UNITED STATES  

SECURITIES AND EXCHANGE COMMISSION  

Washington, D.C. 20549

 

FORM 10-Q

 

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended December 31, 2017

 

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from __________ to _________

 

SEC File No. 333-179082

 

VELT INTERNATIONAL GROUP INC.

(Exact name of registrant as specified in its charter)

 

Nevada		100		27-5159463
(State or other jurisdiction of incorporation or organization)		(Primary Standard Industrial Classification Code Number)		(IRS I.D.)

 

 

1313 N Grand Ave. #16, Walnut, California		91789
(Address of principal executive offices)		(Zip Code)

 

Issuer’s telephone number: 626-262-7379

 

N/A

(Former name, former address and telephone number, if changed since last report)

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒    No ☐

 

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 ☐  No ☒

 

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”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller Reporting Company	☒
		Emerging growth company	☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐  No ☒

 

As of February 12, 2018, there were 37,731,495 shares issued and outstanding of the registrant’s common stock.

 

 

 

VELT INTERNATIONAL GROUP INC. AND SUBSIDIARY

 

(formerly A & C United Agriculture Developing Inc.)

 

Unaudited Condensed Consolidated Financial Statements 

 

For the three months ended December 31, 2017 and 2016

 

Table of Contents

 

Unaudited Condensed Consolidated Balance Sheets		2
Unaudited Condensed Consolidated Statements of Operations		3
Unaudited Condensed Consolidated Statements of Cash Flows		4
Notes to Condensed Consolidated Financial Statements		5

 

 

VELT INTERNATIONAL GROUP INC. AND SUBSIDIARY

 
(formerly A & C United Agriculture Developing Inc.)

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

		December 31,				September 30,
		2017				2017
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	22,478			$	50,515
Total Current Assets		$	22,478			$	50,515
TOTAL ASSETS		$	22,478			$	50,515
LIABILITIES AND STOOCKHOLDERS’ DEFICIT
Current liabilities:
Loan from shareholders		$	108,287			$	86,158
Unearned revenue			7,473				-
Accrued expenses liability			-				-
Total Current Liabilities		$	115,760			$	86,158
TOTAL LIABILITIES		$	115,760			$	86,158
Stockholders’ Deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized; 37,731,495 shares issued and outstanding as of December 31, 2017 and September 30, 2017		$	37,732			$	37,732
Additional paid-in capital			984,718				984,718
Accumulated deficit			(1,115,732	)			(1,058,093	)
Accumulated other comprehensive loss			-				-
TOTAL STOCKHOLDERS’ DEFICIT		$	(93,282	)		$	(35,643	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT		$	22,478			$	50,515

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

 

VELT INTERNATIONAL GROUP INC. AND SUBSIDIARY

 

(formerly A & C United Agriculture Developing Inc.)

 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

 

(Unaudited)

 

		For the Three Months Ended December 31,
		2017				2016
Revenues		$	-			$	550,319
Cost of goods sold			-				480,193
Gross profit			-				70,126
Operating expenses:
Research and development			-				605
Selling, general and administrative			57,639				66,269
Depreciation expenses			-				1,360
Total Operating Expenses			57,639				68,234
Income (Loss) from operations			(57,639	)			1,892
Other income (loss), net			-				12
Income (Loss) before income taxes			(57,639	)			1,904
Income tax expense			-				-
Net income (loss)		$	(57,639	)		$	1,904
Other comprehensive loss, net of tax:
Foreign currency translation adjustments			-				(822	)
Other comprehensive income (loss)			-				(822	)
Comprehensive Income (Loss)		$	(57,639	)		$	1,082
Weighted average shares, basic and diluted			37,731,495				37,731,495
Net loss per common share, basic and diluted		$	(0.00	)		$	0.00

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

  

VELT INTERNATIONAL GROUP INC. AND SUBSIDIARY

 

(formerly A & C United Agriculture Developing Inc.)

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

(Unaudited)

 

		For the Three Months Ended December 31,
		2017				2016
Operating Activities:
Net income (loss)		$	(57,639	)		$	1,904
Non-cash portion of share based consulting fee expense
Depreciation expenses			-				1,360
Inventory			-				359,318
Accounts receivable			-				6,867
Prepaid expenses			-				23,917
Customer deposits			-				(150,000	)
Accrued liability			-				(202	)
Unearned revenue			7,473				-
Account payable			-				(1,402	)
Credit card payable			-				12,679
Net cash provided by(used in) operating activities			(50,166	)			254,441
Financing Activities:
Loan from shareholders			22,129				-
Repayment to shareholder			-				(347	)
Net cash provided by (used in) financing activities			22,129				(347	)
Effect of Currency on Cash			-				(822	)
Net increase (decrease) in cash and cash equivalents			(28,037	)			253,272
Cash and cash equivalents at beginning of the period			50,515				114,508
Cash and cash equivalents at end of the period		$	22,478			$	367,780
SUPPLEMENTAL DISCLOSURE:
Interest Paid		$	-			$	-
Income Tax Paid		$	-			$	-

 

The accompanying notes are an integral part of these unaudited consolidated financial statements.

 

 

VELT INTERNATIONAL GROUP INC. AND SUBSIDIARY

 

(formerly A & C United Agriculture Developing Inc.)

 

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

(Unaudited)

 

NOTE 1 – ORGANIZATION AND BUSINESS DESCRIPTION

 

Velt International Group INC. (formerly A & C United Agriculture Developing Inc., or “Velt” or the “Company”) is a Nevada corporation formed on February 7, 2011. Our current principal executive office is located at 1313 N. Grand Ave. #16, Walnut, CA 91789. Tel: 626-262-7379. The Company’s common stock are currently traded on the Over the Counter Bulletin Board (“OTCQB”) under the symbol “VIGC”.

 

In addition to the U.S. operation, the Company established a subsidiary A & C Agriculture Developing (Europe) AB (“A&C Europe” or the “Subsidiary”) in Stockholm, Sweden on October 24, 2013, which is located at Gamla Sodertaljevagen 134A, 141 70 Segeltorp, Sweden. On August 5, 2017, the Company entered into a Stock Purchase Agreement (the “SPA”) to sell its equity interest in A & C Europe.

 

The Company has started to set up a completed and mature mobile application system (the “mobile app”) which supports third party payment function, online booking and other management functions. This mobile app allows users to get special discounts when the users purchase from merchants listed in the app via cash purchase, online payment systems such as Alipay, Wechat, paypal, visa, mastercard, UnionPay and so forth and will rely on big data management to create a large consumer base that will mostly connect with traditional retailers and some of the online stores.

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  

Basis of Presentation

 

The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s most recent Annual Financial Statements filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim period presented have been reflected herein. The results of operations for the interim period are not necessarily indicative of the results to be expected for the full year. Notes to the unaudited interim financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K, have been omitted. 

 

Use of Estimates

 

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect certain amounts reported in the financial statements and disclosures. Accordingly, actual results could differ from those estimates.

 

Concentration of Credit Risk

 

The Company maintains its cash in bank accounts which, at times, may exceed the federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash in bank.

 

 

Cash and Cash Equivalents

 

The Company considers all highly-liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2017 and September 30, 2017, the Company had cash in bank of $22,476 and $50,515, respectively.

 

Basic and Diluted Net Loss per Common Share

 

The Company computes per share amounts in accordance with ASC 260, Earnings per Share (EPS). ASC 260 requires presentation of basis and diluted EPS. Basic EPS is computed by dividing the income (loss) available to stockholders of common stock by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock outstanding during the periods.

 

The Company only issued one type of shares, i.e., common shares and does not have any potentially dilutive instrument as of December 31, 2017 and 2016.

 

Revenue Recognition

 

The Company recognizes revenue when it is realized or realizable and earned. The revenue from the product sales transaction shall be recognized at time of sale if the following conditions are met:

 

	●	The seller’s price to the buyer is substantially fixed or determinable at the date of sale.
	●	The buyer has paid the seller, or the buyer is obligated to pay the seller and the obligation is not contingent on resale of the product.
	●	The buyer’s obligation to the seller would not be changed in the event of theft or physical destruction or damage of the product.
	●	The buyer acquiring the product for resale has economic substance apart from that provided by the seller.
	●	The seller does not have significant obligations for future performance to directly bring about resale of the product by the buyer.
	●	The amount of future returns can be reasonably estimated.

 

Recent Accounting Pronouncements

 

Management believes that none of the recently issued accounting pronouncements will have a material impact on the financial statements. 

 

Contingencies

 

Certain conditions may exist as of the date the financial statements are issued, which could result in a loss to the Company which will be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities, and such assessment inherently involves judgment. In assessing loss contingencies arising from legal proceedings pending against the Company or unasserted claims that may rise from such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought.

 

If the assessment of a contingency indicates it is probable a material loss will be incurred and the amount of the loss can be reasonably estimated, then the estimated loss is accrued in the Company’s financial statements. If the assessment indicates a material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material would be disclosed.

 

 

Going Concern Assessment

 

Pursuant to ASC 205-40-50, The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business.

 

The Company demonstrates adverse conditions that raise substantial doubt about the Company’s ability to continue as a going concern. These adverse conditions are negative financial trends, specifically recurring operating losses, accumulated deficit and other adverse key financial ratios.

 

The Company did not generate revenues during the three months ended December 31, 2017. On June 19, 2017, the Company’s prior majority shareholders, Yidan (Andy) Liu and Jun (Charlie) Huang, transferred 22,640,000 of their common stock, representing about 60% of the total outstanding common shares of the Company, to Mr. Chin Kha Foo, the current President and sole director of the Company. The Company plans to loan from the new President to support the Company’s normal business operating. There is no assurance, however, that the Company will be successful in raising the needed capital and, if funding is available, that it will be available on terms acceptable to the Company.

 

The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that the Company cannot continue as a going concern.

 

NOTE 3 – RELATED PARTY TRANSACTIONS

  

Loans from Officers/Shareholders

 

For the three months ended December 31, 2017, the officers loaned $22,129, to the Company for operating expenses. For the three months ended December 31, 2016, the Company repaid loans to officers in the amount of $347. The outstanding balance as of December 31 and September 30, 2017 were $108,287 and $86,158 respectively, and bears no interest and due on demand.

 

NOTE 4 – UNEARNED REVENUE

 

The Company has unearned revenue in the amount of $7,473 as of December 31, 2017, which represented unearned software development revenue.

 

 

NOTE 5 – INCOME TAXES

 

The Company provides for income taxes under ASC 740 “Income Taxes”, ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax basis of assets and liabilities and the tax rates in effect when these differences are expected to reverse. It also requires the reduction of deferred tax assets by a valuation allowance if based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

 

The Company is subject to taxation in the United States. The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the period presented is offset by a valuation allowance. For the three months ended December 31, 2017, the Company has incurred a net loss of approximately $57,639. Net Operating Loss (“NOL”) carry forwards of approximately $1,115,732 will expire, if not utilized, through 2037. The deferred tax asset has been off-set by an equal valuation allowance.

 

		December 31, 2017				September 30, 2017
Deferred tax asset, generated from net operating loss at statutory rates (21%)		$	234,304			$	247,720
Valuation allowance			(234,304	)			(247,720	)
Net deferred tax asset		$	-			$	-

 

NOTE 6 – COMMITMENTS AND CONTINGENCIES

 

The Company has no commitment or contingency as of December 31, 2017.

 

NOTE 7 – SUBSEQUENT EVENTS

 

The Company has evaluated all other subsequent events through the date these consolidated financial statements were issued, and determined that there were no subsequent events or transactions that require recognition or disclosures in the consolidated financial statements.

 

 

Item 2. Management’s Discussion and Analysis or Plan of Operation

 

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information included in this Form 10-Q.

 

Our Management’s Discussion and Analysis contains not only statements that are historical facts, but also statements that are forward-looking. Forward-looking statements are, by their very nature, uncertain and risky. These risks and uncertainties include international, national, and local general economic and market conditions; our ability to sustain, manage, or forecast growth; our ability to successfully make and integrate acquisitions; new product development and introduction; existing government regulations and changes in, or the failure to comply with, government regulations; adverse publicity; competition; the loss of significant customers or suppliers; fluctuations and difficulty in forecasting operating results; change in business strategy or development plans; business disruptions; the ability to attract and retain qualified personnel; the ability to protect technology; the risk of foreign currency exchange rate; and other risks that might be detailed from time to time in our filings with the Securities and Exchange Commission.

 

Although the forward-looking statements in this Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.

 

Overview

 

Velt International Group Inc. (formerly A & C United Agriculture Developing Inc., or “Velt” or the “Company”) is a Nevada corporation formed on February 7, 2011. Our current principal executive office is located at 1313 N. Grand Ave. #16, Walnut, CA 91789. Tel: 626-262-7379.

 

On March 13, 2017, Yidan (Andy) Liu and Jun (Charlie) Huang, the principal stockholders of the Company (“Sellers”), entered into a Stock Purchase Agreement (the “Agreement”) with Chin Kha Foo, the assignee of Choa-Jung Lee, and his assigns (the “Buyers”), pursuant to which, among other things, Sellers agreed to sell to the Buyers, and the Buyers agreed to purchase from Sellers, a total of 24,000,000 shares of common stock of the Company of record and beneficially by Sellers (the “Purchased Shares”). The Purchased Shares represented approximately 64% of the Company’s issued and outstanding shares of common stock, resulting in a change of the control of the Company.

 

In addition to the U.S. operation, the Company established a subsidiary A & C Agriculture Developing (Europe) AB (“A&C Europe” or the “Subsidiary”) in Stockholm, Sweden on October 24, 2013, which is located at Gamla Sodertaljevagen 134A, 141 70 Segeltorp, Sweden. On August 5, 2017, the Company entered into a Stock Purchase Agreement (the “SPA”) to sell its equity interest in A & C Europe to its former officer. Although the sale was not arms-length, the Board believes the purchase price was reasonable and that it was at a price no less than it would receive from an independent third party.

 

Prior to the change of control, the Company’s long-term goal was focus on solving some of the major challenges in China, such as pollution and food safety issues for the general public, as well as raising funds to grow the business. The Company believes that the best solution is to integrate and manage all links along the food production chain – seeds, farming, processing.

 

The Company recently set up a completed and mature mobile app system which supports third party payment function, online booking and other management functions. This mobile app allows users to get special discounts when the users purchase from merchants listed in the app via cash purchase, online payment systems such as Alipay, Wechat, paypal, visa, mastercard, UnionPay and so forth.

 

The app will rely on big data management to create a large consumer base that will mostly connect with traditional retailers and some of the online stores. Although Internet consumption is very popular at present, it is still recognized that traditional offline businesses continues to have a very large market demand. This is because the traditional offline stores can directly bring visual senses to the customers, and stimulate customer desires as well as consumer confidences.

 

 

The Company will be also focus on other revenue generated businesses in the year of 2018 which could potentially increase the profits of the Company.

 

Current Operational Activities

 

On December 6, 2017, the Company entered into a Mobile Application Development and Maintenance Agreement (the “Mobile Agreement”), pursuant to which, the Company will develop and design a mobile application (the “App”) for a third party company in Hong Kong. Velt will develop the App’s interface and functions, including the App’s ability to book airline ticket, train ticket and taxi cabs, and to play online games, to facilitate payments for utilities and other services, and to facilitate shipping services and so forth.

 

We anticipate the App would be delivered to our customer before the end of February, 2018, and we will continue to develop our customer resources in Asia and U.S. markets.

 

 

Results of Operations

 

For the three months ended December 31, 2017 and 2016

 

Revenue

 

There was $0 and $550,319 revenue generated for the three months ended December 31, 2017 and 2016. The decrease was attributable to the intentions to expand other business lines due to the change of control of the Company and cease the Company’s seed business.

 

Cost of Goods Sold

 

There was $0 and $480,193 cost of goods sold incurred for the three months ended December 31, 2017 and 2016 respectively. The cost of goods sold decreased due to the decrease of overall sales.

 

Operating Expense 

 

Our expenses consist of selling, general and administrative expenses and depreciation expense as follows:

 

For the three months ended December 31, 2017 and 2016, there was a total of $57,639 and $68,234 operating expenses, respectively. The decrease was primarily due to the change of control, leading to limited operation activities started.

 

 

Net Loss

 

We incurred net income (loss) of $(57,639) and $1,904 for the three months ended December 31, 2017 and 2016.

 

Taxation

 

On December 22, 2017, the United States Congress and the Administration have approved a bill reforming the US corporate income tax code which will reduce corporate tax rate from 35% to 21%. The rate reduction would generally take effect on January 1, 2018. The carrying value of our deferred tax assets is also determined by the enacted US corporate income tax rate. Consequently, any changes in the US corporate income tax rate will impact the carrying value of our deferred tax assets. The net effect of the tax reform enactment on financial statements is $nil for the three months ended December 31, 2017.

 

Equity and Capital Resources

 

We have incurred losses for the three months ended December 31, 2017 and 2016, and had an accumulated deficit of $1,115,732 as of December 31, 2017. As of December 31, 2017, we had cash of $22,478 and a negative working capital of $93,282, compared to cash of $50,515 and a negative working capital of $35,643 at September 30, 2017. The decrease in the working capital was primarily due to decrease in revenue.

 

We had no material commitments for capital expenditures as of December 31, 2017. We expect our expenses will continue to increase during the foreseeable future as a result of increased operational expenses and the development of potential business opportunities. However, we do not anticipate that the Company will generate revenue sufficient to cover its planned operating expenses in the foreseeable future, and we are dependent on the proceeds from future debt or equity investments to sustain our operations and implement our business plan. If we are unable to raise sufficient capital, we will be required to delay or forego some portion of our business plan, which would have a material adversely effect on our anticipated results from operations and financial condition. There is no assurance that we will be able to obtain necessary amounts of additional capital or that our estimates of our capital requirements will prove to be accurate. As of the date of this Report we did not have any commitments from any source to provide such additional capital. Even if we are able to secure outside financing, it may not be available in the amounts or the times when we require. Furthermore, such financing would likely take the form of bank loans, private placement of debt or equity securities or some combination of these. The issuance of additional equity securities would dilute the stock ownership of current investors while incurring loans, leases or debt would increase our capital requirements and possible loss of valuable assets if such obligations were not repaid in accordance with their terms.

 

Off-Balance Sheet Arrangements 

 

We do not have any off-balance sheet arrangements that we are required to disclose pursuant to these regulations.

 

 

Item 3. Quantitative and Qualitative Disclosure about Market Risk

 

Not applicable.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

The Company has established disclosure controls and procedures to ensure that information required to be disclosed in this quarterly report on Form 10-Q was properly recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. The Company’s controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Act is accumulated and communicated to the Company’s management, including its principal executive and principal financial officer to allow timely decisions regarding required disclosure.

 

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) at December 31, 2017 based on the evaluation of these controls and procedures required by paragraph (b) of Rule 13a-15 or Rule 15d-15 under the Exchange Act. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer/Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer/Chief Financial Officer concluded that, at December 31, 2017, our disclosure controls and procedures were not effective.

 

Changes in Internal Control over Financial Reporting

 

There have been no changes in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

None.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceed.

 

None.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosure.

 

Not applicable.

 

Item 5. Other Information.

 

Not Applicable.

  

Item 6. Exhibits.

 

(a)

Exhibits.

 

Exhibit No.		Document Description
31.1		CERTIFICATION of CEO/CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
32.1 *		CERTIFICATION of CEO/CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEYACT OF 2002
Exhibit 101		Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.**
101.INS		XBRL Instance Document**
101.SCH		XBRL Taxonomy Extension Schema Document**
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document**
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document**
101.LAB		XBRL Taxonomy Extension Label Linkbase Document**
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document**

 

_______________ 

*	This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
**	XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

 

SIGNATURES

 

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.

 

Velt International Group Inc.,

a Nevada corporation

 

Title		Name		Date		Signature
Principal Executive Officer		Chin Kha Foo		February 12, 2018		/s/ Chin Kha Foo

 

In accordance with the Exchange Act, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

SIGNATURE		NAME		TITLE		DATE
/s/ Chin Kha Foo		Chin Kha Foo		Principal Executive Officer,		February 12, 2018
				Principal Financial Officer and Principal Accounting Officer

 

 

EXHIBIT INDEX

 

Exhibit No.		Document Description
31.1		CERTIFICATION of CEO/CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
32.1 *		CERTIFICATION of CEO/CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEYACT OF 2002
Exhibit 101		Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.**
101.INS		XBRL Instance Document**
101.SCH		XBRL Taxonomy Extension Schema Document**
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document**
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document**
101.LAB		XBRL Taxonomy Extension Label Linkbase Document**
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document**

 

___________ 

*	This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
**	XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

 

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