Longwen Group Corp. Files Q3 2024 10-Q

TL;DR

Longwen Group Corp. 10-Q filed. Q3 financials out. Check it.

AI Summary

Longwen Group Corp. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance for the third quarter and the first nine months of the year, including revenue from consulting services and online product sales. The company, formerly known as Allied Ventures Holdings Corp. and Dephasium Corp., is incorporated in Nevada and operates in management consulting services.

Why It Matters

This filing provides investors with an update on Longwen Group Corp.'s financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant negative news.

Key Numbers

• Q3 2024 — Reporting Period (Financial results for the third quarter ending September 30, 2024.)
• First Nine Months 2024 — Reporting Period (Financial results for the period January 1, 2024, to September 30, 2024.)

Key Players & Entities

• Longwen Group Corp. (company) — Filer of the 10-Q
• Allied Ventures Holdings Corp. (company) — Former name of Longwen Group Corp.
• Dephasium Corp. (company) — Former name of Longwen Group Corp.
• 20240930 (date) — End of reporting period
• 20241106 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 820KB
• ex31-1.htm (EX-31.1) — 10KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 5KB
• 0001493152-24-043824.txt ( ) — 4430KB
• lwlw-20240930.xsd (EX-101.SCH) — 33KB
• lwlw-20240930_cal.xml (EX-101.CAL) — 57KB
• lwlw-20240930_def.xml (EX-101.DEF) — 167KB
• lwlw-20240930_lab.xml (EX-101.LAB) — 311KB
• lwlw-20240930_pre.xml (EX-101.PRE) — 233KB
• form10-q_htm.xml (XML) — 581KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 4 Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 5 Consolidated Statements of Operations and Other Comprehensive Income (Loss) (unaudited) for the three and nine months ended September 30, 2024 and 2023 6 Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2024 and 2023 7 Consolidated Statements of Changes in Stockholders' Equity (Deficit) (unaudited) for the three and nine months ended September 30, 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 22

- 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 Wenyuan Group Corp. (formerly known as Longwen Group Corp.), a Nevada corporation. 3 PART I – FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS WENYUAN GROUP CORP. (FORMERLY KNOWN AS LONGWEN GROUP CORP.) INDEX TO FINANCIAL STATEMENTS Consolidated Balance Sheets as of September 30, 2024 (unaudi

View Full Filing

View this 10-Q filing on SEC EDGAR