MPIX BUZZ ALERT******** MPIX SEC FORM 10 FILED (
Post# of 29735
Posted On: 02/16/2014 1:10:55 PM
MPIX BUZZ ALERT********
MPIX SEC FORM 10 FILED ( REGISTRATION
http://www.sec.gov/Archives/edgar/data/105336....htm#j_014
https://www.sec.gov/cgi-bin/viewer?action=vie...rl_type=v#
(click on "ALL REPORTS" on the left)
To the Board of Directors and Stockholders of:
Mindpix Corporation
We have audited the accompanying consolidated balance sheets of Mindpix Corporation as of December 31, 2012 and 2011 and the related consolidated statements of operations, changes in stockholders’ deficiency, and cash flows for each of the two years in the period ended December 31, 2012. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Universal Capital Management, Inc. as of December 31, 2012 and 2011 and the consolidated results of its operations and its cash flows for each of the two years in the period ended December 31, 2012 in conformity with accounting principles generally accepted in the United States of America.
As discussed in Note 2 to the consolidated financial statements, the previously unaudited 2012 and 2011 consolidated financial statements have been restated to correct misstatements.
The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company had a net loss attributable to Mindpix Corporation stockholders’ and net cash used in operations of $4,694,675 and $543,963, respectively, in 2012, and has a working capital deficit, accumulated deficit and stockholders’ deficiency of $793,176, $13,438,853 and $793,176, respectively, at December 31, 2012 and has no revenues in 2012 and 2011. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans as to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/ Salberg & Company, P.A.
SALBERG & COMPANY, P.A.
Boca Raton, Florida
February 14, 2014
Mindpix currently trades on the OTC Markets Group’s OTC Pink Tier. However, after this Registration Statement is effective and the Company is a reporting issuer the Company intends to trade on the OTCQB Tier of OTC Markets and/or the OTC Bulletin Board (“OTCBB”). Companies trading on the OTCBB and the OTCQB, must be reporting issuers under Section 12 of the Exchange Act, and must be current in their reports under Section 13 of the Exchange Act, in order to maintain price quotation privileges on. If we fail to remain current on our reporting requirements, we could be removed from the OTCQB or OTCBB. As a result, the market liquidity for our securities could be adversely affected by limiting the ability of broker-dealers to sell our securities and the ability of stockholders to sell their securities in the secondary market.
UPLIST TO QB IS NEXT !!!
MPIX SEC FORM 10 FILED ( REGISTRATION
http://www.sec.gov/Archives/edgar/data/105336....htm#j_014
https://www.sec.gov/cgi-bin/viewer?action=vie...rl_type=v#
(click on "ALL REPORTS" on the left)
To the Board of Directors and Stockholders of:
Mindpix Corporation
We have audited the accompanying consolidated balance sheets of Mindpix Corporation as of December 31, 2012 and 2011 and the related consolidated statements of operations, changes in stockholders’ deficiency, and cash flows for each of the two years in the period ended December 31, 2012. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Universal Capital Management, Inc. as of December 31, 2012 and 2011 and the consolidated results of its operations and its cash flows for each of the two years in the period ended December 31, 2012 in conformity with accounting principles generally accepted in the United States of America.
As discussed in Note 2 to the consolidated financial statements, the previously unaudited 2012 and 2011 consolidated financial statements have been restated to correct misstatements.
The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company had a net loss attributable to Mindpix Corporation stockholders’ and net cash used in operations of $4,694,675 and $543,963, respectively, in 2012, and has a working capital deficit, accumulated deficit and stockholders’ deficiency of $793,176, $13,438,853 and $793,176, respectively, at December 31, 2012 and has no revenues in 2012 and 2011. These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans as to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
/s/ Salberg & Company, P.A.
SALBERG & COMPANY, P.A.
Boca Raton, Florida
February 14, 2014
Mindpix currently trades on the OTC Markets Group’s OTC Pink Tier. However, after this Registration Statement is effective and the Company is a reporting issuer the Company intends to trade on the OTCQB Tier of OTC Markets and/or the OTC Bulletin Board (“OTCBB”). Companies trading on the OTCBB and the OTCQB, must be reporting issuers under Section 12 of the Exchange Act, and must be current in their reports under Section 13 of the Exchange Act, in order to maintain price quotation privileges on. If we fail to remain current on our reporting requirements, we could be removed from the OTCQB or OTCBB. As a result, the market liquidity for our securities could be adversely affected by limiting the ability of broker-dealers to sell our securities and the ability of stockholders to sell their securities in the secondary market.
UPLIST TO QB IS NEXT !!!
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"The Preamble
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The Flag
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"The Preamble
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America."
Oath
"I solemnly swear to support and defend the Constitution of the United States of America"
The Flag
"I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all."
Quote:
If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.”
https://www.bloomberg.com/opinion/articles/20...ify%20wall
https://www.scotusblog.com/case-files/cases/m...v-manning/
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