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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CN Resources Inc (GM) | USOTC:CNRR | 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% | 0.0002 | 0.00 | 01:00:00 |
x
|
QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED
FEBRUARY 28, 2013
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OR
|
|
o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Large Accelerated Filer
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o
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Accelerated Filer
|
o
|
|
Non-accelerated Filer
|
o
|
Smaller Reporting Company
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x
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Page
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||
PART I
|
||
Item 1.
|
3
|
|
3
|
||
4
|
||
5
|
||
6
|
||
Item 2.
|
7
|
|
Item 3.
|
9
|
|
Item 4.
|
9
|
|
PART II
|
||
Item 1.
|
10
|
|
Item 1A.
|
10
|
|
Item 2.
|
10
|
|
Item 6.
|
10
|
|
11
|
February 28, 2013
|
May 31, 2012
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$ | 24,769 | $ | 87,519 | ||||
Other receivable
|
13,214
|
3,097 | ||||||
Note receivable
|
302,682
|
292,203 | ||||||
Total current assets
|
$ | 340,665 | 382,819 | |||||
Total assets
|
$ | 340,665 | $ | 382,819 | ||||
Liabilities and Stockholders' Equity
|
||||||||
Liabilities
|
||||||||
Current Liabilities
|
||||||||
Accounts payable
|
3,817 | 4,437 | ||||||
Due to director
|
38,865 | 44,499 | ||||||
Total current liabilities
|
$ | 42,682 | $ | 48,936 | ||||
Stockholders' equity
|
||||||||
Common stock,100,000,000 of shares authorized
with $0.00001par value,26,100,000 issued and
outstanding
|
$ | 261 | $ | 261 | ||||
Preferred stock,100,000,000 shares authorized
with $0.00001par value, none issued
|
||||||||
Additional paid-in capital
|
$ | 514,939 | 514,939 | |||||
Accumulated deficit during the development stage
|
(217,217 | ) | (181,317 | ) | ||||
Other comprehensive Income (loss)
|
- | - | ||||||
Total stockholders' equity
|
$ | 297,983 | $ | 333,883 | ||||
Total liabilities and stockholders' equity
|
$ | 340,665 | $ | 382,819 |
Inception
|
||||||||||||||||||||
For the Three Months Ended
|
For the Nine Months Ended
|
(May 18, 2010)
|
||||||||||||||||||
February 28
|
February 29
|
February 28
|
February 29
|
to
|
||||||||||||||||
2013
|
2012
|
2013
|
2012
|
February 28, 2013
|
||||||||||||||||
Operating expenses
|
||||||||||||||||||||
Bank service charge
|
- | - | 6 | 94 | 252 | |||||||||||||||
Management fee
|
6,000 | 6,000 | 18,000 | 18,000 | 42,000 | |||||||||||||||
Professional fees
|
1,600 | 2,960 | 7,200 | 25,618 | 70,518 | |||||||||||||||
General and administrative expenses
|
11,208 |
36,105
|
39,254 |
60,634
|
137,762 | |||||||||||||||
Total operating expenses
|
18,808 | 45,065 | 64,460 | 104,346 | 250,532 | |||||||||||||||
Foreign Exchange Gain/Loss
|
- | - | 10,478 | - | (5,671 | ) | ||||||||||||||
Interest income
|
$ | 6,018 | $ | 5,932 | $ | 18,082 | $ | 14,926 | $ | 38,986 | ||||||||||
Net loss for the period
|
$ | (12,790 | ) | $ | (39,133 | ) | $ | (35,900 | ) | $ | (89,420 | ) | $ | (217,217 | ) | |||||
Loss per common share - basic and diluted
|
$ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | ||||||||
Weighted average common shares
outstanding - basic and diluted
|
26,100,000 | 26,100,000 | 26,100,000 | 26,100,000 |
For the nine | For the nine |
Date of inception
|
||||||||||
months
|
months
|
May 18, 2010
|
||||||||||
ended
|
ended
|
to
|
||||||||||
February 28, 2013
|
February 29, 2012
|
February 28, 2013
|
||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
||||||||||
Cash Flows From Operating Activities
|
||||||||||||
Net Loss for the period
|
$
|
(35,900
|
)
|
$
|
(89,420
|
)
|
$
|
(217,217
|
)
|
|||
Adjustments to reconcile net loss to net cash in operating activities
|
||||||||||||
Unrealized gain (loss) on foreign currency
|
(10,479
|
)
|
(5,173)
|
5,671
|
||||||||
Changes in operating assets and liabilities
|
||||||||||||
Accounts payable
|
(620
|
)
|
5,923
|
3,817
|
||||||||
Other receivable
|
(10,117
|
) |
(3,200
|
)
|
(13,214
|
)
|
||||||
Net cash used in operating activities
|
(57,116
|
)
|
(91,870
|
)
|
(220,943
|
)
|
||||||
Cash Flow From Investing Activities
|
||||||||||||
Loan receivable
|
0
|
(303,180
|
)
|
(308,353
|
) | |||||||
Net cash used in investment activities
|
0
|
(303,180
|
)
|
(308,353
|
)
|
|||||||
Cash Flows from Financing Activities
|
||||||||||||
Due to Director
|
(5,634
|
)
|
(18,415
|
)
|
38,865
|
|||||||
Proceeds from common stock issued
|
-
|
500,000
|
515,200
|
|||||||||
Net cash provided by financing activities
|
(5,634
|
)
|
481,585
|
554,065
|
||||||||
Net increase (decrease) in cash and cash equivalents
|
(62,750
|
)
|
86,535
|
24,769
|
||||||||
Cash and cash equivalents, beginning of the period
|
87,519
|
915
|
-
|
|||||||||
Cash and cash equivalents, end of the period
|
24,769
|
87,450
|
24,769
|
Exhibit
|
Description
|
|
31.01
|
||
32.01
|
||
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
|
CN Resources Inc.
|
|||
Date: April 15, 2013
|
By:
|
/s/ Oliver Xing
|
|
Oliver Xing
|
|||
President, Principal Executive Officer, Principal Accounting Officer, Principal Financial Officer, Secretary/Treasurer and sole member of the Board of Directors
|
1 Year CN Resources (GM) Chart |
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