Ceetop Inc.

CIK:0001439254|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statements of Income and Comprehensive Income [Abstract]
Sales
Cost of Sales
Gross Profit
Selling, general and administrative expense	71,627	144,864	261,604	376,384
(Loss) from operations	(71,627)	(144,864)	(261,604)	(376,384)
Other income (loss)	(10)	3,735	1,445	3,773
Equity (loss) - share of investee company (Note 7)	64	(6,097)	(9,491)	(62,683)
Investment income (loss)	(214)		31,936
Interest expense	100		(14,881)
Interest income	7	39	19	79
Net loss	(71,680)	(147,187)	(252,575)	(435,215)
Other comprehensive loss - Foreign currency translation adjustment	(6,993)	(102,668)	(54,221)	(84,086)
Comprehensive loss	$ (78,674)	$ (249,855)	$ (306,797)	$ (519,301)
Net loss per share - basic and diluted	$ (0.00)	$ (0.00)	$ (0.01)	$ (0.01)
Weighted average shares outstanding - basic and diluted	44,596,631	46,956,631	46,816,143	46,956,631

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (252,575)	$ (435,215)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property, plant and equipment	22,154	22,500
Amortization of intangible assets	27,244
Gain on disposal of investment	(31,936)
Share of loss in equity investment in Softview	9,491	62,683
Changes in operating assets and liabilities:
Accounts payable	(892)
Due to related party	252,819
Other receivables, deposits and advance to suppliers	(260,110)	(609,960)
Accrued expenses and other payables	219,057	23,929
Net cash used in operating activities	(14,749)	(936,164)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposition of investment
Disposal of property and equipment
Net cash provided by financing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Advance from a director (Note 12)	20,074
Advance from an investee company		550,285
Funds received from investors		373,750
Net cash generated by financing activities	20,074	924,035
Effect of exchange rate changes on cash and cash equivalents	(841)	(7,635)
Net change in cash and cash equivalents	4,484	(19,764)
Cash and cash equivalents, beginning balance	2,788	25,157
Cash and cash equivalents, ending balance	7,272	5,393
Cash interest paid
Cash income tax paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES
Other accounts receivable paid by stock	452,025
Stock paid to offset funds owed in other accounts receivable	(452,025)
Disposal of investments by offsetting payables	$ 1,124,843

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 7,272	$ 2,788
Other receivables (Note 4)	833,486	1,053,655
Total Current Assets	840,758	1,056,443
Property, plant and equipment, net (Note 5)	87,303	112,162
Intangible assets (Note 6)	869,177	920,680
Equity investment in an investee company (Note 7)		1,132,994
Total Assets	1,797,237	3,222,279
Current Liabilities
Accounts payable		904
Accrued expenses and other payables (Note 8)	348,073	132,071
Due to related party (Note 12)	163,195	1,044,512
Total Current Liabilities	511,267	1,177,487
Stockholders' Equity
Preferred Stock, $0.001 par values, 3,558,046 shares authorized, 0 shares issued and Outstanding at September 30, 2016 and December 31, 2015
Common Stock, $0.001 par value, 100,000,000 shares authorized, 44,596,631 and 47,596,631 shares issued and outstanding as at September 30, 2016 and December 31, 2015	44,596	47,596
Additional paid-in capital	12,128,722	12,577,747
Accumulated other comprehensive income (loss)	(13,331)	40,890
Accumulated (deficit)	(10,874,016)	(10,621,441)
Total Stockholders' Equity	1,285,970	2,044,792
Total Liabilities and Stockholders' Equity	$ 1,797,237	$ 3,222,279