**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 10-Q**

[   ] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended **December 31, 2012**

[ X ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from **October 1, 2012  to December 31, 2012**

 

                                           

**Realgold International, Inc.**

(Name of Registrant as Specified in its Charter)
| **Nevada**

** **

**000-21909**

** **

**86-0779928**

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer ID No.)

**Unit 1202, Level 12, One Peking,**

**1 Peking Road, Tsim Sha Tsui,**

**Kowloon, Hong Kong**

 (Address of principal executive office)

Registrant's telephone number, including area code: **+852 39809369 **

Copy of Communications To:

**Bernard & Yam, LLP **

**Attention: Bin Zhou, Esq. **

**401 Broadway Suite 1708 **

**New York, NY 10013 **

**Tel: 212-219-7783 **

**Fax: 212-219-3604 **

(Name, Address and Telephone Number of Person 

Authorized to Receive Notice and Communications on Behalf of Registrant) 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.        

Yes [X]   No [   ]

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  [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See definitions of “large accelerated filer,”“accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer [ ]

Accelerated Filer [ ]

Non-accelerated Filer [ ]

Smaller Reporting Company [X]

 

 

 

 

 

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]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: as of  February 19,  2013, there are 51,960,101 shares of common stock issued and outstanding.

1

**Part I - FINANCIAL INFORMATION**

**Item 1. Financial Statements**

**Realgold International Inc.**

** (formerly Piranha Ventures, Inc.)**

CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

December 31, 2012

The financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. However, in the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made. These financial statements should be read in conjunction with the accompanying notes, and with the historical financial information of the Company.

2

**REALGOLD INTERNATIONAL INC.**

**(FORMERLY KNOWN AS PIRANHA VENTURES, INC.)**

**CONSOLIDATED BALANCE SHEETS - Unaudited**

 

 

 

 

 

 

 

 

 

December 31,

 

March 31,

 

 

 

2012

 

2012

          **ASSETS**

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

     Cash in bank

 

 

 $         37,810 

 

 $       581,000 

     Prepaid expenses

 

 

                  -   

 

            22,000 

 

 

 

 

 

 

          Total Current Assets

 

 

         37,810 

 

          603,000 

 

 

 

 

 

 

Related party receivables

 

 

          809,901 

 

                    - 

 

 

 

 

 

 

TOTAL ASSETS

 

 

 $       847,711 

 

 $       603,000 

 

 

 

 

 

 

**LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)**

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

     Accounts Payable

 

 

 $         32,210 

 

 $                -   

     Other Payable

 

 

             3,823 

 

                    - 

     Shareholder Payable

 

 

                 - 

 

            12,442 

 

 

 

 

 

 

          Total Current Liabilities

 

 

            36,033 

 

            12,442 

 

 

 

 

 

 

STOCKHOLDERS' EQUITY (DEFICIT)

 

 

 

 

 

     Preferred stock; $.001 par value, 10,000,000 shares

 

 

 

 

 

      authorized; 20,000 shares issued and outstanding, respectively

 

                  20 

 

                  20 

 

 

 

 

 

 

     Common stock; $.001 par value, 990,000,000 shares

 

 

 

 

 

       authorized; 51,960,101 and 7,270,101 shares

 

 

 

 

 

       issued and outstanding, respectively

 

 

            51,960 

 

             7,270 

     Capital in excess of par value

 

 

       8,992,918 

 

       8,590,708 

     Retained deficit

 

 

      (8,233,217)

 

      (8,007,440)

     Accumulated other comprehensive income

 

 

                   (3)

 

                    - 

 

 

 

 

 

 

          Total Stockholders' Equity (Deficit)

 

 

          811,678 

 

          590,558 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

 

 $       847,711 

 

 $       603,000 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements.

3

**REALGOLD INTERNATIONAL INC.**

**(FORMERLY KNOWN AS PIRANHA VENTURES, INC.)**

**CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - UNAUDITED**

 

 

 

 

 

 

 

 

 

 

 

Fort the three months ended

 

For the nine months ended

 

 

December 31,

 

December 31,

 

December 31,

 

December 31,

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Revenue

 

 $               48,431 

 

                        -   

 

 $               48,431 

 

                        -   

Cost of sales

 

                  35,162 

 

                        -   

 

                 35,162 

 

                        -   

Gross Margin

 

                  13,269 

 

                        -   

 

                 13,269 

 

                        -   

 

 

 

 

 

 

 

 

 

EXPENSES

 

 

 

 

 

 

 

 

     General and administrative

 

                  33,004 

 

                 12,442 

 

                239,046 

 

                 23,970 

        Total expenses

 

                  33,004 

 

                 12,442 

 

                239,046 

 

                 23,970 

 

 

 

 

 

 

 

 

 

OPERATING LOSS

 

                 (19,735)

 

                (12,442)

 

               (225,777)

 

                (23,970)

 

 

 

 

 

 

 

 

 

OTHER INCOME AND EXPENSE

 

 

 

 

 

 

 

 

     Interest expense

 

                        -   

 

                        -   

 

                        -   

 

                        -   

 

 

 

 

 

 

 

 

 

LOSS BEFORE INCOME TAXES

 

                 (19,735)

 

                (12,442)

 

               (225,777)

 

                (23,970)

     Provision for income taxes

 

                        -   

 

                        -   

 

                        -   

 

                        -   

 

 

 

 

 

 

 

 

 

NET LOSS 

 

 $              (19,735)

 

 $              (12,442)

 

 $            (225,777)

 

 $              (23,970)

COMPREHENSIVE LOSS

 

 

 

 

 

 

 

 

Foreign currency translation loss

 

                         (3)

 

                        -   

 

                        (3)

 

                        -   

 

 

 

 

 

 

 

 

 

COMPREHENSIVE LOSS

 

 $              (19,738)

 

 $              (12,442)

 

 $            (225,780)

 

 $              (23,970)

LOSS PER SHARE - basic and diluted

 

 $                 (0.00)

 

 $                 (0.01)

 

 $                 (0.02)

 

 $                 (0.02)

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF COMMON SHARES- basic and diluted

 

           26,700,536 

 

 $          1,270,101 

 

           13,770,465 

 

 $          1,270,101 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these financial statements. 

4

**REALGOLD INTERNATIONAL INC.**

**(FORMERLY KNOWN AS PIRANHA VENTURES, INC.)**

**STATEMENTS OF CASH FLOWS - unaudited**

 

 

 

 

 

For the nine months ended

 

December 31

 

December 31

 

2012

 

2011

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

     Net (loss)

 $          (225,777)

 

 $            (23,970)

     Adjustments to reconcile net (loss) to net cash used

 

 

 

     by operating activities 

 

 

 

     Changes in assets and liabilities:

 

 

 

          Prepaid expenses

                 22,000 

 

                            - 

          Accounts Payable

                 32,210 

 

 

          Other Payable

                   3,823 

 

                  (2,360)

 

 

 

 

          Net cash (used) by operating activities

             (167,744)

 

               (26,330)

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

     Advanced to related party

             (809,901)

 

                            - 

          Net Cash Required By Investing Activities

             (809,901)

 

                            - 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

     Loan from related party

                            - 

 

                   9,197 

     Payments - related party payable

               (12,442)

 

                            - 

     Proceeds from Sale of common stock

               446,900 

 

                 16,635 

 

 

 

 

          Net Cash Provided By Financing Activities

               434,458 

 

                 25,832 

 

 

 

 

Effect of Changes in Exchange Rate

                          (3)

 

                            - 

NET INCREASE (DECREASE) IN CASH

             (543,190)

 

                     (498)

CASH - BEGINNING OF PERIOD

               581,000 

 

                            - 

CASH - END OF PERIOD

 $              37,810 

 

 $                  (498)

 

 

 

 

SUPPLEMENTAL INFORMATION

 

 

 

     Interest paid during the period

 $                         - 

 

 $                         - 

 

 

 

 

     Income taxes paid during the period

 $                         - 

 

 $                         - 

 

 

 

 

The accompanying notes are an integral part of these financial statements.

5

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

**Note 1: Basis of Presentation and Summary of Significant Accounting Policies**

The interim condensed consolidated financial statements included herein, presented in accordance with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these interim condensed consolidated financial statements be read in conjunction with the Form 8-K/A Current Report filed by the Company on November 22, 2012 . The Company follows the same accounting policies in the preparation of interim reports.

Organization – Realgold International Inc. (formerly Piranha Ventures, Inc.) (the “Company” or “Realgold”) was incorporated under the laws of the State of Arizona on November 14, 1994. On November 22, 1996, the Company reincorporated under the laws of the State of Nevada and effected a forward split of its common stock on a basis of approximately 242 shares of the Nevada corporation for each share of the Arizona corporation. The Company ceased to actively pursue its business operations relating to the publishing of interactive media software in July, 1999.  On December 15, 2011, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of Nevada changing its name from Piranha Ventures, Inc. to Realgold International Inc.  During December 2011, the Company established a subsidiary in Hong Kong, Realgold Venture Pte Limited (Realgold Venture”). 

On November 22, 2012, Realgold Venture entered into a Lease Management Agreement (“Lease Management Agreement”) with Zhuhai Tengfei Investment Co., Ltd. (“Tengfei Investment”), a limited liability company formed under the laws of the People’s Republic of China (“China” or “PRC”). Under the Lease Management Agreement, Tengfei Investment leased the managerial and operating rights of Zhuhai Tengda International Travel Agency Co., Ltd. (“Tengda Travel”), a wholly owned subsidiary of Tengfei Investment, to Realgold Venture. Based on the agreement, Realgold obtained 20 years of business operation right from Tengda Travel from Nov 11, 2012 to November 19, 2032 for a consideration of US$16,048 (RMB100,000) per year.

On November 25, 2012, Realgold Venture entered into an Ownership Transfer Agreement (“Ownership Transfer Agreement’) with Tengfei Investment. Under the Ownership Transfer Agreement, Tengfei Investment transfers to Realgold Venture 100% of the ownership of Zhuhai Tengda Business Hotel Co., Ltd. (“Tengda Hotel”) for a total transfer price of RMB 400,000 Yuan (approximately $64,192). 

On November 29, 2012, the Bureau of Science and Technology Industry Trade and Information of Zhuhai City approved the ownership transfer of Tengda Hotel to Realgold Venture. As of January 02, 2013, we have filed the notice of ownership transfer with Guangdong Province Department of Foreign Trade and Economic Cooperation.

Tengda Hotel and Tengda Travel are wholly owned subsidiaries of Tengfei Investment. They are considered as entities under common control. Accordingly, the financial statements for Tengda Hotel and Tengda Travel have been consolidated for all periods presented, similar to a pooling-of-interests. 

Tengda Travel is a limited liability company formed under the laws of the People’s Republic of China on December 23, 2011. As of September 30, 2012, Tengda Travel had registered capital of RMB 300,000, or approximately $47,662 based on the exchange rate as of September 30, 2012. Tengda Travel’s principal activity is to provide packaged tours, air ticketing, reservation of hotel rooms and golf courses and organize corporate conferences, exhibitions and show events for its customers. 

Tengda Hotel, formerly named Zhuhai Meihua Hotel Co., Ltd., is a limited liability company formed under the laws of the People’s Republic of China on January 16, 2006. Tengda Hotel had registered capital of RMB 500,000, or approximately $79,403 based on the exchange rate as of March 31, 2012. Tengda Hotel is a three-star hotel with 59 guest rooms, including 24 Standard Rooms, 24 Deluxe Rooms, 10 Business Rooms and 1 Luxury Suite, with many other amenities including fitness club, gym, business center, gift shop, meeting room , ballroom, game room, and a large parking lot.

Upon the completion of the said ownership transfer, Tengda Hotel becomes the wholly owned subsidiary of Realgold Venture. 

6

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

On May 23, 2012, the Board of Directors of the Company adopted an Amendment to the Articles of Incorporation to increase authorized stock from 10,000,000 preferred shares and 99,000,000 common shares to 10,000,000 preferred shares and 990,000,000 common shares.

Set forth below is the Company’s organizational chart:

Stock Split

On June 13, 2011, the Company effected a reverse stock split of the issued and outstanding shares of the Company on a ten (10) to one (1) basis with all fractional shares rounded up to the nearest whole share. The capital stock accounts, all share data and earnings per share data give effect to the stock split, applied retrospectively, to all periods presented.

Going *C*oncern – The Company’s financial statements have been prepared using accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company requires additional capital to continue its limited operations. Furthermore, the Company’s officers and directors serve in their capacities without compensation. The Company assumes that these arrangements and the availability of future capital sources will continue into the future, but no assurance thereof can be given. A change in these circumstances would have a material adverse effect on the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. 

Income Taxes

The Company utilizes the liability method of accounting for income taxes as set forth in FASC 740-20, *“Accounting for Income Taxes.”* Under the liability method, deferred taxes are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse.  An allowance against deferred tax assets is recorded when it is more likely than not that such tax benefits will not be realized.

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

7

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

On November 29, 2012, Realgold changed its fiscal year end from December 31 to March 31. Certain reclassifications have been made to the previous year’s financial statements to conform to current year presentation, with no effect on previously reported net income.

Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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

For purposes of reporting cash flows, the Company considers all highly-liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. Management believes that the Company’s cash and cash equivalents held by major banks located in the PRC are of high credit quality as of December 31, 2012.

Revenue Recognition

The Company plans to recognize revenue when the following four conditions are present: (1) persuasive evidence of an agreement exists, (2) the price is fixed or determinable, (3) delivery has occurred or services are rendered, and (4) collection is reasonably assured.

Revenue derived from hotel services is recognized when the rooms are occupied and the services are performed. Travel agency services revenues are recognized when the travel-related service, golf package service or transportation is provided, or when the organization service of corporate conferences, exhibitions and show events is commenced. Deferred revenue consisting of deposits paid in advance is recognized as revenue when the services are performed for hotels and upon commencement of travel agency services.

Credit risk

The Company may be exposed to credit risk from its cash and fixed deposits at banks. No allowance has been made for estimated irrecoverable amounts determined by reference to past default experience and the current economic environment. 

8

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

Property, plant and equipment

Fixed assets, comprising office equipment are stated at cost less accumulated depreciation. Depreciation for office equipment, except computers, is computed using the straight-line method over the estimated useful lives of 5 years. Depreciation for computers is computed using the straight-line method over the estimated useful lives of 3 years.

Comprehensive income

Comprehensive income is defined as the change in equity of a company during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. For the Company, comprehensive income for the periods presented includes net income and foreign currency translation adjustments.

Foreign currency translation 

Assets and liabilities of the Company with a functional currency other than US$ are translated into US$ using year end exchange rates. Income and expense items are translated at the average exchange rates in effect during the year. Foreign currency translation differences are included as a component of Accumulated Other Comprehensive Income in Stockholders’ Equity.

The exchange rates used to translate amounts in RMB into USD for the purposes of preparing the consolidated financial statements were as follows:

 

 

 

 

 

 

 

 

 

 

 

2012

 

Nine months end RMB : USD exchange rate

 

 

6.2313

 

Nine-months-average RMB : USD exchange rate

 

 

6.2517

 

The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into USD at the rates used in translation.

Income (Loss) Per Common Share

Basic and diluted net loss per common share is computed using the net loss applicable to common shareholders and the weighted average number of shares of common stock outstanding. Diluted net loss per common share does not differ from basic net loss per common share since potential shares of common stock from conversion of preferred stocks are anti-dilutive for all periods presented. The fully diluted shares would be 46,700,536 and 33,770,465 for the three and nine months ended December 31, 2012, respectively.

9

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

Recently Issued Accounting Pronouncements

The Company has reviewed recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operations, financial position or cash flows.  Based on that review, the Company believes that none of these pronouncements will have a significant effect on its financial statements.

**Note 2: Income Taxes**

Due to losses at December 31, 2012 and March 31, 2012, the Company had no income tax liability and thus no provision for taxes was recorded. At December 31, 2012 and March 31, 2012 the Company had available unused operating loss carry forwards of approximately $8,882,705 and $8,007,440, respectively, which may be applied against future taxable income and which expire in various years through 2030.

The amount of and ultimate realization of the benefits from the operating loss carry forwards for income tax purposes is dependent, in part, upon the tax laws in effect, the future earnings of the Company and other future events, the effects of which cannot be determined at this time. Because of the uncertainty surrounding the realization of the loss carry forwards, the Company has established a valuation allowance equal to the tax effect of the loss carry forwards and, therefore, no deferred tax asset has been recognized for the loss carry forwards. The net deferred tax assets are approximately $2,880,000 and $2,800,000 as of December 31, 2012 and March 31, 2012, respectively, with an offsetting valuation allowance of the same amount resulting in a change in the valuation allowance of approximately $80,000 during the nine months ended December 31, 2012.

The Company has no tax positions at December 31, 2012 and March 31, 2012 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.  The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.  During the period ended December 31, 2012 and March 31, 2012, the Company recognized no interest and penalties.  The Company had no accruals for interest and penalties at December 31, 2011 and March 31, 2012. Income tax periods 2009, 2010, and 2011 are open for examination by taxing authorities.

**Note 3: Capital Stock**

Preferred Stock 

The Company has 10,000,000 shares of authorized preferred stock at $0.01 par value. As of December 31, 2012 and March 31, 2012, the Company has 20,000 and 20,000 shares of preferred stock issued and outstanding, respectively.  

On February 2012 our CEO purchased series A Preferred Stock for a total price of $20,000. One share of Series A Preferred Stock may be converted into 1,000 shares of Common Stock. The 20,000 shares of Series A Preferred Stock that our CEO, Tan Lung Lai, purchased from the Company may be converted into 20,000,000 shares of common stock. The holder of each one share of Series A Preferred Stock is entitled to 1,000 votes. There is no dividend rate for this class of Preferred Stock.

*Accounting for the Series A Preferred Stock*

The Series A Preferred Stock has been classified as permanent equity as there was no redemption provision at the option of the holders. The Company evaluated the embedded conversion feature in its Series A Preferred Stock to determine if there was an embedded derivative requiring bifurcation. The Company concluded that the embedded conversion feature of the Series A Preferred Stock is not required to be bifurcated because the conversion feature is clearly and closely related to the host instrument. The Company believes the economic risks and characteristics of the Series A Preferred Stock itself and the common stock the embedded conversion feature allows the Investor to convert into have similar economic risks and characteristics. 

Stock-Based Compensation

The Company accounts for stock-based compensation under FASB ASC subtopic 718-10, *Compensation – Stock Compensation: Overall*. Under FASB Subtopic 718-10, the Company measures the cost of the employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award and recognizes the cost over the requisite service periods. 

10

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

During February, 2012, stock based compensation for $1,980,000 was recorded when the Company issued 20,000 shares of preferred stock to our CEO for proceeds of $20,000. The preferred stock has an estimated fair value of $2,000,000 on the grant date. The Company allocated proceeds of $20,000 to preferred stock and $1,980,000 was recorded as stock compensation.

Common Stock 

On April 21, 2011, the Company cancelled 500,000 shares that were issued in 2009 and 2010 to certain shareholders that in turn sold their shares to the current president of the Company with his intention to cancel the shares to reduce insider holdings. Accordingly, a credit to common stock at $500 and debit to paid-in capital was recorded. 

On June 13, 2011, the Company effected a reverse stock split of the issued and outstanding shares of the Company on a ten (10) to one (1) basis with all fractional shares rounded up to the nearest whole share. Recognizing the difficulty of odd lot shareholders to sell their shares of common stock, the reverse split did not reduce any shareholder below 100 shares so that any shareholder of record on the record date who would otherwise have had less than 100 shares as a result of the reverse split was not reduced below 100 shares.

In February 2012, the Company issued 6,000,000 shares of common stock to a group of 64 non-US individuals for a total price of $ 600,000 ($ 0.10 per share). 

On November 21, 2012, the Company entered into a Regulation S Stock Purchase Agreement with a group of 35 non-US individual purchasers (“Purchasers”). Under the Agreement, the Company issued a total of Forty-Four Million Six Hundred Ninety Thousand (44,690,000) shares of common stock to Purchasers for a total price of $ 446,900 ($ 0.01 per share).

**Note 4:  Acquisition and Pro Forma Statement**

On November 22, 2012, Realgold’s wholly owned subsidiary Realgold Venture entered into a Lease Management Agreement (“Lease Management Agreement”) with Tengfei Investment. Under the Lease Management Agreement, Tengfei Investment leased the managerial and operating rights of Tengda Travel, a wholly owned subsidiary of Tengfei Investment, to Realgold Venture.

On November 25, 2012, Realgold Venture entered into an Ownership Transfer Agreement (“Ownership Transfer Agreement’) with Tengfei Investment. Under the Ownership Transfer Agreement, Tengfei Investment transfers to Realgold Venture 100% of the ownership of Tengda Hotel for a total transfer price of RMB 400,000 Yuan (approximately $64,191).

On November 29, 2012, the Bureau of Science and Technology Industry Trade and Information of Zhuhai City approved the ownership transfer of Tengda Hotel to Realgold Venture. As of January 02, 2013, we have filed the notice of ownership transfer with Guangdong Province Department of Foreign Trade and Economic Cooperation.

Upon the completion of the said ownership transfer, Tengda Hotel becomes the wholly owned subsidiary of Realgold Venture. 

***Pro Forma Financial Information***

The unaudited pro forma financial information presented below summarizes the consolidated operating results of the Company and Tengda Hotel and Tengda Travel for the nine months ended December 31, 2012, as if the acquisition had occurred on April 1, 2012.

The pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved had the acquisition taken place on April 1, 2012. The unaudited pro forma consolidated statements of operations combine the historical results of the Company and the historical results of the acquired entity for the periods described above. 

11

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

Realgold International, Inc.

 

 

 

 

 

 

Unaudited Pro Forma Statement of Operations and Comprehensive Income

 

 

 

 

For the Nine Months Ended December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

**Historical**

 

 

 

 

 

 

 

Combined

 

 

 

 

 

 

 

Tengda Hotel and 

 

 

 

 

 

Combined

 

Tengda Travel

 

Realgold

 

Adjustments

 

Pro Forma

 

 

 

 

 

 

 

 

**Revenue**

 $                  145,190 

 

48,431 

 

 

 

 $           193,621 

**Net loss**

 $                  (21,836)

 

 $           (225,777)

 

               (8,000)

 

 $         (255,613)

 

 

 

 

 

 

 

 

**Loss per share - basic and diluted**

 

 

 $                 (0.02)

 

 

 

 $               (0.02)

 

   

 

 

 

 

 

 

**Weighted average number of common shares**

 

           13,770,465 

 

 

 

         13,770,465 

 

 

 

 

 

 

 

 

Note: The currency exchange rate is based on the average exchange rate of the related period.

(1) 

The historical operating results of the Company were based on the Company’s unaudited financial statements for the nine months ended December 31, 2012.

(2) 

The nine months historical information of Tengda Hotel and Tengda Travel were derived from the books and the records of Tengda Hotel and Tengda Travel for the six months ended Sepetember 30, 2012.

(3) 

Pro forma adjustment was based on the assumption that there are lease expense USD4,000 per quarter.

**Note 5: Shareholders Receivables**

Section 13(k) of the Exchange Act provides that it is unlawful for a company such as ours, which has a class of securities registered under Section 12(g) of the Exchange Act, to directly or indirectly, including through any subsidiary, extend or maintain credit in the form of a personal loan to or for any director or executive officer of the company. Issuers violating Section 13(k) of the Exchange Act may be subject to civil sanctions, including injunctive remedies and monetary penalties, as well as criminal sanctions. The imposition of any of such sanctions on the Company may have a material adverse effect on our business, financial position, results of operations or cash flows.

As of December 31, 2012, the indebtedness of the Company to its shareholders and related entities with common owners and directors was $809,901 as follows:  During the periods presented, the Company has receivables due from its shareholders. The loans are unsecured and bear no interest. These loans have no fixed payment terms.

12

**Realgold International Inc.**

**(formerly Piranha Ventures, Inc.)**

**Notes to Consolidated Financial Statements - unaudited**

**December 31, 2012 and December 31, 2011**

Name of Related Party from Whom Loans were Received

 

December 31, 2012

 

Relation

Tan Lung Lai

 

$

31,058

 

Director of the Company

Tengfei investment

 

$

778,843

 

Former owner of Tengda Hotel Company

Total

 

$

809,901

 

 

The loans are unsecured and bear no interest. These loans have no fixed payment terms. 

**Note 6: Operating Risk**

*Foreign currency risk*

Most of the transactions of the Company were settled in Renminbi. In the opinion of the management, the Company does not have significant foreign currency risk exposure. 

*Company’s operations are substantially in foreign countries*

Substantially all of the Company’s operations are processed in China. The Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in China. Among other risks, the Company’s operations are subject to the risks of restrictions on transfer of funds; export duties, quotas, and embargoes; domestic and international customs and tariffs; changing taxation policies; foreign exchange restrictions; and political conditions and governmental regulations.

**Note 7. Operating Lease**

Tengda Hotel leased an 8-story-building for hotel services from Zhuhai City Xiangzhou District Meihua Street Office under a lease agreement dated November 1, 2010 for a ten-year term commencing November 1, 2010 to October 31, 2020. Future minimum payments under this operating lease as of December 31, 2012 were as follows:

 

 

 

 

 

Operating

For the Twelve Months Ending December 31,

 

Leases

2013

$

102,708

2014

 

104,848

2015

 

109,127

2016

 

109,127

2017

 

111,267

Thereafter

 

327,379

Total future minimum lease payments

$

864,456

Total rental expense on the operating lease was $8,531 from beginning of lease on December 1st, 2012 to December 31, 2012.

**Note 8. Segments Reporting**

The Company operates in two segments: travel agency (which provides packaged tours, air ticketing, reservation of hotel rooms and golf courses and organize corporate conferences, exhibitions and show events for its customers and travel agency.) and hotel services.

There were no inter-segment sales for the nine months ended December 31, 2012 and 2011.

13

 

____________________________________________________________________________________________________

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment

 

 

 

Depreciation

 

 

 

 

Nine Months Ended 

 

Net

 

Loss

 

Total 

 

and 

 

Capital 

 

 

Dec. 31

 

Sales

 

pre-tax

 

Assets

 

Amortization

 

Expenditure

Hotel Services

 

2012

 

$11,250 

 

$(155)

 

$4,044

 

- 

 

- 

 

 

 

 

 

 

 

 

 

 

 

 

 

Travel Agency

 

2012

 

37,181 

 

(1,041)

 

31,758

 

- 

 

- 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

2012

 

- 

 

(224,581) 

 

811,909 

 

- 

 

- 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

$48,431

 

$(225,777)

 

$847,711

 

 

 

 

**Note 9: Related Party Transactions**

In the first quarter of 2011, the previous president of the Company acquired 500,000 shares of previously issued common shares from the former president and individuals in a private transaction, who had previously purchased such shares from the Company since September 2009. These shares, were promptly cancelled from the Company’s books and records. In the first nine months of 2011 a related party loaned the Company $11,543. On September 19, 2011 the former President and majority shareholder of the Company entered into a Stock Purchase Agreement whereby he would transfer 991,951 restricted common shares for cash, forgiveness of the $16,635 outstanding related party note payable and payment of all accounts payable as of the date of the Stock Purchase Agreement.

On February 20, 2012, the Company issued 20,000 shares of Series A Preferred Stock to Tan Lung Lai, the Company’s President, CEO and CFO, for a total price of $ 20,000, under a Series A Preferred Stock Purchase Agreement that the Company entered with Tan Lung Lai on December 15, 2011. The Series A Preferred Stock is a class of preferred stock that the Company created on November 2, 2011. One share of Series A Preferred Stock may be converted into 1,000 shares of Common Stock and the holder of each one share of Series A Preferred Stock is entitled to 1,000 votes. The 20,000 shares of Series A Preferred Stock that Tan Lung Lai purchased from the Company may be converted into 20,000,000 shares of common stock and also granted Tan Lung Lai with 20,000,000 votes of voting rights.

**Note 10:  Subsequent Events**

ASC 855-16-50-4 establishes accounting and disclosure requirements for subsequent events. ASC 855 details the period after the balance sheet date during which we should evaluate events or transactions that occur for potential recognition or disclosure in the financial statements, the circumstances under which we should recognize events or transactions occurring after the balance sheet date in our financial statements and the required disclosures for such events.  We adopted this statement effective June 15, 2009 and have evaluated all subsequent events through the date these financial statements were issued. 

14

**Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations**

Special Note Regarding Forward-Looking Statements

This periodic report contains certain forward-looking statements with respect to the Plan of Operation provided below, including information regarding the Company’s financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive positions, growth opportunities, and the plans and objectives of management. The statements made as part of the Plan of Operation that are not historical facts are hereby identified as "forward-looking statements."

**Management's Discussion and Analysis or Plan of Operation**

**Overview**

Realgold International Inc. (formerly Piranha Ventures, Inc.) (the “Company” or “Realgold”) was incorporated under the laws of the State of Arizona on November 14, 1994. On November 22, 1996, the Company reincorporated under the laws of the State of Nevada and effected a forward split of its common stock on a basis of approximately 242 shares of the Nevada corporation for each share of the Arizona corporation. The Company ceased to actively pursue its business operations relating to the publishing of interactive media software in July, 1999. On December 15, 2011, the Company filed Amended and Restated Articles of Incorporation with the Secretary of State of Nevada changing its name from Piranha Ventures, Inc. to Realgold International Inc. During December 2011, the Company established a subsidiary in Hong Kong, Realgold Venture Pte Limited (“Realgold Venture). 

On November 22, 2012, Realgold Venture entered into a Lease Management Agreement (“Lease Management Agreement”) with Zhuhai Tengfei Investment Co., Ltd. (“Tengfei Investment”), a limited liability company formed under the laws of the People’s Republic of China (“China” or “PRC”). Under the Lease Management Agreement, Tengfei Investment leased the managerial and operating rights of Zhuhai Tengda International Travel Agency Co., Ltd. (“Tengda Travel”), a wholly owned subsidiary of Tengfei Investment, to Realgold Venture. The major terms of the Lease Management Agreement are:

(1) The term of the Lease Management Agreement is 20 years (November 20, 2012 to November 19, 2032).

(2)The total lease fee is RMB 2,000,000 Yuan (approximately $320,760) (RMB 100,000 Yuan per year). 

(3)Realgold Venture is responsible for all the daily operations and management of Tengda Travel. 

(4)Realgold Venture is entitled to all the revenues of Tengda Travel.

(5)Realgold Venture is responsible for all the expenses and costs of Tengda Travel.

On November 25, 2012, Realgold Venture entered into an Ownership Transfer Agreement (“Ownership Transfer Agreement’) with Tengfei Investment. Under the Ownership Transfer Agreement, Tengfei Investment transfers to Realgold Venture 100% of the ownership of Zhuhai Tengda Business Hotel Co., Ltd. (“Tengda Hotel”) for a total transfer price of RMB 400,000 Yuan (approximately $64,191).

On November 29, 2012, the Bureau of Science and Technology Industry Trade and Information of Zhuhai City approved the ownership transfer of Tengda Hotel to Realgold Venture. As of January 02, 2012, we have filed the notice of ownership transfer with Guangdong Province Department of Foreign Trade and Economic Cooperation.

Upon the completion of the said ownership transfer, Tengda Hotel becomes the wholly owned subsidiary of Realgold Venture. 

Tengda Travel is a travel agency located in Zhuhai, Guangdong Province, China. Through Tengda Travel, we provide packaged tour, air ticketing, reservation of hotel rooms and golf courses and organize corporate conferences, exhibitions and show events for its customers. Tengda Hotel operates a hotel (Tengda Business Hotel) in Zhuhai, Guangdong Province, China. Tengda Business Hotel was opened in late 2006. Tengda Hotel is a three-star hotel with 54 guest rooms, 4 mahjong game rooms and many other amenities including fitness club, gym, business center, gift shop, meeting room , ballroom, game room, and a large parking lot.

In the nine months ended December 31, 2012, revenue from our Tengda Travel and Tengda Hotel represented 76.8% and 23.2% of our revenue, respectively. We do not have any operations other than acting as a holding entity during the nine months ended December 31, 2011.

15

**Results of Operations and Business Outlook**

Our main changes in results of operations are mainly derived from consolidation with our newly acquired subsidiaries during this quarter. Net sales for the three and nine months ended December 31, 2012 were $48,431 of which, $37,181 was generated from Tengda Travel and $11,250 was generated from Tengda Hotel. 

Cost of goods sold was $35,162 for three and nine months ended December 31, 2012. Gross profit margin in percentage for the three and nine months ended December 31, 2012 was 27.4%. Significant portions of our operating costs are from Tengda Travel, which are  fixed costs.

 

 

 

 

 

 

 

 

 

 

As of Dec. 31

 

As of Mar. 31

 

 

 

 

 

2012

 

2012

 

Change

 

Cash and cash equivalents 

$

37,810

$

581,000 

 

(93.5%)

 

Prepaid expenses and other current assets

 

-

 

22,000

 

(100.0%)

 

Shareholders receivable

 

809,901

 

- 

 

-

 

Accounts payable

 

32,210 

 

- 

 

-

 

Other payables

 

3,823 

 

-

 

-

 

Shareholders payable

 

-

 

12,442

 

(100.0%)

 

Our operating expenses increased by $20,562 to $33,004 and increased by $215,076 to $239,046 for the three and nine months ended December 31, 2012, respectively. The increase in operating expenses is mainly due to the consolidation of the financial results with Tengda Travel and Tengda Hotel after November 2012. Our operating expenses consist of general and administrative and selling expenses. 

Net loss increased by $7,293 to $19,735  for the three month period ended December 31, 2012 from $12,422 for the corresponding period in 2012, and  increased by $201,807  to $225,777  for the nine months ended December 31, 2012 from $23,970 for the same period of last fiscal year.  Among this amount, net loss of $1,197 was generated from the Tengda Travel and Tengda Hotel for the three and nine months ended December 31.  The increase in net loss is mainly due to an increase in operating expenses from our acquisition of subsidiaries, as discussed previously.

We financed our operations and expansion from cash flow from operations and contribution from our shareholders. The table below sets forth certain items on our balance sheet reflecting the changes to our financial condition as of December 31, 2012 from our financial condition as of March 31, 2012.

**LIQUIDITY AND CAPITAL RESOURCES**

Cash and cash equivalents was $37,810 as of December 31, 2012, a decrease of 93.5% from $581,000 as of March 31, 2012. The decrease was primarily due to the repayment of shareholders and advanced to related parties during the nine months ended December 31, 2012, which was partially offset by the proceeds of $446,900 from the issuance of common stock. 

Current liabilities were $36,033 as of December 31, 2012, representing an increase of 189.6% as compared to $12,442 at the beginning of the year. The increase in current liability was mainly due to the increase in accounts payable and accrued expenses from Tengda Travel and Tengda Hotel.

**Critical Accounting Policies and Estimates**

Basis of presentation

The Company’s accounting policies used in the preparation of the accompanying consolidated financial statements conform to accounting principles generally accepted in the United States of America ("US GAAP") and have been consistently applied.

Principles of combination

The accompanying consolidated financial statements include the accounts of the Company and its affiliate under common control. All significant inter-company accounts and transactions have been eliminated in combination.

Estimates

16

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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.

Revenue Recognition

The Company plans to recognize revenue when the following four conditions are present: (1) persuasive evidence of an agreement exists, (2) the price is fixed or determinable, (3) delivery has occurred or services are rendered, and (4) collection is reasonably assured.

Revenue derived from hotel services is recognized when the rooms are occupied and the services are performed. Travel agency services revenues are recognized when the travel-related service, golf package service or transportation is provided, or when the organization service of corporate conferences, exhibitions and show events is commenced. Deferred revenue consisting of deposits paid in advance is recognized as revenue when the services are performed for hotels and upon commencement of travel agency services.

Credit risk

The Company may be exposed to credit risk from its cash and fixed deposits at banks. No allowance has been made for estimated irrecoverable amounts determined by reference to past default experience and the current economic environment. 

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

**Item 3.  Quantitative and Qualitative Disclosures About Market Risk.**

N/A-Smaller Reporting Company

**Item 4.  Controls and Procedures.**

**Evaluation of Disclosure Controls and Procedures**

Our management, consisting of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures as of the end of the period covered by this report were not effective such that the information required to be disclosed by us in reports filed under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (ii) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance, however, that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. We believe our controls do provide reasonable assurances.

***We may have inadvertently violated Section 402 of the Sarbanes-Oxley and Section 13(k) of the Exchange Act and may be subject to sanctions for such violations.***

Section 13(k) of the Exchange Act provides that it is unlawful for a company such as ours, which has a class of securities registered under Section 12(g) of the Exchange Act, to directly or indirectly, including through any subsidiary, extend or maintain credit in the form of a personal loan to or for any director or executive officer of the company. Issuers violating Section 13(k) of the Exchange Act may be subject to civil sanctions, including injunctive remedies and monetary penalties, as well as criminal sanctions. The imposition of any of such sanctions on the Company may have a material adverse effect on our business, financial position, results of operations or cash flows.

On November 25, 2012, Realgold Venture entered into an Ownership Transfer Agreement with Tengfei Investment. Under the Ownership Transfer Agreement, Tengfei Investment transfers to Realgold Venture 100% of the ownership of Zhuhai Tengda Business Hotel Co., Ltd. (“Tengda Hotel”) for a total transfer price of RMB 400,000 Yuan (approximately $64,192). The director of the Company loaned RMB 400,000 Yuan to Realgold Venture for the purpose of the purchase. This loan was offset by the receivables from this director.  The loans are unsecured and bear no interest. These loans have no fixed payment terms.

17

The existence of indebtedness of the Company’s Director to the Company at the time we acquired Tengda Hotel  and the continuation of such indebtedness thereafter may constitute a violation of Section 13(k) of the Exchange Act and Section 402(a) of Sarbanes-Oxley.

 

**Management’s Report on Internal Control over Financial Reporting**

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Our internal control over financial reporting is a process designed 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.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Therefore, even those systems determined to be effective can provide only reasonable assurance of achieving their control objectives.

 

Our management, the Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our internal control over financial reporting as of December 31, 2012.  Based on this evaluation, our management concluded that, as of December 31, 2012, our disclosure controls and procedures were not effective to ensure that information required to be disclosed by us in our periodic reports is recorded, processed, summarized and reported, within the time periods specified for each report and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our financial statements are prepared by our financial and accounting staff under the direction of our Chief Financial Officer in accordance with generally accepted accounting principles in effect in the PRC; however we engage an outside consultant to convert our financial statements for presentation in accordance with generally accepted accounting principles in effect in the United States ("US GAAP"). We believe our internal controls over financial reporting in accordance with PRC GAAP are adequate for the proper supervision of the conduct of our business. Nevertheless, the need to convert our financial statements into US GAAP and the lack of familiarity of our accounting staff with US GAAP and US securities laws and regulations is a deficiency in our internal controls over financial reporting and disclosure controls and procedures. This deficiency will not be considered remediated until we hire financial and accounting personnel with the requisite knowledge and experience concerning US GAAP.

**Changes in internal control over financial reporting**

There have been no changes in internal control over financial reporting.

**PART II - OTHER INFORMATION**

**ITEM 1.  Legal Proceedings**

None

**ITEM 1A. Risk Factors**

N/A-Smaller Reporting Company

**ITEM 2.  Unregistered Sales of Equity Securities and Use of Proceeds**

*Recent Sales of Unregistered Securities*

On November 21, 2012, the Company entered into a Regulation S Stock Purchase Agreement with a group of 35 non-US individual purchasers (“Purchasers”). Under the Agreement, the Company issued a total of Forty-Four Million Six Hundred Ninety Thousand (44,690,000) shares of common stock to Purchasers for a total price of $ 446,900 ($ 0.01 per share).

On December 16, 2011, the Company entered into a Regulation S Stock Purchase Agreement with a group of 64 non-US individual purchasers (“Purchasers”). Under the Agreement, the Company will issue a total of 6,000,000 shares of common stock to Purchasers for a total price of $ 600,000 ($ 0.10 per share). The 6,000,000 shares of common stock were issued on February 20, 2012. The issuance of the 6,000,000 shares is pursuant to the exemption provided by Regulation S. None of the Purchasers is a US person and the transactions underlying the Agreement are carried out outside the US. 

18

On December 15, 2011, the Company entered into a Series A Preferred Stock Purchase Agreement with Tan Lung Lai, our President, CEO and CFO. Under the Agreement, the Company will issue 20,000 shares of Series A Preferred Stock to Tan Lung Lai for a total price of $ 20,000. Series A Preferred Stock is a class of preferred stock that the Company created on November 2, 2011. One share of Series A Preferred Stock may be converted into 1,000 shares of Common Stock. The 20,000 shares of Series A Preferred Stock that Tan Lung Lai purchases from Company may be converted into 20,000,000 shares of common stock. The holder of each one share of Series A Preferred Stock is entitled to 1,000 votes. Therefore, the 20,000 Shares of Series A Preferred Stock that Tan Lung Lai purchases from Company grant Tan Lung Lai with 20,000,000 votes of voting right. The 20,000 shares of Series A Preferred Stock were issued to Tan Lung Lai on February 20, 2012. The sale of the 20,000 shares of Series A Preferred Stock has not been registered with the SEC and was pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of 1933.

On December 30, 2010, the Company offered and sold 55,556 shares of its common stock for $0.045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.

On November 9, 2010, the Company converted its outstanding related party notes payable totaling $2,500 into 55,556 shares of Common Stock.

On June 15, 2010, the Company converted its outstanding related party notes payable totaling $5,000 into 111,111 shares of Common Stock.

On June 15, 2010, the Company offered and sold 166,667 shares of its common stock for $0.045 per share to qualified purchasers through an offer and sale in compliance with exemptions from state and federal registration requirements.

All conversions and stock sales in 2010 were to accredited investors and primarily to management. All conversions and sales related to the issuance of common stock were pursuant to Section 4(2) of the Securities Act.

**Use of Proceeds of Registered Securities**

None; not applicable.

**Purchases of Equity Securities by Us and Affiliated Purchasers**

During the nine months ended December 31, 2012, we have not purchased any equity securities.

**ITEM 3.  Defaults Upon Senior Securities**

We are not aware of any defaults upon senior securities.

**ITEM 4.   Mine Safety Disclosures**

None

**ITEM 5.  Other Information.**

None

19

**ITEM 6.  Exhibits**

a) Index of Exhibits:

Exhibit Table # Title of Document Location

3 (i)  Articles of Incorporation  Incorporated by reference*

3 (ii)  Bylaws  Incorporated by reference*

4  Specimen Stock Certificate Incorporated by reference*

31  Rule 13a-14(a)/15d-14a(a) Certification – CEO & CFO This filing

32  Section 1350 Certification – CEO & CFO This filing

* Incorporated by reference from the Company's registration statement on Form 10-SB filed with the Commission, SEC File No. 000-21909.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Realgold International, Inc.

(Registrant)

Dated: February 21, 2013

By:  /s/ Tan Lung Lai         

     Tan Lung Lai

Chief Executive Officer

Chief Financial Officer

20 |
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