M&A - Yuenglings Ice Cream Corp

Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Acquisition

Type: New

Accession Number: 000182912625002695

Filing Summary: Yuengling's Ice Cream Corporation is transitioning into a diversified technology holding company, modeling its strategy after Berkshire Hathaway and Alphabet. Its flagship company, ReachOut, specializes in cybersecurity solutions for small to medium-sized businesses. The company has adapted its growth strategy from acquiring larger companies to targeting smaller, promising firms for better integration and scalability. ReachOut aims to enhance its offerings through AI and automation, establishing itself as a disruptive force in the cybersecurity sector. The new venture, TRUSTLESS, focuses on blockchain-based identity management to diversify revenue streams. The company seeks to provide enterprise-level services to underserved SMBs across the U.S., capitalizing on a gap in the market left by traditional providers. Key risks include integration challenges, the rapid evolution of technology, and potential public scrutiny due to its high-growth profile.

Form Type: CORRESP

Filing Date: 2024-09-11

Corporate Action: Acquisition

Type: Update

Accession Number: 000182912624006218

Filing Summary: Yuengling’s Ice Cream Corp filed a response to SEC comments dated June 12, 2024, regarding its Form 10-K for the fiscal year ended October 31, 2023 and its Amendment No. 1 to Form 8-K filed on April 30, 2024. The Company updated the SEC on its change in fiscal year end to December 31. The transition report required under Exchange Act Rule 13a-10 was filed on September 11, 2024, and covers the period from November 1, 2023, to December 31, 2023. The Company discussed the audit process related to its acquisition of ReachOut Technology Corporation and noted the acquisition of RedGear LLC prior to this, highlighting challenges faced in financial reporting and the need for adjustments due to inadequate controls. It was concluded that interim reports would not provide meaningful information given the circumstances surrounding the financial records at the time.