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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Yinfu Gold Corporation (PK) | USOTC:ELRE | 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% | 0.30 | 0.2825 | 0.978 | 0.00 | 11:53:30 |
|
YINFU GOLD CORPORATION
|
(Exact name of registrant as specified in its charter)
|
WYOMING
|
|
20-8531222
|
(State or other jurisdiction of incorporation or organization)
|
|
(IRS Employer Identification No.)
|
Large accelerated filer
|
¨
|
Accelerated filer
|
¨
|
Non-accelerated filer
|
x
|
Smaller reporting company
|
x
|
|
Emerging growth company
|
¨
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
Common stock, par value $0.001 per share
|
|
ELRE
|
|
OTCQB
|
|
|
2 |
|
3 |
|
|
December 31, |
|
March 31, |
|||||
|
2019 |
|
2019 |
|
||||
Assets |
||||||||
|
||||||||
Current Assets |
|
|||||||
Cash and cash equivalents |
|
$ |
368 |
|
$ |
519 |
|
|
Other receivables |
|
962 |
|
7,039 |
|
|||
Total Assets |
|
$ |
1,330 |
|
$ |
7,558 |
||
|
||||||||
Liabilities and Stockholders’ Deficit |
||||||||
|
||||||||
Current liabilities |
||||||||
|
||||||||
Accounts payable and accrued liabilities |
|
132,935 |
|
109,241 |
|
|||
Short-term loan |
|
164,081 |
|
169,309 |
|
|||
Note payable - related party |
|
1,262,142 |
|
1,145,112 |
|
|||
Total Current Liabilities |
|
1,559,158 |
|
1,423,662 |
|
|||
Total Liabilities |
|
1,559,158 |
|
1,423,662 |
||||
|
||||||||
Stockholders’ Deficit |
|
|||||||
Common stock, ($0.001 par value, 3,000,000 shares authorized, 9,917,592 shares issued and outstanding as of December 31, 2019 and March 31,2019) |
|
9,918 |
|
9,918 |
|
|||
Accumulated deficit |
|
(1,586,892 |
) |
|
(1,434,619 |
) |
||
Accumulated other comprehensive loss |
|
19,146 |
|
8,597 |
||||
Total Stockholders’ Deficit |
|
(1,557,828 |
) |
|
(1,416,104 |
) |
||
Total Liabilities and Stockholders’ Deficit |
|
$ |
1,330 |
|
$ |
7,558 |
4 |
|
|
|
For the Three Months ended December 31, |
|
|
For the Nine Months ended December 31, |
|
||||||||||
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
REVENUE |
|
$ | - |
|
|
$ | - |
|
|
$ | - |
|
|
$ | - |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative |
|
|
37,006 |
|
|
|
47,437 |
|
|
|
122,528 |
|
|
|
171,208 |
|
Professional fees |
|
|
4,411 |
|
|
|
3,461 |
|
|
|
29,755 |
|
|
|
42,395 |
|
Total operating expenses |
|
|
41,417 |
|
|
|
50,898 |
|
|
|
152,283 |
|
|
|
213,603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss from operations |
|
|
(41,417 | ) |
|
|
(50,898 | ) |
|
|
(152,283 | ) |
|
|
(213,603 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income and (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Net loss |
|
|
(41,417 | ) |
|
|
(50,898 | ) |
|
|
(152,283 | ) |
|
|
(213,603 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted loss per common share |
|
|
(0.00 | ) |
|
|
(0.01 | ) |
|
|
(0.02 | ) |
|
|
(0.02 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic and diluted |
|
|
9,917,592 |
|
|
|
9,917,592 |
|
|
|
9,917,592 |
|
|
|
9,917,592 |
|
5 |
|
YINFU GOLD CORPORATION
|
(Unaudited)
(Stated in U.S. Dollars)
|
|
|
For the Three Months ended December 31, |
|
|
For the Nine Months ended December 31, |
|
||||||||||
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
NET LOSS |
|
$ | (41,417 | ) |
|
$ | (50,898 | ) |
|
$ | (152,283 | ) |
|
$ | (213,603 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE LOSS NET OF TAX: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
|
(35,469 | ) |
|
|
214 |
|
|
|
14,511 |
|
|
|
18,166 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE LOSS |
|
|
(35,469 | ) |
|
|
214 |
|
|
|
10,559 |
|
|
|
18,166 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMPREHENSIVE LOSS |
|
$ | (76,875 | ) |
|
$ | (50,684 | ) |
|
$ | (141,724 | ) |
|
$ | (195,437 | ) |
6 |
|
|
|
Common Stock |
|
|
|
|
|
Accumulated other |
|
|
|
|
||||||||
|
|
Number of shares |
|
|
Par value |
|
|
Accumulated Deficit |
|
|
comprehensive loss |
|
|
Total |
|
|||||
Balance as of March 31,2019 |
|
|
9,917,592 |
|
|
$ | 9,918 |
|
|
$ | (1,434,619 | ) |
|
$ | 8,597 |
|
|
$ | (1,416,104 | ) |
Foreign currency translation adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,327 |
|
|
|
25,327 |
|
Net loss |
|
|
|
|
|
|
|
|
|
|
(61,967 | ) |
|
|
|
|
|
|
(61,967 | ) |
Balance as of June 30,2019 |
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,496,586 | ) |
|
|
33,924 |
|
|
|
(1,452,744 | ) |
Foreign currency translation adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,701 |
|
|
|
20,701 |
|
Net loss |
|
|
|
|
|
|
|
|
|
|
(48,899 | ) |
|
|
|
|
|
|
(48,899 | ) |
Balance as of September 30,2019 |
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,545,485 | ) |
|
|
54,625 |
|
|
|
(1,480,942 | ) |
Foreign currency translation adjustment |
|
|
|
|
|
|
|
|
|
|
10 |
|
|
|
(35,479 |
) |
|
|
(35,469 |
) |
Net loss |
|
|
|
|
|
|
|
|
|
|
(41,417 | ) |
|
|
|
|
|
|
(41,407 | ) |
Balance as of December 31,2019 |
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,586,892 |
) |
|
|
19,146 |
|
|
|
(1,557,828 |
) |
|
|
Common Stock
|
|
|
|
|
|
Accumulated
|
|
|
|
|
||||||||
|
|
Number
of shares
|
|
|
Par value
|
|
|
Accumulated
Deficit
|
|
|
other
comprehensive loss
|
|
|
Total
|
|
|||||
Balance as of March 31,2018
|
|
|
9,917,592 |
|
|
$ | 9,918 |
|
|
$ | (1,171,294 | ) |
|
$ | (12,558 | ) |
|
$ | (1,173,934 | ) |
Foreign currency translation adjustment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,479 |
|
|
|
9,479 |
|
Net loss
|
|
|
|
|
|
|
|
|
|
|
(89,447 | ) |
|
|
|
|
|
|
(89,447 | ) |
Balance as of June 30,2018
|
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,260,741 | ) |
|
|
(3,079 | ) |
|
|
(1,253,902 | ) |
Foreign currency translation adjustment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,473 |
|
|
|
8,473 |
|
Net loss
|
|
|
|
|
|
|
|
|
|
|
(73,258 | ) |
|
|
|
|
|
|
(73,258 | ) |
Balance as of September 30,2018
|
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,333,999 | ) |
|
|
5,394 |
|
|
|
(1,318,687 | ) |
Foreign currency translation adjustment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
214 |
|
|
|
214 |
|
Net loss
|
|
|
|
|
|
|
|
|
|
|
(50,898 | ) |
|
|
|
|
|
|
(50,898 | ) |
Balance as of December 31,2018
|
|
|
9,917,592 |
|
|
|
9,918 |
|
|
|
(1,384,897 | ) |
|
|
5,608 |
|
|
|
(1,369,371 | ) |
7 |
|
YINFU GOLD CORPORATION
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
|
|
|
For the Nine Months Ended December 31, |
|
|||||
|
|
2019 |
|
|
2018 |
|
||
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
||
Net loss |
|
|
(152,283 | ) |
|
|
(213,603 | ) |
Depreciation |
|
|
- |
|
|
|
|
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
Other receivables |
|
|
2,281 |
|
|
|
(138 | ) |
Accounts payable and accrued liabilities |
|
|
24,126 |
|
|
|
(55,379 | ) |
Net cash used in operating activities |
|
$ | (125,876 | ) |
|
$ | (269,120 | ) |
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
$ | - |
|
|
$ | - |
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
Repayment of short-term loans |
|
|
(1,426 | ) |
|
|
(258 | ) |
Proceeds from note payable - related parties |
|
|
126,643 |
|
|
|
196,897 |
|
|
|
$ |
125,217 |
|
|
$ | 196,639 |
|
|
|
|
|
|
|
|
|
|
Effect on changes in foreign exchange rate |
|
|
508 |
|
|
|
18,166 |
|
Net increase in cash and cash equivalents |
|
|
(151 |
) |
|
|
(54,315 | ) |
Cash and cash equivalents, beginning of period |
|
|
519 |
|
|
|
55,054 |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of period |
|
$ | 368 |
|
|
$ | 739 |
|
8 |
|
9 |
|
Name of Subsidiary
|
|
State or Jurisdiction of Organization of Entity
|
|
Attributable
|
|
|
Yinfu Group Overseas Investment & Finance Limited (“BVI”)*
|
|
BVI
|
|
|
0 | % |
Yinfu Group International Holdings Limited (“HK”)
|
|
Hong Kong
|
|
|
100 | % |
Yinfu International Holdings Limited (“WOFE”)
|
|
P.R.C.
|
|
|
100 | % |
10 |
|
11 |
|
|
|
Nine Months Ended
December 31,
|
|
|||||
|
|
2019
|
|
|
2018
|
|
||
Net loss
|
|
$ | (152,283 | ) |
|
$ | (213,603 | ) |
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding (basic and diluted)
|
|
|
9,917,592 |
|
|
|
9,917,592 |
|
|
|
|
|
|
|
|
|
|
Net loss per common share, basic and diluted
|
|
$ | (0.02 | ) |
|
$ | (0.02 | ) |
12 |
|
13 |
|
14 |
|
Periods |
|
|
|
|
For year ended March 31, 2020 (excluding the nine months ended December 31, 2019) |
|
$ | - |
|
For year ended March 31, 2021 |
|
|
- |
|
For year ended March 31, 2022 |
|
|
- |
|
For year ended March 31, 2023 |
|
|
- |
|
Thereafter |
|
|
- |
|
Total |
|
$ | - |
|
15 |
|
16 |
|
|
|
December 31,
2019
|
|
|
March 31,
2019
|
|
||
Cash
|
|
$ |
368
|
|
|
$ | 519 |
|
Total Assets
|
|
$ | 1,330 |
|
|
$ | 7,558 |
|
Total Liabilities
|
|
$ |
1,559,158
|
|
|
$ |
1,423,662
|
|
Stockholders’ Equity (Deficit)
|
|
$ |
(1,557,828
|
) |
|
$ |
(1,416,104
|
) |
17 |
|
|
|
Nine Months Ended December 31, 2019 |
|
|
Nine Months Ended December 31, 2018 |
|
||
Revenue |
|
$ | - |
|
|
$ | - |
|
Operating Expenses |
|
|
|
|
|
|
|
|
General and administrative |
|
|
122,528 |
|
|
|
171,208 |
|
Professional fees |
|
|
29,755 |
|
|
|
42,395 |
|
Total Operating Expenses |
|
$ |
152,283 |
|
|
|
213,603 |
|
Income (Loss) from Operation |
|
$ |
(152,283 |
) |
|
$ | (213,603 | ) |
18 |
|
19 |
|
20 |
|
21 |
|
|
||
|
||
|
||
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.
|
22 |
|
|
Yinfu Gold Corporation
|
||
|
(Registrant)
|
||
|
|||
Dated: February 14, 2020
|
|
/s/ Jiang, Libin
|
|
|
Jiang, Libin
|
||
|
Chief Executive Officer
|
23
|
1 Year Yinfu Gold (PK) Chart |
1 Month Yinfu Gold (PK) Chart |
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