Somerset Transition Corportion (TLVA)
Caveat Emptor status at OTC Markets
Effective 8/9/2013 Transnational Financial Network (fka Telava Networks, Inc.) underwent a reverse merger with Somerset Transition Corporation having already been redomiciled from California to Oklahoma. A 1 for 750 reverse split of TLVA stock was effective the same day. The ticker symbol will be TLVAD for 20 trading days following the split.
OTC Markets Company Information
| Shares Outstanding || 197,926 || a/o Aug 09, 2013 |
| Float || Not Available |
| Authorized Shares || Not Available |
Kimberly Peterson, CEO, President, Secretary
Former information regarding the confusion over the TLVA symbol valid until 8/8/2013:
NOTE: Transnational Financial Network, Inc., (TLVA) is currently a non-operating California shell, suspended by the CA Secretary of State. It can be traded because the ticker is active, but there is no business activity
Telava Networks, Inc. (Nevada) is now a subsidiary of Unilava Corporation (OTCQB:UNLA). It is not associated with the TLVA ticker.
The 2007 merger was rescinded in 2009 and Telava Networks of CA changed it's name back to Transnational Financial Network, Inc.
The TLVA ticker is CIK# 000105979 which the SEC lists as a CA corporation named Transnational Financial Networks, Inc.:
Because the name change was never filed with FINRA, OTC Markets and broker trading platforms display an incorrect corporate name for the TLVA ticker symbol. The lack of filing a corporate name change may constitute fraud under SEC Rule 10b-5.
OTC Markets shows the same CIK as the SEC and that it is a CA corporation: http://www.otcmarkets.com/stock/TLVA/company-info
Telava Networks, Inc., a Nevada private company, was acquired by a California public corporation named Transnational Financial Network, Inc. via a reverse merger in 2/2007 and TFN was renamed Telava Networks Inc. However, after the shareholders of Telava (NV) accused the original TFN (Televa CA) shareholders of misrepresentations regarding their liabilities, the acquisition/merger was rescinded effective 3/11/09. Rescission filing
Telava Networks of CA changed its name back to Transnational Financial Network, Inc. in March 2009. See here for the 8-K showing the new name.
No longer having a public company, the officers of Telava Networks (NV) purchased IWI Holding Limited, a British Virgin Islands shell in 10/2009. IWI redomiciled in Wyoming and was renamed Unilava Corporation. It began trading under the ticker UNLA in 11/2009. Unilava then purchased Telava Networks, Inc. (NV) as a subsidiary. See SEC filings: here and here
Contact Information for TFN:
Daniel Duplechan, President and CEO
Jehu Hand, Secretary
24 Calle de la Luna
San Clemente, CA 92673