10-K Filing

CEETOP INC. CIK: 1439254 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001213900-12-001855`
Period End Date	20111231
Filing Date	20120416
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	ctop-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 34 Cash Flow Statement 48 Stockholders Equity 29

Balance Sheet 60 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`	100.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	28.50M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	32.28M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	28.50M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	32.28M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Preferred stock, par value (In dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (In dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$96.93K	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
Accounts receivable	`AccountsReceivableGrossCurrent`	$97.05K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$169.70K	USD	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$58.49K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.56M	shares	Point-in-time
Inventories	`InventoryNet`	$194.34K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.56M	shares	Point-in-time
Inventories	`InventoryNet`	$164.65K	USD	Point-in-time
Amount due from related parties	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Amount due from related parties	`DueFromRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$13.11K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$4.63K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.17M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.21M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$106.78K	USD	Point-in-time
Total Assets	`Assets`	$3.27M	USD	Point-in-time
Total Assets	`Assets`	$1.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$989.56K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$305.40K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$338.28K	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$1.29M	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$338.28K	USD	Point-in-time
Common stock, USD0.001 par value, 100,000,000 shares authorized, 32,281,063 and 28,496,427 shares issued and outstanding at December 31, 2011 and December 31, 2010 respectively	`CommonStockValue`	$32.28K	USD	Point-in-time
Common stock, USD0.001 par value, 100,000,000 shares authorized, 32,281,063 and 28,496,427 shares issued and outstanding at December 31, 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`	$4.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.82M	USD	Point-in-time
Common stock issued for prepaid service	`DeferredCompensationEquity`	-	USD	Point-in-time
Common stock issued for prepaid service	`DeferredCompensationEquity`	$702.74K	USD	Point-in-time
Statutory reserve	`OtherAdditionalCapital`	-	USD	Point-in-time
Statutory reserve	`OtherAdditionalCapital`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$108.19K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$53.02K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.33M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.27M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueServicesNet`	$14.77M	USD	Annual
Sales	`SalesRevenueServicesNet`	$12.86M	USD	Annual
Cost of sales	`CostOfRevenue`	$12.16M	USD	Annual
Cost of sales	`CostOfRevenue`	$14.16M	USD	Annual
Gross profit	`GrossProfit`	$698.91K	USD	Annual
Gross profit	`GrossProfit`	$618.08K	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$200.76K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.16M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.23M	USD	Annual
(Loss) from operations	`OperatingIncomeLoss`	$-1.66M	USD	Annual
(Loss) from operations	`OperatingIncomeLoss`	$-1.61M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$7.70K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$8.49K	USD	Annual
Other income	`OtherNonoperatingIncome`	$7.64K	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$7.70K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$16.13K	USD	Annual
Net (loss)	`ProfitLoss`	$-1.60M	USD	Annual
Net (loss)	`ProfitLoss`	$-1.65M	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.23M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	31.69M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.23M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.69M	shares	Annual
Basic	`EarningsPerShareBasic`	$-0.05	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.05	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	Annual
Net loss	`ProfitLoss`	$-1.60M	USD	Annual
Net loss	`ProfitLoss`	$-1.65M	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$77.61K	USD	Annual
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$55.17K	USD	Annual
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.52M	USD	Annual
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.60M	USD	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.60M	USD	Annual
Net loss	`ProfitLoss`	$-1.65M	USD	Annual
Depreciation	`Depreciation`	$51.64K	USD	Annual
Depreciation	`Depreciation`	$48.22K	USD	Annual
Share-based payment expense	`ShareBasedCompensation`	$200.76K	USD	Annual
Share-based payment expense	`ShareBasedCompensation`	-	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$503.00	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.08K	USD	Annual
Reversal of provision previously recognized	`OtherNoncashExpense`	$-503.00	USD	Annual
Reversal of provision previously recognized	`OtherNoncashExpense`	$-638.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-18.31K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.20K	USD	Annual
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$152.90K	USD	Annual
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$-119.70K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$164.65K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$29.70K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$5.52K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-989.56K	USD	Annual
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$37.28K	USD	Annual
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$22.88K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.80M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.28M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.43K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.31K	USD	Annual
Repayment from related parties	`ProceedsFromPaymentsForLongTermLoansForRelatedParties`	-	USD	Annual
Repayment from related parties	`ProceedsFromPaymentsForLongTermLoansForRelatedParties`	$50.00K	USD	Annual
Net cash generated from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.43K	USD	Annual
Net cash generated from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$48.69K	USD	Annual
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	$-50.17K	USD	Annual
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	-	USD	Annual
Capital injection from shareholders	`ProceedsFromContributionsFromAffiliates`	$312.41K	USD	Annual
Capital injection from shareholders	`ProceedsFromContributionsFromAffiliates`	$2.93M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.93M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$362.58K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$48.31K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$73.55K	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.82M	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.19M	USD	Annual
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Interest payments	`InterestPaid`	-	USD	Annual
Interest payments	`InterestPaid`	-	USD	Annual
Income tax payments	`IncomeTaxesPaid`	-	USD	Annual
Income tax payments	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	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
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$55.17K	USD	Annual
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$77.61K	USD	Annual
Merge with China Ceetop - note 1	`StockIssuedDuringPeriodValueAcquisitions`	$40.17K	USD	Annual
Merge with China Ceetop - note 1 (Shares)	`StockIssuedDuringPeriodSharesAcquisitions`	0.00	shares	Annual
Capital injection from a shareholder - note 7	`StockholdersEquityOther`	$312.41K	USD	Annual
Issuance of common stock for prepaid service - note 6, 8	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Issuance of common stock for prepaid service - note 6, 8 (Shares)	`StockIssuedDuringPeriodSharesOther`	0.00	shares	Annual
Record of common stock for prepaid service - note 8	`RecordOfCommonStockForPrepaidService`	$196.26K	USD	Annual
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
Issuance of common stock for consultancy - note 6, 8	`StockIssuedDuringPeriodForConsultancyServiceValue`	$4.50K	USD	Annual
Issuance of common stock for consultancy - note 6, 8 (Shares)	`StockIssuedDuringPeriodForConsultancyServiceShares`	0.00	shares	Annual
(Loss) for the year	`ProfitLoss`	$-1.60M	USD	Annual
(Loss) for the year	`ProfitLoss`	$-1.65M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$532.47K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	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.