Ownership / Upay | Tables in SEC filings

UPYY Upay

Quarterly report (amended)

	August 31, 2024		February 29, 2024
	(unaudited)

ASSETS

Current Assets

Cash and cash equivalents	$	121,846	$	642,846
Accounts receivable, net of allowance		30,571		73,395
Prepaid expenses and other current assets		13,146		2,884

Total Current Assets		165,563		719,125

Property and Equipment, Net (Note 3)		20,596		22,638
Right-of-use Assets, Net (Note 4)		9,168		18,169
Deposit (Note 11)		11,356		10,408

Total Assets	$	206,683	$	770,340

LIABILITIES AND STOCKHOLDERS’ DEFICIT

Current Liabilities

Accounts payable and accrued liabilities	$	66,863	$	572,904
Due to related parties (Note 5)		68,016		54,774
Current portion of lease liabilities (Note 7)		9,168		18,169
Current portion of notes payable (Note 6)		52,143		52,143
Notes payable – Related parties (Note 5)		251,000		251,000

Total Current Liabilities		447,190		948,990

Non-Current Liabilities

Notes Payable (Note 6)		76,157		76,157

Total Liabilities		523,347		1,025,147

Stockholders’ Deficit

Preferred Stock, $0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding		–		–
Common Stock, $0.001 par value, 100,000,000 shares authorized; 16,128,544 and 15,708,544 shares issued and outstanding, respectively		16,128		15,708
Common Stock Issuable		479,995		313,331
Additional Paid-in Capital		1,216,170		1,116,590
Accumulated Deficit		(1,965,190)		(1,623,189)
Accumulated Other Comprehensive Loss		(63,767)		(77,247)

Total Stockholders’ Deficit		(316,664)		(254,807)

Total Liabilities and Stockholders’ Deficit	$	206,683	$	770,340

Years ending February 28:	Building Lease (Operating Lease)

2025	$	9,329

Net minimum lease payments		9,329
Less: amount representing interest payments		(161)

Present value of net minimum lease payments		9,168
Less: current portion		(9,168)

Long-term portion	$	–

	Three months		Three months		Six months		Six months
	Ended		Ended		Ended		Ended
	August 31,		August 31,		August 31,		August 31,
	2024		2023		2024		2023

Revenue	$	168,071	$	364,042	$	425,320	$	696,618
Cost of Revenue		(49,378)		(158,335)		(183,711)		(317,471)

Gross Profit		118,693		205,707		241,609		379,147

Expenses

Amortization of right-of-use assets (Note 4)		–		–		–		888
Depreciation (Note 3)		1,951		3,471		3,855		13,190
General and administrative		300,946		370,363		565,956		559,261

Total Expenses		302,897		373,834		569,811		573,339

Loss Before Other Income (Expenses) and Income Taxes		(184,204)		(168,127)		(328,202)		(194,192)

Other Income (Expenses)

Interest income		914		1,893		2,771		3,006
Interest expense		(8,034)		(8,384)		(16,570)		(16,704)
Gain on settlement of lease (Note 7)		–		–		–		1,052

Loss Before Income Taxes		(191,324)		(174,618)		(342,001)		(206,838)

Provision for income taxes		–		–		–		–

Net Loss		(191,324)		(174,618)		(342,001)		(206,838)

Other Comprehensive Income (Loss)

Foreign currency translation adjustments		10,453		4,776		13,480		(3,776)

Comprehensive Loss	$	(180,871)	$	(169,842)	$	(328,521)	$	(210,614)

Net Loss Per Share – Basic and Diluted	$	(0.01)	$	(0.01)	$	(0.02)	$	(0.01)

Weighted-average Common Shares Outstanding – Basic and Diluted		16,467,742		17,363,037		16,329,061		17,276,624

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