UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended   January 31, 2016

or

[   ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

Commission file number: 000-55319

RESORT SAVERS, INC.
(Exact name of registrant as specified in its charter)

Nevada
 
46-1993448
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
No. 10-2-4B, Jin Di Shang Tang Garden, Long Hua Xin Qu Shang Tang Road,
Shenzhen, Guang Dong, Peoples Republic of China 518000
(Address of principal executive Office)

Registrant's telephone number, including area code: 0086-0755-23106825

Securities registered pursuant to Section 12(b) of the Act:

N/A
 
N/A
Title of Each Class
 
Name of Each Exchange On Which Registered

Securities registered pursuant to Section 12(g) of the Act:  Common Stock, par value $0.0001

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ]  No [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ]  No [X]

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. Yes [X]  No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registration statement was required to submit and post such files). Yes [X]  No [  ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [   ]
Accelerated filer  [   ]
Non-accelerated filer  [   ]
(Do not check if a smaller reporting company)
Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [  ]  No [X]

The aggregate market value of common stock held by non-affiliates of the registrant was $51,798,354 as of the last business day of the registrant's most recently completed second fiscal quarter ended July 31, 2015.

Indicate the number of shares outstanding of each of the registrant's classes of common stock as of the latest practicable date: 74,976,241shares as of May 12, 2016.

DOCUMENTS INCORPORATED BY REFERENCE

None.

 
TABLE OF CONTENTS

   
Page
   
Item 1.
 3
Item 1A.
 7
Item 1B.
 7
Item 2.
 7
Item 3.
 7
Item 4.
 7
   
Item 5.
 7
Item 6.
 10
Item 7.
 10
Item 7A.
 15
Item 8.
 16
Item 9.
 34
Item 9A.
 35
Item 9B.
 35
   
Item 10.
 36
Item 11.
 38
Item 12.
 39
Item 13.
 40
Item 14.
 40
   
Item 15.
 41
   42
 
 
 
Cautionary Note Regarding Forward-Looking Statements

Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).  Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses.  Such forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes" and similar language.  Our actual results may differ significantly from those projected in the forward-looking statements.  Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the sections "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations."  You should carefully review the risks described in this Annual Report on Form 10-K and in other documents we file from time to time with the Securities and Exchange Commission.  You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report.  We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.

All references in this Form 10-K to the "Company," "Resort Savers", "we," "us" or "our" are to Resort Savers, Inc.

Part I
Item 1.  Business.

Resort Savers, Inc. (the “Company” or “Resort Savers”) was incorporated in the State of Nevada on June 25, 2012.  At formation, the Company was authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share, and 15,000,000 shares of preferred stock, par value $0.0001 per share,.  Our fiscal year end is January 31.  Resort Savers has limited cash on hand.  We have sustained losses since inception and have relied solely upon the sale of our securities for funding.  Resort Savers has never declared bankruptcy, been in receivership, or been involved in any kind of legal proceeding.

On August 1, 2014, a change of control of the Company occurred, whereby a controlling interest in the Company was sold by Michelle LaCour, our former President, Chief Executive Officer, Chief Financial Officer, Treasurer and director and a former 5% stockholder, and James LaCour, our former Secretary and director and a former 5% stockholder, to the following: (1) Zhou Gui Bin (236,733 shares at a purchase price of $0.20 per share); (2) Zhou Wei (236,733 shares at a purchase price of $0.20 per share); and (3) Zong Xin International Investment Holdings Co. LTD (“Zong Xin”) (1,636,734 shares at a purchase price of $0.20 per share).

On September 25, 2014 the Company effected a forward stock split of 10 shares of common stock for each share held, or an additional nine shares were issued for each common share held. All share and per share information has been retroactively restated for financial presentation of prior periods.

From January 2015 through March 2015, the Company issued an aggregate of 28,708,315 shares of common stock, par value $0.0001 per share, of the Company to unaffiliated investors, none of whom reside in the United States. More specifically, (i) on January 31, 2015, the Company issued 23,684,360 shares of common stock of the Company to unaffiliated investors at $0.07 per shares for $1,650,000, and (ii) in March 2015, the Company issued 5,023,955 shares of common stock of the Company to unaffiliated investors in exchange for 1,000,000 common shares of Borneo Resource Investments Ltd (“BRI”), with a value of $350,000.
Worx America, Inc.

From January 2015 through March 2015, the Company, by and through its wholly owned subsidiary, Xing Rui International Investment Holding Group Co., Ltd., a Seychelles corporation (“Xing Rui”), acquired 20,068,750 common shares of Worx America, Inc. (“Worx”), a private company based in Houston, Texas, in exchange for $1,650,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 20,068,750 common shares of Worx, representing 20% of Worx's the then issued and outstanding voting common stock on a fully converted and diluted basis.  More specifically, (i) on January 28, 2015, $350,000 cash was paid by the Company to Worx in exchange of 5,403,728 common shares of Worx and (ii) on March 20, 2015, $1,300,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 14,665,022 common shares of Worx. This investment was accounted for under equity method with initial cost of $2,000,000.

Worx designs automated solutions for industrial, environmental and energy industries to improve efficiency and systems output.  The Worx automated robotic tank cleaning system reduces tank cleaning time, reduces or eliminates the need for personnel to enter tanks, and may reduce the volume of solvents used to clean a tank. Actual results vary from tank to tank and may involve variables including the product in the tank, physical condition of the tank such as corrosion, or amount of sludge accumulated. Worx is currently refining its product line to improve speed and efficiency.  Our investment in Worx has facilitated this development. We hope that our investment into what we believe is an important technology will give us early access to the technology, establish relationships in the industry, and allow us to assist Worx with the launch of its commercial products in China and other parts of Asia.

Shenzhen Amuli Industrial Development Co. Ltd.

On October 1, 2015, the Company’s wholly-owned subsidiary, Xing Rui, by and through a newly formed People’s Republic of China (the “PRC”) corporation subsidiary Huaxin Changrong (Shenzhen) Technology Service Company Limited (“Huaxin”), completed a purchase from Xu Xiao Yun of sixty percent (60%) of the shares of Shenzhen Amuli Industrial Development Co. Ltd., a PRC corporation (“Amuli”), for 3,033,926 shares of the Company’s common stock.  The purchase price was valued $2,400,000.

Apart from the transactions described above, neither the Company nor any of its subsidiaries has a material relationship with either Mr. Xu Xiao Yun or Amuli.

Amuli is in development to become a large producer of the health beverage drink Kvass. Amuli has purchased equipment and is currently expanding its production facilities that are forecasted to generate sales and profits in 2016.

On October 9, 2015, we amended our certificate of incorporation to increase the maximum number of shares of common stock that the Company shall be authorized to have outstanding at any time to 1,000,000,000 shares.

Beijing Yandong Tieshan Oil Products Co., Ltd.

On January 29, 2016, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with Mr. Yang Baojin, a citizen of the PRC, and Huaxin, which is a wholly owned subsidiary of Xing Rui, whereas Xing Rui itself is a wholly owned subsidiary of the Company. Mr. Baojin is the president and majority owner of Beijing Yandong Tieshan Oil Products Co., Ltd., a corporation organized under the laws of the PRC (“BYTOC”).

The Exchange Agreement provides that the Company will issue 6,000,000 shares of its common stock to Mr. Baojin, and Mr. Baojin will deliver to Huaxin an ownership interest in BYTOC such that Huaxin will own 51% of all ownership interests in BYTOC, provided that 1,200,000 shares of the Company’s common stock (20% of the common stock to be delivered to Mr. Baojin) will be withheld by the Company for a period of 12 months in order to secure against breach by Mr. Baojin of his representations and warranties contained in the Agreement, as well as to secure the fulfillment of his covenants and further obligations under the Exchange Agreement (the “Exchange”).

BYTOC is principally engaged in the trading of oil, gas and lubricant products within the PRC. Apart from the transactions pursuant to the Exchange Agreement, neither the Company nor any of its subsidiaries has a material relationship with either Mr. Baojin or BYTOC.
 
Under the Exchange Agreement, Mr. Baojin guarantees, for five years, that BYTOC will have an annual net income of Renminbi (the currency of the PRC – “RMB”) 10 million.  To the extent that in any year the actual net income of BYTOC is less than RMB 10 million, then Mr. Baojin will pay Huaxin a cash payment equal to 51% of the shortfall.

The Exchange Agreement was approved by a written consent of the Board of Directors of the Company on January 29, 2016 and the closing of the transactions under the Exchange Agreement occurred concurrently with the execution and delivery of the Exchange Agreement.

As a result of the closing of the transactions under the Exchange Agreement, Huaxin now owns a majority of the ownership interest of BYTOC.  Pursuant to the Exchange Agreement, as soon as reasonably practicable following the closing, the parties will amend the articles of association and bylaws of BYTOC so as to require a vote of the majority of the ownership interests in BYTOC to (i) approve the acquisition of BYTOC by means of a merger, (ii) approve the sale of substantially all assets of BYTOC, (iii) liquidate, dissolve or wind-up the business and affairs of BYTOC, (iv) amend, alter or repeal any provision of the articles of association or bylaws of BYTOC, (v) create any class or series of capital stock of BYTOC, (vi) pay or declare any dividend or make any distribution on any shares of capital stock of BYTOC, (vii) issue any debt security, and/or (viii) elect each member of the board of directors of BYTOC.

The total value of the exchange, based on the value of the Company’s common stock as of the close of trading on January 28, 2016, was $3,435,000.

Kashi Jinju Colour Printing Packaging Co. LTD.

On May 12, 2015, the Company, by and through its wholly-owned subsidiary, Xing Rui signed a definitive Letter of Intent with the stockholders of Kashi Jinju Colour Printing Packaging Co. LTD., a PRC corporation ("Kashi Jinju") which manufactures cardboard boxes. The stockholders of Kashi Jinju and the Company intend to enter into a share exchange, wherein the stockholders of Kashi Jinju will exchange 80% of the issued and outstanding shares of stock of Kashi Jinju for 32,000,000 shares of the Company’s common stock.  As of January 31, 2016, the Company and Kashi Jinju are still working towards satisfying conditions of the Letter of Intent, including regulatory approvals and licensing in the PRC, which are required to close the transaction.

Principal Products, Services and Their Markets

As set forth above, we have ownership interests in Worx, Amuli and BYTOC.

Worx designs automated solutions for industrial, environmental and energy industries to improve efficiency and systems output.  The Worx automated robotic tank cleaning system reduces tank cleaning time, reduces or eliminates the need for personnel to enter tanks, and may reduce the volume of solvents used to clean a tank. Actual results vary from tank to tank and may involve variables including the product in the tank, physical condition of the tank such as corrosion, or amount of sludge accumulated. Worx is currently refining its product line to improve speed and efficiency.  Our investment in Worx has facilitated this development. We hope that our investment into what we believe is an important technology will give us early access to the technology, establish relationships in the industry, and allow us to assist Worx with the launch of its commercial products in China and other parts of Asia.

Amuli is in development to become a large producer of the health beverage drink Kvass. Amuli has purchased equipment and is currently expanding its production facilities that are forecasted to generate sales and profits in 2016.

BYTOC is principally engaged in the trading of oil, gas and lubricant products within the PRC.

We are also seeking additional global investment opportunities in emerging companies with products that have potential for expanding regional and international sales and revenues.

Competitive Business Conditions and Strategy; Resort Savers' Position in the Industry

Barrier to entry in the industry is extremely low and there are many competitors.  Our competitors have significantly greater financial and marketing resources than we do. There are no assurances that our efforts to compete in the marketplace will be successful.
Patents, Trademarks, Licenses, Agreements or Contracts

There are no aspects of our business plan which require a patent, trademark, or product license. We have not entered into any vendor agreements or contracts that give or could give rise to any obligations or concessions.

Research and Development Activities and Costs

We have spent no time on specialized research and development activities, and have no plans to undertake any research or development in the future.

Number of Employees

Resort Savers has hired 10 employees and we do not anticipate hiring more employees in the near future. Our officers and directors are donating their time and are committed to developing our company and a revenue stream. We engaged an independent contractor to design and develop our website. We also intend to do so to develop a reservation system, and manage our internet marketing efforts.

Reports to Security Holders

The public may read and copy any materials filed with the SEC at the SEC's Public Reference Room at 100 F Street NE, Washington, DC 20549.  The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.  The SEC maintains an Internet site that contains reports and other electronic information regarding Resort Savers, Inc. and filed with the SEC at http://www.sec.gov.

Emerging Growth Company and Smaller Reporting Company Status

Emerging Growth Company

We are an “emerging growth company” as defined in Section 2(a)(19) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging growth companies” including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. We intend to take advantage of all of these exemptions.

In addition, Section 107 of the JOBS Act also provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards, and delay compliance with new or revised accounting standards until those standards are applicable to private companies. We have elected to take advantage of the benefits of this extended transition period.

We could be an emerging growth company until the last day of the first fiscal year following the fifth anniversary of our first common equity offering, although circumstances could cause us to lose that status earlier if our annual revenues exceed $1.0 billion, if we issue more than $1.0 billion in non-convertible debt in any three-year period or if we become a “large accelerated filer” as defined in Rule 12b-2 under the Exchange Act.

Smaller Reporting Company

We also qualify as a “smaller reporting company” under Rule 12b-2 of the Exchange Act, which is defined as a company with a public equity float of less than $75 million. To the extent that we remain a smaller reporting company at such time as are no longer an emerging growth company, we will still have reduced disclosure requirements for our public filings, some of which are similar to those of an emerging growth company, including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act and the reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements.
Item 1A.  Risk Factors

As a "smaller reporting company," we are not required to provide the information required by this Item.

Item 1B.  Unresolved Staff Comments.

None.

Item 2.  Properties.

Resort Savers' principal business and corporate address is No. 10-2-4B, Jin Di Shang Tang Garden, Long Hua Xin Qu Shang Tang Road, Shenzhen, Guang Dong, China 518000 ; the telephone number is 0086-0755-23106825. Other than this mailing address, the Company does not currently maintain any physical or other office facilities, and does not anticipate the need for maintaining office facilities at any time in the foreseeable future. The Company pays no rent or other fees for the use of the mailing address as this address is used virtually full-time by activities of a shareholder of the Company. ​

We do not currently have any investments or other interests in any real estate, nor do we have investments or an interest in any real estate mortgages or securities of persons engaged in real estate activities.

Item 3.  Legal Proceedings.

We are not involved in any pending legal proceeding nor are we aware of any pending or threatened litigation against us.

Item 4.  Mine Safety Disclosures.

Not applicable.

PART II
Item 5.  Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Market Information

Our common stock is not traded on any exchange, but is currently available for trading in the over - the - counter market and is quoted on the OTCQB operated by the OTC Markets Group, Inc. under the symbol "RSSV." Trading in stocks quoted on these markets is often thin and is characterized by wide fluctuations in trading prices due to many factors that may have little to do with a company's operations or business prospects.

Over the counter securities are not listed or traded on the floor of an organized national or regional stock exchange. Instead, these securities transactions are conducted through a telephone and computer network connecting dealers in stocks. Over the counter issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange.

Trades in our common stock may be subject to Rule 15g-9 of the Exchange Act, which imposes requirements on broker/dealers who sell securities subject to the rule to persons other than established customers and accredited investors. For transactions covered by the rule, broker/dealers must make a special suitability determination for purchasers of the securities and receive the purchaser's written agreement to the transaction before the sale.
The SEC also has rules that regulate broker/dealer practices in connection with transactions in "penny stocks." Penny stocks generally are equity securities with a price of less than $5.00 (other than securities listed on certain national exchanges, provided that the current price and volume information with respect to transactions in that security is provided by the applicable exchange or system).  The penny stock rules require a broker/dealer, before effecting a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document prepared by the SEC that provides information about penny stocks and the nature and level of risks in the penny stock market.  The broker/dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker/dealer and its salesperson in the transaction, and monthly account statements showing the market value of each penny stock held in the customer's account.  The bid and offer quotations, and the broker/dealer and salesperson compensation information, must be given to the customer orally or in writing before effecting the transaction, and must be given to the customer in writing before or with the customer's confirmation.  These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for shares of our common stock.  As a result of these rules, investors may find it difficult to sell their shares.

Set forth below are the range of high and low bid quotations for the periods indicated as reported by the OTC Markets Group, since approval for our quotation on April 7, 2014. The market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commissions and may not necessarily represent actual transactions.

Quarter Ended
 
High
   
Low
 
January 31, 2016
 
$
0.67
   
$
0.36
 
October 31, 2015
 
$
0.83
   
$
0.60
 
July 31, 2015
 
$
0.83
   
$
0.42
 
April 30, 2015
 
$
0.73
   
$
0.45
 

Quarter Ended
 
High
   
Low
 
January 31, 2015
 
$
0.45
   
$
0.30
 
October 31, 2014
 
$
0.40
   
$
0.003
 
July 31, 2014
 
$
0.003
   
$
0.003
 
 May 30, 2014
 
$
0.003
   
$
0.003
 

On May 9, 2016, the closing price of our common stock as reported by the OTC Markets was $0.50 per share.

As of April 30, 2016, there were 163 stockholders of record and an aggregate of 74,976,241 shares of our common stock were issued and outstanding.  Of the 74,976,241 shares of common stock outstanding, 4,734,660 were held by our two officers and directors and may only be resold in compliance with Rule 144 of the Securities Act of 1934, and since we were considered a shell company, any restricted stock will not be eligible for resale under Rule 144 until the conditions of Rule 144(i) are met.

Dividend Policy

The Company does not anticipate paying dividends on the common stock at any time in the foreseeable future.  The Company's Board of Directors currently plans to retain earnings for the development and expansion of the Company's business.  Any future determination as to the payment of dividends will be at the discretion of the Board of Directors of the Company and will depend on a number of factors including future earnings, capital requirements, financial conditions and such other factors as the Board of Directors may deem relevant.

Equity Compensation Plan Information

We do not have in effect any compensation plans under which our equity securities are authorized for issuance and we do not have any outstanding stock options.
 
Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities

From January 2015 through March 2015, the Company issued an aggregate of 28,708,315 shares of common stock, par value $0.0001 per share, of the Company to unaffiliated investors, none of whom reside in the United States. More specifically, (i) on January 31, 2015, the Company issued 23,684,360 shares of common stock of the Company to unaffiliated investors at $0.07 per shares for $1,650,000, and (ii) in March 2015, the Company issued 5,023,955 shares of common stock of the Company to unaffiliated investors in exchange for 1,000,000 common shares of BRI with a value of $350,000.

Worx America, Inc.

From January 2015 through March 2015, the Company, by and through its wholly owned subsidiary, Xing Rui, acquired 20,068,750 common shares of Worx, in exchange for $1,650,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 20,068,750 common shares of Worx, representing 20% of Worx's the then issued and outstanding voting common stock on a fully converted and diluted basis.  More specifically, (i) on January 28, 2015, $350,000 cash was paid by the Company to Worx in exchange of 5,403,728 common shares of Worx and (ii) on March 20, 2015, $1,300,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 14,665,022 common shares of Worx. This investment was accounted for under equity method with initial cost of $2,000,000.

Shenzhen Amuli Industrial Development Co. Ltd.

On October 1, 2015, the Company’s wholly-owned subsidiary, Xing Rui, by and through a newly formed PRC corporation subsidiary Huaxin, completed a purchase of sixty percent (60%) of the shares of Amuli, for 3,033,926 shares of the Company’s common stock.  The purchase price was valued $2,400,000 (RMB15,000,000).

Amuli is in development to become a large producer of the health beverage drink Kvass. Amuli has purchased equipment and is currently expanding its production facilities that are forecasted to generate sales and profits in 2016.

Beijing Yandong Tieshan Oil Products Co., Ltd.

On January 29, 2016, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with Mr. Yang Baojin, a citizen of the PRC, and Huaxin, which is a wholly owned subsidiary of Xing Rui, which is a wholly owned subsidiary of the Company. Mr. Baojin is the president and majority owner of BYTOC.

The Exchange Agreement provides that the Company will issue 6,000,000 shares of its common stock to Mr. Baojin, and Mr. Baojin will deliver to Huaxin an ownership interest in BYTOC such that Huaxin will own 51% of all ownership interests in BYTOC, provided that 1,200,000 shares of the Company’s common stock (20% of the common stock to be delivered to Mr. Baojin) will be withheld by the Company for a period of 12 months in order to secure against breach by Mr. Baojin of his representations and warranties contained in the Agreement, as well as to secure the fulfillment of his covenants and further obligations under the Exchange Agreement (the “Exchange”).

Purchase of Equity Securities by the Issuer and Affiliated Purchasers

We did not purchase any of our shares of common stock or other securities during our fiscal year ended January 31, 2016.

Description of Securities

Authorized Capital Stock

Our authorized capital stock consists of 1,000,000,000 shares of common stock, par value $0.0001 per share, and 15,000,000 shares of preferred stock, par value $0.0001.
Common Stock

As of April 30, 2016, 74,976,241 shares of common stock, held by 163 stockholders, were issued and outstanding. Holders of our common stock are entitled to one vote for each share on all matters submitted to a stockholder vote.

Holders of our common stock:

· have equal ratable rights to dividends from funds legally available, therefore, when, as and if declared by our Board,
· are entitled to share in all of our assets available for distribution to holders of common stock upon liquidation, dissolution or winding up of our affairs, and
· do not have preemptive, subscription or conversion rights and there are no redemption or sinking fund provisions or rights.

Non-cumulative Voting

Holders of shares of our common stock do not have cumulative voting rights, meaning that the holders of 50.1% of the outstanding shares, voting for the election of directors, can elect all of the directors to be elected, and, in such event, the holders of the remaining shares will not be able to elect any of our directors.

Cash Dividends

Historically, we have not paid any cash dividends to stockholders. The declaration of any future cash dividend will be at the discretion of our Board and will depend upon our earnings, if any, our capital requirements and financial position, our general economic conditions, and other pertinent conditions. It is our present intention not to pay any cash dividends in the foreseeable future, but rather to reinvest earnings, if any, in our business operations.

Item 6.  Selected Financial Data.

As a "smaller reporting company," we are not required to provide the information required by this Item.

Item 7.  Management's Discussion and Analysis of Financial Condition and Results of Operations.

Overview

Resort Savers was incorporated in the State of Nevada on June 25, 2012.  At formation, the Company was authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share, and 15,000,000 shares of preferred stock, par value $0.0001 per share,.  Our fiscal year end is January 31.  Resort Savers has limited cash on hand.  We have sustained losses since inception and have relied solely upon the sale of our securities for funding.  Resort Savers has never declared bankruptcy, been in receivership, or been involved in any kind of legal proceeding.

On August 1, 2014, a change of control of the Company occurred, whereby a controlling interest in the Company was sold by Michelle LaCour, our former President, Chief Executive Officer, Chief Financial Officer, Treasurer and director and a former 5% stockholder, and James LaCour, our former Secretary and director and a former 5% stockholder, to the following: (1) Zhou Gui Bin (236,733 shares at a purchase price of $0.20 per share); (2) Zhou Wei (236,733 shares at a purchase price of $0.20 per share); and (3) Zong Xin (1,636,734 shares at a purchase price of $0.20 per share).

On September 25, 2014 the Company effected a forward stock split of 10 shares of common stock for each share held, or an additional nine shares were issued for each common share held. All share and per share information has been retroactively restated for financial presentation of prior periods.

From January 2015 through March 2015, the Company issued an aggregate of 28,708,315 shares of common stock, par value $0.0001 per share, of the Company to unaffiliated investors, none of whom reside in the United States. More specifically, (i) on January 31, 2015, the Company issued 23,684,360 shares of common stock of the Company to unaffiliated investors at $0.07 per shares for $1,650,000, and (ii) in March 2015, the Company issued 5,023,955 shares of common stock of the Company to unaffiliated investors in exchange for 1,000,000 common shares of Borneo Resource Investments Ltd, with a value of $350,000.
Worx America, Inc.

From January 2015 through March 2015, the Company, by and through its wholly owned subsidiary, Xing Rui, acquired 20,068,750 common shares of Worx, in exchange for $1,650,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 20,068,750 common shares of Worx, representing 20% of Worx's the then issued and outstanding voting common stock on a fully converted and diluted basis.  More specifically, (i) on January 28, 2015, $350,000 cash was paid by the Company to Worx in exchange of 5,403,728 common shares of Worx and (ii) on March 20, 2015, $1,300,000 cash and 1,000,000 shares of common stock of BRI with a value of $350,000 were paid by the Company to Worx in exchange of 14,665,022 common shares of Worx. This investment was accounted for under equity method with initial cost of $2,000,000.

Worx designs automated solutions for industrial, environmental and energy industries to improve efficiency and systems output.  The Worx automated robotic tank cleaning system reduces tank cleaning time, reduces or eliminates the need for personnel to enter tanks, and may reduce the volume of solvents used to clean a tank. Actual results vary from tank to tank and may involve variables including the product in the tank, physical condition of the tank such as corrosion, or amount of sludge accumulated. Worx is currently refining its product line to improve speed and efficiency.  Our investment in Worx has facilitated this development. We hope that our investment into what we believe is an important technology will give us early access to the technology, establish relationships in the industry, and allow us to assist Worx with the launch of its commercial products in China and other parts of Asia.

Shenzhen Amuli Industrial Development Co. Ltd.

On October 1, 2015, the Company’s wholly-owned subsidiary, Xing Rui, by and through a newly formed PRC corporation subsidiary Huaxin, completed a purchase of sixty percent (60%) of the shares of Amuli, for 3,033,926 shares of the Company’s common stock.  The purchase price was valued $2,400,000.

Amuli is in development to become a large producer of the health beverage drink Kvass. Amuli has purchased equipment and is currently expanding its production facilities that are forecasted to generate sales and profits in 2016.

On October 9, 2015, we amended our certificate of incorporation to increase the maximum number of shares of common stock that the Company shall be authorized to have outstanding at any time to 1,000,000,000 shares.

Beijing Yandong Tieshan Oil Products Co., Ltd.

On January 29, 2016, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with Mr. Yang Baojin, a citizen of the PRC, and Huaxin, which is a wholly owned subsidiary of Xing Rui, which is a wholly owned subsidiary of the Company. Mr. Baojin is the president and majority owner of BYTOC.

The Exchange Agreement provides that the Company will issue 6,000,000 shares of its common stock to Mr. Baojin, and Mr. Baojin will deliver to Huaxin an ownership interest in BYTOC such that Huaxin will own 51% of all ownership interests in BYTOC, provided that 1,200,000 shares of the Company’s common stock (20% of the common stock to be delivered to Mr. Baojin) will be withheld by the Company for a period of 12 months in order to secure against breach by Mr. Baojin of his representations and warranties contained in the Agreement, as well as to secure the fulfillment of his covenants and further obligations under the Exchange Agreement (the “Exchange”).

BYTOC is principally engaged in the trading of oil, gas and lubricant products within the PRC. Apart from the transactions pursuant to the Exchange Agreement, neither the Company nor Huaxin has a material relationship with either of Mr. Baojin or BYTOC.
Under the Exchange Agreement, Mr. Baojin guarantees, for five years, that BYTOC will have an annual net income of Renminbi (the currency of the PRC – “RMB”) 10 million.  To the extent that in any year the actual net income of BYTOC is less than RMB 10 million, then Mr. Baojin will pay Huaxin a cash payment equal to 51% of the shortfall.

The Exchange Agreement was approved by a written consent of the Board of Directors of the Company on January 29, 2016 and the closing of the transactions under the Exchange Agreement occurred concurrently with the execution and delivery of the Exchange Agreement.

As a result of the closing of the transactions under the Exchange Agreement, Huaxin now owns a majority of the ownership interest of BYTOC.  Pursuant to the Exchange Agreement, as soon as reasonably practicable following the closing, the parties will amend the articles of association and bylaws of BYTOC so as to require a vote of the majority of the ownership interests in BYTOC to (i) approve the acquisition of BYTOC by means of a merger, (ii) approve the sale of substantially all assets of BYTOC, (iii) liquidate, dissolve or wind-up the business and affairs of BYTOC, (iv) amend, alter or repeal any provision of the articles of association or bylaws of BYTOC, (v) create any class or series of capital stock of BYTOC, (vi) pay or declare any dividend or make any distribution on any shares of capital stock of BYTOC, (vii) issue any debt security, and/or (viii) elect each member of the board of directors of BYTOC.

The total value of the exchange, based on the value of the Company’s common stock as of the close of trading on January 28, 2016, was $3,435,000.

The following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this annual report.

Our audited financial statements are stated in U.S. dollars and are prepared in accordance with U.S. generally accepted accounting principles.

Results of Operations

We have generated no revenues since inception (June 25, 2012) and have incurred $4,280,613 in expenses through the year ended January 31, 2016.

The following table provides selected financial data about our company as at January 31, 2016 and 2015.

Balance sheet Data:

Balance Sheet Date
 
January 31, 2016
   
January 31, 2015
 
             
Cash
 
$
226,638
   
$
1,300,000
 
Total Assets
 
$
31,063,457
   
$
1,650,000
 
Total Liabilities
 
$
22,519,828
   
$
7,416
 
Stockholders' Equity
 
$
8,543,629
   
$
1,642,584
 

As at January 31, 2016, our current assets were $26,957,038 and our current liabilities were $22,519,828, which resulted in working capital of $4,437,210.  As at January 31, 2016, current assets were comprised of $226,638 in cash, $25,047,810 in accounts receivable, $1,678,461 in prepaid expenses and deposits, and $4,129 in other receivables as compared to $1,300,000 in cash at January 31, 2015.  At January 31, 2016, current liabilities were comprised of $5,688,536 in accounts payable, $3,080,000 in short-term loans, $13,496,941 in deposits received, $241,894 in amounts due to related parties, $11,163 in tax payable, and $1,294 in other payables as compared to $7,416 in accounts payable at January 31, 2015. Stockholders' equity was $8,543,629 as of January 31, 2016, as compared to $1,642,584 as of January 31, 2015.
The following summary of our results of operations, for the years ended January 31, 2016 and January 31, 2015, should be read in conjunction with our financial statements, as included in this annual report on Form 10-K.
 
 
 
Year Ended January 31, 2016
   
Year Ended January 31, 2015
 
REVENUE
 
$
-
   
$
-
 
 
               
OPERATING EXPENSES
               
General and administrative
   
36,030
     
131
 
Professional fees
   
146,667
     
49,523
 
Management fees
   
-
     
9,414
 
      Total Operating Expenses
   
182,697
     
59,068
 
 
               
LOSS FROM OPERATIONS
   
(182,697
)
   
(59,068
)
 
               
OTHER EXPENSE
               
Goodwill impairment
   
(4,005,224
)
   
-
 
Equity loss on unconsolidated affiliate investment
   
(92,692
)
   
-
 
      Total Other Expense, Net
   
(4,097,916
)
   
-
 
NET LOSS
   
(4,280,613
)
       
 Net loss attributable to the noncontrolling interest
   
1,608,201
         
NET LOSS ATTRIBUTABLE TO THE SHAREHOLDERS OF RESORT SAVERS, INC.
 
$
(2,672,412
)
 
$
(59,068
)
 
Revenues

We did not generate any revenues during the years ended January 31, 2016 and 2015.

Operating Expenses

Operating expenses for the year ended January 31, 2016, increased to $182,697 by $123,629 from $59,068 for the year ended January 31, 2015. The increase in expenses can be attributed to increased professional fees and general and administrative expenses.  Our professional fees of $146,667 were primarily due to legal and accounting fees related to our acquisitions in fiscal year ended January 31, 2016 and regulatory costs of a reporting company.

Other Expenses

Other expenses for the year ended January 31, 2016 were $4,097,916 as compared to $0 for the year ended January 31, 2015. The other expenses for the year ended January 31, 2016 can be attributed to $4,005,224 in goodwill impairment and $92,692 in equity loss on unconsolidated affiliate investment.

Net Loss

Net losses for the year ended January 31, 2016, increased to $2,672,412 by $2,613,344 from $59,068 for the year ended January 31, 2015.  The increase in net losses can be attributed to an increase in losses from operations as well as an increase in other expenses.
Liquidity and Financial Condition
 
Working Capital
           
 
January 31,
 
January 31,
     
 
2016
 
2015
 
Increase
 
Current Assets
 
$
26,957,038
   
$
1,300,000
   
$
25,657,038
 
Current Liabilities
   
22,519,828
     
7,416
     
22,512,412
 
Working Capital
 
$
4,437,210
   
$
1,292,584
   
$
3,144,626
 
 
Cash Flows
       
 
Year Ended
 
Year Ended
 
 
January 31,
 
January 31,
 
 
2016
 
2015
 
Net Cash Used in Operating Activities
 
$
(23,113
)
 
$
(57,657
)
Net Cash Used in Investing Activities
   
(1,300,000
)
   
(350,000
)
Net Cash Provided by Financing Activities
   
241,894
     
1,676,674
 
Effect of changes in foreign exchange rate
   
7,857
     
-
 
Net Increase (Decrease) in Cash During the Year
 
$
(1,073,362
)
 
$
1,269,017
 
 
Cash Flow from Operating Activities

During the year ended January 31, 2016, our company used $23,113 in cash from operating activities compared to the use of $57,657 of cash for operating activities during the year ended January 31, 2015.  The increase in cash used for operating activities was primarily attributed to professional fees related to regulatory and reporting requirements.

Cash Flow from Investing Activities

During the year ended January 31, 2016 and 2015, we used $1,300,000 and $350,000, respectively, to invest in Worx.

Cash Flow from Financing Activities

During the year ended January 31, 2016, our company received $241,894 in cash in financing activities, consisting of $241,894 in loans from related parties, compared to cash provided by financing activities of $1,676,674 for the year ended January 31, 2015, consisting of $1,654,995 from proceeds from the issuance of common shares to unaffiliated investors and $21,679 loan from related parties.

Plan of Operation

Since the inception of the Company, we have generated no revenues, incurred significant losses and relied upon capital raised from affiliates and third parties. The Company makes investments and acquisitions into sound, transparent markets and industries throughout the world. In China, the Company has invested in companies with innovative and market-ready petroleum industry technologies for potential installation and distribution throughout the Greater China market.

Amuli has purchased equipment and is currently expanding its production facilities that are forecasted to generate sales and profits in 2016.  In light of our recent investment in Worx and acquisitions of BYTOC and Amuli, we anticipate generating revenues from the operations of such entities during the next 12 months.  Notwithstanding, in light of our ongoing expenses, our management cannot provide any assurances that such revenue will be sufficient to cover all of our expenses or that our Company will ever operate profitably.

During the next year of operations, our officers and directors will also provide their labor at no charge.  We have hired 10 staff and do not anticipate hiring any more staff in the next 12 months of operation.
We are a public entity, subject to the reporting requirements of the Exchange Act. We will incur ongoing expenses associated with professional fees for accounting, legal and a host of other expenses for annual reports and proxy statements.  We estimate that these accounting, legal and other professional costs would be a minimum of $30,000 in the next year and will be higher, in the following years, if our business volume and activity increases.  Increased business activity could greatly increase our professional fees for reporting requirements and this could have a significant impact on future operating costs.  The difference between having the ability to sustain our cash flow requirements over the next twelve months and the need for additional outside funding will depend on how fast we can generate sales revenue.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us on which to base an evaluation of our performance.  We have generated no revenues from operations.  We cannot guarantee we will be successful in our business operations.  Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to the price and cost increases in supplies and services.

If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.

Liquidity and Capital Resources

Our financial statements from June 25, 2012 (date of inception) through the period ended January 31, 2016, reported no revenues and a net loss of $2,764,063.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk.

As a "smaller reporting company", we are not required to provide the information required by this Item.
 
Item 8.  Financial Statements and Supplementary Data.

RESORT SAVERS, INC.

INDEX TO THE AUDITED FINANCIAL STATEMENTS

Years ended January 31, 2016 and 2015

TABLE OF CONTENTS

 
Page
 17
   
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 19
   
 20
   
 21
   
 22

 
 
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
To the Board of Directors and Stockholders of Resort Savers, Inc.
(Incorporated in the State of Nevada, United States of America)

We have audited the accompanying consolidated balance sheets of Resort Savers, Inc. and subsidiaries as of January 31, 2016 and January 31, 2015, and the consolidated statements of operations and other comprehensive income, the consolidated statements of stockholders’ equity, and the consolidated statements of cash flows for the years ended January 31, 2016 and January 31, 2015. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (“PCAOB”).Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor have we been engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, these consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Resort Savers, Inc. and subsidiaries as of January 31, 2016 and January 31, 2015, and the consolidated results of its operations and its cash flows for each of the years ended January 31, 2016 and January 31, 2015, in conformity with accounting principles generally accepted in the United States of America.


/s/Anthony Kam & Associates Limited
Anthony Kam & Associates Limited
Certified Public Accountants
May 13, 2016
Hong Kong, China
 
 
 
17

 
RESORT SAVERS, INC.
Consolidated Balance Sheets

   
January 31, 2016
   
January 31, 2015
 
             
 ASSETS
           
 Current Assets
           
    Cash and cash equivalents
 
$
226,638
   
$
1,300,000
 
    Accounts receivable
   
25,047,810
     
-
 
    Other receivable
   
4,129
     
-
 
    Prepaid expenses and deposits
   
1,678,461
     
-
 
       Total Current Assets
   
26,957,038
     
1,300,000
 
 Equipment
   
219,324
     
-
 
 Investment
   
1,907,308
     
350,000
 
 Goodwill
   
1,979,787
     
-
 
 TOTAL ASSETS
   
31,063,457
     
1,650,000
 
                 
 LIABILITIES AND STOCKHOLDERS' EQUITY
               
 Current Liabilities
               
    Accounts payable
 
$
5,688,536
   
$
7,416
 
    Short-term loan
   
3,080,000
     
-
 
    Deposits received
   
13,496,941
     
-
 
    Due to related parties
   
241,894
     
-
 
    Tax payable
   
11,163
     
-
 
    Other payable
   
1,294
     
-
 
 TOTAL LIABILITIES
   
22,519,828
     
7,416
 
                 
 COMMITMENTS AND CONTINGENCIES
   
-
     
-
 
                 
 STOCKHOLDERS’ EQUITY
               
Preferred stock, $0.0001 par value; 15,000,000 shares authorized; 0 shares issued and outstanding
   
-
     
-
 
Common stock, $0.0001 par value; 1,000,000,000 shares authorized; 74,976,241 and 62,121,360 shares issued and outstanding, respectively
   
7,498
     
6,212
 
 Contingently issuable common stock
   
120
     
-
 
 Contingently liability on issuable common stock
   
687,000
     
-
 
 Additional paid-in capital
   
7,320,287
     
1,728,023
 
 Accumulated deficit
   
(2,764,063
)
   
(91,651
)
 Accumulated other comprehensive income
   
416
     
-
 
 Total Resort Savers, Inc. shareholders' equity
   
5,251,258
     
1,642,584
 
 Noncontrolling interest
   
3,292,371
     
-
 
 Total equity
   
8,543,629
     
1,642,584
 
 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
 
$
31,063,457
   
$
1,650,000
 

* Common stock retroactively adjusted for 10:1 forward stock split, effective September 25, 2014.


The notes are an integral part of these financial statements.
 
RESORT SAVERS, INC.
Consolidated Statements of Operations and Other Comprehensive Income

   
Years Ended
 
   
January 31,
 
   
2016
   
2015
 
             
REVENUE
 
$
-
   
$
-
 
                 
OPERATING EXPENSES
               
General and administrative
   
36,030
     
131
 
Professional fees
   
146,667
     
49,523
 
Management fees
   
-
     
9,414
 
      Total Operating Expenses
   
182,697
     
59,068
 
                 
LOSS FROM OPERATIONS
   
(182,697
)
   
(59,068
)
                 
OTHER EXPENSE
               
Goodwill impairment
   
(4,005,224
)
   
-
 
Equity loss on unconsolidated affiliate investment
   
(92,692
)
   
-
 
      Total Other Expense, Net
   
(4,097,916
)
   
-
 
                 
LOSS BEFORE INCOME TAXES
   
(4,280,613
)
   
(59,068
)
Provision for income taxes
   
-
     
-
 
                 
NET LOSS
   
(4,280,613
)
   
(59,068
)
Net loss attributable to the noncontrolling interest
   
1,608,201
     
-
 
NET LOSS ATTRIBUTABLE TO THE SHAREHOLDERS OF RESORT SAVERS, INC.
 
$
(2,672,412
)
 
$
(59,068
)
                 
OTHER COMPREHENSIVE INCOME (LOSS)
               
Unrealized loss on available-for-sale investments net of tax benefit
 
$
(62,000
)
 
$
-
 
Realized loss on  available-for-sale investments net of tax benefit
   
62,000
     
-
 
Foreign currency translation adjustments
   
694
     
-
 
NET COMPREHENSIVE INCOME
   
694
     
-
 
Other comprehensive income attributable to the noncontrolling interest
   
(278
)
   
-
 
NET COMPREHENSIVE INCOME ATTRIBUTABLE TO THE SHAREHOLDERS OF RESORT SAVERS, INC.
 
$
416
   
$
-
 
                 
NET LOSS AND COMPREHENSIVE INCOME
 
$
(4,279,919
)
 
$
(59,068
)
Net loss and other comprehensive income attributable to the noncontrolling interest
   
1,607,923
     
-
 
NET LOSS AND OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO  THE SHAREHOLDERS OF RESORT SAVERS, INC.
 
$
(2,671,996
)
 
$
(59,068
)
                 
Basic and Diluted Loss per Common Share
 
$
(0.06
)
 
$
(0.00
)
Basic and Diluted Weighted Average Common Shares Outstanding
   
67,848,549
     
38,418,753
 


The notes are an integral part of these financial statements.
 
RESORT SAVERS, INC.
Consolidated Statements of Stockholders' Equity
 
    Resort Savers, Inc. Shareholders              
                                       
Accumulated
             
               
Contingently
   
Contingently
   
Additional
         
Other
         
Total
 
   
Common Stock
   
Issuable
   
Liability on Issuable
   
Paid-in
   
Accumulated
   
Comprehensive
   
Noncontrolling
   
Stockholders'
 
   
Number of Shares
   
Amount
   
Common Stock
   
Common Stock
   
Capital
   
Deficit
   
Income
   
Interest
   
Equity
 
                                                       
Balance - January 31, 2014
   
36,772,000
   
$
3,677
   
$
-
   
$
-
   
$
53,884
   
$
(32,583
)
 
$
-
   
$
-
   
$
24,978
 
Issuance of shares
   
25,349,360
     
2,535
     
-
     
-
     
1,652,461
     
-
     
-
     
-
     
1,654,996
 
Debt forgiven by related parties
   
-
     
-
     
-
     
-
     
21,679
     
-
     
-
     
-
     
21,679
 
Net loss
   
-
     
-
     
-
     
-
     
-
     
(59,068
)
   
-
     
-
     
(59,068
)
Balance - January 31, 2015
   
62,121,360
     
6,212
     
-
     
-
     
1,728,024
     
(91,651
)
   
-
     
-
     
1,642,585
 
Issuance of shares for cash
   
5,020,955
     
502
     
-
     
-
     
349,498
     
-
     
-
     
-
     
350,000
 
Issuance of shares for investment of Amuli
   
3,033,926
     
304
     
-
     
-
     
2,399,696
     
-
     
-
     
1,600,000
     
4,000,000
 
Issuance of shares for investment of Tieshan Oil
   
4,800,000
     
480
     
-
     
-
     
2,747,520
     
-
     
-
     
3,300,294
     
6,048,294
 
Contingently issuable common shares for investment of Tieshan Oil
   
-
       -      
120
     
687,000
     
(120
)
   
-
     
-
     
-
     
687,000
 
Debt forgiven by related parties
   
-
     
-
     
-
     
-
     
95,669
     
-
     
-
     
-
     
95,669
 
Net loss
   
-
     
-
     
-
     
-
     
-
     
(2,672,412
)
   
-
     
(1,608,201
)
   
(4,280,613
)
Other comprehensive income
   
-
     
-
     
-
     
-
     
-
     
-
     
416
     
278
     
694
 
Balance - January 31, 2016
   
74,976,241
   
$
7,498
   
$
120
   
$
687,000
   
$
7,320,287
   
$
(2,764,063
)
 
$
416
   
$
3,292,371
   
$
8,543,629
 
 
* Common stock retroactively adjusted for 10:1 forward stock split, effective September 25, 2014.

“Amuli” stands for Shenzhen Amuli Industrial Development Company Limited
“Tieshan Oil” stands for Beijing Yandong Tieshan Oil Products Co., Ltd.
These two companies have no official English names. The English names used are translated only.

The notes are an integral part of these financial statements.
 
RESORT SAVERS, INC.
Consolidated Statements of Cash Flows

   
Years Ended
 
   
January 31,
 
   
2016
   
2015
 
             
CASH FLOWS FROM OPERATING ACTIVITIES
           
Net loss
 
$
(4,280,613
)
 
$
(59,068
)
Adjustments to reconcile net loss to net cash from operating activities:
               
   Cash received through business acquisition
   
215,579
     
-
 
   Depreciation
   
4,804
     
-
 
   Loss on equity investment
   
92,692
     
-
 
   Loss on goodwill impairment
   
4,005,224
     
-
 
Changes in operating assets and liabilities:
               
   Accounts payable
   
(60,799
)
   
6,411
 
   Accrued expenses
   
-
     
(5,000
)
Net cash provided by operating activities
   
(23,113
)
   
(57,657
)
                 
CASH FLOWS FROM INVESTING ACTIVITIES
               
   Investment in Worx
   
(1,300,000
)
   
(350,000
)
Net cash used in investing activities
   
(1,300,000
)
   
(350,000
)
                 
CASH FLOWS FROM FINANCING ACTIVITIES
               
Proceeds from issuance of common stock
   
-
     
1,654,995
 
Loans from related parties
   
241,894
     
21,679
 
Net cash provided by financing activities
   
241,894
     
1,676,674
 
                 
Effects on changes in foreign exchange rate
   
7,857
     
-
 
                 
Net increase (decrease) in cash and cash equivalents
   
(1,073,362
)
   
1,269,017
 
Cash and cash equivalents - beginning of the year
   
1,300,000
     
30,983
 
Cash and cash equivalents - end of the year
 
$
226,638
   
$
1,300,000
 
                 
Supplemental Cash Flow Disclosures
               
   Cash paid for interest
 
$
-
   
$
-
 
   Cash paid for income taxes
 
$
-
   
$
-
 
                 
Non-Cash Investing and Financing Activity:
               
   Investment in Worx - Borneo shares
 
$
350,000
   
$
-
 
   Common Stock issued for the acquisition of Shenzen Amuli Industrial Development Company Limited
 
$
2,400,000
   
$
-
 
   Common Stock issued for the acquisition of Beijing Yandong Tieshan Oil Products Co., Ltd.
 
$
3,435,000
   
$
-
 
   Related party debt forgiven
 
$
95,669
   
$
21,679
 
   Unrealized loss on available-for-sale securities
 
$
(62,000
)
 
$
-
 
   Realized loss on available-for-sale securities
 
$
62,000
   
$
-
 
 
 
The notes are an integral part of these financial statements.
RESORT SAVERS, INC.
Notes to the Consolidated Financial Statements
January 31, 2016 and 2015

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Resort Savers, Inc. (the “Company”) is a Nevada corporation incorporated on June 25, 2012. It is based in Shenzhen, the People’s Republic of China (the “PRC”). The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America, and the Company’s fiscal year end is January 31.

The Company makes investments and acquisitions into sound, transparent markets and industries throughout the world. The company has invested in a company principally engaged in the development and production of beverages, investment in agricultural business and import and export of products in the food and beverage industry, and a company principally engaged in the trading of oil, gas and lubricant. In Europe and worldwide, the Company is seeking to acquire and invest in global tourist and development assets that can be tailored to Chinese and American investment traveler.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States and presented in US dollars.

Principles of Consolidation

At January 31, 2016, the principal subsidiaries of the Company were listed as follows:

Entity Name
Acquisition Date
Ownership
Jurisdiction
Investments Held By
Nature of Operation
Fiscal Year
Xing Rui International Investment Holding Group Co., Ltd. ("Xing Rui")
December 22, 2014
100%
Seychelles
Resort Savers
Holding Company
January 31,
Xing Rui International Investment Group Ltd. ("Xin Rui HK")
December 22, 2014
100%
 Hong Kong, the PRC
Xing Rui
Holding Company
January 31,
Huaxin Changrong (Shenzhen) Technology Service Co., Ltd. ("Huaxin") *
August 27, 2015
100%
 the PRC
Xing Rui
Holding Company
 December 31,
Shenzhen Amuli Industrial Development Company Limited ("Amuli") *
October 1, 2015
60%
 the PRC
Huaxin
Beverage Producer
 December 31
Beijing Yandong Tieshan Oil Products Co., Ltd. ("Tieshan Oil") *
January 29, 2016
51%
 the PRC
Huaxin
Trading of oil products
December 31,

* There were no significant transactions of Huaxin, Amuli and Tieshan Oil between January 1, 2016 and January 31, 2016. These three companies have no official English names. The English names used are translated only.

These consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated.

Foreign Currency Translation and Re-measurement

The Company translates its foreign operations to U.S. dollar in accordance with ASC 830, “ Foreign Currency Matters ”.

The Company and its subsidiaries' functional currency and reporting currency is U.S. dollar, except Amuli and Tieshan Oil’s functional currency is Chinese Renminbi (“RMB”).
The Company's subsidiaries, whose records are not maintained in that company's functional currency, re-measure their records into their functional currency as follows:

· Monetary assets and liabilities at exchange rates in effect at the end of each period
· Nonmonetary assets and liabilities at historical rates
· Revenue and expense items at the average rate of exchange prevailing during the period

Gains and losses from these re-measurements were not significant and have been included in the Company's results of operations.

The Company's subsidiaries, whose functional currency is not the U.S. dollar , translate their records into U.S. dollar as follows:

· Assets and liabilities at the rate of exchange in effect at the balance sheet date
· Equities at historical rate
· Revenue and expense items at the average rate of exchange prevailing during the period

Adjustments arising from such translations are included in accumulated other comprehensive income in shareholders’ equity.

   
Years ended January 31,
   
2016
 
2015
Average RMB : US$ exchange rate in the year
 
0.1556
 
N/A
Spot RMB:US$ exchange rate as at the year end
 
0.1514
 
N/A
 
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. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.

Business Combinations

In accordance with ASC 805-10, “Business Combinations,” the Company accounts for all business combinations using the acquisition method of accounting. Under this method, assets and liabilities, including any remaining noncontrolling interests, are recognized at fair value at the date of acquisition. The excess of the purchase price over the fair value of assets acquired, net of liabilities assumed, and noncontrolling interests is recognized as goodwill. Certain adjustments to the assessed fair values of the assets, liabilities, or noncontrolling interests made subsequent to the acquisition date, but within the measurement period, which is up to one year, are recorded as adjustments to goodwill. Any adjustments subsequent to the measurement period are recorded in income. Any cost or equity method interest that the Company holds in the acquired company prior to the acquisition is re-measured to fair value at acquisition with a resulting gain or loss recognized in income for the difference between fair value and the existing book value. Results of operations of the acquired entity are included in the Company’s results from the date of the acquisition onward and include amortization expense arising from acquired tangible and intangible assets.

Cash and Cash Equivalents

Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value.  The Company had $226,638 and $1,300,000 in cash and cash equivalents as at January 31, 2016 and January 31, 2015, respectively.
Accounts receivable

The Company maintains reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Reserves are recorded primarily on a specific identification basis.

The standard credit period for most of the Company’s clients is three months. The collection period over 1 year is classified as long-term accounts receivable. Management evaluates the collectability of the receivables at least once a year. Provision for doubtful accounts as of January 31, 2016 and 2015 are $0.

Concentrations of Credit Risk

Cash includes cash at banks and demand deposits in accounts maintained with banks within the PRC. Total cash in these banks as of January 31, 2016 and 2015 amounted to $221,867and $0 respectively, none of which is covered by insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any risks to its cash in bank accounts.

The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents, and accounts receivable. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company also review its accounts receivable on a timely manner. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

Tieshan Oil

As of December 31, 2015, one customer accounted for more than 80% of revenues of Tieshan Oil and another two customers accounted for approximately 90% of accounts receivable. There was no significant changes of such concentrations of credit risk between January 1, 2016 and January 31, 2016.

Financial Instruments

The Company follows ASC 820, "Fair Value Measurements and Disclosures",  which 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 that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The three levels of the fair value hierarchy are described below:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2
 
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.
24

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Property, plant and equipment

Property, plant and equipment are recorded at cost. Depreciation is calculated using the straight line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the term of the related lease or the estimated useful life of the asset. The useful lives are as follows:

Machinery
5 ~ 10 years

Maintenance and repairs are charged to operations as incurred. Expenditures which substantially increase the useful lives of the related assets are capitalized. When properties are disposed of, the related costs and accumulated depreciation are removed from the accounts and any gain or loss is reported in the period the transaction takes place.

Investments in Companies Accounted for Using the Equity or Cost Method

In accordance with ASC 320-10, “Investments – Debit and Equity Securities,” investments in other non-consolidated entities are accounted for using the equity method or cost basis depending upon the level of ownership and/or the Company's ability to exercise significant influence over the operating and financial policies of the investee. When the equity method is used, investments are recorded at original cost and adjusted periodically to recognize the Company's proportionate share of the investees' net income or losses after the date of investment. When net losses from an investment accounted for under the equity method exceed its carrying amount, the investment balance is reduced to zero and additional losses are not provided for as the Company is not obligated to provide additional capital. The Company resumes accounting for the investment under the equity method if the entity subsequently reports net income and the Company's share of that net income exceeds the share of net losses not recognized during the period the equity method was suspended.

When an investment accounted for using the equity method issues its own shares, the subsequent reduction in the Company's proportionate interest in the investee is reflected in equity as an adjustment to paid-in-capital. The Company evaluates its investments in companies accounted for by the equity or cost method for impairment when there is evidence or indicators that a decrease in value may be other than temporary.

Goodwill

The Company tests goodwill for impairment on an annual basis, or more frequently if circumstances, such as material deterioration in performance or a significant number of store closures, indicate reporting unit carrying values may exceed their fair values. When evaluating goodwill for impairment, the Company may first perform a qualitative assessment to determine if the fair value of the reporting unit is more likely than not greater than its carrying amount. If the Company does not perform a qualitative assessment or if the fair value of the reporting unit is not more likely than not greater than its carrying amount, the Company calculates the implied estimated fair value of the reporting unit. If the carrying amount of goodwill exceeds the implied estimated fair value, an impairment charge to current operations is recorded to reduce the carrying value to the implied estimated fair value. During the year ended January 31, 2016, $4,005,224 goodwill on Amuli was considered fully impaired and written off by the Company.

Accounting for the impairment of long-lived assets

The long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. It is reasonably possible that these assets could become impaired as a result of technology or other industry changes. Determination of recoverability of assets to be held and used is by comparing the carrying amount of an asset to future net undiscounted cash flows to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. During the years ended January 31, 2016 and 2015, the Company did not impair any long-lived assets except goodwill on Amuli mentioned above.
Revenue Recognition

The Company will recognize revenue from the sale of products and services in accordance with ASC 605, “Revenue Recognition.”  Revenue will be recognized only when all of the following criteria are met: persuasive evidence for an agreement exists, delivery has occurred or services have been provided, the price or fee is fixed or determinable, and collection is reasonably assured.

Start-Up Costs

In accordance with ASC 720, "Start-up Costs", the Company expenses all costs incurred in connection with the start-up and organization of the Company.

Deferred Income Taxes and Valuation Allowance

The Company accounts for income taxes under ASC 740, “Income Taxes.” Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. No deferred tax assets or liabilities were recognized as at January 31, 2016 and January 31, 2015.

Net Loss Per Share of Common Stock

The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.

The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding.

Commitments and Contingencies

The Company follows ASC 450-20, “Loss Contingencies,” to report accounting for contingencies.  Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated.  There were no commitments or contingencies as of January 31, 2016 and January 31, 2015.

Reclassifications

Certain prior year amounts have been reclassified to conform with the current year presentation for comparative purposes.

Recent Accounting Pronouncements

In May 2014 and again in August 2015, the Financial Accounting Standards Board issued amended accounting guidance on revenue recognition that will be applied to all contracts with customers. The objective of the new guidance is to improve comparability of revenue recognition practices across entities and to provide more useful information to users of financial statements through improved disclosure requirements. This guidance is effective for annual and interim periods beginning in 2019. Early adoption is permitted, but only beginning in 2018. The Company is currently assessing the impact of adoption on its consolidated financial statements.
Management has considered all recent accounting pronouncements issued since the last audit of our financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements.

NOTE 3 - GOING CONCERN

The Company's financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business.  The Company has not yet had sufficient revenues to cover its operating cost, and requires additional capital to commence its operating plan. 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. If the Company is unable to obtain adequate capital, it could be forced to cease operations.  These factors raise substantial doubt about its ability 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's plan to obtain such resources for the Company include: sales of equity instruments; traditional financing, such as loans; and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.

There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company.  In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE 4 – BUSINESS COMBINATION

Amuli

On October 1, 2015, the Company’s wholly-owned subsidiary, Xing Rui, by and through its subsidiary Huaxin completed a purchase of 60% of the shares of Amuli for 3,033,926 shares of RSSV’s common stock. 

Allocation of the purchase price is as follows:

   
Acquisition-date
 
   
Fair Values
 
       
Noncontrolling interest
 
$
1,600,000
 
Consideration transferred
   
2,400,000
 
         
Assets
       
   Cash and cash equivalent
   
2,063
 
   Equipment
   
200,996
 
Liabilities
       
Accounts payable
   
208,283
 
Net liabilities assumed
   
(5,224
)
         
Goodwill
 
$
4,005,224
 

During the year ended January 31, 2016, the management believed that goodwill has impairment to zero because the products are still in the developmental stage. As a result, the management has decided to write off the entire goodwill of $4,005,224 during the year ended January 31, 2016. $1,600,000 goodwill impairment was contributed to non-controlling interest.
During October 1, 2015 to January 31, 2016, Amuli did not generate any revenue and incurred operating expenses of $20,502, of which $8,201 was contributed to noncontrolling interest.

Tieshan Oil

On January 29, 2016, the Company entered into an exchange agreement with Mr. Yang Baojin, a citizen of the PRC, and Huaxin, the wholly owned subsidiary of Xing Rui, which is a wholly owned subsidiary of the Company.  Mr. Baojin is the president and majority owner of Tieshan Oil. The exchange was closed on January 29, 2016.
 
Pursuant to Agreement, the Company agreed to issue 6,000,000 shares of its common stock, par value $0.0001, to Mr. Baojin, and Mr. Baojin delivered to Huaxin an ownership interest in Tieshan Oil such that Huaxin will own 51% of all ownership interests in Tieshan Oil, provided that 1,200,000 shares of the Company's common stock (20% of the common stock to be delivered to Mr. Baojin) will be withheld by the Company for a period of 12 months in order to secure against breach by Mr. Baojin of his representations and warranties contained in the agreement, as well as to secure the fulfillment of his covenants and further obligations under the agreement.

Allocation of the purchase price is as follows:

   
Acquisition-date
 
   
Fair Values
 
       
Noncontrolling interest
 
$
3,300,294
 
Consideration transferred
   
3,435,000
 
         
Assets
       
    Cash and cash equivalents
   
213,516
 
    Accounts receivable
   
25,047,810
 
    Other receivable
   
4,129
 
    Prepayments
   
1,678,461
 
    Equipment
   
30,295
 
Liabilities
       
   Short-term loan
   
3,080,000
 
   Accounts payable
   
5,629,306
 
   Deposits received
   
13,496,941
 
  Tax payable
   
11,163
 
   Other payable
   
1,294
 
Net assets acquired
   
4,755,507
 
         
Goodwill
 
$
1,979,787
 

During January 29, 2016 to January 31, 2016, Tieshan Oil did not generate any revenue and did not incur any expenses.

NOTE 5 – ACCOUNTS RECEIVABLES

The Company has performed an analysis on all of its accounts receivable and determined that all amounts are collectible by the Company. As such, all accounts receivable are reflected as a current asset and no allowance for bad debt has been recorded as of January 31, 2016 and 2015. Bad debts written off for the years ended January 31, 2016 and 2015 are $0. The Company’s accounts receivable consists only trade receivables.

Aging analysis of accounts receivable is as follows:

   
January 31,
2016
   
January 31,
2015
 
             
0 – 30 days
 
$
14,579,804
   
$
-
 
Over 1 year
   
10,468,006
     
-
 
   
$
25,047,810
   
$
-
 
 
28

NOTE 6 – PREPAYMENTS

The prepayments of $1,678,461 and $0 as at January 31, 2016 and 2015, respectively, were made to the major suppliers of the Company to secure the supply of the raw materials of oil category.

NOTE 7 – EQUIPMENT

   
January 31, 2016
   
January 31, 2015
 
Cost:
           
   Machinery
 
$
227,115
   
$
-
 
Less: accumulated depreciation
   
(7,791
)
   
-
 
Equipment
 
$
219,324
   
$
-
 

During the years ended January 31, 2016 and 2015, the Company recorded depreciation of $4,804 and $0, respectively.

NOTE 8 -    INVESTMENT

On December 30, 2014, a stock purchase agreement was concluded between Worx America, Inc. ("Worx"), and Xing  Rui, the Company's wholly owned subsidiary, giving RSSV common equity interest in Worx, a Houston, TX based Research and Development Company. As a consequence of this investment, RSSV and Worx intend to cooperate on a wide range of opportunities, although no material definitive agreements have been concluded at this date, except the stock purchase agreement, which conveys common stock ownership and its attendant rights under Nevada law (NRS Chapter 78).

On January 28, 2015, $350,000 cash was paid by the Company to Worx in exchange of 5,403,728 common shares of Worx. On March 20, 2015, $1,300,000 cash and 1,000,000 shares of common stock of Borneo Resource Investment Ltd. (“BRI”) with a value of $350,000 were paid by the Company to Worx in exchange of 14,665,022 common shares of Worx. As at March 20, 2015, the closing of the purchase, the Company owns 20,068,750 common shares of Worx, representing 20% of Worx's current issued and outstanding voting common stock on a fully converted and diluted basis.

This investment was accounted for under equity method initially with cost of $2,000,000. During March 20, 2015 to April 30, 2015, the Company recognized $30,692 loss from its investment in Worx based on its proportionate share of Worx’s net loss during March 20, 2015 to April 30, 2015. The Company also had a proportionate unrealized loss from Worx’s investment held for sale of $62,000, as indicated in the statement of other comprehensive income. On May 1, 2015, the Company lost significant influence on Worx. Therefore, equity method was suspended and the cost method was applied. Accordingly, the $62,000 unrealized loss was removed from accumulated other comprehensive income and realized as equity loss on unconsolidated affiliate investment.

During the year ended January 31, 2016 the Company did not receive any investment income from Worx. The Company reviewed Worx's financial condition at January 31, 2016 and concluded that there was no impairment loss related to its investment in Worx. As at January 31, 2016, the Company’s carrying value of its Worx investment was $1,907,308.

NOTE 9 – ACCOUTNS PAYABLE
 
At January 31, 2016, the Company had trade payables of $5,629,306, and $59,230 payable to third-party service providers. At January 31, 2015, the Company had trade payables of $0, and $7,416 payable to third-party service providers.
NOTE 10 – SHORT-TERM LOAN

There are no provisions in the Company’s bank borrowings that would accelerate repayment of debt as a result of a change in credit ratings or a material adverse change in the Company’s business.

The Industrial and Commercial Bank of China is the lender of the loan. The interest rate is the interbank offered rate announced by the PRC authority on the business day just before the release of the loan, plus 51 basis point, which is 5.06% per annum. The term of borrowing is 1 year, which was renewed as at December 31, 2015. The amount is denominated in Renminbi of RMB20,000,000. The loan is secured by the personal guarantee of one of the shareholders, Yeung Po Kam, and of his wife in an unlimited amount.

25% of the principal of the loan is to be repaid in the eleventh month of the term. The remaining is to be repaid on the maturity of the loan. The loan agreement contains provisions requiring payment of default interest in the event of default, and without specific financial covenants. Management of the Company believes the Company is in material compliance with the terms of the loan agreement.

NOTE 11 -  DEPOSITS RECEIVED

At January 31, 2016 and 2015, the deposits received from customers which are unrelated to the Company was $13,496,941 and $0 respectively.

NOTE 12 -  STOCKHOLDERS’ EQUITY

The capitalization of the Company consists of the following classes of capital stock as of January 31, 2016:

Preferred Stock

The Company has authorized 15,000,000 shares of preferred stock with a par value of $0.0001 per share. The Board of Directors are authorized to divide the authorized shares of Preferred Stock into one or more series, each of which shall be so designated as to distinguish the shares thereof from the shares of all other series and classes.  No shares of preferred stock have been issued.

Common Stock

On July 14, 2015, the authorized number of shares of the Company’s common stock was increased from 100,000,000 shares to 1,000,000,000 shares.

The Company now has authorized 1,000,000,000 shares of common stock with a par value of $0.0001 per shares.  Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought.

On September 25, 2014 the Company effected a forward stock split of 10 shares of common stock for each share held, or an additional nine shares were issued for each common share held. All share and per share information has been retroactively restated for financial presentation of prior periods.

On January 31, 2015, the Company issued 23,684,360 shares of common stock to unaffiliated investors at $0.07 per share for $1,650,000.

During the year ended January 31, 2016, the Company issued the following shares:

· 20,955 common shares to an unaffiliated investor for cash subscription paid before January 31, 2015
· 5,000,000 common shares to an unaffiliated investor in exchange of 1,000,000 common shares of BRI
· 3,033,926 common shares to a shareholder in Amuli, for their 60% interest in the Company.
· 4,800,000 common shares to a shareholder in Tieshan Oil, for their 51% interest in the Company.

As at January 31, 2016 and January 31, 2015, the Company had 74,976,241 and 62,121,360 common shares issued and outstanding, respectively.

The Company has no stock option plan, warrants or other dilutive securities.
30

Contingently Issuable Common Stock

On January 29, 2016, the Company entered into an exchange agreement with Mr. Yang Baojin (the “Agreement”), a citizen of the PRC, and Huaxin, the wholly owned subsidiary of Xing Rui, which is a wholly owned subsidiary of the Company.  Mr. Baojin is the president and majority owner of Tieshan Oil. The exchange was closed on January 29, 2016.
 
Pursuant to the Agreement, the Company agreed to issue 6,000,000 shares of its common stock, par value $0.0001, to Mr. Baojin, and Mr. Baojin delivered to Huaxin an ownership interest in Tieshan Oil such that Huaxin owns 51% of all ownership interests in Tieshan Oil, provided that 1,200,000 shares of the Company's common stock (20% of the common stock to be delivered to Mr. Baojin) will be withheld by the Company for a period of 12 months in order to secure against breach by Mr. Baojin of his representations and warranties contained in the agreement, as well as to secure the fulfillment of his covenants and further obligations under the agreement. Accordingly, the Company excludes these 1,200,000 shares from the calculation of common stock issued and outstanding.

Additional Paid-In Capital

During the year ended January 31, 2015, related parties contributed additional paid-in capital in the amount of $21,679, to fund operating expenses.

During the year ended January 31, 2016, related parties contributed additional paid-in capital in the amount of $95,669, to fund operating expenses.

NOTE 13 – RELATED PARTY TRANSACTIONS

In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.

During the years ended January 31, 2015 and 2016, related parties, who are shareholders of the Company, forgave debt, in the amount of $21,679 and $95,669, respectively for payments made on behalf of the Company for operating expenses. The amount has been recognized as a contribution to capital.

At January 31, 2016, the Company owed $12,773 to a director of Xin Rui HK, $12,695 to a director of the Company, $198,258 to a director of Amuli, and $18,168 to a relative of a director of Xin Rui HK for vendor payments made by those directors.

The Company does not have employment contracts with its key employees, including the controlling shareholders who are officers of the Company.

The amounts and terms of the above transactions may not necessarily be indicative of the amounts and terms that would have been incurred had comparable transactions been entered into with independent third parties.

NOTE 14 – COMMITMENTS AND CONTINGENCIES

The Company has no commitments or contingencies as of January 31, 2016 and 2015 .

From time to time the Company may become a party to litigation matters involving claims against the Company.  Management believes that it is adequately insured for its operations and there are no current matters that would have a material effect on the Company’s financial position or results of operations.

NOTE 15 – INCOME TAXES

The Company provides for income taxes under ASC 740, "Income Taxes.  ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. It also requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
The Company is subject to taxation in the United States and China.

The statutory federal income tax rate of the United States is 34%. The statutory federal income tax rate of China is 25%.

As of January 31, 2016, the Company has loss carry forwards for US Federal income taxes of approximately $93,000 and for Chinese income taxes of approximately $25,000 from Amuli. US Federal net operating loss carryforwards may be carried forward up to a maximum of 20 years and will begin expiring in 2032. The utilization of these NOLs may become subject to limitations based on past and future changes in ownership of the Company pursuant to Internal Revenue Code Section 382. Chinese net operating loss carryforwards may be carried forward up to a maximum of 5 years and will begin expiring in 2021. At January 31, 2016, Tieshan Oil had $11,163 income tax payable for prior years’ income.

The deferred tax assets created from current and prior year net operating loss carry forwards have been calculated at 34% rate in the United States and the 25% rate in China. Deferred tax assets were comprised of the following as of January 31, 2016 and 2015:

   
January 31, 2016
   
January 31, 2015
 
NOL carryforward
           
   Total deferred tax asset
 
$
90,963
   
$
31,161
 
   Total deferred tax liabilities
   
-
     
-
 
Less valuation allowance
   
(90,963
)
   
(31,161
)
Net deferred tax asset
 
$
-
   
$
-
 

The benefit for income taxes differed from the amount computed using the statutory United State tax rate of 34% for January 31, 2016 and 2015 as follows:

   
Years Ended
 
   
January 31,
 
   
2016
   
2015
 
Income tax benefit at statutory rate
 
$
(1,455,408
)
 
$
(20,083
)
Difference in rates in China
   
2,315
     
-
 
Non-deductible expenses
   
1,393,291
     
-
 
Change in valuation allowance
   
59,802
     
20,083
 
Income tax benefit
 
$
-
   
$
-
 

The Company records a valuation allowance against deferred tax assets to the extent that it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Due to the substantial doubt related to the Company's ability to continue as a going concern and utilize its deferred tax assets, a valuation allowance for the full amount of the deferred tax assets has been established at January 31, 2016. As a result of this valuation allowance there are no income tax benefits reflected in the accompanying statement of operations to offset pre-tax losses.

The Company has no uncertain tax positions as of January 31, 2016 due to limited nature of its operations. Income taxes for the years ended January 31, 2013 through 2015 remain subject to examination.

NOTE 16 - SEGMENTED INFORMATION

At January 31, 2016, the Company operates in two industry segments, health beverage and oil and gas, and one geographic segment, China, where majority current assets and equipment are located.
 
   
January 31, 2016
   
January 31, 2015
 
   
Health beverage
   
Oil and gas
   
Health beverage
   
Oil and gas
 
Assets
  $       $      
$
 
   
$
 
 
   Current assets
   
1,442
     
26,943,916
     
-
     
-
 
   Non-current assets
   
189,029
     
30,295
       -        -  
Liabilities
                               
   Current liabilities
   
215,503
     
22,218,704
     
-
     
-
 
   Long term liabilities
   
-
     
-
     
-
     
-
 
Net assets (liabilities)
 
$
(25,032
)
 
$
4,755,507
   
$
-
   
$
-
 

 
   
Years Ended
 
   
January 31, 2016
   
January 31, 2015
 
   
Health beverage
   
Oil and gas
   
Health beverage
   
Oil and gas
 
Revenue
 
$
-
   
$
-
   
$
-
   
$
-
 
Operating expenses
   
20,502
     
-
     
-
     
-
 
Net loss
 
$
( 20,502
)
 
$
-
   
$
-
   
$
-
 

NOTE 17 - SUBSEQUENT EVENTS

Management has evaluated subsequent events through the date these financial statements were available to be issued.  Based on our evaluation no material events have occurred that require disclosure.
 
 
 
33

Item 9.  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
 
On January 12, 2015, the Company accepted the resignation of Messineo & Co, CPAs LLC ("M&Co"). M&Co's report on the financial statements for the year ended April 30, 2014, contained no adverse opinion or disclaimer of opinion and was not qualified or modified as to audit scope or accounting, except that the report contained an explanatory paragraph stating that there was substantial doubt about the Company's ability to continue as a going concern.

Our Board of Directors participated in and approved the decision to change independent accountants.  Through the period covered by the financial review of financial statements of the quarterly period October 31, 2014, there have been no disagreements with M&Co on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of M&Co, would have caused them to make reference thereto in their report on the financial statements.  Through the interim period January 12, 2015 (the date of resignation of the former accountant), there have been no disagreements with M&Co on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of M&Co would have caused them to make reference thereto in their report on the financial statements.

On January 12, 2015, the Company engaged Li and Company, PC ("LICO") of New Jersey, as its new registered independent public accountant. During the years ended April 30, 2014, and prior to January 12, 2015 (the date of the new engagement), the Company did not consult with LICO regarding (i) the application of accounting principles to a specified transaction, (ii) the type of audit opinion that might be rendered on the Company's financial statements by LICO, in either case where written or oral advice provided by LICO would be an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issues or (iii) any other matter that was the subject of a disagreement between us and our former auditor or was a reportable event (as described in Item 304(a)(1)(iv) or item 304(a)(1)(v) of Regulation S-K, respectively).
On March 18, 2015, the Company accepted the resignation of LICO.  LICO did not perform an audit, and did not provide a report on the financial statements for the Company.  Our Board of Directors participated in and approved the decision to change independent accountants. Through the period from appointment on January 12, 2015, through resignation, there have been no disagreements with LICO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of LICO, would have caused them to make reference thereto in their report on the financial statements.

On March 18, 2015, the Company engaged RBSM, LLP ("RBSM") as its new registered independent public accountants. During the year ended January 31, 2015, and prior to March 18, 2015 (the date of the new engagement), the Company did not consult with RBSM regarding (i) the application of accounting principles to a specified transaction, (ii) the type of audit opinion that might be rendered on the Company's financial statements by RBSM, in either case where written or oral advice provided by RBSM would be an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issues or (iii) any other matter that was the subject of a disagreement between us and our former auditor or was a reportable event (as described in Items 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K, respectively).

On June 18, 2015, the Company was notified of the resignation of its independent public accounting firm, RBSM effective that date. The Company's Board of Directors accepted the resignation of RBSM upon receipt of the notification and has commenced a search for a new independent accounting firm.

RBSM's report dated April 30, 2015, on the financial statements of the Company as of and for the fiscal year ended January 31, 2015, contained a modification that such financial statements had been prepared assuming that the Company would continue as a going concern. Except as set forth in the previous sentence, RBSM's report on the financial statements of the Company as of and for the year ended January 31, 2015, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to audit scope, procedure or accounting principles.

During the Company's fiscal year ended January 31, 2015, and the subsequent period through June 18, 2015, there were no disagreements between the Company and RBSM on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to RBSM's satisfaction, would have caused them to make reference to the subject matter of the disagreement in connection with their report on the Company's financial statements for such year or period; and there were no reportable events as described in Item 304(a)(1)(v) of Regulation S-K.

On July 3, 2015, the Company engaged Anthony Kam & Associates, Ltd ("AKAM") of Hong Kong, as its new registered independent public accountant. During the year ended January 31, 2015, and prior to July 3, 2015 (the date of the new engagement), the Company did not consult with AKAM regarding (i) the application of accounting principles to a specified transaction, (ii) the type of audit opinion that might be rendered on the Company's financial statements by AKAM, in either case where written or oral advice provided by AKAM would be an important factor considered by us in reaching a decision as to any accounting, auditing or financial reporting issues or (iii) any other matter that was the subject of a disagreement between us and our former auditor or was a reportable event (as described in Items 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K, respectively).
Item 9A.  Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our senior management, including our Chief Executive Officer and Chief Financial Officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this Annual Report on Form 10-K (the "Evaluation Date").  Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded as of the Evaluation Date that our disclosure controls and procedures were not effective such that the information relating to us required to be disclosed in our Securities and Exchange Commission ("SEC") reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

Management's Annual Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting.  Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States.  Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.  With the participation of our Chief Executive and Financial Officer, our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of January 31, 2016 based on the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control – Integrated Framework.  Based upon such evaluation, our management concluded that we did not maintain effective internal control over financial reporting as of January 31, 2016 based on the COSO framework criteria, as more fully described below.  This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

The matters involving internal controls and procedures that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee, (2) lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (3) inadequate segregation of duties consistent with control objectives; and (4) management dominated by a single individual without adequate compensating controls. The aforementioned material weaknesses were identified by our Chief Executive and Financial Officer in connection with the review of our financial statements as of January 31, 2016.

Management believes that the material weaknesses set forth above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.
This Annual Report on Form 10-K does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by our registered public accounting firm pursuant to an exemption for non-accelerated filers from the internal control audit requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002.

Changes in Internal Control Over Financial Reporting

There have been no changes in our internal control over financial reporting that occurred during the year ended January 31, 2016 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

Item 9B.  Other Information.

None.
 
35

PART III

Item 10.  Directors, Executive Officers and Corporate Governance

All directors of the Company hold office until the next annual meeting of the security holders or until their successors have been elected and qualified. The officers of the Company are appointed by the board of directors and hold office until their death, resignation or removal from office. The directors and executive officers, their ages, positions held, and duration as such, are as follows:

Name
Position Held with the Company
Age
Date First Elected or Appointed
Zhou Gui Bin
President, CEO, Director
68
August 11, 2014
Zhou Wei
CFO, Secretary, Treasurer, Director
38
August 11, 2014

Business Experience

The following is a brief account of the education and business experience during at least the past five years of each current director, executive officer and key employee of the Company, indicating the person's principal occupation during that period, and the name and principal business of the organization in which such occupation and employment were carried out.

Zhou Gui Bin graduated from Chang Chun Politics and Law University with a degree in law.  From May, 1970 through May, 2001, he worked in the supply and purchase section of Siping Prison, Jilin Province.  Starting in 2001 until the present, he has served as the General Agent of Daohuaxiang Liquor Industry Group in Weihai Area.

Zhou Wei graduated from Siping Industry and Communications School with a degree in accounting and corporate management.  From September, 1996 through April, 2000, she work as a cashier in Siping Branch Store of Shenyang Mulan Appliance Company.  From October, 2004 through July 2010, she served as a financial accountant at Weihai Branch of Daohuaxiang Liquor Industry Group.  From October 2010 through June, 2014, she served as hall business manager in Telecom Company of Balishen County in Hami City, Xinjiang Uygur Autonomous Region.

Employment Agreements

Other than as set out below, we have no formal employment agreements with any of our employees, directors or officers.

Family Relationships

Zhou Gui Bin, our President, CEO and Director, is the father of Zhou Wei, our CFO, Secretary, Treasurer and Director.

Involvement in Certain Legal Proceedings

None of our directors, executive officers, promoters or control persons has been involved in any of the following events during the past 10 years:

1. A petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;

2. Such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);

3. Such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:
 
 
i.
Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity
     
 
ii.
Engaging in any type of business practice; or
     
 
iii.
Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;
     
4. Such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph (f)(3)(i) of this section, or to be associated with persons engaged in any such activity;
5. Such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;

6. Such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;

7. Such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:
 
 
i.
Any Federal or State securities or commodities law or regulation; or
     
 
ii.
Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or
     
 
iii.
Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

8. Such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Compliance with Section 16(a) of the Exchange Act .

Section 16(a) of the Exchange Act requires the Company's directors, executive officers and persons who own more than ten percent of a registered class of the Company's equity securities ("10% holders"), to file with the SEC initial reports of ownership and reports of changes in ownership of Common Stock and other equity securities of the Company. Directors, officers and 10% holders are required by SEC regulation to furnish the Company with copies of all of the Section 16(a) reports they file.

Based solely on a review of reports furnished to the Company or written representations from the Company's directors and executive officers, there are no known incidents of non-compliance for the reporting year, except as follows: each of Zhou Gui Bin, Zhou Wei and Zong Xin International Investment Holdings Co. Ltd failed to timely file a Form 3.

Code of Ethics

We have adopted a corporate code of ethics. We believe our code of ethics is reasonably designed to deter wrongdoing and promote honest and ethical conduct; provide full, fair, accurate, timely and understandable disclosure in public reports; comply with applicable laws; ensure prompt internal reporting of code violations; and provide accountability for adherence to the code. The Company will provide to any person, without charge and upon request, a copy of the code of ethics. Any such request must be made in writing to the Company at No. 10-2-4B, Jin Di Shang Tang Garden, Long Hua Xin Qu Shang Tang Road, Shenzhen, Guang Dong, China

Board and Committee Meetings

Our board of directors currently consists of two members, Zhou Gui Bin and Zhou Wei. The Board held no formal meetings during the year ended January 31, 2016. Until the Company develops a more comprehensive Board of Directors, all proceedings will be conducted by resolutions consented to in writing by all the directors and filed with the minutes of the proceedings of the directors. Such resolutions consented to in writing by the directors entitled to vote on that resolution at a meeting of the directors are, according to the Nevada General Corporate Law and our Bylaws, as valid and effective as if they had been passed at a meeting of the directors duly called and held.
Nomination Process

As of January 31, 2016, we did not effect any material changes to the procedures by which our shareholders may recommend nominees to our board of directors. Our board of directors does not have a policy with regards to the consideration of any director candidates recommended by our shareholders.  Our board of directors has determined that it is in the best position to evaluate our company's requirements as well as the qualifications of each candidate when the board considers a nominee for a position on our board of directors.  If shareholders wish to recommend candidates directly to our board, they may do so by sending communications to the president of our company at the address on the cover of this annual report.

Audit Committee

Currently the Company is developing a comprehensive Board of Directors and does not have an Audit Committee.  The Company intends to appoint audit, compensation and other applicable committee members as it appoints individuals with pertinent expertise.

Audit Committee Financial Expert

Our board of directors does not have a member that qualifies as an "audit committee financial expert" as defined in Item 407(d)(5)(ii) of Regulation S-K.

Item 11.  Executive Compensation.

The particulars of the compensation paid to the following persons:

 
(a)
our principal executive officer;
     
 
(b)
each of our two most highly compensated executive officers who were serving as executive officers at the end of the year ended January 31, 2016, and
     
 
(c)
up to two additional individuals for whom disclosure would have been provided under (b) but for the fact that the individual was not serving as our executive officer at the end of the year ended January 31, 2016.

who we will collectively refer to as the named executive officers of the Company, are set out in the following summary compensation table, except that no disclosure is provided for any named executive officer, other than the principal executive officers, whose total compensation did not exceed $100,000 for the respective fiscal year.

     2016 SUMMARY COMPENSATION TABLE
Name and Principal Position
Year
Salary
($)
Bonus
($)
Stock Awards
($)
Option Awards
($)
Non-Equity
Incentive Plan
Compensation
($)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)
All Other
Compensation
($)
Total
($)
Zhou Gui Bin,
President, CEO, Director
2016
2015
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Zhou Wei
CFO, Secretary, Treasurer, Director
2016
2015
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

Other than set out below there are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers.  Our directors and executive officers may receive share options at the discretion of our board of directors in the future.  We do not have any material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that share options may be granted at the discretion of our board of directors.

Grants of Plan-Based Awards

There were no grants of plan based awards during the year ended January 31, 2016.

Outstanding Equity Awards at Fiscal Year End

There were no outstanding equity awards at the year ended January 31, 2016.
Option Exercises and Stock Vested

During our fiscal year ended January 31, 2016, there were no options exercised by our named officer.

Compensation of Directors

We do not have any agreements for compensating our directors for their services in their capacity as directors.

Pension, Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers. We have no material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive officers, except that stock options may be granted at the discretion of the board of directors or a committee thereof.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

The following table sets forth, as of May 10, 2016, certain information with respect to the beneficial ownership of our common shares by each shareholder known by us to be the beneficial owner of more than 5% of our common shares, as well as by each of our current directors and executive officers as a group. Each person has sole voting and investment power with respect to the shares of common stock, except as otherwise indicated. Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.

Under Rule 13d-3, a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares: (i) voting power, which includes the power to vote, or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights. As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the person's actual ownership or voting power with respect to the number of shares of common stock actually outstanding on May 10, 2016. As of May 10, 2016, there were 74,976,241 shares of our company's common stock issued and outstanding.
 
Name and Address of Beneficial Owner
Amount and Nature of Beneficial Ownership
Percentage of Class (1)
Zhou Gui Bin
No. 10-2-4B, Jin Di Shang Tang Garden, Long Hua Xin Qu Shang Tang Road, Shenzhen, Guang Dong, China 518000
2,367,330
3.16%
Zhou Wei
No. 10-2-4B, Jin Di Shang Tang Garden, Long Hua Xin Qu Shang Tang Road, Shenzhen, Guang Dong, China 518000
2,367,330
3.16%
Directors and Executive Officers as a Group (2 persons)
4,734,660
6.32%
 
 
 
5% or greater shareholders
 
 
Zong Xin International Investment Holdings Co., LTD
Unit 804, Block C, Te Fa He Pin Lane, Big Wave Street, Ming Tong Road, Longwah New District, Shenzhen, China
16,367,340
21.83%
Yan g Baojin
Beijng Fanshan Yandong Chemical Factory, Zhiu Zhuang Tsuen, Fanshan Disctrict, Beijing, China
4,800,000
6.40%

(1) Percentages are calculated based on 74,976,241 shares of our company’s common stock issued and outstanding on May 10, 2016.

Changes in Control

We are unaware of any contract or other arrangement the operation of which may at a subsequent date result in a change in control of our company.
Item 13.  Certain Relationships and Related Transactions, and Director Independence.

On August 1, 2014, Michelle LaCour, our former President, Chief Executive Officer, Chief Financial Officer, Treasurer and director and a former 5% stockholder, and James LaCour, our former Secretary and director and a former 5% stockholder, sold their shares of the Company to the following:
 
 
Shareholder
 
Number of
Shares
   
Price per
Share
   
Percentage
Owned
 
Zhou Gui Bin
   
2,367,330
   
$
0.02
     
3.2
%
Zhou Wei
   
2,367,330
   
$
0.02
     
3.2
%
Zong Xin International Investment Holdings Co. LTD.
   
16,367,340
   
$
0.02
     
24.38
%

In support of the Company's efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by shareholders or directors. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances were considered temporary in nature and were not formalized by a promissory note.

During the year ended January 31, 2016, related parties, who are shareholders of the Company, forgave debt, in the amount of $95,669 for payments made on behalf of the Company for operating expenses. The amount has been recognized as a contribution to capital.

At January 31, 2016, the Company owed $12,773 to a director of Xin Rui HK, $12,695 to a director of the Company, $198,258 to a director of Amuli, and $18,168 to a relative of a director of Xin Rui HK for vendor payments made by those directors.

The Company does not have employment contracts with its key employees, including the controlling shareholders who are officers of the Company.

The amounts and terms of the above transactions may not necessarily be indicative of the amounts and terms that would have been incurred had comparable transactions been entered into with independent third parties.

Shareholder loan

From June 25, 2012 (date of inception) until the audit date of January 31, 2016, there were no shareholder loans.

Director Independence

The Company does not have a separately designated nominating committee for its Board. None of our directors is deemed to be independent, as such term is defined in the listing standards of The Nasdaq Stock Market, Inc. (“Nasdaq”).

Item 14.  Principal Accounting Fees and Services.

The aggregate fees billed for the most recently completed fiscal year ended January 31, 2016 and 2015 for professional services rendered by the principal accountant for the audit of our annual financial statements and review of the financial statements included in our quarterly reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

   
Year Ended
January 31, 2016
   
Year Ended
January 31, 2015
 
Audit Fees (1)
 
$
64,000
   
$
4,600
 
Audit Related Fees (2)
 
$
-
   
$
--
 
Tax Fees (3)
 
$
-
   
$
--
 
All Other Fees (4)
 
$
-
   
$
--
 
Total
 
$
64,000
   
$
4,600
 

(1)      Audit fees consist of fees incurred for professional services rendered for the audit of our financial statements, for reviews of our interim financial statements included in our quarterly reports on Form 10-Q and for services that are normally provided in connection with statutory or regulatory filings or engagements.
(2)      Audit-related fees consist of fees billed for professional services that are reasonably related to the performance of the audit or review of our financial statements, but are not reported under "Audit fees."
(3)      Tax fees consist of fees billed for professional services relating to tax compliance, tax planning, and tax advice.
(4)      All other fees consist of fees billed for all other services.
 
Our board of directors pre-approves all services provided by our independent auditors. All of the above services and fees were reviewed and approved by the board of directors either before or after the respective services were rendered.

Our board of directors has considered the nature and amount of fees billed by our independent auditors and believes that the provision of services for activities unrelated to the audit is compatible with maintaining our independent auditors' independence.
PART IV

Item 15.  Exhibits, Financial Statement Schedules

The following exhibits are included as part of this report:
 
       
Incorporated by Reference
Exhibit Number
 
 
Exhibit Description
 
 
Form
 
 
Exhibit
 
Filing Date
3.1
 
Articles of Incorporation and Amendments, as filed with the Nevada Secretary of State.
 
S-1
 
3.1
 
4/08/2013
                 
3.2*
             
                 
3.3
 
By-Laws of Registrant.
 
S-1
 
3.2
 
4/08/2013
                 
10.1
 
Acquisition Agreement, dated August 27, 2015, by and between Xu Xiao Yun and Huaxin Changrong (Shenzhen) Technology Service Company Limited, relating to Shenzhen Amuli Industrial Development Co. Ltd.
 
8-K
 
10.1
 
9/25/2015
                 
10.2
 
 
Exchange Agreement, dated as of January 29, 2016, Resort Savers, Inc., Yang Baojin, and Huaxin Changrong (Shenzhen) Technology Service Company Limited, relating to Beijing Yandong Tieshan Oil Products Co., Ltd.
 
8-K
 
10.1
 
2/01/2016
                 
14.1
 
Code of Ethics.
 
10-K
 
14.1
 
05/01/2014
                 
21.1*
             
                 
31.1*
             
                 
31.2*
             
                 
32.1*
             
                 
101.INS*
 
XBRL Instance Document.
           
                 
101.SCH*
 
XBRL Taxonomy Extension Schema Document.
           
                 
101.CAL*
 
XBRL Taxonomy Extension Calculation Linkbase Document.
           
                 
101.DEF*
 
XBRL Taxonomy Extension Definition Linkbase Document.
           
                 
101.LAB*
 
XBRL Taxonomy Extension Label Linkbase Document.
           
                 
101.PRE*
 
XBRL Taxonomy Extension Presentation Linkbase Document.
           
                 
*   Filed herewith.
           
 
 
 
SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
 
 
RESORT SAVERS, INC.
 
(Registrant)
   
   
Dated: May 13, 2016
/s/ Zhou Gui Bin
 
Zhou Gui Bin
 
President, CEO
 
(Principal Executive Officer)
   
   
Dated: May 13, 2016
/s/ Zhou Wei
 
Zhou Wei
 
Chief Financial Officer
 
(Principal Financial and Accounting Officer)
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Dated: May 13, 2016
/s/ Zhou Gui Bin
 
Zhou Gui Bin
 
President, Chief Executive Officer and Director
   
Dated: May 13, 2016
/s/ Zhou Wei
 
Zhou Wei
 
Chief Financial Officer, Secretary, Treasurer and Director
 
 
 
 
 
 
 
 
 
42
Exhibit 3.2
 
Exhibit 21.1

SUBSIDIARIES
 
Name of Company
 
Jurisdiction of Organization
 
 
 
Xing Rui International Investment Holding Group Co., Ltd. (1)
Xing Rui International Investment Holding Group Ltd. (2)
 
Seychelles
Hong Kong, the People’s Republic of China (the “PRC”)
Huaxin Changrong (Shenzhen) Technology Service Company Limited (3) *
 
the PRC
Beijing Yandong Tieshan Oil Products Co., Ltd. (4) *
 
the PRC
Shenzhen Amuli Industrial Development Co. Ltd. (5) *
 
the PRC

(1) Xing Rui International Investment Holding Group Co., Ltd. is a wholly owned subsidiary of Resorts Savers, Inc.
(2) Xing Rui International Investment Holding Group Ltd. (Hong Kong) is a wholly owned subsidiary of Xing Rui International Investment Holding Group Co., Ltd. (Seychelles)
(3) Huaxin Changrong (Shenzhen) Technology Service Company Limited is a wholly owned subsidiary of Xing Rui International Investment Holding Group Co., Ltd.
(4) Fifty-one percent (51%) of issued and outstanding capital stock of Beijing Yandong Tieshan Oil Products Co., Ltd. is owned by Huaxin Changrong (Shenzhen) Technology Service Company Limited
(5) Sixty percent (60%) of issued and outstanding capital stock of Shenzhen Amuli Industrial Development Co. Ltd. is owned by Huaxin Changrong (Shenzhen) Technology Service Company Limited
* These three companies have no official English names. The English names used are translated only.
Exhibit 31.1
CERTIFICATIONS
I, Zhou Gui Bin, Chief Executive Officer of Resort Savers, Inc., certify that:

1.
I have reviewed this annual report on Form 10-K of Resort Savers, Inc.;

2.
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;

3.
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;

4.
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:

 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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;

 
(c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our 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

 
(d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.
I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 
(a)
All significant deficiencies and material weaknesses 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

 
(b)
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.
Date: May 13 , 2016
 
By:
/s/ Zhou Gui Bin
 
   
Zhou Gui Bin
 
   
Chief Executive Officer
(Principal Executive Officer)
 
       

Exhibit 31.2
CERTIFICATIONS
I, Zhou Wei, Chief Financial Officer of Resort Savers, Inc., certify that:

1.
I have reviewed this annual report on Form 10-K of Resort Savers, Inc.;

2.
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;

3.
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;

4.
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:

 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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;

 
(c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our 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

 
(d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.
I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 
(a)
All significant deficiencies and material weaknesses 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

 
(b)
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.
Date: May 13 , 2016
 
By:
/s/ Zhou Wei
 
   
Zhou Wei
 
   
Chief Financial Officer
(Principal Financial Officer)
 
       
Exhibit 32.1
CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER
PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
I, Zhou Gui Bin, , Chief Executive Officer of Resort Savers, Inc., certify, as of the dates hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Annual Report of Resort Savers, Inc. on Form 10-K for the fiscal year ended January 31, 2016 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Form 10-K fairly presents in all material respects the financial condition and results of operations of Resort Savers, Inc. at the dates and for the periods indicated.
Date: May 13 , 2016
 
By:
/s/ Zhou Gui Bin
 
   
Zhou Gui Bin
 
   
Chief Executive Officer
(Principal Executive Officer)
 
       

I, Zhou Wei, , Chief Financial Officer of Resort Savers, Inc., certify, as of the dates hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Annual Report of Resort Savers, Inc. on Form 10-K for the fiscal year ended January 31, 2016 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Form 10-K fairly presents in all material respects the financial condition and results of operations of Resort Savers, Inc. at the dates and for the periods indicated.
Date: May 13 , 2016
 
By:
/s/ Zhou Wei
 
   
Zhou Wei
 
   
Chief Financial Officer
(Principal Financial Officer)
 
       

A signed original of this written statement required by Section 906 has been provided to Resort Savers, Inc. and will be retained by Resort Savers, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.