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U.S. SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
Form 10-Q
[X] QUARTERLY REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March
31, 2024
[ ] TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File No. 333-179302
Vanjia Corporation
(Exact name of registrant
as specified in its charter)
Texas |
|
45-3051284 |
(State or other jurisdiction |
|
(I.R.S. Employer Identification No.) |
of incorporation or organization) |
|
|
Sweetwater Blvd, Unit 199
Sugar Land, TX 77479-3121
(Address of principal executive
offices)
1-832-289-3219
(Issuer's telephone number)
Indicate by checkmark whether
the issuer: (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 requirements for the
past 90 days. Yes [X ] No[ ]
Indicate by check mark
whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
Large accelerated filer [ ]
Accelerated filer [ ]
Non-accelerated filer [ ]
Small Reporting company [X]
Emerging Growth [ ]
Indicate by checkmark whether
the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
Indicate by check mark
whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months or for such shorter period that the registrant
was required to submit and post such files). [x] Yes [ ] No
Indicate the number
of shares outstanding of each freely tradable common stock, as of the most practicable date: 6,000,000 freely tradable shares
as of March 31, 2024
1
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Form 10-Q Report Index
|
Page No: |
PART 1. FINANCIAL INFORMATION |
|
1 |
Item 1. Financial Statements |
|
2 |
Condensed Balance Sheets |
|
3 |
Condensed Statements of Operations |
|
4 |
Condensed Statements of Cash Flows |
|
5 |
Notes to financial Statements |
|
6-9 |
Item 2. Management Discussion and Analysis of Financial Condition |
|
10 |
Item 3. Quantitative and Qualitative Disclosures about Market Risk |
|
10 |
Item 4. Control and Procedures |
|
10 |
PART 11. OTHER INFORMATION |
|
|
Item 1. Legal Proceedings |
|
11 |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
|
11 |
Item 3. Defaults Upon Senior Securities |
|
11 |
Item 4. Mine Safety Disclosures |
|
11 |
Item 5. Other Information |
|
11 |
Item 6. Exhibit |
|
11 |
Item 7. Signature |
|
11 |
2
VANJIA CORPORATION
BALANCE SHEETS
| |
March 31, 2024 | |
December 31,2023 |
ASSETS | |
| | | |
| | |
Current Assets | |
| | | |
| | |
Cash and Cash equivalents | |
$ | 82,014 | | |
$ | 22,568 | |
Account Receivables | |
| — | | |
| 68,985 | |
Total current Assets | |
| 82,014 | | |
| 91,553 | |
Land Held for Investment | |
| 742,000 | | |
| 742,000 | |
Total Assets | |
$ | 824,014 | | |
$ | 833,553 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |
| | | |
| | |
Current Liabilities: | |
| | | |
| | |
| |
$ | — | | |
$ | — | |
Total Current Liabilities | |
| — | | |
| — | |
Stockholders' Equity | |
| — | | |
| — | |
Common stock, par value $0.0001 per share, 9,999,999,999 shares authorized, 30,000,000 shares issued and outstanding as of March 31, 2023 and December 31, 2022 | |
| 3,000 | | |
| 3,000 | |
Preferred Stock, par value $0.0001 per share, 8,888,888,888 shares authorized, 0 issued and outstanding as of March 31, 2023 and December 31, 2022 | |
| — | | |
| — | |
Additional Paid-In Capital | |
| 936,400 | | |
| 936,400 | |
Deficit accumulated during development stage | |
| (115,386 | ) | |
| (105,847 | ) |
Total stockholders' equity | |
| 824,014 | | |
| 833,553 | |
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY | |
$ | 824,014 | | |
$ | 833,553 | |
The Accompanying Notes are
an Integral Part of the Financial Statements.
3
VANJIA CORPORATION
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED
MARCH 31, 2024 AND 2023
| |
Three Months March 31 2024 | |
Three Months Ended March 2023 |
Revenue: | |
$ | — | | |
$ | 50,000 | |
General and Administrative expenses | |
| 9,539 | | |
| 4,509 | |
Income (Loss) from operation | |
| (9,539 | ) | |
| 45,491 | |
Other income (expenses): | |
| | | |
| — | |
| |
| | | |
| | |
| |
| | | |
| — | |
Income (loss) before Income taxes | |
| (9,539 | ) | |
| 45,491 | |
Provision for income taxes: | |
| | | |
| — | |
Net Profit/Loss | |
$ | (9,539 | ) | |
$ | 45,491 | |
Net Loss Per Shares | |
| | | |
| | |
Net Loss Per Shares Basic
and diluted | |
$ | (0.00 | ) | |
$ | (0.00 | ) |
Weighted Average Shares Outstanding: | |
| | | |
| | |
Weighted Average Shares Outstanding:
Basic and diluted | |
| 30,000,000 | | |
| 30,000,000 | |
| |
| | | |
| | |
The Accompanying Notes are
an integral Part of the Financial Statements.
4
VANJIA CORPORATION
STATEMENT OF CASH FLOW
FOR THE THREE MONTHS ENDED
MARCH 31, 2024 AND 2023
| |
Three Months Ended March 31, 2024 | |
Three Months Ended March 31, 2023 |
CASH FLOWS FROM OPERATING ACTIVITIES: | |
| | | |
| | |
Net Profit/Loss | |
$ | 9,539 | | |
$ | (45,491 | ) |
Adjustments to reconcile net loss to cash provided by operating activities: | |
| | | |
| | |
Account receivable | |
| 58,850 | | |
| — | |
Net cash provided by operating activities: | |
| 68,389 | | |
| (45,491 | ) |
Net Increase (decrease) in cash and cash equivalents | |
| 68,389 | | |
| (45,491 | ) |
Cash and cash equivalents: | |
| | | |
| | |
Beginning | |
$ | 13,625 | | |
$ | 18,134 | |
Ending | |
$ | 82,014 | | |
$ | 13,625 | |
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: | |
| | | |
| | |
Interest Expenses | |
$ | — | | |
$ | — | |
Income Tax Expense | |
$ | — | | |
$ | — | |
Accompanying Notes are an
Integral Part of the Financial Statements.
5
VANJIA CORPORATION |
|
|
STATEMENTS OF STOCKHOLDER’S EQUITY |
|
|
FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
Amount |
|
Additional
Paid in Capital |
|
Account
Receivables |
|
Accumulated
Deficit |
|
Total Stockholder’s
Equity |
Balance at December 31, 2022 |
|
|
30,000,000 |
|
|
$ |
3,000 |
|
|
$ |
936,400 |
|
|
$ |
68,985 |
|
|
$ |
(173,410 |
) |
|
$ |
765,990 |
|
Net Profit/Loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
67,563 |
|
|
|
67,563 |
|
Balance at March 31, 2023 |
|
|
30,000,000 |
|
|
$ |
3,000 |
|
|
$ |
936,400 |
|
|
$ |
68,985 |
|
|
$ |
(105,847) |
|
|
$ |
883,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
Amount |
|
Additional
Paid in Capital |
|
Account
Receivables |
|
Accumulated
Deficit |
|
Total Stockholder’s
Equity |
Balance at Dec. 31,2023 |
|
|
30,000,000 |
|
|
$ |
3,000 |
|
|
$ |
936,400 |
|
|
$ |
68,985 |
|
|
$ |
(105,847 |
) |
|
$ |
833,553 |
|
Net profit/loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(9,539 |
) |
|
|
(9,539 |
) |
Balance at March 31, 2024 |
|
|
30,000,000 |
|
|
$ |
3,000 |
|
|
$ |
936,400 |
|
|
$ |
68,985 |
|
|
$ |
(115,386) |
|
|
$ |
824,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Accompanying Notes are
an Integral Part of the Financial Statements.
6
VANJIA
CORPORTION
NOTES TO UNAUDITED CONDENSED
FINANCIAL STATEMENTS
MARCH 31, 2024
1. NATURE OF OPERATIONS AND SUMMARY
OF ACCOUNTING POLICIES
Basis of Presentation
The accompanying
unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in
the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10
of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in
this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial
position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited
financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not
necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote
disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s
Registration Statement on Form 10-K for the year ended December 31, 2023.
ORGANIZATION
AND NATURE OF BUSINESS
Vanjia Corporation (formerly Vantone
Realty Corporation) , (the “Company”), was incorporated on August 19, 2011 in the State of Texas. The company has conducted
limited business operations since its inception. The Company's business plan is to build affordable homes in Houston, Texas. In 2018,
the Company has begun a business to enroll students for real estate licensing courses. The Company’s year-end is December 31.
USE OF ESTIMATES
The preparation of financial statements
in conformity with generally accepted accounting principles in the United States of America, 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 revenue and expenses during the reporting period. Actual results could differ
from those estimates.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include
cash and all highly liquid instruments with original maturities of three months or less.
REVENUE RECOGNITION
Revenues are recognized when control
of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects
to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate
amount of revenue to be recognized as it fulfills its obligations under each of its agreements:
* Identify the contract with a customer;
* Identify the performance obligations
in the contract;
* determine the transaction price;
* allocate the transaction price
to performance obligations in the contract; and
*
recognize revenue as the performance obligation is satisfied.
CONCENTRATION OF CREDIT RISK
The Company's financial instruments
that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the
near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular
financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength
and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are
limited.
NET INCOME (LOSS) PER SHARE
Basic income
(loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period.
Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents
and potentially dilutive securities outstanding during each period. At March 31, 2024, the Company does not have any outstanding common
stock equivalents; therefore, a separate computation of diluted loss per share is not presented.
INCOME
TAXES
The Company
accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities
and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using
enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the
change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it
is more likely than not that some or all of any deferred tax assets will not be realized.
RECENT ACCOUNTING PRONOUNCEMENTS
The Company does not expect the adoption
of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.
2.
INCOME TAXES
The Company has not yet realized
income as of the date of this report, and no provision for income taxes has been made. As of March 31, 2023, the Company had net operating
loss carry forwards of $115,386 that may be available to reduce future years’ taxable income. Future tax benefits which
may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely
to occur and accordingly, the Company has recorded a full valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
3. LINE
OF CREDIT
The Company has available a line
of credit with an officer and shareholder that provided maximum borrowing up to $5,000,000 for working capital purposes. The
line of credit has no expiration date and is due on demand. Borrowings under the line of credit bear interest at 5% per annum.
As of March 31, 2024 and December 31, 2023, the Company had outstanding balance of $-0- on the line of credit.
4. SUBSEQUENT
EVENTS
Management has evaluated subsequent
events through the date which the financial statements are available to be issued. All subsequent events requiring recognition as of March
31, 2024 have been incorporated into these financial statements and there are no subsequent events that required disclose in accordance
with FASB ASC Topic 855, " Subsequent Events."
7
____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Item 2. MANAGEMENT’S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION
This section of the quarterly
report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance.
Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions,
or words which, by their nature, refer to future events. You should not place an undue certainty on these forward-looking statements,
which apply only as of the date of this prospectus. These forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from historical results or our predictions.
PLAN
OF OPERATION
Our plan of operations for the next twelve months
is to proceed with the implementation of our business plan.
GOALS |
PROJECT OUTCOMES |
Legal and Accounting Expenses |
Compliance with financial reporting and internal controls |
Website Design |
Creation of our corporate website |
Civil Engineer or Surveyor's Fees |
Subdivision of lands |
Architect drawings |
Complete a set of plans for building permits |
Project Consultants |
Quality Control of construction project |
Marketing and Promotion |
Marketing and public awareness activities |
Working Capital |
Office supplies, telephone, postage and other miscellaneous expenses |
ACCOUNTING AND LEGAL EXPENSES-
Our estimate these related expenses will range from $9,800 for the next 12 months. We will be subject to the reporting requirements of
the Securities Exchange Act of 1934, as amended, or the Exchange Act, and the Sarbanes-Oxley Act of 2002. The Exchange Act requires that
we file annual, quarterly and current reports with respect to our business and financial condition. The Sarbanes-Oxley Act requires that
we maintain effective disclosure controls and procedures and internal controls for financial reporting.
CREATE
OUR CORPORATE WEBSITE- It is part of our business plan to have our website. A website can convey our corporate images and services
to our potential customers. We believe our estimated cost of $1,250 will be sufficient to cover our projected expense for website design.
SURVEYOR'S FEES- We
are required to obtain surveyors' services related to subdivision of land. Our estimated cost for a surveyor' services will be $2,500.
The Planning Commission for the City of Houston is responsible for the review and approval of application for subdivision of land.
8
ARCHITECT DRAWINGS- We are required to
obtain several sets of architect drawings in connection with our proposed construction projects. We estimated the cost for architect drawings
will be $5,000 to$7,500 per year.
PROJECT CONSULTANTS-
Once we have obtained the necessary building permits from the City of Houston, we will be ready to build our residential homes. We will
require to hire project consultants to monitor the quality control of our construction projects. We intend to spent $2,500 annually for
project consultants.
MARKETING AND PROMOTION-
Our staff will distribute our promotional fliers on foot, spending afternoons knocking on the doors of residences in targeted neighborhoods,
as well as residences already in designated HOPE and Workforce areas. Speaking with potential buyers directly is the best way to inform
and engage the communities. When speaking to residents, we will explain the Houston HOPE and Workforce programs, specifically mentioning
how these programs can benefit them as future owners of our new homes and services. We will then outline in further detail the government
assistance option available to them. The government can offer up to $30,000 for down payments and unlike renting, home ownership allows
one to build up home equity.
The following table shows the projection of
our building activities for three years:
|
1stYear milestone
|
2nd Year milestone
|
3rdyear milestone |
Number of residential homes |
2- 3 homes |
3-5 homes |
5-8 homes |
Location of new residential homes |
Houston, Texas |
Houston, Texas |
Houston, Texas |
Estimated cost for each milestone |
$100,000 |
$200,000 |
$300,000 |
LIQUIDITY AND CAPITAL RESOURCES
On March 31, 2024, our total
assets were $824,014 and our total liabilities were $-0- We expect to raise additional capital through, among other things, the sale of
equity or debt securities, private placement offerings, employee stock options plans, and advanced funds from our officer and director.
Any deficiencies in general and administrative expenses will be covered from funds by our director and officer. Our officer and director,
Tian Su Hua, has agreed to provide us a $5,000,000 line-of-credit at -0- interest. The management believes that an existing $5,000,000
line-of-credit agreement with our officer and director will be sufficient to cover our operational expense for the next twelve months.
The residential lot we currently own is large enough to accommodate up to eight homes. We believe that our future expenditures for the
second and third years will be covered by revenues generate from sell of new homes and additional offerings for equity or debt securities,
private placement offerings, employee options plans and funds from our officer and director.
RESULTS OF OPERATIONS
From March 31, 2022 to March 31, 2024.
During the period, we have prepared a business
plan. Our accumulated loss since March 31, 2023 to March 31, 2024 was $115,386 for general and administrative expenses.
9
__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
OFF-BALANCE
SHEET ARRANGEMENT
The
Company has no material transactions, arrangements, obligations or other relationships with entities or other persons that have or are
reasonably likely to have a material current or future impact, changes in financial condition, results of operations, liquidity, capital
expenditures, capital resources, or significant components of revenues or expenses.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.
We are a small reporting
company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information.
ITEM 4. CONTROLS AND PROCEDURES
Under the supervision and
with the participation of our management, including the Principal Executive Officer and Principal Financial Officer, we have evaluated
the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered
by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure
controls and procedures are effective. There were no changes in our internal control over financial reporting during the quarter ended
March 31, 2023 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
10
PART II. OTHER INFORMATION
ITEM
1. LEGAL PROCEEDINGS
From
time to time, we are involved in various routine legal proceedings arising in our ordinary course of business. Any such currently pending
matters would not, in the opinion of management, have a material adverse effect on our financial conditions or results of operations.
Item
1A. RISK FACTORS
We are a small reporting company as defined
by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
There were no unregistered sales of equity
securities during the quarterly period ended March 31, 2024.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None
ITEM
4. MINE SAFETY DISCLOSURE
Not applicable
ITEM 5. OTHER INFORMATION
None
ITEM 6. EXHIBITS
Exhibit 31.1 Certificate
of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2 Certificate
of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.1 Certification
of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 32.2 Certification
of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Exhibit 101 XBRL data
files of Financial Statements and notes contained in this Quarterly Report on Form 10Q.
* In accordance with Regulation
S-T, the Interactive Data Files in Exhibit 101 to the Quarterly Report on Form 10-Q shall be deemed “furnished” and not “filed.”
ITEM 7. SIGNATURES
Pursuant to the requirements 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.
Vanjia Corporation
/s/ Tian Su Hua
Tian Su Hua
Chief Executive Officer
/s/ Tian Jia
Chief Financial Officer
May 7, 2024
11 _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
SARBANES-OXLEY SECTION 302(a)
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Tian Su Hua, certify that:
1. I have reviewed this quarterly report on
Form 10-Q for the period ended March 31, 2023 of Vanjia Corporation.
2. Based on my knowledge, this report does not
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer(s)
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15-d-15(f)) for the registrant
and have:
a. Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;
b. Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;
c. Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
d. Disclosed in this report any change in the
registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the
registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially
affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer(s)
and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors
and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s
ability to record, process, summarize and report financial information; and
b. Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
May 7th, 2024 |
Vanjia Corporation
/s/ Tian Su Hua |
|
Tian Su Hua |
ARBANES-OXLEY SECTION 302(a) CERTIFICATION
I, Tian Jia, certify that:
1. I have reviewed this annual report on Form 10Q for
the period ended March 31,2024 of Vanjia Corporation
2. Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly presented in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrants other certifying officer(s) and
I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15-d-15(f)) for the registrant
and have:
a. Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to
the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the
period in which this report is being prepared;
b. Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;
c. Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
d. Disclosed in this report any change in the registrant’s
internal control over financial reporting that occurred during the registrants most recent fiscal quarter (the registrants fourth fiscal
quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s
internal control over financial reporting; and
5. The registrants other certifying officer(s) and
I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors
and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
a. All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s
ability to record, process, summarize and report financial information; and
b. Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
May 7th,2024 |
Vanjia Corporation
/s/ Tian Jia |
|
Tian Jia |
|
CFO |
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of Vanjia Corporation (the
“Company”) on Form 10-Q for the period ended March 31, 2024 as filed with the Securities and Exchange Commission
on the date hereof (the “report”),
I, Tian Su Hua, Chief Executive Officer of the Company, certify,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
(1) The Report fully complies with the requirements of Section 13(a)
or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in this Report fairly presents, in
all material respects, the financial condition and results of operations of the Company.
/s/ Tian Su Hua
Tian Su Hua
Chief Executive Officer
Dated: May 7th, 2024
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Annual Report of Vanjia
corporation (the Company) on Form 10q for the period ended March 31,2024 as filed with the Securities and Exchange
Commission on the date hereof (the report),
I, Tian Su Hua, Chief Executive Officer
and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:
|
(1) |
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
|
(2) |
The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company. |
|
|
Vanjia Corporation |
Date: May 7th,2024 |
Signed: |
/s/ Tian Jia |
|
|
Chief Financial Officer |
v3.24.1.u1
Cover
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3 Months Ended |
Mar. 31, 2024
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Mar. 31, 2024
|
Document Fiscal Period Focus |
Q1
|
Document Fiscal Year Focus |
2024
|
Current Fiscal Year End Date |
--12-31
|
Entity File Number |
333-179302
|
Entity Registrant Name |
Vanjia Corporation
|
Entity Central Index Key |
0001532383
|
Entity Tax Identification Number |
45-3051284
|
Entity Incorporation, State or Country Code |
TX
|
Entity Address, Address Line One |
Sweetwater Blvd
|
Entity Address, Address Line Two |
Unit 199
|
Entity Address, City or Town |
Sugar Land
|
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TX
|
Entity Address, Postal Zip Code |
77479-3121
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832
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289-3219
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v3.24.1.u1
BALANCE SHEETS - USD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Current Assets |
|
|
Cash and Cash equivalents |
$ 82,014
|
$ 22,568
|
Account Receivables |
|
68,985
|
Total current Assets |
82,014
|
91,553
|
Land Held for Investment |
742,000
|
742,000
|
Total Assets |
824,014
|
833,553
|
Current Liabilities: |
|
|
Total Current Liabilities |
|
|
Stockholders' Equity |
|
|
Common stock, par value $0.0001 per share, 9,999,999,999 shares authorized, 30,000,000 shares issued and outstanding as of March 31, 2023 and December 31, 2022 |
3,000
|
3,000
|
Preferred Stock, par value $0.0001 per share, 8,888,888,888 shares authorized, 0 issued and outstanding as of March 31, 2023 and December 31, 2022 |
|
|
Additional Paid-In Capital |
936,400
|
936,400
|
Deficit accumulated during development stage |
(115,386)
|
(105,847)
|
Total stockholders' equity |
824,014
|
833,553
|
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY |
$ 824,014
|
$ 833,553
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v3.24.1.u1
BALANCE SHEETS (Parenthetical) - $ / shares
|
Mar. 31, 2024 |
Dec. 31, 2023 |
Statement of Financial Position [Abstract] |
|
|
Common Stock, Par or Stated Value Per Share |
$ 0.0001
|
$ 0.0001
|
Common Stock, Shares Authorized |
9,999,999,999
|
9,999,999,999
|
Common Stock, Shares, Issued |
30,000,000
|
30,000,000
|
Common Stock, Shares, Outstanding |
30,000,000
|
30,000,000
|
Preferred Stock, Par or Stated Value Per Share |
$ 0.0001
|
$ 0.0001
|
Preferred Stock, Shares Authorized |
8,888,888,888
|
8,888,888,888
|
Preferred Stock, Shares Issued |
0
|
0
|
Preferred Stock, Shares Outstanding |
0
|
0
|
X |
- DefinitionFace amount or stated value per share of common stock.
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v3.24.1.u1
STATEMENTS OF OPERATIONS - USD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Income Statement [Abstract] |
|
|
Revenue: |
|
$ 50,000
|
General and Administrative expenses |
9,539
|
4,509
|
Income (Loss) from operation |
(9,539)
|
45,491
|
Income (loss) before Income taxes |
(9,539)
|
45,491
|
Provision for income taxes: |
|
|
Net Profit/Loss |
$ (9,539)
|
$ 45,491
|
Net Loss Per Shares Basic and diluted |
$ (0.00)
|
$ (0.00)
|
Weighted Average Shares Outstanding: Basic and diluted |
30,000,000
|
30,000,000
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
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v3.24.1.u1
STATEMENT OF CASH FLOW - USD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
Net Profit/Loss |
$ 9,539
|
$ (45,491)
|
Adjustments to reconcile net loss to cash provided by operating activities: |
|
|
Account receivable |
58,850
|
|
Net cash provided by operating activities: |
68,389
|
(45,491)
|
Net Increase (decrease) in cash and cash equivalents |
68,389
|
(45,491)
|
Beginning |
13,625
|
18,134
|
Ending |
82,014
|
13,625
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: |
|
|
Interest Expenses |
|
|
Income Tax Expense |
|
|
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v3.24.1.u1
STATEMENTS OF STOCKHOLDERS EQUITY - USD ($)
|
Common Stock [Member] |
Additional Paid-in Capital [Member] |
Receivables from Stockholder [Member] |
Retained Earnings [Member] |
Total |
Beginning balance, value at Dec. 31, 2022 |
$ 3,000
|
$ 936,400
|
$ 68,985
|
$ (173,410)
|
$ 765,990
|
Shares, Issued at Dec. 31, 2022 |
30,000,000
|
|
|
|
|
Net profit/loss |
|
|
|
67,563
|
67,563
|
Ending balance, value at Mar. 31, 2023 |
$ 3,000
|
936,400
|
68,985
|
(105,847)
|
883,553
|
Shares, Issued at Mar. 31, 2023 |
30,000,000
|
|
|
|
|
Beginning balance, value at Dec. 31, 2023 |
$ 3,000
|
936,400
|
68,985
|
(105,847)
|
833,553
|
Shares, Issued at Dec. 31, 2023 |
30,000,000
|
|
|
|
|
Net profit/loss |
|
|
|
(9,539)
|
(9,539)
|
Ending balance, value at Mar. 31, 2024 |
$ 3,000
|
$ 936,400
|
$ 68,985
|
$ (115,386)
|
$ 824,014
|
Shares, Issued at Mar. 31, 2024 |
30,000,000
|
|
|
|
|
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v3.24.1.u1
1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES
|
3 Months Ended |
Mar. 31, 2024 |
Accounting Policies [Abstract] |
|
1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES |
1. NATURE OF OPERATIONS AND SUMMARY
OF ACCOUNTING POLICIES
Basis of Presentation
The accompanying
unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in
the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10
of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in
this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial
position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited
financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not
necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote
disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s
Registration Statement on Form 10-K for the year ended December 31, 2023.
ORGANIZATION
AND NATURE OF BUSINESS
Vanjia Corporation (formerly Vantone
Realty Corporation) , (the “Company”), was incorporated on August 19, 2011 in the State of Texas. The company has conducted
limited business operations since its inception. The Company's business plan is to build affordable homes in Houston, Texas. In 2018,
the Company has begun a business to enroll students for real estate licensing courses. The Company’s year-end is December 31.
USE OF ESTIMATES
The preparation of financial statements
in conformity with generally accepted accounting principles in the United States of America, 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 revenue and expenses during the reporting period. Actual results could differ
from those estimates.
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include
cash and all highly liquid instruments with original maturities of three months or less.
REVENUE RECOGNITION
Revenues are recognized when control
of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects
to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate
amount of revenue to be recognized as it fulfills its obligations under each of its agreements:
* Identify the contract with a customer;
* Identify the performance obligations
in the contract;
* determine the transaction price;
* allocate the transaction price
to performance obligations in the contract; and
*
recognize revenue as the performance obligation is satisfied.
CONCENTRATION OF CREDIT RISK
The Company's financial instruments
that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the
near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular
financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength
and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are
limited.
NET INCOME (LOSS) PER SHARE
Basic income
(loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period.
Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents
and potentially dilutive securities outstanding during each period. At March 31, 2024, the Company does not have any outstanding common
stock equivalents; therefore, a separate computation of diluted loss per share is not presented.
INCOME
TAXES
The Company
accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities
and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using
enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the
change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it
is more likely than not that some or all of any deferred tax assets will not be realized.
RECENT ACCOUNTING PRONOUNCEMENTS
The Company does not expect the adoption
of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.
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v3.24.1.u1
2. INCOME TAXES
|
3 Months Ended |
Mar. 31, 2024 |
Income Tax Disclosure [Abstract] |
|
2. INCOME TAXES |
2.
INCOME TAXES
The Company has not yet realized
income as of the date of this report, and no provision for income taxes has been made. As of March 31, 2023, the Company had net operating
loss carry forwards of $115,386 that may be available to reduce future years’ taxable income. Future tax benefits which
may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely
to occur and accordingly, the Company has recorded a full valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.
|
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v3.24.1.u1
3. LINE OF CREDIT
|
3 Months Ended |
Mar. 31, 2024 |
Debt Disclosure [Abstract] |
|
3. LINE OF CREDIT |
3. LINE
OF CREDIT
The Company has available a line
of credit with an officer and shareholder that provided maximum borrowing up to $5,000,000 for working capital purposes. The
line of credit has no expiration date and is due on demand. Borrowings under the line of credit bear interest at 5% per annum.
As of March 31, 2024 and December 31, 2023, the Company had outstanding balance of $-0- on the line of credit.
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v3.24.1.u1
4. SUBSEQUENT EVENTS
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3 Months Ended |
Mar. 31, 2024 |
Subsequent Events [Abstract] |
|
4. SUBSEQUENT EVENTS |
4. SUBSEQUENT
EVENTS
Management has evaluated subsequent
events through the date which the financial statements are available to be issued. All subsequent events requiring recognition as of March
31, 2024 have been incorporated into these financial statements and there are no subsequent events that required disclose in accordance
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v3.24.1.u1
1. NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies)
|
3 Months Ended |
Mar. 31, 2024 |
Accounting Policies [Abstract] |
|
Basis of Presentation |
Basis of Presentation
The accompanying
unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in
the United States (“GAAP”) for interim financial reporting and in accordance with instructions for Form 10-Q and Article 10
of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contained in
this report reflect all adjustments that are normal and recurring in nature and considered necessary for a fair presentation of the financial
position and the results of operations for the interim periods presented. The year-end condensed balance sheet data was derived from audited
financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim period are not
necessarily indicative of the results expected for the full year. These unaudited, condensed consolidated financial statements, footnote
disclosures and other information should be read in conjunction with the financial statements and the notes thereto included in the Company’s
Registration Statement on Form 10-K for the year ended December 31, 2023.
|
ORGANIZATION AND NATURE OF BUSINESS |
ORGANIZATION
AND NATURE OF BUSINESS
Vanjia Corporation (formerly Vantone
Realty Corporation) , (the “Company”), was incorporated on August 19, 2011 in the State of Texas. The company has conducted
limited business operations since its inception. The Company's business plan is to build affordable homes in Houston, Texas. In 2018,
the Company has begun a business to enroll students for real estate licensing courses. The Company’s year-end is December 31.
|
USE OF ESTIMATES |
USE OF ESTIMATES
The preparation of financial statements
in conformity with generally accepted accounting principles in the United States of America, 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 revenue and expenses during the reporting period. Actual results could differ
from those estimates.
|
CASH AND CASH EQUIVALENTS |
CASH AND CASH EQUIVALENTS
Cash and cash equivalents include
cash and all highly liquid instruments with original maturities of three months or less.
|
REVENUE RECOGNITION |
REVENUE RECOGNITION
Revenues are recognized when control
of the promised goods or services are transferred to a customer, in an amount that reflects the consideration that the Company expects
to receive in exchange for those goods or services. The Company applies the following five steps in order to determine the appropriate
amount of revenue to be recognized as it fulfills its obligations under each of its agreements:
* Identify the contract with a customer;
* Identify the performance obligations
in the contract;
* determine the transaction price;
* allocate the transaction price
to performance obligations in the contract; and
*
recognize revenue as the performance obligation is satisfied.
|
CONCENTRATION OF CREDIT RISK |
CONCENTRATION OF CREDIT RISK
The Company's financial instruments
that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the
near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular
financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength
and credit worthiness of any parties to which it extends funds and as such, it believes that any associated credit risk exposures are
limited.
|
NET INCOME (LOSS) PER SHARE |
NET INCOME (LOSS) PER SHARE
Basic income
(loss) per share is computed by dividing net income by weighted average number of shares of common stock outstanding during each period.
Diluted income per share is computed by dividing net loss by the weighted average number of shares of common stock, common stock equivalents
and potentially dilutive securities outstanding during each period. At March 31, 2024, the Company does not have any outstanding common
stock equivalents; therefore, a separate computation of diluted loss per share is not presented.
|
INCOME TAXES |
INCOME
TAXES
The Company
accounts for income taxes in accordance with ASC 740, Income Taxes, which requires that the Company recognize deferred tax liabilities
and assets based on the differences between the financial statement carrying amounts and the tax basis of assets and liabilities, using
enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the
change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when, in the opinion of management, it
is more likely than not that some or all of any deferred tax assets will not be realized.
|
RECENT ACCOUNTING PRONOUNCEMENTS |
RECENT ACCOUNTING PRONOUNCEMENTS
The Company does not expect the adoption
of recently issued accounting pronouncements to have a significant impact on its result of operations, financial position or cash flow.
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