Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 26, 2021 | Jun. 30, 2020 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 333-222288 | ||
Entity Registrant Name | CAT9 Group Inc. | ||
Entity Central Index Key | 0001632275 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | Room 2001, Dading Century Square | ||
Entity Address, Address Line Two | No.387, Tianren Road | ||
Entity Address, Address Line Three | Wuhou District | ||
Entity Address, City or Town | Chengdu | ||
Entity Address, Country | CN | ||
Entity Address, Postal Zip Code | 610000 | ||
City Area Code | 86 | ||
Local Phone Number | 028 85594777 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Elected Not To Use the Extended Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 122,599,680 | ||
Entity Common Stock, Shares Outstanding | 102,166,400 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2020 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash | $ 7,000 | $ 189,429 |
Accounts receivable, net | 12,824 | 426,895 |
Prepaid expenses | 1,551 | |
Inventories | 306,973 | 235,101 |
Other receivables, related party | 1,149 | 1,669 |
Advances to suppliers | 167,235 | 97,210 |
Other current assets | 6,165 | 34,203 |
Total current assets | 501,346 | 986,058 |
Property & equipment, net | 12,227 | 22,188 |
Capitalized software costs, net | 4,248 | 13,379 |
Total assets | 517,821 | 1,021,625 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 511,011 | 811,242 |
Customer deposits | 1,673 | 29,261 |
Loan payable | 114,113 | 71,808 |
Loan payable, related party | 183,709 | |
Other payables | 1,051 | 22,807 |
Other payables, related party | 426,027 | 416,807 |
Total current liabilities | 1,237,584 | 1,351,925 |
Total liabilities | 1,237,584 | 1,351,925 |
Commitments and Contingencies | ||
Shareholders' Deficit: | ||
Preferred stock $0.0001 par value, 5,000,000 shares authorized; none issued and outstanding | ||
Common stock $0.0001 par value, 500,000,000 shares authorized; 102,166,400 shares issued and outstanding | 10,217 | 10,217 |
Additional paid-in capital | 497,573 | 497,573 |
Accumulated deficit | (1,198,730) | (825,752) |
Accumulated other comprehensive loss | (28,823) | (12,338) |
Total Stockholders' Deficit | (719,763) | (330,300) |
Total liabilities and stockholders' deficit | $ 517,821 | $ 1,021,625 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value per share | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value per share | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 102,166,400 | 102,166,400 |
Common stock, shares outstanding | 102,166,400 | 102,166,400 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||
Revenue | $ 1,572,261 | $ 5,592,820 |
Cost of revenue | 710,269 | 2,271,707 |
Gross margin | 861,992 | 3,321,113 |
Operating expenses: | ||
Professional Fees | 84,327 | 88,610 |
Consulting | 130,233 | 172,758 |
Selling, general and administrative | 1,298,162 | 2,792,629 |
Total operating expenses | 1,512,722 | 3,053,997 |
(Loss) income from operations | (650,730) | 267,116 |
Other income (expenses): | ||
Other income | 324,359 | 39,414 |
Interest income (expense) | (8,501) | 2,176 |
Other expenses | (38,106) | (16,199) |
Total other income | 277,752 | 25,391 |
(Loss) income from operations before income taxes | (372,978) | 292,507 |
Provision for income taxes | ||
Net (loss) income | (372,978) | 292,507 |
Other comprehensive (loss) income: | ||
Foreign currency translation adjustment | (16,485) | (10,405) |
Comprehensive (loss) income | $ (389,463) | $ 282,102 |
Basic and diluted net (loss) income per common share | $ 0 | $ 0 |
Basic and diluted weighted average common shares | 102,166,400 | 102,166,400 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity (Deficit) - USD ($) | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] | Other Comprehensive Loss [Member] | Total |
Balance, shares at Dec. 31, 2018 | 102,166,400 | ||||
Balance, amount at Dec. 31, 2018 | $ 10,217 | $ 497,573 | $ (1,118,259) | $ (1,933) | $ (612,402) |
Foreign currency translation adjustment | (10,405) | (10,405) | |||
Net (Loss) Income | 292,507 | $ 292,507 | |||
Balance, shares at Dec. 31, 2019 | 102,166,400 | 102,166,400 | |||
Balance, amount at Dec. 31, 2019 | $ 10,217 | 497,573 | (825,752) | (12,338) | $ (330,300) |
Foreign currency translation adjustment | (16,485) | (16,485) | |||
Net (Loss) Income | (372,978) | $ (372,978) | |||
Balance, shares at Dec. 31, 2020 | 102,166,400 | 102,166,400 | |||
Balance, amount at Dec. 31, 2020 | $ 10,217 | $ 497,573 | $ (1,198,730) | $ (28,823) | $ (719,763) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net (Loss) Income | $ (372,978) | $ 292,507 |
Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
Foreign currency translation adjustment | 17,687 | 9,939 |
Bad debt expense | 497,446 | 4,245 |
Inventory obsolescence | 22,347 | |
Depreciation expense | 10,817 | 15,349 |
Amortization expense | 15,505 | 2,697 |
Loss on disposal of property and equipment | (5,711) | |
Changes in operating assets and liabilities: | ||
Accounts Receivable | 83,375 | 421,011 |
Prepaid expenses | (1,551) | (11,734) |
Other receivables, related party | (520) | (13) |
Inventories | 94,219 | 93,570 |
Advances to suppliers | 70,025 | 18,807 |
Other current assets | (28,038) | (11,768) |
Accounts payable and accrued liabilities | (300,231) | 659,402 |
Customer deposits | (27,588) | 15,169 |
Other payables | (21,757) | 7,232 |
Net cash (used in) provided by operating activities | (411,636) | 482,500 |
Cash flows from investing activities: | ||
Purchase of equipment | 1,427 | |
Purchase of software | 6,027 | 16,182 |
Net cash used in investing activities | (6,027) | (17,609) |
Cash flows from financing activities: | ||
Proceeds from loan payable | 226,014 | |
Proceeds from related parties | 9,220 | 86,289 |
Repayment of related party loans | 481,543 | |
Net cash provided by (used in) financing activities | 235,234 | (395,254) |
Net change in cash, cash equivalents, and restricted cash | (182,429) | 69,637 |
Cash, cash equivalents, and restricted cash at beginning of year | 189,429 | 119,792 |
Cash, cash equivalents, and restricted cash at end of year | 7,000 | 189,429 |
SUPPLEMENTAL DISCLOSURES: | ||
Cash paid for interest | 8,553 | 930 |
Cash paid for taxes |
Description Of Business And His
Description Of Business And History | 12 Months Ended |
Dec. 31, 2020 | |
Description Of Business And History | |
Description of Business and History | NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY Description of business CAT9 Group Inc., CAT9 Cayman is a holding company incorporated on August 20, 2015, under the laws of the Cayman Islands. CAT9 Investment China Limited was incorporated on September 10, 2015, under the laws of Hong Kong. CAT9 Investment China is a window for the group to handle the business operations outside of China. Chongqing CAT9 Industrial Company Ltd. is located in Chongqing, PRC and was incorporated under the laws of the PRC on June 26, 2014. Chongqing Field Industrial Company Ltd. operates through strategic alliance and distribution rights agreements in the PRC, the Company is engaged in the marketing and sales of (1) fresh fruits, vegetables meats (including primarily organic and non-organic from both domestically grown and imported (2) Acquisition of land for the planting of Acer truncatum trees and harvesting of Acer truncatum seeds to produce edible oil, (3) providing Hi-Tech cooperative farm management services in the PRC and overseas and (4) farm machinery sales. Prior to the events above, the Company on July 31, 2015, the sole officer and director of the Company entered into a Share Purchase Agreement (the “SPA”) pursuant to which he entered into an agreement to sell an aggregate of 10,000,000 shares of his shares of the Company’s common stock to Chongqing Field Industrial Company Ltd. at an aggregate purchase price of $40,000. These shares represent 100% of the Company’s issued and outstanding common stock. Effective upon the closing date of the Share Purchase Agreement, August 12, 2015, the sole officer and director of the Company executed the agreement and owned no shares of the Company’s stock and Chongqing Field Industrial Company Ltd. was the sole stockholder of the Company. On May 2, 2016, the Company entered into Employee Agreements with Wenfa "Simon" Sun, its President, Chief Executive Officer, and Chairman of the Board of Directors, and MeiHong "Sanya" Qian, its Chief Financial Officer and Secretary. Pursuant to the Employment Agreement, the Company issued 6,000,000 shares of restricted common stock to Wenfa "Simon" Sun, and 4,000,000 shares of restricted common stock to MeiHong "Sanya" Qian. On May 3, 2016, the sole shareholder of the Company, Chongqing Field Industrial Ltd., ("CQFI") consented to a redemption of its 10,000,000 shares of common stock at a price of $0.0001 per share for an aggregate redemption price of $1,000. As a result of this action by CQFI, management of the Company now control 100% of the issued and outstanding shares. With the redemption and subsequent issuance of the 10,000,000 shares of restricted common stock, the Company effected a change in its control and the new majority shareholders are the current members of management of the Company. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Summary Of Significant Accounting Policies | |
Summary of Significant Accounting Policies | NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. The Company's functional currency for Chongqing CAT9is the Chinese Renminbi (“RMB”); however, the accompanying financial statements have been translated and presented in the United States Dollars (“USD”). Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, CAT9 Cayman, and its subsidiaries, including CAT9 Investment China, Chongqing CAT9 Industrial Co., Ltd: Chongqing Yubei Branch Company of Chongqing CAT9 Industrial Co., Ltd; Chengdu First Branch Company of Chongqing CAT9 Industrial Co., Ltd; and Chengdu Second Branch Company of Chongqing CAT9 Industrial Co., Ltd. Translation Adjustment For the years ended December 31, 2020 and 2019, the accounts of the Chongqing CAT9were maintained, and its financial statements were expressed, in RMB. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the RMB as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the years ended December 31, 2020 and 2019 is included net income and foreign currency translation adjustments. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include cash in hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. Revenue recognition Effective January 1, 2018, we adopted Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers We only apply the five-step model to contracts when it is probable that we will collect the consideration to which we are entitled in exchange for the goods or services we transfer to our customer. Once a contract is determined to be within the scope of ASC Topic 606, at contract inception we review the contract to determine which performance obligations we must deliver and which of these performance obligations are distinct. We recognize as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, our performance obligations are transferred to customers at a point in time, typically upon delivery. Accounts receivable Accounts receivable are recorded net of allowance for doubtful accounts. The Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Periodically, management assesses customer credit history and relationships as well as performs accounts receivable aging analysis. Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. Inventories consist of raw materials and finished goods. When appropriate, allowances to inventories are recorded to write down the cost of inventories to their net realizable value. For the years ended December 31, 2020 and 2019, there were no such allowances. Capitalized software costs Per ASC 985-20 expenses in the development of the software are expensed until technological feasibility has been reached and costs are determined to be recoverable. At this point additional expenses are capitalized. Capitalization ends, and amortization begins when the product is available for general release to customers. The capitalized software cost is being amortized using the straight-line method over the useful life of one year. As of December 31, 2020, and 2019, the Company has $4,248 and $13,379, respectively, of capitalized software development costs. Property and equipment Property and equipment are stated at cost net of accumulated depreciation and impairment losses. Depreciation is provided over the estimated useful lives of the assets using the straight-line method from the time the assets are placed in service. Estimated useful lives are as follows, taking into account the assets' estimated residual value: Classification Estimated useful life Computer and office equipment 3-5 years Vehicles 4 years Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. Gains or losses on dispositions of property and equipment are included in operating income (loss). Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the years ended December 31, 2020 and 2019, the Company had a loss on disposal of its property and equipment of $0 and $5,711, respectively. Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2020. The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis as of December 31, 2020 and 2019. Income taxes The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards to uncertainty income taxes. Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. Earnings (Loss) per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted earnings per share gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Earnings per share excludes all potential dilutive shares of common stock if their effect is anti-dilutive. There were no potential dilutive securities at December 31, 2020 and 2019. Recently issued accounting pronouncements In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivative and Hedging (Topic 815), and Leases (Topic 842). This new guidance became effective for us on January 1, 2020. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. On January 1, 2020 the Company adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Significant Concentration
Significant Concentration | 12 Months Ended |
Dec. 31, 2020 | |
Risks and Uncertainties [Abstract] | |
Significant Concentration | NOTE 3 –SIGNIFICANT CONCENTRATION Credit Risk Financial instruments which potentially expose the Company to concentrations of credit risk consist of cash and accounts receivable as of December 31, 2020 and 2019. The Company performs ongoing evaluations of its cash position and credit evaluations to ensure collections and minimize losses. The major part of the Company’s cash at December 31, 2020 and 2019 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. Geographic Concentration For the years ended December 31, 2020 and 2019, the Company’s sales were mainly made to customers located in the PRC. Major parts of net assets of the Company are also located in the PRC. Customer Concentration The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended December 31, 2020: Amount % Shanghai Haan E-Business Co., Ltd. $ 742,733 47% ZhongjunJilian (Shanghai)Tech Co., $ 295,131 19% The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended December 31, 2019: Amount % Shanghai Haan E-Business Co., Ltd. $ 1,305,279 23 % Sichuan 2030 Health Management Co., Ltd. $ 1,508,022 27 % Sichuan Juhuimin E-Busines Co., Ltd $ 1,543,223 28 % The following table sets forth information as to the accounts receivable derived from those customers that accounted for more than 10% of our accounts receivable as of December 31, 2019: Amount % Shanghai Haan E-Business Co., Ltd. $ 187,348 44 % ZhongjunJilian (Shanghai)Tech Co., Ltd. $ 84,961 20 % Sichuan Juhuimin E-Busines Co., Ltd $ 129,249 30 % |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Accounts Receivable Abstract | |
Accounts Receivable | NOTE 4 –ACCOUNTS RECEIVABLE Accounts receivable consist of the following: December 31, 2020 2019 Accounts receivable $ 12,824 $ 434,810 Less: allowance for doubtful accounts — (7,915 ) Accounts receivable, net $ 12,824 $ 426,895 Bad debt expense was $497,446 and $4,245 for the years ended December 31, 2020 and 2019, respectively. |
Inventory
Inventory | 12 Months Ended |
Dec. 31, 2020 | |
Inventory | |
Inventory | NOTE 5 –INVENTORY Inventories consist of the following: December 31, 2020 2019 Raw materials and parts $ 66,089 $ 36,710 Finished goods 248,571 198,391 Total Less: allowance for inventory reserve 7,687 — Total inventory, net $ 306,973 $ 235,101 During the year ended December 31, 2020, the Company accrued provision of $22,347 for obsolete inventory. |
Property And Equipment
Property And Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property And Equipment | |
Property And Equipment | NOTE 6 — PROPERTY AND EQUIPMENT Property and equipment are summarized as follows: December 31, 2020 2019 Equipment $ 15,074 $ 14,134 Automobile 36,366 34,098 Acer Truncatum saplings 230 215 Total property and equipment 51,670 48,447 Less accumulated depreciation (39,443 ) (26,259 ) Property and equipment, net $ 12,227 $ 22,188 Depreciation expense was $10,817 and $15,349 for the years ended December 31, 2020 and 2019, respectively. |
Capitalized Software Costs
Capitalized Software Costs | 12 Months Ended |
Dec. 31, 2020 | |
Capitalized Software Costs | |
Capitalized Software Costs | NOTE 7 — CAPITALIZED SOFTWARE COSTS Capitalized software costs consist of the following as of: December 31 2020 2019 Software $ 23,496 $ 16,055 Less accumulated amortization (19,248 ) (2,676 ) Software costs, net $ 4,248 $ 13,379 Amortization expense was $15,505 and $2,697 for the years ended December 31, 2020 and 2019, respectively. |
Loan Payable
Loan Payable | 12 Months Ended |
Dec. 31, 2020 | |
Loan Payable | |
Loan Payable | NOTE 8 – LOAN PAYABLE The Company entered into loan agreements with some individuals in the amount of $114,113 (RMB $745,000). The Company’s vehicle with net value of $11,895 is pledged as security for a loan in the amount of $15,317 (RMB $100,000). Two loans in the amount of $30,634 (RMB $200,000) are past due as of September 30, 2020. The annual interest rates for the loans are from 0% to 30%. For the year ended December 31, 2020, the interest expense is $8,553. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions | |
Related Party Transactions | NOTE 9 - RELATED PARTY TRANSACTIONS Loan payable, related parties On January 1, 2020, the Company entered into a loan agreement with Sichuan CAT9 Technology, the company under control of Wenfa Sun, the Company’s President, Chief Executive Officer and Chairman. The loan agreement offers the Company $765,858 (RMB 5,000,000) credit line. The maturity date is December 31, 2020. The loan is unsecured, non-interest bearing. As of , 2020, the balance of the loan is $183,709 and unused credit line is $582,149. Due to related parties During the normal course of business, affiliated companies, members, and/or officers may advance the Company funds to pay for certain operating expenses. All advances are unsecured, non-interest bearing and due on demand. As of , 2020 and , 2020 and , the Company owed the aforementioned related parties $426,027 and $416,807, respectively. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders Equity | |
Stockholders' Equity | NOTE 10 - STOCKHOLDERS’ EQUITY Preferred Stock The Company is authorized to issue 5,000,000 shares of $.0001 par value preferred stock. As of December 31 Common Stock On November 13, 2018, Wenfa “Simon” Sun, our President, Chief Executive Officer and Chairman issued 20,000,000 (twenty million) shares of his common stock as a gift to Guofu Industry Development Limited, an entity controlled by Quilin She, a shareholder of the company. The Subscription Agreement was the result of a privately negotiated transaction without the use of public dissemination of promotional or sales materials. The buyer or ‘gift recipient” is a registered Hong Kong corporation and represented it was an “accredited investor,” and as such could bear the risk of such investment for an indefinite period of time and to afford a complete loss thereof. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Taxes | |
Income Taxes | NOTE 11 – INCOME TAXES The Company operates in more than one jurisdiction with the main operations conducted in PRC and no activities in The United States. These are complex regulatory environments subject to different interpretations by the taxpayer and the respective governmental taxing authorities. The Company evaluates its tax positions and establishes liabilities, if required. Pursuant to the PRC Income Tax Laws, the Enterprise Income Tax (“EIT”), as from January 1, 2008 onwards, the EIT is at a statutory rate of 25%. Net deferred tax assets consist of the following components as of December 31: December 31, 2020 December 31, 2019 Unused tax loss brought forward $ (852,752 ) $ (1,118,259 ) (Loss) income for the year (372,978 ) 292,507 Expenses not deductible for tax Total net operating loss carry forwards $ (1,225,730 ) $ (852,752 ) Effective tax rate 25 % 25 % Unrecognized deferred tax asset carried forward $ 306,432 $ 213,188 Less: valuation allowances (306,432 ) (213,188 ) Deferred income tax benefit, net of valuation allowance $ — $ — The Company has not recognized a deferred tax asset in respect of PRC tax loss in these financial statements as it is not more-likely-than-not that the future taxable profit against which loss can be utilized will be available to the entities operating in PRC. Accordingly, a 100% valuation allowance has been made. Uncertain Tax Positions Interest associated with unrecognized tax benefits are classified as income tax and penalties in selling, general and administrative expenses in the statements of operations. For the years ended December 31, 2020 and 2019, the Company had no related interest and penalties expenses. Currently, the Company is not subject to examination by major tax jurisdictions, but the tax authority in PRC has the right to examine the Company’s tax position in all past years. Statutory Reserve In accordance with the laws and regulations of the PRC, a wholly-owned Foreign Invested Enterprise’s income, after the payment of the PRC income taxes, shall be allocated to the statutory reserves. The allocation is 10 percent of the net income and the cumulative allocations are not to exceed 50 percent of the registered capital. However, the laws do not prohibit enterprises allocate net income to this reserve after the limit of 50 per cent of registered capital has been reached. These reserves are not transferable to the Company in the form of cash dividends, loans or advances. These reserves are therefore not available for distribution except in liquidation. As of December 31, 2020, and 2019, the Company has not allocated to these non-distributable reserve funds due to loss sustained in the years ended December 31, 2020 and 2019. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | NOTE 12 – ACCUMULATED OTHER COMPREHENSIVE INCOME Balance of related after-tax components comprising accumulated other comprehensive income included members’ capital were as follows at December 31: 2020 2019 Accumulated other comprehensive loss, beginning of period $ (12,338 ) $ (1,933 ) Change in cumulative translation adjustment (16,485 ) (10,405 ) Accumulated other comprehensive loss, end of period $ (28,823 ) $ (12,338 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events | |
Subsequent Events | NOTE 13 – SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Summary Of Significant Policies Policies Abstract | |
Basis of Presentation | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Actual results could differ from those estimates. The Company's functional currency for Chongqing CAT9is the Chinese Renminbi (“RMB”); however, the accompanying financial statements have been translated and presented in the United States Dollars (“USD”). |
Principles of Consolidation | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, CAT9 Cayman, and its subsidiaries, including CAT9 Investment China, Chongqing CAT9 Industrial Co., Ltd: Chongqing Yubei Branch Company of Chongqing CAT9 Industrial Co., Ltd; Chengdu First Branch Company of Chongqing CAT9 Industrial Co., Ltd; and Chengdu Second Branch Company of Chongqing CAT9 Industrial Co., Ltd. |
Translation Adjustment | Translation Adjustment For the years ended December 31, 2020 and 2019, the accounts of the Chongqing CAT9were maintained, and its financial statements were expressed, in RMB. Such financial statements were translated into USD in accordance with the Foreign Currency Matters Topic of the Codification (ASC 830), with the RMB as the functional currency. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of members’ capital. Transaction gains and losses are reflected in the income statement. |
Comprehensive Income | Comprehensive Income The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of members’ capital, except those due to investments by members, changes in paid-in capital and distributions to members. Comprehensive income for the years ended December 31, 2020 and 2019 is included net income and foreign currency translation adjustments. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash in hand and cash in time deposits, certificates of deposit and all highly liquid instruments with original maturities of three months or less. |
Revenue Recognition | Revenue recognition Effective January 1, 2018, we adopted Financial Accounting Standards Board (“FASB”), Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers We only apply the five-step model to contracts when it is probable that we will collect the consideration to which we are entitled in exchange for the goods or services we transfer to our customer. Once a contract is determined to be within the scope of ASC Topic 606, at contract inception we review the contract to determine which performance obligations we must deliver and which of these performance obligations are distinct. We recognize as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, our performance obligations are transferred to customers at a point in time, typically upon delivery. |
Accounts Receivable | Accounts receivable Accounts receivable are recorded net of allowance for doubtful accounts. The Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Periodically, management assesses customer credit history and relationships as well as performs accounts receivable aging analysis. |
Inventories | Inventories Inventories are valued at the lower of cost or market. Management compares the cost of inventories with the market value and allowance is made for writing down their inventories to market value, if lower. Inventories consist of raw materials and finished goods. When appropriate, allowances to inventories are recorded to write down the cost of inventories to their net realizable value. For the years ended December 31, 2020 and 2019, there were no such allowances. |
Capitalized Software Costs | Capitalized software costs Per ASC 985-20 expenses in the development of the software are expensed until technological feasibility has been reached and costs are determined to be recoverable. At this point additional expenses are capitalized. Capitalization ends, and amortization begins when the product is available for general release to customers. The capitalized software cost is being amortized using the straight-line method over the useful life of one year. As of December 31, 2020, and 2019, the Company has $4,248 and $13,379, respectively, of capitalized software development costs. |
Property and Equipment | Property and equipment Property and equipment are stated at cost net of accumulated depreciation and impairment losses. Depreciation is provided over the estimated useful lives of the assets using the straight-line method from the time the assets are placed in service. Estimated useful lives are as follows, taking into account the assets' estimated residual value: Classification Estimated useful life Computer and office equipment 3-5 years Vehicles 4 years Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. Gains or losses on dispositions of property and equipment are included in operating income (loss). Management assesses the carrying value of property and equipment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If there is indication of impairment, management prepares an estimate of future cash flows expected to result from the use of the asset and its eventual disposition. If these cash flows are less than the carrying amount of the asset, an impairment loss is recognized to write down the asset to its estimated fair value. For the years ended December 31, 2020 and 2019, the Company had a loss on disposal of its property and equipment of $0 and $5,711, respectively. |
Fair Value of Financial Instruments | Fair value of financial instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable inputs and not corroborated by market data. The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximates the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements at December 31, 2020. The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis as of December 31, 2020 and 2019. |
Income Taxes | Income taxes The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”) with regards to uncertainty income taxes. Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. |
Earnings (Loss) Per Share | Earnings (Loss) per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted earnings per share gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Earnings per share excludes all potential dilutive shares of common stock if their effect is anti-dilutive. There were no potential dilutive securities at December 31, 2020 and 2019. |
Recently Issued Accounting Pronouncements | Recently issued accounting pronouncements In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivative and Hedging (Topic 815), and Leases (Topic 842). This new guidance became effective for us on January 1, 2020. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. On January 1, 2020 the Company adopted ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Summary Of Significant Accounting Policies Tables Abstract | |
Schedule of Estimated Useful Lives of Assets | Estimated useful lives are as follows, taking into account the assets' estimated residual value: Classification Estimated useful life Computer and office equipment 3-5 years Vehicles 4 years |
Significant Concentration (Tabl
Significant Concentration (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Significant Concentration Tables Abstract | |
Schedule of Concentration of Credit Risk | The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended December 31, 2020: Amount % Shanghai Haan E-Business Co., Ltd. $ 742,733 47% ZhongjunJilian (Shanghai)Tech Co., $ 295,131 19% The following table sets forth information as to the revenue derived from those customers that accounted for more than 10% of our revenue for the year ended December 31, 2019: Amount % Shanghai Haan E-Business Co., Ltd. $ 1,305,279 23 % Sichuan 2030 Health Management Co., Ltd. $ 1,508,022 27 % Sichuan Juhuimin E-Busines Co., Ltd $ 1,543,223 28 % The following table sets forth information as to the accounts receivable derived from those customers that accounted for more than 10% of our accounts receivable as of December 31, 2019: Amount % Shanghai Haan E-Business Co., Ltd. $ 187,348 44 % ZhongjunJilian (Shanghai)Tech Co., Ltd. $ 84,961 20 % Sichuan Juhuimin E-Busines Co., Ltd $ 129,249 30 % |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Accounts Receivable Tables Abstract | |
Schedule of Accounts Receivable | Accounts receivable consist of the following: December 31, 2020 2019 Accounts receivable $ 12,824 $ 434,810 Less: allowance for doubtful accounts — (7,915 ) Accounts receivable, net $ 12,824 $ 426,895 |
Inventory (Tables)
Inventory (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Inventories Tables Abstract | |
Schedule of Inventories | Inventories consist of the following: December 31, 2020 2019 Raw materials and parts $ 66,089 $ 36,710 Finished goods 248,571 198,391 Total Less: allowance for inventory reserve (7,687) — Total inventory, net $ 306,973 $ 235,101 |
Property And Equipment (Tables)
Property And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Equity Transactions Summarizes Common Stock Warrants Activity Details Abstract | |
Summary of Property and Equipment | Property and equipment are summarized as follows: December 31, 2020 2019 Equipment $ 15,074 $ 14,134 Automobile 36,366 34,098 Acer Truncatum saplings 230 215 Total property and equipment 51,670 48,447 Less accumulated depreciation (39,443 ) (26,259 ) Property and equipment, net $ 12,227 $ 22,188 |
Capitalized Software Costs (Tab
Capitalized Software Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Software Costs Tables Abstract | |
Summary of Capitalized Software Costs | Capitalized software costs consist of the following as of: December 31 2020 2019 Software $ 23,496 $ 16,055 Less accumulated amortization (19,248 ) (2,676 ) Software costs, net $ 4,248 $ 13,379 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Income Taxes Tables Abstract | |
Schedule of Net Deferred Tax Assets | Net deferred tax assets consist of the following components as of December 31: December 31, 2020 December 31, 2019 Unused tax loss brought forward $ (852,752 ) $ (1,118,259 ) (Loss) income for the year (372,978 ) 292,507 Expenses not deductible for tax Total net operating loss carry forwards $ (1,225,730 ) $ (852,752 ) Effective tax rate 25 % 25 % Unrecognized deferred tax asset carried forward $ 306,432 $ 213,188 Less: valuation allowances (306,432 ) (213,188 ) Deferred income tax benefit, net of valuation allowance $ — $ — |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Accumulated Other Comprehensive Income Tables Abstract | |
Schedule of Accumulated Other Comprehensive Income | Balance of related after-tax components comprising accumulated other comprehensive income included members’ capital were as follows at December 31: 2020 2019 Accumulated other comprehensive loss, beginning of period $ (12,338 ) $ (1,933 ) Change in cumulative translation adjustment (16,485 ) (10,405 ) Accumulated other comprehensive loss, end of period $ (28,823 ) $ (12,338 ) |
Summary Of Significant Accoun_4
Summary Of Significant Accounting Policies (Schedule Of Estimated Useful Lives Of Assets) (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Computer And Office Equipment [Member] | Minimum [Member] | |
Estimated useful lives | 3 years |
Computer And Office Equipment [Member] | Maximum [Member] | |
Estimated useful lives | 5 years |
Vehicles [Member] | |
Estimated useful lives | 4 years |
Significant Concentration (Sche
Significant Concentration (Schedule Of Concentration Of Credit Risk) 2020 (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Concentration Risk [Line Items] | ||
Revenues | $ 1,572,261 | $ 5,592,820 |
Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | 10.00% |
Revenue [Member] | Shanghai Haan E-Business Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 47.00% | 23.00% |
Revenues | $ 742,733 | $ 1,305,279 |
Revenue [Member] | Zhongjun Jilian (Shanghai)Tech Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 19.00% | 27.00% |
Revenues | $ 295,131 | $ 1,508,022 |
Significant Concentration (Sc_2
Significant Concentration (Schedule Of Concentration Of Credit Risk) 2019 (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Concentration Risk [Line Items] | ||
Revenues | $ 1,572,261 | $ 5,592,820 |
Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | 10.00% |
Revenue [Member] | Shanghai Haan E-Business Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 47.00% | 23.00% |
Revenues | $ 742,733 | $ 1,305,279 |
Revenue [Member] | Sichuan 2030 Health Management Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 19.00% | 27.00% |
Revenues | $ 295,131 | $ 1,508,022 |
Revenue [Member] | Sichuan Juhuimin E-Busines Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 28.00% | |
Revenues | $ 1,543,223 | |
Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | |
Accounts Receivable [Member] | Shanghai Haan E-Business Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 44.00% | |
Accounts Receivable | $ 187,348 | |
Accounts Receivable [Member] | Sichuan 2030 Health Management Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 20.00% | |
Accounts Receivable | $ 84,961 | |
Accounts Receivable [Member] | Sichuan Juhuimin E-Busines Co., Ltd [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 30.00% | |
Accounts Receivable | $ 129,249 |
Accounts Receivable (Schedule O
Accounts Receivable (Schedule Of Accounts Receivable) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts Receivable Schedule Of Accounts Receivable Details | ||
Accounts receivable | $ 12,824 | $ 434,810 |
Less: allowance for doubtful accounts | 7,915 | |
Accounts receivable, net | $ 12,824 | $ 426,895 |
Inventory (Schedule Of Inventor
Inventory (Schedule Of Inventories) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Inventory Schedule Of Inventories | ||
Raw materials and parts | $ 66,089 | $ 36,710 |
Finished goods | 248,571 | 198,391 |
Total | 314,660 | 235,101 |
Less: allowance for inventory reserve | 7,687 | |
Total inventory, net | $ 306,973 | $ 235,101 |
Property And Equipments (Summar
Property And Equipments (Summary Of Property And Equipment) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | $ 12,227 | $ 22,188 |
Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 15,074 | 14,134 |
Automobiles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 36,366 | 34,098 |
Acer Truncatum Saplings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 230 | 215 |
Property, Plant and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 51,670 | 48,447 |
Less accumulated depreciation | 39,443 | 26,259 |
Property and equipment, net | $ 12,227 | $ 22,188 |
Capitalized Software Costs (Sum
Capitalized Software Costs (Summary Of Software Costs) (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Capitalized Software Costs Summary Of Software Costs | ||
Software | $ 23,496 | $ 16,055 |
Less accumulated amortization | 19,248 | 2,676 |
Software costs, net | $ 4,248 | $ 13,379 |
Income Tax (Schedule Of Net Def
Income Tax (Schedule Of Net Deferred Tax Assets) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Schedule Of Net Deferred Tax Assets | ||
Unused tax loss brought forward | $ 852,752 | $ 1,118,259 |
(Loss) income for the year | (372,978) | 292,507 |
Expenses not deductible for tax | ||
Total net operating loss carry forwards | $ 1,225,730 | $ 852,752 |
Effective tax rate | 25.00% | 25.00% |
Unrecognized deferred tax asset carried forward | $ 306,432 | $ 213,188 |
Less: valuation allowances | (306,432) | (213,188) |
Deferred income tax benefit, net of valuation allowance |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income Schedule Of Accumulated Other Comprehensive Income | ||
Accumulated other comprehensive loss, beginning of period | $ (12,338) | $ (1,933) |
Change in cumulative translation adjustment | (16,485) | (10,405) |
Accumulated other comprehensive loss, end of period | $ (28,823) | $ (12,338) |
Description Of Business And H_2
Description Of Business And History (Narrative) (Details) - USD ($) | May 03, 2016 | May 02, 2016 | Jul. 31, 2015 | Dec. 27, 2016 |
Chongqing Field Industrial Ltd. ("CQFI") - Sole Shareholder [Member] | Restricted Common Stock [Member] | ||||
Shares redeemed, shares | 10,000,000 | |||
Price per share | $ 0.0001 | |||
Shares redeemed, value | $ 1,000 | |||
Management Of The Company [Member] | Restricted Common Stock [Member] | ||||
Percent of stock owned by management after stock redemption | 100.00% | |||
Employee Agreements [Member] | Wenfa "Simon" Sun - President, CEO And Chairman Of The Board Of Directors [Member] | Restricted Common Stock [Member] | ||||
Shares issued under employee agreement, shares | 6,000,000 | |||
Employee Agreements [Member] | MeiHong "Sanya" Qian - Chief Financial Officer And Secretary [Member] | Restricted Common Stock [Member] | ||||
Shares issued under employee agreement, shares | 4,000,000 | |||
Share Purchase Agreement With Chongqing Field Industrial Company Ltd [Member] | ||||
Share purchase agreement description | The Company on July 31, 2015, the sole officer and director of the Company entered into a Share Purchase Agreement (the "SPA") pursuant to which he entered into an agreement to sell an aggregate of 10,000,000 shares of his shares of the Company's common stock to Chongqing Field Industrial Company Ltd. at an aggregate purchase price of $40,000. These shares represent 100% of the Company's issued and outstanding common stock. | |||
CAT9 Cayman And Its Subsidiaries [Member] | ||||
Ownership interest by parent | 100.00% |
Significant Concentration (Narr
Significant Concentration (Narrative) (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Concentration Risk [Line Items] | ||
Concentration of credit risk insured deposits | The major part of the Company’s cash at December 31, 2020 and 2019 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. | The major part of the Company’s cash at December 31, 2020 and 2019 is maintained at financial institutions in the PRC which provide insurance on deposit for no more than 500,000 yuan for each depositor in a bank. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area. |
Revenue [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% | 10.00% |
Accounts Receivable [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% |
Loan Payable (Narrative) (Detai
Loan Payable (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 16, 2018 | |
Short-term Debt [Line Items] | |||
Vehicle value | $ 11,895 | ||
Security for loan amount | 15,317 | ||
Loan payable | $ 30,634 | ||
Interest expenses | $ 8,553 | ||
Loans Agreement With An Individual Dated June 16, 2018 [Member] | |||
Short-term Debt [Line Items] | |||
Loan payable face amount | $ 114,113 | ||
Interst rate | 0.00% | ||
Loans Payable With Security [Member] | |||
Short-term Debt [Line Items] | |||
Interst rate | 30.00% |
Loan Payable (Narrative) (Det_2
Loan Payable (Narrative) (Details) (RMB) | Sep. 30, 2020USD ($) | Jun. 16, 2018USD ($) | Jun. 16, 2018CNY (¥) |
Short-term Debt [Line Items] | |||
Security for loan amount | $ 15,317 | ||
Loan payable | 30,634 | ||
China, Yuan Renminbi [Member] | |||
Short-term Debt [Line Items] | |||
Security for loan amount | 100,000 | ||
Loan payable | $ 200,000 | ||
Loans Agreement With An Individual Dated June 16, 2018 [Member] | |||
Short-term Debt [Line Items] | |||
Loan payable face amount | $ 114,113 | ||
Loans Agreement With An Individual Dated June 16, 2018 [Member] | China, Yuan Renminbi [Member] | |||
Short-term Debt [Line Items] | |||
Loan payable face amount | ¥ | ¥ 745,000 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) | Jan. 02, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Related Party Transaction [Line Items] | |||
Loan payable, related party | $ 183,709 | ||
Other payable, related party | 426,027 | $ 416,807 | |
Sichuan CAT9 Technology - The Company Under Control Of Wenfa Sun, President, CEO And Chairman [Member] | Loans Agreement Dated January 1, 2020 [Member] | |||
Related Party Transaction [Line Items] | |||
Loan payable face amount | $ 765,858 | ||
Loan payable maturity date | Dec. 31, 2020 | ||
Loan payable description | The loan is unsecured, non-interest bearing. | ||
Loan payable, related party | 183,709 | ||
Loan payable unused credit line | $ 582,149 | ||
Related Parties [Member] | |||
Related Party Transaction [Line Items] | |||
Related party debt terms | The Company was indebted to related parties that advanced loans to the Company without any formal repayment terms. | The Company was indebted to related parties that advanced loans to the Company without any formal repayment terms. | |
Other payable, related party | $ 426,027 | $ 416,807 |
Related Party Transactions (N_2
Related Party Transactions (Narrative) (Details) (RMB) - Jan. 02, 2020 - Sichuan CAT9 Technology - The Company Under Control Of Wenfa Sun, President, CEO And Chairman [Member] - Loans Agreement Dated January 1, 2020 [Member] | USD ($) | CNY (¥) |
Related Party Transaction [Line Items] | ||
Loan payable face amount | $ | $ 765,858 | |
China, Yuan Renminbi [Member] | ||
Related Party Transaction [Line Items] | ||
Loan payable face amount | ¥ | ¥ 5,000,000 |
Stockholder's Equity (Narrative
Stockholder's Equity (Narratives) (Details) | Nov. 13, 2018shares |
Common Stock [Member] | |
Shares issued by Wenfa "Simon" Sun as a gift to Guofu Industry Development Limited | 20,000,000 |