InvestorsHub Logo

trader59

04/28/18 9:08 PM

#134930 RE: TenKay #134607

Been looking for this today, no filings on it, but not sure they're required. What I do know is that the reverse merger was announced in November, Utopya was called a "wholly owned subsidiary" on January 25 in a press release (before that, they issued PR's about Utopya but didn't use that term, though they did use the ANDI ticker and Starkweather was doing the talking), then nothing in the financials about Utopya at all. There's this paragraph in them (very last thing):

Note I – Basis of Consolidation
The Group financial statements consolidate those of the parent company and all its subsidiaries. The subsidiaries are all entities over which the Group has the power to control the financial and operating policies. The Company obtains and exercises control through all the voting rights of the subsidiaries.


So we know it was supposed to be in there, but ANDI is still an app company, the subsidiaries that are listed are 3 dead app companies.

Even though the period ended January 31, you'd think there'd be a decent paragraph in the financials about the terms of the reverse merger even if it happened the last week of January or even early February.

Would it be "something the OTC has never seen" if Utopya owned ANDI, but ANDI (and it's shareholders) didn't own Utopya?