Lawsuit.
Such a lawsuit is never good for shareholders as it could actually shut down the Company.
Breaking down what it says:
Now look at the difference. Based on the report to the OTC they report on September 30, 2014 the 4.1 Mio issued and outstanding (that fits) but the float they never adjusted. There the last report is 1.032 Billion however based on the Lawsuit the Float is 2.8 Billion, this is a difference of 1.8 Billion shares. As on September 2014 they issued 400 Mio shares then we would add this to the Float from 1.032 Billion plus 400 Mio = 1.432 Billion versus the 2.8 Billion which gives exactly a difference of 1.4 billion.
Somebody want's to tell me, that a Float increase of 1.4 Billion was not seen. I mean a Company has a NOVO list and a Company has Access to the DTC list, which clearly shows what is going on.
And then the Transfer Agent: Based on the law suit: if 1.4 Billion too many Shares are in circulation the outstanding would then be 5.5 Billion but this would exceed the authorized. Why on earth should a TA then legitimate the issuance of those Shares and why did the Company not react when a DTC list showed a divergence between what should be and what should not be.
It happend before with a Company called Spongetech and this was the end. The SEC put out a Wells Notice and Sponge stopped trading for a while. When the mess then became obious, the stock actually left the Party at Zero.
Please Keep in mind, in some of my later Posts when I converted from a Bull to a Baer I mentioned that the Shares-Count is not accurate, that something is not right and I mentioned as well, that MYEC actually has nothing, because the patent is owned by Ed Starrs. If this get's messy, MYEC will be gone and Ed Starr will start new because he owns the patent.
Just Keep all this in mind.
AI
