"Defendants [SAEAN] and each of them have authorized a series of misleading press-releases in South Korea regarding the Plaintiff [EMPM] and its' plans for merger with SAEAN KOREA and SAEAN NEVADA.
Defendants [SAEAN] and each of them have consistently misrepresented the value of their companies as close to $20 million USD when in fact they are worth no more than $200,000 USD, if anything at all."
If one adds up this lawsuit and all the chatter on the Korean board, they’d have to wonder if anything was ever real about this EV company. There may be other entities of Saean out there doing real business, but the name may have been hijacked altogether, and not just here in the OTC to run a scam.