Replies to post #86094 on Voip Pal Com Inc (VPLM)

[nyt]

Thanks and your welcome.....but I didn't have to figure any of that out. The case has been publicly available to look at for around 5 yrs or so and it listed all the charges. In fact you can see them delineated on their stupid website (locksmithfinancial) that they haven't updated in years, but it does show (for the benefit of vplm'ers) what they were suing for. I thought vplm sued 1st and then countersuit from Locksmith but someone says locksmith sued 1st, which doesn't make sense to me. The whole thing became public knowledge when sawyer posted a PR back around 2014 or so stating an audit revealed the missing shares and that they were taken w/o authorization (yet sawyer was likely the one who signed off on it in the 1st place, altho I guess it could've been Chang? He said all the proper gov't authorities had been notified and he was freezing the shares (or maybe he just meant he would attempt to freeze the shares?). One source says that the shares were never taken or missing in the 1st place. I know for a fact that at least some shares were paid to Kipping for his loans to the company. Next thing I knew (as far as I remember) vplm filed suit and then later I thought RK countersued with the suit you can see on their website, but it was for fraud, et al, and nothing mentioned about shares (maybe the shares were mentioned in a deeper look at the locksmith suit, but thats not mentioned at all on the info on their site. And maybe I have the order of sue me/sue you backwards, I'll have to look that up again.
In any event, to call this verdict a win for vplm, well, lol, says alot!

[DeerBalls]

The VPLM shares in question, ~124.7mm, have been frozen(non-negotiable) since 2014! ms.kipping was not awarded the shares, nor $60mm, and the shares will be cancelled and returned to the treasury. The shares are back, with the court's blessing.
That is why missy et al section sounded like a stuck pig as the $355k verdict was read! Rumor has it, missy set out directly for a bottle of pruno! Lolol

Voip-Pal.Com Provides Status Update of its Lawsuit vs Richard Kipping and Terry Kwan to Cancel and Return Over One Hundred Twenty-Four Million Seven-Hundred Eighteen Thousand (124,718,000) Shares to its Treasury
February 08, 2016 05:00 AM Eastern Standard Time
BELLEVUE, Wash.--(BUSINESS WIRE)--Voip-Pal.com, Inc. ("Voip-Pal," "Company") (OTC Pink: VPLM) provided an update on the status of legal actions to cancel and return to treasury over 100 million shares of VPLM stock frozen since October 2014.

The Company filed a counterclaim and third party complaint in case Clark County (Nevada) District Court case A-15-717491-C. The Counter-defendants named were:

LOCKSMITH FINANCIAL CORPORATION, INC., a British Columbia entity; TALISMAN FINANCIAL, INC., a Belize entity; VHB INTERNATIONAL LTD, a Belize entity; CACTUS VENTURES, INC, a Belize entity.

The Third-Party Defendants named in the counter complaint were:

TK INVESTMENT, a British Columbia entity; RICHARD G. KIPPING, an individual, TERRY KWAN, an individual.

In its counter-claim, Voip-Pal alleges:

Kipping, Kwan, Locksmith, and TK Investments, through a series of deceptive debt conversions, stock issuances, and noncash accounting transactions, systematically conspired, schemed, and defrauded Voip-Pal and the shareholders of Voip-Pal out of additional millions of shares of Voip-Pal stock.

In addition to the three above named offshore Belize entities, the Counterdefendants and Third-Party Defendants involved a network of twelve additional offshore and related entities for a total of fifteen offshore entities utilized to hide their unlawful transactions and transfers. The twelve additional offshore entities named in the counterclaim are 3M Investments Company, Inc., Caledonian Securities LTD, Caledonian Bank LTD, Red Arrow Investments, Inc., Platinum Tribe, Inc., Cayman Institutional Bank, Brown Brothers Harriman & Co., Beaufort International Associations, Undiscovered Equities, Greenland Capital LTD, Paramount Trading Company and NSG Fund, Inc.

By running their stock transactions through Locksmith/TK Investments and then through the Offshore Entities, Kipping and Kwan were able to have their suspect liquidations facilitated by his unlawful broker-dealers, without the scrutiny that the transactions demanded. Generally, Kipping and Kwan transferred shares to one of the Offshore Entities within 24 hours of the debt-conversion transaction.

Among the alleged fraudulent transactions is a $360,000 debt to stock conversion in which Kipping and Kwan caused that Voip-Pal, without Voip-Pal’s knowledge or approval, issue 36,000,000 shares of Voip-Pal common stock to Locksmith in exchange for settlement of the $360,000 sham loan. At the time of the of the $360,000 debt to stock conversion, the 36,000,000 shares of Voip-Pal common stock had an actual market value of approximately $4,860,000.

Among other relief for damages Voip-Pal is also asking the court to cancel and return to treasury 124,718,000 shares transferred by Locksmith, Kipping, TK Investments, and Kwan to off-shore entities, including the Talisman, Cactus Ventures, and VHB International.

The complete filing will be posted on the Company’s website www.voip-pal.com.

About Voip-Pal.com Inc.

Voip-Pal.Com, Inc. (“Voip-Pal”) is a publicly traded corporation (OTC Pink: VPLM) headquartered in Bellevue, Washington. The Company owns a portfolio of patents relating to Voice-over-Internet Protocol (“VoIP”) technology that it is currently looking to monetize.

Contacts
Voip-Pal.com, Inc.
Rich Inza, 954-495-4600

https://www.businesswire.com/news/home/20160208005351/en/Voip-Pal.Com-Status-Update-Lawsuit-Richard-Kipping-Terry

BOTTOM LINE, $355k is far less than $60mm and far less than the 124.7mm VPLM shares are worth! missy goes down in flames and pruno!