Utilicraft Aerospace Industries Provides Shareholder Update: Filed Form 8K Pathway to a Current Status
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.
Utilicraft Aerospace Industries, Inc.,
CEO: Edward Vakser
Safe Harbor Statement:
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, and domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77561