I came across the New York County Supreme Court ca

I came across the New York County Supreme Court case: OWC Pharmaceutical Research Corp. - v. - Jeffrey Low et al , filed on August 10 and mentioned in the latest 10-Q.

https://iapps.courts.state.ny.us/nyscef/Docum...me%20Court

I have not fully read each of the documents but they are up to the minute! To me they prove that Ziv Turner is a fucking pig, not a surprise to many here, and that OWCP was justified in terminating him.

Essentially what the case is about is that OWCP, the Plaintiff, is seeking an injunction and temporary restraining order to prevent defendants ZIV TURNER (Defendant Turner) and JEFFREY LOW (Defendant Low) from selling shares of stock of OWCP that are not legally owned or possessed by Turner or Low.

Below is an excerpt from L. Lonergan's (OWCP's lawyer) Affirmation that summarizes more or less what the case is about:

Quote:

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11. Pursuant to the Turner-OWCP Loan Agreement, OWCP loaned Turner the sum of $105,224.00 in order to purchase shares of OWCP stock at the price of $.05 per share. OWCP agreed to enter into the Loan Agreement with and issue the shares of OWCP stock to Defendant Turner based solely upon the engagement and services to be provided by Defendant Turner under the Advisory Services Agreement and for no other reason.
12. The 2,104,480 shares of OWCP stock cannot be publicly traded unless and until (a) the SEC Rule 144 restrictive legend placed on the share certificate is removed by the transfer agent and (b) the shares have been fully-paid for by Turner. Further, Defendant Turner must have abided the terms and conditions of the Turner-OWCP Loan Agreement; in the event Defendant Turner committed a material breach of the terms and conditions of his Advisory Services Agreement, OWCP would accelerate the loan amount due and have recourse to the shares of OWCP stock.
13. As set forth in detail in Mr. Bignitz’s accompanying affidavit, Turner has failed to satisfy the terms and conditions of the Turner-OWCP Loan Agreement and has defaulted thereunder and, in addition, Turner materially breached the terms of his Service Agreement causing irreparable damages to OWCP.
14. Accordingly, Turner was obligated to turn over the 2,104,480 shares of OWCP stock in his possession to a receiver for sale to satisfy the Loan Amount.
15. However, instead of returning the 2,104,480 shares of OWCP stock to a receiver, as provided in the Loan Agreement, Turner instead gifted the subject shares to defendant Low for One Dollar ($1.00), as evidenced by the Transfer Instruction Form and canceled stock certificate dated June 2, 2017 (Exhibit D) for the purpose of defeating OWCP’s rights and remedies under the Loan Agreement and Service Agreement.
16. Low has now applied to VStock, the stock transfer agent used by OWCP, to have the SEC Rule 144 restrictive legend removed from the Stock Certificate evidencing the 2,104,480 shares and flood the trading market for OWCP’s shares of common stock by selling said shares that cost Low only $1.00, which shares should have been turned over to a receiver for responsible disposition based upon the terms of the Loan Agreement.
17. Attorney Matthew J. W. Stout, Esq. and John B. Lowy, Esq. have offered legal opinions supporting removal of the SEC Rule 144. Neither Attorney Stout’s letter of August 2, 2017 (Exhibit H) nor attorney Lowy’s letter of August 8, 2017 (Exhibit I) refer to defendant Turner’s default pursuant to the OWCP-Turner Loan Agreement.

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If you check the last document, #21, filed today, it looks like the parties have agreed to put a hold on the shares pending litigation, so it looks like OWCP will at the very least get it's loans repaid.