Fovea Jewelry Holdings Ltd.

CIK:0000850971|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited)
Revenue, net	$ 1,217	$ 162,887
Cost of revenue	(952)	(81,682)
Gross profit	265	81,205
Operating expenses:
General and administrative expenses	(1,922)	(8,509)
Total operating expenses	(1,922)	(8,509)
(LOSS) INCOME BEFORE INCOME TAXES	(1,657)	72,696
Income tax expenses	295	319
NET (LOSS) INCOME	(1,362)	73,015
Other comprehensive loss:
- Foreign currency adjustment loss	(3,600)	(7,757)
COMPREHENSIVE (LOSS) INCOME	$ (4,962)	$ 65,258
Net (loss) income per share - Basic and Diluted	$ (0.01)	$ 0.01
Weighted average common shares outstanding- Basic and Diluted	8,099,119	10,889,119

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flow from operating activities:
Net (loss) income	$ (1,362)	$ 73,015
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation of plant and equipment	1,922	1,934
Change in operating assets and liabilities:
Inventories	3,099	0
Deferred tax liabilities	(331)	(319)
Amount due from a shareholder	429	0
Net cash provided by operating activities	3,757	74,630
Foreign currency translation adjustment	(3,498)	(7,695)
Net change in cash and cash equivalents	259	66,935
BEGINNING OF PERIOD	1,476	832,151
END OF PERIOD	1,735	899,086
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current asset:
Cash and cash equivalents	$ 1,735	$ 1,476
Amount due from a shareholder	99,641	100,188
Inventories	727,939	731,038
Total current assets	829,315	832,584
Non-current asset:
Plant and equipment	18,518	20,521
TOTAL ASSETS	847,833	853,105
Current liabilities:
Accrued liabilities	74,500	74,500
Income tax payable	255	234
Deferred tax liabilities	3,055	3,386
Total current liabilities	77,810	78,120
TOTAL LIABILITIES	77,810	78,120
Commitments and contingencies	0	0
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 8,099,119 and 8,099,119 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	8,099	8,099
Additional paid-in capital	131,700	131,700
Accumulated other comprehensive loss	(24,278)	(20,678)
Retained earnings	653,502	654,864
Stockholder equity	770,023	774,985
Series A preferred stock, $0.001 par value,1,000,000 shares designated; 1,000,000 issued and outstanding, as of March 31, 2022 and December 31, 2021, respectively	1,000	1,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	847,833	853,105
Series A Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Series A preferred stock, $0.001 par value,1,000,000 shares designated; 1,000,000 issued and outstanding, as of March 31, 2022 and December 31, 2021, respectively	$ 0	$ 0