KUBR 10-K & 10-Q changes, risk factors and insider trading
Kuber Resources Corp · Radio Broadcasting Stations · CIK 1081834 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “Other income (expenses)”
Removed heading “Going concern assumption”
Largest changes
“As of December 31, 2023 and 2022, we had retained earnings of $761,658 and accumulated deficits of approximately $3,285,836 , respectively. Our directors are of the opinion that the preparation of these financial statements is based on a going concern and its basis has been stated in Note 3 to the financial statements. Should there be any problem in the going concern of us, all the assets and liabilities have to be stated at net realizable values.”see in full comparison
“Currently, we rely on the sale of our products and services as our primary source of liquidity and capital. We use the funds generated to cover the day-to-day operational costs of running the business.”see in full comparison
“For the years ended December 31, 2023 we incurred a net totaled $1,217,956 and in December 31, 2022 net income of $758,130. The increase in net income is due to increased business activity during 2023 which was as a result the new formaldehyde treatment services in China.”see in full comparison
For the year ended December 31, 2024 and 2023, the Company incurred $2,522,664see in full comparison$359,538and$68,289$359,176 as total operating expenses, respectively. For the year ended December 31, 2024, operating expenses consisted of selling expenses of $6,203, and general administrative expenses of $2,516,461. For the year ended December 31, 2023, operating expenses consisted of selling expenses of $9,638, and general administrative expenses of $349,538.Selling, general and administrative expenses comprise mainly of professional fees incurred being a reporting company, wages and salaries, and rent expenses for the years ended December 31, 2023.
Full comparison: every changed paragraph (22)
The Company’s current
business objective is to operate as a holding company with its subsidiaries operating in the wood treatment, tea and precious metals industry,
including acting as a distributor and trader.treatment. We intend to use the Company’s
limited personnel and financial resources in connection
with such activities.
On January 14, 2025, the Company, through Kuber Guangdong, closed on the Acquisition Agreement to acquire Gongfa Materials (Guangdong) New Materials Technology Co., Limited, a Chinese corporation, (“Gongfa”). As a result of the Closing, Gongfa is now a wholly owned subsidiary of Kuber Guangdong. Gongfa is a manufacturer of engineered wood products.
For the year ended December 31, 20232024 and 2022, 2023,
the Company generated
$2,249,288 $3,920,223 and $1,562,629$2,249,288 of revenue, respectively. Revenues from formaldehyde treatment services
were $2,147,172 and $nil for the years ended December 31, 2023 and 2022, respectively.
The Company generated $199,356$426,587 and $736,211$199,356 cost of revenue
for the
years ended December 31, 20232024 and, 2022,2023, respectively. The cost of revenues $199,536 is related to the formaldehyde
treatment services.
The breakdown of revenues and cost of revenues as follows:
For the year ended December 31, 2024 and 2023, the Company incurred
$2,522,664 $359,538
and $68,289$359,176 as total operating expenses, respectively. For the year ended December 31, 2024, operating expenses consisted
of selling expenses of $6,203, and general administrative expenses of $2,516,461. For the year ended December 31, 2023, operating expenses
consisted of selling expenses
of $9,638, and general administrative expenses of $349,538. Selling, general and administrative expenses comprise mainly of professional
fees incurred being a reporting company, wages and salaries, and rent expenses for the years ended December 31, 2023.
Selling, general and administrative expenses comprise mainly of professional fees incurred being a reporting company, wages and salaries, and rent expenses. The significant increase in operating expenses in 2024 was mainly attributable to research and development expenses.
Other income (expenses)
The Company recorded a loss from disposal of subsidiary of $416,896 and $nil for the years ended December 31, 2024 and 2023, respectively.
For the years ended December 31, 2024 we incurred a net income totaled $386,267 compared to net income of $1,217,956 for the year ended December 31, 2023.
The Company recorded a net loss from disposal of subsidiary of $432,442 and $0 for the years ended December 31, 2024 and 2023, respectively, attributable to the disposed subsidiary.
For the years ended December 31, 2023 we incurred a net totaled
$1,217,956 and in December 31, 2022 net income of $758,130. The increase in net income is due to increased business activity during 2023
which was as a result the new formaldehyde treatment services in China.
Currently, we rely on the sale of our products and services as our primary source of liquidity and capital. We use the funds generated to cover the day-to-day operational costs of running the business.
Currently, we are relying on sales of our products. Currently,
we pay costs associated with running a business on a day-to-day basis.
Net cash providedused byin operating activities for the
year ended December 31, 2023 was $201,182, and provided by operating activities was $12,561 for the year ended December 31, 2022,2024 was $82,656, and net cash provided by operating activities was $201,182 for the year ended December
31, 2023, respectively.
The net cash provided by operating activities for the year ended December 31, 2024 was primarily related to increase in accounts receivables, increase in inventories, increase in due from related parties with an offset by increase in accounts payable and other payable.
The net cash used in operating activities for
the year ended December 31, 2022 was primarily related to increase in other current assets and prepaid expense with an offset by increase
in accounts payable and contract liabilities.
We had cash provided by financing activities of $396,280, consisting of proceeds from related parties in the amount of $396,280 for the year ended December 31, 2024. There was no financing activities during the year ended December 31, 2023.
We received a total of $0 in financing, consisting of
$0 related to related party debt during the fiscal year ended December 31, 2023. We received a total of $99,519 in financing, consisting
of $99,519 from the issuances of loans payable from related parties, during the fiscal year ended December 31, 2022.
As reflected in the accompanying consolidated financial statements,
the Company has a net income of $1,217,956$386,267 infor the year ended December 31, 20232024. and in December 31, 2022 net income of $758,130. In addition, theThe Company
has an accumulated deficit of $2,067,880$1,998,366 and
a working capital of $1,964,114$2,522,062 as of December 31, 2023.2024.
Going concern assumption
As of December 31, 2023 and 2022, we had retained
earnings of $761,658 and accumulated deficits of approximately $3,285,836 , respectively. Our directors are of the opinion that the preparation
of these financial statements is based on a going concern and its basis has been stated in Note 3 to the financial statements. Should
there be any problem in the going concern of us, all the assets and liabilities have to be stated at net realizable values.
What changed in the latest 10-Q
Risk Factors
We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
Largest changes
Results Of Operations During thesee in full comparisonSixNine months endedJuneSeptember 30, 20252025as Compared to theSixNine months endedMarch 31, 2024JuneSeptember 30, 2024
For the three months endedsee in full comparisonJuneSeptember 30, 2025 and 2024,2024,we incurred operating expenses of$1,488,854$291,193 and$1,010,693,$1,089,445, respectively. For the three months endedJuneSeptember 30, 2025,operating expenses consisted of selling expenses of $5,126, and general administrative expenses of $1,483,728. For the three months June 30, 2024,operating expenses consisted of selling expenses of$12,542,$5,922, and general administrative expenses of$998,151.$285,271. For the three months September 30, 2024, operating expenses consisted of selling expenses of $nil, and general administrative expenses of $1,089,445. Theincreasedecrease in operating expensesexpensesis mainly due toincreaseddecreased professional fees and research and development expenses.
For thesee in full comparisonsixnine months endedJuneSeptember 30, 2025 and 2024, we incurred operating expenses of$2,545,339$2,836,537 and$1,966,805,$3,027,548, respectively. For thesixnine months endedJuneSeptember 30, 2025, operating expenses consisted of selling expenses of$10,073,$15,995, and general administrative expenses of$2,535,266.$2,820,537. For theSixnine monthsJuneSeptember 30, 2024, operating expenses consisted of selling expenses of $28,702, and general administrative expenses of$1,938,103.$3,027,548. Theincreasedecrease in operating expenses is mainly due toincreaseddecreased professional fees and research and development expenses.
For thesee in full comparisonsixnine months endedJuneSeptember 30, 2025, we had cashprovidedusedbyin financing activities of$2,356,$12,749, consisting of repayments to short-term loans and borrowings of$46,605,$53,047, and proceeds from related parties in the amount of$48,961.$40,298. As compared to the same period in 2024, we had cash used in financing activities of$5,679,950,$5,090,892, consisting repayment to borrowings of$56,771$56,849 and related parties of$5,664,874$5,075,795 and net proceeds from short-term loan of$41,695.$41,752.
For thesee in full comparisonSixnine months endedJuneSeptember 30, 2025 and 2024, we incurred interest expense, net of$16,729$22,847 and$37,308,$38,291, respectively. We also recognized a loss from disposal of subsidiary $416,896 for the nine months ended September 30, 2024.
For thesee in full comparisonsixnine months endedJuneSeptember 30, 2025 and 2024, the Company generated$9,495,293$10,270,540 of revenue and$7,430,276,$10,708,435, respectively, representinganaincreasedecrease of$2,065,017$437,895 or27.8%.4.1%.
Full comparison: every changed paragraph (26)
Results Of Operations During the Three months ended JuneSeptember 30,
2025 as Compared to the Three Months ended JuneSeptember 30, 2024
For the three months ended JuneSeptember 30, 2025 and
2024, 2024,
the Company generated $3,321,882$775,247 of revenue and $2,404,838,$3,278,159, respectively, representing ana increasedecrease of $917,044$2,502,912 or 38.13%.76.35%.
For the three months ended
ended JuneSeptember 30, 2025 and 2024, the Company generated cost of revenue of $1,528,186$463,236 and $1,578,037,$1,087,289, respectively. The cost of revenue is related
related to the formaldehyde treatment service and cost of goods sold wood panels.
For the three months ended JuneSeptember 30, 2025 and
2024, 2024,
the gross profit was $1,793,696$312,011 or 54.0%40.25% and $826,801$2,190,870 or 34.38%,66.83%, respectively.
For the three months ended JuneSeptember 30, 2025 and
2024, 2024,
we incurred operating expenses of $1,488,854$291,193 and $1,010,693,$1,089,445, respectively. For the three months ended JuneSeptember 30, 2025, operating expenses
consisted of selling expenses of $5,126, and general administrative expenses of $1,483,728. For the three months June 30, 2024, operating
expenses consisted of selling expenses of $12,542,$5,922, and general administrative expenses of $998,151.$285,271. For the three months September 30,
2024, operating expenses consisted of selling expenses of $nil, and general administrative expenses of $1,089,445. The increasedecrease in operating
expenses expenses
is mainly due to increaseddecreased professional fees and research and development expenses.
For the three months ended JuneSeptember 30, 2025 and
2024, we incurred interest
expense, net of $12,556$6,118 and interest incomeexpense of $672,$983, respectively.
For the three months ended JuneSeptember 30, 2025 and
2024, we incurred income
tax benefits of $94,877$4,979 and income tax expense of $26,143,$146,815, respectively.
For the three months ended JuneSeptember 30, 2025 and
2024, 2024,
we generated net income of $387,163$9,721 compared to a net loss of $209,363,$536,731, respectively.
The significant increasedecrease in net income during the
the three months ended JuneSeptember 30, 2025 is mainly due to the increaseoverall decrease of revenues from formaldehyde
treatment services
and sales of wood panels.
Results Of Operations During the SixNine months ended JuneSeptember 30,
2025 2025
as Compared to the SixNine months ended March 31, 2024JuneSeptember 30, 2024
For the sixnine months ended JuneSeptember 30, 2025 and 2024,
the Company generated $9,495,293$10,270,540 of revenue and $7,430,276,$10,708,435, respectively, representing ana increasedecrease of $2,065,017$437,895 or 27.8%.4.1%.
For the sixnine months ended
JuneSeptember 30, 2025 and 2024, the Company generated cost of revenue of $3,695,311$4,158,547 and $4,220,601,$5,307,890, respectively. The cost of revenue is
related related
to the formaldehyde treatment service and cost of goods sold wood panels.
For the sixnine months ended JuneSeptember 30, 2025 and 2024,
the gross profit was $5,799,982$6,111,993 or 61.08%59.51% and $3,209,675$5,400,545 or 43.20%,50.43%, respectively.
For the sixnine months ended JuneSeptember 30, 2025 and 2024,
we incurred operating
expenses of $2,545,339$2,836,537 and $1,966,805,$3,027,548, respectively. For the sixnine months ended JuneSeptember 30, 2025, operating expenses
consisted of selling expenses
of $10,073,$15,995, and general administrative expenses of $2,535,266.$2,820,537. For the Sixnine months JuneSeptember 30, 2024, operating
expenses consisted of selling
expenses of $28,702, and general administrative expenses of $1,938,103.$3,027,548. The increasedecrease in operating expenses
is mainly due to increased
decreased professional fees and research and development expenses.
For the Sixnine months ended JuneSeptember 30, 2025 and 2024,
we incurred interest expense, net of $16,729$22,847 and $37,308,$38,291, respectively. We also recognized a loss from disposal of subsidiary $416,896
for the nine months ended September 30, 2024.
For the sixnine months ended JuneSeptember 30, 2025 and 2024,
we incurred income tax expense of $150,534$155,513 and $248,611,395,426, respectively.
For the sixnine months ended JuneSeptember 30, 2025 and 2024,
we generated net income of $3,087,380$3,097,101 compared to a net income of $956,951,$1,493,682, respectively.
The significant increase in net income during the
the sixnine months ended JuneSeptember 30, 2025 is mainly due to the increase of formaldehyde treatment services
and sales of wood panels.panels during Q1 and Q2 of 2025.
As of JuneSeptember 30, 2025, we had current assets of $17,957,657
$15,937,195 as compared
to $11,505,173 as of December 31, 2024. We have cash of $67,326$38,654 and $155,861 as of JuneSeptember 30, 2025 and December
31, 2024, respectively.
Net cash used in operating activities
for the sixnine months ended JuneSeptember 30, 2025 was $91,374,$104,213, and cash provided by operating activities was $4,547,783$3,952,507 for the sixnine months
ended ended
JuneSeptember 30, 2024, respectively.
The net cash used in operating activities
activities for the sixnine months ended JuneSeptember 30, 2025 was primarily related to decrease of accounts receivables, increase of other payables and
and accrued expenses; offset by increase in inventory, decrease in accounts payablepayable, and net income of $3,087,380.$3,097,101.
The net cash provided by operating
activities for the sixnine months ended JuneSeptember 30, 2024 was primarily related to increase in accounts receivables, decrease in due from
related related
parties, increase in taxes payable, decrease in inventory; offset by decrease in accounts payable, increase in advances to suppliers,
and net income of $956,951$1,493,682
There was no
no net cash used in investing activities for the sixnine months ended JuneSeptember 30, 2025 and 2024, respectively
For the sixnine months ended JuneSeptember 30, 2025, we had
cash providedused byin financing
activities of $2,356,$12,749, consisting of repayments to short-term loans and borrowings of $46,605,$53,047, and proceeds from
related parties in the
amount of $48,961.$40,298. As compared to the same period in 2024, we had cash used in financing activities of $5,679,950, $5,090,892,
consisting repayment
to borrowings of $56,771$56,849 and related parties of $5,664,874$5,075,795 and net proceeds from short-term loan of $41,695.$41,752.
As of JuneSeptember 30, 2025 we did not have any off-balance
sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under the Securities Act of 1934.
As of JuneSeptember 30, 2025 we did not have any contractual
obligations.
KUBR insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding KUBR (13F)
None of the 59 investors we track reported a position in their latest 13F.