Unwanted Stocks

[john12341]

pnch facts here are that ic places purchased punch tv for 135,000,000 shares of restricted common stock of ic places.

Quote:
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On July 10, 2012 IC Places, Inc. (“the Company” or “Buyer”) entered into an Asset Purchase Agreement with Punch Television Network (“Punch”, “Seller”). Through the agreement, the Buyer has acquire substantially all of the assets, tangible and intangible, owned by Seller that are used in, or necessary for the conduct of, its Television Network business, including, without limitation: (i) the Station Licenses, subject to any obligations contained in disclosed license agreements and all related intellectual property; (ii) the fixed assets of Seller; (iii) any and all customer lists; and (iv) the goodwill associated therewith, all free and clear of any security interests, mortgages or other encumbrances. The aggregate consideration for the assets and business was 135,000,000 shares of restricted common shares of ICPA Stock.
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on july 10,2012 the company entered in to a employment contract with joe Collins this is a separate contract then the purchase agreement.


Quote:
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On July 10, 2012 the Company entered into an executive employment agreement with Joseph Collins in the capacity as President and Co-Chairman of the Board of Directors. The agreement provides for compensation of $200,000 per year upon completion of capital raise of $3,000,000 and the immediate issuance of 150,000,000 common shares. Additional shares are to be issued on a progressive level upon the successful raise of capital and additional incentive issuances upon meeting certain business benchmarks.
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now while Collins was employed by ic punch media he decided that he wanted more then what was in the contract and made false accusations about ceo steve samblise. in order to try and do a hostile take over of the company

http://www.free-press-release.com/news-former-ic-punch-media-inc-ceo-is-accused-of-breaking-the-sec-s-code-of-ethics-1366914527.html

when this did not work Collins decided he was going to rescinded the purchase agreement and took the assets of punch tv back.

Quote:
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On May 14, 2013, the Company filed Form 8-K with the Securities and Exchange Commission and disclosed that the Company rescinded the Punch Television Network Agreement and all associated employment agreements by mutual agreement of both parties. Joseph Collins resigned as President and director as result of the rescission of the Punch Television Network Agreement and as a result, the Company is no longer accruing wages under the terms of Mr. Collin’s Agreement
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we the company still have not received our shares the we paid for punch tv with.

Quote:
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Effective May 14, 2013, the Company rescinded the Punch Television Network Agreement and all associated employment agreements and the entire transaction has been cancelled by mutual agreement of both parties. Joseph Collins resigned as President and Director as result of the rescission of the Punch Television Network Agreement. All 285 million shares the Company issued as a result of the previous contracts are expected to be returned to the Company. The Company has received 153,000,000 shares, leaving 132,000,000 shares receivable as of September 30, 2013.
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now since we have not received the final 132,000,000 shares we purchased the assets of punch tv with we are going after the assets that we purchased from punch tv. these are the facts not opinions.

all information that is quoted can be validated in the sec filing 10k For the quarterly period ended September 30, 2013 .. all except for the one I posted the link for in the post. here is the link for the sec filing on the rest of the information if you need to validate it.
http://www.sec.gov/Archives/edgar/data/1437596/000155724013000402/pnch_q3-sept2013.htm