Umbra Applied Technologies Group Inc (UATG)

[Mcol52]

In order to file an S-1 you have to have full audits completed. In order to stay SEC compliant with full reporting regs you must have full audits completed by PCAOB firm on all M&A transactions which means that UATG has to audit all 6 (UATG + 5 subs) companies within 30 days of each acquisition or else they lose reporting status (they wont need to do audits on partners unless they own more than 50%). All audits for each company must be minimum 2 years of financials. That means that UATG must complete 12 years of audits! They will probably do it in stages but to do it in only 3 months means that they already started. I honestly dont know why anyone would be complaining about right now. This company is showing us EVERYDAY that it is working and getting s#%$! done. If this company has an S-1 completed and approved by the end of the year it will be a HUGE accomplishment. For those that say "anyone" can get an S-1 done, I call BS because they have no idea what they are talking about. SEC doesnt just let an S-1 "slide" and it takes months to process, a significant legal and accounting team and it costs $150k plus usually!

UATG has to do this for 6 companies! Do you have any idea what 12 years of audits costs? These audits are probably costing $500k! Where does everyone think this money is coming from- obviously they are making quite a bit in revs! An S-1 is not a joke which is why it is such a big deal, oh and by the way, which is why its required by NYSE for IPO's outside of a few exceptions! Most investment banks want to see it over a Form 10 which is also complicated and expensive

I know that no matter what they do there will be some that complain but anyone doubting this company is going to lose out. It took a while but this company is now doing big things which is why they are NOT staying on OTC. This company is going all the way. I can feel it