Umbra Applied Technologies Group Inc (UATG)

[Mcol52]

There was a question on stocktwits that I answered so I thought I would post it here as well in case someone here had the same question.

The fins & disclosure filings are stating that they found errors in 2017 & adjusted for it in 2018 after finding the errors. This is all part of the process in preparing for their upcoming audits after they get current. This doesnt really effect us at all, its all bean counting and formality. They really only need 2 yrs of audited financials to file an S1 but I guess they did 2018 so that every year after was accurate. We dont care about 2017, 2018, 2019 or even 2020 aside from a potential capital infusion that funded acquisitions and all the professional services they paid for to do all of this. I suspect they utilized creative debt financing to fund audits & S1 so it most likely wont matter either way (their are ways to mitigate debt). The real revs & news are going to be in Q1 2021 when they acquired 5 companies & bought equity in 2 strategic partners. All those revs and capital value as well as expenditures will be in Q1. 2018 filings show progress & they are in the process of getting current.

UATG is clearly serious about filing and getting current. They are doing this because they are going to audit the company and are filing an S1.My guess is that they are NYSE first half of 2022.

I have a call out to the CEO to ask a few questions. If anyone has a question they want answered let me know?