Innerscope Hearing Technologies Inc (INND)

[Spartan]

The bottom section of the post is a direct quote from the complaint filed by Floyd Kuriloff against InnerScope. Lot's more: Main Document
Here is my summation as I understand the paragraph from the filing document:

Kuriloff was to get $5 million worth of shares at .0089 cents per share
Matty the slug priced the shares at .17 cents per share
Instead of getting 561,797,752 shares, Kuriloff got 29,411,764 shares.
Then Matty issued a press release that millions of shares had been issued at .17 cents resulting in INND market cap of over $1,000,000,000
No wonder Kuriloff is pissed...

"20. With respect to the remaining $5 million worth of INND Common Stock due to be issued under the SPA, the INND Defendants issued the additional $5 million worth of INND Common Stock due under the agreement at $0.17 per share (the “Overvalued Shares”). A price that was nearly fifteen times in excess of the price of INND’s Common Stock at the date of closing and nearly 20 times in excess of the contractual price of $0.0089 per share. So that the INND Defendants could report to the public markets that it had issued Common Stock at a price of $0.17 per share, placing a market capitalization of over $1 billion on INND, while in reality the true market value of INND was a small fraction of that."