SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Amendment No. 1 to

FORM 10-K

 

Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
 For the fiscal year ended December 31, 2012
  
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
 For the transition period from ______________to ______________

 

Commission File Number 000-50760

 

SANCON RESOURCES RECOVERY, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

State of Nevada, USA

(State or Other Jurisdiction of Incorporation or Organization)

58-2670972

(I.R.S. Employer Identification No.)

   

602 Nan Fung Tower, Suite 6/F

88 Connaught Road Central

Central District, Hong Kong

(Address of Principal Executive Offices)

N/A

(Zip Code)

 

+(852) 2868-0668

(Registrant’s Telephone Number, Including Area Code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class Name of Each Exchange on Which Registered
None N/A

 

Securities registered pursuant to Section 12(g) of the Act:

 

Common Stock, par value $0.001 per share

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. □ Yes ■ No

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. □ Yes ■ No

 

Indicate by check mark whether the registrant (1) has 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 requirement for the past 90 days. ■ Yes □ No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of the 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 ■ 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.

Large accelerated filer □ Accelerated filer □ 

Non-accelerated filer □ 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 □ No

 

The aggregate market value of voting stock held by non-affiliates of the registrant as of June 30, 2012 was approximately $160,812 (based upon a closing price of $0.0125 per share, as reported on Yahoo Finance).

 

As of December 31, 2012, there were 12,864,996 shares of the registrant’s common stock outstanding.

 

DOCUMENTS INCORPORATED BY REFERENCE

 

List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. None.

 

 

   
 

 

EXPLANATORY NOTE

 

 

This Amendment to our Annual Report on Form 10-K is being made to revise the Consolidated Statements of Cash Flows. No other changes have been made to the Form 10–K. This Amendment No. 1 speaks as of the original filing date of the Form 10–K, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10–K.

 

 

 

 

 

 

 

 

 

 

 

 

   
 

 

SANCON RESOURCES RECOVERY, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER, 2012 AND 2011

(United States dollars, except number of shares, per share data and unless otherwise stated)

             

 

   For the years ended December 31, 
   2012   2011 
     
Cash Flows from Operating Activities          
Net loss  $(101,378)  $(6,572,908)
Adjustments to reconcile net income to net cash flows provided by operating activities:          
Share based payment   36,775     
Bad debt written off       11,503 
Gain on disposal of subsidiaries       (1,038,962)
Amortization of deferred compensation   93,600    15,600 
Changes in current assets and liabilities, net of business acquisition:          
Increase in other current assets   (10,498)    
Decrease in trade payable       (47,905)
Decrease in other current liabilities   (18,499)   (235,120)
Net cash used in continued operations       (7,867,792)
Net cash generated from discontinued operations       1,904,739 
Net cash used in operating activities       (5,963,053)
           
Cash Flows from Financing Activities          
Cancellation of shares       (10,100)
Net cash used in continued operations       (10,100)
Net cash used in discontinued operations        
Net cash flows used in financing activities       (10,100)
           
Effect of exchange rate changes on cash       (40,736)
           
Net increase in cash & cash equivalents       (6,013,889)
Cash & cash equivalent at start of year       6,013,889 
Cash & cash equivalent at end of year  $   $ 
           
Noncash Investing and Financing Transactions          
Settlement of other payable by issuing share options  $89,015   $ 

 

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

                 

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PART IV

 

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

 

(a)The following Exhibits are filed as part of this report.

 

Exhibit Number   Description of Document
     

 

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

 

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the May 16, 2016.

 

   

SANCON RESOURCES RECOVERY, INC.

 

 

By:   /s/ Stephen Tang                                                

Stephen Tang

President and Director

(Chief Executive Officer)

 

 

 

In accordance with the Securities Exchange Act of 1934, 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/ Stephen Tang

 

President; Director

May 16, 2016

Stephen Tang   (Chief Executive Officer)  
       
       

/s/ Francis Bok

 

Director

May 16, 2016

Francis Bok   (Chief Financial Officer)  

 

 

 

 

 

 

 

 

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