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MEXP 1 Million Restricted Shares Sold Short - in 8K Read Below:
ITEM 8.01. OTHER EVENTS.
Marine Exploration has become involved in case 2008cv1278 filed in Denver
District Court involving CLX&Associates (www.clxonline.com), and Robert
Weidenbaum seeking damages regarding restricted securities sold in the market
without complying with required registration and hold provisions for restricted
securities.
Marine and its transfer agent have received threatening faxes, alleging, among
other things, that an individual or group would initiate a 250,000-piece fax
blast, defaming Marine and Marine's Transfer Agent, making outlandish price
projections and encouraging the public to complain to regulatory bodies if the
shares subject to the complaint were not transferred without restrictive legend
immediately.
It is estimated by Marine Exploration Inc. that Weidenbaum and group have sold
in excess of 1,000,000 restricted shares in the open market. Marine Exploration
further confirms that this number exceeds the public float which is estimated at
278,425 shares.