🧠 At a Glance
UPAY Inc (OTC: UPYY) just filed its FY2024 10-K, and the results are so tragic, they should’ve premiered on Netflix as a limited docuseries: “How Not to Run a Fintech.”
- 💸 Revenue: $75,084
- 🔥 Net Loss: $3.85 million
- 🧃 Cash Left: ~$50K
- 📉 Stock: Trading near evaporation point
- ⚠️ Auditors: “Going concern? That ship’s already halfway sunk.”
The only thing growing at UPAY is the red ink on their P&L.
🪙 What Does UPAY Do Again?
- Merchant payment processing? ✅
- CBD e-commerce? ✅
- Digital marketing? ✅
- Fintech? ✅
- Blockchain? AI? Buzzword salad? ✅✅✅
UPAY’s business model is like ordering everything off Zomato and hoping one dish turns out okay.
They’ve tried more verticals than your average MBA intern in a startup pitch competition.
📉 Full Financial Roast
| Metric | Value |
|---|---|
| Revenue | $75,084 |
| Gross Profit | $24,633 |
| Operating Loss | $3.42 million |
| Net Loss | $3.85 million |
| Cash in Hand | ~$50,000 |
| Total Assets | $1.1 million |
| Total Liabilities | $3.25 million |
| Shareholder Equity | Negative |
The company spent $3.85 million to earn $75K.
Even unicorns would call this a scammy ratio.
🧨 “Going Concern” Red Flag? ✅
From the 10-K itself:
“There is substantial doubt about our ability to continue as a going concern…”
In plain English:
“We might not be here next quarter. Good luck!”
🧪 Innovation or Imagination?
Here’s what they say they’re working on:
- Integrating AI into merchant services
- Expanding product lines across fintech, CBD, and e-commerce
- Strategic M&A plans (lol)
Here’s what’s actually happening:
- No new launches
- No partnerships
- No revenues beyond side hustle money
🧍 Shareholders Be Like…
Imagine investing in a company because they said “blockchain + CBD + fintech” in the same sentence…
…only to find out they have $50K in cash and $3.25M in liabilities.
This is not a turnaround — it’s a slow-motion implosion.
🚩 EduInvesting Verdict
UPAY isn’t a company — it’s a Buzzword Generator LLC.
They burned millions chasing trends, posted barely any revenue, and now survive on vibes, dilution, and what looks like unpaid interns.
🔖 Tags:
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