Replies to post #23827 on Ozop Energy Solutions Inc (OZSC)

[uber darthium]

And then came the Securities Fraud lawsuit .... CONway style !! ITEM 3. LEGAL PROCEEDINGS.

On March 4, 2021 a Complaint and Demand for Jury Trial (the “Complaint”) was filed by a plaintiff (the “Plaintiff”) in the United States District Court for the Southern District of New York. The Complaint named Ozop Energy Solutions, Inc. (“OZOP”) and Brian Conway, Ozop’s Chief Executive Officer, (the “CEO”). OZOP and the CEO are collectively referred to herein as “Defendants”. The Complaint alleges that the Plaintiff’s purchase and sale of OZOP’s securities, and damages caused by OZOP and its CEO, were violations of federal and state securities law and common laws. This securities fraud complaint is based on two (2) press releases issued by OZOP: the first dated January 12, 2021, which the complainant alleges contained materially false and misleading information about the execution of a Master Supply Agreement, and the second dated February 5, 2021, that retracted the press release it issued on January 12, 2021. In reliance on OZOP’s January 12, 2021 press release (which was retracted and corrected by OZOP’s February 5, 2021 press release), on the same date, Plaintiff sold all of his 4,370,180 OZOP shares on the public market. The Plaintiff alleges that the February 5, 2021 corrective press release (which retracted the January 12, 2021 press release and corrected the material misrepresentations provided therein) caused a dramatic increase in the price of OZOP’s shares, significantly in excess of the price at which Plaintiff sold his OZOP shares on January 12, 2021 (in reliance on the January 12, 2021 press release), causing Plaintiff to suffer significant losses, in excess of two Million Dollars, as a direct and proximate result of Defendants’ material misrepresentations. The Company disputes the allegations in the Complaint has engaged counsel to vigorously defend the Company and the CEO.

On November 12, 2020, a former employee of PCTI filed a Charge of Discrimination against PCTI, for wrongful discharge based on sex and retaliation with the Equal Employment Opportunity Commission (“EEOC”) and the Pennsylvania Human Relations Commission for events occurring on or before June 3, 2020. The matter is currently under investigation with the EEOC

OZSCAM

CONway SCAM

[uber darthium]

And then came all that research and development cost for all those new products, the R&D for the India deal etc.


Research and Development

Costs and expenses that can be clearly identified as research and development are charged to expense as incurred. For the years ended December 31, 2020, and 2019, the Company did not record any research and development expenses.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1679817/000149315221008931/form10-k.htm

PROFITS ANYONE ??? You know, like making money ???

Revenue $ 1,411,432
Cost of goods sold 1,404,358
Gross profit (loss) 7,074

Gross profit $7,074 on $1,411,432 or less than 1/2 of 1%

THIS SCAM IS TOAST

CONway did pay himself about $4.5 million last year, and paid Catherine Chis $83,500 for all her “talents” as President


OZSCAM

CONway SCAM