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Share Name | Share Symbol | Market | Type |
---|---|---|---|
China King Spirit Group Ltd (PK) | USOTC:CKSG | 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% | 0.00 | - |
Nevada
|
30-08343441
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
1900 Avenue of the Stars, Los Angeles, CA
|
90067
|
(Address of principal executive offices)
|
(Zip Code)
|
Large accelerated filer
☐
|
|
Accelerated filer
☐
|
Non-accelerated filer
☐
|
|
Smaller reporting company
☒
|
(Do not check if smaller reporting company)
|
Emerging growth company
☐
|
PART I—FINANCIAL INFORMATION
|
3
|
Item 1. Financial Statements.
|
3
|
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
|
11
|
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
|
12
|
Item 4. Controls and Procedures.
|
12
|
PART II—OTHER INFORMATION
|
13
|
Item 1. Legal Proceedings.
|
13
|
Item 1A. Risk Factors.
|
13
|
Item 2. Unregistered Sales of Securities and Use of Proceeds.
|
13
|
Item 3. Defaults Upon Senior Securities.
|
13
|
Item 4. Mine Safety Disclosures.
|
13
|
Item 5. Other Information.
|
13
|
Item 6. Exhibits.
|
13
|
Balance Sheets – As of
March 31
, 2017 (unaudited) and June 30, 2017
|
4
|
Statements of Operations – For the Three
and Nine months ended March 31
, 2018 and 2017 (unaudited)
|
5
|
Statements of Cash Flows – For the
Nine
months ended
March 31
, 2018 and 2017 (unaudited)
|
6
|
Notes to Financial Statements (unaudited)
|
7-10
|
Three months ended
March 31,
2018
|
Three months ended
March 31,
2017
|
Nine months
ended
March 31,
2018
|
Nine months
ended
March 31,
2017
|
|||||||||||||
Revenues
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
Cost of Goods Sold
|
-
|
-
|
-
|
-
|
||||||||||||
Gross Profit
|
-
|
-
|
-
|
-
|
||||||||||||
General and Administrative Expenses
|
2,465
|
-
|
3,240
|
-
|
||||||||||||
Loss from discontinued operations
|
-
|
-
|
-
|
-
|
||||||||||||
Loss before income taxes
|
(2,465
|
)
|
-
|
(3,240
|
)
|
-
|
||||||||||
Income tax expenses
|
-
|
-
|
-
|
-
|
||||||||||||
LOSS FROM CONTINUING OPERATIONS
|
(2,465
|
)
|
-
|
(3,240
|
)
|
-
|
||||||||||
INCOME (LOSS )FROM DISCOUNTINUED OPERATIONS
|
-
|
2,552
|
(5,906
|
)
|
(1,850
|
)
|
||||||||||
NET INCOME (LOSS)
|
$
|
(2,465
|
)
|
$
|
2,552
|
$
|
(9,146
|
)
|
$
|
(1,850
|
)
|
|||||
LOSS PER COMMON SHARE – BASIC AND DILUTED (CONTINUING OPERATIONS)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
||||
INCOME (LOSS) PER COMMON SHARE – BASIC AND DILUTED (DISCONTINUED OPERATIONS)
|
$
|
(0.00
|
)
|
$
|
0.00
|
$
|
(0.00
|
)
|
$
|
(0.00
|
)
|
|||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED
|
2,528,900
|
2,113,139
|
2,528,900
|
2,037,163
|
Nine months
ended
March 31, 2018
|
Nine months
ended
March 31, 2017
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net loss
|
$
|
(3,240
|
)
|
$
|
-
|
|||
Adjustments to reconcile net loss:
|
||||||||
Accounts payable
|
1,225
|
-
|
||||||
Net cash used in operating activities – continuing operations
|
(2,105
|
)
|
-
|
|||||
Net cash used in operating activities – discontinued operations
|
-
|
(7,006
|
)
|
|||||
NET CASH USED IN OPERATING ACTIVITIES
|
(2,015
|
)
|
(7,006
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Net cash used in discontinued investing activity
|
-
|
(2,741
|
)
|
|||||
NET CASH USED IN INVESTING ACTIVITIES
|
-
|
(2,741
|
)
|
|||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Proceeds from sales of common stock
|
-
|
16,527
|
||||||
Proceeds from related parties
|
19,000
|
-
|
||||||
Net cash provided by (used in) financing activity- continuing operations
|
19,000
|
16,527
|
||||||
Net cash provided by (used in) financing activity- discontinued operations
|
(1,951
|
)
|
3,000
|
|||||
NET CASH PROVIDED BY FINANCING ACTIVITIES
|
17,049
|
19,527
|
||||||
NET INCREASE IN CASH
|
15,034
|
9,780
|
||||||
CASH, BEGINNING OF PERIOD
|
1,951
|
3,745
|
||||||
CASH, END OF PERIOD
|
$
|
16,985
|
$
|
13,525
|
||||
SUPPLEMENTAL CASH FLOW INFORMATION
|
||||||||
Income tax paid
|
$
|
-
|
$
|
-
|
||||
Interest paid
|
$
|
-
|
$
|
-
|
Three months ended
March 31,
2018
|
Three months ended
March 31,
2017
|
Nine months
ended
March 31,
2018
|
Nine months
ended
March 31,
2017
|
|||||||||||||
Revenues
|
$
|
-
|
$
|
9,485
|
$
|
-
|
$
|
16,835
|
||||||||
Cost of Goods Sold
|
-
|
536
|
-
|
1,685
|
||||||||||||
Gross Profit
|
-
|
8,949
|
-
|
15,150
|
||||||||||||
General and Administrative Expenses
|
-
|
6,397
|
5,906
|
17,000
|
||||||||||||
Loss before income taxes
|
-
|
(6,397
|
)
|
(5,906
|
)
|
(17,000
|
)
|
|||||||||
Income tax expenses
|
-
|
-
|
-
|
-
|
||||||||||||
LOSS FROM OPERATIONS
|
$
|
-
|
$
|
-
|
$
|
(5,906
|
)
|
$
|
(1,850
|
)
|
||||||
|
Nine months
ended
March 31,
2018
|
Nine months
ended
March 31,
2017
|
||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
|
|||||||
Net loss from operations
|
$
|
(5,906
|
)
|
$
|
(1,850
|
)
|
||
Adjustments to reconcile net loss to net cash (used in) operating activities:
|
||||||||
Loss on discontinued operations
|
5,906
|
-
|
||||||
Decrease in prepaid expenses
|
-
|
940
|
||||||
Increase in inventory
|
-
|
(6,462
|
)
|
|||||
Accumulated depreciation
|
-
|
366
|
||||||
NET CASH (USED IN) PROVIDED BY DISCONTINUED OPERATING ACTIVITIES
|
-
|
(7,006
|
)
|
|||||
|
||||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Equipment
|
-
|
(2,741
|
)
|
|||||
NET CASH (USED IN) PROVIDED BY DISCONTINUED INVESTING ACTIVITIES
|
-
|
(2,741
|
)
|
|||||
|
||||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Loan – related party
|
(1,951
|
)
|
3,000
|
|||||
NET CASH (USED IN) PROVIDED BY DISCONTINUED FINANCING ACTIVITIES
|
(1,951
|
3,000
|
||||||
|
||||||||
NET INCREASE (DECREASE) IN CASH FROM DISCONTINUED OPERATIONS
|
$
|
(1,9,51
|
)
|
$
|
(6,747
|
)
|
|
•
|
Establishing a formal review process of significant accounting transactions that includes participation of our principal executive officer, principal financial officer and corporate legal counsel.
|
|
•
|
Form an audit committee that will establish policies and procedures that will provide our Board of Directors with a formal review process that will among other things, assure that management controls and procedures are in place and being maintained consistently.
|
|
|
|
|
|
|
|
|
|
Jasmin Corp.
|
|
(Registrant)
|
|
Date: September 26, 2018
|
By:/s/
Dan Xu
|
Dan Xu
|
|
President and Director
|
|
Principal and Executive Officer
|
|
Principal Financial Officer
|
|
Principal Accounting Officer
|
1 Year China King Spirit (PK) Chart |
1 Month China King Spirit (PK) Chart |
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