XML 47 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2021 | Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |  |
Schedule of consolidated subsidiaries |
|  | Place of |  | Attributable |
Name of Company |  | incorporation |  | equity interest % |
Utour Pte Ltd |  | Singapore |  |  | 100 | %
WeTrade Information Technology Limited (“WITL”) |  | Hong Kong |  |  | 100 | %
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”) |  | P.R.C. |  |  | 100 | %
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”) |  | P.R.C |  |  | 100 | %
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”) |  | P.R.C |  |  | 100 | %
WeTrade Digital (Beijing) Technology Co Limited (FKA: XiaoShang Technology Beijing Co Limited) |  | P.R.C |  |  | 100 | %
Schedule of investment holding company |
|  | Place of |  | Nature of |
Name of Company |  | incorporation |  | operation |
Utour Pte Ltd |  | Singapore |  | Investment holding company |
WeTrade Information Technology Limited (“WITL”) |  | Hong Kong |  | Investment holding company |
Yueshang Information Technology (Beijing) Co., Ltd. (“YITB”) |  | P.R.C. |  | Providing of social e-commerce services, technical system support and services |
Yueshang Group Network (Hunan) Co., Limited (“Yueshang Hunan”) |  | P.R.C |  | Providing of social e-commerce services, technical system support and services |
Yueshang Technology Group (Hainan Special Economic Zone) Co. Limited (“Yueshang Hainan”) |  | P.R.C |  | Providing of social e-commerce services, technical system support and services |
WeTrade Digital (Beijing) Technology Co Limited (FKA: XiaoShang Technology Beijing Co Limited) |  | P.R.C |  | Providing of social e-commerce services, technical system support and services |
Schedule of exchange rate |
|  | June 30, 2021 |  |  | December 31, 2020 |
RMB: US$ exchange rate |  |  | 6.46 |  |  |  | 6.53 |
Schedule lease terms and discount rate |
Lease cost |  | In USD |
Operating lease cost (included in general and admin in company’s statement of operations) |  | $ | 230,770 |
Other information |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities for the six months ended 6/30/2021 |  |  | 351,456 |
Weighted average remaining lease term-operating leases (in years) |  |  | 4.17 |
Average discount rate - operating leases |  |  | 5 | %
The supplemental balance sheet information related to leases for the period is as follows: |  |  |  |
Operating leases |  |  |  |
Long -term right-of-use assets |  |  | 2,574,212 |
Total right-of-use assets |  | $ | 2,574,212 |
Short-term operating lease liabilities |  |  | 612,537 |
Long-term operating lease liabilities |  |  | 2,187,361 |
Total operating lease liabilities |  | $ | 2,799,898 |
Maturities of the Company’s lease liabilities are as follows: |  |  |  |
Year ending June 30, |  |  |  |
2021 |  |  | 365,866 |
2022 |  |  | 698,898 |
2023 |  |  | 741,993 |
2024 |  |  | 787,140 |
2025 |  |  | 519,190 |
Total lease payments |  |  | 3,113,087 |
Less: Imputed interest/present value discount |  |  | (313,189 | )
Present value of lease liabilities |  | $ | 5,912,985 |
Schedule of potentially diluted shares |
|  | For the period June 30, 2021 |  |  | For the period June 30, 2020 |
Statement of Operations Summary Information: |  |  |  |  |  |
Net Profit |  | $ | 2,494,114 |  |  | $ | 566,233 |
Weighted-average common shares outstanding - basic and diluted |  |  | 305,451,498 |  |  |  | 301,888,665 |
Net loss per share, basic and diluted |  | $ | 0.01 |  |  | $ | 0.00 |
Schedule of average exchange rate |  |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition A tabular presentation of the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates, as prescribed by the SEC. It reflects specified information about ownership, financial results from, and financial position in such entities. Includes the tabular presentations that disaggregate investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. + References No definition available. + Details
Name: | us-gaap_ScheduleOfInvestmentsInAndAdvancesToAffiliatesScheduleOfInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | wtg_ScheduleOfAverageExchangeRatetabletextblock
Namespace Prefix: | wtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | wtg_ScheduleOfExchangeRateTableTextBlock
Namespace Prefix: | wtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | wtg_ScheduleOfInvestmentHoldingCompanyTableTextBlock
Namespace Prefix: | wtg_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration