iTalk Inc. (fka TALK)

[Tesla_se]

Then why does the SEC state he is 10% owner when the preferred shares had a forward split of 20:1

Your assumption is skewed stating he only has 50,000 shares out of the 200 million authorized. 10% owner is more like 20 million shares

Note=Trading temporarily suspended by the SEC pursuant to Section 12(k) of the Securities and Exchange Act of 1934 from 9:30 AM EST on 08/20/2014 through 11:59 PM EST on 09/03/2014.
Capital Change=shs decreased by 1 for 13 split Pay date=12/29/2006.
Capital Change=shs decreased by 1 for 20 split. Pay date=05/26/2016.
Market Value1 $116,529,890 a/o Jun 13, 2017
Authorized Shares 200,000,000 a/o May 31, 2017
Outstanding Shares 127,355,071 a/o May 31, 2017
-Restricted 120,667,626 a/o May 31, 2017
-Unrestricted 6,687,445 a/o May 31, 2017
Held at DTC Not Available
Float 3,806,910 a/o Oct 14, 2016
http://www.otcmarkets.com/stock/FTNW/profile

The RS was announced as part of the merger of 2013