March 6, 2020
OTC Disclosure & News Service
Sheridan, WY —
This release includes additional documents. Select the link(s) below to view.
WRFX Anticipates Q1 Reporting.pdf
Astra Veda Corporation, formerly known as WorldFlix, Inc. (OTC PINK: WRFX), anticipates filing the next OTC Markets financial reports on time. Thanks to the tireless efforts of friends, family and supporters like you, we are excited to be making headway in the transformation of the Company in its rise to meet its genuine potential under new leadership.
Using the Eide Bailly fraud examination findings and work product as our initial basis of fact, volunteers along with tremendous support from our bookkeeping team reviewed and organized over 8,000 co-mingled transactions across more than 10 banking and online money transfer accounts. This resolute research team reviewed each transaction for its legitimate business relevance and applied the appropriate IRS classification and category. Interim CEO and Chairman Mick Davis stated, "it was a monumental task by our bookkeeping team, and we are extremely grateful for their painstaking efforts over the past six months."
The Company takes pride in the fact that we have accomplished a major objective in the establishment of a genuine GAAP accounting ledger that will withstand legal, regulatory and IRS scrutiny. Our draft financials are being reviewed by an independent audit committee, which is comprised of an international business attorney, bank examiner, Chief Financial Officer of a major California marketing company and the Chief Executive of a large Midwest distribution company.
The Company sent W-9 forms to all appropriate parties and conferred with the IRS to delineate the past governance activities from the current activities. As expected from a mature and fully compliant firm, the Company delivered to the Internal Revenue Service, a form 1096 Annual Summary and Transmittal of U.S. Information Returns in a timely fashion and valid W-1099 forms have been sent to all individuals as required.
The Company has established a demarcation from past deficits and is transforming the Company daily. We are now reviewing 2016 2019 securities notes, agreements and all contracts. Each will be examined and reviewed for lawfulness with the appropriate regulatory authorities to adjudicate as needed. We are holding fast to the promise and our commitment of a full accounting of the company for shareholders.
Only with a thorough inspection of the past can the new governance and management establish a roadmap and authentic metric for success. As always, the Company will update shareholders as the issues and facts warrant.
