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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/26/20 Chun Can Capital Group 10-Q/A 9/30/19 5:513K China Solar & Clean… Inc |
Document/Exhibit Description Pages Size 1: 10-Q/A Hun Can Capital Group - Form 10-Q/A (09/30/2019) HTML 213K 2: EX-31.1 Sarbanes-Oxley 302 Certification HTML 12K 3: EX-31.2 Sarbanes-Oxley 302 Certification HTML 11K 4: EX-32.1 Sarbanes-Oxley 906 Certification HTML 8K 5: EX-32.2 Sarbanes-Oxley 906 Certification HTML 8K
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1 | 1st Page – Filing Submission | ||||
" | Table of Content |
UNITED STATES | ||||||
SECURITIES AND EXCHANGE COMMISSION | ||||||
Washington, D. C. 20549 | ||||||
Form 10-Q | ||||||
[X] QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
||||||
For the quarterly period ended September 30, 2019 | ||||||
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: 333-1000046 | ||||||
Chun Can Capital Group | ||||||
(Exact name of registrant as specified in its charter) | ||||||
Nevada | 52-2360156 | |||||
(State or other jurisdiction of incorporation) | (IRS Employer Identification Number) | |||||
Costa Rica Street | ||||||
Yesiana, Alma Rosa 1 |
||||||
Santo Domingo, Este | 11506 | |||||
(Address of principal executive offices and Zip Code) | (Zip Code) | |||||
(809) 249-7769 | ||||||
(Registrant's telephone number, including area code) | ||||||
Large Accelerated Filer
|
[ ]
|
Accelerated Filer
|
[ ]
|
Non-accelerated Filer
|
[ ]
|
Smaller Reporting Company
|
[X]
|
(Do not check if smaller reporting company)
|
Emerging growth company | [ ] |
APPLICABLE ONLY TO CORPORATE ISSUERS: | ||
As of February 26, 2020, there were 33,011 shares of the registrant's $0.001 par value common stock issued and outstanding. |
Chun Can Capital Group | |||
Form 10- Q/A | |||
For the Fiscal Quarter Ended September 30, 2019 | |||
TABLE OF CONTENTS | |||
Page | |||
Part I | |||
Item 1 | Financial Statements | 3 | |
Item 2 | Management Discussion and Analysis of Financial Condition and Results of Operations | 10 | |
Item 3 | Quantitave and Qualitative Disclosures About Market Risk | 13 | |
Item 4 | Controls and Procedures | 13 | |
Part II | |||
Item 1 | Legal Proceedings | 14 | |
Item 1A | Risk Factors | 14 | |
Item 2 | Unregistered Sales of Equity Securities and Use of Proceeds | 14 | |
Item 3 | Defaults Upon Senior Securities | 14 | |
Item 4 | Mine Safety Disclosures | 14 | |
Item 5 | Other Information | 14 | |
Item 6 | Exhibits | 15 | |
Signatures | 16 |
PART I - FINANCIAL INFORMATION | |||
Item 1 | Financial Statements | ||
Chun Can Capital Group | |||
(Formerly Cintel Corp. and Sunsidiary) | |||
Financial Statements | |||
For the Fiscal Quarter Ended September 30, 2019 | |||
TABLE OF CONTENTS | |||
Page | |||
Condensed Consolidated Balance Sheets (unaudited) | F-2 | ||
Condensed Consolidated Statements of Operations and Comprehensive Income (unaudited) | F-3 | ||
Condensed Consolidated Statements of Cash Flows (unaudited) | F-4 | ||
Condenses Consolidated Statements if Stockholders Deficit (Unaudited) | F-5 | ||
Notes to the Financial Statements (unaudited) | F-6 | ||
F-1 |
CHUN CAN CAPITAL GROUP
|
||||||||
(formerly CINTEL CORP. AND SUBSIDIARY)
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||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS
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||||||||
(In thousands, except share and per share amounts)
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||||||||
September 30,
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||||||||
2018
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||||||||
(Unaudited)
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||||||||
ASSETS
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||||||||
Current assets:
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||||||||
Cash and cash equivalents
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$
|
-
|
$
|
-
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||||
Loans receivable
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-
|
-
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||||||
Total current assets
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-
|
-
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||||||
Long-term investments
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-
|
-
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||||||
Property and equipment, net
|
-
|
-
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||||||
Equity method investments
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-
|
-
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||||||
Deposits and other assets
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-
|
-
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||||||
Total assets
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$
|
-
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$
|
-
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||||
LIABILITIES AND STOCKHOLDERS' DEFICIT
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||||||||
Current liabilities:
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||||||||
Accounts payable
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-
|
-
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||||||
Accrued liabilities
|
-
|
-
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||||||
Other current liabilities
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-
|
-
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||||||
Total current liabilities
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-
|
-
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||||||
Accrued severance benefits
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-
|
-
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||||||
Convertible debt
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-
|
-
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||||||
Total liabilities
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-
|
-
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||||||
Commitments
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-
|
-
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||||||
Stockholders' deficit:
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||||||||
Preferred stock: par value $0.001 per share, 30,000,000
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||||||||
shares authorized, none issued and outstanding
|
-
|
-
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||||||
Common stock: par value $0.001 per share, 270,000,000
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||||||||
shares authorized, 33,011 and 33,011 shares issued and
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||||||||
outstanding
|
3
|
3
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||||||
Additional paid-in capital
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20,666
|
20,666
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||||||
Accumulated deficit
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(20,669
|
)
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(20,669
|
)
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||||
Accumulated other comprehensive loss
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-
|
-
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||||||
Total stockholders' deficit
|
-
|
-
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||||||
Total liabilities and stockholders' deficit
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-
|
-
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||||||
See accompanying notes to financial statements.
|
CHUN CAN CAPITAL GROUP
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(formerly CINTEL CORP. AND SUBSIDIARY)
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
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||||||||||||||||
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND 2018
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||||||||||||||||
(Unaudited, in thousands, except per share amounts)
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||||||||||||||||
For the Three Months Ended
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For the Nine Months Ended
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|||||||||||||||
September 30,
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||||||||||||||||
2018
|
2019
|
2018
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||||||||||||||
Net revenues
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$
|
-
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$
|
-
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$
|
-
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$
|
-
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||||||||
Operating expenses:
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||||||||||||||||
General and administrative expenses
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-
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-
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-
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-
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||||||||||||
Depreciation and amortization
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-
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-
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-
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-
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||||||||||||
Goodwill impairment loss
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-
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-
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-
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-
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Total operating expenses
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-
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-
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-
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-
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||||||||||||
Loss from operations
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-
|
-
|
|
-
|
-
|
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Other income (expenses):
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||||||||||||||||
Net loss on sale of property and equipment
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-
|
-
|
-
|
-
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||||||||||||
Interest expense
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-
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-
|
|
-
|
-
|
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||||||||||
Impairment loss on investment
|
-
|
-
|
|
-
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-
|
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||||||||||
Share of loss from equity investment
|
-
|
-
|
|
-
|
-
|
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||||||||||
Foreign currency transactions, net
|
-
|
-
|
-
|
-
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||||||||||||
Gain on debt settlement
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-
|
-
|
-
|
-
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||||||||||||
Other income (expenses), net
|
-
|
-
|
|
-
|
-
|
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||||||||||
Income (loss) before income taxes
|
-
|
-
|
|
-
|
-
|
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||||||||||
Income tax expense
|
-
|
-
|
-
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-
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||||||||||||
Net income (loss)
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-
|
-
|
|
-
|
-
|
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||||||||||
Other comprehensive income (loss)
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||||||||||||||||
Foreign currency translation adjustment
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-
|
-
|
|
-
|
-
|
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||||||||||
-
|
-
|
|
-
|
-
|
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|||||||||||
Total comprehensive income (loss)
|
$
|
-
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$
|
-
|
|
$
|
-
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$
|
-
|
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||||||
Income (loss) per share – basic and diluted:
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$
|
-
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$
|
-
|
|
$
|
-
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$
|
-
|
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||||||
Weighted average number of
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||||||||||||||||
common shares outstanding - basic and diluted
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33,011
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33,011
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33,011
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33,011
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||||||||||||
See accompanying notes to financial statements.
|
CINTEL CORP. AND SUBSIDIARY
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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||||||||
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND 2018
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||||||||
(Unaudited, in thousands)
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||||||||
For the Nine Months Ended
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||||||||
2018
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||||||||
Cash flows from operating activities:
|
||||||||
Net income (loss)
|
$
|
-
|
$
|
-
|
|
|||
Adjustments to reconcile net loss to net cash
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||||||||
provided by (used in) operating activities:
|
||||||||
Investment impairment
|
-
|
-
|
||||||
Impairment of goodwill
|
-
|
-
|
||||||
Depreciation expense
|
-
|
-
|
||||||
Share of loss from equity investment
|
-
|
-
|
||||||
Net loss on sale of property
|
-
|
-
|
||||||
Foreign currency transaction (gain) loss
|
-
|
-
|
|
|||||
Shares issued for services
|
-
|
-
|
||||||
Gain on debt settlement
|
-
|
-
|
||||||
(Increase) decrease in assets:
|
||||||||
Prepaid expenses and other assets
|
-
|
-
|
||||||
Security deposits
|
-
|
-
|
||||||
Increase (decrease) in liabilities:
|
||||||||
Accounts payable
|
-
|
-
|
||||||
Accrued liabilities
|
-
|
-
|
||||||
Cash provided by (used in) operating activities
|
-
|
-
|
|
|||||
Cash flows from investing activities:
|
||||||||
Payments on loan receivable
|
-
|
-
|
|
|||||
Proceeds from loan receivable
|
-
|
-
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||||||
Cash provided by investing activities
|
-
|
-
|
|
|||||
Cash flows from financing activities:
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||||||||
Proceeds from notes payable
|
-
|
-
|
||||||
Principal payments of notes payable
|
-
|
-
|
||||||
Cash used in financing activities
|
-
|
-
|
||||||
Net decrease in cash and cash equivalent
|
-
|
-
|
||||||
Effect of foreign currency translation
|
-
|
-
|
||||||
Cash and cash equivalent - beginning of period
|
-
|
-
|
||||||
Cash and cash equivalent - end of period
|
$
|
-
|
$
|
-
|
||||
Supplemental Disclosure of Cash Flows Information:
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||||||||
Cash paid during the year for:
|
||||||||
Interest
|
$
|
-
|
$
|
-
|
||||
Income taxes
|
$
|
-
|
$
|
-
|
||||
See accompanying notes to financial statements.
|
CHUN CAN CAPITAL GROUP
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||||||||||||||||||||
(formerly CINTEL CORP. AND SUBSIDIARY)
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||||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
|
||||||||||||||||||||
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2019 AND 2018
|
||||||||||||||||||||
(Unaudited, in thousands, except per share amounts)
|
||||||||||||||||||||
Additional
|
||||||||||||||||||||
Common stock
|
Paid-in
|
Accumulated
|
||||||||||||||||||
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||||
Balance, December 31, 2018
|
33,011
|
$
|
3
|
$
|
20,666
|
$
|
(20,669
|
)
|
$
|
-
|
||||||||||
Net income (loss)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Balance, March 31, 2019
|
33,011
|
3
|
20,666
|
(20,669
|
)
|
-
|
||||||||||||||
Net income (loss)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Balance, June 30, 2019
|
33,011
|
$
|
3
|
$
|
20,666
|
$
|
(20,669
|
)
|
$
|
-
|
||||||||||
Net income (loss) | - | - | - | - | - | |||||||||||||||
Balance, September 30, 2019 | 33,011 | $ | 3 | $ | 20,666 | $ | (20,669 | ) | $ | - | ||||||||||
Balance, December 31, 2017
|
33,011
|
$
|
2
|
$
|
20,666
|
$
|
(20,669
|
)
|
$
|
-
|
||||||||||
Net income (loss)
|
-
|
-
|
-
|
-
|
-
|
|
||||||||||||||
Balance, March 31, 2017
|
33,011
|
$
|
3
|
$
|
20,666
|
$
|
(20,669
|
)
|
$
|
-
|
|
|||||||||
Net income (loss)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||
Balance, June 30, 2018
|
33,011
|
$
|
3
|
$
|
20,666
|
$
|
(20,669
|
)
|
$
|
-
|
|
|||||||||
Net income (loss) | - | - | - | - | - | |||||||||||||||
Balance, September 30, 2018 | 33,011 | $ | 3 | $ | 20,666 | $ | (20,669 | ) | $ | - | ||||||||||
See accompanying notes to financial statements.
|
|
2019
|
2018
|
||||||
|
(In thousands)
|
|||||||
|
||||||||
Income tax – current
|
$
|
-
|
$
|
-
|
||||
Income tax – deferred
|
-
|
-
|
||||||
|
$
|
-
|
$
|
-
|
|
2019
|
2018
|
||||||
|
(In thousands)
|
|||||||
|
||||||||
Net operating loss carryforwards
|
$
|
-
|
$
|
-
|
||||
Valuation allowance
|
(-
|
)
|
(-
|
)
|
||||
|
$
|
-
|
$
|
-
|
September 30, | December 31, | |||||||
2019 | 2018 | |||||||
Current Assets | $ | - | $ | - | ||||
Current Liabilities | - | - | ||||||
Working Capital (Deficit) | $ | - | $ | - |
September 30, | June 30, | |||||||
2019 | 2018 | |||||||
Cash Flows from (used in) Operating Activities | $ | - | $ | - | ||||
Cash Flows provided by Investing Activities | - | - | ||||||
Cash Flows from (used in) Financing Activities | - | - | ||||||
Net Increase (decrease) in Cash During Period | - | - |
|
During the nine months ended September 30, 2019 the Company did not receive
any cash from financing activities as compared to $0 for the nine months ended September 30, 2018.
|
Exhibit Number | Form | Date | Number | Filed Herewith | |
31.1 | Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | X | |||
31.2 | Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | X | |||
32.1 | Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | X | |||
32.2
|
Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
X
|
|||
101.INS | XBRL Instance Document. | X | |||
101.SCH | XBRL Taxonomy Extension – Schema. | X | |||
101.CAL | XBRL Taxonomy Extension – Calculations. | X | |||
101.LAB | XBRL Taxonomy Extension – Labels. | X | |||
101.PRE | XBRL Taxonomy Extension – Presentation. | X | |||
101.DEF | XBRL Taxonomy Extension – Definition. | X | |||
Reports on Form 8-K: | |||||
CHUN CAN CAPITAL GROUP | ||
(the "Registrant") | ||
BY: | /s/Clara I. Gomez | |
Clara I Gomez | ||
Chief Executive Officer, | ||
This ‘10-Q/A’ Filing | Date | Other Filings | ||
---|---|---|---|---|
Filed on: | 2/26/20 | 10-K, 10-Q | ||
2/6/20 | 10-Q | |||
12/31/19 | 10-K | |||
For Period end: | 9/30/19 | 10-Q | ||
6/30/19 | 10-Q | |||
3/31/19 | 10-Q | |||
12/31/18 | 10-K | |||
9/30/18 | 10-Q | |||
6/30/18 | 10-Q | |||
12/31/17 | 10-K | |||
3/31/17 | 10-Q | |||
3/16/17 | ||||
9/30/13 | 10-Q | |||
3/12/11 | 8-K | |||
List all Filings |