0001477932-18-003479.txt : 20180712 0001477932-18-003479.hdr.sgml : 20180712 20180712165700 ACCESSION NUMBER: 0001477932-18-003479 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 42 CONFORMED PERIOD OF REPORT: 20180331 FILED AS OF DATE: 20180712 DATE AS OF CHANGE: 20180712 FILER: COMPANY DATA: COMPANY CONFORMED NAME: China Grand Resorts, Inc. CENTRAL INDEX KEY: 0000860543 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] IRS NUMBER: 621407521 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-33263-NY FILM NUMBER: 18950922 BUSINESS ADDRESS: STREET 1: 20 WEST PARK AVENUE STREET 2: SUITE 207 CITY: LONG BEACH STATE: NY ZIP: 11561 BUSINESS PHONE: 646-831-0320 MAIL ADDRESS: STREET 1: 20 WEST PARK AVENUE STREET 2: SUITE 207 CITY: LONG BEACH STATE: NY ZIP: 11561 FORMER COMPANY: FORMER CONFORMED NAME: ASIA PREMIUM TELEVISION GROUP DATE OF NAME CHANGE: 20021114 FORMER COMPANY: FORMER CONFORMED NAME: GTM HOLDINGS INC DATE OF NAME CHANGE: 20000821 FORMER COMPANY: FORMER CONFORMED NAME: TRIAD WARRANTY CORPORATION INC DATE OF NAME CHANGE: 19930328 10-Q 1 cgnd_10q.htm FORM 10-Q cgnd_10q.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: March 31, 2018

 

o 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: 0-27246

 

CHINA GRAND RESORTS, INC.

(Name of Small Business Issuer in its charter)

 

Nevada

 

16-0383696

(State or other jurisdiction of Identification No.)

 

(I.R.S. Employer incorporation or organization)

 

20 West Park Avenue, Suite 207, Long Beach, NY 11561

Address of registrant’s principal executive offices

 

(516) 442-1883

Issuer’s telephone number

 

___________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

 

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. o Yes   x 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). o Yes   x No

 

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.

 

Large accelerated filer

¨

 

Accelerated filer

¨

Non-accelerated filer

¨

(Do not check if a smaller reporting company)

Smaller reporting company

x

Emerging Growth Company

¨

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

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

 

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: At July 12, 2018 there were 33,272,311 shares of common stock outstanding.

 

 
 
 
 

PART I — FINANCIAL INFORMATION

 

Item 1. Financial Statements.

 

China Grand Resorts, Inc.

Balance Sheets

 

 

 

 

 

 

 

 

 

 

As of

March 31,

2018

(Unaudited)

 

 

As of

September 30,

2017

(Audited)

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

Cash

 

$ -

 

 

$ -

 

Prepaid Expenses

 

 

-

 

 

 

5,000

 

TOTAL CURRENT ASSETS

 

 

-

 

 

 

5,000

 

TOTAL OTHER ASSETS

 

 

-

 

 

 

-

 

TOTAL ASSETS

 

$ -

 

 

$ 5,000

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

CURRENT LIABILTIES

 

 

 

 

 

 

 

 

Accounts Payable

 

 

44,145

 

 

 

21,187

 

Accrued Interest on Loans from Related Parties

 

 

378,292

 

 

 

353,944

 

Loan from Related Parties

 

 

1,219,814

 

 

 

1,219,814

 

TOTAL CURRENT LIABILTIES

 

 

1,642,251

 

 

 

1,594,945

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES

 

 

1,642,251

 

 

 

1,594,945

 

 

 

 

 

 

 

 

 

 

COMMITMENTS AND CONTIGENCIES

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

STOCKHOLDER'S EQUITY

 

 

 

 

 

 

 

 

Common stock ($0.001 par value; 100,000,000 shares authorized; 33,272,311 shares issued and outstanding at March 31, 2018 and September 30, 2017)

 

$ 33,272

 

 

$ 33,272

 

Additional Paid in Capital

 

 

10,128,046

 

 

 

10,114,796

 

Accumulated Deficit

 

 

(11,803,569 )

 

 

(11,738,013 )

TOTAL STOCKHOLDER'S EQUITY (DEFICIT)

 

 

(1,642,251 )

 

 

(1,589,945 )

TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT)

 

$ -

 

 

$ 5,000

 

 

The accompanying notes are an integral part of these financial statements.

 

 
2
 
 

 

China Grand Resorts, Inc.

Statements of Operations

(Unaudited)

 

 

 

For the three months

ending March 31,

 

 

For the six months

ending March 31,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

 

$ -

 

 

$ -

 

 

$ -

 

 

$ -

 

     Total Revenue

 

$ -

 

 

$ -

 

 

$ -

 

 

$ -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative

 

 

-

 

 

 

-

 

 

 

2,500

 

 

 

-

 

Professional Fees

 

 

23,115

 

 

 

635

 

 

 

38,707

 

 

 

1,085

 

     Total Expense

 

 

23,115

 

 

 

635

 

 

 

41,207

 

 

 

1,085

 

Loss from operations

 

$ (23,115 )

 

$ (635 )

 

$ (41,207 )

 

$ (1,085 )
OTHER INCOME/(EXPENSES):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Interest Expense

 

 

(12,174 )

 

 

(12,174 )

 

 

(24,348 )

 

 

(24,348 )
Total Other Net Income/(Expense)

 

$ (12,174 )

 

$ (12,174 )

 

$ (24,348 )

 

$ (24,348 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss Before Income tax

 

$ (35,289 )

 

$ (12,809 )

 

$ (65,555 )

 

$ (25,433 )

Provision for Income Taxes

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Net Income/(Loss)  

 

$ (35,289 )

 

$ (12,809 )

 

$ (65,555 )

 

$ (25,433 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic and fully diluted

 

 

33,272,311

 

 

 

33,272,311

 

 

 

33,272,311

 

 

 

33,272,311

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and fully diluted net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income/(Loss)

 

$ (0.001 )

 

$ (0.000 )

 

$ (0.002 )

 

$ (0.001 )

 

The accompanying notes are an integral part of these financial statements.

 

 
3
 
 

 

China Grand Resorts, Inc.

Statements of Cash Flows

(Unaudited)

 

 

 

For the six months

ended March 31,

 

 

 

2018

 

 

2017

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

Net loss

 

$ (65,555 )

 

$ (25,433 )

 

 

 

 

 

 

 

 

 

Adjustments to reconcile net (loss) to net cash provided by (used in) operations:

 

 

 

 

 

 

 

 

Changes in Assets and Liabilities:

 

 

 

 

 

 

 

 

(Increase) decrease in Prepaid Expense

 

 

5,000

 

 

 

-

 

Increase (decrease) in Accounts Payable and Other Accruals

 

 

47,305

 

 

 

24,348

 

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

 

 

(13,250 )

 

 

(1,085 )

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

 

 

 

 

 

 

-

 

FINANCING ACTIVITIES

 

 

 

 

 

 

 

 

Capital Contributions

 

 

13,250

 

 

 

1,085

 

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

 

 

13,250

 

 

 

1,085

 

 

 

 

 

 

 

 

 

 

NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS,

 

 

 

 

 

 

 

 

BEGINNING OF THE PERIOD

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

END OF THE PERIOD

 

$ -

 

 

$ -

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

 

 

 

 

 

 

 

 

CASH PAID DURING THE PERIOD FOR:

 

 

 

 

 

 

 

 

Interest

 

$ -

 

 

$ -

 

Taxes

 

$ -

 

 

$ -

 

 

The accompanying notes are an integral part of these financial statements.

 

 
4
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

 

NOTE A - BUSINESS ACTIVITY

 

China Grand Resorts, Inc. (the “Company”) was organized under the laws of the State of Nevada on September 21, 1989 under the name Fulton Ventures, Inc. Effective on November 16, 2009, the name was changed to China Grand Resorts Inc. After the September 30, 2014 10Q filing, the management of the Company abandoned the Company and the subsidiaries were taken back by the PRC national companies in China who owned them. The remaining parent company, China Grand Resorts, Inc. became a dormant company until 2016 when a new shareholder acquired stock to become the majority shareholder and owner of the Company. The Company’s fiscal year end is September 30th.

 

NOTE B - GOING CONCERN

 

The accompanying financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $11,803,569 and cash used in operations of $13,250 at March 31, 2018.

 

The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty.

 

To address these aforementioned, Management has undertaken the following initiatives: 1) enter into discussions to secure additional equity funding from current or new shareholders; 2) undertake a program to continue to monitor the Company’s ongoing working capital requirements and minimum expenditure commitments; and 3) continue their focus on maintaining an appropriate level of corporate overhead in line with the Company’s available cash resources.

 

NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP).

 

All adjustments have been made which in the opinion of management are necessary for presentation.

 

Interim filings should be read in conjunction with the Company’s annual report as of September 30, 2017.

 

Cash and Cash Equivalents- For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.

 

Management’s Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business.

 

Revenue Recognition- The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all the following criteria are met:

 

 

(i)

persuasive evidence of an arrangement exists,

 

(ii)

the services have been rendered and all required milestones achieved,

 

(iii)

the sales price is fixed or determinable, and

 

(iv)

collectability is reasonably assured.

 

 
5
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

  

NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D

 

Comprehensive Income (Loss) - The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.

 

Net Income per Common Share- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of March 31, 2018 and March 31, 2017.

 

Deferred Taxes- The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

 

Fair Value of Financial Instruments- The carrying amounts reported in the balance sheet for cash, accounts receivable and payable approximate fair value based on the short-term maturity of these instruments.

 

Accounts Receivable- Accounts deemed uncollectible are written off in the year they become uncollectible. As of March 31, 2018 and September 30, 2017, the balance in Accounts Receivable was $0 and $0, respectively.

 

Impairment of Long-Lived Assets- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended March 31, 2018 and March 31, 2017.

 

Stock-Based Compensation- The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

 

Fair Value for Financial Assets and Financial Liabilities- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

 

 
6
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

 

NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D

 

Level 1

Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

 

 

Level 2

Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

 

 

Level 3

Pricing inputs that are generally unobservable inputs and not corroborated by market data.

 

The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at March 31, 2018 and March 31, 2017.

 

The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at March 31, 2018, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended March 31, 2018 or March 31, 2017.

 

Recently Issued Accounting Pronouncements

 

In February 2016, the FASB issued ASU 2016-02, Leases, amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective in the first quarter of 2019 and allows for early adoption. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations.

 

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), that clarifies how certain cash receipts and cash payments should be classified on the statement of cash flows. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company does not expect there to be a material impact from adopting this new guidance.

  

In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which revises the definition of a business and assists in the evaluation of when a set of transferred assets and activities is a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted under certain circumstances. The Company does not expect the adoption of this guidance will have a material impact on its financial statements.

 

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. We currently anticipate that the adoption of ASU 2017-04 will not have a material impact on our financial statements.

 

 
7
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

 

NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES—CONT’D

   

Recently Issued Accounting Pronouncements (Cont’d)

 

In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation: Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment awarded require an entity to apply modification accounting. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in ASU 2017-09 are to be applied prospectively to an award modified on or after the adoption date; consequently, the impact will be dependent on whether we modify any share-based payment awards and the nature of such modifications. The adoption of this standard is not expected to have a material impact on our financial statements.

 

NOTE D - SEGMENT REPORTING

 

The Company follows the guidance set forth by section 280-10 of the FASB Accounting Standards Codification for reporting and disclosure on operating segments of the Company. It also requires segment disclosures about products and services, geographic areas, and major customers. The Company determined that it did not have any separately reportable operating segments as of March 31, 2018 and March 31, 2017.

 

NOTE E - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED

 

Other payables prior to the Company being abandoned consist of the following:

 

 

 

March 31,

2018

 

 

September 30, 2017

 

Professional Fees

 

$ 2,000

 

 

$ 2,000

 

Office Expenses

 

$ 19,187

 

 

$ 19,187

 

Total

 

$ 21,187

 

 

$ 21,187

 

 

NOTE F - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED

 

 

 

March 31,

2018

 

 

September 30,

2017

 

Redrock Capital Venture Limited (a)

 

 

100,281

 

 

$ 100,281

 

Beijing Hua Hui Hengye Investment Limited (b)

 

 

1,119,533

 

 

 

1,119,533

 

Total

 

$ 1,219,814

 

 

$ 1,219,814

 

 

(a) From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.

 

 
8
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

  

NOTE F - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED—CONT’D

 

(b) Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.

 

NOTE G - EQUITY

 

The Company is authorized to issue 100,000,000 Common Shares at $.001 par value per share.

 

In April 2016, 30,000,000 shares were issued to new owner, Bryan Glass at par.

 

Total issued and outstanding shares as of March 31, 2018 were 33,272,311.

 

To date, the majority shareholder, Bryan Glass contributed $29,006 for expenses and fees to reinstate the Company. This money is booked as a capital contribution.

 

October 1, 2015 to September 30, 2016

 

$ 6,924

 

October 1, 2016 to September 30, 2017

 

$ 8,832

 

October 1, 2017 to March 31, 2018

 

$ 13,250

 

Total

 

$ 29,006

 

 

NOTE H - INCOME TAX

 

The Company provides for income taxes under (now included under Accounting Standards Codification (ASC), 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

 

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss as of March 31, 2018 is approximately $11,800,000 and as of March 31, 2017 is $11,700,000 approximately. The total deferred tax asset is approximately $2,478,000 and $2,457,000 for the periods March 31, 2018 and March 31, 2017, respectively.

 

No tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited.

 

The Company is not obligated to pay state income taxes because it is a Nevada corporation.

 

 
9
 
 

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

China Grand Resorts, Inc.

March 31, 2018

(Unaudited)

  

NOTE I - MATERIAL EVENTS

 

Amended and Restated Articles of Incorporation

 

On May 5, 2016, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of the State of Nevada. The principal amendments to the articles of incorporation, as amended through the date of the filing of the Amended and Restated Articles of Incorporation include:

 

 

·

a reduction in the number of shares of common stock that the Company is authorized to issue from 1,750,000,000 shares to 100,000,000 shares;

 

 

 

 

·

the addition of a class of blank check preferred stock and the grant of authority to designate and issue said class of stock to the board of directors; and

 

 

 

 

·

provisions which require the Company to indemnify its directors and officers to the fullest extent permitted by law.

 

Related Party Transaction

 

On May 6, 2016, the Company entered into a consulting agreement with Bryan Glass pursuant to which it retained Mr. Glass to identify and negotiate with persons or entities with which the Company might enter into a business transaction to create an operating entity, in consideration for which services the Company issued to Mr. Glass 30 million shares of common stock. Mr. Glass has subsequently paid $10,756 on behalf of the Company for the filing and registration fees to the State of Nevada to reinstate the Company to active status.

 

Amended and Restated Bylaws

 

On October 24, 2017, the board of directors of the Company adopted Amended and Restated Bylaws to replace the prior bylaws in their entirety. The Amended and Restated Bylaws are intended to reflect the existing status of Nevada corporate law as of the date of their adoption and replace outdated provisions included in the Company’s original bylaws.

 

 
10
 
 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

Statements, other than historical facts, contained in this Quarterly Report on Form 10-Q, including statements of potential acquisitions and our strategies, plans and objectives, are “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”). Although we believe that our forward-looking statements are based on reasonable assumptions, we caution that such statements are subject to a wide range of risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are important factors that could cause actual results to differ materially from the forward looking statements, including, but not limited to; the time management devotes to identifying a target business; management’s ability to consummate a business combination; the financial condition of the target company with which we may enter a business combination; the effect of existing and future laws; governmental regulations; the political and economic climate of the United States; and conditions in the capital markets. We undertake no duty to update or revise these forward-looking statements.

 

When used in this Form 10-Q, the words, “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because these forward-looking statements involve risks and uncertainties, actual results could differ materially from those expressed or implied by these forward-looking statements for a number of important reasons.

 

General Background of the Registrant

 

China Grand Resorts, Inc. (“we,” “us,” “our” or the “Company”) was incorporated in the State of Nevada on September 21, 1989 under the name Fulton Ventures, Inc. On September 19, 2002, we changed our name to Asia Premium Television Group, Inc. to more accurately reflect our business at the time. Effective November 16, 2009, we changed our name to China Grand Resorts, Inc. to more accurately reflect its new business efforts. Commencing in 2002, we acquired and sold a series of subsidiary entities that were incorporated in various foreign jurisdictions, including the People’s Republic of China, or PRC, Macau, Hong Kong and the British Virgin Islands. Through 2009, these subsidiaries engaged in a variety of businesses, including, principally, marketing, brand management, advertising, media planning, public relations and direct marketing services to clients in the PRC.

 

The Company discontinued filing periodic reports under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), after it filed a quarterly report on Form 10-Q for the period ended June 30, 2014 (the “June 2014 10-Q”) on August 14, 2014. As reported in the Company’s annual report on Form 10-K for the year ended September 20, 2013 (the last periodic report filed under the Exchange Act with which the Company furnished audited financial statements) and the June 2014 10-Q, the Company was engaged, through its subsidiaries, in the provision of mobile phone based services in the PRC through Sun New Media Transaction Services Ltd., a Hong Kong corporation, and real estate investment in the PRC through Key Proper Holdings Limited, a British Virgin Islands corporation.

 

Since the filing of the June 2014 10-Q, current management is not aware of any contact between the Company and incumbent management as of the filing of the June 2014 10-Q, which we refer to as prior management, nor does current management have any knowledge or information relating to the business operations conducted by the Company or its subsidiaries as of that date, other than as reported in the periodic reports it filed with the SEC. The financial statements for the first and second quarters of fiscal 2018, ended on March 31, 2018 that are furnished with this report have been prepared under the assumption that prior management abandoned the business of the Company and appropriated all of the Company’s assets as of that date, including its operating subsidiaries, all of which were organized under foreign jurisdictions.

 

On April 4, 2016, Bryan Glass was appointed to serve as the custodian of the Company pursuant to an order of the District Court of Clark County Nevada and was authorized to take any action on behalf of the Company for the benefit of the Company and otherwise to reinstate the Company’s corporate existence in Nevada and convene a shareholders’ meeting to elect directors of the Company.

 

 
11
 
 

 

The Company held a shareholders meeting on May 4, 2016 at which Mr. Glass was elected as the sole director of the Company and the shareholders adopted and approved Amended and Restated Articles of Incorporation After Issuance of Stock. As of the date hereof, Mr. Glass, who we refer to as management, serves as our only director and officer.

 

On May 6, 2016, the Company entered into a consulting agreement with Mr. Glass pursuant to which the Company retained Mr. Glass to identify, negotiate with and consummate, subject to the approval of the board of directors, a business transaction, in consideration for which services the Company issued to Mr. Glass 30 million shares of common stock.

 

Business Objectives of the Registrant

 

As of the date of this report, we have no current operations. Management has determined to direct our efforts and limited resources to pursue potential new business opportunities through a combination with an operating or development stage company or an acquisition of assets. We do not intend to limit ourselves to a particular industry and we have not established any particular criteria upon which we shall consider and proceed with a business opportunity. We expect to utilize our capital stock, debt or a combination of capital stock and debt, in effecting a business transaction. It may be expected that entering into a business transaction will involve the issuance of restricted shares of capital stock. The issuance of additional shares of our capital stock:

 

 

·

may significantly reduce the equity interest of our existing stockholders;

 

 

 

 

·

will likely cause a change in control if a substantial number of our shares of capital stock are issued, and most likely will also result in the resignation or removal of our present officer and director; and

 

 

 

 

·

may adversely affect the prevailing market price for our common stock.

 

 

Similarly, if we issued debt securities, it could result in:

 

 

 

 

·

default and foreclosure on our assets if our operating revenues after a business combination were insufficient to pay our debt obligations;

 

 

 

 

·

acceleration of our obligations to repay the indebtedness even if we have made all principal and interest payments when due if the debt security contained covenants that required the maintenance of certain financial ratios or reserves and any such covenants were breached without a waiver or renegotiations of such covenants;

 

 

 

 

·

our inability to obtain additional financing, if necessary, if the debt security contained covenants restricting our ability to obtain additional financing while such security was outstanding.

 

Based on our current business activities, we are a “shell company” as defined under the Exchange Act because we have no operations and nominal assets consisting solely of cash and/or cash equivalents. We are also a “blank check” company as defined under the Exchange Act because we are a development stage company that is issuing a “penny stock” (as defined under the Exchange Act) and have no specific business plan or purpose other than to merge with an unidentified company or companies. Our status as a blank check company and a shell company will impact our company and shareholders in many ways, including:

 

 

·

 

the application of Rule 419 to any public offering of securities we may undertake, which could make closing such an offering more difficult than if we were not subject to such rule;

 

 

 

 

·

the application of the “penny stock” rules to shares of our common stock, which provide for enhanced disclosures by broker-dealers to persons desiring to purchase our stock in the open market, which may diminish demand for our stock in the open market;

 

 

 

 

·

limitations on the availability of Rule 144 to our shareholders who hold restricted stock, which may render raising capital in private transactions more difficult; and

 

 

 

 

·

limitations on the availability of Form S-8 to register shares of common stock issuable to our employees and consultants.

 

 
12
 
 

 

Further, the Company’s financial condition, including current liabilities as of $1,642,251 at March 31, 2018 and $1,594,945 at September 30, 2017, may be a significant impediment to identifying and consummating a business transaction.

 

Our management has broad discretion with respect to identifying and selecting a prospective business opportunity. We have not established any specific attributes or criteria (financial or otherwise) for a business opportunity and we may enter into a business combination with a development stage company, a distressed company or a foreign company engaged in any industry or we may purchase raw assets. Our management has never served in any capacity as management of a development stage public company that has consummated a business transaction such as that contemplated by us. Accordingly, our management may not successfully identify a prospective business opportunity or conclude a business transaction. In addition, our management engages in other business activities and is not obligated to devote any specific number of hours to our matters. Management intends to devote only as much time as it deems necessary to our affairs.

 

We anticipate that the selection of an appropriate business opportunity will be complex and extremely risky and we cannot assure you that we will be successful in concluding a transaction or if we do, that we will be successful thereafter. Our lack of financial and personnel resources may negatively impact our ability to consummate an attractive transaction or cause us to discontinue operations before we enter such a transaction.

 

We cannot assure you that we will be successful in concluding a business transaction. We will not realize any revenues or generate any income unless and until we successfully merge with or acquire an operating business that is generating revenues and otherwise is operating profitably. Moreover, we can offer no guarantee that we will achieve long-term or immediate short-term earnings from any business transaction.

 

Any entity with which we enter into a business transaction will be subject to numerous risks in connection with its operations. To the extent we affect a business transaction with a financially unstable company or an entity in its early stage of development or growth, including entities without established records of sales or earnings, we may be affected by numerous risks inherent in the business and operations of such companies. If we consummate a business transaction with a foreign entity, we will be subject to all of the risks attendant to foreign operations. Although our management will endeavor to evaluate the risks inherent in a particular opportunity, we cannot assure you that we will properly ascertain or assess all significant risk factors.

 

Our management anticipates that our Company likely will affect only one business transaction, due primarily to our limited financial resources and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management’s plan to offer a controlling interest to a target in order to achieve a tax-free reorganization. This lack of diversification should be considered a substantial risk in investing in us because it will not permit us to offset potential losses from one venture against potential gains from another.

 

Our common stock has been subject to quotation on the pink sheets under the symbol “CGND.” There is currently no active trading market in our shares nor do we believe that any active trading market has existed for the last 3 years. There can be no assurance that there will be an active trading market for our securities following the date hereof. In the event that an active trading market commences, there can be no assurance as to the market price of our shares of common stock, whether any trading market will provide liquidity to investors, or whether any trading market will be sustained.

 

Results of Operations

 

During the three and six-month periods ended March 31, 2018, the Company did not engage in any business operations. As described elsewhere in this report, management of the Company as of June 30, 2014 discontinued filing reports under the Exchange Act after the Company filed the June 2014 10-Q and current management, which assumed control of the Company in April 2016, believes that the Company has been inactive since August 14, 2014, the date on which the Company filed the June 2014 10-Q.

 

 
13
 
 

 

Results of Operations for the three months ended March 31, 2018 as compared to the three months ended March 31, 2017

 

During the three months ended March 31, 2018, the Company did not generate any revenue, incurred expenses of $35,289, including $23,115 of professional fees (attributable principally to the preparation and filing of the delinquent reports the Company was required to file with the SEC) and $12,174 of interest expense, and suffered a net loss of $35,289, as compared to the three months ended March 31, 2017 in which the Company did not generate any revenue, incurred expenses of $12,809, including $635 of professional fees and $12,174 of interest expense, and suffered a net loss of $12,809.

 

Results of Operations for the six months ended March 31, 2018 as compared to the six months ended March 31, 2017

 

During the six months ended March 31, 2018, the Company did not generate any revenue, incurred expenses of $65,555, including $2,500 of selling, general and administrative expenses, $38,707 of professional fees (attributable principally to the preparation and filing of the delinquent reports the Company was required to file with the SEC) and $24,348 of interest expense, and suffered a net loss of $65,555, as compared to the six months ended March 31, 2017 in which the Company did not generate any revenue, incurred expenses of $25,433, including $1,085 of professional fees, and $24,348 of interest expense, and suffered a net loss of $65,555.

 

Liquidity and Capital Resources

 

At March 31, 2018, the Company had no assets and total liabilities of $1,642,251, comprising $1,598,106 of loans payable to parties related to prior management (including interest accrued thereon) and $44,145 of other accounts payables. At September 30, 2017, the Company’s last fiscal year end, the Company had no assets and total liabilities of $1,594,945, comprising $1,573,758 of loans payable to parties related to prior management (including interest accrued thereon) and $21,187 of other payables.

 

Prior to June 2014, the Company funded its operations from the proceeds of loans received from parties related to prior management. The Company has no present sources of capital or liquidity.

 

We do not expect to engage in any substantive activities unless and until such time as we enter into a business transaction, if ever. We are dependent upon interim funding provided by current management to pay the cost associated with being a public company, among other fees and expenses. Our current management has agreed orally to provide funding as may be required to pay for accounting fees and other administrative expenses of the Company until the Company enters into a business combination. The Company would be unable to continue as a going concern without interim financing provided by management. If we require additional financing, we cannot predict whether equity or debt financing will become available at terms acceptable to us, if at all. The Company depends upon services provided by management to fulfill its filing obligations under the Exchange Act. At present, the Company has no financial resources to pay for such services and may be required to issue stock in lieu of cash or, in the alternative, issue debt instruments evidencing financial obligations if and when they arise. Any funds advanced by management will be advanced as loans that will bear interest at the rate of 8% per year and which shall mature on the closing of a business transaction.

 

During the next twelve months, we anticipate incurring costs related to:

 

 

·

maintaining our corporate existence such as annual fees due to the State of Nevada;

 

 

 

 

·

filing periodic reports under the Exchange Act including filing accounting and legal fees;

 

 

 

 

·

investigating and analyzing business opportunities and possibly consummating a business transaction.

 

These costs are difficult to quantify given the multitude of variables associated with such activities. Our ongoing expenses will result in continued net operating losses that will increase until we can consummate a business combination with a profitable operating company, if ever. We estimate that these costs will be in the range of to six to eight thousand dollars per year, and that we will be able to meet these costs as necessary through the extension of credit advanced to us by management.

 

Going Concern

 

Our negative working capital, continuing operating losses, failure to generate revenues and lack of operating capital create substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on its ability to obtain capital from our affiliates to fund our operations, generate cash from the sale of its securities and attain future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.

 

 
14
 
 

 

Off-Balance Sheet Arrangements

 

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

 

Contractual Obligations

 

As a “smaller reporting company,” as defined by Item 10 of Regulation S-K, the Company is not required to provide the information required by this Item.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

 

Not applicable.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

Disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms and that such information is accumulated and communicated to management, including the Principal Executive Officer and the Principal Financial Officer, to allow timely decisions regarding required disclosures.

 

As of March 31, 2018, the Company had no management or other employees. Accordingly, there were no officers as of the close of such period to perform an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures and internal control over financial reporting. Had there been management in place during the three months ended March 31, 2018 to perform an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Exchange Act Rule 13a-15, we believe that such management would have concluded that the Company’s disclosure controls and procedures were not effective as of March 31, 2018 to ensure that the information required to be disclosed by us in our reports is recorded, processed, summarized and reported within the time periods specified by the SEC as a result of the weakness in our internal controls because there existed a lack of segregation of duties in regard to the Company’s financial reporting, procedures for depositing of funds, procedures for cash disbursements, procedures for checkbook entries, period close procedures, and procedures for financial statement preparation, among other possible weaknesses.

 

A material weakness in ICFR is defined in Section 210.1-02(4) of Regulation S-X promulgated by the SEC as a deficiency, or combination of deficiencies, in ICFR, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in ICFR that is less severe than a material weakness, yet important enough to merit attention by those responsible for oversight of the Company’s financial reporting. As a result of the material weaknesses in the Company’s ICFR, there are increased risks of errors in financial reporting under current operations.

 

Changes in Internal Controls

 

There were no changes in the Company’s internal control over financial reporting (as defined in Rules 13a-15 and 15d-15 under the Exchange Act) during the three months ended March 31, 2018 that would have materially affected, or been reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

 
15
 
 

 

PART II — OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

There are presently no material pending legal proceedings to which the Company is a party or as to which any of its property is subject, and no such proceedings are known to the Company to be threatened or contemplated against it.

 

Item 1A. Risk Factors.

 

As a “smaller reporting company” as defined by Item 10 of Regulation S-K, the Company is not required to provide this information.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

 

None.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosures.

 

N/A

 

Item 5. Other Information.

 

None.

 

 
16
 
 

 

Item 6. Exhibits.

 

Exhibit

 

Description

 

 

31.1

 

Certification of the Company’s Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018.

 

 

31.2

 

Certification of the Company’s Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018.

 

 

32.1*

 

Certification of the Company’s 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.

 

101.INS

 

XBRL Instance Document

 

 

101.SCH

 

XBRL Taxonomy Extension Schema Document

 

 

101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase Document

 

 

 

101.DEF

 

XBRL Taxonomy Extension Definition Linkbase Document

 

 

101.LAB

 

XBRL Taxonomy Extension Label Linkbase Document

 

 

101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase Document

__________

* Pursuant to Commission Release No. 33-8238, this certification will be treated as “accompanying” this Quarterly Report on Form 10-Q and not “filed” as part of such report for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of Section 18 of the Securities Exchange Act of 1934, as amended, and this certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that the registrant specifically incorporates it by reference.

 

 
17
 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

CHINA GRAND RESORTS, INC.

 

 

 

Date: July 12, 2018

By:

/s/ Bryan Glass

 

 

Name:

Bryan Glass

 

 

Title:

President, Principal Executive Officer

and Principal Financial Officer

 

 

 

18

 

EX-31.1 2 cgnd_ex311.htm CERTIFICATION cgnd_ex311.htm

EXHIBIT 31.1

 

CERTIFICATION PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Bryan Glass, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of China Grand Resorts, Inc.;

 

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. As the registrant's sole certifying officer, I am 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 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 my 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 my 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 my 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. As the registrant's sole certifying officer, I have disclosed, based on my 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.

 

 

 

 

 

Date: July 12, 2018

By:

/s/ Bryan Glass

 

Name:

Bryan Glass

 

Title:

President, Principal Executive Officer

 

EX-31.2 3 cgnd_ex312.htm CERTIFICATION doc2.htm

EXHIBIT 31.2

 

CERTIFICATION PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Bryan Glass, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of China Grand Resorts, Inc.;

 

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. As the registrant's sole certifying officer, I am 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 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 my 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 my 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 my 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. As the registrant's sole certifying officer, I have disclosed, based on my 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.

 

 

 

 

 

Date: July 12, 2018

By:

/s/ Bryan Glass

 

Name:

Bryan Glass

 

Title:

Principal Financial Officer

 

EX-32.1 4 cgnd_ex321.htm CERTIFICATION doc3.htm

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 *

 

I, Bryan Glass, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Quarterly Report on Form 10-Q of China Grand Resorts, Inc. for the quarter ended March 31, 2018 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Quarterly Report on Form 10-Q fairly presents in all material respects the financial condition and results of operations of China Grand Resorts, Inc. for such quarter.

 

 

 

Date: July 12, 2018

By:

/s/ Bryan Glass

 

Bryan Glass

 

President, Principal Executive Officer and Principal Financial Officer

___________

* The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

EX-101.INS 5 cgnd-20180331.xml XBRL INSTANCE DOCUMENT 0000860543 2016-09-30 0000860543 2017-10-01 2018-03-31 0000860543 2018-03-31 0000860543 cgnd:BeijingHuaHuiHengyeInvestmentLimitedbMember 2018-03-31 0000860543 cgnd:ProfessionalFeesMember 2018-03-31 0000860543 cgnd:OfficeExpensesMember 2018-03-31 0000860543 cgnd:RedrockCapitalVentureLimitedMember 2009-12-31 0000860543 cgnd:RedrockCapitalVentureLimitedMember 2018-03-31 0000860543 cgnd:BeijingHuaHuiHengyeInvestmentLimitedbMember 2017-10-01 2018-03-31 0000860543 2016-05-05 0000860543 cgnd:ConsultingAgreementMember cgnd:MrBryanGlassMember 2016-05-01 2016-05-06 0000860543 2017-09-30 0000860543 cgnd:MrBryanGlassMember 2016-04-30 0000860543 2018-07-12 0000860543 cgnd:MrBryanGlassMember cgnd:OctoberOneTwoThousandFifteenToSeptemberThirtyTwoThousandSixteenMember 2017-10-01 2018-03-31 0000860543 2017-03-31 0000860543 cgnd:MrBryanGlassMember us-gaap:MajorityShareholderMember 2015-10-01 2018-03-31 0000860543 cgnd:BeijingHuaHuiHengyeInvestmentLimitedbMember 2016-10-01 2017-03-31 0000860543 cgnd:MrBryanGlassMember cgnd:OctoberOneTwoThousandSixteenToSeptemberThirtyTwoThousandSeventeenMember 2017-10-01 2018-03-31 0000860543 2016-10-01 2017-03-31 0000860543 2017-01-01 2017-03-31 0000860543 2018-01-01 2018-03-31 0000860543 cgnd:ProfessionalFeesMember 2017-09-30 0000860543 cgnd:OfficeExpensesMember 2017-09-30 0000860543 cgnd:RedrockCapitalVentureLimitedMember 2017-09-30 0000860543 cgnd:BeijingHuaHuiHengyeInvestmentLimitedbMember 2017-09-30 0000860543 cgnd:MrBryanGlassMember cgnd:OctoberOneTwoThousandSeventeenToMarchThirtyFirstTwoThousandEighteenMember 2017-10-01 2018-03-31 0000860543 cgnd:ConsultingAgreementMember cgnd:MrBryanGlassMember 2016-05-06 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure 10-Q 2018-03-31 false China Grand Resorts, Inc. 0000860543 --09-30 Smaller Reporting Company Yes No No 2018 Q2 5000 -1642251 -1589945 -11803569 -11738013 10128046 10114796 33272 33272 1642251 1594945 44145 21187 5000 5000 1642251 1594945 33272311 33272311 33272311 33272311 24348 12174 12174 24348 12174 12174 -11800000 -11700000 1219814 1119533 100281 100281 1219814 100281 1119533 0.001 0.001 100000000 1750000000 100000000 33272311 33272311 30000000 30000000 33272311 33272311 1989-09-21 Nevada 21187 2000 19187 21187 2000 19187 100000000 10756 378292 378292 353944 Expire through 2030 -0.002 -0.001 -0.000 -0.001 13250 6924 29006 8832 1085 13250 33272311 47305 24348 5000 -13250 -1085 13250 1085 5000 -65555 -25433 -12809 -35289 -65555 -25433 -12809 -35289 -24348 -24348 -12174 -12174 -41207 -1085 -635 -23115 41207 1085 635 23115 38707 1085 635 23115 2500 <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The accompanying financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $11,803,569 and cash used in operations of $13,250 at March 31, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#146;s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These circumstances raise substantial doubt about the Company&#146;s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">To address these aforementioned, Management has undertaken the following initiatives: 1) enter into discussions to secure additional equity funding from current or new shareholders; 2) undertake a program to continue to monitor the Company&#146;s ongoing working capital requirements and minimum expenditure commitments; and 3) continue their focus on maintaining an appropriate level of corporate overhead in line with the Company&#146;s available cash resources.</font></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows the guidance set forth by section 280-10 of the FASB Accounting Standards Codification for reporting and disclosure on operating segments of the Company. It also requires segment disclosures about products and services, geographic areas, and major customers. The Company determined that it did not have any separately reportable operating segments as of March 31, 2018 and March 31, 2017.</font></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other payables prior to the Company being abandoned consist of the following:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31,</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>September 30, 2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Professional Fees</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Office Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">19,187</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">19,187</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Total </font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21,187</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">21,187</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>March 31,</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>September 30,</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Redrock Capital Venture Limited (a)</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td id="ffcell" style="vertical-align: bottom; width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">100,281</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">100,281</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Beijing Hua Hui Hengye Investment Limited (b)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,119,533</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,119,533</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,219,814</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,219,814</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(a)</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(b)</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is authorized to issue 100,000,000 Common Shares at $.001 par value per share.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In April 2016, 30,000,000 shares were issued to new owner, Bryan Glass at par.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total issued and outstanding shares as of March 31, 2018 were 33,272,311.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">To date, the majority shareholder, Bryan Glass contributed $29,006 for expenses and fees to reinstate the Company. This money is booked as a capital contribution.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif"><b>October 1, 2015 to September 30, 2016</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>6,924</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif"><b>October 1, 2016 to September 30, 2017</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>8,832</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif"><b>October 1, 2017 to March 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>13,250</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 22.5pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>29,006</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Amended and Restated Articles of Incorporation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On May 5, 2016, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of the State of Nevada. The principal amendments to the articles of incorporation, as amended through the date of the filing of the Amended and Restated Articles of Incorporation include:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#8226;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">a reduction in the number of shares of common stock that the Company is authorized to issue from 1,750,000,000 shares to 100,000,000 shares;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#8226;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the addition of a class of blank check preferred stock and the grant of authority to designate and issue said class of stock to the board of directors; and</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#8226;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">provisions which require the Company to indemnify its directors and officers to the fullest extent permitted by law.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Related Party Transaction</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On May 6, 2016, the Company entered into a consulting agreement with Bryan Glass pursuant to which it retained Mr. Glass to identify and negotiate with persons or entities with which the Company might enter into a business transaction to create an operating entity, in consideration for which services the Company issued to Mr. Glass 30 million shares of common stock. Mr. Glass has subsequently paid $10,756 on behalf of the Company for the filing and registration fees to the State of Nevada to reinstate the Company to active status.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Amended and Restated Bylaws</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On October 24, 2017, the board of directors of the Company adopted Amended and Restated Bylaws to replace the prior bylaws in their entirety. The Amended and Restated Bylaws are intended to reflect the existing status of Nevada corporate law as of the date of their adoption and replace outdated provisions included in the Company&#146;s original bylaws.</font></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>September 30, 2017</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Professional Fees</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 10%; text-align: right"><font style="font-size: 10pt">2,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 10%; text-align: right"><font style="font-size: 10pt">2,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Office Expenses</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,187</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,187</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; padding-left: 11.25pt"><font style="font-size: 10pt">Total </font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">21,187</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">21,187</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>March 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2018</b></p></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>September 30,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>2017</b></p></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Redrock Capital Venture Limited (a)</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td id="ffcell" style="vertical-align: bottom; width: 10%; text-align: right"><font style="font-size: 10pt">100,281</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 10%; text-align: right"><font style="font-size: 10pt">100,281</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Beijing Hua Hui Hengye Investment Limited (b)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,119,533</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,119,533</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,219,814</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,219,814</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 4%; text-align: justify"><font style="font-size: 10pt">(a)</font></td> <td style="text-align: justify"><font style="font-size: 10pt">From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 4%; text-align: justify"><font style="font-size: 10pt">(b)</font></td> <td style="text-align: justify"><font style="font-size: 10pt">Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.</font></td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt"><b>October 1, 2015 to September 30, 2016</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt"><b>$</b></font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt"><b>6,924</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt"><b>October 1, 2016 to September 30, 2017</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt"><b>$</b></font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>8,832</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt"><b>October 1, 2017 to March 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt"><b>$</b></font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>13,250</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; padding-left: 22.5pt"><font style="font-size: 10pt"><b>Total</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt"><b>$</b></font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt"><b>29,006</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> 0.0435 2478000 2457000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">China Grand Resorts, Inc. (the &#147;Company&#148;) was organized under the laws of the State of Nevada on September 21, 1989 under the name Fulton Ventures, Inc. Effective on November 16, 2009, the name was changed to China Grand Resorts Inc. After the September 30, 2014 10Q filing, the management of the Company abandoned the Company and the subsidiaries were taken back by the PRC national companies in China who owned them. The remaining parent company, China Grand Resorts, Inc. became a dormant company until 2016 when a new shareholder acquired stock to become the majority shareholder and owner of the Company. The Company&#146;s fiscal year end is September 30<sup>th</sup>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Basis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All adjustments have been made which in the opinion of management are necessary for presentation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Interim filings should be read in conjunction with the Company&#146;s annual report as of September 30, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Cash and Cash Equivalents</u>- For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Management&#146;s Use of Estimates</u>- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Revenue Recognition</u>- The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all the following criteria are met:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">persuasive evidence of an arrangement exists,</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the services have been rendered and all required milestones achieved,</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iii)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the sales price is fixed or determinable, and</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iv)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">collectability is reasonably assured.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Comprehensive Income (Loss) </u>- The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Net Income per Common Share</u>- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Deferred Taxes</u>- The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair Value of Financial Instruments</u>- The carrying amounts reported in the balance sheet for cash, accounts receivable and payable approximate fair value based on the short-term maturity of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Accounts Receivable</u>- Accounts deemed uncollectible are written off in the year they become uncollectible. As of March 31, 2018 and September 30, 2017, the balance in Accounts Receivable was $0 and $0, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Impairment of Long-Lived Assets</u>- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Stock-Based Compensation</u>- The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><u>Fair Value for Financial Assets and Financial Liabilities</u>- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (&#147;Paragraph 820-10-35-37&#148;) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 11%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs that are generally unobservable inputs and not corroborated by market data.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#146;s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company&#146;s note payable approximates the fair value of such instrument based upon management&#146;s best estimate of interest rates that would be available to the Company for similar financial arrangement at March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at March 31, 2018, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended March 31, 2018 or March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><u>Recently Issued Accounting Pronouncements</u></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In February 2016, the FASB issued ASU 2016-02, <i>Leases</i>, amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective in the first quarter of 2019 and allows for early adoption. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In August 2016, the FASB issued ASU 2016-15, <i>Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)</i>, that clarifies how certain cash receipts and cash payments should be classified on the statement of cash flows. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company does not expect there to be a material impact from adopting this new guidance.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which revises the definition of a business and assists in the evaluation of when a set of transferred assets and activities is a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted under certain circumstances. The Company does not expect the adoption of this guidance will have a material impact on its financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. We currently anticipate that the adoption of ASU 2017-04 will not have a material impact on our financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation: Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment awarded require an entity to apply modification accounting. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in ASU 2017-09 are to be applied prospectively to an award modified on or after the adoption date; consequently, the impact will be dependent on whether we modify any share-based payment awards and the nature of such modifications. The adoption of this standard is not expected to have a material impact on our financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company provides for income taxes under (now included under Accounting Standards Codification (ASC), 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss as of March 31, 2018 is approximately $11,800,000 and as of March 31, 2017 is $11,700,000 approximately. The total deferred tax asset is approximately $2,478,000 and $2,457,000 for the periods March 31, 2018 and March 31, 2017, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">No tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is not obligated to pay state income taxes because it is a Nevada corporation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All adjustments have been made which in the opinion of management are necessary for presentation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Interim filings should be read in conjunction with the Company&#146;s annual report as of September 30, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all the following criteria are met:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; width: 4%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(i)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">persuasive evidence of an arrangement exists,</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(ii)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the services have been rendered and all required milestones achieved,</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iii)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">the sales price is fixed or determinable, and</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">(iv)</font></td> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">collectability is reasonably assured.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts reported in the balance sheet for cash, accounts receivable and payable approximate fair value based on the short-term maturity of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accounts deemed uncollectible are written off in the year they become uncollectible. As of March 31, 2018 and September 30, 2017, the balance in Accounts Receivable was $0 and $0, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (&#147;Paragraph 820-10-35-37&#148;) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 11%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 1</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 2</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Level 3</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Pricing inputs that are generally unobservable inputs and not corroborated by market data.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#146;s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company&#146;s note payable approximates the fair value of such instrument based upon management&#146;s best estimate of interest rates that would be available to the Company for similar financial arrangement at March 31, 2018 and March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at March 31, 2018, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended March 31, 2018 or March 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In February 2016, the FASB issued ASU 2016-02, <i>Leases</i>, amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective in the first quarter of 2019 and allows for early adoption. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In August 2016, the FASB issued ASU 2016-15, <i>Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)</i>, that clarifies how certain cash receipts and cash payments should be classified on the statement of cash flows. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company does not expect there to be a material impact from adopting this new guidance.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which revises the definition of a business and assists in the evaluation of when a set of transferred assets and activities is a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted under certain circumstances. The Company does not expect the adoption of this guidance will have a material impact on its financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. We currently anticipate that the adoption of ASU 2017-04 will not have a material impact on our financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation: Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment awarded require an entity to apply modification accounting. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in ASU 2017-09 are to be applied prospectively to an award modified on or after the adoption date; consequently, the impact will be dependent on whether we modify any share-based payment awards and the nature of such modifications. The adoption of this standard is not expected to have a material impact on our financial statements.</font></p> (a)From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018. (b)Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor. EX-101.SCH 6 cgnd-20180331.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - BUSINESS ACTIVITY link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - GOING CONCERN link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - SEGMENT REPORTING link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - EQUITY link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - INCOME TAX link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - MATERIAL EVENTS link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED (Tables) link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Tables) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - EQUITY (Tables) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - BUSINESS ACTIVITY (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - GOING CONCERN (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED (Details) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Details) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - EQUITY (Details) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - EQUITY (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - INCOME TAX (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - MATERIAL EVENTS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 cgnd-20180331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 8 cgnd-20180331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 9 cgnd-20180331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Related Party [Axis] Beijing Hua Hui Hengye Investment Limited [Member] Extinguishment of Debt [Axis] Professional Fees [Member] Office Expenses [Member] Redrock Capital Venture Limited [Member] Segments [Axis] Consulting Agreement [Member] Mr. Bryan Glass [Member] Report Date [Axis] October 1, 2015 to September 30, 2016 [Member] Short-term Debt, Type [Axis] Majority Shareholder [Member] October 1, 2016 to September 30, 2017 [Member] October 1, 2017 to March 31, 2018 [Member] Document and Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Balance Sheets CURRENT ASSETS Cash Prepaid Expenses TOTAL CURRENT ASSETS TOTAL OTHER ASSETS TOTAL ASSETS LIABILITIES CURRENT LIABILTIES Accounts Payable Accrued Interest on Loans from Related Parties Loan from Related Parties TOTAL CURRENT LIABILTIES TOTAL LIABILITIES Commitments and Contingencies STOCKHOLDERS' EQUITY Common stock ($0.001 par value; 100,000,000 shares authorized; 33,272,311 shares issued and outstanding at March 31, 2018 and September 30, 2017) Additional Paid in Capital Accumulated Deficit TOTAL STOCKHOLDER'S EQUITY (DEFICIT) TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) Common Stock, shares par value Common Stock, shares authorized Common Stock, shares issued Common Stock, shares outstanding Statements Of Operations Sales Total Revenue EXPENSES: Selling, General and Administrative Professional Fees Total Expense Loss from operations OTHER INCOME/(EXPENSES): Interest Income Interest Expense Total Other Net Income/(Expense) Loss Before Income tax Provision for Income Taxes Net Income/(Loss) Weighted average common shares outstanding, basic and diluted Basic and fully diluted net loss per common share: Net Income/(Loss) Statements Of Cash Flows CASH FLOWS FROM OPERATING ACTIVITIES: Net loss Adjustments to reconcile net (loss) to net cash provided by (used in) operations: Changes in Assets and Liabilities: Increase (decrease) in Prepaid Expense Increase (decrease) in Accounts Payable and Other Accruals NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES FINANCING ACTIVITIES Capital Contributions NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS, END OF THE PERIOD SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: CASH PAID DURING THE PERIOD FOR: Interest CASH PAID DURING THE PERIOD FOR: Taxes Notes to Financial Statements NOTE A - BUSINESS ACTIVITY NOTE B - GOING CONCERN NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE D - SEGMENT REPORTING NOTE E - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED NOTE F - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED NOTE G - EQUITY NOTE H - INCOME TAX NOTE I - MATERIAL EVENTS Summary Of Significant Accounting Policies Basis of Presentation Cash and Cash Equivalents Managements Use of Estimates Revenue Recognition Comprehensive Income (Loss) Net Income per Common Share Deferred Taxes Fair Value of Financial Instruments Accounts Receivable Impairment of Long-Lived Assets Stock-Based Compensation Fair Value for Financial Assets and Financial Liabilities Recently Issued Accounting Pronouncements Accounts Payable Prior To Company Being Abandoned Other payables Related Party Transactions Prior To Company Being Abandoned Related Party Transactions Equity Capital contribution Business Activity State of Incorporation Date of Incorporation Going Concern NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES Statement [Table] Statement [Line Items] Other payables Accrued interest Interest rate Interest expenses Income Tax Net operating loss carry forwards expiration date description Net operating loss Deferred tax asset Subsequent Event Type [Axis] Amendment to common stock shares authorized, reduced shares Filing and registration fees paid by related party Assets, Current Assets Liabilities, Current Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity Revenues Operating Expenses Operating Income (Loss) Interest and Debt Expense Nonoperating Income (Expense) Net Cash Provided by (Used in) Financing Activities Accounts Payable, Other, Current EX-101.PRE 10 cgnd-20180331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - shares
6 Months Ended
Mar. 31, 2018
Jul. 12, 2018
Document and Entity Information    
Entity Registrant Name China Grand Resorts, Inc.  
Entity Central Index Key 0000860543  
Document Type 10-Q  
Document Period End Date Mar. 31, 2018  
Amendment Flag false  
Current Fiscal Year End Date --09-30  
Entity Well-known Seasoned Issuer No  
Entity Voluntary Filers No  
Entity Current Reporting Status Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   33,272,311
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2018  
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Balance Sheets - USD ($)
Mar. 31, 2018
Sep. 30, 2017
CURRENT ASSETS    
Cash
Prepaid Expenses 5,000
TOTAL CURRENT ASSETS 5,000
TOTAL OTHER ASSETS
TOTAL ASSETS 5,000
CURRENT LIABILTIES    
Accounts Payable 44,145 21,187
Accrued Interest on Loans from Related Parties 378,292 353,944
Loan from Related Parties 1,219,814 1,219,814
TOTAL CURRENT LIABILTIES 1,642,251 1,594,945
TOTAL LIABILITIES 1,642,251 1,594,945
Commitments and Contingencies
STOCKHOLDERS' EQUITY    
Common stock ($0.001 par value; 100,000,000 shares authorized; 33,272,311 shares issued and outstanding at March 31, 2018 and September 30, 2017) 33,272 33,272
Additional Paid in Capital 10,128,046 10,114,796
Accumulated Deficit (11,803,569) (11,738,013)
TOTAL STOCKHOLDER'S EQUITY (DEFICIT) (1,642,251) (1,589,945)
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY/(DEFICIT) $ 5,000
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Balance Sheets (Parenthetical) - $ / shares
Mar. 31, 2018
Sep. 30, 2017
May 05, 2016
STOCKHOLDERS' EQUITY      
Common Stock, shares par value $ 0.001 $ 0.001  
Common Stock, shares authorized 100,000,000 100,000,000 1,750,000,000
Common Stock, shares issued 33,272,311 33,272,311  
Common Stock, shares outstanding 33,272,311 33,272,311  
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Statements Of Operations        
Sales
Total Revenue
EXPENSES:        
Selling, General and Administrative 2,500
Professional Fees 23,115 635 38,707 1,085
Total Expense 23,115 635 41,207 1,085
Loss from operations (23,115) (635) (41,207) (1,085)
OTHER INCOME/(EXPENSES):        
Interest Income
Interest Expense (12,174) (12,174) (24,348) (24,348)
Total Other Net Income/(Expense) (12,174) (12,174) (24,348) (24,348)
Loss Before Income tax (35,289) (12,809) (65,555) (25,433)
Provision for Income Taxes
Net Income/(Loss) $ (35,289) $ (12,809) $ (65,555) $ (25,433)
Weighted average common shares outstanding, basic and diluted 33,272,311 33,272,311 33,272,311 33,272,311
Basic and fully diluted net loss per common share:        
Net Income/(Loss) $ (0.001) $ (0.000) $ (0.002) $ (0.001)
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (65,555) $ (25,433)
Changes in Assets and Liabilities:    
Increase (decrease) in Prepaid Expense 5,000
Increase (decrease) in Accounts Payable and Other Accruals 47,305 24,348
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (13,250) (1,085)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
FINANCING ACTIVITIES    
Capital Contributions 13,250 1,085
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 13,250 1,085
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
CASH AND CASH EQUIVALENTS, END OF THE PERIOD
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
CASH PAID DURING THE PERIOD FOR: Interest
CASH PAID DURING THE PERIOD FOR: Taxes
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
BUSINESS ACTIVITY
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE A - BUSINESS ACTIVITY

China Grand Resorts, Inc. (the “Company”) was organized under the laws of the State of Nevada on September 21, 1989 under the name Fulton Ventures, Inc. Effective on November 16, 2009, the name was changed to China Grand Resorts Inc. After the September 30, 2014 10Q filing, the management of the Company abandoned the Company and the subsidiaries were taken back by the PRC national companies in China who owned them. The remaining parent company, China Grand Resorts, Inc. became a dormant company until 2016 when a new shareholder acquired stock to become the majority shareholder and owner of the Company. The Company’s fiscal year end is September 30th.

XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
GOING CONCERN
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE B - GOING CONCERN

The accompanying financial statements have been prepared on a going concern basis, which assumes the Company will realize its assets and discharge its liabilities in the normal course of business. As reflected in the accompanying financial statements, the Company has a deficit accumulated of $11,803,569 and cash used in operations of $13,250 at March 31, 2018.

 

The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might arise because of this uncertainty.

 

To address these aforementioned, Management has undertaken the following initiatives: 1) enter into discussions to secure additional equity funding from current or new shareholders; 2) undertake a program to continue to monitor the Company’s ongoing working capital requirements and minimum expenditure commitments; and 3) continue their focus on maintaining an appropriate level of corporate overhead in line with the Company’s available cash resources.

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUMMARIES OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation- The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP).

 

All adjustments have been made which in the opinion of management are necessary for presentation.

 

Interim filings should be read in conjunction with the Company’s annual report as of September 30, 2017.

 

Cash and Cash Equivalents- For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.

 

Management’s Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The financial statements above reflect all of the costs of doing business.

 

Revenue Recognition- The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all the following criteria are met:

 

  (i) persuasive evidence of an arrangement exists,
  (ii) the services have been rendered and all required milestones achieved,
  (iii) the sales price is fixed or determinable, and
  (iv) collectability is reasonably assured.

 

Comprehensive Income (Loss) - The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.

 

Net Income per Common Share- Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of March 31, 2018 and March 31, 2017.

 

Deferred Taxes- The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

 

Fair Value of Financial Instruments- The carrying amounts reported in the balance sheet for cash, accounts receivable and payable approximate fair value based on the short-term maturity of these instruments.

 

Accounts Receivable- Accounts deemed uncollectible are written off in the year they become uncollectible. As of March 31, 2018 and September 30, 2017, the balance in Accounts Receivable was $0 and $0, respectively.

 

Impairment of Long-Lived Assets- The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended March 31, 2018 and March 31, 2017.

 

Stock-Based Compensation- The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

 

Fair Value for Financial Assets and Financial Liabilities- The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

 

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
   
Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
   
Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data.

 

The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at March 31, 2018 and March 31, 2017.

 

The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at March 31, 2018, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended March 31, 2018 or March 31, 2017.

 

Recently Issued Accounting Pronouncements

 

In February 2016, the FASB issued ASU 2016-02, Leases, amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective in the first quarter of 2019 and allows for early adoption. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations.

 

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), that clarifies how certain cash receipts and cash payments should be classified on the statement of cash flows. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company does not expect there to be a material impact from adopting this new guidance.

 

In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which revises the definition of a business and assists in the evaluation of when a set of transferred assets and activities is a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted under certain circumstances. The Company does not expect the adoption of this guidance will have a material impact on its financial statements.

 

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. We currently anticipate that the adoption of ASU 2017-04 will not have a material impact on our financial statements.

 

In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation: Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment awarded require an entity to apply modification accounting. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in ASU 2017-09 are to be applied prospectively to an award modified on or after the adoption date; consequently, the impact will be dependent on whether we modify any share-based payment awards and the nature of such modifications. The adoption of this standard is not expected to have a material impact on our financial statements.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENT REPORTING
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE D - SEGMENT REPORTING

The Company follows the guidance set forth by section 280-10 of the FASB Accounting Standards Codification for reporting and disclosure on operating segments of the Company. It also requires segment disclosures about products and services, geographic areas, and major customers. The Company determined that it did not have any separately reportable operating segments as of March 31, 2018 and March 31, 2017.

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE E - ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED

Other payables prior to the Company being abandoned consist of the following:

 

   

March 31,

2018

    September 30, 2017  
Professional Fees   $ 2,000     $ 2,000  
Office Expenses   $ 19,187     $ 19,187  
Total   $ 21,187     $ 21,187  

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE F - RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED

   

March 31,

2018

   

September 30,

2017

 
Redrock Capital Venture Limited (a)     100,281     $ 100,281  
Beijing Hua Hui Hengye Investment Limited (b)     1,119,533       1,119,533  
Total   $ 1,219,814     $ 1,219,814  

 

(a) From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.

 

(b) Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE G - EQUITY

The Company is authorized to issue 100,000,000 Common Shares at $.001 par value per share.

 

In April 2016, 30,000,000 shares were issued to new owner, Bryan Glass at par.

 

Total issued and outstanding shares as of March 31, 2018 were 33,272,311.

 

To date, the majority shareholder, Bryan Glass contributed $29,006 for expenses and fees to reinstate the Company. This money is booked as a capital contribution.

 

October 1, 2015 to September 30, 2016   $ 6,924  
October 1, 2016 to September 30, 2017   $ 8,832  
October 1, 2017 to March 31, 2018   $ 13,250  
Total   $ 29,006  

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
INCOME TAX
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE H - INCOME TAX

The Company provides for income taxes under (now included under Accounting Standards Codification (ASC), 740), Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.

 

ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all the deferred tax assets will not be realized. For Federal income tax purposes, the Company has net operating loss carry forwards that expire through 2030. The net operating loss as of March 31, 2018 is approximately $11,800,000 and as of March 31, 2017 is $11,700,000 approximately. The total deferred tax asset is approximately $2,478,000 and $2,457,000 for the periods March 31, 2018 and March 31, 2017, respectively.

 

No tax benefit has been reported in the financial statements because after evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited.

 

The Company is not obligated to pay state income taxes because it is a Nevada corporation.

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
MATERIAL EVENTS
6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
NOTE I - MATERIAL EVENTS

Amended and Restated Articles of Incorporation

 

On May 5, 2016, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of the State of Nevada. The principal amendments to the articles of incorporation, as amended through the date of the filing of the Amended and Restated Articles of Incorporation include:

 

  a reduction in the number of shares of common stock that the Company is authorized to issue from 1,750,000,000 shares to 100,000,000 shares;
     
  the addition of a class of blank check preferred stock and the grant of authority to designate and issue said class of stock to the board of directors; and
     
  provisions which require the Company to indemnify its directors and officers to the fullest extent permitted by law.

 

Related Party Transaction

 

On May 6, 2016, the Company entered into a consulting agreement with Bryan Glass pursuant to which it retained Mr. Glass to identify and negotiate with persons or entities with which the Company might enter into a business transaction to create an operating entity, in consideration for which services the Company issued to Mr. Glass 30 million shares of common stock. Mr. Glass has subsequently paid $10,756 on behalf of the Company for the filing and registration fees to the State of Nevada to reinstate the Company to active status.

 

Amended and Restated Bylaws

 

On October 24, 2017, the board of directors of the Company adopted Amended and Restated Bylaws to replace the prior bylaws in their entirety. The Amended and Restated Bylaws are intended to reflect the existing status of Nevada corporate law as of the date of their adoption and replace outdated provisions included in the Company’s original bylaws.

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Mar. 31, 2018
Summary Of Significant Accounting Policies  
Basis of Presentation

The financial statements included herein were prepared under Generally Accepted Accounting Principles (GAAP).

 

All adjustments have been made which in the opinion of management are necessary for presentation.

 

Interim filings should be read in conjunction with the Company’s annual report as of September 30, 2017.

Cash and Cash Equivalents

For purposes of the Statement of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.

Managements Use of Estimates

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

Revenue Recognition

The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all the following criteria are met:

 

  (i) persuasive evidence of an arrangement exists,
  (ii) the services have been rendered and all required milestones achieved,
  (iii) the sales price is fixed or determinable, and
  (iv) collectability is reasonably assured.

Comprehensive Income (Loss)

The Company reports Comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the period covered in the financial statements.

Net Income per Common Share

Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. There were no potentially dilutive shares outstanding as of March 31, 2018 and March 31, 2017.

Deferred Taxes

The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

Fair Value of Financial Instruments

The carrying amounts reported in the balance sheet for cash, accounts receivable and payable approximate fair value based on the short-term maturity of these instruments.

Accounts Receivable

Accounts deemed uncollectible are written off in the year they become uncollectible. As of March 31, 2018 and September 30, 2017, the balance in Accounts Receivable was $0 and $0, respectively.

Impairment of Long-Lived Assets

The Company evaluates the recoverability of its fixed assets and other assets in accordance with section 360-10-15 of the FASB Accounting Standards Codification for disclosures about Impairment or Disposal of Long-Lived Assets. Disclosure requires recognition of impairment of long-lived assets in the event the net book value of such assets exceeds its expected cash flows. If so, it is considered to be impaired and is written down to fair value, which is determined based on either discounted future cash flows or appraised values. The Company adopted the statement on inception. No impairments of these types of assets were recognized during the periods ended March 31, 2018 and March 31, 2017.

Stock-Based Compensation

The Company accounts for stock-based compensation using the fair value method following the guidance set forth in section 718-10 of the FASB Accounting Standards Codification for disclosure about Stock-Based Compensation. This section requires a public entity to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award (with limited exceptions). That cost will be recognized over the period during which an employee is required to provide service in exchange for the award- the requisite service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the requisite service.

Fair Value for Financial Assets and Financial Liabilities

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

 

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
   
Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
   
Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data.

 

The carrying amounts of the Company’s financial assets and liabilities, such as cash and accrued expenses, approximate their fair values because of the short maturity of these instruments. The Company’s note payable approximates the fair value of such instrument based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangement at March 31, 2018 and March 31, 2017.

 

The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for assets and liabilities measured at fair value at March 31, 2018, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the periods ended March 31, 2018 or March 31, 2017.

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases, amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective in the first quarter of 2019 and allows for early adoption. The Company is assessing whether the new standard will have a material effect on its financial position or results of operations.

 

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force), that clarifies how certain cash receipts and cash payments should be classified on the statement of cash flows. This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The guidance is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted. The Company does not expect there to be a material impact from adopting this new guidance.

 

In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which revises the definition of a business and assists in the evaluation of when a set of transferred assets and activities is a business. ASU 2017-01 is effective for interim and annual reporting periods beginning after December 15, 2017 and should be applied prospectively. Early adoption is permitted under certain circumstances. The Company does not expect the adoption of this guidance will have a material impact on its financial statements.

 

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment. ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. ASU 2017-04 is effective for annual or interim goodwill impairment tests performed in fiscal years beginning after December 15, 2019; early adoption is permitted. We currently anticipate that the adoption of ASU 2017-04 will not have a material impact on our financial statements.

 

In May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation: Scope of Modification Accounting, which provides guidance about which changes to the terms or conditions of a share-based payment awarded require an entity to apply modification accounting. ASU 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted. The amendments in ASU 2017-09 are to be applied prospectively to an award modified on or after the adoption date; consequently, the impact will be dependent on whether we modify any share-based payment awards and the nature of such modifications. The adoption of this standard is not expected to have a material impact on our financial statements.

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED (Tables)
6 Months Ended
Mar. 31, 2018
Accounts Payable Prior To Company Being Abandoned  
Other payables

   

March 31,

2018

    September 30, 2017  
Professional Fees   $ 2,000     $ 2,000  
Office Expenses   $ 19,187     $ 19,187  
Total   $ 21,187     $ 21,187  

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Tables)
6 Months Ended
Mar. 31, 2018
Related Party Transactions Prior To Company Being Abandoned  
Related Party Transactions

   

March 31,

2018

   

September 30,

2017

 
Redrock Capital Venture Limited (a)     100,281     $ 100,281  
Beijing Hua Hui Hengye Investment Limited (b)     1,119,533       1,119,533  
Total   $ 1,219,814     $ 1,219,814  

 

(a) From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.

  

(b) Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY (Tables)
6 Months Ended
Mar. 31, 2018
Equity  
Capital contribution

October 1, 2015 to September 30, 2016   $ 6,924  
October 1, 2016 to September 30, 2017   $ 8,832  
October 1, 2017 to March 31, 2018   $ 13,250  
Total   $ 29,006  

XML 29 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
BUSINESS ACTIVITY (Details Narrative)
6 Months Ended
Mar. 31, 2018
Business Activity  
State of Incorporation Nevada
Date of Incorporation Sep. 21, 1989
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
GOING CONCERN (Details Narrative) - USD ($)
6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Sep. 30, 2017
Going Concern      
Accumulated Deficit $ (11,803,569)   $ (11,738,013)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES $ (13,250) $ (1,085)  
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
ACCOUNTS PAYABLE PRIOR TO COMPANY BEING ABANDONED (Details) - USD ($)
Mar. 31, 2018
Sep. 30, 2017
Other payables $ 21,187 $ 21,187
Professional Fees [Member]    
Other payables 2,000 2,000
Office Expenses [Member]    
Other payables $ 19,187 $ 19,187
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Details) - USD ($)
Mar. 31, 2018
Sep. 30, 2017
Dec. 31, 2009
Loan from Related Parties $ 1,219,814 $ 1,219,814  
Redrock Capital Venture Limited [Member]      
Loan from Related Parties [1] 100,281 100,281 $ 100,281
Beijing Hua Hui Hengye Investment Limited [Member]      
Loan from Related Parties [2] $ 1,119,533 $ 1,119,533  
[1] (a)From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.
[2] (b)Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
RELATED PARTY TRANSACTIONS PRIOR TO COMPANY BEING ABANDONED (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Sep. 30, 2017
Dec. 31, 2009
Loan from Related Parties $ 1,219,814   $ 1,219,814   $ 1,219,814  
Accrued interest 378,292   378,292   353,944  
Interest expenses (12,174) $ (12,174) (24,348) $ (24,348)    
Redrock Capital Venture Limited [Member]            
Loan from Related Parties [1] 100,281   100,281   100,281 $ 100,281
Beijing Hua Hui Hengye Investment Limited [Member]            
Loan from Related Parties [2] 1,119,533   1,119,533   $ 1,119,533  
Accrued interest $ 378,292   $ 378,292      
Interest rate 4.35%   4.35%      
Interest expenses     $ (12,174) $ (12,174)    
[1] (a)From June 2009 through December 2009, the Company received loans from Redrock Capital Venture Limited for working capital purpose. The loans are unsecured, due on demand and without formal written loan agreements. The loans amounted to $100,281 as of December 31, 2009 and remained the same amount as of March 31, 2018.
[2] (b)Commencing in October 2009, the Company began receiving loans from time to time from Hua Hui, our largest shareholder at the time, for working capital purposes. As of March 31, 2018, the amount due to Hua Hui is $1,119,533, which is due on demand and bears interest at the prevailing rate charged by the PRC Central Bank. The interest accrued as of March 31, 2018 amounted to approximately $378,292 and the interest rate of the loans was 4.35%. Interest accrued for the three months ended March 31, 2018 and March 31, 2017 was $12,174 and $12,174, respectively. The agreements for the aforementioned loans are not formal agreements and current management has obtained the interest rates from the prior filings. Management will continue to accrue interest until any applicable statute of limitations has passed and the Company has received a legal opinion stating that the collectability actions are no longer available to the creditor.
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY (Details) - USD ($)
6 Months Ended 30 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Capital Contributions $ 13,250 $ 1,085  
Mr. Bryan Glass [Member] | Majority Shareholder [Member]      
Capital Contributions     $ 29,006
Mr. Bryan Glass [Member] | October 1, 2015 to September 30, 2016 [Member]      
Capital Contributions 6,924    
Mr. Bryan Glass [Member] | October 1, 2016 to September 30, 2017 [Member]      
Capital Contributions 8,832    
Mr. Bryan Glass [Member] | October 1, 2017 to March 31, 2018 [Member]      
Capital Contributions $ 13,250    
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY (Details Narrative) - USD ($)
6 Months Ended 30 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Sep. 30, 2017
May 05, 2016
Apr. 30, 2016
Common Stock, shares par value $ 0.001   $ 0.001 $ 0.001    
Common Stock, shares authorized 100,000,000   100,000,000 100,000,000 1,750,000,000  
Common Stock, shares issued 33,272,311   33,272,311 33,272,311    
Common Stock, shares outstanding 33,272,311   33,272,311 33,272,311    
Capital Contributions $ 13,250 $ 1,085        
Mr. Bryan Glass [Member]            
Common Stock, shares issued           30,000,000
Mr. Bryan Glass [Member] | Majority Shareholder [Member]            
Capital Contributions     $ 29,006      
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
INCOME TAX (Details Narrative) - USD ($)
6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Tax    
Net operating loss carry forwards expiration date description Expire through 2030  
Net operating loss $ (11,800,000) $ (11,700,000)
Deferred tax asset $ 2,478,000 $ 2,457,000
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
MATERIAL EVENTS (Details Narrative) - USD ($)
May 06, 2016
Mar. 31, 2018
Sep. 30, 2017
May 05, 2016
Apr. 30, 2016
Common Stock, shares authorized   100,000,000 100,000,000 1,750,000,000  
Amendment to common stock shares authorized, reduced shares       100,000,000  
Common Stock, shares issued   33,272,311 33,272,311    
Mr. Bryan Glass [Member]          
Common Stock, shares issued         30,000,000
Mr. Bryan Glass [Member] | Consulting Agreement [Member]          
Filing and registration fees paid by related party $ 10,756        
Common Stock, shares issued 30,000,000        
EXCEL 38 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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