Mark One

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended February 28, 20192021

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to _______to_______________________________

COMMISSION FILE NO. 333-228161

UNEX HOLDINGS INC.

 (Exact(Exact name of registrant as specified in its charter)

Unex Holdings Inc.

Ul. Sveti Kliment Ohridski 27, Apt. 8No. 2A, Jalan PJU 3/48

Burgas, Bulgaria 8000Sunway Damansara

47810 Selangor, Malaysia

Tel. +359-884303333+603 7733 5727

 (Address(Address and telephone number of registrant'sregistrant’s executive office)

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Copies to:

Lawrence Venick, Esq.
Loeb & Loeb LLP
2206-19 Jardine House
1 Connaught Place, Central
Hong Kong SAR
Tel: +852.3923.1111
Fax: +852.3923.1100

Indicate by checkmark whether the issuer: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [  ]

Indicate by check mark whether the registrant is a large accelerated filed, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [  ]

Accelerated filer [  ]

Non-accelerated filer [  ]

Smaller reporting company [X]

Emerging growth company [X]

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. YES [  ] NO [X]

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [   ][X] No [  X ]

Applicable Only to Issuer Involved in Bankruptcy Proceedings During the Preceding Five Years. N/A

Indicate by checkmark whether the issuer has filed all documents and reports required to be filed by Section 12, 13 and 15(d) of the Securities Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes [  ] No [  ]

Applicable Only to Corporate Registrants

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the most practicable date:

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PageUNEX HOLDING INC.

3 |PageBALANCE SHEETS

Advertising Costs

The Company’s policy regarding advertising is to expense advertising when incurred. The Company did not incur advertising expenseexpenses during the period ended February 28, 2019.2021.

Stock-Based Compensation

As of February 28, 2019,2021, the Company has not issued any stock-based payments to its employees.

Stock-based compensation is accounted for at fair value in accordance with ASC 718, when applicable. To date, the Company has not adopted a stock option plan and has not granted any stock options.

Income Taxes

The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Property and Equipment Depreciation Policy

Property and equipment are stated at cost and depreciated on the straight-line method over the estimated life of the asset, which is 3 years

New Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to a have a material impact on our financial position, operations, or cash flows.

Start-Up Costs

In accordance with ASC 720,824, “Start-up Costs”, the company expenses all costs incurred in connection with the start-up and organization of the company.

Fair Value Measurements

The company adopted the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures”, which defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value, and expands disclosure of fair value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents are carried at a historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes sixthree levels of inputs that may be used to measure fair value:

Level 1 — quoted prices in active markets for identical assets or liabilities

Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable

Level 3 — inputs that are unobservable (for example cash flow modeling inputs based on assumptions)

The company has no assets or liabilities valued at fair value on a recurring basis.

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Subsequent Events

The Company has evaluated all events that occurred after the balance sheet date of February 28, 20192021, through March 6, 2019, the date these financial statements were issued and did not have any material recognizable subsequent events after February 28, 2019.  2021.

NONE

NOTE 4 – FIXED ASSETS

On September 24, 2018, the company purchased a computer for $950. For the six months ended February 28, 2019 the Company recognized $132 in depreciation expense. The Company depreciates this asset over a period of thirty-six (36) months which has been deemed its useful life. For the six months periods ended February 28, 2021, and for the year ended August 31, 2020, the Company recognized $79 and $317 in depreciation expense respectively. For the six months ended February 28, 2021, the Company wrote off the computer based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

NOTE 5 – STOCKHOLDERS EQUITY

The Company has 75,000,000 shares of common stock authorized with a par value of $0.001 per share.

On

For the year ended August 20, 2018,31, 2020, the Company issued 2,000,000cancelled 65,000 of its common shares at $0.001 per share forstock and accrued a stock refund payable of $1,950.For the total proceeds of $2,000. On August 21, 2018six months period ended February 28, 2021, the Company issued 100,000 at $0.01 per share forwrote-off stock refund payable of $1,950 based on the total proceedsterms of $1,000;the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on August 31, 2018the Effective Date (defined hereunder) the Company issued 170,000 at $0.01 per share for the total proceedswill have no assets and no debt of $1,700. In February 2019,any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company issued 60,000 at $0.03 per share for the total proceeds of $1,800.shall be cancelled without liability.

As of February 28, 2019,2021, and August 31, 2020, the Company had 2,330,0002,970,000 shares issued and outstanding.

NOTE 6 – RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attainsattain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note.

Since

From February 17, 2017 (Inception) through February 28, 2019,2021, Veniamin Minkov, the Company’s former sole officer and director loaned(prior to the change of control disclosed in Note 7), extended loan to the Company $9,217amounting to $11,567 to pay for incorporation costs and operating expenses. The loan is non-interest bearing, due upon demand, and unsecured.

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Veniamin Minkov, confirmed to the Board of Directors (“Board”) of the Company to forgive the loan extended by him to the Company amounting to $11,567. The Company wrote off cash balance of $40 and carrying amount of a fixed asset of $185 against a loan from related party of $11,567. The balance of the loan from related party and stock refund payable of $1,950 amounting to $13,292 were written off against additional paid- in capital.

In addition, based on the terms of the Agreement (defined hereunder) disclosed in Note 7 wherein Veniamin Minkov warranted that on the Effective Date (defined hereunder) the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

NOTE 7 – CHANGE OF CONTROL

Pursuant to the terms of the Securities Purchase Agreement dated February 26, 2021, by and among Veniamin Minkov, the former sole officer, director, and majority stockholder of the Company and Low Wai Koon (the “Agreement”), effective February 26, 2021 (the “Effective Time”), Veniamin Minkov, the then sole executive officer and director of the Company and the owner of 2,000,000 restricted shares of the Company’s common stock representing 67.34% of the Company’s issued and outstanding common stock (“Unex Shares”), sold the Unex Shares to Low Wai Koon for an aggregate consideration of $340,000, or approximately $0.17 per share. In addition, certain stockholders purchased 966,000 shares of the Company’s common stock in a series of private transactions for $0.05176 a share from non-affiliates of the Company (the “Non-Affiliate Shares”). Upon completion of the purchase of the Unex Shares, Low Wai Koon owned 2,000,000 shares, or approximately 67.34% of the issued and outstanding common stock of the Company, which resulted in a change of control of the Company. Upon completion of the Non-Affiliate Shares, certain stockholders owned 966,000 shares or approximately 32.53% of the issued and outstanding common stock of the Company.

In connection with the Agreement, on February 26, 2021, Veniamin Minkov resigned as the President, Treasurer, and Secretary of the Company and Chairman of the Board of the “Company. Mr. Minkov’s resignation as President, Treasurer, and Secretary of the Company and Chairman of the Board is effective immediately. Mr. Minkov’s resignation as a director will become effective ten (10) days following the filing by the Company of the Information Statement on Schedule 14f-1 with the United States Securities and Exchange Commission. Prior to Mr. Minkov’s resignation, he appointed Low Wai Koon as the Company’s director and Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Secretary and Treasurer, of the Company.

In accordance with the terms of the Agreement, Veniamin Minkov warranted that on the Effective Date the Company will have no assets and no debt of any kind including no outstanding tax liabilities and that all existing contracts entered into by the Company shall be cancelled without liability.

ITEM 2. MANAGEMENT'SMANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

FORWARD LOOKINGFORWARD-LOOKING STATEMENTS

Statements made in this Form 10-Q that are not historical or current facts are "forward-looking statements"“forward-looking statements” made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act"“Act”) and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate"“may,” “will,” “expect,” “believe,” “anticipate,” “estimate,” “approximate” or "continue,"“continue,” or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management'smanagement’s best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

GENERAL INFORMATION

Unex Holdings Inc. was incorporated in the State of Nevada on February 17, 2017, and established the fiscal year endyear-end of August 31. We have no revenues, have minimal assets, and have incurred losses since inception. We were formed to provide geodesy services, and we are still in the development stage. Our business office is located at Ul. Sveti Kliment Ohridski 27, Apt. 8, Burgas, Bulgaria 8000.No. 2A, Jalan PJU 3/48, Sunway Damansara, 47810 Selangor, Malaysia. Our telephone number is +359-884303333.+603 7733 5727.

RESULTS OF OPERATIONS

Our financial statements have been prepared, assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

As of February 28, 2019,2021, our total assets were $4,024zero compared to $12,903 in total assets at$6,019 as of August 31, 2018.2020. As of February 28, 2019,2021, our total liabilities were $9,717$6 compared to $9,217 at$11,400 as of August 31, 2018.2020.

Stockholders’ deficit was $5,693$6 as of February 28, 20192021, compared to stockholders’ equity of $3,686$5,381 as of August 31, 2018.2020.

Three months ended February 28, 20192021, compared to three months February 28, 2018.

During the three months periods ended February 28, 2019 and 2018, we29, 2020.

The Company did not generate any revenue.

Duringrevenue for the three months ended February 28, 2019, we incurred expenses of $4,589 compared to $678 incurred during the three-month period2021 and three months ended February 28, 2018.29, 2020.

OurThe Company registered net loss forof $2,144 during the three months ended February 28, 2019 was $4,5892021, 44 compared to a net income of $678$4,568 during the three-month periodthree-months ended February 28, 2018.

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Six months ended February 28, 20192021, compared to six months February 28, 2018.

During the six months periods ended February 28, 2019 and 2018, we29, 2020.

The Company did not generate any revenue.

Duringrevenue during the six months ended February 28, 2019, we incurred expenses of $11,179 compared to $720 incurred during2021 and the six-month periodsix months ended February 28, 2018.29, 2020.

OurThe Company registered net loss of $7,917 for the six months ended February 28, 2019 was $11,1792021, compared to a net income of $720$9,688 during the six month periodthree months ended February 28, 2018.29, 2020.

Cash Flows used by Operating Activities

For the six-monthsix months period ended February 28, 2019,2021, net cash flows used in operating activities was $10,547.were $8,026. Net cash flows used in operating activities was $720were $6,930 for the six-monthsix months period ended February 28, 2018. Net cash flow used in operating activities increased due to the higher net loss.29, 2020.

Cash Flows used by Investing Activities

We used $950 in investing activities during the six-month period ended February 28, 2019 compared to $0 for the six-month period ended February 28, 2019. During the six-month period ended February 28, 2018, the Company purchased computer equipment to make operations more efficient.

Cash Flows from Financing Activities

For the six-month periodsix months ended February 28, 2019,2021, net cash flows from financing activities were $2,350, which was $1,800 receivedfinanced by a loan from related party. For the six months ended February 29, 2020 net cash flows from financing activities were $1,950 financed by the proceeds from the issuance of common stock compared to $5,000 received from proceeds of loan from shareholder for the six month period ended February 28, 2018.stock.

PLAN OF OPERATION AND FUNDING

We expect that working capital requirements will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital requirements are expected to increase in line with the growth of our business.

Existing working capital, further advances and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next twelve months. We have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional increases in operating expenses and capital expenditures relating to:to (i) acquisition of inventory; (ii) developmental expenses associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might have rights, preferences, or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict our business operations.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this Quarterly Report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

GOING CONCERN

The independent registered public accounting firm auditors'auditors’ report accompanying our August 31, 20182020, financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared "assuming“assuming that we will continue as a going concern,"” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.