Reading closer
Wow. Even though the company brought in a miniscule amount of $50,000 for a whopping 55M shares, we don't even get that money in our shell. We get nothing. It went straight to Wang Fei's personal account, bypasssing us all together:
During the second quarter of 2022, the Company sold 53,550,000 shares of common stock for $53,550. As the Company does not have a bank account, the fund was deposited directly to Mr. Wang’s personal bank account and was accounted for as a decrease in due to related party.
Well, that's our governance. This is why I won't be going long. I'm going to put all proceeds into Nasdaq companies with good governance. Just being honest here. Whew. Well, I'm going push this under the rug now. Atleast we have transparency. Atleast they had to show this. We owe Wang Fei. How convenient.
On a good note, he has turn right around and spend the money here to keep the lights on. All for wasting our time. And we have 55M more shares here to show for our time being wasted.
We expect to require working capital of approximately $40,000 over the next 12 months to meet our financial obligations.
We are a shell company with no revenue generating activities. We anticipate that our operating activities will generate negative net cash flow during the remaining year of 2022.
The longer they wait, the more they bleed...
They really haven't done anything the whole quarter. Except raised $50,000, which they spent on this shell for the year so far. And people wonder why I'm cranky? Okay, I'm going to go eat dinner and now try real hard to put a positive spin on this. The positive spin angles: Yang Li and Lu Zhengwhatever (both board members) would benefit if our stock went up to say 75 cents. Hint, hint. Do I see any payment going to stock promoters in this report? No, sadly not.
Let's see here. The positive angle: Err, if you jack around till May of 2023, that's when the real hard 10K filing is required. And that's all of Yang Li's money down the toilet. And more indepth filing required. Do you want to jack around more, or do you want to come through and get this show started?
