Univec is heavy in debt $1,997,596.00 in 3rd quar
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Posted On: 11/16/2022 6:14:57 AM
Univec is heavy in debt $1,997,596.00 in 3rd quarter along Total Debt is $29,137, 980.00 Page 8 and 15, 19 NOTE 5:
RELATED PARTY LOANS
For the period ended on September 30, 2022, and December 31, 2021, the following chart reflects the Related Party Loans. Having as
beneficiaries to Dr. David Dalton and Mr. Richard Blickstein, that loans had an aggregate outstanding principal balance of $12,195,692
and $ 11,404,136 respectively. Also, the Company has Long-Term Related Party Loans, in the amount of for the period ended on
September 30, 2022, and December 31, 2021, $ 1,110,679 and $1,092,194 respectively, that debt accrued interest at 1% per year and all
interest are accrued in the principal amount disclosed in the balance sheet
The company did have some revenue stated at the bottom
Some are claiming now that Univec is debt free because Page 5 Part B is left empty, is has been left empty in every filing since becoming current
On page 5
B of the filings it has been left empty in every filing since Univec had to come current here is why
Page 8
Current liabilities:
Accounts payable 222,888 182,244
Bank overdraft 34 -
Related party short-term loan 13,716 13,201
Payroll liabilities 12,195,692 11,404,136
Accrued employees’ benefits - 1,697,701
Total current liabilities 12,432,330 13,297,282
Long Term Liabilities
Related party long-term loans 1,110,679 1,092,194
Total Long-Term Liabilities 1,110,679 1,092,194
Total liabilities 13,543,009 14,389,476
Page 15
These consolidated financial statements have been prepared on a going concern basis which contemplates the realization of assets and
the satisfaction of liabilities in the normal course of business for the foreseeable future. As of September 30, 2022, and December 31,
2021, the Company has an accumulated deficit of $ 29,137,980 and $ 27,140,384 since inception, respectively. This raises substantial
doubt about the Company’s ability to continue as a going concern.
Page 18
The Company does generate revenues during the nine-months ended September 30, 2022. Revenues generated during the nine- months
ended September 30, 2022, and same period ended on September 30, 2021, totaled $ 28,440 and $ 42,340 respectively,
https://www.otcmarkets.com/otcapi/company/fin...03/content
RELATED PARTY LOANS
For the period ended on September 30, 2022, and December 31, 2021, the following chart reflects the Related Party Loans. Having as
beneficiaries to Dr. David Dalton and Mr. Richard Blickstein, that loans had an aggregate outstanding principal balance of $12,195,692
and $ 11,404,136 respectively. Also, the Company has Long-Term Related Party Loans, in the amount of for the period ended on
September 30, 2022, and December 31, 2021, $ 1,110,679 and $1,092,194 respectively, that debt accrued interest at 1% per year and all
interest are accrued in the principal amount disclosed in the balance sheet
The company did have some revenue stated at the bottom
Some are claiming now that Univec is debt free because Page 5 Part B is left empty, is has been left empty in every filing since becoming current
Quote:
the debt is paid...no note holders. any penny stock that has no debt is a def positive move. Read More: https://investorshangout.com/post/view?id=649...z7knV2DrCo
On page 5
B of the filings it has been left empty in every filing since Univec had to come current here is why
Quote:
Page 5 B. Debt Securities, Including Promissory and Convertible Notes
Use the chart and additional space below to list and describe all outstanding promissory notes, convertible notes, convertible
debentures, or any other debt instruments that may be converted into a class of the issuer’s equity securities.
Check this box if there are no outstanding promissory, convertible notes or debt arrangements: ☒
Page 8
Current liabilities:
Accounts payable 222,888 182,244
Bank overdraft 34 -
Related party short-term loan 13,716 13,201
Payroll liabilities 12,195,692 11,404,136
Accrued employees’ benefits - 1,697,701
Total current liabilities 12,432,330 13,297,282
Long Term Liabilities
Related party long-term loans 1,110,679 1,092,194
Total Long-Term Liabilities 1,110,679 1,092,194
Total liabilities 13,543,009 14,389,476
Page 15
These consolidated financial statements have been prepared on a going concern basis which contemplates the realization of assets and
the satisfaction of liabilities in the normal course of business for the foreseeable future. As of September 30, 2022, and December 31,
2021, the Company has an accumulated deficit of $ 29,137,980 and $ 27,140,384 since inception, respectively. This raises substantial
doubt about the Company’s ability to continue as a going concern.
Page 18
The Company does generate revenues during the nine-months ended September 30, 2022. Revenues generated during the nine- months
ended September 30, 2022, and same period ended on September 30, 2021, totaled $ 28,440 and $ 42,340 respectively,
https://www.otcmarkets.com/otcapi/company/fin...03/content
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