10-Q - Ameri Metro, Inc. (formerly Yellowwood) (0001534155) (Filer)

Fri, Apr 19, 2:31 PM (417 days ago)

Ameri Metro, Inc., a Delaware-based infrastructure company, reported its quarterly performance ending October 31, 2022. The company specializes in technical infrastructure projects like toll roads, bridges, and high-speed rails, boasting over 100 contracts globally, each potentially worth around $20 billion. Despite solid funding from major financial institutions totaling approximately $950 billion, Ameri Metro has encountered significant regulatory and legal challenges. The company has not complied with SEC filing requirements for the past 90 days and has not submitted required Interactive Data Files in the last 12 months. These lapses are attributed to a substantial lawsuit filed by a former consultant, Andrew Lentz, claiming damages exceeding $389 million, which Ameri Metro labels as baseless. This legal battle has impeded the company’s ability to meet financial reporting obligations. Ameri Metro accuses Lentz of whistleblowing to the SEC, leading to an investigation and privacy violations against shareholders. Further complicating matters, the SEC’s pending stance on digital currency accounting conflicts with existing GAAP standards, posing risks of financial statement manipulation. In response, Ameri Metro is considering drastic measures including federal lawsuits against the SEC and Lentz, and potentially restructuring to evade SEC regulation. This report underscores Ameri Metro’s critical financial and operational challenges, significantly affected by regulatory scrutiny and litigation, which could impact future operations and market positioning.