What changed in this filing

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Item 1. Financial Statements

2021-11-10 compared with 2021-08-10 · 72 added, 67 removed, 400 unchanged (26% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

Current Assets

Total Current Assets

LIABILITIES AND STOCKHOLDERS’

2 unchanged sentences

and accrued liabilities

to related parties

Due to related parties

Total Current Liabilities

3 unchanged sentences

5,000,000 shares authorized;

$ 0.001 par value 5,000,000 issued and outstanding at June 30, 2021 and December 31, 2020

$ 0.001 par value 5,000,000 issued and outstanding at September 30, 2021 and December 31, 2020

Common stock:

250,000,000 shares authorized;

$ 0.001 par value 74,640,766 shares issued and outstanding at June, 2021 and December 31, 2020

Capital deficiency

Accumulated deficit

during development stage

$ 0.001 par value 74,640,766 shares issued and outstanding at September 30, 2021 and December 31, 2020

Paid-in capital

Accumulated deficit during development stage

( 97,316,341 )

( 97,272,577 )

Total Stockholders’

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Total Stockholders’ Deficit

TOTAL LIABILITIES AND STOCKHOLDERS’

accompanying notes are an integral part of these financial statements.

1 unchanged sentence

OF OPERATIONS

Three Months Ended

Six Months Ended

Operating Expenses

2 unchanged sentences

Operating loss

Other Income and Expenses

other income (expenses)

Other Income and Expense

other income (expense)

Provision for income

Basic and dilutive net

loss per common share

Weighted average common shares outstanding

– basic and diluted

Weighted average number

of common shares outstanding - basic and diluted

accompanying notes are an integral part of these financial statements.

6 unchanged sentences

Cancellation of common stock

Cancellation of common stock, shares

Conversion of preferred stock

2 unchanged sentences

Issuance of preferred stock, shares

Balance – March 31, 2021

$ ( 97,293,337 )

Cancellation of common stock

Balance – June

$ ( 97,303,234 )

Balance – September

$ ( 97,316,341 )

Paid-in Capital

2 unchanged sentences

$ ( 97,254,935 )

Balance – March

$ ( 97,259,777 )

Beginning balance

$ ( 97,259,777 )

Conversion of preferred stock

2 unchanged sentences

$ ( 97,260,759 )

Beginning Balance

$ ( 97,260,759 )

Balance – September

$ ( 97,262,177 )

Ending Balance

8 unchanged sentences

and liabilities:

Prepaid expense

Interest receivable

Accounts payable and accrued

11 unchanged sentences

paid for interest

NON-CASH INVESTING AND FINANCING

stock issued as repayment to related party loan

accompanying notes are an integral part of these financial statements.

3 unchanged sentences

of Presentation and Organization

summary of significant accounting policies of Hong Yuan Holding Group (a development stage company) (“the Company”) is presented

summary of significant accounting policies of Hong Yuan Holding Group.

(a development stage company) (“the Company”) is presented

to assist in understanding the Company’s financial statements.

8 unchanged sentences

an amendment to our certificate of incorporation to change our name to Cereplast, Inc.

We have developed and are commercializing proprietary

bio-based resins through two complementary product families:

Cereplast Compostables ® resins which are compostable, renewable,

ecologically sound substitutes for petroleum-based plastics, and Cereplast Sustainables™ resins (including the Cereplast Hybrid

Resins product line), which replaces up to 90 % of the petroleum-based content of traditional plastics with materials from renewable resources.

We developed and tried to commercialize

proprietary bio-based resins through two

complementary product families:

Cereplast Compostables

® resins which are compostable, renewable, ecologically sound substitutes for petroleum-based plastics, and Cereplast

Sustainables™ resins (including the Cereplast Hybrid Resins product line), which replaces up to 90 %

of the petroleum-based content of traditional plastics with materials from renewable resources.

February 10, 2014, the Company, filed a voluntary petition for relief under Chapter 11 of Title 11 of the United States Bankruptcy Code

36 unchanged sentences

are determined and structured by the new major shareholder.

On November 18, 2020, the Company filed an amendment to its certificate of incorporation to change its name to Hong Yuan Holding Group

November 18, 2020, the Company filed an amendment to its certificate of incorporation to change its name to Hong Yuan Holding Group.

accompanying financial statements are prepared on the basis of accounting principles generally accepted in the United States of America

46 unchanged sentences

The Company’s diluted loss per share is the same as the basic loss per share for

the three months ended September 30, 2018 and 2017, as there are no potential shares outstanding that would have a dilutive effect.

the nine months ended September 30, 2021 and 2020, as there are no potential shares outstanding that would have a dilutive effect.

tax expense is based on pretax financial accounting income.

4 unchanged sentences

The Company recorded a valuation allowance against

its deferred tax assets as of June 30, 2021 and December 31, 2020.

its deferred tax assets as of September 30, 2021 and December 31, 2020.

Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions.

38 unchanged sentences

of funds loaned to the Company.

the six months ended June 30, 2021, the Company’s current majority shareholder advanced $ 28,602 to the Company as working capital.

As of June 30, 2021 and December 31, 2020, the Company owed its current majority shareholders of $ 34,902 , and $ 6,300 , respectively.

advances are non-interest bearing and are due on demand.

the nine months ended September 30, 2021, the Company’s current majority shareholder advanced $ 41,214 to the Company as working

As of September 30, 2021 and December 31, 2020, the Company owed its current majority shareholders of $ 47,514 , and $ 6,300 , respectively.

The advances are non-interest bearing and are due on demand.

5 – Common stock

9 unchanged sentences

May 27, 2021, the 510 shares of common stock issued to Custodian Ventures were cancelled.

of June 30, 2021, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

of September 30, 2021, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

9 unchanged sentences

5,000,000 shares of the Series A-1 Preferred stock valued at $ 5,000 to Custodian Ventures LLC as repayment funds loaned to the Company.

of June 30, 2021, a total of 5,000,000 shares of Series A-1 preferred stock with par value $ 0.001 remain outstanding.

of September 30, 2021, a total of 5,000,000 shares of Series A-1 preferred stock with par value $ 0.001 remain outstanding.

7 – Income Taxes

2 unchanged sentences

Temporary differences result primarily from the recording of tax benefits of net operating loss carry forwards.

of June 30, 2021, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of September 30, 2021, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

with the deferred tax asset.

3 unchanged sentences

expenses in the statements of operations.

For June 30, 2021 and 2020, the Company had no unrecognized tax benefits and related interest

For September 30, 2021 and 2020, the Company had no unrecognized tax benefits and related interest

and penalties expenses.

45 unchanged sentences

are determined and structured by the new major shareholder.

On November 18, 2020, the Company filed an amendment

to its certificate of incorporation to change its name to Hong Yuan Holding Group

November 18, 2020, the Company filed an amendment to its certificate of incorporation to change its name to Hong Yuan Holding Group.

have not yet generated sustained profits from our prior operations.

Our independent accountants have expressed a “going concern”

As of June 30, 2021, we had an accumulated deficit of $97,303,234 and a net working capital deficit of $37,557.

As of September 30, 2021, we had an accumulated deficit of $97,316,341 and a net working capital deficit of $50,664.

our current burn rate is nominal, it is expected that our costs of operations will continue to exceed revenues, primarily due to the

4 unchanged sentences

doubt about our ability to continue as a going concern.

The Company is planning potential acquisitions.

The management has

approached several companies in China as potential acquisition targets.

The Company feels strongly that despite the challenges of cross

border business, it might be able to acquire some good growth companies and bring good values to our stockholders.

Accounting Policies, Judgments and Estimates

35 unchanged sentences

in the length of time that the receivables are past due greater than the historical assumptions used, additional allowances may be required.

The Company has no accounts receivables and therefore as of June 30, 2021, and 2020 no allowance for doubtful accounts is necessary.

The Company has no accounts receivables and therefore as of September 30, 2021, and 2020 no allowance for doubtful accounts is necessary.

Company follows the asset and liability method of accounting for future income taxes.

6 unchanged sentences

The Company’s effective tax rate approximates the Federal statutory rates.

of Operations for the Three and Six Months Ended June 30, 2021 compared to the Three and Six Months Ended June 30, 2020

of Operations for the Three and Nine Months Ended September 30, 2021 compared to the Three and Nine Months Ended September 30, 2020

the summer of 2014, the Company decided to discontinue all operations.

1 unchanged sentence

operations are determined and structured by the new major shareholder.

the three and six months ended June 30, 2021 and 2020, we generated no revenues.

expenses, during the three months ended June 30, 2021, was $9,897 compared to $1,287 during the three months ended June 30, 2020, an

increase of $8,610 or 669%.

Operating expenses during the six months ended June 30, 2021, was $30,657 compared to $6,353 during the six

months ended June 30, 2020, an increase of $24,304 or 383%.

The increase was mainly due to the higher professional fees related to the

change of control and the filing of form 10 to become a SEC reporting company.

the three months ended June 30, 2021, the Company incurred a net loss of $9,897, compared to a net loss of $982 during the three months

ended June 30, 2020, an increase of 8,915.

During the six months ended June 30, 2021, the Company incurred a net loss of $30,657, compared

to a net loss of $5,824 during the six months ended June 30, 2020, an increase of $24,833.

The increase in net loss in the three and

six months ended in June 30, 2021 was primarily due to the increase in operating expenses.

the three and nine months ended September 30, 2021 and 2020, we generated no revenues.

expenses, during the three months ended September 30, 2021, was $13,107 compared to $2,156 during the three months ended September 30,

2020, an increase of $10,951 or 508%.

Operating expenses during the nine months ended September 30, 2021, was $43,764 compared to $8,508

during the nine months ended September 30, 2020, an increase of $35,256 or 414%.

The increase was mainly due to the higher professional

fees related to the change of control and the filing of form 10 to become a SEC reporting company.

the three months ended September 30, 2021, the Company incurred a net loss of $13,107, compared to a net loss of $1,419 during the three

months ended September 30, 2020, an increase of 11,688.

During the nine months ended September 30, 2021, the Company incurred a net loss

of $43,764, compared to a net loss of $7,242 during the nine months ended September 30, 2020, an increase of $36,522.

The increase in

net loss in the three and nine months ended September 30, 2021 was primarily due to the increase in operating expenses.

and Capital Resources

of June 30, 2021, and 2020, we had a cash balance of $0.

Due to the lack of revenue, the company’s operations are primarily funded

by the Company’s CEO and major shareholder.

of September 30, 2021, and 2020, we had a cash balance of $0.

Due to the lack of revenue, the company’s operations are primarily

funded by the Company’s CEO and major shareholder.

the extent that the Company’s capital resources are insufficient to meet current or planned operating requirements, the Company

22 unchanged sentences

raise substantial doubt about the ability of the Company to continue as a going concern.

cash used in operating activities was $0 during the six months ended June 30, 2021 and 2020.

neither generated nor used cash in investing activities during the six months ended June 30, 2021 and 2020.

neither generated nor used cash in financing activities during the six months ended June 30, 2021 and 2020.

cash used in operating activities was $0 during the nine months ended September 30, 2021 and 2020.

neither generated nor used cash in investing activities during the nine months ended September 30, 2021 and 2020.

neither generated nor used cash in financing activities during the nine months ended September 30, 2021 and 2020.

accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As shown in the accompanying

financial statements, we have incurred net losses of $30,657 and $5,824 for the six months ended June 30, 2021 and 2020, respectively,

and have a working capital deficit of $37,557 as of June 30, 2021, in addition to a stockholder deficit of $37,557, which raise substantial

doubt about the Company’s ability to continue as a going concern.

financial statements, we have incurred net losses of $43,764 and $7,242 for the nine months ended September 30, 2021 and 2020, respectively,

and have a working capital deficit of $50,664 as of September 30, 2021, in addition to a stockholder deficit of $50,664, which raise

substantial doubt about the Company’s ability to continue as a going concern.

believes the Company will continue to incur losses and negative cash flows from operating activities for the foreseeable future and will

22 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements