Entrepreneur Universe Bright Group Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Entrepreneur Universe Bright Group filed its 10-Q for Q1 2024, confirming compliance with SEC filing requirements.</b>

AI Summary

ENTREPRENEUR UNIVERSE BRIGHT GROUP (EUBGD) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. The filing is a Quarterly Report (Form 10-Q) for the period ended March 31, 2024. The company is registered in Nevada and its principal executive offices are located in Xi'an, China. Entrepreneur Universe Bright Group was formerly known as LONESTAR Group Holdings CO, U.S. ENERGY HOLDINGS INC., and PITBOSS ENTERTAINMENT INC. The company has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. The registrant has submitted electronically every Interactive Data File required for the preceding 12 months.

Why It Matters

For investors and stakeholders tracking ENTREPRENEUR UNIVERSE BRIGHT GROUP, this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operational status for the first quarter of 2024. The filing details the company's adherence to SEC regulations, including electronic data submission, which is crucial for investor confidence and regulatory compliance.

Risk Assessment

Risk Level: low — ENTREPRENEUR UNIVERSE BRIGHT GROUP shows low risk based on this filing. The filing is a routine 10-Q report, indicating standard operational procedures and no immediate red flags.

Analyst Insight

Monitor future filings for financial performance details and any changes in business strategy.

Key Numbers

• 20240331 — Quarterly Period End Date (Form 10-Q)
• 20240510 — Filing Date (Form 10-Q)
• 000-56305 — Commission File Number (SEC Filing)
• 86-029 - 86100263 — Registrant's telephone number (Contact Information)

Key Players & Entities

• ENTREPRENEUR UNIVERSE BRIGHT GROUP (company) — Registrant name
• 0001213900-24-041713 (other) — Accession Number
• 20240331 (date) — Conformed Period of Report
• 20240510 (date) — Filed as of date
• 000-56305 (other) — Commission File Number
• Nevada (location) — State of incorporation
• Xi'an, China (location) — Address of principal executive offices
• LONESTAR Group Holdings CO (company) — Former company name

FAQ

Key Dates

• 2024-03-31: Quarterly period ended — Reporting period for the 10-Q
• 2024-05-10: Filing date — Date the 10-Q was submitted to the SEC

Glossary

Form 10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a continuing disclosure of financial information between annual reports. (This filing provides the latest financial and operational update for Entrepreneur Universe Bright Group.)

Interactive Data File

Electronic files submitted to the SEC in a standardized format (XBRL) that allows for automated processing and analysis of financial information. (The company's electronic submission of these files indicates compliance with modern SEC reporting standards.)

Key Financial Figures

• $10 million — ing, our PRC subsidiary has distributed $10 million (net of withholding tax at $1.1 million
• $1.1 million — $10 million (net of withholding tax at $1.1 million charged at a rate of 10% of the declare

Filing Documents

• ea0205390-10q_entrepreneur.htm (10-Q) — 489KB
• ea020539001ex31-1_entrep.htm (EX-31.1) — 8KB
• ea020539001ex32-1_entrep.htm (EX-32.1) — 4KB
• 0001213900-24-041713.txt (&nbsp;) — 3870KB
• eubg-20240331.xsd (EX-101.SCH) — 48KB
• eubg-20240331_cal.xml (EX-101.CAL) — 40KB
• eubg-20240331_def.xml (EX-101.DEF) — 184KB
• eubg-20240331_lab.xml (EX-101.LAB) — 335KB
• eubg-20240331_pre.xml (EX-101.PRE) — 181KB
• ea0205390-10q_entrepreneur_htm.xml (XML) — 386KB

- Financial Information

PART I - Financial Information 1 ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 2 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 5 ITEM 4. CONTROLS AND PROCEDURES 5

- Other Information

PART II - Other Information 7 ITEM 1. LEGAL PROCEEDINGS 7 ITEM 1A. RISK FACTORS 7 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 7 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 7 ITEM 4. MINE SAFETY DISCLOSURES 7 ITEM 5. OTHER INFORMATION 7 ITEM 6. EXHIBITS 7

SIGNATURES

SIGNATURES 8 i NOTE Entrepreneur Universe Bright Group, a Nevada corporation ("EUBG" or the "Company"), is not a Chinese operating company but a Nevada holding company. As a holding company with no material operations of our own, EUBG conducts all of its operations through its subsidiaries in Hong Kong and in the People's Republic of China ("PRC" or "China"). Therefore our shareholders will not directly hold any equity interests in our Chinese operating subsidiaries. Unless otherwise mentioned or unless the context requires otherwise, when used in this Quarterly Report on Form 10-Q (the "Form 10-Q"), the terms "we," "us," and "our" refer to EUBG and its consolidated subsidiaries, or any one or more of them as the context may require, "HK subsidiary" refers to Entrepreneurship World Technology Holding Group Company Limited, our wholly-owned subsidiary and a Hong Kong limited company, and "PRC subsidiary" refers to Xi'an Yunchuang Space Information Technology Co., Ltd., f/k/a Entrepreneurship World Consultants Limited, a wholly-foreign owned Chinese subsidiary of HK subsidiary. EUBG is a holding company for its operating subsidiaries. We currently do not, and we do not plan to use variable interest entities ("VIE") to execute our business plan or to conduct our China-based operations. We do not have any contractual arrangements between the holding company, the HK subsidiary, and the PRC subsidiary. EUBG is a Nevada holding company and does not have any substantive operations other than directly or indirectly holding the equity interest in our operating subsidiaries in Hong Kong and China. Therefore our shareholders will not directly hold any equity interests in our Chinese operating subsidiaries. Our holding company structure involves unique risks to investors. Chinese regulatory authorities could disallow our corporate structure, which would likely result in a material change in our operations and/or the value of the Company's common stock, including that it

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q (the "Quarterly Report" or "Form 10-Q") includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements in this report other than statements of historical fact are forward-looking statements for purposes of these provisions, including any statements of the Company's plans and objectives for future operations, the Company's future financial or economic performance (including known or anticipated trends), and the assumptions underlying or related to the foregoing. Statements that include the use of terminology such as "may," "will," "expects," "plans," "anticipates," "estimates," "potential," or "continue," or the negative thereof, or other comparable terminology, are forward-looking statements. These risks and uncertainties include, but are not limited to, the factors described in the section captioned "Risk Factors" in our Annual Report filed with the Securities and Exchange Commission (SEC) on March 28, 2024. Forward-looking statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. You should read these factors and the other cautionary statements made in this report and in the documents we incorporate by reference into this report as being applicable to all related forward-looking statements wherever they appear in this report or the documents we incorporate by reference into this report. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Any forward-looking

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View this 10-Q filing on SEC EDGAR