The company has also entered financial services industry and through USXP Capital provides capital acquisition funding in the form of lease financing, to the national business community as well as within the framework of Universal Express other affiliates and subsidiaries.
Universal Express is consistently late with their regulatory filings with Securities and Exchange Commission.
For the last reported quarter March 31, 2007 the company‘s revenue had increased 22% to $1.2 million. The net loss however also increased by 20% to $-8.4 million. The company reported to have $874 thousand in cash at the end of the quarter. The stockholders equity had a strange increase from 0 to $8 million over the last quarter and the tangible assets increased from $-2 million to $5 million. With huge quarterly losses the company seems inadequately financed for further operations.
Universal Express is incurring relatively high cost of revenue. The net loss is increasing quarterly. In our opinion the stockholders equity should begin to drop shortly. It is sustained only through assets named as OTHER which might be doubted to be exact numbers. The company is also notoriously known for many lawsuits against other companies which are already seen as desperate attempts to raise additional money. The company is constantly diluting its stock despite the price already being as low as $0.0002.
Here's the description from company's SEC filing:
HISTORY
The Company was originally incorporated in the state of Nevada on April 6, 1983.
Universal Express, Inc. (USXP) has evolved into a conglomerate of supportive companies centered on its private postal network the UniversalPost(TM) Network.
Its principal businesses include the UniversalPost Network, Universal Express Logistics, Inc., which includes UniversalPost(TM) International Courier Service, Virtual Bellhop(R) and Luggage Express(TM), and Universal Express Capital Corp (which includes the Universal Cash Express division).
Its association of independent and franchise nationwide postal stores (UniversalPost) continues to evolve into a sophisticated buying service trade association, and market penetration vehicle.
UniversalPost International Courier Service when developed should earn revenues from selling discounted envelopes and services to the postal stores.
Luggage Express(TM) will enable consumers to have their baggage picked up at their home by a local UniversalPost member store and delivered to the consumers' destination.
Virtual Bellhop(R) is a premier door-to-door luggage transportation service.
Universal Express Capital Corp. is a full service asset based transportation/equipment leasing company. Its Universal Cash Express division provides stored value cards of all types to consumers.
USXP continues to mature as an accepted participant within the shipping and postal store industry.
The web site for the company and its businesses is http://www.usxp.com.
THE BUSINESS OF THE CORPORATION
Universal Express, Inc. (USXP) has evolved into a conglomerate of supportive companies and divisions centered around its private postal system.
The Company's principal subsidiaries and divisions are: UniversalPost Private Postal Network UniversalPost International Courier Service Virtual Bellhop(TM) Luggage Express(TM) Universal Express Capital Corp. Universal Cash Express MARKETPLACE
A challenging global economy has grown over the past decade. Internet, catalog and retail sales continue to mandate an inexpensive and responsive final mile Domestic and International delivery network. That innovative and outsourced final mile network continues to be addressed by Universal Express, Inc.
Universal Express has continues major expansion in the last decade. Strong strategic relationships are currently being established with companies and manufacturers, thus strengthening the UniversalPost private postal network.
Members of the UniversalPost private postal network provide the public with a complement to the U.S. Post Office for many retail and business postal services. In addition, these Postal Service Centers offer individuals and business customers an additional variety of personal business services and merchandise.
Our private postal and business service centers form a highly fragmented cottage industry. Universal Express believes that since this industry generates over $8 billion in sales and presently consists of more than 20,000 independent operators, there is a market opportunity for the development of an association with the goal of unifying and organizing the independent and franchised postal stores nationwide.
Our company believes that an affordable outsourced distribution system is needed to suit consumers' needs. Universal Express believes it has positioned itself to be a contender in the global economy for the next decade with the development of its complementary subsidiaries.
USXP is now positioned as a significant player in the international shipping and transportation industries. By building its divisions through classic outsourcing techniques, USXP's future revenue growth will not be offset by increased overhead.
In just the past few years, USXP has identified more than 8,000 private postal centers in a network called UniversalPost that produces growing revenue streams for both its members and USXP. USXP offers its UniversalPost Network members discounted services from some of the country's largest vendors, as well as innovative new luggage services that resonate in the world's present security-conscious travel climate.
USXP's business strategy is far more than the sum of today's parts. The company's three highly synergistic divisions position the company to create an entirely new industry paradigm by offering the private postal industry and consumers value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods and services worldwide.
UniversalPost(TM) Network, the name for USXP's private postal network, taps the purchasing power of over 20,000 privately owned and operated postal stores to create the nation's first truly organized and funded private postal system.
USXP's Web-based CRM software system empowers swift delivery of business products and services to the network: commercial mail receiving; office products and supplies; packaging and shipping; copying, imaging, photo finishing and digital services; home office boutique items; and even concierge services.
Universal Express Logistics, Inc. joins the company's visionary Luggage Express(TM) service offered through the UniversalPost Network and its Internet-based Virtual Bellhop(R) luggage pickup and delivery service to free travelers from the stress of dealing with their luggage as they travel across the country and around the world. USXP charges an average of $70 per piece to deliver dropped-off luggage to a traveler's final destination. The target customer is the upscale traveler planning extended stays at destination resorts, but the service is equally appealing to any traveler who prefers not to pay extra airline fees or struggle with heavy and awkward baggage at either end of their trip. When you consider that by 2005 domestic airline luggage is expected to exceed 3 billion pieces annually, USXP's revenue potential is substantial as acceptance of luggage transportation services reaches critical mass with further branding and advertising.
Universal Express Capital Corp. is a full-service, asset-based transportation and leasing service that provides capital acquisition funding for the business sector. USXP has established strategic alliances with a number of major manufacturing firms in the limousine, livery, small fleet, vehicle rental, delivery truck and van, bus and aircraft industries. The company projects minimum annual lease originations of $24 million. USXP recently entered into a management contract with Go Commercial Leasing Corp., which has a well-established customer base in the commercial transportation industry.
USXP Platinum(TM) Card is its answer to the millions of people who regularly send money overseas to their families. The USXP prepaid, FDIC insured ATM card provides an instant, secure method of money transfer across international borders. USXP Platinum Card also targets the 30% of the U.S. population with no checking accounts or credit and, with over 9,000 retail locations--a distribution plan that is creatively affordable.
UNIVERSALPOST(TM) - THE PRIVATE POSTAL NETWORK
UniversalPost, a private postal network, is an association formed to create a very much needed partnership between previously unconnected shipping and packaging store owners. This concept has been accomplished many times before in American industries, most notably by FTD's maturation of the independent florists across America and Interflora's unification and development of florists in Europe. UniversalPost provides independent store owners with a variety of cost effective services and products to help increase their profitability, while they are still able to maintain their local or franchised identities.
INDIVIDUAL SERVICES AND PRODUCTS
o Flowers/Gift Baskets o Money Transfer Services o Corrugated & Packaging o Lamination and Photo ID's o Customized Rubber Stamps o Equipment Leasing o Moving Supplies o Car Rental o Customized Corrugated o Business and Office Supplies o Parcel Insurance o Credit Card Processing o Check Processing o Payroll and Tax Processing o Prepaid Debit Card Load Stations o Visa - MasterCard o Discounted Supplies o Joint Promotions o Mailing Lists o Video Tape to DVD Conversion o Fingerprinting o Income Tax Preparation o Recycling o International Cell Phone Rental o Credit Union o Message On Hold o Retail Items o Health Care Coverage o Gift Cards o Passport & Visa Expediting o Retail Products o Sign Making
On July 19, 2004, the Company announced a Visa and Passport processing program with CIBT.
On August 12, 2004, the Company announced a partnership with Premier Companies/Hold Plus to offer custom audio productions.
UNIVERSALPOST(TM) - INTERNATIONAL COURIER SERVICE
UniversalPost, the International Courier Service, is an alliance of independently owned and operated express courier services operating in 268 cities in 120 countries. UniversalPost provides global delivery and services to international firms. This network currently delivers over 650,000 packages per month and is part of the world's largest independently owned courier network. It is the 5th largest express courier network in the world behind the integrated United States express carriers such as FedEx, UPS and DHL.
Unlike the major integrators who operate their own aircraft and thus offer rigid pick up and delivery schedule, UniversalPost members offer flexible, customized International services to meet a client's specific distribution needs. Instead of operating our own costly fleet, UniversalPost offers express International air courier service and expedited air cargo through regularly scheduled commercial airlines to transport time-sensitive documents, parcels, freight and mail.
According to industry estimates, private postal stores alone ship $600,000,000 annually in International packages and without UniversalPost are totally dependent upon their suppliers' shipping. The obvious synergy between UniversalPost, the International Courier Service and UniversalPost, the private postal network, enhances our unusual position in the shipping service industry.
Now UniversalPost Network members can offer an in-house solution for international deliveries at a higher profit margin for themselves and increase the value of international delivery service to their customers rather than the more expensive traditional carriers. The UniversalPost Networks' use of the UniversalPost envelope for their international shipping method instead of outsourced options strengthens the local postal stores' position as an international delivery solution.
LUGGAGE EXPRESS(TM) AND VIRTUAL BELLHOP
Luggage Express and its premier service, the Virtual Bellhop, facilitate and manage the movement of baggage door to door for leisure and business travelers.
With many years of logistical corporate and entrepreneurial experience in relevant core businesses, Universal Express has created a powerful logistical business model driven by multi-channel distribution and multi-market demand. We have established relationships with travel service providers and distribution partners.
There are significant market opportunities not limited to the abundance of checked bags presently being moved each year. Making travel easier and more enjoyable through luggage free travel is the goal of our two companies.
Whether it be through partners like hotels, airlines, cruise lines, credit card companies, airline or travel agencies, or simply our neighborhood postal store, we continue to introduce Americans to luggage-free travel.
With over 1.5 billion suitcases presently being checked by domestic passengers, our companies offer significant benefits to the airlines. Customer satisfaction, easier check-in, a secure alternative to curb-side check-in, less congestion in the departure hall and minimizing departure delays, defines our service. The FAA expects the number of airline passengers to double by 2005, making domestic luggage to exceed 3 billion suitcases. Luggage Express and Virtual Bellhop are indeed poised for luggage free travel.
On August 30, 2004, the Company announced a luggage program with the Ritz-Carlton Philadelphia Hotel.
On September 23, 2004, the Company announced that Luggage Express has been selected by the Virtuoso Town and Country Travel Magazine.
On September 28, 2004, the Company announced an agreement with Points.com to introduce its Luggage Express service and gift card programs to the loyalty industry.
UNIVERSAL EXPRESS CAPITAL CORP.
The Universal Express family of companies has broadened the nature of its core business by entering the financial services industry via the subsidiary of Universal Express Capital Corp. A full service, asset based transportation and equipment lessor, Universal Express Capital Corp. provides capital acquisition funding, in the form of lease financing, to the national business community as well as within the framework of Universal Express' other affiliates and subsidiaries.
On September 7, 2004, the Company announced a letter of understanding with Capitallance for the sale of 80% of Universal Express Capital Corp.
UNIVERSAL CASH EXPRESS
Universal Cash Express further exhibits its product diversification by providing the USXP Platinum(TM) stored value card to consumers nationwide. With a growing percentage of the population needing a simple and inexpensive alternative to traditional bank accounts combined with the continuing technological advancements of a "cash-less" society, Universal Cash Express now provides consumers with the banking services they want without the banking hassles. Universal Cash Express has launched its newest product line, Branded Gift Card Programs, such as the FTD Gift Card and the Luggage Express Rewards Program.
Distributing this product through the UniversalPost(TM) Network exposes the USXP Platinum stored value card to the wide range of consumers patronizing the 20,000 postal stores nationwide while enhancing store owners revenue via sales, fund loading, payroll and recurring usage fee structures associated with the card. A myriad of credit, finance, and marketing applications will be offered to USXP Platinum cardholders.
On March 16, 2004, the Company announced a floral gift card distribution agreement with InComm, Inc.
On July 1, 2004, the Company announced a dual cash debit card program.
On August 20, 2004, the Company announced an electronic payment service providing instant debit card load stations and bill payment services with Transaction Management LLC.
COMPETITION
The company believes that the maturation of the Private Postal Network (UniversalPost) will strengthen the profitable atmosphere of this cottage private postal industry. Lack of financial strength and market penetration have prevented some excellent franchisors and independent stores from properly promoting their services. The ability of UniversalPost to create a nationally accepted private postal industry that the American public will embrace and trust should recreate a viable industry. The Company feels it can convince through financial discounts the independent and nationwide franchisors that they must self-regulate for consumer acceptance and seize this opportunity to become part of this new cooperative partnership and private postal network.
INDUSTRY BACKGROUND
The future of the industry lies predominately in the international business community and domestic acceptance of private postal stores as a natural cohesive industry. As the world moves towards a Global Economy and trade tariffs begin to break down, the Company believes that new shipping markets and s opportunities will be developed and the key ingredients underlying these developments will be transportation and outlets for carriers as well as final mile fulfillment for direct marketing products.
The opportunities to expand our corporate scope are limitless due to shipping, logistical distribution needs and growth of services through the world.
The transportation industry has already developed the necessary infrastructure and continues to grow. The Company believes that the missing ingredients needed to make this industry improve are packaging, logistics and inexpensive residential locations.
The Company believes that a nationwide organized domestic fulfillment network with an affordable International Delivery System can become a key player in the Global Economy. The Company has positioned itself to be that public player in this lucrative market.
Members of UniversalPost provide the public with a complement to U.S. Post Offices for many retail postal services. In addition, our Service Centers offer individuals and business customers a variety of personal, business and communications services and merchandise.
MANAGEMENT
Mr. Richard A. Altomare has been President and CEO of Universal Express since May 1992, upon appointment by the reorganization court for Packaging Plus Services (predecessor of Universal Express) during Packaging's reorganization, completed in May, 1994. Mr. Altomare directs the Company, and is continuing to build a multi-faceted Company foundation for future growth in the global marketplace. He envisions a synergistic company capable of creating a profitable partnership between packaging store owners and their carriers, as well as building innovative businesses in the logistics, commercial vehicles capital funding and leasing and transportation fields.
TRADE MARKS AND SERVICE MARKS
The Company is the owner of tradenames, trademarks and service marks for the names and marks Universal Express(TM), Private Postal Network(TM), USXP Capital(TM), USXP Cash Express(TM), UniversalPost(TM), Luggage Express(TM), Virtual Bellhop(R), USXP Logistics(TM) and USXP Transportation(TM).
EMPLOYEES
As of June 30, 2004, the Company employed 25 individuals. The Company has not experienced any work stoppages and considers its relations with its employees to be excellent. To facilitate its UniversalPost Network, USXP Capital, Luggage Express and UniversalPost International Delivery expansion plans, management expects to engage in significant hiring of management, sales, operational and support personnel during 2004 and beyond.
