On4 Communications Inc (ONCI)

[QTRADERQ]

Thank you for sharing this Delaware document.

It would seem from this response from the Delaware Secretary of State, that STEVE has told another LIE. He stated in his "Letter to Shareholders" on 2/1 that one of the reasons ONCI could not obtain a "Certificate of Good Standing" was due to non payment of the "huge" delinquent tax.
https://www.otcmarkets.com/stock/ONCI/news/letter-to-shareholders?id=182149

Well, Delaware says the opposite of what Steve is saying. Hmm, who to believe?

Now, can we believe the excuse Steve Berman gave about the prior CEO, Tim Owens, not replying to their request "for an abundance of information".

Unfortunately there is an abundance of information that was needed that current management of On 4 communications does not have access to. We have reached out to Tim Owens previous CEO of the company but have not heard back.

Steve Berman deceptively used the pretext of owing back taxes to Delaware as the reason for not being able to complete the audit which he originally announced on 10/5 in this PR. He said "it would take 6 to 8 weeks to complete."
https://www.otcmarkets.com/stock/ONCI/news/On4-Communications-Selects-Mazars-USA-LLP-to-Audit-2017-and-All-Financials-Moving-Forward?id=171760

And then tweeted a snippet of the Mazars USA engagement letter on 11/24 to shareholders as further confirmation of the audit.

pic.twitter.com/FLZapESHsn

— On4 Communications (@on4company) November 24, 2017

And finally (at shareholder's request) tweeted P. 1 of the Mazars USA engagement letter on 12/20.

annual audit will be released when it is due 1/31/18. quarterly needed 2 more weeks because of CO move $ONCI. pic.twitter.com/LPZRingk4u

— On4 Communications (@on4company) December 20, 2017

My question to Steve Berman is you've been CEO on ONCI for almost two years... How could you have not known of the Delaware debt?. Besides being in charge, your CFO Alan Baily would have kept you informed of attempts by Delaware to collect the back tax of $329k.

Moreover, if there ever was really an audit scheduled with Mazars USA, the auditors would have told you in the first week that they would require that Delaware Certificate of Good Standing. Why did you NOT disclose to the shareholders the status of the audit after your "initial" negotiations with Delaware were unsuccessful? That would have been the reasonable, fiduciary thing to do. Instead, you intentionally misled investors by not disclosing it until 1/31, two hours after you released "unaudited" annual financial statements.
https://backend.otcmarkets.com/otcapi/company/financial-report/186735/content

As always. JMO

"Entity (ON4 Communications, Inc.) is inactive. Payment of tax does not restore the entity to good standing. Please contact General Information at [phone], Option 2 for further assistance."

Annual Report
File No: 3397838

Name: ON4 COMMUNICATIONS, INC.

Entity is inactive. Payment of tax does not restore the entity to good standing. Please contact General Information at [phone], Option 2 for further assistance.
Tax Year Action
2015 File Annual Report
2016 File Annual Report

Quarterly Tax Payments

Pay Description Amount Due Tax Year Due Date
Overdue Tax, Penalty and Interest $329,519.62 2016 Past Due Date
Pay Selected