Replies to post #118426 on SPO Networks Inc (SPOI)

[MooseMan555]

Yes indeed, that loud crash was again ME, falling out of my chair ...

[stervc]

WrigleyDog, with this SPOI Letter...

Things could begin to get very interesting here with SPOI if they get current with OTC Markets and begin to follow through with their goals of growth within the shareholder update below regarding their expectation of rapid expansion in the cannabis industry via their Asset Purchase Agreement with Voodoo Stylee Natural Farm, LLC where they acquired their cannabis cultivation facility and equipment, including a retail marijuana cultivation facility license through this Agreement:

https://backend.otcmarkets.com/otcapi/company/dns/news/document/45951/content
SPO NETWORKS, INC.
PO BOX 600 FARMINGTON, AR 72730

To the Shareholders of SPO Networks, Inc.:

Since our last update regarding the plan and operations of SPO Networks, Inc. (“SPO”) in SPOI 2020 Third Quarterly Report published on October 28, 2020, I am excited to announce the following news on behalf of the management team and the board of directors:

As stated in item 5 of the third quarterly report, SPO aims at medical and recreational cannabis operations with the expectation of rapid expansion in the cannabis industry. On December 15, 2020, SPO entered into an Asset Purchase Agreement with Voodoo Stylee Natural Farm, LLC (“Voodoo”). SPO acquired a cannabis cultivation facility and equipment, including a retail marijuana cultivation facility license through this Agreement (for the details of the assets, please see Schedule 2: Assets of the attached Asset Purchase Agreement). The purchase price of the assets is $310,000 with a payment schedule that payment of $100,000 paid to Voodoo at closing, and a promissory note (Exhibit A) in the principal amount of $210,000, bearing interest at the annual rate of 6.5% with a maturity date of 14 months. To secure the promissory note, SPO pledged the assets in Schedule 2 as collateral (Exhibit B).

The above-described assets are located at 7060 W. State Hwy 96, Pueblo, CO 81005. The property has been acquired by Prestige Property Rentals, LLC, a Colorado limited liability company owned by Tom Smith, CEO of SPO. On December 18, 2020, SPO enters into a Commercial Lease Agreement with Prestige Property Rentals, LLC for operating its cultivation facility in the above address. This lease has been approved by two disinterested directors – Dennis Millet and Gregory Smith. Please see the attached Commercial Lease Agreement between SPO Networks, Inc. and Prestige Property Rentals, LLC for the details of the lease.

Shortly before closing the assets purchase with Voodoo, SPO also entered into an agreement with the Law Offices of Clifton Black PC for transferring the retail marijuana cultivation facility license acquired from Voodoo. For details, please see attached Attorney/Client Fee Agreement Between Law Offices of Clifton Black PC and Tom Smith and SPO Networks Inc.

I look forward to updating you in the year ahead.

Your sincerely,

/s/ Tom Smith
Chief Executive Officer & Director

December 18, 2020

v/r
Sterling