iTalk Inc. (fka TALK)

[pb_trading]

Key points for iTalk Inc.

New investors fear the UMS,LLC bankruptcy, but the bankruptcy won't affect the shares of TALK, there are still huge unknowns, there are tons of gaps in information that would normally be disclosed in SEC filings but we have had access to court documents, but here is a timeline and consensus thoughts of long shareholders on the outcome.

> Reverse merger purchase and sale agreement 09/29/16 reported:

> Reverse Merger closing period 01/29/16 company began operating as one company.

> CFO deposition in May 2016 on Tech Data stated the merger was complete however all entities were still separate after the closing with the 8K. See extract of Dea deposition below on this topic.

> iTalk and UMS started owning, supplying and operating branded and unbranded stores.

> iTalk and UMS closed unprofitable divisions, refurbishing venture which got them in trouble in the first place.

> UMS’s subsidiary CPD Mobile entered into Chapter 11 to reduce 5 over million in debt.

> CPD Mobile monthly operations revenue is about $600k to 1 million dollars and net profit is about $30,000 dollars a month according to court docs.

> Telecom Acquisition Partners, Inc owned by CFO is bidding for CPD Mobile under Chapter 11.

>Preferred shares according to TALK CFO in court deposition were never issued to Lee and Family thus technically the original merger was never completed. There is contention whether TALK lied about completing the merger however I believe we are just missing information that under normal circumstances would be disclosed.

> NVSOS shows no preferred shares were issued and the TA won’t disclose.

> iTalk has various lawsuits in progress for note holders, but they seem to be settling or negotiating with them.

What’s going to happen here are some guesses by long shareholders?

> TALK is will be the target of another reverse merger and needed to clean up their balance sheets.

or

> TALK buys Telecom Acquisition Partners, Inc essentially acquiring CPD Mobile wholly where both companies operate with reduced debt and increased income which will allow the company to focus on new products or ventures.

There obviously could be negative outcome in any risky situation so take it for what it's worth. A Risk.

May 6th 2015 Deposition of CFO Richard Dea commenting on the mechanics of the reverse merger.

A. No. It’s for iTalk. Let me explain the merger a little more. It wasn’t an acquisition by iTalk. It was a reverse merger. So essentially, in that situation what ends up happening is that Mr. Lee essentially exchanges his ownership, his sole ownership, of UMS Corp, or United Mobile Services Corporation in exchange for eighty-five percent of the shares of iTalk. So, in fact, like I said, it’s sort of like, in that sense it’s a bit like United Mobile Solutions acquiring iTalk, but, in fact, the surviving entity is iTalk along with all of its subsidiaries.

Q But none of them are dissolving or disappearing. They are all still existing as separate corporations?

A. At this point, yes.

Q. That will be the result of the ultimate merger?

A. Yes.

$TALK