Asked ChatGTP to summarize :
Based on the provided shareholder update, there are several concerns that a common shareholder of Altavoz Entertainment Inc. may be worried about. Here are five bullet points summarizing those concerns:
Legal issues and leadership changes: Altavoz Entertainment Inc. and its subsidiary Nurish.Me LLC faced garnishments on their bank account and lawsuits, which consumed free cash and required payments for lawyers and settlements. In addition, the company experienced significant changes in leadership in 2022, including resignations of the subsidiary's CEO and Chief Formulation Officer, as well as board members.
Special shareholder meeting and accusations: A shareholder with an interest greater than 10% requested a special shareholder meeting, where a motion was put forward to elect David Perez to the board but failed to get enough votes. During the meeting, David Perez accused two other directors of wrongdoing, which led to an internal investigation that found no evidence of any wrongdoing by them. The investigation, however, revealed that Perez gave away more than one million dollars of retail value of products without any revenue opportunities.
Misleading actions by David Perez: David Perez misrepresented himself as being linked to the company after his official address was removed from him when he stepped down as Chairman and CEO in September 2021. He also set up a domain separate from the company's official website and used an email address to represent himself, causing confusion among several parties. Moreover, he accessed company assets without any written or verbal management approval, resulting in an outstanding account with Nurish.me LLC.
Limited access to cash and poor performance: Altavoz Entertainment Inc. faced limited access to cash, and its engagement with InSocial, a social media company, delivered less than optimum outcomes for Nurish.me. As a result, the InSocial contract was terminated, and a subsequent opportunity to merge with another company in December 2022 did not materialize.
Product issues and concerns raised in reverse merger: The company faced challenges with some of its products expiring this month, and new liquid CoreCumin production would only commence in early March. In addition, the company is investigating concerns raised by persons involved in the reverse merger between Altavoz Entertainment Inc. and Nurish.me LLC in relation to the finalization of the merger deal.
Overall, the update suggests that the company is facing several challenges, including legal issues, leadership changes, poor performance, limited access to cash, and product issues. Common shareholders may be worried about these concerns and the company's ability to overcome them.
