Andiamo Corp. (ANDI)

[trader59]

No, their word is not golden, the ANDI CEO Lied.

Read the plain words in black and white, dated February 2, now 3 months ago:

We are also taking steps to ensure that we remain highly transparent and communicative with our shareholders. We have received a number of inquiries with respect to the company's share structure. The current transfer agent has an internal gag order that prevents the release of this information, which is contrary to the level of transparency that we wish to demonstrate. As such, we have begun the process of switching transfer agents, in order to make this information readily available to those who request it.

https://www.prnewswire.com/news-releases/utopya-innovations-inc-a-wholly-owned-subsidiary-of-andiamo-otcpk-andi-announces-plans-for-ticker-change-and-more-300592503.html

Why is this important?

What is a "Gagged" Transfer Agent? - Post in iHub's "Money 101"

-A 'Transfer Agent' is a company's means of managing shareholder records, issuing and canceling stock certificates, and processing investor mailings. Some companies can act as their own transfer agent, but most often, especially with penny stocks, the job is outsourced to companies specializing in the business. Transfer agents are normally the most accurate, and often the only way of finding the current O/S, A/S, and float for a penny stock. Some will require a fax with shareholder details to retrieve the information, others simply a phone call or email. This type of transparency is desirable among investors.

A "Gagged" transfer agent is one which has been instructed by the company they are working for to not release information, such as the share structure. This is NOT a good situation. There is no legitimate reason for a company to gag their TA. It is almost always done to hide dilution. Without knowing the current number of outstanding shares, an investor has no idea if shares are being sold by the company. Concurrently, without knowing the number of authorized shares, the number of shares that can possibly be sold is not known either. Companies that practice this scam will often issue press releases, or other investor communication containing excuses for having the TA gagged. Unknowing investors will buy these up, and continue holding shares, or even buying more. We absolutely do not recommend touching a stock with a gagged TA, unless you are experienced with penny stocks, and it is purely a short term momentum play.

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