United Express Inc. Files Q1 2024 10-Q/A Amendment

TL;DR

UEI filed an amended Q1 report. Check financials.

AI Summary

United Express Inc. filed a 10-Q/A amendment on August 29, 2024, for the period ending September 30, 2023. The filing pertains to their first quarter of fiscal year 2024, with comparative data for the first quarter of fiscal year 2023. The company is incorporated in Nevada and operates in the transportation services sector.

Why It Matters

This amended filing provides updated financial information for United Express Inc.'s first quarter, crucial for investors and analysts assessing the company's performance and financial health.

Risk Assessment

Risk Level: low — The filing is a routine amendment to a quarterly report and does not appear to contain significant new negative information.

Key Numbers

• Q1 2024 — Reporting Period (The amended filing covers the first quarter of fiscal year 2024.)
• Q1 2023 — Comparative Period (The filing includes comparative financial data for the first quarter of fiscal year 2023.)

Key Players & Entities

• United Express Inc. (company) — Filer of the 10-Q/A
• 0001493152-24-034281 (filing_id) — Accession number for the filing
• 20230930 (date) — Period of report end date
• 20240829 (date) — Filing date
• NV (state) — State of incorporation

FAQ

Key Financial Figures

• $2,084 — iquidity and Capital Resources We had $2,084 of cash on hand as of September 30, 202
• $4,370 — sh on hand as of September 30, 2022 and $4,370 on hand as of September 30, 2022. We be

Filing Documents

• form10-qa.htm (10-Q/A) — 319KB
• ex31-1.htm (EX-31.1) — 11KB
• ex32-1.htm (EX-32.1) — 5KB
• 0001493152-24-034281.txt ( ) — 1748KB
• unxp-20230930.xsd (EX-101.SCH) — 17KB
• unxp-20230930_cal.xml (EX-101.CAL) — 22KB
• unxp-20230930_def.xml (EX-101.DEF) — 37KB
• unxp-20230930_lab.xml (EX-101.LAB) — 118KB
• unxp-20230930_pre.xml (EX-101.PRE) — 97KB
• form10-qa_htm.xml (XML) — 139KB

forward-looking statements

forward-looking statements. 2 TABLE OF CONTENTS Page PART I

Financial Statements

Financial Statements 4 Item 1. 4 Balance Sheets as of September 30, 2023 and June 30, 2023 4 5 6 7

Notes to Financial Statements

Notes to Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 13

Controls and Procedures

Item 4. Controls and Procedures 13

Other Information

PART II Other Information

Legal Proceedings

Item 1. Legal Proceedings 14 Item IA. Risk Factors 14

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 14

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 14

Other Information

Item 5. Other Information 14

Exhibits

Item 6. Exhibits 15

Signatures

Signatures 16 3 PART I - FINANCIAL INFORMATION Item 1. Financial Statements UNITED EXPRESS, INC. BALANCE SHEET SEPTEMBER 30, 2023 AND JUNE 30, 2023 September 30, 2023 June 30, 2023 Unaudited - Restated Audited ASSETS CURRENT ASSETS: Cash $ 2,094 $ 609 TOTAL CURRENT ASSETS $ 2,094 $ 609 NON-CURRENT ASSETS: Intangibles $ 13,098,890 $ 0 Production and Stage Equipment $ 1,058,209 $ 0 TOTAL NON-CURRENT ASSETS $ 14,157,099 $ 0 TOTAL ASSETS $ 14,159,193 $ 609 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accrued Accounts Payable $ 1,059,110 $ 1 TOTAL CURRENT LIABILITIES $ 1,059,110 $ 1 STOCKHOLDERS' EQUITY Common stock, $ 0.001 par value; 75,000,000 shares authorized 27,972,951 shares issued and outstanding at September 30, 2023 and 15,592,000 shares issued and outstanding at June 30, 2023, respectively $ 27,972 $ 15,592 Additional paid in capital $ 13,046,839 $ 59,219 Net Profit (loss) accumulated $ 25,272 $ ( 74,203 ) TOTAL STOCKHOLDERS' EQUITY $ 13,100,083 $ 608 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 14,159,193 $ 609 See

notes to financial statements

notes to financial statements 4 UNITED EXPRESS, INC. FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023 AND SEPTEMBER 30, 2022 For the three months ended September 30, 2023 - Restated For the three months ended September 30, 2022 REVENUES Sales $ 115,350 $ 65,195 TOTAL REVENUES $ 115,350 $ 65,195 COST OF SALES TOTAL COST OF GOODS SOLD $ 0 $ 58,925 GROSS PROFIT (LOSS) $ 115,350 $ 6,270 Operating expenses: General and administration expenses $ 10,875 $ 9,637 OTC Market fees $ 5,000 $ 0 TOTAL OPERATING EXPENSES $ 15,875 $ 9,637 INCOME (LOSS) BEFORE INCOME TAXES $ 99,475 $ ( 3,367 ) INCOME TAXES $ 0 $ 0 NET INCOME (LOSS) $ 99,475 $ ( 3,367 ) NET INCOME (LOSS) PER BASIC AND DILUTED SHARE $ 0 $ 0 WEIGHTED AVERAGE OF COMMON SHARES OUTSTANDING 16,830,095 15,592,000 See

notes to financial statements

notes to financial statements 5 UNITED EXPRESS INC. OF STOCKHOLDERS' EQUITY (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023 Shares Par Value APIC Earnings / (Deficit) Stockholders' Equity Common Stock Accumulated Total Shares Par Value APIC Earnings / (Deficit) Stockholders' Equity Balance, June 30, 2023 15,592,000 $ 15,592 $ 59,219 $ ( 74,203 ) $ 608 Shares issued to acquire Intangibles and Equipment 12,380,951 $ 12,380 $ 12,987,620 $ 0 $ 13,000,000 Net profit - $ 99,475 $ 99,475 Balance, September 30 , 2023 – Restated 27,972,951 $ 27,972 $ 13,046,839 $ 25,272 $ 13,100,083 OF STOCKHOLDERS' EQUITY (UNAUDITED) FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 Common Stock Total Shares Par Value APIC Accumulated Deficit Stockholders' Equity Balance, June 30, 2022 15,592,000 $ 15,592 $ 59,219 $ ( 67,075 ) $ 7,736 Balance,value 15,592,000 $ 15,592 $ 59,219 $ ( 67,075 ) $ 7,736 Net loss - - - $ ( 3,367 ) $ ( 3,367 ) Net profit (loss) - - - $ ( 3,367 ) $ ( 3,367 ) Balance, September 30, 2022 15,592,000 $ 15,592 $ 59,219 $ ( 70,442 ) $ 4,369 Balance, value 15,592,000 $ 15,592 $ 59,219 $ ( 70,442 ) $ 4,369 See

notes to financial statements

notes to financial statements 6 UNITED EXPRESS INC. FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023 AND SEPTEMBER 30, 2022 For the three months ended September 30, For the three months ended September 30, 2023 - Restated 2022 Cash flows from operating activities: Net income (loss) $ 99,475 $ ( 3,367 ) Net cash (used in) provided by operating activities $ 99,475 $ ( 3,367 ) Cash flows from investing activities: Net cash used in investing activities $ ( 98,000 ) $ 0 Cash flows from financing activities: Net cash provided by financing activities $ 0 $ 0 NET INCREASE (DECREASE) IN CASH $ 1,475 $ ( 3,367 ) CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD $ 609 $ 7,737 CASH AND CASH EQUIVALENTS - ENDING OF PERIOD $ 2,084 $ 4,370 Supplemental non cash disclosures: Issuance of shares to acquire Intangibles and Equipment 12,380,951 - See

notes to financial statements

notes to financial statements 7 UNITED EXPRESS, INC. NOTES TO FINANCIAL STATEMENTS FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2023 AND FOR THE THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2022 NOTE 1 - Description of Business We are an Emerging Growth Company with revenue generating operations. We were formed on June 23, 2017. United Express operates as a general company of transportation and logistics - to deliver merchandises and other items for companies and individuals across the United States. 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 merchandise. The Company receives orders for service from companies 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. Fluctuations in oil prices have caused the freight and logistic industries costs to increase during last 3 months. 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. On September 21, 2023, the Company entered into an agreement with Jebour Two Limited and the shareholders of Jebour Two (collectively Jebour) to issue 12,380,951 shares. The shares issued were to three non "U.S. persons" in an "offshore transaction (as those terms are defined in Regulation S of the Securities Act of 1933). Relying on Regulation S and/or Section 4(a)(2) of the Securities Act of 1933, as amended. Jeb

Risk Factors in our 10K report

Item 1A Risk Factors in our 10K report. 12 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis should be read in conjunction with the balance sheet as of June 30,23 and September 30,2023 and the financial statements for the three months period ended September 30, 2023, included herein. The results shown herein are not necessarily indicative of the results to be expected for any future periods. We are an emerging growth company incorporated in the State of Nevada on June 23, 2017. United Express Inc. was incorporated in the state of Nevada on June 23, 2017. Our business is to provide a comprehensive management service for long and short distance logistics for clients in the Company's target market area. Acquisition of Fighting Leagues The acquisition of the assets of Fighting Leagues, specifically including the promotor's license, past media rights and production and staging equipment, will allow the Company to assess the viability of promoting such combat sports events in the State of Nevada. Whilst the assets acquired provides the Company the infrastructure and licenses to promote and hold such fights, the Company continues to assess the profitability and time and effort required to hold such events in the State of Nevada since to hold such events requires significant planning and capital and any potential earnings from such events may not be realized for up to 6-9 months. At present we lack the capital resources to plan and hold such events. Cash Requirements, Liquidity and Capital Resources We had $2,084 of cash on hand as of September 30, 2022 and $4,370 on hand as of September 30, 2022. We believe our cash on hand is unlikely to be sufficient to meet our current working capital and capital expenditure requirements in the absence of substantial additional revenue from our current operations or contributions of additional debt or equity capital. We do not have any com

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