10-Q Filing

CEETOP INC. CIK: 1439254 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001213900-12-002890`
Period End Date	20120331
Filing Date	20120521
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ctop-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 36 Cash Flow Statement 43 Stockholders Equity 26

Balance Sheet 61 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`	32.28M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	32.28M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	32.28M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Preferred stock, par value (In dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$262.30K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.56M	shares	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$230.97K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.56M	shares	Point-in-time
Accounts receivable	`AccountsReceivableGrossCurrent`	$96.93K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Advances to suppliers	`AdvancesOnInventoryPurchases`	-	USD	Point-in-time
Advances to suppliers	`AdvancesOnInventoryPurchases`	$357.17K	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
Deposits and other receivables	`DepositsAssetsCurrent`	$58.49K	USD	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$69.24K	USD	Point-in-time
Inventories	`InventoryNet`	$259.42K	USD	Point-in-time
Inventories	`InventoryNet`	$194.34K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$4.63K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$4.95K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.21M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.18M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$59.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$50.55K	USD	Point-in-time
Total Assets	`Assets`	$1.27M	USD	Point-in-time
Total Assets	`Assets`	$1.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$169.62K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$338.28K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$288.24K	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$457.86K	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 32,281,063 shares issued and outstanding at March 31, 2012 and December 31, 2011 respectively	`CommonStockValue`	$32.28K	USD	Point-in-time
Common stock, USD0.001 par value, 100,000,000 shares authorized, 32,281,063 and 32,281,063 shares issued and outstanding at March 31, 2012 and December 31, 2011 respectively	`CommonStockValue`	$32.28K	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`	$5.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.82M	USD	Point-in-time
Common stock issued for prepaid service	`DeferredCompensationEquity`	$626.14K	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`	$115.14K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.56M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$776.74K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueServicesNet`	$1.31M	USD	1 Quarter
Sales	`SalesRevenueServicesNet`	$3.45M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.25M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$64.09K	USD	1 Quarter
Gross profit	`GrossProfit`	$213.68K	USD	1 Quarter
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$81.19K	USD	1 Quarter
Stock based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$221.36K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$609.81K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-396.13K	USD	1 Quarter
(Loss) from operations	`OperatingIncomeLoss`	$-238.46K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$165.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.17K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$503.00	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$165.00	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$2.67K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-1.65M	USD	Annual
Net (loss)	`ProfitLoss`	$-393.46K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-238.30K	USD	1 Quarter
Basic - note 3	`WeightedAverageNumberOfSharesOutstandingBasic`	35.84M	shares	1 Quarter
Basic - note 3	`WeightedAverageNumberOfSharesOutstandingBasic`	32.66M	shares	1 Quarter
Diluted - note 3	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.66M	shares	1 Quarter
Diluted - note 3	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.84M	shares	1 Quarter
Basic - note 3	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic - note 3	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted - note 3	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted - note 3	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-1.65M	USD	Annual
Net (loss)	`ProfitLoss`	$-393.46K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-238.30K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$11.54K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$6.95K	USD	1 Quarter
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-231.35K	USD	1 Quarter
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-381.92K	USD	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.65M	USD	Annual
Net loss	`ProfitLoss`	$-393.46K	USD	1 Quarter
Net loss	`ProfitLoss`	$-238.30K	USD	1 Quarter
Depreciation	`Depreciation`	$9.51K	USD	1 Quarter
Depreciation	`Depreciation`	$12.68K	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	$81.19K	USD	1 Quarter
Share-based payment expense	`ShareBasedCompensation`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.04K	USD	1 Quarter
Reversal of provision previously recognized	`OtherNoncashExpense`	$-503.00	USD	1 Quarter
Reversal of provision previously recognized	`OtherNoncashExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$134.03K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$306.49K	USD	1 Quarter
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$-9.56K	USD	1 Quarter
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$368.25K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$65.07K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$55.61K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$591.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$169.62K	USD	1 Quarter
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-54.63K	USD	1 Quarter
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$21.64K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-118.91K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-599.97K	USD	1 Quarter
Merger of Surry with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	$-50.17K	USD	1 Quarter
Merger of Surry with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.17K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$10.88K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.55K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-593.42K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-57.86K	USD	1 Quarter
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$262.30K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$2.61M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$262.30K	USD	Point-in-time
Interest payments	`InterestPaid`	-	USD	1 Quarter
Interest payments	`InterestPaid`	-	USD	1 Quarter
Income tax payments	`IncomeTaxesPaid`	-	USD	1 Quarter
Income tax payments	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$776.74K	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 - note 9	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$55.17K	USD	Annual
Foreign currency translation adjustments - note 9	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$6.95K	USD	1 Quarter
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 6	`StockholdersEquityOther`	$312.41K	USD	Annual
Issuance of common stock for prepaid service - notes 5, 7	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Issuance of common stock for prepaid service - notes 5, 7 (Shares)	`StockIssuedDuringPeriodSharesOther`	0.00	shares	Annual
Record of common stock for prepaid service - note 7	`RecordOfCommonStockForPrepaidService`	$196.26K	USD	Annual
Record of common stock for prepaid service - note 7	`RecordOfCommonStockForPrepaidService`	$76.60K	USD	1 Quarter
Issuance of common stock for consultancy service - notes 5, 7	`StockIssuedDuringPeriodForConsultancyServiceValue`	$4.48K	USD	Annual
Issuance of common stock for consultancy service - notes 5, 7 (Shares)	`StockIssuedDuringPeriodForConsultancyServiceShares`	0.00	shares	Annual
Net loss	`ProfitLoss`	$-1.65M	USD	Annual
Net loss	`ProfitLoss`	$-393.46K	USD	1 Quarter
Net loss	`ProfitLoss`	$-238.30K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$931.49K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$776.74K	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.