Kuber Resources Corp Q2 2024 10-Q Filing

TL;DR

Kuber Resources Corp filed its Q2 2024 10-Q. Financials are in. Check preferred stock details.

AI Summary

Kuber Resources Corp filed its 10-Q for the period ending June 30, 2024. The filing details financial information for the second quarter and first half of 2024. Key financial data and disclosures related to preferred stock and common stock are presented.

Why It Matters

This filing provides investors with an update on Kuber Resources Corp's financial performance and position as of mid-2024, crucial for assessing the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 20240814 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Kuber Resources Corp (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240814 (date) — Filing date
• NV (state) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — icable date: 132,606,582 common shares, $0.001 par value, issued and outstanding as of

Filing Documents

• k81224410q.htm (10-Q) — 657KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32_1.htm (EX-32.1) — 4KB
• ex32_2.htm (EX-32.2) — 4KB
• kuberchart.jpg (GRAPHIC) — 71KB
• 0001214659-24-014588.txt ( ) — 3881KB
• kubr-20240630.xsd (EX-101.SCH) — 32KB
• kubr-20240630_cal.xml (EX-101.CAL) — 48KB
• kubr-20240630_def.xml (EX-101.DEF) — 102KB
• kubr-20240630_lab.xml (EX-101.LAB) — 229KB
• kubr-20240630_pre.xml (EX-101.PRE) — 192KB
• k81224410q_htm.xml (XML) — 506KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION: Item 1. Consolidated Financial Statements (Unaudited) 4 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 5 Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Changes in Stockholders' Deficit for the Six Months Ended June 30, 2024 and 2023 (unaudited) 7 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 8 Notes to the Unaudited Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Submission of Matters to a Vote of Securities Holders 31 Item 5. Other Information 31 Item 6. Exhibits 32

Signatures

Signatures 33 3 PART 1 – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements The accompanying interim consolidated financial statements of KUBER RESOURCES CORPORATION . ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements should be read in conjunction with the company's latest annual financial statements. In the opinion of management, the consolidated financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 Kuber Resources Corporation Consolidated Balance Sheets As of June 30, 2024 and December 31, 2023 Unaudited June 30, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 144,444 $ 143,860 Accounts receivable, net - 1,102,097 Inventory, net 86,054 - Advances to suppliers 1,087,590 1,087,590 Due from related parties 3,878,473 1,110,135 Other receivables and current assets 98,419 29,617 Total Current Assets 5,294,980 3,473,299 Non-Current Assets Property, plant and equipment, net - 13,907 Intangible assets, net 1,812,998 2,069,849 Operating lease right of use asset, net 108,585 154,316 Total Non-Current Assets 1,921,583 2,238,072 Total Assets 7,216,563 5,711,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses 647,314 358,441 Other payables 11,696 3,518 Due to related parties 501,280 261,385 Taxes payable 845,474 570,494 Advances from customers 405,551 183,811 Operating lease liabilities - current

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023 (Unaudited) Note 1 – Organization and Nature of Business Kuber Resources Corporation formerly known as Uonlive Corporation ("KUBR" or the "Company") was incorporated under the laws of the State of Nevada on January 29, 1998 as Weston International Development Corporation. On July 28, 1998, its name was changed to Txon International Development Corporation. On September 15, 2000, the Company changed its name to China World Trade Corporation. On July 2, 2008, the Company further changed its name to Uonlive Corporation. The Company ceased its former operations in early 2015. The Company has fully impaired all assets since the shutdown of its operations in 2015 and has recorded the effects of this impairment as part of its discontinued operations. On June 15, 2018, the eight judicial District Court of Nevada appointed Small Cap Compliance, LLC as custodian for Uonlive Corporations., proper notice having been given to the officers and directors of Uonlive Corporation and there was no opposition. On September 10, 2019, the Company filed a certificate of revival with the state of Nevada, appointing Raymond Fu as, President, Secretary, Treasurer and Director. On March 2, 2020, the Company entered into a Definitive Share Agreement whereby Raymond Fu, the sole shareholder of Asia Image Investment Limited ("Asia Image"), relinquished all his shares in Asia Image and acquired 100,000 shares of the Company. Consequently, Asia Image became a wholly-owned subsidiary of the Company. Since the major shareholder of the Company retained control of both the Company and Asia Image, the share exchange was accounted for as a reverse merger. As such, the Company recognized the assets and liabilities of Asia Image, acquired in the Reorganization, at their historical carrying amounts. On November 7, 2022, the Company acquired all shares of Kuber Resources (Hong Kong) Limited ("Kuber HK")

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View this 10-Q filing on SEC EDGAR