Attached files
| file | filename |
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| EX-31 - Sino-American Net Media Corp | e31.htm |
| EX-32 - Sino-American Net Media Corp | e32.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-K
[X] Annually Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the period ended: December 31, 2012.
[ ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from to
Commission File Number: 000-53682
SINO-AMERICAN NET MEDIA CORP.
__________________________________________________
(Exact name of Small Business Issuer as specified in its charter)
Delaware To be applied
-------------------------------- ----------------------------------
(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
227 West Valley Blvd., #298-C, San Gabriel, CA 91776 48331
(Address of principal executive offices) (Postal or Zip Code)
Issuer's telephone number, including area code: 626-807-2198; Fax: 626-279-1271
Securities registered pursuant to Section 12(b) of the Exchange Act: None
Securities registered pursuant to Section 12(g) of the Exchange Act: Common Stock, par value $.001 per share
Indicated by check whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 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. Yes [ x ] No [ ]
Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Yes [x] 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” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ](Do not Small reporting company [x]
check if smaller reporting company)
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [x] No [ ]
The issuer's revenues for the its most recent fiscal year: $0
State the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 31,340,000 shares of common stock with par value of $0.0001 per share outstanding as of April 15, 2013.
Documents Incorporated By Reference: See Part IV Item 15.
TABLE OF CONTENTS
TO ANNUAL REPORT ON FORM 10-K
FOR YEAR ENDED DECEMBER 31, 2012
Page
PART I
Item 1. Description of Business --------------------------------- 4
Item 1A. Risk Factors ------------------------------------------- 5
Item 1B. Unresolved Staff Comments ------------------------------ 5
Item 2. Description of Property --------------------------------- 5
Item 3. Legal Proceedings --------------------------------------- 5
Item 4. Submission of Matters to a Vote of Security Holders ----- 5
PART II
Item 5. Market for Registrant’s Common Equity and
related Stockholder Matters ------------------------------- 5
Item 6. Selected Financial Data --------------------------------- 6
Item 7. Management’s Discussion and Analysis or Plan
of Operation ---------------------------------------------- 6
Item 7A. Quantitative and Qualitative Disclosures About
Market Risk ----------------------------------------------- 9
Item 8. Financial Statements ------------------------------------ 9
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosures --------------------- 18
Item 9A. Controls and Procedures ------------------------------- 18
PART III
Item 10. Directors, Executive Officers of the Registrant ------- 18
Item 11. Executive Compensation ---------------------------------19
Item 12. Security Ownership of Certain Beneficial
Ownership Management ------------------------------------- 19
Item 13. Certain Relationships and Related Transactions -------- 19
Item 14. Principal Accountant Fees and Services ---------------- 19
Part IV
Item 15. Exhibits ---------------------------------------------- 20
Signatures ----------------------------------------------------- 20
FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K contains forward-looking statements. The forward-looking statements are based on our current goals, plans, expectations, assumptions, estimates and predictions regarding the Company.
When used in this Annual Report, the words "plan", "believes," "continues," "expects," "anticipates," "estimates," "intends", "should," "would," "could," or "may," and similar expressions are intended to identify forward looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or growths to be materially different from any future results, events or growths expressed or implied in this Annual Report.
PART I
Item 1: Description of Business:
Sino-American Net Media Corp (the "Company", “Sino-American”) was incorporated under the laws of the State of Delaware on February 9, 2010 under the name of "Empire Asia Resources Corp.", and was changed into the Sino-American INVESTMENT HOLDINGS INC on August 13, 2010, and changed into the current name on May 19, 2011. The Company has been inactive since inception. The Company intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business.
Item 1A. Risk Factors
N/A
Item 1B. Unresolved Staff Comments
None.
Item 2. Description of Property:
The Company does not own or lease offices or property of any kind. Mr. Fang supplies the Company with office space and office equipment on rent-free.
Item 3. Legal Proceedings:
None.
Item 4. Submission of Matters to a Vote of Security Holders:
In the fiscal year ended December 31, 2012, no any matter was submitted to the Company's shareholders for a vote.
PART II
Item 5. Market for Registrant’s Common Equity and related Stockholder Matters.
a. Market Information.
None.
b. Dividends.
We have not declared any dividends yet.
Item 6. Selected Financial Data
Financial Highlights
_($)_____________________________________________________________________
Fiscal Year Ended December 31, 2012 2011
Revenue 0 0
Income (Loss) from Operation 0 0
Net Income (Loss) 0 0
Cash & Cash Equivalents 0 0
Liabilities 0 0
Shareholder Equities 0 0
_________________________________________________________________________
Item 7. Management’s Discussion and Analysis or Plan of Operation:
Sino-American was organized on February 9, 2009, as a blank check or shell company under the Laws of the State of Delaware. The Company does not currently engage in any business activities that provide cash flow. From inception, the primary activity of the Company has been directed towards organizational efforts, compliance matters and locating potential merger or acquisition candidates.
The Company has registered its Common Stock on a Form 10 registration statement filed pursuant to the Securities Exchange Act of 1934 (the Exchange Act) and Rule 12(g) thereof. The Company files with the U.S. Securities and Exchange Commission periodic reports under Rule 13(a) of the Exchange Act, including quarterly reports on Form 10-Q and annual reports on Form 10-K.
The Company was formed to engage in a merger with or acquisition of an unidentified private company, which desires to become a reporting (public) company whose securities are qualified for trading in the United States secondary market. The Company meets the definition of a blank check company contained in Section 7(b)(3) of the Securities Act of 1933, as amended.
The Company believes that there are perceived benefits to being a reporting company with a class of publicly-traded securities which may be attractive to foreign and domestic private companies.
These benefits are commonly thought to include:
1. the ability to use registered shares to make acquisition of assets or businesses;
2. increased visibility in the financial community;
3. the facilitation of borrowing from financial institutions;
4. improved trading efficiency;
5. shareholder liquidity;
6. greater ease in subsequently raising capital;
7. compensation of key employees through options for stock for which there is a public market;
8. enhanced corporate image; and,
9. a presence in the United States capital market.
A private company, which may be interested in a business combination with the Company, may include the following:
1. a company for which a primary purpose of becoming public is the use of its securities for the acquisition of assets or businesses;
2. a company which is unable to find an underwriter of its securities or is unable to find an underwriter of securities on terms acceptable to it;
3. a company which wishes to become public with less dilution of its Common Stock than would occur normally upon an underwriting;
4. a company which believes that it will be able to obtain investment capital on more favorable terms after it has become public;
5. a foreign company which may wish an initial entry into the United States securities market;
6. a special situation company, such as a company seeking a public market to satisfy redemption requirements under a qualified Employee Stock Option Plan; and,
7. a company seeking one or more of the other benefits believed to attach to a public company.
The Company is authorized to enter into a definitive agreement with a wide variety of private businesses without limitation as to their industry or revenues. It is not possible at this time to predict with which private company, if any, the Company will enter into a definitive agreement or what will be the industry, operating history, revenues, future prospects or other characteristics of that company.
As of the date hereof, management of the Company has not made any final decision for a business combination with any private corporations, partnerships or sole proprietorships. When any such agreement is reached or other material fact occurs, the Company will file notice of such agreement or fact with the U.S. Securities and Exchange Commission on Form 8-K. Persons reading this Financial Statement are advised to see if the Company has subsequently filed a Form 8-K.
There is presently no trading market for the Company's common stock and no market may ever exist for the Company's common stock. The Company plans to apply for a corporate CUSIP # for its common stock and to assist broker-dealers in complying with Rule 15c2-11 of the Securities Exchange Act of 1934, as amended, so that such brokers can quote the price of the Company's common stock in the Over-The-Counter Bulletin Board (the "OTC Bulletin Board" or “OTCBB”) after the Company is no longer classified as a "blank check" or shell company, as defined by the U.S. Securities and Exchange Commission. There can be no assurance to investors that any broker-dealer will actually file the materials required in order for such OTC Bulletin Board trading to proceed.
The U.S. Securities and Exchange Commission has adopted a rule (Rule 419) which defines a blank-check company as (i) a development stage company, that is (ii) offering penny stock, as defined by Rule 3a51-1, and (iii) that has no specific business plan or purpose or has indicated that its business plan is engage in a merger or acquisition with an unidentified company or companies.
BUSINESS COMBINATION
The Company will attempt to locate and negotiate with a business entity for the combination of that target company with the Company. The combination will normally take the form of a merger, stock-for-stock exchange or stock-for-assets exchange (the "business combination"). In most instances the target company will wish to structure the business combination to be within the definition of a tax-free reorganization under Section 351 or Section 368 of the Internal Revenue Code of 1986, as amended. No assurances can be given that the Company will be successful in locating or negotiating with any target business.
The Company has not restricted its search for any specific kind of businesses, and it may acquire a business, which is in its preliminary or development stage, which is already in operation, or in essentially any stage of its business life. It is impossible to predict the status of any business in which the Company may become engaged, in that such business may need to seek additional capital, may desire to have its shares publicly traded, or may seek other perceived advantages which the Company may offer.
In implementing a structure for a particular business acquisition, the Company may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another corporation or entity.
It is anticipated that any securities issued in any such business combination would be issued in reliance upon exemption from registration under applicable federal and state securities laws. In some circumstances, however, as a negotiated element of its transaction, the Company may agree to register all or a part of such securities immediately after the transaction is consummated or at specified times thereafter. If such registration occurs, it will be undertaken by the surviving entity after the Company has entered into an agreement for a business combination or has consummated a business combination. The issuance of additional securities and their potential sale into any trading market which may develop in the Company's securities may depress the market value of the Company's securities in the future if such a market develops, of which there is no assurance.
The Company will participate in a business combination only after the negotiation and execution of appropriate agreements. Negotiations with a target company will likely focus on the percentage of the combined Company's shares, which the target company shareholders would acquire in exchange for their shareholdings.
Although the terms of such agreements cannot be predicted, generally such agreements will require certain representations and warranties of the parties thereto, will specify certain events of default, will detail the terms of closing and the conditions which must be satisfied by the parties prior to and after such closing and will include miscellaneous other terms. Any merger or acquisition effected by the Company can be expected to have a significant dilution effect on the percentage of shares held by the Company's shareholders at such time.
OPERATIONAL RESULTS
The Company has no current operating history and does not have any revenues or earnings from operations. The Company has no assets or financial resources. We will, in all likelihood, sustain operating expenses without corresponding revenues, at least until the consummation of a business combination. This may result in the Company incurring a net operating loss that will increase continuously until the Company can consummate a business combination with a profitable business opportunity. There is no assurance that we can identify such a business opportunity and consummate such a business combination.
LIQUIDITY AND CAPITAL RESOURCES
On December 31, 2012, the Company had no cash and no other assets. We are dependent upon our officers to meet any minimum costs that may occur. Mr. Zhong Fang, President of the Company, has agreed to provide the necessary funds, without interest, for the Company to comply with the Securities Exchange Act of 1934, as amended; provided that he is President of the Company when the obligation is incurred. All advances are interest-free.
Off-Balance Sheet Arrangements:
None.
Item 7A. Quantitative And Qualitative Disclosure About market Risk
None.
Item 8. Financial Statements
Financial Statements: Balance Sheet, Statement of Operations, Statement of Stockholder's Equity, Statement of Cash Flows, and Notes to Financial Statements.
The Company is an inactive entity as defined by Section 3-11 of Regulation S-X. Accordingly, the financial statements required for purposes of reports pursuant to the Securities Exchange Act of 1934 are unaudited.
_______________________________________________________________________________________________
Financial Statements
( this space intended left as blank)
Sino-American Net Media Corp
Balance Sheet
As of December 31, 2012 and December 31, 2011
| 12/31/2012 | 012/31/2011 | |||||
| Cash | $ | $ | ||||
| Total Current Asset | $ | $ | ||||
| Investment | $ - | $ - | ||||
| Property | $ - | |||||
| Intangible Assets | $ - | |||||
| Total Assets | $ 0 | $ 0 | ||||
| Liability and Shareholders equity | ||||||
| Current Liability | ||||||
| Accounts payable | ||||||
| Total Liabilities | $ 0 | $ 0 | ||||
|
Shareholders' Equity Preferred stock ( $.0001 par value 20,000,000 shares authorized, none o/s) |
||||||
| Common shares w/ Par value $0.0001 | ||||||
| 250,000,000 shares authorized 31,340,000 o/s | $ 3,134 | $ 3,134 | ||||
| Earning (Deficit) accumulated | $ (3,134) | $ (3,134) | ||||
| Total Shareholders' Equity | $ 0 | $ 0 | ||||
| Total Liabilities and Shareholders' Equity | $ 0 | $ 0 | ||||
|
Sino-American Net Media Corp Statements of Income (Loss) For Years Ended December 31, 2012 and 2011 |
||||||||
| Year | Year | From Inception | ||||||
| ended on | ended on | (2/9/2009) to | ||||||
| 12/31/2012 | 12/31/2011 | 12/31/2012 | ||||||
| Revenue | $ - | $ - | $ - | |||||
| Gross Profits | $ - | $ - | $ - | |||||
| Operating Expenses | ||||||||
| Selling expenses | $ - | $ - | $ - | |||||
| General and administrative expenses | $ - | $ - | $ 3,134 | |||||
| Total Operating Expenses | $ - | $ - | $ (3,134) | |||||
| Income (loss) from Operation | $ - | $ - | $ - | |||||
| Other income (expenses) | $ - | |||||||
| Interests income (expenses) | $ - | $ - | $ - | |||||
| Provision for income tax | $ - | $ - | $ - | |||||
| Net income (loss) | $ - | $ - | $ - | |||||
| Earning per share (EPS) | ||||||||
| Basic and diluted net earnings per share | ||||||||
| 31,340,000 Shares O/S respectively | $ - | $ - | $ - | |||||
| Weighted average number of common shares used to compute EPS: |
||||||||
| -Basic/Diluted | 31,340,000 | 31,340,000 | 31,340,000 | |||||
Sino-American Net Media Corp
Statements of Changes In Stockholders' Equity
Until Year Ended December 31, 2012
| Common | Paid-in | Accumulated | ||||
| Shares | Capital | Profits (Loss) | Total | |||
| Issuance of Common Stock, Shares | 25,000,000 | $ 3,134 | ||||
| Net Profits (Loss) | $ (3,134) | |||||
| Balance, December 31, 2010 | 25,000,000 | $ 3,134 | $ (3,134) | $ - | ||
| Issuance of Common Stock, Shares | ||||||
| Net Profits (Loss) | ||||||
| Balance, December 31, 2011 | 25,000,000 | $ 3,134 | $ (3,134) | $ - | ||
| Issuance of Common Stock, Shares | ||||||
| Net Profits (Loss) | ||||||
| Balance, December 31, 2012 | 25,000,000 | $ 3,134 | $ (3,134) | $ - | ||
Sino-American Net Media Corp
Statement of Cash Flows
| For Years Ended December 31, 2012 and 2011 Periods | ||||||||||
| From | From | From Inception | ||||||||
| 1/1/2011 | 1/1/2010 | 2/09/2009 to | ||||||||
| 12/31/2012 | 12/31/2011 | 12/31/2012 | ||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
| Net income (loss) | $ - | $ - | $ (3,134) | |||||||
| $ - | $ - | $ - | ||||||||
| Net cash provided by operating activities | $ - | $ - | $ (3,134) | |||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
| Private Financing by issued shares | $ - | $ - | $ 3,134 | |||||||
| Net Cash Provided By Financial Activities | $ - | $ - | $ 3,134 | |||||||
| Increase (decrease) in cash | ||||||||||
| Cash, beginning at the period | $ - | $ - | $ - | |||||||
| Cash, end at the period | $ - | $ - | $ - | |||||||
| Supplemental Cash Flow Information: | ||||||||||
| Interests paid: | $ - | $ - | $ - | |||||||
<PAGE>
SINO-AMERICAN NET MEDIA CORP INC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2012
1. ORGANIZATIONS AND DESCRIPTION OF BUSINESS
Sino-American Net Media Corp (the "Company") was incorporated under the laws of the State of Delaware on February 9, 2009 and has been inactive since inception. The Company intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock or other business combination with a domestic or foreign business.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting
The accompanying audited financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for annual financial information, and with the rules and regulations of SEC to Form 10-K and Article 8 of Regulation S-X.
The Company selected its year-end on December 31.
Development Stage Company
The Company is a development stage company as defined by section 915-10-20 of the FASB Accounting Standards Codification. The Company has recognized no revenue since inception, and is still devoting substantially all of its efforts on establishing the business and its planned principal operations have not commenced. All losses accumulated since inception, have been considered as part of the Company’s development stage activities.
Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash Equivalents
The Company considers all highly liquid investments with maturity of three months or less when purchased to be cash equivalents.
Fair Value of Financial Instruments
The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:
- Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
- Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
- Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data.
The Company does not have any assets or liabilities measured at fair value on a recurring or a non-recurring basis, consequently, the Company did not have any fair value adjustments for financial assets and liabilities measured at fair value at December 31, 2012, nor gains or losses are reported in the statement of operations that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date for the period from February 9, 2009 (inception) through December 31, 2012.
Revenue Recognition
The Company will apply paragraph 605-10-S99-1 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company will consider revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv)collectability is reasonably assured.
Income Taxes
The Company will account for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.
The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.
Net Loss Per Common Share
Net loss per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of
common stock during each period. There were no potentially dilutive shares outstanding as of December 31, 2012.
3. GOING CONCERN
The accompanying financial statements are presented on a going concern basis. The Company had minimal operations during the period from February 9, 2010(date of inception) to December 31, 2012 and has not established any source of revenue to cover its operating costs. The Company will engage in very limited activities without incurring any liabilities that must be satisfied in cash until a source of funding is secured. The Company will offer no cash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.
4. WARRANTS AND OPTIONS
There are no warrants or options outstanding to acquire any additional shares of common stocks.
5. RELATED PARTY TRANSACTIONS
None
6. INCOME TAXES
As of December 31, 2012
Deferred tax assets:
Net operating losses carry forwards $ 3,134
Other 0
Valuation allowance 3,134
Net deferred tax assets $ 0
Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.
7. NET OPERATING LOSSES
As of December 31, 2012, the Company has a net operating loss carryforward of $ 3,134 including $0 generated in this year. Net operating loss carryforward expires twenty years from the date the loss was incurred.
8. STOCK TRANSACTIONS
Upon formation, the Board of Directors issued 31,340,000 shares of common stock for $3,134 in services to the founding shareholder of the Company to fund organizational start-up costs.
On August 13, 2010, Zhong Fang purchased 99 % of the Company's shares of common stock from the founder in a private sale at the price of $59,990.
The aggregate number of shares issued and outstanding has been unchanged since the company’s inception.
9. STOCKHOLDERS' EQUITY
The stockholders' equity section of the Company contains the following classes of capital stock as of this date of reporting:
Common stock, $ 0.0001 par value: 250,000,000 shares authorized; 31,340,000 shares issued and outstanding.
Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures
None
Item 9A. Controls and Procedures
An evaluation was performed under the supervision and with the participation of our management, including the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange act of 1934, as amended) as of the end of period covered by this report. Based on that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that these disclosure controls and procedures were effective. There has been no change in our internal control over financial reporting during our most recent fiscal year that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
Item 10. Directors, Executive Officers of the Registrant
Our company currently has one officer and Director:
Name Age Term Served as Position with the
Director/Officer Company
Zhong Fang 48 August 2010 President, CFO
Director
Zhong Fang, President since August 2010, and is a self-employed consultant for real estate, immigration and network and media information since 2008. Before 2008 till 1994, he mainly engaged in real estate development and investment, the development of network information.
Item 11. Executive Compensation
None
Item 12. Security Ownership of Certain Beneficial Ownership Management
We have set forth in the following table information, which is relative to our common stock beneficially owned on December 31, 2012:
Name and Address of Amount of Percentage of
Beneficial Owner Beneficial Owner This Class
Sino-American* 31,026,600 99.0 %
Total: 31,026,600 99.0 %
* Sino-American* is a Nevada company and controlled and represented by Zhong Fang.
Item 13. Certain Relationships and Related Transactions.
None
Item 14. Principal Accountant Fees and Services.
Audit Fees:
None
Audit related fees:
None
Tax Fees:
None
All Other Fees:
None
PART IV
Exhibit Filed _References In______
No Description_______________________ herewith_ Form Exhibit Filing Date
31 Section 302 Certification of CEO & CFO X
32 Section 906 Certification of CEO & CFO X
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Sino-American Net Media Corp.
Dated: April 15, 2013 By: /s/ Zhong Fang
------------------------
Zhong Fang (Principal Executive Officer)
(Principal Financial Officer)
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.
Name Title Date
/s/_Zhong Fang CEO & CFO April 15, 2013
Zhong Fang