Here you go Sir,
DAVID LIEBRADER, ESQ.
STATE BAR NO. 5048
THE LAW OFFICES OF DAVID LIEBRADER
3960 HOWARD HUGHES PARKWAY STE. 500
LAS VEGAS, NV 89169
PH: (702) 380-3131
Attorney for Plaintiff
DISTRICT COURT
CLARK COUNTY, NEVADA
IN THE MATTER BETWEEN
Craig Dougall and Pacific Blue Ventures, LLC
PLAINTIFFS
v.
Stephen H. Watkins, Paul Landrew, Entrex
Carbon Market, LLC, Entrex Echain, LLC,
Entrex, Inc., Universal Solar Technology, Inc.
and DOES 1-10 and ROE Corporations 1-10,
DEFENDANTS
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Case No. A-22-854790-C
Dept.: 21
FINDINGS OF FACT AND
DEFAULT JUDGMENT
DEFAULT JUDGMENT
Plaintiff Craig Dougall’s motion for default judgment against Defendants
Stephen H. Watkins, Paul Landrew, Entrex Carbon Market, LLC, Entrex Echain, LLC,
Entrex, Inc. and Universal Solar Technology, Inc. came on for hearing before the
Court on March 15, 2023, the Hon. Michael Cherry presiding. Appearing for Plaintiffs
was David Liebrader. Plaintiff Craig Dougall was also present, was sworn, and
testified. There were no other appearances.
The Court finds that Plaintiff has proven by a preponderance of the evidence that
in March, 2021, Plaintiff Craig Dougall was solicited by Defendant Stephen Watkins
Electronically Filed
03/27/2023 3:40 PM
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to participate in a real estate transaction involving Mr. Watkins’ company Entrex.
As part of the inducement to convince Plaintiff to invest, Mr. Watkins told
Plaintiff that Entrex had merged with publicly traded company, Universal Solar
Technology Inc. (“UNSS”), and that UNSS would issue Plaintiff $250,000 worth of
shares as part of a PIPE securities transaction, which Plaintiff was free to sell at any
time.
Mr. Watkins told Plaintiff that it would only take three or four days to issue the
UNSS shares. Based on the representations of a completed merger, and the promise
to issue shares as collateral for Plaintiff’s full $250,000 investment, Plaintiff agreed
to invest. The parties then completed all the necessary documentation to complete
the transaction.
On March 26, 2021 Plaintiff wired $250,000 to Entrex as directed by Mr.
Watkins. Unfortunately Defendants failed to issue the shares as promised.
In March, 2022 Entrex announced that the merger with UNSS had been
terminated. Plaintiff testified at the default judgment prove up hearing that the
primary reason that he invested was based on Mr. Watkins’ representation of a
completed Entrex-UNSS merger, which was false. After learning this, Plaintiff
contacted Defendants and demanded a return of his investment funds.
To date Defendants have refused to return Plaintiff’s funds.
UNSS is a Nevada corporation, and the UNSS PIPE transaction that Plaintiff
invested in involved the sale of securities. Because Plaintiff was induced to invest
based upon the materially false representation of a completed merger, Defendants
violated NRS §§90.570 and 90.660 by offering and selling the securities to Plaintiff.
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Pursuant to NRS §90.600 Defendants are liable, jointly and severally to Plaintiff
as sellers, control person and/or material aiders for the sale of securities based upon
material misrepresentations of fact.
Pursuant to NRS §90.660 Plaintiff is entitled to damages of $372,178; comprised
of his principal investment of $250,000, interest at the legal rate of $27,658, costs
necessarily incurred in the amount of $2,060, and attorney’s fees in the amount of
$92,460. The Court finds that in requesting attorney’s fees pursuant to NRS
§90.660, Plaintiff’s counsel has recited and met the Brunzell factors.
Wherefore it is hereby Ordered that Plaintiff Craig Dougall shall have judgment
against Defendants Stephen H. Watkins, Paul Landrew, Entrex Carbon Market, LLC,
Entrex Echain, LLC, Entrex, Inc., Universal Solar Technology, Inc. in the amount of
$372,178. The Judgment is joint and several, and shall accrue interest until paid in
full.
IT IS SO ORDERED
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Judge, District Court
