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Sunday, April 21, 2024 12:15:28 AM
So I presume then you prefer I don't bring up the OTHER ticker that signed a LOI to acquire Park's SOLUTIONS GROUP LLC on 8/6/2020 ---4 months after he incorporated it (4/9/2020). Nor the fact that 20 days later (8/26/2020) they made him "Chief Financial Officer and Treasurer (Principal Financial Officer and Principal Accounting Officer/Chairman)" and that he signed official SEC documents as such. Nor that they reported selling 500,000 their "N95" face masks in November 2020 to a "state agency buyer" and "received another 1,900,000 N95 masks." Then in December 2020, they reported the "cancelled the balance of the remaining 1,400,000 N95 mask, on the P.O. for 1,900,000 N95 mask order due to issues related to product reliability and potential counterfeit masks being substituted for original issue mask.
Despite all this the public company that reportedly "acquired" Park's "PPE SOLUTIONS GROUP LLC" and making him a senior officer --it seems Park and his co-founder were sued separately by 3M on 5/21/2021 and supposedly settled 6/27/2022.
Yet in the SPZI 2023 annual report Park states--.
7) Legal/Disciplinary History
Identify whether any of the persons or entities listed above in Section 6 have, in the past 10 years:
3. Been the subject of a finding, disciplinary order or judgment by a court of competent jurisdiction (in a civil action), the Securities and state securities or commodities law, or a foreign regulatory body or court, which finding or judgment has not been reversed, suspended, or vacated;
None
4. Named as a defendant or a respondent in a regulatory complaint or proceeding that could result in a “yes” answer to part 3 above; or
None
https://www.otcmarkets.com/otcapi/company/financial-report/395898/content
Complaint: https://dockets.justia.com/docket/new-york/nysdce/1:2021cv04576/560751
Settlement: https://casetext.com/case/3m-co-v-ppe-sols-grp-2
BTW--the ticker that acquired Park's PPE business is apparently defunct. Could it be because of this???--
Renavotio Announces Settlement and $2.2 million Investment ...
As part of the settlement, Renvotio exchanged Series D Preferred shares issued at $2.2 million for a 50% ownership in Harrowdale Ltd., which entity was formed as a partnership (the “Partnership”) for the purpose of expanding our Personal Protection Equipment and other targeted market opportunities on a global basis. As part of the agreement, RIII has assigned its $1.2 million dollar Judgment against the supplier for the counterfeit masks; upon collection of that judgment, if ever, the proceeds from such judgment will be used to reduce debt and provide operating capital for the Partnership.....
https://www.globenewswire.com/news-release/2021/10/12/2312552/0/en/Renavotio-Announces-Settlement-and-2-2-million-Investment-in-Market-opportunity-Partnership.html
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