$HGYN

Cereplast Inc

CIK:0001324759|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 32,161	$ 112,812	$ 75,858	$ 353,877
Cost of revenue	10,695	17,252	32,407	141,599
Gross Profit	21,466	95,560	43,451	212,278
Operating Expenses
Selling and marketing	28,298	3,861	45,266	4,034
General and administrative	82,346	46,799	149,581	98,816
Professional fees	6,295	7,016	38,644	31,406
Total operating expenses	116,939	57,676	233,491	134,256
Income (loss) from operations	(95,473)	37,884	(190,040)	78,022
Non-operating income (expenses)
Interest income (expense)	2		3	6
Other income (expense)	(343)	18	(248)	14
Non-operating income (expenses), net	(341)	18	(245)	20
Income (loss) before taxes	(95,814)	37,902	(190,285)	78,042
Provision for income taxes		2,436		5,219
Income (loss) from continuing operations	(95,814)	35,466	(190,285)	72,823
Discontinued operations
Loss from discontinued operation		(2,999)		(2,999)
Loss on deconsolidation of the discontinued operations		(2,788)		(2,788)
Loss from discontinued operations, net of tax		(5,787)		(5,787)
Net Income (loss)	(95,814)	29,679	(190,285)	67,036
Less: loss attributable to noncontrolling interest	(1,410)	(363)	(2,535)	(506)
Net income (loss) to the Company	(94,404)	30,042	(187,750)	67,542
Other comprehensive income	3,412	1,290	7,049	1,541
Comprehensive Income (loss)	$ (90,992)	$ 31,332	$ (180,701)	$ 69,083
Basic net income (loss) per common share	$ (0.0012)	$ 0.0004	$ (0.0024)	$ 0.0009
Dilutive net income (loss) per common share	$ (0.0012)	$ 0.0004	$ (0.0024)	$ 0.0009
Weighted average number of common shares outstanding - basic	74,640,766	74,640,766	74,640,766	74,640,766
Weighted average number of common shares outstanding - diluted	74,640,766	74,640,766	74,640,766	74,640,766

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)	$ (190,285)	$ 72,823
Net income from discontinued operations		(5,787)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,335	359
Lease expense	11,590	19,359
Changes in operating assets and liabilities:
Accounts receivable	20,507	(93,161)
Inventory	(2,567)	4,874
Prepaid expense and other receivable	(26,820)	(60,118)
Deferred expense	2,345
Accounts payable and accrued liabilities	211,947	15,982
Deferred revenue	(32,577)	40,444
Operating lease payment	(12,561)	(19,359)
Tax payable	(9,325)	2,135
Due to related party	14,127	22,571
Net Cash Provided by (Used in) Operating Activities from Continuing Operations	(11,284)	122
Net Cash Used in Operating Activities from Discontinued Operations		(2,027)
Net Cash Used in Operating Activities	(11,284)	(1,905)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of intangible assets	(7,140)
Net Cash Used in Investing Activities	(7,140)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceed from capital contribution	14,572
Net Cash Provided by Financing Activities	14,572
EFFECT OF EXCHANGE RATE CHANGE ON CASH & CASH EQUIVALENTS	470	852
Net change in cash and cash equivalents	(3,382)	(1,053)
Cash and cash equivalents, beginning of period	16,747	46,291
Cash and cash equivalents, end of period	13,365	45,238
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	2,713
NON-CASH INVESTING AND FINANCING ACTIVITIES
Right of use asset and related liability	$ 6,564	$ 46,840

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 13,365	$ 16,747
Accounts receivable, net	395,693	404,048
Inventory	37,934	34,286
Prepaid expense and other receivable	155,922	124,966
Total Current Assets	602,914	580,047
NONCURRENT ASSETS
Property and equipment, net	216	209
Intangible assets, net	14,643	9,492
Deferred expense	9,562	11,580
Right of use asset, net	5,443	9,987
Total Noncurrent Assets	29,864	31,268
TOTAL ASSETS	632,778	611,315
CURRENT LIABILITIES
Accounts payable and accrued liabilities	329,054	111,698
Operating lease liabilities - current	2,168	9,987
Deferred revenue	91,403	120,652
Tax payable	2,113	11,201
Total Current Liabilities	776,996	591,669
NONCURRENT LIABILITIES
Operating lease liabilities - noncurrent	2,292
Total Noncurrent Liabilities	2,292
TOTAL LIABILITIES	779,288	591,669
STOCKHOLDER’S EQUITY (DEFICIT)
Series A-1 Preferred stock: 5,000,000 shares authorized; $0.001 par value, 5,000,000 issued and outstanding at June 30, 2026, and December 31, 2025	5,000	5,000
Common stock: 2,000,000,000 shares authorized; $0.001 par value, 74,640,766 shares issued and outstanding at June 30, 2026, and December 31, 2025	74,641	74,641
Additional Paid-in Capital	97,485,977	97,471,393
Statutory surplus reserve	24,008	24,008
Accumulated other comprehensive income	21,915	14,865
Accumulated deficit	(97,840,395)	(97,652,645)
Total Hong Yuan Group Stockholders’ Deficit	(228,854)	(62,738)
Noncontrolling interest	82,344	82,384
Total Equity (Deficit)	(146,510)	19,646
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	632,778	611,315
Related Party [Member]
CURRENT LIABILITIES
Due to related party	$ 352,258	$ 338,131