What changed in this filing

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Item 1. Financial Statements

2022-11-14 compared with 2022-08-15 · 78 added, 76 removed, 357 unchanged (30% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

LIABILITIES AND STOCKHOLDERS’ DEFICIT

September 30,

LIABILITIES AND STOCKHOLDERS’

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 June 30, 2022 and December

$ 0.001 par value 5,000,000

issued and outstanding at September 30, 2022 and December 31, 2021

Common stock:

250,000,000 shares authorized;

$ 0.001 par value, 74,640,766 shares issued and outstanding at June 30, 2022 and

December 31, 2021

$ 0.001 par value 74,640,766

shares issued and outstanding at September 30, 2022 and December 31, 2021

Additional Paid-in Capital

3 unchanged sentences

Total Stockholders’ Deficit

TOTAL LIABILITIES AND 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

General and administrative

Professional fees

Total Operating Expenses

administrative

Operating Expenses

Operating loss

1 unchanged sentence

Provision for income taxes

Basic and dilutive net loss per common share

Weighted average number of common shares outstanding - basic and diluted

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

Common Stock:

Preferred Stock:

Additional Paid-in Capital

Paid-in Capital

Balance – December 31.

$ ( 97,318,853 )

Balance – March 31, 2022

$ ( 97,338,353 )

Balance – June 30, 2022

$ ( 97,344,963 )

Common Stock:

Preferred Stock:

Additional Paid-in Capital

Balance – December 31.

Balance – September

$ ( 97,354,888 )

Balance – March 31, 2021

Paid-in Capital

Balance – December 31.

$ ( 97,272,577 )

2 unchanged sentences

$ ( 97,303,234 )

Beginning balance

$ ( 97,303,234 )

Balance – September

$ ( 97,316,341 )

accompanying notes are an integral part of these financial statements.

1 unchanged sentence

OF CASH FLOWS

Six 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

CASH FLOWS FROM OPERATING

Adjustments to reconcile

net loss to net cash used in operating activities:

Changes in operating assets

and liabilities:

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

SUPPLEMENTAL CASH FLOW INFORMATION:

Cash paid for income taxes

Cash paid for interest

paid for income taxes

paid for interest

accompanying notes are an integral part of these financial statements.

100 unchanged sentences

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.

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

12 unchanged sentences

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

the six months ended June 30, 2022 and 2021, as there are no potential shares outstanding that would have a dilutive effect.

the nine months ended September 30, 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 June 30, 2022 and December 31, 2021.

its deferred tax assets as of September 30, 2022 and December 31, 2021.

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

19 unchanged sentences

4 – Related party transaction

the six months ended June 30, 2022, the Company’s current majority shareholder advanced $ 26,110 to the Company as working capital.

As of June 30, 2022 and December 31, 2021, the Company owed its current majority shareholders of $ 79,286 and $ 53,176 , respectively.

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

the nine months ended September 30, 2022, the Company’s current majority shareholder advanced $ 35,135 to the Company as working

As of September 30, 2022 and December 31, 2021, the Company owed its current majority shareholders of $ 88,311 and $ 53,176 , 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, 2022, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

September 30, 2022, the Company is authorized to issue 250,000,000 shares of $ 0.001 par value common stock.

of September 30, 2022, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

of June 30, 2022, a total of 5,000,000 shares of Series A-1 preferred stock with par value $ 0.001 remain outstanding.

of September 30, 2022, a total of 5,000,000 shares of Series A-1 preferred stock with par value $ 0.001 is authorized and 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, 2022, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of September 30, 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 the six months ended June 30, 2022 and 2021, the Company had no unrecognized tax benefits

and related interest and penalties expenses.

For the nine months ended September 30, 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.

40 unchanged sentences

Our independent accountants have expressed a “going concern”

As of June 30, 2022, we had an accumulated deficit of $97,344,963 and a net working capital deficit of $79,286.

As of September 30, 2022, we had an accumulated deficit of $97,354,888 and a net working capital deficit of $89,211.

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

48 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, 2022 and 2021, no allowance for doubtful accounts is necessary.

The Company has no accounts receivables and therefore as of September 30, 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 Quarter Ended June 30, 2022 compared to the Quarter Ended June 30, 2021

of Operations for the Three and Nine Months Ended September 30, 2022 compared to the Three and Nine Months Ended September 30, 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 quarters ended June 30, 2022 and 2021, we generated no revenues.

expenses, during the quarter ended June 30, 2022, was $6,610 compared to $9,897 during the quarter ended June 30, 2021, a decrease of

$3,287 or 33%.

Operating expenses during the six months ended June 30, 2022, was $26,110 compared to $30,657 during the six months ended

June 30, 2021, a decrease of $4,547 or 15%.

the three and nine months ended September 30, 2022 and 2021, we generated no revenues.

expenses, during the three months ended September 30, 2022, was $9,925 compared to $13,107 during the three months ended September 30,

2021, a decrease of $3,182 or 24%.

Operating expenses during the nine months ended September 30, 2022, was $36,035 compared to $43,764

during the nine months ended September 30, 2021, a decrease of $7,729 or 18%.

The decrease was mainly due to the lower professional fees.

the quarter ended June 30, 2022, the Company incurred a net loss of $6,610, compared to a net loss of $9,897 during the quarter ended

June 30, 2021, a decrease of 3,287.

During the six months ended June 30, 2022, the Company incurred a net loss of $26,110, compared to

a net loss of $30,657 during the six months ended June 30, 2021, a decrease of $4,547.

The decrease in net loss in the three and six

months ended June 30, 2022 was primarily due to the decrease in operating expenses.

the three months ended September 30, 2022, the Company incurred a net loss of $9,925, compared to a net loss of $13,107 during the three

months ended September 30, 2021, a decrease of 3,182.

During the nine months ended September 30, 2022, the Company incurred a net loss

of $36,035, compared to a net loss of $43,764 during the nine months ended September 30, 2021, a decrease of $7,729.

The decrease in

net loss in the three and nine months ended September 30, 2022 was primarily due to the decrease in operating expenses.

and Capital Resources

of June 30, 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.

of September 30, 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

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, 2022 and 2021.

neither generated nor used cash in investing activities during the six months ended June 30, 2022 and 2021.

neither generated nor used cash in financing activities during the six months ended June 30, 2022 and 2021.

cash used in operating activities was $0 during the nine months ended September 30, 2022 and 2021.

neither generated nor used cash in investing activities during the nine months ended September 30, 2022 and 2021.

neither generated nor used cash in financing activities during the nine months ended September 30, 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 $26,110 and $30,657 for the six months ended June 30, 2022 and 2021, respectively,

and have a working capital deficit of $79,286 as of June 30, 2022, in addition to a stockholders’ deficit of $79,286, which raise

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

financial statements, we have incurred net losses of $36,035 and $43,764 for the nine months ended September 30, 2022 and 2021, respectively,

and have a working capital deficit of $89,211 as of September 30, 2022, in addition to a stockholders’ deficit of $89,211, 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