Wednesday, November 15, 2017 4:48:39 AM
OLD
" to acquire the right of operating and managing the Center for a consideration of RMB 5 million (approximately US$ 750,000)."
NEW
"to acquire the right of operating and managing the Center for a consideration of RMB 3,485,250 (approximately US$ 535,000)."
OLD
"We have accumulated deficit of $683,030 as of December 31, 2016 and $774,829 as of June 30, 2017, we have incurred a net loss of $683,030 for the period of March 30, 2016 to December 31, 2016 and of $91,799"
NEW
"We have accumulated deficit of $683,030 as of December 31, 2016 and $774,829 as of June 30, 2017, we have incurred a net loss of $683,030 for the period of March 30, 2016 to December 31, 2016 and of $91,800"
OLD
"Date: November 13, 2017 CHINA TELETECH HOLDING, INC."
NEW
" Date: November 14, 2017 CHINA TELETECH HOLDING, INC."
OLD
"Comprehensive loss 99,951 (676,215 )"
NEW
" Comprehensive loss 99,952 (676,215 )"
NEW
Yu Certified Public Accountant, P.C.
Yu Certified Public Accountant, P.C.
Professionalism, Expertise, Integrity
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the board of Directors and Shareholders of
Liaoning Kunchengyuan Internet Technology Co. Ltd.
We have audited the accompanying consolidated balance sheet of Liaoning Kunchengyuan Internet Technology Co. LTD.(the “Company”) as of December 31, 2016 and the related consolidated statements of income and comprehensive loss, changes in stockholders’ equity and cash flows for the nine-month period then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (Untied States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Liaoning Kunchengyuan Internet Technology Co. LTD. as of December 31, 2016, and the results of their operations and their cash flows for the nine-month period then ended in conformity with accounting principles generally accepted in the United States of America.
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 11 to the financial statements, the Company has suffered operating loss and has experienced negative cash flows from operations, which raises substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to those matters are also described in Note 11 to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
New York, New York
October 31, 2017
"
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