S-1 filing is a registration statement. UATG has some historical issues that were part of the pubic vehicle that Mr. Umbra's previous team advised him to buy so he would public faster. He mentioned this in previous interviews and expanded upon it during our call. I would also suggest that he is auditing and filing an S-1 so they can uplist to the NASDAQ or NYSE for round B financing because it wouldnt be necessary to go this far if he intended to stay on the pinks. just my opinion. He also expressed his displeasure with OTC recently changing the rules to allow non-audited on companies on the QB board and stated that "he didnt think QB was the place for a company like UATG". He seemed pretty serious about having the company uplist but when pressed he wouldnt expand further. I did get the sense he had a plan and he seemed very confident that the company was uplisting. in fact he is exact words were "This company is uplisting". He was emphatic about that singular point. Not that, that is anything new though. He has said that in many interviews and press releases. I am very curious to see how hes going to pull that off and in fact I told him that what he was proposing was a tall order and while I dont see how that its possible I am pulling for him. The only logical thing I can figure is that he has significant funding lined up that he can only access once on the big boards (although as a fully reporting company he should be able to raise $5-10M on OTC easily), has a merger lined up with an already NYSE/NASDAQ company and then plans to raise $20-30M or a combination of both. I do not think a big contract would necessarily shoot him to the big boards but it would help for sure.
One other thing I remembered he said, when we were talking about the biotech division he did say he was considering "pushing out" Clearview and something else earlier than expected but needed to finish the initial Hygieia launch. Apparently he speaks with several other CEO's of other companies and they all kind of help each other in different non-competing areas. I think one of his CEO buddies brought him something that made him consider selling the devices sooner than expected. Oh, and also apparently the Clearview was part of a company he bought a few years back and was already on the market and he has all those contacts and customers still. He stopped the sale of it to redesign the device and packaging. He mentioned he was able to bring the cost of the device down significantly. Pretty savvy guy when it comes to supply, manufacturing and design. He said he had to learn the hard way but has the right team in place now. He kept mentioning that he intended 2018 to be the year the company finally represents what he envisioned the company to be from the beginning but also said it wold be 5 years before UATG had every division up and running at full capacity. He needs to hire many more people but doesnt want to carry a big payroll because he needs the capital for growth. He said most of the "guys" he has brought in were guys that were running their own companies and wanted to team up with him and that most of them took their compensation in the form of stock none of which has sold any. I think ost of them were obviously pretty successful and dont necessarily need a large or regular paycheck. I think these are the executives and not the regular workers though. Sorry I wasnt more detailed last nigh but it was getting late and this old guy was tired. the rest was mostly just pleasant conversation talking about his children, family and my grandchildren and family. Regular life stuff. very interesting guy though. He is a veteren and was apparently special forces and afterwards worked in intelligence. Thats most of what I remember
