GREAT CHINA MANIA HOLDINGS, INC.
CIK:0001382112|SEC Filings
GME Innotainment, Inc. - Condensed Consolidated Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
|
| CONTINUING OPERATIONS | ||||
| Revenues | $ 1,948,278 | $ 571,270 | $ 6,193,593 | $ 1,390,900 |
| Cost of Sales | 1,551,391 | 400,988 | 4,981,126 | 899,125 |
| Gross Profit | 396,887 | 170,282 | 1,212,467 | 491,775 |
| EXPENSES: | ||||
| Sales & marketing expenses | 88,172 | 10,748 | 166,625 | 32,999 |
| General and administrative expenses | 550,743 | 182,549 | 1,142,504 | 565,888 |
| Total operating expenses | 638,915 | 193,297 | 1,309,129 | 598,887 |
| OPERATING INCOME/(EXPENSE) | (242,028) | (23,015) | (96,662) | (107,112) |
| OTHER INCOME/(EXPENSE): | ||||
| Other income | 266,583 | 19,192 | 337,146 | 31,158 |
| Interest expense | (20,032) | (79,387) | ||
| Other expenses | (13,430) | (2,131) | (17,073) | (14,368) |
| Total Other Income/ (Expense) | 233,121 | 17,061 | 240,686 | 16,790 |
| NET INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES | $ (8,907) | $ (5,954) | $ 144,024 | $ (90,322) |
| PROVISION FOR INCOME TAXES | ||||
| NET INCOME/ (LOSS) FOR THE PERIOD | $ (8,907) | $ (5,954) | $ 144,024 | $ (90,322) |
| NET INCOME/ (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS | (50,783) | 66,959 | ||
| NET LOSS ATTRIBUTABLE TO GME Innotainment, INC. AND SUBSIDIARIES | 41,876 | (5,954) | 77,065 | (90,322) |
| Gain/(Loss) on foreign exchange translation | (91) | (139) | ||
| TOTAL COMPREHENSIVE INCOME/ (LOSS) FOR THE PERIOD | $ 41,785 | $ (5,954) | $ 76,926 | $ (90,322) |
| BASIC INCOME/LOSS PER SHARE | $ 0.00 | $ (0.00) | $ 0.00 | $ (0.00) |
| DILUTED INCOME/ LOSS PER SHARE | $ 0.00 | $ (0.00) | $ 0.00 | $ (0.00) |
| BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 28,433,094 | 25,878,660 | 27,832,362 | 24,559,306 |
| DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING | 32,069,458 | 25,878,660 | 31,486,726 | 24,559,306 |
GME INNOTAINMENT, Inc. - Condensed Consolidated Balance Sheets - USD ($) |
Sep. 30, 2015 |
Dec. 31, 2014 |
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|---|---|---|---|---|---|---|---|
| Current Assets: | |||||||
| Cash and cash equivalents | $ 1,265,717 | $ 657,115 | |||||
| Accounts receivable, net | 370,968 | 92,695 | |||||
| Due from related parties | 36,659 | ||||||
| Prepaid expenses and other receivables | 5,062,923 | 204,917 | |||||
| Total current assets | 6,736,267 | 954,727 | |||||
| Property, plant and equipment | 112,372 | ||||||
| Goodwill | 40,634 | ||||||
| Total Assets | 6,889,273 | 954,727 | |||||
| Current liabilities: | |||||||
| Accounts payable | 1,302,145 | 448,149 | |||||
| Accrued expenses and other payables | 179,784 | 136,442 | |||||
| Due to related parties | 5,547,227 | 144,413 | |||||
| Unearned revenue | $ 929,188 | $ 478,211 | |||||
| Short-term borrowings | |||||||
| Convertible notes | $ 111,301 | $ 88,333 | |||||
| Total Current Liabilities | 8,069,645 | 1,295,548 | |||||
| LONG-TERM LIABILITIES | |||||||
| Convertible note | 31,301 | ||||||
| Total Long-Term Liabilities | 31,301 | ||||||
| Total Liabilities | 8,069,645 | 1,326,849 | |||||
| Shareholders' Equity | |||||||
| Common stock | [1] | 284,331 | 264,331 | ||||
| Additional paid-in capital | 9,521,345 | 9,501,345 | |||||
| Accumulated deficits | (10,063,448) | (10,140,513) | |||||
| Accumulated other comprehensive income | 3,641 | 3,780 | |||||
| Total shareholders' equity attributable | [2] | (254,131) | (371,057) | ||||
| Noncontrolling interest | (926,241) | (1,065) | |||||
| TOTAL SHAREHOLDERS' EQUITY | (1,180,372) | (372,122) | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 6,889,273 | $ 954,727 | |||||
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