Executive Summary / Key Takeaways

• Strategic Pivot Underway: OZ Vision Inc. (UNXP) is undergoing a significant, high-risk strategic pivot, transitioning from a struggling transportation and logistics business to an unproven combat sports event promotion venture, leveraging recently acquired unique assets.
• Severe Financial Distress: The company faces critical financial challenges, evidenced by a mere $52 cash balance, a $2.62 million accumulated deficit, and a "going concern" warning as of June 30, 2025, necessitating substantial external financing for future operations.
• Unproven MMA Business Model: While the company possesses a Nevada Professional Promoter license and lifetime broadcast rights for 40 shows, it has no operating history in combat sports, making the success of this new business model highly speculative and difficult to forecast.
• Intense Competitive Landscape: Both the legacy logistics and the nascent MMA promotion segments are highly competitive, with UNXP facing significantly larger, better-resourced rivals, which could impede its ability to gain market share and achieve profitability.
• Significant Dilution Risk: To fund its ambitious pivot and ongoing operational costs, UNXP will likely require substantial equity or debt financing, posing a considerable risk of dilution for existing shareholders.

A Company in Transition: From Logistics Lulls to MMA Ambitions

OZ Vision Inc., formerly United Express Inc., began its journey on June 23, 2017, as a transportation and logistics provider, offering dispatch and hauling services for merchandise across the United States. This initial phase of operations was characterized by limited scale and a heavy reliance on a small customer base, which consistently raised concerns about the stability of its revenue streams. The company's financial performance in this segment reflected these challenges, with revenues declining sharply from $240,717 in the fiscal year ended June 30, 2024, to just $54,232 in the fiscal year ended June 30, 2025. This downturn culminated in a gross loss of $460 for the most recent fiscal year, underscoring the difficulties in its legacy business.

Recognizing the limitations and competitive pressures within its initial market, OZ Vision embarked on a transformative strategic pivot. On September 21, 2023, the company acquired critical assets from Jebour Two Limited, through its subsidiary Fighting Leagues LV. This acquisition signaled a bold new direction: entering the rapidly growing combat sports event promotion industry. The assets obtained are foundational to this new strategy, including a Nevada State Athletic Commission Professional Promoter license, which uniquely permits the company to produce live Kickboxing, Boxing, and MMA shows in Nevada. Additionally, the acquisition included perpetual and worldwide Producers Lifetime rights for 40 shows previously held by Fighting Leagues, encompassing broadcast TV and production rights, along with necessary production and stage equipment.

This strategic shift positions OZ Vision to tap into the burgeoning mixed martial arts market, which is recognized as one of the fastest-growing sports globally. The company envisions generating revenue through sponsorships, ticket sales, broadcast rights, and ancillary activities from live events. However, as of the 10-K filing on October 15, 2025, OZ Vision had not yet commenced any business operations utilizing these newly acquired Fighting Leagues assets, indicating that the pivot is still in its very early stages of execution. The company anticipates commencing the use of its acquired production and stage equipment in the quarter ending June 30, 2026.

Operational Differentiators and the Unproven Path Ahead

OZ Vision's competitive differentiation in its new combat sports venture hinges not on proprietary technological innovation in the traditional sense, but on the unique operational assets it has acquired. The Nevada State Athletic Commission Professional Promoter license is a significant barrier to entry, granting the company the exclusive right to produce live combat sports events in a key market. Coupled with the worldwide and perpetual Producers Lifetime rights for 40 shows, these assets provide a substantial platform for content creation and distribution. The acquired production and stage equipment further support this capability, offering the necessary infrastructure for event execution.

While these assets are strategic enablers, the company has not disclosed any specific technological advancements, R&D initiatives, or quantifiable performance metrics related to its operational execution in either logistics or the planned MMA business. The company relies on third-party software applications, IT systems, and cloud service providers for its operations, and it does not implement industry standards for cybersecurity or maintain a cyber incident reporting process. This reliance on external systems and a lack of internal cybersecurity governance presents a notable operational risk. The "so what" for investors is that while the acquired rights and licenses offer a unique entry point into a high-growth market, the absence of proprietary technological moats or a proven operational model for event promotion introduces considerable execution risk.

Financial Performance and the Looming Liquidity Crisis

OZ Vision's financial health presents a stark picture of an entity in critical need of capital. For the fiscal year ended June 30, 2025, the company reported total revenues of $54,232, a substantial decline from $240,717 in the prior year. This revenue was entirely derived from its transportation and logistics segment, which has historically been dependent on a limited number of customers. The company recorded a gross loss of $460 for the year. Despite the revenue contraction, the net loss decreased significantly from $2.48 million in 2024 to $65,601 in 2025. This improvement, however, was primarily attributable to a reduction in advisory and consultancy fees (which were $2.17 million in 2024) and the absence of a $447,792 production equipment theft loss that impacted the 2024 financials. Operating expenses in 2025, totaling $65,141, were largely driven by occupancy costs and professional fees associated with being a public company.

The company's liquidity position is precarious. As of June 30, 2025, OZ Vision held a mere $52 in cash and cash equivalents.

It also reported an accumulated deficit of $2.62 million and a negative working capital of $1.14 million. These factors collectively raise "substantial doubt about the Company’s ability to continue as a going concern." Management explicitly states that current revenues are insufficient to meet projected expenses and that additional financing will be required through equity or debt. Such future capital may not be available on favorable terms and could be "substantially dilutive to our existing stockholders." A failure to secure adequate funding could lead to a "cash shortage which would disrupt our operations, have a material adverse effect on our financial condition or business prospects and could result in insolvency."

Navigating a Highly Competitive Landscape

OZ Vision operates within two distinct, yet intensely competitive, industry segments. In its legacy transportation and logistics business, the market is fragmented, characterized by the presence of large national and regional carriers such as UPS (UPS), FedEx (FDX), XPO Logistics (XPO), and JB Hunt Transport Services (JBHT), alongside numerous smaller independent operators. These larger competitors possess significantly greater financial, technical, and marketing resources. While UNXP aims to compete by developing features that exceed rivals' offerings, its limited resources and regional focus make it vulnerable to price competition and the risk of higher operational expenses compared to its scaled counterparts. The company's dependence on a small customer base further exacerbates its competitive fragility, as customer churn due to potential delivery errors or higher costs could severely impact its revenue.

The planned entry into combat sports event promotion places OZ Vision in another highly competitive and rapidly evolving market. Here, it will contend with established professional and collegiate sports leagues, as well as other forms of live and televised entertainment. Many potential competitors in this space also command significantly greater financial resources and marketplace presence. The success of UNXP's MMA venture will hinge on its ability to create popular and entertaining events, build brand recognition, expand its fan base, and secure favorable broadcast and distribution relationships—all formidable challenges for an entity with no prior operating history in this domain. A decline in the popularity of mixed martial arts or adverse changes in the social and political climate could also significantly impact its prospects.

Risks and the Path Forward

The investment thesis for OZ Vision is fraught with considerable risks. The company's status as an "emerging growth company with limited historical performance" means there is little basis to evaluate its future profitability. The unproven nature of its MMA business model is a primary concern; there are "no assurances or guarantees that this form of entertainment will be successful" for the company. Furthermore, the MMA industry's rapid evolution may not align with UNXP's business model.

Operational risks include the potential for inadequate insurance coverage for injuries in physically demanding MMA events, the difficulty in forecasting revenues and expenses due to limited operating history, and the risk of intellectual property infringement. The theft of $447,792 in production equipment in December 2023 highlights vulnerabilities in asset management. Governance and internal control weaknesses are also noted, with management identifying a "material weakness in our disclosure controls and procedures and in our internal control over financial reporting due to insufficient resources in the accounting and finance department."

From a capital markets perspective, the company's common stock trades on the OTCID Tier and is considered a "penny stock," which can limit liquidity and make it difficult for investors to sell shares. The substantial control held by insiders (approximately 72% of outstanding common stock) could also limit the influence of minority shareholders. The anticipated need for future equity offerings carries a significant risk of "substantial dilution to our existing stockholders."

Management's plan to pivot to mixed martial arts events represents a strategic attempt to find a viable path to growth and profitability. However, the success of this pivot is highly uncertain, and the company's ability to secure the necessary financing to execute this strategy and cover ongoing public company operating costs (estimated at $40,000-$70,000 annually) remains a critical determinant of its survival.

Conclusion

OZ Vision Inc. stands at a pivotal juncture, attempting a radical transformation from a struggling logistics provider to a combat sports promoter. The acquisition of a Nevada Professional Promoter license and worldwide broadcast rights provides a unique foundation for this new venture in a high-growth market. However, the company's severe financial distress, characterized by minimal cash reserves, persistent losses, and a "going concern" warning, casts a long shadow over its prospects.

The investment in UNXP is, at present, a highly speculative bet on the successful execution of an unproven business model in a fiercely competitive industry. While the strategic assets acquired offer a potential pathway to new revenue streams, the absence of a track record in event promotion, coupled with significant liquidity challenges and the inherent risks of a penny stock, demands extreme caution from investors. The company's future hinges entirely on its ability to secure substantial financing and demonstrate a clear, profitable operational model for its combat sports events, transforming its ambitious vision into tangible financial results.