Mon, Sep 30, 9:20 PM (81 days ago)
For the fiscal year ending June 30, 2024, United Express Inc. reported revenues of $240,717, down from $296,422 in 2023, resulting in a significant net loss of $2,481,158, largely due to operating expenses of $2,662,325. The gross profit for the year was $181,167, with costs primarily attributed to advisory fees and a theft loss of production equipment. The company’s total assets increased to $13,724,909, driven by the acquisition of intangible assets and equipment through the issuance of 12,380,951 shares. The firm operates in a competitive logistics sector but is pivoting towards promoting mixed martial arts events, leveraging a newly acquired promoter license. Future outlook remains uncertain due to reliance on a limited customer base and the need for additional financing to sustain operations. Risk factors include operational competition, revenue generation challenges, and potential cash flow issues, with a warning about the company's ability to continue as a going concern.