Golden Ally LifeTech Group Inc (CE) (AQPW) News

Hi Toucan,
I read thru the last 10-K. They are no longer the accounting firm.
Since 2022 Fruci and Associates have been their accounting firm.
Here is a link to their website.
https://www.fruci.com/

They have been in business since 1938.

Here is an excerpt from the last 10-K
In the 10-K you see the company's Logo.
On Page# 15
https://www.otcmarkets.com/filing/html?id=16568489&guid=qYJ-kWW0Y5wfJth




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



To the Board of Directors and Stockholders of Golden Ally Lifetech Group, Inc.



Opinion on the Financial Statements



We have audited the accompanying consolidated balance sheet of Golden Ally Lifetech Group, Inc. (“the Company”) as of December 31, 2022 and 2021, and the related consolidated statements of operations, stockholders’ equity, and cash flows for each of the years in the two-year period then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2022 and 2021, and the results of its operations and its cash flows for each of the years then ended, in conformity with accounting principles generally accepted in the United States of America.



Going Concern



The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has an accumulated deficit, net losses, and negative cash flows from operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



Basis for Opinion



These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.



We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.



Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.



Critical Audit Matters




Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.




We have served as the Company’s auditor since 2022.



Spokane, Washington

April 17, 2023



PCAOB ID: 5525

I don’t understand what’s going on with this people. Keeping us in the dark for so many months is doing a great job. Management should know better. They are supposed to be Dr and well studied people. They should know better.

$AQPW - Under the Company's Profile on OTC Markets, they list their Accounting Firm as Ciro E. Adams, CPA, LLC.
There is a warning that Ciro is a "Prohibited Service Provider".
Wonderful.
https://www.otcmarkets.com/stock/AQPW/profile

$AQPW - Thanks for the information GreenOwner. I looked at the 3/31/23 Balance Sheet and it shows no Intangible Assets (Patents), no work-in-process and no property. It also shows only $1,600 of Research and Development expense on the Income Statement. At first I was alarmed by this - It seems like they are not developing a product. However, after reading further, it appears the product is coming from Taucoin Asset Management, LLC.

I hate to sound lazy and ignorant, but how much to you know about Taucoin Asset Management, LLC?

FROM THE 3/31/23 Financial Statement:
Overview

Golden Ally is a developmental stage company that is currently implementing its business plan, which is to be a start-up focused on a unique product offering. Our activities to date have focused on the development and exploration of water filtration technology and consumer products with AQP Bottled Water. We have been working with field experts and research institutions to apply and explore the ability to enhance water filtration for improved body cell absorption in commercialized water products. During the quarter ended March 31, 2023, the Company continued taking steps to implement its business plan, including taking actions under various agreements related to the production, marketing and distribution of its products, including under a Supplier Agreement with Taucoin Asset Management, LLC and a Strategic Alliance Agreement with Taucoin Asset Management, LLC.

They have ALL of their money invested in this company. At this point, the only way they can get their money out is to sell. But there must be enough volume and price to get out. I am wondering whether they have more technology that will play into this stock? Benjamin Yeung owns Patents. If they include other holdings into this company the stock price will explode much higher.

$AQPW - I was wondering if anyone had made the effort. Thanks for posting.
I kind of had the feeling right from the start that we, the existing shareholders at the time of the merger or acquisition, are just something that Management has to put up with for now. Not really a welcome from them at any point.
I suppose it makes no difference to me as long as we make some $$$$$ here!

I have tried to call them on the phone several times. I have sent emails several times. And I sent a snail mail letter to them. They do not reply. Nobody at home and no 10Q. Hmmmmmm?

GreenOwner, thanks for posting. Very professional looking site.

https://goldenaltg.com

$AQPW - Does anyone have a website for AQPW? Thanks.

$AQPW - They have not been late for recent filings. Hopefully it gets done soon or we at least get notification that the filing will be late (which they should have done already, since we're past the due date at this point).
Have we ever had an update from this management team?

Still no 10Q. They are late.

Where's the latest 10Q?

Good news

It's back today to Pink Current.

Currently: NM
No Market!

Expert Market

What is EM?

I have an update for you - we are now EM.

Has anybody called the CEO to ask about the Financials?
Any information about the bottling of the AQPW Water?
This company has been very quiet since inception.
We need an update.

Has anybody wondered what happened to the Quarterly Report (Q10)?
Please nudge them about their duty to file.

Think about all of the mouths they have to feed. They would not have added to their burdens by going public unless they had a game plane that would produce profits. These guys know what they have and they are positioning themselves.

Another thing is they didn’t provide a timeline for the affiliate co of when they will have the platform ready. Or maybe I couldn’t find it? Revenues expectancy and ROI for the payment of almost 2mm they did to their affiliate co. ?? It’s nice to see that at least an agreement was made but at the end of the game it’s all very very vague.

Compensation for high management crazy high 5mm usd or so?? Wow. And with cero revenues. Come on.
Going forward is a concern.
Many things are on the air and honestly it will be good from their part to provide details and prospects of what they see and want to achieve.

Looking/hoping for good things!

AQPW - wstinsider brings up a legitimate point. You say they have put up a lot of money - but some of it is going to a related party. Related party transactions often times smell. That's why GAAP requires that they be disclosed.

What is the related party doing to help AQPW?

The Financial Statements look very professional - like a company that has hopes of uplisting imo.

We will not know what is being developed until they report their results. They have put a lot of money and effort into this, so it implies that they are serious and not just blowing smoke. I was impressed with the David Geffen Medical facility in Los Angeles. They are currently doing research on the uptake of water based drugs and nutrients using the Aquoporin Water.

So**

Si we enter an agreement and we are paying a related party ??? And what they brought exactly to the table??


On January 3, 2022, Golden Ally entered into an agreement with a company owned by a related party, Taucoin Asset Management LLC, to develop and implement marketing strategies for its products and paid $1,000,000 on January 12, 2022, per the terms of the agreement for services, and subsequently another $200,000 was paid.

In July 2022, the Company paid a related party, Taucoin Asset Management LLC, additional amounts of $200,000 and $400,000 to develop and implement marketing strategies for Company products.


Any insights?

10Q Released:

https://www.otcmarkets.com/filing/html?id=16216144&guid=dGG-kKAgXc3UQth

AQPW - Nice transparency here. Lots of detail in that explanation.
GreenOwner, Thanks for posting.

Golden Ally Lifetech Group, Inc. (the “Company”) has experienced a delay in filing its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 (the “Form 10-Q”) by November 14, 2022, the original due date for such filing. The Company is unable to file its Form 10-Q within the prescribed time period because it requires additional time to prepare and review its financial statements, including the notes thereto, for the quarter ended September 30, 2022, primarily due to on-going transition matters related to various corporate transactions and transitions occurring during the Company’s first and second fiscal quarters, and the Company’s transition to a new independent registered public accounting firm in October 2022. As a result, the Company is unable to file its Form 10-Q by the prescribed filing date without unreasonable effort or expense. The Company currently anticipates that it will be able to complete the work described above in time for the Company to file its Quarterly Report within the 5-day extension provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended.

Understand. Let’s see and continue to wait. In my experience in investments is never good to be quiet. I hope they understand that.

Not YOU. The President, CEO, COO, and on down the line. THEY are arrogant. But their talents might just result in revenues.

Tks for the adjectives. I don’t see how I’m being arrogant on suggesting communication from management. It’s the normal thing to do.

Just because you have a high IQ and you are arrogant, does not mean that you have common sense, social skills or compassion for the people that support you. Don't give up on these guys (and gal). Nobody knows whether to expect anything during this Quarter. The least that we can hope for is that there is no bad news. The we can hope that the bottling process is pumping out full bottles. Then we can hope that these bottles have been placed on shelves in stores. Then............if we are really lucky........they might report some sales. Best not to expect much and then celebrate anything mediocre.

Green. I agree with that. What I don’t agree is that they came took the company and the CEO didn’t even presented himself nor a plan or vision of the company. That itself screams to me not so positive things about management. We shall see on the 10q. Not expecting much from it though.

It doesn't matter.
There is no volume. All Insider's own the company and they are not selling (and cannot sell for 2 reasons: 1- They must wait for 12 months after the Merger, and 2- There is no volume)

Coming down from .45

Insider's own (hold) 84%.
They cannot get out of their positions without significant volume. This means that they have confidence in what they are doing. The 10Q is due out in about 10 days. Then we will know what has transpired in the past 3 months.
750 shares is nothing. Don't get excited.

This new management with their silence are gonna takes us below a penny.

On October 18, 2022, the Board of Directors and acting Audit Committee of Golden Ally Lifetech Group, Inc. (the “Company”) appointed Fruci & Associates II, PLLC (“Fruci”) as the Company’s new independent registered public accounting firm. During the Company’s two most recent fiscal years, and the subsequent interim period through October 18, 2022, neither the Company nor anyone acting on the Company’s behalf consulted Fruci regarding either (a) the application of accounting principles to a specified transaction, either completed or proposed or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report or oral advice was provided to the Company that Fruci concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (b) any matter that was either the subject of a disagreement (as defined in paragraph 304(a)(1)(iv) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended (“Regulation S-K”) and the related instructions thereto) or a reportable event (as described in paragraph 304(a)(1)(v) of Regulation S-K).

https://www.sec.gov/ix?doc=/Archives/edgar/data/1317833/000149315222029353/form8-k.htm

AQPW $$$

They have 45 days for that so maybe up to Nov 15

https://www.otcmarkets.com/stock/AQPW/disclosure

AQPW $$$

Let’s see what they bring. This new management think that being silent is the best way. Let’s see what they bring.

10Q should be 11/01 for the period ending 09/30/22

(should be)

Does anyone know when is the next filing?

If they pull this off it will be jaw dropping, the talent is there, the product is there, it is just a matter of timing... at least management is not trying to "keep the hope alive"..... so we wait.
I bought this May 10 2022, it could be a long term capital gain by the time I am ready to sell. Or it could blow up within a week, who knows.... so we wait.

it would be nice to hear something again from the company. I sent several emails and never got an answer. I asked as a "client" , not as a shareholder.. very strange and boring

thanks for the PM SP. I have no premium anymore, so cannot answer. All good and nice here

Call in the brainiacs!

The Golden Ally Lifetech ("GALTG") AQP Active Water project is a derivative of an academic inspiration from the 2003 Nobel Laureates in Chemistry, Peter Agre, for the discovery and pioneering research of water channels, also called aquaporins ("AQP"), in cell membranes. The AQP active water technology roots from Japan, where the founder Prof. Kitagawa uncovered that water treated by an exclusive proprietary material offered enhanced biological effects. He proposed that the structure of water cluster altered by this proprietary water technology fundamentally distinguishes the AQP water with other functional waters. His exclusive partnership with a U.S.-based engineering team aims to mass-produce proprietary AQP water, firstly offering the distinctive water products in the U.S. GALT's mission is to advance human health through our proprietary water technology. Cells are the basic structural and functional units of life, consisting of a cytoplasm enclosed with a cell membrane. Cell membrane provides a protective barrier around the cell while regulates which materials or molecule can pass in or not. Like ionic channels, such as calcium ion (Ca2+) channel, potassium ion (K+) channel, sodium ion (Na+) channel, and proton (H+) channel, that regulate the transport of ions across the cell membrane, the transport of water across the cell membrane is mediated through water channels, also called aquaporins, and driven by the osmosis pressure across the cell membrane.

Zzzzzzzz

It's alive, this needs a review ... currently on the road