THIS IS A CLASSIC A HOSTILE TAKEOVER!
A hostile takeover is the acquisition of one company (called the target company) by another (called the acquirer) that is accomplished by going directly to the company's shareholders or fighting to replace management to get the acquisition approved.
THIS IS WHERE TROUBLE STARTED.
On or about August 30, 2018 Flit Technology Inc. (Flit / Company) previous management Tobi Mac Aro solicited an accredited investor M*i*na M*a*r Corporation a Florida Company for an emergency cash infusion and a corporate bailout. The Company was classified as an issuer in immediate peril.
PAY ATTENTION TO THE BATTLES FOR CONTROL OF SHARES LISTED IN 8-K
POOR ROOKIE LITTLE GUY. HE GOT SWALLOW BY THE SHARK. THE CEO TOBI MAC ARO SOLD THE CONTROL OF THE COMPANY.
On September 4, the CEO TOBI MAC ARO Entered into a binding letter of intent LOI To sell the control block and the majority stake of FLIT.
"The agreement called for the accredited investor to purchase the preferred shares (Control Block) from Mr. Mac Aro,
HERE IS THE TRICKY PART...WHY THEY PAY $500K FOR THE REMAINING 360,175,113 MILLION SHARES? THAT IS EQUAL TO .1388 CENT PER SHARE?
"The new interim management has successfully made a loan increase and available operating funds from $140,000 emergency bail out program initially sought out by Mr. Mac Aro through EMRY CAPITAL to $500,000 through the same financier
Authorized Shares 1,200,000,000 > 09/12/2018
Outstanding Shares 440,677,084 > 09/12/2018
Float 399,147,803 >09/12/2018
CLEARLY, WE HAVE THE ASSET THAT IS THE SOFTWARE AND ALL ASSETS TANGIBLE.
"FLIT interim management intends to legally recover 100% its software and all assets tangible and intangible including all control in ex-management Mr. Mac Aro; which has not yet been surrendered.
THE BK IS THE SCARE TACTIC TO CORNER MAC ARO SURRENDERED.
If the need to do the BK then no point to wait until December.
FTWS they said in the 8k time frame of Dec 2018 before filing
CLEARLY, THIS IS A CLASSIC A HOSTILE TAKEOVER. THEY BOUGHT THE PREFERRED SHARES (CONTROL BLOCK) FROM MR: MAC ARO. THERE IS A LOT MORE TO THE STORY THAT STILL UNFOLDS. NO MATTER WHAT... THE ENTIRE FLOAT IS LOW. LET'S CONSIDER IN THE WORST CASE. THIS IS A SHELL, THEN THE SHELL SILL WORTH MORE THAN WHAT WE CURRENTLY TRADE AT .0006.
KEEP IN MIND THEY CAN TURN AROUND MAKE OFFER THE BUYOUT TAKE FULL CONTROL OF THE COMPANY WITHOUT HAVE TO FILE THE BK. IMHO.
