Manzo Pharmaceuticals Inc. (MNZO)

[BSWB]

Interesting bit from a supplemental disclosure on 9/20/2016

Item 1: Completion of Disposition of Assets

On August 22, 2016, it was announced that Manzo Pharmaceuticals CEO Kenneth Manzo Milford, the Issuer's Chief Executive Officer resigned in connection with a settlement with the U.S. Securities and Exchange Commission (SEC). The SEC settlement bars Mr. Manzo from being an officer or director of the Issuer.

The Issuer was dependent upon the personal financial support of Mr. Manzo, who had never taken any salary. The Issuer cannot develop its business plan without the services and funding of Mr. Manzo. Therefore, the Issuer has conveyed Manzo Pharmaceuticals, LLC back to Mr. Manzo in exchange for all of Mr. Manzo's common stock in the Issuer, two hundred million shares. This transfer leaves the Issuer without operations or a material amount of assets.

At present, the Issuer intends to start to study ways to increase shareholder value. There is no assurance that the Issuer will be successful in this endeavor.

Item 2: Changes in Control of Issuer

In connection with Mr. Manzo's departure from the Issuer, Mr. Manzo sold his Preferred stock in the Issuer. The 4,000,000 shares of Series A Preferred Stock formerly owned by Mr. Manzo is now owned by Gerasimos Alexander Antonios Morfesis.

Item 3: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

The Issuer has accepted Mr. Manzo's resignation as an officer and director of the Issuer. The 4,000,000 shares of Manzo Pharmaceuticals, Inc. Series A Preferred Stock have been conveyed to Gerasimos Alexander Antonios Morfesis.

Mr. Morfesis' address is 385 Whitcomb Boulevard, Tarpon Springs, Florida 34689.

Mr.Morfesis is a real estate investor.

Arthur Smitherman, who had been the only remaining director of the Issuer, has been removed and Mr. Morfesis is now the sole director of the Issuer.

https://backend.otcmarkets.com/otcapi/company/financial-report/160529/content