Every 10-Q that UPAY INC (UPYY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UPYY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UPYY filings page.
UPAY Inc, a Nevada-based software developer serving credit providers in South Africa, reported revenue of $226,347 for the three months ended May 31, 2026, up from $170,414 a year earlier. Gross profit was $166,942, while total expenses of $269,811 led to a net loss of $115,440, compared with a $141,986 loss in the prior-year period.
As of May 31, 2026, assets totaled $224,490 against liabilities of $807,428, resulting in a stockholders’ deficit of $582,938 and negative working capital of $380,139. Cash and cash equivalents were $91,692, with $74,222 of net cash used in operating activities funded by $75,000 of new related-party debt. Management states that limited revenues and reliance on external financing raise substantial doubt about the ability to continue as a going concern.
Customer concentration remains high, with four customers providing most revenue, and the company continues to compensate directors and service providers with restricted stock. Management concludes that disclosure controls and procedures are not effective, citing a material weakness tied to an inadequate control environment, no independent directors, and no audit committee financial expert.
UPAY, Inc. reported modestly higher quarterly revenue but a much larger loss for the quarter ended November 30, 2025. Revenue for the three months rose to $184,587 from $150,366 a year earlier, driven mainly by higher transactional activity in South Africa. However, a loss on settlement of debt of $904,400 pushed the quarterly net loss to $1,032,123, compared with a net loss of $159,184 in the prior-year quarter.
For the nine months, revenue was $543,948 versus $575,686 a year earlier, while the net loss widened to $1,291,361 from $501,185. Total assets were $211,845 and total liabilities $698,196, resulting in a stockholders’ deficit of $486,351 as of November 30, 2025. Negative working capital improved but remained a deficit. Management states there is substantial doubt about the company’s ability to continue as a going concern and plans to rely on equity financing, with internal controls over financial reporting also deemed not effective.
UPAY, Inc. reported operating results for the three and six months ended August 31, 2025. For the quarter the company recorded revenue of $188,947, up from $168,071, and a net loss of $117,252, improved from a loss of $191,324 a year earlier. For the six-month period revenue fell to $359,361 from $425,320, and net loss narrowed to $259,238 from $342,001, driven primarily by lower general and administrative expenses and changes in South African transactional revenue.
The company has working capital of ($409,379) and used $188,768 of cash in operating activities in the six months. Management states it does not have sufficient revenues to execute its business plan and intends to seek equity financing, and that these factors raise substantial doubt about the company’s ability to continue as a going concern.