Cover
Cover | 3 Months Ended |
Sep. 30, 2022 shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Transition Report | false |
Document Period End Date | Sep. 30, 2022 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2022 |
Current Fiscal Year End Date | --06-30 |
Entity File Number | 333-227194 |
Entity Registrant Name | United Express Inc. |
Entity Central Index Key | 0001751707 |
Entity Tax Identification Number | 82-1965608 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 4345 w. Post Rd |
Entity Address, City or Town | Las Vegas |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89118 |
City Area Code | 949 |
Local Phone Number | 350-0123 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 15,592,000 |
BALANCE SHEET (Unaudited)
BALANCE SHEET (Unaudited) - USD ($) | Sep. 30, 2022 | Jun. 30, 2022 |
CURRENT ASSETS: | ||
Cash | $ 4,370 | $ 7,737 |
TOTAL CURRENT ASSETS | 4,370 | 7,737 |
FIXED ASSETS | ||
Automobile and Capital auto repair | 0 | 0 |
Accumulated Depreciation | 0 | 0 |
TOTAL FIXED ASSETS | 0 | 0 |
TOTAL ASSETS | 4,370 | 7,737 |
CURRENT LIABILITIES | ||
Accrued Accounts Payable | 1 | 1 |
Accrued Taxes | 0 | 0 |
TOTAL CURRENT LIABILITIES | 1 | 1 |
STOCKHOLDERS' EQUITY | ||
Common stock, $0.001 par value; 75,000,000 shares authorized 15,592,000 shares issued and outstanding at September 30, 2022 and 15,592,000 at June 30, 2022 respectively | 15,592 | 15,592 |
Additional paid in capital | 59,219 | 59,219 |
Net Profit (loss) accumulated during development stage | (70,442) | (67,075) |
TOTAL STOCKHOLDERS' EQUITY | 4,369 | 7,736 |
Total Liabilities and Stockholders' Equity | $ 4,370 | $ 7,737 |
BALANCE SHEET (Unaudited) (Pare
BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2022 | Jun. 30, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 15,592,000 | 15,592,000 |
Common stock, shares outstanding | 15,592,000 | 15,592,000 |
STATEMENTS OF OPERATIONS (Unaud
STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
REVENUES | ||
Sales | $ 65,195 | $ 342,858 |
TOTAL REVENUES | 65,195 | 342,858 |
COST OF SALES | ||
Logistic, Dispatcher Service, Call Center, Freight brokerage | 58,925 | 188,450 |
Used Appliances | 0 | 169,850 |
TOTAL COST OF GOODS SOLD | 58,925 | 358,300 |
GROSS PROFIT (LOSS) | 6,270 | (15,442) |
Operating expenses: | ||
Transportation expenses | 0 | 6 |
General and administration expenses | 9,637 | 9,977 |
TOTAL OPERATING EXPENSES | 9,637 | 9,983 |
INCOME (LOSS) BEFORE INCOME TAXES | (3,367) | (25,425) |
INCOME TAXES | 0 | 0 |
NET INCOME (LOSS) | $ (3,367) | $ (25,425) |
NET INCOME (LOSS) PER BASIC AND DILUTED SHARE | $ 0 | $ 0 |
WEIGHTED AVERAGE OF COMMON SHARES OUTSTANDING | 15,592,000 | 15,582,000 |
STATEMENTS OF STOCKHOLDERS' EQU
STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Jun. 30, 2021 | $ 15,582 | $ 34,229 | $ 738 | $ 50,549 |
Balance beginning, shares at Jun. 30, 2021 | 15,582,000 | |||
Net profit (loss) | (25,425) | (25,425) | ||
Ending balance, value at Sep. 30, 2021 | $ 15,582 | 34,229 | (24,687) | 25,124 |
Balance ending, shares at Sep. 30, 2021 | 15,582,000 | |||
Beginning balance, value at Jun. 30, 2022 | $ 15,592 | 59,219 | (67,075) | 7,736 |
Balance beginning, shares at Jun. 30, 2022 | 15,592,000 | |||
Net profit (loss) | (3,367) | (3,367) | ||
Ending balance, value at Sep. 30, 2022 | $ 15,592 | $ 59,219 | $ (70,442) | $ 4,369 |
Balance ending, shares at Sep. 30, 2022 | 15,592,000 |
STATEMENTS OF CASH FLOWS (Unaud
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (3,367) | $ (25,425) |
Accrued Taxes | 0 | 0 |
Accrued Expenses | 0 | 0 |
Depreciation | 0 | 0 |
Net cash (used in) provided by operating activities | (3,367) | (25,425) |
Cash flows from investing activities: | ||
Net cash used in investing activities | 0 | 0 |
Cash flows from financing activities: | ||
Net cash provided by financing activities | 0 | 0 |
NET INCREASE (DECREASE) IN CASH | (3,367) | (25,425) |
CASH AND CASH EQ - BEGINNING OF PERIOD | 7,737 | 34,550 |
CASH AND CASH EQ - ENDING OF PERIOD | $ 4,370 | $ 9,125 |
Description of Business
Description of Business | 3 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | NOTE 1 — Description of Business We are an Emerging Growth Company with revenue generating operations. We were formed on June 23, 2017 and have five years of business experience. The United Express operates as a general company of transportation, dispatch service, logistics - to delivery merchandises and other items for companies and individuals across the United State. As such, it is difficult to determine the average customer of the Company as the business will have the freedom and the ability to effectively arrange for the transportation any type of merchandise. Management anticipates that the business will receive orders for service from companies seeking to move merchandise, as well as, people relocating to different areas of the target regional market areas. A primary concern for the Company is its ability to quickly respond to customer request, give affordable price for the services, and carry the full responsibility from pick up to drop off. Fluctuations in oil prices has caused the freight and logistic industries costs to be to increase during last 3 months. In the event of a significant increase the price of fuel, we will also reasonably increase prices (at a standardized rate of markup) to ensure the profitability of the business. We continue work with ARI Logistics, an Alabama limited liability company and serve for them as freight agency. Our other activities are providing dispatch services for the other companies. We working with CVK Express and doing dispatch service for them. In this field company doing search for transportation providers and connect them to cargo owners based upon delivery requirements, transportation routes, type of shipment, equipment requirements, cargo size, delivery time and price. During reported period our business activities have focused on the development of our business plan, locating producers of goods, despatchers, researching for new customers, van supplies, development of optimal traffic routes. We have received $ 65,195 342,858 |
Significant Accounting Policies
Significant Accounting Policies and Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies and Recent Accounting Pronouncements | NOTE 2 — Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation 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 September 30,2022 (Unaudited) and September 30,2021 (Unaudited) pursuant to the rules and regulations of the United States Securities and Exchange Commission (`SEC"). The Company has adopted June 30 fiscal year end. Use of Estimates and Assumptions 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. Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Fair Value of Financial Instruments ASC 825, 'Disclosures about Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements" defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2022. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Basic and Diluted Loss Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 'Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. Revenue Recognition We base our judgment on guidance ASC 606. The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. We considered gross revenue as a principal. Our revenue includes payments from the costumers for the logistic business. We Estimating Gross Revenue as a Principal. We evaluate the nature of our promises under the contracts and use judgment to determine whether the contracts include services, which we would need to evaluate for a material right or a performance obligation with quantity of services to be delivered. ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) amends revenue recognition guidance within ASC 606 for these types of transactions. To determine the nature of its promise to the customer, the entity should: 1. Identify the specified goods or services to be provided to the customer, and 2. Assess whether it controls each specified good or service before that good or service is transferred to the customer. We are primarily responsible for fulfilling the promise to provide the specified service. We have the inventory risk before the specified service has been transferred to a customer, or after transfer of control to the customer (for example, if the customer has a right for cancel or return). Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow. |
Property and Equipment
Property and Equipment | 3 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Property and Equipment | NOTE 3 — Property and Equipment Property and equipment consist of: Property and Equipment September 30, 2022 Automobile $ 0 Accumulated Depreciation $ 0 September 30, 2021 Automobile $ 32,000 Accumulated Depreciation $ (16,000 ) |
Concentration of Credit Risk
Concentration of Credit Risk | 3 Months Ended |
Sep. 30, 2022 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | NOTE 4 — Concentration of Credit Risk The Company maintains cash balances at a Bank of America financial institution. The balance, at any given time, may exceed Federal Deposit Insurance Corporation FDIC insurance limits of $ 250,000 |
Concentrations
Concentrations | 3 Months Ended |
Sep. 30, 2022 | |
Concentrations | |
Concentrations | NOTE 5 — Concentrations We have a small group of customers from whom we received the income and in the present time we can’t diversify in order to mitigate the risks. |
Debt
Debt | 3 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Debt | NOTE 6 — Debt Andrei Stoukan, the officer of the Company, has from time to time loaned the Company funds for the operational costs. In a present time, we have not any debt before him. |
Capital Stock
Capital Stock | 3 Months Ended |
Sep. 30, 2022 | |
Equity [Abstract] | |
Capital Stock | NOTE 7 — Capital Stock On September 30, 2022 the Company authorized 75,000,000 0.001 For the three months period ended September 30, 2022 we have no For the three months period ended September 30, 2021, we also have no For the 3 months period ended September 30,2022 we have no changes in our common stock. January 28, 2021 Andrei Stoukan sold his 14,001,000 14,001 As of September 30,2022, there were 15,592,000 14,001,000 1,581,000 As of September 30, 2022, and September 30, 2021, there were no |
Income Taxes
Income Taxes | 3 Months Ended |
Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 8 — Income Taxes We use the asset and liability method of accounting for income taxes in accordance with ASC Topic 740, 'Income Taxes.’ Under this method, income tax expense is recognized for the amount of (i) taxes payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative evidence, it is more likely than not some portion or all of the deferred tax assets will not be realized. ASC Subtopic 740.10. 30 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC Subtopic 740.10 provides guidance on recognition and measuring tax positions taken or expected to be taken in a tax return that directly or indirectly affect amounts reported in financial statements. We have no TAX liability for this period. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Sep. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | NOTE 9 — Related Party Transactions We have no Also, we have no |
Going Concern
Going Concern | 3 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | NOTE 10 — Going Concern The accompanying financial statements and notes have been prepared assuming that the Company will continue as a going concern. For the three months period ended September 30, 2022, the Company had a cash balance of $ 4,370 3,367 For the three months period ended September 30, 2021, the Company had a cash balance of $ 9,125 25,425 We still have a negative development dynamic; and, it still raises substantial doubt about the Company's ability to continue as a going concern. Management believes that the Company's capital requirements will depend on many factors including the success of our development efforts and our efforts to raise capital. Management also believes the Company needs to raise additional capital for working purposes. There is no assurance that such financing will be available in the future. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Subsequent Events and climate-r
Subsequent Events and climate-related events impacts to financial statement | 3 Months Ended |
Sep. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events and climate-related events impacts to financial statement | NOTE 11 — Subsequent Events and climate-related events impacts to financial statement The rule would require company to disclose, in a footnote to the financial statements, the financial statement impacts of (i) climate-related events, including severe weather events and other natural conditions such as flooding, drought, wildfires, extreme temperatures, and sea level rise, and (ii) transition activities, including efforts to reduce GHG emissions or otherwise mitigate exposure to transition risks. The Company's management reviewed all material events through September 30, 2022 the date our quarter ended. By this date we don’t have any assets that directly or indirectly influenced on environmental. We indicated risks, include climate related risks in Item 1A Risk Factors in our 10-K report. |
Significant Accounting Polici_2
Significant Accounting Policies and Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation 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 September 30,2022 (Unaudited) and September 30,2021 (Unaudited) pursuant to the rules and regulations of the United States Securities and Exchange Commission (`SEC"). The Company has adopted June 30 fiscal year end. |
Use of Estimates and Assumptions | Use of Estimates and Assumptions 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. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company considers highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments ASC 825, 'Disclosures about Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements" defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2022. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accrued liabilities and notes payable. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. |
Basic and Diluted Loss Per Share | Basic and Diluted Loss Per Share The Company computes earnings (loss) per share in accordance with ASC 260-10-45 'Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings (loss) per share are equal. |
Revenue Recognition | Revenue Recognition We base our judgment on guidance ASC 606. The Company considered recognizes its revenue on the accrual basis, which considers revenue to be earned when the services have been performed. We considered gross revenue as a principal. Our revenue includes payments from the costumers for the logistic business. We Estimating Gross Revenue as a Principal. We evaluate the nature of our promises under the contracts and use judgment to determine whether the contracts include services, which we would need to evaluate for a material right or a performance obligation with quantity of services to be delivered. ASU 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) amends revenue recognition guidance within ASC 606 for these types of transactions. To determine the nature of its promise to the customer, the entity should: 1. Identify the specified goods or services to be provided to the customer, and 2. Assess whether it controls each specified good or service before that good or service is transferred to the customer. We are primarily responsible for fulfilling the promise to provide the specified service. We have the inventory risk before the specified service has been transferred to a customer, or after transfer of control to the customer (for example, if the customer has a right for cancel or return). |
Recent Accounting Pronouncements | Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Property and Equipment | Property and Equipment September 30, 2022 Automobile $ 0 Accumulated Depreciation $ 0 September 30, 2021 Automobile $ 32,000 Accumulated Depreciation $ (16,000 ) |
Description of Business (Detail
Description of Business (Details Narrative) - USD ($) | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Operating Revenues | $ 65,195 | $ 342,858 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 |
Accounting Policies [Abstract] | |||
Automobile | $ 0 | $ 0 | $ 32,000 |
Accumulated Depreciation | $ 0 | $ 0 | $ (16,000) |
Concentration of Credit Risk (D
Concentration of Credit Risk (Details Narrative) | Sep. 30, 2022 USD ($) |
Risks and Uncertainties [Abstract] | |
FDIC insurance limits | $ 250,000 |
Capital Stock (Details Narrativ
Capital Stock (Details Narrative) - USD ($) | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Common stock, authorized | 75,000,000 | 75,000,000 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock shares issued during period, shares | 0 | 0 | |
Common stock, shares issued | 15,592,000 | 15,592,000 | |
Common stock, shares outstanding | 15,592,000 | 15,592,000 | |
Stock options or warrants outsanding | 0 | 0 | |
Arithmetic L L C [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Common stock, shares held | 14,001,000 | ||
Andrei Stoukan [Member] | Arithmetic L L C [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Common stock shares issued during period, shares | 14,001,000 | ||
Common stock shares issued during period, value | $ 14,001 | ||
N 53 Non Affiliated Shareholders [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Common stock, shares held | 1,581,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Related Party Transactions [Abstract] | ||
Related party transaction | $ 0 | $ 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Cash | $ 4,370 | $ 9,125 | $ 7,737 |
Net loss | $ 3,367 | $ 25,425 |