To add to that it appears the shares were used to acquire the store locations from T-Mobile and MetroPCS. So these two successful companies are now shareholders of TALK. Awesome!!

Unable to obtain adequate debt financing, management decided that it was in the best interest of iTalk's shareholders to pursue a course that would enable the Company to get back on track through equity financing; a far more efficient and economical stratagem. Earlier this year, the iTalk/UMS merger opened the door to access significant equity investment capital through the sale of stock to fund its new retail development strategy as a master dealer working in concert with its carrier partners.