Xsovt Brands Inc (XSVT)

[EdF]

Took a quick peek at the filing and two things were notable:

-The revenue numbers are looking increasingly weak.

-Chucky's nonsense apparently has caught up to him. From section 7.A.

On September 16, 2021, Charles Scott, Chairman, CEO and majority control shareholder of Xsovt Brands, Inc., was named along with seven other individuals in a criminal indictment filed in the U.S. District Court for the Northern District of Ohio. The indictment arose from alleged securities fraud involving a company in which Mr. Scott was a minority investor (unrelated to XSVT or the CareClix Companies). Mr. Scott denies the allegations of the indictment, which he believes to be unfounded and which he is currently contesting in the district court through his attorneys. Mr. Scott was and remains an independent private investor in that company, has never been an officer, director, principal or controlling shareholder and, to date, has suffered a significant loss on his investment in the company’s securities.

The company in question is OTCMKTS: USLG

https://app.ediscoveryassistant.com/case_law/45565-u-s-v-spivak

In the forty-seven count superseding indictment, the United States charges Paul Spivak, his wife Olga Smirnova, and others with conspiracy to commit securities fraud and wire fraud in a pump-and-dump scheme through US Lighting Group, Inc., a publicly traded company. (See generally ECF No. 33, ¶¶ 14–28, PageID #286–88.) During the times at issue, Mr. Spivak served as the chief executive officer of US Lighting Group, and Ms. Smirnova as its vice president. (Id., ¶¶ 10 & 14, PageID #283 & #286.)