My name is James P. Madonna of Megalife21 Progressive Discussions, Megalife21 Live and Megalife21 Hard Hitting Podcasts. This show in particular is about the exotic pet industry. I have first-hand experience for many years in the exotic pet industry, so has my brother-in-law, Jerry, and based on our personal experience, I would like to expose the industry, expose the many cons, the pitfalls, the flaws of the industry. It is a form of retail. Retail in the United States is very underhanded and sleazy, in my opinion. They lie profusely, they take a little bit of truth, they embellish, they blow it out of proportion, they give you all the pros to why you should purchase a certain item, but they withhold the cons. They do not tell you everything. I can go on and on about all dishonest forms of American retail and capitalism like fine jewelry, infomercials, products from infomercials that are inferior in quality that do not work based on false advertisement, but right now this show is going to be about the exotic pet industry, which includes arachnids, insects, different sorts, lizards, reptiles, which they call herpes, herpetology, and such. Of course, there are many YouTube videos that discuss the proper care of such exotic reptiles. Some of them are qualified professionals, many of them are not.  They just like to stick their two cents in, just like they do on social media, on Facebook, giving their opinion, giving you the impression that they know what they're talking about when they really don't. I have been misinformed by such punks on forums many times, and I have had my exotic pets perish on me because of the misinformation by these young people that pretend like they're experts, they pretend they know it all, they pretend they have the answer when they don't. And I've, to trial and error, mostly coming from the misinformation available on the internet and lying retail pet shop owners, managers, who try to sell you to Brooklyn Bridge pretty much when you walk in there. They try to sell you items that you do not need for the pet, okay, just to make a sale. Overpriced, obviously, items that are just not necessary that often breeders don't even use, but aesthetically, it looks nice, it looks pretty, and it comes at a high price tag. And they'll just load up your shopping cart with things that you don't need, and it ends up costing much more than the exotic pet itself, whether it be a reptile, a rachnid, or whatever. And this is all part of the underhandedness of sleazy American retail in our capitalist system. And that's just how it is, I mean, it includes car dealers, infomercials, and such. But we're going to stick to exotic pets. Now the photograph that you see right now in this podcast is a photograph of a baby Cuban red scorpion that was purchased by my brother-in-law. Actually he purchased six of them from a company called Swift Invertebrates. Kelly Swift is the owner, and in my opinion, these baby scorpions should not have been sold to the public. They're too young, they're way too small, and too vulnerable, okay. But hatchlings of any kind, newborns of any animal, any exotic pet, even lizards, should not be sold to the public because of their vulnerability. They should be kept, and of course they should be eating, putting on some size, and then when they're proven established healthy animals that have enough size that would prevent a high mortality rate, then they should be sold. They should be not sold as nymphs or tiny tarantula slings that are newborns, and in this case newborn baby scorpions that most likely have a high mortality rate. And sure enough, at $35 a pop, my brother-in-law lost, I would say four of them, four died on him prematurely, and they were in ideal conditions receiving appropriate size pinhead live food, and they still died. And I believe he has two left that are alive, that made it, and at $35 a pop, that adds up to a lot of money, especially since many of these online companies force the overnight $40 shipping fee, which for an arachnid is not necessary. A two-day priority, United States Postal Service shipment is sufficient for an arachnid. If you have to add a heat pack when the weather's chilly or a cold pack during a warm spell, a heat wave, then you do that. But to force the $40 overnight shipping, it's ridiculous to pay $40, which far surpasses the cost of the animal. And the shipping for surpasses the cost of the animal. It doesn't make sense. A lot of these companies use FedEx only, and FedEx is pricey, DHL is one of the most reasonable, but I would say the best would be United States Postal Service.  So they jack up the price of the shipping, so they're making a profit off of the animal, making the shipping, but that's a whole other scam, shipping and handling.  You know what I mean? Of course they have to handle it, but they got to charge you for every damn thing, like the medical profession. Okay, so they're ripping you off by jacking up the price of the shipping beyond what it really is. The creature is way overpriced, but my biggest complaint is online companies that sell animals that are way too young to the public because of the high mortality rate. Now that being said, I had a personal problem with a company called Reptile City, which is in Texas. This happened years ago. I purchased an Australian blue tongue skink, a young juvenile, not a baby though. I had no idea that this blue tongue skink was wild caught because it was not specified by the company, okay? It should really be capped of bread. Always go with capped of bread. Anyway, it wasn't specified where it was. It ended up being wild caught. It was infested with internal parasites. The animal refused to eat. I was hit with very high veterinary bills, okay, because the animal ended up being sick. Long story short, it died. So I emailed Reptile City and my answer was, really? That's the only thing the owner said to me was, really? What a question mark. He did not apologize. He did not give me store credit. He did not give me any restitution for selling me a sick wild caught blue tongue skink, okay?  Ken the Bug Guy sold my brother-in-law, for me, a young, it was a young, let me see, vinaigroon, which they call it a whip scorpion. It has no stinger, okay, a vinaigroon, all right? It shoots like acetic acid when it's threatened. Anyway, it was a nymph. He didn't specify the size of the nymph. It was the size of an ant, for God's sakes. The thing didn't eat. It was so friggin' tiny for the cost that he was charging and plus the shipping. Size of an ant, it died. Ken the Bug Guy insisted that, oh, it was eating a lot when I had it. It was packing away the insects, it was healthy, it was this, it was that. How could his description of a friggin' nymph that small, the size of an ant, be a healthy arachnid that was eating profusely, like he put it, okay? According to him, he's another one. The customer's always wrong, he's always right. You don't sell anything that is a newborn. The thing was the size of an ant, it was a newborn. I highly doubt if it was packing away the food like Ken the Bug Guy said, okay? You just don't sell anything that tiny. Only an expert can raise a nymph that small, okay? Only an expert would be willing to deal with fruit flies and pinheads as feeders. And that's another racket. Selling fruit flies, these retail scumbags want between like $18 and up to $20 for a jar of stinking fruit flies. You can put a mushy banana in a container outside your house and attract your own fruit flies. They actually get that much money for fruit flies to have a short lifespan. Absolutely incredible rip-off. The best all-round feeder has to be the Red Runner Turkistan roaches. Keep them warm and they will reproduce. You will have pinheads. They grow fast, the adults are much larger than jumbo crickets without any of the drawbacks of crickets. Of course, dubia roaches are outstanding.  They have a relatively long lifespan. They breed fast. It goes, the same thing goes for the Turkestans, but don't, crickets are absolute waste in a rip-off.  They crawl out and escape, they jump, they make a lot of noise. Just way too many drawbacks, okay. My brother-in-law had ordered from backwater reptiles, they mysteriously, the exotic pets, the arachnids he ordered, mysteriously died. They were living in the best of conditions, okay, all of his pets are in the best of condition, okay, the environment is perfect. They mysteriously died within a few days of arrival, okay. He tells backwater, backwater gets nasty with him, they have an attitude, like they don't want to give him a refund, they don't want to give him store credit, they didn't even apologize, absolute scumbags. This seems to be very common in the exotic pet industry. There's a pet store in my town called New Jersey Exotics, okay, the manager in charge, your name is Megan, and I've given her so many things, gifts that I, you know, items that I didn't need. I had surplus, I had extras, so I gave it to her. Over the course of the years I've given her things. She said thank you, she took them, but you know, any time I had something alive for, that she could resell in the store, she won't give me store credit, she won't give me any money, not one red cent. Not one red cent, not a store credit or trade in or nothing, she wanted it for free. Her excuse is that everyone gives her animals for free, so therefore she can't give me anything. But it's okay for me to give her other things that she can use as gifts. She's a millennial, she's young, and just like millennials, they feel entitled. They know it all, they have all the answers. They show no remorse in their selfishness, almost like a form of a sociopathic personality, very self-centered, and it's typical retail. Retail stores, usually you cannot bring anything to them and expect money or store credit. They will not respect you as a return customer.  They want everything for free. So this includes all retail stores in the pet industry. They all are scumbags. All retail is sleazy and underhanded. Oh, by the way, reptile shows. In my state of New Jersey, I can't speak for other states, but reptile shows have the nerve to ask for a cover charge over $7 to get in. Now, you're going to a reptile show with the intent of looking around and possibly purchasing something.  Why should a potential customer have to wait on a long line and pay a cover charge just to walk into the building if you are a potential customer that might be spending money there? Their excuse was what Megan told me was they have to pay for the lease of the building. They have to pay for the leasing. Yeah, but don't they receive rent money from the vendors, from the breeders that set up tables at a reptile show? Don't they make a profit from... Don't they pay for that leasing and many times over from all the rent that they collect from vendors? Hey, I didn't just fall off the turnip truck. I'm a very slick street smart person. I know they collect money from the vendors. So that leasing is paid for with lots of money left over.  Okay, so I have to disagree with New Jersey exotics and Megan about the reptile show. This reptile show in particular, I believe was in Teaneck, New Jersey. I went there, I saw the long line, I learned about the cover charge and I turned around and I left the premises. I did not go inside at a principle. At a principle, I'm a potential customer. The vendors are paying rent. The breeders, the vendors are paying rent. So don't tell me that you need $7 or $8 from the public to pay the leasing on the bill.  But how much is really honest in the state of New Jersey anyway?  And if you're in business, of course, never trust what a CEO tells you. Okay, you can't even trust what the government tells you. So getting back to the beginning of the show, which is a reflection of the photo that you're looking at, you see the baby Cuban Red Scorpion that was sold by Swift Invertebrates. And then you see it next to a coin, a penny, I believe. And you see just how tiny it is. $35 for that? Are you kidding me? $35 for that? Plus he wanted $40 FedEx overnight shipping for a tiny little ant-like baby scorpion like that with a high mortality rate.  I don't trust, and rightfully so, I don't trust anyone in retail. The pet industry is a rip-off just like fine jewelry, just like infomercials, just like car dealers. Okay, and I mentioned some people, some individuals, I name names, that all have been inducted into the Progressive Discussions Chisler's Hall of Shame, and rightfully so. Okay, you know, at a good will, if you're a steady customer, and you're bringing something of value that your store is going to make a profit, a decent profit off of, at a good will towards a steady customer that has been giving you things, at least give the person's store credit. Don't make up an excuse that you can't give any money and you want, you're willing to accept it, but for free, you know? That's like spitting in the face of a customer who's been going to your establishment for a long time. The same thing happened with my brother-in-law, and Swift invertebrates. He's made so many purchases from them, spending that damn overnight $40 FedEx shipping. Okay, paying all kinds of money, ordering many, many tarantula slings, scorpions, whatever, what have you. Okay, the guy showed no respect for that fact that he's been a long time steady customer, no store credit, no apology, no refund, nothing. Okay, total contempt for his customers, and my brother-in-law spent a lot of money dealing with Swift invertebrates. And from what I understand, there are many people that are very angry at backwater reptiles. If you're in business, you have to do the right thing, that's all. But getting back to people like Ken the bug guy and Swift invertebrates, even if it's a baby, a hatchling lizard, you do not sell any newborn creature to the public. Because the mortality rate is high, you do not know genetically how strong that baby is going to be. If it's going to survive, you have to get it to start eating and put on size before you sell it. And please do your research, do not go to forums.  Do sufficient research from reputable websites, from people who know, like herpetologists, and listen to the experts. Okay, I'll give you an example, instead of spending a lot of money on a flimsy plastic critter keeper, you can go to Walmart and buy a sterile storage container and burn holes in it. And they make perfect, very, very cheap critter keepers. Okay, and just make sure that even with creatures that need humidity, make sure that the humidity is not too high. You should not see condensation on the side of the enclosure, because what will happen is fungus will grow, bacteria will grow, and then you'll end up with fungus gnats. And bad things will happen, all right? Before I forget, Ken the bug guy kept on telling me after I asked him what is the ideal and proper environment for the vinagrum. He told me to use the coconut fiber substrate and keep it very moist, very damp, until it appears like used coffee grains and maintain it that way. Well, guess what? The vinagrums died. The giant vinagrums, which were not full grown, they were juveniles, they died from the excess humidity because Ken the bug guy insisted to keep their enclosure very humid. Oh, they need humidity. I'm thinking to myself, how could they need so much humidity if they come from the American Southwest, if they live in deserts? Even the ones in Florida borrow near dry sand, okay? So, I don't know if he said that, so it dies on me and I have to keep on ordering more from him. Because I also receive the same misinformation from the owner of Air Plant City, because I'm also a Talancia enthusiast. And every time the woman owns Air Plant City would give me advice, the air plants would perish. So, you gotta be careful when it comes to advice from people that are in the business of selling anything alive through a retail business. Anyway, that wraps it up for this Megalife 21 hard-hitting podcast. We'll see you next time on the next topic.


Hey, this is Brett, and this 2015 Ram 3500 Megacab Short Box Dual Rear Wheel Big Horn is stock number 13977Z. I am here at Summit Automotive in Fond du Lac, Wisconsin, you're new and used heavy duty truck and Ram headquarters. This 2015 Ram 3500 has the 6.7 liter high output Cummins diesel, puts out 385 horsepower, it's paired up with the Eisen heavy duty six speed automatic transmission, and I guess it's not really the high output, but when paired up with the Eisen transmission, the 6.7 Cummins diesel puts out 385 horsepower as opposed to 370 with the normal transmission. Anyways, this truck has been fully safety and inspected by our service shop, has a fresh oil and filter change, all the fluids have been checked and topped off per the state of Wisconsin inspection process, and this truck is 100% ready to go, super clean all the way around for being a 2015, you're going to be amazed, and that's what I'm going to do in this video. I'm going to go all the way around inside underneath, start it up and take a look under the hood, give you the most accurate representation that I can of the truck. I'm steel, pearl coat is the color, I shoot all my videos in 4K, and if you like the video, subscribe to the YouTube channel, click the bell notifications, get updates on the videos I do each and every day as well as having access to one of the largest catalogs of vehicle walk-arounds on YouTube, 8000 videos and counting, this one comes with the steel wheels with the chrome wheel simulators, they are in fantastic condition, it has six brand new Lofen X-Fit HT tires, these are LT 235 80R 17s, they are brand new, still have the little wear knobs on them, we put those on in our safety inspection, frame and under body is in really nice condition for a 2015, this one is out of Pennsylvania, clean title history on it, look how clean that paint is on the front fender there, looks really good, no dents or dings, has the crystal clear headlights and factory fog lights, front bumper is in fantastic condition, no major dents or dings on there, you get the chrome trimmed grille as well, and that hood is in excellent shape, I didn't see any dents or dings on there, passenger side front fender is in really nice condition as well, no dents on there, and the passenger side front wheel simulator is absolutely perfect, maximum steel metallic, one of my favorite colors, it's got a lot of metal flake in it, some purples, greens, some blues, and what's really cool about this color is that in the daylight it looks blue, like it kind of does right now, at night it looks gray, or in the afternoon it looks gray and then at night it looks black, so it's really a cool color, depending on the lighting, as you go down this side of this 2015 Ram 3500 take, notice how clean that body is, how reflective and mirror like that paint is, I take these HD videos, so if you're far away or even if you're close by and you just cannot make the trip down, but you're still interested in purchasing the truck, you can see the truck, hear the truck and have confidence in the vehicle that you're looking at before you even get here, so when you do get here there's absolutely no surprises and you can make a smart and informed buying decision from wherever you're at, now if this video helps you make that buying decision let your salesmen know that you saw the video, it was helpful and that Brett sent you and then I can keep doing these videos each and every day for our amazing customers all over the United States, rear wheel simulators are very nice as well and the back tires are brand new too, you can still see those wear knobs on there, frame and under body is in excellent shape, just a little surface rust at the welds but other than that really clean has all the remaining factory exhaust and look at how nice that body is under there, lower rockers, cab corners, there's no corrosion on them, nice step bars, the dually tub is in fantastic condition, I didn't see any major rock chips, no major dents, that paint is just fantastic on this truck and as you come around to the back of the vehicle, the rear bumpers in great shape, no dents or dings on there, I mean you really couldn't ask much for much more on a 2015, you get the backup parking sensors, full towing package which includes a receiver hitch 4 pin and 7 pin wiring and that tailgate is in excellent condition as well, it is a locking tailgate, you get a very nice spring bed liner on this one, fifth wheel and goose neck prep package, 7 pin wiring and that bed liner is in great shape and it goes on to the tailgate, shuts nice and solidly and as we go down the driver's side just as clean as that passenger side, no major dents on the box here, looks really good and for full disclosure this back wheel simulator is just as nice as the rest of them, I mean they look brand new, it's crazy. Driver's side cab and doors are in great shape as well, didn't see any dents or dings, it does have the heated fold-up tommy or built-in directional signals, they fold up like so, they fold in like that, show you the back seats real quick, big horn package gives you great cloth interior, does have latch child safety system for any child car seats you may have, you can see that these seats actually recline back just a little bit on the mega cabs, these backrests fold down as well, you get a nice storage area back there, these seats do fold down completely flat as well, giving you a big flat area, so if you got pets or something you can put them back here, factory all-weather floor mat and child safety locks on the back doors inside and bottoms of the doors all look really good, show you the VIN sticker here, no Canadian trucks here, and then the tire and loading information sticker is right there, once again the big horn package gives you the gray cloth interior, you get the bucket seats in the front, no rips, no tears on these seats, they're in very nice condition, power driver's seat with lumbar, these front seats are heated, factory all-weather floor mats, auto headlamps and power pedals, power windows locks and mirrors, it looks like these mirrors do power fold in, I always like showing both sides so that you know that both sides are working properly, hop inside, check out the miles, radio and everything that this truck has to offer on the interior, all right you can see that you get the 7-inch LCD display, digital speedometer, compass, temp, range to empty, miles per gallon current, can change all those corners to read whatever you want, instrument clusters, very nice and clean, comes with the heated leather wrap steering wheel, Bluetooth, I'm sorry cruise controls on the right, Bluetooth and information center controls on the left and audio controls on the back of the steering wheel, this one comes with the 8.4 3C radio which gives you the factory navigation system, there is highway 41 so that is working nicely, you also get AM, FM and Sirius XM radio capabilities, you have your heated seats and heated steering wheel controls here as well, you can do your climate controls here too, including your dual climate controls and then you get your different apps that are on here right there, now I don't know if it's gonna, yep, backup camera is right there and that is working nicely, those have the Alpine premium sound system, you can see the badge right there and down here are your more tactile climate volume and tune controls, turned out four wheel drive factory brake controller, heated seat buttons and heated steering wheel button, stability control, tow-haul factory exhaust brake and your back of parking sensors, you can turn those off and on 115 volt, 150 watt plug-in passenger side format and seat are in excellent condition as well, smells very clean inside the truck, you get the speakers in the ceiling, part of that Alpine premium sound and that headliner is in fantastic condition as well, you do get map lights, power sign rear window button and home link buttons for garage door security systems and lighting systems, assistant 911 buttons in the mirror, start it up, take a look under the hood, starts right up, no check engine lights or anything like that, I would personally like to thank you for checking out the video today and hopefully from this HD video you've been able to verify the quality condition options and of course cleanliness of this truck all the way around inside and out, all the lights are working nicely, under the hood we have the 6.7 liter common diesel engine, 385 horsepower with the icing transmission, engine base very clean runs very smooth, once again this truck has been fully safe and inspected by our service shop as a fresh oil and filter change all the fluids have in Chaktan topped off, it has six brand new tires, there is the emissions sticker and this truck is 100% ready to go, I would highly recommend this truck for make quality and condition standpoint and to see more pictures of this truck or one of our 550 new and used cars, trucks, SUVs, minivans, wranglers, half-tons, two-quarter tons, one-tons, you name it, you've got to go to the website right there summitauto.com, full pictures and descriptions of every single vehicle all at summitauto.com and if you'd like to check out more HD videos you can go to youtube.com slash summitauto, click the bell notifications and get updates on the videos I do each and every day as well as having access to one of the largest catalogs of vehicle and heavy-duty truck walk-arounds on youtube, in fact in a second you'll see a link to subscribe to my youtube channel in the upper left, a link to all the ram 3500 truck videos I've done in the upper right, link to this vehicle on our website in the lower left and a link to one of our latest youtube videos in the lower right, click those check us out, we're super excited to help you with this ultra clean 2015 ram 3500 mega cab short box dually big horn in maximum steel metallic thanks again for checking out the video remember to like, subscribe and share on the youtube channel I really appreciate it thanks again


Hey everyone welcome to another video lesson from navigation trading comm in this video I want to talk to you about what to do if you get assigned stock So this morning we woke up and we got an email from our broker TD Ameritrade and Let us know that we had been assigned on our DIA position So what happened and what do we need to do what happened was we had a short call Vertical spread on so we were short three options At the 255 call and we were long three options at the 260 call now today is April expiration Okay, so there is a high likelihood that we had our in the money calls We're gonna get assigned and sure enough it did happen now. Is this a huge issue? No Does it change our overall risk in the trade? No So the only thing that we need to do is just address the trade now There's a couple options. So we got we got assigned our short call Okay, it's zeroed out now because we got assigned so the options are no longer there And what that does is that turns it into? 300 shares of short DIA stock, okay, so now we have 300 short shares of DIA, so obviously if it goes down that would benefit us and And so it's the same risk profile as before So if we click on the shares, we've got 300 short shares So there's a couple things we can do if we wanted to keep those short shares We could certainly do that and we could sell puts against it to kind of reduce cost basis But we weren't in this trade to get assigned We weren't in this trade to be trading actual shares of stock We had an option spread that we are looking to benefit from a down move So in being that it's expiration day all we're looking to do is close this out So we've got 300 shares and all you have to do is right click on that create closing order You're gonna buy back the 300 shares and we'll be out of the trade Now the other question is what do we do with the long shares and and don't pay attention to these last four This is an iron condor that's out in May. So that's not what we're dealing with here We're just dealing with the April position So the other piece is we have this we have three long calls And so what do we do with that? Well, we're just gonna close that out as well I mean as you can see we've made money on this part of the trade We're actually down overall on the trade overall, but we're up on this So you could do a couple things. I mean if you thought price was gonna continue higher You could obviously hold this and just let it expire worthless or in this case. We're just gonna close it out as well So that's all there is to it We don't like to get assigned but we definitely knew going into holding this position all the way to expiration day that that was certainly Something that could happen But it's it's really not that big of a deal And in fact, this is the first time that we've gotten assigned on a position in our alerts portfolio in two years So, you know, we took that risk going into expiration But I I'm actually kind of glad that it happened because I want to show everybody How insignificant of a deal it really is and if it happens all you got to do is close it out and move on And you're done with the trade. So I hope that helps. We'll talk to you in the next video


Tom here from Orange Systems. In early December of 2023, some of the users of ubiquities, NVR, and security camera devices reported seeing other people's devices and notifications through the company's Unify Cloud Dash services. Unify addresses quickly and I think adequately. But obviously this has a lot of people concerned and actually a lot more people aware of what these cloud companies have control over and that comes down to your security keys. Now this is not saying that you shouldn't use the cloud but I think everyone should be an informed consumer and understand the risk of attaching things to the cloud. So that's what this video is about, is to talk about how Unify handles it, how it's handled in general with a lot of these cloud companies and better ways you can think about this and then ultimately lead you to the decision of whether or not you wanna use these cloud services. So let's get started. Now I wanna start here at unify.ui.com to talk about the convenience of their cloud service. I've logged into this, I have a few different devices, some other family members I manage and I do think this is nice for conveniently tying these to their cloud system. It allows the notifications from different NVRs or different Unify controllers to be managed right through here. I do have my Unify Express and we'll use that as an example. Now I've only logged in once and all these are different systems and when I click on Unify Express it brings me right into the Unify Express. Now Unify Express as I noted in my review of it does not require you to tie it to the cloud but I chose to tie it to the cloud. Well partly for this demo and partly for the convenience of being able to manage this in my lab without making any firewall changes for my firewall or on the Unify Express. It's actually behind my firewall so I'd have to make a couple different changes to make this all work and well I do like the convenience of the cloud but obviously let's talk about how that convenience comes to be and how this works with ubiquity but let's start with some of the basics. The least convenient but most secure way to do this you have Unify devices on your network then you have your firewall and maybe you set up a VPN on your firewall. You can also use a VPN that's not on your firewall but for simplicity's sake we're gonna talk about it being on the firewall and then you want all that data to be able to get to your phone because you wanna view your devices, your cameras remotely so you'll have to also set that VPN up on your phone. Now the credentials that you created for your Unify devices you can just log in once you've established this secure tunnel connection and there's not anybody on the internet that we have to worry about trusting at all because we're encrypting it from your firewall all the way to wherever your offsite location is that you'd like to view or manage your devices. Now for convenience we have the way Unify does this. First you create your credentials for your Unify device and I talked about in the Unify Express it's not required that you tie it to their cloud but you can and I do have a Ubiquity cloud account. The difference is though when you tie it to the cloud Unify creates their own set of keys that they manage on here. This allows the Unify devices to talk to the Ubiquity servers in the cloud. Then you take your cloud credentials and log into your device and now Unify is handling the encryption between your device and their servers and they're brokering that connection for you essentially relaying it. This is very convenient but of course as we've noted in the beginning of the video this comes with risks. We have to trust that Unify will manage these keys properly and this applies actually to most cloud companies they do much the same thing they're going to handle the keys but this brings us to a third solution that a lot of people may ask about and that's a reverse proxy. I've done a video already on cloud player tunnels that's why I brought it up as an example you'll find that video in the description but they handle the security certificates which gives them visibility into the data that traverses that system. If the Unify credentials are passed and someone is actually actively sniffing those packets and this is in no way an accusation that cloud player would do that it's just understanding that the ability to do that is there because they're doing the certificate termination and isn't applied to any of the reverse proxy systems that you may use and Synology offers their quick connect service and this works much the same way because they actually spin up the certificates for you they would have the potential to see that data that traverses that system. As I said, not an accusation that they are looking for that data they probably don't want that data that's why they set these systems up but if someone were to in a threat actor as an example get inside these networks they would then be able to unravel certificates and see that data that traverses those proxies. Now which one of these three options you choose comes down to your risk tolerance. I'm not telling you which one to use I just present the data so you can understand that if you have zero tolerance for a third party having it a VPN with your firewall is certainly the way to go if you go well I like the convenient notifications that the cloud system provides and I don't have to do any setup well then the Unify cloud works well the proxy solutions not bad but please note as I said in the cloud player tunnel video and I brought up Synology because I've talked about them a lot on this channel if they terminate the certificates and in both of those scenarios they do they potentially could have visibility into those certificates so there's just something to consider let me know which works for you leave your thoughts and comments down below like and subscribe if you wanna see more content from this channel if you want a copy of those graphs I did you'll find those over on my Github and if you wanna have a more in-depth discussion about this and other topics head over to my forums forums.lortonsystems.com thanks.


Hello, and welcome to the session. This is Professor Farhad in which we would look at CPA questions that deal with the public, company, accounting, oversight board, or PCAOB. This topic is covered on the auditing CPA section exam, as well as an auditing course. Now, the reason we want to kind of make sure we understand the role of the PCAOB, because we want to understand there's a PCAOB and there's the AI CPA. I did some questions concerning the AI CPA, and now we're going to talk about the PCAOB. The first thing is you want to differentiate as this. The PCAOB deals with issuers. Issuers mean think of publicly traded companies that issue stocks to the public. When we are dealing with the AI CPA, we're dealing with non-issuer or private companies. And this is a confusing topic for many students. And because it's a confusing topic, the AI CPA will find easy time trying to trick you on the exam. So you have to know which rules apply to the AI CPA, which rules apply to the PCAOB. And going over the questions will help, but if you want more, visit my website to learn about this topic, because I do have a whole chapter about PCAOB versus AI CPA. As always, I'm going to remind you to connect with me on LinkedIn if you haven't done so. YouTube is where you would need to subscribe. I have 1,700 plus accounting, auditing, tax, finance, as well as Excel tutorial. If you like my lectures, please like them, share them, put them in playlist if they benefit you. It means they might benefit other people. Connect with me on Instagram.  I strongly suggest you check out my website. Let's take a look at the first question. Under the PCAOB, tax services may be provided to an issuer-audit client. So again, issuer means publicly traded company. They issue stocks to the public. One, without pre-approval from the audit committee. So do you need approval or you don't need an approval to provide tax services? The first thing you need to know is this. If you are allowed to provide a tax service, you need approval. So without pre-approval, it's not gonna work. You need approval. So before we cross out one and we cross out C. Provided that the tax services do not include aggressive tax transaction. Can you provide tax services as long as they don't involve aggressive tax transaction? And the answer is yes, but you need approval. Okay, so the approval is still there. You would need the approval, not approval. You need approval. But the tax services cannot be aggressive. In other words, you cannot take an inserting position or an aggressive position. Simply put, basically, basic tax services, that's fine. So the answer is two only. So you need approval and it cannot be aggressive tax transaction under the PCAOB. Let's take a look at the second question. The PCAOB required a registered CPA firm to do what? Okay, one, provide concurring or second partner review of each audit report. And the answer is yes, what does that mean? It means if you are conducting an audit, there's always a second partner who's reviewing the audit either simultaneously, provide a concurrent or a second partner after each audit. So someone at the firm is looking over your shoulders. So one will stay, A is out, B will stay, C will stay and B will stay. Two, describe in the audit report the extent of the testing of the issuers internal control structure and procedure. Do you do that in the audit report? And the answer is yes, under the PCAOB for publicly traded companies, you have to describe in the audit report the extent of testing of the issuer. So one and two, B will stay, C is out. Actually, by process of elimination, it's one and two because we don't have one, two and three, but let's make sure that three is not correct. Maintain all the documentation. For sure you have to maintain all the documentation for a minimum of five years. And the number here is incorrect. It's the minimum of seven years. And the reason why they make a big deal about all the documentation is because Arthur Anderson, what they did is they shredded their documentation. They simply shred them when they get caught when the Arthur Anderson fraud broke out. What they did is to hide, they started to shred. Therefore, he can't shred documents anymore. You have to keep them for seven years. So that's why. So here you just have to know it's seven years. And you might get a question exactly about this. How many years do you need to keep your documentation? There's a good chance you might get something like this because what else can they ask you about the PCAOB? Well, they could ask you some facts and this is one of the facts. Under Sarbanes-Axley, registered audit firms are required to report which of the following information to the audit committee of audited corporation. Now also Sarbanes-Axley, it's part during the same era of the PCAOB. Actually, Sarbanes-Axley is these two senators that created this whole thing. So that's why it's called Sarbanes-Axley. So under Sarbanes-Axley, the registered audit firms are required to report which of the following information to the audit committee of the audited corporation. So what are they required to report to the audit committee? A schedule of unadjusted audit differences? Do you think they'll have to do that? I would say yes. I would say they will have to show them any unadjusted schedule of unadjusted audit differences. It hasn't been adjusted and it's a difference between what we think and what the client is. So if you're thinking about an account balance, we think it's for account, for example, account receivable, you think it should be 8 million. The client is saying it should be 8.5 million, okay? So there is a schedule of unadjusted audit differences. There's a half a million of audit differences. Will you communicate this information? Yes, any material amount, any serious communication, it has to be done through the audit committee. So one is will stay, A will stay, B is out, C will stay, D is out. The treatment that the audit firm prefers regarding alternative accounting treatment discussed with the corporation management. Do you have to tell them about alternative accounting treatment that were discussed? Believe it or not, you have to do that too. For the record, so you have to do both, C. So the treatment that the audit firm prefers regarding alternative accounting, you have to let them know. This is our preferences and we discussed this with the corporation. This is what how things should be done. Let's take a look at these questions. According to the PCAOB, which of the following must be rotated off and audit engagement every five years? So simply put, if you're a partner and you work on the firm for a period of time, five years, you have to leave that engagement. Go do something else. Just you can be more than five years on a particular engagement, okay? Lead partner, will they have to take off? And also they have to take off for five years. And the answer is yes. The lead partner would need to. Because they're the lead partner, they got to know the business. They're too much invested after five years. So you know what?  So we keep on and we keep C. Reviewing partner, will the reviewing partner also need to stay away from this engagement? And the answer is yes. And the reason for these rules, once again, to strengthen objectivity and independence between the auditor and the client. So after five years, you bring a new partner with new sets of eyes and they would look at the financial statements. They would look at the procedures differently. They would look at the evidence differently. That's the whole purpose. Rather than staying with the client for a decade or so where you can have, you become, you and the client becomes technically one. And that's what you're trying to avoid in all these roles. Let's take a look at this question. On purpose, I had this question here. It's the last questions, but it's on purpose. This is the last question. For a firm that's engaged to audit and is concerned about independence, tax services related to confidential or aggressive tax transaction would be a violation of what? Remember when we started this session, I started with the first question about taxation. And I told you, you cannot, the PCAOB does not allow you to take aggressive tax transaction. So definitely your independence will be impaired. So it's a violation of the PCAOB. So if two is out, B is out, C is out. Now we have to know if you are auditing, if you are auditing a non-issuer and following the AI CPA standard, can you provide aggressive tax services? And the answer is yes. Under the AI CPA, it doesn't impair your independence. Therefore, the answer is yes. Therefore, the answer is A1 only is the answer. As always, I'm gonna remind you to visit my website farhatlectures.com for additional resources. Your CPA investment is 20 to 30 years, if not more. It's a huge investment. It's gonna pay different. Whether you're taking a review course or not, you should be taking a review course actually. I misspoke. But if you need additional resources, I do have lectures, lessons, tutorial about practically all, not all, but most of auditing, FAR, TAX and BEC on my website. I strongly suggest you check it out. Don't shortchange yourself. And if you're studying for your accounting courses, my website can also help you improve your performance. Accounting is worth it. Invest in your career, invest in your life, stay safe and check out farhatlectures.com for additional resources.


This a ritual right the last time we went to the Super Bowl. We burned the Patriots Jersey and we won So it was only right that I want this room is stolen this Kansas City Chiefs Jersey and put it to the flames He's been 300 something out of what I thought I bought that for cheap, man.


Our journey started on different sides of Dublin. What? On the south side? Not front. I grew up here, in Lusk, where you could always find me building things, whether it was houses made out of Lego or giant towers made out of pioneering poles with the scouts. And I loved exploring, going outdoors, looking at the stars and always imagining what was out there. Basically, I always wanted to be an astronaut. And it was similar for me growing up in my hometown of Temple Oak, where I wanted to build things, explore things, climb trees and hopefully get out of them, try everything there was. And Avian and I both did that in separate parts of Ireland, until we both ended up at the same university studying physics. Yeah, where I was a year ahead. That means you're older. Do you mean that means I'm more mature? No, no, I really don't. I currently work at the Insight Centre for Data Analytics, where I'm the Education and Public Engagement Manager for our two Dublin sites. My job is to showcase the cutting-edge research that's happening here in the universities to people of all ages. And we do that through different events like girls' hackathons, we do school workshops, things like thesis in three and diving into space. And I work here at the Cool Plans Experience, where we're building a visitor centre all the climate changes, impacts on what we can do to make a difference. It's a great place to work with great people. And the view ain't so bad either. We also partner together on different projects, working with children from disadvantaged backgrounds and getting them excited about science, technology, engineering and maths. And also training postgraduate students to communicate their research and to do science outreach. Various other projects we get involved in as well. You can learn about those on Twitter. Yeah, if you follow us on Twitter, that would be great. But what you should also realise is that we're both physicists. And as such, we've been trained and taught how to see the world as it interacts on a fundamental level. And that's really important, but the world is much more than just interactions on a fundamental level. There are loads of fun. And mental. Interactions that happen all over the place. And that's why we're taking this science course all around Europe to meet you and to learn about all your tough hacks, tips, tricks and remedies, and to share some of the ones from the Doing It Together science team. Exactly. So follow us on Facebook, Instagram, Snapchat, whatever you have. Or if you're lucky enough to be in the same area, come up and say hello. Yeah, and we've got some sun cream and some yogurt for you. You can decide which one of those you want to put on your body. One of them will attract bees. To find out which one, tune in next week. It's the yogurt. Of course it's the yogurt on New Zealand. Come block out some razors at the Wildermura Festival in Drabcow. Or why not join us for a workshop at the Long Night of the Museums in Berlin.