UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended September 30, ~~2016~~2019

☐ 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 : 000-26347

~~NextMark~~NextMart, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	~~410985135~~	41-0985135
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
State or Other Jurisdiction of Incorporation or Organization		I.R.S. Employer Identification No.

224 Datura St.

10119 E Winter Sun Drive
Scottsdale, AZ

85262

Address of Principal Executive Offices

Zip Code

~~West Palm~~Registrant’s ~~Beach~~telephone number, FLincluding area ~~33401~~code (602) 499 6992

(Address of Principal Executive Offices)

561-570-4301

(Issuer’s telephone number)

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

Title of each Class	Trading Symbol	Name of each exchange on which registered
Common and Preferred	NXMR	OTC MARKETS

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

N/A

(Title of Class)

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 15(d) of the ~~Exchange~~ 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 Securities Exchange Act of 1934 during the preceding 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 ☐ No ☒ *

* The registrant is a voluntary filer of reports required to be filed by certain companies under Section 13 or 15(d) of the Securities Exchange Act of 1934 and has filed all reports that would have been required to have been filed by the registrant during the preceding 12 months had it been subject to such filing requirements during the entirety of such period.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☐ No ☒

Indicate by check mark ifwhether ~~disclosure~~the ofregistrant is ~~delinquent~~a ~~filers~~large ~~pursuant~~accelerated tofiler, ~~Item~~an ~~405~~accelerated offiler, ~~Regulation~~a Snon-Kaccelerated (§filer, ~~229.405~~a ofsmaller ~~this~~reporting ~~chapter) is not contained herein~~company, ~~and~~or ~~will~~an ~~not~~emerging begrowth ~~contained,~~company. See to the ~~best~~definitions of ~~the~~“large ~~registrant’s~~accelerated ~~knowledge~~filer,” in“accelerated ~~definitive~~filer,” ~~proxy~~“smaller orreporting ~~information statements~~company,” ~~incorporated~~and by“emerging ~~reference~~growth company” in ~~Part~~Rule ~~III~~12b-2 of the ~~Form~~Exchange ~~10-K or any amendment to the Form 10-K~~Act. ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☒
	Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes ☐ No ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

AsState the aggregate market value of ~~December~~the voting ~~31,~~and ~~2018~~non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, ~~630~~or the average bid and asked price of such common equity,~~829,862~~ ~~shares~~ as of the ~~issuer'~~last business day of the registrant’s ~~Common~~most ~~Stock~~recently completed ~~were~~second ~~outstanding~~fiscal quarter. $0 as of September 27, 2021.

~~The~~As ~~aggregate~~of ~~market~~September ~~value~~26, of2021, the ~~voting Common~~Registrant ~~Stock~~had ~~held by non-affiliates on December 31~~374, ~~2018 was $756~~126,~~996~~367 ~~using~~shares ~~the~~of common ~~closing~~stock ~~price on $0~~outstanding.~~0012.~~

~~PART~~Explanatory INote

~~Item~~In 1accordance with the new 15c211 requirements the company is providing these interim statements until the matter is heard by the Nevada courts in the custodianship hearing. ~~Description~~New of15c211 ~~Business~~coming into effect September 28, 2021.

~~Overview~~2

WeNext ~~were~~Mart originally incorporated under the laws of Minnesota in 1972 and were previously known as SE Global Equity. In September 2005, we acquired 100% of the issued and outstanding share capital of Sun New Media Group Limited and changed the company name to Sun New Media, Inc. ~~In February 2006, we changed our fiscal year-end date from September 30 to March 31.~~

InBalance April 2007, we began to operate primarily as an outsourced brand management and production center for foreign apparel brands mainly in the women’s apparel industry through William Brand Administer Co. Ltd., (“William Brand”) our core operating subsidiary.Sheet

InAs ~~May~~at ~~2007,~~September ~~we reincorporated into the State of Delaware and changed our name to NextMart~~30, ~~Inc.~~2019 ~~On October 10, 2007, we changed our fiscal year end from March 31 to September 30.~~(Unaudited)

During fiscal year 2008, we had planned to develop an integrated online-offline direct sales platform for the ladies' apparel sector in China. However, during this time, our business and business strategy were adversely impacted in a material manner due to the appreciation of the Chinese currency (Yuan) against the US dollar (which resulted in US consumers paying higher prices for products manufactured in China), coupled with the economic malaise that affected the United States, our principal market. Accordingly, we were unable to meet our projected operating results and milestones for the various periods. The lack of operating results in turn keyed a price decline of our common stock. Due to the depressed price of our common stock together with the overall world-wide financial market turmoil, we were unable to raise the necessary funds to support our expansion strategy. Consequently in May 2008, as we have previously reported, we determined to change our business focus initially attempting to focus on the financial advisory/direct investments and we have since redirected this focus towards to the art-related industry in China.

	Notes	As at September 30, 2019 (Unaudited)
		($)
ASSETS
Current Assets
Cash and cash equivalents	4		2,973,945
Accounts receivable , net	5		4,198
Current assets held for sale	6		819,368

Total Current Assets			3,797,511

Long term assets held for sale	7		95,858
Property, plant and equipment, net	8		755

Total Assets			3,894,124

EQUITY & LIABILITIES

Current Liabilities
Other payables and accrued expense	9		700,750
Amount due to Stockholders	10		136,493
Amount due to related parties	11		578,913
Current liabilities held for sale	12		1,383,787

Total Current Liabilities			2,799,943

Convertible notes	18		770,228
Long term loan - convertible			180,000
Long term loan			40,000

Total Liabilities			3,790,171

SHAREHOLDERS’ EQUITY

Preferred stock; authorized 250,000,000 shares, par value US$0.01; none issued			10,000
Common stock; authorized 750,000,000 shares, par value US$0.01;			3,741,264
Reserved to be issued 53,029 shares			530
Subscription receivable			(750,000	)
Additional paid in capital			99,208,680
Accumulated deficit			(102,130,680	)
Accumulated other comprehensive loss - Other			24,159

Total Shareholders’ Deficit			103,953

Total Liabilities and Shareholders’ Equity			3,894,124

~~In September 2008, consistent with our re~~F-~~direction, we determined to divest ourselves of the William Brand’s women apparel business and other non-material businesses. In keeping that intent, on August~~ 1, 2009, we entered into a subscription and asset sale agreement with Beijing Hua Hui Hengye Investment Lt. (“Hua Hui”), an unaffiliated PRC company. Under the terms of the agreement, we received from Hua Hui the commercial income rights to 10,000 square meters the Huadun Changde International Hotel located in the city of Changde in China’s Hunan Province (“Project”), which was under construction. Hua Hui was responsible for all costs and expenses incurred in constructing the Project. Commercial income rights included the right to receive any and all income and proceeds derived from the commercial use of the Project in any capacity. As consideration, we agreed to issue to Hua Hui 250,000,000 shares of our common stock. As additional consideration, we also transferred to Hua Hui certain non-performing or discontinued assets, none of which were our core business or material assets. However, on March 3, 2010, the Company entered into a transaction termination agreement with Hua Hui wherein both companies agreed to terminate and rescind the subscription and asset sale agreement previously entered into by the parties on August 1, 2009. All considerations received by each party under the Original agreement were returned to the issuing party.

OnNext ~~March~~Mart 31, 2010, we entered into an Asset Exchange and Subscription Agreement with Ms. Wang Yihan and Beijing Chinese Art Exposition's Media Co., Ltd. (“CIGE”), a leading Chinese art services, events and media company located in Beijing, China. Ms. Wang is the sole shareholder of CIGE. The agreement was effective on March 31, 2010 and was amended on May 10. Under the amended agreement NextMart agreed to sell directly to Ms. Wang the following assets (“Transferred Assets”) (See Note 13): 1) 100% of the shares of William Brand Administer Ltd, a BVI registered company and a wholly owned subsidiary of NextMart; 100% of the shares of Credit Network 114 Limited, a BVI registered company and a wholly owned subsidiary of NextMart; 2) 100% of NextMart’s 60% shareholdings in Wuxi Sun Network Technology Ltd., a PRC registered company; 3) 100% of NextMart’s 80% shareholdings in Naixiu Exhibition Ltd., a PRC registered company; 4) the net assets of NextMart’s 100% owned subsidiary Cancer Institute of China Ltd (a BVI registered company) and its 100% owned subsidiary China Cancer Institute Beijing Ltd. (a PRC registered company). The net assets being sold do not include the subsidiaries cash, office furniture and equipment, and third party creditor’s rights and third party debts, which shall remain the subsidiaries’ property and 5) any other net assets and liabilities belonging to NextMart, with the exception of its 3,000 shares of China Grand Resorts Inc. ~~common stock and its remaining liability under the convertible bond settlement agreement. On that same date, Ms. Wang was appointed our Chairman and Chief Executive Officer.~~

1Statement of Profit and Loss

AsFor ~~consideration for~~ the ~~transfer~~year ofended ~~the~~September ~~above described assets~~30, ~~Ms.~~ Wang agreed to transfer to NextMart certain land use rights for commercial real estate property within 24 months from date of the amended agreement. The value of the land use rights will be determined by an appraisal conducted by a licensed third party appraiser acceptable to both parties. In the PRC, there is no private land ownership. Rather, land in the PRC is owned by the government and cannot be sold to any individual or entity. The government grants or allocates landholders a “land use right,” which is sometimes referred to informally as land ownership. Land use rights are granted for specific purposes and for limited periods. Each period may be renewed at the expiration of the initial and any subsequent terms. Granted land use rights are transferable and may be used as security for borrowings and other obligations.2019

In the event Ms. Wang fails to provide land use rights for adequate real estate property within the 24 month period, she is obligated to provide NextMart with common stock of a publicly traded company acceptable to NextMart.

	Notes	For the year ended September 30, 2019

			(Amount in $)

Revenue			–
Cost of sales			–
Gross profit			–

Operating expenses
General and administrative			(87,714	)
Depreciation and amortization			(360	)
Consulting and professional fees			(64,112	)

Income / (Loss) from operations			(152,186	)

Other Income / (expense)
Amortization of discount on convertible notes			(69,872	)
Interest expense			(26,616	)

Loss from continuing operations before tax			(248,674	)

Income tax			–

Loss from continuing operations			(248,674	)
Loss from held for sale operations			–

Net Loss			(248,674	)

Other Comprehensive income / (loss):
Foreign currency translation adjustment			52,676
Unrealized gain (loss)			–

Total Comprehensive income / (loss)			(195,998	)

On June 22, 2010, the Company entered into an asset acquisition agreement (the “Acquisition Agreement”) with CIGE and Ms. Wang Yihan. Under the terms of the Acquisition Agreement, NextMart is going to acquire from CIGE the below described assets for an agreed price of $750,000 (the “Consideration”). NextMart agreed to pay the Consideration by issuing to Ms. Wang 75,000,000 shares of its common stock. As a result of this transaction, Ms. Wang will become NextMart’s second largest shareholder with a 27.96% ownership of the company. Under the terms of the Acquisition Agreement, CIGE sold to NextMart the following assets (the “Assets”): 1) ownership of CIGE’s 10,000 member consumer database, F-2) exclusive ownership of all advertising space for every art exhibition event held by CIGE in greater China (including Hong Kong and Macao, and Taiwan) for the next 30 years, and 3) exclusive ownership of the "Gallery Guide" brand name and all gross revenues generated by the magazine publication for the next 30 years, including but not limited to advertising revenue and sponsorship revenue. The agreement further provides that if for any reason or under any circumstance during the next 30 years CIGE ceases holding any of its exhibitions or ceases publishing the Gallery Guide, NXMR shall have the right to buy those exhibitions and “Gallery Guide” brand name for the price of $1 each from CIGE.

AsNext aMart result, NextMart’s planned business operations for 2011 consisted of 1) art event and art media direct marketing, and 2) the design and marketing of art-themed products lines for existing luxury and high-end goods and services, and art themed real estate developmentsInc.

OnStatement June 22, 2010, NextMart also entered into a strategic cooperative agreement (“Strategic Agreement”) with its shareholder Sun Media Investment Holdings Ltd. (“SMIH”) and with Redrock Land Investment Ltd. (“Redrock Land”), an affiliate of ~~the~~Shareholders' Company’s major shareholder Redrock Capital Venture Ltd. (“Redrock”). Under the Redrock Land Strategic Agreement, Redrock Land will provide NextMart a $1,000,000 interest free, unsecured loan in 12 months. The loan is due on demand any time after the first anniversary of this agreement. As of September 30, 2010, the loan has not been provided to the Company. Redrock Land also has agreed that within the next 24 months, it will partner with NextMart on three of its real estate development projects that will be art related. For each such project, NextMart will act as the project’s concept, marketing, and sales consultant. Redrock Land is a BVI registered company engaged in land investment and development in China and it typically co-invests with real estate developers to acquire land and launch development projects. As part of its cooperation with NextMart, Redrock Land will secure land and developing partners for three art related developments for which NextMart will provide consulting service to the developers. Under the Strategic Agreements, SMIH has agreed to provide NextMart with approximately $6,000,000 worth of advertising space over the next five years in various media outlets owned by it or its affiliates. The $6,000,000 worth of advertising space will be allocated to NextMart such that every year for 5 succeeding years. NextMart will have access to $1,200,000 in advertising space in various print magazines and online websites and e-magazines owned by SMIH or its affiliates each year. Such advertising space will be subject to availability and market prices, and the Company intends to limit the use of the advertising space to market its Artslux products. Equity

~~Our~~As ~~Current~~at ~~Business~~September ~~Strategy~~30, 2019 (Unaudited)

Going forward, our business operations will include: 1) art event and art media direct marketing; and 2) design and marketing of art-themed products lines created for existing luxury and high-end goods and brands and art themed real estate developments.

Series A - Preferred Stock

Common Stock

Reserves

Subscription Receivable

Additional Paid in capital

Accumulated Profit / (Deficit)

Total Stockholders' Equity

Shares

Amount

Shares

Par

Amount in $

As at September 30, 2018 (Unaudited)

1,000,000

10,000

513,936,361

5,139,364

530

(750,000

)

99,208,680

(101,934,682

)

1,673,891

Buy back of shares

(139,809,994

)

(1,398,100

)

(1,398,100

)

Profit / (loss) for the period

(195,998

)

(195,998

)

As at September 30, 2019 (Unaudited)

1,000,000

10,000

374,126,367

3,741,264

530

(750,000

)

99,208,680

(102,130,680

)

79,793

2F-3

~~Competition~~Next ~~and~~Mart ~~Market Data~~Inc.

InStatement our proposed art business strategy, we will face competition from other companies located in China that are more established with more financial resources. However, we believe that we can compete in the market due to the uniqueness of ~~our~~Cash product marketing method and activities. Although many of the products are offered elsewhere by individual providers, there is no centralized channel to offer all of the products proposed by our company.Flows

~~Proprietary~~As ~~Rights~~at September 30, 2019 (Unaudited)

As of the date of this Report, we do not have our own intellectual property rights.

	2019
	$
Cash flow from operating activities

(Loss) / profit before income tax		(195,998	)

Adjustment for non cash charges and other items:

Amortization of discount on convertible notes		69,872
Amortization and depreciation		360

		(125,766	)
Changes in working capital

Decrease / (increase) in accounts receivables		801
(Decrease) / increase in Other payables and accrued expenses		63,836
(Decrease) / increase in amount due to Stockholders		12,435
(Decrease) / increase in liabilities held for sale		126,061
(Decrease) / increase in amount due to related parties		52,738
		255,871


Cash flow from operating activities		130,105

Cash flow from investing activities

Net additions in assets Held for sale		174,404
Additions in property, plant and equipment		–

Cash flow from / (used) in investing activities		174,404

Cash flow from financing activities

Proceeds from convertible notes issued		–
Proceeds from issuance of common stock		–
Buy back of shares		(1,398,100	)

Cash flow from financing activities		(1,398,100	)

Increase/(decrease) in cash and cash equivalents		(1,093,591	)

Foreign currency translation adjustment

Cash and cash equivalents at beginning of the year		4,067,536

Cash and cash equivalents at end of the year		2,973,945

~~Employees~~F-4

AsNext ofMart ~~December~~Inc. Notes ~~2018,~~to the ~~Company~~Financial asStatements For nothe ~~employees.~~year ended September 30, 2019

~~Item 1A~~1. ~~Risk~~LEGAL ~~Factors~~STATUS AND OPERATIONS

~~Risks~~"NextMart, ~~Related~~Inc. (the Company) was originally incorporated under the laws of Minnesota in 1972 and was previously known as SE Global Equity. In September 2005, the Company acquired 100% share capital of Sun New Media Group Limited and changed its name to ~~Our~~Sun New ~~Business~~Media, Inc. In May 2007, the Company reincorporated into the State of Delaware and changed its name to NextMart, Inc.

~~There~~On isMarch ~~substantial~~31, ~~doubt~~2010, ~~about~~the Company ~~our~~entered ~~ability~~into toan ~~continue~~asset exchange and subscription agreement with Ms. Wang Yihan (“Ms. Wang”) and Beijing Chinese Art asExposition's Media Co., Ltd. (“CIGE”), a ~~going~~leading ~~concern~~Chinese art services, events media company located in Beijing, China. In exchange for the Transferred Assets, Ms. Wang agreed to transfer to NextMart certain land use rights for commercial real estate property within 24 months from date of the amended agreement.

~~Our~~On ~~independent~~June ~~public~~22, ~~accounting~~2010, ~~firm~~the ~~has~~Company ~~issued~~entered into an ~~opinion on~~asset ~~our~~acquisition ~~consolidated~~agreement ~~financial statements that states that~~ (the ~~consolidated financial statements were prepared assuming we will~~“Acquisition ~~continue~~Agreement”) aswith aCIGE ~~going concern~~ and ~~further~~its ~~states~~sole ~~that~~owner ~~our~~and ~~recurring~~director ~~losses~~Ms. ~~from operations~~Wang, ~~stockholders’~~who ~~deficit~~is ~~and~~also ~~inability to~~NextMart’s ~~generate~~Chairman ~~sufficient cash flow to meet our obligations~~ and ~~sustain~~CEO. ~~our~~Under ~~operations~~the ~~raise~~terms ~~substantial~~of the ~~doubt~~Acquisition ~~about~~Agreement, ~~our~~NextMart ~~ability~~is ~~to continue as a~~ going ~~concern.~~to ~~Our~~acquire ~~plans~~from ~~concerning~~CIGE ~~these matters are discussed in “Liquidity and Capital Resources” of~~ the ~~Management’s~~below ~~Discussion~~described ~~and~~Assets ~~Analysis~~for ofan ~~Financial~~agreed ~~Condition~~price ~~and Results~~ of ~~Operations~~$750,000 in(the ~~Item 7 of this Form~~“Consideration”). ~~10-K~~NextMart ~~and~~paid ~~Note 15 to~~ the ~~accompanying~~Consideration ~~audited~~by ~~consolidated~~issuing ~~financial~~75,000,000 ~~statements.~~shares ~~Our~~of ~~future~~its iscommon ~~dependent~~stock ~~on our ability~~ to ~~execute our~~Ms. ~~plans successfully or otherwise address these matters~~Wang. IfAs wea ~~fail~~result toof dothis ~~so for any reason~~transaction, weMs. ~~would not be able to continue~~Wang asbecame aNextMart’s ~~going~~second ~~concern~~largest ~~and~~shareholder ~~could~~with ~~potentially be forced to seek relief through~~ a ~~filing~~27.96% ~~under~~ownership of the UCompany.~~S. Bankruptcy Code.~~

~~Risks~~Under ~~Related~~the toterms ~~Our~~of ~~Corporate~~the ~~Structure~~ Acquisition Agreement, NextMart acquired the following assets:

~~Chinese~~1) ~~laws~~ownership ~~and regulations governing our businesses and the validity~~ of ~~certain~~CIGE’s ~~of our contractual arrangements are uncertain. If we are found to be in violation~~10,000 wemember ~~could~~consumer ~~be subject to sanctions. In addition~~database, ~~changes in such Chinese laws and regulations may materially and adversely affect our business.~~

~~Although~~2) weexclusive ~~are~~ownership aof ~~Delaware corporation,~~ all ~~of our operations~~advertising ~~and~~space ~~employees~~for ~~are~~every ~~located~~art inexhibition ~~Greater~~event ~~China~~held ~~region,~~by ~~especially~~CIGE in ~~the~~greater ~~mainland.~~China As(including ~~such,~~Hong ~~there~~Kong ~~are substantial uncertainties regarding the interpretation~~ and ~~application of Chinese laws and regulations~~Macao, ~~including, but not limited to, the laws~~ and ~~regulations~~Taiwan) ~~governing our~~for ~~business, or~~ the ~~enforcement~~next ~~and~~30 ~~performance of our contractual arrangements with certain of our affiliated Chinese entities. We are considered foreign persons or foreign invested enterprises under Chinese law. As a result~~years, ~~we are subject to Chinese law~~ ~~limitations on foreign ownership of Internet~~ and advertising companies. These laws and regulations are relatively new and may be subject to change, and their official interpretation and enforcement may involve substantial uncertainty. The effectiveness of newly enacted laws, regulations or amendments may be delayed, resulting in detrimental reliance by foreign investors. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively.

~~The~~3) ~~Chinese~~exclusive ~~government~~ownership ~~has broad discretion in dealing with violations~~ of ~~laws~~the ~~and~~""Gallery ~~regulations,~~Guide"" ~~including~~magazine ~~levying~~brand ~~fines,~~name ~~revoking business~~ and ~~other~~all ~~licenses~~gross ~~and~~revenues ~~requiring~~generated ~~actions necessary for compliance. In particular, licenses and permits issued or granted to us~~ by ~~relevant~~the ~~governmental~~magazine ~~bodies~~publication ~~may be revoked at~~for ~~a later time by higher regulatory bodies. We cannot predict~~ the ~~effect~~next of30 the interpretation of existing or new Chinese laws or regulations on our businesses. We cannot assure you that our current ownership and operating structure would not be found in violation of any current or future Chinese laws or regulations. As a resultyears, ~~we may be subject to sanctions,~~ including ~~fines,~~but ~~and~~not ~~could be~~limited ~~required~~ to ~~restructure~~advertising ~~our~~revenue operations or cease to provide certain services. Any of these or similar actions could significantly disrupt our business operations or restrict us from conducting a substantial portion of our business operations, which could materially and ~~adversely~~sponsorship ~~affect our business, financial condition and results of operations~~revenue."

32. BASIS OF PREPARATION

~~Risks~~2.1 ~~Related~~Statement toof ~~Doing Business in China~~compliance

The ~~PRC~~accompanying ~~laws~~financial ~~and~~statements ~~regulations~~have ~~governing~~been ~~the~~prepared ~~Company’s current~~in ~~business~~conformity ~~operations~~with ~~are~~accounting ~~sometimes~~principles ~~vague~~generally ~~and~~accepted ~~uncertain.~~in ~~Any~~the ~~changes~~United States inof ~~such~~America ~~PRC~~and ~~laws~~pursuant to the rules and regulations ~~may~~of ~~have~~the aSecurities ~~material~~ and ~~adverse~~Exchange ~~effect~~Commission ("SEC") on ~~the~~a ~~Company’s~~going ~~business~~concern.

There are substantial uncertainties regarding the interpretation and application of PRC laws and regulations, including but not limited to the laws and regulations governing our business, or the enforcement and performance of our arrangements with customers in the event of the imposition of statutory liens, death, bankruptcy and criminal proceedings2.2 WeAccounting and any future subsidiaries are considered foreign persons or foreign funded enterprises under PRC laws, and as a result, we are required to comply with PRC laws and regulations. These laws and regulations are sometimes vague and may be subject to future changes, and their official interpretation and enforcement may involve substantial uncertainty. The effectiveness of newly enacted laws, regulations or amendments may be delayed, resulting in detrimental reliance by foreign investors. New laws and regulations that affect existing and proposed future businesses may also be applied retroactively. We cannot predict what effect the interpretation of existing or new PRC laws or regulations may have on our businesses.Convention

~~Risks~~These ~~Related~~financial tostatements ~~Our~~have ~~Common~~been ~~Stock~~prepared on the basis of 'historical cost convention using accrual basis of accounting except as otherwise stated in the respective accounting policies notes.

~~There~~Going ~~has been only a limited public market for our common stock to date.~~concern

To"The ~~date,~~accompanying ~~there~~unaudited ~~has~~financial statements have been ~~only~~prepared aon ~~limited~~the ~~public~~assumption ~~market~~that ~~for~~the ~~our common~~Company ~~stock~~will oncontinue ~~the~~as ~~Over-the-Counter~~a ~~Bulletin~~going ~~Board~~concern. The ~~Our~~Company ~~common~~historically ~~stock~~has isexperienced ~~currently~~significant ~~not~~losses ~~listed~~and onnegative ~~any~~cash ~~exchange~~flows from operations. IfFurther, anthe ~~active~~Company ~~trading~~does not have ~~market~~a ~~for~~revolving ~~our~~credit ~~common~~facility ~~stock~~with ~~does~~any ~~not~~financial ~~develop,~~institution. ~~the~~These ~~market~~factors ~~price~~raise ~~and~~substantial ~~liquidity~~doubt ofabout ~~our~~the ~~common~~Company’s ~~stock~~ability ~~will~~to continue beas ~~materially~~a ~~and~~going ~~adversely affected~~concern.

~~Item~~The 1Bability of the Company to continue as a going concern is dependent on raising additional capital, negotiating adequate financing arrangements and on achieving sufficiently profitable operations. ~~Unresolved~~The ~~SEC~~financial ~~Comments~~statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern."

~~Not applicable~~2.3 Critical accounting estimates and judgements

~~Item~~The 2preparation of financial statements in conformity with the approved accounting standards require management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The ~~Properties~~estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

~~Our premises are located at 224 Datura Street, West Palm Beach, Florida, 33401 USA.~~F-5

~~Item~~The 3estimates and underlying assumptions are reviewed on an ongoing basis. ~~Legal~~Revisions ~~Proceedings~~to accounting estimates are recognised in the period in which the estimates are revised if the revision affects only that period, or in the period of the revision and future periods.

WeThe ~~are~~areas ~~not~~involving ~~aware~~higher degree of ~~any~~judgment ~~pending~~and ~~legal~~complexity, ~~proceedings~~or ~~against~~areas ~~us. We~~where ~~may~~assumptions inand ~~future~~estimates bemade ~~party~~by ~~to litigation arising in~~ the ~~course~~management ofare ~~our business. Such claims, even if not meritorious, could result~~significant into the ~~expenditure of significant~~ financial ~~and~~statements ~~managerial~~are ~~resources.~~as follows:

~~Item~~i) 4.Equipment ~~Submissions~~- estimated useful life of ~~Matters~~property, toplant aand ~~Vote~~equipment of(note ~~Security~~- ~~Holders~~3.8)

~~None~~ii) Provision for doubtful debts (note - 3.4)

~~Part~~iii) Provision IIfor income tax (note - 3.1)

~~Item~~3 5.SUMMARY ~~Market~~OF ~~for~~SIGNIFICANT ~~Registrant’s~~ACCOUNTING ~~Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.~~POLICIES

As3.1 ofIncome ~~May 2007, our common stock was quoted on the Over the Counter Bulletin Board under the symbol “NXMR” and we had 439 shareholders of record as of March 21, 2012.~~tax

~~Dividend~~The ~~Policy~~tax expense for the year comprises of income tax, and is recognized in the statement of earnings. The income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

WeDeferred ~~have~~income ~~never~~tax ~~paid~~is ~~any~~accounted ~~cash~~for ~~dividends~~using ~~and~~the dobalance ~~not~~sheet ~~anticipate~~liability method in respect of all temporary differences arising from ~~paying~~differences ~~cash~~between ~~dividends~~the carrying amount of assets and liabilities in the ~~foreseeable~~financial ~~future~~statements and the corresponding tax bases used in the computation of taxable profit. Deferred income tax liabilities are recognised for all taxable temporary differences and deferred income tax assets are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and unused tax losses can be utilized. Deferred income tax is calculated at the rates that are expected to apply to the period when the differences are expected to be reversed.

~~Securities~~3.2 ~~authorized~~Trade ~~for~~and ~~issuance~~other ~~under equity compensation plans~~payables

AsLiabilities offor ~~the~~trade ~~date~~and ofother ~~this~~amounts ~~report~~payable are carried at cost, wewhich dois ~~not~~the ~~have~~fair ~~any~~value ~~securities authorized~~of ~~for~~the ~~issuance~~consideration ~~under~~to ~~any~~be ~~equity~~paid ~~compensation~~in ~~plans~~future for goods and weservices doreceived, ~~not~~whether ~~have~~or ~~any~~not ~~equity~~billed ~~compensation~~to ~~plans~~the Company.

43.3 Provisions

~~Sales~~A provision is recognized in the financial statements when the Company has a legal or constructive obligation as a result of ~~Unregistered~~past ~~Securities~~events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation.

~~None~~3.4 Accounts Receivable

~~Repurchase~~Accounts receivable are non-interest bearing obligations due under normal course of ~~Equity~~business. ~~Securities~~The management reviews accounts receivable on a monthly basis to determine if any receivables will be potentially uncollectible. Historical bad debts and current economic trends are used in evaluating the allowance for doubtful accounts. The Company includes any accounts receivable balances that are determined to be uncollectible in its overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of period ended is adequate.

We3.5 ~~did~~Contingent ~~not repurchase any securities within the fiscal year ended September 30, 2016.~~liabilities

~~Item~~A 6.contingent ~~Selected~~liability ~~Financial~~is ~~Data~~disclosed when the Company has a possible obligation as a result of past events, the existence of which will be confirmed only by the occurrence or non-occurrence, of one or more uncertain future events, not wholly within the control of the Company; or when the Company has a present legal or constructive obligation, that arises from past events, but it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation, or the amount of the obligation cannot be measured with sufficient reliability.

~~Not applicable.~~F-6

~~Item 7~~3.6 ~~Management's Discussion and Analysis of~~ Financial ~~Condition and Results of Operations.~~liabilities

~~The~~Financial ~~information~~liabilities inare ~~this~~recognized ~~discussion~~when ~~contains forward-looking~~the ~~statements~~Company ~~that~~becomes ~~are~~party ~~subject~~ to ~~risks~~the ~~and~~contractual ~~uncertainties,~~provision ~~and which speak only as~~ of the ~~date~~instruments ofand ~~this~~the ~~annual~~Company ~~report.~~loses Nocontrol ~~one~~of ~~should~~the ~~place~~contractual ~~strong~~right orthat ~~undue~~comprise ~~reliance~~the onfinancial ~~any~~liability ~~forward~~when ~~looking~~the ~~statements.~~obligation ~~The Company’s~~specified ~~actual~~in ~~results~~the orcontract ~~actions~~is ~~may differ materially from these forward-looking statements for many reasons~~discharged, ~~including~~cancelled ~~the~~or ~~risks~~expired. ~~described~~The inCompany ~~Item~~classifies 1Aits ~~and~~financial ~~elsewhere~~liabilities in ~~this~~two ~~annual~~categories: ~~report.~~at ~~This~~fair ~~Item~~value ~~should~~through beprofit ~~read~~or ~~in conjunction~~loss ~~with~~and ~~the~~ financial liabilities ~~statements~~measured ~~and~~at ~~related~~amortized ~~notes~~cost. ~~and~~The ~~with~~classification ~~the~~depends ~~understanding~~on ~~that~~ the ~~Company’s~~purpose ~~actual~~for ~~future results~~which ~~may~~the befinancial ~~materially~~liabilities ~~different~~were ~~from~~incurred. ~~what~~Management determines isthe ~~currently~~classification ~~expected~~of orits ~~projected~~financial byliabilities ~~the~~at ~~Company~~initial recognition.

~~Overview~~(a) Financial liabilities at fair value through profit or loss

~~Prior~~Financial toliabilities ~~fiscal~~at ~~year~~fair ~~2008,~~value wethrough ~~had~~profit ~~planned~~or toloss ~~develop~~are anfinancial ~~integrated online-offline~~liabilities ~~direct~~held ~~sales platform~~ for ~~the ladies' apparel sector in China involving William Brand Administer Co~~trading. ~~Ltd.~~A ~~However, our~~financial ~~business~~liability ~~and~~is ~~business strategy were adversely impacted in a material manner due to the appreciation of the Chinese currency~~classified ~~(Yuan) against the US dollar (which resulted~~ in USthis ~~consumers~~category ~~paying~~if ~~higher~~incurred ~~prices~~principally for ~~products manufactured in China), coupled with an already weak US retail market. Accordingly, we were unable to meet our projected operating results and milestones for~~ the ~~various~~ ~~periods.~~purpose ~~The lack~~ of ~~operating~~trading ~~results~~or ~~adversely~~payment ~~impacted~~in ~~our stock price during~~ the ~~applicable periods. Due to the depressed price of our common stock together with the overall world~~short-~~wide financial market turmoil, we were unable to raise the necessary funds to support our expansion strategy~~term. ~~Consequently~~Derivatives in(if ~~May~~any) ~~2008,~~are wealso ~~determined to change our business focus initially attempting~~categorized toas ~~focus~~held onfor ~~the~~trading ~~financial~~unless ~~advisory/direct~~they ~~investments,~~are ~~and~~designated thereafter, redirecting this focus towards the healthcare industry in China. Following our transaction with Hua Hui in August 2009, our business strategy was to develop a network of upscale, private member health clubs in the PRC. However as ~~noted above, on March 3, 2009 the Company and Hua Hui rescinded the transaction~~hedges.

As a result of our recent transaction with CIGE and Ms. Wang Yihan, as amended, our future business strategy is art event and art media direct marketing, direct sales of art products and art-themed luxury goods, and marketing and sales for art related real estate development projects. (~~Please refer to a detailed description of our proposed business contained in our Form 8-K filing dated June 23, 2010, as amended on July 1, 2010~~b). AsFinancial ~~mentioned~~liabilities ~~herein, we~~measured ~~intend~~at toamortized capitalize on our CIGE relationship as well as the experience, brand recognition, and resource integration capacities of our major shareholders, including Ms. Wang, Redrock Capital Venture, Ltd., and Sun Media Investment Holdings Limited. We will begin developing our business in 2011 by launching the “Artslux” branded products.cost

~~Going~~These ~~forward,~~are ~~our~~non-derivative ~~business~~financial ~~operations~~liabilities ~~will~~with ~~include:~~fixed ~~art~~or ~~event and~~determinable ~~art~~payments ~~media~~that ~~direct~~are ~~marketing;~~not ~~design~~quoted ~~and~~in ~~marketing~~an ofactive ~~art-themed~~market. ~~products~~These ~~lines~~are recognized ~~created~~initially ~~for~~at ~~existing~~fair ~~luxury~~value, net of transaction costs incurred and ~~high-end~~are ~~goods~~subsequently stated at amortized cost; any difference between ~~and~~the ~~brands~~proceeds (net of transaction costs) and ~~art~~the ~~themed~~redemption ~~real~~value ~~estate~~is ~~developments~~recognized in the profit and loss account.

~~We remind investors that our plans to re-focus our business to participate in the art and high-end industry in China are subject to substantial risks and uncertainties~~3. ~~We have not made substantial progress in reaching our objectives~~6.1 We"Derivative ~~can~~financial ~~not~~instruments ~~predict whether we will be successful in identifying, selecting~~ and ~~investing~~hedge ~~in business,~~accounting technologies, or treatments that will prove successful in our new business efforts. Our efforts will be subject to our ability to raise additional funds (which in turn will cause dilution to existing stockholders), formal agreements with numerous parties, and various approvals. Therefore, we can not predict with certainty whether we will be successful in our re-structuring efforts and the exact combination of efforts required to achieve success."

5"Derivatives are recognised initially at fair value, any directly attributable transaction costs are recognised in profit or loss as they are incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit and loss account. The Company also holds derivative financial instruments to hedge its foreign currency exposures. Embedded derivatives are separated from the host contract and accounted for separately if certain criteria are met."

~~Item~~(a) ~~7A.~~Fair ~~Quantitative~~value ~~And Qualitative Disclosures About Market Risk~~hedge

~~Not~~Derivatives ~~Applicable~~which are designated and qualify as fair value hedge, changes in the fair value of such derivatives are recorded in the profit and loss account, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

~~Item~~(b) 8.Cash ~~Financial~~flow ~~Statements and Supplementary Data~~hedges

~~Reference~~When a derivative is ~~made~~designated toas cash flow hedging instrument, the ~~Index~~effective toportion of changes in the ~~audited~~fair ~~consolidated~~value ~~financial~~of the derivative ~~statements~~is onrecognised ~~Page~~in ~~F-1~~other ~~for~~comprehensive ~~our~~income ~~audited~~and ~~consolidated~~accumulated ~~financial~~in ~~statements~~the ~~and~~hedging ~~notes~~reserve. ~~thereto~~Any ~~and~~ineffective ~~supplementary~~portion ~~schedules~~of changes in the fair value of the derivative is recognised immediately in profit or loss.

~~Item~~"The 9.amount ~~Changes~~accumulated Inin ~~and~~equity ~~Disagreements~~is ~~with~~retained ~~Accountings~~in onother ~~Accounting~~comprehensive income and ~~Financial~~reclassified ~~Disclosure~~to profit or loss in the same period or periods during which the hedged item affects profit or loss.

~~None~~If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated or exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, then the amount accumulated in equity is reclassified to profit or loss."

~~Item 9A. Controls and Procedures.~~F-7

~~Evaluation~~3.7 ofProperty, ~~Disclosure~~plant ~~Controls~~ and ~~Procedures~~equipment

WeAll ~~maintain~~equipments ~~disclosure~~are ~~controls~~stated ~~and~~at ~~procedures~~cost ~~(as~~less ~~defined~~accumulated ~~in Rule~~depreciation ~~13a-15(e)~~and ~~under~~impairment ~~the~~loss. ~~Exchange~~The ~~Act)~~cost ~~that~~of ~~are~~fixed ~~designed~~assets toincludes ~~ensure that information that would be required to be disclosed in Exchange~~its ~~Act~~purchase ~~reports is recorded~~price, ~~processed,~~import ~~summarized~~duties and ~~reported~~non-refundable ~~within~~purchase ~~the~~taxes ~~time period specified in the SEC’s rules~~ and ~~forms, and~~any ~~that~~directly ~~such~~attributable ~~information~~costs isof ~~accumulated~~bringing ~~and~~the ~~communicated~~asset to ~~our~~its working ~~management,~~condition ~~including to our Chief Executive Officer~~ and ~~Chief Financial~~location ~~Officer,~~for asits ~~appropriate,~~intended ~~to allow timely decisions regarding required disclosure~~use.

AsDepreciation ~~required~~on byadditions ~~Rule~~to ~~13a-15~~property, ~~under~~plant ~~the~~and ~~Exchange~~equipment ~~Act~~is charged, ~~our~~using ~~management~~straight line method, on pro rata basis from the ~~including~~month ~~our~~in ~~Chief~~which ~~Executive~~the ~~Officer~~relevant ~~and~~asset ~~our~~is ~~Chief~~acquired ~~Financial~~or ~~Officer~~capitalized, ~~evaluated~~up to the ~~effectiveness~~month ofin which the ~~design~~asset ~~and~~is ~~operation~~disposed off. Impairment loss, ofif ~~our~~any, ~~disclosure~~or ~~controls~~its ~~and~~reversal, ~~procedures~~is asalso ofcharged ~~September~~to ~~30,~~income ~~2016~~for the year. ~~Based~~Where onan ~~that~~impairment ~~evaluation~~loss is recognized, wethe ~~concluded~~depreciation ~~that,~~charge ~~because~~is ofadjusted ~~the~~in ~~material~~future ~~weaknesses~~periods ~~described~~to ~~below,~~allocate asthe ofasset’s ~~September~~revised ~~30,~~carrying ~~2016~~amount, ~~our~~less ~~disclosure~~its ~~controls~~residual ~~and~~value, ~~procedures~~over ~~were~~its ~~not~~estimated ~~effective~~useful life.

~~Management’s~~Maintenance ~~Annual~~and ~~Report~~normal onrepair ~~Internal~~costs ~~Control~~are ~~over~~expensed out as and when incurred. Major renewals and improvements are capitalized and assets ~~Financial~~so ~~Reporting~~replaced, if any are retired.

~~Management~~Gains ~~is responsible for establishing~~ and ~~maintaining~~losses ~~adequate internal~~on ~~control~~disposal ~~over financial reporting for the Company. Internal control over financial reporting refers to the process designed by, or under the supervision~~ of, ~~our~~fixed ~~chief executive officer and chief financial officer~~assets, ~~and~~if ~~effected by our Board of Directors~~any, ~~management~~ ~~and~~are ~~other~~recognized ~~personnel,~~in tostatement ~~provide reasonable assurance regarding the reliability~~ of ~~our~~profit ~~financial reporting~~ and ~~the preparation of financial statements for external purposes in accordance with U~~loss.~~S. GAAP, and includes those policies and procedures that:~~

-3.8 ~~pertain~~Cash ~~to the maintenance of records that in reasonable detail accurately~~ and ~~fairly~~cash ~~reflect the transactions and dispositions of our assets;~~equivalents

-Cash ~~provide~~and ~~reasonable~~cash ~~assurance~~equivalents ~~that~~include ~~transactions~~cash ~~are~~in ~~recorded as~~hand ~~necessary~~and todeposits ~~permit~~held ~~preparation~~at ofcall ~~financial~~with ~~statements~~banks. inFor ~~accordance~~the ~~with~~purpose ~~U.S.~~of ~~GAAP~~the statement of cash flows, cash and ~~that~~cash ~~our~~equivalents ~~receipts~~bank balances and ~~expenditures are~~short ~~being~~term ~~made~~highly ~~only~~liquid ininvestments ~~accordance~~subject ~~with~~to ~~the~~an ~~authorization~~insignificant risk of ~~our~~changes ~~management~~in value and ~~directors;~~with ~~and~~maturities of less than three months.

-3.9 ~~provide~~Revenue ~~reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.~~recognition

~~Management~~"The ~~conducted~~Company’s anrevenues ~~evaluation~~are ofderived principally from utilizing new technology in the ~~effectiveness~~medical ~~of our~~alarm ~~internal~~industry ~~control~~to ~~over~~provide ~~financial~~24-hour personal ~~reporting~~response asmonitoring ofservices ~~September~~and ~~30,~~related ~~2016~~products ~~based~~to onsubscribers ~~the~~with ~~framework~~medical ~~set~~or ~~forth~~age-related inconditions. ~~the~~The ~~report~~Company ~~entitled~~recognizes ~~Internal~~revenue ~~Control~~when -it ~~Integrated~~is ~~Framework~~realized ~~issued~~or byrealizable ~~the~~and ~~Committee~~earned. ofThe ~~Sponsoring~~Company ~~Organizations~~considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement that the ~~Treadway~~services ~~Commission.~~have ~~Based on~~been rendered to the ~~evaluation~~customer, ~~management~~the ~~concluded~~sales ~~that~~price ~~our~~is ~~internal~~fixed ~~control~~or ~~over~~determinable, ~~financial~~and ~~reporting~~collectability is asreasonably ofassured. ~~September~~All ~~30,~~revenues ~~2016~~from ~~was~~subscription ~~not~~arrangements ~~effective~~are recognized ratably over the term of such arrangements. The excess ~~Management~~of ~~identified~~amounts received over the ~~following~~income ~~material~~recognized ~~weaknesses~~is recorded as ofdeferred ~~September~~revenue ~~30,~~on ~~2016:~~the consolidated balance sheet."

~~- Lack of Internal Audit Function - We lack qualified resources to perform our internal audit functions properly~~3.10 InFunctional ~~addition, we have not yet fully developed the scope~~ and ~~effectiveness~~presentation ~~of our internal audit function.~~currency

-Items ~~Insufficient~~included ~~U.S.~~in ~~GAAP~~the ~~Accounting~~financial ~~Skills~~statements ~~and~~are ~~Experience~~measured using the currency of the primary economic environment in which the Company -operates. WeThe ~~found~~financial ~~that~~statements ~~our~~are ~~accounting~~presented ~~staff~~in ~~lacked~~US ~~sufficient~~(Dollars) ~~accounting~~which ~~skills~~is ~~and~~the ~~experience~~Company's ~~necessary~~presentation tocurrency. ~~fulfill~~All ~~our~~financial ~~public~~information ~~reporting~~presented ~~obligations~~in ~~according~~US toDollars ~~U.S.~~has ~~GAAP~~been ~~and~~rounded to the ~~SEC’s~~nearest ~~rules~~dollar ~~and~~unless ~~regulations~~otherwise stated.

63.11 Foreign currency transactions

AtForeign ~~the~~currency ~~present~~transactions ~~time,~~are wetranslated ~~are~~into ~~currently~~the ~~developing~~functional ~~our~~currency ~~art~~using ~~related business.~~the ~~Thus,~~exchange ~~our~~rate ~~current~~prevailing ~~operations~~on ~~and~~the ~~financial~~date ~~transactions~~of ~~are~~the ~~limited~~transaction. Monetary Atassets ~~such~~and ~~time~~liabilities asdenominated ~~business~~in ~~develops,~~foreign wecurrencies ~~intend~~are ~~to hire~~translated ~~additional~~into ~~personnel~~functional ~~with~~currency ~~sufficient~~using USthe ~~GAAP~~exchange ~~Accounting~~rate ~~Skills~~prevailing at ~~and~~the ~~Experience~~statement toof ~~fulfill~~financial ~~our~~position ~~public reporting obligations according to U~~date.S. ~~GAAP~~Foreign ~~and~~exchange ~~the~~gains ~~SEC’s rules~~ and ~~regulations.~~losses Inresulting ~~addition,~~from as the ~~Company’s~~settlement ~~business~~of ~~develops,~~such ittransactions ~~also~~and ~~will~~from ~~begin searching and negotiating with several qualified candidates to serve as~~ the ~~audit~~translation ~~committee~~at ~~members~~year-end soexchange asrates toare ~~establish an~~recognized ~~audit~~in ~~committee within~~ the ~~Board~~profit ofand ~~Directors~~loss ~~of the Company~~account.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies and procedures may deteriorate.F-8

~~Management remains committed to improving its internal control over financial reporting and will continue to work to put effective controls in place~~3.12 Contingencies

~~Because~~"The assessment of the ~~Company~~contingencies isinherently ainvolves ~~smaller~~the ~~reporting~~exercise ~~company,~~of ~~this~~significant ~~annual~~judgment as the outcome of the future events cannot ~~report~~be ~~does~~predicted ~~not~~with ~~include~~certainty. anThe ~~attestation~~Company, ~~report~~based ofon ~~our~~the ~~registered~~availability ~~public~~of ~~accounting~~the ~~firm~~latest ~~regarding~~information, ~~internal~~estimates ~~control~~the ~~over~~value ~~financial~~of contingent assets ~~reporting.~~and ~~Management’s~~liabilities, ~~report~~which ~~was~~may ~~not~~differ ~~subject~~on tothe ~~attestation~~occurrence by/ ~~our~~non-occurrence ~~registered~~of ~~public~~the ~~accounting~~uncertain ~~firm~~future event(s). "

~~Changes~~4 ~~in Internal Control over Financial Reporting~~Cash

~~Other~~This ~~than~~represent ~~described~~cash ~~above,~~in ~~there~~hand ~~were~~and nocash ~~changes~~deposited in ~~our internal~~bank ~~controls~~accounts ~~over~~(current) ~~financial~~by ~~reporting~~the ~~during our fiscal year ended September 30, 2016 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting~~Company.

~~Item~~5 ~~9B.~~Accounts ~~Other Information~~Receivables

None.

	Amount in $
Opening balance		4,999
Net movement during the period		(801	)

		4,198
Less : Provision		–
Account Receivable - Net		4,198

~~PART~~6 ~~III~~Current assets held for Sale

Item 10. Directors, Executive officers and Corporate Governance

	Amount in $
Opening balance		975,505
Net movement during the period		(156,137	)

		819,368

~~The~~7 ~~following~~Long ~~table sets forth the name, age, position and~~ term ofassets ~~office~~held for ~~each our executive officers and directors.~~Sale

NAME	AGE		POSITION	DATE POSITION FIRST HELD
	Amount in $
Daniel Sobolewski	40		Chairman, Chief Executive Officer and Director	December 31, 2018
Opening balance		114,125
Net movement in liabilities during the period		(18,267	)
Closing balance		95,858

~~Term~~8 ~~of Office~~Property, ~~Arrangements~~plant and ~~Related Matters~~equipment

Our executive officers serve at the discretion of our Board of Directors. The officers of the Company are not full time employees and certain conflicts may exist in allocating their time between our operations and other businesses. There are no arrangements or understandings between any of our directors or executive officers pursuant to which such person was or is to be selected as a director (or nominee) or an officer, as applicable. To the best of our knowledge, during the past five years, none of our existing directors, executive officers, or control persons were involved in any of the following: (1) any bankruptcy petition filed by or against any property or business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (2) any conviction in a criminal proceeding or being subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) being subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending, or otherwise limiting his involvement in any type of business, securities or banking activities; or (4) being found by a court of competent jurisdiction (in a civil action), the SEC, or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

	Amount in $
Cost
Opening balance		3,571
Net movement during the period		–

Closing balance		3,571

Accumulated Depreciation

Opening balance		(2,456	)
Net movement during the period		(360	)

Closing balance		(2,816	)

Closing Book value		755

~~Our directors and executive officers are not related by blood, marriage or adoption.~~F-9

~~Compliance~~9 ~~with~~Other ~~Section 16(a)~~payables ofand ~~the~~accrued ~~Securities Exchange Act of 1934~~expenses

Section 16(a) of the Securities and Exchange Act of 1934 requires our officers and directors and persons who beneficially own more than 10% of the Company’s common stock (collectively, “Reporting Persons”) to file reports of beneficial ownership and changes in beneficial ownership with the SEC. Reporting Persons are required by SEC regulations to furnish us with copies of all Section 16(a) forms they file.

	Amount in $
Opening balance		636,914
Net movement during the period		63,836

Closing balance		700,750

710 Amount due to Stockholders

Item 11. Executive Compensation

	Amount in $
Opening balance		124,058
Net movement during the period		12,435

Closing balance		136,493

~~None~~10.1 The includes amount due to Redrock Capital Venture Limited repayable on demand and bear no interest.

~~Item~~11 ~~12.~~Amount ~~Security~~due ~~Ownership~~to ofrelated ~~Certain Beneficial Owners and Management and Related Stockholder Matters~~parties

Not applicable.

	Amount in $
Opening balance		526,175
Net movement during the period		52,738

Closing balance		578,913

~~Item 13~~11.1 ~~Certain~~The ~~Relationship~~includes amount due to Redrock Thinktank (Group) Limited and ~~Related~~Mr. ~~Transactions~~Wu, repayable on demand after one-year from the loan date and ~~Director~~bear ~~Independence~~a free interest. The amounts were mainly used to make payments to investors who originally held convertible notes of the Company.

~~Except~~12 asCurrent ~~stated~~liabilities ~~herein,~~held ~~since~~for the beginning of our last fiscal year, there have been no transactions or proposed transactions, involving us and any of our officers, directors, promoters, or control persons, or any related persons thereof, the amount of which exceeds $120,000.sale

Item 14. Principal Accountant Fees and Services

	Amount in $
Opening balance		1,257,726
Net movement during the period		126,061

Closing balance		1,383,787

No13 ~~auditing~~Convertible ~~fees~~notes ~~have~~- ~~been~~net ~~paid~~of ~~during fiscal year 2016.~~discount

PART III

	Amount in $
Opening balance		700,356
Net movement during the period		69,872

Closing balance		770,228

~~Item 15~~13.1 ~~Exhibits~~On ~~and~~March ~~Financial~~26, ~~Statement~~2010, ~~Schedules~~we completed a Convertible Debt Settlement Agreement with Hua Hui to convert RMB 2,255,000 (approximately $330,000) outstanding loans due to Hua Hui into a convertible promissory note with a principal amount of RMB 2,255,000 (approximately $341,000 as of December 31, 2010).

~~Financial Statements~~F-10

~~The~~14 ~~financial~~Long ~~statements~~term ~~are~~loan ~~attached immediately after the signature page of this Annual Report on Form 10~~-K. convertible

~~Exhibit~~This represents convertible debt amounting to $ 180,000 extended by Axiom Industries to the Company. During the year ended 2018, the debt has been purchased by Emry Capital.

Exhibit No.		Description
31.1		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
31.2		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.1		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

15 Assets and Liabilities - Held for sale

8In connection with the CIGE and Ms. Wang Yihan transaction effective on March 31, 2010, which was subsequently amended on May 10, 2010, NextMart agreed to transfer to CIGE certain assets and liabilities. These have been segregated and included in assets and liabilities of held for sale operations, as appropriate, in the balance sheet:

~~Next~~16 ~~Mart~~Contingencies ~~Inc.~~and Commitments

~~Balance~~From ~~Sheet~~time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As at the end of current reporting period, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of operations and there are no proceedings in which any directors, officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to the Company’s interest.

~~As at September 30, 2016 (Unaudited)~~F-11

		As at September 30, 2016
	Notes	(Unaudited)
		($)
ASSETS
Current Assets
Cash and cash equivalents	4		4,256,207
Accounts receivable , net	5		3,947
Current assets held for sale	6		1,102,571
Total Current Assets			5,362,724
Long term assets held for sale	7		131,118
Property, plant and equipment, net	8		1,835
Total Assets			5,495,678
EQUITY & LIABILITIES
Current Liabilities
Other payables and accrued expense	9		690,239
Amount due to Stockholders	10		132,207
Amount due to related parties	11		577,392
Current liabilities held for sale	12		1,257,726
Total Current Liabilities			2,657,564
Convertible notes	18		578,700
Long term loan - convertible			180,000
Long term loan			40,000
Total Liabilities			3,456,264
SHAREHOLDER'S EQUITY
Preferred stock; authorized 250,000,000 shares, par value US$0.01; none issued			10,000
Common stock; authorized 750,000,000 shares, par value US$0.01;			5,139,364
Reserved to be issued 53,029 shares			530
Subscription receivable			(750,000	)
Additional paid in capital			99,208,680
Accumulated deficit			(101,593,319	)
Accumulated other comprehensive loss - Other			24,161
Total Shareholders’ Deficit			2,039,415
Total Liabilities and Shareholders’ Equity			5,495,679

SIGNATURES

~~See~~Pursuant to ~~accompanying~~the ~~notes~~requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to ~~financial~~be ~~statements~~signed on its behalf by the undersigned, thereunto duly authorized.

~~F-1~~NextMart, Inc. By: /s/ Kathryn Gavin Kathryn GavinChief Executive Officer

~~Next~~Date: September ~~Mart~~28, ~~Inc.~~2021

~~Statement of Profit and loss~~2

For the year ended September 30, 2016

	For the year ended September 30, 2016
	(Amount in $)
Revenue		–
Cost of sales		–
Gross profit		–
Operating expenses
General and administrative		(79,985	)
Depreciation and amortization		(360	)
Consulting and professional fees		(56,273	)
Income / (Loss) from operations		(133,618	)
Other Income / (expense)
Amortization of discount on convertible notes		(61,325	)
Interest expense		(23,362	)
Loss from continuing operations before tax		(218,305	)
Income tax		–
Loss from continuing operations		(218,305	)
Loss from held for sale operations		–
Net Loss		(218,305	)
Other Comprehensive income / (loss):
Foreign currency translation adjustment		46,234
Unrealized gain (loss)		–
Total Comprehensive income / (loss)		(172,072	)

See accompanying notes to financial statements.

F-2

Next Mart Inc.

Statement of Shareholders' Equity

As at September 30, 2016 (Unaudited)

	Series A - Preferred Stock				Common Stock						Subscription			Additional paid in		Accumulated Profit/			Total Stockholders’
	Shares		Amount		Shares		Par		Reserves		Receivable			capital		(Deficit)			Equity
	Amount in $
As at September 30, 2015 (Unaudited)		1,000,000		10,000		513,936,361		5,139,364		530		(750,000	)		99,208,680		(101,421,248	)		2,187,325
Profit / (loss) for the period																	(172,072	)		(172,072	)
As at September 30, 2016 (Unaudited)		1,000,000		10,000		513,936,361		5,139,364		530		(750,000	)		99,208,680		(101,593,319	)		2,015,254

See accompanying notes to financial statements.

F-3

Next Mart Inc.

Statement of cashflows

As at September 30, 2016 (Unaudited)

	2016
Cash flow from operating activities
(Loss) / profit before income tax		(172,072	)
Adjustment for non cash charges and other items:
Amortization of discount on convertible notes		61,325
Amortization and depreciation		360
		(110,387	)
Changes in working capital
Decrease / (increase) in accounts receivables		1,108
(Decrease) / increase in Other payables and accrued expenses		(28,314	)
(Decrease) / increase in amount due to Stockholders		14,743
(Decrease) / increase in amount due to related parties		43,971
		31,508
Cash flow from operating activities		(78,878	)
Cash flow from investing activities
Net additions in assets Held for sale		(62,060	)
Additions in property, plant and equipment		–
Cash flow from / (used) in investing activities		(62,060	)
Cash flow from financing activities
Proceeds from convertible notes issued		–
Proceeds from issuance of common stock		–
Proceeds from note payable - other		–
Cash flow from financing activities		–
Increase/(decrease) in cash and cash equivalents		(140,938	)
Foreign currency translation adjustment
Cash and cash equivalents at beginning of the period		4,397,145
Cash and cash equivalents at end of the year		4,256,207

See accompanying notes to financial statements.

F-4

Next Mart Inc.

Notes to the Financial Statements

For the year ended September 30, 2016

1. LEGAL STATUS AND OPERATIONS

NextMart, Inc. (the Company) was originally incorporated under the laws of Minnesota in 1972 and was previously known as SE Global Equity. In September 2005, the Company acquired 100% share capital of Sun New Media Group Limited and changed its name to Sun New Media, Inc. In May 2007, the Company reincorporated into the State of Delaware and changed its name to NextMart, Inc.

On March 31, 2010, the Company entered into an asset exchange and subscription agreement with Ms. Wang Yihan (“Ms. Wang”) and Beijing Chinese Art Exposition's Media Co., Ltd. (“CIGE”), a leading Chinese art services, events media company located in Beijing, China. In exchange for the Transferred Assets, Ms. Wang agreed to transfer to NextMart certain land use rights for commercial real estate property within 24 months from date of the amended agreement.

On June 22, 2010, the Company entered into an asset acquisition agreement (the “Acquisition Agreement”) with CIGE and its sole owner and director Ms. Wang, who is also NextMart’s Chairman and CEO. Under the terms of the Acquisition Agreement, NextMart is going to acquire from CIGE the below described Assets for an agreed price of $750,000 (the “Consideration”). NextMart paid the Consideration by issuing 75,000,000 shares of its common stock to Ms. Wang. As a result of this transaction, Ms. Wang became NextMart’s second largest shareholder with a 27.96% ownership of the Company.

Under the terms of the Acquisition Agreement, NextMart acquired the following assets:

1) ownership of CIGE’s 10,000 member consumer database,

2) exclusive ownership of all advertising space for every art exhibition event held by CIGE in greater China (including Hong Kong and Macao, and Taiwan) for the next 30 years, and

3) exclusive ownership of the "Gallery Guide" magazine brand name and all gross revenues generated by the magazine publication for the next 30 years, including but not limited to advertising revenue and sponsorship revenue.

2. BASIS OF PREPARATION

2.1 Statement of compliance

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") on a going concern.

2.2 Accounting Convention

These financial statements have been prepared on the basis of 'historical cost convention using accrual basis of accounting except as otherwise stated in the respective accounting policies notes.

F-5

Going concern

The accompanying unaudited financial statements have been prepared on the assumption that the Company will continue as a going concern. The Company historically has experienced significant losses and negative cash flows from operations. Further, the Company does not have a revolving credit facility with any financial institution. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

The ability of the Company to continue as a going concern is dependent on raising additional capital, negotiating adequate financing arrangements and on achieving sufficiently profitable operations. The financial statements do not include any adjustments relating to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

2.3 Critical accounting estimates and judgements

The preparation of financial statements in conformity with the approved accounting standards require management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if the revision affects only that period, or in the period of the revision and future periods.

The areas involving higher degree of judgment and complexity, or areas where assumptions and estimates made by the management are significant to the financial statements are as follows:

i) Equipment - estimated useful life of property, plant and equipment (note - 3.8)

ii) Provision for doubtful debts (note - 3.4)

iii) Provision for income tax (note - 3.1)

3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1 Income tax

The tax expense for the year comprises of income tax, and is recognized in the statement of earnings. The income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred income tax is accounted for using the balance sheet liability method in respect of all temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred income tax liabilities are recognised for all taxable temporary differences and deferred income tax assets are recognised to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and unused tax losses can be utilized. Deferred income tax is calculated at the rates that are expected to apply to the period when the differences are expected to be reversed.

F-6

3.2 Trade and other payables

Liabilities for trade and other amounts payable are carried at cost, which is the fair value of the consideration to be paid in future for goods and services received, whether or not billed to the Company.

3.3 Provisions

A provision is recognized in the financial statements when the Company has a legal or constructive obligation as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of obligation.

3.4 Accounts Receivable

Accounts receivable are non-interest bearing obligations due under normal course of business. The management reviews accounts receivable on a monthly basis to determine if any receivables will be potentially uncollectible. Historical bad debts and current economic trends are used in evaluating the allowance for doubtful accounts. The Company includes any accounts receivable balances that are determined to be uncollectible in its overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available, the Company believes its allowance for doubtful accounts as of period ended is adequate.

3.5 Contingent liabilities

A contingent liability is disclosed when the Company has a possible obligation as a result of past events, the existence of which will be confirmed only by the occurrence or non-occurrence, of one or more uncertain future events, not wholly within the control of the Company; or when the Company has a present legal or constructive obligation, that arises from past events, but it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation, or the amount of the obligation cannot be measured with sufficient reliability.

3.6 Financial liabilities

Financial liabilities are recognized when the Company becomes party to the contractual provision of the instruments and the Company loses control of the contractual right that comprise the financial liability when the obligation specified in the contract is discharged, cancelled or expired. The Company classifies its financial liabilities in two categories: at fair value through profit or loss and financial liabilities measured at amortized cost. The classification depends on the purpose for which the financial liabilities were incurred. Management determines the classification of its financial liabilities at initial recognition.

(a) Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss are financial liabilities held for trading. A financial liability is classified in this category if incurred principally for the purpose of trading or payment in the short-term. Derivatives (if any) are also categorized as held for trading unless they are designated as hedges.

(b) Financial liabilities measured at amortized cost

These are non-derivative financial liabilities with fixed or determinable payments that are not quoted in an active market. These are recognized initially at fair value, net of transaction costs incurred and are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the profit and loss account.

F-7

3.6.1 Derivative financial instruments and hedge accounting

Derivatives are recognised initially at fair value, any directly attributable transaction costs are recognised in profit or loss as they are incurred. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit and loss account. The Company also holds derivative financial instruments to hedge its foreign currency exposures. Embedded derivatives are separated from the host contract and accounted for separately if certain criteria are met.

(a) Fair value hedge

Derivatives which are designated and qualify as fair value hedge, changes in the fair value of such derivatives are recorded in the profit and loss account, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

(b) Cash flow hedges

When a derivative is designated as cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognised in other comprehensive income and accumulated in the hedging reserve. Any ineffective portion of changes in the fair value of the derivative is recognised immediately in profit or loss.

The amount accumulated in equity is retained in other comprehensive income and reclassified to profit or loss in the same period or periods during which the hedged item affects profit or loss.

If the hedging instrument no longer meets the criteria for hedge accounting, expires or is sold, terminated or exercised, or the designation is revoked, then hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, then the amount accumulated in equity is reclassified to profit or loss.

3.7 Property, plant and equipment

All equipments are stated at cost less accumulated depreciation and impairment loss. The cost of fixed assets includes its purchase price, import duties and non-refundable purchase taxes and any directly attributable costs of bringing the asset to its working condition and location for its intended use.

Depreciation on additions to property, plant and equipment is charged, using straight line method, on pro rata basis from the month in which the relevant asset is acquired or capitalized, up to the month in which the asset is disposed off. Impairment loss, if any, or its reversal, is also charged to income for the year. Where an impairment loss is recognized, the depreciation charge is adjusted in future periods to allocate the asset’s revised carrying amount, less its residual value, over its estimated useful life.

Maintenance and normal repair costs are expensed out as and when incurred. Major renewals and improvements are capitalized and assets so replaced, if any are retired.

Gains and losses on disposal of fixed assets, if any, are recognized in statement of profit and loss.

3.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks. For the purpose of the statement of cash flows, cash and cash equivalents bank balances and short term highly liquid investments subject to an insignificant risk of changes in value and with maturities of less than three months.

F-8

3.9 Revenue recognition

The Company’s revenues are derived principally from utilizing new technology in the medical alarm industry to provide 24-hour personal response monitoring services and related products to subscribers with medical or age-related conditions. The Company recognizes revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement that the services have been rendered to the customer, the sales price is fixed or determinable, and collectability is reasonably assured.

All revenues from subscription arrangements are recognized ratably over the term of such arrangements. The excess of amounts received over the income recognized is recorded as deferred revenue on the consolidated balance sheet.

3.10 Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which the Company operates. The financial statements are presented in US (Dollars) which is the Company's presentation currency. All financial information presented in US Dollars has been rounded to the nearest dollar unless otherwise stated.

3.11 Foreign currency transactions

Foreign currency transactions are translated into the functional currency using the exchange rate prevailing on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the exchange rate prevailing at the statement of financial position date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates are recognized in the profit and loss account.

3.12 Contingencies

The assessment of the contingencies inherently involves the exercise of significant judgment as the outcome of the future events cannot be predicted with certainty. The Company, based on the availability of the latest information, estimates the value of contingent assets and liabilities, which may differ on the occurrence / non-occurrence of the uncertain future event(s).

4 Cash

This represents cash in hand and cash deposited in bank accounts (current) by the Company.

5 Accounts Receivables

Opening balance	$	5,055
Net movement during the period		(1,108	)
		3,947
Less: Provision		–
Account Receivable - Net	$	3,947

F-9

6 Current assets held for Sale

Opening balance	$	1,101,901
Net movement during the period		(126,396	)
	$	975,505

7 Long term assets held for Sale

Opening balance	$	1,059,549
Net movement during the period		43,022
	$	1,102,571

8 Property, plant and equipment

Cost
Opening balance	$	3,571
Net movement during the period		–
		3,571

Accumulated Depreciation
Opening balance		(1,646	)
Net movement during the period		(360	)
		(1,736	)
Closing Book Value	$	1,835

9 Other payables and accrued expenses

Opening balance	$	718,552
Net movement during the period		(28,314	)
	$	690,239

10 Amount due to Stockholders

Opening balance	$	117,464
Net movement during the period		14,743
	$	132,207

10.1 This includes amount due to Redrock Capital Venture Limited repayable on demand and bears no interest.

F-10

11 Amount due to related parties

Opening balance	$	533,421
Net movement during the period		43,971
	$	577,392

11.1 This includes amount due to Redrock Thinktank (Group) Limited and Mr. Wu, repayable on demand after one-year from the loan date and bear a free interest. The amounts were mainly used to make payments to investors who originally held convertible notes of the Company.

12 Current liabilities held for sale

Opening balance	$	1,257,726
Net movement during the period		–
	$	1,257,726

13 Convertible notes - net of discount

Opening balance	$	517,375
Net movement during the period		61,325
	$	578,700

13.1 On March 26, 2010, we completed a Convertible Debt Settlement Agreement with Hua Hui to convert RMB 2,255,000 (approximately $330,000) outstanding loans due to Hua Hui into a convertible promissory note with a principal amount of RMB 2,255,000 (approximately $341,000 as of December 31, 2010).

14 Assets and Liabilities - Held for sale

In connection with the CIGE and Ms. Wang Yihan transaction effective on March 31, 2010, which was subsequently amended on May 10, 2010, NextMart agreed to transfer to CIGE certain assets and liabilities. These have been segregated and included in assets and liabilities of held for sale operations, as appropriate, in the balance sheet:

15 Contingencies and Commitments

From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As at the end of current reporting period, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of operations and there are no proceedings in which any directors, officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to the Company’s interest.

F-11

SIGNATURES

Pursuant to the requirements of 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.

NEXTMARK, Inc. By: /s/ Daniel Sobolewski Daniel SobolewskiInterim President, Interim Chief Executive Officer and Interim Chief Financial Officer

Date: January 10, 2019

Filing Compare · NextMart Inc.