PART I [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2022, including balance sheets, operations, cash flows, and equity, with notes on business and a subsequent share cancellation [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2022, total assets increased slightly to **$20.06 million**, driven by a substantial rise in cash and cash equivalents to **$7.57 million** from **$0.62 million**, while total liabilities remained stable Condensed Consolidated Balance Sheet (Unaudited) | Account | March 31, 2022 (USD) | December 31, 2021 (USD) | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | 7,568,537 | 616,593 | | Accounts receivables | 958,797 | 5,627,463 | | Account receivable- related party | 36,083 | 3,603,402 | | **Total Assets** | **20,063,610** | **19,470,524** | | **Total Liabilities** | **4,938,843** | **4,941,202** | | **Total Stockholders' Equity** | **15,124,767** | **14,529,322** | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2022, total service revenue decreased to **$2.24 million** from **$2.78 million** year-over-year, resulting in lower gross profit of **$1.45 million** and net income of **$560,855** Condensed Consolidated Statements of Operations (Unaudited) | Account | Three Months Ended March 31, 2022 (USD) | Three Months Ended March 31, 2021 (USD) | | :--- | :--- | :--- | | Total service revenue | 2,236,853 | 2,780,923 | | Cost of revenue | (789,188) | (146,308) | | **Gross profit** | **1,447,665** | **2,634,615** | | General and Administrative | 805,268 | 1,889,190 | | **Operations profit** | **642,397** | **745,425** | | **Net income** | **560,855** | **652,084** | | Basic and diluted net income per share | 0.00 | 0.00 | [Condensed Statements of Cash Flows](index=4&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly improved to **$7.42 million** in Q1 2022, primarily due to accounts receivable collection, while **$0.72 million** was used in investing activities Condensed Statements of Cash Flows (Unaudited) | Account | For the Period March 31, 2022 (USD) | For the Period March 31, 2021 (USD) | | :--- | :--- | :--- | | Net cash flows provided by/(used in) operating activities | 7,420,490 | (560,646) | | Net cash used in investing activities | (723,420) | - | | Net cash flows provided by/(used in) financing activities | 259,840 | (1,408,683) | | **Change in cash and cash equivalents** | **6,951,944** | **(1,967,663)** | | Cash and cash equivalents, end of period | 7,568,537 | 2,672,940 | [Notes to Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) These notes detail the company's 'YCloud' social e-commerce platform business, revenue model based on GMV, new customer agreements, and a significant subsequent event involving the cancellation of **120.4 million** common shares - The company's business is providing technical services and solutions via its social e-commerce platform, 'YCloud', to micro-business online stores in China[19](index=19&type=chunk) - In Q1 2022, the company entered into YCloud system service agreements with three new customers: Beijing Yidong Linglong Cultural Media Co., Ltd., Beijing Maitu International Travel Agency Co., Ltd, and Beijing Youth Travel Service Co., Ltd[22](index=22&type=chunk)[23](index=23&type=chunk) - Revenue is derived from system service fees of **2%-3.5%** of the total Gross Merchandise Volume (GMV) generated on the YCloud platform[66](index=66&type=chunk) Gross Merchandise Volume (GMV) | Period | March 31, 2022 (USD) | March 31, 2021 (USD) | | :--- | :--- | :--- | | Non-related parties | 62,943,846 | 80,402,192 | | Related party | 4,800,846 | - | | **Total GMV** | **67,744,692** | **80,402,192** | - Subsequent Event: On April 13, 2022, the company cancelled **120,418,995** shares of Common Stock, reducing the total outstanding shares from **305,451,498** to **185,032,503** as of May 23, 2022[100](index=100&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022 financial results, noting a revenue decrease to **$2.24 million** due to lower GMV from COVID-19 lockdowns, a decline in net income, and improved liquidity driven by **$8.2 million** in accounts receivable collection - The decrease in revenue for Q1 2022 was mainly due to a decrease in Gross Merchandise Volume (GMV) in the Ycloud system as a result of Covid-19 lockdowns in certain main cities in PRC since March 2022, partially mitigated by the addition of **3** new customers[108](index=108&type=chunk) - General and administrative expenses decreased significantly to **$805,268** from **$1,889,190** in the prior-year period, mainly due to a reduction in advertising, exhibition, and legal expenses[111](index=111&type=chunk) - Cash on hand increased to **$7,568,537**, primarily due to the collection of approximately **$8.2 million** in accounts receivables from customers and a related party during the period[114](index=114&type=chunk) - Net cash from operating activities increased by approximately **$7.9 million** year-over-year, mainly due to the collection of accounts receivables[115](index=115&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=20&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is classified as a 'smaller reporting company' and is therefore not required to provide the quantitative and qualitative disclosures about market risk - As a 'smaller reporting company' as defined by Regulation S-K, the company is not required to provide the information for this item[120](index=120&type=chunk) [Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures) Management evaluated the company's disclosure controls and procedures and concluded they were not effective as of March 31, 2022, due to identified material weaknesses - Management concluded that the company's disclosure controls and procedures were **not effective** as of March 31, 2022[122](index=122&type=chunk) - Material weaknesses were identified, including: lack of an audit committee, lack of a majority of outside directors on the board, and management being dominated by two individuals without adequate compensating controls[122](index=122&type=chunk) - Additional weaknesses noted were a lack of segregation of duties within accounting functions and the lack of multiple levels of review of accounting data[123](index=123&type=chunk) PART II – Other Information [Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that there are no legal proceedings - None[126](index=126&type=chunk) [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) As a 'smaller reporting company,' the company is not required to provide risk factor disclosures in its 10-Q report - The company is a 'smaller reporting company' and as such is not required to provide the information contained in this item[126](index=126&type=chunk) [Unregistered Sales of Equity Securities And Use Of Proceeds](index=21&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20And%20Use%20Of%20Proceeds) The company reports no unregistered sales of equity securities or use of proceeds during the period - None[126](index=126&type=chunk) [Defaults Upon Senior Securities](index=21&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company had no senior securities issued and outstanding during Q1 2022, thus no defaults to report - No senior securities were issued and outstanding during the three months ended March 31, 2022[127](index=127&type=chunk) [Mine Safety Disclosures](index=21&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's business operations - Not applicable to our Company[128](index=128&type=chunk) [Other Information](index=21&type=section&id=Item%205.%20Other%20information) This section discloses a significant corporate action: the cancellation of **120,418,995** common shares in April 2022, reducing total outstanding shares to **185,032,503** - On April 13, 2022, the Company cancelled **120,418,995** shares of Common Stock, decreasing the outstanding shares from **305,451,498** to **185,032,503**[128](index=128&type=chunk) [Exhibits](index=22&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the 10-Q report, including certifications from the CEO and CFO and financial statements in XBRL format - The report includes certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act of 2002 and financial statements formatted in XBRL[129](index=129&type=chunk)

[Cover Page](index=1&type=section&id=Cover%20Page) This is an Annual Report on Form 10-K for WeTrade Group Inc. for the fiscal year ended December 31, 2021 - This is an Annual Report on Form 10-K for WeTrade Group Inc. for the fiscal year ended December 31, 2021[1](index=1&type=chunk) - The registrant is a smaller reporting company and an emerging growth company[3](index=3&type=chunk) [Cautionary Note Regarding Forward-Looking Statements](index=2&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) The report contains forward-looking statements subject to risks and uncertainties, identified by terms like "may," "will," "expect," and "believe" - The report contains forward-looking statements subject to risks and uncertainties, identified by terms like "may," "will," "expect," and "believe." These statements are based on information available at the time and are not guarantees of future performance[10](index=10&type=chunk)[11](index=11&type=chunk) - Key risk factors include the ability to raise capital, identify and execute acquisitions, general economic conditions, and significant competition[12](index=12&type=chunk) [PART I](index=3&type=section&id=PART%20I) [Business](index=3&type=section&id=Item%201.%20Business) WeTrade Group Inc. provides technical services and solutions through its social e-commerce platform, primarily the "YCloud" system, targeting micro-businesses in China [Overview](index=3&type=section&id=Overview) The company provides technical and auto-billing management services to micro-business online stores in China via its independently developed social e-commerce platform, "YCloud" - WeTrade Group Inc. is a technology service provider focused on social e-commerce, utilizing its proprietary "YCloud" system[14](index=14&type=chunk) - The YCloud system's main functions include managing user marketing relationships, CPS commission profit management, multi-channel data statistics, AI fission and management, and supply chain systems[16](index=16&type=chunk) - The company provides YCloud access to two primary customers, Weijiafu and Changtongfu, who in turn serve micro-business owners and businesses in the hotel and travel industries[15](index=15&type=chunk) [Corporate History and Structure](index=4&type=section&id=Corporate%20History%20and%20Structure) WeTrade Group, Inc. was incorporated in Wyoming in 2019, operating through wholly-owned subsidiaries in Singapore, Hong Kong, and mainland China - The company operates through a multi-layered corporate structure with a US parent company and subsidiaries in Singapore, Hong Kong, and mainland China[17](index=17&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) [Our Industry](index=5&type=section&id=Our%20Industry) The company operates in China's growing social e-commerce market, targeting micro-businesses, which is projected to expand significantly - The target market of micro-businesses in China is projected to grow from **60 million people in 2019 to 330 million in 2023**[23](index=23&type=chunk)[25](index=25&type=chunk) - The company operates within the S2B2C (Supplier-to-Business-to-Consumer) model, connecting suppliers with small shop owners who then manage sales to consumers[24](index=24&type=chunk) - Key competitors in the third-party service provider space include Weimob (**15.3% market share**) and Youzan (**7.3% market share**)[26](index=26&type=chunk) [YCloud System](index=6&type=section&id=YCloud) YCloud is presented as the first global micro-business cloud intelligence system, offering integrated payment processing, AI-driven user analysis, and cross-platform supply chain integration - YCloud provides integrated payment methods and analytics, allowing micro-business owners to accept payments through various channels while managing revenue through a single system[28](index=28&type=chunk)[29](index=29&type=chunk) - The system uses AI to analyze user behavior across multiple apps to provide tailored recommendations and displays[32](index=32&type=chunk) - It features a supply chain system that integrates supply, sales, finance, and service, connecting suppliers and customers seamlessly[32](index=32&type=chunk) [Revenue Model](index=7&type=section&id=Revenue%20Model) The company's revenue is derived from service fees charged for transactions conducted through the YCloud platform, ranging from **2% to 3.5% of Gross Merchandise Volume (GMV)** - Revenue is generated from service fees calculated as a percentage of Gross Merchandise Volume (GMV)[37](index=37&type=chunk) - The service fee rate ranges from **2% to 3.5% of GMV**[37](index=37&type=chunk) [Growth Strategy](index=8&type=section&id=Growth%20Strategy) The company's growth strategy focuses on expanding its micro-business user base, entering new industries, forming strategic partnerships, and pursuing global expansion - Core Business Growth: Capitalize on the expected increase of micro-business runners in China to **330 million by 2023**[42](index=42&type=chunk) - New Industry Expansion: Target industries like beauty, tourism, hospitality, and live commerce[43](index=43&type=chunk) - Global Expansion: Plan to cooperate with international social media platforms including Kakao Talk, Line, and Whatsapp[44](index=44&type=chunk) [Intellectual Property](index=9&type=section&id=Intellectual%20Property) The company protects its technology through a portfolio of intellectual property, including registered copyrights for its software systems, a trademark, and several domain names Registered Copyrights | Copyright Number | Issue Date | Category | Copyright Name | |---|---|---|---| | 2020SR0413838 | 2020/05/07 | Software | WePay System V1.0 | | 2020SR0318464 | 2020/04/09 | Software | Yueshang Social E-commerce Revenue Management System | | 2020SR1899615 | 2020/12/25 | Software | Changtongfu Revenue Management System V1.0 | | 2020SR1918178 | 2020/12/30 | Software | Zhinengfu Revenue Management System V1.0 | | 2021SR0044549 | 2021/01/08 | Software | Micro-business Cloud Intelligent System V1.0 | - The company owns one trademark registered in Singapore and six domain names, including ycloud.online and wetradegroup.net[49](index=49&type=chunk)[51](index=51&type=chunk) [Employees](index=10&type=section&id=Employees) As of the report date, the company had **76 full-time employees**, with the technology department comprising the largest portion at **46 employees** Employees by Function | Functional Area | Number of Employees | |---|---| | Technology | 46 | | General and Administrative | 8 | | Financial Department | 9 | | Strategic Department | 5 | | Human Resource | 4 | | Operating | 4 | | **Total** | **76** | [Regulations](index=10&type=section&id=Regulations) The company's operations are subject to a complex set of laws and regulations in both the People's Republic of China (PRC) and Hong Kong, covering areas like internet security, foreign investment, and taxation - In the PRC, the company is subject to the Cyber Security Law, which governs the collection, use, and protection of personal data[58](index=58&type=chunk)[59](index=59&type=chunk) - Foreign investment is governed by the Foreign Investment Law and the Negative List, with the company's PRC subsidiary, Yueshang Beijing, being a Wholly Foreign-invested Enterprise[61](index=61&type=chunk)[62](index=62&type=chunk)[65](index=65&type=chunk) - The company is subject to PRC Enterprise Income Tax (EIT) at a rate of **25%** for its resident enterprises and a Value-added Tax (VAT) rate of **6%**[75](index=75&type=chunk)[78](index=78&type=chunk) [Risk Factors](index=16&type=section&id=Item%201A.%20Risk%20Factors) This section is not applicable as the company qualifies as a smaller reporting company - Disclosure for this item is not required because WeTrade Group Inc. is a smaller reporting company[92](index=92&type=chunk) [Unresolved Staff Comments](index=16&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments - There are no unresolved staff comments as of the report date[92](index=92&type=chunk) [Properties](index=16&type=section&id=Item%202.%20Properties) The company's principal executive office is a leased space of **6,216.64 square meters** in Beijing, China, with a monthly rent of approximately **RMB 414,106** Principal Office Lease Details | Address | Space (sq. meters) | Lease Term | Average Monthly Rent | |---|---|---|---| | No. 18, Kechuang 10th Street, Beijing Economic and Technological Development Zone, Beijing, China | 6,216.64 | Sep 16, 2020 - Sep 15, 2025 | RMB 414,105.93 | [Legal Proceedings](index=16&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings and is not aware of any pending or potential legal actions - There are no active or threatened legal proceedings against the company[95](index=95&type=chunk) [Mine Safety Disclosures](index=16&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's business - Not applicable[95](index=95&type=chunk) [PART II](index=16&type=section&id=PART%20II) [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=16&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity,%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) As of December 31, 2021, there were approximately **370 holders of record** of the company's common stock, with no cash dividends declared or equity repurchases made - As of December 31, 2021, there were approximately **370 holders of record** of common stock[96](index=96&type=chunk) - The company has not paid cash dividends and intends to retain earnings for business development[97](index=97&type=chunk) - No equity securities were repurchased by the company during the fiscal year ended December 31, 2021[99](index=99&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%206.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) The company's revenue grew significantly from **$6.3 million in 2020 to $14.4 million in 2021**, driven by increased Gross Merchandise Volume (GMV), with net income rising to **$5.2 million** [Results of Operations](index=17&type=section&id=Results%20of%20Operations) Total revenue increased by **129% to $14.4 million in FY2021** from **$6.3 million in FY2020**, primarily due to a substantial increase in Gross Merchandise Volume (GMV) Results of Operations (FY2021 vs. FY2020) | Metric | FY 2021 | FY 2020 | |---|---|---| | Total Revenue | $14,381,295 | $6,271,564 | | Gross Profit | $11,699,356 | $5,655,969 | | General & Admin | ($5,705,063) | ($1,901,336) | | Operations Profit | $5,994,293 | $3,754,633 | | Net Income | $5,175,675 | $2,675,037 | Gross Merchandise Volume (GMV) (FY2021 vs. FY2020) | GMV Source | 2021 US$ | 2020 US$ | |---|---|---| | Non-related party | 292,177,817 | 10,437,687 | | Related party | 139,359,179 | 153,038,677 | | **Total** | **431,536,996** | **163,476,364** | [Liquidity and Capital Resources](index=18&type=section&id=Liquidity%20and%20Capital%20Resources) As of December 31, 2021, total assets were **$19.5 million** and total liabilities were **$4.9 million**, with cash decreasing to **$0.6 million** primarily due to a **$3.8 million** cash outflow from operating activities Balance Sheet Summary (As of Dec 31) | Metric | 2021 | 2020 | |---|---|---| | Cash and Cash equivalents | $616,593 | $4,640,603 | | Total Assets | $19,470,524 | $13,542,707 | | Total Liabilities | $4,941,202 | $4,648,822 | | Total Stockholders' Equity | $14,529,322 | $8,893,885 | - Net cash used in operating activities was **$3.75 million in 2021**, a significant shift from **$1.16 million provided by operating activities in 2020**, mainly due to a **$3.9 million increase in trade receivables** and a **$2.9 million increase in prepaid expenses**[114](index=114&type=chunk) [Controls and Procedures](index=20&type=section&id=Item%209.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of December 31, 2021, due to identified material weaknesses in internal control over financial reporting - Management concluded that disclosure controls and procedures were not effective as of the end of the reporting period[125](index=125&type=chunk) - Material weaknesses in internal control over financial reporting were identified, including issues with internal audit functions, segregation of duties, and lack of multiple review levels[128](index=128&type=chunk) [PART III](index=21&type=section&id=PART%20III) [Directors, Executive Officers, and Corporate Governance](index=21&type=section&id=Item%2010.%20Directors,%20Executive%20Officers,%20and%20Corporate%20Governance) The company is led by a board of nine directors, a majority of whom are independent, with key executive officers including Zheng Dai (Chairman), Pijun Liu (CEO), and Kean Tat Che (CFO) Key Directors and Executive Officers | Name | Age | Position | |---|---|---| | Zheng Dai | 46 | Director and Chairman of the Board | | Pijun Liu | 39 | Chief Executive Officer and Director | | Kean Tat Che | 39 | Chief Financial Officer, Secretary and Director | | Zhuo Li | 33 | Chief Operation Officer and Director | | Biming Guo | 49 | Independent Director, Chair of Audit Committee | - The Board of Directors consists of **nine members**, with a majority being independent[146](index=146&type=chunk) - The company has established an Audit Committee, a Compensation Committee, and a Nominating Committee, with specified compositions and responsibilities[149](index=149&type=chunk)[150](index=150&type=chunk)[151](index=151&type=chunk) [Executive Compensation](index=25&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation for 2021 included salaries and bonuses for key officers, with all amounts accrued and deferred, contingent upon the company's Nasdaq listing 2021 Named Executive Officer Compensation | Name and Principal Position | Salary ($) | Bonus ($) | Total ($) | |---|---|---|---| | Pijun Liu, CEO | 80,000 | 8,000 | 88,000 | | Kean Tat Che, CFO | 50,000 | 5,000 | 55,000 | | Zheng Dai, CTO | 80,000 | 8,000 | 88,000 | | Zhuo Li, COO | 50,000 | 5,000 | 55,000 | - Compensation payments for named executive officers and independent directors have been deferred until the company is listed on Nasdaq[157](index=157&type=chunk)[161](index=161&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=26&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) The company's ownership is concentrated among a few key entities and individuals, with Future Science and Technology Co Ltd holding **28.5%** and all executive officers and directors as a group owning approximately **39.86%** Beneficial Ownership | Owner | Percentage Ownership | |---|---| | Future Science and Technology Co Ltd (Zheng Dai) | 28.5% | | AiShangYou Limited | 26.8% | | LD Property Limited | 5.9% | | All executive officers and directors as a group | 39.86% | [Certain Relationships and Related Transactions, and Director Independence](index=27&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions,%20and%20Director%20Independence) The company engaged in several transactions with related parties, with amounts due to related parties totaling **$1.1 million** as of December 31, 2021 - The company has transactions with entities where its CEO, Liu Pijun, and other directors have beneficial interests[167](index=167&type=chunk) Amount Due to Related Parties (as of Dec 31, 2021) | Item | Amount | |---|---| | Related parties payable | $745,532 | | Director fee payable | $360,000 | | **Total** | **$1,105,532** | - A related party loan of **$140,000** from Global Joy Trip Ltd was forgiven in January 2021 as the entity was dissolved[172](index=172&type=chunk) [Principal Accounting Fees and Services](index=28&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) The company incurred total fees of **$133,000** from its principal accountant in fiscal year 2021, primarily for audit services Accountant Fees (FY2021 vs. FY2020) | Fee Type | 2021 | 2020 | |---|---|---| | Audit Fees | $95,000 | $100,300 | | Tax Fees | $8,000 | $3,000 | | All Other Fees | $30,000 | $30,000 | | **Total Fees** | **$133,000** | **$133,300** | [PART IV](index=29&type=section&id=PART%20IV) [Exhibits, Financial Statement Schedules](index=29&type=section&id=Item%2015.%20Exhibits,%20Financial%20Statement%20Schedules) This section lists the documents filed as part of the annual report, including consolidated financial statements and various certifications - The filing includes the consolidated financial statements for the years ended December 31, 2021 and 2020[183](index=183&type=chunk) - Certifications from the Principal Executive Officer and Principal Financial Officer pursuant to Sarbanes-Oxley Sections 302 and 906 are filed with the report[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk) [FINANCIAL STATEMENTS](index=30&type=section&id=FINANCIAL%20STATEMENTS) [Report of Independent Registered Public Accounting Firm](index=30&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) The independent auditor, TAAD LLP, issued an unqualified opinion on the consolidated financial statements for the years ended December 31, 2021 and 2020, confirming fair presentation in conformity with U.S. GAAP - The auditor, TAAD LLP, provided an unqualified (clean) opinion on the company's consolidated financial statements[188](index=188&type=chunk) - The audit was conducted in accordance with the standards of the Public Company Accounting Oversight Board (PCAOB)[191](index=191&type=chunk) [Consolidated Financial Statements](index=31&type=section&id=Consolidated%20Financial%20Statements) This section contains the core consolidated financial statements of WeTrade Group Inc., including Balance Sheets, Statements of Operations, Statements of Changes in Stockholders' Equity, and Statements of Cash Flows Consolidated Net Income Per Share | Metric | 2021 | 2020 | |---|---|---| | Net Income | $5,175,675 | $2,675,037 | | Weighted average shares outstanding | 305,451,498 | 304,166,073 | | Net income per share - basic and diluted | $0.02 | $0.01 | [Notes to the Consolidated Financial Statements](index=34&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes provide detailed disclosure on the company's accounting policies and financial figures, covering revenue recognition, related party transactions, and significant receivables - Revenue is recognized based on a **2%-3.5% service fee** on the total Gross Merchandise Volume (GMV) generated through the YCloud platform[239](index=239&type=chunk) - A significant credit risk concentration exists, with **100% of the $9.2 million in accounts receivable** as of Dec 31, 2021, due from two main customers, with the balance fully settled post-reporting date[217](index=217&type=chunk)[255](index=255&type=chunk) - The company has a short-term note receivable of **$3.8 million** from a third party, bearing an annual interest rate of **5%** and maturing in November 2022[257](index=257&type=chunk) - The company's major operations are in the PRC, where the corporate income tax rate ranges from **9% to 25%**, and for FY2021, the company recorded an income tax expense of **$1,122,283**[279](index=279&type=chunk)[280](index=280&type=chunk)

[PART I – FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section presents the unaudited financial statements, management's analysis of operations, market risk disclosures, and controls and procedures for the period ended June 30, 2021 [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited financial statements for the period ended June 30, 2021, show significant growth in revenue and net income compared to the prior year, with total assets increasing to $15.7 million driven by higher receivables and prepayments [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2021, total assets grew to **$15.7 million** from **$13.5 million** at year-end 2020, primarily due to increases in accounts receivable, note receivable, and prepayments, leading to a significant increase in total stockholders' equity to **$11.5 million** Balance Sheet Summary (as of June 30, 2021 vs. Dec 31, 2020) | Metric | June 30, 2021 ($) | Dec 31, 2020 ($) | | :--- | :--- | :--- | | **Total Current Assets** | 12,903,623 | 10,415,582 | | **Total Assets** | 15,725,732 | 13,542,707 | | **Total Current Liabilities** | 2,030,207 | 2,177,224 | | **Total Liabilities** | 4,217,568 | 4,648,822 | | **Total Stockholders' Equity** | 11,508,164 | 8,893,885 | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) The company reported substantial year-over-year growth for the six months ended June 30, 2021, with revenue reaching **$6.66 million**, a significant increase from **$0.88 million** in the prior-year period, and net income rising to **$2.49 million** from **$0.57 million** Six Months Ended June 30, 2021 vs 2020 | Metric | Six Months 2021 ($) | Six Months 2020 ($) | | :--- | :--- | :--- | | **Total Service Revenue** | 6,663,816 | 876,363 | | **Gross Profit** | 6,327,049 | 876,363 | | **Profit from Operations** | 2,670,403 | 578,665 | | **Net Income** | 2,494,114 | 566,233 | | **EPS (basic and diluted)** | 0.01 | 0.00 | Three Months Ended June 30, 2021 vs 2020 | Metric | Three Months 2021 ($) | Three Months 2020 ($) | | :--- | :--- | :--- | | **Total Service Revenue** | 3,882,893 | 855,293 | | **Gross Profit** | 3,692,434 | 855,293 | | **Profit from Operations** | 1,924,977 | 582,685 | | **Net Income** | 1,842,030 | 570,253 | | **EPS (basic and diluted)** | 0.01 | 0.00 | [Consolidated Statements of Cash Flows](index=4&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2021, the company experienced a net cash outflow of **$1.43 million**, reducing its cash balance to **$3.21 million**, primarily due to increases in receivables and prepayments despite a net income of **$2.49 million** Cash Flow Summary (Six Months Ended June 30, 2021 vs 2020) | Metric | 2021 ($) | 2020 ($) | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | (962,389) | (1,199,684) | | **Net Cash Used in Investing Activities** | (170,265) | 0 | | **Net Cash Provided by Financing Activities** | 0 | 219,202 | | **Change in Cash and Cash Equivalents** | (1,430,139) | (1,041,102) | | **Cash and Cash Equivalents, End of Period** | 3,210,464 | 5,550,026 | [Notes to Financial Statements](index=6&type=section&id=Notes%20to%20Financial%20Statements) The notes detail the company's business, accounting policies, and specifics of financial statement line items, including its 'YCloud' social e-commerce platform in China, revenue generation from service fees, and a significant short-term note receivable - The company's business involves providing technical services and solutions via its membership-based social e-commerce platform, **'YCloud'**, to micro-business online stores in China[19](index=19&type=chunk) - Revenue is generated from service fees, typically **3.5%** of the total Gross Merchandise Volume (GMV) generated on the platform[58](index=58&type=chunk) - For the six months ended June 30, 2021, the company generated **$6,663,816** in revenue from two customers[58](index=58&type=chunk) - The company has a short-term note receivable of **RMB 30 million** (approx. **$4.65 million**) from a third party, with an annual interest rate of **5%**, maturing on November 4, 2021, with a balance of **$3,665,808** as of June 30, 2021[70](index=70&type=chunk)[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant revenue increase for the three and six-month periods ended June 30, 2021, to new customer acquisition, with corresponding rises in expenses due to increased payroll for new staff, and a decrease in cash position due to a new short-term loan and prepayments Results of Operations (Six Months Ended June 30) | Metric | 2021 ($) | 2020 ($) | | :--- | :--- | :--- | | **Revenue** | 6,663,816 | 876,363 | | **Gross Profit** | 6,327,049 | 876,363 | | **General & Administrative Expenses** | (3,656,646) | (297,698) | | **Net Income** | 2,494,114 | 566,233 | - The increase in revenue for the six months ended June 30, 2021, was mainly due to service revenue generated from new customers[91](index=91&type=chunk) - The increase in general and administrative expenses was mainly due to higher payroll expenses from new staff recruited for software development[92](index=92&type=chunk) - Cash on hand decreased to **$3,210,464** as of June 30, 2021, mainly due to an additional short-term loan of approximately **$1.37 million** to a third party and prepayment of office furniture[99](index=99&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=18&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a 'smaller reporting company,' the company is not required to provide this information - As a 'smaller reporting company' as defined by Item 10(f)(1) of Regulation S-K, the company is not required to provide quantitative and qualitative disclosures about market risk[104](index=104&type=chunk) [Controls and Procedures](index=18&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of June 30, 2021, due to identified material weaknesses, despite believing the financial statements are materially correct - Management concluded that disclosure controls and procedures were **not effective** as of the period ending June 30, 2021[106](index=106&type=chunk) - Material weaknesses identified include: lack of an audit committee, lack of a majority of outside directors, management dominated by two individuals, lack of segregation of duties within accounting, and lack of multiple levels of review of accounting data[106](index=106&type=chunk)[107](index=107&type=chunk) [PART II – OTHER INFORMATION](index=19&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, unregistered sales of equity securities, other miscellaneous items, and a list of exhibits filed with the report [Legal Proceedings](index=19&type=section&id=Item%201.%20Legal%20Proceedings) The company was not subject to any legal proceedings during the three months ended June 30, 2021, and is not aware of any threatened or pending proceedings - The company was not subject to any legal proceedings during the quarter ended June 30, 2021[112](index=112&type=chunk) [Risk Factors](index=19&type=section&id=Item%201A.%20Risk%20Factors) As a 'smaller reporting company,' the company is not required to provide this information - The company is a 'smaller reporting company' and is not required to provide information on risk factors in its Form 10-Q[113](index=113&type=chunk) [Unregistered Sales of Equity Securities And Use Of Proceeds](index=19&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20And%20Use%20Of%20Proceeds) There were no recent sales of unregistered securities as of June 30, 2021, with a total of **305,451,498** outstanding shares - As of June 30, 2021, there were no recent sales of unregistered securities, and total outstanding shares were **305,451,498**[113](index=113&type=chunk) [Other Items (3, 4, 5)](index=19&type=section&id=Other%20Items%20%283%2C%204%2C%205%29) The company reported no defaults upon senior securities, no mine safety disclosures as it is not applicable, and no other information to disclose for the period - Item 3: No defaults upon senior securities were reported[114](index=114&type=chunk) - Item 4: Mine safety disclosures are not applicable[114](index=114&type=chunk) - Item 5: No other information was reported[114](index=114&type=chunk) [Exhibits](index=19&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including officer certifications (Sarbanes-Oxley Sections 302 and 906) and Inline XBRL data files - The report includes certifications from the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act of 2002[115](index=115&type=chunk) - Inline XBRL documents are included as exhibits[115](index=115&type=chunk)

Part I [Business](index=3&type=section&id=Item%201.%20Business) WeTrade Group Inc. provides technical services and solutions via its membership-based social e-commerce platform, centered on the 'YCloud' system for micro-businesses in China - The company's core business is providing technical services and solutions via its social e-commerce platform, centered around the independently developed **"YCloud" system** for micro-businesses in China[12](index=12&type=chunk) - The YCloud system's main functions include managing user marketing relationships, CPS commission profit management, multi-channel data statistics, AI fission and management, and an improved supply chain system[15](index=15&type=chunk) - The company's primary competitor is identified as **China Youzan Limited**, with WeTrade differentiating itself by focusing on the micro-business industry and digital transaction simplicity[24](index=24&type=chunk) - As of the report date, the company has **89 full-time employees**, with **60 personnel in Research & Development**, accounting for **64.5%** of the total workforce[48](index=48&type=chunk) Intellectual Property Summary | Type | Count | | :--- | :--- | | Registered Copyrights | 2 | | Registered Trademarks | 4 | | Registered Domain Names | 4 | [Risk Factors](index=9&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from evolving markets, reliance on third-party platforms, external events like pandemics, and potential data security breaches - The company's success is contingent on its ability to develop new products and adapt to rapid technological changes in e-commerce, mobile commerce, and payment integration services[49](index=49&type=chunk)[51](index=51&type=chunk) - The business is dependent on the ability of its products to integrate with various operating systems and e-commerce platforms like **WeChat**, and changes in these systems could adversely affect the company[53](index=53&type=chunk) - The **COVID-19 pandemic** is identified as a significant risk factor that has caused a severe decline in global travel and could materially affect the company's business and financial condition[55](index=55&type=chunk)[56](index=56&type=chunk) - Operations are vulnerable to interruptions or failures of its technology systems or those of third-party providers, which could damage the company's reputation and harm operating results[57](index=57&type=chunk)[58](index=58&type=chunk) - The business involves collecting and storing users' personal data, making it vulnerable to cyberattacks and security breaches, which could lead to significant legal, regulatory, and financial exposure[60](index=60&type=chunk)[62](index=62&type=chunk) [Unresolved Staff Comments](index=11&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that there are no unresolved staff comments - None[63](index=63&type=chunk) [Properties](index=12&type=section&id=Item%202.%20Properties) The company details its leased properties, including a new headquarters lease in Beijing effective from September 2020 to September 2025 New Headquarters Lease Details | Lease Term | Address | Space (sqm) | Avg. Monthly Rent (RMB) | | :--- | :--- | :--- | :--- | | Sep 16, 2020 to Sep 15, 2025 | No. 18, Kechuang 10th Street, Beijing | 6,216.64 | 414,105.93 | [Legal Proceedings](index=12&type=section&id=Item%203.%20Legal%20Proceedings) The company states that it is not currently involved in any legal proceedings and is not aware of any pending or potential legal actions - The company is not currently involved in any legal proceedings[66](index=66&type=chunk) [Mine Safety Disclosures](index=12&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's business - Not applicable[66](index=66&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=12&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) As of December 31, 2020, the company had approximately 370 common stock holders, with no cash dividends declared or equity compensation plans in place - As of December 31, 2020, there were approximately **370 holders** of record of the company's common stock[68](index=68&type=chunk) - The company has not declared any cash dividends and intends to retain future earnings to finance business development and expansion[69](index=69&type=chunk) - As of December 31, 2020, there were no compensation plans for equity security issuance and no recent sales of unregistered securities[70](index=70&type=chunk)[71](index=71&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=13&type=section&id=Item%206.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) The company reported $6.27 million in revenue and $2.68 million net income in 2020, a significant turnaround from 2019, with growth in assets and positive operating cash flow Results of Operations (2020 vs. 2019) | Metric | FY 2020 | FY 2019 | | :--- | :--- | :--- | | **Total Revenue** | **$6,271,564** | **$0** | | Gross Profit | $5,655,969 | - | | General & Admin Expenses | ($1,901,336) | ($417,407) | | **Net Income / (Loss)** | **$2,675,037** | **($417,407)** | Balance Sheet Summary (As of Dec 31) | Metric | 2020 | 2019 | | :--- | :--- | :--- | | Cash and Cash equivalents | $4,640,603 | $6,591,128 | | Total Assets | $13,542,707 | $6,591,128 | | Total Liabilities | $4,648,822 | $1,786,515 | | Total Stockholders' Equity | $8,893,885 | $4,804,613 | - Cash provided by operating activities increased by approximately **$1.3 million**, from a use of **$130,892** in 2019 to a provision of **$1,162,337** in 2020[91](index=91&type=chunk) - Cash used in financing activities was **$3.68 million** in 2020, a shift from cash provided by financing activities of **$6.72 million** in 2019, mainly due to loan repayments to related parties and new loans to third parties[92](index=92&type=chunk) [Controls and Procedures](index=15&type=section&id=Item%209.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of December 31, 2020, due to identified material weaknesses in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were **not effective** as of the end of the period covered by the report[93](index=93&type=chunk) - **Material weaknesses** were identified in internal control over financial reporting, related to: (i) internal audit functions; (ii) a lack of segregation of duties within accounting; and (iii) the lack of multiple levels of review of accounting data[95](index=95&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=16&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) This section outlines the company's directors, executive officers, Board committee structures, and notes the absence of a formal Code of Ethics Directors and Executive Officers | Name | Age | Title | | :--- | :--- | :--- | | Zheng Dai | 45 | Chairman of the Board | | Pijun Liu | 38 | Chief Executive Officer and Director | | Kean Tat Che | 38 | Chief Financial Officer, Secretary and Director | | Zhuo Li | 32 | Chief Operation Officer and Director | | Donghui Wang | 49 | Independent Director and Chair of Audit Committee | | Daxue Li | 50 | Independent Director and Chair of Compensation Committee | | Yuxing Ye | 41 | Independent Director and Chair of Nominating Committee | | Hung Fai Choi | 35 | Independent Director | | Ning Qin | 39 | Independent Director | - The Board has established an Audit Committee, a Compensation Committee, and a Nominating Committee, with charters approved by the Board[113](index=113&type=chunk) - The company has not adopted a formal Code of Ethics, with the Board determining that general rules of fiduciary duty and existing laws are adequate ethical guidelines for its current operational size[120](index=120&type=chunk) [Executive Compensation](index=18&type=section&id=Item%2011.%20Executive%20Compensation) The company details executive and director compensation effective March 1, 2021, with no stock options exercised or long-term incentive awards made in the last fiscal year - Effective March 1, 2021, Chairman Zheng Dai and CEO Pijun Liu are entitled to a monthly salary of **$8,000** each[111](index=111&type=chunk) - Effective March 1, 2021, CFO Kean Tat Che and COO Zhuo Li are entitled to a monthly salary of **$5,000** each[111](index=111&type=chunk) - Effective March 1, 2021, all independent non-executive directors are entitled to a monthly salary of **$2,000**[112](index=112&type=chunk) - No stock options were exercised by executive officers, and no awards were made under any Long-Term Incentive Plan in the last fiscal year[113](index=113&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=21&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) This section details beneficial ownership of common stock, with directors and executive officers collectively owning 39.86% and key 5% holders identified Security Ownership of Major Holders | Name of Beneficial Owner | Percent of Class | | :--- | :--- | | **Directors and Executive Officers (as a group)** | **39.86%** | | Zheng, Dai | 28.5% | | **5% Security Holders** | | | Future Science and Technology Co Ltd | 28.5% | | AiShangYou Limited | 26.8% | | LD Property Limited | 5.9% | [Certain Relationships and Related Transactions, and Director Independence](index=22&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) The company reports no material related party transactions exceeding specified thresholds involving directors, executive officers, or major shareholders in the last two fiscal years - No director, executive officer, or shareholder holding at least **5%** of shares had any material interest in any transaction exceeding the lesser of **$120,000** or **1%** of the average total assets for the last two completed fiscal years[125](index=125&type=chunk) [Principal Accountant Fees and Services](index=22&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) The report discloses principal accountant fees for 2020 and 2019, totaling $280,300 and $282,000 respectively, primarily for audit and other services Accountant Fees (2019-2020) | Year | Audit Fees | Audit Related Fees | Tax Fees | All Other Fees | Total Fees | | :--- | :--- | :--- | :--- | :--- | :--- | | 2020 | $100,300 | $0 | $3,000 | $180,000 | $280,300 | | 2019 | $37,000 | $0 | $0 | $245,000 | $282,000 | Part IV [Exhibits, Financial Statement Schedules](index=22&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists documents filed as part of the annual report, including financial statements and various corporate and SEC-required certifications - The report includes the Reports of Independent Registered Public Accounting Firm and the following financial statements for the years ended December 31, 2020 and 2019: Balance Sheets, Statements of Operations, Statements of Stockholders' Equity, and Statements of Cash Flows[129](index=129&type=chunk)[130](index=130&type=chunk) Financial Statements [Report of Independent Registered Public Accounting Firm](index=24&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) TAAD LLP issued an unqualified opinion on the consolidated financial statements for 2020 and 2019, affirming fair presentation in conformity with U.S. GAAP - The auditor, TAAD LLP, expressed an unqualified opinion that the consolidated financial statements present fairly, in all material respects, the financial position of the Company in conformity with U.S. generally accepted accounting principles[140](index=140&type=chunk) - The audit was conducted in accordance with PCAOB standards, and the auditor was not engaged to perform an audit of the company's internal control over financial reporting[142](index=142&type=chunk) [Consolidated Financial Statements](index=25&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements for 2020 show significant growth in revenue and net income, with total assets increasing to $13.5 million and cash decreasing due to financing activities Consolidated Balance Sheet Data (As of Dec 31) | | 2020 | 2019 | | :--- | :--- | :--- | | **Total Assets** | **$13,542,707** | **$6,591,128** | | Total Current Assets | $10,680,492 | $6,591,128 | | **Total Liabilities** | **$4,648,822** | **$1,786,515** | | Total Current Liabilities | $2,177,224 | $1,786,515 | | **Total Stockholders' Equity** | **$8,893,885** | **$4,804,613** | Consolidated Statement of Operations Data (Year Ended Dec 31) | | 2020 | 2019 | | :--- | :--- | :--- | | **Revenue** | **$6,271,564** | **$0** | | Gross Profit | $5,655,969 | - | | **Net Income / (Loss)** | **$2,675,037** | **($417,407)** | | Comprehensive Income (Loss) | $3,253,772 | ($417,407) | | **EPS (basic and diluted)** | **$0.01** | **($0.00)** | Consolidated Statement of Cash Flows Data (Year Ended Dec 31) | | 2020 | 2019 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $1,162,337 | ($130,892) | | Net Cash from Financing Activities | ($3,682,142) | $6,722,020 | | **Change in Cash** | **($1,950,525)** | **$6,591,128** | | Cash at End of Period | $4,640,603 | $6,591,128 | [Notes to Financial Statements](index=28&type=section&id=Notes%20to%20Financial%20Statements) The notes detail revenue recognition from YCloud GMV, the adoption of ASC 842 for leases, related party balances, and subsequent events including a new loan and customized YCloud system development - Revenue is derived from service fees, charged at **2%-3.5%** of the total Gross Merchandise Volume (GMV) generated on the **YCloud platform**, through an agreement with Weijiafu[184](index=184&type=chunk) - The company adopted the new lease standard **ASC 842**, resulting in the recognition of a **$2,813,186** right-of-use asset and **$3,041,463** in lease liabilities on the December 31, 2020 balance sheet[175](index=175&type=chunk) - As of December 31, 2020, the amount due to related parties was **$416,500**, consisting of a **$140,000** loan from a company owned by Director Dai Zheng and **$276,500** in advances from directors[198](index=198&type=chunk)[202](index=202&type=chunk) - Subsequent to year-end, on January 27, 2021, the company appointed a third-party to develop a customized YCloud system for a PRC tobacco company at an estimated total cost of **RMB 7 million (approx. $1.08 million)**[206](index=206&type=chunk)

10-Q 1 wtg_10q.htm FORM 10-Q Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller Reporting Company ☒ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2020 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ...

10-Q 1 wtg_10q.htm FORM 10-Q Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller Reporting Company ☒ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2020 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____ ...

10-Q 1 wtg_10q.htm FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2020 ¨TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ WETRADE GROUP INC (Exact name of small business issuer as specified in its charter) WYOMING (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2019 ¨TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ WETRADE GROUP INC (Exact name of registrant as specified in its charter) | --- | --- | |------------------------------------------------------------ ...