UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10−-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: ~~December~~June 3130, ~~2016~~2017

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________ to _____________

Commission File Number: 333-173680

GLORYWIN ENTERTAINMENT GROUP INC.

(Exact ~~Name~~name of ~~Registrant~~registrant as ~~Specified~~specified in ~~Its Charter~~its charter)

Nevada		27-3369810
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

Room 8, 20/F, AIA Tower,Nos 251A-301, Avenida ~~Commercial~~ Commercial de Macau, Macau

(Address of principal executive offices~~, Zip Code~~)

+853 8294-2333

(Registrant’'s telephone number~~, including area code~~)

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

Title of each class	Trading Symbol	Name of each exchange on which registered

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated Filer ☐	Accelerated Filer ☐
Non-accelerated Filer ☐	Smaller reporting company ☒
	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. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

~~The~~APPLICABLE ~~number~~ONLY ofTO ~~shares~~CORPORATE ~~outstanding of each of the issuer’s classes of common stock, as of June 5, 2022 is as follows~~ISSUERS:

Class of Securities		Shares Outstanding
Common Stock, $0.001 par value		356,194,747

Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date:356,194,747 shares of $0.001 par value common stock outstanding as of June 6, 2022.

GLORYWIN ENTERTAINMENT GROUP INC.

~~Quarterly~~FORM ~~Report on Form~~ 10-Q ~~Period Ended December 31, 2016~~

Quarterly Period Ended June 30, 2017

TABLE OF CONTENTS

PART I 3 FINANCIAL INFORMATION 3 ITEM 1. FINANCIAL STATEMENTS 3 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 16 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 19 ITEM 4. CONTROLS AND PROCEDURES 20 PART II 21 OTHER INFORMATION 21 ITEM 1. LEGAL PROCEEDINGS 21 ITEM 1A. RISK FACTORS 21 ITEM 2. DEFAULTS UPON SENIOR SECURITIES 21 ITEM 3. MINE SAFETY DISCLOSURES 21 ITEM 4. OTHER INFORMATION 21 ITEM 5. EXHIBITS 21

		Page

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS		3

PART I. FINANCIAL INFORMATION		4
Item 1.	Financial Statements	4
	Consolidated Balance Sheets as of June 30, 2017 (Unaudited) and March 31, 2017 (Unaudited)	4
	Consolidated Statements of Operations and Comprehensive Income (Unaudited) for the Three Months ended June 30, 2017 and 2016	5
	Consolidated Statements of Cash Flows (Unaudited) for the Three Months ended June 30, 2017 and 2016	6
	Notes to Unaudited Consolidated Financial Statements	7
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	14
Item 4.	Controls and Procedures	14

PART II. OTHER INFORMATION		16
Item 1.	Legal Proceedings	16
Item 1A.	Risk Factors	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 3.	Defaults Upon Senior Securities	16
Item 4.	Mine Safety Disclosures	16
Item 5.	Other Information	16
Item 6.	Exhibits	16

SIGNATURES		17

~~PART~~Unless Iotherwise noted, references in this registration statement to "Glorywin Entertainment Group Inc." the "Company," "we," "our" or "us" means Glorywin Entertainment Group Inc. and its subsidiaries.

~~FINANCIAL~~FORWARD-LOOKING ~~INFORMATION~~STATEMENTS

~~ITEM~~This 1document contains "forward-looking statements". All statements ~~FINANCIAL~~other ~~STATEMENTS~~than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

~~GLORYWIN~~Forward-looking ~~ENTERTAINMENT~~statements ~~GROUP~~may include the words "may, ~~INC~~"could," "estimate," "intend," "continue," "believe," "expect" or "anticipate" or other similar words. ~~AND~~These ~~SUBSIDIARIES~~forward-looking ~~CONSOLIDATED~~statements ~~BALANCE~~present ~~SHEETS~~our Asestimates and assumptions only as of ~~December~~the date 31of this report. Accordingly, ~~2016~~readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. Except for our ongoing securities laws, we do not intend, and ~~March~~undertake 31no obligation, ~~2016~~to update any forward-looking statement. Additionally, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 most likely do not apply to our forward-looking statements as a result of being a penny stock issuer. You should, however, consult further disclosures we make in future filings of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

	December 31,			March 31,
	2016			2016
	(Unaudited)			(As Restated)
ASSETS
Current assets
Cash and cash equivalents	$	252		$	252
Accounts receivable		–			–
Other current assets		–			–
Total current assets		252			252
Non - current assets
Construction in process		–			–
Deposits for long-term operating leases		–			–
Total non-current assets		–			–
Total assets	$	252		$	252
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable		–			–
Accrued liabilities and other payables		92,154			33,263
Taxes payable		–			–
Other payables - related parties		–			–
Total current liabilities		92,154			33,263
Total liabilities		92,154			33,263
Shareholders' equity
Common stock, $0.001 par value, 490,000,000 shares authorized, 102,100,338 and 50,900,338 shares issued and outstanding as of December 31, 2016 and March 31, 2016, respectively		102,100			50,900
Additional paid-in capital		1,839,796			1,890,996
Accumulated other comprehensive loss		(11,282	)		(11,094	)
Retained earnings		(2,022,517	)		(1,963,813	)
Total shareholders' equity		(91,903	)		(33,011	)
Total liabilities and shareholders' equity	$	252		$	252

Although we believe the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties.

~~See~~AVAILABLE ~~notes to unaudited consolidated financial statements~~INFORMATION

We file annual, quarterly and special reports and other information with the SEC that can be inspected and copied at the public reference facility maintained by the SEC at 100 F Street, N.E., Room 1580, Washington, D.C. 20549-0405. Information regarding the public reference facilities may be obtained from the SEC by telephoning 1-800-SEC-0330. The Company's filings are also available through the SEC's Electronic Data Gathering Analysis and Retrieval System which is publicly available through the SEC's website (www.sec.gov). Copies of such materials may also be obtained by mail from the public reference section of the SEC at 100 F Street, N.E., Room 1580, Washington, D.C. 20549-0405 at prescribed rates.

~~GLORYWIN~~PART ~~ENTERTAINMENT GROUP, INC~~I. ~~AND~~- ~~SUBSIDIARIES~~FINANCIAL ~~CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME For the Three and Nine Months Ended December 31, 2016 and 2016~~INFORMATION

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2016			2015			2016			2015
Revenues	$	–		$	1,948,295		$	–		$	5,464,068
Gross profit		–			1,948,295			–			5,464,068
Operating expenses:
General and administrative expenses		41,513			407,093			58,704			1,315,330
Professional fees		–			58,854			–			152,168
Total operating expenses		41,513			465,947			58,704			1,467,498
Income before provision for income taxes		–			1,482,348			–			3,996,570
Provision for income taxes		–			(207,758	)		–			(602,954	)
Net income (loss)	$	(41,513	)	$	1,274,590		$	(58,704	)	$	3,393,616
Comprehensive income
Net income (loss)	$	(41,513	)	$	1,274,590		$	(58,704	)	$	3,393,616
Total comprehensive income (loss)	$	(41,513	)	$	1,274,590		$	(58,704	)	$	3,393,616
Net income (loss) per share
Basic	$	0.00		$	0.06		$	0.00		$	0.16
Diluted	$	0.00		$	0.06		$	0.00		$	0.16
Weighted average common shares outstanding
Basic		102,100,338			20,900,338			68,773,793			20,866,883
Diluted		102,100,338			20,900,338			68,773,793			20,866,883

Item 1. Financial Statements

GLORYWIN ENTERTAINMENT GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

As of June 30, 2017 and March 31, 2017(Unaudited)

	June 30,			March 31,
	2017			2017
	(Unaudited)			(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	252		$	252
Accounts receivable		–			–
Other current assets		–			–
Total current assets		252			252
Total assets	$	252		$	252

LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current liabilities
Accrued liabilities and other payables	$	113,361		$	99,438
Taxes payable		–			–
Other payables - related parties		–			–
Total current liabilities		113,361		$	99,438
Total liabilities		113,361		$	99,438

Shareholders' equity (deficit)
Common stock, $0.001 par value, 490,000,000 shares authorized, 104,100,338 shares issued and outstanding as of June 30, 2017 and March 31, 2017		104,100			104,100
Additional paid-in capital		3,837,796			3,837,796
Accumulated other comprehensive loss		(11,282	)		(11,282	)
Retained earnings		(4,043,723	)		(4,029,800	)
Total shareholders' equity (deficit)		(113,109	)		(99,186	)
Total liabilities and shareholders' equity (deficit)	$	252		$	252

See notes to unaudited consolidated financial statements

GLORYWIN ENTERTAINMENT GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF ~~CHANGES~~OPERATIONS INAND ~~SHAREHOLDERS'~~COMPREHENSIVE ~~EQUITY~~INCOME

For the ~~Year~~Three Months Ended ~~March~~June 3130, ~~2016~~2017 and ~~Nine Months Ended December 31,~~ 2016

	Preferred Stock				Common Stock				Additional Paid-In			Accumulated Other Comprehensive			Retained			Shareholders’
	Shares		Amount		Shares		Amount		Capital			Loss			Earnings			Equity
Balance - March 31, 2014		–	$	–		9,805,044	$	9,805	$	91,850		$	–		$	(118,524	)		(16,869	)
Share issued for acquisition of Top Point		–		–		10,195,294		10,195		(10,195	)		–			–			–
Share based compensation - employees		–		–		100,000		100		199,900			–			–			200,000
Share issued to third parties for services provided		–		–		100,000		100		199,900			–			–			200,000
Share issued to related parties for services provided		–		–		600,000		600		1,199,400			–			–			1,200,000
Acquisition of Wonderful Gate		–		–		–		–		(7,692	)		–			–			(7,692	)
Debt forgiveness		–		–		–		–		16,869			–			–			16,869
Net income		–		–		–		–		–			–			1,067,232			1,067,232
Foreign currency translation adjustment		–		–		–		–		–			(3,756	)		–			(3,756	)
Balance - March 31, 2015		–		–		20,800,338		20,800		1,690,032			(3,756	)		948,708			2,655,795
Contributions from shareholder		–		–		–		–		9,000			–			–			9,000
Share based compensations - employees		–		–		100,000		100		224,900			–			–			225,000
Acquisition of Little Wooden house						30,000,000		30,000		(32,946	)		–			–			(2,946	)
Exchange Reserves													(7,338	)		–			(7,338	)
Net income		–		–		–		–		–			–			(2,912,521	)		(2,912,521	)
Balance – March 31, 2016		–		–		50,900,338		50,900		1,890,991			(11,094	)		(1,963,813	)		(33,016	)
Contribution from Shareholder						–		–		–			–			–			–
Acquisition of Top Honesty Biomass Sdn Bhd						51,200,000		51,200		(51,195	)		–			–			5
Exchange Reserves													(188	)					(188	)
Net Income																(2,065,987	)		(2,065,987	)
Balance - December 31, 2016		–	$	–		102,100,338	$	102,100	$	1,839,796		$	(11,282	)	$	(4,029,800	)	$	(2,099,186	)

(Unaudited)

	For the Three Months Ended June 30,
	2017			2016

Revenues	$	–		$	–
Gross profit		–			–
Operating expenses:
General and administrative expenses		13,923			24,445
Professional fees		–			–
Total operating expenses		13,923			24,445
Income before provision for income taxes		(13,923	)		(24,445	)
Provision for income taxes		–			–
Net income	$	(13,923	)	$	(24,445	)

Comprehensive income
Net income	$	(13,923	)	$	(24,445	)
Total comprehensive income	$	(13,923	)	$	(24,445	)

Net income per share
Basic	$	0.00		$	0.00
Diluted	$	0.00		$	0.00
Weighted average shares outstanding
Basic		102,789,227			50,900,338
Diluted		102,789,227			50,900,338

See notes to unaudited consolidated financial statements

GLORYWIN ENTERTAINMENT GROUP, INC. AND SUBSIDIARIES ~~CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months Ended December 31, 2016 and 2015~~

	For the Nine Months Ended December 31,
	2016			2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	(58,704	)	$	3,393,616
Adjustments to reconcile net income to net cash provided by operating activities:
Expenses paid and waived by shareholder		–			9,000
Depreciation expenses		–			3,014
Share based compensation - employees		–			225,000
Changes in operating assets and liabilities:
Accounts receivable		–			(1,359,303	)
Other current assets		–			–
Deposits for long-term operating leases		–			(30,000	)
Taxes payable		–			(604,960	)
Accrued liabilities and other payables		58,892			191,131
NET CASH PROVIDED BY OPERATING ACTIVITIES		188			3,037,418
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment		–			(32,150	)
Cash paid for construction in process		–			(3,115,068	)
NET CASH USED IN INVESTING ACTIVITIES		–			(3,147,218	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from related party advances		–			324,544
Repayments to related party advances		–			(415,703	)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		–			(91,159	)
EFFECT OF EXCHANGE RATE ON CASH		(188	)		–
NET INCREASE/( DECREASE) IN CASH AND CASH EQUIVALENTS		–			(200,959	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		252			213,974
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	252		$	13,015
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for:
Interest	$	–		$	–
Income taxes	$	–		$	–
NON-CASH DISCLOSURE OF CASH FLOW INFORMATION:
Shares issued for acquisition of Top honesty Biomass Sdn Bhd	$	51,200		$	–
Debt forgiveness	$	–		$	–
Shares issued for acquisition of Top Point	$	–		$	–

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended June 30, 2017 and 2016

(Unaudited)

	For the Three Months Ended June 30,
	2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	(13,923	)	$	(24,445	)
Changes in operating assets and liabilities:
Accounts receivable		–			–
Other current assets		–			–
Taxes payable
Accrued liabilities and other payables		13,923			24,633

NET CASH PROVIDED BY OPERATING ACTIVITIES		–			188

CASH FLOWS FROM FINANCING ACTIVITIES:
Distributions to shareholders		–			–
Proceeds from related party advances		–			–
Repayments to related party advances		–			–

NET CASH USED IN FINANCING ACTIVITIES		–			–

NET INCREASE IN CASH AND CASH EQUIVALENTS		–			(188	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		–			–
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	252		$	252

See notes to unaudited consolidated financial statements

Glorywin Entertainment Group, Inc. and Subsidiaries

(FORMERLY ZIPPY BAGS, INC.)

Notes to Unaudited Consolidated Financial Statements

Note 1 – Nature of Business

Glorywin Entertainment Group Inc. (“"Glorywin”"), formerly known as Zippy Bags, Inc., was incorporated in the state of Nevada on August 26, 2010 (“"Inception”"). It was initially formed to market a snowboard carrying bag locally, in the Salt Lake City, Utah area to snowboard shops and outdoor retailers.

On June 17, 2014, Janet Somsen, the original owner of Glorywin, entered into a security purchase agreement to sell 44.5% of Glorywin’'s outstanding shares, or 4,365,000 shares, of ~~common~~ common stock, to Taipan Pearl Sdn Bhd and Wenwei Wu in exchange for an aggregate purchase price of $189,004 in cash. At the closing of the transaction, Janet Somsen agreed that the previous officers would resign, and all the debts, consisting of $11,719 of taxes payable, $1,650 of accounts payable, and $3,500 of notes payable due to BK Consulting and Associates, P.C. (“"BK Consulting”"), would be repaid by Ms. Somsen. Glorywin is a shell company and has no operations.

On the same day, Glorywin entered into a share transfer agreement with Top Point Limited (“"Top Point”"), a company incorporated in Samoa on April 9, 2014. Pursuant to the agreement, Glorywin issued 10,195,294 shares of common stock to ~~Wen~~Wenwei ~~Wei~~ Wu, Taipan Pearl Sdn Bhd, ~~Boon~~Boom Siong Lee and Zhen Long Ho to acquire 1,000 common shares (100%) of Top Point. Top Point is a shell company and has no operations.

Simultaneously, Glorywin paid Macanese Pataca (“"MOP”") 60,000 (approximately $7,692) to acquire Wonderful Gate Strategy Company Limited (“"Wonderful Gate”"), a company incorporated on March 11, 2009 in Macau, China, and had no operation prior to the acquisition, from, Carmen Lum. Since then, Wonderful Gate has been engaged in service of introducing sub-junkets and information technology infrastructure to land-based casinos and receiving an agreed percentage of total bets as revenue. ~~Wonderful~~During ~~Gate~~the ~~has~~three ~~introduced~~months 25ended ~~sub-junkets~~June to30, ~~initially~~2015, ~~three~~25 ~~land~~sub-~~based casinos~~junkets inintroduced ~~Cambodia~~by ~~and~~Wonderful ~~reduced~~Gate provided service to two land-based casinos toin ~~date,~~Cambodia. Glorywin and its subsidiaries (collectively, the "Company", ~~itself~~"us") ~~does~~ do not hold ~~license~~licence to operate casinos/junket or to conduct gaming promotion business in any country.

The acquisitions were accounted for as acquisitions by entities under common control due to the fact that each company was and continued to be held by the Company ~~and its affiliates~~. As such, the transaction was recorded on the purchase method of accounting at historical amounts.

After the above transactions, Taipan Pearl Sdn Bhd owns 56.00% interest of the ~~Glorywin and its subsidiaries, (collectively, “the~~ Company”, ~~“us”),~~ and became the biggest shareholder of the Company.

On October 30, 2014, the Company changed its name to Glorywin Entertainment Group, Inc.

Acquisition of Gwin Company Limited (Gwin)

On October 22, 2014, the Company orally entered into a conditional sale agreement ("Conditional Sale Agreement"), which was later put into a written form on January 19, 2015, with Taipan Pearl Sdn Bhd, shareholder of 56% of the Company's interest. Pursuant to the Conditional Sale Agreement, the Company agreed to pay a total price of $2,000,000 to acquire Gwin Company Limited ("Target Company", or "Gwin"), which is solely owned by Mr. Sing Hong Ting, the 100% beneficial owner of Taipan Pearl Sdn Bhd. Gwin obtained the formal approval of incorporation in March, 2015 and did not generate any revenues since its establishment. The sale would be completed under conditions that the Target Company becomes profitable within 12 months from the date of the Conditional Sale Agreement (“Profitability Condition”) and that the Target Company maintains all necessary licenses to be operational. If the two conditions were not satisfied, the amount paid would be fully refunded. On February 18, 2015, the Company signed a supplementary agreement to the Conditional Sale Agreement ("Supplementary Agreement") with Taipan Pearl Sdn Bhd, pursuant to which, another $2,000,000 would be paid by the Company for acquisition of the Target Company. The incremental $2,000,000 would be used in renovating and operating of the Target Company. The Company paid $3,180,425 as of March 31, 2015 and continued to pay until September 29, 2015, when the Company entered into a Closing Agreement ("Closing Agreement") with Mr. Sing Hong Ting to officially acquire the Target Company. On November 11, 2015, the Company entered into an Amended and Restated Agreement (“Restated Agreement”) with Mr. Sing Hong Ting. Pursuant to the Closing Agreement and Restated Agreement, the Company: (1) purchased 100% of Gwin’s equity interest, and all the advanced payment to the Target Company, totalling $5,876,392, shall be regarded as the final consideration of the sale, and therefore shall not be refundable; (2) waived the Profitability Condition of the Conditional Sale Agreement, which was not met as of September 29, 2015; and (3) agreed with the other signing party to correct the seller of Gwin from Taipan Pearl Sdn Bhd to Mr. Sing Hong Ting. On January 9, 2015, Gwin entered into a lease agreement to lease a casino hotel building with equipment in it located in Kingdom of Cambodia. Gwin is currently refurbishing the building and expects to finish the refurbishment and start its operation in gaming and hospitality industry in February, 2016.

Since the Company and Gwin are under common control by Mr. Sing Hong Ting, the acquisition of Gwin was recorded as a transaction between entities under common control. The Company has accounted for Gwin’s operations on a retrospective basis in the Company’s consolidated financial statements since Gwin incurred start-up expenses from November 2014 which was before obtaining the formal approval for incorporation. Accordingly, the consolidated balance sheet as of March 31, 2015, the consolidated statement of operations and comprehensive income for the three and nine months ended December 31, 2014, the consolidated statement of changes in shareholders’ equity for the year ended March 31, 2015, and the consolidated statement of cash flows for the nine months ended December 31, 2014 have been retrospectively restated in this report to reflect Gwin’s accounts at their historical amounts as of those dates.

On February 21, 2016, Messrs. Meng Hoa Duang, Lee Boon Siong and Ho Zhen Lung (the “Resigning Officers”) had resigned as officers and directors of the Company on the same day. Company’s Chairman Mr. Wen Wei Wu later contacted Mr. Ming Kong Lee, who is a shareholder of the Company, that we believes he has control on the Resigning Officers. Mr. Ming Kong Lee revealed to Mr. Wu that he intended to take away the business operation of GWIN Company Limited, and Wonderful Gate Strategy Company Limited, both of which are wholly owned subsidiaries of the Company in concert with his brother-in-law, Mr. Sing Hong Ting who is a principal shareholder of the Company. The Company is currently seeking legal remedies against the Resigning Officers and Mr. Ting including the cancellation of the shares of common stock of the Company owned by them or entities controlled by them. However, as of the date hereof, the Company currently does not have access to the operation and business records of such subsidiaries. In addition, the Company’s two customers, the two land based casinos in Cambodia, which fully manage and handle former COO Mr. Ho Zhen Lung and secretary Mr. Lee Boon Siong, that generated substantially all of our revenues as part of our junket business notified the Company that they were terminating their junket arrangement with the Company. As a result, Company has lost the entire business in junket services and also lost the control of Gwin.

On March 9, 2016, the Company’s Board of Directors approved a Share Exchange Arrangement (the “Arrangement”) to be entered between the Company and Mr. Wen Wei Wu, who is the Company’s Chairman and Acting Chief Executive Officer during that time.

Subject to the Arrangement, the Company has agreed to acquire all of the outstanding capital stock of Little Wooden Horse Trading Company Limited (the “Trading Company”), a company incorporated in the Macau Special Administrative Region of the People’s Republic of China, in exchange for shares of the Company’s common stock, par value $0.001 (the “Common Stock”). Mr. Wu is the sole holder of the Trading Company. Pursuant to the Arrangement, the Company issued an aggregate of 30,000,000 shares of the Common Stock to acquire the Trading Company. The Trading Company is a new entity which has no historical operations and plans to involve in consultancy and trading of machineries related to activated carbon business.

On September 26, 2016, Glorywin Entertainment Group Inc., a Nevada Corporation (the “Company”) entered into a Sale and Purchase Agreement (the “Agreement”) with Mr. Ze Wu Xuan, the 100% beneficiary owner of Top Honesty Biomass Sdn Bhd (“THBSB”), a Malaysian company, to acquire all of the outstanding capital stock of THBSB in exchange for the issuance to Mr. Xuan of an aggregate of 51,200,000 shares of the Company’s common stock (the “Acquisition”). The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities Act. On September 26, 2016, the record holder of 51,200,000 shares of the Company’s common stock, equivalent to 56.97% of our then issued and outstanding shares of common stock, the sole class of our voting securities, adopted and approved the amendment to the Articles of Incorporation by written consent in lieu of a meeting.

Note 2 – Significant Accounting Policies

Basis of Presentation

WeThe ~~prepared the~~ consolidated financial statements include inthe ~~accordance~~accounts ~~with~~of ~~accounting~~the ~~principles~~Company ~~generally~~and ~~accepted~~its majority owned subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation. ~~United~~Certain ~~States~~information ofand ~~America~~footnote disclosures normally included in financial statements prepared in conjunction with U.S. generally accepted accounting principles ("U.S. GAAP") ~~and~~have ~~pursuant~~been tocondensed or omitted as permitted by the rules and regulations ~~U.S.~~of the United States Securities and Exchange Commission ("SEC"), ~~rules.~~although Wethe ~~included~~Company ~~all~~believes ~~adjustments~~ that the disclosures contained in this report are ~~necessary~~adequate ~~for~~to make the ~~fair~~information ~~presentation~~ presented not misleading. The consolidated balance sheet information as of ~~our~~June 30, 2016 was derived from the consolidated audited financial ~~position,~~statements ~~results~~included ofin ~~operations~~the Company's Annual Report on Form 10-K for the year ended March 31, 2017. These consolidated financial statements should be read in conjunction with the annual consolidated audited financial statements and ~~cash~~the ~~flows~~notes thereto included in the Company's Annual Report on Form 10-K for the ~~periods~~year ~~presented~~ended March 31, 2017, and other reports filed with the SEC.

The accompanying unaudited interim consolidated financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole.

We have defined various periods that are covered in this report as follows:

- "fiscal year ~~2015~~2016"—April 1, ~~2014~~ 2015 through March 31, ~~2015~~2016

- "fiscal year ~~2016~~2017"—April 1, ~~2015~~ 2016 through March 31, ~~2016~~2017

Use of Estimates

The preparation of consolidated financial statements that conform with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company continually evaluates its estimates, including those related to bad debts, income taxes, and the valuation of equity transactions. The Company bases its estimates on historical experience and on various other assumptions that it believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Any future changes to these estimates and assumptions could cause a material change to our reported amounts of revenues, expenses, assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.

Fair value of Financial Instruments

The Company's financial instruments consist principally of cash and cash equivalents, accounts receivable, accrued liability and other payables. The carrying amounts of such financial instruments in the accompanying balance sheets approximate their fair values due to their relatively short-term nature. Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of other payables to related parties due to their related party nature.

~~Construction~~Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in ~~progress~~arm's-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of other payables to related parties due to their related party nature.

Direct costs that are related to the construction of property and equipment incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment and the depreciation of these assets commences when the assets are ready for their intended use. As of December 30, 2016 and 2015, the balance of construction in progress was $nil and $3,115,068, respectively, which was primarily related to the refurbishment of a leased casino hotel building.

Foreign Currency Translation

The accompanying consolidated financial statements are presented in United States dollars ("USD"). The functional currency of Wonderful Gate located in Macau is Hong Kong Dollars ("HKD"), and the functional currency of Glorywin, and Top Point ~~and Gwin~~ is the USD. The financial statements are translated into US dollars from HK$ at ~~period~~year-end exchange rates for assets and liabilities, and weighted average exchange rates for revenues and expenses. ~~Capital~~ Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

The Hong Kong Monetary Authority ("HKMA"), Hong Kong's central bank, maintains a Linked Exchange Rate System since 1983. The HKMA operates Convertibility Undertakings on both the strong side and the weak side of the Linked Rate of US$1: HK$7.8. Thus, the consistent exchange rate used has been 7.80 HKD per each USD.

Foreign currency transactions are those that required settlement in a currency other than HKD. Gain or loss from foreign currency transactions, or exchange loss, are recognized in income in the period they occur.

Related Party Transactions

A related party is generally defined as (i) any person that holds 10% or more of the Company's securities including such person's immediate families, (ii) the Company's management, (iii) someone that directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

~~Stock-Based Compensation~~8

The Company accounts for stock based compensation issued to employees in accordance with ASC 718 "Stock Compensation". ASC 718 requires companies to recognize an expense in the statement of income at the grant date of stock options and other equity based compensation issued to employees. The Company accounts for non-employee share-based awards in accordance with ASC 505-50 "Equity-based payments to nonemployees".Reclassifications

~~Operating~~Certain ~~Leases~~prior period amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings and financial position.

Leases where substantially all the rewards and risks of ownership of assets remain with the leasing company are accounted for as operating leases. Payments made under operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease period.

Cash and Cash Equivalents

We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are presented net of an allowance for doubtful accounts. Management of the Company makes judgments as to its ability to collect outstanding receivables and provides allowances for the portion of receivables when collection becomes doubtful. Provisions are made based upon a specific review of all significant outstanding invoices. For those invoices not specifically reviewed, provisions are provided at different rates, based upon the age of the receivables. In determining these percentages, management analyzes its historical collection experience and current economic trends. If the historical data the Company uses to calculate the allowance for doubtful accounts does not reflect the future ability to collect outstanding receivables, additional provisions for doubtful accounts may be needed and the future results of operations could be materially affected. As of December 31, 2016 and March 31, 2016, the Company did not establish, based on a review of outstanding balances, an allowance for doubtful accounts.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for significant deferred tax assets when it is more likely than not, that such asset will not be recovered through future operations. Current income taxes are provided for in accordance with the laws and regulations applicable to the Company as enacted by the relevant tax authorities.

Revenue Recognition

Since Wonderful Gate was acquired, the Company has been engaged in service of introducing of sub-junkets and information technology (IT) company to land-based casinos and receiving an agreed percentage of total bets as revenue. For sub-junkets introduction service and IT infrastructure introduction service performed, the Company charge s 0.2% and 0.05%, respectively, of total bets played by players introduced by sub-junkets from the three casinos located in Cambodia.

At the end of each month, the IT company introduced by the Company generates a bet statement of the three casinos where all the playing information is presented, and that lays the ground for revenue calculation. After both the Company and the casinos agree with the information of the bet statement, settlement is prepared by the casinos and the Company usually gets paid on the 7th of the following month.

After the Resigning Officers resigned from their position and do not properly handover, and also they controlling both 2 casinos and IT company relationship, we have lost the entire business of junket and we have write off all the profits and revenue in previous fiscal year ended March 31, 2016.

Despite in September 2016, company has acquired Top Honesty Biomass Sdn Bhd (THBSB), a company incorporated in Malaysia which planning to commence new business related to biomass products, however, THBSB do not commence any business that generate any income as of December 31, 2016.

Recent accounting pronouncements

In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606):

Deferral of the Effective Date”. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments”. The amendments in ASU 2015-16 require that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the estimated amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. The amendments in the ASU are effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, “'Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes”. The amendments in ASU 2015-17 eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments in the ASU are effective for public business entities for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”. Among other things, the amendments in ASU 2016-01 require equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables), and eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The amendments in the ASU are effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

Note 3 – Accounts Receivable

Accounts receivable consists of the following:

		As of December 31, 2016		As of March 31, 2016
		As of June 30, 2017		As of March 31, 2017
Introduction of IT company	$	–	$	–
Introduction of sub-junkets		–		–
Total	$	–	$	–

WeAs ~~have~~of ~~written~~June ~~off~~30, ~~the~~2017 ~~entire~~and ~~amount receivable in previous year ended~~ March 31, ~~2016 because our junket business was taken away by Mr. Sing Hong Hong~~2017, ~~former major shareholder, and his concerted party, without~~there ~~our~~was ~~consent, and our company has~~ no ~~any~~allowance ~~receivables~~for ~~since~~doubtful ~~then~~accounts provided.

Note 4 – Income Taxes

Wonderful Gate, the operating entity of the Company, is located in Macau, China. Income received in Macau is taxable under Macau's Complementary Tax provisions, irrespective of the beneficiary being an individual or a corporation, its particular line of business, its nationality or domiciliation, without prejudice to the particular ~~deductions~~ deductions and allowances each taxpayer enjoys. Companies are required to declare their annual profit and such profit is subject to Complementary Tax. If dividend is declared, taxable profit is based on taxable profit (after dividends have been paid). Law No.155/2015 (the ~~2016~~2015 Budget Law) ~~remains~~extends the exempted portion of income to MOP600, 000 and determines that the excess of taxable income be taxed at the relevant brackets (0% from MOP0 to MOP600, 000 and 12% on the excess). These measures implemented through the 2015 Budget Law are extraordinary and there can be no assurances that the exemption limit will increase, decrease or stay at its present level. These rates apply to the declared taxable profit (gross income less allowable deductions) from all income generating sources, except professional tax and property income, taxed separately under different regulations. The provision for income taxes asfor ofthe ~~March~~three 31months ended June 30, ~~2016~~2017 and ~~2015~~2016 was $nil and $~~344~~nil,~~002,~~ respectively. We do not have any provision of taxes as of March 31, 2016 because we have suffer loss on discontinue of business due to Mr. Ting Hong Sing and his concerted parties have taken away our entire business without our consent.

The Company's subsidiary, ~~Feroce~~Top ~~Drago Inc~~Point, is incorporated in ~~Seychelles~~Samoa, and is subject to company tax at a tax rate of 2527%. No provision for income taxes in ~~Seychelles~~Samoa has been made as the Company had no ~~Seychelles~~ Samoa taxable income as of ~~December~~June 3130, ~~2016~~2017.

Glorywin is incorporated in the State of Nevada and is subject to the United States federal income tax at an effective tax rate of 34%.

~~Little~~Income ~~Wooden~~taxes ~~Horse~~are ~~Trading~~calculated ~~Company~~on ~~Limited~~a isseparate ~~incorporated in Macau,~~entity ~~China~~basis. ~~Income~~Deferred ~~received~~income intaxes ~~Macau~~reflect isthe ~~taxable~~net ~~from~~tax 0%effects toof ~~12%.~~temporary Nodifferences ~~provision~~between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income ~~taxes~~tax inpurposes. ~~Macau~~The ~~has~~provisions ~~been~~for ~~made~~income astaxes for the ~~Company~~three ~~had~~months noended ~~Macau~~June ~~taxable~~30, ~~income~~2015 asand of2014, ~~December 31~~respectively, ~~2016.~~are summarized as follows:

THBSB is incorporated in Malaysia and is subject to company tax at a rate ranging from 0% to 25% based on annual taxable profit. No provision for income taxes in Malaysia has been made as THBSB had no taxable income as of December 31, 2016.

		Three Months Ended June 30,
		2017		2016
Current taxes	$	–	$	–
Deferred taxes		–		–
Total	$	–	$	–

Income taxes are calculated on a separate entity basis. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The provisions for income taxes as of December 31, 2016 and 2015 are summarized as follows:9

	Nine Months Ended December 31,
	2016		2015
Current taxes	$	–	$	602,954
Deferred taxes		–		–
Total	$	–	$	602,954

The table below summarizes the difference between the U.S. statutory federal tax rate and the Company's effective tax rate for the three months ended June 30, 2017 and 2016:

The table below summarizes the difference between the U.S. statutory federal tax rate and the Company's effective tax rate for the nine months ended December 31, 2016 and 2015:

	Three Months Ended June 30,
	2017			2016
U.S. federal income tax rate		34%			34%
Foreign income note recognized in the U.S.		(34%	)		(34%	)
Macau Complementary tax		–			–
Total effective income tax rate		–			–

	Nine Months Ended December 31,
	2016			2015
U.S. federal income tax rate		34%			34%
Foreign income note recognized in the U.S.		(34%	)		(34%	)
Macau Complementary tax		12%			12%
Kingdom of Cambodia company tax		0%			0%
Effect of income tax difference under different tax jurisdictions		3%			3%
Total effective income tax rate		15%			15%

Note 5 – Stockholders' Equity

13Shares issued

Note 5 - STOCKHOLDERS' EQUITY

Stock-splits

On August 19, 2013, the Company's board of directors and shareholders approved a one thousand-for-one reverse stock split of the Company's common stock. On November 7, 2013, the Company issued 336 shares of common stock as fractional shares from the August 19, 2013 reverse stock split. All reference to share and per share amounts in the consolidated financial statement and accompanying notes to the consolidated financial statements have been retroactively restated to reflect the one thousand-for-one reverse stock split, unless otherwise noted.

Shares Issued

On June 17, 2014, the Company issued 10,195,294 restricted shares to Taipan Pearl Sdn Bhd, Wenwei Wu, Boom Siong Lee and Zhen Long Ho as consideration for 1,000 shares of Top Point. The shares were booked at par value issuance cost with a decrease to additional paid-in capital of $10,195 due to treatment requirements for stock granted for an acquisition of an entity under common control. The transaction was accounted for as an acquisition of entity under common control which requires booking the transaction at historical cost.

On November 18, 2014, the Company issued 600,000 restricted shares to Taipan Pearl Sdn Bhd, its major shareholder, 100,000 shares to Eng Wah Kung, its Chief Executive Officer ~~at the time~~, and 100,000 ~~shares~~ shares to its public relationship company as consideration for their services provided. The total fair value of the common stock was $1,600,000 based on the closing price of the Company's common stock on the date of grant and the expense was included in general and administrative expenses for the year ended March 31, 2015. The restriction period is one year from the grant date.

On July 1, 2015, the Company issued 100,000 restricted shares of the Company's common stock valued at $2.25 per share to Mr. Muhammad Shahrezza Chong as compensation for his service to the Company as Director of Public Relationships. The total fair value of the common stock was $225,000 based on the closing price of the Company's common stock on the date of grant and the expense was included in general and administrative expenses for the nine months ended December 31, 2015. The restriction period is one year from the grant date.

On March 9, 2016, the Company issued an aggregate of 30,000,000 shares of the Company’s Common Stock to Mr. Wu to acquire the Little Wooden Horse Trading Company Limited. The issuance of the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof on the basis that the transaction did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities Act.

On September 26, 2016, the Company issued an aggregate of 51,200,000 shares of the Company’s Common Stock to Mr Xuan to acquire the THBSB. The issuance of the shares was exempt from registration under the Securities Act of 1933 pursuant to Section 4(a)(2) thereof on the basis that the transaction did not involve a public offering. The shares are subject to restrictions on resale pursuant to Commission Rule 144 under the Securities Act.

Debt forgiveness by related party

On June 17, 2014, Janet Somsen paid and released the Company of $16,869 of outstanding liabilities. As Ms. Somsen was a shareholder of the Company, the transaction was accounted for as contributed capital.

OnNote ~~November~~6 ~~18,~~– ~~2014,~~Related ~~the~~Party Company issued 600,000 restricted shares to Taipan Pearl Sdn Bhd, its major shareholder, 100,000 shares to Eng Wah Kung, its Chief Executive Officer at the time, and 100,000 shares to its public relationship company as consideration for their services provided. The total fair value of the common stock was $1,600,000 based on the closing price of the Company's common stock on the date of grant and the expense was included in general and administrative expenses for the year ended March 31, 2015. The restriction period is one year from the grant date.Transactions

14The Company's officers, directors and related parties, from time to time, provided advances to the Company for working capital purpose. These advances are short-term in nature, unsecured and payable on demand. The due to related parties amounts on June 30, 2017 and March 31, 2017 were as follows:

OnName ~~July~~of 1,related ~~2015,~~parties ~~the~~Relationship ~~Company~~with ~~issued 100,000 restricted shares of~~ the Company's ~~common~~Interests ~~stock valued at $2.25 per share to Mr. Muhammad Shahrezza Chong as compensation for his service to the Company as Director~~ of ~~Public~~borrowings ~~Relationships.~~June ~~The total fair value of the common stock was $225~~30,~~000~~ ~~based~~2017 onMarch ~~the closing price of the Company's common stock on the date of grant and the expense was included in general and administrative expenses for the nine months ended December~~ 31, ~~2015. The restriction period is one year from the grant date.~~2017

~~Debt~~The ~~forgiveness~~balance of $325,900 on June 30, 2015 included $7,692 that was paid by ~~related~~Wenwei ~~party~~Wu for acquisition of Wonderful Gate.

On June 17, 2014, Janet Somsen, ~~paid~~the Glorywin's original owner, sold 4,365,000 shares to Taipan Pearl Sdn Bhd and ~~released~~Wenwei Wu. As part of the security purchase agreement, all the debts of the ~~Company~~Glorywin as of the transaction date, including $1611,~~869~~719 of ~~outstanding~~taxes ~~liabilities.~~payable, As$1,650 of accounts payable, and $3,500 of notes payable due to BK Consulting, would be repaid by Ms. Somsen. ~~was~~On athe ~~shareholder~~same ofday, ~~the~~Glorywin ~~Company~~issued 10,195,294 ~~the~~restricted ~~transaction~~shares ~~was~~to ~~accounted~~Wenwei Wu, Taipan Pearl Sdn Bhd, Boom Siong Lee and Zhen Long Ho for astheir interest in the 1,000 shares of Top Point. Simultaneously, Glorywin paid MOP60,000 ~~contributed~~(approximately ~~capital~~$7,692) to acquire Wonderful Gate from Carmen Lum. Also see Note 1.

~~Note 6 – RELATED PARTY TRANSACTIONS~~ 10

~~The~~On October 22, 2014, the Company orally entered into a conditional sale agreement ("Conditional Sale Agreement"), which was later put into a written form on January 19, 2015, with Taipan Pearl Sdn Bhd, shareholder of 56.00% of the Company's ~~officers~~interest. Pursuant to the Conditional Sale Agreement, ~~directors~~the ~~and~~Company ~~other~~shall pay ~~related~~a ~~parties~~total price of $2,000,000 to acquire Gwin Company Limited ("Target Company", or "Gwin"), which is solely owned by Mr Sing Hong Ting, the 100% beneficial owner of Taipan Pearl Sdn Bhd. The sale would be completed under conditions that the Target Company becomes profitable within 12 months from ~~time~~the date of the Conditional Sale Agreement and that the Target Company maintains all necessary licenses to ~~time~~be operational. If the two conditions are not satisfied, ~~provided~~the ~~advances~~amount paid will be fully refunded. On February 18, 2015, the Company signed a supplementary agreement to the Conditional Sale Agreement ("Supplementary Agreement") with Taipan Pearl Sdn Bhd, pursuant to which, another $2,000,000 would be paid by the Company for ~~working~~acquisition ~~capital~~of ~~purpose~~the Target Company. ~~These~~The ~~advances~~incremental $2,000,000 ~~are~~would ~~short-term~~be used in ~~nature~~renovating and operating of the Target Company. As of June 30, ~~unsecured~~2015 and ~~payable~~March 31, 2015, the Company paid a ontotal ~~demand~~of $3,643,711 and $3,180,425, respectively. ~~There~~Since both the Conditional Sale Agreement and Supplementary Agreement are nosigned ~~any~~between entities ~~related~~under ~~party~~common ~~transactions~~control, the transaction was recorded as ofa ~~December~~distribution ~~31,~~to ~~2016~~shareholder ~~and~~with ~~March~~the ~~31,~~payment ~~2016~~reflected as a deduction on shareholder's equity (additional paid-in capital).

~~Note~~On 7November -18, ~~COMMITMENTS~~2014, ~~AND~~the ~~CONTINGENCIES~~Company issued 600,000 restricted shares of common stock to Taipan Pearl Sdn Bhd and 100,000 restricted shares of common stock to Eng Wah Kung, the Company's Chief Executive Officer, as consideration for their services provided. The total fair value of the common stock was $1,400,000 based on the closing price of the Company's common stock on the date of grant.

OnNote ~~November~~7 ~~19,~~– ~~2015,~~Commitments ~~the Company entered into an agreement for the lease of a virtual office in Macau for monthly rental of MOP1,620 (approximately $200). The lease began on November 19, 2015~~ and ~~will expire on November 18, 2016. Company renewed the agreement for another 6 months until May 18, 2017.~~ Contingencies

15On May 19, 2014, the Company entered into an agreement for the lease of an office in Macau for monthly rental of MOP10,000 (approximately $1,290). The original lease term began on May 19, 2014 and expired on April 18, 2015. On April 19, 2015, the Company renewed the agreement for another six months. The monthly rental for the renewed lease is MOP11,000, or $1,410. The renewed lease will expire on November 18, 2015.

~~ITEM~~The 2.total ~~MANAGEMENT’S~~rent ~~DISCUSSION~~expenses ~~AND~~for ~~ANALYSIS~~the OFthree ~~FINANCIAL~~months ~~CONDITION~~ended June ~~AND~~30, ~~RESULTS~~2017 OFand ~~OPERATIONS~~2016 were $0 and $0, respectively.

~~Special~~ Note ~~Regarding~~8 ~~Forward~~– ~~Looking~~Subsequent ~~Statements~~Events

In addition to historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We use words such as “believe,” “expect,” “anticipate,” “project,” “target,” “plan,” “optimistic,” “intend,” “aim,” “will” or similar expressions which are intended to identify forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those identified in Item 1A “Risk Factors” included in our Annual Report on Form 10-K for the year ended March 31, 2015 as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements.

Readers are urged to carefully review and consider the various disclosures made by us in this report and our other filings with the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this report speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

Use of Terms

Except where the context otherwise requires and for the purposes of this report only:

· “Glorywin”, “Company,” “we,” “us,” or “our” are to the combined business of Glorywin Entertainment Group Inc., a Nevada corporation, and its consolidated subsidiaries: Wonderful Gate Strategy Company Limited, Top Point Limited and GWIN Co Ltd; · “Wonderful Gate” is to Wonderful Gate Strategy Company Limited, a company incorporated in Macau; · “Top Point” is to Top Point Limited, a company incorporated in Samoa; · “Gwin” is to Gwin Co Lrd, a company incorporated in Kingdom of Cambodia; · “Cambodia” is to the Kingdom of Cambodia; · “SEC” is to the Securities and Exchange Commission; · “Exchange Act” is to the Securities Exchange Act of 1934, as amended; · “Securities Act” is to the Securities Act of 1933, as amended; and · “U.S. dollars,” “dollars” and “$” are to the legal currency of the United States.

Overview of our Business

The Company was formed in the state of Nevada on August 26, 2010 under the name "Zippy Bags, Inc." to provide retail sales of snowboard carrying bags to the general public.

After the takeover by new management on June 17, 2014, the Company, through its 100% indirectly owned subsidiary, Wonderful Gate, became principally engaged in the service of introducing sub-junkets and information technology infrastructure to land-based casinos. For sub-junkets introduction service and IT infrastructure introduction service performed, we charge 0.2% and 0.05%, respectively, of total bets played by players introduced by sub-junkets to the casinos located in Cambodia.

On October 30, 2014, the Company filed a certificate of amendment (the "Amendment") to its Certificate of Incorporation with the Secretary of State of the State of Nevada in order to change its name to "Glorywin Entertainment Group, Inc." in order to better reflect the direction and business of the Company. The Company has adopted a fiscal year end of March 31.

We have established a website (www.glorywinentertainment.com) which sets forth general information for the Company.

Based on our current operating plan, we expect that we will be able to generate revenue that is sufficient to cover our expenses for the next twelve months. Our ability to maintain sufficient liquidity is dependent on our ability to raise additional capital.

Recent Development

In January 2016, we have started preparing ourselves to achieve all requirements in order to up-list to NASDAQ. We are confident to achieve all up-listing requirements in the next 6 months then we will submit our application for up-listing.

After the Company launched mobile application for Android operating system phone users on August 1, 2015, the Company started the process to develop the mobile applications for IOS operating system phone users. Mobile applications are intended to provide online gaming to customers where such activity is legal. The software is provided by a third party vendor who is providing the on-line casino platform in selected markets. Development of the gaming mobile applications requires the Company to customize the appearance and branding of the third party software, and establish merchant services to accept payments and facilitate distribution of winnings profits.

Player acquisition is a key factor for organic growth in the online gaming industry. Players are primarily acquired from affiliates for a fixed fee or percentage of earnings based on negotiated predetermined criteria. Affiliates are websites or individuals that attract players through various means such as player news/interest websites, email campaigns or other relationships. The key is that payment to affiliates takes place only when negotiated criteria are met. The criteria may be player minimum deposit, level of play, or revenue earned. The critical element is that unlike most marketing campaigns, the revenues returned by marketing are generally predictable.

The key elements of player retention are the creation of exciting opportunities to maintain player interest and increase play frequency. Similar to land-based casino's compensation programs, the tools used for this purpose include prizes, "free money," opportunities to play against famous (or infamous) players, and tournament qualifications.

Results of Operations

Comparison of Three Months Ended December 31, 2016 and 2015

Sales revenue . Our sales revenue is primarily generated from introducing players to casinos throughout the Asian region. Sales revenue decreased by $1,948,295 or 43%, to $NIL for the three months ended December 31, 2016, from $1,948,295 for the same period in 2015. The decrease was due to the cessation of operations.

Cost of sales . We have no cost of sales in view of the nature of our business as earning commission from land based casinos. Hence our cost of sales is Nil for both three months ended December 31, 2016 and 2015.

Gross profit . Our gross profit is equal to the difference between our sales revenue and our cost of sales. Due to the nature of our business merely earning commission from land based casinos, we have no cost of sales and gross profit remained 100% of sales. Gross profit decreased to $(41,513) for the three months ended December 31, 2016, from $1,274,590 for the same period in 2015. The decrease in our gross profit margin was mainly attributable to cessation of operations.

Selling, General and Administrative expenses . Our administrative expenses consist of the costs associated with staff and support personnel who manage our business activities. Our administrative expenses decreased by $897,514, or 69%, to $407,093 for the three months ended December 31, 2015, from $1,304,607 for the same period in 2014. As a percentage of sales revenue, administrative expenses decreased to 21% for the three months ended December 31, 2015, as compared to 96% for the same period in 2014. High administrative expenses in for the same period in 2014 was primarily because there were shares issued for services valued at fair market value in addition to salaries and rental expenses. There were no shares issued for the same period in 2015 which led to decrease in administrative expenses.

Liquidity and Capital Resources

As of December 31, 2015, we had cash and cash equivalents of $13,015, primarily consisting of cash on hand and demand deposits. We believe that our existing sources of liquidity will be sufficient to fund our operations, anticipated capital expenditures, working capital and other financing requirements for at least the next twelve months.

The following table summarizes total assets, accumulated profit, stockholder's equity and working capital as of December 31, 2016 and March 31, 2016.

	December 31, 2016			March 31, 2016
Total Assets	$	252		$	252
Accumulated Profit	$	(2,022,517	)	$	(1,963,813	)
Stockholders' Equity	$	(91,903	)	$	(33,011	)
Net Working Capital (Deficit)	$	(91,903	)	$	(33,011	)

Operating Activities

Net cash provided by operating activities was $(188) for the nine months ended December 31, 2016, compared with $(200,959) for the same period in 2015. The increase in net cash provided by operating activities was mainly because net income has increased.

Investing Activities

Net cash used in investing activities was $NIL for the nine months ended December 31, 2016, compared with $(91,159) in the same period in 2015. The net cash used in investing activities during the nine months ended December 31, 2015 was primarily used for refurbish cost for the casino building leased under Gwin.

Financing Activities

Net cash used in financing activities was $91,159 for the nine months ended December 31, 2015, compared with net cash provided by financing activities of $NIL for the same period in 2016. The decrease in net cash provided by financing activities resulted from the Company has repaid the advances to related parties.

Inflation

Inflation and changing prices have not had a material effect on our business, and we do not expect that inflation or changing prices will materially affect our business in the foreseeable future. However, our management will closely monitor price changes in the Cambodian economy and our industry and continually maintain effective cost controls in operations.

Off Balance Sheet Arrangements

We do not have any off balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, sales or expenses, results of operations, liquidity or capital expenditures, or capital resources that are material to an investment in our securities.

Critical Accounting Policies

Critical accounting policies are those we believe are most important to portraying our financial conditions and results of operations and also require the greatest amount of subjective or complex judgments by management. Judgments and uncertainties regarding the application of these policies may result in materially different amounts being reported under various conditions or using different assumptions. See Note 2 to our unaudited consolidated financial statements included elsewhere in this report.

Revenue Recognition

Revenues from service contracts are recognized as services are performed if collectability is reasonably assured.

The Company is engaged in service of introducing of sub-junkets and information technology (IT) company to land-based casinos and receiving an agreed percentage of total bets as revenue. For sub-junkets introduction service and IT infrastructure introduction service performed, the Company charges 0.2% and 0.05%, respectively, of total bets played by players introduced by sub-junkets to the casinos located in Cambodia.

Recently Issued Accounting Pronouncements

In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date”. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities, certain not-for-profit entities, and certain employee benefit plans should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements.

In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments”. The amendments in ASU 2015-16 require that an acquirer recognize adjustments to estimated amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the estimated amounts, calculated as if the accounting had been completed at the acquisition date. The amendments also require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the estimated amounts had been recognized as of the acquisition date. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

In January 2016, the FASB issued ASU 2016-01, “Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”. Among other things, the amendments in ASU 2016-01 require equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income, public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables), and eliminates the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable.

ITEM 4. CONTROLS AND PROCEDURES.

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified in the Securities Exchange Commission (“SEC”) rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), as appropriate, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Disclosure Controls

In designing and evaluating the Company's disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, Company management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Evaluation of Disclosure Controls and Procedures

Our CEO and CFO have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on the evaluation, they concluded that our disclosure controls and procedures are not effective in timely alerting them to material information relating to us that is required to be included in our periodic SEC filings and ensuring that information required to be disclosed by us in the reports we file or submit under the Act is accumulated and communicated to our management, including our chief financial officer, or person performing similar functions, as appropriate to allow timely decisions regarding required disclosure, for the following reasons:

· The Company does not have an independent board of directors or audit committee; · We do not have an independent body to oversee our internal controls over financial reporting.

We plan to rectify these weaknesses by implementing an independent board of directors.

Changes in Internal Control over Financial Reporting

We regularly review our system of internal control over financial reporting and make changes to our processes and systems to improve controls and increase efficiency, while ensuring that we maintain an effective internal control environment. Changes may include such activities as implementing new, more efficient systems, consolidating activities, and migrating processes.

There were no changes in our internal controls over financial reporting during the third quarter of 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II

OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these, or other matters, may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, cash flows, financial condition or operating results.

ITEM 1A. RISK FACTORS.

Not applicable.

ITEM 2. DEFAULTS UPON SENIOR SECURITIES.

None.

~~ITEM 3. MINE SAFETY DISCLOSURES.~~11

~~Not~~Item ~~applicable~~2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

~~ITEM~~OVERVIEW 4.AND ~~OTHER INFORMATION.~~OUTLOOK

WeThe ~~have~~Company ~~no information to disclose that~~ was ~~required to~~formed be in athe ~~report~~state of Nevada on ~~Form~~August ~~8-K~~26, ~~during~~2010 under the ~~third~~name ~~quarter~~"Zippy ~~of 2015~~Bags, ~~but was not reported~~Inc." ~~There have been no material changes~~ to ~~the~~provide ~~procedures by~~retail ~~which~~sales ~~security~~of ~~holders~~snowboard ~~may~~carrying ~~recommend~~bags ~~nominees~~ to ~~our~~the ~~board~~general ~~of directors~~public.

~~ITEM~~After 5the takeover by new management on June 17, 2014, the Company, through its 100% indirectly owned subsidiary, Wonderful Gate Strategy Company Limited, became principally engaged in the service of introducing sub-junkets and information technology infrastructure to land-based casinos. For ~~EXHIBITS~~sub-junkets introduction service and IT infrastructure introduction service performed, we charge 0.2% and 0.05%, respectively, of total bets played by players introduced by sub-junkets from the casinos located in Cambodia.

~~The~~On ~~list~~October 30, 2014, the Company filed a certificate of ~~exhibits~~amendment in(the "Amendment") to its Certificate of Incorporation with the ~~Exhibit~~Secretary ~~Index~~of State of the State of Nevada in order to ~~this~~change its name to "Glorywin Entertainment Group, Inc." in order to better reflect the direction and business of the Company. ~~report~~The isCompany ~~incorporated~~has ~~herein~~adopted bya ~~reference~~fiscal year end of March 31.

21We have established a website (www.glorywinentertainment.com) which set forth general information for the Company.

~~SIGNATURES~~Based on our current operating plan, we expect that we will be able to generate revenue that is sufficient to cover our expenses for the next twelve months. Our ability to maintain sufficient liquidity is dependent on our ability to raise additional capital.

~~Pursuant~~Recent ~~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 thereunto duly authorized.~~Developments

Date: June 15, 2022	GLORYWIN ENTERTAINMENT GROUP INC.
	By:	/s/ Sorphea Rath
		Sorphea Rath, Chief Executive Officer
		(Principal Executive Officer)

The Company is in the process of developing mobile applications to provide gaming to customers where such activity is legal. The software is provided by a third party vendor who is providing the on-line casino platform in selected markets. Development of the mobile application of gaming requires the Company to customize the appearance and branding of the third party software, and establish merchant services to accept payments and facilitate distribution of winnings.

~~By:~~Player acquisition is a key factor for organic growth in the online gaming industry. Players are primarily acquired from affiliates for a fixed fee or percentage of earnings based on negotiated predetermined criteria. Affiliates are websites or individuals that attract players through various means such as player news/s/interest websites, ~~Solin~~email ~~Hoem~~campaigns ~~Solin~~or ~~Hoem~~other relationships. The key is that payment to affiliates takes place only when negotiated criteria are met. The criteria may be player minimum deposit, ~~Chief~~level ~~Financial~~of ~~Officer~~play, ~~(Principal~~or ~~Financial~~revenue ~~Officer~~earned. ~~and~~The ~~Principal~~critical ~~Accounting~~element ~~Officer)~~is that unlike most marketing campaigns, the revenues returned by marketing are generally predictable.

22The key elements of player retention are the creation of exciting opportunities to maintain player interest and increase play frequency. Similar to land-based casino's compensation programs, the tools used for this purpose include prizes, "free money," opportunities to play against famous (or infamous) players, and tournament qualifications.

~~EXHIBIT~~On ~~INDEX~~January 19, 2015, the Company entered into a conditional agreement with the Company's major shareholder, Taipan Pearl Sdn Bhd to acquire 100% interest in GWIN Company Limited ("GWIN"), operating Chetaeu De Bavet Club Co ("Chetaeu") a land based casino in Kingdom of Cambodia. Under the terms of the conditional purchase agreement, the Company is entitle to 100% interest of the company. In consideration for the purchase, GWIN made a Refundable Deposit of USD2,000,000 ("Deposit") and will take full operation of the land-based casino for a total of 12 months. Upon the operations achieving at least positive revenue within that 12 months period, the transaction is considered completed with Deposit being the Consideration Purchase Price.

Exhibit No.		Description
31.1		Certifications of Principal Executive Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certifications of Principal Financial Officer filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certifications of Principal Executive Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2		Certifications of Principal Financial Officer furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101		Interactive data files pursuant to Rule 405 of Regulation S-T (furnished herewith).

23On February 18, 2015, the Company entered into a binding sub agreement worth $2 million with GWIN. Pursuant to the binding sub agreement, the Company would finance the construction amount and working capital for operations of GWIN. GWIN has extensive experience in promoting gaming business in Asia, as well as implementing fraud and risk control, payment processing and compliance with particular respect to gaming. It is envisaged that the parties will work together in a joint venture to raise capital and contribute expertise with the intention of generating revenues, profits and returning value to shareholders.

The Company is currently finalizing due diligence on this transaction and incorporated as part of the due diligence will be an assurance that GWIN does not facilitate gaming in any jurisdictions when such activities are illegal and are fully compliant with all laws pertaining to their current operation.

Results of Operations for the Three Months Ended June 30, 2015 and 2014

Sales

Revenue of $ 0 and $0 was recognized during the three months ended June 30, 2017 and 2016. The company has ceased operations.

General and administrative expenses

General and administrative expenses were $13,923 for the three months ended June 30, 2017 compared to $ 24,445 for the three months ended June 30, 2016.

Net Profit / Loss

For the reasons above, net profit for the three months ended June 30, 2017 was $0 as compared to nil in 2016.

LIQUIDITY AND CAPITAL RESOURCES

We believe that our existing sources of liquidity will be sufficient to fund our operations, anticipated capital expenditures, working capital and other financing requirements for at least the next twelve months.

The following table summarizes total assets, accumulated deficit, stockholder's equity and working capital at June 30, 2017.

	June 30, 2017			March 31, 2017
Total Assets	$	252		$	252

Accumulated Profit (Loss)	$	(4,034,723	)	$	(4,029,800	)

Stockholders' Equity	$	(113,109	)	$	(99,186	)

Net Working Capital	$	(113,109	)	$	(99,186	)

Net cash provided by operating activities totaled $0 during the three months ended June 30, 2017.

Satisfaction of Our Cash Obligations for the Next Twelve Months

Our plan for satisfying our cash requirements for the next twelve months is through generating revenue from introduction of junket operations and technical service.

Inflation

The rate of inflation has had little impact on the Company's results of operations and is not expected to have a significant impact on the continuing operations.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Critical Accounting Policies

We have identified the policies outlined below as critical to our business operations and an understanding of our results of operations. The list is not intended to be a comprehensive list of all of our accounting policies. In many cases, the accounting treatment of a particular transaction is specifically dictated by accounting principles generally accepted in the United States, with no need for management's judgment in their application. The impact and any associated risks related to these policies on our business operations is discussed throughout management's Discussion and Analysis or Plan of Operation where such policies affect our reported and expected financial results. Note that our preparation of the financial statements requires us to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities at the date of our financial statements, and the reported amounts of revenue and expenses during the reporting period. There can be no assurance that actual results will not differ from those estimates.

Revenue Recognition

Revenues from service contracts are recognized as services are performed if collectability is reasonably assured.

Recently Issued Accounting Pronouncements

For information about new accounting pronouncements and the potential impact on our Consolidated Financial Statements, see Note 3 of the Notes to Consolidated Financial Statements in our Form 10-K for the year ended March 31, 2017.

Item 3. Quantitative and Qualitative Disclosure About Market Risk.

This item is not applicable as we are currently considered a smaller reporting company.

Item 4. Controls and Procedures.

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission (“SEC”) rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), as appropriate, to allow timely decisions regarding required disclosure.

Limitations on the Effectiveness of Disclosure Controls

Evaluation of Disclosure Controls and Procedures

Our CEO and CFO, have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on the evaluation, they concluded that our disclosure controls and procedures are not effective in timely alerting them to material information relating to us that is required to be included in our periodic SEC filings and ensuring that information required to be disclosed by us in the reports we file or submit under the Act is accumulated and communicated to our management, including our chief financial officer, or person performing similar functions, as appropriate to allow timely decisions regarding required disclosure, for the following reasons:

	·	The Company does not have an independent board of directors or audit committee;

	·	We do not have an independent body to oversee our internal controls over financial reporting.

We plan to rectify these weaknesses by implementing an independent board of directors.

Changes in Internal Control Over Financial Reporting

None.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

We know of no material pending legal proceedings to which our company or subsidiary is a party or of which any of their property is the subject. In addition, we do not know of any such proceedings contemplated by any governmental authorities.

We know of no material proceedings in which any director, officer or affiliate of our company, or any registered or beneficial stockholder of our company, or any associate of any such director, officer, affiliate, or stockholder is a party adverse to our company or subsidiary or has a material interest adverse to our company or subsidiary.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

Appointment of Officer

On August 11, 2015, Carmen Lum resigned as the Company's Chief Financial Officer and the Board of Directors appointed Mr. Gim Hooi Ooi as the Company's Chief Financial Officer, who will serves as the principal financial officer of the Company.

There is no family relationship between Mr. Ooi and any of our other officers and directors. There are no understandings or arrangements between Mr. Ooi and any other person pursuant to which Mr. Ooi was appointed the Deputy Chief Financial Officer.

Gim Hooi Ooi , Age 34, has a background in banking and financial services. He has been serving as a Senior Relationship Manager of Alliance Bank Malaysia Berhad since 2013. From 2012 to 2013, he served as an Account Relationship Manager at Hong Leong Bank Berhad. From 2009 to 2012, he served as a Team Leader at UOB (M) Berhad.

Item 6. Exhibits.

Exhibit		Exhibit Description
31.1		Certification by the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act
31.2		Certification by the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
32.1		Certification by the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act
32.2		Certification by the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act

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 thereunto duly authorized.

	GLORYWIN ENTERTAINMENT GROUP INC.

Date: June 16, 2022	By:	/s/Sorphea Rath
		Sorphea Rath
		Chief Executive Officer

Date: June 16, 2022

By:

/s/Solin Hoem

Solin Hoem

Chief Financial Officer

Filing Compare · GLORYWIN ENTERTAINMENT GROUP, INC.