10-Q Filing

WENYUAN GROUP CORP. CIK: 723533 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001017386-22-000474`
Period End Date	20220930
Filing Date	20221103
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	lwlw_2022sept30-10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 64 Cash Flow Statement 51 Stockholders Equity 27

Balance Sheet 52 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$272.10K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Prepaid expenses and others	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses and others	`PrepaidExpenseCurrent`	$83.07K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	65.13M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	69.29M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$355.17K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	65.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	69.29M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$269.03K	USD	Point-in-time
Goodwill	`Goodwill`	$993.00	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$625.19K	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Commercial loans	`LoansPayableCurrent`	$209.06K	USD	Point-in-time
Commercial loans	`LoansPayableCurrent`	$12.25K	USD	Point-in-time
Shareholder loans	`DueToRelatedPartiesCurrent`	$80.88K	USD	Point-in-time
Shareholder loans	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.30K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$1.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$291.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.55K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$291.62K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$13.55K	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, 69,290,927 and 65,127,061 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$6.51K	USD	Point-in-time
Common stock, $0.0001 par value, 550,000,000 authorized, 69,290,927 and 65,127,061 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$6.93K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.28M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$157.00	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$18.81K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-13.55K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-13.43K	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`	$333.57K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$625.19K	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`	$11.33K	USD	1 Quarter
Consulting service income	`Revenues`	$19.31K	USD	3 Qtrs
Consulting service income	`Revenues`	-	USD	1 Quarter
Consulting service income	`Revenues`	-	USD	3 Qtrs
Professional expenses	`ProfessionalAndContractServicesExpense`	$30.01K	USD	1 Quarter
Professional expenses	`ProfessionalAndContractServicesExpense`	-	USD	1 Quarter
Professional expenses	`ProfessionalAndContractServicesExpense`	$111.35K	USD	3 Qtrs
Professional expenses	`ProfessionalAndContractServicesExpense`	$3.75K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$104.18K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.75K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$21.38K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$215.53K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$51.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.50K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-196.22K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-40.06K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	-	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-6.50K	USD	3 Qtrs
Interest expense	`InterestExpense1`	$-125.00	USD	1 Quarter
Interest expense	`InterestExpense1`	$-124.00	USD	1 Quarter
Interest expense	`InterestExpense1`	$-375.00	USD	3 Qtrs
Interest expense	`InterestExpense1`	$-375.00	USD	3 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	3 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	$-15.59M	USD	3 Qtrs
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	1 Quarter
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	1 Quarter
Other Income	`OtherIncome`	$-111.00	USD	1 Quarter
Other Income	`OtherIncome`	$-28.00	USD	3 Qtrs
Other Income	`OtherIncome`	$-111.00	USD	1 Quarter
Other Income	`OtherIncome`	$-28.00	USD	3 Qtrs
Total other expense, net	`OtherNoncashIncomeExpense`	$-347.00	USD	3 Qtrs
Total other expense, net	`OtherNoncashIncomeExpense`	$-235.00	USD	1 Quarter
Total other expense, net	`OtherNoncashIncomeExpense`	$-125.00	USD	1 Quarter
Total other expense, net	`OtherNoncashIncomeExpense`	$-15.59M	USD	3 Qtrs
Net loss before income tax	`OperatingIncomeLoss`	$-196.57K	USD	3 Qtrs
Net loss before income tax	`OperatingIncomeLoss`	$-40.30K	USD	1 Quarter
Net loss before income tax	`OperatingIncomeLoss`	$-125.00	USD	1 Quarter
Net loss before income tax	`OperatingIncomeLoss`	$-15.60M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-196.57K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-125.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.60M	USD	3 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	3 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$157.00	USD	3 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$2.25K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.60M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-125.00	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-38.04K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-196.41K	USD	3 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	65.94M	shares	1 Quarter
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	65.61M	shares	3 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	22.75M	shares	3 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	65.13M	shares	1 Quarter
Loss per share: Basic and diluted	`EarningsPerShareBasic`	-	USD	3 Qtrs
Loss per share: Basic and diluted	`EarningsPerShareBasic`	$-0.69	USD	3 Qtrs
Loss per share: Basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter
Loss per share: Basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-196.57K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-125.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-40.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-15.60M	USD	3 Qtrs
Depreciation	`Depreciation`	-	USD	3 Qtrs
Depreciation	`Depreciation`	$1.33K	USD	3 Qtrs
Loss on debt settlement by issuance of common stock	`DebtConversionConvertedToStockAmount1`	$15.59M	USD	3 Qtrs
Loss on debt settlement by issuance of common stock	`DebtConversionConvertedToStockAmount1`	-	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$81.28K	USD	3 Qtrs
Accrued interest and other payable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-375.00	USD	3 Qtrs
Accrued interest and other payable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-6.88K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-276.14K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquireProductiveAssets`	$7.75K	USD	3 Qtrs
Purchase of equipment	`PaymentsToAcquireProductiveAssets`	-	USD	3 Qtrs
Cash obtained from business acquisition	`CashAcquiredFromAcquisition`	-	USD	3 Qtrs
Cash obtained from business acquisition	`CashAcquiredFromAcquisition`	$7.00	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.75K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from shareholder loans	`ProceedsFromContributedCapital`	$86.74K	USD	3 Qtrs
Proceeds from shareholder loans	`ProceedsFromContributedCapital`	-	USD	3 Qtrs
Proceeds from commercial loans	`ProceedsFromLoans`	-	USD	3 Qtrs
Proceeds from commercial loans	`ProceedsFromLoans`	$287.88K	USD	3 Qtrs
Repayment of commercial loan	`RepaymentsOfFederalHomeLoanBankBorrowings`	$75.76K	USD	3 Qtrs
Proceeds from share issuance	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from share issuance	`ProceedsFromIssuanceOfCommonStock`	$278.36K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$577.22K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-21.23K	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$272.10K	USD	3 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`	$272.10K	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`	$272.10K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Income tax paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income tax paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Acquisition of Hangzhou Longwen Enterprise Management with shareholder loan	`AcquisitionCosts`	-	USD	3 Qtrs
Acquisition of Hangzhou Longwen Enterprise Management with shareholder loan	`AcquisitionCosts`	$993.00	USD	3 Qtrs
Acquisition of property by issuance of common stocks	`StockIssued1`	$265.18K	USD	3 Qtrs
Acquisition of property by issuance of common stocks	`StockIssued1`	-	USD	3 Qtrs
Common stock issued for debt settlement	`NotesReduction`	$15.60M	USD	3 Qtrs
Common stock issued for debt settlement	`NotesReduction`	-	USD	3 Qtrs

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$18.81K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-13.55K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-13.43K	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`	$333.57K	USD	Point-in-time
Issuance of common stock for debt settlement	`StockIssuedDuringPeriodValueConversionOfUnits`	$15.60M	USD	3 Qtrs
Issuance of common stock for debt settlemen, shares	`StockIssuedDuringPeriodSharesConversionOfUnits`	65.00M	shares	3 Qtrs
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$116.09K	USD	3 Qtrs
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues1`	$74.64K	USD	3 Qtrs
Issuance of common stock for cash	`StockIssuedDuringPeriodValueOther`	$87.63K	USD	1 Quarter
Issuance of common stock for cash	`StockIssuedDuringPeriodValueOther`	$87.63K	USD	3 Qtrs
Issuance of common stock for property	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$265.18K	USD	1 Quarter
Issuance of common stock for property	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$265.18K	USD	3 Qtrs
Issuance of common stock for property, shares	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	2.65M	shares	3 Qtrs
Other comprehensive income	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-2.25K	USD	1 Quarter
Other comprehensive income	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$157.00	USD	3 Qtrs
Net loss	`ProfitLoss`	$-15.60M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-40.30K	USD	1 Quarter
Net loss	`ProfitLoss`	$-196.57K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-125.00	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$18.81K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-13.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-13.43K	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`	$333.57K	USD	Point-in-time

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