Enzolytics Inc (ENZC)

[Valuator2]

I asked the same question when I found a similar name in a subsequent event footnote (Page FS-8) in Notes "For the Periods Ending June 30, 2023 and 2022" attached behind the September 2023 fins attached to the ENZC 3Q Report. I couldn't find anything on him at the time, but now it appears his name may be Felizian Paul, and I did find something on a person with that name, but it appears to be old info. Thanks to Natty White's post, the IMMB 10K he referenced shows that Paul was a director, and his wife Alie Chang was CEO, of a company back in 2008 that merged with IMMB. International Technology Systems, Inc, which ties to the info on Paul in the link below. They both resigned from ITSI with the merger. Don't know why he's in ENZC now, but the old link indicates he has (or had at the time) Chinese connections. FWIW, decide the value, if any, of this information for yourself. I have no opinion at this point.
http://www.walkersresearch.com/profilePages/Show_Executive_Title/Executiveprofile/F/Felizian__Paul_100001732.html

It is peculiar that only Harry's Trust's 7,200,000 Preferred A's are recognized in the insiders' share disclosure in the 2023 Annual Report, but he is clearly mentioned in the Supplement filed.
https://www.otcmarkets.com/otcapi/company/financial-report/398927/content
https://www.otcmarkets.com/otcapi/company/financial-report/387028/content

On September 15, 2023, Enzolytics, Inc. executed and closed the Business Combination Agreement with
Sagaliam Acquisition Corp. (NASDAQ: SAGA) for the sale of the Company’s two operating subsidiaries
Virogentics, Inc. (“VIRO”) and Biogenysis, Inc. (“BGEN”) in a stock purchase transaction valued at $450
million paid in the form or 45 million shares of SAGA. The agreement also provides for a monthly
Administration fee of $30,000.00 for use in regulatory filings and legal matters. As part of the business
combination of Bioclonetics, Inc. and Enzolytics, Inc., the controlling shareholders of Enzolytics, Charles
Cotropia, Joseph Cotropia, Dr. Gurav Chandra and Zhabiov Trust, surrendered 46,800,000 shares of their
combined Series A Preferred Stock (11,700,000 shares each), which represented Enzolytics control block, to
facilitate the SAGA transaction resulting in a change in the majority ownership control in Enzolytics. The
former controlling shareholders retained their officer’s and board member positions. An amendment to the
designation of the Series A Preferred was also approved by the Board as part of the SAGA transaction where
the remaining 13,200,000 Series Preferred shares will be eligible for conversion at a rate of 10 Common
Shares for 1 Series A Preferred share once the designation has been filed and approved by the Delaware
Secretary of State. The current holders and controlling shareholders of Enzolytics, Inc are Zhabilov Trust,
owner of 7,200,000 Series A Preferred shares, and Phil Phelizian, owner of 6,000,000 Series A Preferred
shares. The intention of Enzoytics board is to dividend the SAGA shares received in payment for the operating
subsidiaries to the holders of the equity on a fully diluted basis once the dividend has been approved by the
regulatory authorities. Enzolytics is also anticipating implementing a new business strategy which may include
the acquisition of vetted targets.