SICHUAN LEADERS PETROCHEMICAL COMPANY
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(Exact name of registrant as specified in its charter)
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FLORIDA
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20-4138848
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification Number)
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11015 Gatewood Drive Unit 103 Lakewood Ranch, FL 34211
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(Address of principal executive offices) (Zip code)
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(941) 907-6889
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(Registrant’s telephone number, including area code)
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Large accelerated filer.
☐
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Accelerated filer.
☐
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Non-accelerated filer.
☐
(Do not check if a smaller reporting company)
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Smaller reporting company.
☑
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1 | ||||||||||
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Item 1.
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2 | |||||||||
Item 1A.
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4 | |||||||||
Item 1B.
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5 | |||||||||
Item 2.
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5 | |||||||||
Item 3.
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5 | |||||||||
Item 4.
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5 | |||||||||
6 | ||||||||||
Item 5.
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6 | |||||||||
Item 6.
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7 | |||||||||
Item 7.
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7 | |||||||||
Item 7A.
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10 | |||||||||
Item 8.
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10 | |||||||||
Item 9.
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10 | |||||||||
Item 9A.
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11 | |||||||||
Item 9B.
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12 | |||||||||
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Item 10.
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13 | |||||||||
Item 11.
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15 | |||||||||
Item 12.
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15 | |||||||||
Item 13.
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16 | |||||||||
Item 14.
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17 | |||||||||
18 | ||||||||||
Item 15.
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18 | |||||||||
19 | ||||||||||
20 |
· | our ability to raise capital; |
· | our ability to identify suitable acquisition targets; |
· | our ability to successfully execute acquisitions on favorable terms; |
· | declines in general economic conditions in the markets where we may compete; |
· | unknown environmental liabilities associated with any companies we may acquire; and |
· | significant competition in the markets where we may operate. |
High
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Low
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|||||||
Fiscal Year Ended December 31, 2015
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||||||||
First Quarter
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$
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0.75
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$
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0.75
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||||
Second Quarter
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$
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2.50
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$
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2.50
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Third Quarter
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$
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1.00
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$
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1.00
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Fourth Quarter
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$
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0.70
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$
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0.70
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Fiscal Year Ended December 31, 2014
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||||||||
First Quarter
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$
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--
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$
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--
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||||
Second Quarter
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$
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0.15
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$
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0.00
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Third Quarter
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$
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0.15
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$
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0.05
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Fourth Quarter
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$
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0.05
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$
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0.05
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Fiscal Years Ended December 31,
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||||||||||||
2015
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2014
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%Change
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||||||||||
Revenue:
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$
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-
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$
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-
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0
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%
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General and Administrative Expense
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$
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69,228
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$
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69,364
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8
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%
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Income (Loss) from Operations
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$
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(69,228
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)
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$
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(69,364
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)
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-8
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%
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Net Income (Loss)
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$
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(69,228
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)
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$
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(69,364
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)
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-8
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%
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Income (Loss) per Share: Basic and Diluted
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$
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(0.00
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)
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$
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(0.00
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)
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Name
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Age
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Position
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Andy Z. Fan
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51
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Chairman of the Board, President, Treasurer, Chief Executive Officer,Chief Financial Officer
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Name
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Number of late reports
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Number of transactions not reported timely
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ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS |
Name of Beneficial Owner
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Number of Shares
Beneficially Owned
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Percent
of
Class
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Andy Z. Fan
11015 Gatewood Drive, Suite 103
Lakewood Ranch, FL 34211
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27,330,020
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88.86%
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All directors and executive officers as a group (1 person)
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27,330,020
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88.86%
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Year
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Audit Fees
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Audit Related Fees
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Tax Fees
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All Other Fees
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Total Fees
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2015
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$8,000
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$0
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$850
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$0
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$8,850
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2014
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$12,000
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$0
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$1,055
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$0
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$13,055
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Exhibit No.
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Description
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3.1
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Amended and Restated Articles of Incorporation *
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3.2
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Articles of Amendment to Articles of Incorporation **
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3.3
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By-Laws *
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14
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Code of Business Conduct and Ethics *
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31
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32
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101
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Financial statements of Sichuan Leaders Petrochemical Company for the fiscal year ended December 31, 2015 and December 31, 2014 formatted in XBRL: (i) the Balance Sheet; (ii) the Statement of Income; (iii) Statement of Changes in Stockholders’ Equity; (iv) the Statement of Cash Flows; and (v) the Notes to the Financial Statements ***
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SICHUAN LEADERS PETROCHEMICAL COMPANY
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Dated: March 1, 2016
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By: |
/s/ANDY Z. FAN
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Andy Z. Fan
Chief Executive Officer
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(Principal Executive Officer)
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Dated: March 1, 2016
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By: |
/s/ANDY Z. FAN
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Andy Z. Fan
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Chief Executive Officer, Chief Financial Officer, President, Chairman of the Board
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STEVENSON & COMPANY CPAS LLC
A PCAOB Registered Accounting Firm
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12421 N Florida Ave.
Suite.113
Tampa, FL 33612
{813)443-0619
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US Dollars $
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2015
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2014
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||||||
ASSETS
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Current Assets:
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Cash and Cash Equivalents
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$
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68,381
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$
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23,092
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Prepaid Expenses
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3,849
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3,832
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Total Current Assets
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72,230
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26,924
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Total Assets:
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72,230
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26,924
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LIABILITIES AND STOCKHOLDERS' EQUITY
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||||||||
Current Liabilities:
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Accounts Payable
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66
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3,795
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Interest Payable
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8,263
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-
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Loans from Shareholder
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110,000
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-
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Total Current Liabilities
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118,329
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3,795
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Total Liabilities:
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118,329
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3,795
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Stockholders' Equity:
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Common Stock; $0.01 per share par value; 5,000,000,000 shares authorized; and 30,755,000 and 30,755,000 issued and outstanding at December 31, 2015 and December 31, 2014 respectively
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307,550
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307,550
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Additional paid in capital
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(68,566
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)
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(68,566
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)
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Accumulated Deficit
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(285,083
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)
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(215,855
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)
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Total Stockholders’ Equity
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(46,099
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)
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23,129
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Total Liabilities and Stockholders' Equity
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$
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72,230
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$
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26,924
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US Dollars $
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2015
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2014
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Revenue
:
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$
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-
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$
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-
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Operating Expenses:
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General and Administrative
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69,228
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69,364
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Operational Income, Pre-tax:
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(69,228
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)
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(69,364
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)
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Tax on Continued Operations
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-
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-
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Net Loss Continued Operations:
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Net Income (Loss):
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$
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(69,228
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)
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$
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(69,364
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)
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Basic and Diluted Earnings (Loss) per share:
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||||||||
Continuing Operations
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(0.00
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)
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(0.00
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)
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Weighted average number of shares outstanding
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30,755,000
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30,755,000
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Common Stock
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Shares
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Amount
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Additional Paid in Capital
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Stockholder
Distribution
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Retained Earnings
(Accumulated Deficit)
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Total Shareholder Equity (Deficit)
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||||||||||||||||||
Balance as of December 31, 2012
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9,375,000
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93,750
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(68,566
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)
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-
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(66,335
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)
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(41,151
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)
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||||||||||||||
Sale of Stock
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21,380,000
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213,800
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-
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-
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213,800
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Net Loss 2013
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-
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-
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-
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-
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(80,156
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)
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(80,156
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)
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Balance as of December 31, 2013
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30,755,000
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307,550
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(68,566
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)
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-
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(146,491
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)
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92,493
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Net Loss 2014
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-
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-
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-
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-
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(69,364
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)
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(69,364
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)
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Balance as of December 31, 2014
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30,755,000
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$
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307,550
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$
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(68,566
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)
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$
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-
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$
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(215,855
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)
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$
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23,129
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|||||||||||
Net Loss 2015
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-
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-
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-
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-
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(69,228
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)
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(69,228
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)
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Balance as of December 31, 2015
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30,755,000
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$
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307,550
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$
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(68,566
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)
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$
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-
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(285,083
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)
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(46,099
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)
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US Dollars $
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2015
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2014
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||||||
Cash Flows from Operating Activities:
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Net Income (Loss)
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$
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(69,228
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)
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$
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(69,364
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)
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Gain (Loss) from Continued Operations
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(69,228
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)
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(69,364
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)
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Changes in Operating Assets and Liabilities:
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||||||||
Accounts Payable and Accrued Expenses
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(3,729
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)
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2,719
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|||||
Interest Payable
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8,263
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-
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Prepaid Expenses
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(17
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)
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1,097
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Changes in Cashflow Used By Operating Activities
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4,517
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-
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Net Cash Flows Used In Operating Activities
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(64,711
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)
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(65,548
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)
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Cash Flows from Investing Activities:
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-
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-
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Net Cash Flows Used in Investing Activities
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-
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-
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||||||
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C
ash Flows from Financing Activities:
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||||||||
Loans from Shareholders
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110,000
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(44,122
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)
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Loans from Related Parties
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-
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(2,000
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)
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Issuance of Common Stock
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-
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-
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||||||
Net Cash Provided by (Used by) Financing Activities
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110,000
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(46,122
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)
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|||||
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||||||||
Change in Cash and Cash Equivalents:
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45,289
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(111,670
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)
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|||||
Cash and Cash Equivalents, Beginning of Period
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23,092
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134,762
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||||||
Cash and Cash Equivalents, End of Period
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$
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68,381
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$
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23,092
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||||
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||||||||
Supplemental Cash Flow Information
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||||||||
Cash paid for interest
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$
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-
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$
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-
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||||
Cash paid for taxes
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$
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-
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$
|
-
|
Level 1 | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. |
Level 2 | Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable data by correlation or other means. |
Level 3 | Inputs that are both significant to the fair value measurement and unobservable. |
US Dollars $
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For the Years Ended December 31,
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|||||||
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2015
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2014
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||||||
Tax Expense (benefit) at the Statutory Rate
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(23,500
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)
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(23,600
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)
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||||
State Income Taxes, Net of Federal Income Tax Benefit
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(2,500
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)
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(2,500
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)
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Change in Valuation allowance
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(26,000
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)
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(26,100
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)
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Total
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-
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-
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For the Years Ended December 31,
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||||||||
US Dollars $
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2015
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2014
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||||||
Deferred tax assets
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$
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55,600
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$
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81,300
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||||
Valuation allowance
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(55,600
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)
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(81,300
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)
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||||
Net deferred tax asset
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$
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-
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$
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-
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1.
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I have reviewed this annual report on Form 10-K of Sichuan Leaders Petrochemical Company;
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2.
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Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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3.
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Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
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4.
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I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have;
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a.
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Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this report is being prepared;
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b.
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Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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c.
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Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
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d.
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Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
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5.
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I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):
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a.
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All significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
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b.
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Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
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Date: 3/1/16
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/s/Andy Z. Fan |
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Andy Z. Fan
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Principal Executive Officer
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|
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Principal Financial Officer
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(1)
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The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
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(2)
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The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
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/s/ Andy Z. Fan | ||
Name: Andy Z. Fan
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||
Title: Chief Executive Officer
Chief Financial Officer
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Date: 3/1/16
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