$NXTT
Next Technology Holding Inc.

2021 Form 10-K Financial Statement

#000147793222002322 Filed on April 14, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $14.38M $3.383M $6.272M
YoY Change 129.31%
Cost Of Revenue $2.682M $100.4K $615.6K
YoY Change 335.67%
Gross Profit $11.70M $3.283M $5.656M
YoY Change 106.85%
Gross Profit Margin 81.35% 97.03% 90.18%
Selling, General & Admin $5.705M $1.284M $1.901M
YoY Change 200.05% 690.71% 355.51%
% of Gross Profit 48.76% 39.12% 33.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.87K $11.70K $11.70K
YoY Change 206.58%
% of Gross Profit 0.31% 0.36% 0.21%
Operating Expenses $5.705M $1.284M $1.901M
YoY Change 200.06% 690.71% 355.51%
Operating Profit $5.994M $1.999M $3.755M
YoY Change 59.65%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $23.35K $43.90K $82.96K
YoY Change -71.85%
Pretax Income -$537.0K $2.042M -$162.3K
YoY Change 230.9% -1357.68% -61.12%
Income Tax $1.122M $674.6K $1.163M
% Of Pretax Income 33.03%
Net Earnings $5.176M $1.368M $2.675M
YoY Change 93.48% -942.31% -740.87%
Net Earnings / Revenue 35.99% 40.43% 42.65%
Basic Earnings Per Share $0.02 $0.01
Diluted Earnings Per Share $16.94K $4.497K $8.795K
COMMON SHARES
Basic Shares Outstanding 305.5M shares 304.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $616.6K $4.641M $4.641M
YoY Change -86.71% -29.59% -29.59%
Cash & Equivalents $616.6K $4.641M $4.641M
Short-Term Investments
Other Short-Term Assets $2.761M $61.71K $61.71K
YoY Change 4373.6%
Inventory
Prepaid Expenses $61.71K
Receivables $5.627M $2.610M $2.610M
Other Receivables $7.432M $2.453K $3.104M
Total Short-Term Assets $16.44M $10.42M $10.42M
YoY Change 57.81% 58.02% 58.02%
LONG-TERM ASSETS
Property, Plant & Equipment $2.724M $0.00 $2.813M
YoY Change -3.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.034M $3.127M $3.127M
YoY Change -2.97%
TOTAL ASSETS
Total Short-Term Assets $16.44M $10.42M $10.42M
Total Long-Term Assets $3.034M $3.127M $3.127M
Total Assets $19.47M $13.54M $13.54M
YoY Change 43.77% 105.47% 105.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.15K $8.176K $8.180K
YoY Change 659.78%
Accrued Expenses $813.2K $263.4K $833.2K
YoY Change -2.41% 722.98% 2503.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $140.0K $140.0K
YoY Change -100.0% -90.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.999M $2.177M $2.177M
YoY Change 37.74% 21.87% 21.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.942M $2.472M $2.472M
YoY Change -21.42%
Total Long-Term Liabilities $1.942M $2.472M $2.472M
YoY Change -21.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.999M $2.177M $2.177M
Total Long-Term Liabilities $1.942M $2.472M $2.472M
Total Liabilities $4.941M $4.649M $4.649M
YoY Change 6.29% 160.22% 160.22%
SHAREHOLDERS EQUITY
Retained Earnings $2.258M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.53M $8.894M $8.894M
YoY Change
Total Liabilities & Shareholders Equity $19.47M $13.54M $13.54M
YoY Change 43.77% 105.47% 105.47%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $5.176M $1.368M $2.675M
YoY Change 93.48% -942.31% -740.87%
Depreciation, Depletion And Amortization $35.87K $11.70K $11.70K
YoY Change 206.58%
Cash From Operating Activities -$3.753M $2.205M $1.162M
YoY Change -422.92% -1791.17% -988.03%
INVESTING ACTIVITIES
Capital Expenditures $417.1K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$417.1K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $835.5K
YoY Change -100.0% -84.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $77.82K -4.518M -$3.682M
YoY Change -102.11% -169.5% -154.78%
NET CHANGE
Cash From Operating Activities -$3.753M 2.205M $1.162M
Cash From Investing Activities -$417.1K $0.00
Cash From Financing Activities $77.82K -4.518M -$3.682M
Net Change In Cash -$4.024M -2.313M -$1.951M
YoY Change 106.3% -136.31% -129.59%
FREE CASH FLOW
Cash From Operating Activities -$3.753M $2.205M $1.162M
Capital Expenditures $417.1K $0.00
Free Cash Flow -$4.170M $1.162M
YoY Change -458.8%

Facts In Submission

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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1. 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 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;"> (Source: iResearch. http://xueqiu.com/8455183447/172404679?sharetime=2,2/22/2021). YCloud serves corporate users in multiple industries, including e-commerce business, medical beauty, healthcare products, food and beverage, tourism and etc. 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 and Changtongfu. </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 3rd party software company to develop an auto-billing management system (“YCloud System”), to provide online payment services for our customers in PRC. The main functions of YCloud System are users’ marketing relationship, CPS commission profit management, multi-channel data statistics, AI fission and management, improved supply chain system. YCloud applications cover the micro business industry, tourism industry, hospitality industry, livestreaming and short video industry, medical beauty industry and traditional retail industry.</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 and we have expanded the application of YCloud to tourism, hospitality, livestreaming and short video, medical beauty and traditional retail industries.</p>
CY2021 us-gaap Use Of Estimates
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<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 amounts reported in the consolidated financial statements and accompanying notes. Management believes that the estimates used in preparing the financial statements are reasonable and prudent; however, actual results could differ from these estimates. Significant estimates include the allowance for doubtful accounts, useful lives of intangible asset, valuation of deferred tax assets, and certain accrued liabilities such as contingent liabilities.</p>
CY2021 us-gaap Concentration Risk Credit Risk
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of accounts receivable. The Company does not require collateral for accounts receivables. The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses. The Company records the allowance against bad debt expense through the consolidated statements of operations, included in general and administrative expense, up to the amount of revenues recognized to date. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success. As of December 31, 2021 and 2020, account receivables from third parties are amounted to $5,627,463 (2020: $2,609,520) and account receivables from related parties are amounted to $3,603,402 (2020: $nil).</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;">As of December 31, 2021, the total account receivables from two main customers are amounted to $9,230,865, which consists of amount due from third party customer of $5,627,463 and amount due from related party customer of $3,603,402.</p>
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AccountsReceivableRelatedParties
3603402 USD
CY2021Q4 wtg Long Term Right Of Use Assets
LongTermRightOfUseAssets
2328950 USD
CY2020Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
63000 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
3516627 USD
CY2021 wtg Finite Lived Intangible Asset Useful Life One
FiniteLivedIntangibleAssetUsefulLifeOne
P3Y
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
694533 USD
CY2021 wtg Cash Paid For Amounts Included In The Measurement Of Lease Liabilities For The Quarter Ended9302020
CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiabilitiesForTheQuarterEnded9302020
719272 USD
CY2021 wtg Weighted Average Remaining Lease Term Operating Leases In Years
WeightedAverageRemainingLeaseTermOperatingLeasesInYears
P3Y8M1D
CY2021 wtg Average Discount Rate Operating Leases
AverageDiscountRateOperatingLeases
0.05 pure
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2538340 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
709336 USD
CY2021Q4 wtg Total Right Of Use Assets
TotalRightOfUseAssets
2328950 USD
CY2021Q4 wtg Short Term Operating Lease Liabilities
ShortTermOperatingLeaseLiabilities
596098 USD
CY2021Q4 wtg Long Term Operating Lease Liabilities
LongTermOperatingLeaseLiabilities
1942242 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
753074 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
798895 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
526944 USD
CY2021Q4 wtg Total Lease Payments
TotalLeasePayments
2788249 USD
CY2021Q4 wtg Less Imputed Interest Present Value Discount
LessImputedInterestPresentValueDiscount
-249909 USD
CY2021Q4 wtg Present Value Of Lease Liabilities
PresentValueOfLeaseLiabilities
2538340 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.50 pure
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
305451498 shares
CY2020 us-gaap Net Income Loss
NetIncomeLoss
2675037 USD
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
304166073 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2021 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"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px">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>
CY2020 us-gaap Gross Transaction Volume
GrossTransactionVolume
163476364 USD
CY2021 wtg Revenues From Ycloud Service
RevenuesFromYcloudService
14381295 USD
CY2020 wtg Revenues From Ycloud Service
RevenuesFromYcloudService
6271564 USD
CY2021 wtg Service Revenue Non Related Party
ServiceRevenueNonRelatedParty
9734966 USD
CY2021 wtg System Services Fees From Related Party Description
SystemServicesFeesFromRelatedPartyDescription
We receive 2%-3.5% of the total Gross Merchandise Volume generated in the platform as a system service fee from YCloud users through service agreement with our customers (such as Weijiafu and Changtongfu), depending on the type of service and industry.
CY2021 wtg Gross Transaction Volume Non Related Party
GrossTransactionVolumeNonRelatedParty
292177817 USD
CY2020 wtg Gross Transaction Volume Non Related Party
GrossTransactionVolumeNonRelatedParty
10437687 USD
CY2021 wtg Gross Transaction Volume Related Party
GrossTransactionVolumeRelatedParty
139359179 USD
CY2020 wtg Gross Transaction Volume Related Party
GrossTransactionVolumeRelatedParty
153038677 USD
CY2021 us-gaap Gross Transaction Volume
GrossTransactionVolume
431536996 USD
CY2020 wtg Service Revenue Non Related Party
ServiceRevenueNonRelatedParty
3440312 USD
CY2021 wtg Service Revenue Related Party
ServiceRevenueRelatedParty
4646329 USD
CY2020 wtg Service Revenue Related Party
ServiceRevenueRelatedParty
2831252 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
616593 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
616593 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4640603 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
57143 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-25176 USD
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12519 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
25176 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12588 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
418706 USD
CY2021Q4 wtg Property And Equipment Accumulated Depreciation
PropertyAndEquipmentAccumulatedDepreciation
-23353 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
395353 USD
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
23353 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3318 USD
CY2020Q4 wtg Total Accounts Receivable
TotalAccountsReceivable
1 pure
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9230865 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2609520 USD
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
9230865 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2609520 USD
CY2021Q4 wtg Total Accounts Receivable
TotalAccountsReceivable
1 pure
CY2021 us-gaap Premiums Receivable Note
PremiumsReceivableNote
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 9 – NOTE RECEIVABLES</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;">As of December 31, 2021 and 2020, Note receivables consists of the following: </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><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>December 31,</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;">Note receivables</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;">3,798,130</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%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">3,097,981</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><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;">Note receivable is related to the short-term loan of $3,798,130 (approximately of RMB 24 million) to a third party with annual interest of 5%, which will be matured on November 4, 2022. As at December 31, 2021 the accrued interest for the loan is $167,626. </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 accrued interest and principal amount of the loan for the year ended December 31, 2021 and December 31, 2020 are as follow:</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><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>December 31,</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;">Principal</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;">3,630,504</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%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,064,336</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Accrued interest</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">167,626</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">33,645</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">3,798,130</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%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">3,097,981</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>
CY2021Q4 us-gaap Notes Receivable Related Parties Current
NotesReceivableRelatedPartiesCurrent
3798130 USD
CY2021 wtg Annual Interest Percentage
AnnualInterestPercentage
0.05 pure
CY2021 wtg Maturity Date
MaturityDate
November 4, 2022
CY2021Q4 wtg Accrued Interest For The Loan
AccruedInterestForTheLoan
167626 USD
CY2021Q4 wtg Loan Receivable Principal Amount
LoanReceivablePrincipalAmount
3630504 USD
CY2020Q4 wtg Loan Receivable Principal Amount
LoanReceivablePrincipalAmount
3064336 USD
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
167626 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33645 USD
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3798130 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3097981 USD
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
0 USD
CY2021Q4 us-gaap Deposit Assets
DepositAssets
19302 USD
CY2020Q4 us-gaap Deposit Assets
DepositAssets
0 USD
CY2021Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
10845 USD
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2453 USD
CY2021Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
30147 USD
CY2020Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
5771 USD
CY2021 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>December 31,</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 and renovation </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;">1,895,591</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%;vertical-align:bottom;white-space: nowrap;">$</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;">Office Rental</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;">173,611</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;">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;">630,291</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;">Software licenses 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="BORDER-BOTTOM: black 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: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">61,165</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: black 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: black 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:#cceeff"><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="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%;"><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 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%;"><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></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%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">2,760,658</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%;vertical-align:bottom;white-space: nowrap;">$</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>
CY2021Q4 wtg Prepayments One
PrepaymentsOne
2760658 USD
CY2020Q4 wtg Prepayments One
PrepaymentsOne
61707 USD
CY2021Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
272063 USD
CY2020Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
264910 USD
CY2021 wtg Tenancy Period
TenancyPeriod
5 years
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
54436 USD
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
0 USD
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
54436 USD
CY2020Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
0 USD
CY2021Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
745532 USD
CY2020Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
276501 USD
CY2021Q4 us-gaap Loans Payable Current
LoansPayableCurrent
0 USD
CY2020Q4 us-gaap Loans Payable Current
LoansPayableCurrent
140000 USD
CY2021Q4 us-gaap Management Fee Payable
ManagementFeePayable
360000 USD
CY2020Q4 us-gaap Management Fee Payable
ManagementFeePayable
0 USD
CY2021Q4 wtg Amount Due To Related Parties
AmountDueToRelatedParties
1105532 USD
CY2020Q4 wtg Amount Due To Related Parties
AmountDueToRelatedParties
416501 USD
CY2021Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
745532 USD
CY2020Q4 us-gaap Loans Payable Current
LoansPayableCurrent
140000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
217073 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
711841 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
828695 USD
CY2021 wtg Vat Urban Construction Tax And Levies
VatUrbanConstructionTaxAndLevies
62129 USD
CY2020 wtg Vat Urban Construction Tax And Levies
VatUrbanConstructionTaxAndLevies
119498 USD
CY2021Q4 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
306270 USD
CY2021Q4 wtg Security Account Set Up Fee Staff
SecurityAccountSetUpFeeStaff
306270 USD
CY2020Q4 wtg Security Account Set Up Fee Staff
SecurityAccountSetUpFeeStaff
90632 USD
CY2021Q4 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
306270 USD
CY2020Q4 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
90632 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1122283 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1162556 USD
CY2021 us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
711841 USD
CY2020 us-gaap Payments For Other Taxes
PaymentsForOtherTaxes
828695 USD
CY2021 wtg Value Added Tax Percentage
ValueAddedTaxPercentage
0.06 pure
CY2021 wtg Corporate Income Tax
CorporateIncomeTax
649032 USD
CY2020 wtg Corporate Income Tax
CorporateIncomeTax
709197 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-537024 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
3837593 USD
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
6297958 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-162293 USD
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1122283 USD
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1162556 USD
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1122283 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1162556 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD

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