This is a straw man post.
I've been looking at the timing of past Medizone CEO Ed Marshall's destructive actions relative to the constructive ones of Medizone CEO David Esposito.
By destructively forcing Medizone into involuntary bankruptcy, when he had several positive choices available to him, Ed Marshall made the worst possible decision in choosing wanton corporate sabotage and the knowing, willful infliction of tens of millions of dollars of loss to shareholder net worth.
In 2017, Ed Marshall departed Medizone as a lackluster, 20 year, CEO. His accomplishments were: Using other people's money to create $40 Million in Medizone debt with little or nothing to show for it, peeling off millions of dollars of that borrowed money for undeserved salaries for himself and his wife Jill, and on the occasion of his stepping down as CEO, unconscionably milking Medizone for an additional $20,000 in monthly payments to no longer be there and additional CEO back pay for the years 2009 and prior. Ed filled every nook and cranny of Medizone's body with post company failure financial IED's. ED AND JILL MARSHALL KNEW OF THIS CONSEQUENCE TO MEDIZONE AND ITS SHAREHOLDERS.
One need not look far to see that Medizone was running cash on hand of around $200,000 per year. Simple arithmetic would reveal that the additional $20,000 monthly payments ($240,000) Ed obtained on his way out the door would force a barely treading water Medizone to go under.
ED AND JILL MARSHALL KNEW OF THIS CONSEQUENCE TO MEDIZONE AND ITS SHAREHOLDERS.
Before departing Medizone, Ed Marshall had to also know that he had preordained Medizone's failure by virtue of the added financial burden he had imposed upon it. Then like a vulture he circled over a diminished Medizone and when it declared $0 cash on hand, swooped in to force it into involuntary bankruptcy, aiming to get it for nothing and banking on the market value of its crown jewel heart, AsepticSure.
However, despite its near death condition, CEO Esposito was actively rescuing Medizone.
On Jan 31, 2018 (3 months before Ed Marshall involuntarily bankrupted Medizone), CEO Esposito engaged L2/SBI to fund Medizone for $285,000 (via resale of stocks) and he arranged for a $10,000,000,000 line of credit predicated on a May 30, 2018 shareholder meeting to, in part, authorize a 500M share increase. AS MEDIZONE SHAREHOLDERS AND FORMER EXECUTIVES, ED AND JILL MARSHALL WERE FULLY AWARE OF THIS MEDIZONE AND SHAREHOLDER POSITIVE ACTION.
On April 3,2018 (two weeks before Ed Marshall involuntarily bankrupted Medizone), Medizone filed an S-1 associated with L2/SBI authority to sell up to 22+ Million Medizone shares. It was amended on April 13, 2018. AS MEDIZONE SHAREHOLDERS AND FORMER EXECUTIVES, ED AND JILL MARSHALL WERE FULLY AWARE OF THIS MEDIZONE AND SHAREHOLDER POSITIVE ACTION.
On April 6, 2018, Medizone announced a May 30, 2018 shareholder meeting in Atlanta, that, in part, would seek shareholder authorization for an additional 500M shares to be used in conjunction with L2/SBI's $10 Million line of credit to Medizone. It was amended on April 17, 2018. AS MEDIZONE SHAREHOLDERS AND FORMER EXECUTIVES, ED AND JILL MARSHALL WERE FULLY AWARE OF THIS MEDIZONE AND SHAREHOLDER POSITIVE ACTION.
However, despite all of the Medizone preserving and growing actions taken by its CEO, David Esposito, in attempting to undo the deep damage caused by the Marshalls, on April 18, 2018, Ed and Jill Marshall willfully chose to involuntary bankrupt Medizone, the very company they nearly destroyed. They did so knowing full well that their actions would also inflict tens of millions of dollars in instantaneous losses to its shareholders.
Any monies that the Marshalls hope/hoped to gain from their involuntary bankruptcy action against Medizone pales in comparison to the intentional and massive losses the Marshalls knowingly caused to we shareholders.
I recommend that someone close to Medizone pass my straw man thoughts by them to determine their merit. Maybe they and/or other verbiage can be used as a base to plead for an asset sale delay or a Chapter 7 to Chapter 11 conversion. I recommend, too, that we discuss whether there is sufficient interest to put up monies in our quest for justice, should such possibility exist.
Does anybody know of a good lawyer who can evaluate our situation.
Finally, in my mind the only justice would be to dismiss both lawsuits and restore Medizone back to its configuration before the Marshall's destructive actions of April 18th. But then ……..
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