UbuyHoldings, Inc. (UBYH), a Nevada-based public shell company, reported no revenue or operational activities for the fiscal year ending May 31, 2025. The company recorded a net loss of $52,725, a decrease from the previous year's loss of $284,102. This reduction in losses is attributed to a significant decrease in general and administrative expenses, which fell from $284,102 in 2024 to $52,725 in 2025. The company has not generated any revenue since its dormancy began in 2001 and continues to face substantial financial challenges, including an accumulated deficit of $14,266,285.
In terms of organizational changes, UbuyHoldings underwent a significant transition in leadership. Following a custodianship appointment in July 2023, David Lazar was named CEO and Chairman. However, in June 2024, a Stock Purchase Agreement was executed, resulting in Lazar's resignation and the appointment of John Tan Honjian as the new CEO and President. This change in management is part of the company's strategy to seek a merger with an operating business, although no specific candidates have been identified as of the filing date.
The company has not engaged in any business activities that would generate revenue, and it currently has no full-time employees. The management team, consisting of part-time executives, is focused on identifying potential business opportunities for acquisition. UbuyHoldings has 284,367,820 shares of common stock outstanding, held by approximately 776 record stockholders. The company has not paid dividends and does not anticipate doing so in the foreseeable future.
UbuyHoldings faces significant risks, including its status as a shell company, which limits its operational capabilities and marketability. The company has no current plans to raise capital through the sale of securities, and its ability to secure financing is uncertain. The management acknowledges that the search for a viable business combination is complex and fraught with challenges, particularly in a competitive market where many firms are seeking similar opportunities. The outlook remains uncertain, with management expressing doubts about the company's ability to continue as a going concern without successfully identifying and acquiring a suitable business.
About UBUYHOLDINGS INC
UbuyHoldings, Inc. is a Nevada shell company seeking to merge with or acquire an operating business across any industry or region. Its core activity involves identifying and completing a business combination to create shareholder value, relying on reverse mergers or asset acquisitions. The company has no current operations or revenue, limited resources, and faces significant risks related to finding suitable targets, dilution, and market liquidity.
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