ITEM 8.01. Other Events.
New interim management learned that on or about June 1 ,2018 the company downsized its
office space and changed locations from Culver City, California, 8,000 sq. foot office to Los Angeles, California, 800 sq. foot
executive type shared office space. The new address of Flit on an interim emergency basis is 224 Datura Street, #1015 ,West Palm
Beach, Florida 33414.
On or about August 30, 2018 Flit Technology Inc. (Flit / Company) previous management
Tobi Mac Aro solicited an accredited investor Mina Mar Corporation a Florida Company for an emergency cash infusion and a corporate
bailout. The Company was classified as an issuer in immediate peril.
The peril FLIT was misfortunate to be encumbered upon, stems from poor management operational
skills, bad prior business decisions, corporate waste and a negative cash flows of about $400,000 per year coupled with long term
“toxic type” financing and debt of about 1.5 million dollars.
On September 8, 2018, during the purchasers due diligence stage the interim
management discovered major inconsistences visa vie the actual true debt the company was exposed to; compared to that
which was reported by ex-management Tobi Mac Aro. Despite the new interim managements best efforts Mr.Tobi Mac Aro was
unwilling or unable to explain the massive discreteness in both cash flows and accrued debt, other than to attribute FLIT
misfortunes to his inability to perform normal functions as a prudent officer of the company due to inexperience.
On or about September 14, 2018 the new interim management also discovered the existence
of a newly incorporated company named FLIT Holdings a Nevada company. This entity appears to be exclusively owned and controlled
by Tobi Mac Aro and his spouse as a partnership.
From approximately September 14, 2018 until September 19, 2018 the new interim management
was actively taking control of various aspects of the operations, such as hiring and training new support staff to handle customer
service queries. This task was previously performed by an outsourced Philippines company. Additionally, the new interim management
sought assistance from its own web masters and engineers to secure the enterprise software which runs the ride share business.
On or about September 19, 2018 the interim management and the new preferred shareholder
questioned ex management and Mr Mac Aro about various operational discreteness within FLIT such as the existence of the named
FLIT Holdings Nevada company, the fact than no actual monies are being received by FLIT into its bank accounts, and certain
inappropriate codes the new IT staff retained by the new interim management discovered.
On or about September 19, 2018 the ex-management Tobi Mac Aro without notice or any
warning Mr. Mac Aro changed all passwords using secondary or back up (back door) passwords and codes the interim management was
unaware of. Moreover, the interim management learned the access codes it received were administrative or managerial however the
“Super User” codes and passwords were retained by Mr. Mac Aro.
This action by Mr. Mac Aro virtually crippled the entire FLIT organization. The sabotage
of FLIT assets and Company seems to be pre-mediated in the opinion of the interim management. Mr. Mac Aro immediately started
changing the FLIT business model to some “taxi” lead generation service. Mr. Mac Aro claimed the FLIT software as
his “Own” and “Personal Property” notwithstanding that all previous filings indicate otherwise. Mr. Mac
Aro demanded additional 500 million shares of FTWS in return for the software owned by FTWS. This unreasonable demand came after
Mr. Tobi Mac Aro resigned and terminated all positions with FTWS. The interim management has not investigated the ownership of
the taxi service and if Mr. Mac Aro has any stake in that company.
Mr. Mac Aro is unwilling
or unable to demonstrate that he owns the software, or how he came into possession of the software, domain name and all the good
will of FLIT.
Mr. Mac Aro initially
offered the interim management and the preferred shareholder the opportunity to rescind the agreement once he sabotaged the FLIT
enterprise. Upon the interim management acceptance Mr. Mac Aro refused to return any monies paid by preferred shareholder for
the control block.
FLIT interim management
intends to legally recover its software and all assets tangible and intangible now in control of X management Mr. Mac Aro. The
management also intends to seek a legal set off via recovery of the approximately 30 million FLIT shares currently in control
of Mr. Mac Aro.
The new management
is of the opinion that the damage of good will and the entire ride share program of FLIT has been severely damaged by actions
of Mr. Mac Aro. The damages sustained may be repairable. The length of time to “restore operations” to its full capacity
is unknown or uncertain. The interim management is projecting a 6 to 9 month horizon.
The interim management
since FLIT sabotage and corporate theft of Mr. Mac Aro attempted to no avail to reach a settlement agreement with Mr. Mac Aro
so that some value can be restored, and rebuilding process started.
During the month
of September 2018, it was identified that the motive behind Mr. Mac Aro sabotage of FLIT was due to the fact that Mr. Mac Aro
assumed the new management would increase the authorized shares to 2 Billion shares and whereby Mr. Mac Aro would receive 500
Million shares as a “golden parachute” for termination of his employment. Once Mr. Mac Aro was made aware that the
preferred shareholder and new interim management offered creditors cash as full settlement on a fraction of the debt owed by FLIT
and that the FLIT creditors were receptive to this settlement and whereby the existing share structure of FLIT would either slightly
increase or remain undisturbed Mr. Mac Aro intensified the sabotage in an effort to completely undermine any recovery of FLIT
On October 3, 2018 the preferred shareholder and interim management instructed a retained
Nevada litigation attorney to commence legal proceedings against Mr Mac Aro. Mr. Mac Aro was made aware of this instruction.
From October 3, 2018 until October 5 2018 Mr. Mac Aro immediately responded and commenced
returning the control of FLIT back to interim management. Mr. Mac Aro was given 10 days or until October 15 2018 to return 100%
of all FLIT assets codes software and all monies he received inappropriately and all items properly belonging to FLIT.
As of the date of this filing certain critical items remain in Mr. Aro possession such
as access codes to the credit card processor, return of approximately $80,000 of revenue generated by FLIT and similar monetary
Mr. Mac Aro claims that this money of approximately $80,000 revenues generated by FLIT
is rightfully his because of unpaid past wages. Mr.Mac Aro also claimed that he paid FLIT suppliers with these monies yet was
unwilling or unable to explain by what authority he did this as he resigned all positions with FLIT and more importantly Mr. Mac
Aro is unwilling or unable to show any proof that such payments to any FLIT creditors were ever made.
As of the date of this filing up to and including October 15, 2018 no revenue has been
realized (captured) by any operations of FLIT nor does interim management have access to any FLIT revenues.
Mr. Mac Aro remains reluctantly and evasively “un-cooperative”.