LAGOON GROUP CORP.

CIK:0001595140|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Condensed Consolidated Statements Of Operations And Comprehensive Loss
Revenues		$ 13,872
Cost of revenues		(12,996)
Gross profit		876
Operating expenses
General & administrative expenses	(216,124)	(88,696)
Operating income	(216,124)	(87,820)
Other income/ (expense)
Other income	82,729	111,636
Profit/(loss) before tax	(133,395)	23,816
Income taxes
Net profit/(loss)	(133,395)	23,816
Other comprehensive loss
Foreign currency translation income/ (loss)	7,448
Comprehensive income/(loss)	$ (125,947)	$ 23,816
Basic and diluted loss per share
Basic and diluted weighted average shares	600,000,000	600,000,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS USED IN OPERATING ACTIVITIES
Net income/(loss)	$ (133,395)	$ 23,816
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	15,463	7,342
Recapitalization adjustment		(99,032)
Decrease in accounts receivable	344	(2,590)
Decrease in other receivable	9,341
Decrease in advance to suppliers	5,456	(178,482)
Increase in inventories	(240)	(2,211)
Increase in prepaid expenses
Decrease in accounts payable	(45,109)	106,254
Increase in other payable	70,265
Decrease in tax payable	(967)	(768)
Increase in prepaid tax	(775)	(9,398)
Decrease in accrued liabilities	(25,094)
Net cash used in operating activities	(104,711)	(155,069)
CASH FLOWS USED IN INVESTING ACTIVITIES
Purchase of equipment		(88,890)
Net cash used in investing activities		(88,890)
CASH FLOWS GENERATED BY FINANCING ACTIVITIES
Proceeds from sale of common stock
Injection of capital		98,590
Proceeds from related party	80,799	168,105
Net cash provided by financing activities	80,799	266,695
Net decrease in cash and equivalents	(23,912)	22,736
Effect of exchange rate changes on cash and cash equivalents	7,449	(30)
Cash and equivalents at beginning of the period	17,037	27,650
Cash and equivalents at end of the period	$ 574	$ 50,356

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 574	$ 17,037
Account receivable, net		344
Other receivables	582	9,923
Advance to suppliers	819	6,275
Inventories	3,837	3,597
Prepaid tax	775
Total Current Assets	6,587	37,176
Intangible assets	200,000,000
Property, plant and equipment, net	305,006,050	78,141
TOTAL ASSETS	505,012,637	115,317
Current Liabilities
Accounts payable		45,109
Other payables	116,238	45,973
Tax payable		967
Due to related parties	225,513	144,714
Accrued liabilities	4,906	30,000
Total Current Liabilities	346,657	266,763
Long term loan	200,000,000
TOTAL LIABILITIES	200,346,657	266,763
STOCKHOLDERS' DEFICIENCY
Common stock, $0.001 par value; 600,000,000 shares authorized; 600,000,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015	600,000	600,000
Additional paid in capital	305,106,962	163,590
Accumulated deficits	(1,056,138)	(922,743)
Accumulated other comprehensive income	15,156	7,707
TOTAL STOCKHOLDERS' DEFICIENCY	304,665,980	(151,446)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 505,012,637	$ 115,317