From the PR below from August 25, 2016, more concerning to me than the PR from April is the FACT that Ahmad Arfaania must have a lot of stock in BHGI to have new lock-up / leakout agreements.... this is the same person you can Google and find hundreds of complaints, articles, etc., about his company Collective Wealth Properties, fraud and Ponzi schemes. Under what basis did BHGI and its insiders give such a nefarious person so much stock????
As for the Mikkin settlement, why on earth would the Mikkin's even need a lockup / leakout agreement when he claimed he paid for those shares over 2 years ago. I suspect that to settle that lawsuit, in addition to the 10,000,000 shares they claim to have, they must have been offered even more.
The lawsuits should never have prevented BHGI from continuing its purported growth.
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BEVERLY HILLS, CA / ACCESSWIRE / August 25, 2016 / Beverly Hills Group Inc. (OTCPK: BHGI) is pleased to announce the Mikkin's have withdrawn all claims against the company and all defendants, in their entirety, and have signed new lock-up / leak-out agreements restricting the sale of their shares of company stock.
These critical events, in addition to BHGI's earlier settlement and new lock-up / leak-out agreements with Ahmad Arfaania et al, will now free the company from these legal encumbrances. The new lock-up / leak-out agreements also provides an important safeguard for shareholders.
BHGI can now proceed as planned with the financing and corporate actions necessary to complete the acquisitions of the businesses and assets from Grupo Richard, and will be focusing on developing the company's diverse business opportunities.
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