Nevada | 98-0347883 | |
(State of other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Large accelerated filer | o | Accelerated filer | o | |
Non-accelerated filer | o | Smaller reporting company | þ | |
(Do not check if a smaller reporting company) |
Reference | Section Name | Page |
PART I | ||
1 | ||
7 | ||
10 | ||
10 | ||
10 | ||
PART II | ||
11 | ||
11 | ||
11 | ||
11 | ||
11 | ||
11 | ||
11 | ||
12 |
June 30, 2014 | December 31, 2013 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash | $ | 989 | $ | 12,842 | ||||
Total current assets | 989 | 12,842 | ||||||
Fixed Assets: | ||||||||
Automotive equipment | 25,859 | 25,859 | ||||||
Less, accumulated depreciation | 25,859 | 25,859 | ||||||
Net fixed assets | - | - | ||||||
Total Assets | $ | 989 | $ | 12,842 | ||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||||||||
Current Liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 44,135 | $ | 49,376 | ||||
Payroll and other taxes payable | 33,264 | 32,056 | ||||||
Loans from shareholder | (2,298 | ) | 17,781 | |||||
Amounts due to related parties | 48,410 | 24,582 | ||||||
Total current liabilities | 154,840 | 112,761 | ||||||
Stockholders’ Deficit: | ||||||||
Common stock: authorized 100,000,000 shares of .001 par value; 44,100,816shares issued and outstanding | 44,101 | 44,101 | ||||||
Additional paid in capital | 4,793,552 | 4,793,552 | ||||||
Deficit accumulated during development stage | (1,116,117 | ) | (1,062,616 | ) | ||||
Deficit accumulated prior to development stage | (3,879,122 | ) | (3,879,122 | ) | ||||
Accumulated other comprehensive income | 4,084 | 4,476 | ||||||
Total Amanasu Environment Corporation stockholders' deficit | (153,502 | ) | (99,609 | ) | ||||
Non controlling interest in subsidiary | (349 | ) | (310 | ) | ||||
Total stockholders' deficit | (153,851 | ) | (99,919 | ) | ||||
Total Liabilities and Stockholders' Deficit | $ | 989 | $ | 12,842 |
March 31, 2014 | December 31, 2013 | |||||||
ASSETS | ||||||||
Current Assets: | ||||||||
Cash | $ | 11,109 | $ | 11,842 | ||||
Certificates of deposit | 1,000 | 1,000 | ||||||
Total current assets | 12,109 | 12,842 | ||||||
Fixed Assets: | ||||||||
Automotive equipment | 25,859 | 25,859 | ||||||
Less, accumulated depreciation | 25,859 | 25,859 | ||||||
Net fixed assets | - | - | ||||||
Total Assets | $ | 12,109 | $ | 12,842 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
Current Liabilities: | ||||||||
Accounts payable and accrued expenses | $ | 70,584 | $ | 49,376 | ||||
Payroll and other taxes payable | 32,811 | 32,056 | ||||||
Loans from shareholder | 17,023 | 17,781 | ||||||
Advances from related parties | 20,778 | 13,548 | ||||||
Total current liabilities | 141,196 | 112,761 | ||||||
Stockholders’ Equity: | ||||||||
Common stock: authorized 100,000,000 shares of .001 par value; 44,100,816 issued and outstanding | 44,101 | 44,101 | ||||||
Additional paid in capital | 4,793,552 | 4,793,552 | ||||||
Deficit accumulated during development stage | (1,091,515 | ) | (1,062,616 | ) | ||||
Deficit accumulated prior to development stage | (3,879,122 | ) | (3,879,122 | ) | ||||
Accumulated other comprehensive income | 4,231 | 4,476 | ||||||
Total Amanasu Environment Corporation stockholders' equity | (128,753 | ) | (99,609 | ) | ||||
Non controlling interest in subsidiary | (334 | ) | (310 | |||||
Total stockholders' equity | (129,087 | ) | (99,919 | ) | ||||
Total Liabilities and Stockholders' Equity | $ | 12,109 | $ | 12,842 |
January 1, | ||||||||||||||||||||
2009 | ||||||||||||||||||||
(Date of | ||||||||||||||||||||
Commencement | ||||||||||||||||||||
of | ||||||||||||||||||||
Development | ||||||||||||||||||||
Stage) to | ||||||||||||||||||||
Three Month Periods | Six Month Periods | June 30, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | ||||||||||||||||
Revenue | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Expenses | 23,930 | 28,690 | 52,830 | 55,825 | 1,154,924 | |||||||||||||||
Operating Loss | (23,930 | ) | (28,690 | ) | (52,830 | ) | (55,825 | ) | (1,154,924 | ) | ||||||||||
Other Income | - | - | - | 388 | 388 | |||||||||||||||
Interest income | 1 | - | 1 | - | 13,108 | |||||||||||||||
Debt forgiveness | - | - | - | - | 13,781 | |||||||||||||||
Interest expense | (672 | ) | - | (672 | ) | - | (672 | ) | ||||||||||||
Net Loss | (24,601 | ) | (28,690 | ) | (53,801 | ) | (55,437 | ) | (1,128,319 | ) | ||||||||||
Net Loss Attributable to Noncontrolling Interest | - | - | - | - | 12,203 | |||||||||||||||
Net Loss Attributable to Amanasu Environment Corporation | (24,601 | ) | (28,690 | ) | (53,501 | ) | (55,437 | ) | (1,116,116 | ) | ||||||||||
Other Comprehensive Loss: | ||||||||||||||||||||
Gain (loss) on foreign currency conversion | (162 | ) | 336 | (431 | ) | 1,038 | 10,936 | |||||||||||||
Attributable to noncontrolling interest | 15 | - | 39 | (94 | ) | 11 | ||||||||||||||
Net Other Comprehensive Income | (147 | ) | 336 | (392 | ) | 944 | 10,947 | |||||||||||||
Total Comprehensive Loss | $ | (24,748 | ) | $ | (28,354 | ) | $ | (53,893 | ) | $ | (54,493 | ) | $ | (1,105,169 | ) | |||||
Net Loss Per Share - basic and diluted | $ | - | $ | - | $ | - | $ | - | ||||||||||||
Weighted average number of shares outstanding | 44,100,816 | 44,000,816 | 44,100,816 | 44,000,816 |
2014 | 2013 | January 1, 2009 (Date of Commencement of Development Stage) to March 31, 2014 | ||||||||||
Revenue | $ | - | $ | - | $ | - | ||||||
Expenses | (28,899 | ) | (27,135 | ) | (1,130,994 | ) | ||||||
Operating Loss | (28,899 | ) | (27,135 | ) | (1,130,994 | ) | ||||||
Other Income | - | 388 | 388 | |||||||||
Interest income | - | - | 13,107 | |||||||||
Debt forgiveness | - | - | 13,781 | |||||||||
Net Loss | (28,899 | ) | (26,747 | ) | (1,103,718 | ) | ||||||
Net Loss Attributable to Noncontrolling Interest | - | - | 12,203 | |||||||||
Net Loss Attributable to Amanasu Environment Corporation | (28,899 | ) | (26,747 | ) | (1,091,515 | ) | ||||||
Other Comprehensive Loss: | ||||||||||||
Gain (loss) on foreign currency conversion | (269 | ) | 607 | 11,098 | ||||||||
Attributable to noncontrolling interest | 24 | - | (4 | ) | ||||||||
Net Other Comprehensive Income | (245 | ) | 607 | 11,094 | ||||||||
Total Comprehensive Loss | $ | (29,144 | ) | $ | (26,140 | ) | $ | (1,080,421 | ) | |||
Net Loss Per Share - basic and diluted | $ | - | $ | - | ||||||||
Weighted average number of shares outstanding | 44,100,816 | 44,000,816 |
2014 | 2013 | January 1, 2009 (Date of Commencement of Development Stage) to June 30, 2014 | ||||||||||
CASH FLOWS FROM OPERATIONS: | ||||||||||||
Net loss | $ | (53,501 | ) | $ | (55,437 | ) | $ | (1,128,320 | ) | |||
Adjustments to reconcile net loss to net cash consumed by operating activities: | ||||||||||||
Charges not requiring the outlay of cash: | ||||||||||||
Depreciation | - | - | 6,074 | |||||||||
Cancellation of debts | - | - | (13,781 | ) | ||||||||
Write offs of bad debts | - | - | 138,931 | |||||||||
Changes in assets and liabilities: | ||||||||||||
Increases in accounts payable and accrued expenses | 21,042 | 12,877 | 48,684 | |||||||||
Increases in taxes payable | - | - | 34,676 | |||||||||
Increase in employee loan | - | - | (2,900 | ) | ||||||||
Net Cash Consumed By Operating Activities | (32,459 | ) | (42,560 | ) | (916,636 | ) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Cash transferred on sale of subsidiary | - | - | (270 | ) | ||||||||
Redemptions of certificates of deposit | - | 3,000 | 695,000 | |||||||||
Loans to officer | - | - | (68,635 | ) | ||||||||
Officer repayments | - | - | 53,260 | |||||||||
Net Cash Provided By Investing Activities | - | 3,000 | 679,355 | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Advances from shareholder | - | 50,000 | 50,000 | |||||||||
Repayment from shareholder advances | (6,465 | ) | - | 11,639 | ||||||||
Officer advances | 20,000 | - | 40,000 | |||||||||
Sales of capital stock | - | - | 100,000 | |||||||||
Advance from affiliate | 7,071 | 3,800 | 15,046 | |||||||||
Short term loans | - | - | 14,212 | |||||||||
Net Cash Provided By Financing Activities | 20,606 | 53,800 | 230,897 | |||||||||
Effect on Cash of Exchange Rate Changes | - | 1 | (210 | ) | ||||||||
Net Change in Cash Balances | (11,853 | ) | 14,241 | (6,594 | ) | |||||||
Cash balance, beginning of period | 12,842 | 3,600 | 7,583 | |||||||||
Cash balance, end of period | $ | 989 | $ | 17,841 | $ | 989 |
2014 | 2013 | January 1, 2009 (Date of Commencement of Development Stage) to March 31, 2014 | ||||||||||
CASH FLOWS FROM OPERATIONS: | ||||||||||||
Net loss | $ | (28,899 | ) | $ | (26,747 | ) | $ | (1,103,718 | ) | |||
Adjustments to reconcile net loss to net cash consumed by operating activities: | ||||||||||||
Charges not requiring the outlay of cash: | ||||||||||||
Depreciation | - | - | 6,074 | |||||||||
Cancellation of debts | - | - | (13,781 | ) | ||||||||
Write offs of bad debts | - | - | 138,931 | |||||||||
Changes in assets and liabilities: | ||||||||||||
(Decrease) increase in accounts payable and accrued expenses | 21,094 | (4,411 | ) | 64,788 | ||||||||
(Decrease) increase in taxes payable | - | - | ) | 33,468 | ||||||||
Increase in employee loan | - | - | (2,900 | ) | ||||||||
Net Cash Consumed By Operating Activities | (7,805 | ) | (31,158 | ) | (877,138 | ) | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Cash transferred on sale of subsidiary | - | - | (270 | ) | ||||||||
Redemptions of certificates of deposit | - | 3,000 | 695,000 | |||||||||
Loans to officer | - | - | (68,635 | ) | ||||||||
Officer repayments | - | - | 53,260 | |||||||||
Net Cash Provided By Investing Activities | - | 3,000 | 679,355 | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Advances from shareholder | - | 50,000 | 50,000 | |||||||||
Repayment from shareholder advances | 21,870 | |||||||||||
Sales of capital stock | - | - | 100,000 | |||||||||
Advance from affiliate | 7,071 | 3,800 | 15,046 | |||||||||
Short term loans | - | - | 14,212 | |||||||||
Net Cash Provided By Financing Activities | 7,071 | 53,800 | 201,128 | |||||||||
Effect on Cash of Exchange Rate Changes | 1 | - | 181 | |||||||||
Net Change in Cash Balances | (733 | ) | 25,642 | 3,526 | ||||||||
Cash balance, beginning of period | 11,842 | 3,600 | 7,583 | |||||||||
Cash balance, end of period | $ | 11,109 | $ | 29,242 | $ | 11,109 |
THREE MONTH PERIODS | THREE MONTH PERIODS | SIX MONTH PERIODS | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Travel | $ | 6,635 | $ | 4,193 | $ | 10,522 | $ | 4,673 | $ | 17,040 | $ | 8,866 | ||||||||||
Rent | 8,757 | 8,400 | 8,400 | 8,757 | 17,157 | 17,157 | ||||||||||||||||
Professional Fees | 9,180 | 10,000 | 2,150 | 14,928 | 11,330 | 14,928 |
Certification Pursuant To Section 302 Of The Sarbanes-Oxley Act Of 2002. | |
Certification Pursuant To Section 906 Of The Sarbanes-Oxley Act Of 2002. | |
101 INS | XBRL Instance Document* |
101 SCH | XBRL Schema Document* |
101 CAL | XBRL Calculation Linkbase Document* |
101 DEF | XBRL Definition Linkbase Document* |
101 LAB | XBRL Labels Linkbase Document* |
101 PRE | XBRL Presentation Linkbase Document* |
Amanasu Environment Corporation | |||
By: | /s/ Atsushi Maki | ||
Atsushi Maki | |||
Chief Executive Officer | |||
Chief Financial Officer | |||
Chief Accounting Officer |