Well here is the other shoe I was waiting on to drop.....
Posted by: ollie54 Date: Friday, July 24, 2009 8:15:24 PM
In reply to: dcervan123 who wrote msg# 5876 Post # of 5882
NOT SO GREAT WITH THIS NEWS
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Natural Harmony Foods Announces Material Changes to the Company
Jul 24, 2009 17:37:49 (ET)
FORT LAUDERDALE, FL, Jul 24, 2009 (MARKETWIRE via COMTEX) -- Natural Harmony Foods, Inc. (PINKSHEETS: NHYF) announced today material changes to the Board of Directors and Management of the Company.
Effectively immediately, Daniel A. Carr has resigned from the position of Director and the "interim" CEO and President of the Company, and Danny Pate from the position of Director, respectively. Both parties cited their decision was based due in part to the lack of "full" disclosure by the former President and CEO, Sam Dewar with regards to the Company's overall financial condition and outstanding liabilities, including, but, not limited to, certain legal actions against the Company and other personal reasons.
Since the resignation of Sam Dewar, it was further disclosed by Mr. Dewar that the Company is also a named Defendant in a $50,000 lawsuit and that a previous judgment for approximately $17,000, was adjusted to approximately $34,000, due to defaults on settlement payments. These additional financial obligations of the Company now brings the total liabilities of the Company to approximately $400,000, and could be more with other obligations that have yet to be disclosed or brought to the attention of the Company. In light of these circumstances, it is uncertain at this time if the Company will be able to continue to operate.
Manual Schapiro, the Company's sole Director, will oversee the continual operations of the Company
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