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Financing of the Skytitan planes is the answer to both questions. UITA receives royalties from each sale and orders that are on file exceed 200 planes.
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Their plans are good but I called the CEO of Skytitan and he said UITA will not receive much benefit from Skytitan operations. I am selling all my shares and if by chance something new comes out on production, I will re-enter.
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SHAREHOLDERS UPDATES: I just wanted to let everyone know that we have assembled a great team here to address the company's "delinquent" filings. We also have 2 PCAOB CPA groups that are helping us with the project. I personally spoke to an attorney at SEC and he helped us with the path of which way we will be filing. The great news, is that through the "JOBS" act, SEC is now offering a pathway to get the company "current" . This morning, my team finished and file yet another company in our portfolio, and it was upgraded today. So have a great weekend everyone, and know that we are "on the clock!" Also, we have a great group that will be in this company, and its involved worth EV and several other market related companies.
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This morning I received a phone call from OTC Markets Compliance officer Mr. Ron. His purpose, as he explained, was to make sure that management has a correct set of information concerning the SEC's mandate and a timeline as it concerns companies that are behind their "filings" and "Disclosure" obligations. Due to tremendous amount of confusion and misinformation, the market is saturated by incorrect information. The range of statements and opinions that are "printed as fact" seem to be as innocent as a naïve and ignorant lack of facts and knowledge, to all the way sinister group of lies and false statements designed to scare investors and shareholders in order to manipulate the markets. So, the basic facts are: The JUNE deadline is for all OTC Markets filers to have all their "applications and DD releases" filed with the Otc Markets through their OTCIQ services. The second deadline, is the September time frame, and that is for all those companies "applications" to have been processed, and the files uploaded and filed with OTCIQ back office software. So, achieving those milestones, the companies will be "safe" from SEC's , shut down deadline. In fact, there's another chance for those who missed the deadline, and that is OTC Markets will move those to a "professional trading" tier. I don't have enough information about that, but will research and post ASAP. Now, at this point, I explained to Mr.Ron that all of our companies have been submitted and are in the OTCIQ application queue. And I also shared that some have already been approved, and our disclosures were uploaded. Mr. Ron then explained that OTC Markets were under tremendous pressure and their work load was even more challenging due to the COVID shutdown. He also commented how happy he was for all our tickers that "beat" the application June deadline, and that he will assist through his compliance office to have the rest of the companies get their OTCIQ codes, and therefore, beat the second deadline of September 2021. So with that, I'm happy to say, that we will have them all done, and uploaded at most by EOM march 2021. I wanted to share this, because there is so much false information in the markets, and it only creates more angst and anxiety among the shareholders. Whereas, we are almost in the clear!
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Dallas, Texas--(Newsfile Corp. - March 17, 2021) - Utilicraft Aerospace Industries, Inc. (OTC Pink: UITA) (the "Company") is pleased to provide a shareholder update.
Recently the Company was acquired by a group of new investors. Today, the new management filed Form 8K fulfilling its disclosure obligations.
The 8K (filed through EDGAR with the SEC) describes management discussion, decision making and consequent determination as to the "pathway" for the Company to return to "SEC Current Filer" status.
The CEO of the Company had numerous discussions with the SEC attorney's office in Washington DC. After reviewing several options that are available, the following option was agreed on and disclosed in the recently filed 8K.
Effective March 16, 2021, Utilicraft Aerospace Industries, Inc. is working on updating the filings and moving towards a U.S. Reporting: SEC Reporting current information status, and OTCBB "Current Status." The Company's management were in contact with the SEC attorneys to explore various options and pathways that are available for a "fully reporting filer" who is "delinquent" in their filings. The management now has a plan and a resolution as to what steps need to be taken to return the Company back to a "SEC fully reporting filer." The Company's new management and their CEO decided on one of several possible solutions available to a "delinquent filer." Recently, the SEC with additional help from the "Jobs Act", created a "Delinquent Filer Program." This program was designed to assist "SEC Filers" who are currently delinquent and may be in jeopardy of losing their registration. The management decided to use this program to get the Company back to "SEC Filer Current" status. The "Delinquent Filer Program" consists of several steps: 1. The Company will file a combined report in a Form 10K. This will be a "multi-year combined report" titled: "Comprehensive Filing Report Form SUPER 10K and 10Q". 2. The Company will have a newly hired PCAOB CPA firm to perform an audit and upon submission through EDGAR to SEC the Company's attorney will provide an "Attorney Opinion Letter as to the Current Status." 3. Once accepted by the SEC, the Company will then continue to file its reports and disclosure obligations in a timely manner. At this point the Company will also complete and file all the past 10Q and K's, to leave no "missing" filing periods.
"The new management, myself and our legal team is happy to have found a solution and a 'pathway' for the Company to return as an 'SEC Fully Reporting Filer'. We believe that we can achieve this goal in a timely manner and can beat the SEC final filings deadline of September 2021. This company has a tremendous potential especially once we get it 'current' and combine it with several companies and assets that our investment team already possesses in our investment portfolio. This company adds tremendous value as an investment while our ability to 'save this company' will protect and enhance its current shareholders position and shareholders value!" explained CEO, Mr. Edward Vakser.
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SHAREHOLDERS UPDATES: Today we want to announce that we (the management) have signed a deal, and retained a group of professional service providers to complete the SEC filings in order to upgrade the company to a "fully reporting current status." The company's current status is that: "It's a fully reporting filer". That means that all the Disclosures and Financials are audited by PCAOB auditing CPA's. Our group of investors and shareholders currently use a group of SEC registered attorneys, and CPA's, however, they are super busy with our other companies filings. Therefore, we added a whole new team to address UITA and its filings. We will keep updating as we see progress.
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I picked up 27k shares on the 13th and I clearly came in a little too early. I am thinking about picking up some more, but wanted to ask you what you like for an entry price, and what you might be thinking for a target? Do you have long and short positions?
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Entry of 0.013 or lower is just fine-I look for 5-7 cents by Oct21 or higher depending on their merger plans. I'm loaded with 1M and just awaiting their K filings.
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Winner, are you holding on through the CNBC article released Friday? I can't tell if all of that happened prior to Edward Vasker's command and current operations are unaffected; or if UITA trading might get halted by the SEC.
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SHAREHOLDERS UPDATES: An open Letter to our valued shareholders! I just wanted to thank one of our very important vendors, Jason B, at SIGNATURE STOCK TRANSFER. As our Transfer agent, for not only UITA, but SUTI and BDGR, Signature plays a critical role in the "publicly trading "arena. However, recently we discovered, that Jason and Signature Stock Transfer, his company, were responsible for catching the small group of "would be criminals" who defrauded and stole from several public companies. (see the MSNBC story link ) https://www.cnbc.com/.../men-charged-in-shell-company... Jason saw several submissions from several individuals that he felt were "very suspicious". He had no less than 10 companies as his clients attacked by these individuals, and one of them was our company UITA. Jason followed his hunch, and reached out to other Transfer Agents to comparer notes and his suspicions. All together, these individuals attempted to defraud over 50 companies, and so Jason reported them to SEC and other proper regulatory agencies and authorities. Although the news mentions 4 "victim" companies, and UITA as one of them, UITA was the only one who was not breached. I personally checked everything myself, and UITA is fine, no breach and no interference. So, thank you, Jason and Signature Stock Transfer for being alert, and doing proper checks and balances to keep "bad actors" away from our companies! https://www.cnbc.com/.../men-charged-in-shell-company...
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Just received our report from George, our "Audit Consultants Group", who completed all of our past due and delinquent filings. The Super 10K and all the documents were audited by a PCAOB firm, and our attorneys are submitting everything to the SEC, DFP department. We should be EDGAR-rising all the files shortly.
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SHAREHOLDERS UPDATES: Good Morning everyone! What I great way to start the week and this morning! We just received a confirmation of acceptance of our Edgar filings of UITA "Super 10K" and Q1. Here is the SEC response: Subject: ACCEPTED FORM TYPE 10-Q (0001477932-21-004881) THE FOLLOWING SUBMISSION HAS BEEN ACCEPTED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION. COMPANY: Utilicraft Aerospace Industries, Inc. FORM TYPE: 10-Q NUMBER OF DOCUMENTS: 11 RECEIVED DATE: 26-Jul-2021 06:08 ACCEPTED DATE: 26-Jul-2021 06:08 FILING DATE: 26-Jul-2021 06:08 TEST FILING: NO CONFIRMING COPY: NO ACCESSION NUMBER: 0001477932-21-004881 FILE NUMBER(S):1. 333-128758 I know that I'm a little more excited for the accomplishment, but even SEC told me that "Super 10K" and the new program hasn't been used that much so its very new. That is definitely the first time for me. So I just wanted everyone to know, because unlike OTC Markets, EDGAR filings has a different pattern and rhythm, and the original filings HAS to be first accepted by the SEC and then go for a review. Anyway, have a great and prosperous week...things are looking great all over the landscape.
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