Entrepreneur Universe Bright Group Files 10-Q

TL;DR

EU BG filed its Q2 10-Q. Check financials.

AI Summary

Entrepreneur Universe Bright Group filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as Lonestar Group Holdings CO, U.S. Energy Holdings Inc., and Pitboss Entertainment Inc., is incorporated in Nevada and operates in the management consulting services sector. Its business address is in Xi'an, China.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not contain immediate red flags.

Key Numbers

• 000-56305 — Commission File Number (Identifies the company's filing with the SEC)
• 20240630 — Quarter End Date (Marks the end of the reporting period)

Key Players & Entities

• ENTREPRENEUR UNIVERSE BRIGHT GROUP (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• 86-400-6087979 (phone_number) — Business phone number
• 000-56305 (company_id) — Commission File Number
• Nevada (location) — State of incorporation

FAQ

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

• ea0210853-10q_entrepreneur.htm (10-Q) — 699KB
• ea021085301ex31-1_entrep.htm (EX-31.1) — 10KB
• ea021085301ex32-1_entrep.htm (EX-32.1) — 4KB
• 0001213900-24-067707.txt ( ) — 4495KB
• eubg-20240630.xsd (EX-101.SCH) — 45KB
• eubg-20240630_cal.xml (EX-101.CAL) — 40KB
• eubg-20240630_def.xml (EX-101.DEF) — 193KB
• eubg-20240630_lab.xml (EX-101.LAB) — 342KB
• eubg-20240630_pre.xml (EX-101.PRE) — 187KB
• ea0210853-10q_entrepreneur_htm.xml (XML) — 579KB

SIGNATURES

SIGNATURES 10 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 statements contained in this Quarterly Report are only estimates or predic

View Full Filing

View this 10-Q filing on SEC EDGAR