Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2020 | Jan. 13, 2021 | Mar. 31, 2020 | |
Document Information Line Items | |||
Entity Registrant Name | CX Network Group, Inc. | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Common Stock, Shares Outstanding | 21,376,918 | ||
Entity Public Float | $ 4,693,584 | ||
Amendment Flag | false | ||
Entity Central Index Key | 0001502557 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Sep. 30, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Entity Shell Company | false | ||
Entity Ex Transition Period | false | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 682 | $ 5,858 |
Accounts receivable | 453 | |
Prepaid expenses | 1,051 | |
Security deposit | 4,204 | |
Other receivables | 3,575 | 2,490 |
Total Current Assets | 4,257 | 14,056 |
Property and equipment, net | 14,380 | |
Total Non-current Assets | 14,380 | |
Total Assets | 4,257 | 28,436 |
CURRENT LIABILITIES: | ||
Due to related parties | 615,966 | 460,899 |
Accrued liabilities and other payables | 187,818 | 91,528 |
Short-term loans | 58,064 | 57,497 |
Total Current Liabilities | 861,848 | 609,924 |
Total Liabilities | 861,848 | 609,924 |
Commitments and contingencies | ||
STOCKHOLDERS’ DEFICIT: | ||
Common stock, $.0001 par value, 40,000,000 shares authorized; 21,376,918 shares issued and outstanding at September 30, 2020 and 2019 | 2,138 | 2,138 |
Additional paid-in capital | 1,743,629 | 1,743,629 |
Accumulated deficit | (2,567,413) | (2,301,435) |
Accumulated other comprehensive loss | (35,945) | (25,820) |
Total Stockholders’ Deficit | (857,591) | (581,488) |
Total Liabilities and Stockholders’ Deficit | $ 4,257 | $ 28,436 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2020 | Sep. 30, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 21,376,918 | 21,376,918 |
Common stock, shares outstanding | 21,376,918 | 21,376,918 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Income Statement [Abstract] | ||
REVENUES | $ 83,851 | |
COST OF REVENUES | 12,877 | |
GROSS PROFIT | 70,974 | |
OPERATING EXPENSES: | ||
General and administrative expenses | $ 255,152 | 333,373 |
Research and development expenses | 14,631 | 16,604 |
Total Operating Expenses | 269,783 | 349,977 |
LOSS FROM OPERATIONS | (269,783) | (279,003) |
OTHER INCOME | 3,805 | 72,258 |
LOSS BEFORE INCOME TAXES | (265,978) | (206,745) |
INCOME TAXES | ||
NET LOSS | (265,978) | (206,745) |
OTHER COMPREHENSIVE GAIN (LOSS): | ||
Foreign currency translation adjustment | (10,125) | 4,359 |
COMPREHENSIVE LOSS | $ (276,103) | $ (202,386) |
NET LOSS PER COMMON SHARE: | ||
Basic & Diluted (in Dollars per share) | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||
Basic & Diluted (in Shares) | 21,376,918 | 21,360,479 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Retained Deficit | Accumulated Other Comprehensive Loss | Total |
Balance at Sep. 30, 2018 | $ 2,122 | $ 1,695,645 | $ (2,094,690) | $ (30,179) | $ (427,102) |
Balance (in Shares) at Sep. 30, 2018 | 21,216,918 | ||||
Common stock issued for cash | $ 16 | 47,984 | 48,000 | ||
Common stock issued for cash (in Shares) | 160,000 | ||||
Net loss | (206,745) | (206,745) | |||
Foreign currency translation adjustment | 4,359 | 4,359 | |||
Balance at Sep. 30, 2019 | $ 2,138 | 1,743,629 | (2,301,435) | (25,820) | (581,488) |
Balance (in Shares) at Sep. 30, 2019 | 21,376,918 | ||||
Net loss | (265,978) | (265,978) | |||
Foreign currency translation adjustment | (10,125) | (10,125) | |||
Balance at Sep. 30, 2020 | $ 2,138 | $ 1,743,629 | $ (2,567,413) | $ (35,945) | $ (857,591) |
Balance (in Shares) at Sep. 30, 2020 | 21,376,918 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (265,978) | $ (206,745) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation expense | 14,643 | 20,069 |
Loss on disposal of property and equipment | 10,874 | |
Provision of allowance for doubtful accounts | 4,029 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 461 | 1,952 |
Prepaid expenses | 3,725 | 747 |
Other receivables | 3,220 | (216) |
Accrued liabilities and other payables | 95,600 | 21,856 |
NET CASH FLOWS USED IN OPERATING ACTIVITIES | (144,300) | (151,463) |
NET CASH FLOWS USED IN INVESTING ACTIVITIES | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayments to related parties | (2,997) | (76,955) |
Proceeds from related parties | 157,640 | 164,466 |
Proceeds from stock issuance | 48,000 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 154,643 | 135,511 |
EFFECT OF FOREIGN EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (15,519) | (131) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (10,343) | (16,083) |
CASH AND CASH EQUIVALENTS - beginning of year | 5,858 | 21,941 |
CASH AND CASH EQUIVALENTS - end of year | 682 | 5,858 |
Cash paid for: | ||
Interest | ||
Income taxes | ||
Non-cash financing and investing activities: | ||
Expenses paid by related party on behalf of the Company | 3,066 | $ 4,060 |
Derecognition of operating lease right-of-use asset and liability | $ 10,566 |
Organization and Going Concern
Organization and Going Concern | 12 Months Ended |
Sep. 30, 2020 | |
Organization And Going Concern [Abstract] | |
ORGANIZATION AND GOING CONCERN | NOTE 1 – ORGANIZATION AND GOING CONCERN ORGANIZATION The Company was incorporated in the State of Florida on September 3, 2010 under the name of “mLight Tech, Inc.” (“MLGT”). On July 11, 2017, MLGT merged with and into CX Network Group, Inc. (“CXKJ”), a Nevada corporation, with CXKJ as the surviving corporation that operates under the name “CX Network Group, Inc.” (the “Name Change”), pursuant to an agreement and plan of merger (the “Merger Agreement”) dated July 3, 2017. Pursuant to the Merger Agreement, immediately after the effective time of the Merger, the Company’s corporate existence is governed by the laws of the State of Nevada and the Articles of Incorporation and bylaws of CXKJ (the “Domicile Change”), and each outstanding share of MLGT’s common stock, par value $0.0001 per share was converted into 0.0667 outstanding share of common stock of CXKJ, par value $0.0001 per share at a one-for-fifteen reverse split ratio (the “Reverse Stock Split”) which resulted in reclassification of capital from par value to capital in excess of par value. Immediately prior to the effectiveness of the reverse stock split, we had 217,300,000 shares of common stock of MLGT issued and outstanding. Immediately upon the effectiveness of the reverse stock split, we had 14,486,670 shares of common stock of CXKJ issued and outstanding. The Name Change, Domicile Change, and Reverse Stock Split went effective on June 12, 2017. Subsequently, the Company’s trading symbol for its common stock was changed to “CXKJ”. On March 20, 2018, CXKJ entered into a share exchange agreement (the “Share Exchange”) with Chuangxiang Holdings Inc. (“CX Cayman”). Under the Share Exchange, CX Network Group, Inc. issued an aggregate of 5,350,000 shares of common stock, par value $0.0001 per share to the shareholders of CX Cayman in exchange for 100% of the issued and outstanding equity securities of CX Cayman. The Share Exchange was closed on March 20, 2018. As a result of the Share Exchange, CX Cayman became the Company’s wholly-owned subsidiary. CX Cayman was incorporated on February 4, 2016 under the laws of Cayman Islands. Chuangxiang (Hong Kong) Holdings Limited (“CX HK”) was incorporated on February 23, 2016 and became CX Cayman’s wholly owned subsidiary on December 1, 2016. CX HK operates through its subsidiary, Shenzhen Chuangxiang Network Technology (Shenzhen) Limited (“CX Network”). CX Network was incorporated by CX HK on April 12, 2016 under the laws of People’s Republic of China (“PRC”) as a wholly foreign owned enterprise. Shenzhen Chuangxiang Network Technology Limited (“Shenzhen CX”) is a limited liability company formed under the laws of PRC on August 14, 2015. Shenzhen CX became a variable interest entity (“VIE”) of CX Network through a series of contractual arrangements entered into on April 20, 2017. CX Network controls Shenzhen CX through agreements and arrangements that absorbs operating risk, as if Shenzhen CX is a wholly owned subsidiary of CX Network. Shenzhen CX is engaged in the business of developing and operating membership-based social network, dating and mobile gaming, and interactive live broadcast platforms. The transaction has been treated as a recapitalization of CX Cayman and its subsidiaries, with CXKJ (the legal acquirer of CX Cayman and its subsidiaries) considered the accounting acquiree, and CX Cayman (the legal acquiree) considered the accounting acquirer. Accordingly, CX Cayman’s assets, liabilities and results of operations will become the historical financial statements of the registrant, and CXKJ’s assets, liabilities and results of operations will be consolidated with CX Cayman effective as of the date of the closing of the Share Exchange (March 20, 2018). The Company did not recognize goodwill or any intangible assets in connection with the transaction. All costs related to the transaction are being charged to operations as incurred. CX Cayman received cash of $145 and assumed $249,966 liabilities upon execution of the Share Exchange. The 5,350,000 shares of common stock issued in conjunction with the Share Exchange have been presented as outstanding for all periods. VIE Arrangements In April 2017, CX Network, the wholly owned subsidiary of CX HK, which is the wholly owned subsidiary of CX Cayman, Shenzhen CX and the shareholders of Shenzhen CX entered into a series of contractual agreements for Shenzhen CX to qualify as variable interest entity or VIE (the “VIE Agreements”). The VIE Agreements are as follows: Consulting Service Agreement Pursuant to the terms of certain Exclusive Technology Consulting Service Agreement dated April 20, 2017, between CX Network and Shenzhen CX (the “ Consulting Service Agreement Management Agreement Pursuant to the terms of certain Management Agreement dated April 20, 2017, among CX Network, Shenzhen CX and the shareholders of Shenzhen CX (the “ Management Agreement Irrevocable Powers of Attorney The shareholders of Shenzhen CX have each executed an irrevocable power of attorney, dated April 20, 2017, to appoint CX Network as their exclusive attorneys-in-fact to vote on their behalf on all Shenzhen CX’s matters requiring shareholder approval. The term of each power of attorney is valid for 10 years but may be extended upon CX Network’s request. Exclusive Option Agreement Pursuant to the terms of certain Exclusive Option Agreement dated April 20, 2017, among CX Network, Shenzhen CX, and the shareholders of Shenzhen CX (the “ Exclusive Option Agreement Option Equity Pledge Agreement Pursuant to the terms of certain Equity Pledge Agreement dated April 20, 2017, among CX Network and the shareholders of Shenzhen CX (the “ Pledge Agreement Agreements Intellectual Property License Agreement Pursuant to the terms of certain intellectual property license agreement dated April 20, 2017 between the CX Network and Shenzhen CX (the “ IP License Agreement The term of the IP License Agreement is 10 year from April 20, 2017 to April 20, 2027. The IP License Agreement can be renewed subject to a renewal notice from CX Network 2 months prior to its expiration. Additionally, both parties can terminate this IP License Agreement if either party commits a material breach and fails to cure such breach after 10 days of receiving the notice to cure from the other party. The License contains certain quality control requirements, branding and advertising guidelines and approval processes that CX Network is required to maintain. Upon executing the above agreements, Shenzhen CX is considered a Variable Interest Entity (“VIE”) and CX Network is the primary beneficiary. Accordingly, Shenzhen CX is consolidated into CX Network under the guidance of FASB Accounting Standards Codification (“ASC”) 810, Consolidation. Risks in relation to the VIE structure If CX Cayman’s ownership structure and contractual arrangements are found to be in violation of any PRC laws or regulations, or if CX Cayman is found to be required but failed to obtain any of the permits or approvals for its mobile apps development business, the relevant PRC regulatory authorities, including the Cyberspace Administration of China or the CAC, which regulates the mobile app service industry in China, Ministry of Commerce of PRC, or the MOFCOM, which regulates the foreign investment in China would have broad discretion in imposing fines or punishments upon us for such violations, including: ● revoking the business and operating licenses of Shenzhen CX; ● discontinuing or restricting any related-party transactions between Shenzhen CX and our affiliated entities; ● imposing fines and penalties, or imposing additional requirements for our operations which we, Shenzhen CX or our affiliated entities may not be able to comply with; ● revoking the preferential tax treatment available to us; ● requiring us to restructure the ownership and control structure; or ● restricting or prohibiting our use of the proceeds of this offering to finance our business and operations in China, particularly the expansion of our business through strategic acquisitions. As of the date of this report, similar ownership structure and contractual arrangements have been used by many China-based companies listed overseas, including a number of internet companies listed in the United States. To our knowledge, none of the fines or punishments listed above has been imposed on any of these public companies. However, we cannot assure you that such fines or punishments will not be imposed on us or any other companies in the future. If any of the above fines or punishments is imposed on us, our business, financial condition and results of operations could be materially and adversely affected. As of September 30, 2020 and 2019, the carrying amount and classification of the assets and liabilities in CX Cayman’s balance sheets that relate to CX Cayman’s Variable Interest Entities is as follows: September 30, September 30, ASSETS Cash $ 456 $ 3,381 Accounts receivable - 453 Prepaid expenses - 1,051 Security deposits, current - 4,204 Other receivable 3,575 2,284 Total current assets of VIE 4,031 11,373 Property and equipment, net - 14,380 Total non-current assets of VIE - 14,380 Total assets of VIE $ 4031 $ 25,753 LIABILITIES Accrued liabilities and other payables $ 15,889 $ 8,732 Due to related parties 143,442 127,445 Total current liabilities of VIE 159,341 136,177 Total liabilities of VIE $ 159,341 $ 136,177 As used in this report, unless otherwise indicated, the terms “we” and “us” refer to CX Network Group, Inc., a Nevada corporation (previously known as “mLight Tech, Inc.”, a Florida corporation,), its wholly owned subsidiaries CX Cayman, Chuangxiang (Hong Kong) Holdings Limited (“CX HK”), Chuangxiang Network Technology (Shenzhen) Limited (“CX Network”) and Shenzhen Chuangxiang Network Technology Limited (“Shenzhen CX”), which is controlled by us via various contracts. GOING CONCERN In assessing the Company’s liquidity, the Company monitors and analyzes its cash and cash equivalents and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. As of September 30, 2020, the Company’s current liabilities exceeded the current assets with $857,591, its accumulated deficit was $2,567,413 and the Company has incurred losses since inception. Besides based on the market responses, the Company started to suspend the operation of the Little Love and Hotchat in November 2019. After July 2020, the Company completely ceased the operations of the Little Love and Hotchat. None of the Company’s stockholders, officers or directors, or third parties, are under any obligation to advance us funds, or to invest in the Company. Accordingly, the Company may not be able to obtain additional financing. If the Company is unable to raise additional capital, the Company may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations, suspending the pursuit of our business plan, and reducing overhead expenses. In the coming years, the Company plans to develop app and related E-commerce business to increase revenues to meet its future cash flow requirements. However, the Company cannot provide any assurance on the successful development of the Company’s contemplated plan of operations or the financing that will be available to us on commercially acceptable terms, if at all. These conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of CXKJ, its wholly owned subsidiaries, CX Cayman, CX HK, CX Network, and its VIE, Shenzhen CX. All intercompany transactions and balances have been eliminated in the consolidation and all necessary adjustments have been made to present the financial statements in accordance with U.S. GAAP. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including valuation of allowance for deferred tax assets and useful life of properties and equipment. Actual results could differ from those estimates. Net loss per common share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. At September 30, 2020 and 2019, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented. Fair value of financial instruments The Company follows the provisions of ASC 820, “Fair Value Measurements and Disclosures.” ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1-Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2-Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other the quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3-Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash and cash equivalents, accounts receivable, other receivable, prepaid expenses, current security deposit, accrued liabilities and other payables, and short-term loans approximate their fair market value based on the short-term maturity of these instruments. Management believes it is not practical to estimate the fair value of due to related party because the transactions cannot be assumed to have been consummated at arm’s length, the terms are not deemed to be market terms, there are no quoted values available for these instruments, and an independent valuation would not be practical due to the lack of data regarding similar instruments, if any, and the associated potential costs. Risks and uncertainties The Company’s operations are substantially carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations maybe substantially influenced by the political, economic and legal environments in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the PRC, and no deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and all highly liquid instruments with original maturities of three months or less when purchased. Accounts receivable Accounts receivable primarily represents the cash due from customers, third-party application stores and other payment channels, net of allowance for doubtful accounts. The Company makes estimates for the allowance for doubtful accounts based upon its assessment of various factors, including the age of accounts receivable balances, credit quality of third-party application stores and other payment channels, current economic conditions and other factors that may affect their ability to pay. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Provision for doubtful accounts was $2,894 and $nil for the year ended September 30, 2020 and 2019, respectively. Property and equipment, net Property and equipment are recorded at cost less accumulated depreciation and amortization. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization are computed based on cost, less their estimated residual value, if any, using the straight-line method over the estimated useful lives as follows: Office equipment 3 years Furniture and fixtures 3 years Impairment of long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary. The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. The Company did not record any impairment charges for the years ended September 30, 2020 and 2019. Advertising costs Advertising costs are classified as selling expenses and are expensed in the period incurred and represent online marketing, including fees paid to search engines, and online and offline marketing. Advertising expense was $nil for both of the years ended September 30, 2020 and 2019. Income taxes The Company utilizes ASC Topic 740, “Income taxes”, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 “Income taxes” clarifies the accounting for uncertainty in tax positions. This interpretation requires that an entity recognizes in the financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the consolidated statements of operations. The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2020 and 2019, the Company did not have any unrecognized tax benefits. Revenue recognition Effective October 1, 2018, the Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) using the modified retrospective method. Results for the reporting period beginning after October 1, 2018 are presented under ASC 606, while prior period amounts have not been adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605. Management has determined that the adoption of ASC 606 did not impact the Company’s previously reported financial statements in any prior period nor did it result in a cumulative effect adjustment to opening retained earnings. Under ASC 606, the Company recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. The Company currently recognizes revenue from application users in the form of membership subscription and à la carte online credit purchases. Membership subscription is a service package which enables members to enjoy additional functions and privileges. Members pay in advance, primarily by using a debit card or through mobile app stores, and, subject to certain conditions identified in the Company’s terms and conditions, all purchases are final and nonrefundable. Fees collected, in advance for membership subscription, are deferred and recognized as revenue using the straight-line method over the terms of the applicable membership period, which primarily range from one to three months. Membership subscription revenue is insignificant for the years ended September 30, 2019 and 2018. À la carte online credit purchases are non-refundable and the risk passes to users when users pay for à la carte features. Revenue from the purchase of à la carte features is recognized upon users paying for the purchase. In the year ended September 30, 2019, the Company also generated revenue from development and sale of software. Revenue from development and sale of software is recognized when the software is delivered to and accepted by the customer. Revenue was recorded on a gross basis, net of surcharges and value added tax (“VAT”) of gross sales. The Company recorded revenue on a gross basis because the Company has the following indicators for gross reporting: is the primary obligor of the sales arrangements has latitude in establishing prices, has discretion in suppliers’ selection and assumes credit risks on receivables from customers. Cost of revenues Cost of revenues primarily includes bandwidth costs, professional expenses associated with maintenance of mobile platform, and labor costs. Foreign currency translation The reporting currency of the Company is the U.S. dollar. The functional currency of Shenzhen CX and CX Network is the local currency, the Chinese Renminbi (“RMB”) as PRC is the primary economic environment in which they operate. The functional currency of CX HK is Hong Kong Dollar (the “HKD”). The Company’s subsidiaries or VIE with functional currency of RMB translate their operating results and financial positions into the U.S. dollar, the Company’s reporting currency. Results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in other comprehensive income in the statement of stockholders’ equity. The Company does not enter any material transaction in foreign currencies and accordingly, transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company. Accumulated other comprehensive loss Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ deficit, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss for the years ended September 30, 2020 and 2019 included net loss and unrealized loss (gain) from foreign currency translation adjustments. Research and development expenses Research and development expenses include salaries and benefits for research and development personnel, depreciation expenses associated with the research and development activities, and other related expenses associated with product development. The Company’s research and development activities primarily consist of the research and development of new features for its mobile platform and its self-developed mobile applications. The Company has expensed all research and development expenses when incurred. Related parties Parties are considered to be related to the Company if the parties that, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. Operating leases On October 1, 2019, the Company adopted Accounting Standards Update (ASU) 2016-02, Leases (as amended by ASU 2017-13, 2018-01, 2018-10 & 11, 2018-20, and 2019-01, collectively ASC Topic 842), using the modified retrospective method. The Company elected the transition method which allows entities to initially apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As a result of electing this transition method, previously reported financial information has not been restated to reflect the application of the new standard to the comparative periods presented. The Company elected the package of practical expedients permitted under the transition guidance within ASC 842, which among other things, allows the Company to carry forward certain historical conclusions reached under ASC Topic 840 regarding lease identification, classification, and the accounting treatment of initial direct costs. The Company elected not to record assets and liabilities on its consolidated balance sheet for new or existing lease arrangements with terms of 12 months or less. The Company recognizes lease expenses for such lease on a straight-line basis over the lease term. The primary impact of applying ASC Topic 842 is the initial recognition of approximately $15,000 of lease liability and right-of-use asset on the Company’s consolidated balance sheet as of October 1, 2019, for lease classified as operating lease under ASC Topic 840, as well as enhanced disclosure of the Company’s leasing arrangement. There is no cumulative effect to accumulated deficit or other components of equity recognized as of October 1, 2019 and the adoption of this standard did not impact the consolidated statement of operations and comprehensive loss. The Company does not have finance lease arrangements as of June 30, 2020. See Note 8 for further discussion. New accounting pronouncements In February 2018, the FASB released ASU 2018-2, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” This standard update addresses a specific consequence of the Tax Cuts and Jobs Act (the “Tax Act”) and allows a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the Tax Act. Consequently, the update eliminates the stranded tax effects that were created as a result of the historical U.S. federal corporate income tax rate to the newly enacted U.S. federal corporate income tax rate. The Company is required to adopt this standard in the first quarter of fiscal year 2020, with early adoption permitted. The amendments in this update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company adopted this ASU in the first quarter of 2020 and the new standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. This ASU is to be applied on a prospective basis for certain modified or new disclosure requirements, and all other amendments in the standard are to be applied on a retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted this ASU in the first quarter of 2020 and the new standard did not have a material impact on the consolidated financial statements. In December 18, 2019, the FASB issued ASU 2019-12, income Taxes — Simplifying the Accounting for Income Taxes serves to simplify the accounting for income taxes by removing certain following Codification exceptions, including exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment. This guidance will be effective after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of the new guidance and do not expect the adoption of this guidance will have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, Investments—Equity Securities, Investments—Equity Method and Joint Ventures, and Derivatives and Hedging, which clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. This guidance will be effective in the first quarter of 2021 on a prospective basis, with early adoption permitted. The Company is currently evaluating the impact of the new guidance and do not expect the adoption of this guidance will have a material impact on the consolidated financial statements. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
ACCOUNTS RECEIVABLE | NOTE 3 – ACCOUNTS RECEIVABLE At September 30, 2020 and 2019, accounts receivable consisted of the following: September 30, September 30, Accounts receivable $ 2,986 $ 453 Allowance for doubtful accounts (2,986 ) - $ - $ 453 Provision for doubtful accounts was $2,894 and $nil for the year ended September 30, 2020 and 2019, respectively. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Sep. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
PROPERTY AND EQUIPMENT, NET | NOTE 4 – PROPERTY AND EQUIPMENT, NET At September 30, 2020 and 2019, property and equipment consisted of the following: September 30, September 30, Office equipment $ 31,132 $ 29,625 Furniture and fixtures 18,387 17,497 Sub-total 49,519 47,122 Less: accumulated depreciation (49,519 ) (32,742 ) Foreign currency translation Property and equipment, net $ - $ 14,380 For the years ended September 30, 2020 and 2019, depreciation expense amounted to $14,643 and $20,069, respectively, which is included in general and administrative expenses, research and development expenses and cost of revenues. |
Short-Term Loans
Short-Term Loans | 12 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
SHORT-TERM LOANS | NOTE 5 – SHORT-TERM LOANS As of September 30, 2020 and 2019, the balance of the short-term loans was $58,064 and 57,497, respectively. The amount represents loans borrowed from an individual and a company that are unsecured, no interest bearing and due on demand. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 – INCOME TAXES The Company accounts for income taxes pursuant to the accounting standards that requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carryforwards. Additionally, the accounting standards require the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets. The Company and its subsidiaries file separate income tax returns. United States CXKJ is incorporated in the State of Nevada and is subject to the United States federal income tax. No provision for income taxes in the U.S. has been made as the Company has no U.S. taxable income for the years ended September 30, 2020 and 2019. On December 22, 2017, the Tax Cut and Jobs Act (“Tax Act”) was signed into law. The Tax Act introduced a broad range of tax reform measures that significantly changed the federal income tax laws. The provisions of the Tax Act may have a significant impact on the Company, which includes the permanent reduction of the corporate income tax rate from 35% to 21% effective for tax years including or commencing on January 1, 2018, one-time transition tax on post-1986 foreign unremitted earnings, provision for Global Intangible Low Tax Income (“GILTI”), deduction for Foreign Derived Intangible Income (“FDII”), repeal of the corporate alternative minimum tax, limitation of various business deductions, and modification of the maximum deduction of net operating loss with no carryback but indefinite carryforward provision. Many provisions in the Tax Act are generally effective in tax years beginning after December 31, 2017. The Company has suffered recurring losses from operations and retained an accumulated deficit of $2,567,413 and $2,301,435 as of September 30, 2020 and 2019, respectively, therefore there was no provision of the tax on GILTI for the year ended September 30, 2020 and 2019. Cayman Islands CX Cayman is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, CX Cayman is not subject to tax on income or capital gains. In addition, upon payments of dividends by CX Cayman, no Cayman Islands withholding tax is imposed. Hong Kong CX HK is incorporated in Hong Kong and Hong Kong’s profits tax rate is 8.25% for the first $0.26 million (HK$2 million), the excess part will be taxed at 16.5%. CX HK did not earn any income that was derived in Hong Kong for the years ended September 30, 2020 and 2019 and therefore, CX HK was not subject to Hong Kong profits tax for the years reported. PRC The PRC’s statutory income tax rate is 25%. The Company’s subsidiary and VIE registered in PRC are subject to income tax rate of 25%, unless otherwise specified. CX Network did not generate taxable income in the PRC for the years ended September 30, 2020 and 2019. Management estimated that CX Network will not generate any taxable income in the future. Shenzhen CX was incorporated in the PRC. For year ended September 30, 2020, Shenzhen CX incurred net operating losses and, accordingly, no provision for income taxes has been recorded. For the year ended September 30, 2019, Shenzhen CX generated taxable income, but no provision for income taxes has been recorded since the amount is fully deducted due to net operating loss carry forwards. In addition, a full valuation allowance has been provided against Shenzhen CX’s deferred income tax assets due to the uncertainty of the realization of any tax assets. At September 30, 2020 and 2019, Shenzhen CX had $1,820,097 and $1,774,343 of net operating losses, respectively. The net operating loss carry forwards, if not utilized, will begin to expire in 2020. The components of Shenzhen CX’s deferred tax assets are as follows: September 30, September 30, Deferred tax assets $ 455,024 $ 443,586 Less: Valuation allowance (455,024 ) (443,586 ) Deferred tax assets, net $ - $ - |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Sep. 30, 2020 | |
Stockholders' Equity Note [Abstract] | |
STOCKHOLDERS' DEFICIT | NOTE 7 – STOCKHOLDERS’ DEFICIT In October and December 2018, the Company entered into subscription agreements with certain purchasers pursuant to which the Company offered to the purchasers, in a registered direct offering, an aggregate of 160,000 shares of common stock, par value $0.0001 per share, with a purchase price of $0.30 per share. The Company received gross proceeds of $48,000. As of September 30, 2020 and 2019, there were 21,376,918 shares issued and outstanding, respectively. |
Operating Lease
Operating Lease | 12 Months Ended |
Sep. 30, 2020 | |
Disclosure Text Block [Abstract] | |
OPERATING LEASE | NOTE 8 – OPERATING LEASE On May 10, 2018, the Company entered into a lease agreement for its office with a monthly rent of RMB15,000 (approximately $2,130) and a term of two years. Effective October 1, 2019, the Company initially recognized operating lease liability of $14,714 and corresponding right-of-use asset of $15,332 based on the present value of the remaining minimum rental payments under current lease standards for existing operating lease. The discount rate utilized in such present value calculation was 4.80% based on an estimate of the Company’s incremental borrowing rate. In December 2019, the Company has terminated the lease. During the year ended September 30, 2020, the Company had operating lease expense of $4,260. The remaining lease liability in the amount of $10,566 has been extinguished due to the lease termination in December 2019. The loss related to termination was $2,130 which is included in other income (expenses). As of September 30, 2020, there is no operating lease right-of-use asset and operating lease liability in the consolidated balance sheet. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS The related parties consist of the following: Name of Related Party Nature of Relationship Jiyin Li Chairman Huibin Su Chief Executive Officer and Chief Financial Officer Chaoran Zhang Significant Shareholder of Shenzhen CX Due to related parties Due to related parties consist of the following: September 30, September 30, Jiyin Li $ 1,290 $ 1,279 Huibin Su 599,950 445,607 Chaoran Zhang 14,726 14,013 Total $ 615,966 $ 460,899 The balance of due to related parties represents expense paid by related parties on behalf of the Company and the loans the Company obtained from related parties for working capital purpose. The loans owed to the related parties are interest free, unsecured and repayable on demand. During the years ended September 30, 2020 and 2019, the Company obtained loans from the above related parties in the amount of $158,160 and $164,466, respectively, and made repayment to them in the amount of $3,092 and $76,955, respectively. During the year ended September 30, 2020 and 2019, Huibin Su paid expenses on behalf of the Company in the amount of $3,165 and $4,060, respectively. In addition, during the year ended September 30, 2019, two friends of Huibin Su provided office space to Shenzhen CX and CX HK free of charge, and Dongguan FirstWisdom Listing Services Co., Ltd, a company controlled by Chaoran Zhang and Huibin Su, was allowed to share the office space leased by Shenzhen CX at no cost. Yi Zhang, a friend of Huibin Su, also provided non-compensated accounting services to the Company during the year ended September 30, 2019. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date of issuance of the audited consolidated financial statements, there were no other subsequent events occurred that would require recognition or disclosure in the audited consolidated financial statements. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of presentation and principles of consolidation | Basis of presentation and principles of consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the accounting and disclosure rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements include the accounts of CXKJ, its wholly owned subsidiaries, CX Cayman, CX HK, CX Network, and its VIE, Shenzhen CX. All intercompany transactions and balances have been eliminated in the consolidation and all necessary adjustments have been made to present the financial statements in accordance with U.S. GAAP. |
Use of estimates | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including valuation of allowance for deferred tax assets and useful life of properties and equipment. Actual results could differ from those estimates. |
Net loss per common share | Net loss per common share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. At September 30, 2020 and 2019, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the periods presented. |
Fair value of financial instruments | Fair value of financial instruments The Company follows the provisions of ASC 820, “Fair Value Measurements and Disclosures.” ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1-Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2-Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other the quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3-Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the balance sheets for cash and cash equivalents, accounts receivable, other receivable, prepaid expenses, current security deposit, accrued liabilities and other payables, and short-term loans approximate their fair market value based on the short-term maturity of these instruments. Management believes it is not practical to estimate the fair value of due to related party because the transactions cannot be assumed to have been consummated at arm’s length, the terms are not deemed to be market terms, there are no quoted values available for these instruments, and an independent valuation would not be practical due to the lack of data regarding similar instruments, if any, and the associated potential costs. |
Risks and uncertainties | Risks and uncertainties The Company’s operations are substantially carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations maybe substantially influenced by the political, economic and legal environments in the PRC, and by the general state of the PRC’s economy. The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and trade accounts receivable. Substantially all of the Company’s cash is maintained with state-owned banks within the PRC, and no deposits are covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash in bank accounts. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash on hand and all highly liquid instruments with original maturities of three months or less when purchased. |
Accounts receivable | Accounts receivable Accounts receivable primarily represents the cash due from customers, third-party application stores and other payment channels, net of allowance for doubtful accounts. The Company makes estimates for the allowance for doubtful accounts based upon its assessment of various factors, including the age of accounts receivable balances, credit quality of third-party application stores and other payment channels, current economic conditions and other factors that may affect their ability to pay. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Provision for doubtful accounts was $2,894 and $nil for the year ended September 30, 2020 and 2019, respectively. |
Property and equipment, net | Property and equipment, net Property and equipment are recorded at cost less accumulated depreciation and amortization. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization are computed based on cost, less their estimated residual value, if any, using the straight-line method over the estimated useful lives as follows: Office equipment 3 years Furniture and fixtures 3 years |
Impairment of long-lived assets | Impairment of long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary. The Company makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Company’s business strategy and its forecasts for specific market expansion. The Company did not record any impairment charges for the years ended September 30, 2020 and 2019. |
Advertising costs | Advertising costs Advertising costs are classified as selling expenses and are expensed in the period incurred and represent online marketing, including fees paid to search engines, and online and offline marketing. Advertising expense was $nil for both of the years ended September 30, 2020 and 2019. |
Income taxes | Income taxes The Company utilizes ASC Topic 740, “Income taxes”, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 “Income taxes” clarifies the accounting for uncertainty in tax positions. This interpretation requires that an entity recognizes in the financial statements the impact of a tax position, if that position is more likely than not of being sustained upon examination, based on the technical merits of the position. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the consolidated statements of operations. The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2020 and 2019, the Company did not have any unrecognized tax benefits. |
Revenue recognition | Revenue recognition Effective October 1, 2018, the Company adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) using the modified retrospective method. Results for the reporting period beginning after October 1, 2018 are presented under ASC 606, while prior period amounts have not been adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605. Management has determined that the adoption of ASC 606 did not impact the Company’s previously reported financial statements in any prior period nor did it result in a cumulative effect adjustment to opening retained earnings. Under ASC 606, the Company recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration which the Company expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Company performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. The Company currently recognizes revenue from application users in the form of membership subscription and à la carte online credit purchases. Membership subscription is a service package which enables members to enjoy additional functions and privileges. Members pay in advance, primarily by using a debit card or through mobile app stores, and, subject to certain conditions identified in the Company’s terms and conditions, all purchases are final and nonrefundable. Fees collected, in advance for membership subscription, are deferred and recognized as revenue using the straight-line method over the terms of the applicable membership period, which primarily range from one to three months. Membership subscription revenue is insignificant for the years ended September 30, 2019 and 2018. À la carte online credit purchases are non-refundable and the risk passes to users when users pay for à la carte features. Revenue from the purchase of à la carte features is recognized upon users paying for the purchase. In the year ended September 30, 2019, the Company also generated revenue from development and sale of software. Revenue from development and sale of software is recognized when the software is delivered to and accepted by the customer. Revenue was recorded on a gross basis, net of surcharges and value added tax (“VAT”) of gross sales. The Company recorded revenue on a gross basis because the Company has the following indicators for gross reporting: is the primary obligor of the sales arrangements has latitude in establishing prices, has discretion in suppliers’ selection and assumes credit risks on receivables from customers. |
Cost of revenues | Cost of revenues Cost of revenues primarily includes bandwidth costs, professional expenses associated with maintenance of mobile platform, and labor costs. |
Foreign currency translation | Foreign currency translation The reporting currency of the Company is the U.S. dollar. The functional currency of Shenzhen CX and CX Network is the local currency, the Chinese Renminbi (“RMB”) as PRC is the primary economic environment in which they operate. The functional currency of CX HK is Hong Kong Dollar (the “HKD”). The Company’s subsidiaries or VIE with functional currency of RMB translate their operating results and financial positions into the U.S. dollar, the Company’s reporting currency. Results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. Translation adjustments resulting from the process of translating the local currency financial statements into U.S. dollars are included in other comprehensive income in the statement of stockholders’ equity. The Company does not enter any material transaction in foreign currencies and accordingly, transaction gains or losses have not had, and are not expected to have, a material effect on the results of operations of the Company. |
Accumulated other comprehensive loss | Accumulated other comprehensive loss Comprehensive loss is comprised of net loss and all changes to the statements of stockholders’ deficit, except those due to investments by stockholders, changes in paid-in capital and distributions to stockholders. For the Company, comprehensive loss for the years ended September 30, 2020 and 2019 included net loss and unrealized loss (gain) from foreign currency translation adjustments. |
Research and development expenses | Research and development expenses Research and development expenses include salaries and benefits for research and development personnel, depreciation expenses associated with the research and development activities, and other related expenses associated with product development. The Company’s research and development activities primarily consist of the research and development of new features for its mobile platform and its self-developed mobile applications. The Company has expensed all research and development expenses when incurred. |
Related parties | Related parties Parties are considered to be related to the Company if the parties that, directly or indirectly, through one or more intermediaries, control, are controlled by, or are under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests. |
Operating leases | Operating leases On October 1, 2019, the Company adopted Accounting Standards Update (ASU) 2016-02, Leases (as amended by ASU 2017-13, 2018-01, 2018-10 & 11, 2018-20, and 2019-01, collectively ASC Topic 842), using the modified retrospective method. The Company elected the transition method which allows entities to initially apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As a result of electing this transition method, previously reported financial information has not been restated to reflect the application of the new standard to the comparative periods presented. The Company elected the package of practical expedients permitted under the transition guidance within ASC 842, which among other things, allows the Company to carry forward certain historical conclusions reached under ASC Topic 840 regarding lease identification, classification, and the accounting treatment of initial direct costs. The Company elected not to record assets and liabilities on its consolidated balance sheet for new or existing lease arrangements with terms of 12 months or less. The Company recognizes lease expenses for such lease on a straight-line basis over the lease term. The primary impact of applying ASC Topic 842 is the initial recognition of approximately $15,000 of lease liability and right-of-use asset on the Company’s consolidated balance sheet as of October 1, 2019, for lease classified as operating lease under ASC Topic 840, as well as enhanced disclosure of the Company’s leasing arrangement. There is no cumulative effect to accumulated deficit or other components of equity recognized as of October 1, 2019 and the adoption of this standard did not impact the consolidated statement of operations and comprehensive loss. The Company does not have finance lease arrangements as of June 30, 2020. See Note 8 for further discussion. |
New accounting pronouncements | New accounting pronouncements In February 2018, the FASB released ASU 2018-2, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” This standard update addresses a specific consequence of the Tax Cuts and Jobs Act (the “Tax Act”) and allows a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the Tax Act. Consequently, the update eliminates the stranded tax effects that were created as a result of the historical U.S. federal corporate income tax rate to the newly enacted U.S. federal corporate income tax rate. The Company is required to adopt this standard in the first quarter of fiscal year 2020, with early adoption permitted. The amendments in this update should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company adopted this ASU in the first quarter of 2020 and the new standard did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-13 Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates, adds, and modifies certain disclosure requirements for fair value measurements under ASC 820. This ASU is to be applied on a prospective basis for certain modified or new disclosure requirements, and all other amendments in the standard are to be applied on a retrospective basis. The new standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted this ASU in the first quarter of 2020 and the new standard did not have a material impact on the consolidated financial statements. In December 18, 2019, the FASB issued ASU 2019-12, income Taxes — Simplifying the Accounting for Income Taxes serves to simplify the accounting for income taxes by removing certain following Codification exceptions, including exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment. This guidance will be effective after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of the new guidance and do not expect the adoption of this guidance will have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, Investments—Equity Securities, Investments—Equity Method and Joint Ventures, and Derivatives and Hedging, which clarifies the interaction of the accounting for equity securities under Topic 321, the accounting for equity method investments in Topic 323, and the accounting for certain forward contracts and purchased options in Topic 815. This guidance will be effective in the first quarter of 2021 on a prospective basis, with early adoption permitted. The Company is currently evaluating the impact of the new guidance and do not expect the adoption of this guidance will have a material impact on the consolidated financial statements. |
Organization and Going Concern
Organization and Going Concern (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Organization And Going Concern [Abstract] | |
Schedule of assets and liabilities in CX Cayman's balance sheets that relate to CX Cayman's VIE | September 30, September 30, ASSETS Cash $ 456 $ 3,381 Accounts receivable - 453 Prepaid expenses - 1,051 Security deposits, current - 4,204 Other receivable 3,575 2,284 Total current assets of VIE 4,031 11,373 Property and equipment, net - 14,380 Total non-current assets of VIE - 14,380 Total assets of VIE $ 4031 $ 25,753 LIABILITIES Accrued liabilities and other payables $ 15,889 $ 8,732 Due to related parties 143,442 127,445 Total current liabilities of VIE 159,341 136,177 Total liabilities of VIE $ 159,341 $ 136,177 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Schedule of Property and equipment, net | Office equipment 3 years Furniture and fixtures 3 years |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Receivables [Abstract] | |
Schedule of accounts receivable | September 30, September 30, Accounts receivable $ 2,986 $ 453 Allowance for doubtful accounts (2,986 ) - $ - $ 453 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | September 30, September 30, Office equipment $ 31,132 $ 29,625 Furniture and fixtures 18,387 17,497 Sub-total 49,519 47,122 Less: accumulated depreciation (49,519 ) (32,742 ) Foreign currency translation Property and equipment, net $ - $ 14,380 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of components of deferred tax assets | September 30, September 30, Deferred tax assets $ 455,024 $ 443,586 Less: Valuation allowance (455,024 ) (443,586 ) Deferred tax assets, net $ - $ - |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
Schedule of related parties | Name of Related Party Nature of Relationship Jiyin Li Chairman Huibin Su Chief Executive Officer and Chief Financial Officer Chaoran Zhang Significant Shareholder of Shenzhen CX |
Schedule of due to related parties | September 30, September 30, Jiyin Li $ 1,290 $ 1,279 Huibin Su 599,950 445,607 Chaoran Zhang 14,726 14,013 Total $ 615,966 $ 460,899 |
Organization and Going Concer_2
Organization and Going Concern (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Mar. 20, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2018 | |
Organization and Going Concern (Details) [Line Items] | ||||
Management agreement term, description | This Agreement is valid for a term of 10 years unless terminated earlier by CX Network with a 30-day written notice, provided that CX Network can extend the agreement before its expiration. | |||
Exclusive option agreement, description | Pursuant to the terms of certain Exclusive Option Agreement dated April 20, 2017, among CX Network, Shenzhen CX, and the shareholders of Shenzhen CX (the “Exclusive Option Agreement”), the shareholders of Shenzhen CX granted CX Network or its designees an irrevocable and exclusive purchase option at RMB 10 (the “Option”) to purchase Shenzhen CX’s all equity interests and/or assets at a purchase price of RMB 10, 000 subject to an adjustment to the amount equal to 1% of the evaluation of the total equity interest or asset of Shenzhen CX if such evaluation is required under the applicable PRC laws and regulations. | |||
Stockholders’ Deficit | $ (857,591) | $ (581,488) | $ (427,102) | |
Accumulated deficit | $ (2,567,413) | $ (2,301,435) | ||
CX [Member] | ||||
Organization and Going Concern (Details) [Line Items] | ||||
Description of merger | the Merger Agreement, immediately after the effective time of the Merger, the Company’s corporate existence is governed by the laws of the State of Nevada and the Articles of Incorporation and bylaws of CXKJ (the “Domicile Change”), and each outstanding share of MLGT’s common stock, par value $0.0001 per share was converted into 0.0667 outstanding share of common stock of CXKJ, par value $0.0001 per share at a one-for-fifteen reverse split ratio (the “Reverse Stock Split”) which resulted in reclassification of capital from par value to capital in excess of par value. Immediately prior to the effectiveness of the reverse stock split, we had 217,300,000 shares of common stock of MLGT issued and outstanding. Immediately upon the effectiveness of the reverse stock split, we had 14,486,670 shares of common stock of CXKJ issued and outstanding. | |||
CX Network and Shenzhen CX [Member] | ||||
Organization and Going Concern (Details) [Line Items] | ||||
Description of merger | Under the Share Exchange, CX Network Group, Inc. issued an aggregate of 5,350,000 shares of common stock, par value $0.0001 per share to the shareholders of CX Cayman in exchange for 100% of the issued and outstanding equity securities of CX Cayman. | |||
Percentage of consulting service fees, description | Pursuant to the Consulting Service Agreement, Shenzhen CX agreed to pay a service fee to CX Network at a range of 90% to 100% of the monthly gross profit of Shenzhen CX based on certain factors set forth in the agreement, and Shenzhen CX agreed not to engage any third party for any of its technology consulting services provided under the agreement without the written consent of CX Network. | |||
Consulting service agreement term, description | This Agreement is valid for a term of 10 years subject to any extension requested by CX Network unless terminated by CX Network unilaterally prior to the expiration. | |||
Irrevocable powers of attorney term, description | The term of each power of attorney is valid for 10 years but may be extended upon CX Network’s request. | |||
Intellectual property license agreement, description | The term of the IP License Agreement is 10 year from April 20, 2017 to April 20, 2027. The IP License Agreement can be renewed subject to a renewal notice from CX Network 2 months prior to its expiration. Additionally, both parties can terminate this IP License Agreement if either party commits a material breach and fails to cure such breach after 10 days of receiving the notice to cure from the other party. The License contains certain quality control requirements, branding and advertising guidelines and approval processes that CX Network is required to maintain. | |||
CX Cayman [Member] | ||||
Organization and Going Concern (Details) [Line Items] | ||||
Cash received | $ 145 | |||
Assumed liabilities | $ 249,966 | |||
Shares of common stock issued in conjunction with the share exchange | 5,350,000 |
Organization and Going Concer_3
Organization and Going Concern (Details) - Schedule of assets and liabilities in CX Cayman's balance sheets that relate to CX Cayman's VIE - Vie Arrangements [Member] - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
ASSETS | ||
Cash | $ 456 | $ 3,381 |
Accounts receivable | 453 | |
Prepaid expenses | 1,051 | |
Security deposits, current | 4,204 | |
Other receivable | 3,575 | 2,284 |
Total current assets of VIE | 4,031 | 11,373 |
Property and equipment, net | 14,380 | |
Total non-current assets of VIE | 14,380 | |
Total assets of VIE | 4,031 | 25,753 |
LIABILITIES | ||
Accrued liabilities and other payables | 15,889 | 8,732 |
Due to related parties | 143,442 | 127,445 |
Total current liabilities of VIE | 159,341 | 136,177 |
Total liabilities of VIE | $ 159,341 | $ 136,177 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Oct. 01, 2019 | |
Accounting Policies [Abstract] | |||
Provision of allowance for doubtful accounts | $ 2,894 | ||
Advertising expense | |||
Operating leases, description | Fees collected, in advance for membership subscription, are deferred and recognized as revenue using the straight-line method over the terms of the applicable membership period, which primarily range from one to three months. | ||
Lease Liability | $ 15,000 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - Schedule of Property and equipment, net | 12 Months Ended |
Sep. 30, 2020 | |
Office equipment [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Property and equipment, net [Line Items] | |
Property and equipment, net | 3 years |
Furniture and fixtures [Member] | |
Summary of Significant Accounting Policies (Details) - Schedule of Property and equipment, net [Line Items] | |
Property and equipment, net | 3 years |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Receivables [Abstract] | ||
Provision for doubtful accounts | $ 2,894 |
Accounts Receivable (Details) -
Accounts Receivable (Details) - Schedule of accounts receivable - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Schedule of accounts receivable [Abstract] | ||
Accounts receivable | $ 2,986 | $ 453 |
Allowance for doubtful accounts | (2,986) | |
Accounts receivable, net | $ 453 |
Property and Equipment, Net (De
Property and Equipment, Net (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Property, Plant and Equipment [Member] | ||
Property and Equipment, Net (Details) [Line Items] | ||
Depreciation expense | $ 14,643 | $ 20,069 |
Property and Equipment, Net (_2
Property and Equipment, Net (Details) - Schedule of property and equipment - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Property, Plant and Equipment [Line Items] | ||
Sub-total | $ 49,519 | $ 47,122 |
Less: accumulated depreciation | (49,519) | (32,742) |
Foreign currency translation | ||
Property and equipment, net | 14,380 | |
Office equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Sub-total | 31,132 | 29,625 |
Furniture and fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Sub-total | $ 18,387 | $ 17,497 |
Short-Term Loans (Details)
Short-Term Loans (Details) - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Debt Disclosure [Abstract] | ||
Short-term loans | $ 58,064 | $ 57,497 |
Income Taxes (Details)
Income Taxes (Details) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 22, 2017 | Sep. 30, 2020USD ($) | Sep. 30, 2020HKD ($) | Sep. 30, 2019USD ($) | |
Income Taxes (Details) [Line Items] | ||||
Corporate income tax rate, description | The provisions of the Tax Act may have a significant impact on the Company, which includes the permanent reduction of the corporate income tax rate from 35% to 21% effective for tax years including or commencing on January 1, 2018, one-time transition tax on post-1986 foreign unremitted earnings, provision for Global Intangible Low Tax Income (“GILTI”), deduction for Foreign Derived Intangible Income (“FDII”), repeal of the corporate alternative minimum tax, limitation of various business deductions, and modification of the maximum deduction of net operating loss with no carryback but indefinite carryforward provision. | |||
Accumulated deficit | $ (2,567,413) | $ (2,301,435) | ||
Net operating losses | $ 1,820,097 | $ 1,774,343 | ||
Net operating loss, description | The net operating loss carry forwards, if not utilized, will begin to expire in 2020. | The net operating loss carry forwards, if not utilized, will begin to expire in 2020. | ||
Hong Kong [Member] | ||||
Income Taxes (Details) [Line Items] | ||||
Percentage of statutory income tax rate | 8.25% | 8.25% | ||
Amount of profits tax rate | $ 260,000 | $ 2 | ||
Profits tax rate, percentage | 16.50% | 16.50% | ||
PRC [Member] | ||||
Income Taxes (Details) [Line Items] | ||||
Percentage of statutory income tax rate | 25.00% | 25.00% | ||
VIE [Member] | PRC [Member] | ||||
Income Taxes (Details) [Line Items] | ||||
Percentage of statutory income tax rate | 25.00% | 25.00% |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of components of deferred tax assets - Shenzhen CX [Member] - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Income Taxes (Details) - Schedule of components of deferred tax assets [Line Items] | ||
Deferred tax assets | $ 455,024 | $ 443,586 |
Less: Valuation allowance | (455,024) | (443,586) |
Deferred tax assets, net |
Stockholders' Deficit (Details)
Stockholders' Deficit (Details) - USD ($) | 1 Months Ended | |||
Dec. 31, 2018 | Oct. 31, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stockholders' Deficit (Details) [Line Items] | ||||
Common stock, par value per share (in Dollars per share) | $ 0.0001 | $ 0.0001 | ||
Shares issued | 21,376,918 | 21,376,918 | ||
Shares outstanding | 21,376,918 | 21,376,918 | ||
Subscription Arrangement [Member] | Private Placement [Member] | ||||
Stockholders' Deficit (Details) [Line Items] | ||||
Aggregate shares of common stock | 160,000 | 160,000 | ||
Common stock, par value per share (in Dollars per share) | $ 0.0001 | $ 0.0001 | ||
Purchase price of per share (in Dollars per share) | $ 0.30 | $ 0.30 | ||
Aggregate gross proceeds of common stock (in Dollars) | $ 48,000 | $ 48,000 |
Operating Lease (Details)
Operating Lease (Details) | May 10, 2018USD ($) | May 10, 2018CNY (¥) | Sep. 30, 2020USD ($) | Oct. 02, 2019USD ($) |
Disclosure Text Block [Abstract] | ||||
Monthly rent | $ 2,130 | ¥ 15,000 | ||
Operating lease term | 2 years | 2 years | ||
Operating lease liability | $ 14,714 | |||
Operating lease right-of-use asset | $ 15,332 | |||
Operating lease discount rate | 4.80% | 4.80% | ||
Operating lease expense | $ 4,260 | |||
Termination of operating lease | 10,566 | |||
Termination Loss | $ 2,130 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Due to related parties [Member] | ||
Related Party Transactions (Details) [Line Items] | ||
Proceeds from related parties | $ 158,160 | $ 164,466 |
Repayment of related party loan | 3,092 | 76,955 |
Huibin Su [Member] | ||
Related Party Transactions (Details) [Line Items] | ||
Expenses paid by related party on behalf of the Company | $ 3,165 | $ 4,060 |
Related Party Transactions (D_2
Related Party Transactions (Details) - Schedule of related parties | 12 Months Ended |
Sep. 30, 2020 | |
Jiyin Li [Member] | |
Related Party Transaction [Line Items] | |
Due to related parties, Total | Chairman |
Huibin Su [Member] | |
Related Party Transaction [Line Items] | |
Due to related parties, Total | Chief Executive Officer and Chief Financial Officer |
Chaoran Zhang [Member] | |
Related Party Transaction [Line Items] | |
Due to related parties, Total | Significant Shareholder of Shenzhen CX |
Related Party Transactions (D_3
Related Party Transactions (Details) - Schedule of due to related parties - USD ($) | Sep. 30, 2020 | Sep. 30, 2019 |
Related Party Transactions (Details) - Schedule of due to related parties [Line Items] | ||
Due to related parties, Total | $ 615,966 | $ 460,899 |
Jiyin Li [Member] | ||
Related Party Transactions (Details) - Schedule of due to related parties [Line Items] | ||
Due to related parties, Total | 1,290 | 1,279 |
Huibin Su [Member] | ||
Related Party Transactions (Details) - Schedule of due to related parties [Line Items] | ||
Due to related parties, Total | 599,950 | 445,607 |
Chaoran Zhang [Member] | ||
Related Party Transactions (Details) - Schedule of due to related parties [Line Items] | ||
Due to related parties, Total | $ 14,726 | $ 14,013 |