10-K Filing

WENYUAN GROUP CORP. CIK: 723533 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001017386-23-000130`
Period End Date	20221231
Filing Date	20230329
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	lwlw_2022dec31-10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 41 Cash Flow Statement 55 Stockholders Equity 15

Balance Sheet 51 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
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.12K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	550.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	550.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$58.41K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	65.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	74.11M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$126.53K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	65.13M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$274.37K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	74.11M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$3.62K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.13K	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$405.66K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableCurrent`	$1.30K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableCurrent`	$31.96K	USD	Point-in-time
Shareholder loan	`LoansPayableCurrent`	$90.49K	USD	Point-in-time
Shareholder loan	`LoansPayableCurrent`	-	USD	Point-in-time
Commercial loans	`LoansPayableToBankCurrent`	$12.25K	USD	Point-in-time
Commercial loans	`LoansPayableToBankCurrent`	$12.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$134.71K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.55K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$134.71K	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, 74,108,926 and 65,127,061 shares issued and outstanding as of December 31, 2022 and 2021, respectively	`CommonStockValue`	$6.51K	USD	Point-in-time
Common stock, $0.0001 par value, 550,000,000 authorized, 74,108,926 and 65,127,061 shares issued and outstanding as of December 31, 2022 and 2021, respectively	`CommonStockValue`	$7.41K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.28M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.84K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	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`	$270.95K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$405.66K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Consulting service income	`ConsultingServiceIncome`	-	USD	Annual
Consulting service income	`ConsultingServiceIncome`	$36.42K	USD	Annual
Online product sales	`OnlineProductSales`	$1.79K	USD	Annual
Online product sales	`OnlineProductSales`	-	USD	Annual
Aquaculture product sales, net	`AquacultureProductSalesNet`	-	USD	Annual
Aquaculture product sales, net	`AquacultureProductSalesNet`	$2.93K	USD	Annual
Total net revenues	`Revenues`	-	USD	Annual
Total net revenues	`Revenues`	$41.14K	USD	Annual
Professional expenses	`ProfessionalAndContractServicesExpense`	-	USD	Annual
Professional expenses	`ProfessionalAndContractServicesExpense`	$106.48K	USD	Annual
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$500.00K	USD	Point-in-time
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	-	USD	Annual
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$425.00K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$255.69K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.50K	USD	Annual
Total operating expenses	`OperatingExpenses`	$6.50K	USD	Annual
Total operating expenses	`OperatingExpenses`	$787.17K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-6.50K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-746.04K	USD	Annual
Interest expenses	`InterestExpense1`	$-500.00	USD	Annual
Interest expenses	`InterestExpense1`	$-500.00	USD	Annual
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	-	USD	Annual
Loss on debt settlement	`DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1`	$-15.59M	USD	Annual
Other income, net	`OtherIncome`	$110.00	USD	Annual
Other income, net	`OtherIncome`	-	USD	Annual
Total other expenses, net	`OtherNoncashIncomeExpense`	$-15.59M	USD	Annual
Total other expenses, net	`OtherNoncashIncomeExpense`	$-390.00	USD	Annual
Loss before income tax	`OperatingIncomeLoss`	$-15.60M	USD	Annual
Loss before income tax	`OperatingIncomeLoss`	$-746.43K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-15.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-746.43K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$5.84K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.60M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-740.59K	USD	Annual
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	67.22M	shares	Annual
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	33.12M	shares	Annual
Loss per share: Basic and diluted	`EarningsPerShareBasic`	$-0.47	USD	Annual
Loss per share: Basic and diluted	`EarningsPerShareBasic`	$-0.01	USD	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-746.43K	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Depreciation	`Depreciation`	$4.43K	USD	Annual
Loss on debt settlement by issuance of common stock	`DebtConversionConvertedToStockAmount1`	$15.59M	USD	Annual
Loss on debt settlement by issuance of common stock	`DebtConversionConvertedToStockAmount1`	-	USD	Annual
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$500.00K	USD	Point-in-time
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	-	USD	Annual
Share-based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$425.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$56.24K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableTrade`	$31.05K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableTrade`	$7.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-342.19K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	-	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$7.53K	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$3.52K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.05K	USD	Annual
Proceeds from commercial loans	`ProceedsFromLoans`	-	USD	Annual
Proceeds from commercial loans	`ProceedsFromLoans`	$287.88K	USD	Annual
Repayments of commercial loans	`RepaymentsOfFederalHomeLoanBankBorrowings`	$287.88K	USD	Annual
Repayments of commercial loans	`RepaymentsOfFederalHomeLoanBankBorrowings`	-	USD	Annual
Proceeds from a shareholder	`ProceedsFromContributedCapital`	$91.78K	USD	Annual
Proceeds from a shareholder	`ProceedsFromContributedCapital`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$334.91K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$426.70K	USD	Annual
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Annual
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-5.34K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$68.12K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	-	USD	Annual
Cash and cash equivalents, beginning balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, beginning balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.12K	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, ending balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.12K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Income tax paid	`IncomeTaxesPaid`	-	USD	Annual
Acquisition Hangzhou Longwen Management by obtaining shareholder loan	`AcquisitionCosts`	$141.00	USD	Point-in-time
Acquisition Hangzhou Longwen Management by obtaining shareholder loan	`AcquisitionCosts`	$993.00	USD	Annual
Acquisition Hangzhou Longwen Management by obtaining shareholder loan	`AcquisitionCosts`	1,000.00	CNY	Point-in-time
Acquisition Hangzhou Longwen Management by obtaining shareholder loan	`AcquisitionCosts`	-	USD	Annual
Acquisition of Yushu by other payable	`LiabilitiesAssumed1`	-	USD	Annual
Acquisition of Yushu by other payable	`LiabilitiesAssumed1`	$141.00	USD	Annual
Common stock issued for debt settlement	`NotesReduction`	-	USD	Annual
Common stock issued for debt settlement	`NotesReduction`	$15.60M	USD	Annual
Common stock issued for property acquisition	`StockIssued1`	-	USD	Annual
Common stock issued for property acquisition	`StockIssued1`	$265.18K	USD	Annual

Stockholders Equity 15 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`	$270.95K	USD	Point-in-time
Common shares issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$334.91K	USD	Annual
Common shares issued for property acquisition	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$265.18K	USD	3 Qtrs
Common shares issued for property acquisition	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$265.18K	USD	Annual
Common shares issued for property acquisition, shares	`StockIssuedDuringPeriodSharesPurchaseOfAssets`	2.65M	shares	3 Qtrs
Common shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$425.00K	USD	Annual
Common stock issued for debt settlement	`StockIssuedDuringPeriodValueConversionOfUnits`	$15.60M	USD	Annual
Net loss	`ProfitLoss`	$-15.60M	USD	Annual
Net loss	`ProfitLoss`	$-746.43K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$5.84K	USD	Annual
Ending balance, value	`StockholdersEquity`	$-13.55K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-13.05K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$270.95K	USD	Point-in-time

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