Enzolytics Inc (ENZC)

[DOGONE]

ATTY LETTER OUT NOW.!!!!

https://backend.otcmarkets.com/otcapi/company/financial-report/267945/content

January 7, 2021
OTC Markets Group Inc.
300 Vesey Street, 12th Floor
New York, New York 10282
Re: Enzolytics Inc. (f/k/a Eco-Petroleum Solutions, Inc.), a Delaware corporation (the
“Company” or “Issuer”).
Subj.: Letter with Respect to Adequate Current Information for the Issuer: Annual
Reports for the Years Ended December 31, 2018 and 2019, along with its
Quarterly Reports for the Periods Ended March 31, 2020, June 30, 2020 and
September 30, 2020.
Dear Ladies and Gentlemen:
I write to provide the OTC Markets Group Inc. with an opinion with respect to the Company. OTC
Markets Group Inc. is entitled to rely on such opinion in determining whether to permit quotations in
the Issuer’s securities (the “Securities”) in the OTC Markets Group Inc. quotation venue and in deciding
whether the Issuer has made adequate current information publicly available within the meaning of
Rule 144(c)(2) under the Securities Act of 1933, as amended (the “Securities Act”).
I am a U.S. resident and I have been retained by the Issuer solely for the purpose of reviewing the
current information supplied by the Issuer. I do not own any shares of the Issuer’s securities and will
not receive any shares of the Issuer’s securities as payment for services rendered, currently or in the
future.
I have examined such corporate records, e.g. Articles of Incorporation, Bylaws, corporate minutes and
other documents and such questions of law as I have considered necessary or appropriate for purposes
of rendering this letter. I am authorized to practice law in the State of Ohio, including the laws of the
United States. I am permitted to practice before the Securities and Exchange Commission (the
“Commission”) and have not been prohibited from practice thereunder.
I am not currently and have not been in the preceding five (5) years, suspended or barred from
practicing in any state or jurisdiction, or charged in a civil or criminal case. I am not currently and have
not been in the preceding five (5) years, subject of an investigation, hearing, or proceeding by the
Commission, the U.S Commodity Futures Trading Commission (“CFTC”), the Financial Industry
Regulatory Authority (“FINRA”), or any other federal, state, or foreign regulatory agency.
On 11.5.2020, 12.8.2020, 12.15.2020, 1.6.2020 and 1.7.2020, the Issuer posted on the OTC Disclosure
and News Service its Annual Reports for the years ended December 31, 2018 and 2019, along with its
Page | 2
Quarterly Reports for the periods ended March 31, 2020, June 30, 2020 and September 30, 2020,
prepared in accordance with Rule 15c2-11(a)(5) promulgated under the Securities and Exchange Act of
1934 (the “Exchange Act”). I have reviewed all such documents (the “Information”) in connection with
the preparation of this letter and find them to be suitable for public disclosure.
It is my belief that the Information (i) constitutes “adequate current public information” concerning the
Securities and the Issuer and “is available” within the meaning of Rule 144(c)(2) under the Securities Act,
(ii) includes all of the information that a broker-dealer would be required to obtain from the Issuer to
publish a quotation for the Securities under Rule 15c2-11 under the Exchange Act, (iii) complies as to
form with the OTC Markets Group Inc. Guidelines for Providing Adequate Current Information, which
are located on the Internet at www.otcmarkets.com, and (iv) has been posted on the OTC Disclosure
and News Service.
The opinion and conclusions herein are based upon documentation and facts made available to me by
the Company and are based on the accuracy of those documents and facts. The documentation that
was provided to me was believed to be true and reliable in its contents. Below is the information posted
to the OTC Disclosure and News Service on 11.5.2020, 12.8.2020, 12.15.2020, 1.6.2020 and 1.7.2020
which I have reviewed in rendering this opinion:
1. Annual Reports years ended December 31, 2018 and 2019 and its Quarterly Reports for the
periods ended March 31, 2020, June 30, 2020 and September 30, 2020.
2. Balance Sheet as of December 31, 2018, December 31, 2019, March 31, 2020, June 30, 2020
and September 30, 2020 (unaudited).
3. Statement of Operations for years ended December 31, 2018 and 2019 and quarters ended
March 31, 2020, June 30, 2020 and September 30, 2020 (unaudited).
4. Statement of Stockholder’s Equity for the years ended December 31, 2018 and 2019 and
quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 (unaudited).
5. Statement of Cash Flows for the years ended December 31, 2018 and 2019 and quarters
ended March 31, 2020, June 30, 2020 and September 30, 2020 (unaudited).
6. Notes to Financial Statements (Unaudited).
I personally met with Charles S. Cotropia, CEO of the Issuer, to discuss and review the above
documentation. In the event that the facts and information in all such documents are determined not
to be true, this opinion shall be null and void.
The party responsible for preparation of the financial statements of the Issuer is:
Jona Barnes, E.A., Partner
Mallett & Barnes Tax Service
6136 Mission Gorge Road, Suite 125
San Diego, California 92120
Phone: [phone]
Fax: [phone]
Email: [e-mail]
Page | 3
The Transfer Agent for the Issuer is:
Nevada Agency and Transfer Company
50 West Liberty Street, Suite 880
Reno, Nevada 89501
Email: [e-mail]
Phone: [phone]
Fax: [phone]
Email: [e-mail]
The Transfer Agent is listed with the Commission and also has Depository Trust Corporation approval.
As of December 31, 2018, there were 817,748,470 shares of Common Stock issued and outstanding of
the Issuer. As of December 31, 2019, there were 1,066,020,359 shares of Common Stock issued and
outstanding of the Issuer. As of September 30, 2020, there were 2,438,670,097 shares of Common
Stock issued and outstanding of the Issuer. The Company’s Transfer Agent was the source of
confirmation of the common shares outstanding of the Issuer, via email on January 6, 2020.
To the best of counsel’s knowledge, after inquiry of management and the directors of the Issuer, neither
the Issuer, nor counsel or any 5% holder is currently under investigation by any federal or state
regulatory authority for any violation of federal or state securities law.
The Company was incorporated in the United Kingdom on July 24, 2004. The Company is a Pink Sheet
Issuer filing current, public information with OTC Markets Group Inc. electronic quotation venue;
however, the Company did not begin filing public information until January of 2008; therefore, it is
uncertain whether the Company was a “shell company” as defined in Rules 405 of the Securities Act of
1933 and 12b-2 of the Exchange Act of 1934 from inception until the time it began filing with the
Commission. The Company was a "Reporting Issuer" subject to the reporting requirements of Section
13 or 15(d) of the Exchange Act until it deregistered on November 8, 2011.
Since inception, the Company has amended its corporate name and business plan numerous times,
while also undergoing multiple changes in control. According to the Company’s corporate website,
www.enzolytics.com, and its public filings, the Company currently operates as a drug development
company committed to the commercialization of its proprietary proteins for the treatment of
debilitating infectious diseases.
Previously, The Company focused on the manufacturing and distribution of petroleum and related
products for industrial purposes. Specifically, the business of processing, blending, bottling and
distributing private label motor oil, transmission fluid, and related products for the automotive
aftermarket and other industries, such as, but not limited to, manufacturing and the power industry.
These products were sold, both direct and through distributors, to retail outlets, including oil change
shops, automotive aftermarket chains, gas stations, department stores and convenience stores.
In its Annual Report for the year ended December 31, 2018, the Company reported assets valued at
$5,613,423.00 and revenue of $5,000.00. In its Annual Report for the year ended December 31, 2019,
the Company reported assets valued at $5,598,408.00 and operating expenses of $662,371.00. Finally,
the Company appears to have an identified business plan and a management team in place. Therefore, I
conclude that the Company is not currently a “shell company.”
Page | 4
The OTC Markets Group Inc. is entitled to rely on the opinion set forth hereinabove when determining
whether to permit quotations in the Issuer’s Securities in the OTC Markets Group Inc. quotation venue
and the OTC Markets Group Inc. is hereby granted permission to post this letter on the OTC Disclosure
and News Service for viewing by the public and regulators. However, this letter and the opinions set
forth herein may not be quoted in whole or in part, relied upon by any other person or entity, filed with
any government agency or otherwise referred to or utilized for any other purpose, without, in each
instance, my prior written consent.
Respectfully submitted,
Morgan E. Petitti, Esq.