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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Amanasu Environment Corporation (CE) | USOTC:AMSU | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 00:00:00 |
|
UNITED STATES
|
SECURITIES AND EXCHANGE COMMISSION
|
Washington, D.C. 20549
|
|
|
FORM 10-K
|
|
Nevada
|
98-0347883
|
(State of incorporation)
|
(IRS Employer Identification Number)
|
|
|
445 Park Avenue Center,
10
th
Floor
New York, NY
|
10022
|
(Address of principal executive offices)
|
(Zip Code)
|
Reference
|
Section Name
|
Page
|
PART
I
|
|
|
Item
1.
|
Business
|
3
|
Item
1A.
|
Risk
Factors
|
5
|
Item
1B.
|
Unresolved
Staff Comments
|
7
|
Item
2.
|
Properties
|
7
|
Item
3.
|
Legal
Proceedings
|
7
|
Item
4.
|
Mine
Safety Disclosures
|
7
|
|
|
|
PART
II
|
|
|
Item
5.
|
Market
for Registrant's Common Equity, Related Stockholder Matters, and
Issuer Purchases of Equity Securities
|
7
|
Item
6.
|
Selected
Financial Data
|
8
|
Item
7.
|
Management's
Discussion and Analysis of Financial Condition and Results of
Operations
|
9
|
Item
7A.
|
Quantitative
and Qualitative Disclosures about Market Risk
|
11
|
Item
8.
|
Financial
Statements and Supplementary Data
|
12
|
|
Report
of Independent Registered Public Accounting Firm
|
F-1
|
|
Consolidated
Balance Sheets
|
F-2
|
|
Consolidated
Statements of Operations
|
F-3
|
|
Consolidated
Statements of Changes in Stockholders’ Equity
|
F-4
|
|
Consolidated
Statements of Cash Flows
|
F-5
|
|
Notes
to Consolidated Financial Statements
|
F-6
|
Item
9.
|
Changes
in and Disagreements with Accountants on Accounting and Financial
Disclosure
|
13
|
Item
9A.
|
Controls
and Procedures
|
13
|
Item
9B.
|
Other
Information
|
15
|
|
|
|
PART
III
|
|
|
Item
10.
|
Directors,
Executive Officers and Corporate Governance
|
15
|
Item
11.
|
Executive
Compensation
|
15
|
Item
12.
|
Security
Ownership of Certain Beneficial Owners and Management and Related
Stockholder Matters
|
16
|
Item
13.
|
Certain
Relationships and Related Transactions, and Director
Independence
|
16
|
Item
14.
|
Principal
Accounting Fees and Services
|
18
|
|
|
|
PART
IV
|
|
|
Item
15.
|
Exhibits
and Financial Statement Schedules
|
19
|
|
Signatures
|
20
|
Quarter
Ended
|
Mar.
31
|
Jun.
30
|
Sep.
30
|
Dec.
31
|
Year
|
Fiscal
Year 2016
|
|
|
|
|
|
Common stock price
per share:
|
|
|
|
|
|
High
|
$
0.08
|
$
0.14
|
$
0.09
|
$
0.09
|
$
0.14
|
Low
|
$
0.07
|
$
0.07
|
$
0.09
|
$
0.09
|
$
0.07
|
Fiscal
Year 2015
|
|
|
|
|
|
Common stock price
per share
|
|
|
|
|
|
High
|
$
0.19
|
$
0.15
|
$
0.15
|
$
0.15
|
$
0.19
|
Low
|
$
0.15
|
$
0.15
|
$
0.15
|
$
0.07
|
$
0.07
|
Equity
Compensation Plan Information
|
|||
Plan
category
|
Number of
securities to
be issued upon
exercise
of outstanding
options,
warrants and
rights
(a)
|
Weighted-average
exercise price
of
outstanding
options, warrants
and
rights
(b)
|
Number of
securities
remaining
available
for future
issuance
under
equity
compensation
plans
(excluding
securities
reflected in
column (a))
(c)
|
Equity compensation
plans approved by security holders
|
-0-
|
-0-
|
-0-
|
Equity compensation
plans not approved by security holders
|
-0-
|
-0-
|
-0-
|
Total
|
-0-
|
-0-
|
-0-
|
|
Pages
|
Financial
Statements:
|
|
|
|
Reports
of Independent Registered Public Accounting Firms
|
F-1
|
|
|
Consolidated
Balance Sheets - December 31, 2016 and 2015
|
F-2
|
|
|
Consolidated
Statements of Operations - Years Ended December 31, 2016 and
2015
|
F-3
|
|
|
Consolidated
Statement of Changes in Stockholders' Deficit- As of December
31, 2016
|
F-4
|
|
|
Consolidated
Statements of Cash Flows - Years Ended December 31, 2016 and
2015
|
F-5
|
|
|
Notes
to Consolidated Financial Statements
|
F-6
|
|
For the Years
Ended December 31,
|
|
|
2016
|
2015
|
|
|
(Restated)
|
Revenue
|
$
-
|
$
-
|
Cost of
revenue
|
-
|
-
|
Gross
profit
|
-
|
-
|
|
|
|
General and
administrative expenses
|
70,453
|
72,155
|
Operating
loss
|
(70,453
)
|
(72,155
)
|
|
|
|
Other
Expense:
|
|
|
Interest
Expense
|
(11,766
)
|
(7,334
)
|
|
|
|
Net loss before
income taxes
|
(82,219
)
|
(79,489
)
|
Income
taxes
|
-
|
-
|
Net
loss
|
(82,219
)
|
(79,489
)
|
|
|
|
Net loss
attributable to non-controlling interest
|
-
|
-
|
|
|
|
Net loss
attributable to Amanasu Environment Corp Stockholders
|
(82,219
)
|
(79,489
)
|
|
|
|
Other Comprehensive
Loss:
|
|
|
Foreign currency
translation adjustment
|
(274
)
|
(167
)
|
Comprehensive
loss
|
(82,493
)
|
(79,656
)
|
Comprehensive loss
attributable to non-controlling interest
|
(25
)
|
(15
)
|
Comprehensive loss
attributable to Amanasu Environment Corporation
Stockholders
|
$
(82,468
)
|
$
(79,641
)
|
|
|
|
Net loss per share
– basic and diluted
|
$
(0.00
)
|
$
(0.00
)
|
Weighted average
number of shares outstanding
|
44,100,816
|
44,100,816
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
Additional
|
|
Other
|
|
|
|
Common
Stock
|
Paid
In
|
Accumulated
|
Comprehensive
|
Noncontrolling
|
|
|
|
Shares
|
Amount
|
Capital
|
Deficit
|
Income
|
Interest
|
Total
|
|
|
|
|
|
|
|
|
Balance December
31, 2014
|
44,000,816
|
$
44,101
|
$
4,793,552
|
$
(5,008,333
)
|
$
5,761
|
$
(194
)
|
$
(165,113
)
|
Net loss
(Restated)
|
|
|
|
(79,489
)
|
|
|
(79,489
)
|
Other comprehensive
loss
|
|
|
|
|
(152
)
|
(15
)
|
(167
)
|
Balance December
31, 2015 (Restated)
|
44,100,816
|
44,101
|
4,793,552
|
(5,087,822
)
|
5,609
|
(209
)
|
(244,769
)
|
Net
loss
|
|
|
|
(82,219
)
|
|
|
(82,219
)
|
Other comprehensive
loss
|
|
|
|
|
(249
)
|
(25
)
|
(274
)
|
Balance December
31, 2016
|
44,100,816
|
$
44,101
|
$
4,793,552
|
$
(5,170,041
)
|
$
5,360
|
$
(234
)
|
$
(327,262
)
|
Year
|
Amount
|
2017
|
$
11,813
|
|
2015
|
2016
|
Income tax expense
at statutory rate
|
34
%
|
34
%
|
Change in valuation
allowance
|
(34
%)
|
(34
%)
|
Income tax
expense
|
-
|
-
|
|
U.S.
|
JAPAN
|
Net Operating Loss
Carryforwards
|
$
1,321,525
|
$
349,031
|
Valuation
Allowance
|
(1,321,525
)
|
(349,031
)
|
Balance
Recognized
|
$
-
|
$
0
|
|
U.S.
|
JAPAN
|
Net Operating Loss
Carryforwards
|
$
1,293,601
|
$
349,031
|
Valuation
Allowance
|
(1,293,601
)
|
(349,031
)
|
Balance
Recognized
|
$
0
|
$
0
|
|
Consolidated Balance Sheet
|
||
|
Previously Reported
|
Adjustments
|
As Restated
|
|
|
|
|
Accounts
payable and accrued expenses
|
$
25,375
|
$
(17,459
)
|
$
7,916
|
Accrued
expenses – related party
|
$
-0-
|
$
10,754
|
$
10,754
|
Accrued
interest - shareholders
|
$
-0
|
$
10,425
|
$
10,425
|
Due
to related parties
|
$
46,184
|
$
(21,643
)
|
$
24,541
|
Accumulated
deficit
|
$
(5,112,581
)
|
$
24,759
|
$
(5,087,822
)
|
Stockholders'
deficit
|
$
(269,528
)
|
$
24,759
|
$
(244,769
)
|
|
|
|
|
|
Consolidated Statements of Operations
|
||
|
Previously Reported
|
Adjustments
|
As Restated
|
|
|
|
|
General
and administrative expenses
|
$
97,965
|
$
(25,810
)
|
$
72,155
|
Interest
expense - stockholders and officers
|
$
6,283
|
$
1,051
|
$
7,334
|
Net
loss
|
$
(104,248
)
|
$
24,759
|
$
(79,489
)
|
Name
|
|
Age
|
|
|
Since
|
|
Position
|
|
|
|
|
|
|
|
|
Atsushi
Maki
|
|
64
|
|
|
1999
|
|
Chairman
& Chief Executive Officer
|
|
Annual
Compensation
|
|||
Name
and Principle Position
|
Year
|
Salary
($)
|
Bonus
($)
|
Other
($)
|
|
|
|
|
|
Atsushi Maki
(Chairman, President)
|
2016
|
-0-
|
-0-
|
-0-
|
|
2015
|
-0-
|
-0-
|
-0-
|
|
|
|
|
|
Title of
Security
|
|
Name and Address
of Beneficial Owner
|
|
Amount
and
Nature
of
Beneficial
Ownership
(1)
|
Percent of
Class
|
|
|
|
|
|
|
Common
Stock
|
|
Amanasu Corporation
(2) #902 Ark
Towers 1-3-40
Roppongi Minato-ku
Tokyo
Japan
|
|
33,000,000
|
74.9
%
|
Common
Stock
|
|
Atsushi Maki (3)
(4)
|
|
35,858,500
|
81.3
%
|
Common
Stock
|
|
Lina Lei
(4)
|
|
35,858,500
|
81.3
%
|
Common
Stock
|
|
Officers and
Directors, as a group (2 persons)
|
|
35,858,500
|
81.3
%
|
3(i)(a)
|
|
Articles
of Incorporation of the Company (Incorporated by reference to the
Company's Form 10-SB filed on June 20, 2001).
|
3(i)(b)
|
|
Certificate
of Amendment to Articles of Incorporation (Incorporated by
reference to the Company's Form 10-SB filed on June 20,
2001).
|
3(i)(c)
|
|
Certificate
of Amendment to Articles of Incorporation (Incorporated by
reference to the Company's Form 10-KSB filed on March 31,
2003).
|
3(ii)(a)
|
|
Amended
and Restated By - Laws of the Company (Incorporated by reference to
the Company's Form 10-SB filed on June 20, 2001).
|
10(i)
|
|
Agreement
between Family Corporation and the Company dated December 15, 1999.
(Incorporated by reference to the Company's Form 10-SB filed on
June 20, 2001).
|
10(ii)
|
|
License
agreement between the Company and Masaichi Kikuchi dated June 8,
2000. (Incorporated by reference to the Company's Form 10-SB filed
on June 20, 2001).
|
10(iii)
|
|
Technical
Consulting Agreement the Company and Masaichi Kikuchi dated June 9,
2001. (Incorporated by reference to the Company's Form 10-SB filed
on June 20, 2001).
|
10(iv)
|
|
Amendment
No. 1 to Licensing Agreement dated July 30, 2001, however,
effective June 8, 2000 by and between the Company and Masaichi
Kikuchi. (Incorporated by reference to the Company's Form 10-SB/A
filed on August 9, 2001).
|
10(v)
|
|
License
Agreement made as of September 30, 2002 by and between the Company
and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet Corporation.
(Incorporated by reference to the Company's Form 10-KSB filed on
March 31, 2003).
|
10(vi)
|
|
Addendum
to License Agreement made as of September 30, 2002 by and between
the Company and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet
Corporation. (Incorporated by reference to the Company's Form
10-KSB filed on March 31, 2003).
|
10(vii)
|
|
Stock
Purchase Agreement dated May 14, 2003 by and between the Company
and Jipangu, Inc.
|
10(viii)
|
|
Desalination
License Agreement made as of May 30, 2003 by and between the
Company Etsuro Sakagami. (Incorporated by reference to the
Company's Form 10-QSB filed on August 13, 2003).
|
|
Certification
under Section 906 of the Sarbanes-Oxley Act.
|
|
|
Certification
under Section 906 of the Sarbanes-Oxley Act.
|
|
101
INS
|
|
XBRL
Instance Document*
|
101
SCH
|
|
XBRL
Schema Document*
|
101
CAL
|
|
XBRL
Calculation Linkbase Document*
|
101
DEF
|
|
XBRL
Definition Linkbase Document*
|
101
LAB
|
|
XBRL
Labels Linkbase Document*
|
101
PRE
|
|
XBRL
Presentation Linkbase Document*
|
|
Amanasu Environment Corporation
|
|
|
|
|
|
|
|
By:
|
/s/ Atsushi
Maki
|
|
|
|
Atsushi
Maki
|
|
|
|
Chairman
& Chief Executive Officer
|
|
|
|
Chief
Financial Officer
|
|
|
|
|
|
|
|
April
17, 2017
|
|
|
|
/s/ Atsushi Maki
|
|
|
|
Atsushi
Maki
|
|
|
|
Director
|
|
|
|
|
|
|
|
April
17, 2017
|
|
1 Year Amanasu Environment (CE) Chart |
1 Month Amanasu Environment (CE) Chart |
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