10-Q Filing

CLUSTER GROUP HOLDINGS LTD CO CIK: 1346287 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001213900-12-002735`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	gzgt-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 29

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.27K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.53M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	185.28M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$159.93K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.31M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$385.41K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	58.53M	shares	Point-in-time
Short-term Investment	`ShortTermInvestments`	$395.28K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	185.28M	shares	Point-in-time
Short-term Investment	`ShortTermInvestments`	$597.04K	USD	Point-in-time
Other Receivables	`AccountsReceivableGrossCurrent`	-	USD	Point-in-time
Other Receivables	`AccountsReceivableGrossCurrent`	$204.25K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$590.19K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$904.85K	USD	Point-in-time
Purchase deposits	`DepositsAssetsCurrent`	$23.05K	USD	Point-in-time
Purchase deposits	`DepositsAssetsCurrent`	$79.06K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$129.82K	USD	Point-in-time
Inventories	`InventoryNet`	$826.41K	USD	Point-in-time
Inventories	`InventoryNet`	$549.91K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.35M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.33M	USD	Point-in-time
Property, plant & equipment, net	`PropertyPlantAndEquipmentNet`	$60.65K	USD	Point-in-time
Property, plant & equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$206.76K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$71.14K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$71.14K	USD	Point-in-time
Total Non-Current Assets	`AssetsNoncurrent`	$206.76K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.60M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.42M	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$859.32K	USD	Point-in-time
Taxes payable	`AccruedIncomeTaxesCurrent`	$1.43M	USD	Point-in-time
VAT payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$1.22M	USD	Point-in-time
VAT payable	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$1.23M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$30.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$136.03K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$143.40K	USD	Point-in-time
Accrued liabilities and other payables	`AccountsPayableAndAccruedLiabilitiesCurrent`	$127.55K	USD	Point-in-time
Convertible debenture - current portion	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible debenture - current portion	`ConvertibleDebtCurrent`	$2.87M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.94M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.10M	USD	Point-in-time
Convertible debenture-non-current portion	`ConvertibleDebtNoncurrent`	$1.30M	USD	Point-in-time
Convertible debenture-non-current portion	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Non-Current Liabilities	`LiabilitiesNoncurrent`	$1.30M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.10M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.24M	USD	Point-in-time
Common stock US$0.01 par value; 1,000,000,000 authorized, 58,528,637 and 185,283,627 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$585.29K	USD	Point-in-time
Common stock US$0.01 par value; 1,000,000,000 authorized, 58,528,637 and 185,283,627 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$1.85M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$1.68M	USD	Point-in-time
Additional Paid in capital	`AdditionalPaidInCapitalCommonStock`	$4.37M	USD	Point-in-time
Other Comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$32.23K	USD	Point-in-time
Other Comprehensive Income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$28.35K	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-4.94M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-6.55M	USD	Point-in-time
Non-controlling Interest	`MinorityInterest`	$293.69K	USD	Point-in-time
Non-controlling Interest	`MinorityInterest`	$317.41K	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.69M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$360.11K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.42M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.60M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$3.04M	USD	1 Quarter
Sales	`Revenues`	$9.22M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$2.96M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$8.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$76.11K	USD	1 Quarter
Gross profit	`GrossProfit`	$284.25K	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$110.33K	USD	1 Quarter
Administrative and general expenses	`GeneralAndAdministrativeExpense`	$88.92K	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$110.33K	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$88.92K	USD	1 Quarter
(Loss) Income from Operations	`OperatingIncomeLoss`	$-34.22K	USD	1 Quarter
(Loss) Income from Operations	`OperatingIncomeLoss`	$195.32K	USD	1 Quarter
Gain on forgiveness of long term debt	`DebtInstrumentDecreaseForgiveness`	$-1.57M	USD	1 Quarter
Gain on forgiveness of long term debt	`DebtInstrumentDecreaseForgiveness`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$119.38K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.00	USD	1 Quarter
Other expenses	`OtherNonoperatingExpense`	$505.00	USD	1 Quarter
Other expenses	`OtherNonoperatingExpense`	$3.35K	USD	1 Quarter
Income before taxation on Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.65M	USD	1 Quarter
Income before taxation on Continuing Operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$191.98K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$33.78K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$16.13K	USD	1 Quarter
Net Income	`ProfitLoss`	$1.63M	USD	1 Quarter
Net Income	`ProfitLoss`	$158.20K	USD	1 Quarter
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.93K	USD	1 Quarter
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$61.16K	USD	Annual
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.72K	USD	1 Quarter
Net Income (Loss) Attributable to the Company	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net Income (Loss) Attributable to the Company	`NetIncomeLoss`	$134.27K	USD	1 Quarter
Net Income (Loss) Attributable to the Company	`NetIncomeLoss`	$-409.29K	USD	Annual
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
-Basic (Adjusted for 1 for 10 reverse stock split)	`WeightedAverageNumberOfSharesOutstandingBasic`	104.20M	shares	1 Quarter
-Basic (Adjusted for 1 for 10 reverse stock split)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.95M	shares	1 Quarter
-Diluted (Adjusted for 1 for 10 reverse stock split)	`WeightedAverageNumberOfDilutedSharesOutstanding`	104.20M	shares	1 Quarter
-Diluted (Adjusted for 1 for 10 reverse stock split)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.95M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income Attributable to the Company	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net Income Attributable to the Company	`NetIncomeLoss`	$134.27K	USD	1 Quarter
Net Income Attributable to the Company	`NetIncomeLoss`	$-409.29K	USD	Annual
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.93K	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$61.16K	USD	Annual
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.72K	USD	1 Quarter
Ordinary gain on bargain	`OrdinaryGainOnBargain`	-	USD	1 Quarter
Ordinary gain on bargain	`OrdinaryGainOnBargain`	$119.02K	USD	1 Quarter
Gain on forgiveness of long term debt	`DebtInstrumentDecreaseForgiveness`	$-1.57M	USD	1 Quarter
Gain on forgiveness of long term debt	`DebtInstrumentDecreaseForgiveness`	-	USD	1 Quarter
Depreciation	`Depreciation`	$3.77K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.29K	USD	1 Quarter
Loss on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Decrease/(Increase) in other receivables	`IncreaseDecreaseInOtherReceivables`	$1.48K	USD	1 Quarter
Decrease/(Increase) in other receivables	`IncreaseDecreaseInOtherReceivables`	$-204.25K	USD	1 Quarter
Decrease/(Increase) in amount due from a related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$-332.06K	USD	1 Quarter
Decrease/(Increase) in amount due from a related party	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$322.62K	USD	1 Quarter
Decrease/(Increase) in purchase deposit	`IncreaseDecreaseInDepositOtherAssets`	$-79.59K	USD	1 Quarter
Decrease/(Increase) in purchase deposit	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Decrease/(Increase) in inventories	`IncreaseDecreaseInInventories`	$152.10K	USD	1 Quarter
Decrease/(Increase) in inventories	`IncreaseDecreaseInInventories`	$-289.12K	USD	1 Quarter
Increase/(decrease) in tax payables	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.90K	USD	1 Quarter
Increase/(decrease) in tax payables	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.82K	USD	1 Quarter
Increase/(decrease) in accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-49.25K	USD	1 Quarter
Increase/(decrease) in accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$2.17K	USD	1 Quarter
Increase/(decrease) in VAT payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$7.73K	USD	1 Quarter
Increase/(decrease) in VAT payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$35.87K	USD	1 Quarter
Increase/(decrease) in income tax payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$33.61K	USD	1 Quarter
Increase/(decrease) in income tax payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$16.57K	USD	1 Quarter
Net cash provided by/(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$393.17K	USD	1 Quarter
Net cash provided by/(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$207.82K	USD	1 Quarter
Net cash inflow from purchase of subsidiary China Teletech Limited	`ProceedsFromMinorityShareholders`	-	USD	1 Quarter
Net cash inflow from purchase of subsidiary China Teletech Limited	`ProceedsFromMinorityShareholders`	$1.78M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.44K	USD	1 Quarter
Payments for deposits	`PaymentsForDepositsPurchased`	$1.52K	USD	1 Quarter
Payments for deposits	`PaymentsForDepositsPurchased`	$135.62K	USD	1 Quarter
Disposal for short-term investment	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	-	USD	1 Quarter
Disposal for short-term investment	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$201.77K	USD	1 Quarter
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.85M	USD	1 Quarter
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.96K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Increase/(Decrease) in Cash & Cash Equivalents for the Year	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$204.86K	USD	1 Quarter
Net Increase/(Decrease) in Cash & Cash Equivalents for the Year	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.24M	USD	1 Quarter
Effect of Currency Translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.88K	USD	1 Quarter
Effect of Currency Translation	`EffectOfExchangeRateOnCashAndCashEquivalents`	$20.62K	USD	1 Quarter
Cash & Cash Equivalents at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$69.27K	USD	Point-in-time
Cash & Cash Equivalents at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$159.93K	USD	Point-in-time
Cash & Cash Equivalents at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$2.31M	USD	Point-in-time
Cash & Cash Equivalents at Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$385.41K	USD	Point-in-time
Cash & Cash Equivalents at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$69.27K	USD	Point-in-time
Cash & Cash Equivalents at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$159.93K	USD	Point-in-time
Cash & Cash Equivalents at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$2.31M	USD	Point-in-time
Cash & Cash Equivalents at End of Year	`CashAndCashEquivalentsAtCarryingValue`	$385.41K	USD	Point-in-time
Acquisition of a subsidiary by Way of Issue Stock	`AcquisitionOfsubsidiaryByWayOfIssueStock`	-	USD	1 Quarter
Acquisition of a subsidiary by Way of Issue Stock	`AcquisitionOfsubsidiaryByWayOfIssueStock`	$1.41M	USD	1 Quarter

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.69M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$360.11K	USD	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Beginning Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$343.27K	USD	Annual
Issuance of common stock (Shares)	`StockIssuedDuringPeriodSharesNewIssues`	0.00	shares	Annual
Issuance of share based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$289.43K	USD	Annual
Issuance of share based compensation (Shares)	`StockIssuedDuringPeriodSharesShareBasedCompensation`	0.00	shares	Annual
Reverse common stock split 1 for 10	`AdjustmentsToAdditionalPaidInCapitalStockSplit`	-	USD	1 Quarter
Reverse common stock split 1 for 10 (Shares)	`StockIssuedDuringPeriodSharesReverseStockSplits`	0.00	shares	1 Quarter
Value of stock to acquire China Teletech Limited	`StockIssuedDuringPeriodValueAcquisitions`	$1.41M	USD	1 Quarter
Value of stock to acquire China Teletech Limited (Shares)	`StockIssuedDuringPeriodSharesAcquisitions`	0.00	shares	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$1.61M	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$134.27K	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$-409.29K	USD	Annual
Dividends paid to non-controlling shareholders	`Dividends`	$-88.95K	USD	Annual
Non-controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.93K	USD	1 Quarter
Non-controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$61.16K	USD	Annual
Non-controlling Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$23.72K	USD	1 Quarter
Foreign Currency Translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-3.88K	USD	1 Quarter
Foreign Currency Translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$21.36K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.90M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$360.11K	USD	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time
Balance (Shares)	`SharesOutstanding`	0.00	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.