Hangover Joe's Holding Corp. (fka HJOE)

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KBM Worldwide v. Hangover Joe's Holding Corporation and Matthew Veal
2:15-cv-07254

4. That KBM invested $43,000 in the Corporate Defendant by purchasing securities directly from the Corporate Defendant and making loans thereto and has sustained damages of $64,500 exclusive of attorney's fees, pre judgment interest, costs and late fees.

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21. That the maturity date of the Note, (October 6, 2015) has come and gone and no payment has been made despite due demand for same.

22. That the date for payment of principal and interest under the Note has come and gone, and the Note has fully matured and payment is due for same.

23. That by reason of the foregoing, Plaintiff has been damaged in the sum of $64,500 and is entitled to judgment against the Corporate Defendant for that sum together with default interest from the date of default.

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43. That while KBM is clearly entitled to a money judgment, the Corporate Defendant is clearly incapable of satisfying any such judgment obtained.

44. That in its most recent filing required under the Federal Securities Laws, the corporate Defendant concedes that is has total assets that are exceeded by its total liabilities thus render it insolvent.

45. That the Corporate Defendant also represents therein that for that period it had a net loss and that at the end of the period, it had insufficient cash to meet its obligations, thus rendering it insolvent.

46. That the only viable avenue available to KBM to obtain repayment of the outstanding Note is by exercising its conversion rights and thereby obtaining unrestricted shares of stock in the Corporate Defendant and selling those share on the open market.

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WHEREFORE, KBM demands judgment against Defendants as follows:
(i) For $64,500 on the First Cause of Action;
(ii) For $64,500 on the Second Cause of Action;
(iii) For $43,000 on the Third Cause of Action;
(iv) For an amount of lost profits to be determined by the Court but in no event less than $64,500 on the Fourth Cause of Action;
(v) Awarding KBM its reasonable legal fees and costs of litigation on the Fifth Cause of ACtion;
(vi) For an award of consequential damages in an amount to be determined by the Court but no less than $64,500 on the Sixth Cause of Action;
(vii) For a temporary restraining order and a preliminary and permanent injuction against the Defendants directing that said Defendants and their agents, servants and employees immediately take all steps necessary and proper to permit the conversion of debt to stock and to deliver the stock at issue as described above on the Seventh Cause of Action;
(viii) For $64,500 on the Eighth Cause of Action;
(ix) For $64,500 on the Ninth Cause of action; and...