OTC Market update posted https://backend.otcmarket
Post# of 6614
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Posted On: 12/20/2019 9:40:56 AM
OTC Market update posted https://backend.otcmarkets.com/otcapi/company...65/content
CORRECTIVE FINANCIAL UPDATES
(Validated Outstanding Shares 2006-2019)
Astra Veda Corporation, formerly known as WorldFlix, Inc. (OTC PINK: WRFX), is
providing a series of corrective accounting updates to reflect any verifiable evidence determined
to be a material fact concerning the 2016 – present OTC financial reporting.
Chairman and Interim CEO James “Mick” Davis stated, “based on the October 8, 2019 forensic
accounting examination summary provided by Eide Bailly, the Company determined it would be
required to reconstruct a general accounting ledger based on the information curated by the fraud
and forensic examination team and reviewed by an independent audit committee”.
There were over 8,700 entries that were manually reviewed and collated between multiple bank
accounts, three (3) years of statements, cancelled checks, deposit slips, PayPal registers, Google
Wallet and Facebook Pay to determine the nature of the expenditures and the appropriate IRS
classification to be applied.
In addition to building a reliable general accounting ledger, a validated securities issuance ledger
is also being reconstructed. Securities agreements, loans and notes between 2016 and 2019 are
also being reviewed by a forensic legal team and was referred to law enforcement. Where
applicable, a summary correction to previously submitted OTC Market reports will be issued as
findings are discovered and validated.
Below is a historical summary accounting regarding outstanding shares during selected reporting
periods. This information was taken directly from the transfer agent and their ClearConnect
database.
CORRECTIVE FINANCIAL UPDATES
(Validated Outstanding Shares 2006-2019)
Astra Veda Corporation, formerly known as WorldFlix, Inc. (OTC PINK: WRFX), is
providing a series of corrective accounting updates to reflect any verifiable evidence determined
to be a material fact concerning the 2016 – present OTC financial reporting.
Chairman and Interim CEO James “Mick” Davis stated, “based on the October 8, 2019 forensic
accounting examination summary provided by Eide Bailly, the Company determined it would be
required to reconstruct a general accounting ledger based on the information curated by the fraud
and forensic examination team and reviewed by an independent audit committee”.
There were over 8,700 entries that were manually reviewed and collated between multiple bank
accounts, three (3) years of statements, cancelled checks, deposit slips, PayPal registers, Google
Wallet and Facebook Pay to determine the nature of the expenditures and the appropriate IRS
classification to be applied.
In addition to building a reliable general accounting ledger, a validated securities issuance ledger
is also being reconstructed. Securities agreements, loans and notes between 2016 and 2019 are
also being reviewed by a forensic legal team and was referred to law enforcement. Where
applicable, a summary correction to previously submitted OTC Market reports will be issued as
findings are discovered and validated.
Below is a historical summary accounting regarding outstanding shares during selected reporting
periods. This information was taken directly from the transfer agent and their ClearConnect
database.
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