Form 8-K - Current report

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): December 12, 2024

 

Next Technology Holding Inc. (formerly known as “WeTrade Group Inc.”)

(Exact name of Company as specified in charter)

 

Wyoming		001-41450		N/A
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

 

Room 519, 05/F Block T3

Qianhai Premier Finance Centre Unit 2

Guiwan Area, Nanshan District, Shenzhen, China 518000

[phone]

(Address, including zip code, and telephone number, including area code, of principal executive offices)

 

Wyoming Registered Agent
1621 Central Ave Cheyenne, Wyoming 82001

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions (see General Instruction A.2. below):

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

         

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

         

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

         

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act: 

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered

 

 

 

 

 

Item 4.02 Non-reliance on previously issued financial statements

 

The Board of Next Technology Holding Inc (formerly known as WeTrade Group Inc. (the “Company”)) has concluded that Form 10-Q for the quarter ended June 30, 2024 filed on August 21, 2024 (the “Original Filing”) was not fully reviewed by the auditor and should no longer be relied upon.

 

The revised Form 10-Q/A that was filed on September 20, 2024 (the “Amendment No.1”) has been reviewed by the auditor and was filed to adjust: (i) $10,530 in tax expenses, deferred tax liabilities and accumulated retained profit due to under-provision for tax expenses and deferred tax liabilities; (ii) adjustment of $594,140 in amount due to related parties due to over-provision for related parties loan that affected the financial statement as follow:

 

The amount adjusted in Amended Statement of Operation for the six months ended June 30, 2024 (filed on September 20, 2024):

 

Nature of Error

Item:

Amount

June 30, 2024 (Amendment No.1 Filed on September 20, 2024)

June 30, 2024 (Original filed on August 22, 2024)

Under-provision of tax expenses in original 10Q

Income tax expenses

10,530

2,301,348

2,290,818

The amount adjusted in Amended Balance Sheet as of June 30, 2024 (filed on September 20, 2024):

 

Nature of Error		Item:		Amount				June 30, 2024 (Amendment No.1 Filed on September 20, 2024)				June 30, 2024 (Original filed on August 22, 2024)
Adjustment of loan conversion to equity from amount due to related parties to common stock		Amount due to related parties			(594,140	)			1,181,592				1,775,732
Adjustment of loan conversion to equity from amount due to related parties to common stock		Common Stock			594,140				71,718,790				71,124,650
Under-provision of deferred tax liabilities and tax expenses		Deferred tax liabilities			10,530				2,301,348				2,290,818
Under-provision of tax expenses in original 10Q		Accumulated profit			(10,530	)			984,728				995,258

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
10.1		Financial statements from the quarterly report on Form 10-Q of Next Technology Holdings Inc for the fiscal quarter ended June 30, 2024, formatted in XBRL : (i) Balance Sheet; (ii) the Statement of Income; (iii) the Statement of Cash Flows
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	NEXT TECHNOLOGY HOLDING INC.
Date: December 12, 2024	By:	/s/ Wei Hong Liu
	Name:	Wei Hong Liu
	Title:	Chief Executive Officer

 

 

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Cover	Dec. 12, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 12, 2024
Entity File Number	001-41450
Entity Registrant Name	Next Technology Holding Inc.
Entity Central Index Key	0001784970
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	WY
Entity Address, Address Line One	Room 519, 05/F Block T3
Entity Address, Address Line Two	Qianhai Premier Finance Centre Unit 2
Entity Address, Address Line Three	Guiwan Area, Nanshan District
Entity Address, City or Town	Shenzhen
Entity Address, Country	CN
Entity Address, Postal Zip Code	518000
City Area Code	+852
Local Phone Number	5338 4226
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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