QHY GROUP
CIK:0001423723|SEC Filings
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Income Statement [Abstract] | ||||
| Revenue | ||||
| Cost of Revenue | ||||
| Gross profit | ||||
| Expenses | ||||
| Listing fees | 4,277 | 1,575 | 8,044 | 4,999 |
| Professional fees | 9,708 | 2,851 | 18,972 | 16,508 |
| Professional fees – related party | 28,500 | 28,500 | 85,500 | 85,500 |
| License and royalty-related party | 12,500 | 12,500 | 37,500 | 37,500 |
| General and administrative | 144,026 | 144,240 | 432,302 | 432,988 |
| Total operating expenses | 199,011 | 189,666 | 582,318 | 577,495 |
| Other expenses/(income) | ||||
| Other income | (7,000) | |||
| Interest expenses – related party | 11,966 | 10,459 | 34,146 | 30,132 |
| Total other expenses | 11,966 | 10,459 | 34,146 | 23,132 |
| Net loss | 210,977 | 200,125 | 616,464 | 600,627 |
| Other comprehensive income | ||||
| Total comprehensive loss | $ 210,977 | $ 200,125 | $ 616,464 | $ 600,627 |
| Loss per share – basic and diluted (in Dollars per share) | $ (0.002) | $ (0.002) | $ (0.007) | $ (0.007) |
| Weighted average number of shares outstanding – basic and diluted (in Shares) | 87,269,789 | 87,269,789 | 87,269,789 | 87,269,789 |
Consolidated Statements of Cash Flows (Unaudited) - USD ($) |
9 Months Ended | |
|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Cash flows from operating activities | ||
| Net loss | $ (616,464) | $ (600,627) |
| Interest expenses | 34,146 | 30,132 |
| Consulting fee paid by common shares | ||
| Other income | (7,000) | |
| Changes in operating assets and liabilities: | ||
| Accounts payable | 410,128 | 411,723 |
| License fee payable – related party | 37,500 | 37,500 |
| Professional fee payable – related party | 85,500 | 85,500 |
| Net cash used in operating activities | (49,190) | (42,772) |
| Net cash provided by investing activities | ||
| Cash flows from financing activities | ||
| EIDL loan advance | 7,000 | |
| Cash proceeds from shareholder loan | 49,190 | 42,697 |
| Net cash provided by financing activities | 49,190 | 49,697 |
| Net decrease in cash and cash equivalents | 6,925 | |
| Cash and cash equivalents at beginning of period | 7,061 | 136 |
| Cash and cash equivalents at end of period | 7,061 | 7,061 |
| Supplemental disclosure of cash flow information | ||
| Income taxes paid | ||
| Interest paid | ||
Consolidated Balance Sheets - USD ($) |
Sep. 30, 2021 |
Dec. 31, 2020 |
|---|---|---|
| ASSETS | ||
| Cash | $ 7,061 | $ 7,061 |
| Due from a related party | 2,196,500 | 2,196,500 |
| Prepaid expenses and other current assets | 100 | 100 |
| Total assets | 2,203,661 | 2,203,661 |
| Current liabilities | ||
| Accounts payable | 1,549,935 | 1,139,809 |
| Due to related parties | 602,653 | 510,500 |
| Loan from a shareholder and interest payable | 633,500 | 519,317 |
| Total liabilities | 2,786,088 | 2,169,626 |
| Stockholders’ equity | ||
| Preferred stock, 5,000,000 shares authorized, 0 shares outstanding | ||
| Common stock, $0.001 par value; 1,000,000,000 shares authorized, 87,269,789 shares issued and outstanding at September 30, 2021 and December 31, 2020 | 87,270 | 87,270 |
| Additional paid in capital | 7,243,001 | 7,243,001 |
| Accumulated deficit | (7,912,700) | (7,296,236) |
| Total stockholders’ equity/(deficit) | (582,429) | 34,035 |
| Total liabilities and stockholders’ equity | $ 2,203,661 | $ 2,203,661 |