HBUV Hubilu Venture Corporation (PK)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended: June 30, 2024

 

OR

 

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from __________ to __________

 

Commission File No. 000-55611

 

Hubilu Venture Corporation

(Exact Name of Registrant as Specified in its Charter)

 

Delaware		47-3342387
(State or other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)
205 South Beverly Drive, Suite 205 Beverly Hills, CA		90212
(Address of Principal Executive Offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (310) 308-7887

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§230.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

 

Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated file,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

	Large accelerated filer ☐		Accelerated filer ☐
	Non-accelerated filer ☒		Smaller reporting company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes ☐ No ☒

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		HBUV		OTC Pink

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of August 19, 2024 the number of shares outstanding of the issuer’s sole class of common stock, $0.001 par value per share, is 26,237,125.

 

 

 

TABLE OF CONTENTS

 

PART I – FINANCIAL INFORMATION	3
Item 1. Financial Statements	3
Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023	3
Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)	4
Condensed Consolidated Statements of Changes in Stockholders’ Equity (Deficit) for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)	5
Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited)	6
Notes to Condensed Consolidated Financial Statements (Unaudited)	7
Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations	15
Item 3. Quantitative and Qualitative Disclosures about Market Risk	21
Item 4. Controls and Procedures	21
PART II — OTHER INFORMATION	22
Item 1. Legal Proceedings	22
Item 1A. Risk Factors	22
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3. Defaults Upon Senior Securities	22
Item 4. Mine Safety Disclosures	22
Item 5. Other Information	22
Item 6. Exhibits	23
SIGNATURES	24

 

 

Part I – FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

 

		June 30,				December 31,
		2024				2023
		(Unaudited)
ASSETS
Current assets:
Cash		$	135,798			$	24,564
Accounts receivable			12,830				2,100
Prepaid expenses			493				9,500
Total current assets			149,121				36,164
Real estate:
Land			12,933,049				11,800,304
Building and capital improvements			6,508,628				5,458,695
Property acquisition and financing			423,477				296,463
Less: accumulated depreciation			(857,479	)			(762,406	)
Total real estate, net			19,007,675				16,793,056
Security deposits			31,600				6,600
Total assets		$	19,188,396			$	16,835,820
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable		$	45,655			$	21,250
Advanced rents received			4,774				10,124
Accrued interest			64,421				39,402
Security deposits payable			295,060				300,383
Due to related party, current maturities			474,271				474,271
Mortgages payable, current maturities			2,210,810				768,961
Dividends payable			192,401				179,463
Total current liabilities			3,287,392				1,793,854
Mortgages payable, related party			599,594				599,594
Mortgages payable			15,981,687				15,104,744
Convertible preferred stock payable			520,400				520,400
Total liabilities			20,389,073				18,018,592
Stockholders’ equity (deficit):
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,237,125 shares issued and outstanding			26,237				26,237
Additional paid-in capital			956,726				911,894
Accumulated deficit			(2,183,640	)			(2,120,903	)
Total stockholders’ equity (deficit)			(1,200,677	)			(1,182,772	)
Total liabilities and stockholders’ equity (deficit)		$	19,188,396			$	16,835,820

 

See accompanying notes to financial statements.

 

 

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

		2024				2023				2024				2023
		For the Three Months Ended								For the Six Months Ended
		June 30,								June 30,
		2024				2023				2024				2023
Rental revenue		$	531,081			$	426,098			$	1,050,059			$	834,936
Operating expenses:
General and administrative			42,409				8,857				95,972				36,552
Salaries and benefits			19,600				15,700				34,000				31,600
Utilities			3,702				8,485				18,548				25,885
Professional fees			49,583				35,756				74,300				54,556
Property taxes			55,182				49,815				99,542				91,361
Repairs and maintenance			35,672				-				105,788				-
Depreciation			54,993				56,982				95,073				113,004
Total operating expenses			261,141				175,595				523,223				352,958
Net operating income			269,940				250,503				526,836				481,978
Other income (expense):
Dividends expense			(6,469	)			(6,469	)			(12,938	)			(12,867	)
Interest expense			(265,337	)			(242,395	)			(513,232	)			(471,199	)
Loss on early extinguishment of debt			(55,656	)			-				(63,403	)			-
Total other income (expense)			(327,462	)			(248,864	)			(589,573	)			(484,066	)
Net income (loss)		$	(57,522	)		$	1,639			$	(62,737	)		$	(2,088	)
Weighted average common shares outstanding - basic			26,237,125				26,237,125				26,237,125				26,237,125
Net loss per common share - basic		$	(0.00	)		$	0.00			$	(0.00	)		$	(0.00	)
Weighted average common shares outstanding - diluted			26,237,125				26,346,409				26,237,125				26,237,125
Net loss per common share - diluted		$	(0.00	)		$	0.00			$	(0.00	)		$	(0.00	)

 

See accompanying notes to financial statements.

 

 

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

(Unaudited)

 

		Shares				Amount				Capital				Deficit				Deficit
		For the Three Months Ended June 30, 2024
										Additional								Total
		Common Stock								Paid-In				Accumulated				Stockholders’
		Shares				Amount				Capital				Deficit				Deficit
Balance, March 31, 2024			26,237,125			$	26,237			$	934,310			$	(2,126,118	)		$	(1,165,571	)
Imputed interest			-				-				22,416				-				22,416
Net loss			-				-				-				(57,522	)			(57,522	)
Balance, June 30, 2024			26,237,125			$	26,237			$	956,726			$	(2,183,640	)		$	(1,200,677	)

 

		For the Three Months Ended June 30, 2023
										Additional								Total
		Common Stock								Paid-In				Accumulated				Stockholders’
		Shares				Amount				Capital				Deficit				Deficit
Balance, March 31, 2023			26,237,125			$	26,237			$	834,914			$	(1,849,298	)		$	(988,147	)
Imputed interest			-				-				13,076				-				13,076
Net income			-				-				-				1,639				1,639
Balance, June 30, 2023			26,237,125			$	26,237			$	847,990			$	(1,847,659	)		$	(973,432	)

 

		For the Six Months Ended June 30, 2024
										Additional								Total
		Common Stock								Paid-In				Accumulated				Stockholders’
		Shares				Amount				Capital				Deficit				Deficit
Balance, December 31, 2023			26,237,125			$	26,237			$	911,894			$	(2,120,903	)		$	(1,182,772	)
Imputed interest			-				-				44,832				-				44,832
Net loss			-				-				-				(62,737	)			(62,737	)
Balance, June 30, 2024			26,237,125			$	26,237			$	956,726			$	(2,183,640	)		$	(1,200,677	)

 

		For the Six Months Ended June 30, 2023
										Additional								Total
		Common Stock								Paid-In				Accumulated				Stockholders’
		Shares				Amount				Capital				Deficit				Deficit
Balance, December 31, 2022 (Revised)			26,237,125			$	26,237			$	821,981			$	(1,845,571	)		$	(997,353	)
Balance			26,237,125			$	26,237			$	821,981			$	(1,845,571	)		$	(997,353	)
Imputed interest			-				-				26,009				-				26,009
Net loss			-				-				-				(2,088	)			(2,088	)
Net income (loss)			-				-				-				(2,088	)			(2,088	)
Balance, June 30, 2023			26,237,125			$	26,237			$	847,990			$	(1,847,659	)		$	(973,432	)
Balance			26,237,125			$	26,237			$	847,990			$	(1,847,659	)		$	(973,432	)

 

See accompanying notes to financial statements.

 

 

HUBILU VENTURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

		2024				2023
		For the Six Months Ended
		June 30,
		2024				2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss		$	(62,737	)		$	(2,088	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation			95,073				113,004
Imputed interest			44,832				26,009
Cumulative preferred stock dividends payable			12,938				12,867
Loss on early extinguishment of debt			63,403				-
Decrease (increase) in current assets:
Accounts receivable			(10,730	)			-
Prepaid expenses			9,007				-
Security deposits			(25,000	)			-
Increase (decrease) in current liabilities:
Accounts payable			24,405				-
Advanced rents received			(5,350	)			14,375
Accrued expenses			25,019				1,547
Security deposits payable			(5,323	)			29,010
Net cash provided by operating activities			165,537				194,724
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment			(487,792	)			(222,434	)
Net cash used in investing activities			(487,792	)			(222,434	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received from mortgages payable			530,000				102,100
Repayments on mortgages payable			(96,511	)			(134,866	)
Net cash provided by (used in) financing activities			433,489				(32,766	)
NET CHANGE IN CASH AND CASH EQUIVALENTS			111,234				(60,476	)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			24,564				92,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$	135,798			$	31,592
SUPPLEMENTAL INFORMATION:
Interest paid		$	445,243			$	443,643
Income taxes paid		$	-			$	-
Non-cash investing and financing transactions:
Acquisition of properties financed with debt		$	1,821,900			$	-

 

See accompanying notes to financial statements.

 

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Note 1 – Nature of Business and Significant Accounting Policies

 

Nature of Business

 

Hubilu Venture Corporation (“the Company,” “we,” “our” or “us”) was incorporated under the laws of the state of Delaware on March 2, 2015 and is a real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing and corporate income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.

 

Basis of Presentation

 

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC). Intercompany accounts and transactions have been eliminated.

 

The unaudited condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with GAAP and do not contain certain information included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.

 

Principles of Consolidation

 

The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at June 30, 2024:

 Schedule of Common Control and Ownership

		State of
Name of Entity		Incorporation			Relationship
Hubilu Venture Corporation(1)			Delaware			Parent
Akebia Investments, LLC(2)			Wyoming			Subsidiary
Boabab Investments, LLC(2)			Wyoming			Subsidiary
Elata Investments, LLC(2)			Wyoming			Subsidiary
Kapok Investments, LLC(2)			Wyoming			Subsidiary
Lantana Investments, LLC(2)			Wyoming			Subsidiary
Mopane Investments, LLC(2)			Wyoming			Subsidiary
Sunza Investments, LLC(2)			Wyoming			Subsidiary
Trilosa Investments, LLC(2)			Wyoming			Subsidiary
Zinnia Investments, LLC(2)			Wyoming			Subsidiary

 

	(1)	Holding company in the form of a corporation.
	(2)	Wholly-owned subsidiary in the form of a limited liability corporation.

 

Reclassifications

 

Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.

 

7

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Use of Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.

 

Segment Reporting

 

ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.

 

Fair Value of Financial Instruments

 

The Company discloses the fair value of certain assets and liabilities in accordance with ASC 820 – Fair Value Measurement and Disclosures (ASC 820). Under ASC 820-10-05, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company’s financial statements as reflected herein. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses reported on the balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.

 

Revenue Recognition

 

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customer. Under ASC 606, the Company recognizes revenue from leases with its various tenants under operating leases in accordance with a five-step model in which the Company evaluates the performance obligations in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

 

The Company’s sales are predominantly generated from leasing its properties to various tenants under operating leases. These sales contain a single performance obligation, and revenue is recognized on a straight-line basis using the effective interest method, based on the Company’s borrowing rate, over the life of the leases. The Company records adjustments to revenue for incidentals and move out, or janitorial reimbursements in the same period that the related revenue is recorded.

 

Basic and Diluted Loss Per Share

 

The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as if converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For the periods presented, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.

 

Recent Accounting Pronouncements

 

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.

 

Note 2 – Going Concern

 

As shown in the accompanying condensed consolidated financial statements as of June 30, 2024, our balance of cash on hand was $135,798, and we had negative working capital of $3,138,271 and an accumulated deficit of $2,183,640. The Company expects to incur further losses in the development of its business, and may not be able to generate sufficient funds to sustain our operations for the next twelve months. Accordingly, we may need to raise additional cash to fund our operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. In the event revenues do not materialize at the expected rates, management would seek additional financing and would attempt to conserve cash by further reducing expenses. There can be no assurance that we will be successful in achieving these objectives.

 

8

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

The condensed consolidated financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company’s ability to continue as a going concern. The condensed consolidated financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. Our ability to acquire new properties and increase revenues is largely dependent on our success in raising additional capital.

 

Note 3 – Significant Concentrations

 

The Company had certain customers whose revenue individually represented 10% or more of the Company’s total net revenue, or whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable, as follows:

 

For the six months ended June 30, 2024, one customer accounted for 54% and 64% of revenue for the six months ended June 30, 2024 and 2023, respectively.

 

Note 4 – Fair Value of Financial Instruments

 

Under FASB ASC 820-10-5, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under GAAP, certain assets and liabilities must be measured at fair value, and FASB ASC 820-10-50 details the disclosures that are required for items measured at fair value.

 

The Company has cash and debts that must be measured under the fair value standard. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows:

 

Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

 

Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

 

Level 3 – Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability.

 

The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balances sheet as of June 30, 2024 and December 31, 2023:

 

 Schedule of Valuation of Financial Instruments at Fair Value Recurring Basis

		Level 1				Level 2				Level 3
		Fair Value Measurements at June 30, 2024
		Level 1				Level 2				Level 3
Assets
Cash		$	135,798			$	-			$	-
Total assets			135,798				-				-
Liabilities
Due to related party			-				474,271				-
Mortgages payable, related party			-				599,594				-
Mortgages payable			-				18,192,497				-
Dividends payable			-				192,401				-
Convertible preferred stock payable			-				-				520,400
Total liabilities			-				19,458,763				520,400
Net asset (liabilities)		$	135,798			$	(19,458,763	)		$	(520,400	)

 

9

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

		Level 1				Level 2				Level 3
		Fair Value Measurements at December 31, 2023
		Level 1				Level 2				Level 3
Assets
Cash		$	24,564			$	-			$	-
Total assets			24,564				-				-
Liabilities
Due to related party			-				474,271				-
Mortgages payable, related party			-				599,594				-
Mortgages payable			-				15,873,705				-
Dividends payable			-				179,463				-
Convertible preferred stock payable			-				-				520,400
Total liabilities			-				17,127,033				520,400
Net asset (liability)		$	24,564			$	(17,127,033	)		$	(520,400	)

 

There were no transfers of financial assets or liabilities between Level 1 and Level 2 inputs for the six months ended June 30, 2024 or the year ended December 31, 2023.

 

Note 5 - Real Estate

 

Property Acquisitions

 

On June 27, 2024, we completed an acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 1457 W. 35th Street in Los Angeles (“Mopane”). The property was vacant at the time of purchase. The acquisition was for $710,000 (“Purchase Price”). Terms of the acquisition are as follows: (1) A first position note with payment on principal balance of $624,750 issued by the Property Owner, Mopane, owing to lender, Churchill Funding I, LLC, bearing interest at 10% per annum, based on a 30/360 day year. Monthly payments of interest only in the amount of $4,998 commenced on August 1, 2024, and continue until July 1, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $130,000 second position note owing by Mopane to Belladonna Lily Investments, Inc. (“Belladonna”), whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $650 or more on the 1st day of each month beginning on the 1st day of July 2024 and continuing until the 30th day of June 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.

 

On June 27, 2024, we completed another acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 1460 North Eastern Avenue in Los Angeles (“Mopane”). The property was partially vacant at time of purchase. The acquisition was for $670,000 (“Purchase Price”). Terms of the acquisition as follows: (1) A first position note with payment on principal balance of $603,000 issued by the Property Owner, Mopane, owing to lender, LendingOne, LLC, bearing interest at 10% per annum, based on a 30/360 day year. Interest only payments in monthly installments of $4,774, or more, commenced August 1, 2024, and continue until April 1, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $175,000 second position note owing by Mopane to Belladonna, whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $750 or more on the 1st day of each month beginning on the 1st day of July 2024 and continuing until the 30th day of June 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.

 

On May 8, 2024, we completed an acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 4700 S. Budlong Avenue in Los Angeles (“Mopane”). The property was vacant at time of purchase. The acquisition was for $649,000 (“Purchase Price”). Terms of the acquisition as follows: (1) A first position note with payment on principal balance of $594,150 issued by the Property Owner, Mopane, owing to lender, Center Street Lending VIII SPR, LLC, bearing interest at the rate of 10.99% per annum, based on a daily rate of 360 days per year. Payable in monthly interest only installments of $4,984 or more starting on June 1, 2024, and continuing until April 15, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $175,000 second position note owing by Mopane to Belladonna, whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $875 or more on the 1st day of each month beginning on the 1st day of May 2024 and continuing until the 31st day of March 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.

 

10

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Schedule of Real Estate

 

The Company’s real estate investments consisted of the following at June 30, 2024 and December 31, 2023:

 

Schedule of Real Estate

 

		June 30, 2024				December 31, 2023
Land		$	12,933,049			$	11,800,304
Buildings and capital improvements			6,508,628				5,458,695
Property acquisition and financing			423,477				296,463
Real estate gross			19,865,154				17,555,462
Less: accumulated depreciation			(857,479	)			(762,406	)
Total real estate, net		$	19,007,675			$	16,793,056

 

Depreciation and amortization expense totalled $95,073 and $113,004 for the six months ended June 30, 2024 and 2023, respectively.

 

Summary of Changes in Real Estate Investments

 

The change in the real estate investments is as follows for the six months ended June 30, 2024 and the year ended December 31, 2023:

 

Summary of Changes in Real Estate Property Investments

 

		Six months ended				Year ended
		June 30, 2024				December 31, 2023
Balance, prior period		$	17,555,462			$	17,555,462
Acquisitions:			2,029,000				-
Real estate investment property, at cost			19,584,462				17,555,462
Current period capital improvements and property acquisition costs			280,692				-
Balance, end of period		$	19,865,154			$	17,555,462

 

Note 6 – Security Deposits

 

Security deposits included the following as of June 30, 2024 and December 31, 2023, respectively:

 Schedule of Security Deposits

		June 30, 2024				December 31, 2023
Down payment on purchase of properties		$	25,000			$	-
Security deposits on office lease			6,600				6,600
Security deposits		$	31,600			$	6,600

 

Note 7 – Due to Related Party

 

As of June 30, 2024 and December 31, 2023, Jacaranda Investments, Inc., had provided total advances of $474,271. These advances are unsecured and do not carry a contractual interest rate or repayment terms. In connection with these advances, the Company has recorded imputed interest charges of $44,832 and $26,009 for the six months ended June 30, 2024 and 2023, respectively, which was credited to additional paid-in capital.

 

Note 8 – Mortgages Payable, Related Party

 

The Company’s mortgages payable to related parties are as follows:

 

Schedule of Mortgages Payable to Related Parties

 

		Principal balance
		June 30,				December 31,				Stated		Maturity
		2024				2023				Interest Rate		Date
2909 South Catalina Street		$	599,594			$	599,594			6.00%			April 20, 2029

 

On April 10, 2017, Esteban Coaloa loaned the Company $655,000 via an All Inclusive Trust Deed (“AITD”) as part of the purchase of 2909 S. Catalina Street, Los Angeles, California. This loan is considered a related party loan due to Esteban Coaloa’s preferred stock holdings. If converted to common stock at the current share price, the conversion would result in Mr. Coaloa owning > 5% of the Company’s outstanding common stock. This is an interest only promissory note with principal due on April 20, 2029. A total of $40,643 of accrued interest was owed and outstanding on this loan at June 30, 2024.

 

The Company recognized $17,939 and $17,988 of interest expense on notes payable for the six months ended June 30, 2024 and 2023, respectively.

 

11

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Note 9 - Mortgages Payable

 

Mortgages payable consists of the following at June 30, 2024 and December 31, 2023, respectively:

 

 Schedule of Mortgages Payable

											Interest Rate
			Principal Balance
							December 31,				Stated			Maturity
			June 30, 2024				2023				Interest Rate			Date
3711 South Western Avenue		$	643,585			$	643,585				5.00	%		December 1, 2029
3910 Walton Avenue			524,072				529,258				5.00	%		August 1, 2049
3910 Wisconsin Street			673,777				679,788				5.225	%		March 1, 2052
1557 West 29 Street			588,158				593,956				4.975	%		June 1, 2051
1267 West 38 Street			590,856				596,195				4.95	%		June 1, 2051
4016 Dalton Avenue			594,567				600,038				4.975	%		June 1, 2051
1618 West 38 Street
-First Note			473,759				477,482				6.30	%		January 1, 2050
-Second Note			150,000				150,000				6.00	%		December 10, 2025
1981 Estrella Avenue			875,917				883,908				5.225	%		June 1, 2051
717 West 42 Place
-First Note			334,567				335,167				6.85	%		November 1, 2048
-Second Note			134,968				134,968				6.85	%		April 30, 2029
2115 Portland Street			993,750				902,214				7.25	%		July 1, 2054
3906 Denker
-First Note			392,010				395,159				6.00	%		March 1, 2050
-Second Note			185,000				185,000				6.85	%		February 14, 2025
3408 Budlong
-First Note			592,771				598,527				4.875	%		December 1, 2051
-Second Note			120,000				120,000				5.00	%		November 1, 2029
3912 S. Hill Street
-First Note			492,649				496,174				6.425	%		December 1, 2050
-Second Note			152,000				152,000				6.425	%		November 1, 2026
4009 Brighton Avenue			702,028				708,367				4.875	%		November 1, 2051
3908 Denker Avenue			615,073				620,547				4.975	%		December 1, 2051
4021 Halldale Avenue			750,636				755,111				6.75	%		October 1, 2052
1284 W. 38th Street
-First Note			631,249				637,267				4.625	%		March 1, 2052
-Second Note			188,000				188,000				5.25	%		June 30, 2029
4505 Orchard Avenue			631,720				637,567				5.00	%		March 1, 2052
3777 Ruthelen Street			692,670				699,061				4.625	%		March 1, 2052
3791 S. Normandie Avenue
-First Note			601,829				606,567				5.225	%		April 1, 2052
-Second Note			150,000				150,000				5.00	%		March 1, 2029
2029 W. 41st Place			820,000				820,000				6.00	%		December 31, 2029
4517 Orchard Avenue
-First Note			467,922				471,632				5.225	%		April 1, 2052
-Second Note			158,000				158,000				5.00	%		March 1, 2029
1733 W. 37th Place
-First Note			594,064				573,167				7.225	%		April 1, 2054
-Second Note			100,000				100,000				6.00	%		May 1, 2029
4700 S. Budlong Ave
-First Note			594,150				-				10.99	%		April 15, 2025
-Second Note			175,000				-				6.00	%		March 31, 2029
1457 W. 35th Street
-First Note			624,750				-				10	%		July 1, 2025
-Second Note			130,000				-				6.00	%		June 30, 2029
1460 N. Eastern Avenue
-First Note			603,000				-				9.50	%		April 1, 2025
-Second Note			175,000				-				6.00	%		June 30, 2029
Hubilu General Loan			275,000				275,000				0.00	%		On Demand
Total mortgages payable		$	18,192,497			$	15,873,705
Less: current maturities			2,210,810				768,961
Mortgages payable, long-term portion		$	15,981,687			$	15,104,744

 

In addition to the mortgages incurred on current period property acquisitions disclosed in Note 5, the Company refinanced the following debts:

 

On June 14, 2024, the first and second note for 2115 Portland Street was refinanced for $993,750 with Ameritrust Mortgage, Corp., bearing interest on unpaid principal at the rate of 7.25% per annum. Principal and interest payable in monthly installments of $6,779 or more commenced on August 1, 2024, and continue until July 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.

 

On March 16, 2024, the first note for 1733 W. 37th Place was refinanced for $595,000 with Investor Mortgage Finance, LLC, bearing interest at the rate of 7.225% per annum. Principal and interest payable in monthly installments of $4,049 commenced on May 1, 2024, and continue until April 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.

 

The Company realized a $63,403 loss on early extinguishment of debt related to refinancing notes payable during the six months ended June 30, 2024.

 

The Company recognized $513,232 and $471,199 of interest expense on notes payable for the six months ended June 30, 2024 and 2023, respectively.

 

12

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Note 10 – Convertible Preferred Stock Payable

 

The Company has authorized 10,000,000 shares of preferred stock, and designated 100,000 and 2,000,000 shares of 5% voting, cumulative convertible Series A (“Series A”) and Series 1 (“Series 1”) preferred stock (collectively, “Preferred Stock”), respectively.

 

The Series A matures on September 30, 2030, and Series 1 matures on September 30, 2029.

 

The Preferred Stock has the following rights and privileges:

 

Voting – The holders of the Preferred Stock shall be entitled to the number of votes equal to the number of shares of common stock into which such shares of Preferred Stock could be converted.

 

Conversion – Each share of Series A preferred stock, is convertible at the option of the holder, into shares of common stock, equal to three hundred thirty-three and 33/100 (333 1/3) shares of common stock, calculated by dividing the number of Series A preferred shares by $0.003. The Series A preferred stock is also subject to certain adjustments for dilution, if any, resulting from future stock issuances, including for any subsequent issuance of common stock at a price per share less than that paid by the holders of the preferred stock.

 

Each share of Series 1 preferred stock, is convertible at the option of the holder, into shares of common stock, at the lesser of $0.50 per share or a ten percent (10%) discount to the average closing bid price of the common stock 5 days prior to the notice of conversion. The Series 1 preferred stock is also subject to certain adjustments for dilution, if any, resulting from future stock issuances, including for any subsequent issuance of common stock at a price per share less than that paid by the holders of the preferred stock.

 

Dividends – The holders of the Preferred Stock in preference to the holders of common stock, are entitled to receive dividends at the rate of 5% per annum, in kind, which shall accrue quarterly. Such dividends are cumulative. No such dividends have been declared to date.

 

Liquidation – In the event of any liquidation, dissolution, winding-up or sale or merger of the Company, whether voluntarily or involuntarily, each holder of Preferred Stock is entitled to receive, in preference to the holders of common stock, a per-share amount equal to the original issue price of $1.00 (as adjusted, as defined), plus all declared but unpaid dividends.

 

The predominant settlement obligation of the convertible preferred stock was considered to be the issuance of a variable number of shares to settle a fixed monetary amount. Thus, these shares are scoped into the guidance of ASC 480-10 and are accounted for as a liability.

 

No shares of Series A preferred stock have been issued to date. Outstanding Series 1 preferred stock is as follows:

 

 Schedule of Outstanding Series 1 Preferred Stock

		Shares				Amount				Dividend in Arrears				Total
Balance, December 31, 2023			520,400			$	520,400			$	179,463			$	699,863
Dividends accrued			-				-				12,938				12,938
Balance, June 30, 2024			520,400			$	520,400			$	192,401			$	712,801

 

Note 11 – Commitments and Contingencies

 

Legal Matters

 

From time to time, the Company may be a party to various legal matters, threatened claims, or proceedings in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with its legal counsel, the need to record a liability for litigation and contingencies. Legal accruals are recorded when and if it is determined that a loss related to a certain matter is both probable and reasonably estimable.

 

Note 12 – Changes in Stockholders’ Equity (Deficit)

 

Common Stock

 

The Company has authorized 100,000,000 shares of $0.001 par value common stock. As of June 30, 2024, a total of 26,237,125 shares of common stock had been issued. Each holder of common stock is entitled to one vote for each share of common stock held.

 

No shares of common stock were issued during the six months ended, June 30, 2024.

 

13

 

HUBILU VENTURE CORPORATION

Notes to Condensed Consolidated Financial Statements

(Unaudited)

 

Note 13 – Income Taxes

 

The Company accounts for income taxes under FASB ASC 740-10, which requires use of the liability method. FASB ASC 740-10-25 provides that deferred tax assets and liabilities are recorded based on the differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, referred to as temporary differences.

 

For the six months ended June 30, 2024, and the year ended December 31, 2023, the Company incurred a net operating loss and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. At June 30, 2024, the Company had approximately $1,472,000 of federal net operating losses. The net operating loss carry forwards, if not utilized, will begin to expire in 2025.

 

Based on the available objective evidence, including the Company’s history of its loss, management believes it is more likely than not that the net deferred tax assets will not be fully realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at June 30, 2024 and December 31, 2023, respectively.

 

In accordance with FASB ASC 740, the Company has evaluated its tax positions and determined there are no uncertain tax positions.

 

Note 14 - Subsequent Events

 

Property Acquisitions

 

On July 25, 2024, the Company, through its subsidiary, Mopane Investments, LLC, signed a contract to purchase the real property located at 802 E. 25th Street in Los Angeles, California for $650,000. The acquisition is scheduled to close on approximately August 16, 2024.

 

Investments

 

On July 2, 2024, the Company closed on a Short Form Equity Stake and Investment Agreement (“Investment Agreement”) with Gula World, Gula Health Inc., and Gaya Ventures Inc, collectively referred to as (the “Gula Entities”), a conglomerate of spiritual and health-based product and services companies. The Investment Agreement required the Company to purchase Thirty-Two Thousand, Nine Hundred and Forty Dollars ($32,940) into the Gula Entities for a Four (4%) percent Non-Diluted Ownership Interest (“NDOI”) in the Gula Entities. Also included in the purchase are any and all assets and axillary products and companies that are owned, planned or may arise from the Gula Entities’ operations. Pursuant to the 4% NDOI purchased, the Company received the following interests in the Gula Entities (collectively referred to as, “Stock”):

 

Gaya Ventures Inc - 4,000,000 shares of Common Stock; $0.50 par value

Gaya Ventures Inc - 4 shares of Preferred Stock; $1.00 par value

Gula Heath Inc - 400,000 shares of Preferred Stock; $0.50 par value

Gula World - 400,000 shares of Common Stock; $1.50 par value

 

The Company did not receive voting rights for its NDOI. The Company also has the right to purchase an additional 13% NDOI in the Gula Entities over the following five-month period as follows:

 

$32,940 invested August 1, 2024 = 4% NDOI

$24,705 invested September 1, 2024 = 3% NDOI

$24,705 invested October 1, 2024 = 3% NDOI

$12,352 invested November 1, 2024 = 1.5% NDOI

$12,353 invested December 1, 2024 = 1.5% NDOI

 

If any of the Gula Entities issue any Stock before December 1, 2024, to any party (“Third Party”), besides Hubilu, the Gula Entities will issue Stock to Hubilu of at least Hubilu’s ownership interest at the time the Gula Entities issues the Stock to the Third Party. In the event Hubilu invests a total of $140,000 in the Gula Entities by December 1, 2024, Hubilu will be issued Stock equal to 17% of the Stock issued to Third Party.

 

In addition, the Company will be entitled to 50% of all sales generated from a referral program called, “Gift a Friend” (“GAF”), or similar named link that generates customer contact information from the Gulaworld.com website to the Gula Entities as part of any membership sales and/or products sold by the Gula Entities to its customers, net of their shipping costs and/or cost of service (“Royalties”).

 

Alternatively, the Company may elect to receive additional Stock on a Non-Dilutive basis as payment of Royalties in lieu of cash. This additional Stock received in the Gula Entities would include voting rights. Royalties are to be calculated on a quarterly basis.

 

 

Item 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations

 

You should read the following discussion of our financial condition and results of operations in conjunction with the condensed consolidated financial statements and the notes thereto included elsewhere in this Quarterly Report on Form 10-Q and with our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023. In addition to historical condensed financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements.

 

Overview

 

We were incorporated under the laws of the state of Delaware on March 2, 2015, and are a real estate consulting, asset management and business acquisition company, that specializes in acquiring student housing and corporate income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.

 

Due to high demand for houses from students, non- profit, and for-profit corporate tenants around the USC Campus and neighbouring Metro/subway stations, we have focused on acquiring multiple houses, remodeling and renting out. Rents have increased dramatically for houses in our target areas, allowing us to target larger and higher priced houses, while factoring in current interest rates.

 

With multiple properties within a small radius, we’re able to take advantage of economies of scale and benefit from property management efficiencies. Our focus is to continue acquiring houses and expand rental operations.

 

We purchased three new properties during the second quarter of 2024, and entered into agreements to acquire two additional properties during the third quarter of 2024. All properties have been purchased in conjunction with various debt financing arrangements.

 

Going Concern Uncertainty

 

As of June 30, 2024, our balance of cash on hand was $135,798, and we had negative working capital of $3,138,271 and an accumulated deficit of $2,183,640. We expect to incur further losses in the development of its business; therefore, we may not have sufficient funds to sustain our operations for the next twelve months and we may need to raise additional cash to fund our operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. In the event revenues do not materialize at the expected rates, management would seek additional financing and would attempt to conserve cash by further reducing expenses. There can be no assurance that we will be successful in achieving these objectives.

 

The condensed consolidated financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company’s ability to continue as a going concern. The condensed consolidated financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. Our ability to acquire new properties and increase revenues is largely dependent on our success in raising additional capital.

 

 

Results of Operations for the Three Months Ended June 30, 2024 and 2023

 

The following table summarizes selected items from the statement of operations for the three months ended June 30, 2024 and 2023, respectively.

 

		Three Months Ended
		June 30,								Increase /
		2024				2023				(Decrease)
Rental revenue		$	531,081			$	426,098			$	104,983
Operating expenses:
General and administrative			42,409				8,857				33,552
Salaries and benefits			19,600				15,700				3,900
Utilities			3,702				8,485				(4,783	)
Professional fees			49,583				35,756				13,827
Property taxes			55,182				49,815				5,367
Repairs and maintenance			35,672				-				35,672
Depreciation			54,993				56,982				(1,989	)
Total operating expenses			261,141				175,595				85,546
Net operating income			269,940				250,503				19,437
Other income (expense)			(327,462	)			(248,864	)			78,598
Net income (loss)		$	(57,522	)		$	1,639			$	(59,161	)

 

Revenues

 

Our total revenues increased to $531,081 for the three months ended June 30, 2024, compared to $426,098 for the three months ended June 30, 2023, an increase of $104,983, or 25%. The increase is due primarily to increased rental rates during the current period.

 

General and Administrative

 

General and administrative expenses for the three months ended June 30, 2024 was $42,409, compared to $8,857 for the three months ended June 30, 2023, an increase of $33,552, or 379%. General and administrative expenses increased primarily due to increased property management costs incurred during the current period.

 

Salaries and Benefits

 

Salaries and benefits expenses for the three months ended June 30, 2024 was $19,600, compared to $15,700 for the three months ended June 30, 2023, an increase of $3,900, or 25%.

 

 

Utilities

 

Utilities expense for the three months ended June 30, 2024 was $3,702, compared to $8,485 for the three months ended June 30, 2023, a decrease of $4,783, or 56%. Utilities expense decreased due to additional tenants that reimbursed the Company for their share of utilities.

 

Professional Fees

 

Professional fees for the three months ended June 30, 2024 was $49,583, compared to $35,756 for the three months ended June 30, 2023, an increase of $13,827, or 39%. Professional fees consisted of legal, audit and accounting fees, which increased primarily due to increased compliance costs related to our public filings with the SEC, and legal costs related to the acquisition of properties acquired during the current period.

 

Property Taxes

 

Property tax expense for the three months ended June 30, 2024 was $55,182, compared to $49,815 for the three months ended June 30, 2023, an increase of $5,367, or 11%. The increase is primarily due to the acquisition of additional properties during the current period.

 

Repairs and Maintenance

 

Repairs and maintenance expense for the three months ended June 30, 2024 was $35,652 compared to $-0- for the three months ended June 30, 2023, an increase of $35,652. Repairs and maintenance expense increased due to greater repairs on certain properties during the current period.

 

Depreciation

 

Depreciation expense for the three months ended June 30, 2024 was $54,993, compared to $56,982 for the three months ended June 30, 2023, a decrease of $1,989, or 3%. Depreciation expense decreased during the current period due to some assets reaching the end of their useful lives.

 

Other Income (Expense)

 

Other expense for the three months ended June 30, 2024 was $327,462, compared to $248,864 for the three months ended June 30, 2023, an increase of $78,598, or 32%. During the three months ended June 30, 2024, other expense consisted of $6,469 of dividends expense, $265,337 of interest expense, and a $55,656 loss on early extinguishment of debt related to the refinancing of one of our mortgages. During the three months ended June 30, 2023, other expense consisted of $6,469 of dividends expense and $242,395 of interest expense.

 

Net Loss

 

Net loss for the three months ended June 30, 2024 was $57,522, compared to net income of $1,639 for the three months ended June 30, 2023, an increase of $59,161, or 3,610%. The increased net loss was primarily due to increased repairs and maintenance costs and interest expense, as partially offset by increased revenues during the current period.

 

 

Results of Operations for the Six Months Ended June 30, 2024 and 2023

 

The following table summarizes selected items from the statement of operations for the six months ended June 30, 2024 and 2023, respectively.

 

		Six Months Ended
		June 30,								Increase/
		2024				2023				(Decrease)
Rental revenue		$	1,050,059			$	834,936			$	215,123
Operating expenses:
General and administrative			95,972				36,552				59,420
Salaries and benefits			34,000				31,600				2,400
Utilities			18,548				25,885				(7,337	)
Professional fees			74,300				54,556				19,744
Property taxes			99,542				91,361				8,181
Repairs and maintenance			105,788				-				105,788
Depreciation			95,073				113,004				(17,931	)
Total operating expenses			523,223				352,958				170,265
Net operating income			526,836				481,978				44,858
Other income (expense)			(589,573	)			(484,066	)			105,507
Net loss		$	(62,737	)		$	(2,088	)		$	60,649

 

Revenues

 

Our total revenues increased to $1,050,059 for the six months ended June 30, 2024, compared to $834,936 for the six months ended June 30, 2023, an increase of $215,123, or 26%. The increase is due primarily to increased rental rates during the current period.

 

General and Administrative

 

General and administrative expenses for the six months ended June 30, 2024 was $95,972, compared to $36,552 for the six months ended June 30, 2023, an increase of $59,420, or 163%. General and administrative expenses increased primarily due to increased property management costs incurred during the current period.

 

Salaries and Benefits

 

Salaries and benefits expenses for the six months ended June 30, 2024 was $34,000, compared to $31,600 for the six months ended June 30, 2023, an increase of $2,400, or 8%.

 

 

Utilities

 

Utilities expense for the six months ended June 30, 2024 was $18,548, compared to $25,885 for the six months ended June 30, 2023, a decrease of $7,337, or 28%. Utilities expense decreased due to additional tenants that reimbursed the Company for their share of utilities.

 

Professional Fees

 

Professional fees for the six months ended June 30, 2024 was $74,300, compared to $54,556 for the six months ended June 30, 2023, an increase of $19,744, or 36%. Professional fees consisted of legal, audit and accounting fees, which increased primarily due to increased audit work, compliance costs related to our public filings with the SEC, and legal costs related to the acquisition of properties acquired during the current period.

 

Property Taxes

 

Property tax expense for the six months ended June 30, 2024 was $99,542, compared to $91,361 for the six months ended June 30, 2023, an increase of $8,181, or 9%. The increase is primarily due to the acquisition of additional properties during the current period.

 

Repairs and Maintenance

 

Repairs and maintenance expense for the six months ended June 30, 2024 was $105,788 compared to $-0- for the six months ended June 30, 2023, an increase of $105,788. Repairs and maintenance expense increased due to greater repairs on certain properties during the current period.

 

Depreciation

 

Depreciation expense for the six months ended June 30, 2024 was $95,073, compared to $113,004 for the six months ended June 30, 2023, a decrease of $17,931, or 16%. Depreciation expense decreased during the current period due to some assets reaching the end of their useful lives.

 

Other Income (Expense)

 

Other expense for the six months ended June 30, 2024 was $589,573, compared to $484,066 for the six months ended June 30, 2023, an increase of $105,507, or 22%. During the six months ended June 30, 2024, other expense consisted of $12,938 of dividends expense, $513,232 of interest expense, and a $63,403 loss on early extinguishment of debt related to the refinancing of two of our mortgages. During the six months ended June 30, 2023, other expense consisted of $12,867 of dividends expense and $471,199 of interest expense.

 

Net Loss

 

Net loss for the six months ended June 30, 2024 was $62,737, compared to net loss of $2,088 for the six months ended June 30, 2023, an increase of $60,649, or 2,905%. The increased net loss was primarily due to increased repairs and maintenance costs and interest expense, as partially offset by increased revenues during the current period.

 

 

Liquidity and Capital Resources

 

The following table summarizes our total current assets, liabilities and working capital as of June 30, 2024 and December 31, 2023.

 

		June 30, 2024				December 31, 2023
Current Assets		$	149,121			$	36,164
Current Liabilities		$	3,287,392			$	1,793,854
Working Capital Deficit		$	(3,138,271	)		$	(1,757,690	)

 

As of June 30, 2024, we had negative working capital of $3,138,271. We have incurred net losses since our inception and we anticipate net losses and negative operating cash flows for the near future, and we may not be profitable or realize growth in the value of our assets. To date, our primary sources of capital have been cash generated from rental income and debt financing. As of June 30, 2024, we had cash of $135,798, total liabilities of $20,389,073, and an accumulated deficit of $2,183,640. As of December 31, 2023, we had cash of $24,564, total liabilities of $18,018,592, and an accumulated deficit of $2,120,903.

 

Cash Flow

 

Comparison of the Six Months Ended June 30, 2024 and the Six Months Ended June 30, 2023

 

The following table sets forth the primary sources and uses of cash for the periods presented below:

 

		Six Months Ended
		June 30,
		2024				2023
Net cash provided by operating activities		$	165,537			$	194,724
Net cash used in investing activities			(487,792	)			(222,434	)
Net cash used in financing activities			433,489				(32,766	)
Net change in cash		$	111,234			$	(60,476	)

 

Net Cash Provided by Operating Activities

 

Net cash provided by operating activities was $165,537 for the six months ended June 30, 2024, compared to $194,724 for the six months ended June 30, 2023, a decrease of $29,187, or 15%. The decrease was primarily due to decreased depreciation expense in the current period.

 

Net Cash Used in Investing Activities

 

Net cash used in investing activities was $487,792 for the six months ended June 30, 2024, compared to $222,434 for the six months ended June 30, 2023, an increase of $265,358, or 119%. This increase was primarily attributable to the purchase of three properties in the current period.

 

Net Cash Provided by (Used in) Financing Activities

 

Net cash provided by financing activities was $433,489 for the six months ended June 30, 2024, compared to net cash used in financing activities of $32,766 for the six months ended June 30, 2023, an increase of $466,255, or 1,423%. Our increased cash provided by financing activities was primarily due to increased proceeds received on debt financing received in the current period.

 

 

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

 

Our financial results are affected by the selection and application of accounting policies and methods. In the six-month period ended June 30, 2024 there were no changes to the application of critical accounting policies disclosed in our Annual Report on Form 10-K for the year ended December 31, 2023.

 

CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS

 

This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements in this report, other than statements of historical fact, are “forward-looking statements” for purposes of these provisions, including any projections of earnings, revenues or other financial items, any statements of the plans and objectives of our management for future operations, any statements concerning proposed new products or services, any statements regarding the integration, development or commercialization of the business or any assets acquired from other parties, any statements regarding future economic conditions or performance, and any statements of assumptions underlying any of the foregoing. In some cases, forward-looking statements can be identified by the use of terminology such as “may,” “will,” “expects,” “plans,” “anticipates,” “intends,” “seeks,” “believes,” “estimates,” “potential,” “forecasts,” “continue,” or other forms of these words or similar words or expressions, or the negative thereof or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements contained herein are reasonable, there can be no assurance that such expectations or any of the forward-looking statements will prove to be correct, and actual results will likely differ, and could differ materially, from those projected or assumed in the forward-looking statements. Investors are cautioned not to unduly rely on any such forward-looking statements.

 

All subsequent forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. Our actual results will likely differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results. All forward-looking statements included in this report are made as of the date hereof and are based on information available to us as of such date. We assume no obligation to update any forward-looking statement. If we do update or correct one or more forward-looking statements, investors and others should not conclude that we will make additional updates or corrections.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

The Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined in Rule 12b-2 of the Exchange Act.

 

Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

We conducted an evaluation, under the supervision and with the participation of the Chief Executive Officer and Chief Financial Officer, who are one in the same, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(f) under the Securities Exchange Act of 1934 as amended (the “Exchange Act”)). Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were not effective.

 

Changes in Internal Control Over Financial Reporting

 

During the six-month period ended June 30, 2024, there has been no change in internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

  

 

PART II — OTHER INFORMATION

 

Item 1. Legal Proceedings

 

We may become, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities. We are not currently party to any pending legal proceedings that we believe would, individually or in the aggregate, have a material adverse effect on our financial condition, cash flows or results of operations.

 

Item 1A. Risk Factors

 

The Company is not required to provide the information required by this Item as it is a “smaller reporting company,” as defined in Rule 12b-2 of the Exchange Act.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None.

 

Item 3. Defaults Upon Senior Securities

 

None.

 

Item 4. Mine Safety Disclosures

 

None.

 

Item 5. Other Information

 

None.

 

 

Item 6. Exhibits

 

Exhibit		Description
3.1		Certificate of Incorporation (incorporate by reference to Exhibit 3.1 of Form S-1 filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 21, 2015)
3.2		Certificate of Correction of Certificate of Incorporation (incorporate by reference to Exhibit 3.1a of Form S-1 filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 21, 2015)
3.3		Bylaws (incorporate by reference to Exhibit 3.2 of Form S-1 filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 21, 2015)
3.4		Form of Stock Certificate (incorporated by reference to Exhibit 3.3 of Form 8-A12G filed with the Securities and Exchange Commission by Hubilu Venture Corporation on April 21, 2016)
4.1		Certificate of Designations of 5% Voting, Cumulative Convertible Series A Preferred Stock (incorporated by reference to Exhibit 4.1 of Form 10-Q filed with the Securities and Exchange Commission by Hubilu Venture Corporation on November 21, 2016)
4.2		Certificate of Designations of 5% Voting, Cumulative Convertible Series 1 Preferred Stock (incorporated by reference to Exhibit 4.2 of Form 10-Q filed with the Securities and Exchange Commission by Hubilu Venture Corporation on November 21, 2016)
4.3		Amended and Restated Certificate of Designations of 5% Voting, Cumulative Convertible Series 1 Preferred Stock (Incorporated by reference to Exhibit 4.3 of Form 10-Q filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 15, 2024)
4.4		Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (Incorporated by reference to Exhibit 4.3 of Form 10-K filed with the Securities and Exchange Commission by Hubilu Venture Corporation on April 16, 2024)
10.1		Promissory Note, dated as of February 27, 2024, among Hubilu Venture Corporation and Belladonna Lily Investments, Inc. (Incorporated by reference to Exhibit 10.1 of Form 10-Q filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 15, 2024)
10.2		Fixed Rate Note, dated as of March 16, 2024, among Hubilu Venture Corporation and Investor Mortgage Finance LLC (Incorporated by reference to Exhibit 10.2 of Form 10-Q filed with the Securities and Exchange Commission by Hubilu Venture Corporation on May 15, 2024)
10.3*		Promissory Note, dated as of April 15, 2024, among Mopane Investments, LLC and Center Street Lending VIII SPE, LLC
10.4*		Promissory Note Secured by Deed of Trust, dated as of April 22, 2024, among Mopane Investments, LLC and Belladonna Lilu Investments, Inc.
10.5*		Secured Note, dated as of June 20, 2024, among Mopane Investments, LLC and Churchill Funding I LLC
10.6*		Construction Loan, dated as of June 25, 2024, among Mopane Investments, LLC and LendingOne, LLC
10.7*		Promissory Note Secured by Deed of Trust, dated as of June 17, 2024, among Mopane Investments, LLC and Belladonna Lilu Investments, Inc.
10.8*		Promissory Note, dated as of June 12, 2024, among Boabab Investments, LLC and Ameritrust Mortgage Corporation
21.1		Subsidiaries of Hubilu Venture Corporation (9) (Incorporated by reference to Exhibit 21.1 of Form 10-K filed with the Securities and Exchange Commission by Hubilu Venture Corporation on April 16, 2024)
31.1*		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934
31.2*		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934
32.1*		Certification of the Chief Executive Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*		Certification of the Chief Financial Officer pursuant to 18 U.S.C Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase
101.PRE*		Inline XBRL Taxonomy Presentation Linkbase
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)
*		Filed herewith.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

	HUBILU VENTURE CORPORATION
August 19, 2024	/s/ David Behrend
	David Behrend
	Chairman and Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Accounting and Financial Officer)

 

 

 

Exhibit 10.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 10.4

 

 

 

Exhibit 10.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 10.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 10.7

 

 

 

 

 

 

Exhibit 10.8

 

 

 

 

 

 

 

 

 

 

Exhibit 31.1

 

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

 

I, David Behrend, Chairman and Chief Executive Officer, certify that:

 

1. I have reviewed this Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “registrant”);

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

 

3. Based on my knowledge, the financial statements and other financial information included in this quarterly report fairly presents in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within the entity, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

 

Dated: August 19, 2024	/s/ David Behrend
	David Behrend
	Chief Executive Officer
	(Principal Executive Officer)

 

 

 

Exhibit 31.2

 

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

 

I, David Behrend, Chief Financial Officer of Hubilu Venture Corporation, certify that:

 

1. I have reviewed this Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “registrant”);

 

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

 

3. Based on my knowledge, the financial statements and other financial information included in this quarterly report fairly presents in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

 

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within the entity, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal controls over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting; and

 

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):

 

(a) All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

 

Dated: August 19, 2024	/s/ David Behrend
	David Behrend
	Chief Financial Officer
	(Principal Financial Officer)

 

 

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “Company”) for the period ending June 30, 2024, as filed with the Securities and Exchange Commission on or about the date hereof (“Report”), I, David Behrend, the Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as enacted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

 

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: August 19, 2024	/s/ David Behrend
	David Behrend
	Chief Executive Officer
	(Principal Executive Officer)

 

 

 

Exhibit 32.2

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ENACTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report on Form 10-Q of Hubilu Venture Corporation (the “Company”) for the period ending June 30, 2024 as filed with the Securities and Exchange Commission on or about the date hereof (“Report”), I, David Behrend, Chief Financial Officer of the Company, certify pursuant to 18 U.S.C. Section 1350, as enacted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

 

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Dated: August 19, 2024	/s/ David Behrend
	David Behrend
	Chief Financial Officer
	(Principal Financial Officer)

 

 

v3.24.2.u1

Cover - $ / shares	6 Months Ended
	Jun. 30, 2024	Aug. 19, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-55611
Entity Registrant Name	Hubilu Venture Corporation
Entity Central Index Key	0001639068
Entity Tax Identification Number	47-3342387
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	205 South Beverly Drive
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	(310)
Local Phone Number	308-7887
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,237,125
Entity Listing, Par Value Per Share	$ 0.001

v3.24.2.u1

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 135,798	$ 24,564
Accounts receivable	12,830	2,100
Prepaid expenses	493	9,500
Total current assets	149,121	36,164
Real estate:
Land	12,933,049	11,800,304
Building and capital improvements	6,508,628	5,458,695
Property acquisition and financing	423,477	296,463
Less: accumulated depreciation	(857,479)	(762,406)
Total real estate, net	19,007,675	16,793,056
Security deposits	31,600	6,600
Total assets	19,188,396	16,835,820
Current liabilities:
Accounts payable	45,655	21,250
Advanced rents received	4,774	10,124
Accrued interest	64,421	39,402
Security deposits payable	295,060	300,383
Due to related party, current maturities	474,271	474,271
Mortgages payable, current maturities	2,210,810	768,961
Dividends payable	192,401	179,463
Total current liabilities	3,287,392	1,793,854
Convertible preferred stock payable	520,400	520,400
Total liabilities	20,389,073	18,018,592
Stockholders’ equity (deficit):
Common stock, $0.001 par value, 100,000,000 shares authorized, 26,237,125 shares issued and outstanding	26,237	26,237
Additional paid-in capital	956,726	911,894
Accumulated deficit	(2,183,640)	(2,120,903)
Total stockholders’ equity (deficit)	(1,200,677)	(1,182,772)
Total liabilities and stockholders’ equity (deficit)	19,188,396	16,835,820
Related Party [Member]
Current liabilities:
Mortgages payable	599,594	599,594
Nonrelated Party [Member]
Current liabilities:
Mortgages payable	$ 15,981,687	$ 15,104,744

v3.24.2.u1

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	26,237,125	26,237,125
Common stock, shares outstanding	26,237,125	26,237,125

v3.24.2.u1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Rental revenue	$ 531,081	$ 426,098	$ 1,050,059	$ 834,936
Operating expenses:
General and administrative	42,409	8,857	95,972	36,552
Salaries and benefits	19,600	15,700	34,000	31,600
Utilities	3,702	8,485	18,548	25,885
Professional fees	49,583	35,756	74,300	54,556
Property taxes	55,182	49,815	99,542	91,361
Repairs and maintenance	35,672		105,788
Depreciation	54,993	56,982	95,073	113,004
Total operating expenses	261,141	175,595	523,223	352,958
Net operating income	269,940	250,503	526,836	481,978
Other income (expense):
Dividends expense	(6,469)	(6,469)	(12,938)	(12,867)
Interest expense	(265,337)	(242,395)	(513,232)	(471,199)
Loss on early extinguishment of debt	(55,656)		(63,403)
Total other income (expense)	(327,462)	(248,864)	(589,573)	(484,066)
Net income (loss)	$ (57,522)	$ 1,639	$ (62,737)	$ (2,088)
Weighted average common shares outstanding - basic	26,237,125	26,237,125	26,237,125	26,237,125
Net loss per common share - basic	$ (0.00)	$ 0.00	$ (0.00)	$ (0.00)
Weighted average common shares outstanding - diluted	26,237,125	26,346,409	26,237,125	26,237,125
Net loss per common share - diluted	$ (0.00)	$ 0.00	$ (0.00)	$ (0.00)

v3.24.2.u1

Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 26,237	$ 821,981	$ (1,845,571)	$ (997,353)
Balance, shares at Dec. 31, 2022	26,237,125
Imputed interest		26,009		26,009
Net income (loss)			(2,088)	(2,088)
Balance at Jun. 30, 2023	$ 26,237	847,990	(1,847,659)	(973,432)
Balance, shares at Jun. 30, 2023	26,237,125
Balance at Mar. 31, 2023	$ 26,237	834,914	(1,849,298)	(988,147)
Balance, shares at Mar. 31, 2023	26,237,125
Imputed interest		13,076		13,076
Net income (loss)			1,639	1,639
Balance at Jun. 30, 2023	$ 26,237	847,990	(1,847,659)	(973,432)
Balance, shares at Jun. 30, 2023	26,237,125
Balance at Dec. 31, 2023	$ 26,237	911,894	(2,120,903)	(1,182,772)
Balance, shares at Dec. 31, 2023	26,237,125
Imputed interest		44,832		44,832
Net income (loss)			(62,737)	(62,737)
Balance at Jun. 30, 2024	$ 26,237	956,726	(2,183,640)	(1,200,677)
Balance, shares at Jun. 30, 2024	26,237,125
Balance at Mar. 31, 2024	$ 26,237	934,310	(2,126,118)	(1,165,571)
Balance, shares at Mar. 31, 2024	26,237,125
Imputed interest		22,416		22,416
Net income (loss)			(57,522)	(57,522)
Balance at Jun. 30, 2024	$ 26,237	$ 956,726	$ (2,183,640)	$ (1,200,677)
Balance, shares at Jun. 30, 2024	26,237,125

v3.24.2.u1

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (62,737)	$ (2,088)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	95,073	113,004
Imputed interest	44,832	26,009
Cumulative preferred stock dividends payable	12,938	12,867
Loss on early extinguishment of debt	63,403
Decrease (increase) in current assets:
Accounts receivable	(10,730)
Prepaid expenses	9,007
Security deposits	(25,000)
Increase (decrease) in current liabilities:
Accounts payable	24,405
Advanced rents received	(5,350)	14,375
Accrued expenses	25,019	1,547
Security deposits payable	(5,323)	29,010
Net cash provided by operating activities	165,537	194,724
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(487,792)	(222,434)
Net cash used in investing activities	(487,792)	(222,434)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds received from mortgages payable	530,000	102,100
Repayments on mortgages payable	(96,511)	(134,866)
Net cash provided by (used in) financing activities	433,489	(32,766)
NET CHANGE IN CASH AND CASH EQUIVALENTS	111,234	(60,476)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	24,564	92,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD	135,798	31,592
SUPPLEMENTAL INFORMATION:
Interest paid	445,243	443,643
Income taxes paid
Non-cash investing and financing transactions:
Acquisition of properties financed with debt	$ 1,821,900

v3.24.2.u1

Nature of Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Significant Accounting Policies	Note 1 – Nature of Business and Significant Accounting Policies   Nature of Business   Hubilu Venture Corporation (“the Company,” “we,” “our” or “us”) was incorporated under the laws of the state of Delaware on March 2, 2015 and is a real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing and corporate income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.   Basis of Presentation   The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC). Intercompany accounts and transactions have been eliminated.   The unaudited condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with GAAP and do not contain certain information included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.   Principles of Consolidation   The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at June 30, 2024:  Schedule of Common Control and Ownership     State of       Name of Entity   Incorporation   Relationship   Hubilu Venture Corporation(1)     Delaware     Parent   Akebia Investments, LLC(2)     Wyoming     Subsidiary   Boabab Investments, LLC(2)     Wyoming     Subsidiary   Elata Investments, LLC(2)     Wyoming     Subsidiary   Kapok Investments, LLC(2)     Wyoming     Subsidiary   Lantana Investments, LLC(2)     Wyoming     Subsidiary   Mopane Investments, LLC(2)     Wyoming     Subsidiary   Sunza Investments, LLC(2)     Wyoming     Subsidiary   Trilosa Investments, LLC(2)     Wyoming     Subsidiary   Zinnia Investments, LLC(2)     Wyoming     Subsidiary       (1) Holding company in the form of a corporation.   (2) Wholly-owned subsidiary in the form of a limited liability corporation.   Reclassifications   Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)   Use of Estimates   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.   Segment Reporting   ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.   Fair Value of Financial Instruments   The Company discloses the fair value of certain assets and liabilities in accordance with ASC 820 – Fair Value Measurement and Disclosures (ASC 820). Under ASC 820-10-05, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company’s financial statements as reflected herein. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses reported on the balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.   Revenue Recognition   The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customer. Under ASC 606, the Company recognizes revenue from leases with its various tenants under operating leases in accordance with a five-step model in which the Company evaluates the performance obligations in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.   The Company’s sales are predominantly generated from leasing its properties to various tenants under operating leases. These sales contain a single performance obligation, and revenue is recognized on a straight-line basis using the effective interest method, based on the Company’s borrowing rate, over the life of the leases. The Company records adjustments to revenue for incidentals and move out, or janitorial reimbursements in the same period that the related revenue is recorded.   Basic and Diluted Loss Per Share   The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as if converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For the periods presented, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.   Recent Accounting Pronouncements   From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.

v3.24.2.u1

Going Concern	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	Note 2 – Going Concern   As shown in the accompanying condensed consolidated financial statements as of June 30, 2024, our balance of cash on hand was $135,798, and we had negative working capital of $3,138,271 and an accumulated deficit of $2,183,640. The Company expects to incur further losses in the development of its business, and may not be able to generate sufficient funds to sustain our operations for the next twelve months. Accordingly, we may need to raise additional cash to fund our operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. In the event revenues do not materialize at the expected rates, management would seek additional financing and would attempt to conserve cash by further reducing expenses. There can be no assurance that we will be successful in achieving these objectives.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)   The condensed consolidated financial statements do not include any adjustments that might result from the outcome of any uncertainty as to the Company’s ability to continue as a going concern. The condensed consolidated financial statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. Our ability to acquire new properties and increase revenues is largely dependent on our success in raising additional capital.

v3.24.2.u1

Significant Concentrations	6 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Significant Concentrations	Note 3 – Significant Concentrations   The Company had certain customers whose revenue individually represented 10% or more of the Company’s total net revenue, or whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable, as follows:   For the six months ended June 30, 2024, one customer accounted for 54% and 64% of revenue for the six months ended June 30, 2024 and 2023, respectively.

v3.24.2.u1

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 4 – Fair Value of Financial Instruments   Under FASB ASC 820-10-5, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under GAAP, certain assets and liabilities must be measured at fair value, and FASB ASC 820-10-50 details the disclosures that are required for items measured at fair value.   The Company has cash and debts that must be measured under the fair value standard. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows:   Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.   Level 2 – Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).   Level 3 – Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability.   The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balances sheet as of June 30, 2024 and December 31, 2023:    Schedule of Valuation of Financial Instruments at Fair Value Recurring Basis   Level 1     Level 2     Level 3     Fair Value Measurements at June 30, 2024     Level 1     Level 2     Level 3   Assets                   Cash   $ 135,798     $ -     $ -   Total assets       135,798       -       -   Liabilities                         Due to related party     -       474,271       -   Mortgages payable, related party     -       599,594       -   Mortgages payable     -       18,192,497       -   Dividends payable     -       192,401       -   Convertible preferred stock payable     -       -       520,400   Total liabilities     -       19,458,763       520,400   Net asset (liabilities)   $ 135,798     $ (19,458,763 )   $ (520,400 )     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)       Level 1     Level 2     Level 3     Fair Value Measurements at December 31, 2023       Level 1     Level 2     Level 3   Assets                   Cash   $ 24,564     $ -     $ -   Total assets     24,564       -       -   Liabilities                         Due to related party     -       474,271       -   Mortgages payable, related party     -       599,594       -   Mortgages payable     -       15,873,705       -   Dividends payable     -       179,463       -   Convertible preferred stock payable     -       -       520,400   Total liabilities     -       17,127,033       520,400   Net asset (liability)   $ 24,564     $ (17,127,033 )   $ (520,400 )   There were no transfers of financial assets or liabilities between Level 1 and Level 2 inputs for the six months ended June 30, 2024 or the year ended December 31, 2023.

v3.24.2.u1

Real Estate	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Real Estate	Note 5 - Real Estate   Property Acquisitions   On June 27, 2024, we completed an acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 1457 W. 35th Street in Los Angeles (“Mopane”). The property was vacant at the time of purchase. The acquisition was for $710,000 (“Purchase Price”). Terms of the acquisition are as follows: (1) A first position note with payment on principal balance of $624,750 issued by the Property Owner, Mopane, owing to lender, Churchill Funding I, LLC, bearing interest at 10% per annum, based on a 30/360 day year. Monthly payments of interest only in the amount of $4,998 commenced on August 1, 2024, and continue until July 1, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $130,000 second position note owing by Mopane to Belladonna Lily Investments, Inc. (“Belladonna”), whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $650 or more on the 1st day of each month beginning on the 1st day of July 2024 and continuing until the 30th day of June 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.   On June 27, 2024, we completed another acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 1460 North Eastern Avenue in Los Angeles (“Mopane”). The property was partially vacant at time of purchase. The acquisition was for $670,000 (“Purchase Price”). Terms of the acquisition as follows: (1) A first position note with payment on principal balance of $603,000 issued by the Property Owner, Mopane, owing to lender, LendingOne, LLC, bearing interest at 10% per annum, based on a 30/360 day year. Interest only payments in monthly installments of $4,774, or more, commenced August 1, 2024, and continue until April 1, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $175,000 second position note owing by Mopane to Belladonna, whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $750 or more on the 1st day of each month beginning on the 1st day of July 2024 and continuing until the 30th day of June 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.   On May 8, 2024, we completed an acquisition, through our subsidiary Mopane Investments, LLC, the real property located at 4700 S. Budlong Avenue in Los Angeles (“Mopane”). The property was vacant at time of purchase. The acquisition was for $649,000 (“Purchase Price”). Terms of the acquisition as follows: (1) A first position note with payment on principal balance of $594,150 issued by the Property Owner, Mopane, owing to lender, Center Street Lending VIII SPR, LLC, bearing interest at the rate of 10.99% per annum, based on a daily rate of 360 days per year. Payable in monthly interest only installments of $4,984 or more starting on June 1, 2024, and continuing until April 15, 2025, at which time the entire principal balance together with interest due thereon, shall become due and payable. (2) A $175,000 second position note owing by Mopane to Belladonna, whose terms of payments due were interest only, payable on unpaid principal at the rate of 6.00% per annum. Interest only payable in monthly installments of $875 or more on the 1st day of each month beginning on the 1st day of May 2024 and continuing until the 31st day of March 2029, at which time the entire principal balance together with interest due thereon, shall become due and payable.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)   Schedule of Real Estate   The Company’s real estate investments consisted of the following at June 30, 2024 and December 31, 2023:   Schedule of Real Estate       June 30, 2024     December 31, 2023   Land   $ 12,933,049     $ 11,800,304   Buildings and capital improvements     6,508,628       5,458,695   Property acquisition and financing     423,477       296,463   Real estate gross     19,865,154       17,555,462   Less: accumulated depreciation     (857,479 )     (762,406 ) Total real estate, net   $ 19,007,675     $ 16,793,056     Depreciation and amortization expense totalled $95,073 and $113,004 for the six months ended June 30, 2024 and 2023, respectively.   Summary of Changes in Real Estate Investments   The change in the real estate investments is as follows for the six months ended June 30, 2024 and the year ended December 31, 2023:   Summary of Changes in Real Estate Property Investments       Six months ended     Year ended       June 30, 2024     December 31, 2023                 Balance, prior period   $ 17,555,462     $ 17,555,462   Acquisitions:     2,029,000       -   Real estate investment property, at cost     19,584,462       17,555,462   Current period capital improvements and property acquisition costs     280,692       -   Balance, end of period   $ 19,865,154     $ 17,555,462

v3.24.2.u1

Security Deposits	6 Months Ended
	Jun. 30, 2024
Security Deposits
Security Deposits	Note 6 – Security Deposits   Security deposits included the following as of June 30, 2024 and December 31, 2023, respectively:  Schedule of Security Deposits     June 30, 2024     December 31, 2023   Down payment on purchase of properties   $ 25,000     $ -   Security deposits on office lease     6,600        6,600   Security deposits   $ 31,600     $ 6,600

v3.24.2.u1

Due to Related Party	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Due to Related Party	Note 7 – Due to Related Party   As of June 30, 2024 and December 31, 2023, Jacaranda Investments, Inc., had provided total advances of $474,271. These advances are unsecured and do not carry a contractual interest rate or repayment terms. In connection with these advances, the Company has recorded imputed interest charges of $44,832 and $26,009 for the six months ended June 30, 2024 and 2023, respectively, which was credited to additional paid-in capital.

v3.24.2.u1

Mortgages Payable, Related Party	6 Months Ended
	Jun. 30, 2024
Mortgages Payable Related Party
Mortgages Payable, Related Party	Note 8 – Mortgages Payable, Related Party   The Company’s mortgages payable to related parties are as follows:   Schedule of Mortgages Payable to Related Parties       Principal balance                  June 30,     December 31,     Stated     Maturity       2024     2023     Interest Rate     Date   2909 South Catalina Street   $ 599,594     $ 599,594     6.00%     April 20, 2029     On April 10, 2017, Esteban Coaloa loaned the Company $655,000 via an All Inclusive Trust Deed (“AITD”) as part of the purchase of 2909 S. Catalina Street, Los Angeles, California. This loan is considered a related party loan due to Esteban Coaloa’s preferred stock holdings. If converted to common stock at the current share price, the conversion would result in Mr. Coaloa owning > 5% of the Company’s outstanding common stock. This is an interest only promissory note with principal due on April 20, 2029. A total of $40,643 of accrued interest was owed and outstanding on this loan at June 30, 2024.   The Company recognized $17,939 and $17,988 of interest expense on notes payable for the six months ended June 30, 2024 and 2023, respectively.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)

v3.24.2.u1

Mortgages Payable	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Mortgages Payable	Note 9 - Mortgages Payable   Mortgages payable consists of the following at June 30, 2024 and December 31, 2023, respectively:    Schedule of Mortgages Payable                       Interest Rate             Principal Balance                             December 31,       Stated     Maturity       June 30, 2024       2023       Interest Rate     Date 3711 South Western Avenue   $ 643,585     $ 643,585       5.00 %   December 1, 2029 3910 Walton Avenue     524,072       529,258       5.00 %   August 1, 2049 3910 Wisconsin Street     673,777       679,788       5.225 %   March 1, 2052 1557 West 29 Street     588,158       593,956       4.975 %   June 1, 2051 1267 West 38 Street     590,856       596,195       4.95 %   June 1, 2051 4016 Dalton Avenue     594,567       600,038       4.975 %   June 1, 2051 1618 West 38 Street                             -First Note     473,759       477,482       6.30 %   January 1, 2050 -Second Note     150,000       150,000       6.00 %   December 10, 2025 1981 Estrella Avenue     875,917       883,908       5.225 %   June 1, 2051 717 West 42 Place                             -First Note     334,567       335,167       6.85 %   November 1, 2048 -Second Note     134,968       134,968       6.85 %   April 30, 2029 2115 Portland Street     993,750       902,214       7.25 %   July 1, 2054 3906 Denker                             -First Note     392,010       395,159       6.00 %   March 1, 2050 -Second Note     185,000       185,000       6.85 %   February 14, 2025 3408 Budlong                             -First Note     592,771       598,527       4.875 %   December 1, 2051 -Second Note     120,000       120,000       5.00 %   November 1, 2029 3912 S. Hill Street                             -First Note     492,649       496,174       6.425 %   December 1, 2050 -Second Note     152,000       152,000       6.425 %   November 1, 2026 4009 Brighton Avenue     702,028       708,367       4.875 %   November 1, 2051 3908 Denker Avenue     615,073       620,547       4.975 %   December 1, 2051 4021 Halldale Avenue     750,636       755,111       6.75 %   October 1, 2052 1284 W. 38th Street                             -First Note     631,249       637,267       4.625 %   March 1, 2052 -Second Note     188,000       188,000       5.25 %   June 30, 2029 4505 Orchard Avenue     631,720       637,567       5.00 %   March 1, 2052 3777 Ruthelen Street     692,670       699,061       4.625 %   March 1, 2052 3791 S. Normandie Avenue                             -First Note     601,829       606,567       5.225 %   April 1, 2052 -Second Note     150,000       150,000       5.00 %   March 1, 2029 2029 W. 41st Place     820,000       820,000       6.00 %   December 31, 2029 4517 Orchard Avenue                             -First Note     467,922       471,632       5.225 %   April 1, 2052 -Second Note     158,000       158,000       5.00 %   March 1, 2029 1733 W. 37th Place                             -First Note     594,064       573,167       7.225 %   April 1, 2054 -Second Note     100,000       100,000       6.00 %   May 1, 2029 4700 S. Budlong Ave                             -First Note     594,150       -       10.99 %   April 15, 2025 -Second Note     175,000       -       6.00 %   March 31, 2029 1457 W. 35th Street                             -First Note     624,750       -       10 %   July 1, 2025 -Second Note     130,000       -       6.00 %   June 30, 2029 1460 N. Eastern Avenue                             -First Note     603,000       -       9.50 %   April 1, 2025 -Second Note     175,000       -       6.00 %   June 30, 2029                               Hubilu General Loan     275,000       275,000       0.00 %   On Demand                               Total mortgages payable   $ 18,192,497     $ 15,873,705               Less: current maturities     2,210,810       768,961               Mortgages payable, long-term portion   $ 15,981,687     $ 15,104,744                 In addition to the mortgages incurred on current period property acquisitions disclosed in Note 5, the Company refinanced the following debts:   On June 14, 2024, the first and second note for 2115 Portland Street was refinanced for $993,750 with Ameritrust Mortgage, Corp., bearing interest on unpaid principal at the rate of 7.25% per annum. Principal and interest payable in monthly installments of $6,779 or more commenced on August 1, 2024, and continue until July 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.   On March 16, 2024, the first note for 1733 W. 37th Place was refinanced for $595,000 with Investor Mortgage Finance, LLC, bearing interest at the rate of 7.225% per annum. Principal and interest payable in monthly installments of $4,049 commenced on May 1, 2024, and continue until April 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.   The Company realized a $63,403 loss on early extinguishment of debt related to refinancing notes payable during the six months ended June 30, 2024.   The Company recognized $513,232 and $471,199 of interest expense on notes payable for the six months ended June 30, 2024 and 2023, respectively.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)

v3.24.2.u1

Convertible Preferred Stock Payable	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Convertible Preferred Stock Payable	Note 10 – Convertible Preferred Stock Payable   The Company has authorized 10,000,000 shares of preferred stock, and designated 100,000 and 2,000,000 shares of 5% voting, cumulative convertible Series A (“Series A”) and Series 1 (“Series 1”) preferred stock (collectively, “Preferred Stock”), respectively.   The Series A matures on September 30, 2030, and Series 1 matures on September 30, 2029.   The Preferred Stock has the following rights and privileges:   Voting – The holders of the Preferred Stock shall be entitled to the number of votes equal to the number of shares of common stock into which such shares of Preferred Stock could be converted.   Conversion – Each share of Series A preferred stock, is convertible at the option of the holder, into shares of common stock, equal to three hundred thirty-three and 33/100 (333 1/3) shares of common stock, calculated by dividing the number of Series A preferred shares by $0.003. The Series A preferred stock is also subject to certain adjustments for dilution, if any, resulting from future stock issuances, including for any subsequent issuance of common stock at a price per share less than that paid by the holders of the preferred stock.   Each share of Series 1 preferred stock, is convertible at the option of the holder, into shares of common stock, at the lesser of $0.50 per share or a ten percent (10%) discount to the average closing bid price of the common stock 5 days prior to the notice of conversion. The Series 1 preferred stock is also subject to certain adjustments for dilution, if any, resulting from future stock issuances, including for any subsequent issuance of common stock at a price per share less than that paid by the holders of the preferred stock.   Dividends – The holders of the Preferred Stock in preference to the holders of common stock, are entitled to receive dividends at the rate of 5% per annum, in kind, which shall accrue quarterly. Such dividends are cumulative. No such dividends have been declared to date.   Liquidation – In the event of any liquidation, dissolution, winding-up or sale or merger of the Company, whether voluntarily or involuntarily, each holder of Preferred Stock is entitled to receive, in preference to the holders of common stock, a per-share amount equal to the original issue price of $1.00 (as adjusted, as defined), plus all declared but unpaid dividends.   The predominant settlement obligation of the convertible preferred stock was considered to be the issuance of a variable number of shares to settle a fixed monetary amount. Thus, these shares are scoped into the guidance of ASC 480-10 and are accounted for as a liability.   No shares of Series A preferred stock have been issued to date. Outstanding Series 1 preferred stock is as follows:    Schedule of Outstanding Series 1 Preferred Stock     Shares     Amount     Dividend in Arrears     Total                             Balance, December 31, 2023     520,400     $ 520,400     $ 179,463     $ 699,863   Dividends accrued     -       -       12,938       12,938   Balance, June 30, 2024     520,400     $ 520,400     $ 192,401     $ 712,801

v3.24.2.u1

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11 – Commitments and Contingencies   Legal Matters   From time to time, the Company may be a party to various legal matters, threatened claims, or proceedings in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with its legal counsel, the need to record a liability for litigation and contingencies. Legal accruals are recorded when and if it is determined that a loss related to a certain matter is both probable and reasonably estimable.

v3.24.2.u1

Changes in Stockholders’ Equity (Deficit)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Changes in Stockholders’ Equity (Deficit)	Note 12 – Changes in Stockholders’ Equity (Deficit)   Common Stock   The Company has authorized 100,000,000 shares of $0.001 par value common stock. As of June 30, 2024, a total of 26,237,125 shares of common stock had been issued. Each holder of common stock is entitled to one vote for each share of common stock held.   No shares of common stock were issued during the six months ended, June 30, 2024.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)

v3.24.2.u1

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 13 – Income Taxes   The Company accounts for income taxes under FASB ASC 740-10, which requires use of the liability method. FASB ASC 740-10-25 provides that deferred tax assets and liabilities are recorded based on the differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, referred to as temporary differences.   For the six months ended June 30, 2024, and the year ended December 31, 2023, the Company incurred a net operating loss and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. At June 30, 2024, the Company had approximately $1,472,000 of federal net operating losses. The net operating loss carry forwards, if not utilized, will begin to expire in 2025.   Based on the available objective evidence, including the Company’s history of its loss, management believes it is more likely than not that the net deferred tax assets will not be fully realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at June 30, 2024 and December 31, 2023, respectively.   In accordance with FASB ASC 740, the Company has evaluated its tax positions and determined there are no uncertain tax positions.

v3.24.2.u1

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 14 - Subsequent Events   Property Acquisitions   On July 25, 2024, the Company, through its subsidiary, Mopane Investments, LLC, signed a contract to purchase the real property located at 802 E. 25th Street in Los Angeles, California for $650,000. The acquisition is scheduled to close on approximately August 16, 2024.   Investments   On July 2, 2024, the Company closed on a Short Form Equity Stake and Investment Agreement (“Investment Agreement”) with Gula World, Gula Health Inc., and Gaya Ventures Inc, collectively referred to as (the “Gula Entities”), a conglomerate of spiritual and health-based product and services companies. The Investment Agreement required the Company to purchase Thirty-Two Thousand, Nine Hundred and Forty Dollars ($32,940) into the Gula Entities for a Four (4%) percent Non-Diluted Ownership Interest (“NDOI”) in the Gula Entities. Also included in the purchase are any and all assets and axillary products and companies that are owned, planned or may arise from the Gula Entities’ operations. Pursuant to the 4% NDOI purchased, the Company received the following interests in the Gula Entities (collectively referred to as, “Stock”):   Gaya Ventures Inc - 4,000,000 shares of Common Stock; $0.50 par value Gaya Ventures Inc - 4 shares of Preferred Stock; $1.00 par value Gula Heath Inc - 400,000 shares of Preferred Stock; $0.50 par value Gula World - 400,000 shares of Common Stock; $1.50 par value   The Company did not receive voting rights for its NDOI. The Company also has the right to purchase an additional 13% NDOI in the Gula Entities over the following five-month period as follows:   $32,940 invested August 1, 2024 = 4% NDOI $24,705 invested September 1, 2024 = 3% NDOI $24,705 invested October 1, 2024 = 3% NDOI $12,352 invested November 1, 2024 = 1.5% NDOI $12,353 invested December 1, 2024 = 1.5% NDOI   If any of the Gula Entities issue any Stock before December 1, 2024, to any party (“Third Party”), besides Hubilu, the Gula Entities will issue Stock to Hubilu of at least Hubilu’s ownership interest at the time the Gula Entities issues the Stock to the Third Party. In the event Hubilu invests a total of $140,000 in the Gula Entities by December 1, 2024, Hubilu will be issued Stock equal to 17% of the Stock issued to Third Party.   In addition, the Company will be entitled to 50% of all sales generated from a referral program called, “Gift a Friend” (“GAF”), or similar named link that generates customer contact information from the Gulaworld.com website to the Gula Entities as part of any membership sales and/or products sold by the Gula Entities to its customers, net of their shipping costs and/or cost of service (“Royalties”).   Alternatively, the Company may elect to receive additional Stock on a Non-Dilutive basis as payment of Royalties in lieu of cash. This additional Stock received in the Gula Entities would include voting rights. Royalties are to be calculated on a quarterly basis.

v3.24.2.u1

Nature of Business and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business   Hubilu Venture Corporation (“the Company,” “we,” “our” or “us”) was incorporated under the laws of the state of Delaware on March 2, 2015 and is a real estate consulting, asset management and business acquisition company, which specializes in acquiring student housing and corporate income properties and development/business opportunities located near the Los Angeles Metro/subway stations and within the Los Angeles area.
Basis of Presentation	Basis of Presentation   The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and the rules of the Securities and Exchange Commission (SEC). Intercompany accounts and transactions have been eliminated.   The unaudited condensed consolidated financial statements of the Company and the accompanying notes included in this Quarterly Report on Form 10-Q are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the Condensed Consolidated Financial Statements have been included. Such adjustments are of a normal, recurring nature. The Condensed Consolidated Financial Statements, and the accompanying notes, are prepared in accordance with GAAP and do not contain certain information included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The interim Condensed Consolidated Financial Statements should be read in conjunction with that Annual Report on Form 10-K. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.
Principles of Consolidation	Principles of Consolidation   The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at June 30, 2024:  Schedule of Common Control and Ownership     State of       Name of Entity   Incorporation   Relationship   Hubilu Venture Corporation(1)     Delaware     Parent   Akebia Investments, LLC(2)     Wyoming     Subsidiary   Boabab Investments, LLC(2)     Wyoming     Subsidiary   Elata Investments, LLC(2)     Wyoming     Subsidiary   Kapok Investments, LLC(2)     Wyoming     Subsidiary   Lantana Investments, LLC(2)     Wyoming     Subsidiary   Mopane Investments, LLC(2)     Wyoming     Subsidiary   Sunza Investments, LLC(2)     Wyoming     Subsidiary   Trilosa Investments, LLC(2)     Wyoming     Subsidiary   Zinnia Investments, LLC(2)     Wyoming     Subsidiary       (1) Holding company in the form of a corporation.   (2) Wholly-owned subsidiary in the form of a limited liability corporation.
Reclassifications	Reclassifications   Certain reclassifications have been made to the prior years’ financial statements to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)
Use of Estimates	Use of Estimates   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.
Segment Reporting	Segment Reporting   ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments   The Company discloses the fair value of certain assets and liabilities in accordance with ASC 820 – Fair Value Measurement and Disclosures (ASC 820). Under ASC 820-10-05, the FASB establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. This Statement reaffirms that fair value is the relevant measurement attribute. The adoption of this standard did not have a material effect on the Company’s financial statements as reflected herein. The carrying amounts of cash, accounts receivable, accounts payable and accrued expenses reported on the balance sheets are estimated by management to approximate fair value primarily due to the short-term nature of the instruments.
Revenue Recognition	Revenue Recognition   The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customer. Under ASC 606, the Company recognizes revenue from leases with its various tenants under operating leases in accordance with a five-step model in which the Company evaluates the performance obligations in an amount that reflects the consideration which the Company expects to be entitled to receive in exchange for those services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, the Company performs the following five steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation.   The Company’s sales are predominantly generated from leasing its properties to various tenants under operating leases. These sales contain a single performance obligation, and revenue is recognized on a straight-line basis using the effective interest method, based on the Company’s borrowing rate, over the life of the leases. The Company records adjustments to revenue for incidentals and move out, or janitorial reimbursements in the same period that the related revenue is recorded.
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share   The basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing the net loss adjusted on an “as if converted” basis, by the weighted average number of common shares outstanding plus potential dilutive securities. For the periods presented, potential dilutive securities had an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.
Recent Accounting Pronouncements	Recent Accounting Pronouncements   From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption.

v3.24.2.u1

Nature of Business and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Common Control and Ownership	The accompanying consolidated financial statements include the accounts of the following entities, all of which were under common control and ownership at June 30, 2024:  Schedule of Common Control and Ownership     State of       Name of Entity   Incorporation   Relationship   Hubilu Venture Corporation(1)     Delaware     Parent   Akebia Investments, LLC(2)     Wyoming     Subsidiary   Boabab Investments, LLC(2)     Wyoming     Subsidiary   Elata Investments, LLC(2)     Wyoming     Subsidiary   Kapok Investments, LLC(2)     Wyoming     Subsidiary   Lantana Investments, LLC(2)     Wyoming     Subsidiary   Mopane Investments, LLC(2)     Wyoming     Subsidiary   Sunza Investments, LLC(2)     Wyoming     Subsidiary   Trilosa Investments, LLC(2)     Wyoming     Subsidiary   Zinnia Investments, LLC(2)     Wyoming     Subsidiary       (1) Holding company in the form of a corporation.   (2) Wholly-owned subsidiary in the form of a limited liability corporation.

v3.24.2.u1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Valuation of Financial Instruments at Fair Value Recurring Basis	The following schedule summarizes the valuation of financial instruments at fair value on a recurring basis in the balances sheet as of June 30, 2024 and December 31, 2023:    Schedule of Valuation of Financial Instruments at Fair Value Recurring Basis   Level 1     Level 2     Level 3     Fair Value Measurements at June 30, 2024     Level 1     Level 2     Level 3   Assets                   Cash   $ 135,798     $ -     $ -   Total assets       135,798       -       -   Liabilities                         Due to related party     -       474,271       -   Mortgages payable, related party     -       599,594       -   Mortgages payable     -       18,192,497       -   Dividends payable     -       192,401       -   Convertible preferred stock payable     -       -       520,400   Total liabilities     -       19,458,763       520,400   Net asset (liabilities)   $ 135,798     $ (19,458,763 )   $ (520,400 )     HUBILU VENTURE CORPORATION Notes to Condensed Consolidated Financial Statements (Unaudited)       Level 1     Level 2     Level 3     Fair Value Measurements at December 31, 2023       Level 1     Level 2     Level 3   Assets                   Cash   $ 24,564     $ -     $ -   Total assets     24,564       -       -   Liabilities                         Due to related party     -       474,271       -   Mortgages payable, related party     -       599,594       -   Mortgages payable     -       15,873,705       -   Dividends payable     -       179,463       -   Convertible preferred stock payable     -       -       520,400   Total liabilities     -       17,127,033       520,400   Net asset (liability)   $ 24,564     $ (17,127,033 )   $ (520,400 )

v3.24.2.u1

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2024
Real Estate [Abstract]
Schedule of Real Estate	The Company’s real estate investments consisted of the following at June 30, 2024 and December 31, 2023:   Schedule of Real Estate       June 30, 2024     December 31, 2023   Land   $ 12,933,049     $ 11,800,304   Buildings and capital improvements     6,508,628       5,458,695   Property acquisition and financing     423,477       296,463   Real estate gross     19,865,154       17,555,462   Less: accumulated depreciation     (857,479 )     (762,406 ) Total real estate, net   $ 19,007,675     $ 16,793,056
Summary of Changes in Real Estate Property Investments	The change in the real estate investments is as follows for the six months ended June 30, 2024 and the year ended December 31, 2023:   Summary of Changes in Real Estate Property Investments       Six months ended     Year ended       June 30, 2024     December 31, 2023                 Balance, prior period   $ 17,555,462     $ 17,555,462   Acquisitions:     2,029,000       -   Real estate investment property, at cost     19,584,462       17,555,462   Current period capital improvements and property acquisition costs     280,692       -   Balance, end of period   $ 19,865,154     $ 17,555,462

v3.24.2.u1

Security Deposits (Tables)	6 Months Ended
	Jun. 30, 2024
Security Deposits
Schedule of Security Deposits	Security deposits included the following as of June 30, 2024 and December 31, 2023, respectively:  Schedule of Security Deposits     June 30, 2024     December 31, 2023   Down payment on purchase of properties   $ 25,000     $ -   Security deposits on office lease     6,600        6,600   Security deposits   $ 31,600     $ 6,600

v3.24.2.u1

Mortgages Payable, Related Party (Tables)	6 Months Ended
	Jun. 30, 2024
Mortgages Payable Related Party
Schedule of Mortgages Payable to Related Parties	The Company’s mortgages payable to related parties are as follows:   Schedule of Mortgages Payable to Related Parties       Principal balance                  June 30,     December 31,     Stated     Maturity       2024     2023     Interest Rate     Date   2909 South Catalina Street   $ 599,594     $ 599,594     6.00%     April 20, 2029

v3.24.2.u1

Mortgages Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Mortgages Payable	Mortgages payable consists of the following at June 30, 2024 and December 31, 2023, respectively:    Schedule of Mortgages Payable                       Interest Rate             Principal Balance                             December 31,       Stated     Maturity       June 30, 2024       2023       Interest Rate     Date 3711 South Western Avenue   $ 643,585     $ 643,585       5.00 %   December 1, 2029 3910 Walton Avenue     524,072       529,258       5.00 %   August 1, 2049 3910 Wisconsin Street     673,777       679,788       5.225 %   March 1, 2052 1557 West 29 Street     588,158       593,956       4.975 %   June 1, 2051 1267 West 38 Street     590,856       596,195       4.95 %   June 1, 2051 4016 Dalton Avenue     594,567       600,038       4.975 %   June 1, 2051 1618 West 38 Street                             -First Note     473,759       477,482       6.30 %   January 1, 2050 -Second Note     150,000       150,000       6.00 %   December 10, 2025 1981 Estrella Avenue     875,917       883,908       5.225 %   June 1, 2051 717 West 42 Place                             -First Note     334,567       335,167       6.85 %   November 1, 2048 -Second Note     134,968       134,968       6.85 %   April 30, 2029 2115 Portland Street     993,750       902,214       7.25 %   July 1, 2054 3906 Denker                             -First Note     392,010       395,159       6.00 %   March 1, 2050 -Second Note     185,000       185,000       6.85 %   February 14, 2025 3408 Budlong                             -First Note     592,771       598,527       4.875 %   December 1, 2051 -Second Note     120,000       120,000       5.00 %   November 1, 2029 3912 S. Hill Street                             -First Note     492,649       496,174       6.425 %   December 1, 2050 -Second Note     152,000       152,000       6.425 %   November 1, 2026 4009 Brighton Avenue     702,028       708,367       4.875 %   November 1, 2051 3908 Denker Avenue     615,073       620,547       4.975 %   December 1, 2051 4021 Halldale Avenue     750,636       755,111       6.75 %   October 1, 2052 1284 W. 38th Street                             -First Note     631,249       637,267       4.625 %   March 1, 2052 -Second Note     188,000       188,000       5.25 %   June 30, 2029 4505 Orchard Avenue     631,720       637,567       5.00 %   March 1, 2052 3777 Ruthelen Street     692,670       699,061       4.625 %   March 1, 2052 3791 S. Normandie Avenue                             -First Note     601,829       606,567       5.225 %   April 1, 2052 -Second Note     150,000       150,000       5.00 %   March 1, 2029 2029 W. 41st Place     820,000       820,000       6.00 %   December 31, 2029 4517 Orchard Avenue                             -First Note     467,922       471,632       5.225 %   April 1, 2052 -Second Note     158,000       158,000       5.00 %   March 1, 2029 1733 W. 37th Place                             -First Note     594,064       573,167       7.225 %   April 1, 2054 -Second Note     100,000       100,000       6.00 %   May 1, 2029 4700 S. Budlong Ave                             -First Note     594,150       -       10.99 %   April 15, 2025 -Second Note     175,000       -       6.00 %   March 31, 2029 1457 W. 35th Street                             -First Note     624,750       -       10 %   July 1, 2025 -Second Note     130,000       -       6.00 %   June 30, 2029 1460 N. Eastern Avenue                             -First Note     603,000       -       9.50 %   April 1, 2025 -Second Note     175,000       -       6.00 %   June 30, 2029                               Hubilu General Loan     275,000       275,000       0.00 %   On Demand                               Total mortgages payable   $ 18,192,497     $ 15,873,705               Less: current maturities     2,210,810       768,961               Mortgages payable, long-term portion   $ 15,981,687     $ 15,104,744

v3.24.2.u1

Convertible Preferred Stock Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Outstanding Series 1 Preferred Stock	Schedule of Outstanding Series 1 Preferred Stock     Shares     Amount     Dividend in Arrears     Total                             Balance, December 31, 2023     520,400     $ 520,400     $ 179,463     $ 699,863   Dividends accrued     -       -       12,938       12,938   Balance, June 30, 2024     520,400     $ 520,400     $ 192,401     $ 712,801

v3.24.2.u1

Schedule of Common Control and Ownership (Details)	6 Months Ended
	Jun. 30, 2024
Name of Entity	Hubilu Venture Corporation
State of Incorporation	DE
Hubilu Venture Corporation [Member]
Name of Entity	Hubilu Venture Corporation	[1]
State of Incorporation	DE	[1]
Relationship	Parent	[1]
Akebia Investments, LLC [Member]
Name of Entity	Akebia Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Boabab Investments LLC [Member]
Name of Entity	Boabab Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Elata Investments, LLC [Member]
Name of Entity	Elata Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Kapok investments LLC [Member]
Name of Entity	Kapok Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Lantana Investments LLC [Member]
Name of Entity	Lantana Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Mopane Investments LLC [Member]
Name of Entity	Mopane Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Sunza Investments LLC [Member]
Name of Entity	Sunza Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Trilosa Investments LLC [Member]
Name of Entity	Trilosa Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
Zinnia Investments LLC [Member]
Name of Entity	Zinnia Investments, LLC	[2]
State of Incorporation	WY	[2]
Relationship	Subsidiary	[2]
[1] Holding company in the form of a corporation. [2] Wholly-owned subsidiary in the form of a limited liability corporation.

v3.24.2.u1

Nature of Business and Significant Accounting Policies (Details Narrative)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity state of incorporation	DE
Date of incorporation	Mar. 02, 2015

v3.24.2.u1

Going Concern (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 135,798	$ 24,564
Working capital	3,138,271
Accumulated deficit	$ 2,183,640	$ 2,120,903

v3.24.2.u1

Significant Concentrations (Details Narrative)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentrations risk percentage	54.00%	64.00%

v3.24.2.u1

Schedule of Valuation of Financial Instruments at Fair Value Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 [Member]
Assets
Cash	$ 135,798	$ 24,564
Total assets	135,798	24,564
Liabilities
Dividends payable
Convertible preferred stock payable
Total liabilities
Net asset (liability)	135,798	24,564
Fair Value, Inputs, Level 1 [Member] | Related Party [Member]
Liabilities
Due to related party
Mortgages payable
Fair Value, Inputs, Level 1 [Member] | Nonrelated Party [Member]
Liabilities
Mortgages payable
Fair Value, Inputs, Level 2 [Member]
Assets
Cash
Total assets
Liabilities
Dividends payable	192,401	179,463
Convertible preferred stock payable
Total liabilities	19,458,763	17,127,033
Net asset (liability)	(19,458,763)	(17,127,033)
Fair Value, Inputs, Level 2 [Member] | Related Party [Member]
Liabilities
Due to related party	474,271	474,271
Mortgages payable	599,594	599,594
Fair Value, Inputs, Level 2 [Member] | Nonrelated Party [Member]
Liabilities
Mortgages payable	18,192,497	15,873,705
Fair Value, Inputs, Level 3 [Member]
Assets
Cash
Total assets
Liabilities
Dividends payable
Convertible preferred stock payable	520,400	520,400
Total liabilities	520,400	520,400
Net asset (liability)	(520,400)	(520,400)
Fair Value, Inputs, Level 3 [Member] | Related Party [Member]
Liabilities
Due to related party
Mortgages payable
Fair Value, Inputs, Level 3 [Member] | Nonrelated Party [Member]
Liabilities
Mortgages payable

v3.24.2.u1

Schedule of Real Estate (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Real Estate [Abstract]
Land	$ 12,933,049	$ 11,800,304
Buildings and capital improvements	6,508,628	5,458,695
Property acquisition and financing	423,477	296,463
Real estate gross	19,865,154	17,555,462
Less: accumulated depreciation	(857,479)	(762,406)
Total real estate, net	$ 19,007,675	$ 16,793,056

v3.24.2.u1

Summary of Changes in Real Estate Property Investments (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Real Estate [Abstract]
Balance, prior period	$ 17,555,462	$ 17,555,462
Acquisitions:	2,029,000
Real estate investment property, at cost	19,584,462	17,555,462
Current period capital improvements and property acquisition costs	280,692
Balance, end of period	$ 19,865,154	$ 17,555,462

v3.24.2.u1

Real Estate (Details Narrative) - USD ($)			6 Months Ended
	Jun. 27, 2024	May 08, 2024	Jun. 30, 2024	Jun. 30, 2023
Asset Acquisition [Line Items]
Depreciation and amortization expense			$ 95,073	$ 113,004
Mopane Investments LLC [Member] | Churchill Funding I, LLC [Member]
Asset Acquisition [Line Items]
Acquisition amount	$ 710,000
Loans, description	(1) A first position note with payment on principal balance of $624,750 issued by the Property Owner, Mopane, owing to lender, Churchill Funding I, LLC
Mopane Investments LLC [Member] | Churchill Funding I, LLC [Member] | First Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount	$ 624,750
Debt instrument periodic payment	4,998
Mopane Investments LLC [Member] | Churchill Funding I, LLC [Member] | Second Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount	130,000
Debt instrument periodic payment	$ 650
Debt instrument interest rate	6.00%
Mopane Investments LLC [Member] | Lending One, LLC [Member]
Asset Acquisition [Line Items]
Acquisition amount	$ 670,000
Loans, description	(1) A first position note with payment on principal balance of $603,000 issued by the Property Owner, Mopane, owing to lender, LendingOne, LLC
Mopane Investments LLC [Member] | Lending One, LLC [Member] | First Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount	$ 603,000
Debt instrument periodic payment	4,774
Mopane Investments LLC [Member] | Lending One, LLC [Member] | Second Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount	175,000
Debt instrument periodic payment	$ 750
Debt instrument interest rate	6.00%
Mopane Investments LLC [Member] | Center Street Lending Eight SPR LLC [Member]
Asset Acquisition [Line Items]
Acquisition amount		$ 649,000
Loans, description		(1) A first position note with payment on principal balance of $594,150 issued by the Property Owner, Mopane, owing to lender, Center Street Lending VIII SPR, LLC,
Mopane Investments LLC [Member] | Center Street Lending Eight SPR LLC [Member] | First Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount		$ 594,150
Debt instrument periodic payment		$ 4,984
Debt instrument interest rate		10.99%
Mopane Investments LLC [Member] | Center Street Lending Eight SPR LLC [Member] | Second Position Note [Member]
Asset Acquisition [Line Items]
Debt instrument face amount		$ 175,000
Debt instrument periodic payment		$ 875
Debt instrument interest rate		6.00%

v3.24.2.u1

Schedule of Security Deposits (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Security Deposits
Down payment on purchase of properties	$ 25,000
Security deposits on office lease	6,600	6,600
Security deposits	$ 31,600	$ 6,600

v3.24.2.u1

Due to Related Party (Details Narrative) - Related Party [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Advances from related party	$ 474,271		$ 474,271
Interest charges	$ 44,832	$ 26,009

v3.24.2.u1

Schedule of Mortgages Payable to Related Parties (Details) - 2909 South Catalina Street [Member] - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Principal balance	$ 599,594	$ 599,594
Interest rate	6.00%
Maturity date	Apr. 20, 2029

v3.24.2.u1

Mortgages Payable, Related Party (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Apr. 10, 2017
Defined Benefit Plan Disclosure [Line Items]
Accrued interest	$ 64,421		$ 39,402
Interest expense on notes payable	17,939	$ 17,988
Esteban Coaloa Family Trust [Member]
Defined Benefit Plan Disclosure [Line Items]
Loan payable				$ 655,000
Accrued interest	$ 40,643

v3.24.2.u1

Schedule of Mortgages Payable (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Total mortgages payable	$ 18,192,497	$ 15,873,705
Current maturities	2,210,810	768,961
Mortgages payable, long-term portion	$ 15,981,687	15,104,744
3711 South Western Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 643,585	643,585
Maturity date	Dec. 01, 2029
3910 Walton Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 524,072	529,258
Maturity date	Aug. 01, 2049
3910 Wisconsin Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.225%
Principal balance	$ 673,777	679,788
Maturity date	Mar. 01, 2052
1557 West 29 Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.975%
Principal balance	$ 588,158	593,956
Maturity date	Jun. 01, 2051
1267 West 38 Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.95%
Principal balance	$ 590,856	596,195
Maturity date	Jun. 01, 2051
4016 Dalton Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.975%
Principal balance	$ 594,567	600,038
Maturity date	Jun. 01, 2051
1618 West 38 Street - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.30%
Principal balance	$ 473,759	477,482
Maturity date	Jan. 01, 2050
1618 West 38 Street - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 150,000	150,000
Maturity date	Dec. 10, 2025
1981 Estrella Ave [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.225%
Principal balance	$ 875,917	883,908
Maturity date	Jun. 01, 2051
717 West 42 Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.85%
Principal balance	$ 334,567	335,167
Maturity date	Nov. 01, 2048
717 West 42 Place - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.85%
Principal balance	$ 134,968	134,968
Maturity date	Apr. 30, 2029
2115 Portland Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	7.25%
Principal balance	$ 993,750	902,214
Maturity date	Jul. 01, 2054
3906 Denker - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 392,010	395,159
Maturity date	Mar. 01, 2050
3906 Denker Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.85%
Principal balance	$ 185,000	185,000
Maturity date	Feb. 14, 2025
3408 S. Budlong - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.875%
Principal balance	$ 592,771	598,527
Maturity date	Dec. 01, 2051
3408 S. Budlong - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 120,000	120,000
Maturity date	Nov. 01, 2029
3912 S. Hill Street - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.425%
Principal balance	$ 492,649	496,174
Maturity date	Dec. 01, 2050
3912 S. Hill Street - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.425%
Principal balance	$ 152,000	152,000
Maturity date	Nov. 01, 2026
4009 Brighton Avenue[Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.875%
Principal balance	$ 702,028	708,367
Maturity date	Nov. 01, 2051
3908 Denker Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.975%
Principal balance	$ 615,073	620,547
Maturity date	Dec. 01, 2051
4021 Halldale Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.75%
Principal balance	$ 750,636	755,111
Maturity date	Oct. 01, 2052
1284 W. 38th Street First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.625%
Principal balance	$ 631,249	637,267
Maturity date	Mar. 01, 2052
1284 W. 38th Street Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.25%
Principal balance	$ 188,000	188,000
Maturity date	Jun. 30, 2029
4505 Orchard Avenue [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 631,720	637,567
Maturity date	Mar. 01, 2052
3777 Ruthelen Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	4.625%
Principal balance	$ 692,670	699,061
Maturity date	Mar. 01, 2052
3791 S. Normandie Avenue - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.225%
Principal balance	$ 601,829	606,567
Maturity date	Apr. 01, 2052
3791 S. Normandie Avenue - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 150,000	150,000
Maturity date	Mar. 01, 2029
2029 W. 41st Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 820,000	820,000
Maturity date	Dec. 31, 2029
4517 Orchard Avenue - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.225%
Principal balance	$ 467,922	471,632
Maturity date	Apr. 01, 2052
4517 Orchard Avenue - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	5.00%
Principal balance	$ 158,000	158,000
1733 W. 37th Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	7.225%
Principal balance	$ 594,064	573,167
Maturity date	Apr. 01, 2054
1733 W. 37th Place - Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 100,000	100,000
Maturity date	May 01, 2029
4700 S Budlong Ave First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	10.99%
Principal balance	$ 594,150
Maturity date	Apr. 15, 2025
4700 S Budlong Ave Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 175,000
Maturity date	Mar. 31, 2029
1457 W 35th Street [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	10.00%
Principal balance	$ 624,750
Maturity date	Jul. 01, 2025
1457 W. 35th Street Second Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 130,000
Maturity date	Jun. 30, 2029
1460 N Eastern Avenue First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	9.50%
Principal balance	$ 603,000
Maturity date	Apr. 01, 2025
1460 N Eastern Avenue First Second [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	6.00%
Principal balance	$ 175,000
Maturity date	Jun. 30, 2029
Hubilu- General Loan [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Interest Rate	0.00%
Principal balance	$ 275,000	$ 275,000

v3.24.2.u1

Mortgages Payable (Details Narrative) - USD ($)			3 Months Ended		6 Months Ended
	Jun. 14, 2024	Mar. 16, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
extinguishment of debt			$ 55,656		$ 63,403
Interest expense on notes payable					17,939	17,988
2115 Portland Street [Member] | Visio Financial Services Inc [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Refinanced amount	$ 993,750
Interest on unpaid principal rate	7.25%
Principal and interest payable, description	Principal and interest payable in monthly installments of $6,779 or more commenced on August 1, 2024, and continue until July 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.
Principal and interest payable	$ 6,779
1733 W. 37th Place - First Note [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Refinanced amount			594,064		$ 594,064		$ 573,167
Interest on unpaid principal rate					7.225%
1733 W. 37th Place - First Note [Member] | Visio Financial Services Inc [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Refinanced amount		$ 595,000
Interest on unpaid principal rate		7.225%
Principal and interest payable, description		Principal and interest payable in monthly installments of $4,049 commenced on May 1, 2024, and continue until April 1, 2054, at which time the entire principal balance together with interest due thereon, shall become due and payable.
Principal and interest payable		$ 4,049
Hubilu- General Loan [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Refinanced amount			$ 275,000		$ 275,000		$ 275,000
Interest on unpaid principal rate					0.00%
Interest expense on notes payable					$ 513,232	$ 471,199

v3.24.2.u1

Schedule of Outstanding Series 1 Preferred Stock (Details) - Preferred Stock [Member]	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares outstanding, beginning balance | shares	520,400
Preferred stock, value outstanding, beginning balance	$ 520,400
Preferred stock number of shares dividends accrued | shares
Preferred stock amount of preferred dividends in arrears
Preferred stock, shares outstanding, ending balance | shares	520,400
Preferred stock, value outstanding, ending balance	$ 520,400
Dividend in Arrears [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, value outstanding, beginning balance	179,463
Preferred stock amount of preferred dividends in arrears	12,938
Preferred stock, value outstanding, ending balance	192,401
Settlement Obligation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, value outstanding, beginning balance	699,863
Preferred stock amount of preferred dividends in arrears	12,938
Preferred stock, value outstanding, ending balance	$ 712,801

v3.24.2.u1

Convertible Preferred Stock Payable (Details Narrative)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Preferred Stock [Member]
Class of Stock [Line Items]
Dividend rate	5.00%
Preferred stock, liquidation preference per share | $ / shares	$ 1.00
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	10,000,000
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	100,000
Series 1 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,000,000
Conversion terms	Each share of Series 1 preferred stock, is convertible at the option of the holder, into shares of common stock, at the lesser of $0.50 per share or a ten percent (10%) discount to the average closing bid price of the common stock 5 days prior to the notice of conversion
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Conversion terms	Each share of Series A preferred stock, is convertible at the option of the holder, into shares of common stock, equal to three hundred thirty-three and 33/100 (333 1/3) shares of common stock, calculated by dividing the number of Series A preferred shares by $0.003

v3.24.2.u1

Changes in Stockholders’ Equity (Deficit) (Details Narrative) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	26,237,125	26,237,125
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares issued	0

v3.24.2.u1

Income Taxes (Details Narrative)	Jun. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Net operating losses	$ 1,472,000

v3.24.2.u1

Subsequent Events (Details Narrative) - USD ($)	Dec. 01, 2024	Jul. 25, 2024	Jul. 02, 2024	Nov. 01, 2024	Oct. 01, 2024	Sep. 01, 2024	Aug. 01, 2024	Jun. 30, 2024	Dec. 31, 2023
Subsequent Event [Line Items]
Common stock par value								$ 0.001	$ 0.001
Forecast [Member]
Subsequent Event [Line Items]
Investment owned Percentage	1.50%			1.50%	3.00%	3.00%
Investments	$ 140,000
Stock issued percentage	17.00%
Gift A Friend [Member] | Forecast [Member]
Subsequent Event [Line Items]
Sale of investment percent	50.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Investment owned cost	$ 12,353			$ 12,352	$ 24,705	$ 24,705	$ 32,940
Investment owned Percentage							4.00%
Subsequent Event [Member] | Gaya Ventures Inc [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Shares issued			4,000,000
Common stock par value			$ 0.50
Subsequent Event [Member] | Gaya Ventures Inc [Member] | Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued			4
Preferred stock par value			$ 1.00
Subsequent Event [Member] | Gula Health Inc [Member] | Preferred Stock [Member]
Subsequent Event [Line Items]
Shares issued			400,000
Common stock par value			$ 0.50
Subsequent Event [Member] | Gula World [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Shares issued			400,000
Subsequent Event [Member] | Gula World Inc [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Common stock par value			$ 1.50
Subsequent Event [Member] | Investment Agreement [Member] | Gula World Gula Health and Gaya Ventures Inc [Member]
Subsequent Event [Line Items]
Equity investment description			the Company closed on a Short Form Equity Stake and Investment Agreement (“Investment Agreement”) with Gula World, Gula Health Inc., and Gaya Ventures Inc, collectively referred to as (the “Gula Entities”), a conglomerate of spiritual and health-based product and services companies. The Investment Agreement required the Company to purchase Thirty-Two Thousand, Nine Hundred and Forty Dollars ($32,940) into the Gula Entities for a Four (4%) percent Non-Diluted Ownership Interest (“NDOI”) in the Gula Entities. Also included in the purchase are any and all assets and axillary products and companies that are owned, planned or may arise from the Gula Entities’ operations.
Subsequent Event [Member] | Mopane Investments LLC [Member]
Subsequent Event [Line Items]
Property acquistion		$ 650,000

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