10-Q Filing

CEETOP INC. CIK: 1439254 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001213900-11-004609`
Period End Date	20110630
Filing Date	20110819
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	ctop-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 66 Cash Flow Statement 45 Stockholders Equity 26

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value (In dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value (In dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	29.36M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	28.50M	shares	Point-in-time
Common Stock, shares oustanding	`CommonStockSharesOutstanding`	29.36M	shares	Point-in-time
Common Stock, shares oustanding	`CommonStockSharesOutstanding`	28.50M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$207.13K	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$97.05K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.56M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.56M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$170.37K	USD	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$169.70K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Inventories	`InventoryNet`	$313.03K	USD	Point-in-time
Inventories	`InventoryNet`	$164.65K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.56M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.56M	shares	Point-in-time
Amount due from related parties	`DueFromRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Amount due from related parties	`DueFromRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Prepayment	`PrepaidExpenseCurrent`	$16.33K	USD	Point-in-time
Prepayment	`PrepaidExpenseCurrent`	$13.11K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.17M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.54M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$83.12K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$106.78K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.63M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$957.47K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$989.56K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$305.40K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$349.30K	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$1.29M	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$1.31M	USD	Point-in-time
Common stock, USD0.001 par value, 200,000,000 shares authorized, 29,363,063 and 28,496,427 shares issued and outstanding at June 30, 2011 and December 31, 2010 respectively	`CommonStockValue`	$29.36K	USD	Point-in-time
Common stock, USD0.001 par value, 200,000,000 shares authorized, 29,363,063 and 28,496,427 shares issued and outstanding at June 30, 2011 and December 31, 2010 respectively	`CommonStockValue`	$28.50K	USD	Point-in-time
Preferred stock, USD0.001 par value, 3,558,046 shares authorized, issued and outstanding	`PreferredStockValue`	$3.56K	USD	Point-in-time
Preferred stock, USD0.001 par value, 3,558,046 shares authorized, issued and outstanding	`PreferredStockValue`	$3.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.56M	USD	Point-in-time
Statutory reserve	`OtherAdditionalCapital`	-	USD	Point-in-time
Statutory reserve	`OtherAdditionalCapital`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$53.02K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$85.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.67M	USD	Point-in-time
Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Stockholders Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.32M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.63M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.27M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`SalesRevenueServicesNet`	$9.36M	USD	2 Qtrs
Sales, net	`SalesRevenueServicesNet`	$4.02M	USD	1 Quarter
Sales, net	`SalesRevenueServicesNet`	$3.74M	USD	1 Quarter
Sales, net	`SalesRevenueServicesNet`	$7.19M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$6.77M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$3.54M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$9.08M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$3.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$413.43K	USD	2 Qtrs
Gross profit	`GrossProfit`	$284.40K	USD	2 Qtrs
Gross profit	`GrossProfit`	$199.75K	USD	1 Quarter
Gross profit	`GrossProfit`	$205.18K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$537.63K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.15M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$556.90K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$993.58K	USD	2 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-351.72K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-709.17K	USD	2 Qtrs
(Loss) from operations	`OperatingIncomeLoss`	$-337.88K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-734.01K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.53K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.18K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.26K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.10K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$1.01K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$509.00	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$638.00	USD	2 Qtrs
Total other Income	`NonoperatingIncomeExpense`	$2.60K	USD	1 Quarter
Total other Income	`NonoperatingIncomeExpense`	$3.17K	USD	2 Qtrs
Total other Income	`NonoperatingIncomeExpense`	$5.28K	USD	2 Qtrs
Total other Income	`NonoperatingIncomeExpense`	$1.18K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-350.54K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-728.74K	USD	2 Qtrs
Net (loss)	`ProfitLoss`	$-335.28K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-706.00K	USD	2 Qtrs
Net (loss)	`ProfitLoss`	$-1.60M	USD	Annual
Basic - note 2	`WeightedAverageNumberOfSharesOutstandingBasic`	32.05M	shares	1 Quarter
Basic - note 2	`WeightedAverageNumberOfSharesOutstandingBasic`	32.92M	shares	1 Quarter
Basic - note 2	`WeightedAverageNumberOfSharesOutstandingBasic`	32.80M	shares	2 Qtrs
Basic - note 2	`WeightedAverageNumberOfSharesOutstandingBasic`	31.31M	shares	2 Qtrs
Diluted - note 2	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.92M	shares	1 Quarter
Diluted - note 2	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.80M	shares	2 Qtrs
Diluted - note 2	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.31M	shares	2 Qtrs
Diluted - note 2	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.05M	shares	1 Quarter
Basic - note 2	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic - note 2	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic - note 2	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic - note 2	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted - note 2	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted - note 2	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted - note 2	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
Diluted - note 2	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-350.54K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-728.74K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-335.28K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-706.00K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-1.60M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$32.10K	USD	2 Qtrs
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$20.56K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$11.28K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$11.86K	USD	2 Qtrs
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-696.63K	USD	2 Qtrs
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-694.14K	USD	2 Qtrs
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-339.25K	USD	1 Quarter
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-314.72K	USD	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net (Loss)	`ProfitLoss`	$-350.54K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-728.74K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-335.28K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-706.00K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-1.60M	USD	Annual
Depreciation	`Depreciation`	$25.48K	USD	2 Qtrs
Depreciation	`Depreciation`	$23.41K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$874.00	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.57K	USD	2 Qtrs
Reversal of provision previously recognized	`OtherNoncashExpense`	$-1.01K	USD	2 Qtrs
Reversal of provision previously recognized	`OtherNoncashExpense`	$-638.00	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-56.73K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-110.64K	USD	2 Qtrs
Other receivable , deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$-222.62K	USD	2 Qtrs
Other receivable , deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$-3.88K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-148.38K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-254.77K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$409.27K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-32.10K	USD	2 Qtrs
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$33.90K	USD	2 Qtrs
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$27.82K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-963.80K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-779.38K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.78K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.78K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	-	USD	2 Qtrs
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	$-50.17K	USD	2 Qtrs
Capital injection from shareholders	`ProceedsFromContributionsFromAffiliates`	$2.93M	USD	2 Qtrs
Capital injection from shareholders	`ProceedsFromContributionsFromAffiliates`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.17K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.93M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$11.17K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$30.29K	USD	2 Qtrs
Net (Decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.15M	USD	2 Qtrs
Net (Decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-883.34K	USD	2 Qtrs
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$3.64M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$3.64M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$1.79M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.32M	USD	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Foreign currency translationAdjustments - note 8	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$32.10K	USD	2 Qtrs
Foreign currency translationAdjustments - note 8	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$77.61K	USD	Annual
Merge with China Ceetop	`StockIssuedDuringPeriodValueAcquisitions`	$40.17K	USD	2 Qtrs
Merge with China Ceetop (Shares)	`StockIssuedDuringPeriodSharesAcquisitions`	0.00	shares	2 Qtrs
Issue of shares	`StockIssuedDuringPeriodValueNewIssues`	$30.00K	USD	Annual
Issue of shares (Shares)	`StockIssuedDuringPeriodSharesNewIssues`	0.00	shares	Annual
Conversion of common stock to preferred stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Conversion of common stock to preferred stock (Shares)	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	0.00	shares	Annual
Waiver of amount due to a shareholder	`AdjustmentsToAdditionalPaidInCapitalOther`	$2.93M	USD	Annual
Net (Loss)	`ProfitLoss`	$-350.54K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-728.74K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-335.28K	USD	1 Quarter
Net (Loss)	`ProfitLoss`	$-706.00K	USD	2 Qtrs
Net (Loss)	`ProfitLoss`	$-1.60M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.32M	USD	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.