Goldenwell Biotech, Inc 10-Q for FY2026 Q2

Goldenwell Biotech, Inc. (GWLL)

10-Q 2026-08-14 For: 2026-06-30

Added on August 14, 2026

About this 10-Q

Goldenwell Biotech, Inc filed this 10-Q on August 14, 2026, covering the quarter ended June 30, 2026 (FY2026 Q2).

Headline figures

Quarter ended June 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $0; compared with $0 a year earlier
Net loss: $36.88K; compared with a net loss of $30.3K a year earlier
Diluted EPS: $0.00

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Nevada		84-2896086
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging growth company	☒

Index		Page

PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements.	4

	Balance Sheet as of June 30, 2026 (unaudited) and December 31, 2025.		4

	Statement of Operations for the Six Months ended June 30, 2026 and 2025 (unaudited)		5

	Statements of Changes Stockholders’ Equity for the Six Months ended June 30, 2026 and the year ended December 31, 2025 (unaudited).		6

	Statement of Cash Flows for the Six Months ended June 30, 2026 and 2025 (unaudited).		7

	Notes to Condensed Financial Statements (unaudited).		8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.		13

Item 3.	Quantitative and Qualitative Disclosures About Market Risk.		16

Item 4.	Controls and Procedures.		16

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings.		17

Item 1A.	Risk Factors.		17

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.		17

Item 3.	Defaults Upon Senior Securities.		17

Item 4.	Mine Safety Disclosures.		17

Item 5.	Other Information.		17

Item 6.	Exhibits.		18

Signatures			19

	June 30, 2026			December 31, 2025
ASSETS
CURRENT ASSETS
Cash		11,143			26,775
Accounts Receivable
Inventory (related party transaction)		0			174,745
Less Allowance for Inventory Obsolescence					(174,745	)
Prepaid OTCQB Fee		17,835			9,345
NONCURRENT ASSETS
Right of Use Assets		0			0
TOTAL ASSETS		28,978			36,120

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts Payable		0			0
Lease Liability		0			0
Unearned Sales Revenue		0			1,860
Unearned Service Revenue		100,000			100,000
Accrued Legal Fee		0
Total Current Liabilities		100,000			101,860
NONCURRENT LIABILITIES
Due from the related party		140,588			95,588
Long-term liabilities		189,250			189,250
Less Discount on Long-term Liabilities		(2,665	)		(6,865	)
TOTAL LIABILITIES		427,173			379,833

STOCKHOLDERS' EQUITY
Common stock, $0.0001 par value, 300,000,000 shares authorized, 99,000,000 issued and outstanding at December 31, 2025 99,000,000 issued and outstanding at June 30, 2026		9,900			9,900
Additional paid-in capital		1,302,504			1,302,504
Retained earnings		(1,710,598	)		(1,656,117	)
Total stockholders' equity		(398,195	)		(343,713	)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		28,978			36,120

	Three Months Ended on						Six Months Ended on
	30-Jun-26			30-Jun-25			30-Jun-26			30-Jun-25
				As Restated						As Restated

REVENUE
Sales		0			0						0
Service Revenue		0
COST OF REVENUES		0			0						0

GROSS PROFIT		0			0						0

OPERATING EXPENSES
General and administrative		(34,776	)		(28,200	)		(66,111	)		(64,636	)

Total operating expenses		(34,776	)		(28,200	)		(66,111	)		(64,636	)

Operation Income		(34,776	)		(28,200	)		(66,111	)		(64,636	)

Other Income and Expenses
Other Income								15,829
Interest Expense		(2,100	)		(2,100	)		(4,200	)		(4,200	)
Loss from Inventory Impairment
Income tax provision		0			0			0			0

NET LOSS		(36,876	)		(30,300	)		(54,482	)		(68,836	)

Earning per share - basic and diluted

Weighted average number of shares outstanding - basic and diluted		99,000,000			99,000,000			99,000,000			99,000,000

Title of each class	Trading Symbol(s)	Name of each exchange on which registered

	For the Six Months Ended on June 30
	2026			2025
				As Restated
Cash Flows from Operating Activities:
Net Loss		(54,482	)		(68,836	)
Non-cash interest expense		4,200			4,200
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in operating assets
Change in Accounts Receivable
Change in inventory deposit
Change in inventory		174,745
Change in Allowance for Inventory Obsoletence		(174,745	)
Change in right of use asset
Change in Prepaid OCTQB Fee		(8,490	)		(16,020	)
Changed in operating liabilities
Change in Accounts Payable
Change in Unearned Sales Revenue		(1,860	)
Change in Unearned Service Revenue					100,000
Change in Accrued Legal Fee					7,760
Change in Lease liability
Net Cash used in Operating Activities		(60,632	)		27,104

Cash flows from Financing Activities:
Proceeds from the due from the related party		45,000
Proceeds from long-term loan
Discount on Long-term loan
Proceeds from issuance of common stock
Additional paid-capital
Stock subscription receivable
Net Cash provided by Financing Activities		45,000			0

Net change in cash		(15,632	)		27,104
Cash at beginning of period		26,775			49,404
Cash at end of period		11,143			76,507

	June 30, 2026			December 31, 2025
Income tax benefit at statutory rate	$	(7,744	)		(61,570	)
Change in valuation allowance		7,744			61,570
Income tax expense		—			—

	June 30, 2026			December 31, 2025
Net operating loss carry forward	$	359,226			347,785
Valuation allowance		(359,226	)		(347,785	)
Net deferred tax assets		—			—

	June 30,
	2025			2025			Amount of
	Originally Reported			Restated			Change
Service Revenue		37,500			0			37,500
Expenses:
OTCQB Fee		16,020			0			16,020
Legal Fee		0			3,600			(3,600	)
NET LOSS		(5,220	)		(30,300	)		25,080

	June 30
	2025			2025			Amount of
	Originally Reported			Restated			Change
Prepaid OTCQB Annual Fee		0			16,020			(16,020	)
TOTAL ASSETS		251,295			267,315			(16,020	)

Unearned Service Revenue		62,500			100,000			(37,500	)
Accrued Legal Fee		0			7,760			(7,760	)
TOTAL LIABILITIES								0
Accumulated Deficit		(1,399,241	)		(1,428,481	)		29,240
TOTAL STOCKHOLDER’S EQUITY (DEFICIT)		(86,839	)		(116,079	)		29,240
TOTAL LIABILITIES AND STOCKHOLDER’S EQUITY/(DEFICIT)		(251,295	)		(267,315	)		16,020

Number		Description

3.1		Articles of Incorporation
3.2		Bylaws
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

	GOLDENWELL BIOTECH, INC.

Date: August 14, 2026	By:	/s/ Shuang Liu
	Name:	Shuang Liu
	Title:	Chief Executive Officer (principal executive officer)

1.	I have reviewed this quarterly report on Form 10-Q of Goldenwell Biotech, Inc.;

2.	Based on my knowledge, this quarterly 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 quarterly report;

3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly 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 quarterly report;

4.	The registrant’s other certifying officer(s) and I are 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 registrant’s 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 registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

	(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 registrant’s 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 registrant’s internal control over financial reporting.

Date: August 14, 2026		/s/ Shuang Liu
		Name: Shuang Liu
		Title: Chief Executive Officer
		(principal executive officer)

Date: August 14, 2026		/s/ Hua Xie
		Name: Hua Xie
		Title: Secretary
		(principal accounting officer and principal financial officer)

(1)	such Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)	the information contained in such Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 fairly presents, in all material respects, the financial condition and results of operations of Goldenwell Biotech, Inc.