United Express Inc. Files 2024 10-K

TL;DR

United Express Inc. 2024 10-K filed. Financials for FY24 out.

AI Summary

United Express Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its operations in the transportation services sector. The company is incorporated in Nevada and its principal business address is in Las Vegas. The filing includes financial data for the fiscal years 2022, 2023, and 2024, detailing common stock, additional paid-in capital, and retained earnings.

Why It Matters

This 10-K filing provides a comprehensive overview of United Express Inc.'s financial health and operational status for the fiscal year ending June 30, 2024, crucial for investors and stakeholders.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing header and does not contain specific financial performance details or forward-looking statements that would indicate a high risk.

Key Numbers

• 2024-06-30 — Fiscal Year End (Reporting period for the 10-K)
• 2023-06-30 — Previous Fiscal Year End (Comparative financial data)
• 2022-06-30 — Prior Fiscal Year End (Comparative financial data)

Key Players & Entities

• United Express Inc. (company) — Filer
• 0001751707 (company) — Central Index Key
• NV (location) — State of Incorporation
• Las Vegas (location) — Business Address City
• 0630 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.001 — g) of the Exchange Act: Common Stock, $0.001 par value Indicate by check mark if t
• $1.47 — was $ 12,168,870 based upon the price ($1.47) multiplied by the 8,278,143 number of
• $240,717 — 4, and 2023, the Company had revenue of $240,717 and $296,422, respectively. Revenue to
• $296,422 — the Company had revenue of $240,717 and $296,422, respectively. Revenue to date has been
• $59,550 — of $240,717. Cost of goods sold totaled $59,550 for a gross profit of $181,167 for the
• $181,167 — d totaled $59,550 for a gross profit of $181,167 for the year ended June 30, 2024. Our o
• $2,662,325 — e 30, 2024. Our operating expenses were $2,662,325 resulting in a net loss of $2,481,158 f
• $2,481,158 — e $2,662,325 resulting in a net loss of $2,481,158 for the year ended June 30, 2024. To be
• $40,000 — porting company may incur costs between $40,000 - $70,000 annually. As of June 30, 2024
• $70,000 — mpany may incur costs between $40,000 - $70,000 annually. As of June 30, 2024, we only
• $15,602 — ually. As of June 30, 2024, we only had $15,602 in cash. If we fail to generate suffici

Filing Documents

• form10-k.htm (10-K) — 505KB
• ex31-1.htm (EX-31.1) — 14KB
• ex32-1.htm (EX-32.1) — 5KB
• form10-k_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-038840.txt ( ) — 2372KB
• unxp-20240630.xsd (EX-101.SCH) — 21KB
• unxp-20240630_cal.xml (EX-101.CAL) — 28KB
• unxp-20240630_def.xml (EX-101.DEF) — 53KB
• unxp-20240630_lab.xml (EX-101.LAB) — 192KB
• unxp-20240630_pre.xml (EX-101.PRE) — 153KB
• form10-k_htm.xml (XML) — 153KB

Business

Business 3 Item 1A

Risk Factors

Risk Factors 6 Item 1B Unresolved Staff Comments 14 Item 2

Properties

Properties 14 Item 3

Legal Proceedings

Legal Proceedings 14 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16 Item 7

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

Management's Discussion and Analysis of Financial Condition and Results of Operation 16 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 19 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 20 Item 9A

Controls and Procedures

Controls and Procedures 20 Item 9B Other Information 20 PART III Item 10 Directors, Executive Officers and Corporate Governance 21 Item 11

Executive Compensation

Executive Compensation 22 Item 12

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 23 Item 13 Certain Relationships and Related Transactions, and Director Independence 23 Item 14 Principal Accountant Fees and Services 23 PART IV Item 15 Exhibits and Financial Statement Schedules 24

Signatures

Signatures 25 2 PART I Forward-Looking Information included in this Quarterly Report on Form 10-K (this "Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act") and the Private Securities Litigation Reform Act of 1995. This information may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of United Express Inc. (the "Company"), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. You should read the matters described and incorporated by reference in "Risk Factors" and the other cautionary statements made in this Report, and incorporated by reference herein, as being applicable to all related forward-looking statements wherever they appear in this Report. We cannot assure you that the forward-looking

forward-looking statements

forward-looking statements. Item 1. Business United Express Inc. (the "Company") currently operates as transportation and logistics company with the ability to deliver merchandise and other items throughout the United States. The Company has had limited operations since its founding. The Company has the ability to service the different transportation and logistics needs to many customers, as such, it is difficult to determine the average customer of the Company as the business has the freedom and the ability to effectively arrange for the transportation of any type of shipment. The Company receives orders from customers seeking to move merchandise, as well as people relocating to different areas. A primary concern for the Company is its ability to quickly respond to customer requests, provide affordable prices for the services, from pick up to drop off. In the event of a significant increase in the price of fuel, we will also reasonably increase prices (at a standardized rate of markup) to ensure the profitability of the business. We also provide dispatch services. This involves the Company doing search for transportation providers and connect them to cargo owners based upon delivery requirements, transportation routes, type of shipment, equipment requirements, cargo size, delivery time and price. The Company has begun to explore strategic opportunities to promote, produce, and sponsor, live mixed martial arts fights. There can no assurances that the Company will further pursue these opportunities or that these strategic opportunities will be successful. There is also the risk that as the Company evaluates these strategic opportunities that time and attention will be diverted from the transportation and logistics operations. On September 21, 2023, the Company entered into an agreement with Jebour Two Limited and its shareholders to issue 12,380,951 shares in exchange for certain assets of Jebour Two Limited held by its subsidiary Fighting Leagues LV ("Fighting

Business

Business Strategy We provide management service for long and short distance logistics for clients in the Company's target market areas. The Company offers our clients the transportation ability for all of their hauling needs through one business which will provide them with the ability to manage their shipments in a cost and time effective manner. The prices are determined on a shipment basis to accommodate our customers' needs based on our transportation capabilities, size and type of shipment, distance, route gas price, delivery time. 4 Our second business activity is a dispatch service to improve the efficiency of the clients' supply chain management and delivery operations. These services are now heavily in demand among product distributors and retailers. Our business strategy steps below: Search for cargo owners and private sellers who need transportation service; Communicate with owner operators, truck drivers and cargo vans owners to use their vehicles and services in the short term; Increase the number of wholly-owned cargo vans; We plan to work with auto dealers to purchase our own fleet of vehicles; Create a maintenance a repair shop for vehicle repairs; Search for cargo sellers; Search for drivers; Purchase the initial cargo vans inventories for our business; Create dispatch service department Additionally, the Company has begun to explore strategic opportunities to promote, produce, and sponsor, live mixed martial arts fights. The Company owns a Nevada Promoters License which allows the Company the ability to produce live mixed martial arts events in Nevada. Mixed martial arts is one of the fastest growing sports in the United States. Live events can generate revenue through sponsorships, ticket sales, broadcast rights, and other ancillary activities. Though the Company is exploring this strategic opportunity, there can no assurances that the Company will further pursue these opportunities or that these strategic opportunities

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View this 10-K filing on SEC EDGAR