3D Entertainment Holdings Incorporated announces new Chairman/Board of Directors, the retirement of 1 billion company shares
3D Entertainment Holdings Incorporated announces new Chairman/Board of Directors, the retirement of 1 billion company shares and an internal investigation of past company convertible debentures
3d Entertainment Holdings Inc. puts forth new slate of directors and transfers super k class vote to the company
CHEYENNE, WY and CARSON CITY, NV -- September 15, 2015 -- InvestorsHub NewsWire -- 3D Entertainment Holdings, Inc., a Wyoming Corporation, dba 3D Eye Solutions Inc. (OTCPINKSHEETS: TDEY) announces the resignation of Scott Weinert as chairman and CEO, the resignation of James S. Tassan as acting CFO and Eddie Vakser as Director. The board has received a new slate of directors consisting of three sole board members: Oak River Technology CEO Kent Linduff, as Chairman TDEY, Ken Holderbaum, Director TDEY and Linda Linduff, Secretary Treasurer TDEY. At this time the new board of directors would like to thank Mr. Weinert, Mr. Tassan and Mr. Vakser for their services while wishing them much success with their future business aspirations.
On September 4, 2015 the company adopted a corporate resolution stipulating the transfer of the 3D Entertainment Holdings, Inc. Super K Class, non conversional, 69% super vote to the company. The company now holds this voting right under a conditional provision to exercise with the requirement of signatures from the company chairman and one board member.
The aforementioned actions have been duly noted with the Wyoming Secretary of State and OTC Markets Group.
3d Entertainment Holdings Inc. retires 1 billion company shares
Our new Board of Directors has reached an agreement to immediately retire the total 1 billion shares of company stock which was acquired as part of the Oak River Technology LLC / 3D Entertainment Holdings Inc. merger agreement.
3d Entertainment Holdings Inc. launches investigation of past managements use of debt conversions
Our new Board of Directors has initiated an internal investigation as to the past practices made by previous management. Due to the presence of excessive company notes/debt conversions, this investigation will include a full review of all past convertible debentures to ensure that prior management utilized such excess debt burden in the best interest of the company and not for the benefit of personal enrichment. The new company Chairman is of the professional opinion that the exodus of previous management occurred without sufficient explanation as to the financial hardship assigned to both the company and its shareholders with respect to such debt conversions. Due to this investigation, Alpine Securities received notification from the company's legal representatives mandating a suspension of the clearing of any and all future certs until further notice.
This is a significant step in building shareholder trust in the new TDEY and Oak River Technology (ORT), all of us at TDEY/ORT will remain focused on driving shareholder value and trust said Kent Linduff, Chairman TDEY
For more information contact: investorrelations@oakrivertech.com
www.oakrivertech.com
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