I wanted to take a moment to address my resignation from PAOG, and the countless rumors surrounding my abrupt departure.
I was led to believe that I was the CEO of PAO GROUP INC based on documents that I and my executive team executed in February 2019. I have been operating with full transparency to the shareholders and never waivered from my intention to bring Cannophen products to market through PAOG. I have done so at significant out-of-pocket expense, with no funding from PAOG, and also invested my own funds into financing the controlling block of PAOG. That original contract was never fully executed by (existing or previous) PAOG executives, who pocketed my money, and no shares have ever vested for myself or my private company, HIGH END Products.
When rumors of a merger were brought to my attention on Monday 9/9, I immediately addressed the matter internally with my board, as well as Art Hall and James DiPrima (CFO). I conducted my own due diligence through the Nevada Secretary of State, and noticed at the bottom of Jim DiPrima’s “Forged or Fraudulent Filing Complaint” was a listing of “FILING HISTORY DETAILS”, which not only displayed the fraudulent “Articles of Merger” (filed Saturday 9/7; effective Monday 9/9), but noticed a suspicious “Amendment After Issuance of Stock” (filed Thursday 9/5; effective Friday 9/6). Upon further investigation, I discovered that this Amendment had been filed which amended the Articles of Incorporation and authorized 1,500,000,000 shares of PAOG Common Stock (Par $.001), which was allegedly voted on by a majority of PAOG shareholders (56%), and filed by James DiPrima. I and my board of directors were completely unaware of this filing, and upon our due diligence with the Nevada Secretary of State, I discovered that we are NOT the listed and active board members of PAO GROUP INC. We have never been in control of this company, but were falsely led to believe that we were the Officers and Board of Directors of PAOG. We resigned publicly for the sake of the shareholders.
I contacted the SEC myself prior to the open of market on Tuesday, 9/10, in an effort to minimize/mitigate damage to PAOG shareholders and potential investors. I also submitted a complaint to the SEC Office of the Whistleblower myself on 9/10, informing the SEC that I would be tendering my resignation effective immediately. Which I did.
I understand everyone’s frustration – believe me, I lost a great deal of my own personal finances. But I recommend that everyone conduct their own Due Diligence prior to making false accusations, committing slander/libel against myself, my board of directors, and my privately held company. We are also seeking legal damages from PAOG.