Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - YUS INTERNATIONAL GROUP Ltd | Financial_Report.xls |
| EX-31.1 - EXHIBIT 31.1 - YUS INTERNATIONAL GROUP Ltd | ex311.htm |
| EX-32.1 - EXHIBIT 32.1 - YUS INTERNATIONAL GROUP Ltd | ex321.htm |
| EX-32.2 - EXHIBIT 32.2 - YUS INTERNATIONAL GROUP Ltd | ex322.htm |
| EX-31.2 - EXHIBIT 31.2 - YUS INTERNATIONAL GROUP Ltd | ex312.htm |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
ooQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: September 30, 2012
oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to _____________
Commission File No.000-52020
|
ASIAN TRENDS MEDIA HOLDINGS, INC.
|
||||
|
( Exact name of small business issuer as specified in its charter)
|
||||
|
NEVADA
|
90-0201309
|
|||
|
(State or other jurisdiction of
|
(IRS Employer Identification No.)
|
|||
|
incorporation or organization)
|
||||
|
203 Hankow Center, 5-15 Hankow Road,
|
||
|
Tsimshatsui, Kowloon, Hong Kong
|
n/a
|
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
Registrant’s telephone number, including area code: 852-2192-4805
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 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.. Yeso No o
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 o No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer", "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
|
Large accelerated filer o
|
Non-accelerated filer o
|
|
Accelerated filer o (do not check if smaller reporting company)
|
Smaller reporting company o
|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No o
State the number of shares outstanding of each of the issuer’s classes of common equity, as of September 30, 2012, are as follows:
|
Class of Securities
|
Shares Outstanding
|
|
Common Stock, $0.001 par value
|
81,912,000 shares
|
PART I – FINANCIAL INFORMATION
ASIAN TRENDS MEDIA HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
|
September 30,
2012
(Unaudited)
|
December 31,
2011
(Audited)
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT ASSETS
|
||||||||
|
Accounts receivable
|
249 | 185 | ||||||
|
Total current assets
|
249 | 185 | ||||||
|
PROPERTY, PLANT & EQUIPMENT, NET
|
- | 19,821 | ||||||
|
TOTAL ASSETS
|
$ | 249 | $ | 20,006 | ||||
|
LIABILITIES AND EQUITY
|
||||||||
|
LIABILITIES
|
||||||||
|
CURRENT LIABILITIES
|
||||||||
|
Accounts payable
|
17,387 | 17,387 | ||||||
|
Accrued expenses and other payables
|
259,012 | 256,412 | ||||||
|
Advances from shareholders
|
17,654 | 17,654 | ||||||
|
Notes payable
|
129,064 | 127,967 | ||||||
|
Total current liabilities
|
423,117 | 419,420 | ||||||
|
TOTAL LIABILITIES
|
$ | 423,117 | $ | 419,420 | ||||
|
SHAREHOLDERS’ EQUITY
|
||||||||
|
Common stock, Par value $0.001, 225,000,000 shares authorized; $0.01 par value; 81,912,000 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively
|
81,912 | 81,912 | ||||||
|
Additional paid in capital
|
634,545 | 634,545 | ||||||
|
Accumulated deficits
|
(1,139,325 | ) | (1,115,871 | ) | ||||
|
TOTAL SHAREHOLDERS’ EQUITY
|
(422,868 | ) | (399,414 | ) | ||||
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
$ | 249 | $ | 20,006 | ||||
See accompanying notes to the condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (UNAUDITED)
|
Three months ended
September 30,
|
Nine months ended
September 30,
|
|||||||||||||||
|
2012
|
2011
|
2012
|
2011
|
|||||||||||||
|
CONTINUING OPERATIONS
|
||||||||||||||||
|
REVENUES
|
$ | 13 | 31 | $ | 64 | 185 | ||||||||||
|
COST OF SALES
|
- | - | - | - | ||||||||||||
|
GROSS PROFIT
|
13 | 31 | 64 | 185 | ||||||||||||
|
EXPENSES
|
||||||||||||||||
|
General and administrative (inclusive of depreciation)
|
1,300 | 21,409 | 3,697 | 42,070 | ||||||||||||
|
Impairment of property, plant and equipment
|
- | - | 19,821 | - | ||||||||||||
|
TOTAL OPERATING EXPENSES
|
1,300 | 21,409 | 23,518 | 42,070 | ||||||||||||
|
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES
|
(1,287 | ) | (21,378 | ) | (23,454 | ) | (41,885 | ) | ||||||||
|
PROVISION FOR INCOME TAXES
|
- | - | - | - | ||||||||||||
|
NET LOSS FROM CONTINUING OPERATIONS
|
$ | (1,287 | ) | (21,378 | ) | $ | (23,454 | ) | (41,885 | ) | ||||||
|
DISCONTINUED OPERATIONS
|
||||||||||||||||
|
Net income
|
- | - | - | 49,955 | ||||||||||||
|
Gain on disposal of discontinued operations
|
- | - | - | 115,468 | ||||||||||||
|
NET INCOME FROM DISCONTINUED OPERATIONS
|
$ | - | - | $ | - | 165,423 | ||||||||||
|
NET (LOSS) / INCOME FOR THE PERIOD
|
$ | (1,287 | ) | (21,378 | ) | $ | (23,454 | ) | 123,538 | |||||||
|
OTHER COMPREHENSIVE INCOME
|
- | - | - | - | ||||||||||||
|
TOTAL COMPREHENSIVE (LOSS) / INCOME FOR THE PERIOD
|
$ | (1,287 | ) | (21,378 | ) | $ | (23,454 | ) | 123,538 | |||||||
|
LOSS PER SHARE, BASIC AND DILUTED – CONTINUING OPERATIONS
|
$ | (0.00 | ) | (0.00 | ) | $ | (0.00 | ) | 0.00 | |||||||
|
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED
|
81,912,000 | 81,912,000 | 81,912,000 | 78,260,474 | ||||||||||||
See accompanying notes to the condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)
|
For the nine months ended September 30,
|
||||||||
|
2012
|
2011
|
|||||||
|
Cash flows from operating activities
|
||||||||
|
Net loss from continuing operations
|
$ | (23,454 | ) | $ | (41,885 | ) | ||
|
Depreciation
|
- | 9,834 | ||||||
|
Impairment of property, plant and equipment
|
19,821 | - | ||||||
|
Changes in operating assets and liabilities:
|
||||||||
|
Increase in accounts receivable
|
(64 | ) | (185 | ) | ||||
|
Decrease in prepaid expenses and other receivables
|
- | 18,955 | ||||||
|
Increase in accrued expenses and other payables
|
2,600 | 891 | ||||||
|
Net cash used in continuing operating activities
|
(1,097 | ) | (12,390 | ) | ||||
|
Net cash provided by discontinued operating activities
|
- | 32,901 | ||||||
|
Net cash (used in) / provided by operating activities
|
(1,097 | ) | 20,511 | |||||
|
Cash flows from investing activities
|
||||||||
|
Net cash used in continuing investing activities
|
- | - | ||||||
|
Net cash used in discontinued investing activities
|
- | (188,817 | ) | |||||
|
Net cash used in investing activities
|
- | (188,817 | ) | |||||
|
Cash flows from financing activities
|
||||||||
|
Increase in advance from a shareholder
|
1,097 | (77,596 | ) | |||||
|
Net cash provided by / (used in) continuing financing activities
|
1,097 | (77,596 | ) | |||||
|
Net cash provided by discontinued financing activities
|
- | - | ||||||
|
Net cash provided by / (used in) financing activities
|
1,097 | (77,596 | ) | |||||
|
Net (decrease) /increase in cash and cash equivalents
|
||||||||
|
Continuing operations
|
- | (89,986 | ) | |||||
|
Discontinued operations
|
- | (155,916 | ) | |||||
| - | (245,902 | ) | ||||||
|
Cash and cash equivalents at beginning of period
|
||||||||
|
Continuing operations
|
- | 89,986 | ||||||
|
Discontinued operations
|
- | 155,916 | ||||||
| - | 245,902 | |||||||
|
Cash and cash equivalents at end of period
|
||||||||
|
Continuing operations
|
- | - | ||||||
|
Discontinued operations
|
- | - | ||||||
| $ | - | $ | - | |||||
|
Non cash financing activities:
|
||||||||
|
Forfeiture of common stocks in disposal of subsidiaries
|
$ | - | $ | 22,147 | ||||
|
Cancellation of shares
|
- | 256,412 | ||||||
See accompanying notes to the condensed consolidated financial statements
ASIAN TRENDS MEDIA HOLDINGS, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES
The Company was incorporated under the laws of the State of Delaware.
At the beginning of 2010, The Company was principally engaged in operating liquid crystal display (“LCD”) flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On August 31, 2010 the Company closed an Agreement for a Share Exchange with Global Mania Empire Management Limited (“GME”) to acquire 100% ownership of GME from its shareholders. GME is a Hong Kong company that specializes in project and artist management.
On January 21, 2011, the Company entered into an Asset Sale, Purchase and Transfer Agreement (the "Sale Agreement") with the collective former shareholders of GME, namely Kwong Kwan Yin Roy, Dragon Billion International Limited, and Wong Wing Fung Charlie, each an individual resident of Hong Kong (collectively referred to as “Buyers").
According to the terms of the Sale Agreement, the Registrant sold its subsidiary Asian Trends Broadcasting Inc. (“ATBI”), a British Virgin Islands company and its subsidiaries GME, Great China Media Limited (“GCM”), a Hong Kong company, and Great China Game Limited (“GCG”), a Hong Kong company, to the Buyers. The consideration for the transaction shall consist of the return by the Buyers and surrender to the Registrant of a total of 22,147,810 shares of the Registrant’s common stock.
The project and artist management are reported as discontinued operations. The comparative amounts in consolidated statements of income and consolidated statements of cash flows that attributable to the discontinued operations are reclassified to conform to current year’s presentation.
The Company assigned the LCD flat-panel televisions and LCD billboards advertisement operations to Great China Media Limited (the “Assignee”), and in return the Assignee shall pay 5% of the gross proceeds from the business to the Company. Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.
NOTE 2 – BASIS OF PRESENTATION
The unaudited interim financial statements of the Company and the Company’s subsidiaries for the three months and nine months ended September 30, 2012 and 2011 have been prepared pursuant to the rules & regulations of the SEC. Certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the following disclosures are adequate to make the information presented not misleading. All significant intercompany balances and transactions have been eliminated. The functional currency for the majority of the Company’s operations is the Hong Kong dollar (“HKD”), while the reporting currency is the US Dollar.
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates.
In the opinion of the management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position as of September 30, 2012, results of operations and cash flows for the three months and nine months ended September 30, 2012 have been made. The results of operations for the nine months ended September 30, 2012 are not necessarily indicative of the operating results for the full year.
NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
(a)
|
Economic and Political Risk
|
The Company’s major operations are conducted in Hong Kong. Accordingly, the political, economic, and legal environments in Hong Kong, as well as the general state of Hong Kong’s economy may influence the Company’s business, financial condition, and results of operations.
The Company’s major operations in Hong Kong are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic, and legal environment. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, and rates and methods of taxation, among other things.
|
(b)
|
Cash and Cash Equivalents
|
The Company considers all highly liquid investments purchased with original maturities of six months or less to be cash equivalents. The Company maintains bank accounts in Hong Kong through its wholly-owned subsidiary.
|
(c)
|
Fair Value of Financial Instruments
|
The carrying amounts of financial instruments such as cash and accounts payable approximate their fair value because of the short maturities of these instruments. The fair value of receivables from associated companies and payables to associated companies are not practical to estimate based upon the related party nature of the underlying transactions.
|
(d)
|
Revenue Recognition
|
For continuing operations, the Company is principally engaged in operating LCD flat-panel televisions and LCD billboards that advertise throughout Hong Kong and create revenue by selling advertising airtime. On December 15, 2010, the Company assigned the operations to the assignee, and in return the assignee shall pay 5% of the gross proceeds from the business to the Company.
Revenue is recognized in arrears on a quarterly basis and when collectability is reasonably assured.
|
(e)
|
Earnings Per Share
|
Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of the balance sheet dates, there were no dilutive securities outstanding.
|
(f)
|
Foreign Currency Translation
|
The accompanying condensed consolidated financial statements are presented in United States dollars. The functional currency of the Company is Hong Kong Dollar (“HK$”). Capital accounts of the consolidated financial statements are translated into United States dollars (“US$”) from Hong Kong dollars (“HK$”) at their historical exchange rates when the capital transactions occurred. Assets and liabilities are translated at the exchange rates as of the balance sheet date. Income and expenditures are translated at the average exchange rate during the period. The translation rates are as follows:
|
September 30,
2012
|
December 31, 2011
|
September 30,
2011
|
||||||||||
|
Period/year end HK$ : US$ exchange rate
|
0.1282
|
0.1282
|
0.1282
|
|||||||||
|
Average yearly HK$ : US$ exchange rate
|
0.1282
|
0.1282
|
0.1282
|
|||||||||
|
(g)
|
Recent Accounting Pronouncements
|
The Company has adopted all recently issued accounting pronouncements. The adoption of these accounting pronouncements including those not yet in effect, is not anticipated to have a material effect on the financial statements of the Company.
NOTE 4 – PROPERTY AND EQUIPMENT
Property, plant and equipment of the Company consist primarily of computer and display equipment owned and operated by the Company. Property, plant and equipment as of September 30, 2012 and December 31, 2011 are summarized as follows:
|
September 30, 2012
|
December 31, 2011
|
|||||||
|
(Unaudited)
|
(Audited)
|
|||||||
|
At cost:
|
||||||||
|
Computer equipment
|
$
|
-
|
$
|
13,147
|
||||
|
Leasehold improvement
|
-
|
47,533
|
||||||
|
Office equipment
|
-
|
30,133
|
||||||
|
Furniture
|
-
|
11,632
|
||||||
|
Site display system
|
-
|
10,640
|
||||||
|
-
|
113,085
|
|||||||
|
Less: Accumulated depreciation
|
-
|
(93,264
|
)
|
|||||
|
Property, plant and equipment, net
|
-
|
19,821
|
||||||
Depreciation expenses for the nine months ended September 30, 2012 and 2011 were analyzed as follows:
|
Nine months ended
September 30, 2012
|
Nine months ended
September 30, 2011
|
|||||||
|
Attributable to continuing operations
|
$ | - | $ | 9,834 | ||||
|
Attributable to discontinued operations
|
- | - | ||||||
| - | 9,834 | |||||||
NOTE 5 – ADVANCE FROM SHAREHOLDERS
The advances from shareholders are unsecured, interest free and have no fixed terms of repayment.
NOTE 6 – GOING CONCERN
The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, the Company has an accumulated deficit of $1,139,325 and a working capital deficit of $422,868.
The Company may need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may dependent upon the continuing financial support of investors, directors and/or stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.
|
Item 2.
|
Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
Results of Operations – Three Months Ended September 30, 2012 as Compared to Three Months Ended September 30, 2011.
The following table summarizes the results of our operations during the three-month period ended September 30, 2012 and 2011.
|
Three months ended September 30,
|
Increase /(decrease)
|
% Increase /(decrease)
|
||||||||||||||
|
2012
|
2011
|
|||||||||||||||
|
Revenue
|
$
|
13
|
$
|
31
|
$
|
(18
|
)
|
(58.06
|
%)
|
|||||||
|
Cost of sales
|
-
|
-
|
-
|
N/A
|
||||||||||||
|
Gross profit
|
13
|
31
|
(18
|
)
|
(58.06
|
%)
|
||||||||||
|
General & administrative
|
1,300
|
21,409
|
(20,109
|
)
|
(93.93
|
%)
|
||||||||||
|
Net Loss from operations
|
(1,287
|
)
|
(21,378
|
)
|
20,091
|
93.98
|
%
|
|||||||||
|
Provision for taxation
|
-
|
-
|
-
|
N/A
|
||||||||||||
|
Net loss
|
(1,287
|
)
|
(21,378
|
)
|
20,091
|
93.98
|
%
|
|||||||||
General and administrative expenses
General and administrative expenses decreased from $21,409 in the three months of 2011 to $1,300 for the same period of 2012, representing a decrease of $20,109 or 93.93%.
Net income
Net loss for the three months ended September 30 of 2012 was $1,287 as compared to net loss for the same period in 2011 of $21,378.
Results of Operations – Nine months ended September 30, 2012 as compared to nine months ended September 30, 2011.
The following table summarizes the results of our operations during the three-month period ended September 30, 2012 and 2011.
|
Nine months ended September 30,
|
||||||||||||||||
|
2012
|
2011
|
Increase /(decrease)
|
% Increase /(decrease)
|
|||||||||||||
|
Revenue
|
$ | 64 | $ | 185 | $ | (121 | ) | (65.41 | %) | |||||||
|
Cost of sales
|
- | - | - | N/A | ||||||||||||
|
Gross profit
|
64 | 185 | (121 | ) | (65.41 | %) | ||||||||||
|
General & administrative
|
23,518 | 42,070 | (18,552 | ) | (44.10 | %) | ||||||||||
|
Net Loss from operations
|
(23,454 | ) | (41,885 | (18,431 | ) | (44.00 | %) | |||||||||
|
Net Income from disposal of discontinued operations
|
- | 165,423 | (165,423 | ) | N/A | |||||||||||
|
Provision for taxation
|
- | - | N/A | |||||||||||||
|
Net loss
|
(23,454 | ) | 123,538 | (146,992 | ) | N/A | ||||||||||
General and administrative expenses decreased from $41,885 in the nine months of 2011 to $23,454 for the same period of 2012, representing an increase of $18,431 or 44.00%.
Net income
Net loss for the nine months ended September 30, 2012 was $23,454 as compared to net income for the same period in 2011 of $123,538.
Liquidity and Capital Resources from operations
Cash
Our cash balance at September 30, 2012 was $0, compared with our cash balance of $0 as at September 30, 2011. The cash balances remain stable compared with the same period in 2011.
Operating Activities
Net cash used in operating activities during the nine months ended September 30 of 2012 amounted to $1,097 comparing net cash used in operating activities of $89,986 in the same period of 2011.
Working capital
Our net current liabilities increased by $66,483 to $422,868 at September 30, 2012 from $356,385 at September 30, 2011.
The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, the Company has an accumulated deficit of $1,139,325 and a working capital deficit of $422,868.
The Company may need additional cash resources to operate during the upcoming 12 months, and the continuation of the Company may dependent upon the continuing financial support of investors, directors and/or stockholders of the Company. The Company intends to attempt to acquire additional operating capital through private equity offerings to the public and existing investors to fund its business plan. However, there is no assurance that equity or debt offerings will be successful in raising sufficient funds to assure the eventual profitability of the Company. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
There have been no material changes in market risk since the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.
ITEM 4. CONTROLS AND PROCEDURES
Evaluation of disclosure controls and procedures
Our management, including our Chief Executive Officer and Chief Financial Officer, has concluded that our disclosure controls and procedures are appropriate and effective. They have evaluated these controls and procedures as of the date of this report on Form 10-Q. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Our management believes that our disclosure controls and procedures and internal control over financial reporting are designed to provide reasonable assurance of achieving their objectives and are effective at the reasonable assurance level. However, our management does not expect that our disclosure controls and procedures or our internal control over financial reporting will prevent all errors and all fraud. 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. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people or by management override of the controls. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost effective control system, misstatements due to error or fraud may occur and not be detected.
The Company’s management confirm that there was no change in the Company’s internal control over financial reporting during the quarter ended September 30, 2012 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
There is no pending litigation by or against us.
None
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None
ITEM 4. [REMOVED AND RESERVED]
None.
None
Exhibits
|
Exhibit
Number
|
Description
|
|
|
31.1
|
Certification of Chief Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
31.2
|
Certification of Chief Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
32.1
|
Certification of Chief Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
32.2
|
Certification of Chief Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
ASIAN TRENDS MEDIA HOLDINGS, INC.
|
||
|
Dated: November 14, 2012
|
By:
|
/s/ ZHI JIAN ZENG
|
|
Zhi Jian Zeng
|
||
|
Chief Executive Officer
|
||
|
Dated: November 14, 2012
|
By:
|
/s/ HUANG JIAN NAN
|
|
Huang Jian Nan
|
||
|
Chief Financial Officer
|
10