I think the court smelled a rat when they looked at the 8K and the "share agreement".
I think the court also wondered how this could be a "good deal" for Exobox when the company had so very little to gain while "10 un named persons" were being issued 120 billion pre split shares.
Why issue 40 billion pre split shares for debt?
At the time of the announcement of this "good deal" Exobox could not have more than $3 million of debt unless the jack had really piled on the debt somehow by making "deals" which he never disclosed to the shareholders.
The "highly profitable" CBG had never reported a profit and all of their Edgar reports are losses, which seem to be growing instead of approaching a profit.
At the time of the announcement of this "good deal" for Exobox it was trading around 0.0012.
If you multiply that share price by 40 billion shares of pre split the dollars that were to be issued to settle debt was $48 million.
Where did the extra $45 million of debt come from?
Then double that amount of shares were to be issued to these chosen ones for an additional $96 million.
That is a total of $144 million in stock issued to the chosen ones while Exobox gets taken off the market and the shareholders loose all of their investment.
This story did not sit well with the judge in Texas who had no problem issuing a Temporary restraining order to shut this "good deal" down.
Now when you have about $8000 in "damages" and you go into Federal court with a poorly written "expert report" and claim you have over $800,000 in damages, that my friends is the very definition of a frivolous lawsuit.
The shareholders can and should sue everyone involved in the frivolous lawsuit starting with the people who colluded to file this sham, to the law firm that filed it and the "expert witness" who ginned up a bogus report.
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