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, 2019
[ ] 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: 000-55996
W O GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
Florida |
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27-30434572 |
(State of other jurisdiction of |
|
(IRS Employer Identification |
incorporation or organization) |
|
Number) |
7702 E. Doubletree Ranch Road, Suite 300
Scottsdale, Arizona 85258
(Address of principal executive offices)
(480) 607-4393
(Registrants 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 [X] No [ ]
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes [X] No [ ]
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, smaller reporting company, and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer [ ]
Accelerated Filer
[ ]
Smaller Reporting Company
[X]
Non-Accelerated Filer [ ] (Do not check if a 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 [X] No [ ]
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 449,981,341 common shares issued and outstanding as of May 16, 2019.
1
WO GROUP INC. AND SUBSIDIARY
QUARTERLY REPORT ON FORM 10-Q
TABLE OF CONTENTS
2
PART 1. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
WO GROUP, INC. AND SUBSIDIARY Consolidated Balance Sheets (unaudited) |
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March 31, |
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December 31, |
||
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2019 |
|
2018 |
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ASSETS |
|
|
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Current Assets: |
|
|
|
||
Cash |
$ |
259 |
|
$ |
- |
Total current assets |
|
259 |
|
|
- |
|
|
|
|
|
|
Property and equipment, net |
|
2,263 |
|
|
- |
|
|
|
|
|
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Total Assets |
$ |
2,522 |
|
$ |
- |
|
|
|
|
|
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LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
|
|
|
|
|
|
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Accounts payable |
$ |
2,293 |
|
$ |
135 |
Due to related parties |
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45,355 |
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26,425 |
|
|
|
|
|
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Total Liabilities |
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47,648 |
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26,560 |
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|
|
|
|
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Stockholders' Equity (Deficit): |
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|
|
|
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Preferred stock, $0.0001 par value; 5,000,000 shares authorized, no shares issued and outstanding |
|
- |
|
|
- |
Common stock, $0.0001 par value; 700,000,000 shares authorized, 449,981,341 and 449,981,341 shares issued and outstanding, respectively |
|
44,998 |
|
|
44,998 |
Additional paid-in capital |
|
859,451 |
|
|
844,810 |
Other comprehensive income |
|
516 |
|
|
- |
Accumulated deficit |
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(950,091) |
|
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(916,368) |
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|
|
|
|
|
Total Stockholders Deficit |
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(45,126) |
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(26,560) |
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|
|
|
|
|
Total Liabilities and Stockholders' Deficit |
$ |
2,522 |
|
$ |
- |
The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.
3
WO GROUP, INC. AND SUBSIDIARY Consolidated Statements of Operations (Unaudited) |
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For the Three Months Ended |
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March 31, |
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2019 |
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2018 |
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|
|
|
|
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Operating Expenses: |
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|
|
|
|
|
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General & administrative expenses |
|
$ |
21,311 |
|
|
$ |
1,000 |
Total operating expenses |
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21,311 |
|
|
|
1,000 |
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|
|
|
|
|
|
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Loss from operations |
|
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(21,311) |
|
|
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(1,000) |
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|
|
|
|
|
|
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Loss before income taxes |
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(21,311) |
|
|
|
(1,000) |
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
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Net loss |
|
$ |
(21,311) |
|
|
$ |
(1,000) |
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|
|
|
|
|
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Loss per share, basic and diluted |
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$ |
(0.00) |
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|
$ |
(0.00) |
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|
|
|
|
|
|
|
Weighted average shares, basic and diluted |
|
|
449,981,341 |
|
|
|
449,981,341 |
The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.
4
WO GROUP, INC. AND SUBSIDIARY Consolidated Statements of Stockholders Deficit Three Months Ended March 31, 2018 and 2019 (unaudited) |
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Common Stock |
Additional Paid in |
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Accumulated |
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|||||||||
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Shares |
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Amount |
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Capital |
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Deficit |
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Total |
||||||
Balance at December 31, 2017 |
|
449,981,341 |
|
$ |
44,998 |
|
$ |
844,810 |
|
$ |
(889,808) |
|
|
$ |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss for the three months ended March 31, 2018 |
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- |
|
|
- |
|
|
- |
|
|
(1,000) |
|
|
|
(1,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Balance at March 31, 2018 |
|
449,981,341 |
|
$ |
44,998 |
|
$ |
844,810 |
|
$ |
(890,808) |
|
|
$ |
(1,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Common Stock |
Additional Paid in |
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Other Comprehensive |
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Accumulated |
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||||||||||
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Shares |
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Amount |
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Capital |
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Income |
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Deficit |
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Total |
|||||||
Balance at December 31, 2018 |
|
449,981,341 |
|
$ |
44,998 |
|
$ |
844,810 |
|
$ |
- |
|
$ |
(916,368) |
|
|
$ |
(26,560) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Acquisition of subsidiary |
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- |
|
|
- |
|
|
14,641 |
|
|
516 |
|
|
(12,412) |
|
|
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2,745 |
|
|
|
|
|
|
|
|
|
|
|
|
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Net loss for the three months ended March 31, 2019 |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(21,311) |
|
|
|
(21,311) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Balance at March 31, 2019 |
|
449,981,341 |
|
$ |
44,998 |
|
$ |
859,451 |
|
$ |
516 |
|
$ |
(950,091) |
|
|
$ |
(45,126) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.
5
WO GROUP, INC. AND SUBSIDIARY Consolidated Statements of Cash Flows (unaudited) |
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For the Three Months Ended |
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March 31, |
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2019 |
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2018 |
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Cash flows from operating activities: |
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|
|
|
||
|
|
|
|
|
||
Net loss |
|
$ |
(21,311) |
|
$ |
(1,000) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
Changes in assets and liabilities: |
|
|
|
|
|
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Accounts payable |
|
|
2,158 |
|
|
1,000 |
Net cash used in operating activities |
|
|
(19,153) |
|
|
- |
|
|
|
|
|
|
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Cash flows from investing activities: |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
Officer Advances |
|
|
18,930 |
|
|
- |
Net cash provided by financing activities |
|
|
18,930 |
|
|
- |
|
|
|
|
|
|
|
Net change in cash |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
Effects of currency translation |
|
|
482 |
|
|
- |
Cash, beginning of year |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
Cash, end of year |
|
$ |
259 |
|
$ |
- |
|
|
|
|
|
|
|
Cash paid during the period for: |
|
|
|
|
|
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Interest |
|
$ |
- |
|
$ |
- |
Income taxes |
|
$ |
- |
|
$ |
- |
The accompanying notes are an integral part of these condensed consolidated unaudited financial statements.
6
WO GROUP, INC. AND SUBSIDIARY
Notes to Unaudited Condensed Consolidated Financial Statements
Three Months Ended March 31, 2019 and 2018
NOTE 1 - DESCRIPTION OF BUSINESS AND HISTORY
WO Group Inc. (the Company), a Florida Corporation, was incorporated on January 17, 2008 as PAPA BELLO Enterprises, Inc. The Company does not have any meaningful business activities at this point. We have no employees and Mr. XiZhen Ye is the only officer and one of two board members. The Company is looking for a business acquisition or merger candidate.
On February 15, 2019, the Company completed the acquisition and registration of all of common stock of Hangzhou Huihuan Management Co., Ltd (Hangzhou Huihuan), a limited liability company in the Peoples Republic of China (the PRC). The Company acquired Hangzhou Huihuan from a third-party seller for a total cash consideration of $1,000. As a result of the acquisition, Hangzhou Huihuan became the Companys wholly owned subsidiary.
NOTE 2 - SUMMARY OF SIGNIFICANT POLICIES
Basis of presentation
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). These unaudited consolidated condensed financial statements should be read in conjunction with the audited financial statements and footnotes for the year ended December 31, 2018 included on the Companys Form 10-K. The results of the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year ending December 31, 2019.
In the opinion of management, all adjustments necessary to present fairly the financial position as of March 31, 2019 and the results of operations and cash flows presented herein have been included in the financial statements. All such adjustments are of a normal and recurring nature. Interim results are not necessarily indicative of results of operations for the full year.
Use of estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could differ from those estimates.
Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Hangzhou Huihuan. All significant intercompany transactions and balances have been eliminated.
Recent Accounting Pronouncements
The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
NOTE 3 - GOING CONCERN
The Company has suffered recurring losses, has no current operations, and has no assurance of future profitability. The Company will continue to require financing from external sources to finance its operating and investing activities until sufficient positive cash flows from operations can be generated. There is no assurance that financing or profitability will be achieved, accordingly, there is substantial doubt about the Companys ability to continue as a going concern.
These unaudited condensed consolidated financial statements have been prepared on the basis that the Company will be able to continue as a going concern and realize its assets and satisfy its liabilities and commitments in the normal course of business and do not reflect any adjustments which would be necessary if the Company is unable to continue as a going concern.
NOTE 4 RELATED PARTY TRANSACTION
For the three months ended March 31, 2019 and for the year ended December 31, 2018, Xi Zhen Ye, the CEO, advanced the Company $18,930 and $26,425, respectively, to pay for general operating expenses. The advance is unsecured, non-interest bearing and due on demand.
NOTE 5 - SUBSEQUENT EVENTS
Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855-10, Subsequent Events , through the date these unaudited condensed financial statements were issued and determined that no subsequent events occurred that would require adjustment to or disclosure in these financial statements.
7
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
On April 9, 1999, we were incorporated, under the laws of Florida as Big Bagel, Inc. We had a series of name changes and on July 11, 2017, we changed our name to WO Group, Inc.
On August 7, 2017, (i) W O Inc., a Cayman Island company, acquired 324,585,000 shares of common stock (or 72.13% of the total issued and outstanding capital stock of the Company) from the former controlling stockholders of the Company, (ii) we appointed Mr. Xi Zhen Ye as Director, President and Chief Executive Officer and Chief Financial Officer, and Mr. Keith Wong was appointed as Chief Operating Officer of the Company, and (iii) Mr. James Price resigned in all capacities as an officer and director of the Company. On May 1, 2018, Mr. Wong resigned in all capacities with respect to the Company.
The Company is a shell company seeking to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders.
RESULTS OF OPERATIONS
THREE MONTH PERIOD ENDED MARCH 31, 2019 COMPARED TO THE THREE MONTH PERIOD ENDED MARCH 31, 2018.
During the three months ended March 31, 2019 and March 31, 2018, respectively, we did not have any revenue from operations. During the three months ended March 31, 2019, we incurred operating expenses consisting of general and administrative fees in the amount of $21,311 compared to $1,000 in general and administrative fees, respectively, during the three months ended March 31, 2018. The net difference was an increase in professional and related fees which is result of fees associated with the Company becoming a public entity under federal securities laws.
LIQUIDITY AND CAPITAL RESOURCES
As of March 31, 2019, our working capital deficit was $47,096 compared with a working capital deficit of $26,560 as at December 31, 2018. The increase for the current period is mainly due to an increase in loans from related parties. As of March 31, 2019, the amount due to related parties was $45,355 compared with $26,560 as of December 31, 2018.
CASH FLOWS
The following is a summary of the Companys cash flows provided by (used in) operating, investing, and financing activities for the three months ended March 31, 2019 and 2018:
|
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For the Three Months Ended |
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March 31, |
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2019 |
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2018 |
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Cash flows from operating activities: |
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|
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||
|
|
|
|
|
||
Net loss |
|
$ |
(21,311) |
|
$ |
(1,000) |
|
|
|
|
|
|
|
Changes in assets and liabilities: |
|
|
|
|
|
|
Accounts payable |
|
|
2,158 |
|
|
1,000 |
Net cash used in operating activities |
|
|
(19,153) |
|
|
- |
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
- |
|
|
- |
|
|
|
|
|
|
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Cash flows from financing activities: |
|
|
|
|
|
|
Officer Advances |
|
|
18,930 |
|
|
- |
Net cash provided by financing activities |
|
|
18,930 |
|
|
- |
|
|
|
|
|
|
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Net change in cash |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
Effects of currency translation |
|
|
482 |
|
|
- |
Cash, beginning of year |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
Cash, end of year |
|
$ |
259 |
|
$ |
- |
|
|
|
|
|
|
|
Operating Activities
During the three months ended March 31, 2019, the Company incurred a net loss of $21,311 which, after adjusting for a decrease in accounts payable of $2,158, resulted in net cash of $19,153 being used in operating activities during the period. By comparison, during the three months ended March 31, 2018, the Company incurred a net loss of $1,000 and had no other adjustments.
Investing Activities
The Company neither generated nor used funds in investing activities during the three months ended March 31, 2019 and 2018.
Financing Activities
During the three months ended March 31, 2019, the Company received $18,930 by way of advances from a its sole officer. By comparison, during the three months ended March 31, 2018, the Company received no advances from its sole officer.
The Company is dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its business plan of seeking a combination with a private operating company. In addition, the Company is dependent upon certain related parties to provide continued funding and capital resources. No assurances can be given that the Company will be successful in locating or negotiating with any target company or that the related parties will continue to fund the Companys working capital needs. As a result, there is substantial doubt about the Companys ability to continue as a going concern.
GOING CONCERN
The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company currently has no assets, no business or recurring income which raises substantial doubt about its ability to continue as a going concern.
The ability to continue as a going concern is dependent upon the Companys ability to merger with or acquire profitable operations in the future and, or, obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. There is no assurance that this series of events will be satisfactorily completed.
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 March 31, 2019. 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 March 31, 2019 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 |
None
ITEM 3. |
DEFAULTS UPON SENIOR SECURITES |
None
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:
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31.1 |
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Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a). |
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31.2 |
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Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a). |
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32.1 |
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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.
8
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
WO GROUP, INC. |
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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) |
9
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 WO Group, Inc. Corp . (the Registrant ), certify that:
1. I have reviewed this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 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.
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Date: May 17, 2019 |
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/s/ Xi Zhen Ye |
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Xi Zhen Ye |
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Chief Executive Officer and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |
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 WO Group, Inc. (the “ Company ” ), on Form 10-Q for the quarterly period ended March 31, 2019, 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.
Dated: May 17, 2019
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/s/ Xi Zhen Ye |
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Xi Zhen Ye |
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Chief Executive Officer and Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) |