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Re: 12ka post# 2574

Thursday, 02/28/2019 7:41:03 AM

Thursday, February 28, 2019 7:41:03 AM

Post# of 2952
$SFAD x-BOD Michael Kelly's resignation letter from last year.

January 26, 2018

Spindle Board of Directors

1201 S. Alma School Rd., Suite 12500

Mesa, AZ 85210


Re: Resignation as Board Member


Dear Board,


Please accept this as my immediate resignation from Spindle's Board of Directors (the "Board"). My resignation from the Board is due to the following activities of Spindle's management:

·Misrepresenting to the board of material facts regarding acquisition targets;

·Committing Spindle to transactions in which Spindle's performance is wholly impractical due to fiscal challenges;

·Providing the Board with misleading forecasts and memorandum;

·Entering into agreements, financing agreements, accepting undocumented loans, without consent of the board;

·Signing resolutions of the Board without Board consent; and

·Generally precluding my fulfillment of my fiduciary duties as a member of the Board.


I hope you work to correct these problems as soon as possible to provide value to Spindle's shareholders.



Sincerely,


/s/ Michael Kelly

Michael Kelly

https://ir.spindle.com/sec-filings-email/content/0001393905-18-000031/spdl_ex102.htm

All posts are speculative and my opinion only. NOT investment advice.

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