Complaint Review: Ioticiti Networks Inc. – Metro Connect International - Mustang Holdings - Metro Wireless - Markham Ontario

they had all they needed to make an amazing company, especially with the frequency licenses they owned in mexico, canada and united states.   They even told me about europe and africa in a few of the discussions. 

how can they be such blatant liars straight to my face.  I brought in my brothers as well for investment and i have to deal with the fall out now?  They have really hurt many many relationships because of their greed. 

hopefully the all of this will be brought to light and a form of justice will be served. 

if you havent already done so we are urging you to participate in the filings with the bc securities commission. 

we need help to get things moving and urge you to file referencing "ioticiti". 

more and more sharelholders are getting together and we are finding that so many families and businesses have been affected by ioticiti's complete lack of transparancy.  Consider the stories you have been told and who really drove the investment opportunity at you.  

I used my kids university funds and i told them i was going to do this.  I am not a rich man and they understood this.  they have destroyed my kids futures. 

all the business execs were in on it and they will not pick up their phones, answer their emails - they know i know everything now and will cannot face what they have done.  they have been caught red handed.. i am going to push to get the rcmp involved.  

To the external shreholders it was a no brainer for ioticiti to go to the BDC; especially with the tech they were developing.  Many of us had good interactions with the BDC and were successful in using them to get our businesses going.  For years this subject was brought up and often the replies were in the form of deflection or appeasement with no action. 

Everyone on the business team was complicit in this deflection. 

After finding out what happened in december of 2022 when the accounts were exposed it makes absolute sense that the BDC business loans were discouraged. 

What i dont understand is how the executives can be just allowed to tuck tail and run.   After all they put out some great stuff and were working closely with the government. 

https://govlaunch.com/projects/vaughan-on-experiments-with-ioticiti-system-for-automated-stormwater-pond-monitoring

why would someone risk all of this?  why wouldnt they try and get their backend dealings in order as so much is on the line? 

Michael Friedman, Chris Macloed, Andrew Branion, Lou Gallucci and Jordan Gallucci - exit from the company with no minutes or agm distributed to anyone.

why didnt any of the business executive team/board of directors put together an AGM to annouce their departure from the company?

why didnt they put together an AGM in 2022 when they began pointing fingers at one another for the mishandling of the funds by ioticiti business executives?

knowing this was all going on how could they continue to fundraise into late November 2022.... this all doesnt make any sense unless they were all in on the laundering of the $'s coming in? 

so immoral and unethical.. absolutely disgusting bunch. 

SNRED Credits - We understand now why they were never obliged even though many of us knew what we were doing at ioticiti would qualify for all the SNRED credits.

Radio development - we made a radio that is in the field

sensor stack development - we made a product that is in the field

it operations work

software/hardware development for construction applications

and much more. 

Being well versed in R&D and product development the SNRED program in canada is an excellent means to recoup R&D money for all the work that was being done by the development team. 

Some of us would request the use of the SNRED but the executives would nay say it and said it wasnt worth it.  This went on for years... despite knowing that SNRED can recoup 40% if not more of the R&D expenses.  This should have been a red flag for many of us but we had a lot of trust at the time in the executive team. 

Some of the lead technical staff were never paid and would often put in 70 hour weeks to get the development done.  The premise around the work conducted was always we are almost there and the big payout was coming.  We were terribly mislead and its horrible that some of the executives were paying for their own homes, cars, family cars and expenses etc on the backs of both the tech team and the shareholders investment dollars.  

The immoral and unethical behaviour of the executive business team is absolutely abhorrent.  

Why wasn't the Supreme Civil Suit May 2021 announced to the shareholders when it first arose?

Shouldnt have this been conducted based on the corporations act? Doesn't the executives and board members have a fudiciary responsibility for full disclosure with all dealings with the company that may affect the share value?

Why wasn't the Radio Mobile suit announced to the shareholders when it first arose?

Shouldnt have this been conducted based on the corporations act? Doesnt the executives and board members have a fudiciary responsibility for full disclosure with all dealings with the company that may affect the share value?

All the executives participated in fund raising for a decade. Nobody at any time considered calling out where the money was going even though cheques were directly handed to them.

This in iteself is incredibly hard to believe. 

Logic would dictate that all those listed here: https://www.ripoffreport.com/report/ioticiti-networks-metro/markham-ontario-cecil-darren-1526275

--- Would at some point consider checking on where the 10's of millions of $'s were deposited; and for a company that had no product out there how was there burn rate so high?

At no point did any reflect on the ethical nature or the fudiciary responsibilities in managing peoples money? Especially those they had a personal relationship with whom were banking on ioticiti/metro connect being successful? 

Was everyone in on it? Even those in British Columbia where they were headquartered out of? 

All these questions need to be addressed but after being taken to the cleaners by ioticiti many of us do not have the funds to support lawyers.  Meanwhile all of the ioticiti business corporate team and their offspring are driving high end vehicles and living in high end homes. 

This is all so surreal and sickening. 

Link1

https://www.ripoffreport.com/report/american-mastercraft-steel/markham-ontario-bilked-i-non-1525990

Link2

https://www.ripoffreport.com/reports/american-mastercraft-steel-buildings-corporation/boca-raton-florida-33434/american-mastercraft-steel-buildingsdarren-frank-sold-me-a-sales-pitch-for-a-steel-build-302967

Filings from US Courts. 

https://www.govinfo.gov/content/pkg/USCOURTS-flsd-9_05-cv-80732/pdf/USCOURTS-flsd-9_05-cv-80732-0.pdf

They should not have got off this easily. 

These poor people (the clients) were ripped off and i feel terribly for them.