Yippy, Inc. (YIPI)

[Welcome2Pinkyland]

Everything appears cut and dry. Magna's grandfather was on the YIPI board. He hooked YIPI up with a loan though his grandsons. The grandsons sold collateral for more than the loan was worth- and that should be end of story.

Butt, Magna's wanted more mummies- and they did not want to submit to a third party audit.

YIPI's CEO called Magna names. Magna felt some emotional stress because of it and sued YIPI.

YIPI says they have proof of MAGNA wrong doing- corporate bribery and other- YIPI sued MAGNA. Which is nothing out of the ordinary for Magna- nearly 40 other OTC companies are currently suing Magna.

Check out this writ-up on Magna- I think it is why their IRP's are so proud of Magna and so eager to defend them:

http://www.bloomberg.com/news/articles/2015-03-12/josh-sason-made-millions-from-penny-stock-financing