0001552781-16-001882.txt : 20160805 0001552781-16-001882.hdr.sgml : 20160805 20160805090009 ACCESSION NUMBER: 0001552781-16-001882 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 24 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160805 DATE AS OF CHANGE: 20160805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANJIA CORP CENTRAL INDEX KEY: 0001532383 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 453051284 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55508 FILM NUMBER: 161809233 BUSINESS ADDRESS: STREET 1: 12520 A1 WESTHEIMER #139 CITY: HOUSTON STATE: TX ZIP: 77077 BUSINESS PHONE: 832-783-0188 MAIL ADDRESS: STREET 1: 12520 A1 WESTHEIMER #139 CITY: HOUSTON STATE: TX ZIP: 77077 FORMER COMPANY: FORMER CONFORMED NAME: VANJIE CORP DATE OF NAME CHANGE: 20131112 FORMER COMPANY: FORMER CONFORMED NAME: Vantone Realty Corp DATE OF NAME CHANGE: 20111011 10-Q 1 vj-10q6302016.htm

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

 

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

 

For the quarterly period ended June 30, 2016

 

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

 

Commission File No.333-179302

 

Vanjia Corporation

(Exact name of registrant as specified in its charter)

 

 

Texas   45-3051284
(State or other jurisdiction  (I.R.S. Employer Identification No.) 
of incorporation or organization)   

 

13009 Greenway Chase Court

Houston, Texas 77072

(Address of principal executive offices)

 

1-832-783-0188

(Issuer's telephone number)

 

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

 

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

 

Large accelerated filer [ ]                  Accelerated filer [ ]

Non-accelerated filer [ ]                    Small Reporting company [X]

 

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

 

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 during the preceding 12 months or for such shorter period that the registrant was required to submit and post such files).  [x] Yes   [  ] No

 

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the most practicable date: 6,000,000 as of August 1, 2016

 

 

1

 

 

Form 10-Q Report Index 

 

  Page No: 
PART 1. FINANCIAL INFORMATION  
Item 1. Financial Statements  
Condensed Balance Sheets   3
Condensed Statements of Operations   4
Condensed Statements of Cash Flows   5
Notes to financial Statements   6-9
Item 2. Management Discussion and Analysis of Financial Condition   10
Item 3. Quantitative and Qualitative Disclosures about Market Risk   10
Item 4. Control and Procedures   10
PART 11. OTHER INFORMATION    
Item 1. Legal Proceedings   11
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds   11
Item 3. Defaults Upon Senior Securities   11
Item 4. Mine Safety Disclosures   11
Item 5. Other Information   11
Item 6. Exhibit   11
Item 7. Signature   11

 

 

2

 

 

VANJIA CORPORATION

BALANCE SHEETS

 

   

June

30, 2016

(Unaudited)

 

December 

30, 2015

ASSETS        
Current Assets        
Cash and Cash equivalents $ 1,525 $ 6,202
Total current assets   1,525   6,202
Land Held for Investment   25,000   25,000
Total Assets $ 26,525 $ 31,202
LIABILITIES AND STOCKHOLDERS' EQUITY        
Current Liabilities:        
Accrued Expenses $ ________ - $ _______ -
Total Current Liabilities   ________ -   _______ -
Stockholders' Equity        
Common stock, par value $0.0001 per share, 9,999,999,999 share authorized, 6,000,000 shares issued and outstanding as of June 30, 2016 and December 31, 2015   600   600
Preferred Stock, par value $0.0001 per share, 8,888,888,888 shares authorized, 0 issued and outstanding as of June 30, 2016 and December 31, 2015    -    -
Additional Paid-In Capital   84,400   84,400
Deficit accumulated during development stage   (58,475)   (53,798)
Total stockholders' equity   26,525   31,202
Total Liabilities and Stockholders' Equity $ 26,525 $ 31,202
         
         

 

 

The Accompanying Notes are an Integral Part of the Financial Statements.

 

3

 

 

VANJIA CORPORATION

STATEMENTS OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2016 AND 2015

( UNAUDITED)

 

 

       

 

Six

Months

Ended

June 30,

2016

   

 

 

Six

 Months

Ended

June 30

2015

 

 

 

Three

Months

Ended

June 30,

2016

 

 

Three

Months

Ended

June 30,

2015

Revenue    -  $  - $ - $ - $ -
General and Administrative expenses       7,177    6,910   6,129   (6,235)
Loss from Operation       (7,177)    6,910   (6,129)   (6,235)
Other Income       2,500   -   1,500   -
Loss before Income taxes       (4,677)   (6,910)   (4,629)   (6,235)
Provision for Income taxes        

-

(6,910)

  -   -
Net Loss     $ (4,677) $ $ (4,629) $ (6,235)
Net Loss Per Share-Basic and Diluted     $ (0.00) $ (0.00) $ (0.00) $ (0.00)

Weighted Average Shares Outstanding: 

Basic and Diluted

     

 

 6,000,000

 

 

6,000,000

 

 

6,000,000

 

 

6,000,000

                     
                     
                     
                     
                   

 

The Accompanying Notes are an integral Part of the Financial Statements.

 

4

 

 

 

VANJIA CORPORATION

STATEMENT OF CASH FLOW

FOR THE SIX MONTHS ENDED JUNE 30, 2016 AND 2015

( UNAUDITED)

 

   

 

 

 

 

 

 

 

 

 

 

 

Six

Months Ended

June

30

2016

 

 

 

 

 

 

Six

Months Ended

June

30

 2015 

CASH FLOWS FROM OPERATING ACTIVITIES:            
Net Loss     $ (4,677) $ (6,910)
Adjustments to reconcile net loss to net cash used in operations:            
Increase (Decrease) in accrued expenses   -      
Net cash used in operating activities       (4,677)   (6,910)
CASH FLOWS FROM FINANCING ACTIVITIES:            
Proceeds from issuance of common stock   -        
Net cash provided by financing activities   -        
NET CHANGE IN CASH       (4,677)   (6,910)
Cash and cash equivalents:            
Beginning       6,202   29,297 
Ending     $ 1,525 $ 22,387
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:            
Interest Expenses            
Income tax Expense     $ - $ -
NON-CASH TRANSACTION:     $ - $ -
Issuance of Common stock in exchange of real property     $ - $  -
             
             

 

The Accompanying Notes are an Integral Part of the Financial Statements.

 

5

 

 

VANJIA CORPORATION

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
JUNE 30, 2016

 

1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

BASIC OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The yearend condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company's Registration Statement on Form 10-K for the year ended December 31, 2015.

Organization and Nature of Business

Vanjia Corporation (formerly Vantone Realty Corporation), a company in the developmental stage (the “Company”), was incorporated on August 19, 2011 in the State of Texas. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company‘s business plan is to build affordable homes in Houston, Texas.

The Company's year-end is December 31.

 

GOING CONCERN

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had an accumulated deficit of $58,475 as of June 30, 2016, and it had no revenue from operations.

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

The Company is currently addressing its liquidity issue by continually seeking investment capital through private placements of common stock and debt. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

USE OF PRESENTATION

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

IMPAIRMENT OF LONG-LIVED ASSETS

 

The Company reviews its long-lived assets whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is evaluated by comparing the carrying value of the long-lived assets with the estimated future net undiscounted cash flows expected to result from the use of the assets, including cash flows from disposition. Should the sum of the expected future net cash flows be less than the carrying value, the Company would recognize an impairment loss at that date. An impairment loss would be measured by comparing the amount by which the carrying value exceeds the fair value (estimated discounted future cash flows) of the long-lived assets.

 

NET INCOME( LOSS) PER SHARE

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At June 30, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

INCOME TAXES

The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.

RECENT ACCOUNTING PRONOUNCEMENTS

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

2. INCOME TAXES

The Company has not yet realized income as of the date of this report, and no provision for income taxes has been made. As of June 30, 2016, the Company had net operating loss carry forwards of approximately $58,475 that may be available to reduce future year's taxable income. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a full valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

3. SUBSEQUENT EVENTS

The Company evaluated all events or transactions that occurred after June 30, 2016 up through the date the Company issued these financial statements.

 

7

  

 

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

 

This section of the prospectus includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place an undue certainty on these forward-looking statements, which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

  

 

PLAN OF OPERATION

 

Our plan of operations for the next twelve months is to proceed with the implementation of our business plan.

 

GOALS

PROJECT OUTCOMES

 

Legal and Accounting Expenses Compliance with financial reporting and internal controls
Website Design Creation of our corporate website
Civil Engineer or Surveyor's Fees Subdivision of lands
Architect drawings Complete a set of plans for building permits
Project Consultants Quality Control of construction project
Marketing and Promotion Marketing and public awareness activities
Working Capital Office supplies, telephone, postage and other miscellaneous expenses

 

 

 

ACCOUNTING AND LEGAL EXPENSES- Our estimate these related expenses will range from $5,500 for the next 12 months. After the effectiveness of this registration statement, we will become a public company. We will be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the Sarbanes-Oxley Act of 2002. The Exchange Act requires that we file annual, quarterly and current reports with respect to our business and financial condition. The SarbanesOxley Act requires that we maintain effective disclosure controls and procedures and internal controls for financial reporting.

 

CREATE OUR CORPORATE WEBSITE- It is part of our business plan to have our website. A website can convey our corporate images and services to our potential customers. We believe our estimated cost of $1,250 will be sufficient to cover our projected expense for website design.

 

SURVEYOR'S FEES- We are required to obtain surveyors' services related to subdivision of land. Our estimated cost for a surveyor' services will be $4,500. The Planning Commission for the City of Houston is responsible for the review and approval of application for subdivision of land.

8

 

 

ARCHITECT DRAWINGS- We are required to obtain several sets of architect drawings in connection with our proposed construction projects. We estimated the cost for architect drawings will be $5,000 to$7,500 per year.

 

PROJECT CONSULTANTS- Once we have obtained the necessary building permits from the City of Houston, we will be ready to build our residential homes. We will require to hire project consultants to monitor the quality control of our construction projects. We intend to spent $6,300 to $12,600 annually for project consultants.

 

MARKETING AND PROMOTION- Our staff will distribute our promotional fliers on foot, spending afternoons knocking on the doors of residences in targeted neighborhoods, as well as residences already in designated HOPE and Workforce areas. Speaking with potential buyers directly is the best way to inform and engage the communities. When speaking to residents, we will explain the Houston HOPE and Workforce programs, specifically mentioning how these programs can benefit them as future owners of our new homes and services. We will then outline in further detail the government assistance option available to them. The government can offer up to $30,000 for down payments and unlike renting, home ownership allows one to build up home equity.

 

The following table shows the projection of our building activities for three years:

 

 

1st Year milestone

 

2nd Year milestone

 

3rd Year milestone
Number of residential homes 2-3 homes 3-5 homes 5-8 homes
Location of new residential homes Houston, Texas Houston, Texas Houston, Texas
Estimated cost for each milestone $100,000 $200,000 $300,000

 

 

LIQUIDITY AND CAPITAL RESOURCES

 

On June 30, 2016, our total assets was $26,525 and our total liabilities were $-0- which resulted in working capital of $26,525. We expect to raise additional capital through, among other things, the sale of equity or debt securities, private placement offerings, employee stock options plans, and advanced funds from our officer and director. Any deficiencies in general and administrative expenses will be covered from funds by our director and officer. Our officer and director, Tian Su Hua, has agreed to provide us a $100,000 line-of-credit at -0- interest. The management believes that an existing $100,000 line-of credit agreement with our officer and director will be sufficient to cover our operational expense for the next twelve months. The residential lot we currently own is large enough to accommodate up to eight homes. We believe that our future expenditures for the second and third years will be covered by revenues generate from sell of new homes and additional offerings for equity or debt securities, private placement offerings, employee options plans and funds from our officer and director.

 

RESULTS OF OPERATIONS

 

From August 19, 2011 (Inception) to June 30, 2016.

 

During the period, our incorporation in the State of Texas, we hired attorney for the preparation of this registration statement and our auditors to audit our financial statements. We have prepared a business plan. Our accumulated loss since August 19, 2011 (Inception) to June 30, 2016 was $(58,475) for general and administrative expenses.

 

9

 

 
     
     

OFF-BALANCE SHEET ARRANGEMENT

 

The Company has no material transactions, arrangements, obligations or other relationships with entities or other persons that have or are reasonably likely to have a material current or future impact, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

We are a small reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Under the supervision and with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting during the quarter ended June 30, 2013 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

10

 

 

 

 

 

PART II. OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

From time to time we are involved in various routine legal proceedings arising in our ordinary course of business. Any such currently pending matters would not, in the opinion of management, have a material adverse effect on our financial conditions or results of operations.

 

Item 1A. RISK FACTORS

 

We are a small reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

There were no unregistered sales of equity securities during the quarterly period ended June 30, 2016.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None

 

ITEM 4. MINE SAFETY DISCLOSURE

 

Not applicable

 

ITEM 5. OTHER INFORMATION

 

None

 

ITEM 6. EXHIBITS

 

Exhibit 31.1 Certificate of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Exhibit 101 XBRL data files of Financial Statements and notes contained in this Quarterly Report on Form 10Q.

 

* In accordance with Regulation S-T, the Interactive Data Files in Exhibit 101 to the Quarterly Report on Form 10-Q shall be deemed “furnished” and not “filed.”

 

ITEM 7. SIGNATURES

 

Pursuant to the requirements 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.

 

Vanjia Corporation

( formerly Vantone Realty Corporation)

 

/s/ Tian Su Hua

Tian Su Hua

Chief Executive Officer/Chief Financial Officer

Principle Accounting Officer

 

August 1, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

EX-31 2 ex_31.htm

SARBANES-OXLEY SECTION 302(a) CERTIFICATION

 

I, Tian Su Hua, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q for the period ended June 30, 2016 of Vanjia Corporation.

 

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(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15-d-15(f)) for the registrant and have:

 

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5. The registrant’s other certifying officer(s) 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.

 

   
August 1, 2016

Vanjia Corporation ( formerly Vantone Realty Corporation)

/s/ Tian Su Hua

  Tian Su Hua
  Principal Executive Officer/ Principal Financial Officer

 

 

 

 

EX-31 3 ex_32.htm

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

 In connection with the Quarterly Report of Vanjie Corporation (the “Company”) on Form 10-Q for the period ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “report”),

 

I, Tian Su Hua, Chief Executive Officer and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that: 

 

  (1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

  (2) The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

 

 

     Vanjia Corporation ( formerly Vantone Realty Corporation)

 

Dated: August 1, 2016

  /s/ Tian Su Hua
     
    Tian Su Hua
    Chief Financial Officer, Chief Executive Officer

 

 

 

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Document and Entity Information - shares
6 Months Ended
Jun. 30, 2016
Aug. 01, 2016
Document And Entity Information    
Entity Registrant Name Vanjia Corporation  
Entity Central Index Key 0001532383  
Document Type 10-Q  
Document Period End Date Jun. 30, 2016  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   6,000,000
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2016  
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Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 1,525 $ 6,202
Total current assets 1,525 6,202
Land held for investment 25,000 25,000
Total Assets 26,525 31,202
Current Liabilities    
Accrued expenses
Total Current Liabilities
Stockholders' Equity    
Common stock, par value $0.0001 per share, 9,999,999,999 share authorized, 6,000,000 shares issued and outstanding as of June 30, 2016 and December 31, 2015 600 600
Preferred Stock, par value $0.0001 per share, 8,888,888,888 shares authorized, 0 issued and outstanding as of June 30, 2016 and December 31, 2015  
Additional paid-in capital 84,400 84,400
Deficit accumulated during the development stage (58,475) (53,798)
Total stockholders' equity 26,525 31,202
Total Liabilities and Stockholders' Equity $ 26,525 $ 31,202
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Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2016
Dec. 31, 2015
Statement of Financial Position [Abstract]    
Common stock par value $ 0.0001 $ 0.0001
Common stock shares authorized 9,999,999,999 9,999,999,999
Common stock shares issued 6,000,000 6,000,000
Common stock shares outstanding 6,000,000 6,000,000
Preferred Stock par value $ 0.0001 $ 0.0001
Preferred Stock shares authorized 8,888,888,888 8,888,888,888
Preferred Stock shares issued 0 0
Preferred Stock shares outstanding 0 0
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Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Revenue
General and Administrative expenses 6,129 (6,235) 7,177 6,910
Loss from Operation (6,129) (6,235) (7,177) 6,910
Other Income 1,500 2,500
Loss before Income taxes (4,629) (6,235) (4,677) (6,910)
Provision for income taxes
Net Loss $ (4,629) $ (6,235) $ (4,677) $ (6,910)
Net Loss Per Share-Basic and Diluted $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted Average Shares Outstanding:        
Basic and Diluted 6,000,000 6,000,000 6,000,000 6,000,000
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Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (4,629) $ (6,235) $ (4,677) $ (6,910)
Adjustments to reconcile net loss to net cash used in operations:        
Increase (Decrease) in accrued expenses    
Net cash used in operating activities     (4,677) (6,910)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from issuance of common stock    
Net cash provided by financing activities    
NET CHANGE IN CASH     (4,677) (6,910)
Cash and cash equivalents        
Beginning     6,202 29,297
Ending $ 1,525 $ 22,387 1,525 22,387
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:        
Interest expense    
Income tax Expense    
NON-CASH TRANSACTION:        
Issuance of common stock in exchange of real property    
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NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

 

BASIC OF PRESENTATION

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The yearend condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company's Registration Statement on Form 10-K for the year ended December 31, 2015.

 

Organization and Nature of Business

Vanjia Corporation (formerly Vantone Realty Corporation), a company in the developmental stage (the ”Company”), was incorporated on August 19, 2011 in the State of Texas. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company’s business plan is to build affordable homes in Houston, Texas. The Company's year-end is December 31.

 

GOING CONCERN

 

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had an accumulated deficit of $58,475 as of June 30, 2016, and it had no revenue from operations.

 

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

 

The Company is currently addressing its liquidity issue by continually seeking investment capital through private placements of common stock and debt. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability t o achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

 

USE OF PRESENTATION

 

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

 

CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

 

IMPAIRMENT OF LONG-LIVED ASSETS

 

The Company reviews its long-lived assets whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is evaluated by comparing the carrying value of the long-lived assets with the estimated future net undiscounted cash flows expected to result from the use of the assets, including cash flows from disposition. Should the sum of the expected future net cash flows be less than the carrying value, the Company would recognize an impairment loss at that date. An impairment loss would be measured by comparing the amount by which the carrying value exceeds t he fair value (estimated discounted future cash flows) of the long-lived assets.

 

NET INCOME (LOSS) PER SHARE

 

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At June 30, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

 

INCOME TAXES

 

The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.

 

RECENT ACCOUNTING PRONOUNCEMENTS

 

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

 

XML 16 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
INCOME TAXES
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
INCOME TAXES

2. INCOME TAXES

 

The Company has not yet realized income as of the date of this report, and no provision for income taxes has been made. As of June 3 0, 2016, the Company had net operating loss carry forwards of approximately $58,475 that may be available to reduce future year's tax able income. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a full valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

XML 17 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

3. SUBSEQUENT EVENTS

The Company evaluated all events or transactions that occurred after June 30, 2016 up through the date the Company issued these financial statements.

XML 18 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies)
6 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
Basis of Presentation and Organization

BASIC OF PRESENTATION

 

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10 of Regulation S X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial position and the results of operations for the interim periods presented. The year end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company's Registration Statement on Form 10-K for the year ended December 31, 2015.

 

Organization and Nature of Business

Vanjia Corporation (formerly Vantone Realty Corporation), a company in the developmental stage (the ”Company”), was incorporated on August 19, 2011 in the State of Texas. The Company has conducted limited business operations and had no revenues from operations since its inception. The Company’s business plan is to build affordable homes in Houston, Texas. The Company's year-end is December 31.

Going Concern

GOING CONCERN

 

These financial statements were prepared on the basis of accounting principles applicable to going concern, which assumes the realization of assets and discharge of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company had an accumulated deficit of $58,475 as of June 30, 2016, and it had no revenue from operations.

 

The Company faces all the risks common to companies at development stage, including capitalization and uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. The Company's losses raise substantial doubt about its ability to continue as a going concern. The Company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty.

 

The Company is currently addressing its liquidity issue by continually seeking investment capital through private placements of common stock and debt. The Company believes its current and future plans enable it to continue as a going concern. The Company's ability to achieve these objectives cannot be determined at this time. These financial statements do not give effect to any adjustments which would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal course of business and at amounts which may differ from those in the accompanying consolidated financial statements.

 

USE OF PRESENTATION

USE OF PRESENTATION

 

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

CASH AND CASH EQUIVALENTS

 

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Impairment of long-lived assets

IMPAIRMENT OF LONG-LIVED ASSETS

 

The Company reviews its long-lived assets whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is evaluated by comparing the carrying value of the long-lived assets with the estimated future net undiscounted cash flows expected to result from the use of the assets, including cash flows from disposition. Should the sum of the expected future net cash flows be less than the carrying value, the Company would recognize an impairment loss at that date. An impairment loss would be measured by comparing the amount by which the carrying value exceeds the fair value (estimated discounted future cash flows) of the long-lived assets.

 

Net Income (loss) per Share

NET INCOME (LOSS) PER SHARE

 

Basic income (loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period. Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. At June 30, 2016, the Company does not have any outstanding common stock equivalents; therefore, a separate computation of diluted loss per share is not presented.

 

Income Taxes

INCOME TAXES

 

The Company accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it is more likely than not that some or all of any deferred tax assets will not be realized.

Recent Accounting Pronouncements

RECENT ACCOUNTING PRONOUNCEMENTS

 

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.

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NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Details Narrative) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Accounting Policies [Abstract]    
Accumulated deficit $ (58,475) $ (53,798)
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