What changed in this filing

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Item 1. Financial Statements

2023-05-15 compared with 2022-11-14 · 68 added, 83 removed, 352 unchanged (30% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

September 30,

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, 2022 and December 31, 2021

$ 0.001 par value 5,000,000 issued and outstanding at March 31, 2023 and December 31, 2022

Common stock:

250,000,000 shares authorized;

$ 0.001 par value 74,640,766

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

$ 0.001 par value 74,640,460 shares issued and outstanding at March 31, 2023 and

December 31, 2022

Additional Paid-in Capital

3 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

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

Paid-in Capital

Common Stock:

Preferred Stock:

Additional Paid-in Capital

Balance – December 31.

$ ( 97,377,201 )

Balance – June 30, 2022

$ ( 111,524 )

Balance – September

Balance – March 31, 2023

$ ( 97,389,223 )

Paid-in Capital

Balance – December 31.

$ ( 123,546 )

Cancellation of common stock

Balance – June 30, 2021

Common Stock:

Preferred Stock:

Additional Paid-in Capital

Balance – December 31.

$ ( 97,318,853 )

Beginning balance

$ ( 97,318,853 )

Balance – September

Balance – March 31, 2022

$ ( 97,338,353 )

3 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:

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

Due to 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

Cash paid for income taxes

Cash paid for interest

accompanying notes are an integral part of these financial statements.

117 unchanged sentences

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

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

the three months ended March 31, 2023 and 2022, 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, 2022 and December 31, 2021.

its deferred tax assets as of March 31, 2023 and December 31, 2022.

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 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 three months ended March 31, 2023, the Company’s current majority shareholder advanced $ 13,555 to the Company as working capital.

As of March 31, 2023 and December 31, 2022, the Company owed its current majority shareholders of $ 123,246 and $ 109,691 , 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, 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

of common stock.

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

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.

March 31, 2023, the Company is authorized to issue 250,000,000 shares of $ 0.001 par value common stock.

of March 31, 2023, a total of 74,640,460 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

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.

of March 31, 2023, 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 September 30, 2022, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of March 31, 2023, 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 nine months ended September 30, 2022 and 2021, the Company had no unrecognized tax

benefits and related interest and penalties expenses.

For the three months ended March 31, 2023 and 2022, 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 September 30, 2022, we had an accumulated deficit of $97,354,888 and a net working capital deficit of $89,211.

As of March 31, 2023, we had an accumulated deficit of $97,389,223 and a net working capital deficit of $123,546.

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 September 30, 2022 and 2021, no allowance for doubtful accounts is necessary.

The Company has no accounts receivables and therefore as of March 31, 2023 and December 31, 2022, 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, 2022 compared to the Three and Nine Months Ended September 30, 2021

of Operations for the Three Months Ended March 31, 2023 compared to the Three Months Ended March 31, 2022

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, 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,

the three months ended March 31, 2023 and 2022, we generated no revenues.

expenses, during the three months ended March 31, 2023, was $12,022 compared to $19,500 during the three months ended March 31, 2022,

a decrease of $7,478 or 38%.

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 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.

The decrease was mainly due to the lower general & administrative expenses and professional fees.

the three months ended March 31, 2023, the Company incurred a net loss of $12,022, compared to a net loss of $19,500 during the three

months ended March 31, 2022, a decrease of $7,478.

The decrease in net loss in the three months ended March 31, 2023 was primarily due

to the decrease in operating expenses.

and Capital Resources

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.

of March 31, 2023 and December 31, 2022, 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 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.

cash used in operating activities was $0 during the three months ended March 31, 2023 and 2022.

neither generated nor used cash in investing activities during the three months ended March 31, 2023 and 2022.

neither generated nor used cash in financing activities during the three months ended March 31, 2023 and 2022.

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 $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

financial statements, we have incurred net losses of $12,022 and $19,500 for the three months ended March 31, 2023 and 2022, respectively,

and have a working capital deficit of $123,546 as of March 31, 2023, in addition to a stockholders’ deficit of $123,546, which

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

23 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