Quarterly ResultJul 14, 2026, 05:02 PM
UPAY Q1 Revenue $226K, Net Loss $(115K); Going Concern Warning
AI Summary
UPAY reported Q1 2026 revenue of $226,347, a 32.8% increase year-over-year, and reduced its net loss to $115,440 from $141,986 in the prior year. Despite these improvements, the company issued a going concern warning due to insufficient revenues to execute its business plan and negative working capital of $380,139. The company also has significant notes payable, including some in default, and relies heavily on related party financing.
Key Highlights
- Company issued a going concern warning due to insufficient revenues to execute its business plan.
- Q1 2026 revenue increased 32.8% to $226,347 from $170,414 year-over-year.
- Q1 2026 net loss decreased 18.7% to $(115,440) from $(141,986) year-over-year.
- Negative working capital stood at $380,139 as of May 31, 2026.
- Cash and cash equivalents were $91,692 at May 31, 2026.
- Total liabilities reached $807,428, with a stockholders' deficit of $(582,938).
- Current portion of related party notes payable in default totaled $55,000.
- Revenue is concentrated among four customers, with the top customer accounting for 20%.
Price Impact
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