iTalk Inc. (fka TALK)

[Huggy Bear]

Nothing illegal

Wrong answer. Those 1.5 billion shares were issued while TALK was non compliant, which is illegal. TALK is still non compliant, which is why the vulture capitalists who are owed 1.4 million dollars are not converting their discounted shares currently.

If they could convert, legally of course, they would. They do not want to try to convert while TALK is still non compliant with the heightened awareness to compliance now. They are smarter enough to know better. They do not want to lose their license over TALK.

However they will sue TALK. Some already are. More may have already followed suit for as much as we already know about the disclosure record of TALK.

It was perfectly fine for TALK to issue shares for existing convertibles regardless of if the Q had been reviewed by an auditor.

No, it is not. Well, as integral pointed out, it is the resale of this stock that was illegal technically. But of course the stock was issued to the VC's to dump on the market, and dump they did. For nice profits, of course.

The massive frontloading with the announcement of this new scam deal with UMS is highly suspicious as well.

I have a feeling the feds are going to have a field day with this fraud.

If anyone is following the frauds I expose and report in on one more just got rung up last week. Two more are in the works.