CHINA FORESTRY INC

CIK:0000805729|SEC Filings

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Consolidated Statements Of Income And Comprehensive Income
Revenues - related party	$ 165,793	$ 120,001	$ 504,765	$ 354,907
Cost of revenues	100,935	84,417	321,757	240,561
Gross profit	64,858	35,584	183,008	114,346
Operating expenses
General and administrative expenses	23,649	13,569	89,702	46,153
Operating income	41,209	22,015	93,306	68,193
Other income/(expenses)
Other income			27,354
Interest income	226	1	377	4
Other expenses	(618)		(618)
Total other income/(expenses)	(392)	1	27,113	4
Earnings before tax	40,817	22,016	120,419	68,197
Income tax
Net income	40,817	22,016	120,419	68,197
Net loss attributable to noncontrolling interests	(528)		(1,990)
Net income attributable to ordinary shareholders	41,345	22,016	122,409	68,197
Other comprehensive income (loss) :
Foreign currency translation (loss)/gain	(43,852)	18,648	(64,535)	42,328
Comprehensive (loss)/income	(3,035)	40,664	55,884	110,525
Total comprehensive loss attributable to noncontrolling interests	(2,173)		(4,350)
Total comprehensive loss attributable to ordinary shareholders	$ (862)	$ 40,664	$ 60,234	$ 110,525
Earnings per share
Basic and Diluted	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of Common shares outstanding
Basic and Diluted	56,560,007	56,560,007	56,560,007	56,560,007

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities
Net income	$ 120,419	$ 68,197
Gain on bargain purchase	(26,747)
Increase in prepayments	(22,338)
Increase in accounts receivable	(76,761)
Decrease/(increase) in related party receivable	25,574	(107,380)
(Decrease)/increase in accrued liabilities	(63,359)	7,035
Increase/(decrease) in related party advances	206	(1,713)
Net cash used in operating activities	(43,006)	(33,861)
Cash flows from financing activities
Paid in capital	15,872
Increase in related party payable	106,864	32,466
Net cash provided by financing activities	122,736	32,466
Net increase/(decrease) of cash and cash equivalents	79,730	(1,395)
Effect of foreign currency translation on cash and cash equivalents	(5,407)	1,195
Cash and cash equivalents - beginning of period	24,962	4,270
Cash and cash equivalents - end of period	99,285	4,070
Supplementary cash flow information:
Interest received	377	4
Interest paid
Income taxes paid

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 99,285	$ 24,962
Accounts receivable	72,817
Accounts receivable - related party, net	2,927	2,936
Prepayments	42,379
Related party receivable	1,074,257	1,159,477
Total current assets	1,291,665	1,187,375
Non-current asset
Intangible asset, net	134	141
TOTAL ASSETS	1,291,799	1,187,516
Current liabilities
Accrued and other liabilities	93,592	158,199
Related party advances	2,342	928
Related party payable	483,090	378,390
TOTAL LIABILITIES	579,024	537,517
COMMITMENTS AND CONTINGENCIES
Stockholders' equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.001 par value; 200,000,000 shares authorized, 56,560,007 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	56,560	56,560
Additional paid in capital	1,083,474	1,083,474
Statutory reserve	69,967	69,967
Accumulated other comprehensive loss	(69,407)	(4,872)
Accumulated deficit	(438,693)	(555,130)
Total Stockholders' equity	701,901	649,999
Noncontrolling interests	10,874
Total Equity	712,775	649,999
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,291,799	$ 1,187,516