Adaptive Medias Inc (fka ADTM)

[236T568]

On September 29, 2015, Adaptive Medias, Inc. (the “Company”) filed a complaint against Meetme Inc, Beanstock Inc, Jim Waltz (Company’s former Director) and certain other individuals (the “Complaint”) for claims including but not limited to breach of fiduciary duty, aiding and abetting breach of fiduciary duty, and fraud in the execution. The Complaint was filed with the Superior Court of the State of California, County of Orange. Among other claims, it is Company’s belief that Jim Waltz breached his fiduciary duties when he served as a Director of the Company by fraudulently inducing the Company to guarantee financial obligations of Beanstock Media, Inc. to Meetme Inc. Company seeks legal remedies in compensatory damage, punitive damage, declaratory judgment and any other relief that the court deems just and proper.


http://www.sec.gov/Archives/edgar/data/1428397/000114420415057219/v421277_8k.htm