Discussion and analysis by UPAY management of the financial situation and operating results (Form 10-Q)
FORWARD-LOOKING STATEMENTS
This document contains “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for the purposes of federal and state securities laws, including, but not limited to, projections of earnings, income or other items. financial; any statement of management’s plans, strategies and objections for future operations; any statement regarding new services or developments offered; any statement regarding economic conditions or future performance; any statement or belief; and any statement of hypothesis underlying any of the above.
Forward-looking statements may include the words “may”, “could”, “estimate”, “intend”, “continue”, “believe”, “expect” or “anticipate” or other similar words. . These forward-looking statements only present our estimates and assumptions as of the date of this report. With the exception of our applicable securities laws, we do not intend, and assume no obligation, to update any forward-looking statements.
Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. Factors affecting these risks and uncertainties include, but are not limited to:
· Our results are vulnerable to economic conditions; · Our ability to raise adequate working capital; · Loss of customers or sales weakness; · Inability to achieve sales levels or other operating results; · The unavailability of funds for expansion purposes; · Operational inefficiencies; · Increased competitive pressures from existing competitors and new entrants. Trends and Uncertainties
Our business is subject to the following trends and uncertainties:
· Whether our system will be adaptable to the company's needs and the country in which they are located · Whether we will develop interest in our software system in the countries that we plan on conducting our business · The level of activity of credit facilities and their need for our software
End of planned operations in the United States
In December 2021, we ended our plan to continue operating in the United States for the following reasons: (a) increased state regulation and associated increase in transaction costs, which will cause difficulties in complying with various regulations. increased states and costs; (b) pending and potential legislation that would significantly hamper our ability to operate successfully in the
We plan to grow our business by organically developing our
operations and potentially expand our business to other
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Operating results: For the 3 months ended
Revenues
Our income for the 3 month period ended
resulting in a growth of our
DebiCheck is a new type of debit order transaction integrated into our
Net Loss/Profit
We had a net profit of
Expenses
We incurred total expenses of
Operating results: For the 9 months ended
Revenues
Our income for the 9 month period ended
16 Net Loss/Profit
We suffered a net loss of
Expenses
We incurred total expenses of
Liquidity and capital resources
We had a working capital of
Our net cash from operating activities was
Our net cash used in investing activities has been
respectively, for the 9 months ended
Our net cash from financing activities was
Off-balance sheet provisions
Nothing.
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