Just wanted to follow up on the restricted shares that are becoming free trading. There have been a lot of numbers thrown around, with one person saying there are over 1.3 Billion shares coming off restriction between now and March 1st. This is an overly inflated number. The actual number is only 325,000,000, and those all could have had their restricted legends removed as of January 8th. All these shares were issued as break off compensation from when Mr. White originally left Andiamo and the decision was made by new management that Utopya would be the only business the Company would have in it. And since they were duly and properly issued there is no reason or practical rationale for the Company to prevent them from becoming free trading.
As to the other over 1 Billion shares, after researching that “speculation”, we found the shares which were issued from 01/18/2018 to 02/28/2018 (862,415,200 shares in total) were incorrectly listed by management at the time and as of June 2018 all those shares were free trading and as such have been in the market and Andiamo’s float for months. The only ones listed correctly were the 200,000,000 issued on 03/01/2018, which because they are held by a current affiliate of the Company, they will remain restricted as long as Mr. White is an Officer and/or Director of Andiamo.
Look for an SWS update later today.