The Trustee's role appears narrow, limited to satisfying creditor claims by getting MZEI's assets off his table.
He seems unconcerned with shareholders or a broader sense of Right and Wrong, even though we collectively lost tens of millions of dollars on shares authorized by us and MZEI over the years.
Otherwise: The court would have dismissed Ed and Jill's Chapter 11 as bad faith exploitation of the bankruptcy law in light of the fact that theirs was a reckless and wanton act submitted AFTER good faith stabilization actions consisting of Medizone's already announced S-1 registration and an impending May 30, 2018 share authorization vote.
This would have financially stabilized Medizone long before Ed and Jill's forced Chapter 11 against MZEI could become effective.
Importantly, during their decades long tenures, Ed and Jill mismanaged Medizone, crippling it with millions of dollars in borrowed and bloated salaries, borrowed debt accumulating at some $2M per year, and producing no generated income.
In recursive, revolving door fashion, Ed and Jill paid themselves with monies borrowed from others and put that into their salary pocket. Then they turned around and become MZEI's largest creditors, transferring money from their salary pocket and placing it into their creditor pocket, all with the same borrowed salary money now turned into creditor money.
One can swallow their tail for just so long.
Ed and Jill Marshall ejected Medizone at the cusp of swallowing themselves whole, by turning it over to CEO Esposito. Then, a short time later, as nouveau creditors, Ed and Jill turned around and lethally bit the hand of CEO Esposito, who was on the cusp of turning Ed and Jill's disastrous tenure of Medizone into a success.
We all got poisoned by that same venomous bite.
Ed and Jill Marshall are shareholders who were entitled to vote, as would have we, on May 30, 2018. They were also able to use this forum to voice their shareholder views and concerns at any time.
They chose neither.
Instead, they conspired with others and used their "creditors using someone else's money" status to file a Chapter 11 forced bankruptcy against their own Medizone, that they headed for two or so decades. Theirs was nothing but a calculated act designed to scuttle MZEI and cut out our shareholder tongues for personal gain.
Anybody who believes our shareholder interests were in Ed and Jill's hearts is deluded.
Otherwise, they would have never chosen the myopic, conscienceless and lethal path that they chose. Because of Ed and Jill's actions, we will never recover our tens of millions of dollars in collective loses.
A part of me feels that Ed and Jill believed that their forced Chapter 11 would have been the end of this and they would have walked off into the sunset. Au contraire, they seemed surprised, shocked and unprepared for Medizone's Chapter 7 response, that turned the tables on them. They will now bear the burden of delivering every step of the way in order to survive. Sadly, we will not be beneficiaries.
I remain perplexed by a nagging question.
Why did CEO Esposito, knowing that the S-1 mandated a "No Bankruptcy" clause, issue a 10Q with $0 in the bank, thus leaving his flanks vulnerable to attack? Did Ed Marshall et al lull and double-cross him?
Finally, there has been utter silence from Medizone. Do we know what is in their plans? How can we shareholders help?
