Something to ponder after investigating/reading posts all day. I apologize to those who find my posts long winded and repetitive I just like to get my point across so I don’t have to go back and forth. Debating with folks little chunks at a time drives me nuts. With that in mind I’m gonna keep this thing brief (as brief as I can)
I am neither a lawyer or an accountant, but based on a few observations, our good friend google and helpful posts from nodummy I have been “speculating” about what has shown up in the Q and what hasn’t.
First off I do not know the rules for what all must be filed in the Q but as I have said many times the lack of definitive information is obvious. But the question that the naysayers keep asking is where are the phone expenses, etc.? Phones must be fake!
Remember that Utopya Innovations is a wholly owned subsidiary of ANDI, with that said subsidiaries are different companies and their accounting and financial information is often kept separate from parent companies, as far as my research tells me. Here is an easy starter link but google wholly owned subsidiaries and accounting rules or something of those sorts and just investigate a little bit
http://smallbusiness.chron.com/accounting-rul...67502.html
Now I wasn’t sure if ANDI was including Utopya Innovations in the information presented in the Q or not, so I went looking for clues. Nodummy to the rescue!
From the Q the subsidiaries:
Utopya Innovations Inc - a hardware and software developer
- All Pro Apps - a software developer dedicated to mobile apps
Nodummy:
All Pro Apps is the old defunct outdated app business that ANDI inherited from Dustin Secor.
The only Assets ANDI reported on April 30, 2018 was some cash raised by selling one of the two old app businesses (and possible from the selling of series B preferred stock). No software. No hardware. No equipment. No property (physical or intellectual)
Quote:
On February 2, 2018, the company sold T3 Apps one of its wholly - owned subsidiaries for $100,000
Fyi those same apps that got sold for $100,000 were previously valued as $541,429 on the ANDI balance sheet.
Thanks Nodummy!
I believed that the software listed on the first Q for 542,429 was the software for the phones, but Nodummy says here that it was the software for the app company. Problem with that is while ANDI may have sold one of those app companies, they kept the other one. IF THE APPS WERE THE SOFTWARE THEY WERE TALKING ABOUT THEN ANDI WOULD STILL HAVE SOME VALUE ON THE BOOKS FOR THE SOFTWARE LISTED FROM THE OTHER APP COMPANY THEY KEPT.
That tells me it can’t be the App company software and the only other software it could be would be from the phones. But where did it go? Well if Utopya Innovations has separate accounting the software would likely be on their balance sheet and not on ANDI if the company chose to list it seperate(even though it is a wholly owned subsidiary).
Why take it off after listing it on first Q?
Well as Nodummy had to share just a little bit ago the Series D shares were not present on the first Q which means that paperwork for completion of merger must have happened after January 31st. Once merger was completed (officially via paperwork) could Utopya now list its own books and place its expenses/revenues. If I knew a good business accountant I would ask him. But the software didn’t just disappear. Where did it go?
My guess is it’s in Utopyas books and ANDI showed us on the Q what they wanted us to see and nothing more. Non SEC reporting is good, not just for when your trying to cheat investors (like many pinks) but also when you are trying to keep your secrets quiet a bit longer.
Anyways so much for not rambling again but long story short I feel that the software listed is on Utopyas books now (not the only thing listed there I’m sure) and is obviously not the app companies because we still own one and the software is listed as 0.
Lots of unknowns on Qs but we had software and now it’s missing. Hmmm makes one wonder. Maybe the wholly owned subsidiary has other surprises on their books. Any accountants or lawyers familiar with how the financials are separated in regards to Qs?
I am neither a lawyer or an accountant, but based on a few observations, our good friend google and helpful posts from nodummy I have been “speculating” about what has shown up in the Q and what hasn’t.
First off I do not know the rules for what all must be filed in the Q but as I have said many times the lack of definitive information is obvious. But the question that the naysayers keep asking is where are the phone expenses, etc.? Phones must be fake!
Remember that Utopya Innovations is a wholly owned subsidiary of ANDI, with that said subsidiaries are different companies and their accounting and financial information is often kept separate from parent companies, as far as my research tells me. Here is an easy starter link but google wholly owned subsidiaries and accounting rules or something of those sorts and just investigate a little bit
http://smallbusiness.chron.com/accounting-rul...67502.html
Now I wasn’t sure if ANDI was including Utopya Innovations in the information presented in the Q or not, so I went looking for clues. Nodummy to the rescue!
From the Q the subsidiaries:
Utopya Innovations Inc - a hardware and software developer
- All Pro Apps - a software developer dedicated to mobile apps
Nodummy:
All Pro Apps is the old defunct outdated app business that ANDI inherited from Dustin Secor.
The only Assets ANDI reported on April 30, 2018 was some cash raised by selling one of the two old app businesses (and possible from the selling of series B preferred stock). No software. No hardware. No equipment. No property (physical or intellectual)
Quote:
On February 2, 2018, the company sold T3 Apps one of its wholly - owned subsidiaries for $100,000
Fyi those same apps that got sold for $100,000 were previously valued as $541,429 on the ANDI balance sheet.
Thanks Nodummy!
I believed that the software listed on the first Q for 542,429 was the software for the phones, but Nodummy says here that it was the software for the app company. Problem with that is while ANDI may have sold one of those app companies, they kept the other one. IF THE APPS WERE THE SOFTWARE THEY WERE TALKING ABOUT THEN ANDI WOULD STILL HAVE SOME VALUE ON THE BOOKS FOR THE SOFTWARE LISTED FROM THE OTHER APP COMPANY THEY KEPT.
That tells me it can’t be the App company software and the only other software it could be would be from the phones. But where did it go? Well if Utopya Innovations has separate accounting the software would likely be on their balance sheet and not on ANDI if the company chose to list it seperate(even though it is a wholly owned subsidiary).
Why take it off after listing it on first Q?
Well as Nodummy had to share just a little bit ago the Series D shares were not present on the first Q which means that paperwork for completion of merger must have happened after January 31st. Once merger was completed (officially via paperwork) could Utopya now list its own books and place its expenses/revenues. If I knew a good business accountant I would ask him. But the software didn’t just disappear. Where did it go?
My guess is it’s in Utopyas books and ANDI showed us on the Q what they wanted us to see and nothing more. Non SEC reporting is good, not just for when your trying to cheat investors (like many pinks) but also when you are trying to keep your secrets quiet a bit longer.
Anyways so much for not rambling again but long story short I feel that the software listed is on Utopyas books now (not the only thing listed there I’m sure) and is obviously not the app companies because we still own one and the software is listed as 0.
Lots of unknowns on Qs but we had software and now it’s missing. Hmmm makes one wonder. Maybe the wholly owned subsidiary has other surprises on their books. Any accountants or lawyers familiar with how the financials are separated in regards to Qs?
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