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SUBSEQUENT EVENT
 6 Months Ended
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.