Longwen (LWLW) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 11, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-11596
Entity Registrant Name	LONGWEN GROUP CORP.
Entity Central Index Key	0000723533
Entity Tax Identification Number	95-3506403
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	No. 25
Entity Address, Address Line Two	Caihe Rd
Entity Address, Address Line Three	Shangcheng Dist.
Entity Address, City or Town	Hangzhou
Entity Address, Country	CN
Entity Address, Postal Zip Code	310000
City Area Code	+86 0571 -87099979
Local Phone Number	87099979
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		65,762,808

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 8,917
Prepaid expenses	93,859
Total current assets	102,776
Equipment, net	6,924
Goodwill	993
TOTAL ASSETS	110,693
Current Liabilities:
Commercial loan	12,250	12,250
Shareholder loans	78,086
Accrued interest	1,550	1,300
Total current liabilities	91,886	13,550
TOTAL LIABILITIES	91,886	13,550
STOCKHOLDERS’ DEFICIT
Preferred stock, $0.0001 par value, 50,000,000 authorized, nil shares issued and outstanding
Common stock, $0.0001 par value, 550,000,000 authorized, 65,762,808 and 65,127,061 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	6,577	6,513
Additional paid-in capital	18,452,007	18,261,346
Accumulated deficit	(18,437,679)	(18,281,409)
Accumulated other comprehensive loss	(2,098)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)	18,807	(13,550)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$ 110,693

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	550,000,000	550,000,000
Common Stock, Shares, Issued	65,762,808	65,127,061
Common Stock, Shares, Outstanding	65,762,808	65,127,061

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Consulting service income	$ 6,808		$ 7,979
Operating Expenses
Professional expenses	46,555	3,750	81,335	3,750
Selling, general and administrative expenses	73,062	2,750	82,802	2,750
Total operating expenses	(119,617)	(6,500)	(164,137)	(6,500)
Loss from operations	(112,809)	(6,500)	(156,158)	(6,500)
Other income (expenses):
Interest expense	(203)	(125)	(328)	(250)
Loss on debt settlement		(15,593,500)		(15,593,500)
Total other expense, net	(211)	(15,593,625)	(112)	(15,593,750)
Net loss before income tax	(113,020)	(15,600,125)	(156,270)	(15,600,250)
Income tax expense
Net loss	(113,020)	(15,600,125)	(156,270)	(15,600,250)
Other comprehensive loss
Foreign currency translation loss	(2,580)		(2,098)
Total other comprehensive loss	(2,580)		(2,098)
Comprehensive loss	$ (115,600)	$ (15,600,125)	$ (158,368)	$ (15,600,250)
Weighted average shares outstanding: Basic and diluted	65,704,692	2,269,918	65,438,590	1,210,394
Earnings per share: Basic and diluted	$ 0	$ (6.87)	$ 0	$ (12.89)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (156,270)	$ (15,600,250)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	730
Share issuances for debt settlement		15,600,000
Changes in operating assets and liabilities:
Prepaid expense	(93,859)
Accrued interest	250	250
Due to a shareholder
Net cash used in operating activities	(249,149)
Cash flows from investing activities:
Purchase of equipment	(7,957)
Cash obtained from business acquisition	7
Net cash used in investing activities	(7,950)
Cash flows from financing activities:
Proceeds from shareholder loans	82,107
Proceeds from share issuance	190,725
Net cash provided by financing activities	272,832
Effect of exchange rate changes on cash and cash equivalents	(6,816)
Net increase in cash and cash equivalents	8,917
Cash and cash equivalents, beginning balance
Cash and cash equivalents, ending balance	8,917
Supplemental Disclosures:
Interest paid
Income tax paid
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Acquisition of Hangzhou Longwen Enterprise Management with shareholder loan	$ 993

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2020		$ 13	$ 2,667,846	$ (2,680,909)		$ (13,050)
Shares, Issued at Dec. 31, 2020		127,061
Issuance of common stock for debt settlement		$ 6,500	15,593,500			15,600,000
Issuance of common stock for debt settlement		65,000,000
Net loss				(15,600,250)		(15,600,250)
Ending balance, value at Jun. 30, 2021		$ 6,513	18,261,346	(18,281,159)		(13,300)
Shares, Issued at Jun. 30, 2021		65,127,061
Beginning balance, value at Dec. 31, 2021		$ 6,513	18,261,346	(18,281,409)		(13,550)
Shares, Issued at Dec. 31, 2021		65,127,061
Issuance of common stock		$ 64	190,661			190,725
Issuance of common stock, shares		635,747
Other comprehensive loss					(2,098)	(2,098)
Net loss				(156,270)		(156,270)
Ending balance, value at Jun. 30, 2022		$ 6,577	$ 18,452,007	$ (18,437,679)	$ (2,098)	$ 18,807
Shares, Issued at Jun. 30, 2022		65,762,808

NOTE 1 _ ORGANIZATION AND PRINC

NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES	NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES Longwen Group Corp. (the “Company”), was originally incorporated as Expertelligence, Inc in the State of California on March 31, 1980 and reincorporated in the State of Nevada on November 17, 2005. On January 23, 2017, after a series of various name changes, the Company amended its Articles of Incorporation (“Charter Amendment”) to affect the current name change of Longwen Group Corp with trading symbol of “LWLW”. On or about April 5, 2016, the Company affected a 1 for 750 share reverse split of its issued and outstanding common stocks and reduced to 127,061 shares outstanding. Effective November 29, 2016, 66,667 shares of common stock of the Company were transferred to Longwen Group Corp., a Cayman Island company (“Longwen Cayman”). All of the shares held by Longwen Cayman are restricted securities. As a result of the transactions, Mr. Xizhen Ye, President of Longwen Cayman, was appointed as a sole Director of the Company, and President and Chief Executive Officer and Chief Financial Officer of the Company. On August 22, 2018, Mr. Lizhong Lu was appointed as a director of Board. From August 2018 to June 2021, the Company continued to seek for new business opportunities in order to increase its value of the common stock. However, due to the impact of the Covid-19 pandemic, the progress was delayed and the business goal was not successfully achieved. On June 9, 2021, Anthony Lombardo (“Lombardo”) filed an Application for Appointment of Custodian (“Application”) with the Eighth Judicial District Court in Nevada to request the custodianship of the Company due to the Company’s non-response and late filing with the State of Nevada. On June 24, 2021, a hearing was held on this Application, where Lombardo was named temporary custodian of the Company. Subsequently after Lombardo’s custodianship, Deanna Johnson was appointed as the CEO, CFO and Secretary of the Company. On September 1, 2021, Deanna Johnson appointed Joseph Passalaqua (“Joseph”) as CEO, CFO and Secretary and resigned from all positions in the Company, On October 25, 2021, Mr. Xizhen Ye (“Ye”), the ex-officer and director of the Company prior to Lombardo’s custodianship, and Longwen Cayman, filed a motion to dissolve custodianship (“Motion”) with the Eighth Judicial District Court of Nevada State. Pursuant to the Settlement Agreement entered on January 12, 2022, by Longwen Cayman, Mr. Ye, Lombardo, Joseph and Deanna Johnson regarding Lombardo’s custodianship, Mr. Ye and Mr. Lizhong Lu were reinstated as the officer and directors of the Company, and 65,000,000 common stocks of the Company was transferred from Joseph to Mr. Ye on February 9, 2022. Further on February 17, 2022, the Eighth Judicial District Court officially terminated Lombardo’s custodianship over the Company. On February 23, 2022, the Company entered into an Acquisition Agreement with a third-party individual to acquire the 100% ownership of Hangzhou Longwen Enterprise Management Co., Ltd. (“Hangzhou Longwen”), a wholly foreign-owned enterprise (“WOFE”) in Hangzhou, the People’s Republic of China (the “PRC”), for a total cash consideration of $1,000. As a result of the acquisition, Hangzhou Longwen became the Company’s wholly owned subsidiary in the PRC. Hangzhou Longwen was originally registered on January 4, 2012 and has minimum operations since its inception. The Company recognize $993 goodwill upon consummated the acquisition. The purpose of the Company’s acquisition for Hangzhou Longwen is to seek potential merger and acquisition targets in both China and other countries in Asia. On March 15, 2022, Hangzhou Longwen entered into a Consulting Service Agreement (the “Service Agreement”) with Yunnan Yusu Import and Export Trading Co., Ltd (China) (“Yunnan Yusu”), pursuant to which, Hangzhou Longwen will provide a series of consulting services to Yunnan Yusu, including to assist in the preparation of jadeite sales and purchase agreement, assist with tax filing, assist with financial report preparation, assist with jadeite business negotiation and business website maintenance. Currently, the Company’s revenues are mainly derived from the consulting services with Yunnan Yusu, which totaled $7,979 for the six months ended June 30, 2022. The Company is also seeking other potential merger and acquisition targets in both China and other countries in Asia.

NOTE 2 _ SUMMARY OF SIGNIFICANT

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The accompanying unaudited consolidated financial statements include the accounts of the Company and its subsidiary as described in Note 1. All significant intercompany transactions and balances have been eliminated in the consolidation. Basis of Presentation The unaudited consolidated financial statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement of the financial statements have been included. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions. Foreign Currency Transactions The Company’s consolidated financial statements are presented in U.S. dollars ($), which is the Company’s reporting and functional currency. The functional currency of the Company’s subsidiary is RMB. The resulting translation adjustments are reported under other comprehensive loss in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 220 (“ASC 220”), “Reporting Comprehensive Income” The Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from RMB into U.S. dollars are recorded in shareholders’ equity as part of accumulated other comprehensive loss. The exchange rate used for financial statements are as follows: Average Rate for the three months ended June 30, Average Rate for the Six months ended June 30, 2022 2021 2022 2021 China yuan (RMB) RMB 6.6102 RMB - RMB 6.4748 RMB - United States dollar ($) $ 1.0000 $ - $ 1.0000 $ - Exchange Rate at June 30, 2022 December 31, 2021 China yuan (RMB) RMB 6.6981 RMB - United States dollar ($) $ 1.0000 $ - Revenue Recognition The Company recognizes revenue when a customer obtains control of promised products or services, in an amount that reflects the consideration expected to be received in exchange for those products or services. The Company follows the five-step model prescribed under Topic 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies each performance obligation. Revenues are presented net of any sales or value added taxes collected from customers and remitted to the government. The Company’s consulting revenues consist of the delivery of focused insights and recommendations that assist customer with their challenges in developing and executing strategies around jadeite trade business, valuation of jadeite materials and the customer’s financial reporting. The consulting service provided are fixed-fee arrangements that are generally in one year term. The Company has concluded that each contract represents a single performance obligation as each is a single promise to deliver a customized engagement and deliverable. For the majority of these services, either practically or contractually, the work performed and delivered to the customer has no alternative use to the Company. Additionally, the Company maintains an enforceable right to payment at all times throughout the contract. Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes Related Parties The Company follows ASC 850, Related Party Disclosures, Accounting Standards Issued but Not Yet Adopted Credit Losses In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts, rather than the “incurred loss” model. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. The effective date of ASU No. 2016-13 for smaller reporting companies is postponed to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 will not have a material impact on its financial position and results of operations. There were other updates recently issued. The management does not believe that other than disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows.

NOTE 3 _ GOING CONCERN

NOTE 3 – GOING CONCERN	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 3 – GOING CONCERN	NOTE 3 – GOING CONCERN The Company’s consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. During the six months ended June 30, 2022, the Company incurred a net loss of $156,270 18,437,679 The Company’s future success is dependent upon its ability to acquire and achieve business with profitable operations, generate cash from operating activities and obtain additional financing. The Company intends to raise funds from the issuance of equity and/or debt securities, but there is no assurance that additional funds from the issuance of equity will be available for the Company to finance its operations on acceptable terms, or at all. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4 _ PREPAID EXPENSES AND O

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS	NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS As of June 30, 2022 and December 31, 2021, prepaid expenses and other current assets comprised as follows: June 30, 2022 December 31, 2021 Prepaid OTC market fee $ 1,167 $ — Prepaid consulting fee 79,083 Prepaid rent and parking lot 13,609 — Total $ 93,859 $ —

NOTE 5 _ EQUIPMENT, NET

NOTE 5 – EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
NOTE 5 – EQUIPMENT, NET	NOTE 5 – EQUIPMENT, NET As of June 30, 2022 and December 31, 2021, equipment consisted of the following: June 30, 2022 December 31, 2021 Equipment $ 7,639 $ - Less: accumulated depreciation (715 ) - Total equipment, net $ 6,924 $ - Depreciation expenses were $715 $572

NOTE 6 _ COMMERCIAL LOAN

NOTE 6 – COMMERCIAL LOAN	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
NOTE 6 – COMMERCIAL LOAN	NOTE 6 – COMMERCIAL LOAN The Company’s commercial loan consisted of the following as of June 30, 2022 and December 31, 2021: June 30, 2022 December 31, 2021 Loan with a third-party lender; the loan bears a fixed interest at $500 annum and matures on December 31, 2022 $ 12,250 $ 12,250 Total loans 12,250 12,250 Less: current portion of long-term loans (12,250 ) (12,250 ) Total long-term loans $ — $ — On December 31, 2019, the Company entered into a loan agreement of $12,250 $300 500 As of June 30, 2022 and December 31, 2021, the outstanding balances of the borrowing were $12,250 and $12,250, and the interest payables were $1,550 and $1,300, respectively. Total interest expenses for the loan were $125 and $125, respectively, for the three months ended June 30, 2022 and 2021. Total interest expenses for the loan were $250 and $250, respectively, for the six months ended June 30, 2022 and 2021.

NOTE 7 _ INCOME TAX

NOTE 7 – INCOME TAX	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
NOTE 7 – INCOME TAX	NOTE 7 – INCOME TAX As of June 30, 2022 and December 31, 2021, the Company has incurred an accumulated net loss of approximately $18.4 million and $18.3 million which resulted in a net operating loss for income tax purposes. NOLs can carry forward indefinitely up to offset 80 percent of taxable income after CARES Act effect on December 31, 2017. The deferred tax asset has been fully reserved for valuation allowance as the Company believes they will most-likely-than-not realize the benefits. Significant components of the deferred tax assets and liabilities for income taxes as of June 30, 2022 and December 31, 2021 consisted of the following: June 30, 2022 December 31, 2021 Deferred tax assets Net operating loss carry-forward $ 38,119 $ 5,302 Total $ 38,119 $ 5,302 Valuation allowance (38,119 ) (5,302 ) Net deferred tax assets - noncurrent $ — $ — Reconciliation of income tax provision and the accounting profit multiplied by U.S. federal income tax rate for the three and six months ended June 30, 2022 and December 31, 2021: Three Months Ended June 30, Six Months ended June 30, 2022 2021 2022 2021 Income (loss) at 21% statutory tax rate $ (23,734 ) $ (26 ) $ (32,817 ) $ (52 ) Increase (decrease) in income taxes resulting from: Net operating loss carry forward — — — Change in valuation allowance 23,734 26 32,817 52 $ — $ — $ — $ —

NOTE 8 _ STOCKHOLDERS_ EQUITY

NOTE 8 – STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
NOTE 8 – STOCKHOLDERS’ EQUITY	NOTE 8 – STOCKHOLDERS’ EQUITY Common Stock On June 28, 2021, the Company issued 65,000,000 shares of common stock to Joseph to retire $6,500 loan borrowed. In March 2022, the Company sold 386,955 shares of common stock to fifteen non-U.S. investors at $0.30 per share. Total $116,087 was received for 386,955 shares common stocks subscribed in March 2022. Between April 1 and May 31, 2022, the Company sold 248,792 shares of common stock to twenty-six investors for a total amount of $74,638. The Company relied upon Regulation S of the Securities Act of 1933, as amended, for the sale of these securities. No commissions were paid regarding the share issuance and the share certificates were issued with a Rule 144 restrictive legend.

NOTE 9 _ RELATED PARTY TRANSACT

NOTE 9 – RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
NOTE 9 – RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS During the six months ended June 30, 2022, the Company borrowed total $82,107 78,088 4,021

NOTE 10 _ CONTINGENCIES

NOTE 10 – CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
NOTE 10 – CONTINGENCIES	NOTE 10 – CONTINGENCIES On June 9, 2021, Anthony Lombardo (“Lombardo”) filed an Application for Appointment of Custodian (“Application”) with the Eighth Judicial District Court in Nevada to request the custodianship of the Company due to the Company’s non-response and late filing with the State of Nevada. On June 24, 2021, a hearing was held on this Application, where Lombardo was named temporary custodian of the Company. Subsequently after Lombardo’s custodianship, Deanna Johnson and Joseph Passalaqua (“Joseph”) were designated as the CEO, CFO and Secretary of the Company in June and September 2021, respectively. On October 25, 2021, Mr. Xizhen Ye (“Ye”), the ex-officer and director of the Company prior to Lombardo’s custodianship, and Longwen Cayman, filed a motion to dissolve custodianship (“Motion”) with the Eighth Judicial District Court of Nevada State. Pursuant to the Settlement Agreement entered on January 12, 2022, by Longwen Cayman, Mr. Ye, Lombardo, Joseph and Deanna Johnson regarding Lombardo’s custodianship, Mr. Ye and Mr. Lizhong Lu were reinstated as the officer and directors of the Company, and 65,000,000

NOTE 10 _ SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
NOTE 10 – SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS The Company has evaluated all other subsequent events through the date these consolidated financial statements were issued and determine that there were no other subsequent events or transactions that require recognition or disclosures in the consolidated financial statements.

NOTE 2 _ SUMMARY OF SIGNIFICA_2

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying unaudited consolidated financial statements include the accounts of the Company and its subsidiary as described in Note 1. All significant intercompany transactions and balances have been eliminated in the consolidation.
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, considered necessary for a fair statement of the financial statements have been included. Operating results for the six months ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates and assumptions.
Foreign Currency Transactions	Foreign Currency Transactions The Company’s consolidated financial statements are presented in U.S. dollars ($), which is the Company’s reporting and functional currency. The functional currency of the Company’s subsidiary is RMB. The resulting translation adjustments are reported under other comprehensive loss in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 220 (“ASC 220”), “Reporting Comprehensive Income” The Company translates the assets and liabilities into U.S. dollars using the rate of exchange prevailing at the balance sheet date and the statements of operations and cash flows are translated at an average rate during the reporting period. Adjustments resulting from the translation from RMB into U.S. dollars are recorded in shareholders’ equity as part of accumulated other comprehensive loss. The exchange rate used for financial statements are as follows: Average Rate for the three months ended June 30, Average Rate for the Six months ended June 30, 2022 2021 2022 2021 China yuan (RMB) RMB 6.6102 RMB - RMB 6.4748 RMB - United States dollar ($) $ 1.0000 $ - $ 1.0000 $ - Exchange Rate at June 30, 2022 December 31, 2021 China yuan (RMB) RMB 6.6981 RMB - United States dollar ($) $ 1.0000 $ -
Revenue Recognition	Revenue Recognition The Company recognizes revenue when a customer obtains control of promised products or services, in an amount that reflects the consideration expected to be received in exchange for those products or services. The Company follows the five-step model prescribed under Topic 606: (i) identify the contract(s) with a customer; (ii) identify the performance obligation(s) in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligation(s) in the contract; and (v) recognize revenue when (or as) the Company satisfies each performance obligation. Revenues are presented net of any sales or value added taxes collected from customers and remitted to the government. The Company’s consulting revenues consist of the delivery of focused insights and recommendations that assist customer with their challenges in developing and executing strategies around jadeite trade business, valuation of jadeite materials and the customer’s financial reporting. The consulting service provided are fixed-fee arrangements that are generally in one year term. The Company has concluded that each contract represents a single performance obligation as each is a single promise to deliver a customized engagement and deliverable. For the majority of these services, either practically or contractually, the work performed and delivered to the customer has no alternative use to the Company. Additionally, the Company maintains an enforceable right to payment at all times throughout the contract.
Income Taxes	Income Taxes The Company accounts for income taxes under ASC 740, “ Income Taxes Related Parties The Company follows ASC 850, Related Party Disclosures,
Accounting Standards Issued but Not Yet Adopted	Accounting Standards Issued but Not Yet Adopted Credit Losses In June 2016, the FASB issued ASU No. 2016-13, (FASB ASC Topic 326), Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments which amends the current accounting guidance and requires the use of the new forward-looking “expected loss” model, which requires all expected losses to be determined based on historical experience, current conditions and reasonable and supportable forecasts, rather than the “incurred loss” model. This guidance amends the accounting for credit losses for most financial assets and certain other instruments including trade and other receivables, held-to-maturity debt securities, loans and other instruments. The effective date of ASU No. 2016-13 for smaller reporting companies is postponed to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company believes the adoption of ASU No. 2016-13 will not have a material impact on its financial position and results of operations. There were other updates recently issued. The management does not believe that other than disclosed above, accounting pronouncements the recently issued but not yet adopted will have a material impact on its financial position results of operations or cash flows.

NOTE 4 _ PREPAID EXPENSES AND_2

NOTE 4 – PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	June 30, 2022 December 31, 2021 Prepaid OTC market fee $ 1,167 $ — Prepaid consulting fee 79,083 Prepaid rent and parking lot 13,609 — Total $ 93,859 $ —

NOTE 5 _ EQUIPMENT, NET (Tables

NOTE 5 – EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	June 30, 2022 December 31, 2021 Equipment $ 7,639 $ - Less: accumulated depreciation (715 ) - Total equipment, net $ 6,924 $ -

NOTE 6 _ COMMERCIAL LOAN (Table

NOTE 6 – COMMERCIAL LOAN (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Commerical Loan	June 30, 2022 December 31, 2021 Loan with a third-party lender; the loan bears a fixed interest at $500 annum and matures on December 31, 2022 $ 12,250 $ 12,250 Total loans 12,250 12,250 Less: current portion of long-term loans (12,250 ) (12,250 ) Total long-term loans $ — $ —

NOTE 7 _ INCOME TAX (Tables)

NOTE 7 – INCOME TAX (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Deferred Income Taxes	June 30, 2022 December 31, 2021 Deferred tax assets Net operating loss carry-forward $ 38,119 $ 5,302 Total $ 38,119 $ 5,302 Valuation allowance (38,119 ) (5,302 ) Net deferred tax assets - noncurrent $ — $ —
Income Tax Provision	Three Months Ended June 30, Six Months ended June 30, 2022 2021 2022 2021 Income (loss) at 21% statutory tax rate $ (23,734 ) $ (26 ) $ (32,817 ) $ (52 ) Increase (decrease) in income taxes resulting from: Net operating loss carry forward — — — Change in valuation allowance 23,734 26 32,817 52 $ — $ — $ — $ —

NOTE 3 _ GOING CONCERN (Details

NOTE 3 – GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net Income (Loss) Attributable to Parent	$ 113,020	$ 15,600,125	$ 156,270	$ 15,600,250
Retained Earnings (Accumulated Deficit)	$ 18,437,679		$ 18,437,679		$ 18,281,409

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid OTC market fee	$ 1,167
Prepaid consulting fee	79,083
Prepaid rent and parking lot	13,609
Total	$ 93,859

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Equipment	$ 7,639
Less: accumulated depreciation	(715)
Total equipment, net	$ 6,924

NOTE 5 _ EQUIPMENT, NET (Detail

NOTE 5 – EQUIPMENT, NET (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation, Nonproduction		$ 715
Depreciation	$ 572	$ 730

Commerical Loan (Details)

Commerical Loan (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2019
Debt Disclosure [Abstract]
Loan with a third-party lender; the loan bears a fixed interest at $500 annum and matures on December 31, 2022	$ 12,250	$ 12,250	$ 12,250

NOTE 6 _ COMMERCIAL LOAN (Detai

NOTE 6 – COMMERCIAL LOAN (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Loans Payable, Current	$ 12,250		$ 12,250	$ 12,250
Interest Expense, Short-Term Borrowings	$ 300
Debt Instrument, Periodic Payment, Interest		$ 500

Deferred Income Taxes (Details)

Deferred Income Taxes (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred tax assets
Net operating loss carry-forward	$ 38,119	$ 5,302
Valuation allowance	(38,119)	(5,302)
Net deferred tax assets - noncurrent

Income Tax Provision (Details)

Income Tax Provision (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income (loss) at 21% statutory tax rate	$ (23,734)	$ (26)	$ (32,817)	$ (52)
Change in valuation allowance	$ 23,734	$ 26	$ 32,817	$ 52

NOTE 9 _ RELATED PARTY TRANSA_2

NOTE 9 – RELATED PARTY TRANSACTIONS (Details Narrative)	6 Months Ended
	Jun. 30, 2022 USD ($)
Related Party Transactions [Abstract]
Proceeds from Related Party Debt	$ 82,107
Due to Related Parties	78,088
Translation Adjustment Functional to Reporting Currency, Net of Tax	$ 4,021

NOTE 10 _ CONTINGENCIES (Detail

NOTE 10 – CONTINGENCIES (Details Narrative)	1 Months Ended
	Feb. 09, 2022 shares
Commitments and Contingencies Disclosure [Abstract]
Stock Issued During Period, Shares, Issued for Services	65,000,000