Consolidated Statements of Cash Flow (Unaudited) - USD ($)
|
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
| Net loss |
$ (1,474,642)
|
$ (1,223,868)
|
| Depreciation and amortization |
$ 9,972
|
|
| Stock compensation |
|
$ 600,000
|
| Adjustments to reconcile net loss to net cash provided by operating activities and changes in operating assets and liabilities: |
|
|
| (Increase)/decrease in accounts receivable |
$ (6,163)
|
|
| (Increase)/decrease in other receivable |
325,812
|
$ (325,812)
|
| (Increase)/decrease in related party receivable |
88,396
|
$ (1,630,352)
|
| (Increase)/decrease in prepaid expenses |
(7,822)
|
|
| Increase/(decrease) in accounts payable |
(130,883)
|
$ 315,746
|
| Increase/(decrease) in accrued liabilities |
(224,861)
|
91,646
|
| Increase/(decrease) in other payable |
(16,635)
|
324,000
|
| Increase/(decrease) in related party advances |
559,434
|
332,697
|
| Increase/(decrease) in taxes payable |
512,866
|
(12,377)
|
| Net cash used in operating activities |
(364,526)
|
(1,528,320)
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
| Increase in investments |
(1,367)
|
$ (29,146)
|
| Purchase intangible asset |
(1,325)
|
|
| Increase in deposits |
(9,700)
|
|
| Net cash generated from investing activities |
(12,392)
|
$ (29,146)
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
| Issuance of stock for cash |
$ 500,000
|
|
| Capital injection into operating subsidiary prior to reverse takeover |
|
$ 1,629,064
|
| Net cash generated from financing activities |
$ 500,000
|
1,629,064
|
| Net increase in cash and cash equivalents |
123,082
|
71,598
|
| Effect of foreign currency translation on cash and cash equivalents |
(53,050)
|
$ (193)
|
| Cash and cash equivalents, beginning balance |
71,405
|
|
| Cash and cash equivalents, ending balance |
141,437
|
$ 71,405
|
| SUPPLEMENTAL DISCLOSURES: |
|
|
| Interest received |
176
|
$ 234
|
| Interest paid |
$ 2,271
|
|
| Income tax paid |
|
$ 11,559
|