Welsis is a shell company with no operating business, no customers, and no revenue. Originally incorporated in Wyoming in 2021 as a teletherapy startup offering online psychological counseling to individuals, couples, and families, Welsis never gained traction with that business. New ownership took control in April 2024 and effectively abandoned the teletherapy concept. In September 2024, Welsis announced a pivot to cryptocurrency, launching TokenTraders.net, a crypto exchange website where users can trade cryptocurrencies and store them in a built-in wallet. As of the FY25 year-end, this business has generated zero revenue and remains in the development stage. Welsis has no functioning product and no revenue-generating operations of any kind. The company funds its basic operating expenses — primarily general and administrative costs and audit fees — entirely through the repeated issuance of convertible notes. Welsis is in severe financial distress, with total assets of roughly $2,169 against total liabilities of $152,500, zero cash, and a note payable currently in default. The auditor has issued a going concern opinion, and management acknowledges the need to raise additional capital but has no specific plan to do so.