Textual) link:presentationLink link:definitionLink link:calculationLink 046 - Disclosure - Other Assets and Receivables (Details) link:presentationLink link:definitionLink link:calculationLink 047 - Disclosure - Other Assets and Receivables (Details Textual) link:presentationLink link:definitionLink link:calculationLink 048 - Disclosure - Real Estate Property Completed (Details) link:presentationLink link:definitionLink link:calculationLink 049 - Disclosure - Real Estate Properties and Land Lots Under Development (Details) link:presentationLink link:definitionLink link:calculationLink 050 - Disclosure - Real Estate Properties and Land Lots Under Development (Details Textual) link:presentationLink link:definitionLink link:calculationLink 051 - Disclosure - Property and Equipment (Details) link:presentationLink link:definitionLink link:calculationLink 052 - Disclosure - Property and Equipment (Details Textual) link:presentationLink link:definitionLink link:calculationLink 053 - Disclosure - Other Payables and Accrued Liabilities (Details) link:presentationLink link:definitionLink link:calculationLink 054 - Disclosure - Real Estate Property Refund and Compensation Payable (Details) link:presentationLink link:definitionLink link:calculationLink 055 - Disclosure - Real Estate Property Refund and Compensation Payable (Details Textual) link:presentationLink link:definitionLink link:calculationLink 056 - Disclosure - Loans Payable (Details) link:presentationLink link:definitionLink link:calculationLink 057 - Disclosure - Loans Payable (Details 1) link:presentationLink link:definitionLink link:calculationLink 058 - Disclosure - Loans Payable (Details Textual) link:presentationLink link:definitionLink link:calculationLink 059 - Disclosure - Gain on Disposal of Subsidiaries (Details) link:presentationLink link:definitionLink link:calculationLink 060 - Disclosure - Convertible Note (Details) link:presentationLink link:definitionLink link:calculationLink 061 - Disclosure - Employee Retirement Benefit (Details) link:presentationLink link:definitionLink link:calculationLink 062 - Disclosure - Income Taxes (Details) link:presentationLink link:definitionLink link:calculationLink 063 - Disclosure - Income Taxes (Details 1) link:presentationLink link:definitionLink link:calculationLink 064 - Disclosure - Income Taxes (Details 2) link:presentationLink link:definitionLink link:calculationLink 065 - Disclosure - Income Taxes (Details Textual) link:presentationLink link:definitionLink link:calculationLink 066 - Disclosure - Earnings (Loss) Per Share (Details) link:presentationLink link:definitionLink link:calculationLink 067 - Disclosure - Earnings (Loss) Per Share (Details Textual) link:presentationLink link:definitionLink link:calculationLink 068 - Disclosure - Related Party Transactions (Details) link:presentationLink link:definitionLink link:calculationLink 069 - Disclosure - Related Party Transactions (Details Textual) link:presentationLink link:definitionLink link:calculationLink 070 - Disclosure - Share - Based Compensation Expenses (Details) link:presentationLink link:definitionLink link:calculationLink 071 - Disclosure - Concentration of Credit Risks (Details) link:presentationLink link:definitionLink link:calculationLink 072 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:definitionLink link:calculationLink 073 - Disclosure - Commitments and Contingencies (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 10 yerr-20151231_cal.xml XBRL CALCULATION FILE EX-101.DEF 11 yerr-20151231_def.xml XBRL DEFINITION FILE EX-101.LAB 12 yerr-20151231_lab.xml XBRL LABEL FILE EX-101.PRE 13 yerr-20151231_pre.xml XBRL PRESENTATION FILE GRAPHIC 14 fincover.jpg GRAPHIC begin 644 fincover.jpg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end GRAPHIC 15 finsig_001.jpg GRAPHIC begin 644 finsig_001.jpg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end GRAPHIC 16 image_001.jpg GRAPHIC begin 644 image_001.jpg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end GRAPHIC 17 image_002.jpg GRAPHIC begin 644 image_002.jpg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end GRAPHIC 18 image_003.jpg GRAPHIC begin 644 image_003.jpg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end
GRAPHIC 19 image_15.jpg GRAPHIC begin 644 image_15.jpg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htm IDEA: XBRL DOCUMENT v3.3.1.900
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2015
Feb. 01, 2016
Jun. 30, 2015
Document and Entity Information [Abstract]      
Entity Registrant Name Yangtze River Development Ltd    
Entity Central Index Key 0001487843    
Amendment Flag false    
Current Fiscal Year End Date --12-31    
Document Type 10-K    
Document Period End Date Dec. 31, 2015    
Document Fiscal Year Focus 2015    
Document Fiscal Period Focus FY    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers Yes    
Entity Current Reporting Status No    
Entity Filer Category Smaller Reporting Company    
Entity Public Float     $ 5,343,998
Entity Common Stock, Shares Outstanding   172,254,446  
XML 21 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
ASSETS    
Cash and cash equivalents $ 512,569 $ 56,366
Other assets and receivables 6,259,865 2,937,545
Real estate property completed 31,566,156 33,025,319
Real estate properties and land lots under development 364,876,105 384,610,172
Property and equipment, net 157,499 237,475
Deferred tax assets 3,614,419 2,420,449
Total Assets 406,986,613 423,287,326
Liabilities    
Accounts payable 5,526,610 5,837,471
Due to related parties 32,045,112 322,388,060
Other taxes payable 13,350 28,203
Other payables and accrued liabilities 560,830 264,558
Real estate property refund and compensation payable 25,274,753 $ 25,158,858
Convertible note 75,000,000
Loans payable 44,502,981 $ 47,185,161
Total liabilities $ 182,923,636 $ 400,862,311
Equity    
Preferred stock at $0.0001 par value; 100,000,000 shares authorized; none issued or outstanding
Common stock at $0.0001 par value; 500,000,000 shares authorized; 172,254,446 and 151,000,000 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively $ 17,225 $ 15,100
Additional paid-in capital 230,935,849 27,955,331
Accumulated losses (4,575,912) (9,881,148)
Accumulated other comprehensive (loss) income (2,314,185) 4,335,732
Total Equity 224,062,977 22,425,015
Total Liabilities and Equity $ 406,986,613 $ 423,287,326
XML 22 R3.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2015
Dec. 31, 2014
Balance Sheets [Abstract]    
Preferred stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized 100,000,000 100,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 500,000,000 500,000,000
Common stock, shares issued 172,254,446 151,000,000
Common stock, shares outstanding 172,254,446 151,000,000
XML 23 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Statements of Operations [Abstract]    
Revenue $ 3,458,295
Cost of revenue 3,693,783
Gross loss (235,488)
Operating expenses    
Selling expenses $ 11,577 87,866
General and administrative expenses 4,547,646 2,090,499
Total operating expenses 4,559,223 2,178,365
Loss from operations (4,559,223) $ (2,413,853)
Other income (expenses)    
Gain on disposal of subsidiaries 11,687,098
Other income 868
Other expenses (3,231)
Interest income 55 $ 10,996
Interest expenses (3,199,031) (3,256,660)
Total other income (expenses) 8,485,759 (3,245,664)
Income (loss) before income taxes 3,926,536 (5,659,517)
Income taxes benefit 1,378,700 1,402,421
Net income (loss) 5,305,236 (4,257,096)
Other comprehensive loss    
Foreign currency translation adjustments (6,649,917) (147,341)
Comprehensive loss $ (1,344,681) $ (4,404,437)
Earnings (loss) per share - basic and diluted $ 0.03 $ (0.03)
Weighted average shares outstanding - basic and diluted 151,682,554 151,000,000
XML 24 R5.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Changes in Equity - USD ($)
Total
Common stock
Additional paid-in capital
Accumulated losses
Accumulated other comprehensive (loss) income
Beginning Balance at Dec. 31, 2013 $ 26,829,452 $ 15,100 $ 27,955,331 $ (5,624,052) $ 4,483,073
Beginning Balance, shares at Dec. 31, 2013   151,000,000      
Net income (loss) (4,257,096)   $ (4,257,096)
Foreign currency translation adjustment (147,341)   $ (147,341)
Ending Balance at Dec. 31, 2014 22,425,015 $ 15,100 $ 27,955,331 $ (9,881,148) 4,335,732
Ending Balance, shares at Dec. 31, 2014   151,000,000      
Forgiveness of loan from Wuhan Renhe 285,413,074 285,413,074  
Effect of share exchange (86,180,461) $ 2,060 (86,182,521)  
Effect of share exchange, shares   20,596,546      
Restricted shares issued for services 3,750,030 $ 65 $ 3,749,965  
Restricted shares issued for services, shares   657,900      
Net income (loss) 5,305,236 $ 5,305,236  
Foreign currency translation adjustment (6,649,917)   (6,649,917)
Ending Balance at Dec. 31, 2015 $ 224,062,977 $ 17,225 $ 230,935,849 $ (4,575,912) $ (2,314,185)
Ending Balance, shares at Dec. 31, 2015   172,254,446      
XML 25 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:    
Net income (loss) $ 5,305,236 $ (4,257,096)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation of property, and equipment 79,064 $ 80,133
Loss on disposal of property, and equipment 3,082
Deferred tax benefit (1,378,700) $ (1,402,421)
Gain on disposal of subsidiaries (11,687,098)
Share-based compensation expense $ 1,808,867  
Changes in operating assets and liabilities:    
Prepayments $ 884,391
Other assets and receivables $ (1,534,700) (57,758)
Real estate property completed (312,163) (276,595)
Real estate properties and land lots under development $ (778,977) (6,412,919)
Accounts payable 4,486,912
Other taxes payable $ (13,914) 28,204
Other payables and accrued liabilities 2,257,051 72,260
Real estate property refund and compensation payables 1,517,110 1,577,864
Net Cash Used In Operating Activities (4,735,142) (5,277,025)
Cash Flows from Investing Activities:    
Purchase of property and equipment (11,733) $ (70,908)
Proceeds from disposal of property and equipment 130
Effect of share exchange 505,782
Net Cash Provided By (Used In) Investing Activities $ 494,179 $ (70,908)
Cash Flows from Financing Activities:    
Proceeds from financial institution loans 47,187,464
Repayment of financial institution loans $ (176,599) (488,146)
Advances from related parties $ 4,874,761 4,834,513
Repayment to related parties (47,187,464)
Net Cash Provided By Financing Activities $ 4,698,162 4,346,367
Effect of Exchange Rate Changes on Cash and Cash Equivalents (996) (5,801)
Net Increase (Decrease) In Cash and Cash Equivalents 456,203 (1,007,367)
Cash and Cash Equivalents at Beginning of Year 56,366 1,063,733
Cash and Cash Equivalents at End of Year 512,569 56,366
Supplemental Cash Flow Information:    
Cash paid for interest expense $ 3,001,771 $ 3,256,660
Cash paid for income tax
Supplemental Disclosure of Non-Cash Transactions:    
Forgiveness of loans from an owner $ 285,413,074
Issuance of convertible note 150,000,000
Reduction of convertible note $ 75,000,000
XML 26 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Organization and Principal Activities
12 Months Ended
Dec. 31, 2015
Organization and Principal Activities [Abstract]  
ORGANIZATION AND PRINCIPAL ACTIVITIES

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

 

The consolidated financial statements include the financial statements of Yangtze River Development Limited (the “Company” or “Yangtze River”) and its subsidiaries, Energetic Mind Limited (“Energetic Mind”), Ricofeliz Capital (HK) Limited (“Ricofeliz Capital”), and Wuhan Yangtze River Newport Logistics Co., Ltd. (“Wuhan Newport”).

 

The Company, formerly named as Kirin International Holding, Inc., and Ciglarette, Inc., was incorporated in the State of Nevada on December 23, 2009. The Company was a development stage company and has not generated significant revenue since inception to March 1, 2011.

 

On March 1, 2011, the Company entered into a share exchange agreement that Kirin China Holding Limited (“Kirin China”) became the Company’s wholly-owned subsidiary. Kirin China engaged in the development and sales of residential and commercial real estate properties, and development of land lots in People’s Republic of China (“China”, or the “PRC”).

 

On December 19, 2015, the Company completed a share exchange (the “Share Exchange”) with Energetic Mind and all the shareholders of Energetic Mind, whereby Yangtze River acquired 100% of the issued and outstanding capital stock of Energetic Mind, in exchange for 151,000,000 shares of Yangtze River’s common stock, which constituted approximately 88% of its issued and outstanding shares on a fully-diluted basis of Yangtze River immediately after the consummation of the Share Exchange, and an 8% convertible note (the “Note”) in the principal amount of $150,000,000. As a result of the Share Exchange, Energetic Mind became Yangtze River’s wholly-owned subsidiary and Jasper Lake Holdings Limited (“Jasper”), the former shareholder of Energetic Mind, became Yangtze River’s controlling stockholder. The Share Exchange transaction with Energetic Mind was treated as an acquisition, with Energetic Mind as the accounting acquirer and Yangtze River as the acquired party. The financial statements before the date of the Share Exchange are those of Energetic Mind with the results of the Company being consolidated from the date of the Share Exchange.

 

Energetic Mind owns 100% of Ricofeliz Capital and operates its business through its subsidiary Wuhan Newport.

 

Wuhan Newport was a wholly owned subsidiary of Wuhan Renhe Group Co., Ltd. (the “Wuhan Renhe”), a company incorporated in the PRC as at September 23, 2002. On July 13, 2015, Wuhan Renhe transferred all of the equity interests of the Company to Ricofeliz Capital, a company incorporated in Hong Kong on March 25, 2015. Ricofeliz Capital was incorporated by Energetic Mind, a company incorporated in British Virgin Islands (“BVI”). Energetic Mind was incorporated by Mr. Liu Xiangyao on January 2, 2015, and was subsequently purchased by various companies incorporated in BVI or the United States of America (“USA”), among whom Jasper became its 64% owner. Jasper was 100% owned by Mr. Liu Xiangyao, a Hong Kong citizen.

 

The major assets of Wuhan Newport include land lots for developing commercial buildings that are in line with the principal activities of Kirin China.

 

On December 31, 2015, the Company entered into certain stock purchase and business sale agreements (the “Agreements”) with Kirin Global Enterprises, Inc. (the “Purchaser”), a California corporation and an entity controlled by a former officer and director of the Company whereby the Company sold its interest in certain subsidiaries (see note 11) for an aggregate of $75,000,002. (the “Sale”).

 

Pursuant to the terms of the Agreements, Jasper agreed to finance the Sale by reducing Company’s financial obligations of the Note by an aggregate of $75,000,000. In addition, the Purchaser agreed to pay the remaining two dollar in cash.

 

Upon completion of the Sale, the Company operates its business solely through its subsidiary Wuhan Newport, primarily engaging in the business as a port logistic center located in the middle reaches of the Yangtze River in the PRC.

XML 27 R8.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies
12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

2.1 Basis of presentation

 

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

 

The consolidated financial statements include the financial statements of all the subsidiaries. All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

 

The consolidated balance sheets are presented unclassified because the time required to complete real estate projects and the Company’s working capital considerations usually stretch for more than one-year period.

 

2.2 Use of estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.

 

2.3 Cash and cash equivalents

 

Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations.

 

2.4 Property and equipment

 

The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value. Estimated useful lives of property and equipment are stated in Note 7.

 

The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.

 

2.5 Impairment of long-lived assets

 

The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.

 

The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.

 

2.6 Fair values of financial instruments

 

ASC Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.

 

Level 1    inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2    inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

Level 3    inputs to the valuation methodology are unobservable and significant to the fair value.

 

As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.

 

2.7 Convertible notes

 

In accordance with ASC subtopic 470-20, the convertible notes are initially carried at the principal amount of the convertible notes. Debt premium or discounts, which are the differences between the carrying value and the principal amount of convertible notes at the issuance date, together with related debts issuance cost, are subsequently amortized using effective interest method as adjustments to interest expense from the debt issuance date to its first redemption date. Convertible notes are classified as a current liability if they are or will be callable by the Company or puttable by the debt holders within one year from the balance sheet date, even though liquidation may not be expected within that period.

 

2.8 Foreign currency translation and transactions

 

The Company’s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company’s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(“RMB”) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.

 

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable 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 are recorded in owners’ equity as part of accumulated other comprehensive income.

 

    December 31,  
    2015     2014  
Balance sheet items, except for equity accounts     6.4917       6.1460  

 

    For the Years Ended December 31,  
    2015     2014  
Items in the statements of operations and comprehensive income, and statements of cash flows     6.2288       6.1457  

 

2.9 Revenue recognition

 

The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.

 

Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.

 

Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer’s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer’s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.

 

Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.

 

The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.

 

2.10 Real estate capitalization and cost allocation

 

Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of40years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units’ gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.

 

2.11 Capitalization of interest

 

In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.

 

2.12 Advertising expenses

 

Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.

 

2.13 Share-based compensation

 

The Company grants restricted shares to its non-employee consultants. Awards granted to non-employees are measured at fair value at the earlier of the commitment date or the date the services are completed, and are recognized using graded vesting method over the period the service is provided.

 

2.14 Income taxes

 

Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.

 

The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.

 

2.15 Land Appreciation Tax (“LAT”)

 

In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).

  

2.16 Earnings (loss) per share

 

Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.

 

2.17 Comprehensive loss

 

Comprehensive loss includes net income (loss) and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.

 

2.18 Contingencies

 

In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, “Loss Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.

 

2.19 Recently issued accounting pronouncements

 

The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.

XML 28 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Risks
12 Months Ended
Dec. 31, 2015
Risks and Concentration of Credit Risks [Abstract]  
RISKS

3. RISKS

 

(a) Liquidity risk

 

The Company is exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures.

 

(b) Foreign currency risk

 

A majority of the Company’s operating activities and a significant portion of the Company’s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers' invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.

 

(c) Concentration risk

 

For the year ended December 31, 2014, two customers accounted for all of sales. There were no sales for the year December 31, 2015.

 

    Years Ended December 31,  
    2015     2014  
             
Customer A     -       20 %
Customer B     -       80 %
      -       100 %

 

For the year ended December 31, 2014, products purchased from two suppliers accounted for all of product purchases. There were no sales for the year December 31, 2015.

 

    Years Ended December 31,  
    2015     2014  
             
Supplier A     -       19 %
Supplier B     -       81 %
      -       100 %
XML 29 R10.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Assets and Receivables
12 Months Ended
Dec. 31, 2015
Other Assets and Receivables [Abstract]  
OTHER ASSETS AND RECEIVABLES

4. OTHER ASSETS AND RECEIVABLES

 

Other assets and receivables as of December 31, 2015 and 2014 consisted of:

 

  December 31, 
  2015  2014 
       
Deposits $847  $3,611 
Working capital borrowed by contractors  -   12,431 
Individual income tax receivable  -   361 
Staff allowance  -   72,346 
Prepaid consulting and legal fees  1,941,163   - 
Underwriting commission deposit  1,606,000   - 
Excessive business tax and related urban construction and education surcharge  1,726,408   1,814,991 
Excessive land appreciation tax  985,447   1,033,805 
  $6,259,865  $2,937,545 

 

Business tax and LAT are payable each year at 5% and 1% - 2% respectively of customer deposits received. The Company recognizes sales related business tax and LAT in the income statement to the extent that they are proportionate to the revenue recognized each period. Any excessive amounts of business and LAT liabilities recognized at period-end pursuant to tax laws and regulations over the amounts recognized in the income statement are capitalized in prepayments and will be expensed in subsequent periods.

XML 30 R11.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Completed
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
REAL ESTATE PROPERTY COMPLETED

5. REAL ESTATE PROPERTY COMPLETED

 

The account balance and components of the real estate property completed were as follow:

 

  December 31, 
  2015  2014 
Properties completed      
Wuhan Centre China Grand Steel Market      
Costs of land use rights $7,716,994  $8,151,059 
Other development costs  23,849,162   24,874,260 
  $31,566,156  $33,025,319 
XML 31 R12.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Properties and Land Lots Under Development
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
REAL ESTATE PROPERTIES AND LAND LOTS UNDER DEVELOPMENT

6. REAL ESTATE PROPERTIES AND LAND LOTS UNDER DEVELOPMENT

 

The components of real estate properties and land lots under development were as follows:

 

  December 31, 
  2015  2014 
Properties under development      
Wuhan Centre China Grand Steel Market      
Costs of land use rights $9,306,948  $9,830,445 
Other development costs  38,982,735   40,385,963 
         
Land lots undeveloped  316,586,422   334,393,764 
  $364,876,105  $384,610,172 

 

As of December 31, 2015, the sole developing project is called Wuhan Centre China Grand Steel Market (Phase 1) Commercial Building in Wuhan Yangluo Economic Development Zone with approximately 222,496.6 square meters of total construction area. The Company has obtained certificates representing titles of the land use rights used for the development of the project.

 

Land use right with net book value of $181,287,079, including in real estate held for development and land lots undeveloped were pledged as collateral for the financial institution loan as at December 31, 2015. (See Note 10).

XML 32 R13.htm IDEA: XBRL DOCUMENT v3.3.1.900
Property and Equipment
12 Months Ended
Dec. 31, 2015
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

7. PROPERTY AND EQUIPMENT

 

The Company’s property and equipment used to conduct day-to-day business are recorded at cost less accumulated depreciation. Depreciation expenses are calculated using straight-line method over the estimated useful life with 5% of estimated salvage value below:

 

  Useful life December 31, 
  Years 2015  2014 
         
Fixture, furniture and office equipment 5 $63,474  $56,710 
Vehicles 5  528,424   605,642 
Less: accumulated depreciation    (434,399)  (424,877)
Property and equipment, net   $157,499  $237,475 

 

Depreciation expense totaled $76,419 and $80,133 for the years ended December 31, 2015 and 2014, respectively.

XML 33 R14.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Payables and Accrued Liabilities
12 Months Ended
Dec. 31, 2015
Other Payables and Accrued Liabilities [Abstract]  
OTHER PAYABLES AND ACCRUED LIABILITIES

8. OTHER PAYABLES AND ACCRUED LIABILITIES

 

Other payables and accrued liabilities as of December 31, 2015 and 2014 consisted of:

 

  December 31, 
  2015  2014 
       
Salaries payable $182,716  $75,301 
Business tax and related urban construction and education surcharge  12,947   121 
Deposits from contractors  167,907   177,351 
Interests payable in connection with convertible note  197,260   - 
Others  -   11,785 
 $560,830  $264,558
XML 34 R15.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Refund and Compensation Payable
12 Months Ended
Dec. 31, 2015
Real Estate Property Refund and Compensation Payable [Abstract]  
REAL ESTATE PROPERTY REFUND AND COMPENSATION PAYABLE

9. REAL ESTATE PROPERTY REFUND AND COMPENSATION PAYABLE

 

During the years 2012 and 2011, the Company signed 443 binding agreements of sales of commercial offices of the project with floor area of 22,790 square meters to unrelated purchasers (the transactions or the real estate sales transactions). The Company received deposits and considerations from the purchasers as required by the agreements. The construction commenced in the 2010, which was originally expected to be delivered to customers in late of 2012. No revenue was recognized from the sales of the commercial offices due to the reason stated below.

 

Owing to commercial reasons, the Company decided to terminate the agreements made for the sale of the real estate properties in relation to the project of Wuhan Centre China Grand Market. According to the agreements of sales, the Company is obliged to compensate the purchaser at a rate equal to 6% per annum or 0.05% per day on the deposits paid. In the years ended December 31, 2015 and 2014, the Company incurred $1,528,126 and $1,547,428 compensation expenses which were included in general and administrative expenses.

 

As at December 31, 2015, 375 out of 443 agreements were cancelled, and no completed office (or real estate certificate) has been delivered to the purchaser. The Company is still in the progress of negotiating with the purchasers for the cancellation of the remaining agreements. The directors of the Company are of the opinion that almost all of the purchasers shall accept the cancellation. If, finally the purchaser insisted on the execution of the agreement, the Company will accept.

 

Real estate property refund and compensation payable represent the amount of customer deposits received and the compensation calculated in accordance with the provisions in the sales agreements. The payable consists of the followings:

 

  December 31, 
  2015  2014 
       
Property sales deposits $20,152,652  $21,297,363 
Compensation  5,122,101   3,861,495 
  $25,274,753  $25,158,858 
XML 35 R16.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans Payable
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
LOANS PAYABLE

10. LOANS PAYABLE

 

    Weighted-average           December 31  
Bank name   interest rate     Term     2015     2014  
 China Construction Bank     6.33%    

From May 30, 2014 to 
May 29, 2020

      44,502,981       47,185,161  

 

Interest expenses incurred on loans payable for the years ended December 31, 2015 and 2014 was $3,001,771 and $3,256,660, respectively.

 

Land use right with net book value of $181,287,079, including in real estate held for development and land lots under development were pledged as collateral for the loan as at December 31, 2015.

 

The aggregate maturities of loans payable of each of years subsequent to December 31, 2015 are as follows:

 

2016   $ 154,043  
2017     10,783,000  
2018     10,783,000  
2019     12,323,428  
2020     10,459,510  
    $ 44,502,981  
XML 36 R17.htm IDEA: XBRL DOCUMENT v3.3.1.900
Gain on Disposal of Subsidiaries
12 Months Ended
Dec. 31, 2015
Gain on Disposal of Subsidiaries [Abstract]  
GAIN ON DISPOSAL OF SUBSIDIARIES

11. GAIN ON DISPOSAL OF SUBSIDIARIES

 

On December 31, 2015, the Company sold all of its interests in i) Brookhollow Lake, LLC, ii) Newport Property Holding, LLC, iii) wholly-owned subsidiary Kirin China, iv) wholly-owned subsidiary Kirin Hopkins Real Estate Group, v) wholly-owned subsidiary Archway Development Group LLC, vi) wholly-owned subsidiary Specturm International Enterprise, LLC and vii) wholly-owned subsidiary HHC-6055 Centre Drive LLC (collectively referred to as the “Kirin Subsidiaries”). The sale of Kirin China also effectively terminated Company’s contractual relationship with Hebei Zhongding Real Estate Development Co. Ltd and Xingtai Zhongding Jiye Real Estate Development Co., Ltd, both of which are companies formed under the laws of the People’s Republic of China and were deemed Company’s variable interest entities prior to the Sale.

 

The Company sold its interests in Kirin Subsidiaries for an aggregate of $75,000,002 for the Sale. The carrying amount of the net assets of Kirin Subsidiaries was $63,312,904 as of disposal date and the Company recognized a gain of $11,687,098 on the disposal accordingly.

XML 37 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
Convertible Note
12 Months Ended
Dec. 31, 2015
Convertible Note [Abstract]  
CONVERTIBLE NOTE

12. CONVERTIBLE NOTE

 

On December 19, 2015, the Company issued an 8% convertible note in the principal amount of $150,000,000 to Jasper, a related party, in the Share Exchange (see note 1). The holder of the Note may convert all or any portion of the then aggregate outstanding principal amount, together with any accrued and unpaid interest, into shares of Company’s common stock at $10.00 per share.

 

On December 31, 2015, pursuant to the terms and conditions of the Agreements, Jasper, financed the Purchaser for the Sale by reducing Company’s financial obligations under the Note by an aggregate of $75,000,000 (see note 1). As a result of the Sale, the outstanding balance due to Jasper under the Note was $75,000,000 plus any accrued interest.

 

There was no beneficial conversion feature attributable to the Note as the set conversion price of the Note was greater than the fair value of the common share price at the date of issuance. The Company has accounted for the Note in accordance with ASC 470-20, as a single instrument as a non-current liability. The Note is initially carried at the gross cash received at the issuance date.

 

The interest expense for the convertible note included in the consolidated statements of operations is $197,260 and nil for the years ended December 31, 2015 and 2014. Note issuance costs are immaterial.

XML 38 R19.htm IDEA: XBRL DOCUMENT v3.3.1.900
Employee Retirement Benefit
12 Months Ended
Dec. 31, 2015
Employee Retirement Benefit [Abstract]  
EMPLOYEE RETIREMENT BENEFIT

13. EMPLOYEE RETIREMENT BENEFIT

 

The Company has made employee benefit contribution in accordance with Chinese relevant regulations, including retirement insurance, unemployment insurance, medical insurance, work injury insurance and birth insurance. The Company recorded the contribution in the salary and employee charges when incurred. The contributions made by the Company were $64,005 and $17,507 for the years ended December 31, 2015 and 2014, respectively.

XML 39 R20.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes
12 Months Ended
Dec. 31, 2015
Income Taxes [Abstract]  
INCOME TAXES

14. INCOME TAXES

 

The Company was incorporated in the state of Nevada. Under the current law of Nevada, the Company is not subject to state corporate income tax. No provision for federal corporate income tax has been made in the financial statements as there are no assessable profits.

 

Energetic Mind was incorporated in the British Virgin Islands (“BVI”). Under the current law of the BVI, Energetic Mind is not subject to tax on income.

 

Ricofeliz Capital was incorporated in Hong Kong. No provision for Hong Kong profits tax has been made in the financial statements as there are no assessable profits.

 

Wuhan Newport was incorporated in the PRC, was governed by the income tax law of the PRC and is subject to PRC enterprise income tax (“EIT”). The EIT rate of PRC is 25%.

 

Income tax expenses for the years ended December 31, 2015 and 2014 are summarized as follows:

 

  Years Ended December 31, 
  2015  2014 
       
Current $-  $- 
Deferred tax benefit  1,378,700   1,402,421 
  $1,378,700  $1,402,421 

 

A reconciliation of the income tax benefit (expenses) determined at the PRC EIT income tax rate to the Company’s effective income tax benefit is as follows:

 

  Years Ended December 31, 
  2015  2014 
       
EIT at the PRC statutory rate of 25% $(981,634) $1,414,879 
Permanent items  2,921,774   (12,458)
Valuation allowance  (561,440)  - 
  $1,378,700  $1,402,421 

 

The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. For the years ended December 31, 2015 and 2014, the Company had no unrecognized tax benefits.

 

The Company does not anticipate any significant increase to its liability for unrecognized tax benefit within the next 12 months. The Company will classify interest and penalties related to income tax matters, if any, in income tax expense.

 

Deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. The tax effects of temporary differences that give rise to the following approximate deferred tax assets and liabilities as of December 31, 2015 and 2014 are presented below.

 

  December 31, 
  2015  2014 
Deferred tax assets      
Operating loss carry forward $303,237  $229,288 
Excess of interest expenses  1,398,582   648,140 
Accrued expenses  1,912,600   1,543,021 
  $3,614,419  $2,420,449 

 

The Company had net operating losses carry forward of $1,212,948 as of December 31, 2015 which will expire on various dates between December 31, 2018 and 2019.

XML 40 R21.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings (Loss) Per Share
12 Months Ended
Dec. 31, 2015
Earnings (Loss) Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

15. EARNINGS (LOSS) PER SHARE

 

    Years Ended December 31,  
    2015     2014  
Numerator:            
Net income (loss) for basic and diluted earnings (loss) per share   $ 5,305,236     $ (4,257,096 )
                 
Denominator:                
Weighted average number of common shares outstanding-basic and diluted     151,682,554       151,000,000  
                 
Basic and diluted earnings (loss) per share   $ 0.03     $ (0.03 )

 

246,900 common shares resulting from the assumed conversions of 8% Convertible Note (note 12) were excluded from the calculation of diluted earnings (loss) per share for the years ended December 31, 2015 as their effect is anti-dilutive.

XML 41 R22.htm IDEA: XBRL DOCUMENT v3.3.1.900
Related Party Transactions
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

16. RELATED PARTY TRANSACTIONS

 

16.1 Nature of relationships with related parties

 

Name Relationships with the Company
Wuhan Renhe Group Co., Ltd (“Wuhan Renhe”) Former shareholder (Mr Wang Geng) of Wuhan Newport
Wuhan Renhe Real Estate Co., Ltd. (“Renhe RE”) Mr Wang Geng, the director of the Company, holds 100% of Renhe RE
Mr Zhao Weibin Officer
Mr Liu Xiangyao Director

 

16.2 Related party balances and transactions

 

Amount due to Wuhan Renhe were $28,822,089 and $322,388,060 as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

On June 30, 2015, Wuhan Renhe forgave a total amount of $285,413,074 with the Company. The Company has credited the amount of $285,413,074 to additional paid-in capital in equity.

 

A summary of changes in the amount due to Wuhan Renhe is as follows:

 

  December 31, 
  2015  2014 
       
At beginning of year $322,388,060  $366,755,923 
Advances from the related party  28,463,394   4,834,513 
Repayment to the related party  -   (47,187,464)
Forgiveness of loan  (285,413,074)  - 
Exchange difference adjustment  (36,616,291)  (2,014,912)
At end of year $28,822,089  $322,388,060 

 

Amount due to Renhe RE were $667,776 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Renhe RE is as follows:

 

  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the related party  667,776   - 
At end of year $667,776  $- 

 

Amount due to Mr Zhao Weibin were $ 126,516 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Mr Zhao Weibin is as follows:

 

  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the officer  126,516   - 
At end of year $126,516  $- 

 

Amount due to Mr Liu Xiangyao were $2,428,731 and nil as at December 31, 2015 and 2014, respectively. The amount is unsecured, interest free and does not have a fixed repayment date.

 

A summary of changes in the amount due to Mr Liu Xiangyao is as follows:

 

  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the director  2,428,731   - 
At end of year $2,428,731  $- 
XML 42 R23.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share-Based Compensation Expenses
12 Months Ended
Dec. 31, 2015
Share-Based Compensation Expenses [Abstract]  
SHARE-BASED COMPENSATION EXPENSES

17. SHARE-BASED COMPENSATION EXPENSES

 

On December 27, 2015, the Company granted 317,345 and 340,555 shares of the Company’s restricted common stock to a number of consultants, in exchange for its legal and professional services to the Company for the years ended December 31, 2015 and 2016, respectively. These shares were valued at $5.7 per share, the closing bid price of the Company’s common stock on the date of grant. Total compensation expense recognized in the general and administrative expenses of the consolidated statement of operations for the year ended December 31, 2015 was $1,808,867. Total compensation expense of approximately $1,941,163 will be recognized in 2016. The shares attributable to fiscal 2015 and 2016 were issued on December 30, 2015.

XML 43 R24.htm IDEA: XBRL DOCUMENT v3.3.1.900
Concentration of Credit Risks
12 Months Ended
Dec. 31, 2015
Risks and Concentration of Credit Risks [Abstract]  
CONCENTRATION OF CREDIT RISKS

18. CONCENTRATION OF CREDIT RISKS

 

As of December 31, 2015 and 2014, substantially all of the Company’s cash and cash equivalents were held by major financial institutions located in China and the US, which management believes are of high credit quality.

 

The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. The business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

 

No customer accounted for more than 10% of total accounts receivable as of December 31, 2015 and 2014.

XML 44 R25.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies
12 Months Ended
Dec. 31, 2015
Commitments and Contingencies [Abstract]  
COMMITMENTS AND CONTINGENCIES

19. COMMITMENTS AND CONTINGENCIES

 

Operating lease commitments

 

For the years ended December 31, 2015 and 2014, rental expenses under operating leases were $6,000 and nil, respectively.

 

The future obligations for operating leases as of December 31, 2015 are as follows:

 

2016 $72,000 
2017  18,000 
Total minimum payment required $90,000 

 

Legal proceeding

 

The Company is not currently a party to any legal proceeding, investigation or claim which, in the opinion of the management, is likely to have a material adverse effect on the business, financial condition or results of operations.

 

The Company did not identify any contingency as of December 31, 2015.

XML 45 R26.htm IDEA: XBRL DOCUMENT v3.3.1.900
Subsequent Event
12 Months Ended
Dec. 31, 2015
Subsequent Event [Abstract]  
SUBSEQUENT EVENT

20. SUBSEQUENT EVENT

 

The management evaluated all events subsequent to the balance sheet date through the date the consolidated financial statements were available to be issued. Except for the followings, there are no significant matters to make material adjustments or disclosure in the consolidated financial statements.

 

On January 13, 2016, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of the State of Nevada, changing its name from “Kirin International Holding, Inc.” to “Yangtze River Development Limited”.

 

Effective January 22, 2016, upon approval by FINRA, Yangtze River Development Limited, or formerly Kirin International Holding, Inc., changed its stock symbol from “KIRI” to “YERR”.

 

On January 25, the board of directors (the “Board”) of the Company formed and adopted charters for six standing committees: Audit Committee, Compensation Committee, Nomination Committee, Governance and Human Resources Committee, Board Oversight Committee, Social Media Committee (collectively the “Committees”). Each Committee consists of only independent directors of the Company. The Board also adopted charter for the Regulatory, Compliance and Government Affairs Committee, for which the charter will be implemented once the committee is formed. The Company believes that the adoption of these charters and formation of these Committees are necessary for the implementation of effective internal control and oversight and a significant step towards remediating any material weakness the Company currently has. Members of the Committees are as set forth below

 

Audit Committee: Harvey Leibowitz (Chair), Zhihong Su, Daniel W. Heffernan, Romano Tio, Tongmin Wang
Compensation Committee: Harvey Leibowitz (Chair), Zhihong Su, Zhixue Liu, Romano Tio, Daniel W. Heffernan
Nomination Committee: Daniel W. Heffernan (Chair), Harvey Leibowitz, Zhixue Liu, Romano Tio, Zhihong Su
Governance and Human Resources Committee: Zhihong Su (Chair), Harvey Leibowitz, Romano Tio, Daniel W. Heffernan, Tongmin Wang
Board Oversight Committee: Daniel W. Heffernan (Chair), Zhixue Liu, Harvey Leibowitz, Romano Tio, Zhihong Su
Social Media Committee: Romano Tio (Chair), Harvey Leibowitz, Zhihong Su, Daniel W. Heffernan, Tongmin Wang

 

The Company believes that all members of each of the audit and compensation committees are independent and that Mr. Harvey Leibowitz qualifies as an “audit committee financial expert,” as that term is defined in applicable regulations of the SEC.

 

The Audit Committee is responsible for making such examinations as are necessary to monitor the corporate financial reporting and external audits of the Company and its subsidiaries; to provide to the Board the results of its examinations and recommendations derived there from; to outline to the Board improvements made, or to be made, in internal accounting controls; to nominate independent auditor; and to provide to the Board such additional information and materials as it may deem necessary to make the Board aware of significant financial matters requiring Board attention.

 

The Company believes that the adoption of these charters and formation of these Committees, specifically that of the Audit Committee, are necessary for the implementation of effective internal control.

XML 46 R27.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]  
Basis of Presentation

2.1 Basis of presentation

 

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

 

The consolidated financial statements include the financial statements of all the subsidiaries. All transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

 

The consolidated balance sheets are presented unclassified because the time required to complete real estate projects and the Company’s working capital considerations usually stretch for more than one-year period.

Use of Estimates

2.2 Use of estimates

 

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the consolidated financial statements include: (i) the allowance for doubtful debts; (ii) accrual of estimated liabilities; and (iii) contingencies; (iv) deferred tax assets; (v) impairment of long-lived assets; (vi) useful lives of property plant and equipment; and (vii) real estate property refunds and compensation payables.

Cash and Cash Equivalents

2.3 Cash and cash equivalents

 

Cash and cash equivalents consist of cash and bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal and use the Company maintains accounts at banks and has not experienced any losses from such concentrations.

Property and equipment

2.4 Property and equipment

 

The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on a straight-line method over the estimated useful lives of the assets with 5% salvage value. Estimated useful lives of property and equipment are stated in Note 7.

 

The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred; major additions and betterment to equipment are capitalized.

Impairment of long-lived assets

2.5 Impairment of long-lived assets

 

The Company applies the provisions of ASC No. 360 Sub topic 10, "Impairment or Disposal of Long-Lived Assets"(ASC 360- 10) issued by the Financial Accounting Standards Board ("FASB"). ASC 360-10 requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value.

 

The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment at least annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses in the years ended December 31, 2015 and 2014.

Fair values of financial instruments

2.6 Fair values of financial instruments

 

ASC Topic 825, Financial Instruments (“Topic 825”) requires disclosure of fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Topic 825 excludes certain financial instruments and all nonfinancial assets and liabilities from its disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company.

 

Level 1    inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2    inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

Level 3    inputs to the valuation methodology are unobservable and significant to the fair value.

 

As of December 31, 2015 and 2014, financial instruments of the Company primarily comprise of cash, accrued interest receivables, other receivables, short-term bank loans, deposits payables and accrued expenses, which were carried at cost on the balance sheets, and carrying amounts approximated their fair values because of their generally short maturities.

Convertible notes

2.7 Convertible notes

 

In accordance with ASC subtopic 470-20, the convertible notes are initially carried at the principal amount of the convertible notes. Debt premium or discounts, which are the differences between the carrying value and the principal amount of convertible notes at the issuance date, together with related debts issuance cost, are subsequently amortized using effective interest method as adjustments to interest expense from the debt issuance date to its first redemption date. Convertible notes are classified as a current liability if they are or will be callable by the Company or puttable by the debt holders within one year from the balance sheet date, even though liquidation may not be expected within that period.

Foreign currency translation and transactions

2.8 Foreign currency translation and transactions

 

The Company’s consolidated financial statements are presented in the U.S. dollar (US$), which is the Company’s reporting currency. Yangtze River, Energetic Mind, and Ricofeliz Capital uses US$ as its functional currency. Wuhan Newport uses Renminbi Yuan(“RMB”) as its functional currency. Transactions in foreign currencies are initially recorded at the functional currency rate ruling 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 statements of operations.

 

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US$ using the rate of exchange prevailing at the applicable 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 are recorded in owners’ equity as part of accumulated other comprehensive income.

 

    December 31,  
    2015     2014  
Balance sheet items, except for equity accounts     6.4917       6.1460  

 

    For the Years Ended December 31,  
    2015     2014  
Items in the statements of operations and comprehensive income, and statements of cash flows     6.2288       6.1457  

Revenue recognition

2.9 Revenue recognition

 

The Company recognizes revenue from steel trading when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed or determinable and collection is reasonably assured.

 

Real estate sales are reported in accordance with the provisions of ASC 360-20, Property, Plant and Equipment, Real Estate Sales.

 

Revenue from the sales of completed properties and properties where the construction period is twelve months or less is recognized by the full accrual method when (a) sale is consummated; (b) the buyer’s initial and continuing involvements are adequate to demonstrate a commitment to pay for the property; (c) the receivable is not subject to future subordination; (d) the Company has transferred to the buyer the usual risks and rewards of ownership in a transaction that is in substance a sale and does not have a substantial continuing involvement with the property. A sale is not considered consummated until (a) the parties are bound by the terms of a contract or agreement, (b) all consideration has been exchanged, (c) any permanent financing for which the seller is responsible has been arranged, (d) all conditions precedent to closing have been performed. Fair value of buyer’s payments to be received in future periods pursuant to sales contract is classified under accounts receivable. Sales transactions not meeting all the conditions of the full accrual method are accounted for using the deposit method of accounting. Under the deposit method, all costs are capitalized as incurred, and payments received from the buyer are recorded as a deposit liability.

 

Revenue and profit from the sale of development properties where the construction period is more than twelve months is recognized by the percentage-of-completion method on the sale of individual units when the following conditions are met: (a)construction is beyond a preliminary stage; (b) the buyer is committed to the extent of being unable to require a refund except for non-delivery of the unit; (c) sufficient units have already been sold to assure that the entire property will not revert to rental property; (d) sales prices are collectible and (e) aggregate sales proceeds and costs can be reasonably estimated. If any of these criteria are not met, proceeds are accounted for as deposits until the criteria are met and/or the sale consummated.

 

The Company has not generated any revenue from the sales of real estate property for the years ended December 31, 2015 and 2014.

Real estate capitalization and cost allocation

2.10 Real estate capitalization and cost allocation

 

Real estate property completed and real estate properties and land lots under development consist of commercial units under construction and units completed. Properties under development or completed are stated at cost or estimated net realizable value, whichever is lower. Costs include costs of land use rights, direct development costs, interest on indebtedness, construction overhead and indirect project costs. The Company acquires land use rights with lease terms of40years through government sale transaction. Land use rights are divided and transferred to customers after the Company delivers properties. The Company capitalizes payments for obtaining the land use rights, and allocates to specific units within a project based on units’ gross floor area. Costs of land use rights for the purpose of property development are not amortized. Other costs are allocated to units within a project based on the ratio of the sales value of units to the estimated total sales value.

Capitalization of interest

2.11 Capitalization of interest

 

In accordance with ASC 360, Property, Plant and Equipment, interest incurred during construction is capitalized to properties under development. For the years ended December 31, 2015 and 2014, nil and nil were capitalized as properties under development, respectively.

Advertising expenses

2.12 Advertising expenses

 

Advertising costs are expensed as incurred, or the first time the advertising takes place, in accordance with ASC 720-35, Advertising Costs. For the years ended December 31, 2015 and 2014, the Company recorded advertising expenses of $7,724 and $47,187, respectively.

Share-based compensation

2.13 Share-based compensation

 

The Company grants restricted shares to its non-employee consultants. Awards granted to non-employees are measured at fair value at the earlier of the commitment date or the date the services are completed, and are recognized using graded vesting method over the period the service is provided.

Income taxes

2.14 Income taxes

 

Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. As part of the process of preparing consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. The Company accounts for income taxes using the liability method. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements at each year-end and tax loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates applicable for the differences that are expected to affect taxable income.

 

The Company adopts a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation process, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. As of December 31, 2015 and 2014, the Company did not have any uncertain tax position.

Land Appreciation Tax (''LAT'')

2.15 Land Appreciation Tax (“LAT”)

 

In accordance with the relevant taxation laws in the PRC, the Company is subject to LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, which is calculated as the proceeds of sales of properties less deductible expenditures, including borrowing costs and all property development expenditures. LAT is prepaid at 1% to 2% of the pre-sales proceeds each year as required by the local tax authorities, and is settled generally after the construction of the real estate project is completed and majority of the units are sold. The Company provides LAT as expensed when the related revenue is recognized based on estimate of the full amount of applicable LAT for the real estate projects in accordance with the requirements set forth in the relevant PRC laws and regulations. LAT would be included in income tax expense in the statements of operations and comprehensive income (loss).

Earnings (loss) per share

2.16 Earnings (loss) per share

 

Basic earnings (loss) per share is computed using the weighted average number of common shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of common shares and potential common shares outstanding during the period for convertible notes under if-convertible method, if dilutive. Potential common shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.

Comprehensive loss

2.17 Comprehensive loss

 

Comprehensive loss includes net income (loss) and foreign currency adjustments. Comprehensive loss is reported in the consolidated statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.

Contingencies

2.18 Contingencies

 

In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. In accordance with ASC No. 450 Sub topic 20, “Loss Contingencies”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.

Recently issued accounting pronouncements

2.19 Recently issued accounting pronouncements

 

The Company does not believe other recently issued but not yet effective accounting standards from ASU 2016-01, if currently adopted, would have a material effect of the consolidated financial position, results of operation and cash flows.

XML 47 R28.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]  
Schedule of accumulated other comprehensive income
    December 31,  
    2015     2014  
Balance sheet items, except for equity accounts     6.4917       6.1460  

 

    For the Years Ended December 31,  
    2015     2014  
Items in the statements of operations and comprehensive income, and statements of cash flows     6.2288       6.1457
XML 48 R29.htm IDEA: XBRL DOCUMENT v3.3.1.900
Risks (Tables)
12 Months Ended
Dec. 31, 2015
Risks and Concentration of Credit Risks [Abstract]  
Schedules of concentration risk
    Years Ended December 31,  
    2015     2014  
             
Customer A     -       20 %
Customer B     -       80 %
      -       100 %

 

    Years Ended December 31,  
    2015     2014  
             
Supplier A     -       19 %
Supplier B     -       81 %
      -       100 %
XML 49 R30.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Assets and Receivables (Tables)
12 Months Ended
Dec. 31, 2015
Other Assets and Receivables [Abstract]  
Schedule of other assets and receivables
    December 31,  
    2015     2014  
             
Deposits   $ 847     $ 3,611  
Working capital borrowed by contractors     -       12,431  
Individual income tax receivable     -       361  
Staff allowance     -       72,346  
Prepaid consulting and legal fees     1,941,163       -  
Underwriting commission deposit     1,606,000       -  
Excessive business tax and related urban construction and education surcharge     1,726,408       1,814,991  
Excessive land appreciation tax     985,447       1,033,805  
    $ 6,259,865     $ 2,937,545  
XML 50 R31.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Completed (Tables)
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
Components of the real estate property completed

    December 31,  
    2015     2014  
Properties completed            
Wuhan Centre China Grand Steel Market            
Costs of land use rights   $ 7,716,994     $ 8,151,059  
Other development costs     23,849,162       24,874,260  
    $ 31,566,156     $ 33,025,319
XML 51 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Properties and Land Lots Under Development (Tables)
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
Components of real estate properties and land lots under development
  December 31, 
  2015  2014 
Properties under development      
Wuhan Centre China Grand Steel Market      
Costs of land use rights $9,306,948  $9,830,445 
Other development costs  38,982,735   40,385,963 
         
Land lots undeveloped  316,586,422   334,393,764 
  $364,876,105  $384,610,172 
XML 52 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900
Property and Equipment (Tables)
12 Months Ended
Dec. 31, 2015
Property and Equipment [Abstract]  
Schedule of property and equipment
  Useful life December 31, 
  Years 2015  2014 
         
Fixture, furniture and office equipment 5 $63,474  $56,710 
Vehicles 5  528,424   605,642 
Less: accumulated depreciation    (434,399)  (424,877)
Property and equipment, net   $157,499  $237,475 
XML 53 R34.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Payables and Accrued Liabilities (Tables)
12 Months Ended
Dec. 31, 2015
Other Payables and Accrued Liabilities [Abstract]  
Components of other payables and accrued liabilities
    December 31,  
    2015     2014  
             
Salaries payable   $ 182,716     $ 75,301  
Business tax and related urban construction and education surcharge     12,947       121  
Deposits from contractors     167,907       177,351  
Interests payable in connection with convertible note     197,260       -  
Others     -       11,785  
    $ 560,830     $ 264,558
XML 54 R35.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Refund and Compensation Payable (Tables)
12 Months Ended
Dec. 31, 2015
Real Estate Property Refund and Compensation Payable [Abstract]  
Schedule of real estate property refund and compensation payable

  December 31, 
  2015  2014 
       
Property sales deposits $20,152,652  $21,297,363 
Compensation  5,122,101   3,861,495 
  $25,274,753  $25,158,858 
XML 55 R36.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans Payable (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of loans payable

  Weighted-average     December 31 
Bank name interest rate  Term  2015  2014 
 China Construction Bank  6.33%  

From May 30, 2014 to 
May 29, 2020

   44,502,981   47,185,161
Aggregate maturities of loans payable

 

2016 $154,043 
2017  10,783,000 
2018  10,783,000 
2019  12,323,428 
2020  10,459,510 
  $44,502,981
XML 56 R37.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes [Abstract]  
Summary of income tax expenses (benefits)

 

  Years Ended December 31, 
  2015  2014 
       
Current $-  $- 
Deferred tax benefit  1,378,700   1,402,421 
  $1,378,700  $1,402,421 
Reconciliation between statutory rate and effective tax rate

 

 Years Ended December 31, 
  2015  2014 
       
EIT at the PRC statutory rate of 25% $(981,634) $1,414,879 
Permanent items  2,921,774   (12,458)
Valuation allowance  (561,440)  - 
  $1,378,700  $1,402,421
Summary of deferred tax assets and liabilities

 

  December 31, 
  2015  2014 
Deferred tax assets      
Operating loss carry forward $303,237  $229,288 
Excess of interest expenses  1,398,582   648,140 
Accrued expenses  1,912,600   1,543,021 
  $3,614,419  $2,420,449 
XML 57 R38.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings (Loss) Per Share (Tables)
12 Months Ended
Dec. 31, 2015
Earnings (Loss) Per Share [Abstract]  
Summary of earnings per share
  Years Ended December 31, 
  2015  2014 
Numerator:      
Net income (loss) for basic and diluted earnings (loss) per share $5,305,236  $(4,257,096)
         
Denominator:        
Weighted average number of common shares outstanding-basic and diluted  151,682,554   151,000,000 
         
Basic and diluted earnings (loss) per share $0.03  $(0.03)
XML 58 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900
Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2015
Wuhan Renhe [Member]  
Related Party Transaction [Line Items]  
Summary of changes in the amount due to realted parties
  December 31, 
  2015  2014 
       
At beginning of year $322,388,060  $366,755,923 
Advances from the related party  28,463,394   4,834,513 
Repayment to the related party  -   (47,187,464)
Forgiveness of loan  (285,413,074)  - 
Exchange difference adjustment  (36,616,291)  (2,014,912)
At end of year $28,822,089  $322,388,060
Renhe RE [Member]  
Related Party Transaction [Line Items]  
Summary of changes in the amount due to realted parties
  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the related party  667,776   - 
At end of year $667,776  $- 
Mr Zhao Weibin [Member]  
Related Party Transaction [Line Items]  
Summary of changes in the amount due to realted parties
  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the officer  126,516   - 
At end of year $126,516  $- 
Mr Liu Xiangyao [Member]  
Related Party Transaction [Line Items]  
Summary of changes in the amount due to realted parties
  December 31, 
  2015  2014 
       
At beginning of year $-  $- 
Advances from the director  2,428,731   - 
At end of year $2,428,731  $- 
XML 59 R40.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2015
Commitments and Contingencies [Abstract]  
Schedule of future obligations for operating leases

2016 $72,000 
2017  18,000 
Total minimum payment required $90,000 
XML 60 R41.htm IDEA: XBRL DOCUMENT v3.3.1.900
Organization and Principal Activities (Details) - USD ($)
1 Months Ended 12 Months Ended
Jul. 13, 2015
Dec. 19, 2015
Dec. 31, 2015
Dec. 31, 2014
Organization And Principal Activities (Textual)        
Convertible note interest rate     8.00%  
Aggregate value for financial obligations     $ 150,000,000
Energetic Mind Limited [Member]        
Organization And Principal Activities (Textual)        
Ownership percentage   100.00%    
Exchange of issued and outstanding capital stock   151,000,000    
Percentage of issued and outstanding shares on fully diluted basis   88.00%    
Convertible note interest rate   8.00%    
Principal amount   $ 150,000,000    
Ownership percentage, description Energetic Mind was incorporated by Mr. Liu Xiangyao on January 2, 2015, and was subsequently purchased by various companies incorporated in BVI or the United States of America ("USA"), among whom Jasper became its 64% owner. Jasper was 100% owned by Mr. Liu Xiangyao, a Hong Kong citizen. Energetic Mind owns 100% of Ricofeliz Capital and operates its business through its subsidiary Wuhan Newport.    
Kirin Global Enterprises Inc [Member]        
Organization And Principal Activities (Textual)        
Proceeds from sale of interest in subsidiaries     75,000,002  
Jasper Lake Holdings Limited [Member]        
Organization And Principal Activities (Textual)        
Convertible note interest rate   8.00%    
Principal amount   $ 150,000,000    
Aggregate value for financial obligations     $ 75,000,000  
XML 61 R42.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies (Details) - shares
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]    
Balance sheet items, except for equity accounts 6.4917 6.1460
Items in the statements of operations and comprehensive income, and statements of cash flows 6.2288 6.1457
XML 62 R43.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies (Details Textual) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Accounting Policies (Textual)    
Property and equipment salvage value percentage 5.00%  
Acquires land use rights, Description The Company acquires land use rights with lease terms of40years through government sale transaction.  
Capitalized as properties under development
Advertising expenses $ 7,724 $ 47,187
Tax benefit percentage 50.00%  
Maximum [Member]    
Accounting Policies (Textual)    
Land appreciation tax percentage 60.00%  
Prepaid land appreciation tax percentage 2.00%  
Minimum [Member]    
Accounting Policies (Textual)    
Land appreciation tax percentage 30.00%  
Prepaid land appreciation tax percentage 1.00%  
XML 63 R44.htm IDEA: XBRL DOCUMENT v3.3.1.900
Risks (Details)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Sales [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 100.00%
Sales [Member] | Customer A [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 20.00%
Sales [Member] | Customer B [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 80.00%
Purchases [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 100.00%
Purchases [Member] | Supplier A [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 19.00%
Purchases [Member] | Supplier B [Member]    
Concentration Risk [Line Items]    
Concentration risk, Percentage 81.00%
XML 64 R45.htm IDEA: XBRL DOCUMENT v3.3.1.900
Risks (Details Textual)
12 Months Ended
Dec. 31, 2014
Customer
Supplier
Risks (Textual)  
Number of customers | Customer 2
Number of suppliers | Supplier 2
XML 65 R46.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Assets and Receivables (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Schedue of Other Assets and Receivables    
Deposits $ 847 $ 3,611
Working capital borrowed by contractors 12,431
Individual income tax receivable 361
Staff allowance $ 72,346
Prepaid consulting and legal fees $ 1,941,163
Underwriting commission deposit 1,606,000
Excessive business tax and related urban construction and education surcharge 1,726,408 $ 1,814,991
Excessive land appreciation tax 985,447 1,033,805
Other assets and receivables $ 6,259,865 $ 2,937,545
XML 66 R47.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Assets and Receivables (Details Textual)
12 Months Ended
Dec. 31, 2015
Other Assets and Receivables (Textual)  
Business tax and LAT, Description Business tax and LAT are payable each year at 5% and 1% - 2% respectively of customer deposits received.
XML 67 R48.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Completed (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Components of the real estate property completed    
Real estate property completed $ 31,566,156 $ 33,025,319
Wuhan Centre China Grand Steel Market [Member]    
Components of the real estate property completed    
Costs of land use rights 7,716,994 8,151,059
Other development costs 23,849,162 24,874,260
Real estate property completed $ 31,566,156 $ 33,025,319
XML 68 R49.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Properties and Land Lots Under Development (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Components of real estate properties and land lots under development    
Real estate properties and land lots under development $ 364,876,105 $ 384,610,172
Wuhan Centre China Grand Steel Market [Member]    
Components of real estate properties and land lots under development    
Costs of land use rights 9,306,948 9,830,445
Other development costs 38,982,735 40,385,963
Land lots undeveloped 316,586,422 334,393,764
Real estate properties and land lots under development $ 364,876,105 $ 384,610,172
XML 69 R50.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Properties and Land Lots Under Development (Details Textual)
Dec. 31, 2015
USD ($)
Dec. 31, 2012
Dec. 31, 2011
Real Estate Properties and Land Lots Under Development (Textual)      
Total construction area   22,790 22,790
Wuhan Centre China Grand Steel Market [Member]      
Real Estate Properties and Land Lots Under Development (Textual)      
Total construction area 222,496.6    
Land use right with net book value | $ $ 181,287,079    
XML 70 R51.htm IDEA: XBRL DOCUMENT v3.3.1.900
Property and Equipment (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Property, Plant and Equipment [Line Items]    
Less: accumulated depreciation $ (434,399) $ (424,877)
Property and equipment, net $ 157,499 237,475
Property and equipment salvage value percentage 5.00%  
Fixture, furniture and office equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 5 years  
Property and equipment, gross $ 63,474 56,710
Vehicles [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 5 years  
Property and equipment, gross $ 528,424 $ 605,642
XML 71 R52.htm IDEA: XBRL DOCUMENT v3.3.1.900
Property and Equipment (Details Textual) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Property and Equipment [Abstract]    
Depreciation expense $ 79,064 $ 80,133
XML 72 R53.htm IDEA: XBRL DOCUMENT v3.3.1.900
Other Payables and Accrued Liabilities (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Summary of component of other payables and accrued liabilities    
Salaries payable $ 182,716 $ 75,301
Business tax and related urban construction and education surcharge 12,947 121
Deposits from contractors 167,907 $ 177,351
Interests payable in connection with convertible note $ 197,260
Others $ 11,785
Total Other payable and accrued liabilities $ 560,830 $ 264,558
XML 73 R54.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Refund and Compensation Payable (Details) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Real Estate Property Refund and Compensation Payable [Abstract]    
Property sales deposits $ 20,152,652 $ 21,297,363
Compensation 5,122,101 3,861,495
Real estate property refund and compensation payable $ 25,274,753 $ 25,158,858
XML 74 R55.htm IDEA: XBRL DOCUMENT v3.3.1.900
Real Estate Property Refund and Compensation Payable (Details Textual)
12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2012
Customer
Dec. 31, 2011
Customer
Real Estate Property Refund and Compensation Payable (Textual)        
Sales of commercial offices area | m²     22,790 22,790
Agreements of sales, description According to the agreements of sales, the Company is obliged to compensate the purchaser at a rate equal to 6% per annum or 0.05% per day on the deposits paid.      
Compensation expenses | $ $ 1,528,126 $ 1,547,428    
Number of binding agreements | Customer     443 443
Number of agreement, description As at December 31, 2015, 375 out of 443 agreements were cancelled, and no completed office (or real estate certificate) has been delivered to the purchaser.      
XML 75 R56.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans Payable (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Loans Payable [Line Items]    
Loans payable $ 44,502,981 $ 47,185,161
China Construction Bank [Member]    
Loans Payable [Line Items]    
Term From May 30, 2014 to May 29, 2020  
Weighted-average interest rate 6.33%  
XML 76 R57.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans Payable (Details 1) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Aggregate maturities of loans payable    
2016 $ 154,043  
2017 10,783,000  
2018 10,783,000  
2019 12,323,428  
2020 10,459,510  
Long-term loans $ 44,502,981 $ 47,185,161
XML 77 R58.htm IDEA: XBRL DOCUMENT v3.3.1.900
Loans Payable (Details Textual) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Loans Payable (Textual)    
Interest expenses incurred on loans payable $ 3,001,771 $ 3,256,660
Real estate held for development and land use right $ 181,287,079  
XML 78 R59.htm IDEA: XBRL DOCUMENT v3.3.1.900
Gain on Disposal of Subsidiaries (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Gain on Disposal of Subsidiaries (Textual)    
Gain on disposal of subsidiaries $ 11,687,098
Kirin Subsidiaries [Member]    
Gain on Disposal of Subsidiaries (Textual)    
Proceeds from sale of interest in subsidiaries 75,000,002  
Net assets of disposal subsidiaries $ 63,312,904  
XML 79 R60.htm IDEA: XBRL DOCUMENT v3.3.1.900
Convertible Note (Details) - USD ($)
1 Months Ended 12 Months Ended
Dec. 19, 2015
Dec. 31, 2015
Dec. 31, 2014
Convertible note interest rate   8.00%  
Issuance of convertible note   $ 150,000,000
Debt instrument, accrued interest   75,000,000  
Interest expense   197,260
Jasper [Member]      
Convertible note interest rate 8.00%    
Principal amount $ 150,000,000    
Issuance of convertible note   $ 75,000,000  
Debt instrument, price per share $ 10.00    
XML 80 R61.htm IDEA: XBRL DOCUMENT v3.3.1.900
Employee Retirement Benefit (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Employee Retirement Benefit [Abstract]    
Amount of contributions $ 64,005 $ 17,507
XML 81 R62.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Summary of income tax benefits    
Current
Deferred tax benefit $ 1,378,700 $ 1,402,421
Income taxes expense (benefit) $ 1,378,700 $ 1,402,421
XML 82 R63.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Details 1) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Reconciliation between statutory rate and effective tax rate    
EIT at the PRC statutory rate of 25% $ (981,634) $ 1,414,879
Permanent items 2,921,774 $ (12,458)
Valuation allowance (561,440)
Income taxes benefit $ 1,378,700 $ 1,402,421
XML 83 R64.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Details 2) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets/liabilities    
Operating loss carry forward $ 303,237 $ 229,288
Excess of interest expense 1,398,582 648,140
Accrued expenses 1,912,600 1,543,021
Net deferred tax assets/liabilities $ 3,614,419 $ 2,420,449
XML 84 R65.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Details Textual)
12 Months Ended
Dec. 31, 2015
USD ($)
Income Taxes (Textual)  
Enterprise income tax rate ( in percentage) 25.00%
Total deferred tax assets associated with net operating loss carry forward $ 1,212,948
Operating loss carryforwards, expiration dates Various dates between December 31, 2018 and 2019.
Debt Instrument, Interest Rate During Period 8.00%
XML 85 R66.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings (Loss) Per Share (Details) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Numerator:    
Net income (loss) for basic and diluted earnings (loss) per share $ 5,305,236 $ (4,257,096)
Denominator:    
Weighted average number of common shares outstanding-basic and diluted 151,682,554 151,000,000
Basic and diluted earnings (loss) per share $ 0.03 $ (0.03)
XML 86 R67.htm IDEA: XBRL DOCUMENT v3.3.1.900
Earnings (Loss) Per Share (Details Textual)
12 Months Ended
Dec. 31, 2015
shares
Earnings (Loss) Per Share (Textual)  
Common shares excluded from the calculation of diluted earnings (loss) per share 246,900
Conversions of convertible note 8.00%
XML 87 R68.htm IDEA: XBRL DOCUMENT v3.3.1.900
Related Party Transactions (Details) - USD ($)
12 Months Ended
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Related Party Transaction [Line Items]      
At beginning of year   $ 322,388,060  
Advances from the related party   $ 4,874,761 $ 4,834,513
Repayment to related parties   (47,187,464)
Forgiveness of loan   $ 285,413,074  
Exchange difference adjustment   (6,649,917) (147,341)
At end of year   32,045,112 322,388,060
Wuhan Renhe [Member]      
Related Party Transaction [Line Items]      
At beginning of year   322,388,060 366,755,923
Advances from the related party   28,463,394 4,834,513
Repayment to related parties     (47,187,464)
Forgiveness of loan $ 285,413,074 (285,413,074)  
Exchange difference adjustment   (36,616,291) (2,014,912)
At end of year   $ 28,822,089 $ 322,388,060
Renhe RE [Member]      
Related Party Transaction [Line Items]      
At beginning of year  
Advances from the related party   $ 667,776
At end of year   $ 667,776
Mr Zhao Weibin [Member]      
Related Party Transaction [Line Items]      
At beginning of year  
Advances from the related party   $ 126,516
At end of year   $ 126,516
Mr Liu Xiangyao [Member]      
Related Party Transaction [Line Items]      
At beginning of year  
Advances from the related party   $ 2,428,731
At end of year   $ 2,428,731
XML 88 R69.htm IDEA: XBRL DOCUMENT v3.3.1.900
Related Party Transactions (Details Textual) - USD ($)
12 Months Ended
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Related Party Transactions (Textual)        
Due to related parties   $ 32,045,112 $ 322,388,060  
Additional paid-in capital   230,935,849 27,955,331  
Forgiveness of loan   285,413,074    
Wuhan Renhe [Member]        
Related Party Transactions (Textual)        
Due to related parties   28,822,089 $ 322,388,060 $ 366,755,923
Additional paid-in capital $ 285,413,074      
Forgiveness of loan $ 285,413,074 $ (285,413,074)    
Ownership percentage   100.00%    
Renhe RE [Member]        
Related Party Transactions (Textual)        
Due to related parties   $ 667,776
Mr Zhao Weibin [Member]        
Related Party Transactions (Textual)        
Due to related parties   126,516
Mr Liu Xiangyao [Member]        
Related Party Transactions (Textual)        
Due to related parties   $ 2,428,731
XML 89 R70.htm IDEA: XBRL DOCUMENT v3.3.1.900
Share - Based Compensation Expenses (Details)
12 Months Ended
Dec. 31, 2015
USD ($)
$ / shares
shares
Share based compensation expenses (Textual)  
Share-based compensation expense | $ $ 1,808,867
December 31, 2016 [Member]  
Share based compensation expenses (Textual)  
Share-based compensation expense | $ $ 1,941,163
Restricted Stock [Member]  
Share based compensation expenses (Textual)  
Restricted common stock exchange for legal services | shares 317,345
Restricted common stock exchange for professional services | shares 340,555
Restricted common stock granted for legal and professional services, share price | $ / shares $ 5.7
XML 90 R71.htm IDEA: XBRL DOCUMENT v3.3.1.900
Concentration of Credit Risks (Details)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Accounts receivable [Member]    
Concentration of Credit Risks (Textual)    
Concentration risk, Percentage 10.00% 10.00%
XML 91 R72.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies (Details)
Dec. 31, 2015
USD ($)
Commitments and Contingencies [Abstract]  
2016 $ 72,000
2017 18,000
Total minimum payment required $ 90,000
XML 92 R73.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies (Details Textual) - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Commitments and Contingencies (Textual)    
Rental expenses $ 6,000
EXCEL 93 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 95 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 97 FilingSummary.xml IDEA: XBRL DOCUMENT 3.3.1.900 html 87 238 1 false 26 0 false 7 false false R1.htm 001 - Document - Document and Entity Information Sheet http://www.kirinintl.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 002 - Statement - Consolidated Balance Sheets Sheet http://www.kirinintl.com/role/ConsolidatedBalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 003 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://www.kirinintl.com/role/ConsolidatedBalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 004 - Statement - Consolidated Statements of Operations and Comprehensive Loss Sheet http://www.kirinintl.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveLoss Consolidated Statements of Operations and Comprehensive Loss Statements 4 false false R5.htm 005 - Statement - Consolidated Statements of Changes in Equity Sheet http://www.kirinintl.com/role/ConsolidatedStatementsOfChangesInEquity Consolidated Statements of Changes in Equity Statements 5 false false R6.htm 006 - Statement - Condensed Consolidated Statements of Cash Flows Sheet http://www.kirinintl.com/role/CondensedConsolidatedStatementsOfCashFlows Condensed Consolidated Statements of Cash Flows Statements 6 false false R7.htm 007 - Disclosure - Organization and Principal Activities Sheet http://www.kirinintl.com/role/OrganizationAndPrincipalActivities Organization and Principal Activities Notes 7 false false R8.htm 008 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.kirinintl.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 8 false false R9.htm 009 - Disclosure - Risks Sheet http://www.kirinintl.com/role/Risks Risks Notes 9 false false R10.htm 010 - Disclosure - Other Assets and Receivables Sheet http://www.kirinintl.com/role/OtherAssetsAndReceivables Other Assets and Receivables Notes 10 false false R11.htm 011 - Disclosure - Real Estate Property Completed Sheet http://www.kirinintl.com/role/RealEstatePropertyCompleted Real Estate Property Completed Notes 11 false false R12.htm 012 - Disclosure - Real Estate Properties and Land Lots Under Development Sheet http://www.kirinintl.com/role/RealEstatePropertiesAndLandLotsUnderDevelopment Real Estate Properties and Land Lots Under Development Notes 12 false false R13.htm 013 - Disclosure - Property and Equipment Sheet http://www.kirinintl.com/role/PropertyAndEquipment Property and Equipment Notes 13 false false R14.htm 014 - Disclosure - Other Payables and Accrued Liabilities Sheet http://www.kirinintl.com/role/OtherPayablesAndAccruedLiabilities Other Payables and Accrued Liabilities Notes 14 false false R15.htm 015 - Disclosure - Real Estate Property Refund and Compensation Payable Sheet http://www.kirinintl.com/role/RealEstatePropertyRefundAndCompensationPayable Real Estate Property Refund and Compensation Payable Notes 15 false false R16.htm 016 - Disclosure - Loans Payable Sheet http://www.kirinintl.com/role/LoansPayable Loans Payable Notes 16 false false R17.htm 017 - Disclosure - Gain on Disposal of Subsidiaries Sheet http://www.kirinintl.com/role/GainOnDisposalOfSubsidiaries Gain on Disposal of Subsidiaries Notes 17 false false R18.htm 018 - Disclosure - Convertible Note Sheet http://www.kirinintl.com/role/ConvertibleNote Convertible Note Notes 18 false false R19.htm 019 - Disclosure - Employee Retirement Benefit Sheet http://www.kirinintl.com/role/EmployeeRetirementBenefit Employee Retirement Benefit Notes 19 false false R20.htm 020 - Disclosure - Income Taxes Sheet http://www.kirinintl.com/role/IncomeTaxes Income Taxes Notes 20 false false R21.htm 021 - Disclosure - Earnings (Loss) Per Share Sheet http://www.kirinintl.com/role/EarningsLossPerShare Earnings (Loss) Per Share Notes 21 false false R22.htm 022 - Disclosure - Related Party Transactions Sheet http://www.kirinintl.com/role/RelatedPartyTransactions Related Party Transactions Notes 22 false false R23.htm 023 - Disclosure - Share-Based Compensation Expenses Sheet http://www.kirinintl.com/role/ShareBasedCompensationExpenses Share-Based Compensation Expenses Notes 23 false false R24.htm 024 - Disclosure - Concentration of Credit Risks Sheet http://www.kirinintl.com/role/ConcentrationOfCreditRisks Concentration of Credit Risks Notes 24 false false R25.htm 025 - Disclosure - Commitments and Contingencies Sheet http://www.kirinintl.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 25 false false R26.htm 026 - Disclosure - Subsequent Event Sheet http://www.kirinintl.com/role/SubsequentEvent Subsequent Event Notes 26 false false R27.htm 027 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://www.kirinintl.com/role/SummaryOfSignificantAccountingPoliciespolicies Summary of Significant Accounting Policies (Policies) Policies http://www.kirinintl.com/role/SummaryOfSignificantAccountingPolicies 27 false false R28.htm 028 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://www.kirinintl.com/role/SummaryofSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://www.kirinintl.com/role/SummaryOfSignificantAccountingPolicies 28 false false R29.htm 029 - Disclosure - Risks (Tables) Sheet http://www.kirinintl.com/role/RisksTables Risks (Tables) Tables http://www.kirinintl.com/role/Risks 29 false false R30.htm 030 - Disclosure - Other Assets and Receivables (Tables) Sheet http://www.kirinintl.com/role/OtherAssetsAndReceivablesTables Other Assets and Receivables (Tables) Tables http://www.kirinintl.com/role/OtherAssetsAndReceivables 30 false false R31.htm 031 - Disclosure - Real Estate Property Completed (Tables) Sheet http://www.kirinintl.com/role/RealEstatePropertyCompletedTables Real Estate Property Completed (Tables) Tables http://www.kirinintl.com/role/RealEstatePropertyCompleted 31 false false R32.htm 032 - Disclosure - Real Estate Properties and Land Lots Under Development (Tables) Sheet http://www.kirinintl.com/role/RealEstatePropertiesandLandLotsUnderDevelopmentTables Real Estate Properties and Land Lots Under Development (Tables) Tables http://www.kirinintl.com/role/RealEstatePropertiesAndLandLotsUnderDevelopment 32 false false R33.htm 033 - Disclosure - Property and Equipment (Tables) Sheet http://www.kirinintl.com/role/PropertyandEquipmentTables Property and Equipment (Tables) Tables http://www.kirinintl.com/role/PropertyAndEquipment 33 false false R34.htm 034 - Disclosure - Other Payables and Accrued Liabilities (Tables) Sheet http://www.kirinintl.com/role/OtherPayablesandAccruedLiabilitiesTables Other Payables and Accrued Liabilities (Tables) Tables http://www.kirinintl.com/role/OtherPayablesAndAccruedLiabilities 34 false false R35.htm 035 - Disclosure - Real Estate Property Refund and Compensation Payable (Tables) Sheet http://www.kirinintl.com/role/RealEstatePropertyRefundandCompensationPayableTables Real Estate Property Refund and Compensation Payable (Tables) Tables http://www.kirinintl.com/role/RealEstatePropertyRefundAndCompensationPayable 35 false false R36.htm 036 - Disclosure - Loans Payable (Tables) Sheet http://www.kirinintl.com/role/LoansPayableTables Loans Payable (Tables) Tables http://www.kirinintl.com/role/LoansPayable 36 false false R37.htm 037 - Disclosure - Income Taxes (Tables) Sheet http://www.kirinintl.com/role/IncomeTaxesTables Income Taxes (Tables) Tables http://www.kirinintl.com/role/IncomeTaxes 37 false false R38.htm 038 - Disclosure - Earnings (Loss) Per Share (Tables) Sheet http://www.kirinintl.com/role/EarningsLossPerShareTables Earnings (Loss) Per Share (Tables) Tables http://www.kirinintl.com/role/EarningsLossPerShare 38 false false R39.htm 039 - Disclosure - Related Party Transactions (Tables) Sheet http://www.kirinintl.com/role/Relatedpartytransactionstables Related Party Transactions (Tables) Tables http://www.kirinintl.com/role/RelatedPartyTransactions 39 false false R40.htm 040 - Disclosure - Commitments and Contingencies (Tables) Sheet http://www.kirinintl.com/role/CommitmentsAndContingenciesTables Commitments and Contingencies (Tables) Tables http://www.kirinintl.com/role/CommitmentsAndContingencies 40 false false R41.htm 041 - Disclosure - Organization and Principal Activities (Details) Sheet http://www.kirinintl.com/role/OrganizationandPrincipalActivitiesDetails Organization and Principal Activities (Details) Details http://www.kirinintl.com/role/OrganizationAndPrincipalActivities 41 false false R42.htm 042 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://www.kirinintl.com/role/SummaryofSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://www.kirinintl.com/role/SummaryofSignificantAccountingPoliciesTables 42 false false R43.htm 043 - Disclosure - Summary of Significant Accounting Policies (Details Textual) Sheet http://www.kirinintl.com/role/SummaryOfSignificantAccountingPoliciesDetailsTextual Summary of Significant Accounting Policies (Details Textual) Details http://www.kirinintl.com/role/SummaryofSignificantAccountingPoliciesTables 43 false false R44.htm 044 - Disclosure - Risks (Details) Sheet http://www.kirinintl.com/role/RisksDetails Risks (Details) Details http://www.kirinintl.com/role/RisksTables 44 false false R45.htm 045 - Disclosure - Risks (Details Textual) Sheet http://www.kirinintl.com/role/RisksDetailsTextual Risks (Details Textual) Details http://www.kirinintl.com/role/RisksTables 45 false false R46.htm 046 - Disclosure - Other Assets and Receivables (Details) Sheet http://www.kirinintl.com/role/OtherAssetsAndReceivablesDetails Other Assets and Receivables (Details) Details http://www.kirinintl.com/role/OtherAssetsAndReceivablesTables 46 false false R47.htm 047 - Disclosure - Other Assets and Receivables (Details Textual) Sheet http://www.kirinintl.com/role/OtherAssetsAndReceivablesDetailsTextual Other Assets and Receivables (Details Textual) Details http://www.kirinintl.com/role/OtherAssetsAndReceivablesTables 47 false false R48.htm 048 - Disclosure - Real Estate Property Completed (Details) Sheet http://www.kirinintl.com/role/RealEstatePropertyCompletedDetails Real Estate Property Completed (Details) Details http://www.kirinintl.com/role/RealEstatePropertyCompletedTables 48 false false R49.htm 049 - Disclosure - Real Estate Properties and Land Lots Under Development (Details) Sheet http://www.kirinintl.com/role/RealEstatePropertiesandLandLotsUnderDevelopmentDetails Real Estate Properties and Land Lots Under Development (Details) Details http://www.kirinintl.com/role/RealEstatePropertiesandLandLotsUnderDevelopmentTables 49 false false R50.htm 050 - Disclosure - Real Estate Properties and Land Lots Under Development (Details Textual) Sheet http://www.kirinintl.com/role/RealEstatePropertiesAndLandLotsUnderDevelopmentDetailsTextual Real Estate Properties and Land Lots Under Development (Details Textual) Details http://www.kirinintl.com/role/RealEstatePropertiesandLandLotsUnderDevelopmentTables 50 false false R51.htm 051 - Disclosure - Property and Equipment (Details) Sheet http://www.kirinintl.com/role/PropertyandEquipmentDetails Property and Equipment (Details) Details http://www.kirinintl.com/role/PropertyandEquipmentTables 51 false false R52.htm 052 - Disclosure - Property and Equipment (Details Textual) Sheet http://www.kirinintl.com/role/PropertyAndEquipmentDetailsTextual Property and Equipment (Details Textual) Details http://www.kirinintl.com/role/PropertyandEquipmentTables 52 false false R53.htm 053 - Disclosure - Other Payables and Accrued Liabilities (Details) Sheet http://www.kirinintl.com/role/OtherPayablesandAccruedLiabilitiesDetails Other Payables and Accrued Liabilities (Details) Details http://www.kirinintl.com/role/OtherPayablesandAccruedLiabilitiesTables 53 false false R54.htm 054 - Disclosure - Real Estate Property Refund and Compensation Payable (Details) Sheet http://www.kirinintl.com/role/RealEstatePropertyRefundandCompensationPayableDetails Real Estate Property Refund and Compensation Payable (Details) Details http://www.kirinintl.com/role/RealEstatePropertyRefundandCompensationPayableTables 54 false false R55.htm 055 - Disclosure - Real Estate Property Refund and Compensation Payable (Details Textual) Sheet http://www.kirinintl.com/role/RealEstatePropertyRefundAndCompensationPayableDetailsTextual Real Estate Property Refund and Compensation Payable (Details Textual) Details http://www.kirinintl.com/role/RealEstatePropertyRefundandCompensationPayableTables 55 false false R56.htm 056 - Disclosure - Loans Payable (Details) Sheet http://www.kirinintl.com/role/LoansPayableDetails Loans Payable (Details) Details http://www.kirinintl.com/role/LoansPayableTables 56 false false R57.htm 057 - Disclosure - Loans Payable (Details 1) Sheet http://www.kirinintl.com/role/LoansPayableDetails1 Loans Payable (Details 1) Details http://www.kirinintl.com/role/LoansPayableTables 57 false false R58.htm 058 - Disclosure - Loans Payable (Details Textual) Sheet http://www.kirinintl.com/role/LoansPayableDetailsTextual Loans Payable (Details Textual) Details http://www.kirinintl.com/role/LoansPayableTables 58 false false R59.htm 059 - Disclosure - Gain on Disposal of Subsidiaries (Details) Sheet http://www.kirinintl.com/role/GainonDisposalofSubsidiariesDetails Gain on Disposal of Subsidiaries (Details) Details http://www.kirinintl.com/role/GainOnDisposalOfSubsidiaries 59 false false R60.htm 060 - Disclosure - Convertible Note (Details) Sheet http://www.kirinintl.com/role/ConvertibleNoteDetails Convertible Note (Details) Details http://www.kirinintl.com/role/ConvertibleNote 60 false false R61.htm 061 - Disclosure - Employee Retirement Benefit (Details) Sheet http://www.kirinintl.com/role/EmployeeRetirementBenefitDetails Employee Retirement Benefit (Details) Details http://www.kirinintl.com/role/EmployeeRetirementBenefit 61 false false R62.htm 062 - Disclosure - Income Taxes (Details) Sheet http://www.kirinintl.com/role/IncomeTaxesDetails Income Taxes (Details) Details http://www.kirinintl.com/role/IncomeTaxesTables 62 false false R63.htm 063 - Disclosure - Income Taxes (Details 1) Sheet http://www.kirinintl.com/role/IncomeTaxesDetails1 Income Taxes (Details 1) Details http://www.kirinintl.com/role/IncomeTaxesTables 63 false false R64.htm 064 - Disclosure - Income Taxes (Details 2) Sheet http://www.kirinintl.com/role/IncomeTaxesDetails2 Income Taxes (Details 2) Details http://www.kirinintl.com/role/IncomeTaxesTables 64 false false R65.htm 065 - Disclosure - Income Taxes (Details Textual) Sheet http://www.kirinintl.com/role/IncomeTaxesDetailsTextual Income Taxes (Details Textual) Details http://www.kirinintl.com/role/IncomeTaxesTables 65 false false R66.htm 066 - Disclosure - Earnings (Loss) Per Share (Details) Sheet http://www.kirinintl.com/role/EarningsLossPerShareDetails Earnings (Loss) Per Share (Details) Details http://www.kirinintl.com/role/EarningsLossPerShareTables 66 false false R67.htm 067 - Disclosure - Earnings (Loss) Per Share (Details Textual) Sheet http://www.kirinintl.com/role/EarningsLossPerShareDetailsTextual Earnings (Loss) Per Share (Details Textual) Details http://www.kirinintl.com/role/EarningsLossPerShareTables 67 false false R68.htm 068 - Disclosure - Related Party Transactions (Details) Sheet http://www.kirinintl.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://www.kirinintl.com/role/Relatedpartytransactionstables 68 false false R69.htm 069 - Disclosure - Related Party Transactions (Details Textual) Sheet http://www.kirinintl.com/role/RelatedPartyTransactionsDetailsTextual Related Party Transactions (Details Textual) Details http://www.kirinintl.com/role/Relatedpartytransactionstables 69 false false R70.htm 070 - Disclosure - Share - Based Compensation Expenses (Details) Sheet http://www.kirinintl.com/role/ShareBasedCompensationExpensesDetails Share - Based Compensation Expenses (Details) Details 70 false false R71.htm 071 - Disclosure - Concentration of Credit Risks (Details) Sheet http://www.kirinintl.com/role/ConcentrationofCreditRisksDetails Concentration of Credit Risks (Details) Details http://www.kirinintl.com/role/ConcentrationOfCreditRisks 71 false false R72.htm 072 - Disclosure - Commitments and Contingencies (Details) Sheet http://www.kirinintl.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) Details http://www.kirinintl.com/role/CommitmentsAndContingenciesTables 72 false false R73.htm 073 - Disclosure - Commitments and Contingencies (Details Textual) Sheet http://www.kirinintl.com/role/CommitmentsAndContingenciesDetailsTextual Commitments and Contingencies (Details Textual) Details http://www.kirinintl.com/role/CommitmentsAndContingenciesTables 73 false false All Reports Book All Reports yerr-20151231.xml yerr-20151231.xsd yerr-20151231_cal.xml yerr-20151231_def.xml yerr-20151231_lab.xml yerr-20151231_pre.xml true true ZIP 99 0001213900-16-010526-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-16-010526-xbrl.zip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