And since privately held companies have no obligation to provide financials, perhaps it was all a heaven sent solution to avoid the calls for financials.
Very TRUE statement and was exactly HOW Hanna wanted to keep shareholders in the dark and run her SCAM on them. I would say it was working real GREAT for awhile.....but Lyric Culture suddenly " popping up " was NO ACCIDENT.....I smell a lawyer somewhere in that decision! Possibly one of Hubby's that is familiar with Bankruptcy Laws & Distribution of Assets in CA! Obviously Hanna was NOT smart enough to make these decisions on her OWN!!
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I think LYJN shareholders still want to see audited financials and learn how their investment dollars were spent. Exactly what were the revenues (from stock sales and operations); what were the expenses (including payroll and expenses for officers); and what were the assets and shareholder equity BEFORE they were liquidated and disbursed to only God knows who?
We ONLY witnessed a 3 year " pitiful showing " of numbers back in 2010 AFTER Hanna's little Caveat Emptor. Other than the additional 3 month quick look at more " pitiful numbers " the following spring, Hanna has OFFERED shareholders nothing EXCEPT a huge SCAM, basically from the inception of LYJN!
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All we know for sure is that any shareholder assets, liabilities and equity have been somehow transferred to private owners and, according to what LR seems to be implying, the public company LYJN has "become" the private company Lyric Culture.
According to the filings I read, the ASSETS were picked over by Lyric Cultures OWNERS at the time and they took only what they wanted, ie., the LICENSING and left over mdse., along with other RIGHTS. Their was NO TRANSFERR of anything as LR is suggesting.....it was BOUGHT AND PAID FOR in an attempt to collect money to pay off Hanna's CREDITORS that she STIFFED! A price was agreed upon by BOTH parties in the deal........PENNIES on the dollar I will bet.
LYJN is OUT OF BUSINESS along with Hanna. Any and all references to it should be REMOVED from print and ultimately will be. The catchy " video " on Lyric Cultures site, including reference to and pic's of Hanna should also be removed. Hanna has flatly stated she had NOTHING TO DO WITH the management/CEO/Owners according to her own PROVEN testimony and statements made during all of her bankruptcy proceedings!!! She may have started Lyric Culture as a spin off of LYJN but she still was CEO over it until she sold it.
Hanna may THINK it is business as usual under a different entity by flaunting her " reputation " in an attempt to DISTRIBUTE MERCHANDISE but once the Courts find out what she is up to, she WILL NOT like the end results. Perjury is still perjury with most legal systems as I recall. Wouldn't if be funny if the COURTS " attached " every cent from every piece of mdse. that Lyric Culture has sold by doing so SINCE the Bankruptcy filings???????
IMHO, once the MEDIA gets wind of Hanna's little FELONY and any CONVICTION that is passed down, even Lyric Culture may find out it is hard to " sell a FELON " and REMOVE her name and ANY references of Hanna from their line of clothing, etc.
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