No the facts not the hype.
They issue was concerns about the previous auditor not the company. The new auditors has to ensure 100% there is no problem with the audit or it might reflect on the company. This is why its taking a little longer.
PURCHASE AND SALE AGREEMENT clearly States.
The Closing shall be binding on the Parties upon completion of the Closing Conditions set out above and herein, however, final issuance of iTalk, Inc. common shares to UMS will not occur until iTalk, Inc. has received UMS audited financial statements in a condition capable of being filed with the SEC for inclusion in appropriate SEC reports.
(i) The (i) unaudited balance sheet of UMS as of August 31, 2015 and the related statements of income, stockholders’ equity and cash flow for the fiscal years ended December 31, 2014 (the “Fiscal Financial Statements”), and (ii) unaudited balance sheet of UMS as of December 31, 2014 (the “Interim Balance Sheet” and, together with the Fiscal Financial Statements, the “Financial Statements”), and the related statements of income, stockholders’ equity and cash flow statement for the period ended August 31, 2015, have been delivered to Talk prior to the date hereof.
Nothing I state is intended to be a recommendation to buy or sell, opinion only. Readers are solely responsible for how they use the information.
