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Red Flags Detected

  • Going Concern (worsened) — Going concern language persists while working capital swung from positive $190K to negative $(361K), cash fell to $13K, and entire inventory expired—financial position materially deteriorated.
  • Disclosure Controls Not Effective (unchanged) — Filing states that management concluded the company's disclosure controls and procedures were not effective. The same conclusion appeared in the baseline filing.
OTC: GWLL GOLDENWELL BIOTECH, INC. 10-Q

revenue $0, net income -$17,606. Working capital swings negative; cash falls

Filed July 1, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 27, 2025 · ~2 min read

Key Changes

  • high

    Working capital deteriorated from positive $190,055 to negative $(361,319) as entire inventory of health supplements ($174,745) expired in January 2026 and was written off. Cash declined 22% to $13,414. Note: the filing labels $(361,319) as working capital, but that figure equals its stockholders' equity deficit (total assets $18,754 less total liabilities $380,073); a working-capital calculation against current liabilities of $100,000 would exclude the $280,073 of non-current liabilities.

    MD&A: Liquidity & Note 4: Inventory Impairment verify on EDGAR →
  • high

    Company received $100,000 from related-party entity Trefoil (Hong Kong) under technical development agreement; CEO Shuang Liu serves as CEO of both companies. Funds recorded as unearned service revenue.

    Notes: Related-Party Transactions view on EDGAR →
  • high

    Current liabilities surged 53-fold from $1,860 to $100,000 (unearned revenue), while total liabilities rose 39% to $380,073. Stockholders' equity deficit worsened from $(81,618) to $(361,319).

    MD&A: Balance Sheet verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Jul 8, 2026 · How we verify