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SUBSEQUENT EVENT | 6 Months Ended
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Jun. 30, 2022
SUBSEQUENT EVENT |
SUBSEQUENT EVENT | NOTE 19- SUBSEQUENT EVENT On July 21, 2022, the Company has uplisted its common stock to the Nasdaq Capital Market, and the closing of its initial public offering (“IPO”) of 10,000,000 shares of common stock, with par value (the “Shares”). The Shares were priced at $4.00 per share, and the offering was conducted on a firm commitment basis. The Shares continue to trade under the stock symbol “WETG.” Upon completion of the IPO, the outstanding shares of the Company’s Common Stock has been increased from 185,032,503 shares to 195,032,503 shares as of reporting date. After deducting the underwriting discounts and estimated offering expenses payable by us, we expect to receive net proceeds of approximately $37,057,176 from this offering.
Gross proceeds |  | $ | 40,000,000 |
Underwriting discounts* |  | $ | 2,600,000 |
Underwriting accountable expenses |  | $ | 150,000 |
Company offering expenses |  | $ | 192,824 |
Net proceeds |  | $ | 37,057,176 |
* 6.5% of the public offering price.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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