10-K Filing

CEETOP INC. CIK: 1439254 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001213900-13-001831`
Period End Date	20121231
Filing Date	20130416
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	ctop-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 33 Cash Flow Statement 44 Stockholders Equity 17

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$178.72K	USD	Point-in-time
Allowances for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$1.08K	USD	Point-in-time
Depreciation expense	`Depreciation`	$42.31K	USD	Annual
Depreciation expense	`Depreciation`	$51.64K	USD	Annual
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.61K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Common Stock, par value (In dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	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
Accounts receivable, net of provision of $178,722 (2011 : $1,080)	`AccountsReceivableGrossCurrent`	$96.93K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts receivable, net of provision of $178,722 (2011 : $1,080)	`AccountsReceivableGrossCurrent`	$285.18K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.90M	shares	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$58.49K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.79M	shares	Point-in-time
Deposits and other receivables	`DepositsAssetsCurrent`	$172.51K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	32.28M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	16.79M	shares	Point-in-time
Inventories	`InventoryNet`	-	USD	Point-in-time
Inventories	`InventoryNet`	$194.34K	USD	Point-in-time
Prepayments	`PrepaidExpenseCurrent`	$6.50K	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
Prepayments	`PrepaidExpenseCurrent`	$4.63K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.21M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$535.80K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.56M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.56M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $42,310 (2011 : $51,638)	`PropertyPlantAndEquipmentNet`	$59.66K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $42,310 (2011 : $51,638)	`PropertyPlantAndEquipmentNet`	$17.83K	USD	Point-in-time
Total Assets	`Assets`	$1.27M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.56M	shares	Point-in-time
Total Assets	`Assets`	$553.63K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$338.28K	USD	Point-in-time
Accrued expenses and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$697.55K	USD	Point-in-time
Total Current and Total Liabilities	`Liabilities`	$697.55K	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, 16,790,631 and 32,281,063 shares issued and outstanding at December 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, 16,790,631 and 32,281,063 shares issued and outstanding at December 31, 2012 and December 31, 2011 respectively	`CommonStockValue`	$16.79K	USD	Point-in-time
Preferred stock, USD0.001 par value, Nil and 3,558,046 shares authorized, issued and outstanding	`PreferredStockValue`	$3.56K	USD	Point-in-time
Preferred stock, USD0.001 par value, Nil and 3,558,046 shares authorized, issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.84M	USD	Point-in-time
Common stock issued for prepaid service	`DeferredCompensationEquity`	$394.66K	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`	$53.02K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$116.58K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$108.19K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.33M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$1.98M	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$931.49K	USD	Point-in-time
Stockholders' Equity	`StockholdersEquity`	$-143.92K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.27M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$553.63K	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueServicesNet`	$12.86M	USD	Annual
Sales	`SalesRevenueServicesNet`	$4.77M	USD	Annual
Cost of sales	`CostOfRevenue`	$12.16M	USD	Annual
Cost of sales	`CostOfRevenue`	$4.88M	USD	Annual
Gross (loss)/profit	`GrossProfit`	$698.91K	USD	Annual
Gross (loss)/profit	`GrossProfit`	$-102.89K	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$200.76K	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$309.60K	USD	Annual
Stock based compensation	`AllocatedShareBasedCompensationExpense`	$720.00	USD	Point-in-time
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.16M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$984.91K	USD	Annual
(Loss) from operations	`OperatingIncomeLoss`	$-1.40M	USD	Annual
(Loss) from operations	`OperatingIncomeLoss`	$-1.66M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$4.01K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$7.70K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$7.70K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$4.01K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-1.65M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-1.39M	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.72M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.23M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.23M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.72M	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)	`NetIncomeLoss`	$-1.65M	USD	Annual
Net (loss)	`NetIncomeLoss`	$-1.39M	USD	Annual
Other comprehensive income Gain on foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$55.17K	USD	Annual
Other comprehensive income Gain on foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$8.39K	USD	Annual
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.60M	USD	Annual
Comprehensive (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.39M	USD	Annual

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.39M	USD	Annual
Depreciation	`Depreciation`	$42.31K	USD	Annual
Depreciation	`Depreciation`	$51.64K	USD	Annual
Share-based payment expense	`ShareBasedCompensation`	$200.76K	USD	Annual
Share-based payment expense	`ShareBasedCompensation`	$309.60K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$178.72K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.08K	USD	Annual
Reversal of provision previously recognized	`OtherNoncashExpense`	-	USD	Annual
Reversal of provision previously recognized	`OtherNoncashExpense`	$-503.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.20K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$366.98K	USD	Annual
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$115.89K	USD	Annual
Other receivable, deposits and prepayment	`IncreaseDecreaseInOtherReceivables`	$-119.70K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-194.34K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$29.70K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-989.56K	USD	Annual
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$359.26K	USD	Annual
Accrued expense and other payable	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$22.88K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.28M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-792.01K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	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 investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash generated from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$48.69K	USD	Annual
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	-	USD	Annual
Merge with China Ceetop	`PaymentsOfMergerRelatedCostsFinancingActivities`	$-50.17K	USD	Annual
Capital injection from shareholders	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Capital injection from shareholders	`ProceedsFromIssuanceOfCommonStock`	$312.41K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$362.58K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.91K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$48.31K	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-784.11K	USD	Annual
Net (decrease)/increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.82M	USD	Annual
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$71.61K	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$71.61K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$2.67M	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$855.71K	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.98M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$931.49K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-143.92K	USD	Point-in-time
Foreign currency translation adjustments - note 9)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.39K	USD	Annual
Foreign currency translation adjustments - note 9)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$55.17K	USD	Annual
Merge with China Ceetop - note 1	`StockIssuedDuringPeriodValueAcquisitions`	$40.17K	USD	Annual
Capital injection from a shareholder - note 6	`StockholdersEquityOther`	$312.41K	USD	Annual
Record of common stock for prepaid service - note 7	`AmortizationOfCommonStockForPrepaidService`	$308.08K	USD	Annual
Record of common stock for prepaid service - note 7	`AmortizationOfCommonStockForPrepaidService`	$196.26K	USD	Annual
Issuance of common stock for Legal adviser - notes 5, 7	`StockIssuedDuringPeriodValueForLegalAdviser`	$800.00	USD	Annual
Issuance of common stock for consultancy service - notes 5, 7	`StockIssuedDuringPeriodForConsultancyServiceValue`	$4.50K	USD	Annual
Issuance of common stock for consultancy service - notes 5, 7	`StockIssuedDuringPeriodForConsultancyServiceValue`	$720.00	USD	Annual
Net loss	`NetIncomeLoss`	$-1.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.39M	USD	Annual
Balance	`StockholdersEquity`	$1.98M	USD	Point-in-time
Balance	`StockholdersEquity`	$931.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$-143.92K	USD	Point-in-time

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