From the CEO of Verity Corp
I am writing this shareholder update to share with you the progress we have made to date since my appointment to the CEO position.
Verity Corp is in the process of completing the necessary audits to finalize the 10k filing. According to our auditors and financial staff, we are at the very end of necessary testing of invoices, revenue and inventory. Once the audit is complete we will submit all the required accounting to our auditors and legal counsel for review and approval. And once the 10k is filed we will then turn our focus on catching up on the late 10q filings. We fully intend to get back to “fully reporting” status.
Despite the purposeful sabotage and malice of our majority shareholder, we have made significant progress in streamlining expenses and reestablishing business relationships that have been damaged by this subversion. Sales revenue is improving and debt pay down to vendors is occurring at a rapid pace. My fiduciary duties to seek the truth, defend shareholders’ interests and expose any wrongdoing will be accelerated now that the company has retained new local legal counsel. The excessive outstanding company debt is a priority matter, as well as the disputed outstanding share count.
Verity has been under attack by our majority shareholder through his tortuous interferences, fraudulent representations and blatant violation of a binding non-compete agreement. However, we are prepared to aggressively defend the company and eventually seek restitution for significant monetary damages.
I am happy to report that the company has settled with Mr. Howard Vlieger, a co-founder of Verity, and has dropped the company from his lawsuit. The litigation by Mr. Vlieger against Mr. Spader, has not been dropped.
I assure you that everything that can be done will be done to make sure you, the Verity Shareholder, will see Verity achieve its mission to provide the healthiest food possible to consumers.
As I have stated before, this is my life's work and I personally have my life savings in Verity.
I am in this with you.
Sincerely,
Verlyn Sneller
CEO
Day Dreaming is like Day Trading.
