Applied Blockchain Inc (APLD)

[horst]

Very substantial $APLD quarterly submitted on time Feb. 24th to Clark County Courts. It's case # A-20-823562-P if anyone wants to look it up themselves. Here's a summary:

1) Custodian (Bauman) paid back fees to State of Nevada and filed Custodian Amendment with NVSOS.

2) Custodian reached a settlement with Pacific Stock Transfer over past invoices.

3) "Custodian is planning to hire professionals to prepare financial statements for the company, as well as disclosure statements to be filed with OTCMarkets so that the Company can be upgraded to 'current information' within a matter of days."

4) Company is in good standing with Nevada Secretary of State, has paid for a new and current business license and has appointed a new Resident Agent (aka "registered agent").

5) Bauman feels her custodianship work is largely completed and that there is no need for continuing court supervision. Therefore, custodian is moving for termination of custodianship.

6) Wesley Cummins is the majority shareholder via his family trust, and according to Bauman has a desire to do something with the company. His brother was the previous sole officer according to Bauman. Bauman is close to a settlement with Cummins and will file a Motion to Terminate Custodianship if a settlement is reached.

Regarding #3 above, it's not precisely stated whether Bauman means that the company will be current "in a matter of days" as of Feb. 24, or rather if she means it will be current within a matter of days after submitting disclosures to OTC Markets. I think the latter makes a lot more sense, so I'm assuming they'll hire accountants, prepare the financials/disclosures, and submit paperwork to OTC Markets--after which (assuming everything is in order and all fees paid) it will be "a matter of days" to become current.

Per the previous entry at Clark County Courts, since Bauman submitted the quarterly on time, we can expect the March 3rd hearing to be vacated.

For more info on the company and Wes Cummings, here's a very long post I did several days ago with everything I could find.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161904896

Market cap would need an update since that post. At this moment, with 9,102,659 OS (unrestricted just 7.7M) at .27 per share the market cap is around $2.46M


Please keep in mind that I'm just sharing what I learned and not making predictions about the stock price. I never give financial advice of any kind, so please don't ask for my thoughts about how or whether you should trade this or any other stock.

H