Replies to post #68839 on iTalk Inc. (fka TALK)

[1manband]

That is not possible. If UMS LLC sold TALK stores, then TALK would owe UMS LLC money. Not the other way around. We also know UMS LLC has 33 stores, all of which go to the new buyer, so they didn't sell TALK anything. And TALK doesn't have the money to buy anything, anyway.

The money owed to TALK is likely due to the assumption of certain UMS debts post-merger. Just another thing for the TALK shareholders to be angry about, as not only did they lose the $20 million in value for the acquisition of UMS, but they are stuck with another $200K+ in UMS debt which stays with TALK and TALK shareholders even after they lose 100% of the UMS LLC assets.

And the lawsuit has ZERO to do with TALK's delinquent SEC filings. There is absolutely no legitimate reason that TALK is delinquent.