M&A - Welsis Corp.

Form Type: 10-Q

Filing Date: 2025-05-09

Corporate Action: Acquisition

Type: Update

Accession Number: 000164033425000820

Filing Summary: Welsis Corp., a development-stage company formed to provide virtual psychological therapy services, has undergone significant changes since its previous report. On April 1, 2024, Skywest Pinnacle Limited acquired 2,000,000 shares from former majority shareholder Dusan Zindovic, gaining control over approximately 73% of the company's common stock. This change in control allowed the new shareholders to dictate the company's strategic direction. The company is also entering the cryptocurrency sector with the launch of TokenTraders.net, a cryptocurrency exchange platform. As of March 31, 2025, the company reported an accumulated deficit of $198,400 and negative operating cash flow of $35,158 for the past six months. These factors raise doubts about the company's ability to continue as a going concern. Welsis is focused on raising additional funds through equity markets and loans to support operations and its planned expansion into cryptocurrency and blockchain.

Form Type: 10-K

Filing Date: 2025-01-14

Corporate Action: Acquisition

Type: New

Accession Number: 000164033425000083

Filing Summary: Welsis Corp., a startup focused on teletherapy services, underwent a significant ownership change when Skywest Pinnacle Limited acquired 2,000,000 shares, representing approximately 73% of the company's common stock. This acquisition allows Skywest to control the board and company decisions. After the acquisition, the previous CEO Dusan Zindovic resigned, and Kwok Boon Kit took over as CEO. The company has also announced entry into the cryptocurrency and blockchain sector with the launch of TokenTraders.net, a crypto-exchange site. Financially, Welsis Corp. reported a net loss of $24,683 for the year ending September 30, 2024, an improvement from a net loss of $41,068 the previous year, driven by increased other income and a gain on debt forgiveness of $55,000. As of January 7, 2025, the company had 2,752,667 shares outstanding and reported a working capital deficiency.