iTalk Inc. (fka TALK)

[1manband]

Perhaps they did not know there would be an issue with the issuance of Preferred shares. That could be the stipulation here. They could have just jumped the gun.

No, multiple SEC filings said the merger was complete. They even certified it, which means they committed a crime by lying.

"On January 29, 2016 (“Closing Date”), the Company closed (“Closing”) on the Exchange under the Purchase Agreement pursuant to which the Company acquired 100,000 shares of common stock of UMS held by Mr. Lee, representing all of the issued and outstanding capital stock of UMS, in exchange for issuing 106,250 shares of Preferred Stock of the Company to Mr. Lee and/or his affiliates, convertible into 10,625,000,000 shares of Common Stock of the Company (where each share of Preferred Stock is convertible into 100,000 shares of Common Stock). Upon Closing of the Exchange, UMS became a wholly owned subsidiary of the Company"

And this is just one of many examples from their SEC filings. It is irrefutable - the deal closed.

Or this one, 6 MONTHS later - is it in any way believable that they operated UMS as a wholly owned subsidiary for 6 months before they somehow realized the deal didn't close? No chance.

"On July 21, 2016, iTalk Inc. (“iTalk”) issued a press release announcing that United Mobile Solutions, LLC, an indirect wholly owned subsidiary of iTalk, filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Georgia"

Who's to stop them from merging/acquiring post BK?

TALK is insolvent and seriously delinquent in their SEC filings. What may "stop them" is that they have a legal judgement against them (just one, for now, but you can bet the other defaulted toxic death spiral agreements will lead to the same thing) for $406K, and they can request a garnishment order to seize any assets which TALK has, or will have.

They are also subject to SEC revocation at any time due to their filing delinquencies. The stock could disappear as soon as tomorrow.

No one in their right mind would merge anything into the toxic mess that is TALK.