Blueone Tech Inc (BCRD)

[Slojab]

I see Sherry finally got off her ass and did something.

I like it!

On January 30, 2015, the board of directors of TBSS held a directors meeting at which the board, among other things, rescinded the issuance of 40,000,000 shares of the Company’s common stock previously issued to Todd Spinelli in October of 2011. The board based such rescission of the lack of consideration given by Mr. Spinelli for such shares. At the January 30, 2015 meeting the board also authorized officers TBSS to obtain legal counsel and pursue legal action against Mr. Spinelli.

Lawsuit against former officer and director.

On March 3, 2015, TBSS International filed a complaint in the District Court in the County of Clark, State of Nevada against its former president, CEO and director, Todd Spinelli. In that complaint TBSS alleges breaches of fiduciary duties, breaches of contracts, fraud and unjust enrichment against Mr. Spinelli. In additional to seeking damages, the complaint prays for declaratory relief which would rescind various loans and other transactions Mr. Spinelli claims to have made with, or on behalf of, TBSS and seeks judicial rescission of the issuance of 40,000,000 shares of TBSS common stock previously issued to Mr. Spinelli.