GRN Holding Corp (GRNF)

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2) CCSAC, Inc., a California corporation and CANN Distributors, Inc., a California corporation vs. Pacific Banking Corp., a Washington corporation, Justin Costello, an individual and GRN Funds, LLC, a Washington limited liability company. Case No. 20-cv-02102, filed in the U.S. District Court for the Northern District of California. This case involves claims of plaintiff CCSAC and CANN against Pacific Banking Corp. for breach of contract whereby Pacific Banking Corp. was obligated to (1) make certain tax payments on behalf of plaintiffs; (2) pay certain vendors; and, (3) make timely payroll payments. Plaintiff alleges that: (a) it transferred $2.8 million dollars to Pacific Banking Corp. for these purposes pursuant to contract; (b) Pacific Banking Corp. transferred the funds to GRN Funds, LLC; and (c) defendant Pacific Banking Corp. failed to make the necessary payments under contract, provide a reconciliation, or account for the funds. Defendant GRN Funds, LLC is the majority stockholder of the Company. Justin Costello, the Company’s officer and director is the manager of GRN Funds, LLC. Aside from breach of contract, plaintiffs seek damages for negligence, fraud, declaratory relief/indemnification and an injunction. Plaintiffs seek $2.8 million in compensatory damages. Plaintiffs also pray for punitive damages. Counsel for defendants filed motions to dismiss for lack of subject-matter and personal jurisdiction and for lack of adequate process. Given the early stages of litigation, with pending motions and without the defendants having formally appeared, we are unable to reasonably ascertain what amount of contingent liability, if any, may be attributable to GRN Funds, LLC or Mr. Costello as a result of this action





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Our non-binding letters of intent, and corresponding pending material definitive agreements with Pacific Banking Corp., Pacific Merchant Processing, Inc., Microcap Advisors, LLC, Soulshine CBD, Inc., One Source CBD and Sunshine Hemp, Inc. are related party transactions in that Mr. Justin Costello, our sole director, officer and manager of our majority shareholder, GRN Funds, LLC, is an affiliate, shareholder, owner or manager of each respective entity. The approximate dollar amount involved in each transaction, and Mr. Costello’s corresponding interests, are unknown as of the date of this filing, as each transaction is pending completion and execution of material definitive agreements.



https://www.otcmarkets.com/filing/html?id=14332361&guid=zil6UnvPm23Wsth



How could that info be unknown when they claim to already have a binding agreement BEFORE the date of that filing?

GRN Holding Corporation Executes Binding LOI With Microcap Advisors

SEATTLE, WA / ACCESSWIRE / July 31, 2020 / GRN Holding Corporation (OTC PINK:GRNF), the "Company", announced today that the Company has entered into a binding letter of intent to acquire Microcap Advisors, LLC. This announcement follows the completion of due diligence earlier this year and will help to define the terms of a mutual definitive agreement to finalize the acquisition.