What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2024-05-28 compared with 2023-11-13 · 72 added, 91 removed, 342 unchanged (32% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

September 30,

LIABILITIES AND STOCKHOLDERS’ DEFICIT

7 unchanged sentences

5,000,000 shares authorized;

$ 0.001 par value 5,000,000 issued and outstanding at September 30, 2023 and

December 31, 2022

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

March 31, 2024 and December 31, 2023

Common stock:

250,000,000 shares authorized;

$ 0.001 par value 74,640,766 shares issued and outstanding at September 30, 2023 and

December 31, 2022

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

outstanding at March 31, 2024 and December 31, 2023

Additional Paid-in Capital

4 unchanged sentences

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT

accompanying notes are an integral part of these financial statements.

accompanying notes are an integral part of these unaudited financial statements.

YUAN HOLDING GROUP

OF OPERATIONS

and administrative

Three Months Ended

Operating Expenses

Income and Expense

for income taxes

and dilutive net loss per common share

average number of common shares outstanding - basic and diluted

accompanying notes are an integral part of these financial statements.

General and administrative

Professional fees

Total Operating Expenses

Operating loss

Other Income and Expense

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 unaudited financial statements.

YUAN HOLDING GROUP

8 unchanged sentences

$ ( 151,244 )

Balance – June 30, 2023

$ ( 97,398,454 )

$ ( 132,777 )

Balance – September 30, 2023

Balance – March 31 , 2024

$ ( 97,432,310 )

7 unchanged sentences

$ ( 97,377,201 )

Balance – June 30, 2022

$ ( 111,524 )

$ ( 97,377,201 )

Balance – September 30, 2022

$ ( 111,524 )

Balance – March 31, 2023

$ ( 97,389,223 )

accompanying notes are an integral part of these financial statements.

$ ( 123,546 )

$ ( 97,389,223 )

$ ( 123,546 )

accompanying notes are an integral part of these unaudited financial statements.

YUAN HOLDING GROUP

OF CASH FLOWS

FLOWS FROM OPERATING ACTIVITIES

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

in operating assets and liabilities:

payable and accrued liabilities

to related party

Cash Used in Operating Activities

FLOWS FROM INVESTING ACTIVITIES

FLOWS FROM FINANCING ACTIVITIES

change in cash and cash equivalents for the year

and cash equivalents at beginning of the year

and cash equivalents at end of the year

CASH FLOW INFORMATION:

paid for income taxes

paid for interest

accompanying notes are an integral part of these financial statements.

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:

Cash paid for income taxes

Cash paid for interest

accompanying notes are an integral part of these unaudited financial statements.

YUAN HOLDING GROUP

45 unchanged sentences

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 .

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

shares of the Series A-1 Preferred stock valued

at $ 5,000 to Custodian Ventures LLC as repayment funds loaned to the Company.

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.

change of control of the Company was completed on November 3, 2020, control was obtained by the sale of 50,000,000 common shares and

44 unchanged sentences

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.

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 nine months ended September 30, 2023 and 2022, as there are no potential shares outstanding that would have a dilutive effect.

the three months ended March 31, 2024 and 2023, 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, 2023 and December 31, 2022.

its deferred tax assets as of March 31, 2024 and December 31, 2023.

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, 2023, the Company’s current majority shareholder advanced $ 30,790 to the Company as working

As of September 30, 2023 and December 31, 2022, the Company owed its current majority shareholders of $ 140,481 and $ 109,691 ,

respectively.

the three months ended March 31, 2024, the Company’s current majority shareholder advanced $ 16,125 to the Company as working capital.

As of March 31, 2024 and December 31, 2023, the Company owed its current majority shareholders of $ 166,300 and $ 150,175 , respectively.

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

5 – Common stock

September 30, 2023, the Company is authorized to issue 250,000,000 shares of $ 0.001 par value common stock.

of September 30, 2023, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

March 31, 2024, the Company is authorized to issue 250,000,000 shares of $ 0.001 par value common stock.

of March 31, 2024, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

of September 30, 2023, 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, 2024, 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, 2023, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of March 31, 2024, 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, 2023 and 2022, the Company had no unrecognized tax

benefits and related interest and penalties expenses.

For the three months ended March 31, 2024 and 2023, 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, 2023, we had an accumulated deficit of $97,408,620 and a net working capital deficit of $142,943.

As of March 31, 2024, we had an accumulated deficit of $97,432,310 and a net working capital deficit of $166,633.

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, 2023 and December 31, 2022, no allowance for doubtful accounts

The Company has no accounts receivables and therefore as of March 31, 2024 and December 31, 2023, no allowance for doubtful accounts

is necessary.

7 unchanged sentences

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

of Operations for the Three and Nine Months Ended September 30, 2023 compared to the Three and Nine Months Ended September 30, 2022

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

After the change of control on November 3, 2020, the Company’s

operations are determined and structured by the new major shareholder.

the three and nine months ended September 30, 2023 and 2022, we generated no revenues.

expenses, during the quarter ended September 30, 2023, was $10,166 compared to $9,925 during the quarter ended September 30, 2022, an

increase of $241 or 2.4%.

of Operations for the Three Months Ended March 31, 2024 compared to the Three Months Ended March 31, 2023

the three months ended March 31, 2024 and 2023, we generated no revenues.

expenses, during the three months ended March 31, 2024, was $15,389 compared to $12,022 during the three months ended March 31, 2023,

an increase of $3,367 or 28%.

The increase was mainly due to the higher professional fees.

Operating expenses, during the nine months ended

September 30, 2023, was $31,419 compared to $36,035 during the nine months ended September 30, 2022, a decrease of $4,616 or 12.8%.

decrease was mainly due to the lower general and administrative expenses, partly offset by slightly higher professional fees.

the quarter ended September 30, 2023, the Company incurred a net loss of $10,166, compared to a net loss of $9,925 during the quarter

ended September 30, 2022, an increase of $240.

The increase in net loss in the quarter ended September 30, 2023 was primarily due to

the increase in operating expenses.

During the nine months ended September 30, 2023, the Company incurred a net loss of $31,419, compared

to a net loss of $36,035 during the nine months ended September 30, 2022, a decrease of $4,616.

The decrease in net loss in the nine

months ended September 30, 2023 was primarily due to the decrease in operating expenses.

the three months ended March 31, 2024, the Company incurred a net loss of $15,389, compared to a net loss of $12,022 during the three

months ended March 31, 2023, an increase of $3,367.

The increase in net loss in the three months ended March 31, 2024 was primarily due

to the increase in operating expenses.

and Capital Resources

of September 30, 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.

of March 31, 2024 and December 31, 2023, 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

6 unchanged sentences

would favorably entertain funding, through loans, corporate expenses for approximately 24 months.

Any loans by Ms.

Any loans by Mr.

Xudong would be on

an interest-free basis, documented by a promissory note and payable only upon consummation of a business combination transaction.

consummation of a business combination, we or the target may reimburse Ms.

consummation of a business combination, we or the target may reimburse Mr.

Xudong for any such loans from funds furnished by the target.

We have no written agreement with Ms.

We have no written agreement with Mr.

Xudong to advance any further funds for future operating expense, therefore there is no assurance

that such funds from Ms.

that such funds from Mr.

Xudong will be forth coming, if required.

6 unchanged sentences

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

neither generated nor used cash in operating activities during the nine months ended September 30, 2023 and 2022.

neither generated nor used cash in investing activities during the nine months ended September 30, 2023 and 2022.

neither generated nor used cash in financing activities during the nine months ended September 30, 2023 and 2022.

neither generated nor used cash in operating activities during the three months ended March 31, 2024 and 2023.

neither generated nor used cash in investing activities during the three months ended March 31, 2024 and 2023.

neither generated nor used cash in financing activities during the three months ended March 31, 2024 and 2023.

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 $31,419 and $36,035 for the nine months ended September 30, 2023 and 2022, respectively,

and have a working capital deficit of $142,943 as of September 30, 2023, in addition to a stockholders’ deficit of $142,943 which

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

financial statements, we have incurred net losses of $15,389 and $12,022 for the three months ended March 31, 2024 and 2023, respectively,

and have a working capital deficit of $166,633 as of March 31, 2024, in addition to a stockholders’ deficit of $166,633 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