SHAREHOLDERS’ DEFICIT

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

SHAREHOLDERS’ DEFICIT

9.       SHAREHOLDERS’ DEFICIT

Preferred stock

As of September 30, 2024 and December 31, 2023, the Company’s authorized shares were 30,000,000,000 shares of preferred stock, with a par value of $0.0001.

As of September 30, 2024 and December 31, 2023, the Company had 10,000,000 and 0 shares of Series A Preferred Stock issued and outstanding, respectively.

As of September 30, 2024 and December 31, 2023, the Company had 366,346 and 0 shares of Series B Preferred Stock issued and outstanding, respectively.

As of September 30, 2024 and December 31, 2023, the Company had 1 and 0 share of Series C Preferred Stock issued and outstanding, respectively.

Common stock

As of September 30, 2024 and December 31, 2023, the Company’s authorized shares were 270,000,000,000 shares of common stock, with a par value of $0.0001.

On March 11, 2024, the Company filed its Restated Articles of Incorporation with the Nevada Secretary of State (the “Articles of Incorporation”) to effect a 1-for-3000 reverse stock split of its issued and outstanding Common Stock (the “Reverse Stock Split”) which was approved by the Company’s stockholders at a special meeting in lieu of annual meeting held on February 29, 2023, and issue to all shareholders that directly as a result of the Reverse Stock Split would hold less than 100 shares of common stock of the Company (each, an “Affected Shareholder”) such number of additional shares of common stock so that each Affected Shareholder shall hold 100 shares of common stock of the Company after the Reverse Stock Split. On May 8, 2024, the Reverse Stock Split became effective upon the approval from FINRA. Accordingly, all common shares and per share amounts in these accompanying unaudited condensed consolidated financial statements have been adjusted retroactively to reflect the reverse stock split as if the split occurred at the beginning of the earliest period presented.

On August 15, 2024, the Company and United Warehouse Management Corp., a British Virgin Island corporation (“UWMC”) and eleven shareholders of UWMC entered into a Share Exchange Agreement (the “SEA”) pursuant to which the shareholders of UWMC agreed to transfer to the Company 4,000 shares of UWMC, constituting all of the issued and outstanding securities of UWMC, in exchange for 148,148,150 shares of common stock of the Company, par value $0.0001 per share.

As of September 30, 2024 and December 31, 2023, the Company had 308,958,835 and 148,148,150 shares of common stock issued and outstanding, respectively.