Hubilu Venture Corp Files Q2 2024 10-Q

Ticker: HBUV · Form: 10-Q · Filed: Aug 19, 2024 · CIK: 1639068

Sentiment: neutral

Topics: 10-Q, quarterly-report, filing

TL;DR

**Hubilu Venture Corp filed its Q2 10-Q. Check financials.**

AI Summary

Hubilu Venture Corporation filed its quarterly report for the period ended June 30, 2024. The company is incorporated in Delaware and its principal executive offices are located at 205 South Beverly Drive, Suite 205, Beverly Hills, CA 90212. The filing indicates the company's telephone number is (310) 308-7887.

Why It Matters

This filing provides an update on Hubilu Venture Corporation's financial status and operational activities for the second quarter of 2024, crucial for investors assessing the company's performance.

Risk Assessment

Risk Level: low — This filing is a standard quarterly report and does not contain immediate red flags or significant new risks.

Key Players & Entities

FAQ

What is the filing date for this 10-Q report?

The filing is for the quarterly period ended June 30, 2024.

In which state is Hubilu Venture Corporation incorporated?

Hubilu Venture Corporation is incorporated in Delaware.

What is the principal executive office address of Hubilu Venture Corporation?

The principal executive offices are located at 205 South Beverly Drive, Suite 205, Beverly Hills, CA 90212.

What is the IRS Employer Identification Number for Hubilu Venture Corporation?

The IRS Employer Identification Number is 47-3342387.

Has Hubilu Venture Corporation filed all required reports for the preceding 12 months?

The filing indicates 'Yes' for having filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.

Filing Stats: 4,559 words · 18 min read · ~15 pages · Grade level 17.6 · Accepted 2024-08-19 17:36:29

Filing Documents

SIGNATURES

SIGNATURES 24 2 Part I – FINANCIAL INFORMATION Item 1. Financial Statements HUBILU VENTURE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash $ 135,798 $ 24,564 Accounts receivable 12,830 2,100 Prepaid expenses 493 9,500 Total current assets 149,121 36,164 Real estate: Land 12,933,049 11,800,304 Building and capital improvements 6,508,628 5,458,695 Property acquisition and financing 423,477 296,463 Less: accumulated depreciation ( 857,479 ) ( 762,406 ) Total real estate, net 19,007,675 16,793,056 Security deposits 31,600 6,600 Total assets $ 19,188,396 $ 16,835,820 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 45,655 $ 21,250 Advanced rents received 4,774 10,124 Accrued interest 64,421 39,402 Security deposits payable 295,060 300,383 Due to related party, current maturities 474,271 474,271 Mortgages payable, current maturities 2,210,810 768,961 Dividends payable 192,401 179,463 Total current liabilities 3,287,392 1,793,854 Mortgages payable, related party 599,594 599,594 Mortgages payable 15,981,687 15,104,744 Convertible preferred stock payable 520,400 520,400 Total liabilities 20,389,073 18,018,592 Stockholders' equity (deficit): Common stock, $ 0.001 par value, 100,000,000 shares authorized, 26,237,125 shares issued and outstanding 26,237 26,237 Additional paid-in capital 956,726 911,894 Accumulated deficit ( 2,183,640 ) ( 2,120,903 ) Total stockholders' equity (deficit) ( 1,200,677 ) ( 1,182,772 ) Total liabilities and stockholders' equity (deficit) $ 19,188,396 $ 16,835,820 See accompanying notes to financial statements. 3 HUBILU VENTURE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 2024 2023 2024 2023 For the Three Months Ended For the Six Months Ended June 30,

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