DUE TO SHAREHOLDERS

6 Months Ended

Jun. 30, 2014

DUE TO SHAREHOLDERS [Text Block]

Note 6 - DUE TO SHAREHOLDERS

Due to shareholders consists of the following:

		June 30,		December 31,
		2014		2013
Yukun Li	$	27,401	$	28,081
Guomin Li		392,005		382,720
Qingwei Zhou		1,923		1,923
Bing Xiao		154,487		115,490
	$	575,816	$	528,214

Guomin Li has been a shareholder of Hongbo since November 2006. Guomin Li was also the Company’s President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer and Director before February 22, 2010. Qingwei Zhou has been a shareholder of Chang-On since September 2006. Under the Agreement for the Share Exchange on December 29, 2006, Guomin Li and Qingwei Zhou acquired 17,400,000 and 36,600,000 shares of Gold Standard, Inc. respectively.

On February 22, 2010, Guomin Li sold 10,000,000 shares of the Company to Bing Xiao who also took over Guomin Li’s positions as the Company’s President, Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer and Director.