Fri, Jun 6, 5:54 PM (15 days ago)
**UBUYHOLDINGS, INC. (UBYH)** **Financial Performance (Fiscal Year Ended May 31, 2024):** - **Revenue:** $0 (No operations or revenue) - **Net Income:** ($284,102) (Net loss) - **Operating Expenses:** $284,102 (General and administrative expenses) - **Earnings Per Share:** ($0.00) (Basic and diluted) **Financial Condition:** - **Total Assets:** $0 - **Total Liabilities:** $45,102 (Current liabilities) - **Stockholders' Deficit:** ($45,102) - **Cash and Cash Equivalents:** $0 - **Accumulated Deficit:** ($14,213,560) **Strategic Overview:** - **Business Model:** Seeking a merger with an operating business to create shareholder value. - **Target Industries:** No specific industry or geographical area targeted. - **Management:** Led by John Tan Honjian (CEO, President, CFO, Secretary, and sole director). **Future Outlook:** - **Business Plan:** Exploring and identifying viable business opportunities, including reverse mergers. - **Funding:** Plans to raise additional capital through debt or equity securities. - **Risks:** Significant risks include failure to complete a business combination, dilution of existing shareholders, and dependence on a single industry or region. **Risk Factors:** - **Operational Risks:** No current operations or revenue, reliance on a merger for future success. - **Financial Risks:** Limited capital, potential dilution of shareholders, and dependence on a single business combination. - **Market Risks:** Volatile stock price, limited market for common stock, and potential for significant price fluctuations. **Market Position Changes:** - **Stock Trading:** Common stock trades on the Expert Market under the symbol "UBYH." - **Shareholders:** 284,367,820 shares of common stock outstanding, held by approximately 776 record stockholders. **Additional Notes:** - **Going Concern:** Substantial doubt about the ability to continue as a going concern. - **Internal Controls:** Disclosure controls and procedures were not effective as of May 31, 2024. - **Audit:** Independent registered public accounting firm expressed substantial doubt about the company's ability to continue as a going concern.