Longwen Group Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Longwen Group Corp. has filed its Q1 2024 10-Q report, detailing financial performance and corporate history.</b>

AI Summary

Longwen Group Corp. (WYGC) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Longwen Group Corp. filed a 10-Q report for the period ending March 31, 2024. The company's SIC code is 8742, indicating Services-Management Consulting Services. The filing includes financial data for the first quarter of 2024 and comparative periods. Longwen Group Corp. was formerly known as Allied Ventures Holdings Corp. and Dephasium Corp. The company's principal business address is in Hangzhou, China.

Why It Matters

For investors and stakeholders tracking Longwen Group Corp., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial information, crucial for assessing the company's performance and making informed investment decisions. Understanding the company's historical name changes and its current focus on management consulting services offers context for its business evolution and market position.

Risk Assessment

Risk Level: low — Longwen Group Corp. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, suggesting a low level of immediate risk based solely on this document.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue drivers and operational performance.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed period of report.)
• 2024-05-14 — Filing Date (Date the 10-Q was filed.)
• 8742 — SIC Code (Standard Industrial Classification for Management Consulting Services.)
• 2015-02-23 — Name Change Date (Date of name change from Allied Ventures Holdings Corp.)
• 2013-03-05 — Name Change Date (Date of name change from Dephasium Corp.)

Key Players & Entities

• Longwen Group Corp. (company) — Filer of the 10-Q report.
• Allied Ventures Holdings Corp. (company) — Former name of Longwen Group Corp.
• Dephasium Corp. (company) — Former name of Longwen Group Corp.
• NV (company) — State of incorporation.
• Hangzhou (company) — City of business and mailing address.

FAQ

Industry Context

Longwen Group Corp. operates within the management consulting services sector, providing expertise and strategic advice to businesses.

Regulatory Implications

As a publicly traded company in the U.S., Longwen Group Corp. is subject to SEC regulations and reporting requirements, including the filing of 10-Q forms.

What Investors Should Do

1. Analyze the revenue breakdown by segment (Consulting Service Income, Online Product Sales, Offline Product Sales) if available in the full filing.
2. Examine the balance sheet details for changes in equity accounts like Common Stock, Additional Paid-In Capital, and Retained Earnings.
3. Review any disclosures related to related party transactions, particularly concerning Offline Product Sales.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

SIC Code

Standard Industrial Classification code used to classify industries. (Helps categorize the company's primary business activities, in this case, Management Consulting Services.)

Year-Over-Year Comparison

This filing represents the first 10-Q for the fiscal year 2024, providing updated financial information compared to the previous year's Q1 filing and the most recent 10-K.

Filing Documents

• form10-q.htm (10-Q) — 656KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 9KB
• 0001493152-24-019228.txt (&nbsp;) — 4095KB
• lwlw-20240331.xsd (EX-101.SCH) — 33KB
• lwlw-20240331_cal.xml (EX-101.CAL) — 56KB
• lwlw-20240331_def.xml (EX-101.DEF) — 185KB
• lwlw-20240331_lab.xml (EX-101.LAB) — 307KB
• lwlw-20240331_pre.xml (EX-101.PRE) — 228KB
• form10-q_htm.xml (XML) — 492KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 4 Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Operations and Other Comprehensive Income (Loss) (unaudited) for the three months ended March 31, 2024 and 2023 6 Consolidated Statements of Cash Flows (unaudited) for the three months ended March 31, 2024 and 2023 7 Consolidated Statements of Changes in Stockholders' Equity (Deficit) (unaudited) for the three months ended March 31, 2024 and 2023 8 Notes to Unaudited Consolidated Financial Statements 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operation

Management's Discussion and Analysis of Financial Condition and Results of Operation 19 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4

Controls and Procedures

Controls and Procedures 23

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 23 Item 1A

Risk Factors

Risk Factors 23 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3 Defaults Upon Senior Securities 23 Item 4 Mine Safety Disclosures 23 Item 5 Other Information 23 Item 6 Exhibits 24

SIGNATURES

SIGNATURES 25 EXHIBIT INDEX 26 2 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the section entitled "Risk Factors", beginning on page 5 of our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities & Exchange Commission ("SEC") on April 1, 2024. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless expressly indicated or the context requires otherwise, the terms "Company," "we," "us," and "our" in this document refer Longwen Group Corp., a Nevada corporation. 3 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS LONGWEN GROUP CORP. INDEX TO FINANCIAL STATEMENTS Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Operations and Other Compre

View Full Filing

View this 10-Q filing on SEC EDGAR