Umbra Applied Technologies Group Inc (UATG)

[Gordo56]

You are making a lot of statements based on the wrong set of facts. We didnt owe debt to Nextcast just for pins. It was a debt from several years ago and it looks like its from when the bought the orthopedic company. NextCast wasnt even around then-look at date of incorporation. Next cast was formed by the people they bought the orthopedic company from and they have held the debt probbly as a favor. If you look at the financials UATG has been paying them. The reason they did the 3a10 filing is to clear the debt from the books. They werent actually sued it was on agreement based on an SEC exemption.

As for pins, the company has inventory on several products and is obviously waiting to release them strategically. Also, just because they paid for the pins doesnt mean they have been manufactured. Accounting and debt finance 101.

As for your theory of no purchasers/customers, you have again made an assumption without doing all the DD. When the company bought the orthopedic company it came with 2 or 3000 existing customers. They rebranded the ClearView and changed a few things so that it could be released this year. All of this takes money by the way which the company does not have a lot of which is probably why they havnt launched all the products. Marketing, fulfillment, supply chain, employee costs etc.

50% discount on stock is steep but industry standard for fronted cash on a debt conversions is 40-50% and is typical. The investment bank puts the money our up front and is taking a risk.