2021 Q3 Form 10-Q Financial Statement

#000147793221005615 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $4.599M $3.883M $855.3K
YoY Change 128.55% 353.98%
Cost Of Revenue $2.105M $190.5K $0.00
YoY Change 392.26%
Gross Profit $2.494M $3.692M $855.3K
YoY Change 57.38% 331.72%
Gross Profit Margin 54.22% 95.09% 100.0%
Selling, General & Admin $1.039M $1.767M $272.6K
YoY Change 155.26% 548.35% 89.19%
% of Gross Profit 41.67% 47.87% 31.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.600K $3.130K
YoY Change
% of Gross Profit 0.06% 0.08%
Operating Expenses -$1.039M -$1.767M $272.6K
YoY Change 155.26% -748.35% 89.19%
Operating Profit $1.454M $1.925M $582.7K
YoY Change 23.53% 230.36%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $59.90K $115.1K $120.00
YoY Change 53.83% 95800.0%
Pretax Income $1.541M $2.040M $582.8K
YoY Change 26.72% 250.04% -504.47%
Income Tax $104.1K $198.0K $12.55K
% Of Pretax Income 6.75% 9.71% 2.15%
Net Earnings $1.410M $1.842M $570.3K
YoY Change 90.35% 223.02% -495.76%
Net Earnings / Revenue 30.67% 47.44% 66.67%
Basic Earnings Per Share
Diluted Earnings Per Share $4.617K $6.031K $5.651K
COMMON SHARES
Basic Shares Outstanding 305.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.395M $3.210M $5.550M
YoY Change -79.45% -42.15% 1353565.85%
Cash & Equivalents $1.395M $3.210M $5.550M
Short-Term Investments
Other Short-Term Assets $2.941M $1.863M $44.77K
YoY Change 1392.18% 4061.76%
Inventory
Prepaid Expenses $2.941M $1.863M
Receivables $6.680M $4.151M $444.5K
Other Receivables $3.752M $3.679M $20.69K
Total Short-Term Assets $14.77M $12.90M $6.060M
YoY Change 78.11% 112.93% 1477939.02%
LONG-TERM ASSETS
Property, Plant & Equipment $138.3K $170.4K
YoY Change -95.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.65K
YoY Change
Total Long-Term Assets $2.885M $2.822M $66.33K
YoY Change -1.17% 4154.65%
TOTAL ASSETS
Total Short-Term Assets $14.77M $12.90M $6.060M
Total Long-Term Assets $2.885M $2.822M $66.33K
Total Assets $17.65M $15.73M $6.126M
YoY Change 57.46% 156.69% 1494117.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $226.9K $184.9K
YoY Change
Accrued Expenses $172.1K $223.8K $174.6K
YoY Change -67.25% 28.17% 773.15%
Deferred Revenue
YoY Change
Short-Term Debt $140.0K $140.0K $140.0K
YoY Change 0.0% 0.0% 12.45%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.638M $2.030M $738.1K
YoY Change 76.05% 175.07% 410.77%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.087M $2.187M
YoY Change -19.15%
Total Long-Term Liabilities $2.087M $2.187M $0.00
YoY Change -19.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.638M $2.030M $738.1K
Total Long-Term Liabilities $2.087M $2.187M $0.00
Total Liabilities $4.726M $4.218M $738.1K
YoY Change 15.81% 471.44% 410.77%
SHAREHOLDERS EQUITY
Retained Earnings $6.162M $4.752M
YoY Change
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.93M $11.51M $5.388M
YoY Change
Total Liabilities & Shareholders Equity $17.65M $15.73M $6.126M
YoY Change 57.46% 156.69% 1494117.07%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $1.410M $1.842M $570.3K
YoY Change 90.35% 223.02% -495.76%
Depreciation, Depletion And Amortization $1.600K $3.130K
YoY Change
Cash From Operating Activities -$2.267M $18.82K $220.3K
YoY Change -1543.31% -91.46% 53629.27%
INVESTING ACTIVITIES
Capital Expenditures $32.15K -$170.3K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $32.15K -$170.3K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 420.6K 988.1K 141.2K
YoY Change -31.76% 599.8%
NET CHANGE
Cash From Operating Activities -2.267M 18.82K 220.3K
Cash From Investing Activities 32.15K -170.3K
Cash From Financing Activities 420.6K 988.1K 141.2K
Net Change In Cash -1.814M 836.7K 361.5K
YoY Change -334.6% 131.45% 88068.29%
FREE CASH FLOW
Cash From Operating Activities -$2.267M $18.82K $220.3K
Capital Expenditures $32.15K -$170.3K
Free Cash Flow -$2.299M $189.1K
YoY Change

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NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1</strong> –<strong> NATURE OF BUSINESS </strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Organization</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">WeTrade Group, Inc. was incorporated in the State of Wyoming on March 28, 2019 and is in the business of providing technical services and solutions via its membership-based social e-commerce platform. We are committed to providing an international cloud-based intelligence system and independently developed a micro-business cloud intelligence system called the “YCloud.” Our goal is to provide technical and auto-billing management services to micro-business online stores in China through big data analytics, machine learning mechanisms, social network recommendations, and multi-channel data analysis.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We provide technology services to both individual and corporate users. Through Yueshang Beijing, we provide “YCloud” service to our customer, Zhuozhou Weijiafu Information Technology Limited, or Weijiafu, a PRC technology company, which provide “YCloud” services to individual and corporate micro-business owners. The market individual micro-business owners represents a potential of 330 million users by the year of 2023. YCloud serves corporate users in multiple industries, including Yuetao Group, Zhiding, Lvyue, Yuebei, Yuedian, Coke GO, and Zhongyanshangyue. We conduct business operations in mainland China and have established trial operations in Hong Kong, the Philippines, and Singapore. We expect to utilize the YCloud system to establish a global strategic cooperation with various social media platforms. Plan to negotiate with Kakao Talk, Line, Whatsapp, Ohho, and Bluechat. Additionally, we have formed long-term technical collaborations with Yuetao App, Daren App, Yuebei App, Zhiding App, Yuedian App, and Lvyue App through Weijiafu.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In January 2020, we appointed a third party software company to develop an auto-billing management system (“WeTrade System”), the early stage of the YCloud system, at the cost of RMB 400,000 (or approximately USD $62,000) to provide online payment services for micro-business owners in the PRC. The main functions of the YCloud system is to manage users’ marketing relationships, CPS commission profit management, multi-channel data statistics, AI fission and management, and improved supply chain systems.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Currently, YCloud serves the micro business industry. We expect to expand the application of YCloud to tourism, hospitality, livestreaming and short video, medical beauty and traditional retail industries.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Our Business</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We believe that YCloud the first global micro-business cloud intelligent internationalization system. It conducts multi-channel data analysis through the learning of big data and social recommendation relationships. It also provides users with independent research and development of community AI fission and management systems and supply chain systems. It focuses on solving the problem of new maintenance, supply chain CPS integration output, and enrich the functional needs of users. YCloud has four main functions and competitive advantages as follows</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><span style="text-decoration:underline">Multiple integrated payment methods and payment analytics</span>: the YCloud system provides micro-business owners with multiple payment methods such as Alipay, WeChat, and UnionPay. The total order amount is directly entered into the platform to collect funds in separate accounts. Using YCloud’s technology support, the micro-business owners offer multiple channels of payments to their customers, including Alipay, WeChat, and UnionPay. Meanwhile, YCloud assigns a bar code to merchandises that purchasers can then scan to pay, allowing purchasers to make payments both online and offline. This proprietary payment technology allows our customers to reduce labor costs and error rates, thus significantly improving data analysis.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Team management</strong>: the YCloud system utilizes user marketing relationship tracking and CPS commission revenue management tools.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>AI fission and management:</strong> using intelligent robots to analyze user behavior, data sharing, purchase history, and other data, the YCloud system provides tailored recommendations and displays. For example, the YCloud system connects users’ behavior across multiple apps and platforms and makes automatic recommendations based on the analysis.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Supply chain system integration:</strong> the YCloud system applies cross-platform resource integration technology. The integration allows the multi-channel output of high-quality products creates a seamless connection between suppliers and customers. The YCloud provides a complete supply chain system integrating supply, sales, finance, and service.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The following diagram sets forth the structure of the Company as of the date of this Current Report:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><img alt="wtg_10qimg2.jpg" src="wtg_10qimg2.jpg"/></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Our business and corporate address in the United States is 1621 Central Ave, Cheyenne, WY 82001 Our telephone number is +852-67966335 and our registered agent for service of process is Wyoming Registered Agent, 1621 Central Ave, Cheyenne, WY 82001. Our fiscal year end is December 31. Our Chinese business and corporate address is No 1 Gaobei South Coast, Yi An Men 111 Block 37, Chao Yang District, Beijing City, People Republic of China, Tel. +8610-85788631. The Chinese address is where our management is located.</p>
wtg Covid19 Outbreak
Covid19Outbreak
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. The COVID-19 pandemic has negatively impacted the global economy, workforces, customers, and created significant volatility and disruption of financial markets. It has also disrupted the normal operations of many businesses, including ours. This outbreak could decrease spending, adversely affect demand for our services and harm our business and results of operations. It is not possible for us to predict the duration or magnitude of the adverse results of the outbreak and its effects on our business or results of operations at this time.</p>
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
741993 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
787140 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
519190 USD
CY2021Q2 wtg Total Lease Payments
TotalLeasePayments
3113087 USD
CY2021Q2 wtg Less Imputed Interest Present Value Discount
LessImputedInterestPresentValueDiscount
-313189 USD
CY2021Q2 wtg Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
5912985 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates.</p>
CY2021Q2 us-gaap Cash
Cash
3210464 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2574212 USD
CY2021Q2 wtg Total Operating Lease Liabilities
TotalOperatingLeaseLiabilities
2799898 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
230770 USD
wtg Cash Paid For Amounts Included In The Measurement Of Lease Liabilities For The Quarter Ended
CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiabilitiesForTheQuarterEnded
351456 USD
wtg Weighted Average Remaining Lease Term Operating Leases In Years
WeightedAverageRemainingLeaseTermOperatingLeasesInYears
P4Y2M1D
wtg Average Discount Rate Operating Leases
AverageDiscountRateOperatingLeases
0.05 pure
CY2021Q2 wtg Long Term Right Of Use Assets
LongTermRightOfUseAssets
2574212 USD
CY2021Q2 wtg Total Right Of Use Assets
TotalRightOfUseAssets
2574212 USD
CY2021Q2 wtg Short Term Operating Lease Liabilities
ShortTermOperatingLeaseLiabilities
612537 USD
CY2021Q2 wtg Long Term Operating Lease Liabilities
LongTermOperatingLeaseLiabilities
2187361 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2799898 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
365866 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
698898 USD
wtg Tax Benefit Rate
TaxBenefitRate
50%
us-gaap Net Income Loss
NetIncomeLoss
2494114 USD
us-gaap Net Income Loss
NetIncomeLoss
566233 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
305451498 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
301888665 shares
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.00
wtg Recent Accounting Pronouncements
RecentAccountingPronouncements
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS</strong> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.</p>
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3210464 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3210464 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4640603 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
57143 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-6206 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
43411 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6206 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6206 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12412 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12412 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
12381 USD
wtg Schedule Of Property And Equipment Table Textblock
ScheduleOfPropertyAndEquipmentTableTextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>June 30,</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021 </strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Computer and office equipment</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">170,428</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2021Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
170428 USD
CY2020Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
0 USD
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4151236 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2609520 USD
wtg Schedule Of Prepayments Table Textblock
ScheduleOfPrepaymentsTableTextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>June 30,</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021 </strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>December 31,</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Office furniture </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,226,007</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Block chain software and annual fee</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">621,016</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Software licenses fee and others</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;"><p style="font-size:10pt;font-family:times new roman;margin:0px">16,194</p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">61,707</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;"><p style="font-size:10pt;font-family:times new roman;margin:0px">1,863,217</p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">$</p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">61,707</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2021Q2 wtg Prepayments
Prepayments
1863217 USD
CY2020Q4 wtg Prepayments
Prepayments
61707 USD
CY2021Q2 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
3665808 USD
CY2020Q4 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
3097981 USD
CY2021Q2 us-gaap Notes Receivable Related Parties Current
NotesReceivableRelatedPartiesCurrent
4650000 USD
CY2021Q1 wtg Annual Interest Percentage
AnnualInterestPercentage
5%
CY2021Q1 wtg Maturity Date
MaturityDate
November 4, 2021
CY2021Q2 wtg Loan Receivable Principal Amount
LoanReceivablePrincipalAmount
3589156 USD
CY2020Q4 wtg Loan Receivable Principal Amount
LoanReceivablePrincipalAmount
3064336 USD
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
76652 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33645 USD
CY2021Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3665808 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3097981 USD
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
0 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3318 USD
CY2021Q2 us-gaap Deposit Assets
DepositAssets
12898 USD
CY2020Q4 us-gaap Deposit Assets
DepositAssets
2453 USD
CY2021Q2 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
12898 USD
CY2020Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
5771 USD
CY2021Q2 us-gaap Prepaid Rent
PrepaidRent
34058 USD
wtg Tenancy Period
TenancyPeriod
5 years
CY2021Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
276500 USD
CY2020Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
276500 USD
CY2021Q2 us-gaap Loans Payable Current
LoansPayableCurrent
140000 USD
CY2020Q4 us-gaap Loans Payable Current
LoansPayableCurrent
140000 USD
CY2021Q2 us-gaap Management Fee Payable
ManagementFeePayable
144000 USD
CY2020Q4 us-gaap Management Fee Payable
ManagementFeePayable
0 USD
CY2021Q2 wtg Amount Due To Related Parties
AmountDueToRelatedParties
560500 USD
CY2020Q4 wtg Amount Due To Related Parties
AmountDueToRelatedParties
416500 USD
CY2021Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
560500 USD
CY2021Q2 us-gaap Loans Payable Current
LoansPayableCurrent
140000 USD
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
223815 USD
CY2021Q2 wtg Accrued Expenses
AccruedExpenses
223815 USD
CY2020Q4 wtg Accrued Expenses
AccruedExpenses
263355 USD
CY2021Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
272210 USD
CY2020Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
828695 USD
wtg Statutory Income Tax Rates
StatutoryIncomeTaxRates
25%
wtg Vat Rate
VatRate
6%
CY2021Q2 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
176254 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
305451498 shares
CY2020 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
305451498 shares

Files In Submission

Name View Source Status
0001477932-21-005615-index-headers.html Edgar Link pending
0001477932-21-005615-index.html Edgar Link pending
0001477932-21-005615.txt Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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wtg-20210630.xsd Edgar Link pending
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