China Teletech Holdings Inc. Files Q3 2024 10-Q

TL;DR

China Teletech Holdings Inc. filed its Q3 2024 10-Q, showing financial updates.

AI Summary

China Teletech Holdings Inc. filed its 10-Q for the period ending September 30, 2024. The filing provides financial information for the third quarter and the first nine months of 2024, comparing it to the same periods in 2023. The company is incorporated in Florida and its business address is in Guangzhou, China.

Why It Matters

This filing provides investors with an update on China Teletech Holdings Inc.'s financial performance and position as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
• 2024-11-15 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• China Teletech Holdings Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of reporting period
• 2024-11-15 (date) — Filing date
• Guangzhou, Guangdong (location) — Business address

FAQ

Key Financial Figures

• $0.001 — tock Common Stock Shares Par Value, $0.001 Shares Par Value, $0.0001 Additional
• $0.0001 — Par Value, $0.001 Shares Par Value, $0.0001 Additional paid-in capital Accumulate

Filing Documents

• chinatel_i10q-093024.htm (10-Q) — 335KB
• chinatel_ex3101.htm (EX-31.1) — 9KB
• chinatel_ex3102.htm (EX-31.2) — 9KB
• chinatel_ex3201.htm (EX-32.1) — 4KB
• chinatel_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-008142.txt ( ) — 1839KB
• cnct-20240930.xsd (EX-101.SCH) — 12KB
• cnct-20240930_cal.xml (EX-101.CAL) — 21KB
• cnct-20240930_def.xml (EX-101.DEF) — 26KB
• cnct-20240930_lab.xml (EX-101.LAB) — 155KB
• cnct-20240930_pre.xml (EX-101.PRE) — 121KB
• chinatel_i10q-093024_htm.xml (XML) — 146KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 3 Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited) 3 4 5 6

Notes to Financial Statements (unaudited)

Notes to Financial Statements (unaudited) 7 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 13 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 18 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 18

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1. Legal Proceedings. 21 ITEM 1A. RISK FACTORS. 21 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds. 21 ITEM 3. Defaults Upon Senior Securities. 21 ITEM 4. Mine Safety Disclosures. 21 ITEM 5. OTHER INFORMATION. 21 ITEM 6. EXHIBITS. 21

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHINA TELETECH HOLDING, INC. FORMERLY GUANGZHOU GLOBAL TELECOM INC. BALANCE SHEETS Unaudited September 30, December 31, 2024 2023 Assets Current Assets Cash $ – $ – Total Current Assets – – Total Assets $ – $ – Liabilities Current Liabilities Accounts payable and accrued expenses $ 10,217 $ 7,005 Due to related party 61,117 23,915 Total Current Liabilities 71,334 30,920 Total Liabilities 71,334 30,920 Commitment & contingencies – – Stockholders' Deficit Convertible Preferred Stock, $ 0.001 par value; 5,000,000 shares authorized, 1,500,000 and 1,500,000 shares issued and outstanding, respectively 1,500 1,500 Common Stock, $ 0.0001 par value; 1,500,000,000 shares authorized, 434,473,776 and 434,473,776 shares issued and outstanding, respectively 43,447 43,447 Additional paid-in capital 7,474,125 7,474,125 Accumulated loss ( 7,590,406 ) ( 7,549,992 ) Total Stockholders' Deficit ( 71,334 ) ( 30,920 ) Total Liabilities and Stockholders' Deficit $ – $ – See accompanying notes to financial statements 3 CHINA TELETECH HOLDING, INC. FORMERLY GUANGZHOU GLOBAL TELECOM INC. Unaudited Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Revenues $ – $ – $ – $ – Operating expenses Professional fees 7,000 917 36,000 8,667 Other general & administrative expense 1,718 893 4,414 2,840 Total operating expenses 8,718 1,810 40,414 11,507 Loss from operations ( 8,718 ) ( 1,810 ) ( 40,414 ) ( 11,507 ) Other Income (Expenses) Interest income (expense) – – – – Total other income (expenses) – – – – Net loss before income tax ( 8,718 ) ( 1,810 ) ( 40,414 ) ( 11,507 ) Income tax expense – – – – Net loss $ ( 8,718 ) $ ( 1,810 ) $ ( 40,414 ) $ ( 11,507 ) Loss per Share - Basic and Diluted $ ( 0.000 ) $ ( 0.000 )

NOTES TO FINANCIAL STATEMENTS

NOTES TO FINANCIAL STATEMENTS As of and for the nine months ended September 30, 2024 and 2023 (Unaudited) NOTE 1 – ORGANIZATION AND OPERATIONS China Teletech Holding Inc formerly known as Guangzhou Global Telecom Inc. (the "Company") is a corporation organized under the laws of the state of Florida on March 29, 1999. The operations of Guangzhou Global Telecom Inc and its subsidiaries were abandoned by the former management and custodianship action was commenced in the year of 2020. On October 9, 2020, the circuit court of the second judicial circuit in and for Leon County, Florida granted the application for appointment of custodian due to the absence of a functioning board of directors in the Company. The order appointed a custodian to take on any corporation actions on behalf of the Company that would further the interest of its shareholders. On November 10, 2020, a change of control occurred with respect to the Company to reflect better towards the business direction of the Company. The Company intends to seek for a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is an emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in the United States of America (U.S. GAAP). The preparation of financial statements in compliance with the Generally Accepted Accounting Principles in the United States of America requires management to make estimations and assumptions that will affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the

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