Yinfu Gold Corp. - 10-Q filing on 2016-07-08

ORGANIZATION AND DESCRIPTION OF BUSINESS	3 Months Ended
Jun. 30, 2014
Notes to Financial Statements
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS	Yinfu Gold Corporation (the "Company") is a Wyoming corporation incorporated on September 1, 2005under the name Ace Lock and Security, Inc. and established a fiscal year at the end of March 31. Yinfu GoldCorporation (formerly known as "Element92 Resources Corp.") was originally incorporated under the laws of theState of Wyoming as Ace Lock & Security, Inc. On March 5, 2007, we filed a Certificate of Amendment with theWyoming Secretary of State to change our name to Element92 Resources Corp. and increased our authorized capital to1,000,000,000 common shares. On November 18, 2010, the Company received a notification from the FinancialIndustry Regulatory Authority ("FINRA") that the Company's change of name from Element92 Resources Corp. toYinfu Gold Corporation was posted as effective with FINRA. The Company was established as anexploration stage company engaged in the search for commercially viable minerals. We no longer pursue opportunities related to the exploration of minerals. Our name change toYinfu GoldCorporation, as filed with theState of Wyoming on November 18, 2010,signified that we have commenced working toward a major change in our business plan and business model. Effective November 20, 2014, the Company executed a Sale and Purchase Agreement (the "Agreement") to acquire 100% of the shares and assets of China Enterprise Overseas Investment & Finance Group Limited, a British Virgin Islands corporation ("CEI"). Pursuant to the Agreement, the Company has agreed to issue 800 million restricted common shares of the Company tothe owners of CEI. Dahua Online Shopping Mall (http://www.dahuacheng.com) is an online shopping platform in the China market with two mainstream e-commerce models: business to business (B2B) and business to consumer (B2C). There are over 3,000 suppliers all over the China to provide an online listing of millions of commodities. The real-time payment system of Dahua is convenient, safe and fast. Dahua Online Shopping Mall has registered 31 million members as of November 17, 2014. Pursuant to the Agreement, on or before January 1,2015, CEI was to deliver to the Company, duly authorized, properly and fully executed documents in English, evidencing and confirming the sale of 100% of the shares of CEI and its assets specifically detailing the assets and an asset valuation by a third-party valuator. The valuation report was received by the Company on January 28, 2015. Additionally, the Agreement stated that both parties have agreed that all shares issued, pursuant to the terms and conditions of this agreement, shall be issued as soon as practicable following the signing of this agreement, but all shares so issued shall be held in escrow until all terms and conditions are met. As of the date of this filing, the various terms and conditions of the Agreement have been fulfilled on January 28, 2015, therefore, the share certificates representing the shares have been issued in the names of the CEI shareholders and the Agreement between the Company and CEI was closed on January 28, 2015.

ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Jun. 30, 2014

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Yinfu Gold Corporation (the "Company") is a Wyoming corporation incorporated on September 1, 2005under the name Ace Lock and Security, Inc. and established a fiscal year at the end of March 31. Yinfu GoldCorporation (formerly known as "Element92 Resources Corp.") was originally incorporated under the laws of theState of Wyoming as Ace Lock & Security, Inc. On March 5, 2007, we filed a Certificate of Amendment with theWyoming Secretary of State to change our name to Element92 Resources Corp. and increased our authorized capital to1,000,000,000 common shares. On November 18, 2010, the Company received a notification from the FinancialIndustry Regulatory Authority ("FINRA") that the Company's change of name from Element92 Resources Corp. toYinfu Gold Corporation was posted as effective with FINRA. The Company was established as anexploration stage company engaged in the search for commercially viable minerals.

We no longer pursue opportunities related to the exploration of minerals. Our name change toYinfu GoldCorporation, as filed with theState of Wyoming on November 18, 2010,signified that we have commenced working toward a major change in our business plan and business model.

Effective November 20, 2014, the Company executed a Sale and Purchase Agreement (the "Agreement") to acquire 100% of the shares and assets of China Enterprise Overseas Investment & Finance Group Limited, a British Virgin Islands corporation ("CEI"). Pursuant to the Agreement, the Company has agreed to issue 800 million restricted common shares of the Company tothe owners of CEI.

Dahua Online Shopping Mall (http://www.dahuacheng.com) is an online shopping platform in the China market with two mainstream e-commerce models: business to business (B2B) and business to consumer (B2C). There are over 3,000 suppliers all over the China to provide an online listing of millions of commodities. The real-time payment system of Dahua is convenient, safe and fast.

Dahua Online Shopping Mall has registered 31 million members as of November 17, 2014.

Pursuant to the Agreement, on or before January 1,2015, CEI was to deliver to the Company, duly authorized, properly and fully executed documents in English, evidencing and confirming the sale of 100% of the shares of CEI and its assets specifically detailing the assets and an asset valuation by a third-party valuator. The valuation report was received by the Company on January 28, 2015.

Additionally, the Agreement stated that both parties have agreed that all shares issued, pursuant to the terms and conditions of this agreement, shall be issued as soon as practicable following the signing of this agreement, but all shares so issued shall be held in escrow until all terms and conditions are met.

As of the date of this filing, the various terms and conditions of the Agreement have been fulfilled on January 28, 2015, therefore, the share certificates representing the shares have been issued in the names of the CEI shareholders and the Agreement between the Company and CEI was closed on January 28, 2015.