Quarterly Report (10-q)

Date : 08/14/2018 @ 8:55PM
Source : Edgar (US Regulatory)
Stock : Po Yuen Cultural Holdings (Hong Kong) Co., Ltd. (POYN)
Quote : 1.85  0.0 (0.00%) @ 9:25PM

Quarterly Report (10-q)

 

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

 

For the quarterly period ended June 30, 2018

 

 

Commission file number: 333-198615

 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd.

(Exact name of registrant as specified in its charter)

 

Nevada

 

47-1100063

(State or other jurisdiction

 

(IRS Employer

of incorporation or organization)

 

Identification number)

 

 

 

Room A, 16/F, Winbase Centre, 208 Queens Road Central,

Sheung Wan, Hong Kong

 

N/A

(Address of Principal Executive Offices)

 

(Zip Code)

 

86-852-2350-1928

(Registrant’s Telephone Number, Including Area Code)

 

NA

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes     No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes     No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

Accelerated filer

 

Non-accelerated filer (Do not check if a smaller reporting company)

Smaller reporting company

 

Emerging Growth Company  

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No

 

As of August 14, 2018, there were 1,412,000 shares of the company’s common stock, par value $0.001 per share, outstanding. As of the last business day of the registrant’s most recently completed fiscal quarter, there was no active public trading market of our shares of common stock on the OTCQB.

 

 

 

 

 


1


 

 

TABLE OF CONTENTS

 

PART I – FINANCIAL INFORMATION.

3

 

 

Item 1.

Financial Statements .

3

 

Condensed Balance Sheets - as of June 30, 2018 (unaudited) and March 31, 2017 (audited)

3

 

Condensed Statements of Operations for the three months ended June 30, 2018 and 2017 (unaudited)

4

 

Condensed Statements of Cash Flows for the three months ended June 30, 2018 and 2017 (unaudited)

5

 

Notes to Condensed Financial Statements (unaudited)

6

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

9

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

11

Item 4

Controls and Procedures

11

 

 

PART II – OTHER INFORMATION.

12

 

 

Item 1.

Legal Proceedings

12

Item 1A.

Risk Factors

12

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

12

Item 3.

Defaults Upon Senior Securities

12

Item 4.

Mine Safety Disclosures

12

Item 5.

Other Information

13

Item 6.

Exhibits

12

 

 

SIGNATURES

13

 


2


 

 

PART I

 

Ite m 1.

Financial Statements

 

 

 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd

Balance Sheets

 

(un-audited)

(Audited

 

June 30, 2018

March 31, 2018

LIABILITIES & STOCKHOLDERS’ DEFICIT

 

 

Current Liabilities

 

 

Accrued Expenses

$ 3,500   

$ 8,275   

Due to paying agent

8,610   

663   

Due to related party

23,150   

17,724   

Total Current Liabilities

35,260   

26,662   

   TOTAL LIABILITIES

$ 35,260   

$ 26,662   

 

 

 

Commitments and Contingencies

 

 

 

 

 

Shareholders' Deficit:

 

 

Preferred stock, $.001 par value, 30,000,000 and 0 shares authorized, no shares issued and outstanding at June 30, 2018 and March 31, 2018, respectively.

 

 

Common stock, $.001 par value, 500,000,000 shares authorized, 19,412,000 issued and 19,412,000 issued and 1,412,000 and 19,412,000 outstanding at June 30, 2018 and March 31, 2018.  

19,412   

19,412   

Additional paid-in capital

265,499   

247,498   

Accumulated deficit

(302,171)  

(293,572)  

Stock held in treasuy at cost; 18,000,000 and 0 shares at June 30, 2018 and March 31, 2018

(18,000)  

 

Total Stockholders’ Deficit

(35,260)  

(26,662)  

TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT

$  

$  

 

 

The accompanying notes are an integral part of these unaudited condensed financial statements


3


 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd

Statements of Operations

for the three months ended June 30,

(Unaudited)

 

 

 

 

 

 

2018   

2017   

Revenue

$  

$  

 

 

 

Operating Expenses:

 

 

General administrative expense

8,598   

7,288   

Total operating expenses

8,598   

7,288   

 

 

 

Net loss from operations

(8,598)  

(7,288)  

Loss before income taxes

(8,598)  

(7,288)  

Provision for income taxes

 

 

Net Loss

$ (8,598)  

$ (7,288)  

 

 

 

Basic and diluted loss per share

$ (0.00)  

$ (0.00)  

 

 

 

Weighted average number of common shares outstanding basic and diluted

  2,005,407 

  19,412,000 

 

 

The accompanying notes are an integral part of these unaudited condensed financial statements


4


 

 

 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd

Statement of Cash Flows

for the three months ended June 30,

(Unaudited)

 

 

 

 

2018  

2017   

 

 

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

Net loss

$ (8,597)  

$ (7,288)  

Adjustments to reconcile net loss to net

 

 

cash used in operating activities:

 

 

Changes in operating assets and liabilities:

 

 

Accrued Expenses

(4,776)  

(5,000)  

Due to paying agent

7,947   

 

Due to Related party

5,426   

12,000   

      Net cash used in operating activities

 

(288)  

 

 

 

    Net increase (decrease) in cash

 

(288)  

 

 

 

    Cash at beginning of period

 

617   

 

 

 

    Cash at end of period

 

$ 329   

 

 

 

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:

 

 

Cash paid for interest

 

 

Cash paid for taxes

 

 

 

 

The accompanying notes are an integral part of these unaudited condensed financial statements


5


 

 

PO YUEN CULTURAL HOLDINGS (HONG KONG) CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE PERIOD ENDED JUNE 30, 2018 (UNAUDITED) AND MARCH 31, 2017

 

 

1.

ORGANIZATION AND PRINCIPAL ACTIVITIES

 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd. a Nevada corporation, (“ATI,” “Company,” “Registrant,” “we,” “us,” or “our”) was incorporated on May 14, 2014 under the name “WeWearables, Inc.”  

 

At present, we have no operations or employees.  Our sole officer and director is our controlling shareholder, Mr. Peter Tong.  The Company’s current business strategy is to investigate and, if such investigation warrants, acquire a target operating company or business seeking the perceived advantages of being a publicly held corporation.  The Company’s principal business objective for the next twelve months and beyond such time will be to achieve long-term growth potential through a combination with an operating business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.  

 

2.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

  

(a)

Basis of Presentation

 

The accompanying unaudited condensed financial statements have been prepared from the books and records of the Company in accordance with U.S. GAAP and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP. The condensed statements of operations for the three months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year or any future interim period. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2018. In the opinion of management, all adjustments considered necessary for a fair presentation of the results for the interim periods presented have been reflected in such condensed financial statements.

 

The Company maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The financial statements and notes are representations of management. Accounting policies adopted by the Company conform to U.S. GAAP and have been consistently applied in the presentation of financial statements. The accompanying financial statements are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the SEC.

 

 

(b)

Net loss per common share

 

 The Company complies with accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. At June 30, 2018, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per common share is the same as basic loss per common share for the period.

 

 

 

(c)

Use of estimates

 

The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates.

 

 

(d)

Recently issued or adopted standards

 

The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.


6


 

 

3.

ACCRUED LIABILITIES.

 

As of March 31, 2018, and June 30, 2018, the Company had $8,938 and $12,110 in accrued liabilities, respectively. The accrued liabilities mainly consist of accrued professional fees.

 

4.

GOING CONCERN AND CAPITAL RESOURCES

 

The Company does not currently engage in any business activities that provide cash flow. During the next 12 months we anticipate incurring costs related to:

 

filing of Exchange Act reports,

 

payment of annual corporate fees, and

 

investigating, analyzing and consummating an acquisition.

 

As of June 30, 2018, the Company had an accumulated deficit of $302,171. Management anticipates that fees associated with filing of Exchange Act reports including accounting fees and legal fees and payment of annual corporate fees will not exceed $75,000 within next 12 months. We do not currently intend to retain any entity to act as a "finder" to identify and analyze the merits of potential target businesses. Management intends to search for a business combination by contacting various sources including, but not limited to, our affiliates, lenders, investment banking firms, private equity funds, consultants and attorneys and does not plan to conduct a complete and exhaustive investigation and analysis of a business opportunity. Management decisions, therefore, will likely be made without detailed feasibility studies, independent analysis, market surveys and the like which, if we had more funds, would be desirable. If the management can find a suitable target company, we will have to budget for additional fees relating to the investigation into the target company (including due diligence and possibly visiting the facilities) and consummating the reverse merger, which may cost between $125,000 to $150,000. We expect that the expenses for the next 12 months and beyond such time will be paid with amounts that may be loaned to or invested in us by our stockholders, management or other investors. Since we have minimal assets and will continue to incur losses due to the expenses associated with being a reporting company under the Exchange Act, we may cease business operations if we do not timely consummate a business combination.

 

Currently, our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our ability to continue as a going concern is also dependent upon our ability to find a suitable target company and enter into a possible reverse merger with such company. Management’s plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances. However, there is no assurance of additional funding being available.

 

Our independent accountants have included an explanatory paragraph in their opinion on our financial statements as of and for the year ended March 31, 2018 that states that the Company’s lack of revenues and financial resources, among other conditions, raise substantial doubt about our ability to continue as a going concern.   

 

5.    LOANS FROM OFFICERS AND DIRECTORS

 

For the three months ended June 30, 2018, our Director and CFO, Peter Tong, paid Company expenses totaling $5,426 from personal funds. These expenses consisted primarily of professional fees. The amount due to Mr. Tong is unsecured, non-interest bearing, has no fixed term of repayment and is therefore deemed payable on demand. As of June 30, 2018 the outstanding balance due to Mr. Tong was $23,150 it is unsecured, non-interest bearing, has no fixed term of repayment and is therefore deemed payable on demand.

 

6.

COMMON STOCK TRANSACTIONS

 

  The Company is authorized to issue 500,000,000 shares of common stock. The Company issued 17,000,000 shares of its common stock to its former president and chief executive officer as founder shares.  The Company issued 3,050,000 shares of its common stock for services with a value attributed to them of $20,000.

 

In January 2015, the Company completed a public offering whereby it sold 362,000 shares of common stock at $0.10 per share for total gross proceeds of $36,200.

 

On February 12, 2016 Mr. Chen sold all 17,000,000 of his shares of common stock to Mr.  Chiang.  That same date, two other stockholders sold all of their shares, totaling 2,000,000, to Mr. Chiang.

 

On February 16, 2016, the Company’s transfer agent canceled 1,000,000 shares of common stock previously outstanding at the request of the previous stockholder.  At December 31 and March 31, 2017 there were 19,412,000 shares of common   stock issued and outstanding.


7


On October 18, 2017, and as reported on Form 8K filed on October 23, 2017, Mr. Chiang sold to Peter Tong all 19,000,000 shares of the Company’s restricted common stock. The sale was the result of a privately negotiated transaction without the use of public dissemination of promotional or sales materials. The buyer represented that it was an accredited investor and as such could bear the risk of such investment for an indefinite period of time and to afford a complete loss thereof.

On April 3, 2018, and as reported on Form 8K/A filed April 16, 2018, the board of directors of Po Yuen Cultural Holdings (Hong Kong) Co., Ltd. (the “Company”), reacquired 18 million shares of the Company’s common stock from certain shareholders, without consideration, out of the 19 million shares held by this group immediately prior to returning the shares to us, as reflected in the table below. The shares have been returned to the Company as non-voting Treasury stock.

 

 

 

7.

SUBSEQUENT EVENTS

 

 In accordance with ASC 855, the Company has analyzed its operations subsequent to June 30, 2018 through August 14, 2018 these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.


8


 

 

 

 

It em 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

This Quarterly Report on Form 10-Q includes forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “continue,” or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described under “Risk Factors” in our Form 10-K for the fiscal year ended March 31, 2018, as filed on June 28, 2018 and in our Form 10K/A filed on August 13, 2018. The following discussion should be read in conjunction with our Financial Statements and related Notes thereto included elsewhere in this report.

 

Overview

 

Po Yuen Cultural Holdings (Hong Kong) Co., Ltd. (the “Company”) was incorporated in the State of Nevada on May 14, 2014 under the name “WeWearables, Inc.”. Our principal executive offices are located at Room A, 16/F, Winbase Centre, 208 Queen’s Road Central, Sheung Wan, Hong Kong. Our phone number is 86-852-2350-1928.

 

The Company does not currently have an operating business and has limited financial resources. The Company has not established a source of equity or debt financing.

 

Our financial statements include a note emphasizing the uncertainty of our ability to remain as a going concern.

 

The Company’s current business strategy is to investigate and, if such investigation warrants, acquire a target operating company or business seeking the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the next twelve months and beyond such time will be to achieve long-term growth potential through a combination with an operating business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

Operating Expenses

 

During the three months ended June 30, 2018 and 2017, we have incurred $8,598, and $7,288 in expenses, respectively, primarily consisting of professional fees associated with the SEC filings.

 

Going Concern

 

Our independent accountants have included an explanatory paragraph in their opinion on our financial statements as of and for the year ended March 31, 2018 that states that the Company’s lack of revenues and financial resources, among other conditions, raise substantial doubt about our ability to continue as a going concern.   

 

The Company does not currently engage in any business activities that provide cash flow. During the next 12 months we anticipate incurring costs related to:

 

 

filing of Exchange Act reports,  

 

payment of annual corporate fees, and  

 

investigating, analyzing and consummating an acquisition.

  

As of June 30, 2018, the Company has an accumulated deficit of $302,171. Management anticipates that fees associated with the filing of Exchange Act reports including accounting fees, legal fees and the payment of annual corporate fees will not exceed $75,000 during the next 12 months. We do not currently intend to retain any entity to act as a “finder” to identify and analyze the merits of potential target businesses. Management intends to search for a business combination by contacting various sources including, but not limited to, our affiliates, lenders, investment banking firms, private equity funds, consultants and attorneys and does not plan to conduct a complete and exhaustive investigation and analysis of a business opportunity. Management decisions, therefore, will likely be made without detailed feasibility studies, independent analysis, market surveys and the like which, if we had more funds, would be desirable. If management can find a suitable target company, we will have to budget for additional fees relating to the investigation into the target company (including due diligence and possibly visiting the facilities) and consummating the reverse merger, which may cost between $125,000 to $150,000. We expect that the expenses for the next 12 months and beyond will be paid with amounts that may be loaned to or invested in us by our stockholders, management or other investors. Since we have minimal assets and will continue to incur losses due to the expenses associated with being a reporting company under the Exchange Act, we may cease business operations if we do not timely consummate a business combination.


9


 

We suffered recurring losses from operations and have an accumulated deficit of $302,171 as of June 30, 2018, currently, we are a non-operating public company. We currently are seeking to acquire, through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction with one or more operating businesses or assets that we have not yet identified. In the event we use all of our cash resources, certain members of management and shareholders have indicated their willingness to loan us funds at the prevailing market rate, assuming we find a suitable candidate for an acquisition, until such acquisition is consummated. Even though this is their current intention, they have made no firm commitment and it is at their sole discretion whether or not to fund us. In the event they do not fund us and we are not able to find outside investors, we will not have the funds necessary to operate and will have to dissolve.

 

Currently, our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our ability to continue as a going concern is also dependent upon our ability to find a suitable target company and enter into a possible reverse merger with such company. Management’s plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances. However, there is no assurance of additional funding being available.

 

The Company may consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

 

Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may affect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

 

Our management anticipates that it will likely be able to effect only one business combination, due primarily to our limited financing and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management’s plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization.

 

The Company anticipates that the selection of a business combination will be complex and extremely risky. Our potential merger targets are firms seeking either the benefits of a business combination with an SEC reporting company and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. While a private operating company may achieve the same benefits by filing its own Exchange Act registration statement, such benefits can be achieved at a potentially faster rate with limited regulatory review through the completion of a business combination with a public reporting company. A potentially available business combination may

occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. The time required to select and evaluate a target business and to structure and complete a business combination cannot presently be ascertained with any degree of certainty.

In identifying, evaluating and selecting a target business, we may encounter intense competition from other entities having a business objective similar to ours. There are numerous blank check companies that have gone public in the United States that have significant financial resources, that are seeking to carry out a business plan similar to our business plan. Many of these entities are well established and have extensive experience identifying and effecting business combinations directly or through affiliates. Many of these competitors possess greater technical, human and other resources than us and our financial resources will be relatively limited when contrasted with those of many of these competitors.

Liquidity and Capital Resources

 

As of June 30, 2018, our total assets were $0 and our total liabilities were $35,260, comprised of accrued expenses and due to related parties.

 

Stockholders’ deficit increased from $(26,662) as of March 31, 2018 to $(35,260) as of June 30, 2018. 

 

Cash Flows from Operating Activities

 


10


We have not generated positive cash flows from operating activities. For the three months ended June 30, 2018 and June 30, 2017, net cash flows used in operating activities were $0 and $(288) respectively, consisting of net losses in both periods and a change in accounts payable for the three months ended June 30, 2018.

 

Cash Flows from Financing Activities

 

For the three months ended June 30, 2018 and 2017, net cash from financing activities was $0 and $0, respectively, consisting of loans from former directors. .

 

 Off-Balance Sheet Arrangements

 

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

 

Ite m 3.

Quantitative and Qualitative Disclosures about Market Risk.

 

Not applicable. 

 

Ite m 4.

Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

Based on an evaluation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act), as of June 30, 2018, the Company’s Interim Chief Executive Officer and Chief Financial Officer (its principal executive officer and principal financial and accounting officer) has concluded that the Company’s disclosure controls and procedures were not effective at a reasonable assurance level.

 

Limitations on the Effectiveness of Controls

 

A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Because of the inherent limitations in all controls systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. Our disclosure controls and procedures are designed to provide reasonable assurance of achieving its objectives.

  

Changes in Internal Control Over Financial Reporting

 

There have not been any changes in the Company’s internal controls over financial reporting that occurred during the Company’s fiscal quarter ended June 30, 2018 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 


11


 

 

PART II - OTHER INFORMATION

 

Ite m 1.

Legal Proceedings.

 

None.

 

Item 1A.  

Risk Factors.

 

We are a smaller reporting company and, therefore, we are not required to provide information required by this Item.

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds.

 

None.

 

Item 3.

Defaults Upon Senior Securities.

 

None.

 

Item 4.

Mine Safety Disclosures.

 

Not applicable.

 

Item 5.

Other Information.

 

None

 

 

Item 6.  

Exhibits.  

 

Number

 

Description

 

 

 

31.1*

 

Certification of Chief Executive Officer Pursuant to Sarbanes-Oxley Section 302

 

 

 

31.2*

 

Certification of Chief Financial Officer Pursuant to Sarbanes-Oxley Section 302

 

 

 

32.1**

 

Certification Pursuant To 18 U.S.C. Section 1350, as adopted to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

 

 

 

 


12


 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

PO YUEN CULTURAL HOLDINGS (HONG KONG) CO., LTD..

 

 

 

Dated:  August 14, 2018

By:

/s/ Kwok Yuen Luk

 

Name:

Kwok Yuen Luk

 

Title:

Chief Executive Officer, (Principal Executive Officer)

 


13


 

 



 


Po Yuen Cultural Holdings (Hong (USOTC:POYN)
Historical Stock Chart

1 Year : From Jul 2018 to Jul 2019

Click Here for more Po Yuen Cultural Holdings (Hong Charts.

Po Yuen Cultural Holdings (Hong (USOTC:POYN)
Intraday Stock Chart

Today : Saturday 20 July 2019

Click Here for more Po Yuen Cultural Holdings (Hong Charts.

Latest POYN Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.