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  • Report:  #1526275

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

Reported By:
West Palm Petrie - Ponte Vedra Beach, Florida, United States
Submitted:
Wed, May 10, 2023
Updated:

Ioticiti Networks Inc. – Metro Connect International - Mustang Holdings - Metro Wireless
100 Allstate Parkway, Unit 801, 900 Markham, L3R 6H3 Ontario, Canada
Phone:
1-844-684-2484
Web:
www.ioticiti.com
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Report Attachments

Tale of Two Cities- Markham Ontario 2023 - What some thought was a lucky chance to have the privilege to being invited to invest in a new IoT company that developed their own WIRELESS SUPERHIGHWAY namely IOTICITI NETWORKS INC. (Metro Connect International - Mustang Holdings - Metro Wireless) Darrin Frank and Lou Gallucci began sucking in small investors, family's and small businesses to keep them afloat until they were able to bring in some big investors(FISH). Since 2015 they have had 3 different private placements at various prices, they have received deposits from future business partners, they first told shareholders they were focusing on Canada and the USA, then they were meeting and negotiating with potential Global buyers. Since early 2018 it has been delay after delay after delay having negotiations with various parties to buy ownership, with signings of various partnerships and multiple client agreements. The problem is shareholders were getting verbal updates to all these details via phone calls from the VP of Business Development namely Lou Gallucci. In mid 2021 there was a company evaluation done by Deloitte and by the end of 2021 there were new officers hired CEO Andrew Branion (Former Scotiabank) and COO Michael Friedman (Former Scotiabank) with shareholders being updated by Mr. Gallucci again. In 2022, there was an evaluation completed by the C.T.I.A of Ioticiti’s US and Canadian Spectrum licences which were needed for the negotiations with potential ownership buyers. However, this information has not been shared with any shareholders, only verbal confirmation to a few shareholders by Lou Gallucci. To the present day there has never been a shareholders meeting, vote, or sharing of any documentation. Now many family and friends are fighting because in today's economy, many of the initial small investors need there investment out of Ioticiti before they loose property, businesses and spouses.

Tale of Two Cities- Boca Raton Florida 2006 - Cecil Darrin Frank and his wife Sophia (Opasinis) Frank found guilty of fraud and deported to Canada.

https://www.govinfo.gov/content/pkg/USCOURTS-flsd-9_05-cv-80732/pdf/USCOURTS-flsd-9_05-cv-80732-0.pdf?fbclid=IwAR3KQ8iPQqrpxodEhX7-MhNcMVytwOpNzbLAJTJqcob8_X0-ljaUAjkdpQY

http://search.sunbiz.org/Inquiry/corporationsearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=AMERICANMASTERCRAFTSTEELBUILDI%20P980000444270&aggregateId=domp-p98000044427-19202bd4-9873-4f15-b645-faf0051db553&searchTerm=AMERICAN%20MASTERCRAFT%20INC.&listNameOrder=AMERICANMASTERCRAFT%20F150000051920&fbclid=IwAR3q5ucCVe9D0hE8XZCfiNKzbzo6_z4P57tf799nXDTYxJFTpyb0X7diQo0

https://www.tractorbynet.com/forums/threads/beware-american-mastercraft-buildings.4158/?fbclid=IwAR1p3XEqq6Gf59rUFAt3tGJ6OSXVHAP-jRnBEaMSzckwWuXSVQAhgBe00tk

It seems this family easily gets co-conspirators to lie and cheat good hard working people and their families out of their hard earned money, destroys some small businesses and breaks up many families and friendships with no remorse. How do I know that, well when Ronakld Frank lives a high lifestyle and sits in an empty offfice out in Vancouver, brother Cecil Darrin Frank and his wife recently sold two residential homes for approximately $6 million, partly owns an Italian restaurant and drives a Bentley.

Please spread the word to stay clear of all of these people mentioned above and here is some more linkls you can check out and please comment about your experience with any of them.

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

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

 

 

 

 



 



9 Updates & Rebuttals

tim horton

Canada
BDC and Fund Raising.

#2REBUTTAL Individual responds

Wed, May 31, 2023

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. 


ripped

Canada
Why? They were doing well with the their municipal, province, state and possibly nationwide projects?

#3Consumer Comment

Mon, May 29, 2023

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? 

 

 


disgusted

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

#4UPDATE EX-employee responds

Thu, May 25, 2023

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. 


ripped off

United States
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.

#5UPDATE EX-employee responds

Thu, May 25, 2023

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.  

 

 


ripped off

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

#6UPDATE EX-employee responds

Thu, May 25, 2023

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?


ripped

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

#7UPDATE EX-employee responds

Thu, May 25, 2023

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?


angry parent - they stole from my family.

United States
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.

#8UPDATE EX-employee responds

Thu, May 18, 2023

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. 

 



ripped off shareholder

United States
Background on the Franks - US Court Filings.

#10Consumer Comment

Wed, May 17, 2023

 

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. 

 

 

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