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Ultimate Holdings Group Inc (UHGI). has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing that the company had no revenue for the six months ended January 31, 2025 and 2024. Operating expenses for the three months ended January 31, 2025 were $64,734, compared to $37,396 in the same quarter the previous year.
For the six months ended January 31, 2025, operating expenses were $147,983, compared to $92,645 in the previous year. These expenses were primarily professional fees.
The company reported a net loss of $64,734 for the three months ended January 31, 2025, compared to $37,396 in the previous year. For the six months ended January 31, 2025, the net loss was $147,983, compared to $92,645 in the previous year.
The balance sheet as of January 31, 2025, shows total assets of $8,806, with total liabilities of $392,512. The shareholders' deficit was $383,706.
The company has not established any source of revenue to cover its operating costs and plans to fund operating expenses with borrowings from related parties.
The company is classified as a 'blank check' company, as it has no specific business plan or purpose and is seeking a business combination.
The filing also details related-party transactions, including operating expenses paid by Harbin Co., Ltd., a company wholly owned by the CEO, Ryohei Uetaki.
The company identified material weaknesses in its internal control over financial reporting, with disclosure controls and procedures deemed ineffective as of January 31, 2025.
The company does not have any off-balance sheet arrangements that are expected to have a material impact on its financial condition or results of operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ultimate Holdings Group Inc quarterly 10-Q report dated March 14, 2025. To report an error, please email earnings@qz.com.