National Art Exchange, Inc.

CIK:0001619870|SEC Filings

Statement of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Mar. 31, 2018
Income Statement [Abstract]
Revenue
Cost of revenues	287,357	574,714
Gross loss	(287,357)	(574,714)
Operating expenses:
Selling and marketing	32,402	181,593
General and administrative expenses	645,174	804,592
Total operating expenses	677,576	986,185
Operating loss	(964,933)	(1,560,899)
Other income (expenses):
Interest income	19	54
Loss before tax	(964,914)	(1,560,845)
Tax
Net loss	(964,914)	(1,560,845)
Other comprehensive income:
Foreign currency translation loss	(12,645)	7,128
Comprehensive loss	$ (977,559)	$ (1,553,717)
Loss per share
Basic and diluted loss per share	$ (0.01)	$ (0.01)
Basic and diluted weighted average shares outstanding	100,288,079	100,288,079

Statement of Cash Flows (Unaudited)	6 Months Ended
Statement of Cash Flows (Unaudited)	Mar. 31, 2018 USD ($)
Cash flows from operating activities
Net loss	$ (1,560,845)
Depreciation of fixed assets	2,471
Decrease in accounts and other receivables	317,369
Increase in advance and prepayments to suppliers	(29,879)
Decrease in accounts and other payables	(66,117)
Net cash used in operating activities	(1,337,001)
Cash flows from investing activities
Purchases of plant and equipment	(410,683)
Prepayments for building construction and equipment	223,442
Net cash used in investing activities	(187,241)
Cash flows from financing activities
Proceeds from owners’ injection of capital	909,661
Borrowings and payments to related parties, net	599,590
Net cash provided by financing activities	1,509,251
Net decrease of Cash and Cash Equivalents	(14,991)
Effect of foreign currency translation on cash and cash equivalents	(86)
Cash and cash equivalents–beginning of period	31,952
Cash and cash equivalents–end of period	16,875
Supplementary cash flow information:
Interest received	54
Interest paid
Income taxes paid

Condensed Balance Sheet (Unaudited) - USD ($)	Mar. 31, 2018	Sep. 30, 2017
Current assets
Cash and cash equivalents	$ 16,875	$ 31,952
Prepaid expenses and other current assets	145,081	313,324
Prepaid taxes	29,017
Due from related parties	16,820	204,356
Total current assets	207,793	549,632
Non-current assets
Plant and equipment, net	398,931	2,544
Prepayment for furniture and fixtures	52,239	273,404
Total Assets	658,963	825,580
Current liabilities
Accounts and other payables	19,083	24,524
Customer deposits	144,747	60,058
Due to related parties	408,592	10,400
Total current liabilities	572,422	94,982
Total liabilities	572,422	94,982
Stockholders' Equity
Common stock	100,288	288
Additional paid-in capital	1,833,397	1,833,397
Shares to be issued	40,000	120,000
Accumulated deficit	(1,888,522)	(1,217,337)
Accumulated other comprehensive income (loss)	1,378	(5,750)
Total Stockholders’ Equity	86,541	730,598
Total Liabilities and Stockholders’ Equity	$ 658,963	$ 825,580