What changed in this filing

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Item 1. Financial Statements

2022-05-16 compared with 2021-11-10 · 93 added, 128 removed, 344 unchanged (39% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

LIABILITIES AND STOCKHOLDERS’

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current Liabilities

Accounts payable

and accrued liabilities

Accounts payable and accrued liabilities

Due to related parties

4 unchanged sentences

5,000,000 shares authorized;

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

$ 0.001 par value 5,000,000 issued and outstanding at

March 31, 2022 and December 31, 2021

Common stock:

250,000,000 shares authorized;

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

Paid-in capital

$ 0.001 par value 74,640,766 shares issued and

outstanding at March 31, 2022 and December 31, 2021

Capital deficiency

Accumulated deficit during development stage

2 unchanged sentences

Total Stockholders’ Deficit

TOTAL LIABILITIES AND STOCKHOLDERS’

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

accompanying notes are an integral part of these financial statements.

1 unchanged sentence

OF OPERATIONS

Operating Expenses

administrative

Three Months Ended

Operating Expenses

General and administrative

Professional fees

Total Operating Expenses

Operating loss

Other Income and Expense

other income (expense)

Provision for income

Basic and dilutive net

loss per common share

Weighted average number

of common shares outstanding - basic and diluted

Provision for income taxes

Basic and dilutive net loss per common share

Weighted average number of common shares outstanding - basic and diluted

accompanying notes are an integral part of these financial statements.

1 unchanged sentence

OF STOCKHOLDERS’ EQUITY

Paid-in Capital

Other Comprehensive Income

Common Stock:

Preferred Stock:

Additional Paid-in Capital

Accumulated Deficit

Balance – December 31.

$ ( 97,318,835 )

Cancellation of common stock

Conversion of preferred stock

Conversion of preferred stock, shares

Issuance of preferred stock

Issuance of preferred stock, shares

Balance – June

Balance – March 31, 2022

$ ( 97,338,353 )

Balance – September

$ ( 72,676 ))

Paid-in Capital

Other Comprehensive Income

Balance – December 31.

$ ( 97,272,577 )

Conversion of preferred stock

Issuance of preferred stock

Balance – June

$ ( 97,260,759 )

Beginning Balance

Beginning balance, value

$ ( 97,272,577 )

Balance – September

Balance – March 31, 2021

$ ( 97,293,337 )

Ending Balance

Ending balance, value

$ ( 97,293,337 )

2 unchanged sentences

OF CASH FLOWS

CASH FLOWS FROM OPERATING

Adjustments to reconcile

net loss to net cash used in operating activities:

Changes in operating assets

and liabilities:

Prepaid expense

Interest receivable

Accounts payable and accrued

payable - related party

Net Cash Used in Operating

CASH FLOWS FROM INVESTING

CASH FLOWS FROM FINANCING

Net change in cash and cash equivalents for

Cash and cash equivalents

at beginning of the year

Cash and cash equivalents

at end of the year

Three Months Ended

CASH FLOWS FROM OPERATING ACTIVITIES

Adjustments to reconcile net loss to net cash used in operating activities:

Changes in operating assets and liabilities:

Accounts payable and accrued liabilities

Loan payable - related party

Net Cash Used in Operating Activities

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

Net change in cash and cash equivalents for the year

Cash and cash equivalents at beginning of the year

Cash and cash equivalents at end of the year

SUPPLEMENTAL CASH FLOW INFORMATION:

paid for income taxes

paid for interest

NON-CASH INVESTING AND FINANCING

stock issued as repayment to related party loan

Cash paid for income taxes

Cash paid for interest

accompanying notes are an integral part of these financial statements.

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

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.

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

68 unchanged sentences

balance sheets and certain comparative information as of December 31, 2021 are derived from the audited financial statements and related

notes for the year ended December 31, 2020, included in the Company’s Form 10.

notes for the year ended December 31, 2021, included in the Company’s Form 10K.

These unaudited interim financial statements should

be read in conjunction with the annual consolidated financial statements and the accompanying notes contained in our Form 10.

be read in conjunction with the annual consolidated financial statements and the accompanying notes contained in our Form 10K.

March 11, 2020, the World Health Organization announced that infections caused by the corona virus disease of 2019 (“COVID-19”)

had become pandemic.

The Government of China has adopted various regulations and orders, including mandatory quarantines, limits on the

number of people that may gather in one location, closing non-essential businesses and travel bans to limit the spread of the disease.

Many of these measures have been relaxed due to the decrease in the prevalence of Covid-19 in China.

However, since February 2022 to

date, COVID-19 cases have increased again in many cities of China.

The Company’s efforts to establishing a new business, financial

planning, raising capital, and research into products for the Company’s product portfolio has somewhat impacted by COVID-19.

and Cash Equivalents

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

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

the three months ended March 31, 2022 and 2021, 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 September 30, 2021 and December 31, 2020.

its deferred tax assets as of March 31, 2022 and December 31, 2021.

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

5 unchanged sentences

Interest and penalties related to uncertain tax positions are recognized in the provision for income taxes.

Accounting Pronouncements

December 2019, the FASB issued ASU No.

2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity

in accounting standards.

The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim

periods therein.

Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements

have not yet been issued.

The Company is currently evaluating the effect, if any, that the ASU will have on its consolidated financial

3- Going Concern

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of funds loaned to the Company.

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 three months ended March 31, 2022, the Company’s current majority shareholder advanced $ 19,250 to the Company as working capital.

As of March 31, 2022 and December 31, 2021, the Company owed its current majority shareholders of $ 72,426 and $ 53,176 , respectively.

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

5 – Common stock

October 4, 2019, the Company issued 50,000,000 shares of common stock to Custodian Ventures, LLC at par for shares valued at $ 50,000

in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $ 20,100 , and a note

receivable due to the Company in the amount of $ 29,900 .

The note bears an interest of 3 % and matures in 180 days following written demand

by the holder.

At December 31, 2020, the note receivable with a balance of $ 31,383 was written off because the collectability of the

note is unlikely after the change of control.

October 4, 2019, the Company issued 50,000,000 shares of common stock to Custodian Ventures, LLC, the former major shareholder, at par

for shares valued at $ 50,000 in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the

amount of $ 20,100 , and a note receivable due to the Company in the amount of $ 29,900 .

The note bears an interest of 3 % and matures in

180 days following written demand by the holder.

At December 31, 2020, the note receivable with a balance of $ 31,383 was written off

because the collectability of the note is unlikely after the change of control.

April 14, 2020, Custodian Ventures elected to convert the total amount of the 510 shares of Series A preferred stock into 510 shares

1 unchanged sentence

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

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

of March 31, 2022, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

October 4, 2019, the Company issued 510 shares of Series A Preferred stock to Custodian Ventures, LLC at par for shares valued at $ 510

in exchange for settlement of a portion of a related party loan for amounts advanced to the Company in the amount of $ 510 .

April 14, 2020, Custodian Ventures elected to convert the total amount of the 510 shares of Series A preferred stock into 510 shares

of common stock.

April 15, 2020, the Board of directors of the Company approved the withdrawal of the certificate of designation of 5,000,000 shares of

Series A Preferred stock filed with the Nevada Secretary of State on August 24, 2012, as amended by the Amendment to Certificate of Designation

after issuance of Class or Series filed with the Nevada Secretary of State on April 13, 2020.

May 1, 2020, the Company created 5,000,000 shares of series A-1 preferred stock with par value $ 0.001 .

On May 4, 2020, the Company issued

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

of March 31, 2022, 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 September 30, 2021, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of March 31, 2022, 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 September 30, 2021 and 2020, the Company had no unrecognized tax benefits and related interest

and penalties expenses.

For the three months ended March 31, 2022 and 2021, the Company had no unrecognized tax benefits

and related interest and penalties expenses.

Currently, the Company is not subject to examination by major tax jurisdictions.

47 unchanged sentences

Our independent accountants have expressed a “going concern”

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

As of March 31, 2022, we had an accumulated deficit of $97,338,353 and a net working capital deficit of $72,676.

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.

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 September 30, 2021, and 2020 no allowance for doubtful accounts is necessary.

The Company has no accounts receivables and therefore as of March 31, 2022, and 2021 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 Nine Months Ended September 30, 2021 compared to the Three and Nine Months Ended September 30, 2020

of Operations for the Quarter Ended March 31, 2022 compared to the Quarter Ended March 31, 2021

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 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.

the quarters ended March 31, 2022 and 2021, we generated no revenues.

expenses, during the quarter ended March 31, 2022, was $19,500 compared to $20,760 during the quarter ended March 31, 2021, a decrease

of $1,260 or 6%.

The decrease was mainly due to the lower professional fees.

the quarter ended March 31, 2022, the Company incurred a net loss of $19,500, compared to a net loss of $20,760 during the quarter ended

March 31, 2021.

The $1,260 decrease in net loss was primarily due to the decrease in operating expenses.

and Capital Resources

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.

of March 31, 2022 and 2021, 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

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

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.

cash used in operating activities was $0 during the three months ended March 31, 2022 and 2021.

neither generated nor used cash in investing activities during the three months ended March 31, 2022 and 2021.

neither generated nor used cash in financing activities during the three months ended March 31, 2022 and 2021.

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 $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.

financial statements, we have incurred net losses of $19,500 and $20,760 for the quarters ended March 31, 2022 and 2021, respectively,

and have a working capital deficit of $72,676 as of March 31, 2022, in addition to a stockholder deficit of $72,676, 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