Wiseman Global Ltd

CIK:0001756640|SEC Filings

Condensed 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	$ 583	$ 105,775	$ 117,595	$ 242,006
COST OF REVENUE	(10)	(87,019)	(62,049)	(161,845)
GROSS PROFIT	573	18,756	55,546	80,161
OTHER INCOME, NET	640	14,265	8,836	215,915
OPERATING EXPENSES
General and administrative	(103,217)	(424,622)	(348,104)	(850,768)
LOSS FROM OPERATION BEFORE INCOME TAX	(102,004)	(391,601)	(283,722)	(554,692)
INTEREST INCOME	1	35	22	104
LOSS BEFORE INCOME TAX	(102,003)	(391,566)	(283,700)	(554,588)
INCOME TAX EXPENSES			(8,453)	(3,014)
NET LOSS	(102,003)	(391,566)	(292,153)	(557,602)
Other comprehensive income/(loss):
- Foreign currency translation income (loss)	1,104	33,624	9,681	19,254
COMPREHENSIVE LOSS	$ (100,899)	$ (357,942)	$ (282,472)	$ (538,348)
NET LOSS PER SHARE, BASIC AND DILUTED	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	102,400,000	102,400,000	102,400,000	102,400,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (292,153)	$ (557,602)
Adjustments to reconcile net profit to net cash used in operating activities:
Depreciation	9,505	25,340
Amortization of ROU asset	67,383	156,050
Change in lease liability	(64,531)	(155,964)
Disposal of fixed asset		189,356
Changes in operating assets and liabilities:
Accounts receivable	112,274	871,427
Inventories	66,120	(473,373)
Deposits paid, prepayments and other receivables	229,754	(113,563)
Accounts payable		(30,915)
Other payables and accrued liabilities	361	(75,912)
Net cash provided by/(used in) operating activities	128,713	(165,156)
CASH FLOWS FROM INVESTING ACTIVITIES:
Advance to related parties	(124,983)
Net cash used in investing activities	(124,983)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advance from a director	18,176	53,937
Net cash provided by financing activities	18,176	53,937
Effect of exchange rate changes in cash and cash equivalents	630	6,248
Net increase/(decrease) in cash and cash equivalents	22,536	(104,971)
Cash and cash equivalents, beginning of period	67,777	362,771
CASH AND CASH EQUIVALENTS, END OF PERIOD	90,313	257,800
SUPPLEMENTAL CASH FLOWS INFORMATION
Income taxes paid	7,742
Right-of-use assets obtained in exchange for operating lease obligations	$ 170,132	$ 77,206

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 90,313	$ 67,777
Accounts receivable	78,275	188,360
Inventories	406,053	466,363
Loan to related parties	300,375	128,665
Prepayments	123,895	230,279
Deposits paid and other receivables	310,753	473,979
TOTAL CURRENT ASSETS	1,310,733	1,555,713
NON-CURRENT ASSETS
Right of use asset, net	170,132	75,520
Property, plant and equipment, net	9,575	11,928
TOTAL NON-CURRENT ASSETS	179,707	87,448
TOTAL ASSETS	1,490,440	1,643,161
CURRENT LIABILITIES
Other payables and accrued liabilities	206,957	204,910
Income tax payable	321,403	317,113
Lease liability	67,054	67,532
CURRENT LIABILITIES	667,943	643,190
NON-CURRENT LIABILITIES
Lease liability	113,124	8,126
TOTAL NON-CURRENT LIABILITIES	113,124	8,126
TOTAL LIABILITIES	781,067	651,316
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock – Par value $0.0001; Authorized: 200,000,000 None issued and outstanding
Common stock – Par value $ 0.0001; Authorized: 800,000,000 Issued and outstanding: 102,400,000 shares as of September 30, 2021 and 102,400,000 shares as of December 31, 2020	10,240	10,240
Additional paid-in capital	726,760	726,760
Accumulated other comprehensive income	51,373	41,692
Accumulated deficit	(79,000)	213,153
TOTAL STOCKHOLDERS’ EQUITY	709,373	991,845
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,490,440	1,643,161
Related Party [Member]
CURRENT ASSETS
Amount due from related parties	1,069	290
CURRENT LIABILITIES
Advance from related parties	776
Director [Member]
CURRENT LIABILITIES
Advance from related parties	$ 71,753	$ 53,635