HBUV — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-26

• Our revenues increased to $593,738 for the three months ended March 31, 2026, compared to $383,512 for the three months ended March 31, 2025, an increase of $210,226, or 55%.. The increase is due to having less vacancies this quarter.

• Professional fees expense for the three months ended March 31, 2026 was $25,783, compared to $35,224 for the three months ended March 31, 2025, a decrease of $9,441, or 27%. Professional fees consisted of legal, audit and accounting fees, which decreased primarily due to less accounting fees.

• Repairs and maintenance expense for the three months ended March 31, 2026 was $88,087, compared to $107,992 for the three months ended March 31, 2025, a decrease of $19,905, or 18%. Repairs and maintenance expense decreased due to less renovations during the current period.

• Depreciation expense for the three months ended March 31, 2026 was $73,492, compared to $61,745 for the three months ended March 31, 2025, an increase of $11,747, or 19%. Depreciation expense increased during the current period due to properties that were purchased in the prior year.

• Other expense for the three months ended March 31, 2026 was $422,421, compared to $370,362 for the three months ended March 31, 2025, an increase of $52,059, or 14%. During the three months ended March 31, 2026, other expense consisted of $6,416 of dividends expense, $396,003 of interest expense, an…

Text removed vs the prior filing · source: 10-Q · 2025-11-17

• Our total revenues increased to $628,792 for the three months ended September 30, 2025, compared to $616,393 for the three months ended September 30, 2024, an increase of $12,399, or 2%. The increase is due primarily to additional rental properties acquired during the current period.

• Professional fees for the three months ended September 30, 2025 was $14,495, compared to $35,867 for the three months ended September 30, 2024, a decrease of $21,372, or 60%. Professional fees consisted of legal, audit and accounting fees, which increased primarily due to increased compliance costs …

• Property tax expense for the three months ended September 30, 2025 was $76,288, compared to $44,403 for the three months ended September 30, 2024, an increase of $31,855, or 72%. The increase is primarily due to the acquisition of additional properties during the current period.

• Repairs and maintenance expense for the three months ended September 30, 2025 was $4,395, compared to $8,822 for the three months ended September 30, 2024, a decrease of $4,427, or 50%. Repairs and maintenance expense decreased due to less repairs on certain properties during the current period.

• Depreciation expense for the three months ended September 30, 2025 was $71,837, compared to $64,028 for the three months ended September 30, 2024, an increase of $7,809, or 12%. Depreciation expense decreased during the current period due to recent property acquisitions now being depreciated.

Text added vs the prior filing · source: 10-Q · 2026-05-26

• In performing the above-referenced assessment, our management identified the following material weaknesses:

• ● The Company does not have adequate segregation of duties in the handling of their financial reporting. This is caused by a very limited number of personnel.

• ● The Company’s system of internal controls failed to identify multiple journal entries that were identified by the Company’s external auditor.

• ● The Company has no formal control process related to the identification and approval of related party transactions.

• ● The Company’s accounting staff does not have sufficient technical accounting knowledge relating to accounting for income taxes and complex US GAAP matters.

Text removed vs the prior filing · source: 10-Q · 2025-11-17

• ●The Company does not have adequate segregation of duties in the handling of their financial reporting. This is caused by a very limited number of personnel.

• ●The Company’s system of internal controls failed to identify multiple journal entries that were identified by the Company’s external auditor.

• ●The Company has no formal control process related to the identification and approval of related party transactions.

• ●The Company’s accounting staff does not have sufficient technical accounting knowledge relating to accounting for income taxes and complex US GAAP matters.

• We believe the weaknesses and their related risks are not uncommon in a company of our size because of the limitations in the size and number of staff. Due to our size and nature, segregation of all conflicting duties has not always been possible and may not be economically feasible. However, we pla…