United Express Reports 76% Revenue Decline and $22,565 Net Loss for Six Months Ending December 31, 2024

United Express, Inc. reported significant financial challenges in its latest 10-Q filing for the six months ending December 31, 2024. The company generated total revenues of $39,232, a substantial decline of 76% compared to $163,635 for the same period in 2023. The three-month revenue figures also reflected this downturn, with sales dropping to $10,120 from $48,285 year-over-year. The company's gross profit for the six months was $16,532, down from $146,535 in the previous year, indicating a sharp decrease in profitability.

The financial statements reveal that United Express's operating expenses surged to $39,097 for the six months ended December 31, 2024, compared to $2,149,962 in the same period of 2023. Notably, consultancy fees, which had previously accounted for a significant portion of expenses, were eliminated in the latest quarter, contrasting sharply with $2,114,000 incurred in the prior year. Despite this reduction, the company still reported a net loss of $22,565 for the six months, compared to a loss of $2,003,427 in the same period of 2023.

Strategically, United Express made a notable acquisition in September 2023, obtaining assets from Jebour Two Limited, including a promoter's license and media rights for combat sports events. This acquisition, which involved issuing 12,380,951 shares, is intended to position the company to explore opportunities in promoting live combat sports in Nevada. However, the company acknowledged that it currently lacks the capital resources to effectively plan and execute such events, which may take 6-9 months to yield potential earnings.

Operationally, the company reported a cash balance of $2,000 as of December 31, 2024, a significant decrease from $27,957 at the end of the previous year. The total assets stood at $13,711,307, slightly down from $13,724,909 in June 2024. The company has not diversified its customer base, which remains a concern, as it has a limited group of clients. The filing also indicated that the company has no off-balance-sheet arrangements and has not entered into any related party transactions during the reporting period.

Looking ahead, United Express expressed uncertainty regarding its ability to meet working capital and capital expenditure needs without generating substantial additional revenue or securing further financing. The company has no current commitments for additional capital and acknowledges the challenges it faces in obtaining necessary funding. The management's outlook remains cautious, emphasizing the need for strategic planning and potential revenue generation to ensure the company's viability moving forward.