Element Global Inc (ELGL)

[inzane]

It's listed in the filings under the Legal section. Here's a link to the court case. http://www.otcmarkets.com/financialReportViewer?symbol=WFSV&id=83912

This is a case that has been hanging around forever. Stems from the Prime Multimedia (PRMX) days.

The footnotes version is:

The company acquired Prime Multimedia and settled with the employees of the company for the exchange of shares and their termination with the promise that the company wouldn't reverse split or dilute the stock.

The company did a reverse split (which actually added value to the company at the time). Then Daniel Korrey (former PRMX employee) filed a lawsuit stating that the company violated the settlement agreement.

The funny thing is, Mr. Korrey stated that the company was in violation, however, he actually committed FRAUD in the first place. Part of the original settlement agreement was that the existing employees would be terminated, however, Korrey had already been fired because of poor job performance and also because he had been DISCLOSING INSIDER INFORMATION!

My personal sentiments on the matter... SCREW THAT GUY! If the company wants to fight the case then I stand with them.

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