$HBUV
Hubilu Venture Corp

2024 Q4 Form 10-Q Financial Statement

#000149315224046885 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $616.4K
YoY Change 30.29%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.03K
YoY Change 10.82%
% of Gross Profit
Operating Expenses $233.3K
YoY Change 38.53%
Operating Profit $383.1K
YoY Change 25.73%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$316.5K
YoY Change 30.46%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $66.52K
YoY Change 7.22%
Net Earnings / Revenue 10.79%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 26.24M shares 26.24M shares
Diluted Shares Outstanding 35.87M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $58.44K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $2.773K
Other Receivables
Total Short-Term Assets $61.21K
YoY Change 249.65%
LONG-TERM ASSETS
Property, Plant & Equipment $20.58M
YoY Change 20.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $20.67M
YoY Change 20.52%
TOTAL ASSETS
Total Short-Term Assets $61.21K
Total Long-Term Assets $20.67M
Total Assets $20.74M
YoY Change 20.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.27K
YoY Change 11.64%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.229M
YoY Change 75.66%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.229M
Total Long-Term Liabilities
Total Liabilities $21.85M
YoY Change 21.61%
SHAREHOLDERS EQUITY
Retained Earnings -$2.117M
YoY Change 25.96%
Common Stock $1.004M
YoY Change 13.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.113M
YoY Change
Total Liabilities & Shareholders Equity $20.74M
YoY Change 20.75%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $66.52K
YoY Change 7.22%
Depreciation, Depletion And Amortization $64.03K
YoY Change 10.82%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Amendment Flag
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
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Hubilu Venture Corporation
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
EntityAddressAddressLine1
205 South Beverly Drive
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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308-7887
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17506 usd
us-gaap Interest Paid Net
InterestPaidNet
669224 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
2811900 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80E_eus-gaap--NatureOfOperations_zHIODVAFRqs4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 – <span id="xdx_828_zra5Y4MitBi1">Nature of Business and Significant Accounting Policies</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p id="xdx_841_ecustom--NatureOfBusinessPolicyTextBlock_zRtuPqGuSQl7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86F_zz80voJ59hDe">Nature of Business</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hubilu Venture Corporation (“the Company,” “we,” “our” or “us”) was incorporated under the laws of the state of <span id="xdx_904_edei--EntityIncorporationStateCountryCode_c20240101__20240930_zVpOZPSGpZCf" title="Entity state of incorporation">Delaware</span> on <span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_dd_c20240101__20240930_zule3Ev1ukub" title="Date of incorporation">March 2, 2015</span> and is a real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing and corporate income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zWza2Kxi8l32" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_863_z2ACsaS8Yol9">Basis of Presentation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC). Intercompany accounts and transactions have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with GAAP and do not contain certain information included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_842_eus-gaap--ConsolidationPolicyTextBlock_zxmeRntmc5Ck" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86D_zI3ARGZdjuTi">Principles of Consolidation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_ecustom--ScheduleOfCommonControlAndOwnershipInterestTableTextBlock_z5oRxGCw2dqc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at September 30, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B8_zfsAnJWn48ca" style="display: none">Schedule of Common Control and Ownership</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: center"> </td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center">State of</td><td style="width: 2%"> </td> <td style="width: 18%"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: center">Name of Entity</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Incorporation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Relationship</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--HubiluVentureCorporationMember_fKDEp_zAs2gtofa765" title="Name of Entity">Hubilu Venture Corporation</span><sup>(1)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_90D_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--HubiluVentureCorporationMember_fKDEp_zCyhAdYhHS2k" title="State of Incorporation">Delaware</span></td><td> </td> <td style="text-align: justify"><span id="xdx_90B_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--HubiluVentureCorporationMember_fKDEp_zpPtgMcb9xad" title="Relationship">Parent</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--AkebiaInvestmentsLLCMember_fKDIp_zUM5BGYMWUVd" title="Name of Entity">Akebia Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_90F_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--AkebiaInvestmentsLLCMember_fKDIp_zG7NL7HCCct2" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_907_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--AkebiaInvestmentsLLCMember_fKDIp_zsjKsSWvD8P4" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--BoababInvestmentsLLCMember_fKDIp_zQFv5mZWOZIh" title="Name of Entity">Boabab Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_905_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--BoababInvestmentsLLCMember_fKDIp_zTV3x7AYKj7k" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_903_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--BoababInvestmentsLLCMember_fKDIp_zw3vfmUCREOg" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--ElataInvestmentsLLCMember_fKDIp_zN5tX3lsMUAf" title="Name of Entity">Elata Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_908_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--ElataInvestmentsLLCMember_fKDIp_z1Y5Xrw3Tlbb" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_90F_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--ElataInvestmentsLLCMember_fKDIp_zDZiyAenngZc" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--KapokInvestmentsLLCMember_fKDIp_z4hPrw5NFO4l" title="Name of Entity">Kapok Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_90D_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--KapokInvestmentsLLCMember_fKDIp_zXmaMkg7IXJ9" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_903_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--KapokInvestmentsLLCMember_fKDIp_zzDyUO6qYh3b" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--LantanaInvestmentsLLCMember_fKDIp_z3UA8ol4wE19" title="Name of Entity">Lantana Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_900_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--LantanaInvestmentsLLCMember_fKDIp_zL5ODYHTHUIh" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_90A_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--LantanaInvestmentsLLCMember_fKDIp_zbyCOPmSJ4Nk" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--MopaneInvestmentsLLCMember_fKDIp_zO4JAifcbbM8" title="Name of Entity">Mopane Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_902_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--MopaneInvestmentsLLCMember_fKDIp_z8I9UznJ2ifj" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_905_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--MopaneInvestmentsLLCMember_fKDIp_zNDeZpDodrXe" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--SunzaInvestmentsLLCMember_fKDIp_zTqmv83nAmhf" title="Name of Entity">Sunza Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_905_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--SunzaInvestmentsLLCMember_fKDIp_zKc3rt5z0sA2" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_904_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--SunzaInvestmentsLLCMember_fKDIp_zMDQt23nggpk" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--TrilosaInvestmentsLLCMember_fKDIp_zel6CfEUyPPb" title="Name of Entity">Trilosa Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_904_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--TrilosaInvestmentsLLCMember_fKDIp_zRVUEbkHdcN5" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_90F_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--TrilosaInvestmentsLLCMember_fKDIp_zxrZbuvWRSP" title="Relationship">Subsidiary</span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_edei--EntityRegistrantName_c20240101__20240930__dei--LegalEntityAxis__custom--ZinniaInvestmentsLLCMember_fKDIp_z0tw3UGmOO68" title="Name of Entity">Zinnia Investments, LLC</span><sup>(2)</sup></span></td><td> </td> <td style="text-align: justify"><span id="xdx_90C_edei--EntityIncorporationStateCountryCode_c20240101__20240930__dei--LegalEntityAxis__custom--ZinniaInvestmentsLLCMember_fKDIp_zB4DtmBukdj3" title="State of Incorporation">Wyoming</span></td><td> </td> <td style="text-align: justify"><span id="xdx_904_ecustom--Relationship_c20240101__20240930__dei--LegalEntityAxis__custom--ZinniaInvestmentsLLCMember_fKDIp_zJ6DWmd7nv5c" title="Relationship">Subsidiary</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F0F_zhgol5aa9Gg">(1)</sup></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1F_zpAC3GJtBqgc" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holding company in the form of a corporation. </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><sup id="xdx_F01_zqABkMV6ZLGa">(2)</sup></span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F11_zlhcpz8M8HL1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wholly-owned subsidiary in the form of a limited liability corporation. </span></td></tr> </table> <p id="xdx_8A1_zVdNH0ehnajh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z06w8I52tT8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_z8XOlqugijsk">Reclassifications</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HUBILU VENTURE CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Condensed Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_840_eus-gaap--UseOfEstimates_zs87BCitwOU5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_860_zpKZb8fKG608">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84C_eus-gaap--SegmentReportingPolicyPolicyTextBlock_z03DMzwKF0W7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_864_zSsvnuId00y9">Segment Reporting</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zrzFRXDRL9D6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_869_zZAt6NYTeXga">Fair Value of Financial Instruments</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company discloses the fair value of certain assets and liabilities in accordance with ASC 820 – Fair Value Measurement and Disclosures (ASC 820). Under ASC 820-10-05, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company’s financial statements as reflected herein. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses reported on the balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zMEoNatfzi79" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_zXr5PXcnbLSg">Revenue Recognition</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognizes revenue in accordance with ASC 606, <i>Revenue from Contracts with Customer</i>. Under ASC 606, the Company recognizes revenue from leases with its various tenants under operating leases in accordance with a five-step model in which the Company evaluates the performance obligations in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s sales are predominantly generated from leasing its properties to various tenants under operating leases. These sales contain a single performance obligation, and revenue is recognized on a straight-line basis using the effective interest method, based on the Company’s borrowing rate, over the life of the leases. The Company records adjustments to revenue for incidentals and move out, or janitorial reimbursements in the same period that the related revenue is recorded.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--EarningsPerSharePolicyTextBlock_zOgTA38gxClg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_860_zrC3u22AaZLg">Earnings Per Share</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zK13egYBs4A8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table shows the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2024 and 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="display: none"><span id="xdx_8BF_zuj3E8YWQZf4">Schedule of Earnings Per Share</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240701__20240930_zOQ16zR8CREe" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230701__20230930_zaxoIymiXV01" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20240101__20240930_zuhn4hiLcqvh" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="text-align: center; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230101__20230930_zPdjZruqWXpi" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="6" style="text-align: center">For the Three Months Ended</td><td> </td><td> </td> <td colspan="6" style="text-align: center">For the Nine Months Ended</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">September 30,</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">September 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2023</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z3B4MrohWPYi" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 36%; text-align: left">Net income</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">66,522</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">62,040</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">3,785</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">59,952</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_zdqruaifpkXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Weighted-average basic shares outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,237,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,237,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,237,125</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,237,125</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_zPHh4108YMp2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Effect of dilutive securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,637,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,637,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,637,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,637,037</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_zhLVPsnMZ0S3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Weighted-average diluted shares</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">35,874,162</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">35,874,162</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">35,874,162</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">35,874,162</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareBasic_zQZe4YM3Sqol" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic earnings per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--EarningsPerShareDiluted_zIQzENRbxiwa" style="vertical-align: bottom; background-color: White"> <td>Diluted earnings per share</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">0.00</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A8_zFrsUnEjYXa7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zIzeGEwqdPFc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_867_z8BQpB5An094">Recent Accounting Pronouncements</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.</span></p> <p id="xdx_855_z97peC6sNime" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HUBILU VENTURE CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Condensed Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-03-02
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_849_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z06w8I52tT8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86A_z8XOlqugijsk">Reclassifications</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HUBILU VENTURE CORPORATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes to Condensed Consolidated Financial Statements</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zs87BCitwOU5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_860_zpKZb8fKG608">Use of Estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
66522 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
62040 usd
us-gaap Net Income Loss
NetIncomeLoss
3785 usd
us-gaap Net Income Loss
NetIncomeLoss
59952 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26237125 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26237125 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26237125 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26237125 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9637037 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9637037 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9637037 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
9637037 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35874162 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35874162 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35874162 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35874162 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2024Q3 us-gaap Cash
Cash
58437 usd
CY2024Q3 HBUV Working Capital
WorkingCapital
-3167357 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2117118 usd
CY2024Q3 us-gaap Land
Land
14083679 usd
CY2023Q4 us-gaap Land
Land
11800304 usd
CY2024Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
7020885 usd
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5458695 usd
CY2024Q3 HBUV Property Acquisition And Financing
PropertyAcquisitionAndFinancing
401171 usd
CY2023Q4 HBUV Property Acquisition And Financing
PropertyAcquisitionAndFinancing
296463 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21505735 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17555462 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
921507 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
762406 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20584228 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16793056 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
159101 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
170779 usd
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
17555462 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
17555462 usd
us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
3439000 usd
us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
20994462 usd
CY2023 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
17555462 usd
us-gaap Real Estate Improvements
RealEstateImprovements
511273 usd
CY2024Q3 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
21505735 usd
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
17555462 usd
CY2024Q3 HBUV Down Payment On Purchase Of Properties
DownPaymentOnPurchaseOfProperties
18870 usd
CY2024Q3 HBUV Security Deposits On Office Lease
SecurityDepositsOnOfficeLease
6600 usd
CY2023Q4 HBUV Security Deposits On Office Lease
SecurityDepositsOnOfficeLease
6600 usd
CY2024Q3 us-gaap Deposits Assets
DepositsAssets
25470 usd
CY2023Q4 us-gaap Deposits Assets
DepositsAssets
6600 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26237125 shares
CY2024Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1442000 usd

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