NOTE 1. ORGANIZATION AND PRINCIPAL ACTIVITIES Network CN Inc. was originally incorporated on September 10, 1993 in Delaware with headquarters in the Hong Kong Special Administrative Region of the Peoples Republic of China (PRC or China). Since August 2006, the Company has been principally engaged in the provision of out-of-home advertising in China through the operation of a network of roadside LED digital video panels, mega-size LED digital video billboards and light boxes in major cities. Details of the Companys principal subsidiaries and variable interest entities as of September 30, 2020, are described in Note 3  Subsidiaries and Variable Interest Entities. Private Placement On March 28, 2019, the Company sold an aggregate of 35,000 shares of the Companys common stock (the Shares) to 9 foreign investors (the New Investors) pursuant to the terms of a Common Stock Purchase Agreement between the Company and the New Investors, dated March 28, 2019. The purchase price paid by the New Investor for the Shares were $1.50 or $1.88 per Share for an aggregate sum of sixty-three thousand, three hundred and seventy-five U.S. dollars and thirty cents (US$63,375). Net proceeds from the financing will be used for general corporate purposes. On August 16, 2019, the Company sold 5,000 shares of the Companys common stock (the Shares) to a foreign investor (the Investor) pursuant to the terms of a Common Stock Purchase Agreement between the Company and the Investor, dated August 16, 2019. The purchase price paid by the Investors for the Shares was $1.875 per Share for an aggregate sum of nine thousand three hundred and seventy-five U.S. dollars (US$9,375). Net proceeds from the financing have been used for general corporate purposes. Identification of New projects On January 14, 2020, the Company entered into a Letter of Intent with Earthasia Worldwide Holdings Limited (EWHL) that the Company will acquire 100% of the EWHLs issued and outstanding stock owned by the shareholders of the EWHL and the EWHL will become a wholly owned subsidiary of the Company. On July 23, 2020, the Company entered into Share Exchange Agreement with Ease Global Limited (Ease Global), the shareholder of Trade More Global Limited (Trade More) that the Company will purchase, One Thousand and One Hundred (1,100) currently issued shares of common stock of Trade More from Ease Global and in exchange for Forty-nine Million (49,000,000) shares of newly-issued shares of common stock of the Company. The closing of the Exchange shall occur on September 2, 2020 or such other date as agreed by the parties of the Share Exchange Agreement. Upon completion of the Exchange, 78% of issued shares of common stock of the Company shall be held by the Ease Global while all of the shares of capital stock of Trade More shall be held by the Company. EWHL is a wholly owned subsidiary of Trade More. Increase of authorized capital On April 28, 2020, the Board of Directors and Majority of stockholders of the Company approved to increase the total number of authorized shares of Common Stock from 26,666,667 to 100,000,000,000. Going Concern The Company has experienced recurring net losses of $229,367 and $673,269 for the nine months ended September 30, 2020 and 2019, respectively. Additionally, the Company has net cash used in operating activities of $666,309 and $105,758 for the nine months ended September 30, 2020 and 2019, respectively. As of September 30, 2020 and December 31, 2019, the Company has stockholders deficit of $12,872,076 and $12,642,722, respectively. These factors raise substantial doubt about the Companys ability to continue as a going concern. The Companys plans regarding those concerns are addressed in the following paragraph. The unaudited consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. In response to current financial conditions, the Company has undergone a drastic cost-cutting exercise, including reduction of the Companys workforce, office rentals and other general and administrative expenses. The Company has actively explored new prominent media projects in order to provide a wider range of media and advertising services and improve our financial performance. If the project can start to operate, the Company expects that the project will improve the Companys future financial performance. The Company expects that the new project can generate positive cashflow. The existing cash and cash equivalents together with highly liquid current assets are insufficient to fund the Companys operations for the next twelve months. The Company will need to rely upon some combination of cash generated from the Companys operations, the proceeds from the potential exercise of the outstanding option held by Keywin Holdings Limited (Keywin) to purchase $2 million in shares of the Companys common stock, or proceeds from the issuance of the Companys equity and debt securities as well as the exercise of the conversion option by the Companys note holders to convert the notes to the Companys common stock, in order to maintain the Companys operations. Based on the Companys best estimates, the Company believes that there are sufficient financial resources to meet the cash requirements for the coming twelve months and the consolidated financial statements have been prepared on a going concern basis. However, there can be no assurance the Company will be able to continue as a going concern.