Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Apr. 14, 2022 | Jun. 30, 2021 | |
Details | |||
Registrant CIK | 0001659559 | ||
Fiscal Year End | --12-31 | ||
Registrant Name | Jialijia Group Corporation Limited | ||
SEC Form | 10-K/A | ||
Period End date | Dec. 31, 2021 | ||
Tax Identification Number (TIN) | 35-2544765 | ||
Number of common stock shares outstanding | 4,858,784 | ||
Public Float | $ 2,197,656 | ||
Filer Category | Non-accelerated Filer | ||
Current with reporting | Yes | ||
Interactive Data Current | Yes | ||
Voluntary filer | No | ||
Well-known Seasoned Issuer | No | ||
Shell Company | true | ||
Small Business | true | ||
Emerging Growth Company | false | ||
Amendment Description | This Amendment No. 1 to the Form 10-K (the “Amendment”) of Jialijia Group Corporation Limited (the “Company”) amends the Annual Report of the Company on Form 10-K for the fiscal year ended December 31, 2021 (the “Form 10-K”), as filed with the Securities and Exchange Commission (the “Commission”) on April 15, 2022, and is being filed to include the financial statements of the Company for the years ended December 31, 2021 and 2020, in EXtensible Business Reporting Language format. This Amendment includes new certifications by our Principal Executive Officer and Principal Financial Officer pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 as exhibits 31.1 and 32. hereto. | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 333-209900 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, Address Line One | Room 402, Unit B, Building 5, Guanghua Community | ||
Entity Address, Address Line Two | Guanghua Road | ||
Entity Address, Address Line Three | Tianning District | ||
Entity Address, City or Town | Changzhou | ||
Entity Address, Country | CN | ||
City Area Code | 86 (519) | ||
Local Phone Number | 8980-1180 | ||
Amendment Flag | true | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Auditor Firm ID | 5968 | ||
Auditor Name | OLAYINKA OYEBOLA & CO. | ||
Auditor Location | Lagos Nigeria |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 823 | $ 13,933 |
Prepaid expenses and other receivables | 514,000 | 2,943 |
Due from related party | 1,820,586 | 0 |
Inventory | 44,279 | 0 |
Total Current Assets | 2,379,688 | 16,876 |
Intangible Assets | 1,490,302 | 0 |
Total Assets | 3,869,990 | 16,876 |
Current Liabilities | ||
Accrued expenses | 89,114 | 108,903 |
Due to related parties | 3,355,116 | 3,235,771 |
Other current liabilities | 75,469 | 2,852 |
Total Current Liabilities | 3,519,699 | 3,347,526 |
Total Liabilities | 3,519,699 | 3,347,526 |
Deficit | ||
Common stock, $.001 par value, 1,000,000,000 shares authorized, 4,858,784 and 647,705 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively | 4,858 | 647 |
Additional paid-in capital | 2,747,437 | 2,609,532 |
Subscribed stock | 295,655 | 0 |
Treasury stock | (120,000) | (120,000) |
Accumulated deficit | (5,189,744) | (4,875,603) |
Accumulated other comprehensive loss | 3,461,856 | (112,951) |
Total Stockholders' Deficit | 1,200,062 | (2,498,375) |
Total Liabilities and Deficit | 3,869,990 | 16,876 |
Noncontrolling interests | (849,772) | (832,275) |
Total Deficit | $ 350,290 | $ (3,330,650) |
CONSOLIDATED BALANCE SHEETS - P
CONSOLIDATED BALANCE SHEETS - Parenthetical - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Details | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares, Issued | 4,858,784 | 4,858,784 |
Common Stock, Shares, Outstanding | 647,705 | 647,705 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Details | ||
Net revenue | $ 0 | $ 0 |
Cost of revenue | 0 | 0 |
Gross profit | 0 | 0 |
General and administrative expenses | 317,613 | 72,384 |
Goodwill impairment | 0 | 0 |
Fixed assets impairment | 0 | 0 |
Total operating expense | 317,613 | 72,384 |
Loss from operations | (317,613) | (72,384) |
Provision for income tax | 0 | 0 |
Net loss | (317,613) | (72,384) |
Net loss attributable to noncontrolling interest | (3,472) | (2,869) |
Net loss attributable to the Jialijia Group Corporation Ltd | (314,141) | (69,515) |
Net loss | (317,613) | (72,384) |
Other comprehensive income (loss) | ||
Foreign currency translation gain (loss) | 3,588,833 | (184,762) |
Comprehensive loss | 3,588,833 | (257,146) |
Comprehensive loss attributable to noncontrolling interest | (14,025) | (55,065) |
Comprehensive loss attributable to Jialijia Group Corporation Ltd | $ 3,574,808 | $ (202,081) |
Net Loss Per Common Share | ||
Net loss per common share - basic and diluted | $ (0.06) | $ (10.13) |
Weighted average shares outstanding | ||
Basic and diluted | 4,492,603 | 484,233 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) | Common Stock | Additional Paid-in Capital | Subscriptions Receivable | Treasury Stock | Retained Earnings | AOCI Attributable to Parent | Noncontrolling Interest | Total |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2019 | $ 635 | $ 2,602,099 | $ (7,821) | $ (120,000) | $ (4,806,088) | $ 19,615 | $ (777,210) | $ (3,088,770) |
Shares, Outstanding, Beginning Balance at Dec. 31, 2019 | 635,296 | |||||||
Capital contribution | $ 12 | 7,433 | 7,821 | 0 | 0 | 0 | 0 | 15,266 |
Capital Contribution Shares | 12,409 | |||||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 0 | 0 | 0 | 0 | 0 | (132,566) | (52,196) | (184,762) |
Net loss | 0 | 0 | 0 | 0 | (69,515) | 0 | (2,869) | (72,384) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2020 | $ 647 | 2,609,532 | 0 | (120,000) | (4,875,603) | (112,951) | (832,275) | (3,330,650) |
Shares, Outstanding, Ending Balance at Dec. 31, 2020 | 647,705 | |||||||
Common stock issued for stock subscription | 0 | |||||||
Comprehensive loss attributable to Jialijia Group Corporation Ltd | (202,081) | |||||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 0 | 0 | 0 | 0 | 0 | 0 | (14,025) | (14,025) |
Net loss | 0 | 0 | 0 | 0 | (314,141) | 0 | (3,472) | (317,613) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2021 | $ 4,858 | 2,747,437 | 295,655 | (120,000) | (5,189,744) | 3,461,857 | (849,772) | 350,290 |
Shares, Outstanding, Ending Balance at Dec. 31, 2021 | 4,492,603 | |||||||
Stock Issued During Period, Value, New Issues | $ 4,211 | 137,905 | 0 | 0 | 0 | 0 | 0 | 142,116 |
Stock Issued During Period, Shares, New Issues | 4,211,079 | |||||||
Common stock issued for stock subscription | $ 0 | 0 | 295,655 | 0 | 0 | 0 | 0 | 295,655 |
Comprehensive loss attributable to Jialijia Group Corporation Ltd | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 3,574,808 | $ 0 | $ 3,574,808 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (317,613) | $ (72,384) |
Adjustments to reconcile net loss to net cash provided by operating activities | ||
Other Comprehensive Income | 3,437,966 | |
Prepaid expenses and other receivables | (511,057) | 116 |
Inventory | (44,279) | |
Accrued expenses and other payable | 172,173 | 44,389 |
Net cash used in operating activities | 2,740,662 | (27,879) |
Net Cash Provided by (Used in) Investing Activities | ||
Intangible Assets | (1,490,302) | 0 |
Net Cash Provided by (Used in) Investing Activities | (1,490,302) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Due (from) to related parties | (1,701,241) | 25,383 |
Common stock issued | 4,211 | 0 |
Common stock issued for stock subscription | 295,655 | 0 |
Additional paid in capital | 137,905 | 15,266 |
Net cash provided by financing activities | (1,263,470) | 40,649 |
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS | 150 | 768 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (13,110) | 13,538 |
CASH AND CASH EQUIVALENTS, BEGINING BALANCE | 13,933 | 395 |
CASH AND CASH EQUIVALENTS, ENDING BALANCE | 823 | 13,933 |
SUPPLEMENTAL DISCLOSURES | ||
Income tax paid | 0 | 0 |
Interest paid | $ 0 | $ 0 |
Note 1. Organization and Busine
Note 1. Organization and Business | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 1. Organization and Business | Note 1. Organization and Business Jialijia Group Corporation Limited (the “Company”), formerly known as Rizzen, Inc., was incorporated as a corporation under the laws of the State of Nevada on October 21, 2015. On July 10, 2019, the Company entered into a share purchase/exchange agreement (the “Exchange Agreement”) with Jialijia Zhongtai Chunfeng Group Co., Limited (“Jialijia Zhongtai Chunfeng”, formerly Huazhongyun Group Co., Limited), a company incorporated under the laws of Hong Kong, and Na Jin, the sole shareholder of Jialijia Zhongtai Chunfeng (the “Shareholder”) and the Chief Executive Officer of the Company. Jialijia Zhongtai Chunfeng owned 300,000 shares (the “Company Shares”) of the Company, which represented approximately 82% of the shares of the Company’s common stock, issued and outstanding, at the time of execution of the Exchange Agreement. The Shareholder owned an aggregate of 10,000 ordinary shares of Jialijia Zhongtai Chunfeng (“Jialijia Zhongtai Chunfeng Shares”), which constituted all of the issued and outstanding shares of Jialijia Zhongtai Chunfeng. Pursuant to the Exchange Agreement, among other matters, the Shareholder sold and transferred the Jialijia Zhongtai Chunfeng Shares in exchange for all of the Company Shares. As a result, the Shareholder directly owned the Company Shares, which represented approximately 82% of the issued and outstanding shares of the Company’s common stock at the time of execution of the Exchange Agreement and Jialijia Zhongtai Chunfeng became a wholly-owned subsidiary of the Company. Dajiwanqi Holding (Changzhou) Co., Ltd. (“Dajiwanqi (Changzhou)”, formerly Jialijia Jixiang Investment (Changzhou) Co., Ltd.) is a company incorporated under the laws of the People’s Republic of China (the “PRC”) on June 13, 2017. Jialijia Zhongtai Chunfeng owned all of the equity interests in Dajiwanqi (Changzhou) (“WFOE”), a wholly-foreign owned entity formed under the laws of PRC. Rucheng Wenchuan Gas Co., Ltd. (“Rucheng Wenchuan”) was incorporated under the laws of the PRC on March 30, 2006. On January 7, 2019, Dajiwanqi (Changzhou) entered into an equity transfer agreement (the “Equity Transfer”) with Mr. Jiannan Wu, the shareholder who owned 94.77% of Rucheng Wenchuan’s outstanding shares. Pursuant to the Equity Transfer, Mr. Jiannan Wu agreed to transfer 70% of his ownership of Rucheng Wenchuan to Dajiwanqi (Changzhou), in exchange of RMB 1,000,000 and 143,000 common shares of the Company owned by Jialijia Zhongtai Chunfeng. Immediately after the equity transfer agreement, Dajiwanqi (Changzhou) owns 70% of the ownership and becomes the controlling shareholder of Rucheng Wenchuan. Both Jialijia Zhongtai Chunfeng and Dajiwanqi (Changzhou) are holding companies and have not carried out substantive business operations of their own. Rucheng Wenchuan is primarily engaged in the production and sale of gases for industrial and medical purposes, such as oxygen and nitrogen, in the PRC. Pursuant to the Exchange Agreement, on August 29, 2019 (the “Closing Date”), Na Jin sold and transferred the Jialijia Zhongtai Chunfeng Shares to the Company in exchange for all of the Company Shares and the Company received all of the outstanding Jialijia Zhongtai Chunfeng Shares. As a result, on the Closing Date, Na Jin directly owned Company Shares representing approximately 48% of the issued and outstanding shares of the Company’s common stock, Jialijia Zhongtai Chunfeng became a wholly-owned subsidiary of the Company and the Company owned 70% of the outstanding equity interest in Rucheng Wenchuan through Jialijia Zhongtai Chunfeng and WFOE. The acquisition of Jialijia Zhongtai Chunfeng and WFOE was treated as a reverse merger (the “Reverse Merger”) for accounting purposes. As a result of the consummation of the Reverse Merger on August 29, 2019, the Company, through its subsidiaries, entered into the business of producing and selling gases for industrial and medical purposes, such as oxygen and nitrogen, in the PRC. The Company has not commenced its gas production or generated any revenues. On August 7, 2020, Jialijia Jixiang Investment (Changzhou) Co., Ltd. changed its name to Dajiwanqi Holding (Changzhou) Co., Ltd. On August 28, 2020, Huazhongyun Group Co., Limited changed its name to Calico Darji Group Holdings Co., Limited and then to Jialijia Zhongtai Chunfeng Group Co., Limited on June 1, 2021. On December 26, 2020, Jialijia Zhongtai Chunfeng entered into a share exchange agreement with Shenzhen Lintai Biotechnology Co., Limited (“Shenzhen Lintai”), a company incorporated under the laws of PRC; pursuant to which Jialijia Zhongtai Chunfeng agreed to exchange 26% of the Company’s common stock held by Jialijia Zhongtai Chunfeng for 100% of the equity interest of Shenzhen Lintai. In October 2021, this agreement has been cancelled. On March 5, 2021, Jialijia Zhongtai Chunfeng formed a wholly-owned subsidiary, Zhongtai Chunfeng Wanqi (Chengdu) Industrial Group Co., Limited, under the laws of the PRC. |
Note 2. Basis of Presentation
Note 2. Basis of Presentation | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 2. Basis of Presentation | Note 2. Basis of Presentation The accompanying consolidated financial statements and information have been prepared in accordance with accounting principles generally accepted in the United States and in accordance with the SEC’s regulations for year-end financial information and with the instructions for Form 10-K. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, these financial statements contain all normal and recurring adjustments considered necessary to present fairly the Company’s financial position, results of operations, comprehensive income, cash flows, and stockholders’ equity for the periods presented. The results for the three and nine months ended December 31, 2021 are not necessarily indicative of the results to be expected for the full year. |
Note 3. Going Concern
Note 3. Going Concern | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 3. Going Concern | Note 3. Going Concern These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the Company’s accompanying consolidated financial statements, for the year ended December 31, 2021, the Company had a net loss of $317,613. Additionally, the Company had an accumulated deficit of $5,189,744 and working capital deficit of $1,140,011 as of December 31, 2021 and has not yet generated revenues. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. The Company can give no assurances that any additional capital that it is able to obtain, if any, will be sufficient to meet its needs. If the Company is unable to successfully commence its business operations in a short period of time, or unable to raise additional capital or secure additional lending, the Company may need to curtail or cease its operations. The Company believes that these matters raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management plans to obtain such resources for the Company include obtaining capital from the sale of its equity, and short-term and long-term borrowings from banks, stockholders or other related party(ies). However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans. |
Note 4. Summary of Significant
Note 4. Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 4. Summary of Significant Accounting Policies | Note 4. Summary of Significant Accounting Policies Basis of Accounting The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of consolidation The consolidated financial statements include the financial statements of Jialijia Group Corporation Limited, Jialijia Zhongtai Chunfeng, Dajiwanqi (Changzhou) and its 70% owned subsidiary, Rucheng Wenchuan Gas Co., Ltd., and Zhongtai Chunfeng Wanqi (Chengdu), All inter-company transactions and balances are eliminated in consolidation. Use of Estimates 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 amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results. Cash and Cash Equivalents The Company considers all cash on hand and in banks, certificates of deposit with banks and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents. There is no insurance securing these deposits in the PRC. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. Property and Equipment Property and equipment are recorded at cost less accumulated depreciation. Gains or losses on disposals are reflected as gain or loss in the period of disposal. All ordinary repair and maintenance costs are expensed as incurred. Depreciation for financial reporting purposes is provided using the straight-line method over the estimated useful lives of the assets: Estimated Useful Life Buildings 20 years Machinery and equipment 10 years Office equipment 5 years Vehicles 5 years Costs incurred in constructing new facilities, including progress payments and other costs related to construction, are capitalized and transferred to property, plant and equipment on completion, at which time depreciation commences. Impairment of Long-lived Assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available, judgments and projections are considered necessary. No impairment loss was recorded for the year ended December 31, 2021 and 2020, respectively. Impairment of Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations under the purchase method of accounting. Goodwill is assessed for impairment annually or if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment of goodwill was recorded for the year ended December 31, 2021 and 2020, respectively. Income Taxes The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The evaluation of a tax position is a two-step process. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigations based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the year incurred. Foreign Currency Translation The Company uses the United States dollar (“U.S. dollars”) for financial reporting purposes. The functional currency of the Company and its subsidiaries is the Chinese Yuan or Renminbi (“RMB”). The Company’s subsidiaries maintain their books and records in their functional currency, being the primary currency of the economic environment in which their operations are conducted. For the Company and its subsidiaries whose functional currencies are other than the U.S. dollar, all asset and liability accounts were translated at the exchange rate on the balance sheet date; stockholders’ equity is translated at the historical rates and items in the income statement and cash flow statements are translated at the average rate in each applicable period. Translation adjustments resulting from this process are included in accumulated other comprehensive income in the statement of shareholders’ equity. The resulting translation gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. Fair Values of Financial Instruments ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 – inputs that are unobservable The Company’s financial instruments primarily consist of cash and cash equivalents, other receivables, advances to suppliers, accrued expenses, other payables, and related party borrowings. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheets. This is attributed to the short maturities of the instruments and that interest rates on the borrowings approximate those that would have been available for loans of similar remaining maturity and risk profile at respective balance sheet dates. Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on the consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on its consolidated financial statements. |
Note 6. Property, Plant, and Eq
Note 6. Property, Plant, and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 6. Property, Plant, and Equipment, Net | Note 6. Property, Plant, and Equipment, Net Property, plant, and equipment consisted of the following: December 31, 2021 December 31, 2020 Machinery and equipment $ 1,711,133 $ 1,689,734 Buildings 34,028 33,602 1,745,161 1,723,336 Less: Accumulated depreciation (1,270,528 ) (1,254,639 ) Less: Accumulated impairment (474,633 ) (468,697 ) Property, plant, and equipment, net $ - $ - Depreciation expense for the year ended December 31, 2021 and 2020 were $0 and $0, respectively. |
Note 7. Accrued Expenses
Note 7. Accrued Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 7. Accrued Expenses | Note 7. Accrued Expenses Accrued expenses consist of the following: December 31, December 31, 2021 2020 Accrued local taxes $ 63,426 $ 54,248 Accrued professional fees 1,024 54,471 Payroll and others 24,664 184 $ 89,114 $ 108,903 |
Note 8. Income Tax
Note 8. Income Tax | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 8. Income Tax | Note 8. Income Tax United States The Company was incorporated in the United States of America and is subject to United States federal taxation. No provisions for income taxes have been made, as there was no taxable income from U.S. operations for the year ended December 31, 2021 and 2020. The U.S. Tax Cuts and Jobs Act (the “Act”) was enacted on December 22, 2017. Effective in 2018, the Tax Act reduces the U.S. statutory tax rate from 35% to 21%. PRC The PRC Enterprise Income Tax Law, EIT Law, and Implementing Rules impose a unified enterprise income tax rate of 25% on all domestic-invested enterprises and foreign investment enterprises in PRC, unless they qualify under certain limited exceptions. As such, the Company’s subsidiaries in PRC are subject to an enterprise income tax rate of 25%. The Company had recorded no income tax provisions for the year ended December 31, 2021, and 2020. Provision for income tax expense (benefit) consists of the following: 2021 2020 Current USA $ - $ - China - - Deferred USA - - China - - Total provision for income tax expense (benefit) $ - $ - The following is a reconciliation of the statutory tax rate to the effective tax rate: 2021 2020 U.S. statutory tax benefit (21.0 )% (21.0 )% Change in deferred tax asset valuation allowance 21.0 % 21.0 % PRC statutory tax benefit (25.0 )% (25.0 )% Change in deferred tax asset valuation allowance 25.0 % 25.0 % Effective income tax rate 0.0 % 0.0 % The Company periodically evaluates the likelihood of the realization of deferred tax assets, and adjusts the carrying amount of the deferred tax assets by the valuation allowance to the extent that the future realization of the deferred tax assets is not judged to be more likely than not. The Company considers many factors when assessing the likelihood of future realization of its deferred tax assets, including its recent cumulative earnings experience by taxing jurisdiction, expectations of future taxable income or loss, the carryforward periods available to the Company for tax reporting purposes, and other relevant factors. As of December 31, 2021 and December 31, 2020, based on the weight of available evidence, including cumulative losses in recent years and expectations of future taxable income, the Company determined that it was more likely than not that its deferred tax assets would not be realized and have a 100% valuation allowance associated with its deferred tax assets. |
Note 9. Related Party Transacti
Note 9. Related Party Transactions and Balances | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 9. Related Party Transactions and Balances | Note 9. Related Party Transactions and Balances The related parties of the company with whom transactions are reported in these consolidated financial statements are as follows: Name of entity or Individual Relationship with the Company Shenzhen Wenchuan Gas Co., Ltd. Mr. Jiannan Wu is the legal representative and president of this entity Rucheng County Minhang Special Gas Co., Ltd Mr. Jiannan Wu is the legal representative and president of this entity Shenzhen Lintai Biological Technology Co., Ltd The Company entered into a share exchange agreement with Shenzhen Lintai and subsequently cancelled (see Note 1). Jiannan Wu Major shareholder of Rucheng Wenchuan Dongzhi Zhang Chairman of the Board Na Jin Shareholder, director, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) Weijun Shen Legal representative of Rucheng Wenchuan Due from related party: 2021 2020 Shenzhen Lintai Biological Technology Co., Ltd $ 62,159 $ - Wu Jianna 1,758,427 - 1,820,586 - The balance of due from related party is unsecured, non-interest bearing, and payable on demand. Due to related parties: 2021 2020 Shenzhen Wenchuan Gas Co., Ltd. $ 2,703,757 $ 2,610,542 Dongzhi Zhang 454,052 433,034 Rucheng County Minhang Special Gas Co., Ltd. 53,811 53,138 Na Jin 123,010 121,892 Jiannan Wu 19,710 17,165 Weijun Shen 776 - $ 3,355,116 $ 3,235,771 Due to related parties were advances from its related parties for the Company’s purchase of equipment and daily operating expenses. The balances are unsecured, non-interest bearing, and payable on demand. |
Note 10. Equity
Note 10. Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 10. Equity | Note 10. Equity The Company has authorized 1,000,000,000 shares of Common Stock at par value of $0.001. On May 28, 2020, by unanimous written consent in lieu of a meeting, the Board adopted resolutions authorizing a one (1)-for-twenty (20) reverse stock split and on June 24, 2020 filed Articles of Amendment to effect the reverse stock split with the Secretary of State of the State of Nevada. The reverse stock split becomes effective on June 19, 2020. All share and earnings per share information has been retroactively adjusted to reflect the reverse stock split. On June 30, 2020, the Company entered into stock subscription agreements with 7 individuals, pursuant to which the Company agreed to issue an aggregate of 12,409 shares of the Company’s common stock for the purchase price of $0.6 per share. These shares were issued on June 30, 2020. As of December 31, 2021, Jialijia Zhongtai Chunfeng owned 300,000 shares of the Company. These shares have been reclassified and recorded as treasury stock at the cost of $0.4 per share, as a result of the Reverse Merger. In April and May 2021, the Company entered into stock subscription agreements with 200 individuals, pursuant to which the Company agreed to issue an aggregate of 2,278,373 shares of the Company’s common stock for the purchase price of $0.04 per share. In addition, the Company entered into stock subscription agreements with 10 individuals, pursuant to which the Company agreed to issue an aggregate of 1,932,706 shares of the Company’s common stock for the purchase price of $0.03 per share, of which 1,847,656 shares were subscribed by Dongzhi Zhang, the Company’s Chairman of the Board. In July 2021, total 4,211,079 shares were issued to the 210 individual subscribers, and the proceeds from the stock issuance were approximately $149,116, or RMB 1,043,832. During the year ended December 31, 2021, the Company entered into stock subscription agreements with several individuals, pursuant to which the Company agreed to issue an aggregate of 6,911,786 shares of the Company’s common stock for the purchase price of $0.04 per share. As of December 31, 2021, the Company received advances of $291,773 for the subscribed stock, and these common shares have not been issued. |
Note 11. Subsequent Events
Note 11. Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes | |
Note 11. Subsequent Events | Note 11. Subsequent Events The Company has evaluated subsequent events through the date which the consolidated financial statements were available to be issued and determined that no subsequent events require disclosure in accordance with FASB ASC Topic 855, “Subsequent Events.” |
Note 4. Summary of Significan_2
Note 4. Summary of Significant Accounting Policies: Basis of Accounting (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Basis of Accounting | Basis of Accounting The financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). |
Note 4. Summary of Significan_3
Note 4. Summary of Significant Accounting Policies: Principles of consolidation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Principles of consolidation | Principles of consolidation The consolidated financial statements include the financial statements of Jialijia Group Corporation Limited, Jialijia Zhongtai Chunfeng, Dajiwanqi (Changzhou) and its 70% owned subsidiary, Rucheng Wenchuan Gas Co., Ltd., and Zhongtai Chunfeng Wanqi (Chengdu), All inter-company transactions and balances are eliminated in consolidation. |
Note 4. Summary of Significan_4
Note 4. Summary of Significant Accounting Policies: Use of Estimates (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
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 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 amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results. |
Note 4. Summary of Significan_5
Note 4. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers all cash on hand and in banks, certificates of deposit with banks and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents. There is no insurance securing these deposits in the PRC. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. |
Note 4. Summary of Significan_6
Note 4. Summary of Significant Accounting Policies: Property and Equipment (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Property and Equipment | Property and Equipment Property and equipment are recorded at cost less accumulated depreciation. Gains or losses on disposals are reflected as gain or loss in the period of disposal. All ordinary repair and maintenance costs are expensed as incurred. Depreciation for financial reporting purposes is provided using the straight-line method over the estimated useful lives of the assets: Estimated Useful Life Buildings 20 years Machinery and equipment 10 years Office equipment 5 years Vehicles 5 years Costs incurred in constructing new facilities, including progress payments and other costs related to construction, are capitalized and transferred to property, plant and equipment on completion, at which time depreciation commences. |
Note 4. Summary of Significan_7
Note 4. Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Impairment of Long-lived Assets | Impairment of Long-lived Assets The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available, judgments and projections are considered necessary. No impairment loss was recorded for the year ended December 31, 2021 and 2020, respectively. |
Note 4. Summary of Significan_8
Note 4. Summary of Significant Accounting Policies: Impairment of Goodwill (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Impairment of Goodwill | Impairment of Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations under the purchase method of accounting. Goodwill is assessed for impairment annually or if an event occurs or circumstances change that would indicate the carrying amount may be impaired. The impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment of goodwill was recorded for the year ended December 31, 2021 and 2020, respectively. |
Note 4. Summary of Significan_9
Note 4. Summary of Significant Accounting Policies: Income Taxes (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Income Taxes | Income Taxes The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain. Under ASC 740, a tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The evaluation of a tax position is a two-step process. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigations based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the year incurred. |
Note 4. Summary of Significa_10
Note 4. Summary of Significant Accounting Policies: Foreign Currency Translation (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Foreign Currency Translation | Foreign Currency Translation The Company uses the United States dollar (“U.S. dollars”) for financial reporting purposes. The functional currency of the Company and its subsidiaries is the Chinese Yuan or Renminbi (“RMB”). The Company’s subsidiaries maintain their books and records in their functional currency, being the primary currency of the economic environment in which their operations are conducted. For the Company and its subsidiaries whose functional currencies are other than the U.S. dollar, all asset and liability accounts were translated at the exchange rate on the balance sheet date; stockholders’ equity is translated at the historical rates and items in the income statement and cash flow statements are translated at the average rate in each applicable period. Translation adjustments resulting from this process are included in accumulated other comprehensive income in the statement of shareholders’ equity. The resulting translation gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred. |
Note 4. Summary of Significa_11
Note 4. Summary of Significant Accounting Policies: Fair Values of Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Fair Values of Financial Instruments | Fair Values of Financial Instruments ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1 – quoted prices in active markets for identical assets or liabilities. Level 2 – quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3 – inputs that are unobservable The Company’s financial instruments primarily consist of cash and cash equivalents, other receivables, advances to suppliers, accrued expenses, other payables, and related party borrowings. As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheets. This is attributed to the short maturities of the instruments and that interest rates on the borrowings approximate those that would have been available for loans of similar remaining maturity and risk profile at respective balance sheet dates. |
Note 4. Summary of Significa_12
Note 4. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Policies | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Management has considered all recent accounting pronouncements issued and their potential effect on the consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on its consolidated financial statements. |
Note 4. Summary of Significa_13
Note 4. Summary of Significant Accounting Policies: Property and Equipment: Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Rucheng Wenchuan Gas Co Ltd Member | |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | Depreciation for financial reporting purposes is provided using the straight-line method over the estimated useful lives of the assets: Estimated Useful Life Buildings 20 years Machinery and equipment 10 years Office equipment 5 years Vehicles 5 years |
Note 6. Property, Plant, and _2
Note 6. Property, Plant, and Equipment, Net: Property, plant, and equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Property, plant, and equipment | Property, plant, and equipment consisted of the following: December 31, 2021 December 31, 2020 Machinery and equipment $ 1,711,133 $ 1,689,734 Buildings 34,028 33,602 1,745,161 1,723,336 Less: Accumulated depreciation (1,270,528 ) (1,254,639 ) Less: Accumulated impairment (474,633 ) (468,697 ) Property, plant, and equipment, net $ - $ - |
Note 7. Accrued Expenses_ Sched
Note 7. Accrued Expenses: Schedule of Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Accrued Liabilities | Accrued expenses consist of the following: December 31, December 31, 2021 2020 Accrued local taxes $ 63,426 $ 54,248 Accrued professional fees 1,024 54,471 Payroll and others 24,664 184 $ 89,114 $ 108,903 |
Note 8. Income Tax_ Schedule of
Note 8. Income Tax: Schedule of Provision for Income Tax Expense (Benefit) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Provision for Income Tax Expense (Benefit) | Provision for income tax expense (benefit) consists of the following: 2021 2020 Current USA $ - $ - China - - Deferred USA - - China - - Total provision for income tax expense (benefit) $ - $ - |
Note 8. Income Tax_ Schedule _2
Note 8. Income Tax: Schedule of Effective Income Tax Rate Reconciliation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Effective Income Tax Rate Reconciliation | The following is a reconciliation of the statutory tax rate to the effective tax rate: 2021 2020 U.S. statutory tax benefit (21.0 )% (21.0 )% Change in deferred tax asset valuation allowance 21.0 % 21.0 % PRC statutory tax benefit (25.0 )% (25.0 )% Change in deferred tax asset valuation allowance 25.0 % 25.0 % Effective income tax rate 0.0 % 0.0 % |
Note 9. Related Party Transac_2
Note 9. Related Party Transactions and Balances: Schedule of Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Schedule of Related Party Transactions | The related parties of the company with whom transactions are reported in these consolidated financial statements are as follows: Name of entity or Individual Relationship with the Company Shenzhen Wenchuan Gas Co., Ltd. Mr. Jiannan Wu is the legal representative and president of this entity Rucheng County Minhang Special Gas Co., Ltd Mr. Jiannan Wu is the legal representative and president of this entity Shenzhen Lintai Biological Technology Co., Ltd The Company entered into a share exchange agreement with Shenzhen Lintai and subsequently cancelled (see Note 1). Jiannan Wu Major shareholder of Rucheng Wenchuan Dongzhi Zhang Chairman of the Board Na Jin Shareholder, director, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) Weijun Shen Legal representative of Rucheng Wenchuan |
Note 9. Related Party Transac_3
Note 9. Related Party Transactions and Balances: Due from related party (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Due from related party | 2021 2020 Shenzhen Lintai Biological Technology Co., Ltd $ 62,159 $ - Wu Jianna 1,758,427 - 1,820,586 - |
Note 9. Related Party Transac_4
Note 9. Related Party Transactions and Balances: Due To Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Tables/Schedules | |
Due To Related Parties | 2021 2020 Shenzhen Wenchuan Gas Co., Ltd. $ 2,703,757 $ 2,610,542 Dongzhi Zhang 454,052 433,034 Rucheng County Minhang Special Gas Co., Ltd. 53,811 53,138 Na Jin 123,010 121,892 Jiannan Wu 19,710 17,165 Weijun Shen 776 - $ 3,355,116 $ 3,235,771 |
Note 1. Organization and Busi_2
Note 1. Organization and Business (Details) - shares | Dec. 26, 2020 | Jul. 10, 2019 | Dec. 31, 2021 |
Jialijia Zhongtai Chunfeng | |||
Shares, Issued | 300,000 | ||
Issued And Outstanding Shares Percentage | 82.00% | ||
Jialijia Zhongtai Chunfeng | Exchange Agreement | |||
Issued And Outstanding Shares Percentage | 82.00% | ||
Ownership Of Ordinary Shares | 10,000 | ||
Equity Method Investment, Ownership Percentage | 100.00% | 94.77% | 70.00% |
Exchange Common Stock Percentage | 26.00% | ||
Na Jin | Exchange Agreement | |||
Issued And Outstanding Shares Percentage | 48.00% | ||
Equity Method Investment, Ownership Percentage | 70.00% | ||
Rucheng Wenchuan Gas Co Ltd Member | Exchange Agreement | |||
Shares, Issued | 143,000 | ||
Dongzhi Zhang | Exchange Agreement | |||
Equity Method Investment, Ownership Percentage | 70.00% |
Note 3. Going Concern (Details)
Note 3. Going Concern (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Details | ||
Net loss | $ 317,613 | $ 72,384 |
Accumulated deficit | 5,189,744 | $ 4,875,603 |
Working Capital Deficit | $ 1,140,011 |
Note 4. Summary of Significa_14
Note 4. Summary of Significant Accounting Policies: Principles of consolidation (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Rucheng Wenchuan Gas Co Ltd Member | |
Ownership Percentage | 70.00% |
Note 4. Summary of Significa_15
Note 4. Summary of Significant Accounting Policies: Property and Equipment: Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Building | |
Property, Plant and Equipment, Useful Life | 20 years |
Machinery and Equipment | |
Property, Plant and Equipment, Useful Life | 10 years |
Office Equipment | |
Property, Plant and Equipment, Useful Life | 5 years |
Vehicles | |
Property, Plant and Equipment, Useful Life | 5 years |
Note 6. Property, Plant, and _3
Note 6. Property, Plant, and Equipment, Net: Property, plant, and equipment (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment, Gross | $ 1,745,161 | $ 1,723,336 |
Less: Accumulated depreciation | (1,270,528) | (1,254,639) |
Less: Accumulated impairment | (474,633) | (468,697) |
Property, plant, and equipment, net | 0 | 0 |
Machinery and Equipment | ||
Property, Plant and Equipment, Gross | 1,711,133 | 1,689,734 |
Building | ||
Property, Plant and Equipment, Gross | $ 34,028 | $ 33,602 |
Note 6. Property, Plant, and _4
Note 6. Property, Plant, and Equipment, Net (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Details | ||
Depreciation Expense on Reclassified Assets | $ 0 | $ 0 |
Note 7. Accrued Expenses_ Sch_2
Note 7. Accrued Expenses: Schedule of Accrued Liabilities (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Details | ||
Accrued local taxes | $ 63,426 | $ 54,248 |
Accrued professional fees | 1,024 | 54,471 |
Payroll and others | 24,664 | 184 |
Accrued expenses | $ 89,114 | $ 108,903 |
Note 8. Income Tax (Details)
Note 8. Income Tax (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Effective Income Tax Rate Reconciliation Foreign Income Taxes Rate Differential | 25.00% |
Peoples Republic Of China | |
Effective Income Tax Rate Reconciliation Foreign Income Taxes Rate Differential | 25.00% |
Note 8. Income Tax_ Schedule _3
Note 8. Income Tax: Schedule of Provision for Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Current | ||
USA | $ 0 | $ 0 |
China | 0 | 0 |
Deferred | ||
USA | 0 | 0 |
China | 0 | 0 |
Total provision for income tax expense (benefit) | $ 0 | $ 0 |
Note 8. Income Tax_ Schedule _4
Note 8. Income Tax: Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Details | ||
U.S. statutory tax benefit | (21.00%) | (21.00%) |
Change in deferred tax asset valuation allowance | 21.00% | 21.00% |
PRC statutory tax benefit | (25.00%) | (25.00%) |
Change in deferred tax asset valuation allowance | 25.00% | 25.00% |
Effective income tax rate | 0.00% | 0.00% |
Note 9. Related Party Transac_5
Note 9. Related Party Transactions and Balances: Schedule of Related Party Transactions (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Shenzhen Wenchuan Gas Co Ltd | |
Name Of Entity Or Individual | Mr. Jiannan Wu is the legal representative and president of this entity |
Rucheng County Minhang Special Gas Co Ltd | |
Name Of Entity Or Individual | Mr. Jiannan Wu is the legal representative and president of this entity |
Shenzhen Lintai Biological Technology Co., Ltd | |
Name Of Entity Or Individual | The Company entered into a share exchange agreement with Shenzhen Lintai and subsequently cancelled (see Note 1). |
Jiannan Wu | |
Name Of Entity Or Individual | Major shareholder of Rucheng Wenchuan |
Dongzhi Zhang | |
Name Of Entity Or Individual | Chairman of the Board |
Na Jin | |
Name Of Entity Or Individual | Shareholder, director, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) |
Weijun Shen | |
Name Of Entity Or Individual | Legal representative of Rucheng Wenchuan |
Note 9. Related Party Transac_6
Note 9. Related Party Transactions and Balances: Due from related party (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Shenzhen Wenchuan Gas Co Ltd | ||
Due from related party | $ 62,159 | $ 0 |
Weijun Shen | ||
Due from related party | 1,758,427 | 0 |
Due from related party | $ 1,820,586 | $ 0 |
Note 9. Related Party Transac_7
Note 9. Related Party Transactions and Balances: Due To Related Parties (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Shenzhen Wenchuan Gas Co Ltd | ||
Due to related parties | $ 2,703,757 | $ 2,610,542 |
Dongzhi Zhang | ||
Due to related parties | 454,052 | 433,034 |
Rucheng County Minhang Special Gas Co Ltd | ||
Due to related parties | 53,811 | 53,138 |
Na Jin | ||
Due to related parties | 123,010 | 121,892 |
Jiannan Wu | ||
Due to related parties | 19,710 | 17,165 |
Weijun Shen | ||
Due to related parties | 776 | 0 |
Due to related parties | $ 3,355,116 | $ 3,235,771 |
Note 10. Equity (Details)
Note 10. Equity (Details) | Jul. 31, 2021USD ($)shares | May 31, 2021$ / sharesshares | Apr. 30, 2021$ / sharesshares | Jun. 30, 2020$ / sharesshares | May 28, 2020 | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020$ / sharesshares |
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 | |||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | |||||
Stockholders' Equity, Reverse Stock Split | the Board adopted resolutions authorizing a one (1)-for-twenty (20) reverse stock split and on June 24, 2020 filed Articles of Amendment to effect the reverse stock split with the Secretary of State of the State of Nevada. The reverse stock split becomes effective on June 19, 2020. All share and earnings per share information has been retroactively adjusted to reflect the reverse stock split. | ||||||
Number Of Individuals | 200 | 200 | 7 | ||||
Purchase Of Aggregate Common Stock | 12,409 | ||||||
Sale of Stock, Price Per Share | $ / shares | $ 0.04 | $ 0.04 | $ 0.6 | ||||
Sale of Stock, Number of Shares Issued in Transaction | 2,278,373 | 2,278,373 | |||||
Shares Were Issued | 4,211,079 | ||||||
Proceeds From The Stock Issuance | $ | $ 149,116 | ||||||
Received Advances | $ | $ 291,773 | ||||||
Subscription Agreement | |||||||
Purchase Of Aggregate Common Stock | 6,911,786 | ||||||
Sale of Stock, Price Per Share | $ / shares | $ 0.04 | ||||||
Jialijia Zhongtai Chunfeng | |||||||
Stock Issued During Period, Shares, Other | 300,000 | ||||||
Treasury Stock Acquired, Average Cost Per Share | $ / shares | $ 0.4 | ||||||
Dongzhi Zhang | |||||||
Number Of Individuals | 10 | 10 | |||||
Sale of Stock, Price Per Share | $ / shares | $ 0.03 | $ 0.03 | |||||
Sale of Stock, Number of Shares Issued in Transaction | 1,932,706 | 1,932,706 | |||||
Shares Were Subscribed | 1,847,656 | 1,847,656 |