If the merger happened, their financials would have included the business description of the newly merged company (ie - would have said they were going to sell phones), would have listed Utopya Innovations, LLC as a subsidiary (in addition to those two dead app companies), and would have included the financial information for Utopya (ie - debts, cash, obligations for those phones that were, allegedly, in the pipeline). The "merger" was simply Utopya Innovations, LLC, a private company, taking controlling interest in ANDI. So the alleged phone company controls the shell, but the shell doesn't control the phone company per the financials.