Tuesday, March 30, 2021 1:43:42 PM
Hope she's not offended, but I can respond for VF. Strickland "transferred" his controlling SPRV shares to John Kellas, the President of Top Knot, Inc. The terms of the "transfer" were NEVER made public! Remember Kellas was the non-accountant Strickland hired to hurriedly slam together the 12 quarters' worth of delinquent financial reports. The reports were nothing more than a cut and paste job, with the entire lot posted to OTC Markets on one single day, August 18, 2020.
The plot thickens. Remember this?
Strickland's SPRV compensation agreement was NEVER disclosed until two years after it was consummated. Interestingly, the quarterly financial statements for the periods July 1, 2018 thru August 19, 2020 NEVER show any expense or accrual related to Strickland's bogus compensation!
Paul Strickland prepared SPRV's most recent financial report. It was the Annual Report, which was posted to OTC Markets on March 24, 2021. Interestly, the Operating Statement and Balance Sheet, which were claimed to be included as Exhibits, have NEVER been posted to OTC Markets! The old is forever new! Of course the bogus Attorney Letter, which was provided by the now infamous Allen Tucci, never made mention of the missing 2020 financial statements!
The Annual Report and OTC Markets both show Strickland as an "Advisor"! Allen Tucci is shown as the SPRV securities attorney. What's more interesting is the journey of the controlling 20,000,000 Preferred Series A shares. Per the Strickland prepared 2020 Annual Report, the controlling Preferred Shares were transferred ("assigned") from Top Knot, Inc. (John Kellas) to Endicott Holdings (Jrab Mahmound) on October 19, 2020. Keep this October 2020 date in mind. Per usual, the details of this important Preferred share transfer were NEVER publicly disclosed!
Here's the kicker! Apparently John Kellas and Top Knot bought up several heavily discounted SPRV debt obligations, including Strickland's previously undisclosed unpaid compensation. Kellas then turned around and sued SPRV to collect the outstanding debt obligations. The civil suit was filed in the Polk County Florida Circuit Court on December 9, 2020, which is a mere 51 days after the Preferred shares were transferred from Top Knot to Endicott. The 51 days is important, as Kellas claimed having no previous affiliate role with SPRV. Hell, Kellas was SPRV Director until August 19, 2020 and a control person until October 19, 2020. The following is a link to the Circuit Court docket.
https://pro.polkcountyclerk.net/PRO/PublicSearch/Details/d9ME0-0-CJRC8JM3MDNu1T9CP5k0C4FvPEltP8DunB12nw%3d
In less than two weeks, SPRV was agreeing to a Settelment with Top Knot. Here is a quote for the December 22, 2020 Motion for Fairness Determination, which was authored by attorney Mark Pena, who represented Plaintiff Top Knot, Inc.
It is quite clear the "settlement" between Top Knot and SPRV was choreographed long before the actual civil suit was filed. The Strickland debt was purportedly purchased by Top Knot on November 20, 2020, the Madison Stock Transfer debt on December 2, 2020, and, what's most interesting, the Violette debt acquisition had not yet been finalized, when the suit was filed on December 9. The Violette debt purchase wasn't completed until December 10, 2020. What's more, Plaintiff's attorney, Mark Pena, went outrageously braindead when authoring the Motion for Fairness Determination by totally screwing up his cut & paste job! Check it out!
THE ABOVE BS HAS NOTHING WHATEVER TO DO WITH TOP KNOT's COMPLAINT AGAINST SPRV!!! ATTORNEY MARK PENA NEEDS A PROOFREADER! WANNA KNOW MORE ABOUT MARK PENA! CHECKOUT THE TWO TOP KNOT LAWSUITS AGAINST BAYP.
Basically, SPRV agreed to pay the entire amount of the total debt due, including late charges and legal fees to Top Knot and John Kellas. The purported debt obligations were owed to Paul Strickland, Madison Stock Transfer, and Todd Violette. The amount due Strickland was listed as purportedly $792,464, with $69,300.36 shown due for Madison Stock Transfer.
Here are the specific terms of Kellas purchasing the Strickland compensation obligation:
(TALK ABOUT A SWEETHEART DEAL!) Kellas bought debt at a 90%, but will recover the entirety of the debt via nearly $800,000 in SPRV stock. Actually, it may be double the $800,000, as a consequence of the 50% stock conversion stipulation.
LOL! Why didn't a swindler like Paul Strickland file his own lawsuit to recover all of the purportedly earned compensation, rather than donating 90% of the total to his pal John Kellas?
Both the Strickland and Madison Stock Transfer obligations should have been shown as Accounts Payable Expense; however, SPRV's total Accounts Payable Expense, as of the September 30, 2020 Quarterly Financial Report, was supposedly $239,741. WHERE IN THE HELL IS THE REST OF THE CLAIMED DEBT SHOWN ON THE SPRV BALANCE SHEET????
The total debt listed as owing to Top Knot, the Plaintiff, was $1,214,89.65, meaning Violette was apparently owed $352.925.49. Where is this obligation on the Balance Sheet. The Settlement specified a payment of $1,511,360.05 in free trade SPRV shares, plus 2,000,000 additional free trading shares to cover Top Knot's litigation costs. THE SETTLEMENT IS COMPLETE UNADULTERATED BULLSHIT!
BTW, there are several Exhibits included with the Court Complaint. The Exhibits provide the details to support the debt obligations, but some have not yet been reviewed for privacy concerns, thus not yet made public. The Violette Exhibit is not yet public.
John D. Murphy, Jr. SPRV's CEO and lone Board Member, signed the Court Document, which purportedly addressed SPRV's rationale for quickly agreeing to the exhorbitant settlement payment. Most debt deals would be done at a discount, but not this one! Remember the above Top Knot dates? Here is an excerpt for Settlement Order that was signed by Judge William D. Stiles of the Polk County Civil Circuit Court.
Needless to say, I feel strongly about guys like Strickland and Kellas ripping off shareholders to live a rather handsome life-style! I truly hope the SEC and DOJ are all over this SPRV load of crap! Could a de-listing be on the horizon? Sure as hell hope so!
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