What changed in this filing

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Item 1. Financial Statements

2020-08-14 compared with 2020-05-05 · 52 added, 62 removed, 208 unchanged (35% of the section changed)

FINANCIAL STATEMENTS.

EASON EDUCATION KINGDOM HOLDINGS, INC.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.

CONDENSED BALANCE SHEETS

MARCH 31, 2020 (UNAUDITED) AND DECEMBER 31, 2019 (AUDITED)

AS OF JUNE 30, 2020 AND DECEMBER 31, 2019

CURRENT ASSETS:

2 unchanged sentences

Total Current Assets

LIABILITIES AND STOCKHOLDERS’ DEFICIT

LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY

CURRENT LIABILITIES:

Accounts payable

Accounts payable - Related party

Accrued interest

Accrued interest - Related parties

Accrued liabilities

Amount due to shareholder

Notes payable

Notes payable - Related parties

Total Current Liabilities

STOCKHOLDERS’ EQUITY:

STOCKHOLDERS’ (DEFICIT) EQUITY:

Preferred stock, Class A Preferred Stock;

7 unchanged sentences

Accumulated deficit

Total Stockholders’ Equity

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

Total Stockholders’ (Deficit) Equity

TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY

The accompanying notes are an integral part of the condensed financial statements.

EASON EDUCATION KINGDOM HOLDINGS, INC.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.)

CONDENSED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2020 (UNAUDITED) AND 2019 (UNAUDITED)

Gross Revenues

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2020 AND 2019

Three months ended

Six months ended

Operating Expenses

2 unchanged sentences

Loss from Operations

Other Income (Expense)

Gain on release of liabilities

Interest (expense)

Interest (expense) - Related Parties

Total Other Income/(Expense)

Profit/(loss) before Income Taxes

Loss before Income Taxes

Provision for Income Taxes

Net Profits/(Loss)

Earnings (Loss) per Share Basic and Diluted

Loss per Share Basic and Diluted

Weighted Average Shares Outstanding Basic and Diluted

The accompanying notes are an integral part of the condensed financial statements.

EASON EDUCATION KINGDOM HOLDINGS, INC.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.)

STATEMENTS OF STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2019

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2019

BALANCE, December 31, 2014

11 unchanged sentences

BALANCE, March 31, 2019

The accompanying notes are an integral part of these financial statements.

EASON EDUCATION KINGDOM HOLDINGS, INC.

Net Loss for the three months ended June 30, 2019

BALANCE, June 30, 2019

The accompanying notes are an integral part of the condensed financial statements.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.)

STATEMENTS OF STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2020 AND YEAR ENDED DECEMBER 31, 2019

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2020 AND YEAR ENDED DECEMBER 31, 2019

BALANCE, December 31, 2014

13 unchanged sentences

BALANCE, March 31, 2020

The accompanying notes are an integral part of these financial statements.

EASON EDUCATION KINGDOM HOLDINGS, INC.

Net Loss for the period ended June 30, 2020

BALANCE, June 30, 2020

The accompanying notes are an integral part of the condensed financial statements.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2020 AND 2019 (UNAUDITED)

FOR THE SIX MONTHS ENDED MARCH 31, 2020 AND 2019 (UNAUDITED)

CASH FLOWS FROM OPERATING ACTIVITIES:

Net profits (loss) from operations

Net loss from operations

Changes in assets and liabilities:

Decrease in prepaid expenses

Increase (Decrease) in accrued liabilities

Decrease in accounts payable

Decrease in accrued expenses

Decrease in escrow account hold by attorney

Net cash (used in) operating activities

CASH FLOWS FROM FINANCING ACTIVITIES:

Procced from debt settlement

Escrow accounts hold by director

Amount due to shareholder

Decrease in notes payable

Decrease in notes payable-related parties

Proceed from common stock issuance

Net cash provided by financing activities

Net increase/(decrease) in cash

CASH AT BEGINNING OF THE YEAR

CASH AT END OF THE YEAR

CASH AT BEGINNING OF THE PERIOD

CASH AT END OF THE PERIOD

SUPPLEMENTAL CASH FLOW INFORMATION:

2 unchanged sentences

The accompanying notes are an integral part of the condensed financial statements.

EASON EDUCATION KINGDOM HOLDINGS, INC.

NEW MOMENTUM CORPORATION

(FORMERLY EASON EDUCATION KINGDOM HOLDINGS, INC.)

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2020 AND DECEMBER 31, 2019

JUNE 30, 2020

NOTE 1 – ORGANIZATION, HISTORY AND BUSINESS ACTIVITY

Eason Education Kingdom Holdings, Inc.

(formerly known as Han Logistics, Inc.) (the “Company”) was incorporated under the law of the State of Nevada on July 1, 1999.

New Momentum Corporation (formerly known as Eason Education Kingdom Holdings, Inc.) (the “Company”) was incorporated under the law of the State of Nevada on July 1, 1999.

The Company organized to engage in the business of namely the development, marketing and delivering of logistical analysis, problem solving and other logistics services and general business services.

22 unchanged sentences

The total amount of the Company’s investment classified as Level 3 is de minimis.

The fair value of the Company’s debt as of March 31, 2020 and December 31, 2019 approximated fair value at those times.

The fair value of the Company’s debt as of June 30, 2020 and December 31, 2019 approximated fair value at those times.

Fair value of financial instruments:

The carrying amounts of financial instruments, including cash, accounts payable, and accrued expenses approximated fair value as of March 31, 2020 and December 31, 2019 because of the relative short term nature of these instruments.

The carrying amounts of financial instruments, including cash, accounts payable, and accrued expenses approximated fair value as of June 30, 2020 and December 31, 2019 because of the relative short term nature of these instruments.

Revenue Recognition

11 unchanged sentences

The Company records interest and penalties arising from the underpayment of income taxes in the statement of income under general and administrative expenses.

As of March 31, 2020 and December 31, 2019, the Company had no accrued interest or penalties related to uncertain tax positions.

As of June 30, 2020 and December 31, 2019, the Company had no accrued interest or penalties related to uncertain tax positions.

The company also did not have any uncertain tax benefits during these years.

4 unchanged sentences

Diluted net loss per common share is computed by dividing the net loss applicable to common stockholders, adjusted on an “as if converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities.

For the three months ended March 31, 2020 and 2019, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.

For the three and six months ended June 30, 2020 and 2019, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.

Recent Accounting Pronouncements

51 unchanged sentences

The Company’s financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

The Company incurred a net loss of $8,573 (from operations) for the three months ended March 31, 2020 and an accumulated deficit of $723,087.

The Company incurred a net loss of $71,612 (from operations) for the six months ended June 30, 2020 and an accumulated deficit of $786,126.

It also sustained operating losses in prior years as well.

3 unchanged sentences

Ultimately, the Company will need to achieve profitable operations in order to continue as a going concern.

There are no assurances that Eason Education Kingdom Holdings, Inc.

will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations;

There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations;

or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements.

17 unchanged sentences

Total Actual Provision

As of March 31, 2020, the Company has provided tax losses of $682,491 (December 31, 2019:

As of June 30, 2020, the Company has provided tax losses of $745,530 (December 31, 2019:

Deferred tax asset is not provided for as the tax losses may not be able to carry forward after a change in substantial ownership of the Company in February 2015.

NOTE 5 – COMMON STOCK

As of March 31, 2020 and December 31, 2019, the Company authorized two classes of stock;

As of June 30, 2020 and December 31, 2019, the Company authorized two classes of stock;

500,000,000 shares of common stock at par value of $0.001 and 175,000,000 Class A preferred stock at par value of $0.001.

There are 310,868,500 common shares issued and outstanding as of March 31, 2020 and December 2019.

There are 310,868,500 common shares issued and outstanding as of June 30, 2020 and December 2019.

None of the Class A preferred stock is issued.

3 unchanged sentences

Management deemed the rent-free space to be of no nominal value.

As of March 31, 2020 and December 31, 2019, total notes payable to the related parties and accrued interests amounted to $0 and $0 in the aggregate.

As of March 31, 2020 and December 31, 2019, there were no outstanding balance due from or due to the shareholders.

As of June 30, 2020 and December 31, 2019, total notes payable to the related parties and accrued interests amounted to $0 and $0 in the aggregate.

As of June 30, 2020 and December 31, 2019, there were no outstanding balances due from or due to the shareholders.

NOTE 7 – NOTE PAYABLE

As of March 31, 2020 and December 31, 2019, there were no notes payable and no interests incurred or accrued related to notes payable.

As of June 30, 2020 and December 31, 2019, there were no notes payable and no interests incurred or accrued related to notes payable.

NOTE 8 – RELEASE OF LIABILITIES

5 unchanged sentences

The Company has evaluated the period after the balance sheet date up through the date that the financial statements were issued, and determined that there were no subsequent events or transactions that required recognition or disclosure in the financial statements.

On July 6, 2020, the Company entered into a Share Exchange Agreement (the “Share Exchange Agreement”), by and among the Company, Nemo Holding Corp., a British Virgin Islands corporation (“Nemo Holding”), and the holders of common shares of Nemo Holding.

The holders of the common stock of Nemo Holding consisted of 29 stockholders.

Under the Share Exchange Agreement, the Company offered, sold and issued 10,000,000 shares of common stock in consideration for all the issued and outstanding shares in Nemo Holding.

On August 6, 2020, the Company entered into a Share Acquisition Agreement (the “Share Acquisition Agreement”), by and among the Company, Beyond Blue Limited, a Hong Kong corporation (“Beyond Blue”), and the only beneficial holder of common shares of Beyond Blue, who is also Leung Tin Lung David, the Company’s sole officer and director.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements