UPAY Files Amended 10-Q, Confirms 16.6M Shares Outstanding
Ticker: UPYY · Form: 10-Q/A · Filed: Jul 24, 2025 · CIK: 1677897
| Field | Detail |
|---|---|
| Company | Upay (UPYY) |
| Form Type | 10-Q/A |
| Filed Date | Jul 24, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q/A, SEC Filing, Smaller Reporting Company, Emerging Growth Company, Share Count, Regulatory Compliance, Prepackaged Software
Related Tickers: UPYY
TL;DR
**UPAY's amended 10-Q confirms regulatory compliance and share count, but lacks financial specifics, leaving investors in the dark on performance.**
AI Summary
UPAY, Inc. filed an Amended Form 10-Q for the quarter ended May 31, 2025, as a smaller reporting company and an emerging growth company. The filing, dated July 24, 2025, confirms the company is not a shell company and has 16,595,211 shares outstanding as of July 14, 2025. This amendment, number 1, pertains to the quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934. The company, incorporated in Nevada with IRS Employer Identification No. 37-1793622, operates in the prepackaged software services industry (SIC 7372). While specific revenue and net income figures are not detailed in the provided text, the filing indicates compliance with SEC reporting requirements, having filed all required reports in the preceding 12 months and being subject to such requirements for the past 90 days. UPAY also confirmed electronic submission and posting of Interactive Data Files as required by Rule 405 of Regulation S-T. The primary purpose of this 10-Q/A is to amend the original 10-Q for the period ending May 31, 2025.
Why It Matters
This amended 10-Q filing provides updated regulatory information for UPAY, Inc., confirming its status as a smaller reporting and emerging growth company, which impacts compliance burdens and investor perception. The disclosure of 16,595,211 shares outstanding as of July 14, 2025, is crucial for investors to calculate market capitalization and per-share metrics, offering a clearer picture of the company's valuation. For employees and customers, the consistent regulatory compliance, including the electronic submission of Interactive Data Files, signals operational stability and transparency. In a competitive prepackaged software market, adherence to SEC regulations helps maintain investor confidence and market credibility.
Risk Assessment
Risk Level: medium — The risk level is medium because while UPAY, Inc. demonstrates regulatory compliance by filing the 10-Q/A and confirming its non-shell status, the provided text lacks specific financial performance data like revenue or net income. This absence of key financial metrics makes it difficult for investors to assess the company's operational health and future prospects, despite the disclosure of 16,595,211 shares outstanding.
Analyst Insight
Investors should seek the full amended 10-Q to analyze the specific financial changes and performance metrics that necessitated this amendment. Without revenue, net income, or balance sheet details, any investment decision based solely on this summary would be speculative.
Key Numbers
- 16,595,211 — Shares Outstanding (As of July 14, 2025, crucial for market capitalization calculations.)
- May 31, 2025 — Quarterly Period End Date (The period covered by the amended 10-Q filing.)
- July 24, 2025 — Filing Date (Date the 10-Q/A was officially filed with the SEC.)
- 1 — Amendment Number (Indicates this is the first amendment to the original 10-Q.)
- 1934 — Securities Exchange Act Year (The act under which the quarterly report is filed (Section 13 or 15(d)).)
- 37-1793622 — IRS Employer Identification No. (UPAY's unique tax identification number.)
- 7372 — SIC Code (Represents UPAY's industry classification: Services-Prepackaged Software.)
- 000-55747 — Commission File Number (UPAY's unique identifier with the SEC.)
Key Players & Entities
- UPAY, Inc. (company) — Registrant and small business issuer
- SEC (regulator) — United States Securities and Exchange Commission
- Nevada (regulator) — State of incorporation for UPAY, Inc.
- 37-1793622 (regulator) — UPAY's I.R.S. Employer Identification No.
- 3010 LBJ Freeway, 12th Floor, Dallas, Texas 75234 (company) — Address of UPAY's principal executive offices
- 972-888-6052 (company) — UPAY's business telephone number
- 000-55747 (regulator) — SEC File Number for UPAY
- 0001677897 (company) — UPAY's Central Index Key (CIK)
- 06 Technology (company) — Organization Name associated with UPAY's CIK
- 7372 (company) — Standard Industrial Classification (SIC) for Services-Prepackaged Software
FAQ
What is the purpose of UPAY's 10-Q/A filing?
UPAY's 10-Q/A filing, Amendment Number 1, is an amended quarterly report for the period ended May 31, 2025, filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. It updates or corrects information from the original 10-Q.
How many shares of UPAY, Inc. were outstanding as of July 14, 2025?
As of July 14, 2025, UPAY, Inc. had 16,595,211 shares outstanding, as stated in the 10-Q/A filing.
Is UPAY considered a shell company according to the 10-Q/A?
No, the 10-Q/A explicitly indicates by check mark that UPAY, Inc. is not a shell company, as defined in Rule 12b-2 of the Exchange Act.
What is UPAY's business address and phone number?
UPAY's business address is 3010 LBJ Freeway, Suite 1200, Dallas, Texas 75234, and its telephone number is (972) 888-6052.
What is UPAY's industry classification?
UPAY, Inc. is classified under Standard Industrial Classification (SIC) code 7372, which corresponds to Services-Prepackaged Software.
Has UPAY complied with SEC filing requirements in the past year?
Yes, UPAY, Inc. has indicated by check mark that it has filed all reports required by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and has been subject to such filing requirements for the past 90 days.
What is UPAY's status regarding being a smaller reporting company or emerging growth company?
UPAY, Inc. has indicated by check mark that it is both a smaller reporting company and an emerging growth company.
When was UPAY's 10-Q/A for the quarter ended May 31, 2025, filed?
The 10-Q/A for the quarterly period ended May 31, 2025, was filed on July 24, 2025.
What is UPAY's state of incorporation?
UPAY, Inc. is incorporated in Nevada, as stated in the 10-Q/A filing.
Did UPAY submit and post Interactive Data Files as required?
Yes, UPAY, Inc. indicated by check mark that it has submitted electronically and posted on its corporate website every Interactive Data File required pursuant to Rule 405 of Regulation S-T during the preceding 12 months.
Industry Context
UPAY operates within the prepackaged software services industry (SIC 7372). This sector is characterized by rapid technological advancements, evolving customer demands, and intense competition from both established players and emerging startups. Companies in this space often focus on developing, marketing, and supporting specialized software solutions for various business needs.
Regulatory Implications
As a smaller reporting company and an emerging growth company, UPAY benefits from scaled disclosure requirements. However, it must maintain compliance with Section 13 or 15(d) of the Securities Exchange Act of 1934, including timely filing of reports and electronic submission of Interactive Data Files as per Regulation S-T.
What Investors Should Do
- Monitor future filings for detailed financial performance.
- Assess the impact of UPAY's 'smaller reporting company' and 'emerging growth company' status.
- Review the company's business strategy within the competitive software services market.
Key Dates
- 2025-05-31: Quarterly period end date — Marks the end of the reporting period for the amended 10-Q filing.
- 2025-07-24: Filing date of 10-Q/A — The date the amended quarterly report was officially submitted to the SEC.
- 2025-07-14: Shares outstanding record date — Establishes the number of outstanding shares for the period, crucial for market cap calculations.
Glossary
- 10-Q/A
- An amended quarterly report filed with the SEC, indicating corrections or additions to a previously filed 10-Q. (This filing is an amendment to UPAY's quarterly report for the period ending May 31, 2025.)
- Smaller Reporting Company
- A classification by the SEC for companies that meet certain thresholds for public float and revenue, allowing for scaled disclosure requirements. (UPAY is identified as a smaller reporting company, which may affect the complexity and extent of its SEC filings.)
- Emerging Growth Company
- A company that has total annual gross revenues of less than $1.235 billion during its most recently completed fiscal year, allowing for certain regulatory and disclosure accommodations. (UPAY qualifies as an emerging growth company, potentially benefiting from extended transition periods for new accounting standards.)
- SIC Code 7372
- Standard Industrial Classification code for 'Services-Prepackaged Software', indicating the company's primary business activity. (Classifies UPAY's business within the software services industry.)
- Rule 405 of Regulation S-T
- SEC rule requiring registrants to submit and post Interactive Data Files electronically. (UPAY has confirmed compliance with this rule, indicating electronic submission of financial data.)
Year-Over-Year Comparison
This filing is an amendment to the 10-Q for the quarter ended May 31, 2025. As it is an amendment, specific comparative metrics to a prior year's filing are not detailed within the provided text. The primary focus is on confirming UPAY's status as a smaller reporting and emerging growth company and providing updated information regarding shares outstanding.
Filing Details
This Form 10-Q/A (Form 10-Q/A) was filed with the SEC on July 24, 2025 regarding UPAY (UPYY).