$UPYY
UPAY

2023 Q3 Form 10-Q Financial Statement

#000157587223001188 Filed on July 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $364.0K $332.6K $375.6K
YoY Change 13.42% -11.46% 12.07%
Cost Of Revenue $158.3K $159.1K $140.2K
YoY Change 20.89% 13.52% 26.92%
Gross Profit $205.7K $173.4K $235.5K
YoY Change 8.26% -26.34% 4.77%
Gross Profit Margin 56.51% 52.15% 62.68%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.471K $9.719K $11.28K
YoY Change -69.0% -13.82% 0.3%
% of Gross Profit 1.69% 5.6% 4.79%
Operating Expenses $373.8K $199.5K $226.6K
YoY Change 45.22% -11.96% -58.27%
Operating Profit -$168.1K -$26.07K $8.858K
YoY Change 149.41% -394.25% -102.78%
Interest Expense $8.384K $8.320K $8.036K
YoY Change 0.16% 3.53% 96.05%
% of Operating Profit 90.72%
Other Income/Expense, Net
YoY Change
Pretax Income -$174.6K -$32.22K $1.057K
YoY Change 131.83% -3148.25% -100.32%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$174.6K -$32.22K $1.057K
YoY Change 131.83% -3148.25% -100.32%
Net Earnings / Revenue -47.97% -9.69% 0.28%
Basic Earnings Per Share -$0.01 $0.00 $0.00
Diluted Earnings Per Share -$0.01 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 17.54M 17.19M 17.16M
Diluted Shares Outstanding 17.36M 17.19M 17.16M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $658.0K $482.1K $438.6K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $68.56K $52.95K $78.22K
Other Receivables
Total Short-Term Assets $731.4K $536.5K $520.0K
YoY Change 70.83% 3.18%
LONG-TERM ASSETS
Property, Plant & Equipment $26.79K $28.65K $46.19K
YoY Change -23.14% -37.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $65.38K $69.32K $157.2K
YoY Change -49.89% -55.9%
TOTAL ASSETS
Total Short-Term Assets $731.4K $536.5K $520.0K
Total Long-Term Assets $65.38K $69.32K $157.2K
Total Assets $796.8K $605.8K $677.2K
YoY Change 42.64% -10.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $514.2K
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $987.9K $909.5K $788.5K
YoY Change 29.18% 15.35%
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 $987.9K $909.5K $788.5K
Total Long-Term Liabilities
Total Liabilities $1.073M $998.6K $942.0K
YoY Change 17.92% 6.02%
SHAREHOLDERS EQUITY
Retained Earnings -$1.094M -$919.2K -$750.5K
YoY Change 32.46% 22.49%
Common Stock $17.54K $17.19K $17.16K
YoY Change 2.25% 0.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$276.0K -$392.8K -$264.8K
YoY Change
Total Liabilities & Shareholders Equity $796.8K $605.8K $677.2K
YoY Change 42.64% -10.53%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$174.6K -$32.22K $1.057K
YoY Change 131.83% -3148.25% -100.32%
Depreciation, Depletion And Amortization $3.471K $9.719K $11.28K
YoY Change -69.0% -13.82% 0.3%
Cash From Operating Activities -$134.0K -$745.2K
YoY Change -82.01% 1016.17%
INVESTING ACTIVITIES
Capital Expenditures $23.17K $831.00
YoY Change 2688.33% 20.43%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$23.17K $52.00
YoY Change -44659.62% -107.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.98K $21.84K
YoY Change -40.56% -49.81%
NET CHANGE
Cash From Operating Activities -134.0K -$745.2K
Cash From Investing Activities -23.17K $52.00
Cash From Financing Activities 12.98K $21.84K
Net Change In Cash -180.9K -$717.4K
YoY Change -74.79% -728.87%
FREE CASH FLOW
Cash From Operating Activities -$134.0K -$745.2K
Capital Expenditures $23.17K $831.00
Free Cash Flow -$157.2K -$746.1K
YoY Change -78.93% 1005.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q2 dei Amendment Flag
AmendmentFlag
false
CY2023Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2023Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001677897
CY2023Q2 dei Document Type
DocumentType
10-Q
CY2023Q2 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q2 dei Document Period End Date
DocumentPeriodEndDate
2023-05-31
CY2023Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q2 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q2 dei Entity File Number
EntityFileNumber
333-212447
CY2023Q2 dei Entity Registrant Name
EntityRegistrantName
UPAY, Inc.
CY2023Q2 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023Q2 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
37-1793622
CY2023Q2 dei Entity Address Address Line1
EntityAddressAddressLine1
3010 LBJ Freeway
CY2023Q2 dei Entity Address Address Line2
EntityAddressAddressLine2
12th Floor
CY2023Q2 dei Entity Address City Or Town
EntityAddressCityOrTown
Dallas
CY2023Q2 dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
CY2023Q2 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
75234
CY2023Q2 dei City Area Code
CityAreaCode
(972)
CY2023Q2 dei Local Phone Number
LocalPhoneNumber
888-6052
CY2023Q2 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q2 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q2 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q2 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q2 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q2 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023Q2 dei Entity Shell Company
EntityShellCompany
false
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17543544
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
482109
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
662991
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
52950
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
68447
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1461
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1564
CY2023Q2 us-gaap Assets Current
AssetsCurrent
536520
CY2023Q1 us-gaap Assets Current
AssetsCurrent
733002
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28653
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17061
CY2023Q2 upyy Right Of Use Assets
RightOfUseAssets
30549
CY2023Q1 upyy Right Of Use Assets
RightOfUseAssets
39905
CY2023Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
10114
CY2023Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
43289
CY2023Q2 us-gaap Assets
Assets
605836
CY2023Q1 us-gaap Assets
Assets
833257
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
544426
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
760613
CY2023Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
4454
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
4766
CY2023Q2 upyy Lease Liability Net Current
LeaseLiabilityNetCurrent
17598
CY2023Q1 upyy Lease Liability Net Current
LeaseLiabilityNetCurrent
22133
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
52143
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
52143
CY2023Q2 upyy Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
255000
CY2023Q1 upyy Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
251000
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
909527
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1120235
CY2023Q2 upyy Lease Liability Net Noncurrent
LeaseLiabilityNetNoncurrent
12951
CY2023Q1 upyy Lease Liability Net Noncurrent
LeaseLiabilityNetNoncurrent
18892
CY2023Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
76157
CY2023Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
76157
CY2023Q2 us-gaap Liabilities
Liabilities
998635
CY2023Q1 us-gaap Liabilities
Liabilities
1215284
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17190211
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17190211
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
17190211
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17190211
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
17190
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
17190
CY2023Q2 upyy Common Stock Issuable
CommonStockIssuable
43334
CY2023Q1 upyy Common Stock Issuable
CommonStockIssuable
13334
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
535275
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
535275
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-919218
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-886998
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-69380
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-60828
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-392799
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-382027
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
605836
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
833257
CY2023Q2 us-gaap Revenues
Revenues
332576
CY2022Q2 us-gaap Revenues
Revenues
375643
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
159136
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
140180
CY2023Q2 us-gaap Gross Profit
GrossProfit
173440
CY2022Q2 us-gaap Gross Profit
GrossProfit
235463
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
888
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2585
CY2023Q2 us-gaap Depreciation
Depreciation
9719
CY2022Q2 us-gaap Depreciation
Depreciation
11277
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
188898
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
212743
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
199505
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
226605
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-26065
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8858
CY2023Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1113
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
217
CY2023Q2 us-gaap Interest Expense
InterestExpense
8320
CY2022Q2 us-gaap Interest Expense
InterestExpense
8036
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1052
CY2022Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
18
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32220
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1057
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-32220
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
1057
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-8552
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-521
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-40772
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
536
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17190211
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17190211
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17159052
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17159052
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-255452
CY2022Q2 upyy Cash Paid For Purchase Of Shares Of Miway Finance
CashPaidForPurchaseOfSharesOfMiwayFinance
-21545
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-100
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
11747
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
1057
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-521
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-264814
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-382027
CY2023Q2 upyy Common Stock Issuable For Services
CommonStockIssuableForServices
20000
CY2023Q2 upyy Common Stock Subscribed During The Period Value
CommonStockSubscribedDuringThePeriodValue
10000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-32220
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-8552
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-392799
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-32220
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
1057
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
888
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2585
CY2023Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
20000
CY2022Q2 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
0
CY2023Q2 us-gaap Depreciation
Depreciation
9719
CY2022Q2 us-gaap Depreciation
Depreciation
11277
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
18
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1052
CY2022Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
67
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
450
CY2023Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-13237
CY2022Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-14081
CY2023Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
0
CY2022Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-234
CY2023Q2 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-32402
CY2022Q2 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
0
CY2023Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-183411
CY2022Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-775897
CY2023Q2 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
6326
CY2022Q2 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
1008
CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-134044
CY2022Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-745223
CY2023Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23171
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
831
CY2023Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
CY2022Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
883
CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23171
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
52
CY2023Q2 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
10000
CY2022Q2 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
0
CY2023Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
4000
CY2022Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0
CY2023Q2 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
CY2022Q2 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
25000
CY2023Q2 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-1021
CY2022Q2 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-3164
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12979
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21836
CY2023Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-36646
CY2022Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5940
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-180882
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-717395
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
662991
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1156005
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
482109
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
438610
CY2023Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
8320
CY2022Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
8036
CY2023Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2022Q2 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
0
CY2022Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-100
CY2023Q2 upyy Settlement Of Related Party Note Payable
SettlementOfRelatedPartyNotePayable
0
CY2022Q2 upyy Settlement Of Related Party Note Payable
SettlementOfRelatedPartyNotePayable
11747
CY2023Q2 us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="width:100%; font-family:'Times New Roman'; font-size:9pt; border-spacing:0px; border-collapse:collapse;text-indent: 0px;"><tr style="vertical-align:top"><td style="width: 0in; overflow-wrap: break-word; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; padding: 0pt;"><div style="display:inline;"></div></td><td style="width: 0.25in; vertical-align: top; overflow-wrap: break-word; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding: 0pt; line-height: 12pt;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">1.</div></div></td><td style="text-align: justify; vertical-align: top; overflow-wrap: break-word; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding: 0pt; line-height: 12pt;"><div style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-right: 0px; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">N<a href="#a001_005_natureofoperati" id="a001_005_natureofoperati"></a>ature of Operations and Continuance of Business</div></div></td></tr></table><div style="clear:both;max-height:0pt;;text-indent: 0px;"></div><div style="margin: 0px 0px 0px 0.25in; text-align: justify; text-indent: -0.25in; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; white-space: pre-wrap; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;;white-space:pre-wrap;"> </div></div><div style="margin: 0px 0px 0px 0.25in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; text-indent: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">UPAY, Inc. (the “Company”) was incorporated in the State of Nevada on July 8, 2015. By a Share Exchange Agreement dated November 4, 2015, the Company agreed to acquire all of the issued and outstanding shares of Rent Pay (Pty) Ltd (“Rent Pay”), in exchange for 200,000 shares of the Company’s common stock.  The acquisition is a capital transaction in substance and therefore has been accounted for as a recapitalization. Rent Pay was incorporated in South Africa on February 1, 2012. Because Rent Pay is deemed to be the acquirer for accounting purposes, the consolidated financial statements are presented as a continuation of Rent Pay and include the results of operations of Rent Pay since incorporation on February 1, 2012, and the results of operations of the Company since the date of acquisition on November 4, 2015. On March 2, 2022, the Company acquired a controlling interest in Miway Finance Inc. (“Miway”), which was determined to be a transaction between entities under common control .</div></div><div style="margin: 0px 0px 0px 0.25in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; text-indent: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; white-space: pre-wrap; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;;white-space:pre-wrap;"> </div></div><div style="margin: 0px 0px 0px 0.25in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; text-indent: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">Rent Pay operates principally in South Africa and engages in software development and licensing and provides services to the credit provider industry.</div></div>
CY2023Q2 us-gaap Use Of Estimates
UseOfEstimates
<table style="border-spacing: 0px; border-collapse: collapse; margin-bottom: 0px; margin-top: 0px; width: 100%; table-layout: fixed;"><tr style="vertical-align: top;"><td style="padding: 0pt; width: 0.25in; font-family: &quot;Times New Roman&quot;, Times, serif;"><div style="display:inline;"></div></td><td style="white-space: nowrap; width: 0.25in; padding: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"><div style="margin-right: 0px; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">c)</div></div></td><td style="padding: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; line-height: 12pt;"><div style="margin-right: 0px; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; margin-bottom: 0px; margin-top: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">Use of Estimates</div></div></td></tr></table><div style="margin: 0px 0px 0px 0.25in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; text-indent: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; white-space: pre-wrap; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;;white-space:pre-wrap;"> </div></div><div style="margin: 0px 0px 0px 0.5in; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background: none; text-indent: 0px; line-height: 12pt;"><div style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; line-height: 12pt;;display:inline;">The preparation of consolidated financial statements in conformity with U.S. 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to useful life and recoverability of long-lived assets, and deferred income tax asset valuations. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</div></div>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
764
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2022
CY2023Q2 upyy Finance And Operating Lease Interest Rate
FinanceAndOperatingLeaseInterestRate
0.1125
CY2022Q4 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-2842
CY2022Q4 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-47351
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
255378
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
226725
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28653
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17061
CY2023Q2 us-gaap Depreciation
Depreciation
9719
CY2022Q2 us-gaap Depreciation
Depreciation
11277
CY2023Q2 us-gaap Lease Cost
LeaseCost
57882
CY2023Q2 upyy Accumulated Amortization Right Of Use Assets
AccumulatedAmortizationRightOfUseAssets
27333
CY2023Q2 upyy Right Of Use Asset
RightOfUseAsset
30549
CY2023Q1 upyy Right Of Use Asset
RightOfUseAsset
39905
CY2023Q2 upyy Rent Expense
RentExpense
5022
CY2022Q2 upyy Rent Expense
RentExpense
4622
CY2023Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
888
CY2022Q2 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
2585
CY2023Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1912
CY2023Q2 upyy Finance Lease Liabilities
FinanceLeaseLiabilities
2964
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1052
CY2021Q3 us-gaap Notes Payable
NotesPayable
10000
CY2021Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.10
CY2022Q4 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
273
CY2022Q4 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
4549
CY2023Q2 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-2549
CY2023Q2 upyy Repayment Of Lease Liabilities
RepaymentOfLeaseLiabilities
-47204
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
1052
CY2023Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
19480
CY2021Q1 upyy Operating Lease Monthly Rent Payable
OperatingLeaseMonthlyRentPayable
22000
CY2023Q2 upyy Net Minimum Lease Liability Payments Due Next Twelve Months
NetMinimumLeaseLiabilityPaymentsDueNextTwelveMonths
19187
CY2023Q2 upyy Net Minimum Lease Liability Payments Due Year Two
NetMinimumLeaseLiabilityPaymentsDueYearTwo
13293
CY2023Q2 upyy Net Minimum Lease Liability Payments Due
NetMinimumLeaseLiabilityPaymentsDue
32480
CY2023Q2 upyy Minimum Lease Liability Undiscounted Excess Amount
MinimumLeaseLiabilityUndiscountedExcessAmount
-1931
CY2023Q2 upyy Lease Liability Net
LeaseLiabilityNet
30549
CY2023Q2 upyy Lease Liability Net Current
LeaseLiabilityNetCurrent
17598
CY2023Q2 upyy Lease Liability Net Noncurrent
LeaseLiabilityNetNoncurrent
12951
CY2021Q4 us-gaap Payments For Deposits
PaymentsForDeposits
800000
CY2023Q2 us-gaap Proceeds From Refunds From Suppliers Of Material
ProceedsFromRefundsFromSuppliersOfMaterial
600000
CY2023Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
10114
CY2023Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
200000
CY2023Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
43289
CY2023Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
800000

Files In Submission

Name View Source Status
0001575872-23-001188-index-headers.html Edgar Link pending
0001575872-23-001188-index.html Edgar Link pending
0001575872-23-001188.txt Edgar Link pending
0001575872-23-001188-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
up003_ex31-1.htm Edgar Link pending
up003_ex31-2.htm Edgar Link pending
up003_ex32-1.htm Edgar Link pending
up003_ex32-2.htm Edgar Link pending
upyy-20230531.htm Edgar Link pending
upyy-20230531.xsd Edgar Link pending
upyy-20230531_def.xml Edgar Link unprocessable
upyy-20230531_lab.xml Edgar Link unprocessable
upyy-20230531_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable
upyy-20230531_cal.xml Edgar Link unprocessable
upyy-20230531_pre.xml Edgar Link unprocessable