CEO David Dalton has been leading UNVC, Black-owned/controlled, for 24.4 years and has experience navigating SEC/OTC regulatory rules and requirements.
0) Disclaimer: I am not making any personal accusations toward the CEO. This is a factual review based on publicly available due diligence. Several discrepancies appear in filings and records, which are difficult to reconcile given the CEO’s professional background.
1)Maryland Branch Forfeiture
UNIVEC INC BRANCH (Company Number F07298094), a branch of UNIVEC Conglomerate Inc. (Delaware), is forfeited in the State of Maryland.
Under Maryland law (Md. Code, Corporations & Associations 3-503, 3-515), a forfeited entity loses the right to conduct business or exercise corporate powers and can only act to wind up affairs until reinstated.
OTC filings continue to present the company as operational and compliant, which could create a potentially misleading impression for investors.
2)Undisclosed Legal Matters
Case CV-2019-008314: Dispute over $50,000 with an investor regarding David Dalton–Wellness RX Corporation (Lamont Ellis’s closed corporation, current president of UNIVEC). Settled prior to judicial decision, not disclosed in OTC filings or management certifications.
https://delcopublicaccess.co.delaware.pa.us/login
3)[color=var(--text)]Active Monetary Judgments[/color]
$88,830.14 – United States IRS (10/08/2009)
$82,503.08 – Nubenco Enterprises Inc. (06/29/2005)
$129,293.30 – additional documented judgment
These judgments do not expire and some have had garnishment actions, yet remain undisclosed.
Loan agreement with M&T Bank: outstanding balance of $169,203 (as of 12/31/2025).
4)[color=var(--text)]Subsidiaries/Affiliates Discrepancy[/color]
UNIVEC filings state: “At the time of this filing the Company has no subsidiaries, parents, or affiliated companies.”
Public records confirm the Maryland branch exists as a branch of UNIVEC Conglomerate Inc., now renamed back to Univec Inc. (6270427), making this statement factually inaccurate.
5)Opinion Letter Considerations
Red flags related to the forfeited Maryland branch, undisclosed legal matters, and active liabilities may constrain attorneys from issuing an unqualified opinion letter, as doing so could create potential professional or regulatory risk.
Without an opinion letter, UNVC may face challenges in maintaining PQE status or market credibility.
Market Statements and Financial Reality
Public statements present UNVC as compliant and operational; however, filings and records indicate material legal, corporate, and financial risks.
Assets-Total current assets: $21,135 (2025), $17,795 (2024)
Property & equipment (net): $10,676 (2025), $16,608 (2024)
Total assets: $31,811 (2025), $34,403 (2024)
Current Liabilities: $16,300,506 (2025), $15,121,861 (2024)
Accounts payable: $450,723 / $380,744
M&T Bank Loan (short-term portion): $5,000 / $0
Related-party short-term loans: $13,873 / $22,205
Payroll liabilities: $15,533,806 / $14,506,694
Accrued employee benefits: $297,104 / $212,218
Long-term liabilities: $1,426,637 (2025), $1,223,298 (2024)
Long-term loans: $0 / $71,892
M&T Bank Loan: $164,203 / $0
Related-party long-term loans: $1,262,434 / $1,151,406
Total liabilities: $17,727,144 (2025), $16,345,159 (2024)
Shareholders’ Equity / Deficit
Accumulated deficit: $35,028,100 (2025), $33,643,523 (2024)
PL
0) Disclaimer: I am not making any personal accusations toward the CEO. This is a factual review based on publicly available due diligence. Several discrepancies appear in filings and records, which are difficult to reconcile given the CEO’s professional background.
1)Maryland Branch Forfeiture
UNIVEC INC BRANCH (Company Number F07298094), a branch of UNIVEC Conglomerate Inc. (Delaware), is forfeited in the State of Maryland.
Under Maryland law (Md. Code, Corporations & Associations 3-503, 3-515), a forfeited entity loses the right to conduct business or exercise corporate powers and can only act to wind up affairs until reinstated.
OTC filings continue to present the company as operational and compliant, which could create a potentially misleading impression for investors.
2)Undisclosed Legal Matters
Case CV-2019-008314: Dispute over $50,000 with an investor regarding David Dalton–Wellness RX Corporation (Lamont Ellis’s closed corporation, current president of UNIVEC). Settled prior to judicial decision, not disclosed in OTC filings or management certifications.
https://delcopublicaccess.co.delaware.pa.us/login
3)[color=var(--text)]Active Monetary Judgments[/color]
$88,830.14 – United States IRS (10/08/2009)
$82,503.08 – Nubenco Enterprises Inc. (06/29/2005)
$129,293.30 – additional documented judgment
These judgments do not expire and some have had garnishment actions, yet remain undisclosed.
Loan agreement with M&T Bank: outstanding balance of $169,203 (as of 12/31/2025).
4)[color=var(--text)]Subsidiaries/Affiliates Discrepancy[/color]
UNIVEC filings state: “At the time of this filing the Company has no subsidiaries, parents, or affiliated companies.”
Public records confirm the Maryland branch exists as a branch of UNIVEC Conglomerate Inc., now renamed back to Univec Inc. (6270427), making this statement factually inaccurate.
5)Opinion Letter Considerations
Red flags related to the forfeited Maryland branch, undisclosed legal matters, and active liabilities may constrain attorneys from issuing an unqualified opinion letter, as doing so could create potential professional or regulatory risk.
Without an opinion letter, UNVC may face challenges in maintaining PQE status or market credibility.
Market Statements and Financial Reality
Public statements present UNVC as compliant and operational; however, filings and records indicate material legal, corporate, and financial risks.
Assets-Total current assets: $21,135 (2025), $17,795 (2024)
Property & equipment (net): $10,676 (2025), $16,608 (2024)
Total assets: $31,811 (2025), $34,403 (2024)
Current Liabilities: $16,300,506 (2025), $15,121,861 (2024)
Accounts payable: $450,723 / $380,744
M&T Bank Loan (short-term portion): $5,000 / $0
Related-party short-term loans: $13,873 / $22,205
Payroll liabilities: $15,533,806 / $14,506,694
Accrued employee benefits: $297,104 / $212,218
Long-term liabilities: $1,426,637 (2025), $1,223,298 (2024)
Long-term loans: $0 / $71,892
M&T Bank Loan: $164,203 / $0
Related-party long-term loans: $1,262,434 / $1,151,406
Total liabilities: $17,727,144 (2025), $16,345,159 (2024)
Shareholders’ Equity / Deficit
Accumulated deficit: $35,028,100 (2025), $33,643,523 (2024)
PL
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