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Re: None

Thursday, 05/15/2014 7:16:45 PM

Thursday, May 15, 2014 7:16:45 PM

Post# of 36237
Question about Pinksheets/OTCQB and Financing answered by CEO:

Thank you. We are in the middle of a significant amount of work including the 10Q. Please bear that in mind.

I think it is important for everyone to familiarize themselves with the OTCQB Rule changes. We continue with all OTCQB requirements as before, the new rule for a set PPS is new and only on that we have been moved off OTCQB. A consequence of the OTC, and in our opinion, arbitrary, heavy handed and unannounced, rule change, is that there are now TWO types of PINK companies.

OTCQB adherent companies that are fully reporting but do not meet the PPS and typical PINK companies that are self reporting and are unaudited etc. It is our position that the rule change has hurt our shareholders and has lumped companies like STLK that are in the middle of a lengthy, complicated, time consuming and expensive SEC process in with self reporting companies. So companies doing the "right thing" are punished. Any complaint that can be made has been made, we have been diligent and loud in our objections to the OTC on the issue of the Rule Change.

As can be seen from our public disclosures, just this year alone we have paid RRBB over $50,000 CASH in total to ensure continued "fully reporting status". That was precious cash we could have used elsewhere- IR, operations, PPA etc. So our commitment to being fully reporting has not flagged but it has a price and a cost. We do a 10Q due in a few days (extensions had to be filed) otherwise our filing and reporting status will continue to adhere to the SEC's standards.

Our restrictions on funding derive from the SEC process, not our OTC level. Namely the Form 10. The Form 10 restricts us because WE CANNOT RAISE funds (we cannot issue free trading shares unless using an "exemption") through an offer or a private placement until this process is finalized. It is my understanding, based on our experience, that our only options for fundraising until the SEC approves our Form 10 are:

1. Convertible Notes
2. 3(a)10

No one likes these options, but those are the only "exemptions" we believe are allowed until the SEC finalizes all the approvals. Without use of these mechanisms we have no capital. As we have previously mentioned, we need the capital and have been honest since the onset that we need to raise funds.

So we are not OTCQB due to lack of filings or reporting, but due to a brand new PPS test. The PPS is a test that is difficult to meet with the challenges entailed in undertaking the Form 10 process. More so for us who have to operate, pay for studies etc etc without much funding until the PPA is signed and or we add opportunities to provide us revenues as we achieve our PPA. Our focus is the business, more than the OTC level, as we cannot control the OTC's changes.

As to the price per share, we do not control that nor can we comment on what we think the price should be or will be, that would be a clear violation of SEC rules.

Best regards,

José P. Quiros
CEO/Managing Director
Versant Corporation
Skype jose.quiros1
www.v3rsant.com

Tel. (USA): +1.719.219.5797
Mobile (USA) +1.719.505.3785
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