Replies to post #268894 on FrankSpeech Network Inc (INCTD)

[Dspetry]

Under the Acquisition Agreement dated September 3, 2015, the Company issued a total of 42,605,680 restricted shares of common stock. Under this
Agreement, the Company is obligated to issue additional shares to the 4 companies controlled by John Acunto so that they collectively own 70% of the issued and outstanding common stock of the Company. The Company will make the determination in the near future as to when to issue these additional shares of common stock. Under the Agreement, the Company also issued a total of 4,725 shares of Series A preferred stock. Each share of convertible preferred stock is convertible,
at the option of the holder, at any time into the number of fully paid and nonassessable shares of Company common stock as determined by dividing 1,000 by the
amount that is a 10% discount to the average of the closing price per share of the Company’s common stock on the exchange on which this common stock is traded
over  the  10  trading  day  period  ending  immediately  prior  to  the  conversion  date.  These  issuances  result  in  substantial  dilution  to  existing  stockholders  of  the
Company.
Any further acquisition effected by the Company may also result in the issuance of additional securities without stockholder approval and may result in
substantial dilution in the percentage of the Company’s common stock held by its then existing stockholders. Moreover, the common stock issued in any such
merger  or  acquisition  transaction  may  be  valued  on  an  arbitrary  or  non-arm’s-length  basis  by  our  management,  resulting  in  an  additional  reduction  in  the
percentage of common stock held by the Company’s then  existing stockholders. The Company’s Board of Directors has the power to issue any or all of such
authorized but unissued shares without stockholder approval. To the extent that additional shares of common stock or preferred stock are issued in connection with
a business combination or otherwise, dilution to the interests of its stockholders will occur and the rights of the holders of common stock might be materially and
adversely affected.

[JohnPlay]

I am certainly a major shareholder and I haven't said ANYTHING about the company. I simply responded to a person who seems to make huge claims.. Listen Like the company, hate the company, it doesn't matter anyone's position on these boards, saying someone is a criminal when they are not nor ever have been is all I am addressing. I want no part of telling anyone to buy, sell or hold.. DO as the diligence tells you.