SUIC 10-Q Quarterly Report Sept. 30, 2011

SINO UNITED WORLDWIDE CONSOLIDATED LTD.

10-Ks and 10-Qs

10-Q	Quarter ended Sept. 30, 2025
10-Q	Quarter ended June 30, 2025
10-Q	Quarter ended March 31, 2025
10-K	Fiscal year ended Dec. 31, 2024
10-Q	Quarter ended Sept. 30, 2024
10-Q	Quarter ended June 30, 2024
10-Q	Quarter ended March 31, 2024
10-K	Fiscal year ended Dec. 31, 2023
10-Q	Quarter ended Sept. 30, 2023
10-Q	Quarter ended June 30, 2023
10-Q	Quarter ended March 31, 2023
10-K	Fiscal year ended Dec. 31, 2022
10-Q	Quarter ended Sept. 30, 2022
10-Q	Quarter ended June 30, 2022
10-Q	Quarter ended March 31, 2022
10-K	Fiscal year ended Dec. 31, 2021
10-Q	Quarter ended Sept. 30, 2021
10-Q	Quarter ended June 30, 2021
10-Q	Quarter ended March 31, 2021
10-K	Fiscal year ended Dec. 31, 2020
10-Q	Quarter ended Sept. 30, 2020
10-Q	Quarter ended June 30, 2020
10-Q	Quarter ended March 31, 2020
10-K	Fiscal year ended Dec. 31, 2019
10-Q	Quarter ended Sept. 30, 2019
10-Q	Quarter ended June 30, 2019
10-Q	Quarter ended March 31, 2019
10-K	Fiscal year ended Dec. 31, 2018
10-Q	Quarter ended Sept. 30, 2018
10-Q	Quarter ended June 30, 2018
10-Q	Quarter ended March 31, 2018
10-K	Fiscal year ended Dec. 31, 2017
10-Q	Quarter ended Sept. 30, 2017
10-Q	Quarter ended June 30, 2017
10-Q	Quarter ended March 31, 2017
10-K	Fiscal year ended Dec. 31, 2016
10-Q	Quarter ended Sept. 30, 2016
10-Q	Quarter ended June 30, 2016
10-Q	Quarter ended March 31, 2016
10-K	Fiscal year ended Dec. 31, 2015
10-Q	Quarter ended Sept. 30, 2015
10-Q	Quarter ended June 30, 2015
10-Q	Quarter ended March 31, 2015
10-K	Fiscal year ended Dec. 31, 2014
10-Q	Quarter ended Sept. 30, 2014
10-Q	Quarter ended June 30, 2014
10-Q	Quarter ended March 31, 2014
10-K	Fiscal year ended Dec. 31, 2013
10-Q	Quarter ended Sept. 30, 2013
10-Q	Quarter ended June 30, 2013
10-Q	Quarter ended March 31, 2013
10-K	Fiscal year ended Dec. 31, 2012
10-Q	Quarter ended Sept. 30, 2012
10-Q	Quarter ended June 30, 2012
10-Q	Quarter ended March 31, 2012
10-K	Fiscal year ended Dec. 31, 2011
10-Q	Quarter ended Sept. 30, 2011
10-Q	Quarter ended June 30, 2011
10-Q	Quarter ended March 31, 2011
10-K	Fiscal year ended Dec. 31, 2010
10-Q	Quarter ended Sept. 30, 2010
10-Q	Quarter ended June 30, 2010
10-Q	Quarter ended March 31, 2010
10-K	Fiscal year ended Dec. 31, 2009

10-Q 1 v241209_10q.htm 10-Q Unassociated Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

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

For the quarterly period ended September 30, 2011

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

(Exact name of registrant as specified in Charter)

Nevada		333-144228		20-5548974
(State or other jurisdiction of incorporation or organization)		(Commission File No.)		(IRS Employee Identification No.)

136-20 38th Ave. Unit 3G

Flushing, NY 11354

(Address of Principal Executive Offices)

718-395-8706

(Issuer Telephone number)

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes x No o

Indicate by check mark whether the registrant is a larger accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company Q

Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Yes o No x

State the number of shares outstanding of each of the issuer’s classes of common equity, as of November 18, 2011: 33,760,148 shares of common stock.

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

FORM 10-Q

September 30, 2011

INDEX

PART I— FINANCIAL INFORMATION

Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4.	Control and Procedures	6

PART II— OTHER INFORMATION

Item 1	Legal Proceedings	10
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	10
Item 3.	Defaults Upon Senior Securities	10
Item 4.	(Removed and Reserved)	10
Item 5.	Other Information	10
Item 6.	Exhibits	10

SIGNATURES		11

ITEM 1. Financial Information

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

FINANCIAL STATEMENTS	Page #

Condensed Consolidated Balance Sheets as of September 30, 2011 (Unaudited) and December 31, 2010	F-1

Condensed Consolidated Statements of Operations for the nine months ended September 30, 2011 and 2010 (Unaudited)	F-2

Consolidated Statements of Stockholders’ Equity as of for the nine months ended September 30, 2011	F-4

Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2011 and 2010 (Unaudited)	F-5

Notes to the Financial Statements (Unaudited)	F-6 – F-16

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

CONSOLIDATED BALANCE SHEETS

	September 30,		December 31,
	2011		2010
Assets
Current Assets
Cash and cash equivalents		23,528		655,640
Accounts receivable, net		8,880,116		198,239
Prepaid construction costs		19,128,977		18,718,399
Notes receivable for stock subscription		510,000		510,000
Due from a shareholder		939,772		-
Due from related parties		391,186		-
Other current assets		142,900		38,165
		30,016,479		20,120,443

Property, plant and equipment		4,952,690		4,857,036
Deposits for acquisition of a land use right		1,701,733		1,668,740
Total Assets		36,670,902		26,646,219
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable		15,733,875		10,458,783
Accounts payable- related parties		-		792,457
Accrued expenses		1,655,521		382,751
Income tax payable		1,359,308		3,757,791
Due to related parties		180,994		178,055
Due to a shareholder		-		107,922
Total liabilities		18,929,698		15,677,759

Stockholders' Equity
Common stock, $0.001 par value, 394,500,000 shares authorized,
33,760,148 and 32,010,148 fully-paid shares issued and
outstanding as of September 30, 2011 and December 31, 2010
respectively		33,760		32,010

0 and 1,100,000 unpaid shares issued and outstanding as of
September 30, 2011 and December 31, 2010 respectively		-		1,100

Preferred stock, $0.001 par value, 5,500,000 shares
authorized, 0 shares issued and outstanding		-		-
Additional paid-in capital		1,030,240		926,890
Accumulated other comprehensive income		493,616		261,489
Retained earnings		16,183,588		9,746,971
Total stockholders' equity		17,741,204		10,968,460

Total Liabilities and Stockholders' Equity		36,670,902		26,646,219

The Accompanying Notes are an integral part of the Financial Statements.

F-1

AMERICAN JIANYE GREENTECH HOLDINGS LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Nine Months Ended
	Sep 30, 2011			Sep 30, 2010

Sales	$	55,191,711		$	57,340,164

Cost of sales		(45,943,489	)		(49,556,124	)

Gross profit		9,248,222			7,784,040

Operating expenses:
Selling, general and administrative		(542,905	)		(203,083	)

Income from operations		8,705,317			7,580,957

Provision for income taxes		(2,268,700	)		(1,914,681	)

Net Income		6,436,617			5,666,276

Other comprehensive income
Foreign currency translation adjustment		232,127			117,658

Comprehensive income	$	6,668,744		$	5,783,934

Net Income Per Share-
Basic and Diluted	$	0.19		$	0.18

Weighted Average Shares Outstanding:
Basic and Diluted		33,326,876			31,100,770

The Accompanying Notes are an integral part of the Financial Statements.

F-2

AMERICAN JIANYE GREENTECH HOLDINGS LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Three Months Ended
	Sep 30, 2011			Sep 30, 2010

Sales	$	21,550,395		$	24,812,027

Cost of sales		(17,813,221	)		(21,488,984	)

Gross profit		3,737,174			3,323,043

Operating expenses:
Selling, general and administrative		(309,626	)		(38,765	)

Income from operations		3,427,548			3,284,278

Provision for income taxes		(910,051	)		(822,050	)

Net Income		2,517,497			2,462,228

Other comprehensive income
Foreign currency translation adjustment		(92,602	)		82,261

Comprehensive income	$	2,424,895		$	2,544,489

Net Income Per Share-
Basic and Diluted	$	0.07		$	0.08

Weighted Average Shares Outstanding:
Basic and Diluted		33,757,950			31,100,770

The Accompanying Notes are an integral part of the Financial Statements.

F-3

AMERICAN JIANYE GREENTECH HOLDINGS LTD.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011

					Additional		Other
	Common Stock				Paid-in		Comprehensive		Retained
	Share		Amount		Capital		Income		Earnings		Total

Balance, December 31, 2010		33,110,148	$	33,110	$	926,890	$	261,489	$	9,746,971	$	10,968,460

Issuance of common stock for service		50,000		50		13,950		-		-		14,000

Issuance of common stock		600,000		600		89,400		-		-		90,000

Net income for the period ended
September 30, 2011		-		-		-		-		6,436,617		6,436,617

Foreign currency translation adjustments		-		-		-		232,127		-		232,127

Balance, September 30, 2011		33,760,148	$	33,760	$	1,030,240	$	493,616	$	16,183,588	$	17,741,204

The Accompanying Notes are an integral part of the Financial Statements.

F-4

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Nine Months Ended
	September 30, 2011			September 30, 2010
Cash flows from operating activities
Net income	$	6,436,617		$	5,666,276
Adjustments to reconcile net income to net cash
used in operating activities:
Depreciation expense		382			9,677
Changes in assets and liabilities:
Accounts receivable		(8,616,035	)		(7,668,693	)
Prepayment		(39,763	)
Other current assets		(101,944	)		(59,061	)
Other deposits		-			(13,695	)
Accounts payable		4,082,262			1,811,105
Accrued expenses		1,242,243			149,217
Decrease in other current liabilities		-
Income tax payable		(2,469,811	)		2,208,123
Net cash provided by (used in)operating activities		533,951			2,102,949

Cash flows from investing activities
Purchases of property, plant and equipment		-			(2,697,687	)
Net cash used in investing activities		-			(2,697,687	)

Cash flows from financing activities
Advances from/(to) related parties		(387,229	)		(2,254,038	)
Amounts due from/(to) shareholders		(1,039,438	)		2,795,494
Issuance of common stock		104,000			-
Net cash generated from (used in) financing activities		(1,322,667	)		541,456

Net increase (decrease) in cash and cash equivalents		(788,716	)		(53,282	)

Effect of exchange rate changes on cash and cash equivalent		156,604			(2,323	)

Cash and cash equivalents
Beginning		655,640			80,366
Ending	$	23,528		$	24,761

Supplemental disclosure of cash flows
Cash paid during the period for:
Interest paid		-			-
Income tax	$	2,268,700		$	1,096,983

The Accompanying Notes are an integral part of the Financial Statements.

F-5

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2011

NOTE 1- NATURE OF OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

Nature of operations

American Jianye Greentech Holdings, Ltd. (the ‘Company” or “American Jianye”) was originally incorporated on August 30, 2006, in the State of Nevada as Gateway Certifications, Inc.

On November 13, 2009, the Company entered into and completed the transactions contemplated under a Share Exchange Agreement (the “Exchange Agreement”) with each of the shareholders (the “Shareholders”) of Jianye Greentech Holdings, Ltd., a British Virgin Islands corporation (”Jianye”), pursuant to which the Company purchased from the Shareholders all issued and outstanding shares of Jianye’ common stock in consideration for the issuance of an aggregate of 3,548,796 shares of the Company common stock (the "Share Exchange") (the “Merger”).

The Share Exchange resulted in a change in control of the Company with the Shareholders owning 3,548,796 shares of common stock of the Company out of a total of 3,941,796 issued and outstanding shares after giving effect to the Share Exchange. As a result of the Exchange Agreement, (i) Jianye became a wholly-owned subsidiary of the Company and (ii) the Company succeeded to the business of Jianye as its sole business. Accordingly, the Company changed its name to American Jianye Greentech Holdings, Ltd. The Company also effectuated a forward-split of its common stock on a 7.89-for-1 basis. The Merger will be accounted for as a reverse merger to be reflected as a recapitalization with Jianye as the accounting acquirer.

On September 28, 2009, Jianye Hong Kong established Heilongjian New Jianye New Clean Fuel Marketing Ltd. (“Jianye China”), a wholly owned subsidiary in China, with registered capital of US$50,000. As a result, Jianye BVI owns 100% of the equity of Jianye China through Jianye Hong Kong. Jianye China’s primary business is to distribute ethanol and methanol as alternative fuel for automobile use.

On November 2009, the Company changed its name to American Jianye Greentech Holdings, Ltd. to more accurately reflect the business it intends to enter subsequent to the merger with Gateway and will focus its efforts for growth in the area of ethanol and methanol fuel.

Basis of presentation

The consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America.

On September 30, 2009, the Company adopted changes issued by the Financial Accounting Standards Board (“FASB”) to the authoritative hierarchy of GAAP. These changes establish the FASB Accounting Standards Codification (“ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The FASB will no longer issue new standards in the form of Statements, FASB Staff Positions (“FSP”), or Emerging Issues Task Force Abstracts; instead the FASB will issue Accounting Standards Updates (“ASUs”). ASUs will not be authoritative in their own right as they will only serve to update the ASC. These changes and the ASC itself do not change GAAP. Other than the manner in which new accounting guidance is referenced, the adoption of these changes had no impact on the Company’s consolidated financial statements.

F-6

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2011

Basis of Consolidation

The consolidated financial statements include the accounts of American Jianye Greentech Holdings, Ltd and its wholly owned subsidiaries. All significant intercompany accounts and transactions are eliminated.

Name of Company	Place of incorporation	Attributable interest

Jianye Greentech Holding Ltd.	British Virgin Islands		100	%

Hong Kong Jianye Greentech Holding Limited	Hong Kong		100	%

Heilongjian Jianye New Clean Fuel Marketing Co. Ltd.	PRC		100	%

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency Translation

The Company’s financial statements are presented in the U.S. dollar ($), which is the Company’s reporting currency, while its functional currency is Chinese Renminbi (RMB). Transactions in foreign currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the consolidated statements of income. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of income.

In accordance with ASC 830, Foreign Currency Matters, the Company translated the assets and liabilities into US $ using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation are recorded in shareholders’ equity as part of accumulated other comprehensive income.

Below is a table with foreign exchange rates used for translation:

	September 30,
	2011
Six months end RMB : USD exchange rate		6.4018
Average Nine months RMB : USD exchange rate		6.5060
Average Three months RMB : USD exchange rate		6.4231

F-7

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2011

Segment Reporting

The Company determines and discloses its segments in accordance with ASC 280, Segment Reporting. The Company’s management reporting structure provided for only one segment in 2011 and 2010 and accordingly, no separate segment information is presented.

Revenue Recognition

Revenues represent the invoiced value of goods sold recognized upon the shipment of goods to customers. Revenues are recognized when all of the following criteria are met:

· Persuasive evidence of an arrangement exists;

· Delivery has occurred or services have been rendered;

· The seller’s price to the buyer is fixed or determinable; and

· Collectability is reasonably assured.

The majority of the Company’s revenue results from sales contracts with distributors and revenue are recorded upon the shipment of goods. Management conducts credit background checks for new customers as a means to reduce the subjectivity of assuring collectability.

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Accounts Receivable

Accounts receivable are carried at original invoice amount less estimates made for doubtful receivables. Management determines the allowance for doubtful accounts at the end of the period based on a review of the current status of existing receivables, account aging, historical collection experience, subsequent collections, management's evaluation of the effect of existing economic conditions, and other known factors. The provision is provided for the above estimates made for all doubtful receivables. Account balances are charged off against the allowance only when the Company considers it is probable that a receivable will not be recovered. Recoveries of trade receivables previously written off are recorded when received. The allowance of doubtful accounts at September 30, 2011 and December 31, 2010 was $39,755 and $696, respectively.

Property and Equipment

Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the related assets as follows:

Equipment

3 to 5 years

· Expenditures for major renewals and betterment that extend the useful lives of property and equipment are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the asset and accumulated depreciation are removed from the accounts and the resulting profit or loss is reflected in the statement of income for the period.

Construction in progress represents direct costs of construction or the acquisition cost of buildings or machinery and design fees. Capitalization of these costs ceases and the construction in progress is transferred to plant and equipment when substantially all the activities necessary to prepare the assets for their intended use are completed. No depreciation is provided until the assets are completed and ready for their intended use.

F-8

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

Income Taxes

The Company follows ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates, applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

The Company adopted ASC 740-10-25 on January 1, 2007, which provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax position. The Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company did not recognize any additional liabilities for uncertain tax positions as a result of the implementation of ASC 740-10-25.

Fair Value Measurements

ASC 820 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

ASC 820 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 establishes three levels of inputs that may be used to measure fair value:

· Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company holds. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

· Level 2 – Valuation based on quoted prices in markets that are not active for which all significant inputs are observable, either directly or indirectly.

· Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The Company adopted ASC 820, Fair Value Measurements and Disclosures, on January 1, 2008 for all financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis (at least annually). ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company has also adopted ASC 820, on January 1, 2009 for non financial assets and non financial liabilities, as these items are not recognized at fair value on a recurring basis. The adoption of ASC 820 for all financial assets and liabilities and non-financial assets and non-financial liabilities did not have any impact on the Company’s consolidated financial statements.

Financial instruments include cash, accounts receivable, prepayments and other receivables, short-term borrowings from banks, accounts payable and accrued expenses and other payables. The carrying amounts of cash, accounts receivable, prepayments and other receivables, short-term loans, accounts payable and accrued expenses approximate their fair value due to the short term maturities of these instruments.

F-9

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

Concentrations

Customers: The Company distributes ethanol and methanol as alternative fuel for automobile use in China. The Company performs ongoing credit evaluations of its customers’ financial condition and generally, requires no collateral. For the nine months ended September 30, 2011, four customers accounted for 98.53% of the Company’s total revenues. Four customers represented 98.60% of accounts receivable in aggregate at September 30, 2011:

Customer	Sales for the Nine-Month Period Ended September 30, 2011
A	$	19,752,671	33.59	%
B	$	13,665,794	23.24	%
C	$	12,697,714	21.59	%
D	$	11,828,098	20.11	%
	$	57,944,277	98.53	%

Accounts Receivable ：

Customer	Accounts Receivable at September 30, 2011				Accounts Receivable at December 31, 2010
A	$	3,272,642	36.69	%	$	119,053	76.99	%
B	$	2,010,372	22.54	%	$	26,275	16.99	%
C	$	1,563,217	17.52	%	$	-	-
D	$	1,949,452	21.85	%	$	-	-
	$	8,795,683	98.60	%	$	145,328	93.98	%

Suppliers: For the nine months ended September 30, 2011, five suppliers accounted for 100.00% of the Company’s total purchase. Management believes other vendors could supply similar products, but their terms may not be as favorable as currently being offered by this vendor.

Accounts Payable ：

Supplier	Accounts Payable at September 30, 2011				Accounts Payable at December 31, 2010
A	$	12,810,288	81.42	%	$	10,341,098	91.91	%
B		-	-			792,457	7.04	%
C		1,955,734	12.43	%		75,184	0.67	%
D		21,869	0.14	%		42,501	0.38	%
E		506,108	3.22	%		-	-
F		439,876	2.79	%		-	-
	$	15,733,875	100.00	%	$	11,251,240	100.00	%

F-10

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

Recent accounting pronouncements

In April 2011, the FASB issued ASU 2011-02, Receivable (Topic 310) “A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring”, which clarifies when creditors should classify loan modifications as troubled debt restructurings. The guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructurings occurring on or after the beginning of the year. The guidance on measuring the impairment of a receivable restructured in a troubled debt restructuring is effective on a prospective basis. A provision in ASU 2011-02 alsosupersedes the FASB’s deferral of the additional disclosures about troubled debt restructurings as required by ASU 2010-20. The adoption of ASU 2011-02 is not expected to have a material impact on the Company’s financial condition or results of operations.

In April 2011, the FASB issued ASU 2011-03, Transfers and Servicing (Topic 860), Consideration of Effective Control on Repurchase Agreements, which deals with the accounting for repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. ASU 2011-03 changes the rules for determining when these transactions should be accounted for as financings, as opposed to sales. The guidance in ASU 2011-03 is effective for the first interim or annual period beginning on or after December 15, 2011. The guidance should be applied prospectively to transactions or modifications of existing transactions that occur on or after the effective date. Early adoption is not permitted. The adoption of ASU 2011-03 is not expected to have a material impact on the Company’s financial condition or results of operation.

In May 2011, the FASB issued ASU 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and International Financial Reporting Standards (“IFRS”). ASU 2011-04 clarifies some existing concepts, eliminates wording differences between U.S. GAAP and IFRS, and in some limited cases, changes some principles to achieve convergence between U.S. GAAP and IFRS. ASU 2011-04 results in a consistent definition of fair value and common requirements for measurement of and disclosure about fair value between U.S. GAAP and IFRS. ASU 2011-04 also expands the disclosures for fair value measurements that are estimated using significant unobservable (Level 3) inputs. ASU 2011-04 will be effective for the Company beginning after December 15, 2011. The Company does not expect the adoption of ASU 2011-04 to have a material effect on its operating results or financial position.

In June 2011, the Financial Accounting Standard Board (“FASB”) issued Accounting Standard Update (“ASU”) 2011-05, Comprehensive Income (Topic 220) Presentation of Comprehensive Income, which requires an entity to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income, or in two separate but consecutive statements. ASU 2011-05 eliminates the option to present components of other comprehensive income as part of the statement of equity. ASU 2011-05 will be effective for the Company beginning after December 15, 2011. The Company does not expect the adoption of ASU 2011-05 to have a material effect on its operating results or financial position but is evaluating the format revision on the presentation of comprehensive income.

In September 2011, the FASB has issued Accounting Standards Update (ASU) No. 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment. ASU 2011-08 is intended to simplify how entities, both public and nonpublic, test goodwill for impairment. ASU 2011-08 permits an entity to first assess qualitative factors to determine whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in Topic 350, Intangibles-Goodwill and Other. The more-likely-than-not threshold is defined as having a likelihood of more than 50%. ASU 2011-08 is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted, including for annual and interim goodwill impairment tests performed as of a date before September 15, 2011, if an entity’s financial statements for the most recent annual or interim period have not yet been issued or, for nonpublic entities, have not yet been made available for issuance.

F-11

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

NOTE 2 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of following:

	September 30, 2011			December 31, 2010

Equipment	$	1,632		$	1,585
		1,632			1,585
Less: Accumulated depreciation		(720	)		(323	)
		912			1,262
Construction in progress		4,951,778			4,855,774
	$	4,952,690		$	4,857,036

Depreciation expense was approximately $382 and $4,784 for the nine months ended September 30, 2011 and 2010.

NOTE 3 – PREPAID CONSTRUCTION COSTS

Prepaid construction costs are paid for the construction of plants in the production bases in Tieling City in Liaoning Province of the PRC.

NOTE 4 – DEPOSITS FOR ACQUISITION OF A LAND USE RIGHT

Deposits are paid for acquisition of the land use right of the production bases in Tieling City in Liaoning Province of the PRC.

The total acquisition costs of the land use right is amounting to $9,419,226 (RMB 60,300,000). The unpaid balance, amounting to $7,700,959 (RMB 49,300,000) will be paid on or before January 25, 2012.

NOTE 5 – NOTES RECEIVABLE FOR STOCK SUBSCRIPTION

The Notes receivable are the proceeds of the stock issued but the subscribers have not paid before the year ended December 31, 2010.

NOTE 6 – DUE FROM/TO A SHAREHOLDER

The amount due from a shareholder is receivable from Mr. Haipeng Wang, the Chairman of the Group. This amount is unsecured, interest-free and repayable on demand.

The amount due to a shareholders is payable to Mr. Haipeng Wang, the Chairman of the Group. This amount is unsecured, interest-free and repayable on demand.

F-12

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2011

NOTE 7 – DUE FROM RELATED COMPANIES

Names of related companies:	Note:	September 30, 2011		December 31, 2010

Heilongjiang Jianye Real Estates Co., Ltd	(i)	$	362,850	$	-

Heilongjiang Jianye Building Mgt Co., Ltd	(ii)		28,336		-
		$	391,186	$	-

These advance bear no interest and are payable on demand.

(i)	Heilongjiang Jianye Real Estates Co., Ltd

Harbin Dayang Trading Co., Ltd, another related company of the Group, holds 97.72% interest, and Mr. Haipeng Wang has 1.14% interest, in this company.

(ii)	Heilongjiang Jianye Building Mgt Co., Ltd

Mr. Jianye Wang holds 25% interest, and Mr. Haipeng Wang, the Chairman of the Group holds 8.33% interest, in this company.

NOTE 8 – EARNINGS PER SHARE

The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share are computed using the weighted average number of shares outstanding during the fiscal year. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. Potentially dilutive common shares consist of convertible preferred stock (using the if-converted method) and exercisable warrants outstanding.

The following table sets forth the computation of basic and diluted net income per common share:

Nine months Ended ,September 30,	2011		2010

Net income	$	6,436,617	$	5,666,276

Weighted-average shares of common stock outstanding
Basic		33,326,876		31,100,770
Dilutive shares:		-		-

Diluted		33,326,876		31,100,770

Basic and dilutive earnings per share	$	0.19	$	0.18

F-13

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

NOTE 9 - INCOME TAXES

Jianye Greentech Holdings Ltd was incorporated in British Virgin Islands and is not subject to any income tax.

Hong Kong Jianye Greentech Holdings Limited was incorporated in Hong Kong and has not yet realized income as of September 30, 2011 and no provision for income taxes has been made.

Heilongjian New Jianye New Clean Fuel Marketing Ltd. was incorporated in the People’s Republic of China and is subject to PRC Enterprise Income Tax on net income at a rate of 25%.

Deferred tax assets and liabilities are measured based on the difference between the financial statement and tax bases of assets and liabilities at the applicable tax rates. There were no significant components of the deferred tax for the period ended September 30, 2011 and 2010.

NOTE 10 - STOCKHOLDERS’ EQUITY

On November 24, 2009, the Company filed an Amended and Restated Articles of Incorporation with the Secretary of State of Nevada, to effect a 7.89 for 1 forward split of the issued and outstanding common shares of the Company whereby every one share of common stock held were exchanged for 7.89 shares of common stock. As a result, the issued and outstanding shares of common stock were increased from 3,941,796 prior to the forward split to approximately 31,100,770 following the forward stock split. The authorized capital were changed at 394,500,000 shares of common stock and any shareholder who beneficially owned a fractional share of common stock after the forward stock split had their fractional share rounded up to the nearest whole share. All references in the accompanying financial statements to the number of shares outstanding, per share amounts of the Company’s common stock have been adjusted to reflect the effect of the stock forward split. Shareholders’ equity reflects the stock forward split by reclassifying from “Common Stock” to “Additional Paid-in Capital” an amount equal to the par value of the increased shares arising from the forward split.

In November 2009, the Company’s Board of Directors approved another Amended and Restated Articles of Incorporation with the Secretary of State of Nevada, to amend the Company’s Articles of Incorporation to: (i) change the name of the Company to “American Jianye Greentech Holdings Ltd.” (ii) increase the number of the Company’s authorized shares of capital stock from 394,500,000 shares to 400,000,000 of which 394,500,000 shares will be common stock par value $0.001 per share and 5,500,000 shares will be preferred stock par value $0.001 per share; and (iii) authorize the Board of Directors to provide for the issuance of shares of preferred stock in series and, by filing a certificate pursuant to the Nevada Revised Statutes, to establish from time to time the number of shares to be included in each such series, and to fix the designation, power, preferences and rights of the shares of each such series and the qualifications, limitations and restrictions.

NOTE 11 - CAPITALIZATION

The common stock was $33,110 with paid-in capital $926,890 as of December 31, 2010.

Subscription agreements were entered in 2010 for issuance of 1,000,000 shares at a price of $0.15 per share. The proceeds of $90,000 for the issuance of 600,000 shares are settled in 2011. The issuance of these 600,000 shares was reported as reduction in stockholders’ equity as the proceeds have not been received in the financial statements as of December 31, 2010.

50,000 shares were issued in the third quarter of 2011 for the engagement of a placement agent. The market price was valued at $0.28 per share on the issue date of these shares.

F-14

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2011

NOTE 12- RELATED PARTY TRANSACTIONS

Transactions with Harbin Dayang Trading Co., Ltd

Mr. Haipeng Wang, the Chairman of the Group, holds 15% interest, and his father, Mr. Jianye Wang holds 70% interest in this company.

As of September 30, 2011, no advance received from or paid to this related company.

Transactions with Heilongjiang Jianye Real Estates Co., Ltd

Harbin Dayang Trading Co., Ltd, another related company of the Group, holds 97.72% interest, and Mr. Haipeng Wang has 1.14% interest, in this company.

As of September 30, 2011, we had a balance of advance paid to this related company totaling $362,850.

Transactions with Heilongjiang Jianye Fuel Co., Ltd

Mr. Haipeng Wang, Mr. Haipeng Wang; and Heilongjiang Jianye Real Estates Co., Ltd, another related company of the Group, are the majority shareholders of Heilongjiang Jianye Fuel Co., Ltd, hold in total of 97.83% interests.

As of September 30, 2011, we had a balance of an advance received from this related company totaling $1,301. This advance bears no interest and is payable on demand.

Transactions with Zhaodong City Jianye Fuel Co., Ltd

China Jianye Fuel, Inc., of which the majority shareholder is Mr. Jianye Wang, holds 100% interests in this company.

As of September 30, 2011, we had a balance of advance received from this related company totaling $179,694.

For the nine months ended September 30, 2011, no inventories had been purchased from this related company.

Transactions with Heilongjiang Jianye Building Mgt Co., Ltd

Mr. Jianye Wang holds 25% interest, and Mr. Haipeng Wang holds 8.33% interest, in this company.

As of September 30, 2011, we had a balance of advance received from this related company totaling $28,336. This advance bears no interest and is payable on demand.

Transactions with Harbin Jianye Construction Engineering Co., Ltd

Harbin Dayang Trading Co., Ltd , Heilongjiang Jianye Real Estates Co., Ltd, related companies of the Group, holds 49% and 40% of interests respectively, and Mr. Haipeng Wang holds 11% interest of this company.

Harbin Jianye Construction Engineering Co., Ltd is the main contractor of the construction project for production bases in Tieling City of the Liaoning Province in the PRC.

As of September 30, 2011, we had balances of prepaid construction costs to this related company totaling $19,128,977.

Due from a shareholder – At September 30, 2010, the Company had advances from the Company’s Chairman and major shareholder in the amount of $939,772. The advances to this shareholder are non-interest bearing and without fixed terms of repayment.

F-15

Note 13 - COMMITMENTs

The Group has entered into an agreement for the acquisition of land use right. The total acquisition costs of the land use right is amounting to $9,419,226 (RMB 60,300,000). The unpaid balance, amounting to $7,700,959 (RMB 49,300,000) will be paid on or before January 25, 2012.

Note 14 - Subsequent Events

In preparing these financial statements, the Company evaluated the events and transactions that occurred from January 1, 2011 through November 18, 2011, the date these financial statements were issued. The Company has made the required additional disclosures in reporting periods in which subsequent events occur.

F-16

Item 2. Management's Discussion And Analysis Of Financial Condition And Plan Of Operation.

This Quarterly Report contains forward-looking statements within the meaning of the federal securities laws. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "management believes" and similar language. The forward-looking statements are based on the current expectations of the Company and are subject to certain risks, uncertainties and assumptions, including those set forth in the discussion under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this report. Actual results may differ materially from results anticipated in these forward-looking statements. We base the forward-looking statements on information currently available to us, and we assume no obligation to update them.

Investors are also advised to refer to the information in our previous filings with the Securities and Exchange Commission (SEC), especially on Forms 10-K, 10-Q and 8-K, in which we discuss in more detail various important factors that could cause actual results to differ from expected or historic results. It is not possible to foresee or identify all such factors. As such, investors should not consider any list of such factors to be an exhaustive statement of all risks and uncertainties or potentially inaccurate assumptions.

Results of Operations

Jianye Greentech Holdings Ltd (“Jianye BVI”) was incorporated on April 17, 2008 under the laws of British Virgin Islands. Jianye BVI is a holding company that owns 100% of Hong Kong Jianye Greentech Holdings Limited (“Jianye Hong Kong”), a corporation incorporated on May 2, 2008 under the laws of Hong Kong. Jianye BVI and Jianye Hong Kong currently have no operations and operate as investment holding companies. On September 28, 2009, Jianye Hong Kong established Heilongjiang New Jianye New Clean Fuel Marketing Ltd. (“Jianye China”), a wholly owned subsidiary in China, with registered capital of US$50,000. As a result, Jianye BVI owns 100% of the equity of Jianye China through Jianye Hong Kong. Jianye China’s primary business is to distribute ethanol and methanol as alternative fuel for automobile use.

Heilongjian New Jianye Clean Fuel Marketing Ltd. (“Jianye China”) commenced operations in September 2009. Jianye China’s primary business is to distribute ethanol and methanol as alternative fuel for automobile use.

For the nine months ended September 30, 2011, we derived our revenues of $55,191,711 from the sales of methanol-based and ethanol based fuels to our customers, comparing to $57,340,164 for the nine months ended September 30, 2010.

Our gross profit margin during the nine months ended September 30, 2011 was 16.8%, %, compared to 13.6% for the same period in 2010. This figure represents our regular gross profit margin as a marketing company and distributor. We expect our gross profit margin to be significantly higher once the Company’s own refinery is built and commences fuel production. The construction of factory and production facilities is expected to be complete by the end of fiscal year of 2011.

Selling, general and administrative expenses for the nine months ended September 30, 2011 were $542,905 or 0.98% of net sales, compared to $203,083 or 0.50% for the last fiscal year. Selling, general and administrative expenses consist primarily of payroll, local taxes, investor relation expenses and professional fees.

Income from operations for the nine months ended September 30, 2011 was $8,705,317, and net income after income taxes for the same period was $6,436,617, compared to $7,580,957and $5,666,276 respectively for the same period in 2010.

Our business operates primarily in Chinese Renminbi (“RMB”), but we report our results in our SEC filings in U.S. Dollars. The conversion of our accounts from RMB to Dollars results in translation adjustments. While our net income is added to the retained earnings on our balance sheet; the translation adjustments are added to a line item on our balance sheet labeled “accumulated other comprehensive income,” since it is more reflective of changes in the relative values of U.S. and Chinese currencies than of the success of our business. During the nine months ended September 30, 2011 , the effect of converting our financial results to Dollars was to add $$232,127 to our accumulated other comprehensive income.

Liquidity and Capital Resources

Our operations to date have been funded primarily by operations and capital contributions.

Our working capital at September 30, 2011 totaled $11,086,781. Included in our working capital, however, there was $19,128,977 of prepaid construction costs which will be transferred to plant and equipment upon completion of construction of our refinery. We have, therefore, relatively small amount of liquid assets.

Capital Expenditure

Total capital expenditures during the nine months ended September 30, 2011 was $60,000.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.

Critical Accounting Policies and Estimates

This discussion and analysis of our financial condition and results of operations are based on our financial statements that have been prepared under accounting principle generally accepted in the United States of America. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents include cash and all highly liquid instruments with original maturities of three months or less.

Accounts Receivable

Recent accounting pronouncements

In April 2011, the FASB issued ASU 2011-02, Receivable (Topic 310) “A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring”, which clarifies when creditors should classify loan modifications as troubled debt restructurings. The guidance is effective for interim and annual periods beginning on or after June 15, 2011, and applies retrospectively to restructurings occurring on or after the beginning of the year. The guidance on measuring the impairment of a receivable restructured in a troubled debt restructuring is effective on a prospective basis. A provision in ASU 2011-02 also supersedes the FASB’s deferral of the additional disclosures about troubled debt restructurings as required by ASU 2010-20. The adoption of ASU 2011-02 is not expected to have a material impact on the Company’s financial condition or results of operations.

Impact of Accounting Pronouncements

There were no recent accounting pronouncements that have had a material effect on the Company’s financial position or results of operations.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not required for smaller reporting companies.

Item 4.Controls and Procedures.

Disclosure Controls and Procedures

Regulations under the Securities Exchange Act of 1934 (the “Exchange Act”) require public companies to maintain “disclosure controls and procedures,” which are defined as controls and other procedures that are designed to ensure that information required to be disclosed by the issuer in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

We conducted an evaluation, with the participation of our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures as of September 30, 2011. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of September 30, 2011, our disclosure controls and procedures were not effective at the reasonable assurance level due to the material weaknesses described below.

In light of the material weaknesses described below, we performed additional analysis to ensure our financial statements were prepared in accordance with generally accepted accounting principles. Accordingly, we believe that the financial statements included in this report fairly present, in all material respects, our financial condition, results of operations and cash flows for the periods presented.

A material weakness is a control deficiency (within the meaning of the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 2) or combination of control deficiencies that result in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. Management has identified the following two material weaknesses which have caused management to conclude that, as of September 30, 2011, our disclosure controls and procedures were not effective at the reasonable assurance level:

1. We do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act which is applicable to us for the quarter ending September 30, 2011. Management evaluated the impact of our failure to have written documentation of our internal controls and procedures on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

2. We do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our size and nature, segregation of all conflicting duties may not always be possible and may not be economically feasible. However, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals. Management evaluated the impact of our failure to have segregation of duties on our assessment of our disclosure controls and procedures and has concluded that the control deficiency that resulted represented a material weakness.

To address these material weaknesses, management performed additional analyses and other procedures to ensure that the financial statements included herein fairly present, in all material respects, our financial position, results of operations and cash flows for the periods presented.

Management's Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the supervision of, the issuer’s principal executive and principal financial officers and effected by the issuer’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:

· Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the issuer;

· Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the issuer; and

· Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the issuer’s assets that could have a material effect on the financial statements

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 or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk.

As of the end of our most recent quarter, management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, as of September 30, 2011, such internal control over financial reporting was not effective. This was due to deficiencies that existed in the design or operation of our internal control over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses.

The matters involving internal control over financial reporting that our management considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; and (2) inadequate segregation of duties consistent with control objectives of having segregation of the initiation of transactions, the recording of transactions and the custody of assets. The aforementioned material weaknesses were identified by our Chief Financial Officer in connection with the review of our financial statements as of September 30, 2011.

Management believes that the material weaknesses set forth in items (1) and (2) above did not have an effect on our financial results. However, management believes that the lack of a functioning audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.

This quarterly report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only the management's report in this annual report.

Management's Remediation Initiatives

In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:

We intend to our personnel resources and technical accounting expertise within the accounting function. First, we intend to create a position to segregate duties consistent with control objectives of having separate individuals perform (i) the initiation of transactions, (ii) the recording of transactions and (iii) the custody of assets. Second, we intend to create a senior position to focus on financial reporting and standardizing and documenting our accounting procedures with the goal of increasing the effectiveness of the internal controls in preventing and detecting misstatements of accounting information. Third, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us. We anticipate the costs of implementing these remediation initiatives will be approximately $37,500 to $50,000 a year in increased salaries, legal and accounting expenses.

Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.

We anticipate that these initiatives will be at least partially, if not fully, implemented by December 31, 2011.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings.

To the best knowledge of the officers and directors, the Company was not a party to any legal proceeding or litigation as of September 30, 2011.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. (Removed and Reserved)

Item 5. Other Information.

None.

Item 6. Exhibits.

Exhibit		Description of Exhibit
31.1		Chief Executive Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Chief Financial Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1		Chief Executive Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002

32.2		Chief Financial Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002

101		The following materials from American Jianye Greentech Holdings, Ltd.’s Quarterly Report on Form 10-Q for the period ended September 30, 2011 are formatted in eXtensible Business Reporting Language (XBRL): (i) the Condensed Consolidated Balance Sheet; (ii) the Condensed Consolidated Statement of Operations;, (iii) the Condensed Consolidated Statements of Cash Flows, and (iv) Notes to Condensed Consolidated Financial Statements. This Exhibit 101 is deemed not filed for purposes of Sections 11 or 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AMERICAN JIANYE GREENTECH HOLDINGS, LTD.

By:	/s/ Haipeng Wang
Name: Haipeng Wang
Title: President
Date: November 21, 2011
(Principal Executive Officer)

By:	/s/ Yulin Yang
Name: Yulin Yang
Title: Chief Financial Officer
Date: November 21, 2011
(Principal Accounting Officer)

TABLE OF CONTENTS

Part I Financial Information Item 1. Financial Statements 3 Item 2. Management S Discussion and Analysis Of Financial Condition and Results Of Operations 4 Item 3. Quantitative and Qualitative Disclosures About Market Risk 6 Item 4. Control and Procedures 6 Part II Other Information Item 1 Legal Proceedings 10 Item 2. Unregistered Sales Of Equity Securities and Use Of Proceeds 10 Item 3. Defaults Upon Senior Securities 10 Item 4. (removed and Reserved) 10 Item 5. Other Information 10 Item 6. Exhibits 10 Item 1. Financial Information Note 1- Nature Of Operations and Summary Of Accounting Policies Note 2 - Property, Plant and Equipment Note 3 Prepaid Construction Costs Note 4 Deposits For Acquisition Of A Land Use Right Note 5 Notes Receivable For Stock Subscription Note 6 Due From/to A Shareholder Note 7 Due From Related Companies Note 8 Earnings Per Share Note 9 - Income Taxes Note 10 - Stockholders Equity Note 11 - Capitalization Note 12- Related Party Transactions Note 13 - Commitments Note 14 - Subsequent Events Item 2. Management's Discussion and Analysis Of Financial Condition and Plan Of Operation Item 3. Quantitative and Qualitative Disclosures About Market Risk Item 4. Controls and Procedures Item 1. Legal Proceedings Item 2. Unregistered Sales Of Equity Securities and Use Of Proceeds Item 3. Defaults Upon Senior Securities Item 4. (removed and Reserved)Item 5. Other Information Item 6. Exhibits

SUIC 10-Q Quarter ended Sept. 30, 2011