Bots Inc (BTZI)

[lesgetrich]

I was traveling yesterday and didn't have a chance to post.

I finally had a chance to read the filing. This whole lawsuit boils down to a contract dispute over $75,000 in back pay and a lot of hurt feelings involving Ron Sassano and his brother (and apparent attorney) Antony Santos. The stock fraud claim stems from charges that mCig promised them shares, kept them from selling the shares they received by claiming that they were restricted as insiders from selling them, and didn't deliver the last payment. They also claim that mCig falsely back dated a stock award, though the details of the underlying agreement are not disclosed in the filing and could be under dispute.

The suite makes a number of other accusations but offers very flimsy evidence to substantiate any of them. I wouldn't give Sassano much chance of winning this one unless mCig just decides to make it go away by settling out of court. Making the filing public was designed to put pressure on mCig to do just that. JMO