China Carbon Graphite Group, Inc.

CIK:0001284450|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Sales	$ 122,955	$ 91,494	$ 192,374	$ 352,909
Cost of Goods Sold	61,921	52,551	104,427	191,803
Gross Profit	61,034	38,943	87,947	161,106
Operating Expenses
Selling expenses	3,015	4,465	23,579	39,252
General and administrative	95,804	81,008	322,046	253,033
Total operating expenses	98,819	85,473	345,625	292,285
Loss before other income (expense) and income taxes	(37,785)	(46,530)	(257,678)	(131,179)
Other Income (Expense)
Interest expense	(15,588)	(10,422)	(47,287)	(45,329)
Other income (expense), net		3	135	3,454
Loss on debt settlement	(30,000)		(75,000)
Total other income (expense), net	(45,588)	(10,419)	(122,152)	(41,875)
Loss before income taxes	(83,373)	(56,949)	(379,830)	(173,054)
Income Tax Expense
Net loss	(83,373)	(56,949)	(379,830)	(173,054)
Other Comprehensive Income
Foreign currency translation gain (loss)	(906)	(14,940)	(5,130)	(9,491)
Total Comprehensive Loss	$ (84,279)	$ (71,889)	$ (384,960)	$ (182,545)
Basic and diluted loss per share
Net loss per share – basic and diluted (in Dollars per share)	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average common shares outstanding,basic and diluted (in Shares)	31,504,085	27,742,346	29,576,961	27,709,937

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities
Net Loss available to common shareholders Adjustments to reconcile net cash provided by operating activities	$ (379,830)	$ (173,054)
Depreciation	7,148	6,597
Stock compensation	48,000	15,388
Loss on debt settlement	75,000
Imputed interest	37,041	33,514
Changes in operating assets and liabilities
Accounts receivable	(3,483)	3,765
Other receivables	(2,162)	4,815
Advance to suppliers	(331,429)
Inventory	(79,198)	2,004
Prepaid expenses	18,989	(22,122)
Right-of-use asset	35,543	30,691
Accounts payable and accrued liabilities	279,108	8,833
Advance from customers	984,384	(24,246)
Taxes payable	(9,467)	777
Other payables	(360,147)	41,837
Lease liability	(35,543)	(30,691)
Net cash provided by (used in) operating activities	283,954	(101,892)
Cash flows from investing activities
Acquisition of plant and equipment	(20,952)	(1,658)
Net cash used in investing activities	(20,952)	(1,658)
Cash flows from financing activities
Loan payable		93,900
Net cash used in financing activities		93,900
Effect of exchange rate fluctuation on cash and cash equivalents	1,172	16
Net increase (decrease) in cash	264,174	(9,634)
Cash and cash equivalents at beginning of period	8,129	11,585
Cash and cash equivalents at ending of period	272,303	1,951
Supplemental disclosure of cash flow information
Interest paid
Income taxes paid
Non-cash activities:
Issuance of common stock for debt settlement	$ 615,000

Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 272,303	$ 8,129
Account receivable	3,527
Inventories	79,527
Advance to suppliers	332,803
Prepaid expenses		18,829
Other receivables,net	21,846	19,500
Total current assets	710,006	46,458
Right-of-use asset - non current	11,013	44,144
Property And Equipment, Net	45,294	31,040
Total Assets	766,313	121,642
Current Liabilities
Accounts payable and accrued expenses	210,233	138,972
Accrued payroll - related party	415,775	747,281
Advance from customers	1,044,989	55,819
Loan payable	93,900	93,900
Other payables	1,320,729	1,686,961
Lease liability - current	11,013	42,006
Dividends payable	55,015	55,015
Total current liabilities	3,151,654	2,819,954
Lease liability - non current		2,138
Total Liabilities	3,151,654	2,822,092
Stockholders’ Deficit
Common stock, $0.001 par value; 100,000,000 shares authorized 32,482,346 and 27,742,346 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	32,482	27,742
Additional paid-in capital	49,587,025	48,891,697
Accumulated other comprehensive income	67,515	72,645
Accumulated loss	(52,072,363)	(51,692,533)
Total stockholders’ deficit	(2,385,341)	(2,700,449)
Total Liabilities and Stockholders’ Deficit	$ 766,313	$ 121,643