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Chun Can Capital Group – ‘10-Q’ for 3/31/20 – ‘EX-101.INS’

On:  Friday, 5/22/20, at 12:53pm ET   ·   For:  3/31/20   ·   Confirming Copy?  Yes ©   ·   Accession #:  1191334-20-13   ·   File #:  333-100046

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  As Of               Filer                 Filing    For·On·As Docs:Size

 5/22/20  Chun Can Capital Group            10-Q©       3/31/20   28:876K

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Form 10-Q 3/31/2020                                 HTML    153K 
 2: EX-31.1     CEO 302 Certification                               HTML     16K 
 3: EX-31.2     CFO 302 Certification                               HTML     15K 
 4: EX-32.1     CEO 906 Certification                               HTML     12K 
 5: EX-32.2     CFO 906 Certification                               HTML     12K 
27: R1          Cover                                               HTML     40K 
18: R2          Condensed Consolidated Balance Sheets               HTML     53K 
15: R3          Condensed Consolidated Balance Sheets               HTML     31K 
                (Parenthetical)                                                  
21: R4          Condensed Consolidated Statements of Operations     HTML     47K 
26: R5          Condensed Consolidated Statements of Cash Flows     HTML     57K 
17: R6          Condensed Consolidated Statement of Stockholders    HTML     26K 
                Equity                                                           
14: R7          Basis of Presentation                               HTML     19K 
20: R8          Income Taxes                                        HTML     27K 
28: R9          Capital Stock                                       HTML     14K 
25: R10         Income Taxes (Tables)                               HTML     28K 
19: R11         Income Taxes - Provision for Income Taxes           HTML     21K 
                (Details)                                                        
13: R12         Income Taxes - Deferred Tax Assets (Liabilties)     HTML     20K 
                (Details)                                                        
16: R13         Income Taxes (Details Narrative)                    HTML     16K 
24: R14         Capital Stock (Details)                             HTML     14K 
22: XML         IDEA XML File -- Filing Summary                      XML     37K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX     17K 
 8: EX-101.INS  XBRL Instance -- cncn-20200331                       XML    140K 
 6: EX-101.CAL  XBRL Calculations -- cncn-20200331_cal               XML     56K 
 7: EX-101.DEF  XBRL Definitions -- cncn-20200331_def                XML     59K 
 9: EX-101.LAB  XBRL Labels -- cncn-20200331_lab                     XML    294K 
10: EX-101.PRE  XBRL Presentations -- cncn-20200331_pre              XML    214K 
11: EX-101.SCH  XBRL Schema -- cncn-20200331                         XSD     36K 
23: ZIP         XBRL Zipped Folder -- 0001191334-20-000013-xbrl      Zip     26K 


‘EX-101.INS’   —   XBRL Instance — cncn-20200331


This Exhibit is an XBRL XML File.


                                                                                                                                                                                
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<div style="margin-left: 36pt; width: 540pt"><p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"><b>Note 1 – Basis of Presentation</b></p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The accompanying unaudited condensed consolidated financial statements of Chun Can Capital Group (formerly Cintel Corp.) (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments), necessary to state fairly the financial information included herein.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ materially from these estimates.  In addition, any changes in these estimates or their related assumptions could have a materially adverse effect on the Company's operating results.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. While the Company believes that the disclosures are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"><b>Going Concern</b></p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The Company’s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.  The Company is a non-operating shell company which has experienced recurring operating losses and has.an accumulated deficit.  These conditions raise uncertainty about the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The Company’s ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its product and attain profitable operations. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company.  Although the Company plans to pursue additional equity financing, there can be no assurance that the Company will be able to secure financing when needed or obtain such on terms satisfactory to the Company, if at all.</p></div>
</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="From2020-01-01to2020-03-31">
<div style="margin-left: 36pt; width: 540pt"><p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"><b>Note 2 - Income Taxes</b></p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The corporate tax rates is 21%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The U.S. tax losses can be carried forward for 15 to 20 years to offset future taxable income and expire in years 2020 to 2029.  The Company had net operating losses of $20,698,134 at March 31, 2020.</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The provision for income taxes for the three months ended March 31, 2020 and 2019 are summarized as follows:</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <table style="border-collapse: collapse; width: 100%"><tr><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2020</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2019</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%"><p style="font: 10pt Times New Roman; margin: 0">Income tax – current</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(6,118</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.26%"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #FFFFFF; width: 75.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">Income tax – deferred</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">6,118</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 1.26%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.26%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #CCEEFF; width: 0.94%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> </table> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">The Company has deferred tax assets (liabilities) at March 31, 2020 and December 31, 2019 as follows:</p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <table style="border-collapse: collapse; width: 100%"><tr><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2020</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2019</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%"><p style="font: 10pt Times New Roman; margin: 0">Net operating loss carryforwards</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">4,346,608</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">4,340,490</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #FFFFFF; width: 75.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">Valuation allowance</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.92%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(4,346,608</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(4,340,490</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> </table> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p></div>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2020-01-01to2020-03-31">
<div style="margin-left: 36pt; width: 540pt"><p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"><b>Note 3 – Capital Stock</b></p> <p style="font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF"> </p> <p style="text-align: justify; font: 10pt Times New Roman; margin: 0; color: #000000; background-color: #FFFFFF">On February 19, 2020, the Company issued 220,000,000 shares of common stock to a company controlled by the legal custodian of the Company to convert $10,000 in payables.</p></div>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="From2020-01-01to2020-03-31">
<p style="margin: 0pt"> </p> <table style="border-collapse: collapse; width: 100%"><tr><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2020</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2019</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%"><p style="font: 10pt Times New Roman; margin: 0">Income tax – current</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(6,118</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.26%"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #FFFFFF; width: 75.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">Income tax – deferred</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">6,118</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 1.26%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.26%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #CCEEFF; width: 0.94%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> </table> <p style="margin: 0pt"></p>
</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="From2020-01-01to2020-03-31">
<p style="margin: 0pt"> </p> <table style="border-collapse: collapse; width: 100%"><tr><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2020</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom; border-bottom: #000000 1.5pt solid"><p style="text-align: center; font: 10pt Times New Roman; margin: 0; text-indent: -9pt"><b>2019</b></p> </td><td style="vertical-align: bottom; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td colspan="2" style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%"><p style="font: 10pt Times New Roman; margin: 0">Net operating loss carryforwards</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">4,346,608</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">4,340,490</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #FFFFFF; width: 75.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">Valuation allowance</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.92%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(4,346,608</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.92%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 1.5pt solid; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">(4,340,490</p> </td><td style="vertical-align: bottom; background-color: #FFFFFF; width: 0.94%; padding-bottom: 1.5pt"><p style="font: 10pt Times New Roman; margin: 0">)</p> </td></tr> <tr><td style="vertical-align: bottom; background-color: #C6D9F1; width: 75.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 9.26%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.92%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="text-align: right; font: 10pt Times New Roman; margin: 0"> </p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 1.06%"><p style="font: 10pt Times New Roman; margin: 0">$</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; border-bottom: #000000 3px double; width: 8.94%"><p style="text-align: right; font: 10pt Times New Roman; margin: 0">-</p> </td><td style="vertical-align: bottom; background-color: #C6D9F1; width: 0.94%; padding-bottom: 3pt"><p style="font: 10pt Times New Roman; margin: 0"> </p> </td></tr> </table> <p style="margin: 0pt"></p>
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<us-gaap:PreferredStockSharesIssued contextRef="AsOf2019-12-31" unitRef="Shares" xsi:nil="true"/>
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<us-gaap:PreferredStockSharesOutstanding contextRef="AsOf2019-12-31" unitRef="Shares" xsi:nil="true"/>
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<us-gaap:EarningsPerShareBasicAndDiluted contextRef="From2019-01-01to2019-03-31" unitRef="USDPShares" xsi:nil="true"/>
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<us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="From2019-01-01to2019-03-31" unitRef="Shares" decimals="INF"> 33011 </us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="From2020-01-01to2020-03-31_us-gaap_CommonStockMember" unitRef="Shares" decimals="INF"> 220000000 </us-gaap:StockIssuedDuringPeriodSharesOther>
<us-gaap:StockIssuedDuringPeriodSharesOther contextRef="From2020-01-01to2020-03-31_us-gaap_CommonStockMember639285250" unitRef="Shares" decimals="INF"> 220000000 </us-gaap:StockIssuedDuringPeriodSharesOther>
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</xbrli:xbrl>

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