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2. Summary of Significant Accounting Policies: Statutory Reserve Fund (Policies)
5 Months Ended
May. 31, 2015
Policies  
Statutory Reserve Fund

Statutory Reserve Fund

 

Pursuant to corporate law of the PRC, the Company is required to transfer 10% of its net income, as determined under PRC accounting rules and regulations, to a statutory reserve fund until such reserve balance reaches 50% of the Company’s registered capital.  The statutory reserve fund is non-distributable other than during liquidation and can be used to fund previous years’ losses, if any, and may be utilized for business expansion or used to increase registered capital, provided that the remaining reserve balance after use is not less than 25% of registered capital.  The required statutory reserve fund was $215,737 and $144,454 as of May 31, 2015 and November 30, 2014, respectively.