UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,

Washington, D.C. 20549

_______________
FORM

Form 10-Q

_______________
xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2010
oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

(Mark One)

☒  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED:  March 31, 2019

☐  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 

For the transition period from __________

to __________

Commission File Number: ________________

SHENTANG INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

SHENTANG INTERNATIONAL, INC.
 (Exact name of registrant as specified in Charter)
Nevada 333-14854547-0925451

(State or other jurisdiction of

incorporation or organization)

 (Commission File No.)(IRS Employee I.R.S. Employer
Identification No.)

7/F Shenping Liyuan Bldg, 3 Longcheng BeiLu, Longgang Central City,
Longgang District, Shenzhen 518116, People’s Republic of China

3445 Lawrence Ave., Oceanside, NY 11572

 (Address of Principal Executive Offices)

 _______________

(206) 202-3226
 (Issuer Telephone number)
_______________

 (Former Name or principal executive offices, Zip Code)

(310) 734-2626

(Registrant’s telephone number, including area code)

(Former Addressname, former address and former fiscal year, if Changed Since Last Report)

Checkchanged since last report)

Indicate by check mark whether the issuerregistrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuerregistrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes x☒    No o

☐

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).Yes o. Yes ☐    No o

☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, filer.or an emerging growth company. See definitionthe definitions of “accelerated filer” and “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  ☐Accelerated filer ☐
Non-accelerated filer ☐

Smaller reporting company ☒

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 (Check one):

Large Accelerated Filer o       Accelerated Filer o      Non-Accelerated Filer o       Smaller Reporting Company x
☐

Indicate by check mark whether the registrant is a shell company as(as defined in Rule 12b-2 of the Exchange Act.

Act). Yes o☒   No x
State☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

The number of shares outstanding of each of the issuer’s classes ofregistrant’s common equity,stock outstanding as of November 12, 2010: 20,000,000 shares of common stock.


April 23, 2019 was 47,000,000.

 


FORM 10-Q

SHENTANG INTERNATIONAL, INC.

FORM 10-Q
September 30, 2010
INDEX
PART I-- FINANCIAL INFORMATION

March 31, 2019

TABLE OF CONTENTS

Page No.
PART I. - FINANCIAL INFORMATION
Item 1.Condensed Financial Statements (Unaudited)1
Condensed Balance Sheets as of December 31, 2018 and March 31, 20191
Unaudited Condensed Statements of Operations and Comprehensive Loss for the year ended December 31, 2018 and through the three months ended March 31, 20192
Unaudited Condensed Statements of Cash Flows for the three months ended March 31, 20193
Condensed Statements of Stockholders’ (Deficit) for the three months periods ended March 31, 2019 and March 31, 20184
Notes to Condensed Financial Statements F-1-F-115
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations 18
Item 3.Quantitative and Qualitative Disclosures About Market Risk 710
Item 4T.4.Controls and Procedures 710
PART II-- OTHER INFORMATION
PART II - OTHER INFORMATION
Item 11.Legal Proceedings 812
Item 1A.1ARisk Factors 812
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds 812
Item 3.Defaults Upon Senior Securities 812
Item 4.(Removed & Reserved)Mine Safety Disclosures 812
Item 5.Other Information 812
Item 6.Exhibits 8
SIGNATURE
i

PART 1 – FINANCIAL INFORMATION
Item 1. Financial Statements


Shentang International Inc. and Subsidiaries

Consolidated Financial Statements
September 30, 2010 (Unaudited)

TABLE OF CONTENTS




Page13
 Signature
Consolidated balance sheets
F-1
Consolidated statements of operations and comprehensive income
F-2
Consolidated statements of cash flows
F-3
Notes to consolidated financial statementsF-4~1114

i

FORWARD LOOKING STATEMENTS

This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements.

Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings “Risks Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our report on Form 8-K which was filed with the SEC on January 20, 2017 (the “Super 8-K”), in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report.

We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.

We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, except as required by law. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which are designed to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.

ii

ii
Shentang International Inc. and Subsidiaries
Consolidated Balance Sheets

PART I. FINANCIAL INFORMATION

SHENTANG INTERNATIONAL INC. AND SUBSIDIARIES

BALANCE SHEETS

(Unaudited)

  March 31,
2019		  December 31,
2018		 
ASSETS      
CURRENT ASSETS:      
Notes receivable – related party $7,687  $7,632 
Total current assets  7,687   7,632 
         
TOTAL ASSETS $7,687  $7,632 
         
LIABILITIES AND STOCKHOLDERS’ DEFICIT        
         
CURRENT LIABILITIES:        
Accounts payable and Accrued Expenses  5,244   6,250 
Loan Payable – Related Party  30,806   20,885 
Total current liabilities  36,050   27,135 
         
Commitments and Contingencies        
STOCKHOLDERS’ DEFICIT        
Common stock, par value $0.001 per share; 190,000,000 shares authorized; 47,000,000 and 20,000,000 shares issued and outstanding in March 31, 2019 and December 31, 2018, respectively  47,000   47,000 
Additional paid in capital  556,833   556,833 
Accumulated deficit  (632,196)  (623,336)
Total stockholders’ deficit  (28,363)  (19,503)
         
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $7,687  $7,632 

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


  September 30,  December 31, 
  2010  2009 
  Unaudited    
Assets      
Current assets:      
Cash and cash equivalents $18,392  $11,513 
Accounts receivable, net  2,450,933   2,673,034 
Other receivables  22,472   394,357 
Inventory  176,881   260 
Prepaid expenses  -   4,874 
Total current assets  2,668,678   3,084,038 
         
Prepayment to related parties for acquisition  1,445,849   861,244 
Property and equipment, net
  24,600   26,637 
Total assets $4,139,127  $3,971,919 
         
Liabilities and Stockholders’ Equity        
Current liabilities:        
    Accruals and other payables $116,148  $139,054 
  Short-term borrowings  156,691   - 
Income taxes payable  9,335   - 
Total current liabilities  282,174   139,054 
         
Commitments and Contingencies        
         
Stockholders’ equity:        
Common stock  ($0.001 par value; 190,000,000 shares authorized, 20,000,000 shares issued and outstanding)  20,000   20,000 
    Additional paid-in capital  556,833   556,833 
    Unappropriated retained earnings  3,269,450   3,257,701 
    Accumulated other comprehensive income / (loss)  10,670   (1,669)
Total stockholders’ equity  3,856,953   3,832,865 
         
Total Liabilities and Stockholders’ Equity $4,139,127  $3,971,919 
         
See

SHENTANG INTERNATIONAL INC. AND SUBSIDIARIES

STATEMENTS OF OPERATIONS

(Unaudited)

  For the three months ended 
  March 31, 
  2019  2018 
       
Operating expenses $        $         
Audit and accounting fees  3,450     
Legal Fees  2,250     
Filing fees  3,215   - 
Total operating expense  8,915   - 
         
Loss from operations  (8,915)  - 
         
Interest income  55   - 
Total other income  55   - 
         
Net loss $(8,860) $- 
Net loss per common share – basic and diluted $-  $- 
Weighted average common shares outstanding – basic and diluted  43,410,000   - 

The accompanying notes to consolidatedare an integral part of these financial statements

F-1
Shentang International Inc. and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income
  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  2010  2009  2010  2009 
  Unaudited  Unaudited  Unaudited  Unaudited 
             
Sales $1,322,923  $2,788,824  $1,941,519  $4,134,187 
Cost of sales  780,350   1,540,730   1,101,691   2,405,521 
Gross margin  542,573   1,248,094   839,828   1,728,666 
                 
Operating expenses                
Research and development expenses  11,134   31,506   36,031   81,165 
Selling expenses  2,867   156,354   12,395   331,503 
General and administrative expenses  228,338   519,455   774,838   586,292 
   242,339   707,315   823,264   998,960 
                 
Operating income  300,234   540,779   16,564   729,706 
                 
Other income / (expense)                
    Financial income / (expense)  1,939   (2,382)  4,520   (5,486)
Income before income tax expense  302,173   538,397   21,084   724,220 
                 
    Income tax expense  (9,335)  (11,390)  (9,335)  (11,390)
Net income  292,838   527,007   11,749   712,830 
    Foreign currency translation gain  9,310   413   12,339   849 
Comprehensive income  $302,148   $527,420   $24,088  $ 713,679 
                 
Earnings per share – basic and diluted  $0.015   $0.027   $0.001   $0.038 
                 
Weighted average number of shares outstanding - basic and diluted  20,000,000   19,570,000   20,000,000   18,600,000 
                 
statements.


See

SHENTANG INTERNTIONAL INC. AND SUBSIDIARIES

STATEMENTS OF CASH FLOWS

(Unaudited)

  For the Three Months Ended
March 31,		 
  2019  2018 
OPERATING ACTIVITIES:      
Net loss $(8,860) $- 
Adjustments to reconcile net loss to net cash (used in) operating activities:        
Interest receivable  (55)  - 
Accounts payable and accrued expenses  (1,006)  - 
NET CASH USED IN OPERATING ACTIVITIES  (9,921)  - 
         
FINANCING ACTIVITIES:        
Proceeds from Related party loan  9,921   - 
NET CASH PROVIDED BY FINANCING ACTIVITIES  6,400   - 
         
NET INCREASE IN CASH  -   - 
         
CASH – BEGINNING OF PERIOD  0   0 
CASH – END OF PERIOD $0  $0 
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for:        
Income tax $-  $- 
Interest  -   - 

The accompanying notes to consolidatedare an integral part of these financial statements

F-2
statements.


SHENTANG INTERNATIONAL INC

STATEMENT OF STOCKHOLDERS’ (DEFICIT)

FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2019 AND MARCH 31, 2018

Statement of Stockholders’ Deficit for the Three Months ended March 31, 2018

  Common Stock:
Shares		  Common Stock: Amount  Additional Paid in Capital  Deficit Accum  Other Comprehensive Income  Totals 
Balance - December 31, 2017  20,000,000   20,000   556,833   (576,833)         -   - 
                              
Net income for the period  -   -   -   -       - 
Balance March 31, 2018  20,000,000  $20,000  $556,833  $(576,833) $-   - 

Statement of Stockholders’ Deficit for the Three Months ended March 31, 2019

  Common Stock:
Shares		  Common Stock: Amount  Additional Paid in Capital  Deficit Accum  Other Comprehensive Income  Totals 
Balance – December 31, 2018  47,000,000  $47,000  $556,833  $(576,833) $       -  $- 
                         
Net income for the period              (695)      (695)
Balance March 31, 2019  47,000,000  $47,000  $556,833  $(624,031) $-   (624,031)

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

Shentang International Inc.

4

SHENTANG INTERNTIONAL INC. AND SUBSIDIARIES.

NOTES TO FINANCIAL STATEMENTS

Note 1 – Organization and Subsidiaries

Consolidated Statementsbasis of Cash Flows
  Nine Months Ended September 30, 
  2010  2009 
  Unaudited  Unaudited 
Cash flows from operating activities      
Net income $11,749  $712,830 
Adjustments to reconcile net income to cash provided by operating activities        
    Depreciation  3,938   - 
    Bad debt provision  368,854   - 
Changes in operating assets and liabilities        
    Accounts receivable  (146,753)  (790,020)
    Other receivables  371,885   (107,502)
    Inventory  (176,621)  22,347 
    Prepaid expenses  4,874   8,512 
    Accounts payable  -   (20,306)
    Accruals and other payables  (22,906)  137,911 
    Income tax payable  9,335   11,390 
    Loan to a director  -   (402,117)
    Amount due to a director  -   (15,255)
Net cash provided by / (used in) operating activities  424,355   (442,210)
         
Cash flows from investing activities        
    Prepayment to related parties for acquisition  (572,550)  - 
    Purchases of office equipment  (1,901)  (27,888)
Net cash used in investing activities  (574,451)  (27,888)
         
Cash flows from Financing activities        
  Proceeds from short-term borrowings  179,075   - 
  Repayment of short-term borrowings  (22,384)  - 
  Proceeds from cash contribution from a stockholder  -   468,253 
Net cash provided by financing activities  156,691   468,253 
         
Effect of foreign currency exchange rate fluctuation on cash and cash equivalents  284   751 
         
Net increase / (decrease) in cash and cash equivalents  6,879   (1,094) 
Cash and cash equivalents at beginning of the period  11,513   14,085 
Cash and cash equivalents at end of the period $18,392  $12,991 
         
         
Supplemental disclosure of cash flow information:        
Cash paid during the period for        
Interest $(2,853) $- 
Income tax $-  $- 
See notes to consolidated financial statements

F-3
Shentang International Inc.accounting

Basis of Presentation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS
(a)           Nature of Business
Organization

Shentang International, Inc. (“Shentang”we” or the “Company”), was incorporated in the State of Nevada on June 29, 2007. We were an exploration-stage company engaged in June 2007, through its subsidiaries (collectively the “Company”exploration of mineral resource properties.

On July 22, 2009, the Company conducted a 1-to-10 stock split (the “Stock Split”), designs of the issued and sells glass products that comprise festival gifts, home decorationsoutstanding common stock, so the Company’s issued and exclusive craftworks.outstanding shares increased from 1,670,000 to 16,700,000 with par value of $0.001.Immediately after the Stock Split on July 22, 2009, the Company entered into a Share Exchange Agreement (the “Exchange Agreement”) with Boom Spring, International Limited (“Boom Spring”) is mainly responsible for the sales of glass products to international markets, while Shengtang Glass Craftworks Design Limited (“Shengtang Glass”) is responsible for designing and purchasing glass products from certain suppliers in the PRC.


(b)           Organization

Shentang owns 100% sharesshareholders of Boom Spring, a BVI company set up in October 2007.and the Company. Pursuant to the terms of the Exchange Agreement, the shareholders of Boom Spring owns 100%transferred to the Company all of the equity interest of Shengtang Glass. ThroughBoom Spring in exchange for 12,000,000 outstanding shares of the Company and 33,300,000 newly issued shares of the Company (the “Share Exchange”). As a seriesresult of stock exchanges, stock split, reverse stock splitsthe Share Exchange, Boom Spring became a wholly owned subsidiary of the Company and increase in authorized shares conducted in 2009, Shentang has 190,000,000 authorized shares and 20,000,000 sharesthe Company became a holding company with issued and outstanding common stock of 50,000,000 with par value of $0.001.

Pursuant to a board resolution dated October 21, 2009, the Company increased its authorized number of common stock from 50,000,000 to 190,000,000, and conducted a 2-for-5 reverse stock split (the “Reverse Stock Split”) of the issued and outstanding common stock. After the Reverse Stock Split, the Company’s issued and outstanding shares changed from 50,000,000 to 20,000,000 with par value of $0.001 effective on October 21, 2009. This reverse stock split also gave retroactive effect in the balance sheet as of December 31, 2008 and the computation of basic and diluted EPS is adjusted retroactively for all period presented accordingly.

The Company had exclusive use of the core technologies, including hollow/solid glass processing technology, pure manual glass rod processing technology, wire processing technology and painting processing technology. It developed “Yi Fan Feng Shun” liquor vessel with the brand of Wu Liang Ye. The Company was engaged in expanding in the international market. The Company also planned to build or acquire its own production capacity to meet the demand in the domestic Chinese market by purchasing or acquiring new equipment of machine-made glass producing. The objective of the Company was to become a large-scaled glass craftwork supplier and further develop its innovational technology.

On May 11, 2018, the eight judicial District Court of Nevada appointed Custodian Ventures, LLC as custodian for Shentang International Inc., proper notice having been given to the officers and directors of Shentang International, Inc. There was no opposition.

On May 16, 2018, the Company filed a certificate of revival with the state of Nevada, appointing David Lazar as, President, Secretary, Treasurer and Director.

On May 31, 2018, the Company issued 27,000,000 shares of common stock, with par value $0.001 for par value for services valued at $27,000, to the Company’s Chief Executive Officer, David Lazar.

On July 2, 2018, the Company terminated its registration with the Securities and Exchange Commission.

On August 2, 2018, the Company filed a Form 10-12G, which went effective on October 1, 2018. 

The accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of America (“GAAP”). The Company is a development stage enterprise devoting substantial efforts to establishing a new business, financial planning, raising capital, and research into products which may become part of the Company’s product portfolio. The Company has not realized significant sales through since inception. A development stage company is defined as one in which all efforts are devoted substantially to establishing a new business and, even if planned principal operations have commenced, revenues are insignificant.

The accompanying financial statements have been prepared assuming the continuation of the Company as a going concern. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and is dependent on debt and equity financing to fund its operations. Management of the Company is making efforts to raise additional funding until a registration statement relating to an equity funding facility is in effect. While management of the Company believes that it will be successful in its capital formation and planned operating activities, there can be no assurance that the Company will be able to raise additional equity capital, or be successful in the development and commercialization of the products it develops or initiates collaboration agreements thereon. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

5


NOTE

Note 2 – Summary of significant accounting policies

Cash and Cash Equivalents

For purposes of reporting within the statements of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

Fair Value Measurement

The Company values its convertible notes and amounts due to related partings and short term loans payable under FASB ASC 820 which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).

The three levels of the fair value hierarchy are as follows:

Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.

Level 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


(a)BasisValuations for assets and liabilities that can be obtained from readily available pricing sources via independent providers for market transactions involving similar assets or liabilities. The Company’s principal markets for these securities are the secondary institutional markets, and valuations are based on observable market data in those markets.

Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of Presentation


fair value. The unaudited interim consolidated financial statements (“consolidated financial statements”) have been preparedCompany uses Level 3 to value its derivative instruments.

Employee Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC 718 Compensation - Stock Compensation (“ASC 718”). ASC 718 addresses all forms of share-based payment (“SBP”) awards including shares issued under employee stock purchase plans and stock incentive shares. Under ASC 718 awards result in a cost that is measured at fair value on the accounting policies describedawards’ grant date, based on the estimated number of awards that are expected to vest and will result in a charge to operations.

Subsequent Event

The Company evaluated subsequent events through the date when financial statements are issued for disclosure consideration.

Adoption of Recent Accounting Pronouncements

As of December 31, 2015, the Company adopted guidance codified in ASU 2015-03,Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs.The guidance simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs is not affected. Therefore, these costs will continue to be amortized as interest expense using the effective interest method pursuant to ASC 835-30-35-2 through 35-3. The Company has applied this guidance retrospectively to all prior periods presented in the Company’s Form 10-K filedfinancial statements.

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on April 15, 2010 (“2009 Form 10-K”), andits financial position or results of operations.


Recent Accounting Pronouncements

In February 2016, the FASB issued an accounting standards update for leases. The ASU introduces a lessee model that brings most leases on the balance sheet. The new standard also aligns many of the underlying principles of the new lessor model with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, certain information and note disclosures normally includedthose in the Company’s annual financial statements preparedcurrent accounting guidance as well as the FASB’s new revenue recognition standard. However, the ASU eliminates the use of bright-line tests in accordance with accounting principles generally accepteddetermining lease classification as required in the United States of America (“U.S. GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunctioncurrent guidance. The ASU also requires additional qualitative disclosures along with the consolidated financial statements included in the Company’s 2009 Form 10-K.


In the opinion of management, all adjustments (which include normal recurring adjustments) necessaryspecific quantitative disclosures to present a fair statement of consolidated financial position as of September 30, 2010, and consolidated results of operations, and cash flows for the interim period presented have been made. The interim results of operations are not necessarily indicative of the operating results for the full fiscal year or any future periods.
The consolidated financial statements include the financial statements of Shentang International and its subsidiaries, Boom Spring and Shengtang Glass. All significant inter-company transactions and balances have been eliminated upon consolidation.

F-4

(b) Use of estimations
The preparationbetter enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The pronouncement is effective for annual reporting periods beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020, for nonpublic entities using a modified retrospective approach. Early adoption is permitted. The Company is still evaluating the impact that the new accounting guidance will have on its condensed financial statements and related disclosures and has not yet determined the method by which it will adopt the standard.

In August 2016, the FASB issued an accounting standards update addressing the classification and presentation of eight specific cash flow issues that currently result in conformity with accounting principles generally accepteddiverse practices. The amendments provide guidance in the United Statespresentation and classification of America requires management to make estimatescertain cash receipts and assumptionscash payments in the statement of cash flows including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investees. This pronouncement is effective for annual reporting periods beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, for nonpublic entities. The amendments in this ASU should be applied using a retrospective approach. The Company is still evaluating the impact that affect the reported amountsnew accounting guidance will have on its condensed financial statements and related disclosures. 

Note 3 – Discontinued Operations

The Company has fully impaired all assets since the shutdown of assetsits operations in 2009 and liabilitieshas recorded the effects of this impairment as part of its discontinued operations. With the absence of a substantial amount of the old records and the related disclosurepassage of contingent assetsthe statute of limitations the company has recorded a discontinued operations expense in 2018 the most current year since operations shutdown based on the accumulated records obtained to date through the third quarter 2018.

Note 4 – Notes payable

On May 31, 2018, the Company obtained a promissory note in amount of $7,500 from its custodian, Custodian Ventures, LLC in exchange for services. The note bears an interest of 3% and liabilities atmatures in 180 days from the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Management bases these estimates on historical experiences and the best information available at the time the estimates are made; however actual results could differ from those estimates. US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, contingencies and results of operations. While management has based their assumptions and es timates on the facts and circumstances existing as of September 30, 2010, actual amounts may differ from these estimates.  Significant estimates by management include, but are not limited to, the valuation of trade receivables and other receivables, the estimation of useful lives of property and equipment.


(c)  Cash and cash equivalents
Cash includes currency on hand and demand deposits with banks or other financial institutions. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and have original maturities of six months or less.
No cash and cash equivalents are restricted as to withdrawal or usage.
(d)  Accounts receivable
Accounts receivable are recognized and carried at original sales amounts less an allowance for uncollectible accounts, as needed.
Accounts receivable are reviewed periodically as to whether they are past due based on contractual terms and their carrying values have become impaired. An allowance for doubtful accounts is recorded in the period in which loss is determined to be probable based on an assessment of specific evidence indicating doubtful collection, historical experience, account balance aging and prevailing economic conditions. Accounts receivable balances are written off after all collection efforts have been exhausted. The Company does not have any off-balance-sheet credit exposure related to its customers. As of September 30, 2010 and December 31, 2009, a balance of US$368,854 and nil allowances for doubtful accounts were provided, respectively.
(e)  Other receivables
Other receivables represent various advances to certain employees and unrelated parties for business purposes and receivables from staffs due to the cash collected from customers by staffs. The Company has full oversight and control over the advanced accounts. As of September 30, 2010 and December 31, 2009, no allowance for doubtful accounts was required on other receivables.
F-5
(f)  Inventory

Inventories, which mainly comprised of the raw materials for research and development purpose, and the merchandises, are stated at the lower of cost or market. Cost is determined using the weighted average method. Where there is evidence that the utility of inventories, and their disposal in the ordinary course of business, will be less than cost, whether due to physical deterioration, obsolescence, changes in price levels, or other causes, a provision is recorded for the difference with charges to cost of sales.

As of September 30, 2010, the balance of inventory represented the merchandises in transit.

(g)  Property and equipment

Property and equipment are stated at historical cost less accumulated depreciation and impairment. The historical cost of acquiring an item of property and equipment includes the costs necessarily incurred to bring it to the condition and location necessary for its intended use.

(h)  Revenue recognition
The Company recognizes revenue in accordance with “ASC Topic 605”. All of the following criteria must exist in order for the Group to recognize revenue: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) price to the buyer is fixed or determinable; and (4) collectability is reasonably assured.
Delivery does not occur until products have been shipped to the customers, risk of loss has transferred to the customers and customers’ acceptance has been obtained, or the Company has objective evidence that the criteria specified in customers’ acceptance provisions have been satisfied. The sales price is not considered to be fixed or determinable until all contingencies related to the sale have been resolved.
(i)  Taxation
(i)   Income tax
Shentang is subject to the United States of America Tax laws at a tax rate of up to 35%. No provision for US federal income tax has been made as the Company had no US taxable income for the three and nine months ended September 30, 2010 and 2009. The Company believes that its earnings are permanently invested in PRC.
Boom Spring, being incorporated in the BVI, is governed by the income tax law of the BVI and is subject to BVI’s income tax. According to current BVI income tax law, there is no applicable income tax for Boom Spring.
Shengtang Glass, being incorporated in the PRC, is governed by the income tax law of the PRC and is subject to PRC’s enterprise income tax. The applicable income tax rate for Shengtang Glass is 25%.
F-6
(ii)  Value added tax
Sales of Shengtang Glass are subject to the PRC’s Value added tax (“VAT”). Shengtang Glass has qualified as an ordinary value-added taxpayer and the applicable tax rate for domestic sales is 17% commencing October 1, 2008. Input VAT on purchases of raw materials, fuel, utilities and other production materials (merchandise, transportation costs) can be deducted from output VAT. VAT payable is the difference between output and deductible input VAT.
Shengtang Glass has been approved to use the “exempt, credit, refund” method on glass craftworks and Christmas decorations exported providing a tax refund at the rate of 5% and 13%.
(iii)   Deferred tax
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and any operating loss and tax credit carry forwards. 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. A valuation allowance is provided to reduce the amount of deferred tax asset if it is considered more likely than not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
(j)  Commitments and contingencies
In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations, product and environmental liability, and tax matters. In accordance with “ASC Topic 450”, the Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Historically, the Company has not experienced any material service liability claims.
(k)  Fair value of financial instruments
The carrying amounts reported in the consolidated balance sheets for accounts receivable, other receivables, accruals and other payables and short-term borrowings approximate their fair value because of the immediate or short-term maturity of these financial instruments.
F-7
(l)  Recently enacted accounting standards

Since the filing of 2009 Form 10-K, the FASB issued ASU No. 2010-1 through No. 2010-26. These ASUs entail technical corrections to existing guidance or affect guidance related to specialized industries or entities and therefore have minimal, if any, impact on the Company.

NOTE 3 - ACCOUNTS RECEIVABLE, NET
  September 30,  December 31, 
  2010  2009 
  Unaudited    
Accounts receivable $2,819,787  $2,673,034 
Allowance for doubtful accounts  (368,854)  - 
  $2,450,933  $2,673,034 
The following table presents the movement of the allowance for doubtful accounts:

  September 30,  December 31, 
  2010  2009 
  Unaudited    
Beginning allowance for doubtful accounts $-  $- 
Additions charged to bad debt expense  (368,854)  - 
  $(368,854) $- 

NOTE 4 - OTHER RECEIVABLES
  September 30,  December 31, 
  2010  2009 
  Unaudited    
Deposit (a) $-  $219,677 
VAT refund receivable  12,675   167,428 
Petty cash advances to staff  5,014   7,252 
Others  4,783   - 
  $22,472  $394,357 
(a)  
As of December 31, 2009, the balance represents deposit to a customer of the Company for quality assurance, which was fully repaid in May 2010.
F-8

NOTE 5 - PREPAYMENT TO RELATED PARTIES FOR ACQUISITION
Pursuant to a letter of intent entered into by Shengtang Glass and the holder of Shenzhen Longgang Dunhuang Glasswork Factory (“Dunhuang”) (related party controlled by the same ultimate stockholder) dated December 21, 2009, and a letter of intent entered into by Shengtang Glass and the holder of Shenzhen Datang Glass Company Limited (“Datang”) (related party controlled by the same ultimate stockholder) dated December 21, 2009, Shengtang Glass is going to acquire the equity interest or production lines of Dunhuang and Datang in 2010. Accordingly, as of September 30, 2010, US$451,391 and US$994,458 were paid to Dunhuang and Datang respectively for the acquisition, when details of the acquisitions were mutually agreed respectively and the acquisitions are expected to take effect by the end of 2010.
NOTE 6 - SHORT-TERM BORROWINGS

On July 1, 2010, Shengtang Glass borrowed a bank loan of RMB1,200,000 (approximately US$179,075). The loan matures on June 30, 2011, and is repayable monthly with a principal amount of RMB50,000 (approximately US$7,461). The loan is unsecured and with an interest rate of 6.372% per annual.

NOTE 7 - TAXATION
(a)  Income taxes
The components of income / (loss) before income tax expense is as follows:

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  2010  2009  2010  2009 
  Unaudited  Unaudited  Unaudited  Unaudited 
             
BVI $130,231  $367,284  $(110,371) $678,662 
PRC  171,942   171,113   131,455   45,558 
  $302,173  $538,397  $21,084  $724,220 

No income taxes were reported for the income from BVI since the applicable income tax rate of Boom Spring was 0% according to BVI tax law.

Income taxes of US$9,335 and US$11,390 were reported for the income from Shengtang Glass based on the applicable income tax rate of 25% for the three and nine months ended respectively as of September 30, 2010 and 2009.
F-9
(b)  Deferred taxes
The Company uses the asset and liability method of accounting for income taxes pursuant to Accounting for Income Taxes (“ASC Topic 740”). Under the asset and liability method of ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry forwards and their respective tax bases.  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.
issuance. During the period ended September 30, 2010, there were no material temporary differences for tax purpose, except for the allowance for doubtful accounts provided by Boom Spring (note 3). The balance of deferred tax assets was nil, since the applicable tax rate of Boom Spring was 0%.

NOTE 8 – EARNINGS PER SHARE
 Basic and diluted earnings per share for each of the periods presented are calculated as follows:

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  2010  2009  2010  2009 
  Unaudited  Unaudited  Unaudited  Unaudited 
Numerator            
Net income $292,838   527,007   11,749   712,830 
                 
Denominator                
Weighted average common shares outstanding used in computing basic and diluted earnings per share  20,000,000   19,570,000   20,000,000   18,600,000 
Earnings Per Share  $0.015   $0.027  $0.001  $0.038 

NOTE 9 - SEASONALITY
Our sales are subject to seasonal factors. We typically experience higher sales in the third and fourth quarters mainly for festival gifts for Christmas and Chinese Spring Festival while the sales in the first and second quarters of the year remain lower. Sales can also fluctuate during the course of a year for a number of other reasons, including product design, and the timing of promotional activities. As a result of these reasons, our operating results may fluctuate. In addition, the seasonality of our results may be affected by other unforeseen circumstances, such as production interruptions.
F-10
NOTE 10 - COMMITMENTS AND CONTINGENCIES
(a)  Operating lease commitments
The corporate office of Shengtang Glass is located in the Longgang District, Shenzhen of China. The corporate office is 580 m2 and is leased from a third party. The lease is a 5-year lease starting from July 1, 2009 and ending June 30, 2014 with a monthly rental amounting to US$2,516.

The estimated rental payments for the three months ended Decemberperiod March 31, 2010 will be US$7,532, while2019, Custodian Ventures, LLC advanced at total of $6,400 to the annual rental payments for each of the years ended December 31, 2011, 2012, 2013 and 2014 will be US$30,126, US$30,126, US$30,126, and US$15,063 respectively.

Rental expense under this lease aggregated US$22,595 and US$7,548 for the nine months ended September 30, 2010 and 2009, respectively.
(b)  Capital and other commitments
Company. As of September 30, 2010,March 31, 2019, $27,285 remains outstanding, including accrued interest income of $55.

Note 5 – Common Stock

On May 31, 2018, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees.


 (c)  Contingencies
Pursuantissued 27,000,000 shares of common stock, with par value $0.001 for par value for services valued at $27,000 to the lettersCompany’s Chief Executive Officer, David Lazar. As of intent entered into by Shengtang Glass andMarch 31, 2019 47,000,000 shares of common stock with par value of $0.001 remains outstanding.

Note 6 – Subsequent Events

The Company evaluates events that occur after the holder of Dunhuang and Datang, respectively, dated December 21, 2009, Shengtang Glass is going to acquire the production lines, patents or equity interest of Dunhuang and Datang in 2010. As details of the acquisition, including the consideration and effective acquisition, are still under negotiation, there is a possibility that Shengtang Glass and the holder of Dunhuang and Datang might not reach final agreement on the acquisition. Based on management best estimation, the possibility of not reaching an agreement for the acquisition is less than probable as of September 30, 2010.

NOTE 11 - SUBSEQUENT EVENTS

Management has considered all events occurring after September 30, 2010, toyear-end date through the date the financial statements have been issued,are available to be issued. Accordingly, management has evaluated subsequent events through April 22, 2019, and has determined that there arewere no suchsubsequent events, that are materialrequiring adjustment to, or disclosure in, the financial statements.


F-11
Item

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

The following discussion is an overview of the important factors that management focuses on in evaluating our business, financial condition and operating performance and should be read in conjunction with the financial statements included in this Form 10-Q.  This discussion contains forward-looking statements that involve risks and uncertainties.  Actual results could differ materially from those anticipated in these forward looking statements as a result of any number of factors, including those set forth under the section entitled “Risk Factors” and elsewhere in this Form 10-Q.
CORPORATE INFORMATIONMANAGEMENT’S DISCUSSION AND BUSINESS DESCRIPTION
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Business Development

Shentang International, Inc. (we(“we” or the “Company”) was incorporated in the State of Nevada on June 29, 2007. We were an exploration-stageexploration stage company engaged in the exploration of mineral resource properties.

The Company’s authorized shares were 50,000,000 and the issued and outstanding shares were 1,670,000 with par value of $0.001 by July 22, 2009.

On July 22, 2009, the Company conducted a 1-to-10 stock split (the “Stock Split”) of the issued and outstanding common stock, so the Company’s issued and outstanding shares increased from 1,670,000 to 16,700,000 with par value of $0.001.


Immediately after the Stock Split on July 22, 2009, (the “Closing Date”), the Company entered into a Share PurchaseExchange Agreement and Share Exchange (the “Exchange Agreement”) with Boom Spring, International Limited, a British Virgin Islands corporationInc. (“Boom Spring”), and the shareholders of Boom Spring (the “Boom Spring Shareholders”), and Shengtang Craft Design (Shenzhen) Co., Ltd. (“Shengtang Glass”)., a wholly foreign-owned enterprise established under the laws of People’s Republic of China, which is a wholly-owned subsidiary of Boom Spring On the Closing Date, pursuant to the terms of the Exchange Agreement, we acquired all the outstanding shares of Boom Spring (the “Interests”) fr om the Boom Spring Shareholders; and the Boom Spring Shareholders transferred and contributed all of their Interests to us.  In exchange, our sole officer and director and majority shareholder transferred 12,000,000 shares, and we issued 33,300,000 shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”) to the Boom Spring Shareholders, their designees or assigns, which totals 90.6% of the issued and outstanding Common Stock of the Company on a fully-diluted basis as of and immediately after the Closing (the “Share Exchange”). Following the Share Exchange, Boom Spring became our wholly owned subsidiary, and there are 50,000,000 shares of Common Stock issued and outstanding.Spring. Pursuant to the terms of the Exchange Agreement, David Price resigned as the sole director and officershareholders of Boom Spring transferred to the Company all of the equity interest of Boom Spring in exchange for 12,000,000 outstanding shares of the Company effective immediately at the Closing Date and Zhongmin Chen, Shaoping Lu, Rong Li, Hui Zhao, Chunyun Zhao and Shing Ho Eric Cheung were appointed as the new directors and officers33,300,000 newly issued shares of the Company.

This transaction closed on July 22, 2009.
Company (the “Share Exchange”). As a result of the Share Exchange, Boom Spring became a wholly owned subsidiary of the Company and the Company became a holding company with issued and outstanding common stock of 50,000,000 with par value of $0.001.

Pursuant to a board resolution dated October 21, 2009, the Company increased its authorized number of common stock from 50,000,000 to 190,000,000, and conducted a 2-for-5 reverse stock split (the “Reverse Stock Split”) of the issued and outstanding common stock. After the Reverse Stock Split, the Company’s issued and outstanding shares changed from 50,000,000 to 20,000,000 with par value of $0.001 effective on October 21, 2009.


1
Prior to This reverse stock split also gave retroactive effect in the Share Exchange on July 22, 2009, the Company had no assets, liabilities, or business operationsbalance sheet as of meaningful significance.  Accordingly, the Share Exchange has been treated for accounting purposes as a recapitalization by the accounting acquirer, Boom Spring,December 31, 2008 and the financial statements reflect the assets, liabilities,computation of basic and operations of Boom Spring from its inception on October 2, 2007 to December 31, 2009 and us thereafter.  References to our company are with respect to Boom Spring to December 31, 2009 and us thereafter.
We operate our business through Shengtang Glass, the wholly-owned subsidiary of Boom Spring. Shengtang Glassdiluted EPS is in the business of design, sourceadjusted retroactively for productions and sale of glass products that can be classified as festival gifts, home decorations and exclusive craftworks. All of the three categories of products are mainly made of glass tube and glass rod, and some of them combine the use of wire, shell and crystal. We have successfully distributed the glass products to overseas markets such as Europe, North America and Southeast Asia.
Shengtang Glass hasall period presented accordingly.

The Company had exclusive use of the core technologies, includesincluding hollow/solid glass processing technology, pure manual glass rod processing technology, wire processing technology and painting processing technology. We have also built its reputation among manyIt developed “Yi Fan Feng Shun” liquor vessel with the brand of the well-known retailers such as WALMART, KOHL’S, TARGET, COSTCO, MACY’S, AG, CONNOR, LI&FUNG, LOWE’S, and HALLMARK. We are actively engagingWu Liang Ye. The Company was engaged in developingexpanding in the international market. Currently Shengtang Glass outsources theThe Company also planned to build or acquire its own production to some domestic Chinese suppliers and does not have any production line, however, it plans to develop a production linecapacity to meet the demand in the domestic Chinese market throughby purchasing or acquiring new equipments forequipment of machine-made glass producing. Our goal isThe objective of the Company was to become a large-scaled glass craftwork supplier and further deve lopdevelop its innovational technology.

On May 11, 2018, the innovational technology.

Foreight judicial District Court of Nevada appointed Custodian Ventures, LLC as custodian for Shentang International Inc., proper notice having been given to the year ending December 31, 2010, we plan to build or acquire our own production lines to meet the demandsofficers and directors of our existing customers.  Meanwhile, we have the plan and initiatives to acquire other viable enterprises both upstream and downstream in our industry, with the goal of completing at least 2 such acquisitions.
2
RESULTS OF OPERATIONS
The following tables set forth key components of our results of operations for the periods indicated, in dollars.
Shentang International, Inc. There was no opposition.

On May 16, 2018, the Company filed a certificate of revival with the state of Nevada, appointing David Lazar as, President, Secretary, Treasurer and Subsidiaries

Consolidated StatementsDirector.

On May 31, 2018, the Company issued 27,000,000 shares of Operations and Comprehensive Income

  
Three months ended
September 30,
  
Nine months ended
September 30,
 
  2010  2009  2010  2009 
  (Unaudited)  (Unaudited)  (Unaudited)  (Unaudited) 
             
Sales $1,322,923  $2,788,824  $1,941,519  $4,134,187 
Cost of sales  780,350   1,540,730   1,101,691   2,405,521 
Gross margin  542,573   1,248,094   839,828   1,728,666 
                 
Operating expenses                
Research and development expenses  11,134   31,506   36,031   81,165 
Selling expenses  2,867   156,354   12,395   331,503 
General and administrative expenses  228,338   519,455   774,838   586,292 
   242,339   707,315   823,264   998,960 
                 
Operating income  300,234   540,779   16,564   729,706 
                 
Other income / (expense)  1,939   (2,382)  4,520   (5,486)
Income before income tax expense  302,173   538,397   21,084   724,220 
                 
  Income tax expense  (9,335)  (11,390)  (9,335)  (11,390)
Net income  292,838   527,007   11,749   712,830 
Foreign currency translation gain  9,310   413   12,339   849 
Comprehensive income  $302,148   $527,420   $24,088  $ 713,679 
                 
Earnings per share – basic and diluted  $0.015   $0.027   $0.001   $0.038 
                 
Weighted average number of shares outstanding - basic and diluted  20,000,000   19,570,000   20,000,000   18,600,000 
                 
3
Three months ended September 30, 2010 as comparedcommon stock, with par value $0.001 for par value for services valued at $27,000, to the three months ended September 30, 2009

Sales:
Sales experienced a decrease from $2,788,824 forCompany’s Chief Executive Officer, David Lazar.

On July 2, 2018, the third quarter of 2009 to $1,322,923 for the third quarter of 2010, by $1,465,901 or 53%. The decrease is mainly due to slack demand in US market and decreased orders in the third quarter of 2010.  

Cost of goods sold:
Cost of goods sold declined from $1,540,730 for the third quarter of 2009 to $780,350 for the third quarter of 2010, a decrease of $760,380 or 49%. The decrease is in line with good sales performance in the third quarter of 2010.
Gross margin:
Gross margin consequently dropped from $1,248,094 for the three months ended September 30, 2009 to $542,573 for the three months ended September 30, 2010. The decline of $705,521 or 57% is mainly due to lower sales volume.
Operating expenses:
Operating expenses decreased from $707,315 for the three months ended September 30, 2009 to $242,339 for the three months ended September 30, 2010. The decrease of $464,976 include a slight decline of $20,372 for research and development expenses, a decrease of $153,487 and $291,117 for selling expenses and general and administrative expenses, respectively.

The decrease in selling expenses was due to (1) less sales commission occurred in lineCompany terminated its registration with the sales volumeSecurities and (2)Exchange Commission.

On August 2, 2018, the cancellation of marketing service contractCompany filed a Form 10-12G, which went effective on October 1, 2018. 

The Company’s current business objective is to seek a business combination with certain supplier in late 2009, such marketing service occurred $150K expenses inan operating company. We intend to use the second quarter of 2009. The decrease in generalCompany’s limited personnel and administrative expenses is mainly resulted from significant professional fee recognized in the third quarter of 2009financial resources in connection with the Company’s public offering process and OTCBB related expenses.

Operating income:
Operating income for the three months ended September 30, 2010 amounted to $300,234 compared to $540,779 for the three months ended September 30, 2009. The significant drop of $240,545 was mainly caused by the slack sales performance in the third quarter of 2010.
4
The nine months ended September 30, 2010 as compared to the nine months ended September 30, 2009

Sales:
Sales decreased from $4,134,187 for the nine months ended September 30, 2009 to $1,941,519 for the nine months ended September 30, 2010, a decrease of $2,192,668 or 53%. The decrease is mainly due to the continuing weakness in US market and decreased orders since the fourth quarter of 2009. With management continuous efforts in development of new customers, the Company has achieved some increment in the second quarter of 2010, while some of the customers decreased their orders in the third quarter of current year.
Cost of goods sold:
Cost of goods sold decreased from $2,405,521 for the nine months ended September 30, 2009 to $1,101,691 for the nine months ended September 30, 2010, a decrease of $1,303,830 or 54%. The decrease is mainly due to lower sales volume.
Gross margin:
Gross margin decreased from $1,728,666 for the nine months ended September 30, 2009 to $839,828 for the nine months ended September 30, 2010. The decrease of $888,838 or 51% is jointly resulted from (1) lower sales volume in the first quarter of current year, (2) increase of export sales refund rate from 5% to 13% by relevant government authorities, and (3) management efforts in negotiation with suppliers for favorable purchase price.
Operating expenses:
Operating expenses increased from $998,960 for the nine months ended September 30, 2009 to $823,264 for the Nine months ended September 30, 2010. The increase of $175,696 include a decrease of $45,134 for research and development expenses, a decrease of $319,108 for selling expenses, and an increase of $188,546 for general and administrative expenses.

The decrease in selling expenses was due to (1) less sales commission occurred in line with the sales volume and (2) the cancellation of marketing service contract with certain supplier in late 2009, such marketing service occurred $150K expenses in the second quarter of 2009. The increase in general and administrative expenses is mainly resulted from substantial provision for doubtful accounts based on prudent estimation by management in current year.
Operating income:
Operating income for the nine months ended September 30, 2010 amounted to $729,706, compared to income from operations of $16,564 for the Nine months ended September 30, 2009. The substantial drop of $713,142 was jointly due to the slack sales performance and the incremental increase of general and administration expenses.
5
LIQUIDITY AND CAPITAL RESOURCES
As of September 30, 2010, our balance of cash and cash equivalents was $18,392, comparing to $11,513 as of December 31, 2009.
Our primary uses of cash have been for selling and marketing expenses, employee compensation, new product development, working capital, and perspective business acquisitions. The main sources of cash have been from the financing of purchase orders and the factoring of accounts receivable. All funds received have been expended in the furtherance of growing the business and establishing the brand portfolios. The following trends are reasonably likely to result in a material decrease in our liquidity over the near to long term: 
 An increase in working capital requirements to finance higher level of accounts receivable;
Addition of administrative and sales personnel as the business grows;
 Increases in advertising, public relations and sales promotions for existing and new brands as the company expands within existing markets or enters new markets;
Development of new brands to complement our celebrity portfolio;
Prepayment for perspective business and assets acquisitions; and
The cost of being a public company and the continued increase in costs due to governmental compliance activities.
The following summarizes the key components of the Company’s cash flows for the nine months ended September 30, 2010 and 2009.
  
Nine months ended
September 30,
 
  2010  2009 
  (Unaudited)  (Unaudited) 
Net cash provided by / (used in) operating activities $424,355  $(442,210) 
Net cash used in investing activities  (574,451)  (27,888)
Net cash provided by financing activities  156,691   468,253 
Effect of exchange rate fluctuation on cash and cash equivalents  284   751 
Net increase / (decrease) in cash and cash equivalents $6,879  $(1,094)
activities. The Company generatedwill utilize its cash flow mainly from operating activitiescapital stock, debt or a combination of capital stock and financing activities from certain bankdebt, in China foreffecting a business combination. It may be expected that entering into a business combination will involve the nine months ended September 30, 2010.issuance of restricted shares of capital stock. The Company believes the cash flows from operating activities for the next twelve months will be sufficient to sustain current levelissuance of operations.
OFF-BALANCE SHEET ARRANGEMENTS
There are no off-balance sheet arrangements between us and any other entity that have, or are reasonably likely to have, a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.
6
CRITICAL ACCOUNTING POLICIES
The discussion and analysisadditional shares of our financial conditioncapital stock:

●may significantly reduce the equity interest of our 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 immediate payment of all principal and accrued interest, if any, if the debt security was payable on demand; and
●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.


Shentang International, Inc. has administrative offices located at 3445 Lawrence Ave., Oceanside, NY 11572. Mr. Lazar, our sole office and results of operations are based upon our consolidateddirector, provides the office on a rent-free basis.

The Company’s fiscal year end is December 31.

Critical accounting policies and estimates 

Our condensed condensed financial statements which have beenare prepared in accordance with accounting principles generally accepted in the United States of America.GAAP. The preparation of these consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets liabilities, revenues and expenses, and relatedliabilities, disclosure of contingent assets and liabilities. On an on-going basis, weliabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. We continually evaluate our estimates and judgments, our commitments to strategic alliance partners and the timing of the achievement of collaboration milestones. We base our estimates and judgments on historical experience and other factors that we believe to be reasonable under the circumstances. All estimates, whether or not deemed critical, affect reported amounts of assets, liabilities, revenues and expenses, as well as disclosures of contingent assets and liabilities. These estimates and judgments are also based on historical experience and on various other assumptionsfactors that are believed to be reasonable under the circumstances. Materially different results can occur as circumstances the results of which form the basischange and additional information becomes known, even for makingestimates and judgments about the carrying values of assets and liabilities that are not readily apparentdeemed critical.

Going Concern

The accompanying financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern. The Company has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. These conditions raise substantial doubt as to our ability to continue as a going concern.

Results of Operations

For the three months ended March 31, 2019 compared to the three months ended March 31, 2018.

Revenue

For the three months ending March 31, 2019, the Company generated $0 in revenues. For the three months ended March 31, 2018, the Company generated $0 in revenues.

Expenses

For the three months ended March 31, 2019, we incurred operating expenses of $8,915. The increase is due to increased legal, audit, accounting and filing fees associated with the preparation of the quarterly financial statement.

Net Loss

For the three months ended March 31, 2019 we incurred a net loss of $8,860. The increase is due to increased legal, audit, accounting and filing fees associated with the preparation of the quarterly financial statement.

Liquidity and Capital Resources

As of March 31, 2019, the Company has no business operations and no cash resources other than that provided by Management. We are dependent upon interim funding provided by Management or an affiliated party to pay professional fees and expenses. Our Management and an affiliated party have agreed 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. As of March 31, 2019, we had $0 in cash. As of March 31, 2018, we had $0 in cash.

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 and an affiliated party to fulfill its filing obligations under the Exchange Act. At present, the Company has no financial resources to pay for such services.

The Company does not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations, maintaining the filing of Exchange Act reports, the investigation, analyzing, and consummation of an acquisition for an unlimited period of time will be paid from other sources. Actual results may differadditional money contributed by David Lazar, our sole officer and director, or an affiliated party.


During the next 12 months we anticipate incurring costs related to:

●filing of Exchange Act reports.
●franchise fees, registered agent fees, legal fees and accounting fees, and
●investigating, analyzing and consummating an acquisition or business combination.

We estimate that these costs will be in the range of five to six thousand dollars per year, and that we will be able to meet these costs as necessary, to be advanced/loaned to us by Management and/or an affiliated party.

On March 31, 2019 and March 31, 2018, we have had $7,687 in current assets and $7,632 in current assets, respectively. As of March 31, 2019, we had $28,363 in liabilities and stockholders’ deficit, consisting of amounts due to related party and accrued expenses. As of March 31, 2018, we had $27,135 in liabilities.

We had a negative cash flow from operations of $9,921 during the three months ended March 31, 2019. We financed our negative cash flow from operations during the three months ended March 31, 2019 through advances made by David Lazar. We had $0 cash flow from operations during the three months ended March 31, 2018. The Company currently plans to satisfy its cash requirements for the next 12 months through borrowings from its CEO or companies affiliated with its CEO and believes it can satisfy its cash requirements so long as it is able to obtain financing from these estimatesaffiliated parties. The Company expects that money borrowed will be used during the next 12 months to satisfy the Company’s operating costs, professional fees and for general corporate purposes. There is no written funding agreement between the Company and Mr. Lazar, our sole officer and director.

The Company has only limited capital. Additional financing is necessary for the Company to continue as a going concern. Our independent auditors have unqualified audit opinion for the years ended December 31, 2017 and 2016 with an explanatory paragraph on going concern.

Off-Balance Sheet Arrangements

As of March 31, 2019 and 2018, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under different assumptions or conditions.

 A summarythe Securities Act of 1934.

Contractual Obligations and Commitments

As of March 31, 2019 and 2018, we did not have any contractual obligations.

Critical Accounting Policies

Our significant accounting policies is includedare described in Note 2the notes to the unaudited consolidatedour financial statements for the ninethree months ended September 30, 2010. Management believes that the application of these policies on a consistent basis enables us to provide usefulMarch 31, 2019 and reliable financial information about our Company's operating results2018, and financial condition.

Recently issued accounting standards
Since the filing of 2009 Form 10-K, the FASB issued ASU No. 2010-1 through No. 2010-26. These ASUs entail technical corrections to existing guidance or affect guidance related to specialized industries or entities and therefore have minimal, if any, impact on the Company.
are included elsewhere in this registration statement.

Item

ITEM 3.  QuantitativeQUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are an emerging growth company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and Qualitative Disclosures About Market Risk.


Not applicable because we are a smaller reporting company.

Item 4T. Controls and Procedures.

not required to provide the information under this item. 

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified in the Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


Pursuant to Rule 13a-15(b) under the Securities Exchange Act, of 1934 (“Exchange Act”), the Company carried out an evaluation with the participation of the Company’s management, including the Company’s Chief Executive Officer (“CEO”) and the Company’s Chief Financial Officer (“CFO”),of the effectiveness of the Company’s disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report.December 31, 2018. Based upon that evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures arewere not effective as of March 31, 2019 due to ensurethe Company’s limited internal resources and lack of ability to have multiple levels of transaction review.

Management is in the process of determining how best to change our current system and implement a more effective system to insure that information required to be disclosed by the Company in the reports that the Company fileswe file or submitssubmit under the Exchange Act ishave been recorded, processed, summarized and reported within t he time periods specified inaccurately. Our management intends to develop procedures to address the SEC’s rules and forms, and that such information is accumulated and communicatedcurrent deficiencies to the Company’sextent possible given limitations in financial and manpower resources. While management includingis working on a plan, no assurance can be made at this point that the Company’s CEOimplementation of such controls and CFO, as appropriate, to allowprocedures will be completed in a timely decisions regarding required disclosure.


manner or that they will be adequate once implemented.

Changes in Internal Controls


Control over Financial Reporting

There have been no changes in the Company’sour internal controlcontrols over financial reporting that occurred during the quarter ended September 30, 2010March 31, 2019, that have materially affected, or are reasonably likely to materially affect, the Company’sour internal controlcontrols over financial reporting.


7

PART II - OTHER INFORMATION

Item

ITEM 1.  Legal Proceedings.

WeLEGAL PROCEEDINGS

There are currently not involvedno pending legal proceedings to which the Company is a party or in which any litigation that we believe could havedirector, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledgeCompany.  The Company’s property is not the subject of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.


pending legal proceedings.

Item

ITEM 1A. Risk Factors


Not applicable because weRISK FACTORS 

We are a smaller reporting company.

an emerging growth company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Item

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


None.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

Item

ITEM 3.  Defaults Upon Senior Securities.

DEFAULTS UPON SENIOR SECURITIES

None.

Item

ITEM 4.  (Removed & Reserved).

MINE SAFETY DISCLOSURES

Not applicable.

Item

ITEM 5.  Other Information.

Effective September 18, 2010, our board of directors accepted the resignation of Shaoping Lu as a member of the Board of Directors of the Company. The resignation was due to personal reasons and was not a result of any disagreements relating to the Company’s operations, policies or practices. 
OTHER INFORMATION

None.


Item 6.  Exhibits.

Exhibits

The following exhibits are included with this report.

 Exhibit No. 31.1  DescriptionCertification of Principal Executive Officer and Principal Financial Officer pursuant to Rule 13a-14(a)/15d-14(a)
   
 31.132.1 Certification of ChiefPrincipal Executive Officer and Principal Financial Officer pursuant to Section 302906 of Sarbanes Oxleythe Sarbanes-Oxley Act of 2002
   
 31.2101.INS  Certification of Chief Financial Officer pursuant to Section 302 of Sarbanes Oxley Act of 2002XBRL Instance Document
   
 32.1 101.SCH  Certification of Chief Executive Officer pursuant to Section 906 of Sarbanes Oxley Act of 2002XBRL Schema Document
   
 32.1101.CALXBRL Calculation Linkbase Document
  Certification of Chief Financial Officer pursuant to Section 906 of Sarbanes Oxley Act of 2002
101.DEFXBRL Definition Linkbase Document
101.LABXBRL Label Linkbase Document
101.PREXBRL Presentation Linkbase Document

8



SIGNATURES

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrantregistrant has duly caused this Reportreport to be signed on its behalf by the undersigned hereuntothereunto duly authorized.

 SHENTANG INTERNATIONAL, INC.
Dated: November 15, 2010  
Date: May 23, 2019By:  /s/ Zhongmin  Chen/s/ David Lazar
  
Zhongmin Chen
President,David Lazar, Chief Executive Officer and Chairman of the Board of Directors


Dated: November 15, 2010 By:/s/ Rong Li
Rong Li
Interim Chief Financial Officer
(principal executive officer and Principal Accounting Officer
principal financial and accounting officer)

14


 
9