$UNXP
United Express Inc.

2022 Q2 Form 10-K Financial Statement

#000160706222000515 Filed on August 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 2021 Q2
Revenue $169.8K $1.069M $354.8K
YoY Change -52.16% 6.82% 343.55%
Cost Of Revenue $177.8K $1.096M $296.5K
YoY Change -40.05% 21.99% 173.18%
Gross Profit -$8.030K -$27.42K $58.30K
YoY Change -113.77% -126.87% -304.2%
Gross Profit Margin -4.73% -2.56% 16.43%
Selling, General & Admin $13.19K $35.23K $44.29K
YoY Change -70.22% -52.51% 5.2%
% of Gross Profit 75.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.000K $4.000K $4.000K
YoY Change 0.0% 0.0% -50.0%
% of Gross Profit 6.86%
Operating Expenses $17.19K $35.23K $44.29K
YoY Change -61.19% -52.52% 25952.94%
Operating Profit -$25.22K -$62.64K $14.01K
YoY Change -280.01% -325.14% -148.78%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$25.22K -$62.64K $14.01K
YoY Change -280.01% -325.14% -148.78%
Income Tax $0.00 -$1.169K $0.00
% Of Pretax Income 0.0%
Net Earnings -$25.22K -$67.81K $14.01K
YoY Change -280.01% -343.72% -149.4%
Net Earnings / Revenue -14.86% -6.34% 3.95%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.617K -$4.349K $899.10
COMMON SHARES
Basic Shares Outstanding 15.59M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.740K $7.740K $34.55K
YoY Change -77.6% -77.6% 1165.57%
Cash & Equivalents $7.737K $34.55K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $7.737K $7.740K $34.55K
YoY Change -77.61% -77.6% 1165.57%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $16.00K
YoY Change -100.0% -100.0% -20.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $16.00K
YoY Change -100.0% -100.0% -20.0%
TOTAL ASSETS
Total Short-Term Assets $7.737K $7.740K $34.55K
Total Long-Term Assets $0.00 $0.00 $16.00K
Total Assets $7.737K $7.740K $50.55K
YoY Change -84.69% -84.69% 122.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.00 $0.00 $1.00
YoY Change 0.0%
Accrued Expenses $0.00 $0.00 $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.00 $0.00 $1.00
YoY Change 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.00 $0.00 $1.00
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $0.00 $0.00 $0.00
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$67.08K $738.00
YoY Change -9188.75%
Common Stock $15.59K $15.58K
YoY Change 0.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.736K $7.740K $50.55K
YoY Change
Total Liabilities & Shareholders Equity $7.737K $7.740K $50.55K
YoY Change -84.69% -84.69% 122.39%

Cashflow Statement

Concept 2022 Q2 2022 2021 Q2
OPERATING ACTIVITIES
Net Income -$25.22K -$67.81K $14.01K
YoY Change -280.01% -343.72% -149.4%
Depreciation, Depletion And Amortization $4.000K $4.000K $4.000K
YoY Change 0.0% 0.0% -50.0%
Cash From Operating Activities -$9.220K -$51.81K $18.01K
YoY Change -151.19% -262.81% -188.46%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $25.00K 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -9.220K -$51.81K 18.01K
Cash From Investing Activities 0.000 $0.00 0.000
Cash From Financing Activities 0.000 $25.00K 0.000
Net Change In Cash -9.220K -$26.81K 18.01K
YoY Change -151.19% -184.25% -188.46%
FREE CASH FLOW
Cash From Operating Activities -$9.220K -$51.81K $18.01K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_804_eus-gaap--NatureOfOperations_zYnziYDmMzJb" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 — <span id="xdx_826_zb1X83cICdj4">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">United Express, Inc. (the “Company”) was incorporated under the laws of the State of Nevada in June 23, 2017. The company was developed to provide comprehensive management service for long and short distance logistics for clients in the Company’s target market area. The Company will offer its clients the transportation ability to all of their hauling needs through one business which will provide them with the ability to manage their shipments in a cost and time effective manner.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As part of logistics industry, we provide dispatch service to improve the efficiency of the clients’ supply chain management and delivery operations. As oil prices are currently significantly increase, we can’t predict our expenses in logistics industry. These services are now heavily in demand among product distributors and retailers.</span></p> <p style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Also, in this year we sold commercial and home used appliances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have received $<span id="xdx_90A_eus-gaap--Revenues_c20210701__20220630_pp0p0" title="Operating Revenues">1,069,004</span> operating revenues for the 12 months period ended June 30,2022 and <span id="xdx_908_eus-gaap--Revenues_c20200701__20210630_pp0p0" title="Operating Revenues">1,000,775</span> for the 12 months period ended June 30,2021. Revenues were generated from customers’ payments. The Company is currently devoting of its present efforts to establishing the transportation, dispatch business and business to sell used equipment.</span></p>
CY2022 us-gaap Revenues
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CY2022 us-gaap Basis Of Accounting
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<p id="xdx_84B_eus-gaap--BasisOfAccounting_zn6s5SphBV64" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_862_zzJHzCyj8Nq5">Basis of Presentation</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company uses the accrual basis of accounting and accounting principles. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Financial Statements and related disclosures as of June 30,2022 (audited) and June 30, 2021 (audited) pursuant to the rules and regulations of the United States Securities and Exchange Commission (`SEC"). The Company has adopted June 30 fiscal year end.</span></p>
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_z5arHLeYfMi6" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_866_zrzG6DUa6axj">Use of Estimates and Assumptions</span></span></b> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that 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 period. Actual results could differ from those estimates.</span></p>
CY2022 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<p id="xdx_809_eus-gaap--PropertyPlantAndEquipmentImpairment_z4ubylNW9SNb" style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 3 — <span id="xdx_825_zTpSITaRCBQb">Property and Equipment</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and equipment consist of:</span></p> <table cellpadding="0" cellspacing="0" id="xdx_88C_eus-gaap--PropertyPlantAndEquipmentTextBlock_zMxOm5ISQZ9a" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and Equipment - Property and Equipment (Details)"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_8BB_zQjbo6PZaFgl" style="display: none">Property and Equipment</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"> </td> <td colspan="3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2022</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automobile</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_c20220630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Automobile"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated Depreciation</span></td><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; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20220630_ziXqUjmqFtaj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accumulated Depreciation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify"/> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June 30, 2021</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 70%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automobile</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_c20210630_pp0p0" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: right" title="Automobile"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated Depreciation</span></td><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; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_989_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20210630_zOrgDUdaKNu" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Accumulated Depreciation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(16,000</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center"/>
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
0 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
-0 usd
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32000 usd
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16000 usd
CY2022Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-67075 usd
CY2021Q2 us-gaap Cash
Cash
34550 usd
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
738 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15592000 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
15592000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2022Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
67813 usd
CY2021Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
1169 usd
CY2022Q2 us-gaap Cash
Cash
7737 usd

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