Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:    
Net loss $ (430,790) $ (3,106,230)
Expenses and service costs assumed by shareholders 46,850 769,378
Increase in accrued expenses 27,091 28,739
Increase in other payable 62,641   
Increase in other receivables (1,614) (718)
Net cash used in operating activities (295,822) (41,579)
Cash flows from financing activities:    
Proceeds from short term loan 79,282   
Amount due to director 49,767   
Proceeds from issuance of common stock 316,511 49,525
Net cash provided by financing activities 445,560 49,525
Effect of exchange rate changes on cash 1,613   
Net increase in cash 151,351 7,946
Cash, beginning of year 7,946   
Cash, ending of year $ 159,297 $ 7,946