Metrospaces Inc (MSPC)

[stervc]

MSPC/Etelix**Illegal Kickback Never Executed...

Respectfully, I disagree with the flavor of the delivery of your logic, but it's ok to agree to disagree in delivery. The arrangement never happened so technically, it's a nonissue as the company has addressed such already in my opinion with today's news. Nothing fraudulent ever happened regarding the 3(a)10 Exemption. I am very confident that the company will further clarify all issues that are being tossed around as negatives towards them yet further in the coming days.

The basis of your rationale culminates to derive such conclusion because with Etelix not getting and will not get any shares issued from that 3(a)10 Exemption because of no shares ever being issued, then you were wondering how did MSPC pay for the Etelix acquisition.

MSPC is not required to disclose certain details how they paid for the acquisition of Etelix, especially since now changing their reporting requirement.

Basically, there is no way that an illegal kickback could occur because there were not any shares issued or will be from the 3(a)10 Exemption to have allowed for any kickback to have occurred at all. MSPC made this very clear.

You stated...

But since at this point there is a court document signed by MSPC and CF3 Enterprises approving the transaction it will be interesting to see if they can stop it.

Your post insinuates that MSPC had done something illegal. They did not. Such transaction was never executed as they learned that the deal would have been fraudulent as stated from the company. This is why they won't get much of a fight in my opinion from those on the other side of the deal.

MSPC answered that thought at least twice that I know of when they stated in their earlier PR and the recent PR below that no shares were issued and would not be issued regarding the 3(a)10 Exemption:

Metrospaces Announces That it Will Not Honor Notice of Conversion for 3(a)10 Due to Potential Fraud Against the Company
https://ih.advfn.com/p.php?pid=nmona&article=76909013&symbol=MSPC

...Mr. Brito, Metrospaces President and CFO stated: “Last night, after market close, our stock transfer agent notified us of the reception of a notice of conversion sent in for the issuance of common shares in respect to the 3(a)10 with CF3. The transfer agent confirmed that no shares were available for this issue, and that therefore they would not honor this notice of conversion for common shares. They additionally confirmed that no shares would be issued for this 3(a)10, now or in the future. In the last week of January of this year, we were made aware by specialized advisors and counsel of the potentially fraudulent structure of this particular 3(a)10 settlement agreement, brought unwillingly to us. We have since made the decision not to abide this settlement agreement since it is our highest conviction that the structure and much of the content is potentially fraudulent. We are looking forward to vigorously defeating this settlement agreement in the courts, since it is our deepest conviction that we would get a judgment in our favor. We firmly believe that this was a structure used to potentially defraud the company and its shareholders. It is our fiduciary duty to defend the company and its shareholders against malicious players in the market, and we will honor our duties to the company and our shareholder with the utmost integrity. The matter is currently being handled by our recently hired specialized top legal team out of NYC. No shares have been issued, and no shares will be issued for this 3(a)10 scheme. Any potential settlement will be cash only.”

v/r
Sterling