NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
NOTE
1 – SUMMARY OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES
Business
and Basis of Presentation
ITALK
INC. (the “Company”) was formed on July 10, 2006 under the laws of the State of Nevada as Sopac Cellular Solutions,
Inc. On December 18, 2012, the Company changed its name iTALK INC. affected by way of a merger with its wholly-owned subsidiary
iTalk Inc. which was created solely to facilitate the name change.
On
September 24, 2015, the Company entered into a Purchase and Sale Agreement with United Mobile Solutions Corp., “UMS”
a Delaware corporation. Under the terms of the Purchase Agreement, the Company agreed to acquire from Mr. Lee all of the issued
and outstanding capital stock of UMS in exchange for shares of the Company’s preferred stock, par value $0.001 per share,
convertible into 85% of the Company’s fully diluted common stock, par value $0.001 per share as of the date of closing which
occurred on January 29, 2016. UMS was formed in May 2010 and is in the business of providing value added products and services
to T-Mobile dealers, mobile virtual network operations dealers, wireless product and service resellers, exclusive carrier agents,
distributors and wholesalers nationwide. In addition to its products and services, the Company is also an authorized Master Agent
and wholesale partner of T-Mobile U.S.A. contracted to do business in the southeastern region of the United States including provides
training and development, new dealer recruitment, retail store development and commissions processing for its sub agents to its
customers.
The
consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, iTalk, Inc. and RocketVoIP,
Inc. All significant inter-company transactions and balances have been eliminated in consolidation.
Interim
Financial Statements
The
following (a) condensed consolidated balance sheet as of August 31, 2015, which has been derived from audited financial statements,
and (b) the unaudited condensed consolidated interim financial statements of the Company have been prepared in accordance with
the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all the information and footnotes
required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring
accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended November
30, 2015 are not necessarily indicative of results that may be expected for the year ended August 31, 2016. These condensed consolidated
financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the
year ended August 31, 2015 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange
Commission (“SEC”).
Going
Concern
The
accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles
generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. However,
the Company has reported net losses of $141,136 and $277,484 for the three month periods ended November 30, 2015 and 2014, respectively,
accumulated deficit of $5,719,302 and total current liabilities in excess of current assets of $2,662,608 as of November 30, 2015.
The
Company has minimal revenues from operations and will be dependent on raising funds to satisfy its ongoing capital requirements
for the next 12 months. The Company will require additional financing in order to execute its operating plan and continue as a
going concern. The Company cannot predict whether this additional financing will be in the form of equity or debt, or by in another
form. The Company may not be able to obtain the necessary additional capital on a timely basis, or on acceptable terms, or at
all. In any of these pressures, any of these circumstances would have a material adverse effect on its business, prospects, financial
condition and results of operations.
The
unaudited condensed consolidated financial statements do not include any adjustments relating to the recoverability of assets
and classifications of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.
Revenue
Recognition
The
Company follows the guidance in Staff Accounting Bulletin 104 (“SAB 104”), which provides guidance on the recognition,
presentation and disclosure of revenue in financial statements. SAB 104 states that revenue is realized or realizable and earned
when all of the following criteria are met: persuasive evidence of an arrangement exists, services have been rendered, the seller’s
price to the buyer is fixed or determinable, and collectability is reasonably assured.
Revenues
are primarily derived from fees charged to terminate voice services over the Company’s network and from related monthly
recurring charges. Variable revenue is earned based on the number of minutes during a call and is recognized upon completion of
a call. Revenue from each customer is calculated from information received through the Company’s network switches. The Company
tracks the information received from the switch and analyzes the call detail records and applies the respective revenue rate for
each call. Fixed revenue is earned from monthly recurring services provided to customers that are fixed and recurring in nature,
and are connected for a specified period of time. Revenues are recognized as the services are provided and continue until the
expiration of the contract or until cancellation of the service by the customer. Cash fees received prior to call completion are
recorded on the Company’s consolidated balance sheets as deferred revenue. As of November 30, 2015, the Company recorded
deferred revenue of $46,243.
Use
of estimates
The
preparation of financial statements in accordance with accounting principles generally accepted in the United States requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent
assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting
period. Actual results could differ from those estimates. Significant estimates include impairment of intangible assets assumptions
used in the fair value of stock-based compensation and derivative liabilities.
Derivative
Instrument Liability
The
Company accounts for derivative instruments in accordance with ASC 815, which establishes accounting and reporting standards for
derivative instruments and hedging activities, including certain derivative instruments embedded in other financial instruments
or contracts and requires recognition of all derivatives on the balance sheet at fair value, regardless of hedging relationship
designation. Accounting for changes in fair value of the derivative instruments depends on whether the derivatives qualify as
hedge relationships and the types of relationships designated are based on the exposures hedged.
In
accordance with this authoritative guidance, the Company recognized certain reset conversion features embedded in an issued a
settlement agreement, convertible notes payable and registration rights agreement as derivative instruments at fair value.
Accounting
for changes in the fair value of the derivative instruments depend on whether the derivative qualifies as hedge relationships
and the types of relationships designated are based on the exposures hedged. At November 30, 2015 and August 31, 2015, the Company
did not have any derivative instruments that were designated as hedges.
Net
Income (loss) per Common Share
The
Company computes net income (loss) per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share (“ASC
260-10”). Basic net income (loss) per common share is computed by dividing net loss by the weighted average number of shares
of common stock. Diluted net income (loss) per share is computed using the weighted average number of common and common stock
equivalent shares outstanding during the period. For the three months periods ended November 30, 2015 and 2014, 2,335,392,943
and 569,927,406 shares, respectively, underlying convertible debt were not included in the diluted loss per share because their
impact was anti-dilutive. As of November 30, 2016, there were 50,001,287 shares of common stock subscribed but not issued that
are included in the loss per share calculation.
Cash
and Cash Equivalents
For
purposes of reporting cash flows, the Company considers all cash on hand, in banks, certificates of deposit and other highly liquid
debt instruments with a maturity of three months or less at the date of purchase, to be cash and cash equivalents.
Intangible
Assets
The
Company amortized its identifiable intangible assets using the straight-line method over their estimated period of benefit. The
estimated useful life of the customer relationships is five years. The Company periodically evaluates the recoverability of intangible
assets and takes into account events or circumstances that warrant revised estimates of useful lives or indicate that impairment
exists.
Stock-Based
Compensation
The
Company accounts for our stock based compensation under ASC 718 “Compensation – Stock Compensation” using the
fair value based method. Under this method, compensation cost is measured at the grant date based on the value of the award and
is recognized over the service period, which is usually the vesting period.
This
guidance establishes standards for the accounting for transactions in which an entity exchanges its equity instruments for goods
or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based
on the fair value of the entity’s equity instruments or that may be settled by the issuance of those equity instruments.
Compensation
expense for restricted stock or options granted to non-employees is determined in accordance with the standard as the fair value
of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measured.
Determining
the appropriate fair value of the stock-based compensation requires the input of subjective assumptions, including the expected
life of the stock-based payment and stock price volatility. The Company uses the Black-Scholes option-pricing model to value its
stock option awards which incorporate the Company’s stock price as determined by an outside third-party, an average volatility
of comparable companies, U.S. risk-free rate, dividend rate, and estimated life.
Income
taxes
Income
tax provisions or benefits for interim periods are computed based on the Company’s estimated annual effective tax rate.
Based on the Company’s historical losses and its expectation of continuation of losses for the foreseeable future, the Company
has determined that it is more likely than not that deferred tax assets will not be realized and, accordingly, has provided a
full valuation allowance. As the Company anticipates or anticipated that its net deferred tax assets at November 30, 2015 and
2014 would be fully offset by a valuation allowance, there is no federal or state income tax benefit for the periods ended November
30, 2015 and 2014 related to losses incurred during such periods.
Fair
Value of Financial Instruments
Fair
value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as
of November 30, 2015 and August 31, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated
their fair values. These financial instruments include cash and accounts payable. Fair values were assumed to approximate carrying
values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they
are payable on demand.
Recently
Issued Accounting Pronouncements
There
are various updates recently issued, most of which represented technical corrections to the accounting literature or application
to specific industries and are not expected to a have a material impact on the Company’s consolidated financial position,
results of operations or cash flows.
NOTE
2— FAIR VALUE MEASUREMENT
As
defined in (Financial Accounting Standards Board ASC 820), fair value is the price that would be received to sell an asset or
paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company
utilized the market data of similar entities in its industry or assumptions that market participants would use in pricing the
asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs
can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on
the observability of those inputs. FASB ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure
fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities
(level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).
The
three levels of the fair value hierarchy are as follows:
Level
1 –
|
Quoted
prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those
in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on
an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities
and listed equities.
|
Level
2 –
|
Pricing
inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable
as of the reported date and includes those financial instruments that are valued using models or other valuation methodologies.
These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for
commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as
well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout
the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions
are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity
swaps, interest rate swaps, options and collars.
|
|
|
Level
3 –
|
Pricing
inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with
internally developed methodologies that result in management’s best estimate of fair value.
|
The
following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that
were accounted for at fair value as of November 30, 2015 and August 31, 2015.
Recurring
Fair Value Measures
|
|
Level
1
|
|
|
Level
2
|
|
|
Level
3
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative liabilities as of November 30, 2015
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
475,200
|
|
|
$
|
475,200
|
|
Derivative liabilities as of August 31, 2015
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
424,592
|
|
|
$
|
424,592
|
|
NOTE
3 – STOCKHOLDERS EQUITY
On
January 14, 2015, the Company filed an amendment to their Articles increasing the authorized shares to 1,875,000,000 shares.
On
February 11, 2015, the Company received a stock subscription agreement to purchase 120,000,000 shares of common stock at $0.00025
per share. On March 11, 2015, the subscriber paid the Company $30,000 as a cash payment for the shares. On October 29, 2015, the
Company issued 69,998,713 of the 120,000,000 shares as the Company did not have adequate authorized shares to issue the total
number subscribed.
NOTE
4– RELATED PARTY TRANSACTIONS
As
of August 31, 2015, there was a loan payable due to Ezra E. Ezra, a former officer of the Company for $21,965, which is non-interest
bearing with no specific repayment terms and a loan payable due to David F. Levy for $15,000 which is non-interest bearing with
no specific repayment terms.
During
the three months ended November 30, 2015, an affiliate of the Company advanced $2,400. The advance is on demand and does not bear
interest.
NOTE
5– CONVERTIBLE NOTES PAYABLE
Yew
On
May 17, 2013, the Company issued a $130,928 unsecured convertible promissory note that matured August 31, 2013. The note bears
interest at a rate of 4.9% and was convertible into 130,928 shares of the Company’s common stock, at a conversion rate of
$1.00 per share. Interest was also convertible into common stock at the conversion rate of $1.00 per share. In October 2013, the
note was transferred to IBC Funds however the original note holder was not paid, the conversion price was modified to 55% of the
lowest closing price during the 20 days preceding conversion, and the note reverted to the original holder. As of November 30,
2015, the outstanding balance was $130,928.
Dutchess
Opportunity Fund
On
October 17, 2013, the Company issued an unsecured convertible note in the principal amount of $300,000 to Dutchess Opportunity
Fund, II, LP (“Dutchess”). The Company received proceeds from the Note in the amount of $235,000. The Note does not
bear an interest rate; however, the Company was obligated to repay Dutchess $300,000 on or before October 17, 2015. The Company
is obligated to pay Dutchess monthly amortization payments of $20,000 beginning on December 1, 2013.
The
note was immediately convertible into shares of the Company’s common stock, par value $.001, (the “Common Stock”)
at the sole option of Dutchess. At inception date, the conversion price was 90% of the lowest volume weighted average price of
the Common Stock during the 20 trading days immediately prior to a conversion notice from Dutchess to the Company.
On
March 16, 2016, the Company entered into a settlement agreement with the Dutchess Opportunity II Fund, LLC whereby the fund received
a warrant to purchase 150,000,000 shares to common stock at $0.0001 per share in exchange for forgiving all principal, interest
and fess of the $300,000 note. The Company valued the settlement and accrued $255,000 as of August 31, 2015 against the note payable
for a total liability of $555,000 .
Radican
Notes
On
September 16, 2013, the Company issued two unsecured notes payable, in the aggregate amount of $150,000, bearing interest at 12%
per annum with both principal and interest due at March 31, 2014. The holders have a right, at maturity or in an event of default
(as defined), to convert any outstanding and unpaid principal portion of the notes and accrued interest at a conversion price
of 50% of the average of five lowest bid prices of the Company’s common stock during the previous fifteen trading days from
the conversion date.
At
inception, the Company has identified the embedded derivatives related to the above described notes. These embedded derivatives
included certain conversion features and reset provisions.
The
accounting treatment of derivative financial instruments requires that the Company record fair value of the derivatives as of
the inception date of notes and to fair value as of each subsequent reporting date which at November 30, 2015, was $239,985. As
of November 30, 2015 the balances of the notes were $150,000.
LG
Capital Funding, LLC
On
August 7, 2014, the Company issued an unsecured 8% convertible redeemable note in the amount of $40,000, bearing interest at 8%
per annum with both principal and interest due on August 7, 2015.
The
note is convertible into the Company’s common stock, after 180 days, at a conversion price at 43% discount to the lowest
average of the bid ten trading days preceding the delivery of any conversion notice.
The
Company has identified the embedded derivatives related to the above described note. These embedded derivatives included certain
conversion features and reset provisions.
The
accounting treatment of derivative financial instruments requires that the Company record fair value of the derivatives as of
the inception date of note and to fair value as of each subsequent reporting date which at November 30, 2015 was $115,191. As
of November 30, 2015 the balance of the note was $28,680.
On
May 20, 2015, the Company issued an unsecured 8% convertible redeemable note in the amount of $23,650, bearing interest at 8%
per annum with both principal and interest due on May 22, 2016.
The
note is convertible into the Company’s common stock, after 180 days, at a conversion price at 43% discount to the lowest
bid twenty trading days preceding the delivery of any conversion notice.
The
Company has identified the embedded derivatives related to the above described note. These embedded derivatives included certain
conversion features and reset provisions.
The
accounting treatment of derivative financial instruments requires that the Company record fair value of the derivatives as of
the inception date of note and to fair value as of each subsequent reporting date which at November 30, 2015 was $120,024. As
of November 30, 2015, the balance of the note was $23,650.
NOTE
6 – DERIVATIVE INSTRUMENTS
The
Company issued debt instruments that were convertible into common stock of the Company’s common stock. The conversion options
embedded in these instruments contain no explicit limit to the number of shares to be issued upon settlement and as a result are
classified as liabilities under ASC 815.
The
following table summarizes the changes in the derivative liabilities as of November 30, 2015:
Balance as of August 31, 2015
|
|
$
|
424,592
|
|
|
|
|
|
|
Change in fair value
of derivative liability
|
|
|
(50,608
|
)
|
|
|
|
|
|
Balance as of November 30, 2015
|
|
$
|
475,200
|
|
NOTE
7 - COMMITMENTS AND CONTINGENCIES
On
November 21, 2014, on the 17
th
Judicial Circuit Court in and Broward County, Florida (the “Court”), a Contract
and Indebtedness lawsuit was filed by TCA Global Credit Master Fund, L.P. against the company. It commenced an action against
the company to recover an aggregate dollar amount of $395,623.04.
On
April 5, 2016, an agreement was reached whereby a third party purchased the note for $400,000 and is to pay the original note
holder over a 10 month period. The Company will issue shares to the third party at market price on date of issuance of which 65%
will be paid to the original note holder. Upon satisfaction of the $400,000 note the original note holder will vacate the lawsuit.
The Company has accrued an additional $219,762 for a total of $615,386 for the liability.
On
March 16, 2016, the Company entered into a settlement agreement with the Dutchess Opportunity II Fund, LLC whereby the fund received
a warrant to purchase 150,000,000 shares to common stock at $0.0001 per share in exchange for forgiving all principal, interest
and fees of the $300,000 note. The Company valued the settlement and accrued $255,000 as of August 31, 2015 against the note payable
for a total liability of $555,000 .
NOTE
8 – MAJOR VENDORS
The
Company has vendors that supply transmission systems for their customers’ calls. Three vendors provided 87.52% and 95.81%
of their product delivery in the three month period ended November 30, 2015 and 2014, respectively.
The
following table sets forth the percentage below:
|
|
Percent
of total purchases
|
|
|
|
|
|
|
Three
Months Ended
November 30,
|
|
|
Accounts payable
as of
|
|
|
|
2015
|
|
|
2014
|
|
|
November
30, 2015
|
|
Percent of total purchases
|
|
|
|
|
|
|
|
|
|
|
|
|
Vendor A
|
|
|
46.64
|
%
|
|
|
46.67
|
%
|
|
$
|
5,464
|
|
Vendor B
|
|
|
25.84
|
%
|
|
|
30.02
|
%
|
|
$
|
3,050
|
|
Vendor C
|
|
|
15.04
|
%
|
|
|
19.12
|
%
|
|
$
|
1,750
|
|
TOTAL
|
|
|
87.52
|
%
|
|
|
95.81
|
%
|
|
$
|
10,264
|
|
NOTE
9- SUBSEQUENT EVENTS
The
Company entered into a Purchase and Sale Agreement (the “Purchase Agreement”) on September 24, 2015 with Kil W. Lee
(“Mr. Lee”) and United Mobile Solutions Corp., a Delaware corporation (formerly known as United Mobile Solutions,
LLC) (“UMS”). Pursuant to the terms of the Purchase Agreement, the Company agreed to acquire from Mr. Lee all of the
issued and outstanding capital stock of UMS in exchange for shares of the Company’s preferred stock, par value $0.001 per
share, (“Preferred Stock”), convertible into 85% of the Company’s fully diluted common stock, par value $0.001
per share (“Common Stock”), as of the date of closing (the “Exchange”), prior to giving effect to dilution
of the issued and outstanding shares of Common Stock by (i) shares of Common Stock underlying options to be issued to David Levy
under a management option plan, which will represent 5.0% of the fully diluted shares of Common Stock of the Company at the date
of exercise of the options (“Prospective Levy Options”), (ii) shares of Common Stock underlying a warrant to be issued
to Mesa Partner, which will represent 4.9% of the fully diluted shares of Common Stock of the Company at the date of exercise
of the warrant (“Prospective Mesa Partner Warrant”), and (iii) shares of Common Stock underlying a warrant to be issued
to Andora Holdings, LLC, which will represent 4.9% of the fully diluted shares of Common Stock of the Company at the date of exercise
of the warrant (“Prospective Andora Holdings Warrant”).
On
January 29, 2016 (“Closing Date”), the Company closed (“Closing”) on the Exchange under the Purchase Agreement
pursuant to which the Company acquired 100,000 shares of common stock of UMS held by Mr. Lee, representing all of the issued and
outstanding capital stock of UMS, in exchange for issuing 106,250 shares of Preferred Stock of the Company to Mr. Lee and/or his
affiliates, convertible into 10,625,000,000 shares of Common Stock of the Company (where each share of Preferred Stock is convertible
into 100,000 shares of Common Stock). Upon Closing of the Exchange, UMS became a wholly owned subsidiary of the Company and the
Company’s pro-forma shares of Common stock and Preferred Stock issued and outstanding after giving effect to the Exchange
was 1,875,000,000 shares of Common Stock and 106,250 shares of Preferred Stock, convertible into 10,625,000,000 shares of Common
Stock of the Company (representing approximately representing 85% of the Company’s fully diluted Common Stock as of the
Closing Date), prior to giving effect to dilution of the issued and outstanding shares of Common Stock by the shares of Common
Stock underlying the Prospective Levy Options, Prospective Mesa Partner Warrant and Prospective Andora Holdings Warrant.
On
April 5, 2016, an agreement was reached whereby a third party purchased the note for $400,000 and is to pay the original note
holder over a 10 month period. The Company will issue shares to the third party at market price on date of issuance of which 65%
will be paid to the original note holder. Upon satisfaction of the $400,000 note the original note holder will vacate the law
suit. The Company has accrued an additional $219,762 for a total of $615,386 for the liability.
Subsequent
to the Closing the share exchange under the Purchase Agreement, the Company became aware of the following legal proceedings against
UMS and Mr. Lee:
On
November 17, 2015, American Express Bank, FSB, filed a Complaint on Account and Contract against Mr. Lee and CPD Mobile LLC in
the State Court of Gwinnett County, Georgia, seeking repayment of indebtedness in the amount of $207,646.
On
November 23, 2015, Tech Data Corporation filed a complaint against CPD Mobile d/b/a United Mobile Solutions and Mr. Lee in the
United Stated District Court for the Northern District of Georgia seeking $821,051, plus interest (in the amount of $51,423 as
of the date of the complaint and accruing at $405 per day), attorneys’ fees and costs of collection, for cell phones and
related equipment purchased from Tech Data Corporation by UMS and personally guaranteed by Mr. Lee. UMS denies owing more than
$400,000 of the payable, claiming the majority of the products were defective.
On
December 1, 2015, URSA Information Systems, Inc. filed a complaint for breach of written contract in the Superior Court of California,
County of San Bernardino, against United Mobile Solutions, LLC seeking damages in the amount of $115,627 for services provided
and $39,948 for compensatory damages.
On
March 16, 2016, NOWaccount Network Corporation and Small Business Credit Cooperative, Inc. filed a complaint against UMS, the
Company and Mr. Lee in the Superior Court of Gwinnett, Georgia, seeking injunctive relief and damages in the amount of $73,193
in connection with a Merchant Services Agreement.
On
March 16, 2016, Curve Commercial Services, LLC filed a complaint against United Mobile Solutions, LLC in the State Court of
Gwinnet County, Georgia, seeking $896,235, plus accrued interest in the amount of $143,643 and future interest in the amount
of $442 per day, for products purchased on account. On July 6, 2016, the Court entered a final judgement against United
Mobile Solutions, LLC in the amount of $896,235, plus accrued interest in the amount of $158,228, plus post-judgement interest.
On
May 17, 2016, ProcurePal, LLC filed multiple garnishment notices on financial institutions in connection with a judgment obtained
against United Mobile Solutions, LLC with an amount claimed due of $500,505.