AI
Tuesday, June 19, 2018 7:23:11 PM
It should probably be noted that in the quarterly report for the period ending January 31, 2018 there were no Series D preferred shares outstanding.
https://backend.otcmarkets.com/otcapi/company/financial-report/190282/content
So I guess that means that Utopya Innovations Inc wasn't merged into the ANDI shell until after January 31, 2018 just as I had been saying.
Which means that the press releases from ANDI in November and December and January announcing that Utopya Innovations Inc was a wholly owned subsidiary of ANDI were all misleading.
But since Utopya Innovations Inc brought with it no assets and no real business operations I guess the much bigger example of misleading investors were all those grandiose statements about Utopya having contracts in the works,. deals already arranged with manufacturers, revenue projections of $100m by the end of 2018, non-dilutive financing, a CLEC distribution network, etc.
But to your point, ANDI was supposed to list all beneficial share owners (10%+) off all classes of securities which would include Series D preferred stock. So who is the beneficial owner of those Series D shares?
It bothers me that they didn't list Dustin Secor as a beneficial owner of the Series B preferred stock in the last quarterly reports for the periods ending January 31, 2018 and October 31, 2017. If they would have then we would have been able to do the math to figure out how many of Dustin Secors shares went to people like Corbin Hardy, Woodmont Investment Group LLC (Allen Silberstein), Raymond Kripaitis Jr, Rebekah White, and David Bodie.
https://backend.otcmarkets.com/otcapi/company/financial-report/190282/content
So I guess that means that Utopya Innovations Inc wasn't merged into the ANDI shell until after January 31, 2018 just as I had been saying.
Which means that the press releases from ANDI in November and December and January announcing that Utopya Innovations Inc was a wholly owned subsidiary of ANDI were all misleading.
But since Utopya Innovations Inc brought with it no assets and no real business operations I guess the much bigger example of misleading investors were all those grandiose statements about Utopya having contracts in the works,. deals already arranged with manufacturers, revenue projections of $100m by the end of 2018, non-dilutive financing, a CLEC distribution network, etc.
But to your point, ANDI was supposed to list all beneficial share owners (10%+) off all classes of securities which would include Series D preferred stock. So who is the beneficial owner of those Series D shares?
It bothers me that they didn't list Dustin Secor as a beneficial owner of the Series B preferred stock in the last quarterly reports for the periods ending January 31, 2018 and October 31, 2017. If they would have then we would have been able to do the math to figure out how many of Dustin Secors shares went to people like Corbin Hardy, Woodmont Investment Group LLC (Allen Silberstein), Raymond Kripaitis Jr, Rebekah White, and David Bodie.
