{"url_path":"/sec/gwll/10-k/2026/item-13","section_key":"item-13","section_title":"Item 13 CERTAIN RELATIONSHIPS, RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-01","source_url":"https://www.sec.gov/Archives/edgar/data/1800373/0001477932-26-004130-index.html","accession_number":"0001477932-26-004130","cik":"0001800373","ticker":"GWLL","issuer_name":"GOLDENWELL BIOTECH, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1800373/0001477932-26-004130-index.html","primary_entity_key":"0001800373","primary_entity_name":"GOLDENWELL BIOTECH, INC."},"word_count":298,"has_tables":true,"body_markdown":"**ITEM 13. CERTAIN RELATIONSHIPS, RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE**\n\n \n\n**Related Party Transactions**\n\n \n\nExcept as disclosed below, during the past fiscal year, there have been no transactions, whether directly or indirectly, between us and any of our respective officers, directors, beneficial owners of more than 5.0% of our outstanding common stock or their family members, that exceeded the lesser of $120,000 million or 1.0% of the average of our total assets at year-end for the last completed fiscal year.\n\n \n\n \n\n25\n\n*Table of Contents*\n\n \n\n**Director Independence**\n\n \n\nOur board of directors is currently composed of three members, none of whom qualifies as an independent director in accordance with the published listing requirements of the NASDAQ Global Market. The NASDAQ independence definition includes a series of objective tests, such as that the director is not, and has not been for at least three years, one of our employees and that neither the director, nor any of his family members has engaged in various types of business dealings with us. In addition, our board of directors has not made a subjective determination as to each director that no relationships exist which, in the opinion of our board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, though such subjective determination is required by the NASDAQ rules. Had our board of directors made these determinations, our board of directors would have reviewed and discussed information provided by the directors and us with regard to each director’s business and personal activities and relationships as they may relate to us and our management.\n\n \n\nOur board of directors has not separately designated and standing committees.  Accordingly, the duties customarily performed by an audit committee, compensation committee, and governance and nominating committee are performed by our board of directors."}