iTalk Inc. (fka TALK)

[beer$$money]

So a Press Release is issued on 3-3-16 for:
Southridge Enters Into A Debt Purchase Agreement With iTalk, Inc

It's announced in the TALK FORM 10-Q /A filed 7-13-16

And it's alleged that a Suit was filed against TALK for this agreement on 6-6-16 and not disclosed?

How could any kind of Breach happen in such a short period of time?

Perhaps someone could provide a link to this suit filed as I have not been able to find one? Maybe that is why it has not been disclosed?


Southridge Enters Into A Debt Purchase Agreement With iTalk, Inc.
March 3, 2016
RIDGEFIELD CT, - Stephen Hicks, Chairman and CEO of Southridge, has announced that Tarpon Bay Partners LLC ("Tarpon"), an institutional investor, has entered into a debt purchase agreement with iTALK, Inc. (OTCBB:TALK), a global provider of advanced communications & mobile broadband services.



On April 5, 2016, an agreement was reached whereby a third party purchased the note for $400,000 and is to pay the original note holder over a 10 month period. The Company will issue shares to the third party at market price on date of issuance of which 65% will be paid to the original note holder. Upon satisfaction of the $400,000 note the original note holder will vacate the lawsuit. The Company has accrued an additional $219,762 for a total of $615,386 for the liability.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11488047