UbuyHoldings Reports Zero Revenue and Net Loss for Nine Months Ending February 2025

UbuyHoldings, Inc. reported its financial results for the nine months ending February 28, 2025, revealing a net loss of $0, compared to a net loss of $284,102 for the same period in the previous fiscal year. The company did not generate any revenue during this period, consistent with its status as a shell company with no current operations. Operating expenses for the nine months were also $0, a significant decrease from $284,102 in the prior year, primarily due to the absence of ongoing business activities.

The company’s balance sheet as of February 28, 2025, shows total stockholders' deficit remaining unchanged at $14,213,560, with no cash or cash equivalents reported. Notably, UbuyHoldings has seen a significant change in its capital structure, with the issuance of 105 million shares of common stock following the conversion of preferred shares. The total number of common shares outstanding increased to 284,367,820 from 179,367,820 as of May 31, 2024. This change reflects the company's strategic decision to restructure its equity in light of its ongoing custodianship and management transition.

In terms of strategic developments, UbuyHoldings underwent a significant leadership change in June 2024 when David Lazar resigned as CEO and was replaced by John Tan Honjian, who also took on the roles of President, CFO, and Secretary. This transition followed a stock purchase agreement that resulted in the sale of 10 million shares of Series A-1 Preferred Stock, which represented a substantial portion of the company's voting power. The company is currently exploring potential business combinations, including reverse mergers or asset purchases, to re-establish operations and generate revenue.

UbuyHoldings has not reported any customer counts or user statistics, as it currently has no operations or products. The company is in a phase of evaluating potential business opportunities within the U.S. market, with plans to incur costs related to investigating and negotiating potential acquisitions. Management has indicated that the lack of operations and revenue generation poses significant risks, including the need for additional capital to fund future business activities.

Looking ahead, UbuyHoldings anticipates continued operating losses as it navigates the complexities of re-entering the market. The company has expressed uncertainty regarding its ability to secure financing and the potential for dilution of existing shareholders due to future capital raises. Management's focus will be on identifying viable business opportunities while addressing the inherent risks associated with acquiring a financially unstable or early-stage entity. The outlook remains cautious, with the company acknowledging the challenges posed by current economic conditions and the need for a solid business strategy to achieve profitability.