BUYER BEWARE - DILUTION SCAM Voip-Pal.Com Inc. (VPLM)
Authorized Shares 1,300,000,000 a/o Jan 12, 2017
Outstanding Shares 1,109,177,534 a/o May 11, 2017 LMAO current # please ?
Quote:
The U.S. Securities and Exchange Commission has filed civil charges against Salt Lake City clearing firm Alpine Securities Corp., claiming that it facilitated stock manipulation and other schemes run through a related firm, Scottsdale Capital Advisors Corp. Among other things, Alpine failed to report scores of suspicious transactions, the SEC claims. The SEC has not named the specific stocks involved, but Scottsdale previously received a $1.5-million fine in connection with three companies, with the list including a Vancouver company called Voip Pal.com Inc. (All figures are in U.S. dollars.)
LINKED IN
John Hurry
The allegations are contained in a complaint that the SEC filed on Monday, June 5, in the Southern District of New York. The sole defendant is Alpine, a Utah clearing firm that has been registered since 1984. According to the SEC, the firm was acquired in 2011 by John Joseph Hurry, who also owns Scottsdale. Following that transaction, most of Alpine's business came from Scottsdale, the SEC "
EVERY 3 MONTHS - over 500 GRAND SPENT ? WITH FREE LAWYERS TO BOOT. SCAM COMP.
NET LOSS
The Company reported a net loss of $532,599 for the three months ended December 31, 2016 compared to a net loss of $712,177 for the same period in 2015. The net loss decrease of $179,578, or 25% over the same period in 2015 was due primarily to the write-down of acquisition costs of $500,000 in 2015 .
LIQUIDITY AND CAPITAL RESOURCES
As of December 31, 2016, the Company had an accumulated deficit of $32,168,742 as compared to an accumulated deficit of $28,874,214 at December 31, 2015
BURNING THROUGH MULTI-MILLIONS OF DOLLARS ON STOCKHOLDERS DIME EVERY YEAR ? SHAM PATENT TROLL SCAM
Convertible Debt or in Settlement of Debt
In 2013, the Company issued 35,446,982 shares of common stock at the price of $0.00613 per share to various individuals or entities in debt conversions.
In 2013, the Company issued 10,000,000 shares of common stock at the price of $0.00314 per share to Dennis Chang in settlement of debt owed by the Company.
In 2013, the Company issued 3,750,000 shares of common stock at the price of $0.08 per share to a creditor in settlement of debt owed by the Company.
In 2013, the Company issued 46,682,000 shares of common stock at the price of $0.01276 per share to a creditor in settlement of debt owed by the Company.
In 2013, the Company issued 70,000,000 shares of common stock at the price of $0.02770 per share to a creditor in settlement of debt owed by the Company.
In 2013, the Company issued 29,318,000 shares of common stock at the price of $0.002 per share to a creditor in settlement of debt owed by the Company.
In 2014, the Company issued 1,191,667 shares of common stock at the price of $0.12 per share to various individuals or entities in debt conversions.
In 2014, the Company issued 1,550,000 shares of common stock at the price of $0.10 per share to various individuals or entities in debt conversions.
In 2014, the Company issued 950,000 shares of common stock at the price of $0.08 per share to various individuals or entities in debt conversions.
In 2014, the Company issued 63,596 shares of common stock at the price of $0.06 per share in a debt conversions.
In 2014, the Company issued 500,000 shares of common stock at the price of $0.05 per share in a debt conversions.
In 2015, the Company issued 31,258,302 shares of common stock at the price of $0.05 per share to various individuals or entities in debt conversions.
In 2015, the Company issued 1,200,000 shares of common stock at the price of $0.04 per share to two individuals in debt conversions.
During the period ending March 31, 2016, the Company issued 4,457,500 shares of common stock at the price of $0.05 per share to several individuals in debt conversions.
NOTE 8. CONVERTIBLE DEBENTURES
The Company routinely issues convertible debentures with no interest rates that are due on demand.
NOTE 10. STOCK-BASED COMPENSATION
Stock Option Plan
In order to provide incentive to directors, officers, management, employees, consultants and others who provide services to the Company or any subsidiary (the “Service Providers”) to act in the best interests of the Company, and to retain such Service Providers, it was determined by the board of directors that the Company requires a stock option plan under which it is able to grant incentive stock options to such Service Providers.
S C A M
D I L U T I O N
Date Amount of Price Per Shares Issued To Services Provided
April 13, 2015 50,000 $0.050 Irene Siqueira debt conversion
April 13, 2015 50,000 $0.050 Anna Thymis debt conversion
April 13, 2015 50,000 $0.050 Nicholas Grundle debt conversion
May 20, 2015 900,000 $0.040 Greg Elko & Melisa Elko debt conversion
May 20, 2015 300,000 $0.040 Tawna Skousen debt conversion
May 25, 2015 175,000 $0.050 Ryan Thomas legal services/debt conversion
June 4, 2015 600,000 $0.050 D. Barry Lee debt conversion
June 8, 2015 400,000 $0.050 D. Barry Lee debt conversion
June 8, 2015 600,000 $0.050 David H. & Inez M. Kosen debt conversion
June 8, 2015 300,000 $0.050 1187437 Alberta Ltd. debt conversion
June 8, 2015 500,000 $0.050 Magna Management Ltd. debt conversion
June 16, 2015 100,000 $0.050 Anastasios Koutsoumbos debt conversion
June 16, 2015 100,000 $0.050 Steven R. Engh debt conversion
June 16, 2015 100,000 $0.050 Michael Thompson debt conversion
July 2, 2015 500,000 $0.050 Magna Management Ltd. debt conversion
July 16, 2015 500,000 $0.050 Magna Management Ltd. debt conversion
July 27, 2015 500,000 $0.050 Magna Management Ltd. debt conversion
August 25, 2015 100,000 $0.050 Angelo Soursos debt conversion
August 25, 2015 400,000 $0.050 Brian Blattman debt conversion
August 25, 2015 525,000 $0.050 1187437 Alberta Ltd. debt conversion
August 25, 2015 400,000 $0.050 Almunir Kamdar & Naseem Kamdar debt conversion
August 25, 2015 500,000 $0.050 Estrellita Gonzalez debt conversion
August 25, 2015 150,000 $0.050 Irene Siqueira debt conversion
August 25, 2015 150,000 $0.050 Anna Thymis debt conversion
August 25, 2015 150,000 $0.050 Nicholas Grundle debt conversion
August 26, 2015 3,000,000 $0.050 Decajoni Overseas, Inc. debt conversion
August 26, 2015 1,000,000 $0.050 Gurcharn Deol debt conversion
August 26, 2015 400,000 $0.050 Greg Elko & Melisa Elko debt conversion
August 26, 2015 2,000,000 $0.050 Zeizaf Elias Chahwan debt conversion
August 26, 2015 200,000 $0.050 Suzan El-Khatib debt conversion
August 26, 2015 300,000 $0.050 Michael Ord debt conversion
August 26, 2015 1,000,000 $0.050 Kenneth Cretney debt conversion
August 26, 2015 500,000 $0.050 Johanna Holonko debt conversion
August 26, 2015 100,000 $0.050 Jeffrey B. Flinders debt conversion
August 26, 2015 500,000 $0.050 Joann McClusky debt conversion
August 26, 2015 500,000 $0.050 David E. Salk & Jacob H. Salk debt conversion
August 31, 2015 76,923 $0.050 Ryan Thomas legal services/debt conversion
August 31, 2015 100,000 $0.050 Ryan Thomas legal services/debt conversion
September 2, 2015 1,077,734 $0.050 Christian Lennart Ericson debt conversion
September 2, 2015 200,000 $0.050 1187437 Alberta Ltd. debt conversion
September 3, 2015 1,000,000 $0.050 David E. Salk & Jacob H. Salk professional services
September 3, 2015 500,000 $0.050 Cory Fabiano professional services
September 3, 2015 200,000 $0.050 Carlo Nigro professional services
September 3, 2015 1,000,000 $0.050 Richard Inza professional services
September 3, 2015 420,700 $0.050 John Young professional services
September 3, 2015 1,500,000 $0.050 Mike Waggett professional services
September 3, 2015 1,500,000 $0.050 Karim Sayani professional services
September 3, 2015 252,700 $0.050 Mohamed Korch professional services
September 4, 2015 45,000 $0.050 George Skrivanos debt conversion
September 4, 2015 199,600 $0.050 Roger Thomas Newton debt conversion
September 8, 2015 500,000 $0.050 D. Barry Lee debt conversion
September 8, 2015 150,000 $0.050 Petra Stroman debt conversion
September 8, 2015 200,000 $0.050 Nanita Holdings Ltd. debt conversion
September 11, 2015 25,000 $0.050 Greg Bangarth debt conversion
September 11, 2015 150,000 $0.050 Kjell Stroman debt conversion
September 14, 2015 1,200,000 $0.050 Greg Elko & Melisa Elko debt conversion
September 14, 2015 400,000 $0.050 Greg Elko & Melisa Elko debt conversion
September 14, 2015 500,000 $0.050 Ljubo Mikulic debt conversion
September 14, 2015 200,000 $0.050 James W. Scarr debt conversion
October 2, 2015 100,000 $0.050 Ryan Thomas legal services/debt conversion
October 2, 2015 100,000 $0.050 Anastasios Skrivanos debt conversion
October 2, 2015 100,000 $0.050 Dimitris Skrivanos debt conversion
October 2, 2015 100,000 $0.050 George Skrivanos debt conversion
October 2, 2015 100,000 $0.050 Peter Skrivanos debt conversion
October 2, 2015 100,000 $0.050 Irene Cholevas debt conversion
October 2, 2015 100,000 $0.050 Nikolaos Psycharis debt conversion
October 2, 2015 200,000 $0.050 Christian Lennart Ericson debt conversion
October 2, 2015 100,000 $0.050 Roberto Siqueira debt conversion
October 2, 2015 180,000 $0.050 George Douvelos debt conversion
October 2, 2015 10,000,000 $0.020 Digifonica Intellectual Properties acquisition of Digifonica
October 5, 2015 100,000 $0.050 George Thymis debt conversion
October 6, 2015 500,000 $0.050 Almunir Kamdar & Naseem Kamdar debt conversion
October 9, 2015 1,000,000 $0.050 Equity One Capital Corp professional services
November 24, 2015 100,000 $0.060 Ernst Radies debt conversion
February 12, 2016 300,000 $0.050 David H. & Inez M. Kosen debt conversion
March 7, 2016 810,000 $0.050 David Guichon debt conversion
March 7, 2016 810,000 $0.050 Krista Guichon debt conversion
March 7, 2016 930,000 $0.050 Darcy Haley debt conversion
March 7, 2016 300,000 $0.050 Michael Berscheid debt conversion
March 7, 2016 150,000 $0.050 Dee Martin debt conversion
March 7, 2016 100,000 $0.050 Nikki Apostolis debt conversion
March 7, 2016 100,000 $0.050 George Vastardis debt conversion
March 7, 2016 200,000 $0.050 Angelo Soursos debt conversion
March 7, 2016 100,000 $0.050 Bob Karytianos debt conversion
March 7, 2016 500,000 $0.050 Steven Baarts debt conversion
March 7, 2016 1,500,000 $0.050 Mike Waggett professional services
March 7, 2016 1,500,000 $0.050 Karim Sayani professional services
March 7, 2016 157,500 $0.050 Peter G.A. Guichon debt conversion
..March 31, 2017, the Company issued 12,766,666 common shares at between $0.02 and $0.03 per common share for cash proceeds of $364,000 from a private placement of common shares, and 22,400,000 units at $0.02 per unit for cash proceeds of $448,000 in a private placement of units. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant allows the holder to purchase one common share for $0.04 for six months from the date of issuance. In connection with the private placements, the Company issued 3,710,000 common shares priced at $0.02 per common share as finder’s fees valued at $74,200.
During the six-month period ended March 31, 2017, the Company issued 1,400,000 common shares priced between $0.025 and $0.03 per common share to convert $32,500 of convertible debentures.
During the six-month period ended March 31, 2017, the Company issued 2,826,667 common shares priced between $0.025 and $0.05 per common share for services valued at $100,500.
During the six-month period ended March 31, 2017, 900,000 common shares priced at $0.05 per common share were cancelled and returned to the Company treasury. The shares had been issued as an advance payment for the provision of services under a contract which was terminated prior to fulfillment.
2016 Issues
During the year ended September 30, 2016, the Company issued 10,458,333 common shares at $0.04 per common share for cash proceeds of $381,000 from private placements. The Company issued 1,126,667 common shares priced between $0.03 and $0.04 per common share as finder’s fees valued at $39,800.
During the year ended September 30, 2016, the Company issued 8,873,333 common shares priced between $0.03 and $0.05 per common share to convert $326,000 of convertible debentures.
During the year ended September 30, 2016, the Company issued 16,357,500 common shares priced between $0.03 and $0.05 per common share for services received valued at $1,121,195.
During the year ended September 30, 2016, the Company issued 10,000,000 common shares at $0.05 per common share to a director of the Company, which issuance is included in Officers and Directors fees (Note 6).
Shares to be Issued
As at March 31, 2017, there are 23,353,846 (September 30, 2016 – 23,353,846) common shares to be issued that are accrued for services provided to the Company valued at $1,058,320 (September 30, 2016 – $1,058,320), of which 21,281,903 (September 30, 2016 – 21,281,903) common shares are accrued to management and related parties. As at March 31, 2017, $4,721 (September 30, 2016 – $4,721) was included in common shares to be issued for cash received in advance of common shares being issued.
As at March 31, 2017 there are 40,447,452 (September 30, 2016 - 23,566,119) common shares to be issued that are accrued to the seller of Digifonica pursuant to the Anti-Dilution Clause (see Notes 4 and 6), valued at $1,332,325 (September 30, 2016 - $942,645).
Warrants
During the six-month period ended March 31, 2017, the Company issued 22,400,000 common share purchase warrants to purchase 22,400,000 common shares in the capital stock of the Company at a price of $0.04 per common share for a period of six months from date of issue in a private placement of units. As at March 31, 2017, the Company has 22,400,000 (2016 – Nil) warrants outstanding to purchase 22,400,000 common shares at a price of $0.04 per common share expiring in August and September, 2017.
Subsequent Issue
Subsequent to the period ended March 31, 2017, the Company issued 10,100,000 common shares priced between $0.02 and $0.025 per common share for cash proceeds of $222,000 from private placements.
12
VOIP-PAL.COM INC.
Notes to the Interim Consolidated Financial Statements
(Unaudited – prepared by management)
(Expressed in United States Dollars)
March 31, 2017
NOTE 10. STOCK-BASED COMPENSATION
Stock Option Plan
In order to provide incentive to directors, officers, management, employees, consultants and others who provide services to the Company or any subsidiary (the “Service Providers”) to act in the best interests of the Company, and to retain such Service Providers, it was determined by the board of directors that the Company requires a stock option plan under which it is able to grant incentive stock options to such Service Providers. The Company put in place an incentive Stock Option Plan (the “Plan”) whereby the Company is authorized to issue up to 10% of its issued and outstanding share capital in options to purchase common shares of the Company. The maximum term of options granted under the Plan cannot exceed ten years, with vesting terms determined at the discretion of the Board of Directors.
During the period ended March 31, 2017, the Company granted options under the Plan to several of its consultants to purchase 3,450,000 common shares in the capital stock of the Company at an exercise price of $0.06 per common share for a period of five years from the date of grant. 2,700,000 of the options granted vest immediately and are exercisable as at March 31, 2017, with the balance to vest within one year of the date of grant.
LOOKS LIKE ABOUT TIME FOR A R/S AND THE COURTS TO BOOT THIS 200BILLION DOLLAR SCAM JUDGE JUDY LAWSUIT AND SUSPEND THIS DILUTION BROKER TELEMARKETING SCAM
-------------------------------------------------------------------------
ALL POSTS ON IHUB OPINION ONLY. SCAM CEO WANT TO CHARGE ME FOR MY OPINIONS> WORTHLESS LOSER COMPANY PATENT TOLL SNOB CSERS. BETTER PRINT UP SOME MORE SHARES FOR YOUR TOILET CREW CEO!
AI
