10-Q Filing

WENYUAN GROUP CORP. CIK: 723533 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001017386-22-000352`
Period End Date	20220630
Filing Date	20220812
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	lwlw_2022jun30-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 64 Cash Flow Statement 47 Stockholders Equity 13

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.92K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	550.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	550.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$93.86K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	65.76M	shares	Point-in-time
Total current assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	65.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$102.78K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$6.92K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	65.13M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	65.76M	shares	Point-in-time
Goodwill	`Goodwill`	$993.00	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$110.69K	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Commercial loan	`LoansPayableCurrent`	$12.25K	USD	Point-in-time
Commercial loan	`LoansPayableCurrent`	$12.25K	USD	Point-in-time
Commercial loan	`LoansPayableCurrent`	$12.25K	USD	Point-in-time
Shareholder loans	`DueToRelatedPartiesCurrent`	$78.09K	USD	Point-in-time
Shareholder loans	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.30K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.55K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$13.55K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$91.89K	USD	Point-in-time
Preferred stock, $0.0001 par value, 50,000,000 authorized, nil shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 50,000,000 authorized, nil shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 550,000,000 authorized, 65,762,808 and 65,127,061 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$6.58K	USD	Point-in-time
Common stock, $0.0001 par value, 550,000,000 authorized, 65,762,808 and 65,127,061 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$6.51K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.44M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.10K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-13.55K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-13.05K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-13.30K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$18.81K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$110.69K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Consulting service income	`Revenues`	$7.98K	USD	2 Qtrs
Consulting service income	`Revenues`	-	USD	1 Quarter
Consulting service income	`Revenues`	-	USD	2 Qtrs
Consulting service income	`Revenues`	$6.81K	USD	1 Quarter
Professional expenses	`ProfessionalAndContractServicesExpense`	$3.75K	USD	2 Qtrs
Professional expenses	`ProfessionalAndContractServicesExpense`	$46.55K	USD	1 Quarter
Professional expenses	`ProfessionalAndContractServicesExpense`	$81.33K	USD	2 Qtrs
Professional expenses	`ProfessionalAndContractServicesExpense`	$3.75K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.75K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$82.80K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$73.06K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.75K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$-164.14K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$-6.50K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$-119.62K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$-6.50K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-156.16K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-6.50K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-112.81K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-6.50K	USD	2 Qtrs
Interest expense	`InterestExpense1`	$-250.00	USD	2 Qtrs
Interest expense	`InterestExpense1`	$-125.00	USD	1 Quarter
Interest expense	`InterestExpense1`	$-203.00	USD	1 Quarter
Interest expense	`InterestExpense1`	$-328.00	USD	2 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	1 Quarter
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	2 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	$-15.59M	USD	2 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	$-15.59M	USD	1 Quarter
Total other expense, net	`OtherNoncashIncomeExpense`	$-211.00	USD	1 Quarter
Total other expense, net	`OtherNoncashIncomeExpense`	$-112.00	USD	2 Qtrs
Total other expense, net	`OtherNoncashIncomeExpense`	$-15.59M	USD	1 Quarter
Total other expense, net	`OtherNoncashIncomeExpense`	$-15.59M	USD	2 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-156.27K	USD	2 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-113.02K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-15.60M	USD	2 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-15.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-156.27K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-15.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.60M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-113.02K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-2.10K	USD	2 Qtrs
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-2.58K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	2 Qtrs
Total other comprehensive loss	`TotalOtherComprehensiveIncome`	-	USD	2 Qtrs
Total other comprehensive loss	`TotalOtherComprehensiveIncome`	$-2.10K	USD	2 Qtrs
Total other comprehensive loss	`TotalOtherComprehensiveIncome`	$-2.58K	USD	1 Quarter
Total other comprehensive loss	`TotalOtherComprehensiveIncome`	-	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.60M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-115.60K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-158.37K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.60M	USD	2 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	65.44M	shares	2 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	1.21M	shares	2 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	65.70M	shares	1 Quarter
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	2.27M	shares	1 Quarter
Earnings per share: Basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter
Earnings per share: Basic and diluted	`EarningsPerShareBasic`	$-12.89	USD	2 Qtrs
Earnings per share: Basic and diluted	`EarningsPerShareBasic`	-	USD	2 Qtrs
Earnings per share: Basic and diluted	`EarningsPerShareBasic`	$-6.87	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-156.27K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-15.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.60M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-113.02K	USD	1 Quarter
Depreciation	`Depreciation`	$730.00	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Depreciation	`Depreciation`	$572.00	USD	1 Quarter
Share issuances for debt settlement	`DebtConversionConvertedInstrumentAmount1`	-	USD	2 Qtrs
Share issuances for debt settlement	`DebtConversionConvertedInstrumentAmount1`	$15.60M	USD	2 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-93.86K	USD	2 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$250.00	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$250.00	USD	2 Qtrs
Due to a shareholder	`IncreaseDecreaseInDueToRelatedParties`	-	USD	2 Qtrs
Due to a shareholder	`IncreaseDecreaseInDueToRelatedParties`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.15K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireProductiveAssets`	-	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireProductiveAssets`	$7.96K	USD	2 Qtrs
Cash obtained from business acquisition	`AssetAcquisitionConsiderationTransferred`	$7.00	USD	2 Qtrs
Cash obtained from business acquisition	`AssetAcquisitionConsiderationTransferred`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.95K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from shareholder loans	`ProceedsFromContributedCapital`	$82.11K	USD	2 Qtrs
Proceeds from shareholder loans	`ProceedsFromContributedCapital`	-	USD	2 Qtrs
Proceeds from share issuance	`ProceedsFromIssuanceOfCommonStock`	$190.72K	USD	2 Qtrs
Proceeds from share issuance	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$272.83K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-6.82K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$8.92K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	2 Qtrs
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	$8.92K	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	$8.92K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income tax paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income tax paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Acquisition of Hangzhou Longwen Enterprise Management with shareholder loan	`AcquisitionCosts`	$993.00	USD	2 Qtrs
Acquisition of Hangzhou Longwen Enterprise Management with shareholder loan	`AcquisitionCosts`	-	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-13.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-13.05K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-13.30K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$18.81K	USD	Point-in-time
Issuance of common stock for debt settlement	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$15.60M	USD	2 Qtrs
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$190.72K	USD	2 Qtrs
Other comprehensive loss	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-2.10K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-15.60M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-156.27K	USD	2 Qtrs
Ending balance, value	`StockholdersEquity`	$-13.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-13.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-13.30K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$18.81K	USD	Point-in-time

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