Ultimate Holdings Group Reports Increased Operating Losses and No Revenue for Six Months Ending January 31, 2025

Ultimate Holdings Group, Inc. reported its financial results for the six months ending January 31, 2025, revealing a continued trend of operating losses and no revenue generation. The company recorded total operating expenses of $147,983 for the period, a significant increase of 60% compared to $92,645 for the same period in the previous fiscal year. The net loss for the six months was $147,983, compared to a loss of $92,645 in the prior year, indicating a worsening financial position.

The company's balance sheet as of January 31, 2025, showed total assets of $8.8 million, a decrease from $9.1 million as of July 31, 2024. Current liabilities increased sharply to $392,512 from $258,674, contributing to a shareholders' deficit of $383,706, up from $249,573 in the previous period. This deterioration in financial health raises concerns about the company's ability to continue as a going concern, as it has not established any source of revenue to cover its operating costs.

Strategically, Ultimate Holdings Group has undergone significant organizational changes, including a change in control following a share purchase agreement in April 2023. Ryohei Uetaki was appointed as the new Chief Executive Officer and controlling shareholder, succeeding Paul Moody. The company has not yet identified any potential business combinations or acquisitions, as it continues to operate as a "blank check" company, focusing on finding a suitable target for merger or acquisition.

Operationally, the company has not reported any customer counts or user statistics, reflecting its current status as a development-stage entity without active business operations. The company’s employee headcount remains unchanged at 611. The lack of revenue generation and reliance on related-party transactions for funding, which amounted to $189,481 in operating expenses paid by Harbin Co., Ltd., underscores the precarious financial situation.

Looking ahead, management has indicated plans to fund ongoing operating expenses through borrowings from related parties, although there is no assurance that this strategy will be successful. The company continues to face substantial doubt regarding its ability to sustain operations in the absence of revenue. As it seeks to identify a viable business combination, Ultimate Holdings Group remains focused on long-term growth potential rather than immediate earnings.