Monday, August 18, 2014 1:21:28 PM
A major shareholder has spoken to company employees and they informed the shareholder that Mr. Ryan threatened them with prosecution in Federal Court if they return to the Company office in order to perform their daily tasks and duties.
During his tenure, Mr. Ryan and Mr. Nichols issued Board Members, Employees and insiders 5.1 million shares of Company stock.
Mr. Ryan mysteriously holds 9 million shares in a corporate name, yet Company filings do not mention how or from whom Mr. Ryan obtained these shares, and most importantly they don’t mention what price he paid for these shares. We have been informed by another shareholder that Mr. Ryan obtained these shares at a 98.5% discount.
Additionally, it has been discovered that there is an IRS notice for delinquent and unpaid payroll taxes in excess of $10,000.00 , during which time he taking a monthly salary totaling as of date over $33,000 and utilizing the Company’s accounts for reimbursement of expenses.
Mr. Ryan was appointed CEO because he represented he was going to be able to increase revenue, market cap and market liquidity while raising capital and the Company stock price. Mr. Ryan has done the opposite. The shareholders have clearly spoken with their decision to remove Mr. Ryan and Mr. Nichols from the Company. Mr. Ryan’s continuous detrimental actions exhibit a complete and utter disregard to the well-being of the Company and his fiduciary responsibility towards the shareholders.
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