iTalk Inc. (fka TALK)

[21ZNA9]

SCAM! UMS NET INCOME NEGATIVE $1,363,705 8K Deficit is $2,799,782


They have NEVER had income and only sell value added products, LOL, to REAL T-Mobile dealers. Total scam here folks.

As shown in the accompanying financial statements, the Company incurred a net loss of $1,363,705 for the year ended December 31, 2014. As of December 31, 2014, the Company reported a working capital deficit of $1,881,954.

Net LOSS for 2015? -$910,205 so much for the millions in revs LIES.
For 2015 the net LOSS is UP 300%.

As shown in the accompanying financial statements, the Company has a net loss of $910,205 for the six months ended June 30, 2015. As of June 30, 2015, the Company reported working capital deficit of $2,799,782, The Company’s ability to generate continued positive cash flows is dependent on the ability to grow its operating entity as well as the ability to raise additional capital. Management is following strategic plans to accomplish these objectives, but success is not guaranteed. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.


F- 6



http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11161151