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2. Summary of Significant Accounting Policies: Basis of Accounting and Presentation (Policies)
5 Months Ended
May. 31, 2015
Policies  
Basis of Accounting and Presentation

Basis of Accounting and Presentation

 

The accompanying consolidated financial statements have been in accordance with accounting principles generally accepted in the United States of America. The consolidated financial statements include those of the Company, its wholly owned subsidiaries and the VIE, Guangdong Gewang. The Company is the primary beneficiary of the VIE. All significant intercompany accounts and transactions have been eliminated in consolidation.

 

The unaudited interim consolidated financial statements of the Company as of May 31, 2015, and for the three and six month periods ended May 31, 2015 and 2014, have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission (the “SEC”) which apply to interim financial statements.  Accordingly, they do not include all of the information and footnotes normally required by accounting principles generally accepted in the United States of America for annual financial statements. The interim consolidated financial information should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Current Report on Form 8-K filed with the SEC on April 21, 2015. In the opinion of management, such information contains all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the periods presented. The results of operations for the three and six months ended May 31, 2015 are not necessarily indicative of the results to be expected for future quarters or for the year ending November 30, 2015.

 

All consolidated financial statements and notes to the consolidated financial statements are presented in United States dollars (“US Dollar” or “US$” or “$”).