Longevity Diversified Holdings, Inc., formerly known as UBuyHoldings Inc., reported no revenue for the fiscal year ending May 31, 2026, maintaining its status as a shell company with no ongoing operations. The company recorded a net loss of $82,132, an increase from a loss of $52,725 in the previous fiscal year. This reflects a rise in general and administrative expenses, which totaled $82,132 for the year, compared to $52,725 the prior year. The accumulated deficit as of May 31, 2026, stood at approximately $14.35 million, indicating ongoing financial challenges.

The company underwent significant structural changes during the reporting period. In June 2024, a Stock Purchase Agreement was executed, resulting in the sale of 10 million shares of Series A-1 Preferred Stock, which represented 95% of the voting power of the company. This transaction led to a complete change in management, with new officers appointed, including John Tan Honjian as CEO and CFO. On March 31, 2026, the Series A-1 Preferred Stock was converted into over 5.4 billion shares of common stock, significantly increasing the total shares outstanding to approximately 5.69 billion.

Operationally, Longevity Diversified Holdings has no full-time employees and relies on part-time management, with its CEO and CFO each dedicating about 10 hours per week to company affairs. The company has no current business operations or revenue-generating activities, and its business model focuses on identifying potential merger or acquisition opportunities. However, as of the report date, no specific business combination has been identified, and the company has not engaged in discussions with any potential targets.

The company faces substantial risks, including its inability to secure financing necessary for operations and potential acquisitions. Management has expressed concerns regarding the company's ability to continue as a going concern, given its lack of revenue and ongoing losses. The company plans to seek equity and debt financing to support its operations and potential business combinations, but there is no assurance that it will be able to raise the necessary capital on favorable terms.

Looking ahead, Longevity Diversified Holdings aims to explore business opportunities both domestically and internationally, with a focus on acquiring a viable operating business. However, the management acknowledges the complexities and risks associated with this strategy, including competition for acquisition targets and the potential for significant dilution of existing shareholders' equity. The company remains committed to developing a comprehensive business plan, but the path forward is fraught with uncertainties that could impact its financial stability and operational viability.

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.

This description was generated via AI from an annual report. Updated about 1 year ago.

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