[tigerpac]

JP Carey (Canouse) and Third Bench reached a settlement in the Rees loan dispute before the case went to trial. All parties agreed to let go of all accusations, claims, and potential counterclaims. It hasn't been disclosed as to how they are settling other than they just don't want to do it in front of a judge.

[bri123]

A press release would be great....

[tigerpac]

You can go back to my post #83842 to read one of many posts about David Rees.

[tigerpac]

If you remember that lawsuit filed by Travis Sherwood of Las Cruces Caninets (a subsidiary of Sher-wood), he claimed that Third Bench breached its contract with him by failing to pay him commissions on sales he had completed and also claimed the company failed to fulfill some customer orders.
His complaint accuse Third Bench and two of its officiers of fraud, claiming owners David Fair and David Rees have operated the business without adequate capitalization "for their personal benefit and profit" asking the courts to set aside the protections of LLC's and hold the two personally liable.
Sherwood also seeking unspecified punitive and statutory damages.
The complaint alludes to an allegation by the company that Sherwood wrongfully competed with Third Bench, denying that claim and stating that he began to work for a competing business only after Third Bench failed to deliver on orders he had sold.

[tigerpac]

Separately, this is the PR on the settlement of an EEOC retaliation lawsuit filed against Third Bench.
https://www.eeoc.gov/newsroom/third-bench-holdings-pay-165000-eeoc-retaliation-lawsuit

[tigerpac]

You had to know that Fair's "partnership" with David Rees was going to come back and bite him.
Rees apparently secured a $1.5 million loan by concealing his prior securities conviction and his connection to the recipient company, Third Bench.
David Rees acted as the introducing party, but he, his girlfriend Melissa Handley, and business affiliate David Fair shielded Reeds criminal record and involvement in Third Bench, plaintiffs JP Carey and Trillium Partners told the US District Court for the District of New Mexico.   Third Bench has since defaulted on its loan payment.
=======
I googled Rees (and his law firm based on company address) right away right as it became Third Bench was involved and his convictions came up. Granted Canouse and whomever the lender was were probably doing due diligence six month prior.  IF Fair and Handley didn't disclose Rees when making application, then I can see a big issue, especially if it Rees that received the money and is now unable to pay back.

[PhantomCitadel80]

Does anyone have the actual pdf? Would enjoy some light reading

[bri123]

Wow! About damn time.

[Helix2]

https://www.pacermonitor.com/public/case/57053761/JP_Carey_Limited_Partners_LP_et_al_v_Rees_et_al

[PennyMillions852]

Wow, this POS still trading?? Ongoing shitfest!!!

[bri123]

Need a freakin press release here! Damn.

[GoonOfWallSt]

What a scam junk garbage pos stock… when will it be delisted?

[na na]

I found another Canouse stock $GRLF

[na na]

I'm out. Lost a bit. I notice they gave themselves more dillutive notes.

I also noticed the CEO isn't much of a chatter box after they obtained the official shell status, so it was another thing that felt off.

[tigerpac]

Fair stuffed Canouse by converting all his Series B Preferred Shares to 359 million common shares.
Of course, new management claims this is not legal and the company is considering suing Fair.
With this overhang, the stock isn't  going anywhere until that issue gets resolved.
Fully diluted share count , if all preferred's and current convertibles converted is over 10 billion shares. Could go much higher if they wanted to converted AP.

[StockSlayer33]

Quarterly Report hit OTCM.

[PennyMillions852]

💩💩💩💩🤮🤮🤮🤮🤮

[tigerpac]

The Series A preferred shares that Bianco holds are worthless and meaningless. Just ask Fair.

[bri123]

That would be great. Still need a OTC press release to let us know what he is trying to do with the company though.

[na na]

[na na]

[tigerpac]

Series C and Series D convertible note stock dividends are set to be awarded on Mar. 31.
Expect a big slug of shares to hit the market after 3/31.

[bri123]

I try not to be too optimistic with this one.

[StockSlayer33]

I would love to see $0.0050 on the ask and I'd be a happy camper!

[na na]

Half as of what it use to be.

[bri123]

A lot of 2's on the ask today.

[bri123]

$0.0035 or higher would be great!

[na na]

So what price do you guys want to see it get up to?

[na na]

Once again at 0.0004

[na na]

Once again they raise it to 0.0004.

[na na]

Light at the end of tunnel?

The market makers are moving up to 0.0004 pre market.

[na na]

[bri123]

Eat those yummy 1's! OTCN hasn't been on the L2 in a couple of days, so that is good.

[GoonOfWallSt]

When will this junk pos scam be delisted and revoked?

[bri123]

Yep. Still crap.

[PennyMillions852]

Still a shitshow I see….

[pennystock_es]

demand 10 million to 1, so it starts..

[bri123]

Lets hope some of the money coming out of big boards comes back into OTCs.

[na na]

[bri123]

Neat. A real press release on OTC would be great.

[na na]

[bri123]

And then reverse split again. And I get screwed again. Wonderful.

[na na]

Reverse merger!

[na na]

[PennyMillions852]

Pretty sad man, I was unfortunately reminded of this disaster when I was just doing my taxes and saw what I lost here, yet you can only write off 1500 in capital gain tax losses per year…..

[bri123]

Sadly, No.

[PennyMillions852]

These guys in jail yet??

[PennyMillions852]

SEC will dig into these CLOWNS!!!

[bri123]

Total crap. Can't even put out a press release to explain why they suck.

[PennyMillions852]

NO BID shitfest yet again! Same crappy scam management!!