ROLL IN OF LWH CONSULTING |
3 Months Ended |
---|---|
Mar. 31, 2025 | |
Roll In Of Lwh Consulting | |
ROLL IN OF LWH CONSULTING | NOTE – 2 ROLL IN OF LWH CONSULTING
On March 28, 2024, the Company rolled in LWH Consulting Sdn Bhd (“LWH Consulting”), a limited liability company incorporated in Malaysia, to carry out the provision of listing consulting services for clients with business interests in the Greater Bay Area in China and other parts of the world and assisting them to achieve the largest market value for listing in a short period. LWH Consulting is a boutique listing consulting firm with extensive relationships, network and solid experience in the industry and assist clients in accessing the global capital markets including but not limited to the US stock exchanges, the most robust financial markets with a diverse investor base to optimize liquidity.
During the three months ended March 31, 2024, LWH Consulting successfully reorganized GSG Group Inc. (OTC: GSGG) such that GSGG is able to raise funds from investors and on capital markets. The Company received 1,500,000 valuation for the 300,000 shares of GSGG’s common stock and has booked the fair value of the shares received in the Company’s financial statements as revenue of $1,500,000. shares of GSGG’s common stock as compensation for the services provided. The 300,000 shares are valued by the Company as Level 3 financial assets under the fair-value hierarchy stipulated by the U.S. GAAP. More information on the valuation of these assets has been detailed in Notes to the Financial Statements under Note 3 ‘Fair Value of Financial Instruments’. The Company determined a $
|