United Express Restates Financials

TL;DR

UEC won't trust old financials, expect restatements.

AI Summary

United Express Inc. announced on May 21, 2024, that it will not rely on previously issued financial statements for the periods ending June 30, 2023, and September 30, 2023. This decision stems from an ongoing review of its financial reporting, which may lead to material adjustments.

Why It Matters

Investors should be aware that previously reported financial figures may be inaccurate, potentially impacting the company's valuation and future investment decisions.

Risk Assessment

Risk Level: medium — The non-reliance on previously issued financial statements indicates potential accounting issues that could lead to significant adjustments and uncertainty.

Key Players & Entities

• United Express Inc. (company) — Registrant
• May 21, 2024 (date) — Date of earliest event reported
• June 30, 2023 (date) — Period affected by financial statement non-reliance
• September 30, 2023 (date) — Period affected by financial statement non-reliance

FAQ

Filing Documents

• unxp052224form8k.htm (8-K) — 29KB
• 0001607062-24-000205.txt ( ) — 195KB
• unxp-20240521.xsd (EX-101.SCH) — 3KB
• unxp-20240521_lab.xml (EX-101.LAB) — 33KB
• unxp-20240521_pre.xml (EX-101.PRE) — 22KB
• unxp052224form8k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 21, 2024 UNITED EXPRESS INC. (Exact name of registrant as specified in its charter) Nevada 82-1965608 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Commission File No. 333-227194 4345 W. Post Road , Las Vegas , Nevada 89118 (Address of Principal Executive Offices) ( 949 ) 350-0123 (Registrant's telephone number, including area code) N/A (Former name or former address, if changes since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares UNXP OTC Markets Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 1 Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review As a result of a review of our company's transactions, due to a comment from the Securities and Exchange Commission and subsequent to our filing of a Form 10-Q for the interim period ended December 31, 2023, we identified certain errors that have a material impact on our previously issued financial information contained in the Form 10-Q for the period ended December 31, 2023, initially filed with the Securities and Exchange Commission in February 12, 2024. In performing this review our company discovered that certain note disclosure to our interim financial statements had material changes that were required. This pertained to footnote disclosure in regards to our acquisition of Jebour Two Ltd and its wholly owned subsidiary, Fighting Leagues LV Inc. We accounted for the acquisition as a business combination as opposed to an asset acquisition and have reconsidered the determination of whether Jebour Two is considered a business pursuant to ASC 805-10-55-3A through 55-9 given that the license issued by the Nevada State Athletic Commission was the key material asset of the acquisition. We have discussed these issues with our independent accountants and are working with them to ensure additional reviews of our proposed amended disclosure. Our company plans to file a further amendment to the Quarterly Report on Form 10-Q for the period ended December 31, 2023, in order to accurately disclose the impact on the quarterly period. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED EXPRESS INC. Dated: May 22, 2024 By: /s/ Ralph White Ralph White Director 3

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View this 8-K filing on SEC EDGAR