Tonner One World Holdings Inc (TONR)

[FreezeThese]

LG Capital Funding v. One World Holdings, Inc.
1:15-CV-00698

Report and Recommendation

Plaintiff LG Capital Funding, LLC ("LG") has sued defendant One World Holdings, Inc. ("OWOO") for breach of contract and related claims. See Docket Entry ("DE") 1 (Complaint). OWOO has defaulted and LG now seeks a default judgment. See DE 16. Upon a referral from the Honorable Sterling Johnson, Jr., United States District Judge, I now make this report and for the reasons set forth below respectfully recommend that the court enter judgment against OWOO on LG's first cause of action for breach of contract, dismiss its remaining claims, and award it a total of $296,085.72.

...

III. Recommendation

For the reasons set forth above, I respectfully recommend that the court deny the plaintiff's motion for contempt sanctions, grant its motion for default judgment with respect to the first cause of action, dismiss the remaining causes of action, and enter judgment against the defendant in the total amount of $296,085.72 (consisting of $284,500.97 in damages; $11,184.75 in reasonable attorneys' fees; and $400 in costs).

So ORDERED.
Dated: Brooklyn, New York
August 6, 2015

08/24/2015 [31] - OBJECTION to 28 Report and Recommendations filed by LG Capital Funding, LLC. (Attachments: # 1 Exhibit A - Hearing Traanscript)

CONCLUSION
For the foregoing reasons, it is respectfully submitted that the Court: i) finds OWOO in default of §3.2 of the Note for failure to honor LG’s conversion request; ii)grants an injunction ordering OWOO to immediately deliver 3,707,681 shares of its common stock to LG and to honor all future conversions under the Notes; iii) grants LG’s motion finding OWOO in contempt; and iv) applies the default payments in its calculation of damages.

08/24/2015 [30] - OBJECTION to 28 Report and Recommendations filed by One World Holdings, Inc.. (Attachments: # 1 Exhibit A (Report and Recommendation, dated August 6, 2015), # 2 Exhibit B (Note))

Conclusion:

14. OWOO respectfully requests that the amount of damages be reduced by $80,647.47 (i.e. the amount imposed by the multiplier 2.0) to $215,438.24