What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2024-11-15 compared with 2024-08-21 · 614 added, 367 removed, 68 unchanged (94% of the section changed)

Financial Statements

TECHNOLOGY HOLDINGS INC

CONSOLIDATED BALANCE SHEETS

shown in U.S.

Current assets:

and cash equivalents

receivable- non related parties, net

NEXT TECHNOLOGY HOLDINGS INC

CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts shown in U.S.

September 30,

Current assets:

in associate company

AND STOCKHOLDERS’ EQUITY

due to related parties

tax liabilities

Cash and cash equivalents

Digital assets

Accounts receivable-third parties, net

Amount due from related parties

Total current assets

Non-current assets:

Investment in associate company

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Stockholders’

Account payables

Amount due to related parties

Other payables

Total current liabilities

Non-current liabilities:

Deferred tax liabilities

Total liabilities

Stockholders’ equity:

Common stock;

no par value;

6,976,410 issued and outstanding at June 30, 2024 and December 31, 2023 respectively

paid in capital

other comprehensive loss

profit/(deficits)

6,976,410 and 2,625,130 issued and outstanding at September 30, 2024 and December 31, 2023 respectively

Retained Earnings /(Accumulated Deficits)

( 11,640,274 )

stockholders’ equity

liabilities and stockholders’ equity

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

TECHNOLOGY HOLDINGS INC

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

Months End June 30,

Months Ended June 30,

Total stockholders’ equity

Total liabilities and stockholders’ equity

The accompanying notes are an integral part

of these unaudited condensed consolidated financial statements.

NEXT TECHNOLOGY HOLDINGS INC

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

September 30,

Service revenue

General and administrative

Total service revenue

Cost of revenue

Operating expenses

from operations

Other income/(loss)

General and administrative expense

( 1,242,128 )

Profit/ (loss) before

Total operating expenses

( 1,242,128 )

tax income/(expenses)

(Loss)/ Profit from operations

( 1,242,128 )

profit/ (loss) from continuing operation

Other income/(loss)

( 14,406,397 )

( 14,406,396 )

Profit/ (loss) before income taxes

( 13,412,061 )

Net profit/ (loss) from

discontinued operation

( 13,714,836 )

Comprehensive

profit/ (loss)

Income tax expenses

( 2,666,078 )

Net profit/ (loss) from continuing operation

$ ( 13,412,061 )

$ ( 13,714,836 )

Other comprehensive income

currency translation adjustment

comprehensive profit/ (loss)

Net profit/ (loss) from discontinued operation

( 1,552,178 )

Total comprehensive profit/ (loss)

$ ( 13,110,669 )

$ ( 15,267,014 )

Profit /(Loss) per share, basic and diluted from continuing operation

Profit /(Loss) per share, basic and diluted from discontinued operation

Earnings /(Loss) per share, basic and diluted from continuing operation

Earnings /(Loss) per share, basic and diluted from discontinued operation

Weighted-average shares outstanding, basic and diluted

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

TECHNOLOGY HOLDINGS INC

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

months ended June 30, 2024

Comprehensive

as of March 31, 2024

issued during the period

currency translation adjustment

profit for the period

$ ( 6,916,679 )

The accompanying notes are an integral part

of these unaudited condensed consolidated financial statements.

NEXT TECHNOLOGY HOLDINGS INC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES

IN STOCKHOLDERS’ EQUITY

Three months ended September 30, 2024

Balance as of June 30, 2024

Net profit for the period

Gain from discontinued operation

Balance as of September 30, 2024

Nine months ended September 30, 2024

Balance as of December 31, 2023

$ ( 11,640,274 )

as of June 30, 2024

months ended June 30, 2024

Comprehensive

as of December 31, 2023

Stock issued during the period

Net profit for the period

Gain from discontinued operation

Balance as of September 30, 2024

Three months ended September 30, 2023

Balance as of June 30, 2023

$ ( 3,871,203 )

issued during the period

currency translation adjustment

profit for the period

as of June 30, 2024

months ended June 30, 2023

Balance as of March 31, 2023

Loss from discontinued operation

Stock issued during the period

Gain from discontinued operation

Net loss for the period

Balance as of June 30, 2023

months ended June 30, 2023

( 13,412,061 )

Balance as of September 30, 2023

$ ( 16,981,872 )

Nine months ended September 30, 2023

Comprehensive

of December 31, 2022

Balance as of December 31, 2022

$ ( 1,714,858 )

$ ( 310,576 )

currency translation adjustment

from discontinued operation

Stock issued during the period

Foreign currency translation adjustment

Loss from discontinued operation

( 1,552,178 )

loss for the period

Net loss for the period

( 13,714,836 )

as of June 30, 2023

Balance as of September 30, 2023

$ ( 16,981,872 )

accompanying notes are an integral part of these unaudited condensed consolidated f inancial statements.

TECHNOLOGY HOLDINGS INC

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Six months Ended

The accompanying notes are an integral part

of these unaudited condensed consolidated f inancial statements.

NEXT TECHNOLOGY HOLDINGS INC

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine months Ended

September 30,

Cash flows from operating activities:

Net Profit/ (loss)

Gain from digital assets

Loss from discontinued operation

$ ( 13,714,836 )

Fair value (gain)/loss from digital assets

( 17,899,568 )

Gain/ (loss) from discontinued operation

( 1,552,178 )

Changes in operating assets and liabilities:

5 unchanged sentences

Deferred tax liabilities

Asset related to discontinued operation

Net cash flows used in operating activities

Net cash flows used in continued operating activities

( 11,886,808 )

Net cash flows used in discontinued operating activities

Net cash flows (used in)/ provided by operating activities

Cash flow from Investing activities:

Prepayment for digital assets

( 12,125,500 )

Digital assets

( 24,990,000 )

Net cash flows used in investing activities

( 37,115,500 )

Cash flow from financing activities:

Shareholders’ loan

Proceeds from stock issuances

Net cash flows from financing activities

Net cash flows from discontinued activities

Net cash flows provided by financing activities

6 unchanged sentences

Cash paid for taxes

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

TECHNOLOGY HOLDINGS INC

TO CONSOLIDATED FINANCIAL STATEMENTS

1 – NATURE OF BUSINESS

Technology Holdings Inc (Formerly known as WeTrade Group, Inc) was incorporated in the State of Wyoming on March 28, 2019.

pursue two corporate strategies.

One business strategy is to continue providing software development services, and the other strategy

is to acquire and hold bitcoin.

provide AI-enabled software development services to our customers, which included developing, designing, and implementing various SAAS

software solutions for businesses of all types, including industrial and other businesses.

Acquisition Strategy

bitcoin acquisition strategy generally involves acquiring bitcoin with our liquid assets that exceed working capital requirements, and

from time to time, subject to market conditions, issuing debt or equity securities or engaging in other capital raising transactions

with the objective of using the proceeds to purchase bitcoin.

view our bitcoin holdings as long-term holdings and expect to continue to accumulate bitcoin.

We have not set any specific target for

the amount of bitcoin we seek to hold, and we will continue to monitor market conditions in determining whether to engage in additional

financings to purchase additional bitcoin.

overall strategy also contemplates that we may (i) periodically sell bitcoin for general corporate purposes, including to generate cash

for treasury management or in connection with strategies that generate tax benefits in accordance with applicable law, (ii) enter into

additional capital raising transactions that are collateralized by our bitcoin holdings, and (iii) consider pursuing additional strategies

to create income streams or otherwise generate funds using our bitcoin holdings.

believe that, due to its limited supply, bitcoin offers the opportunity for appreciation in value if its adoption increases and has the

potential to serve as a hedge against inflation in the long-term.

The following

table presents a roll-forward of our bitcoin holdings, including additional information related to our bitcoin purchases, and digital

asset impairment losses during the period:

original cost basis

The accompanying notes are an integral part

of these unaudited condensed consolidated financial statements.

NEXT TECHNOLOGY HOLDINGS INC

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 – NATURE OF BUSINESS

Next Technology Holdings Inc (Formerly known as

WeTrade Group, Inc) was incorporated in the State of Wyoming on March 28, 2019 .

We currently pursue two corporate strategies.

strategy is to continue providing software development services, and the other strategy is to acquire and hold bitcoin.

Software development

We provide AI-enabled software development services

to our customers, which included developing, designing, and implementing various SAAS software solutions for businesses of all types,

including industrial and other businesses.

Bitcoin Acquisition Strategy

Our bitcoin acquisition strategy generally involves

acquiring bitcoin with our liquid assets that exceed working capital requirements, and from time to time, subject to market conditions,

issuing debt or equity securities or engaging in other capital raising transactions with the objective of using the proceeds to purchase

We view our bitcoin holdings as long-term holdings

and expect to continue to accumulate bitcoin.

We have not set any specific target for the amount of bitcoin we seek to hold, and we will

continue to monitor market conditions in determining whether to engage in additional financings to purchase additional bitcoin.

This overall strategy also contemplates that we

may (i) periodically sell bitcoin for general corporate purposes, including to generate cash for treasury management or in connection

with strategies that generate tax benefits in accordance with applicable law, (ii) enter into additional capital raising transactions

that are collateralized by our bitcoin holdings, and (iii) consider pursuing additional strategies to create income streams or otherwise

generate funds using our bitcoin holdings.

We believe that, due to its limited supply, bitcoin

offers the opportunity for appreciation in value if its adoption increases and has the potential to serve as a hedge against inflation

in the long-term.

The following table presents a roll-forward of

our bitcoin holdings, including additional information related to our bitcoin purchases, and digital asset impairment losses during the

Digital asset

at December 31, 2023

original cost

digital asset

Balance at December 31, 2023

Digital asset purchase

Fair value change during

Balance at June 30,

2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

of Preparation of Financial Statements

condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United

States of America (“GAAP”).

The condensed consolidated financial statements include the financial statements of the Company

and its subsidiaries.

All significant inter-company transactions and balances have been eliminated in consolidation.

condensed consolidated financial statements of the Company as of and for the six months ended June 30, 2024 and 2023 are unaudited.

the opinion of management, all adjustments (including normal recurring adjustments) that have been made are necessary to fairly present

the financial position of the Company as of June 30, 2024, the results of its operations for the six months ended June 30, 2024 and 2023,

and its cash flows for the six months ended June 30, 2024 and 2023.

Operating results for the quarterly periods presented are not necessarily

indicative of the results to be expected for a full fiscal year.

statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the

Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance

GAAP have been omitted pursuant to such rules and regulations.

These financial statements should be read in conjunction with

the financial statements and other information included in the Company’s Annual Report on Form 10-K as filed with the SEC for the

fiscal year ended December 31, 2023.

Company follows the guidance of Accounting Standards Codification (ASC) 606, Revenue from Contracts .

ASC 606 creates a five-step

model that requires entities to exercise judgment when considering the terms of contracts, which includes (1) identifying the contracts

or agreements with a customer, (2) identifying our performance obligations in the contract or agreement, (3) determining the transaction

price, (4) allocating the transaction price to the separate performance obligations, and (5) recognizing revenue as each performance

obligation is satisfied.

The Company only applies the five-step model to contracts when it is probable that the Company will collect

the consideration it is entitled to in exchange for the services it transfers to its clients.

Company accounts for its digital assets, which are comprised solely of bitcoin, as indefinite-lived intangible assets in accordance with

Accounting Standards Codification (“ASC”) 350, Intangibles—Goodwill and Other.

The Company’s digital assets are

initially recorded at cost.

Subsequently, they are measured at cost, net of any impairment losses incurred since acquisition.

losses are recognized as “Digital asset impairment losses” in the Company’s Consolidated Statement of Operations in

the period in which the impairment occurs.

Gains (if any) are not recorded until realized upon sale, at which point they are presented

net of any impairment losses in the Company’s Consolidated Statements of Operations.

In determining the gain to be recognized upon

sale, the Company calculates the difference between the sales price and carrying value of the specific bitcoins sold immediately prior

following table summarizes the Company’s digital asset holdings as of:

Approximate number of bitcoins

Fair value change during the period

Balance at September 30, 2024

NOTE 2 – SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES

Basis of Preparation of Financial Statements

The condensed consolidated financial statements

have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”).

condensed consolidated financial statements include the financial statements of the Company and its subsidiaries.

All significant inter-company

transactions and balances have been eliminated in consolidation.

The condensed consolidated financial statements

of the Company as of and for the nine months ended September 30, 2024 and 2023 are unaudited.

In the opinion of management, all adjustments

(including normal recurring adjustments) that have been made are necessary to fairly present the financial position of the Company as

of September 30, 2024, the results of its operations for the nine months ended September 30, 2024 and 2023, and its cash flows for the

nine months ended September 30, 2024 and 2023.

Operating results for the quarterly periods presented are not necessarily indicative of

the results to be expected for a full fiscal year.

The statements and related notes have been prepared

pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”).

Accordingly, certain information

and footnote disclosures normally included in financial statements prepared in accordance with U.S.

GAAP have been omitted pursuant to

such rules and regulations.

These financial statements should be read in conjunction with the financial statements and other information

included in the Company’s Annual Report on Form 10-K as filed with the SEC for the fiscal year ended December 31, 2023.

Revenue recognition

The Company follows the guidance of Accounting

Standards Codification (ASC) 606, Revenue from Contracts .

ASC 606 creates a five-step model that requires entities to exercise

judgment when considering the terms of contracts, which includes (1) identifying the contracts or agreements with a customer, (2) identifying

our performance obligations in the contract or agreement, (3) determining the transaction price, (4) allocating the transaction price

to the separate performance obligations, and (5) recognizing revenue as each performance obligation is satisfied.

The Company only applies

the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for

the services it transfers to its clients.

Goodwill and Other - Crypto Assets

In December 2023, the FASB issued ASU 2023-08,

Intangibles - Goodwill and Other - Crypto Assets (Subtopic 350-60):

Accounting for and Disclosure of Crypto Assets, which establishes

accounting guidance for crypto assets meeting certain criteria.

Bitcoin meets this criteria.

The amendments require crypto assets meeting

the criteria to be recognized at fair value with changes recognized in net income each reporting period.

Upon adoption, a cumulative-effect

adjustment is made to the opening balance of retained earnings as of the beginning of the annual reporting period of adoption.

is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years.

Early adoption is

The Company has early applied ASU 2023-08 and measured crypto assets (presented as digital assets) at fair value with changes

recognized in net income this period.

The following table summarizes the Company’s

digital asset holdings as of:

September 30,

Approximate number of bitcoins held

Digital assets carrying value

Gain on digital assets during the period/

of June 30, 2024, approximately 833.19 of the bitcoins held by the Company, which had a carrying value of approximately $ 50.7 million

on the Company’s Consolidated Balance Sheets as of June 30, 2024 .

Cash Equivalents

Company considers all highly liquid debt instruments purchased with a maturity period of three months or less to be cash or cash equivalents.

The carrying amounts reported in the accompanying unaudited condensed consolidated balance sheets for cash and cash equivalents approximate

their fair value.

All of the Company’s cash that is held in bank accounts in Hong Kong and PRC are not protected by Federal Deposit

Insurance Corporation (“FDIC”) insurance.

Company’s principal country of operations is the PRC.

The accompanying condensed consolidated financial statements are presented

The functional currency of the Company is US$, and the functional currency of the Company’s subsidiaries is RMB.

The condensed

consolidated financial statements are translated into US$ from RMB at year-end exchange rates as to assets and liabilities and average

exchange rates as to revenues and expenses.

Capital accounts are translated at their historical exchange rates when the capital transactions

The resulting translation adjustments are recorded as a component of shareholders’ equity included in other comprehensive

Gains and losses from foreign currency transactions are included in profit or loss.

There were no gains and losses from foreign

currency transactions from the inception to June 30, 2024.

US$ exchange rate

balance sheet amounts, with the exception of equity, June 30, 2024 and December 31, 2023 were translated at 7.22 RMB and 7.09 RMB to

US$1.00, respectively.

The equity accounts were stated at their historical rates.

The average translation rates applied to statements

of operations and comprehensive income accounts for the period ended June 30, 2024 and year ended December 31, 2023 were 7.18 RMB and

7.08 RMB to US$1.00, respectively.

Cash flows were also translated at average translation rates for the year and, therefore, amounts

reported on the statement of cash flows would not necessarily agree with changes in the corresponding balances on the condensed consolidated

balance sheet.

Gain on digital assets during the period/ year

As of September 30, 2024, the Company had approximately

833 bitcoins which had a carrying value of approximately $ 53.04 million.

Cash and Cash Equivalents

The Company considers all highly liquid debt instruments

purchased with a maturity period of three months or less to be cash or cash equivalents.

The carrying amounts reported in the accompanying

unaudited condensed consolidated balance sheets for cash and cash equivalents approximate their fair value.

All of the Company’s

cash that is held in bank accounts in Hong Kong and PRC are not protected by Federal Deposit Insurance Corporation (“FDIC”)

Functional Currency

The Company’s principal country of operations are in USA and

The accompanying condensed consolidated financial statements are presented in US$ and the functional currency of the Company

Investment in associate company that we have significant influence

but do not have control over the investee are accounted for under the equity method.

We will periodically review the investment for impairment.

The initial measurement and periodic subsequent adjustments of the investment are calculated by applying the ownership percentage to the

net assets or equity of the partially owned entity under ASC 323.

Consolidation

Company’s condensed consolidated financial statements include the financial statements of the Group and subsidiaries.

All transactions

and balances among the Group and its subsidiaries have been eliminated upon consolidation.

preparation of financial statements in conformity with US GAAP requires management to make judgement estimates and assumptions that affect

the amounts reported in the condensed consolidated financial statements and accompanying notes.

Management believes that the estimates

used in preparing the financial statements are reasonable and prudent;

The Company’s condensed consolidated financial

statements include the financial statements of the Group and subsidiaries.

All transactions and balances among the Group and its subsidiaries

have been eliminated upon consolidation.

Use of Estimates

The preparation of financial statements in conformity

with US GAAP requires management to make judgement estimates and assumptions that affect the amounts reported in the condensed consolidated

financial statements and accompanying notes.

Management believes that the estimates used in preparing the financial statements are reasonable

however, actual results could differ from these estimates.

accounting estimates include the allowance for doubtful accounts, useful lives of intangible asset, valuation of deferred tax assets,

and certain accrued liabilities such as contingent liabilities.

receivables are presented net of allowance for doubtful accounts.

The Company uses specific identification in providing for bad debts

when facts and circumstances indicate that collection is doubtful and based on factors listed in the following paragraph.

If the financial

conditions of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may

Company maintains an allowance for doubtful accounts which reflects its best estimate of amounts that potentially will not be collected.

The Company determines the allowance for doubtful accounts on general basis taking into consideration various factors including but not

limited to historical collection experience and credit-worthiness of the customers as well as the age of the individual receivables balance.

Additionally, the Company makes specific bad debt provisions based on any specific knowledge the Company has acquired that might indicate

that an account is uncollectible.

The facts and circumstances of each account may require the Company to use substantial judgment in

assessing its collectability.

Company adopted Accounting Standards Update No.

2016-02, Leases (Topic 842) (ASU 2016-02), and generally requires lessees to recognize

operating and financing lease liabilities and corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures

surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements.

leases are included in operating lease right-of-use (“ROU”) assets and short-term and long-term lease liabilities in our

condensed consolidated balance sheets.

Finance leases are included in property and equipment, other current liabilities, and other long-term

liabilities in our condensed consolidated balance sheets.

assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s

obligation to make lease payments arising from the lease.

Operating lease ROU assets and liabilities are recognized at commencement date

based on the present value of lease payments over the lease term.

As most of the leases do not provide an implicit rate, we use the industry

incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

Significant accounting estimates include the allowance for expected

credit loss, valuation of deferred tax assets, and certain accrued liabilities such as contingent liabilities.

Accounts Receivable

Accounts receivables are presented net of allowance

for expected credit loss.

The Company uses specific identification in providing for bad debts when facts and circumstances indicate that

collection is doubtful and based on factors listed in the following paragraph.

If the financial conditions of its customers were to deteriorate,

resulting in an impairment of their ability to make payments, additional allowance may be required.

The Company maintains an allowance for expected

credit loss which reflects its best estimate of amounts that potentially will not be collected.

In determining the amount of the allowance

for credit losses, the Company considers historical collection history based on past due status, the current aging of receivables, customer-specific

credit risk factors including their current financial condition, current market conditions, and probable future economic conditions which

inform adjustments to historical loss patterns.

Additionally, the Company makes specific bad debt provisions based on any specific knowledge

the Company has acquired that might indicate that an account is uncollectible.

The facts and circumstances of each account may require

the Company to use substantial judgment in assessing its collectability.

The Company adopted Accounting Standards Update

2016-02, Leases (Topic 842) (ASU 2016-02), and generally requires lessees to recognize operating and financing lease liabilities and

corresponding right-of-use (ROU) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty

of cash flows arising from leasing arrangements.

Operating leases are included in operating lease

right-of-use (“ROU”) assets and short-term and long-term lease liabilities in our condensed consolidated balance sheets.

leases are included in property and equipment, other current liabilities, and other long-term liabilities in our condensed consolidated

balance sheets.

ROU assets represent the Company’s right

to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising

from the lease.

Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments

over the lease term.

As most of the leases do not provide an implicit rate, we use the industry incremental borrowing rate based on the

information available at commencement date in determining the present value of lease payments.

We use the implicit rate when readily determinable.

The operating lease ROU asset also includes any lease payments made and excludes

lease incentives.

The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise

Lease expense for lease payments is recognized on a straight-line basis over the lease term.

2016-02 requires that public companies use a secured incremental browning rate for the present value of lease payments when the rate

implicit in the contract is not readily determinable.

We determine a secured rate on a quarterly basis and update the weighted average

discount rate accordingly.

Development Costs

apply ASC 985-20, Software—Costs of Software to Be Sold, Leased, or Marketed, in analyzing our software development costs.

985-20 requires the capitalization of certain software development costs subsequent to the establishment of technological feasibility

for a software product in development.

Research and development costs associated with establishing technological feasibility are expensed

Based on our software development process, technological feasibility is established upon the completion of a working model.

In addition, we apply this to our review of development projects related to software used exclusively for our SaaS subscription offerings.

In these reviews, all costs incurred during the preliminary project stages are expensed as incurred.

Once the projects have been committed

to and it is probable that the projects will meet functional requirements, costs are capitalized.

taxes are determined in accordance with the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”).

this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the

financial statement carrying amounts of existing assets and liabilities and their respective tax basis.

Deferred tax assets and liabilities

are measured using enacted income tax rates expected to apply to taxable income in the periods in which those temporary differences are

expected to be recovered or settled.

Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income

in the period that includes the enactment date.

740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements

uncertain tax positions taken or expected to be taken on a tax return.

Under ASC 740, tax positions must initially be recognized in the

financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities.

positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50 % likelihood of

being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts.

Company has subsidiaries in Singapore and PRC.

The Company is subject to tax in Singapore and PRC jurisdictions.

As a result of its future

business activities, the Company will be required to file tax returns that are subject to examination by the Inland Revenue Authority

of Singapore and Tax Department of PRC.

(Loss) Per Share

net income per share of common stock attributable to common stockholders is calculated by dividing net income attributable to common

stockholders by the weighted-average shares of common stock outstanding for the period.

Potentially dilutive shares, which are based

on the weighted-average shares of common stock underlying outstanding stock-based awards, warrants, options, or convertible debt using

the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net income (loss) per share

of common stock attributable to common stockholders when their effect is dilutive.

dilutive securities are excluded from the calculation of diluted EPS in profit periods as their effect would be anti-dilutive.

of June 30, 2024, there were no potentially dilutive shares.

The operating lease ROU asset also includes any lease payments made and excludes lease incentives.

The lease terms may include options

to extend or terminate the lease when it is reasonably certain that we will exercise that option.

Lease expense for lease payments is

recognized on a straight-line basis over the lease term.

ASU 2016-02 requires that public companies use a secured incremental

browning rate for the present value of lease payments when the rate implicit in the contract is not readily determinable.

Software Development Costs

We apply ASC 985-20, Software—Costs of Software

to Be Sold, Leased, or Marketed, in analyzing our software development costs.

ASC 985-20 requires the capitalization of certain software

development costs subsequent to the establishment of technological feasibility for a software product in development.

Research and development

costs associated with establishing technological feasibility are expensed as incurred.

Based on our software development process, technological

feasibility is established upon the completion of a working model.

In addition, we apply this to our review of development projects related

to software used exclusively for our SaaS subscription offerings.

In these reviews, all costs incurred during the preliminary project

stages are expensed as incurred.

Once the projects have been committed to and it is probable that the projects will meet functional requirements,

costs are capitalized.

Income taxes are determined in accordance with

the provisions of ASC Topic 740, “Income Taxes” (“ASC Topic 740”).

Under this method, deferred tax assets and

liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts

of existing assets and liabilities and their respective tax basis.

Deferred tax assets and liabilities are measured using enacted income

tax rates expected to apply to taxable income in the periods in which those temporary differences are expected to be recovered or settled.

Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment

ASC 740 prescribes a comprehensive model for how

companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to

be taken on a tax return.

Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely

than not the position will be sustained upon examination by the tax authorities.

Such tax positions must initially and subsequently be

measured as the largest amount of tax benefit that has a greater than 50 % likelihood of being realized upon ultimate settlement with the

tax authority assuming full knowledge of the position and relevant facts.

The Company has subsidiaries in Hong Kong and

The Company is subject to tax in Hong Kong and PRC jurisdictions.

As a result of its future business activities, the Company will

be required to file tax returns that are subject to examination by the Inland Revenue Department of Hong Kong and Tax Department of PRC.

Earnings/ (Loss) Per Share

Earnings/ (loss) per share of common stock attributable

to common stockholders is calculated by dividing net income attributable to common stockholders by the weighted-average shares of common

stock outstanding for the period.

Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying

outstanding stock-based awards, warrants, options, or convertible debt using the treasury stock method or the if-converted method, as

applicable, are included when calculating diluted net income (loss) per share of common stock attributable to common stockholders when

their effect is dilutive.

Potential dilutive securities are excluded from

the calculation of diluted EPS in profit periods as their effect would be anti-dilutive.

As of September 30, 2024, there were no potentially

dilutive shares.

Three Months Ended

Nine Months Ended

September 30,

Statement of Operations Summary Information:

$ ( 302,775 )

Net Profit/ (Loss)

Weighted-average common shares outstanding - basic and diluted

Net Profit/ (loss) per share, basic and diluted

Value Measurements

Company follows guidance for accounting for fair value measurements of financial assets and financial liabilities and for fair value

measurements of nonfinancial items that are recognized or disclosed at fair value in the financial statements on a recurring basis.

Additionally,

the Company adopted guidance for fair value measurement related to non-financial items that are recognized and disclosed at fair value

in the financial statements on a non-recurring basis.

The guidance establishes a fair value hierarchy that prioritizes the inputs to

valuation techniques used to measure fair value.

hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements)

and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements).

The three levels of the fair

value hierarchy are as follows:

1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access

at the measurement date.

2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly

or indirectly.

3 inputs are unobservable inputs for the asset or liability.

The carrying amounts of financial assets such as cash approximate their

fair values because of the short maturity of these instruments.

3 – RECENT ACCOUNTING PRONOUNCEMENTS

accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) and the United States Securities and Exchange

Commission did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

are in the business of providing AI-enabled software development services for industrial and other customers.

of and for the period ended June 30, 2024, there were no revenue were generated in SAAS business during the period.

5 – CASH AND CASH EQUIVALENTS

of June 30, 2024, the Company held cash in bank in the amount of $ 668,387 , which consist of the following:

Deposits- Outside USA

6 – DIGITAL ASSETS

of June 30, 2024, digital assets holdings are as follow:

Earnings/ (loss) per share, basic and diluted

Fair Value Measurements

The Company follows guidance for accounting for

fair value measurements of financial assets and financial liabilities and for fair value measurements of nonfinancial items that are recognized

or disclosed at fair value in the financial statements on a recurring basis.

Additionally, the Company adopted guidance for fair value

measurement related to non-financial items that are recognized and disclosed at fair value in the financial statements on a non-recurring

The guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.

The hierarchy gives the highest priority to unadjusted

quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving

significant unobservable inputs (Level 3 measurements).

The three levels of the fair value hierarchy are as follows:

Level 1 inputs are quoted prices (unadjusted)

in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 inputs are inputs other than quoted prices

included within Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 inputs are unobservable inputs for the

asset or liability.

The carrying amounts of financial assets such as cash approximate their fair values because of the short maturity

of these instruments.

NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS

Recent accounting pronouncements issued by the

FASB (including its Emerging Issues Task Force) and the United States Securities and Exchange Commission did not or are not believed by

management to have a material impact on the Company’s present or future financial statements.

NOTE 4 – REVENUE

We are in the business of acquiring and holding of bitcoin and providing

AI-enabled software development services for industrial and other customers.

As of and for the period ended September 30, 2024,

there were no revenue generated from SAAS business.

NOTE 5 – CASH AND CASH EQUIVALENTS

As of September 30, 2024, the Company held cash

in bank in the amount of $ 668,387 , which consist of the following:

September 30,

Bank Deposits- Outside USA

NOTE 6 – DIGITAL ASSETS

As of September 30, 2024, digital assets holdings

are as follow:

September 30,

Opening balance

Purchase of BTC

Gain from digital

Fair value gain from digital assets

Ending balance

of June 30, 2024, the Company is hold approximately 833 BTC at the total cost of $ 24,990,000 .

For the six months ended June 30, 2024

and for the year ended December 31, 2023, the Company recognized gain of $ 15,595,778 and $ 10,147,576 on digital assets respectively.

7 – ACCOUNT RECEIVABLES

of June 30, 2024, accounts receivable are related to the services fee receivables from customers as follow:

Company does not require collateral for accounts receivable.

The Company maintains an allowance for its doubtful accounts receivable

due to estimated credit losses.

The Company records the allowance against bad debt expense through the condensed consolidated statements

of operations, included in general and administrative expense, up to the amount of revenues recognized to date.

Receivables are written

off and charged against the recorded allowance when the Company has exhausted collection efforts without success.

There is no allowance

for expected credit loss as the account receivable has been received as at reporting date.

8 – PREPAYMENTS

of June 30, 2024, prepayments consist of the following:

of June 30, 2024, there are prepayment of approximately $ 12,125,500 for the 40 % prepayment of 1000 BTC, which is expected to be delivered

by September 2024 with the lock up price of $ 30,000 per BTC.

The Company has planned to hold a special shareholders’ meeting to

purchase the remaining 5,167 BTC by issuance of new shares.

9 – AMOUNT DUE TO RELATED PARTIES

As of September 30, 2024, the Company held approximately 833 BTC at

the total cost of $ 24,990,000 .

For the nine months ended September 30, 2024 and for the year ended December 31, 2023, the Company recognized

fair value gain of $ 17,899,568 and $ 10,147,576 on digital assets respectively.

Amended and Restated BTC Trading Contract

September 24, 2024, the Company and the Association Seller

entered into an Amended and Restated BTC Trading Contract (the “Amended BTC Contract”), which amended and restated the BTC

Under the Amended BTC Contract, the Company is entitled to purchase up to 5,167 BTC (the “Total BTC”) from the BTC

Sellers through the Association Seller at a purchase price of US$ 30,000 per BTC (subject to an additional purchase price by issuance of

warrants to purchase shares of Common Stock at a nominal exercise price as described below) over a 12-month period commencing on the date

of the Amended BTC Contract.

The purchase price for the Total BTC will be paid by the Company in cash or shares of Common Stock.

the Amended BTC Contract states that the Association Seller (Party B) “owns the virtual currency”, to our knowledge, this

statement was mistakenly made and it were the individual members of the Association Seller, not the Association Seller itself, who own

the BTC to be sold under the Amended BTC Contract.

We believe the Association Seller will coordinate with its members to fulfill the Company’s

purchase of BTC if the Company so decides, however, we cannot guarantee that the Company will be able to purchase BTC from the BTC Sellers.

The Amended BTC Contract was entered into by the Company with the Association Seller only and no BTC Sellers owe any legal obligation

to the Company in connection with the purchase and sale of BTC.

At the time when the Amended BTC Contract was

signed, the Company indicated its intent to exercise the option to purchase 5,000 BTC out of the Total BTC pursuant to the Amended BTC

Contract (the “Amended 5,000 BTC Transaction”).

According to the terms of the Amended BTC Contract, the previously-made Prepayment

Amount will be applied towards the total purchase price for the Amended 5,000 BTC Transaction and the Company will pay the remaining balance

through (i) the issuance of 135,171,078 shares of Common Stock (the “Shares”) valued at $ 1.02 per share and (ii) the issuance

of warrants to purchase 294,117,647 shares of Common Stock at a nominal exercise price (the “Warrants”).

The value of $ 1.02 per share for the Shares is

equal to the sum of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the signing of the Amended

BTC Contract, and (ii) $ 0.01 .

Using the same per value valuation, the warrants is worth of approximately $ 300,000,000 .

The Amended BTC Contract does not have a fixed

However, in the event of a breach by either party, the non-breaching party has the right to terminate the agreement.

In such case,

the breaching party will be obligated to pay a penalty of $ 18,000,000 to the non-breaching party.

above description of the Amended BTC Contract does not purport to be complete, and is qualified in its entirety by reference to the full

text of the Amended BTC Contract, a copy of which is attached to the Company’s Current Report on Form 8-K as Exhibit 10.1, filed

with the SEC on September 27, 2024, which is incorporated by reference

Impact on Company’s Capitalization and

Stockholder Approval

The issuance of securities pursuant to the Amended

BTC Contract will not affect the rights of the Company’s existing stockholders, but such issuances will have a significant dilutive

effect on the Company’s existing stockholders, including the voting power of the existing stockholders.

As of the date of this report, there were 6,976,410 issued and outstanding

shares of the Common Stock .

Immediately after the issuance of the Shares (assuming no exercise of

the Warrants), there will be 142,147,488 issued and outstanding shares of the Common Stock, and the ownership percentage of the Company’s

existing stockholders in the Company will be diluted to approximately 4.91 %.

Assuming full exercise of the Warrants concurrently with

the issuance of the Shares, immediately after the issuance of the Shares, there will be 436,265,135 issued and outstanding shares of Common

Stock, and the ownership percentage of the Company’s existing stockholders in the Company will be further diluted to approximately

Pursuant to Nasdaq Rule

5635(a), if an issuer intends to issue common stock or securities convertible into or exercisable for common stock, in connection with

the acquisition of stock or assets of another company, which may equal or exceed 20 % of the outstanding common stock or voting power on

a pre-transaction basis, the issuer generally must obtain the prior approval of its stockholders.

Pursuant to Nasdaq Rule 5635(d), if

an issuer intends to issue common stock or securities convertible into or exercisable for common stock, other than in a public offering,

which may equal or exceed 20 % of the outstanding common stock or voting power on a pre-transaction basis for a price that is lower than

(i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the signing of a binding agreement;

average Nasdaq Official Closing Price of the common stock (as reflected on Nasdaq.com) for the five trading days immediately preceding

the signing of the binding agreement for such common stock, the issuer generally must obtain the prior approval of its stockholders.

The Shares to be issued

to the BTC Sellers in the Amended 5,000 BTC Transaction exceeds the threshold for which stockholder approval is required under Nasdaq

Rule 5635(a), and the Warrant Shares to be issued to the BTC Sellers upon the full exercise of the Warrants could result in the issuance

of a number of shares exceeding the threshold and pricing for which stockholder approval is required under Nasdaq 5635(d).

Company is required to obtain requisite stockholder approval for the Amended 5,000 BTC Transaction.

As disclosed in a Preliminary

Information Statement on Schedule 14C filed by the Company on October 3, 2024, the Company has obtained the requisite stockholder approval

for the Amended 5,000 BTC Transaction in accordance with the Company’s articles of incorporation and bylaws on September 24, 2024.

NOTE 7 – ACCOUNTS RECEIVABLE

As of September 30, 2024, accounts receivable

are related to the services fee from customers as follows:

September 30,

Accounts Receivable

The Company does not require collateral for accounts

The Company maintains an allowance for its doubtful accounts receivable due to estimated credit losses.

The Company records

the allowance against bad debt expense through the condensed consolidated statements of operations, included in general and administrative

expense, up to the amount of revenues recognized to date.

Receivables are written off and charged against the recorded allowance when

the Company has exhausted collection efforts without success.

There is no allowance for expected credit loss as the accounts receivable

has been received as at reporting date.

NOTE 8 – PREPAYMENTS

As of September 30, 2024, prepayments consist

of the following:

September 30,

Prepayment for digital assets

As previously disclosed in a Form 8-K filed on

September 28, 2023, the Company entered into a BTC Trading Contract (the “BTC Contract”) with an autonomous organization (the

“Association Seller”), which supports its members in the sale of BTC.

While the Association Seller provides services to facilitate

the sale of BTC by its members, it does not exert control over them by ownership or contract, nor does it make decisions for its members

relating to the sale of BTC.

None of the members of the Association Seller hold equity, serve as director or officer, or otherwise has

voting power or management rights of the Association Seller.

Under the BTC Contract, the Company has the right

to purchase up to 6,000 BTC from the members of the Association Seller (each, a “BTC Seller”) through the Association Seller

at a locked price of $ 30,000 /BTC over a 12-month period commencing on September 25, 2023, with payment to be made in the form of cash

or the Company’s shares.

Although the BTC Contract states that the Association Seller (Party B) “owns the virtual currency”,

to our knowledge, this statement was mistakenly made and it were the individual members of the Association Seller, not the Association

Seller itself, who own the BTC to be sold under the BTC Contract.

We believe the Association Seller will coordinate with its members to

fulfill the Company’s purchase of BTC if the Company so decides, however, we cannot guarantee that the Company will be able to purchase

BTC from the BTC Sellers.

The BTC Contract was entered into by the Company with the Association Seller only and no BTC Sellers owe any

legal obligation to the Company in connection with the purchase and sale of BTC.

Following the execution of the BTC Contract, the

Company purchased 833 BTC from the BTC Sellers and decided to purchase an additional 1,000 BTC (the “1,000 BTC Purchase”).

As of December 31, 2023, the Company made a prepayment to the BTC Sellers through the Association Seller of approximately $ 12,125,500

(the “Prepayment Amount”), representing 40 % of the total purchase price for 1000 BTC.

The prepayment was made to secure favorable

pricing and demonstrate the Company’s commitment to completing the 1,000 BTC Purchase.

This prepayment is refundable if the 1,000

BTC Purchase is not completed.

While negotiating the terms of the 1,000 BTC Purchase with the BTC Sellers, the Company decided to exercise

its right under the BTC Contract to purchase 5,000 BTC (the “5,000 BTC Purchase”), which includes the previously planned 1,000

To reflect the then price increase in BTC and finalize the transaction details of the 5,000 BTC Purchase, the Company and the Association

Seller entered into that certain Amendment Agreement (the “Amendment Agreement”) on May 2, 2024, which was previously disclosed

in a Form 8-K filed by the Company on May 6, 2024.

According to the Amendment Agreement, the Company

agreed to pay the aggregate price for the 5,000 BTC through the issuance of 40,000,000 shares of the Company’s common stock (the

“Common Stock”) valued at $ 3.75 per share, which was the closing market price of the Common Stock as of May 1, 2024 (the “Then

FMV”) and warrants to purchase 80,000,000 shares of the Common Stock with the exercise price of $ 2.6 per share (equal to 70 % of

the Then FMV).

In connection with the 5,000 BTC Purchase, on May 8, 2024, the Company filed a Preliminary Information Statement on Schedule

14C (the “Preliminary 14C”).

Subsequently, the Company decided to cease pursuing the 5,000 BTC Purchase due to the market

fluctuations in BTC and further discussions with the BTC Sellers, which was previously disclosed on a Form 8-K filed by the Company on

June 26, 2024.

Despite the cancellation of the 5,000 BTC Purchase, negotiations regarding

the original 1,000 BTC Purchase continued.

The Company’s original plan was to settle the remaining 60% of the total purchase price

for 1,000 BTC through the issuance of the Common Stock at a per share price based on the average market price over a five-day period immediately

prior to the date of the completion of the 1,000 BTC Purchase.

However, the Board believed in the potential long-term appreciation of

As a result, it has decided to halt the 1,000 BTC Purchase and instead re-negotiate the terms with the Associate Seller to acquire

5,167 BTC, which represents the maximum number of BTC that the Company was entitled to purchase under the BTC Contract minus the BTC already

acquired under the BTC Contract.

NOTE 9 – INVESTMENT

As of September 30, 2024, investment consist of

the following:

September 30,

Investment in an associate company

In April 2024, there are 3,940,000 shares issued

with the total amount of $ 13,396,000 for the acquisition of 20 % of associate company.

The officers, directors and selling shareholders

of associate company are not related party and independent with each other, which are not acting in concert with others.

Investment in associate company that we have significant

influence but do not have control over the investee are accounted for under the equity method.

We will periodically review the investment

for impairment.

The initial measurement and periodic subsequent adjustments of the investment are calculated by applying the ownership

percentage to the net assets or equity of the partially owed entity under ASC 323.

NOTE 10 – AMOUNT DUE TO RELATED PARTIES

September 30,

Related parties payable

1 unchanged sentence

Director fee payable

related party balance of $ 282,535 represented advances from former shareholders for Company’s daily operation.

of June 30, 2024, the amount due to shareholders of $ 607,197 represented advances and professional expenses paid on behalf by Shareholders,

which consist of audit fees, lawyers’ fee and other professional expenses.

of June 30, 2024, the director fee payable of $ 886,000 represented the accrual of director fees from the appointment date to June 30,

amount due to related parties are interest free, no collateral and have no fixed of repayment period.

The related party balance of $ 282,533 represented

advances from former shareholders for Company’s daily operation.

As of September 30, 2024, the amount due to shareholders

of $ 300,055 represented advances and professional expenses paid on behalf by Shareholders, which consist of audit fees, lawyers’

fee and other professional expenses.

As of September 30, 2024, the director fee payable

of $ 896,000 represented the accrual of director fees from the appointment date to September 30, 2024.

The amount due to related parties are interest

free, unsecured and have no fixed of repayment period.

NOTE 11 – ACCOUNT PAYABLES

As of September 30, 2024 and December 31, 2023, account

payables are related to the software services fee payables to suppliers as follow:

September 30,

Account payables

of June 30, 2024 and December 31, 2023, account payables are related to the software services fee payables to suppliers as follow:

11 – OTHER PAYABLES

of June 30, 2024, other payables consists of unpaid professional fee as follow:

fee payables included professional balance of $ 812,500 are included outstanding legal fees in relation to shareholders’ litigation,

BTC consultant fee and listing compliance fee owing to professional parties.

12 – SHAREHOLDERS’ EQUITY

Company has an unlimited number of ordinary shares authorized, and has issued 6,976,410 shares with no par value as of June 30, 2024.

March 29, 2019, the Company has issued 100,000,000 shares with no par value to thirty-three founders.

On September 3, 2019, the Company

has issued a total 74,000 shares at $ 3 each to 5 non-US shareholders.

The total outstanding shares has increased to 100,074,000 shares

as of December 31, 2019.

February 2020, there are 1,666,666 shares were issued at $ 3 per share to 2 new shareholders.

On July 10, 2020, the Company issued another

26,000 shares at $ 3 per share to 2 new shareholders and the total outstanding shares has increased to 101,766,666 shares.

September 15, 2020, the Wyoming Secretary of State approved the Company’s certificate of amendment to amend its Articles of Incorporation

to effect 3 for 1 forward stock split .

The total issued and outstanding shares of the Company’s common stock has been increased

from 101,766,666 to 305,299,998 shares, with the par value unchanged at zero.

September 21, 2020, there are 151,500 shares issued at $ 5 per share to 303 new shareholders, the Company’s common stock issued

has been increased to 305,451,498 shares as of December 31, 2020.

April 13, 2022, the Company and 15 shareholders entered into that certain Share Exchange Agreement (the “Share Exchange Agreement”),

pursuant to which Company and the 15 Shareholders have cancelled 120,418,995 shares of Common Stock (“Cancellation Shares”).

Upon completion of the transaction, the outstanding shares of the Company’s Common Stock has been decreased from 305,451,498 shares

to 185,032,503 shares as of June 30, 2022.

July 21, 2022, the Company completed uplisting of its common stock to the Nasdaq Capital Market, and the closing of its public offering

of 10,000,000 shares of common stock with the gross proceeds of $ 40,000,000 and net proceeds of $ 37,057,176 after deducting the total

offering cost of $ 2,942,824 .

The shares were priced at $ 4.00 per share, and the offering was conducted on a firm commitment basis.

shares continue to trade under the stock symbol “WETG.” The Company’s total issued and outstanding common stock has

been increased to 195,032,503 shares after the offering.

July 22, 2022, the Company issued 25,000 shares of common stock to certain service providers for services in connection with the public

offering, the fair value of the share was $ 477,500 .

The Company’s total issued and outstanding common stock has been increased

to 195,057,503 shares in 2022.

June 9, 2023, the Wyoming Secretary of State approved the Company’s certificate of amendment to amend its Articles of Incorporation

to effect 1 for 185 reverse stock split (“Reverse Stock Split”).

The total issued and outstanding shares of the Company’s

common stock decreased from 195,057,503 to 1,054,530 shares, with the par value unchanged at zero .

September, 2023, there are 1,570,600 shares issued with the total amount of $ 12,616,454 , the Company’s common stock issued has

been increased to 2,625,130 shares as of March 31, 2024.

April 2024, there are 4,351,280 shares issued with the total amount of $ 14,776,000 for the acquisition of 20 % of associate company and

loan conversion to equity, the Company’s common stock issued has been increased to 6,976,410 shares as of June 30, 2024.

13 – INCOME TAXES

Company is subject to U.S.

NOTE 12 – OTHER PAYABLES

As of September 30, 2024, other payables consists

of unpaid professional fee as follow:

September 30,

Professional fees

Professional fee payables of $ 1,082,500 comprise outstanding legal

fees in relation to shareholders’ litigation, BTC consultant fee and listing compliance fee owing to professional parties.

NOTE 13 – SHAREHOLDERS’ EQUITY

The Company has an unlimited number of authorized ordinary shares and

has issued 6,976,410 shares with no par value as of September 30, 2024.

On March 29, 2019, the Company has issued 100,000,000

shares with no par value to thirty-three founders.

On September 3, 2019, the Company has issued a total 74,000 shares at $ 3 each to 5

non-US shareholders.

The total outstanding shares has increased to 100,074,000 shares as of December 31, 2019.

In February 2020, 1,666,666 shares were issued at $ 3 per share to 2

new shareholders.

On July 10, 2020, the Company issued another 26,000 shares at $ 3 per share to 2 new shareholders and the total outstanding

shares has increased to 101,766,666 shares.

On September 15, 2020, the Wyoming Secretary of

State approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 3 for 1 forward stock split .

The total issued and outstanding shares of the Company’s common stock has been increased from 101,766,666 to 305,299,998 shares,

with the par value unchanged at zero.

On September 21, 2020, there are 151,500 shares

issued at $ 5 per share to 303 new shareholders, the Company’s common stock issued has been increased to 305,451,498 shares as of

December 31, 2020.

On April 13, 2022, the Company and 15 shareholders

entered into that certain Share Exchange Agreement (the “Share Exchange Agreement”), pursuant to which Company and the 15

Shareholders have cancelled 120,418,995 shares of Common Stock (“Cancellation Shares”).

Upon completion of the transaction,

the outstanding shares of the Company’s Common Stock has been decreased from 305,451,498 shares to 185,032,503 shares as of June

On July 21, 2022, the Company completed uplisting

of its common stock to the Nasdaq Capital Market, and the closing of its public offering of 10,000,000 shares of common stock with the

gross proceeds of $ 40,000,000 and net proceeds of $ 37,057,176 after deducting the total offering cost of $ 2,942,824 .

The shares were priced

at $ 4.00 per share, and the offering was conducted on a firm commitment basis.

The shares continue to trade under the stock symbol “WETG.”

The Company’s total issued and outstanding common stock has been increased to 195,032,503 shares after the offering.

On July 22, 2022, the Company issued 25,000 shares

of common stock to certain service providers for services in connection with the public offering, the fair value of the share was $ 477,500 .

The Company’s total issued and outstanding common stock has been increased to 195,057,503 shares in 2022.

On June 9, 2023, the Wyoming Secretary of State

approved the Company’s certificate of amendment to amend its Articles of Incorporation to effect 1 for 185 reverse stock split (“Reverse

Stock Split”).

The total issued and outstanding shares of the Company’s common stock decreased from 195,057,503 to 1,054,530

shares, with the par value unchanged at zero.

September, 2023, there are 1,570,600 shares issued with the total amount of $ 12,616,454 , the Company’s common stock issued has been

increased to 2,625,130 shares as of December 31, 2023.

In April 2024, there are 3,940,000 shares issued

with the total amount of $ 13,396,000 for the acquisition of 20 % of associate company.

On April 9, 2024, an addition of 411,280 shares were converted to equity

from loan and outstanding professional fee with the amount of $ 1,974,140 at the conversion price of $ 4.80 per share based on average price

of last 10 trading days.

These loans are related to the long outstanding salaries, professional fee, litigation lawyer fees and BTC consultant

fee paid by shareholders on behalf of the Company.

The amount due to related parties is interest free, unsecured and has no fixed repayment

Prior to the loan conversion to equity, the amount of $ 1,974,140 is recorded as current liabilities.

Subsequent to loan to equity

conversion, the amount of $ 1,974,140 was converted to 411,280 shares and recorded in stockholders’ equity as follows:

Nature of loan:

Conversion price:

Number of shares converted:

Financial impact of conversion:

Advance from shareholders to pay outstanding legal fee, salaries, Edgar

filing fee, audit fee, which accumulated from January 2023 to March 2024.

$ 594,140 $ 4.80 123,780 shares Reclassification from amount due to related parties to equity

Accounting and compliance fee, which accumulated from January 2023

to March 2024.

$ 420,000 $ 4.80 87,500 shares Reclassification from other payables to equity

Legal advisory fee in relation to BTC transaction which

accumulated from January 2023 to March 2024.

$ 480,000 $ 4.80 100,000 shares Reclassification from other payables to equity

BTC Consultant fee, which accumulated from January 2023 to March 2024.

$ 480,000 $ 4.80 100,000 shares

Reclassification from other payables to equity

Total $ 1,974,140 411,280 shares

As of September 30, 2024, the Company’s

common stock issued has been increased to 6,976,410 shares.

NOTE 14 – INCOME TAXES

The Company is subject to U.S.

Federal tax laws.

The Company has not recognized an income tax benefit for its operating losses in the United

States because the Company does not expect to commence active operations in the United States.

are several subsidiaries were incorporated in Hong Kong and are subject to Hong Kong profits tax at a tax rate of 16.5 %.

Company is currently conducting its certain operations in the PRC through its subsidiaries, which are subject to tax from 15 % to 25 %.

14- SUBSEQUENT EVENTS

subsequent events were occurs during the period.

The Company has not recognized an income tax benefit for its operating losses in the United States because the Company does not expect

to commence active operations in the United States.

There are several subsidiaries incorporated in Hong Kong and are subject

to Hong Kong profits tax at a tax rate of 16.5 %.

The Company is currently conducting its certain

operations in the PRC through its subsidiaries, which are subject to tax from 15 % to 25 %.

NOTE 15 – SUBSEQUENT EVENTS

There were no subsequent events noted

from the end of September 30, 2024 to the date of this report.

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