Get Started for Free Contexxia identifies hard-to-find pieces of information in SEC filings. No more highlighters, no more redlining, no more poring over huge documents. CHINA MEDIA INC. (1434674) 10-Q published on May 17, 2021 at 10:19 am
From time to time, the Company is subject to legal proceedings and claims in the ordinary course of business. The Company records a liability when it is both probable that a liability will be incurred and the amount of the loss can be reasonably estimated. The Company reviews the need for any such liability on a regular basis and has not recorded any material liabilities in this regard during the nine months ended March 31, 2021 and 2020.
During the three months ended March 31, 2021, our total operating expense was $35,498, a slight decrease of $348 or 1% as compared to $35,846 for the three months ended March 31, 2020. Operating expense in these two periods were relatively stable and the change was immaterial.
For the three months ended March 31, 2021, we incurred a net loss of $44,231, as compared to a net loss of $42,145 for the three months ended March 31, 2020, an increase of $2,086 or 5%. This increase was primarily due to the increase in interest expense.
Our cash level decreased by $26 during the nine months ended March 31, 2021, compared to a decrease of $721 in the same period of 2020. The change in cash was a result of the factors described above.
Item 6. Exhibits Exhibit Number Exhibit Description 31.1 Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. 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. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 SIGNATURES Pursuant to the requirements of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. China Media Inc. (Registrant) /s/ Dean Li Date: May 17, 2021 Dean Li President, Chief Executive Officer (Principal Executive Officer) 16