Monday, November 23, 2015 6:44:00 PM
Prior to the name and Director/Officer changes, Peter Villiotis controlled the company via super-voting preferred shares which were supposedly transferred to Joel Bredow and are now supposedly in an escrow account held by an undisclosed third party. Shareholders have a right to know who holds the shares in escrow. The escrow holder is likely an attorney and could be Melissa Rice.
Being that all of the directors and officers have supposedly resigned, the corporation is now at risk of being hijacked although anyone who tried to do that given that it is now known that the company has been under investigation by the SEC.
If there is one diretor who hasn't formally resigned, he could engage legal counsel on behalf of the company to represent the common shareholders going forward. Unfortunately the company likely has no money to pay an attorney.
Shareholders with a sufficient voting block could potentially petition the NV SOS to take over the corporation, but it is so tainted that such an effort would likely not result in a return on additional investment.
Given the seriousness of the situation, I would be surprised it it does not end up with a 10-day suspension and relegation to the grey market. Sometimes that takes a long time but the resignations and allegations made by the departing BOD could cause them to move quicker.
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