UCASU
UC Asset, LP0.4280
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.35MP/E (TTM)
2.85Basic EPS (TTM)
0.15Dividend Yield
0%Recent Filings
8-K
SEC objects to accounting method
UC Asset LP disclosed on March 22, 2022, that the SEC objects to its use of Investment Company accounting under ASC 946 for historical periods, rendering prior financial statements unreliable. The company will withdraw from full SEC registration by filing Form 15 and shift to Regulation A filings, avoiding amendments. Management consulted auditors BF Borgers & Co. This move sidesteps restatements but exposes the firm to regulatory scrutiny and potential financial impacts.
10-Q
Q3 FY2021 results
UC Asset LP posted a net decrease in net assets of $568K for Q3 ended September 30, 2021, swinging to a loss from $67K gain y/y, driven by $149K cost of sales outpacing $59K total income while operating expenses climbed 81% y/y to $222K on higher general and administrative costs. YTD through nine months, the net decrease widened to $825K from $1.8M y/y, with gross margin flipping to $43K profit from $346K loss amid $2.1M income versus $2.1M costs, yet operating loss of $464K reflected elevated $507K expenses including management fees. Per-unit loss hit $0.10 in Q3 and $0.15 YTD, consistent with 5.6M weighted average units. Cash dipped to $826K after $349K operating outflow, offset by $400K mortgage financing, leaving $400K debt at 4.25% maturing Q3 2022. Acquisitions boosted portfolio investments 4% y/y to $7.8M, including the $1.65M Rufus Rose House for NFT potential. Controls remain ineffective due to staffing shortages. Rising construction costs pose a key risk.
10-Q
Q1 FY2021 results
UC Asset LP narrowed its net investment loss to $170,425 in Q1 2021 ended March 31, from $994,022 a year earlier, thanks to milder unrealized hits on portfolio investments while total income climbed to $90,861 from $30,647 on stronger rental and interest streams. Operating expenses edged up to $161,070, driven by professional fees, yielding a gross margin of 100% on slim sales. Cash dipped to $1.3M after $92K used in operations, offset by $11K from loan repayments; no debt weighs on the balance sheet. Preferred units issued in 2020 for $300K bolster capital without dilution yet. Portfolio fair value held at $7.4M, anchored in Atlanta real estate. Controls faltered on staffing shortages. Yet competition sharpens in the volatile property game.
10-Q
Q2 FY2021 results
UC Asset LP posted total income of $1.97M in Q2 2021, up from $0.91M a year earlier, driven by $1.91M in home sales through Atlanta Landsight LLC, though gross margin shrank to $42.6K from a $433.7K loss amid higher costs. Operating expenses held steady at $123.5K, yielding a net investment loss of $80.9K before a $6.1K unrealized hit on portfolio investments, for a $87K overall dip—far milder than 2020's $854.5K plunge. YTD through June 30, 2021, losses totaled $257.4K on $2.06M income, with EPS at -$0.05 across 5.635M diluted units. Cash swelled to $2.72M after $1.07M from investing and $400K mortgage financing for SHOC Holdings' new property, but operations burned $170.4K with no capex disclosed for FCF. No non-GAAP metrics provided. Internal controls faltered on staffing and segregation issues.
10-K
FY2020 results
UC Asset LP wrapped FY2020 with total income of $4.5 million, up sharply from $2.9 million in 2019, fueled by $4.4 million in home sales through Atlanta Landsight LLC, though gross margins stayed razor-thin at $136K amid higher costs. Q4 saw the pivotal sale of the Farmersville, TX farmland for $1.3 million—$100K cash plus a secured $1.2 million note at 8%—capping a year of portfolio churn with five properties flipped and four rentals pulling $14,600 monthly. Yet operations bled $449K before a $463K unrealized gain bump, netting just $14K to partners' capital, while cash swelled to $1.4 million on investing inflows. No dividends flowed, but liquidity strengthened sans debt. Still, recurring losses and negative operating cash flows cast shadows on momentum.
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