Ioticiti Networks Inc. – Metro Connect International - Mustang Holdings - Metro Wireless Cecil Darren Frank – [email protected] Darrin Frank Sophia Frank Sophia Opasinis Darrin Frank Jr. Ron Frank – [email protected] Lou Gallucci – Lgallucci @ioticiti.com Jordan Gallucci – [email protected] Ioticiti Networks Inc. – Metro Connect International - Mustang Holdings - Metro Wireless Cecil Darren Frank – [email protected] FrankSophia FrankSophia OpasinisDarrin Frank Jr.Ron Frank – [email protected] Gallucci – Lgallucci @ioticiti.comJordan Gallucci – [email protected] Ioticiti Networks Inc. – Metro Connect International - Mustang Holdings - Metro Wireless Cecil Darren Frank – [email protected] FrankSophia FrankSophia OpasinisDarrin Frank Jr.Ron Frank – [email protected] Gallucci – Lgallucci @ioticiti.comJordan Gallucci – Jgal[email protected] Investment Fraud- private company and should only have had 50 investors. To our knowledge there are 150+ shareholders. Ioticiti has not followed the laws under the BC Corporation Act or the BC Securities Commission. These people have brought undue stress and hardship to many shareholders families by perpetuating lies and given false deadline dates to when investors would be paid dividends, when shareholders would be bought out and even denying them any documentation about comapy financials, evaluations of their technology or current share price. Markham Ontario
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.
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.
#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.
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.
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?
#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 offUnited States
#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 offUnited States
#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?
#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
#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.
Destroyed by the Franks and Galluccis.United States
#9UPDATE EX-employee responds
Wed, May 17, 2023
ripped off shareholderUnited States
Wed, May 17, 2023
Filings from US Courts.
They should not have got off this easily.
These poor people (the clients) were ripped off and i feel terribly for them.