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Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 | Apr. 05, 2019 | Jun. 29, 2018 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | China Bat Group, Inc. | ||
Entity Central Index Key | 0001556266 | ||
Trading Symbol | GLG | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Document Fiscal Period Focus | FY | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 26 | ||
Entity Common Stock, Shares Outstanding | 5,526,992 |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by China Commercial Credit Inc.
China Commercial Credit Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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We believe our future success depends on our ability to significantly increase revenues as well as maintain profitability from our operations.
As of December 31, 2018, the Company had cash balance of $1,484,116 and a positive working capital of $1,162,681.
As a result of net effects of discontinue of microcredit services and startup of used luxurious car business during the year ended December 31, 2018, net cash increased from US$1,359,630 as of December 31, 2017 to US$1,484,116 as of December 31, 2018.
The cash used in investing activities for the year ended December 31, 2018 was net effects of purchase of seven used luxurious cars of $2,117,477, a cash transfer out of $499,496 in connection with discontinued operation and net cash of $1,270,070 used in investing activities from discontinued operation netting off against proceeds of $500,000 from disposal of discontinued operations and proceeds of $121,752 from disposal of one used luxurious car in August 2018.
The decrease was mainly attributable to net effects of the increase of car expenses of $325,711, car maintenance expenses of $32,134 and impairment losses of $184, 645, all relating to the used luxurious car business, netting off against the decrease of legal and consulting expenses of $2,185,889, $2,842,380 of which was in relation to shares issued to executive officers and consultants for the efforts in the reverse acquisition with Sorghum.
An increase in depreciation expenses...Read more
In addition, the Company?s shareholders...Read more
For the year ended December...Read more
During the year ended December...Read more
An increase of $189,100 in...Read more
In addition to the change...Read more
Operating expenses primarily consisted of...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
China Commercial Credit Inc provided additional information to their SEC Filing as exhibits
Ticker: GLG
CIK: 1556266
Form Type: 10-K Annual Report
Accession Number: 0001213900-19-005814
Submitted to the SEC: Fri Apr 05 2019 4:32:32 AM EST
Accepted by the SEC: Fri Apr 05 2019
Period: Monday, December 31, 2018
Industry: National Commercial Banks