What changed in this filing

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Item 1. Financial Statements

2024-08-14 compared with 2024-05-28 · 52 added, 34 removed, 380 unchanged (18% of the section changed)

1 unchanged sentence

YUAN HOLDING GROUP

June 30, 2024

December 31, 2023

LIABILITIES AND STOCKHOLDERS’ DEFICIT

7 unchanged sentences

5,000,000 shares authorized;

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

March 31, 2024 and December 31, 2023

$ 0.001 par value 5,000,000 issued and outstanding at June 30, 2024 and December 31, 2023

Common stock:

250,000,000 shares authorized;

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

outstanding at March 31, 2024 and December 31, 2023

$ 0.001 par value 74,640,766 shares issued and outstanding at June 30, 2024 and December 31, 2023 respectively.

Additional Paid-in Capital

8 unchanged sentences

Three Months Ended

Six Months Ended

Operating Expenses

18 unchanged sentences

$ ( 151,244 )

Net loss for the period ended

Balance – March 31 , 2024

1 unchanged sentence

$ ( 166,633 )

Net loss for the period ended

Balance – June 30 , 2024

$ ( 97,442,615 )

$ ( 176,938 )

Common Stock:

6 unchanged sentences

$ ( 111,524 )

Net loss for the period ended

Balance – March 31, 2023

$ ( 97,389,223 )

$ ( 123,546 )

Balance – March 31, 2023

$ ( 97,389,223 )

$ ( 123,546 )

Net loss for the period ended

Balance – June 30, 2023

$ ( 97,398,454 )

$ ( 132,777 )

$ ( 97,398,454 )

$ ( 132,777 )

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

1 unchanged sentence

OF CASH FLOWS

Three Months Ended

Six Months Ended

CASH FLOWS FROM OPERATING ACTIVITIES

123 unchanged sentences

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

the three months ended March 31, 2024 and 2023, as there are no potential shares outstanding that would have a dilutive effect.

the six months ended June 30, 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 March 31, 2024 and December 31, 2023.

its deferred tax assets as of June 30, 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 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 six months ended June 30, 2024, the Company’s current majority shareholder advanced $ 20,280 to the Company as working capital.

As of June 30, 2024 and December 31, 2023, the Company owed its current majority shareholders of $ 170,455 and $ 150,175 , respectively.

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

5 – Common stock

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.

June 30, 2024, the Company is authorized to issue 250,000,000 shares of $ 0.001 par value common stock.

of June 30, 2024, a total of 74,640,766 shares of common stock with par value $ 0.001 remain outstanding.

6 – Preferred stock

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.

of June 30, 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 March 31, 2024, the Company has an insufficient history to support the likelihood of ultimate realization of the benefit associated

of June 30, 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 three months ended March 31, 2024 and 2023, the Company had no unrecognized tax benefits

For the six months ended June 30, 2024 and 2023, the Company had no unrecognized tax benefits

and related interest and penalties expenses.

41 unchanged sentences

Our independent accountants have expressed a “going concern”

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

As of June 30, 2024, we had an accumulated deficit of $97,442,615 and a net working capital deficit of $176,938.

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 March 31, 2024 and December 31, 2023, no allowance for doubtful accounts

is necessary.

The Company has no accounts receivables and therefore as of June 30, 2024 and December 31, 2023, no allowance for doubtful accounts is

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 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%.

of Operations for the Three and Six Months Ended June 30, 2024 compared to the Three and Six Months Ended June 30, 2023

the three and six months ended June 30, 2024 and 2023, we generated no revenues.

expenses, during the quarter ended June 30, 2024, was $10,305 compared to $9,231 during the quarter ended June 30, 2023, an increase

of $1,074 or 11.6%.

The increase was mainly due to the higher professional fees.

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.

Operating expenses, during the six months ended June

30, 2024, was $25,694 compared to $21,253 during the six months ended June 30, 2023, an increase of $4,441 or 20.9%.

The increase was

mainly due to the higher professional fees.

the quarter ended June 30, 2024, the Company incurred a net loss of $10,305, compared to a net loss of $9,231 during the quarter ended

June 30, 2023, an increase of $1,074.

The increase in net loss in the quarter ended June 30, 2024 was primarily due to the increase in

operating expenses.

During the six months ended June 30, 2024, the Company incurred a net loss of $25,694, compared to a net loss of

$21,253 during the six months ended June 30, 2023, an increase of $4,441.

The increase in net loss in the six months ended June 30, 2024

was primarily due to the increase in operating expenses.

and Capital Resources

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.

of June 30, 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

22 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 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.

neither generated nor used cash in operating activities during the six months ended June 30, 2024 and 2023.

neither generated nor used cash in investing activities during the six months ended June 30, 2024 and 2023.

neither generated nor used cash in financing activities during the six months ended June 30, 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 $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

financial statements, we have incurred net losses of $25,694 and $21,253 for the six months ended June 30, 2024 and 2023, respectively,

and have a working capital deficit of $176,938 as of June 30, 2024, in addition to a stockholders’ deficit of $176,938 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