Questions asked of UATG CEO
It was a lot of typing and even though he knew I was writing all this down it still went pretty fast so these are not exact quotes from Mr. Umbra but are accurate answers that I could get down quickly.
1)Are you planning further dilution? He responded, “Further? We have planned no dilution”
2)When do you anticipate uplisting? Application submitted by year end after audits are completed. 3)Audits should be completed by November the latest
4)Additional products? Hygieia casual ankle sock then athletic ankle sock the sheets then potentially a mystery product he won’t discuss. 2018 is slated for diabetic sock, underwear ClearView G2, Aegis and Apex. Sales on medical devices will probably begin in Europe then in U.S. Apparently there is considerable interest out of Europe for UAT medical devices with distributors already contacting them inquiring about be a licensed distributor.
5)Any contracts pending? Can’t disclose that at this time
6)When is S-1 Filed? We plan to file before the end of the year and we anticipate comments to last up to 90 days.
7)Any mergers planned? He is open to a merger if the right partner came along that could help UAT expand
8)When do pre-orders begin? September. Won’t give specific date but said there will be an announcement soon
9)What is the company’s cash position? UAT is highly leveragable and has strong credit. They have instruments in place, credit lines and he has personally guaranteed lines of credit. They have access to cash when needed and moving forward he will be keeping more cash on hand
10)What will be the marketing for Hygieia? Initially it will be social media and internet. Radio has a poor conversion rate and would be more for just branding which he doesn’t think would be a good use of capital. Magazine ads will be in the future and is planned for several products
11)Reverse split? NOT HAPPENING
12)How do you plan to uplist to NASDAQ or NYSE without a reverse split or a merger? “That is a complicated answer and not one I can go into right now. I understand the concern and see where it may sound like a pipe-dream but I assure you that this has been carefully planned, well thought out and has already begun. You have already started to see it in and probably havnt realized it. Increase liquidity and improved metrics is the beginning and it has been significant. This plan will continue through the end of the year. We will meet the requirements to uplist”.
13)What board are you planning to uplist? Plan was to uplist to QB but with recent changes made by OTC we will be looking towards the QX boards
14)How much debt does UAT currently have? “Currently we have approximately $375,000 in debt which is the most we have ever had. I took on more debt to support the Hygieia product line launch. We have targeted the added debt to be paid off by years end. I am not a fan of debt”.
15)Any plans to change share structure? Not at this time
16)When will Everest begin working? Already have
17)Total number of employees? We have streamlined and become more efficient since last year and currently have 16 full-time, 18 part-time and subcontract out to over 35
18)Do you have all the cash you need to launch Hygieia? “We have everything we need and everything is already paid for”
19)Have you looked at the message boards and noticed the comments? “I do not personally monitor message boards or comments but have been told on occasion what the sentiment might be”.
20)There are a few members on one of the boards that I belong to that have said they have known you for years and that you are a con artist in the penny stock market. How would you respond to that? “Well first I would caution lending much credence to anyone who hides behind a nickname as it were or behind what they perceive as insulation that the internet may provide. Then I would say that it is an unfortunate reality in the penny stock market that there are some bad actors that will attempt to spread bad news so that they may short the stock for a few dollars profit which is yet another example of why we will be uplisting. We must. As for any accusations from individuals claiming to know me and accuse me of being a con artist all I can say to that is I seriously doubt they know me at all. I speak with many people, many shareholders every day and will continue to do so. That doesn’t necessarily mean that they actually know me anymore than I know them. For any shareholder who is serious about a long term relationship with this company I would say that the good news is that those who seek to hurt this company through negative attacks will be going away soon enough if for no other reason than their greed will drive them to sell as the price rises and then they wont be able to afford to get back in. I have taken into consideration the cheap stock that is out there and understand the long difficult fight we are up against to get to where we need to be.
