WEDOTALK INC. company history: the story so far

History

A mineral explorer that gave up its claims became a Chinese glass craftwork company in 2009, then a shell whose preferred-share control changed hands in 2020 and 2021.

2008-2009: From mineral claims to glass craftwork

The company was incorporated in June 2007 as a mineral explorer, then named Hammer Handle Enterprises Inc. In September 2008 it sold its Pinto mineral claims in British Columbia to Cove Park Enterprises, Ltd. for $2,000, with Cove Park taking on all liabilities tied to the claims. The company said it could not raise enough money to explore them, had no business plan and had not found a new business. It also warned there was no assurance it could continue as a going concern, meaning keep operating.

The search ended in July 2009. On July 22 the company bought Boom Spring International Limited, which owns Shengtang, a Chinese maker and seller of glass craftwork products, through a share exchange. Boom Spring's holders received 33,300,000 new shares plus 12,000,000 shares transferred from the former majority holder, together about 90.6% of the 50,000,000 shares then outstanding. Existing holders were left with about 9.4%. The old officers and directors resigned and six new ones were appointed.

2010-2021: A shell changes hands

The record is quiet for the following years. In July 2018 the company, by then called WEDOTALK INC., suspended its duty to file periodic reports with the SEC. The filings seen do not explain how the glass business ended or how the company came to be run by a custodian, a person appointed to look after a dormant company.

By May 2020 it was named Shentang International, Inc. and was not conducting any business. On April 29, 2020, Plentiful Limited (Samoa) bought 10,000,000 preferred shares from Custodian Ventures (David Lazar) for $240,000, with $15,000 payable if the common stock gained DTC eligibility (approval for electronic clearing) by June 5, 2020. These shares carry about 98% of the voting power. Lei Xu became sole officer and then sole director. Common shares stayed at 20,000,000.

On August 11, 2021, Plentiful sold the same preferred shares for $250,000 to two British Virgin Islands companies: VEZHONG LIMITED (9,002,000 shares) and JW Asset Management Limited (998,000). Control passed to VEZHONG LIMITED. As of that date, no business plan, active assets, debt or pending transactions were stated.

Written from the 5 story beats below (2008 to 11 Aug 2021), which come from the company's own announcements and filings.

Beat by beat

The events that changed the company's story, in plain English, each written against everything known about the company at the time. The dot shows whether it was good, bad or neutral for shareholders.

shares on issue market cap (log scale)

202120.0m shares · US$474k market cap

11 Aug
On August 11, 2021 Plentiful Limited sold the same 10,000,000 preferred shares (about 98% of voting power) for $250,000 to two British Virgin Islands companies, VEZHONG LIMITED (9,002,000 shares) and JW Asset Management Limited (998,000 shares). Control passes to VEZHONG LIMITED. This is another change of control of the preferred stock, following the 2020 Plentiful purchase; the filing does not state any business plan or any change in the common shares.
material agreement
20.0m shUS$474k

202020.0m shares · US$2.0m market cap

4 May
By 2020 the company is named Shentang International, Inc. and is described as not currently conducting any business. This information statement reports that on April 29, 2020 Plentiful Limited (Samoa) bought 10,000,000 preferred shares, about 98% of the voting power, from Custodian Ventures (David Lazar) for $240,000, with $15,000 payable once the common stock gets DTC eligibility by June 5, 2020. Lei Xu becomes sole officer and, after a 10-day period, sole director as Lazar steps down. Common stock was 20,000,000 shares and is unchanged; the change in control is at the preferred-share level. The filing does not explain how the company went from the 2009 glass business to a shell run by a custodian.
business combination
20.0m shUS$2.0m

201820.0m shares · US$2.0m market cap

2 July
WEDOTALK INC. suspended its duty to file periodic reports with the SEC.
listing compliance notice
20.0m shUS$2.0m

2009

24 July
On July 22, 2009 the shell company (Hammer Handle Enterprises) bought Boom Spring International Limited, which owns Shengtang, a Chinese maker and seller of glass craftwork products, by share exchange. Boom Spring's holders received 33,300,000 new shares plus 12,000,000 shares transferred from the company's former majority holder, together about 90.6% of the 50,000,000 shares outstanding. The old officers and directors resigned and six new ones were appointed. This resolves the search for a new business that followed the 2008 sale of the Pinto claims, and existing holders were left with about 9.4%. The filing text provided is truncated, so further terms are not covered here.
business combination

2008

12 Sept
The company (then named Hammer Handle Enterprises Inc.) sold its 'Pinto' mineral claims in British Columbia to Cove Park Enterprises, Ltd. for $2,000, and Cove Park took on all liabilities tied to the claims. The company says it could not raise enough money to explore them, no longer has a business plan, has not found a new business, and says there is no assurance it can continue as a going concern.
asset acquisition disposition