Andiamo Corp. (ANDI)

[nodummy]

I wouldn't give CLEC Holding Inc too much credit

The entity was only formed on March 1, 2018 in Wyoming

https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=155201194194030253141109236110191134044132058141

When you go back through the story line it becomes pretty clear what is going on.

The entity was set up the same day that ANDI/Utopya put out this PR

https://www.prnewswire.com/news-releases/andiamo-corporation-with-its-wholly-owned-subsidiary-utopya-innovations-in-talks-with-possible-telecommunications-industry-acquisition-300606601.html

The U Team announces today that it is in talks with a US based Telecommunications Company with the aim of securing an acquisition or merger in the near future.

Calling it a telecommunications company when it is just a brand new Wyoming entity with no assets is a stretch.

Obviously CLEC Holding was created so that ANDI/Utopya could say they acquired something

https://www.prnewswire.com/news-releases/andiamo-corp-otcpk-andi-signs-letter-of-intent-to-acquire-telecom-holding-company-300613044.html

Andiamo Corp. (OTCPK: ANDI), together with its wholly-owned subsidiary Utopya Innovations Inc. ("Utopya"), announces today that it has signed a Letter of Intent to acquire a telecom holding company CLEC Holding, Inc. ("CLEC Holding") in an all-stock transaction, as part of a strategic plan for growth and diversification.

Even though it was only announced as a "letter of intent" and CLEC Holding Inc hasn't been acquired yet. CLEC Holding Inc is still just a brand new entity with no assets anyways.

They are trying to pass off the newly created empty CLEC Holding Inc entity as a holding company for a bunch future acquisitions of local carriers (I guess so that they can sell their own sell phone instead of signing contracts with retail stores). And some how they want people to believe that they can come up with $15 million in funding as a pink sheet company and better yet do it without any dilution.

The Wyoming-based CLEC Holding is currently in talks to acquire several Competitive Local Exchange Carrier companies ("CLECs") that are all revenue-producing and in growth mode.

"We are in talks with multiple acquisition targets, as well as funding sources. We will seek to secure up to $15 Million in funding directly to CLEC Holding, with no dilution to ANDI or its shareholders. We hope to announce our first acquisition in the next 10 days. The additional acquisitions are still in early-stage discussions but do seem very promising, and are aligned with our long-term vision for CLECHolding, which is to acquire telecom and telecom-related companies when it is strategically viable to do so, in order to expand our network capabilities and grow. For obvious reasons, there are clear synergies between CLEC Holding and Utopya, and our intent is to offer Utopya products to CLEC Holding's customers," stated Justin Su, President of CLEC Holding.

So far it's turned out like the CES Conference statements. Lots of contracts from the CES conference promised and here we are almost 3 months later and none delivered. It has been more than 10 days since that press release and no acquisitions yet.

It all sort of seems like cart before the horse stuff anyways. Seems like they should be getting contracts signed for manufacturing and distribution before they start going out trying to acquire stores to use to sell the phones. Plus they will probably be very limited with the amount of money they can (legitimately) raise as a pink sheet company with a bloated share structure and nothing but a forward looking business plan. Wouldn't it make more sense to focus those limited funds (assuming there is any money) on getting the phones developed.

Looks like more chase the carrot stuff to me to keep people interested in ANDI while friends and family dilute hundreds of millions of shares into the market through Series B preferred share conversions.