UHF Logistics : Annual Financial Statements

UHF LOGISTICS GROUP, INC.

BALANCE SHEET

As at February 28, 2022 and 2021

(Unaudited)

		February 28,		February 28,
Assets		2022		2021
Current Assets
Cash and Cash Equivalents	$	-	$	-
Total Current Assets		-		-
Total Assets	$	-	$	-
Liabilities
Current Liabilities
Accounts Payable	$	5,714	$	4,284
Accruals		-		-
Note Payable		-		-
Due to Related Party		8,820		3,220
Total Current Liabilities		14,534		7,504
Total Liabilities	$	14,534	$	7,504
Stockholder's Deficit
Common Stock, par value $0.001 authorized
300,000,000 shares, 208,816,666 shares issued and
outstanding as of February 28, 2022 and 2021		208,817		208,817
Additional Paid in Capital		6,126,967		6,126,967
Accumulated Deficit		(6,350,318)		(6,343,288)
Total Stockholders' Deficit		(14,534)		(7,504)
Total Liabilities and Stockholders' Deficit	$	-	$	-

The accompanying notes are an integral part of these financial statements.

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UHF LOGISTICS GROUP, INC.

INCOME STATEMENT

Year Ending February 28, 2022 and 2021

(Unaudited)

			Year Ending			Year Ending
Revenues	$		February 28, 2022	$		February 28, 2021
	-		-
Costs of Services			-			-
Gross Margins	$		-	$		-
Expenses
General and Administrative	$		-	$		-
Interest Expense	$		-	$		-
Professional Services	$		7,030	$		1,430
Total Expenses	$		7,030	$		1,430
Other Income (Expenses)			-			-
Income (Loss) From Operations	$		(7,030)	$		(1,430)
Net Income (Loss)	$		(7,030)	$		(1,430)
Gain (Loss per Share, Basic & Diluted)	$		-	$		-
Weighted Average Shares Outstanding			208,816,666			208,816,666

The accompanying notes are an integral part of these financial statements.

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UHF LOGISTICS GROUP, INC.

STATEMENT OF CASH FLOWS

Year Ending February 28, 2022 and 2021

(Unaudited)

			Year Ending			Year Ending
			February 28,			February 28,
CASH FLOW FROM OPERATING ACTIVITES			2022			2021
Net Income (Loss) for the Period	$		(7,030)	$		(1,430)
Adjustments to reconcile net loss to net cash used by
operating activities
Increase (Decrease) in accounts payable/accruals	$		1,430	$		1,430
Net Cash Used in Operating Activities	$		(5,600)	$		-
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from related party debt	$		5,600	$		-
Net Cash Provided by Financing Activities	$		5,600	$		-
Net (Decrease) Increase in Cash
$		-	$		-
Cash at Beginning of Period
$		-	$		-
Cash at End of Period	$		-	$		-
Supplemental Disclosure
Cash paid during the year for
Interest	$		-	$		-
Income Taxes	$		-	$		-
Non-Cash Investing and Financing Activities
Common stock issued for conversion of related party debt	$		-	$		-

The accompanying notes are an integral part of these financial statements.

F‐3

UHF LOGISTICS GROUP, INC.

STATEMENT OF CHANGES IN SHAREHOLDERS' DEFICIT

Year Ending February 28, 2022 and 2021

(Unaudited)

					Additional
					Paid-in		Accumulated
Balance at February 29, 2020	Shares	$	Amount	$	Capital	$	Deficit	$	Total
208,816,666	208,817	6,126,967	(6,341,860)	(6,076)
Net loss for the year ending
February 28, 2021	-	$	-	$	-	$	(1,428)	$	(1,428)
Balance at February 28, 2021	208,816,666	$	208,817	$	6,126,967	$	(6,343,288)	$	(7,504)
Net loss for the year ending
February 28, 2022	-		-		-		(7,030)		(7,030)
Balance at February 28, 2022	208,816,666	$	208,817	$	6,126,967	$	(6,350,318)	$	(14,534)

The accompanying notes are an integral part of these financial statements.

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UHF LOGISTICS GROUP, INC.

NOTES TO FINANCIAL STATEMENTS

Year Ending February 28, 2022

(Unaudited)

NOTE 1 - ORGANIZATION AND OPERATIONS

UHF Logistics Group, Inc. (the "Company") was originally incorporated in the State of Nevada on July 1, 2005 as Regal Rock, Inc. On December 3, 2007, the Company changed its name to Regal Life Concepts, Inc. and on March 31, 2010, the Company changed its name to Regal Group, Inc. On January 6, 2011, the Company changed its name to UHF Logistics Group, Inc. its current name. The Company changed to its most recent name to reflect its change in becoming a consulting services provider to private companies for purposes of expansion.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company's financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing anddetecting fraud. The Company's system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and

1. transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.

Income Taxes

The Company follows FASB ASC Subtopic 740, Income Taxes, for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled.

Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation

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