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Union Bridge Holdings Ltd. – ‘10-Q’ for 6/30/20 – ‘XML’

On:  Friday, 7/31/20, at 2:22pm ET   ·   For:  6/30/20   ·   Accession #:  1640334-20-1936   ·   File #:  0-55731

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/31/20  Union Bridge Holdings Ltd.        10-Q        6/30/20   48:1.9M                                   Pubco Reporting … Inc/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    368K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     18K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     18K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     14K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     14K 
12: R1          Cover                                               HTML     65K 
13: R2          Consolidated Balance Sheets                         HTML     59K 
14: R3          Consolidated Balance Sheets (Parenthetical)         HTML     31K 
15: R4          Consolidated Statements of Operations and           HTML     56K 
                Comprehensive Loss (Unaudited)                                   
16: R5          Consolidated Statements of Changes in               HTML     33K 
                Stockholders' Deficit (Unaudited)                                
17: R6          Consolidated Statements of Cash Flows (Unaudited)   HTML     61K 
18: R7          Organization, Description of Business, and Going    HTML     24K 
                Concern                                                          
19: R8          Significant Accounting Policies                     HTML     40K 
20: R9          Business Combination                                HTML     21K 
21: R10         Accounts Receivable                                 HTML     16K 
22: R11         Prepaid Expenses and Deposits                       HTML     20K 
23: R12         Inventories                                         HTML     16K 
24: R13         Accounts Payable and Accrued Liabilities            HTML     21K 
25: R14         Related-Party Transactions                          HTML     19K 
26: R15         Stockholders' Deficit                               HTML     17K 
27: R16         Concentration Risk                                  HTML     17K 
28: R17         Subsequent Events                                   HTML     17K 
29: R18         Significant Accounting Policies (Policies)          HTML     76K 
30: R19         Significant Accounting Policies (Tables)            HTML     20K 
31: R20         Business Combination (Tables)                       HTML     21K 
32: R21         Prepaid Expenses and Deposits (Tables)              HTML     20K 
33: R22         Accounts Payable and Accrued Liabilities (Tables)   HTML     21K 
34: R23         Organization, Description of Business, and Going    HTML     43K 
                Concern (Details Narrative)                                      
35: R24         Significant Accounting Policies (Details)           HTML     20K 
36: R25         Significant Accounting Policies (Details            HTML     15K 
                Narrative)                                                       
37: R26         Business Combination (Details)                      HTML     29K 
38: R27         Accounts Receivable (Details Narrative)             HTML     16K 
39: R28         Prepaid Expenses and Deposits (Details)             HTML     22K 
40: R29         Inventories (Details Narrative)                     HTML     20K 
41: R30         Accounts Payable and Accrued Liabilities (Details)  HTML     21K 
42: R31         Related-Party Transactions (Details Narrative)      HTML     43K 
43: R32         Stockholders' Deficit (Details Narrative)           HTML     27K 
44: R33         Concentration Risk (Details Narratives)             HTML     25K 
46: XML         IDEA XML File -- Filing Summary                      XML     77K 
11: XML         XBRL Instance -- ughl_10q_htm                        XML    370K 
45: EXCEL       IDEA Workbook of Financial Reports                  XLSX     46K 
 8: EX-101.CAL  XBRL Calculations -- ughl-20200630_cal               XML     81K 
10: EX-101.DEF  XBRL Definitions -- ughl-20200630_def                XML    117K 
 7: EX-101.LAB  XBRL Labels -- ughl-20200630_lab                     XML    375K 
 9: EX-101.PRE  XBRL Presentations -- ughl-20200630_pre              XML    299K 
 6: EX-101.SCH  XBRL Schema -- ughl-20200630                         XSD     72K 
47: JSON        XBRL Instance as JSON Data -- MetaLinks              129±   180K 
48: ZIP         XBRL Zipped Folder -- 0001640334-20-001936-xbrl      Zip     73K 


‘XML’   —   XBRL Instance — ughl_10q_htm


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<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 1 – ORGANIZATION, DESCRIPTION OF BUSINESS, AND GOING CONCERN</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">UNION BRIDGE HOLDINGS LIMITED (the “Company”) was incorporated under the laws of the State of Nevada on May 6, 2014. The Company’s principal business activities are as described below in “Recent Developments”.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Recent Developments</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company incorporated two new wholly owned subsidiaries in the British Virgin Islands: 1.) Phoenix Creation Global Limited (“PC”) on October 26, 2017 and 2.) Windsor Honour Limited (“WH”) on October 30, 2017, respectively. These subsidiaries were formed with the intent to sell healthcare products and services to seniors and individual with disabilities. The Company recently procured samples of motorized wheelchairs, as the first product in an expected portfolio of products targeted at this market.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On February 2, 2018, the Company’s subsidiary Union Beam Investment Limited (“UB”) established Qianhai Lianqiao Investment Consulting (Shenzhen) Company Limited, renamed as Union Beam Trading (Shenzhen) Limited (“UB Trading”), a wholly foreign owned entity in the People’s Republic of China (“PRC”), to engage in the sale of healthcare products and services.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On February 13, 2018, the Company’s subsidiary PC established Union Care Investment Limited (“UC”) in Hong Kong, to engage in the provision of senior care services.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On May 25, 2018, UC established Sino Silver (Qianhai) Holdings Ltd. (“Sino Silver Qianhai”), a wholly owned entity in the PRC, to engage in the provision of elderly home care services, to establish senior care centers and to provide community services. As of December 31, 2019, UC is ready to be engaged in the business activities of the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On September 20, 2018, Sino Silver Qianhai established Sino Sliver (Beijing) Elderly Service Ltd. (“Sino Silver Beijing”) in the PRC, to engage in the provision of elderly home care services, to establish senior care centers and to provide community services in Beijing region.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On December 27, 2018, the Company’s subsidiary UC established Sino Silver (Zhuhai Hengqin) Elderly Service Limited (“Sino Silver Zhuhai”), a wholly owned entity in the PRC engaging the elderly home care services, senior care centers and community services.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On September 24, 2019, the Company entered into a share exchange agreement (the “SEA”) with Conperin Group Inc. (“Conperin”) and Conperin’s shareholders whereby the Company issued 187,546,887 new common shares in exchange for all of the issued and outstanding common shares of Conperin, which totaled 2,500,000. Conperin is a private limited liability company, incorporated and domiciled in the British Virgin Islands. The Company and Conperin were under common control before the acquisition; therefore, the transaction has been accounted for as business combination under common control in accordance to ASC-805-50-30-5, in which the assets and liabilities of Conperin have been presented at their carrying values at the date of common control on March 12, 2019.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On March 12, 2019, Conperin established Circle YY Technologies Inc., a limited company incorporated in the British Virgin Islands (“Circle BVI”). Circle BVI’s principal business activity is investment holding.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On March 27, 2019, Conperin established Circle YY Technologies Limited, a limited company incorporated in Hong Kong (“Circle HK”). Circle HK’s principal business activity is development of website and mobile apps to promote positive communication between the elders and young people.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On September 27, 2019, Conperin established Circle YY International Inc., a limited company incorporated in the British Virgin Islands (“Circle International”). As of March 31, 2020, Circle International are ready to be engaged in the business activities of the Company.</p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Discontinued Operations</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">On November 6, 2019, the Company disposed of UB Trading, Sino Silver Qianhai and Sino Silver Beijing to unrelated parties at no consideration. On December 17, 2019, the Company disposed of Sino Silver Zhuhai to unrelated parties at no consideration. Before the disposal, the subsidiaries have minimal business activities. The Company finds no business rationale to maintain these subsidiaries.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Going Concern</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The accompanying unaudited interim consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the Company has incurred a net loss of $430,719 for the period ended June 30, 2020. As of June 30, 2020, the Company had an accumulated deficit of $2,063,705, working capital deficit of $1,725,016, and stockholders’ deficit of $1,725,016; its net cash used in operating activities for period ended June 30, 2020 was $530,979.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">These factors raise substantial doubt on the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. Management’s plan for the Company’s continued existence is dependent upon Management's ability to identify investment opportunities, develop those opportunities to generate profit; additionally, Management will need to continue to rely on certain related parties to provide funding for investment, working capital, and general corporate purposes, and management expertise to the Company at less than prevailing market rates. If Management is unable to execute its plan, the Company may become insolvent.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s controlling shareholder and Chief Executive Officer has provided a personal guarantee of loan in writing that he would provide to the Company of up to $1 million for investment and working capital purposes. Management believes this guarantee should be considered a material event in executing its overall plan described in the foregoing.</p>
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<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Basis of Presentation</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">When used in these notes, the terms “Union Bridge,” “Company,” “we,” “us” and “our” mean Union Bridge Holdings Limited and all entities included in our unaudited interim consolidated financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim consolidated financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2019, as filed with the SEC on March 10, 2020.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Basis of Consolidation</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">These financial statements include the accounts of the Company and its wholly-owned subsidiaries: First Channel Limited (“FC”), UB, PC, WH, UC, Conperin, Circle BVI, Circle HK and Circle International. These financial statements have also included the accounts of the subsidiaries previously wholly owned by the Company and have been disposed during the year, up to the date of disposal of the subsidiaries: UB Trading, Sino Silver Qianhai, Sino Silver Beijing and Sino Silver Zhuhai. All intercompany sales, purchases, balances, investments, and capital have been eliminated.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Use of Estimates</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP 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 as well as the reported amount of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Foreign Currency Translation and Re-measurement</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company translates its foreign operations to the U.S. dollar in accordance with ASC 830, “Foreign Currency Matters”, except for the translation for Hong Kong dollar, which uses a fixed rate of 0.1280. Since Hong Kong dollar is pledged to U.S. dollar, management considers any difference between the market rate and the fixed rate of 0.1280 as having no significant effect in the Company’s financial statements.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The reporting currency for the Company and its subsidiaries is the U.S. dollar. The functional currency of FC, PC, WH and UB is U.S. dollar; the functional currency of UB Trading, Sino Silver Qianhai, Sino Silver Beijing and Sino Silver Zhuhai is Chinese Renminbi (“RMB”); and the functional currencies of UC, Conperin, Circle BVI, Circle HK and Circle International is the Hong Kong dollar (“HKD”).</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s subsidiaries, whose records are not maintained in those entities’ respective functional currencies, re-measure their records into their functional currency as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Monetary assets and liabilities at exchange rates in effect at the end of each period</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Nonmonetary assets and liabilities at historical rates</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Revenue and expense items at the average rate of exchange prevailing during the period</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Gains and losses from these re-measurements were not significant and have been included in the Company’s results of operations.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s subsidiaries, whose functional currency is not the U.S. dollar, translate their records into the U.S. dollar as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Assets and liabilities at the rate of exchange in effect at the balance sheet date</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Equities at the historical rate</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Revenue and expense items at the average rate of exchange prevailing during the period</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Adjustments arising from such translations are included in accumulated other comprehensive income in shareholders’ equity.</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30,</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31,</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2020</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1436</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1448</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Inventories</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Inventories are computed using the first-in, first-out method and valued at the lower of cost or net realizable value. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are written down or written off.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Fair value of financial instruments</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The carrying value of the Company’s financial instruments: cash and cash equivalents, accounts receivable, prepaid expenses and deposits, accounts payable and accrued liabilities and amount due to a related party at their fair values because of the short-term nature of these financial instruments.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 1 : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 2 : Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 3 : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Commitments and contingencies</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.</p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Income taxes</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Hong Kong is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company conducts businesses in China and Hong Kong and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Net loss per share</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of June 30, 2020, the Company has no dilutive securities.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Related Parties</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>Revenue recognition</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company adopts ASC606 “Revenue Recognition”, and recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company derives its revenues from the rendering of computer consulting services and selling of health products. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"/><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">identify the contract with a customer;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">identify the performance obligations in the contract;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">determine the transaction price;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">allocate the transaction price to performance obligations in the contract; and</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">recognize revenue as the performance obligation is satisfied.</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
<us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_763">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, the unaudited interim consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">When used in these notes, the terms “Union Bridge,” “Company,” “we,” “us” and “our” mean Union Bridge Holdings Limited and all entities included in our unaudited interim consolidated financial statements. In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the unaudited interim consolidated financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K, for the year ended December 31, 2019, as filed with the SEC on March 10, 2020.</p>
</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
<us-gaap:ConsolidationPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_764">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">These financial statements include the accounts of the Company and its wholly-owned subsidiaries: First Channel Limited (“FC”), UB, PC, WH, UC, Conperin, Circle BVI, Circle HK and Circle International. These financial statements have also included the accounts of the subsidiaries previously wholly owned by the Company and have been disposed during the year, up to the date of disposal of the subsidiaries: UB Trading, Sino Silver Qianhai, Sino Silver Beijing and Sino Silver Zhuhai. All intercompany sales, purchases, balances, investments, and capital have been eliminated.</p>
</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="From2020-01-01to2020-06-30" id="fid_765">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of financial statements in conformity with U.S. GAAP 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 as well as the reported amount of revenues and expenses during the reporting period. Actual results could differ from these estimates.</p>
</us-gaap:UseOfEstimates>
<us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_766">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company translates its foreign operations to the U.S. dollar in accordance with ASC 830, “Foreign Currency Matters”, except for the translation for Hong Kong dollar, which uses a fixed rate of 0.1280. Since Hong Kong dollar is pledged to U.S. dollar, management considers any difference between the market rate and the fixed rate of 0.1280 as having no significant effect in the Company’s financial statements.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The reporting currency for the Company and its subsidiaries is the U.S. dollar. The functional currency of FC, PC, WH and UB is U.S. dollar; the functional currency of UB Trading, Sino Silver Qianhai, Sino Silver Beijing and Sino Silver Zhuhai is Chinese Renminbi (“RMB”); and the functional currencies of UC, Conperin, Circle BVI, Circle HK and Circle International is the Hong Kong dollar (“HKD”).</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s subsidiaries, whose records are not maintained in those entities’ respective functional currencies, re-measure their records into their functional currency as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Monetary assets and liabilities at exchange rates in effect at the end of each period</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Nonmonetary assets and liabilities at historical rates</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Revenue and expense items at the average rate of exchange prevailing during the period</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Gains and losses from these re-measurements were not significant and have been included in the Company’s results of operations.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company’s subsidiaries, whose functional currency is not the U.S. dollar, translate their records into the U.S. dollar as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Assets and liabilities at the rate of exchange in effect at the balance sheet date</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Equities at the historical rate</p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Revenue and expense items at the average rate of exchange prevailing during the period</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Adjustments arising from such translations are included in accumulated other comprehensive income in shareholders’ equity.</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30,</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31,</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2020</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1436</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1448</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
<ughl:DerivativeAverageForwardExchangeRate2 contextRef="AsOf2020-06-30" decimals="INF" id="fid_203" unitRef="Pure"> 0.1280 </ughl:DerivativeAverageForwardExchangeRate2>
<ughl:DerivativeAverageForwardExchangeRate2 contextRef="AsOf2019-12-31" decimals="INF" id="fid_204" unitRef="Pure"> 0.1280 </ughl:DerivativeAverageForwardExchangeRate2>
<us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_777">
<table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30,</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31,</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2020</strong></p></td><td><p style="margin:0px"> </p></td><td><p style="margin:0px"> </p></td><td colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1436</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average RMB: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">N/A</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1448</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Spot HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Average HKD: USD exchange rate</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;"><p style="margin:0px 0px 0px 0in">$</p></td><td style="width:9%;vertical-align:bottom;"><p style="MARGIN: 0px 0px 0px 0in; text-align:right;">0.1280</p></td><td style="width:1%;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock>
<ughl:DerivativeSpotExchangeRate contextRef="AsOf2019-12-31" decimals="INF" id="fid_198" unitRef="Pure"> 0.1436 </ughl:DerivativeSpotExchangeRate>
<us-gaap:DerivativeAverageForwardExchangeRate1 contextRef="AsOf2019-12-31" decimals="INF" id="fid_200" unitRef="Pure"> 0.1448 </us-gaap:DerivativeAverageForwardExchangeRate1>
<ughl:DerivativeSpotExchangeRate1 contextRef="AsOf2020-06-30" decimals="INF" id="fid_201" unitRef="Pure"> 0.1280 </ughl:DerivativeSpotExchangeRate1>
<ughl:DerivativeSpotExchangeRate1 contextRef="AsOf2019-12-31" decimals="INF" id="fid_202" unitRef="Pure"> 0.1280 </ughl:DerivativeSpotExchangeRate1>
<ughl:DerivativeAverageForwardExchangeRate2 contextRef="AsOf2020-06-30" decimals="INF" id="fid_205" unitRef="Pure"> 0.1280 </ughl:DerivativeAverageForwardExchangeRate2>
<ughl:DerivativeAverageForwardExchangeRate2 contextRef="AsOf2019-12-31" decimals="INF" id="fid_206" unitRef="Pure"> 0.1280 </ughl:DerivativeAverageForwardExchangeRate2>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_767">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. The Company’s bank deposits are held with large financial institutions located in Hong Kong. These deposits are not protected under FDIC; however, the Company has determined that there is no significant credit risk for these deposits and does not believe these institutions will become insolvent.</p>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<ughl:PrepaidExpensesPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_768">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company makes certain payments for general corporate purposes to service providers that render services over time. The Company amortizes these services to its results of operations over the span of time that the services are contracted. Certain prepayments that are to be delivered after one operating period to the Company have been classified as long-term prepaid expenses. Management does not believe these prepayments qualify as financial instruments that require fair value consideration and disclosure.</p>
</ughl:PrepaidExpensesPolicyTextBlock>
<us-gaap:InventoryPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_769">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Inventories are computed using the first-in, first-out method and valued at the lower of cost or net realizable value. The Company periodically reviews inventories for obsolescence and any inventories identified as obsolete are written down or written off.</p>
</us-gaap:InventoryPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="From2020-01-01to2020-06-30" id="fid_770">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The carrying value of the Company’s financial instruments: cash and cash equivalents, accounts receivable, prepaid expenses and deposits, accounts payable and accrued liabilities and amount due to a related party at their fair values because of the short-term nature of these financial instruments.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company also follows the guidance of the ASC Topic 820-10, “Fair Value Measurements and Disclosures” ("ASC 820-10"), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 1 : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 2 : Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"><p style="margin:0px"> </p></td><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Level 3 : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.</p>
</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:CommitmentsAndContingenciesPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_771">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time, that these matters will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.</p>
</us-gaap:CommitmentsAndContingenciesPolicyTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_772">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined that the Hong Kong is the Company’s major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of June 30, 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company conducts businesses in China and Hong Kong and is subject to tax in this jurisdiction. As a result of its business activities, the Company will file tax returns that are subject to examination by the foreign tax authority.</p>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_773">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company calculates net loss per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. As of June 30, 2020, the Company has no dilutive securities.</p>
</us-gaap:EarningsPerSharePolicyTextBlock>
<ughl:RelatedPartiesPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_774">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are subject to common control or common significant influence.</p>
</ughl:RelatedPartiesPolicyTextBlock>
<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_775">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company adopts ASC606 “Revenue Recognition”, and recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company derives its revenues from the rendering of computer consulting services and selling of health products. The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;font-size:10pt;width:100%"><tbody><tr style="height:15px"><td style="width:4%;"/><td style="width:4%;vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">identify the contract with a customer;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">identify the performance obligations in the contract;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">determine the transaction price;</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">allocate the transaction price to performance obligations in the contract; and</p></td></tr><tr style="height:15px"><td/><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in"><span style="font-size:14pt"></span></p></td><td style="vertical-align:top;"><p style="margin:0px">recognize revenue as the performance obligation is satisfied.</p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:RevenueRecognitionPolicyTextBlock>
<us-gaap:PriorPeriodReclassificationAdjustmentDescription contextRef="From2020-01-01to2020-06-30" id="fid_776">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">Certain amounts in the comparative financial statements have been reclassified to conform with the presentation of the financial statements of the current period.</p>
</us-gaap:PriorPeriodReclassificationAdjustmentDescription>
<us-gaap:BusinessCombinationDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_754">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 3 – BUSINESS COMBINATION</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The assets, liabilities and net asset value of Conperin and its subsidiaries as of the date of beginning of common control is as follow:</p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>March 12,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">ASSETS</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;"><strong>$</strong></td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;"><strong>-</strong></td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Current Liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 11.25pt">Accounts payable and accrued liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">8,334</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 11.25pt">Due to related parties</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">28,934</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Total Current Liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">37,268</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">TOTAL LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">37,268</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">NET LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(37,268</td><td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:BusinessCombinationDisclosureTextBlock>
<us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_778">
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>March 12,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">ASSETS</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;"><strong>$</strong></td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;"><strong>-</strong></td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Current Liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 11.25pt">Accounts payable and accrued liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">8,334</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 11.25pt">Due to related parties</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">28,934</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Total Current Liabilities</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">37,268</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">TOTAL LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">37,268</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">NET LIABILITIES</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(37,268</td><td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets contextRef="AsOf2019-03-12" decimals="0" id="fid_781" unitRef="USD"> 0 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable contextRef="AsOf2019-03-12" decimals="0" id="fid_212" unitRef="USD"> 8334 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther contextRef="AsOf2019-03-12" decimals="0" id="fid_213" unitRef="USD"> 28934 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities contextRef="AsOf2019-03-12" decimals="0" id="fid_214" unitRef="USD"> 37268 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities contextRef="AsOf2019-03-12" decimals="0" id="fid_215" unitRef="USD"> 37268 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet contextRef="AsOf2019-03-12" decimals="0" id="fid_216" unitRef="USD"> -37268 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
<us-gaap:AccountsAndNontradeReceivableTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_755">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 4 – ACCOUNTS RECEIVABLE</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">The Company has performed an analysis on all of its accounts receivable and determined that all amounts are collectible by the Company. As such, all accounts receivable are reflected as a current asset and no allowance for bad debt has been recorded as of June 30, 2020 and December 31, 2019. As at June 30, 2020 and December 31, 2019, the Company had accounts receivable of $38,462 and $0, respectively.</p>
</us-gaap:AccountsAndNontradeReceivableTextBlock>
<us-gaap:AccountsAndNotesReceivableNet contextRef="AsOf2020-06-30" decimals="0" id="fid_317" unitRef="USD"> 38462 </us-gaap:AccountsAndNotesReceivableNet>
<us-gaap:AccountsAndNotesReceivableNet contextRef="AsOf2019-12-31" decimals="0" id="fid_318" unitRef="USD"> 0 </us-gaap:AccountsAndNotesReceivableNet>
<ughl:PrepaidExpensesAndDepositsTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_756">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 5 – PREPAID EXPENSES AND DEPOSITS</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Prepaid expenses</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">12,000</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">12,000</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Deposits for platform design</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">129,795</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">111,846</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Sundry deposits</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">11,266</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">11,266</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">153,061</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">135,112</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</ughl:PrepaidExpensesAndDepositsTextBlock>
<ughl:PrepaidExpensesAndDepositsTableTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_779">
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>June 30,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31,</strong></p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="white-space: nowrap;"><p style="margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Prepaid expenses</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">12,000</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">12,000</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Deposits for platform design</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">129,795</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">111,846</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="margin:0px 0px 0px 0in">Sundry deposits</p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">11,266</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">11,266</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">153,061</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">135,112</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</ughl:PrepaidExpensesAndDepositsTableTextBlock>
<us-gaap:PrepaidExpenseCurrent contextRef="AsOf2020-06-30" decimals="0" id="fid_217" unitRef="USD"> 12000 </us-gaap:PrepaidExpenseCurrent>
<us-gaap:PrepaidExpenseCurrent contextRef="AsOf2019-12-31" decimals="0" id="fid_218" unitRef="USD"> 12000 </us-gaap:PrepaidExpenseCurrent>
<ughl:PlatformDesignDeposits contextRef="AsOf2020-06-30" decimals="0" id="fid_219" unitRef="USD"> 129795 </ughl:PlatformDesignDeposits>
<ughl:PlatformDesignDeposits contextRef="AsOf2019-12-31" decimals="0" id="fid_220" unitRef="USD"> 111846 </ughl:PlatformDesignDeposits>
<us-gaap:OtherAssets contextRef="AsOf2020-06-30" decimals="0" id="fid_221" unitRef="USD"> 11266 </us-gaap:OtherAssets>
<us-gaap:OtherAssets contextRef="AsOf2019-12-31" decimals="0" id="fid_224" unitRef="USD"> 11266 </us-gaap:OtherAssets>
<us-gaap:PrepaidExpenseAndOtherAssets contextRef="AsOf2020-06-30" decimals="0" id="fid_225" unitRef="USD"> 153061 </us-gaap:PrepaidExpenseAndOtherAssets>
<us-gaap:PrepaidExpenseAndOtherAssets contextRef="AsOf2019-12-31" decimals="0" id="fid_226" unitRef="USD"> 135112 </us-gaap:PrepaidExpenseAndOtherAssets>
<us-gaap:InventoryDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_757">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 6 – INVENTORIES</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">$9,831 and $118,374 of the inventories of $128,205 as of June 30, 2020 is finished clothing goods and finished surgical masks, respectively. There are no inventory write-offs made as of June 30, 2020.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0in; text-align:justify;">All of the inventories of $30,715 as of December 31, 2019 is finished clothing goods. There are no inventory write-offs made as of December 31, 2019.</p>
</us-gaap:InventoryDisclosureTextBlock>
<us-gaap:InventoryFinishedGoods contextRef="AsOf2020-06-30_ughl_ClothingGoodsMember" decimals="0" id="fid_325" unitRef="USD"> 9831 </us-gaap:InventoryFinishedGoods>
<us-gaap:InventoryFinishedGoods contextRef="AsOf2020-06-30_ughl_SurgicalMasksMember" decimals="0" id="fid_324" unitRef="USD"> 118374 </us-gaap:InventoryFinishedGoods>
<us-gaap:InventoryNet contextRef="AsOf2020-06-30" decimals="0" id="fid_323" unitRef="USD"> 128205 </us-gaap:InventoryNet>
<us-gaap:InventoryNet contextRef="AsOf2019-12-31" decimals="0" id="fid_326" unitRef="USD"> 30715 </us-gaap:InventoryNet>
<us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_758">
<p style="MARGIN: 0px 0px 0px 0in; text-align:justify;"><strong>NOTE 7 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">June 30,</strong></p></td><td style="white-space: nowrap;"/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">December 31,</strong></p></td><td style="white-space: nowrap;"/></tr><tr style="height:15px"><td/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"/></tr><tr style="height:15px;background-color:#cceeff"><td>Accounts payable</td><td style="width:1%;white-space: nowrap;"/><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"/><td style="width:1%;white-space: nowrap;"/><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">55,015</td><td style="width:1%;white-space: nowrap;"/></tr><tr style="height:15px;background-color:#ffffff"><td>Accrued charges</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">348,276</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">239,620</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">348,276</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">294,635</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
<us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_780">
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="margin:0px"> </p></td><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">June 30,</strong></p></td><td style="white-space: nowrap;"/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">December 31,</strong></p></td><td style="white-space: nowrap;"/></tr><tr style="height:15px"><td/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"/><td style="white-space: nowrap;"/><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;"><p style="MARGIN: 0px; text-align:center;"><strong style="FONT-SIZE: 13px; FONT-FAMILY: "times new roman"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial">2019</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"/></tr><tr style="height:15px;background-color:#cceeff"><td>Accounts payable</td><td style="width:1%;white-space: nowrap;"/><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"/><td style="width:1%;white-space: nowrap;"/><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">55,015</td><td style="width:1%;white-space: nowrap;"/></tr><tr style="height:15px;background-color:#ffffff"><td>Accrued charges</td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">348,276</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">239,620</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">348,276</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">294,635</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="margin:0px"> </p></td></tr></tbody></table><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/><p style="margin:0px"/>
</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
<us-gaap:AccountsPayableCurrent contextRef="AsOf2020-06-30" decimals="0" id="fid_228" unitRef="USD"> 0 </us-gaap:AccountsPayableCurrent>
<us-gaap:AccountsPayableCurrent contextRef="AsOf2019-12-31" decimals="0" id="fid_229" unitRef="USD"> 55015 </us-gaap:AccountsPayableCurrent>
<us-gaap:AccruedLiabilitiesCurrent contextRef="AsOf2020-06-30" decimals="0" id="fid_230" unitRef="USD"> 348276 </us-gaap:AccruedLiabilitiesCurrent>
<us-gaap:AccruedLiabilitiesCurrent contextRef="AsOf2019-12-31" decimals="0" id="fid_231" unitRef="USD"> 239620 </us-gaap:AccruedLiabilitiesCurrent>
<us-gaap:AccountsPayableOtherCurrent contextRef="AsOf2020-06-30" decimals="0" id="fid_232" unitRef="USD"> 348276 </us-gaap:AccountsPayableOtherCurrent>
<us-gaap:AccountsPayableOtherCurrent contextRef="AsOf2019-12-31" decimals="0" id="fid_233" unitRef="USD"> 294635 </us-gaap:AccountsPayableOtherCurrent>
<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_759">
<p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;"><strong>NOTE 8 - RELATED-PARTY TRANSACTIONS</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">For the periods ended June 30, 2020 and 2019, the Company received advances of $570,024 and $79,439 from the Company’s director, who is also our CEO and majority shareholder, and Union Glory Gold Holdings Limited (“Union Glory”), a Company controlled by our CEO, and repaid $19,231 and $0, respectively.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">As of June 30, 2020 and December 31, 2019, the balances owed to the related parties totaled $1,738,621 and $1,187,828, respectively.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">For the periods ended June 30, 2020 and 2019, the Company has provided computer services to Union Glory Gold Holdings Limited and earned a service income of $0 and $43,419, respectively. Union Glory Gold Holdings Limited is under the control by the major shareholder of the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">On September 24, 2019, the Company entered into a share exchange agreement (the “SEA”) with Conperin Group Inc. (“Conperin”) and Conperin’s shareholders whereby the Company issued 187,546,887 new common shares in exchange for all of the issued and outstanding common shares of Conperin, which totaled 2,500,000. Conperin is a private limited liability company, incorporated and domiciled in the British Virgin Islands. The Company and Conperin were under common control before the acquisition. Among the 187,546,887 new common shares, 131,282,821 shares were issued to our CEO and Director of the Company, and 56,264,066 shares were issued to a Director of the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">On November 6, 2019, the Company disposed of UB Trading, Sino Silver Qianhai and Sino Silver Beijing to unrelated parties at no consideration. On December 17, 2019, the Company disposed of Sino Silver Zhuhai to unrelated parties at no consideration. The Company’s director, who is also our CEO and majority shareholder, and Union Glory Gold Holdings Limited have agreed not to require the Company to repay the amounts due to them by the disposed subsidiaries and the Company recorded debt forgiveness of $97,542 as additional paid in capital. Loss on disposal of the subsidiaries have been charged to the consolidated statements of operations and comprehensive loss.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">The Company’s principal executive offices are located in Hong Kong. The office premises were provided by Company’s controlled by our CEO at no charge to the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">The Company is subject to the risk that if the related parties do not continue to provide services and advances to fund the company’s operations or expansion, or if those related parties demand immediate repayment, the Company may become insolvent.</p>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2020-01-01to2020-06-30_srt_DirectorMember" decimals="0" id="fid_527" unitRef="USD"> 570024 </us-gaap:ProceedsFromRelatedPartyDebt>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2019-01-01to2019-06-30_srt_DirectorMember" decimals="0" id="fid_528" unitRef="USD"> 79439 </us-gaap:ProceedsFromRelatedPartyDebt>
<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2020-01-01to2020-06-30_srt_DirectorMember" decimals="0" id="fid_525" unitRef="USD"> 19231 </us-gaap:RepaymentsOfRelatedPartyDebt>
<us-gaap:RepaymentsOfRelatedPartyDebt contextRef="From2019-01-01to2019-06-30_srt_DirectorMember" decimals="0" id="fid_526" unitRef="USD"> 0 </us-gaap:RepaymentsOfRelatedPartyDebt>
<us-gaap:DueToRelatedPartiesCurrent contextRef="AsOf2020-06-30" decimals="0" id="fid_457" unitRef="USD"> 1738621 </us-gaap:DueToRelatedPartiesCurrent>
<us-gaap:DueToRelatedPartiesCurrent contextRef="AsOf2019-12-31" decimals="0" id="fid_458" unitRef="USD"> 1187828 </us-gaap:DueToRelatedPartiesCurrent>
<us-gaap:RevenueFromRelatedParties contextRef="From2020-01-01to2020-06-30" decimals="0" id="fid_455" unitRef="USD"> 0 </us-gaap:RevenueFromRelatedParties>
<us-gaap:RevenueFromRelatedParties contextRef="From2019-01-01to2019-06-30" decimals="0" id="fid_456" unitRef="USD"> 43419 </us-gaap:RevenueFromRelatedParties>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2019-09-01to2019-09-24_ughl_ConperinGroupIncMember_ughl_ShareExchangeAgreementMember" decimals="INF" id="fid_454" unitRef="Shares"> 187546887 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:CommonStockSharesIssued contextRef="AsOf2019-09-24_ughl_ConperinGroupIncMember" decimals="INF" id="fid_450" unitRef="Shares"> 2500000 </us-gaap:CommonStockSharesIssued>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2019-09-01to2019-09-24_srt_ChiefExecutiveOfficerMember_ughl_ShareExchangeAgreementMember" decimals="INF" id="fid_453" unitRef="Shares"> 131282821 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="From2019-09-01to2019-09-24_srt_DirectorMember_ughl_ShareExchangeAgreementMember" decimals="INF" id="fid_452" unitRef="Shares"> 56264066 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<ughl:DebtForgivenessByRelatedParties contextRef="From2019-11-16to2019-12-17" decimals="0" id="fid_449" unitRef="USD"> 97542 </ughl:DebtForgivenessByRelatedParties>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_760">
<p style="MARGIN: 0px 0px 0px 0.7pt; text-align:justify;"><strong>NOTE 9 - STOCKHOLDERS’ DEFICIT</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.7pt; text-align:justify;">The Company is authorized to issue up to 1,000,000,000 shares of Common Stock, par value $0.001 per share, and 20,000,000 of Preferred Stock, par value $0.001 per share.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.7pt; text-align:justify;"><span style="text-decoration:underline">Common stock</span></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.7pt; text-align:justify;">During the period ended June 30, 2020, the Company has issued no Common Stock.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.7pt; text-align:justify;">As of June 30, 2020 and December 31, 2019, 241,146,887 shares of Common Stock were issued and outstanding.</p>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:CommonStockSharesAuthorized contextRef="AsOf2020-06-30" decimals="INF" id="fid_288" unitRef="Shares"> 1000000000 </us-gaap:CommonStockSharesAuthorized>
<us-gaap:CommonStockParOrStatedValuePerShare contextRef="AsOf2020-06-30" decimals="3" id="fid_290" unitRef="USDPShares"> 0.001 </us-gaap:CommonStockParOrStatedValuePerShare>
<us-gaap:PreferredStockSharesAuthorized contextRef="AsOf2020-06-30" decimals="INF" id="fid_292" unitRef="Shares"> 20000000 </us-gaap:PreferredStockSharesAuthorized>
<us-gaap:PreferredStockParOrStatedValuePerShare contextRef="AsOf2020-06-30" decimals="3" id="fid_294" unitRef="USDPShares"> 0.001 </us-gaap:PreferredStockParOrStatedValuePerShare>
<us-gaap:CommonStockSharesIssued contextRef="AsOf2020-06-30" decimals="INF" id="fid_298" unitRef="Shares"> 241146887 </us-gaap:CommonStockSharesIssued>
<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="From2020-01-01to2020-06-30" id="fid_761">
<p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;"><strong>NOTE 10 – CONCENTRATION RISK</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">As of June 30, 2020, 100% of the accounts receivable of $38,462 was due from a single client, who is unrelated to the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">During the period ended June 30, 2020, 99% of the revenue of $95,885 was received from three clients, who are unrelated to the Company.</p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">During the period ended June 30, 2019, 100% of the revenue of $43,419 was received from a single client, who is a related party to the Company (Note 8).</p>
</us-gaap:ConcentrationRiskDisclosureTextBlock>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2020-01-01to2020-06-30_us-gaap_AccountsReceivableMember" decimals="INF" id="fid_307" unitRef="Pure"> 100 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:AccountsReceivableNet contextRef="AsOf2020-06-30_us-gaap_AccountsReceivableMember" decimals="0" id="fid_783" unitRef="USD"> 38462 </us-gaap:AccountsReceivableNet>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2020-01-01to2020-06-30_ughl_RevenuesMember" decimals="INF" id="fid_530" unitRef="Pure"> 99 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="From2020-01-01to2020-06-30_ughl_RevenuesMember" decimals="0" id="fid_311" unitRef="USD"> 95885 </us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2019-01-01to2019-06-30_ughl_RevenuesMember" decimals="INF" id="fid_785" unitRef="Pure"> 100 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="From2019-01-01to2019-06-30_ughl_RevenuesMember" decimals="0" id="fid_786" unitRef="USD"> 43419 </us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
<us-gaap:SubsequentEventsTextBlock contextRef="From2020-04-01to2020-06-30" id="fid_762">
<p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;"><strong>NOTE 11 - SUBSEQUENT EVENTS</strong></p><p style="MARGIN: 0px; text-align:justify;"> </p><p style="MARGIN: 0px 0px 0px 0.35pt; text-align:justify;">In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred after June 30, 2020, up through the date the Company issued the financial statements. During the period, the Company did not have any material recognizable subsequent events. </p>
</us-gaap:SubsequentEventsTextBlock>
</xbrl>

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