0001551163-18-000119.txt : 20180801 0001551163-18-000119.hdr.sgml : 20180801 20180801113700 ACCESSION NUMBER: 0001551163-18-000119 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 23 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180801 DATE AS OF CHANGE: 20180801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Longwen Group Corp. CENTRAL INDEX KEY: 0000723533 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 953506403 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-16851 FILM NUMBER: 18983648 BUSINESS ADDRESS: STREET 1: 7702 E. DOUBLETREE RANCH ROAD STREET 2: SUITE 300 CITY: SCOTTSDALE STATE: AZ ZIP: 85258 BUSINESS PHONE: 480-607-4393 MAIL ADDRESS: STREET 1: 7702 E. DOUBLETREE RANCH ROAD STREET 2: SUITE 300 CITY: SCOTTSDALE STATE: AZ ZIP: 85258 FORMER COMPANY: FORMER CONFORMED NAME: Allied Ventures Holdings Corp. DATE OF NAME CHANGE: 20150223 FORMER COMPANY: FORMER CONFORMED NAME: Dephasium Corp. DATE OF NAME CHANGE: 20130305 FORMER COMPANY: FORMER CONFORMED NAME: ALLIED VENTURES HOLDING CORP. DATE OF NAME CHANGE: 20130104 10-Q 1 q2-longwenvedgar5.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION



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 June 30, 2018


[   ] Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to __________


Commission file number:  000-11596



LONGWEN GROUP CORP.


(Exact name of small business issuer as specified in its charter)





7702 E. Doubletree Ranch Road, Suite 300

Scottsdale, Arizona 85258

 (Address of principal executive offices)


(480) 607-4393

(Issuer telephone number)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ    No o


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, "non-accelerated filer,smaller reporting company and emerging growth company in Rule 12b-2 of the Exchange Act. (Check one):


Large accelerated filer



Accelerated filer


Non-accelerated filer

Smaller reporting company



Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes þ      No o


State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:   127,061 common shares issued and outstanding as of July 26, 2018.





1


LONGWEN GROUP CORP.


QUARTERLY REPORT ON FORM 10-Q


TABLE OF CONTENTS


 

 

Page

PART I

 FINANCIAL INFORMATION:





Item 1.

Financial Statements (Unaudited)

3





Condensed Balance Sheets as of June 30, 2018 and December 31, 2017 (unaudited)

3





Condensed Statements of Operations for the three and six months periods ended

June 30, 2018 and 2017 (unaudited)

4





Condensed Statements of Cash Flows for the six months period ended June 30, 2018 and 2017 (unaudited)

5





Notes to the Condensed Unaudited Financial Statements

6




Item 2.

Managements Discussion and Analysis of Financial Condition and Results of Operations

7


 


Item 3.

Quantitative and Qualitative Disclosures About Market Risk

9




Item 4.

Controls and Procedures

9




PART II

OTHER INFORMATION:





Item 1.

Legal Proceedings

9




Item 1A

Risk Factors

9




Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

9

 

 


Item 3.

Defaults Upon Senior Securities

9




Item 4.

Mining Safety Disclosures

10




Item 5.

Other Information

10




Item 6.

Exhibits

10




 

 Signatures





LONGWEN GROUP CORP.

 Balance Sheets

(unaudited)










ASSETS






June 30,



December 31,






2018



2017










CURRENT ASSETS
















Cash


$

                                  -


$

                                   -












TOTAL CURRENT ASSETS AND TOTAL ASSETS

 

                                  -


 

                                   -



















LIABILITIES AND STOCKHOLDERS' DEFICIT










CURRENT LIABILITIES
















Accounts payable and accrued expenses


                          2,130



                           6,753


Stockholder Advance

 

                        23,188


 

                         13,411












TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES

 

                        25,318


 

                         20,164










STOCKHOLDERS' DEFICIT
















Preferred stock, $0.0001 par value, 50,000,000







  shares authorized, no shares issued and outstanding







  as of June 30, 2018 and December 31, 2017


                                  -



                                   -


Common stock, $0.0001 par value, 550,000,000







   shares authorized, 127,061 shares issued and outstanding







  as of June 30, 2018 and December 31, 2017


                               13



                                13


Additional paid-in capital


                   2,667,846



                    2,667,846


Accumulated deficit


                 (2,693,177)



                  (2,688,023)












Total Stockholders' Deficit

 

                      (25,318)


 

                       (20,164)












TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT           

$

                                  -


$

                                   -










See accompanying notes to financial statements.


LONGWEN GROUP CORP.

 Statements of Operations

(unaudited)





















Three Months Ended



Six Months Ended





 

June 30,


 

June 30,





 

2018


 

2017


 

2018


 

2017
















REVENUES


$

                 -


$

                 -


$

                 -


$

                 -
















EXPENSES





























General and administrative



         4,654



         1,972



         5,154



         7,389


















Total Expenses


 

         4,654


 

         1,972


 

         5,154


 

         7,389

















LOSS BEFORE PROVISION

     FOR INCOME TAXES



        (4,654)



        (1,972)



        (5,154)



        (7,389)

















Provision for income taxes


 

-


 

-


 

-


 

-
















NET LOSS


$

        (4,654)


$

        (1,972)


$

        (5,154)


$

        (7,389)
















      LOSS PER SHARE - BASIC AND DILUTED


 

          (0.04)


 

          (0.02)


 

          (0.04)


 

          (0.06)
















WEIGHTED AVERAGE  OUTSTAND  SHARES













  BASIC AND DILUTED


 

     127,061


 

     127,061


 

     127,061


 

     127,061
















See accompanying notes to financial statements.


LONGWEN GROUP CORP.

 Statements of Cash Flows

(unaudited)















Six Months Ended June 30,





 

2018


 

2017

OPERATING ACTIVITIES
















 Net (loss)

 $

                (5,154)


 $

                 (7,389)


 Changes in operating assets and liabilities:








 Accounts payable and accrued expenses


                (4,623)



                 (3,100)



 Stockholder advance

 

                  9,777


 

                 10,489













 NET CASH USED BY OPERATING ACTIVITIES

 

                         -


 

                          -










 FINANCING ACTIVITIES

 

                         -


 

                          -












 NET (DECREASE) IN CASH

   

                         -



                          -












 CASH AT BEGINNING  








   OF PERIOD

 

 -


 

                          -












 CASH AT END OF PERIOD

 $

                         -


 $

                          -










See accompanying notes to financial statements.




5


LONGWEN GROUP CORP.

NOTES TO FINANCIAL STATEMENTS

AS OF JUNE 30, 2018

(unaudited)


NOTE 1  INTERIM FINANCIAL STATEMENTS


The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, these condensed financial statements do not include all of the information and footnotes required for audited annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the condensed financial statements not misleading have been included. The balance sheet at December 31, 2017, has been derived from the Companys audited financial statements as of that date.

 

The unaudited condensed financial statements included herein should be read in conjunction with the audited consolidated financial statements and the notes thereto that are included in the Companys Annual Report on Form 10-K for the year ended December 31, 2017, that was filed with the SEC on March 30, 2018. The results of operations for the six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  


Recent Accounting Pronouncements

The Company evaluated accounting pronouncements issued in 2018 and determined that none applied to the Companys financial statements and it does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on its financial position, results of operations or cash flows.


NOTE 3  GOING CONCERN

The Companys financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has not generated any revenues since inception. In addition, the Company has a working capital deficit of $25,318 and an accumulated deficit of $2,693,177 as of June 30, 2018.   These factors, among others, raise substantial doubt about the Companys ability to continue as a going concern. Management is considering options in order to address the Companys financing requirements. Those options include the possible sale of common stock and debt financing. There can be no assurance that management will be able to obtain the necessary financing needed to continue as a going concern.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.


NOTE 4  STOCKOLDER LOAN


The Company was advanced $23,188 by a shareholder for working capital purposes. The loan is non-interest bearing and is payable on demand.


NOTE 5  SUBSEQUENT EVENTS


The Company has evaluated subsequent events through the date these financial statements were issued. There have been no events that would require disclosure or adjustments to the financial statements.



ITEM 2.

MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


FORWARD LOOKING STATEMENT NOTICE


Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.


Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles.


GENERAL

Longwen Group Corp., (the Company), was originally incorporated on March 31, 1980, under the laws of the State of California as Expertelligence, Inc. On June 26, 2006, the Company reincorporated in Nevada.  On January 23, 2017, after a series of various name changes, the Company amended its Articles of Incorporation (Charter Amendment) to effect the current name change of Longwen Group Corp. The Charter Amendment was approved by our majority shareholder, who holds 52% of our outstanding voting securities, on December 6, 2016. In connection with the Charter Amendment,  on January 24, 2017, the Company received approval from the Financial Industry Regulatory Authority for its name change as stated above and voluntary trading symbol request from DHPS to LWLW.  


On or about April 5, 2016, the Company effected a 1 for 750 share reverse split of its issued and outstanding common stock. On such date, the Companys common stock was reduced from 95,164,140 to 127,061 shares outstanding.


Effective November 29, 2016, G. Reed Peterson sold  66,667 shares of common stock of the Company to Longwen Group Corp., a Grand Cayman company (Longwen). All of the shares held by Longwen are restricted securities.  As a result of the transactions, Mr. Petersen no longer owns any of the Companys capital stock or securities and he and his affiliates waived all loans and other amounts due to the Company. In addition, on such date, Mr. Petersen resigned in all officer capacities from the Company, and Mr. Xi Zhen Ye, President of Longwen, was appointed a Director of the Company and President and Chief Executive Officer and Chief Financial Officer of the Company and Mr. Keith Wong was appointed Chief Operating Officer of the Company. Mr. Ye also became the sole director of the Company. On May 1, 2018, Keith Wong resigned from Chief Operating Officer of the Company and all other capacities with the Company.


Plan of Operation


The Company is a shell company as defined in Rule 12b-2 of the Exchange Act. Our principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

 

The Company currently does not engage in any business activities that provide cash flow.  During the next twelve months we anticipate incurring costs related to:

 

(i)        filing Exchange Act reports, and

 

(ii)       investigating, analyzing and consummating an acquisition.

 

We believe we will be able to meet these costs through use of funds in our treasury, through deferral of fees by certain service providers and additional amounts, as necessary, to be loaned to or invested in us by our stockholders, management or other investors. As of the date of the period covered by this report, the Company has no cash. There are



7


no assurances that the Company will be able to secure any additional funding as needed. Currently, however our ability to continue as a going concern is dependent upon our ability to generate future profitable operations and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our ability to continue as a going concern is also dependent on our ability to find a suitable target company and enter into a possible reverse merger with such company. Managements plan includes obtaining additional funds by equity financing through a reverse merger transaction and/or related party advances; however there is no assurance of additional funding being available.

 

The Company may consider acquiring a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital but which desires to establish a public trading market for its shares while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

 


RESULTS OF OPERATIONS


THREE MONTH PERIOD ENDED JUNE 30, 2018 COMPARED TO THE THREE MONTH PERIOD ENDED JUNE 30, 2017


Net Loss


We have not generated income from operations during the three month periods ended June 30, 2018 and 2017, respectively. We had a Net Loss for the quarter ended June 30, 2018 of $4,654 consisting solely of general and administrative fees compared with a Net Loss of $1,972 for the quarter ended June 30, 2017. This increase was primarily due to an increase in accounting and legal expenses during the current quarter.


SIX MONTH PERIOD ENDED JUNE 30, 2018 COMPARED TO THE SIX MONTH PERIOD ENDED JUNE 30, 2017


Net Loss


We have not generated income from operations during the six month periods ended June 30, 2018 and 2017, respectively. We had a Net Loss for the six months ended June 30, 2018 of $5,154 consisting solely of general and administrative fees compared with a Net Loss of $7,389 for the quarter ended June 30, 2017. This decrease was primarily due to decrease in accounting and legal expenses during the current quarter.



Liquidity and Capital Resources


Our total assets as at June 30, 2018 and December 31, 2017, respectively, is $0.


Our working capital deficit as of June 30, 2018 is $25,318 compared with a working capital deficit as of December 31, 2017 of $20,164. The difference in working capital deficit is due to a decrease in accounts payable and accrued expenses offset by an increase in stockholder advance for the current quarterly period.


Management believes that without obtaining additional financing we will not be able to maintain our operations. Although we have actively been pursuing new business opportunities, we cannot give assurance that we will succeed in this endeavor, or be able to enter into necessary agreements to pursue our business on terms favorable to us. Should we be unable to generate additional revenues or raise additional capital, we could eventually be forced to cease business activities altogether.


The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Companys financial position and operating results raise substantial doubt about the Companys ability to continue as a going concern, as reflected by the Companys accumulated deficit of $2,693,177 at June 30, 2018. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.


Management is considering options in order to address the Companys financing requirements. Those options include the possible sale of common stock and debt financing. There can be no assurance that management will be able to obtain the necessary financing needed to continue as a going concern.

 

Contractual Obligations and Other Commercial Commitments


We currently do not have any obligations or commitments.


Warrants

 

As of June 30, 2018, we had no outstanding warrants.

 

Common Stock

 

As of June 30, 2018, there were 127,061 shares issued and outstanding.



OFF-BALANCE SHEET ARANGEMENTS


As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.


ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.


As a "smaller reporting company" as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.


ITEM 4.

CONTROLS AND PROCEDURES


Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commissions rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuers management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.


An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of June 30, 2018. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Management also confirmed that there was no change in our internal control over financial reporting during the three-month period ended June 30, 2018  that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.


PART II.

OTHER INFORMATION


ITEM 1.

LEGAL PROCEEDINGS


We know of no material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation.  There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.




ITEM 1A.

RISK FACTORS


As a "smaller reporting company" as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.


ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS


No unregistered equity securities were sold during the three and six months ended June 30, 2018.


ITEM 3.

DEFAULTS UPON SENIOR SECURITES


No senior securities were issued or outstanding during the three and six months ended June 30, 2018 or 2017.



ITEM 4.

MINE SAFETY DISCLOSURES


Not applicable to our Company.


ITEM 5.

OTHER INFORMATION


None


ITEM 6.

EXHIBITS


The following exhibits are included as part of this report by reference:





31.1 

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).




31.2 

 

Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).

 

 

 

32.1 

 

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.


32.2

Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.


SIGNATURES

 

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

LONGWEN GROUP CORP.

 

 

 

 

By:

/s/ Xi Zhen Ye

 

Name:

Xi Zhen Ye

 

Title:

Chief Executive Officer and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

 

Dated:     July 31, 2018





8


EX-31 2 ex31.htm Converted by EDGARwiz

CERTIFICATION PURSUANT TO RULE 13a-14 OR RULE 15d-14 OF THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 


I, Xi Zhen Ye, Chief Executive Officer and Chief Financial Officer, of Longwen Group Corp. (the Registrant), certify that:

1.          I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018 of the Registrant;

2.          Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.          Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4.          As the Registrants sole certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

             (a)          Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

             (b)          Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

             (c)          Evaluated the effectiveness of the Registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

             (d)          Disclosed in this report any change in the Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter (the Registrants fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting; and

5.          As the Registrants sole certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrants auditors and the audit committee of the Registrants board of directors (or persons performing the equivalent functions):

             (a)          All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrants ability to record, process, summarize and report financial information; and

             (b)          Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrants internal control over financial reporting.





Date: July 30, 2018

 

 

 /s/ Xi Zhen Ye

 

Xi Zhen Ye

 

Chief Executive Officer and

 

Chief Financial Officer




EX-32 3 ex32.htm Converted by EDGARwiz

Exhibit 32

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS
ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Longwen Group Corp.  (the Company), on Form 10-Q for the quarterly period ended June 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the Report), each of, the Principal Executive Officer and  Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

1.          The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.          The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.




 

 

/s/Xi Zhen Ye

 

 

 


 

Chief Executive Officer and

 

Chief Financial Officer

 


Dated: July 30, 2018




EX-101.INS 4 logc-20180630.xml 10-Q 2018-06-30 false Longwen Group Corp. 0000723533 logc --12-31 127061 127061 Non-accelerated Filer No No No 2018 Q2 <!--egx--> <p style='margin:0in;margin-bottom:.0001pt'><b><u>NOTE 1&nbsp;&#150;&nbsp;INTERIM FINANCIAL STATEMENTS</u></b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;GAAP&#148;) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (&#147;SEC&#148;). Accordingly, these condensed financial statements do not include all of the information and footnotes required for audited annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the condensed financial statements not misleading have been included. The balance sheet at December&nbsp;31, 2017, has been derived from the Company&#146;s audited financial statements as of that date.</p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'>The unaudited condensed financial statements included herein should be read in conjunction with the audited consolidated financial statements and the notes thereto that are included in the Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2017, that was filed with the SEC on March 8, 2018. The results of operations for the six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><u>NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</u></b>&nbsp;<b>&nbsp;</b></p> <p>&nbsp;</p> <p><b><u>Recent Accounting Pronouncements</u></b></p> <p style='margin:0in;margin-bottom:.0001pt'><font style='background:white'>The Company evaluated accounting pronouncements issued in 2018 and determined that none applied to the Company&#146;s financial statements and it does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on its financial position, results of operations or cash flows.</font></p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'><b><u>NOTE 3&nbsp;&#150;&nbsp;GOING CONCERN</u></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:8.35pt;margin-left:0in;text-indent:-1.5pt'>The Company&#146;s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has not generated any revenues since inception.&nbsp;In addition, the Company has a working capital deficit of $25,318 and an accumulated deficit of $2,693,177 as of June 30, 2018. &nbsp;&nbsp;These factors, among others, raise substantial doubt about the Company&#146;s ability to continue as a going concern.&nbsp;Management is considering options in order to address the Company&#146;s financing requirements. Those options include the possible sale of common stock and debt financing. There can be no assurance that management will be able to obtain the necessary financing needed to continue as a going concern.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'>The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><u><font style='background:white'>NOTE 4&nbsp;&#150;&nbsp;STOCKOLDER LOAN</font></u></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'>The Company was advanced $23,188 by a shareholder for working capital purposes. The loan is non-interest bearing and is payable on demand.</p> <!--egx--><p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'><b><u>NOTE 5&nbsp;&#150;&nbsp;SUBSEQUENT EVENTS</u></b></p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-indent:-1.5pt'>On May 1, 2018, Keith Wong resigned from Chief Operating Officer of the Company and all other capacities with the Company. There was no disagreement with the Company for his resignation.</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:-5.4pt;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> 2130 6753 23188 13411 25318 20164 13 13 2667846 2667846 -2693177 -2688023 -25318 -20164 4654 1972 5154 7389 4654 1972 5154 7389 -4654 -1972 -5154 -7389 -0.04 -0.03 -0.04 -0.17 127061 127061 127061 127061 -5154 -7389 -4623 -3100 9777 10489 0000723533 2018-01-01 2018-06-30 0000723533 2018-06-30 0000723533 2017-06-30 0000723533 2017-12-31 0000723533 2018-04-01 2018-06-30 0000723533 2017-04-01 2017-06-30 0000723533 2017-01-01 2017-06-30 iso4217:USD xbrli:shares iso4217:USD shares EX-101.SCH 5 logc-20180630.xsd 000080 - Disclosure - Note 4 - Stockolder Loan link:presentationLink link:definitionLink link:calculationLink 000090 - Disclosure - Note 5 - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 000020 - Statement - Balance Sheets link:presentationLink link:definitionLink link:calculationLink 000070 - Disclosure - Note 3 - Going Concern link:presentationLink link:definitionLink link:calculationLink 000040 - Statement - Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 000060 - Disclosure - Note 2 - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 000010 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 000030 - Statement - Statements of Operations link:presentationLink link:definitionLink link:calculationLink 000050 - Disclosure - Note 1 - Interim Financial Statements link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 6 logc-20180630_cal.xml EX-101.DEF 7 logc-20180630_def.xml EX-101.LAB 8 logc-20180630_lab.xml FINANCING ACTIVITIES WEIGHTED AVERAGE OUTSTANDING SHARES BASIC AND DILUTED EXPENSES Document Type Note 2 - Summary of Significant Accounting Policies Total Expenses Document Fiscal Period Focus Document Period End Date Notes CURRENT ASSETS Entity Filer Category Entity Registrant Name Accumulated deficit Note 1 - Interim Financial Statements ASSETS Current Fiscal Year End Date Amendment Flag Document Fiscal Year Focus Entity Well-known Seasoned Issuer Profit (loss) REVENUES {1} REVENUES Entity Common Stock, Shares Outstanding NET CASH USED BY OPERATING ACTIVITIES Note 3 - Going Concern TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT LIABILITIES AND STOCKHOLDERS' DEFICIT TOTAL CURRENT ASSETS AND TOTAL ASSETS TOTAL CURRENT ASSETS AND TOTAL ASSETS Cash Entity Public Float NET CASH PROVIDED BY FINANCING ACTIVITIES NET INCOME (LOSS) REVENUES Common stock value Changes in operating assets and liabilities: OPERATING ACTIVITIES Total Stockholders' Deficit Total Stockholders' Deficit Note 5 - Subsequent Events NET (DECREASE) IN CASH Additional paid-in capital Document and Entity Information: Note 4 - Stockolder Loan Adjustments to reconcile net loss to net cash used by operating activities: STOCKHOLDERS' DEFICIT TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES Accounts payable and accrued expenses {1} Accounts payable and accrued expenses Stockholder Advance Accounts payable and accrued expenses CURRENT LIABILITIES Related party payable General and administrative Entity Central Index Key LOSS PER SHARE - BASIC AND DILUTED Entity Voluntary Filers Entity Current Reporting Status Trading Symbol EX-101.PRE 9 logc-20180630_pre.xml XML 10 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Document and Entity Information:    
Entity Registrant Name Longwen Group Corp.  
Document Type 10-Q  
Document Period End Date Jun. 30, 2018  
Trading Symbol logc  
Amendment Flag false  
Entity Central Index Key 0000723533  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding 127,061  
Entity Public Float   $ 127,061
Entity Filer Category Non-accelerated Filer  
Entity Current Reporting Status No  
Entity Voluntary Filers No  
Entity Well-known Seasoned Issuer No  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q2  
XML 11 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
CURRENT LIABILITIES    
Accounts payable and accrued expenses $ 2,130 $ 6,753
Stockholder Advance 23,188 13,411
TOTAL CURRENT LIABILITIES AND TOTAL LIABILITIES 25,318 20,164
STOCKHOLDERS' DEFICIT    
Common stock value 13 13
Additional paid-in capital 2,667,846 2,667,846
Accumulated deficit (2,693,177) (2,688,023)
Total Stockholders' Deficit $ (25,318) $ (20,164)
XML 12 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
EXPENSES        
General and administrative $ 4,654 $ 1,972 $ 5,154 $ 7,389
Total Expenses 4,654 1,972 5,154 7,389
NET INCOME (LOSS) $ (4,654) $ (1,972) $ (5,154) $ (7,389)
LOSS PER SHARE - BASIC AND DILUTED $ (0.04) $ (0.03) $ (0.04) $ (0.17)
WEIGHTED AVERAGE OUTSTANDING SHARES BASIC AND DILUTED 127,061 127,061 127,061 127,061
XML 13 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Profit (loss) $ (5,154) $ (7,389)
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses (4,623) (3,100)
Related party payable $ 9,777 $ 10,489
XML 14 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 1 - Interim Financial Statements
6 Months Ended
Jun. 30, 2018
Notes  
Note 1 - Interim Financial Statements

NOTE 1 – INTERIM FINANCIAL STATEMENTS

 

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, these condensed financial statements do not include all of the information and footnotes required for audited annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the condensed financial statements not misleading have been included. The balance sheet at December 31, 2017, has been derived from the Company’s audited financial statements as of that date.

 

The unaudited condensed financial statements included herein should be read in conjunction with the audited consolidated financial statements and the notes thereto that are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, that was filed with the SEC on March 8, 2018. The results of operations for the six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year.

XML 15 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 2 - Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2018
Notes  
Note 2 - Summary of Significant Accounting Policies

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  

 

Recent Accounting Pronouncements

The Company evaluated accounting pronouncements issued in 2018 and determined that none applied to the Company’s financial statements and it does not expect the adoption of any other recently issued accounting pronouncements to have a significant impact on its financial position, results of operations or cash flows.

XML 16 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 3 - Going Concern
6 Months Ended
Jun. 30, 2018
Notes  
Note 3 - Going Concern

NOTE 3 – GOING CONCERN

The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company has not generated any revenues since inception. In addition, the Company has a working capital deficit of $25,318 and an accumulated deficit of $2,693,177 as of June 30, 2018.   These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management is considering options in order to address the Company’s financing requirements. Those options include the possible sale of common stock and debt financing. There can be no assurance that management will be able to obtain the necessary financing needed to continue as a going concern.

The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML 17 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 4 - Stockolder Loan
6 Months Ended
Jun. 30, 2018
Notes  
Note 4 - Stockolder Loan

NOTE 4 – STOCKOLDER LOAN

 

The Company was advanced $23,188 by a shareholder for working capital purposes. The loan is non-interest bearing and is payable on demand.

XML 18 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 5 - Subsequent Events
6 Months Ended
Jun. 30, 2018
Notes  
Note 5 - Subsequent Events

NOTE 5 – SUBSEQUENT EVENTS

 

On May 1, 2018, Keith Wong resigned from Chief Operating Officer of the Company and all other capacities with the Company. There was no disagreement with the Company for his resignation.

 

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