Nav, I agree. Assuming the defendants did not vo
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Posted On: 01/11/2018 2:55:05 PM
Re: Navin R. Johnson #759
Nav, I agree.
Assuming the defendants did not voluntarily agree to JBZY’s terms, to me the only "clean" option is for the parties involved to reach a price per share settlement and cancel the shares.
Based on the % return since those shares were allegedly illegally issued by the prior owners of DOLV, and the legal fees to be incurred by the defendants appearing before a federal judge in the near future, it seems the defendants would be inclined to accept a reduced settlement; lower than the current price per share.
According to public court documents from Pacer (Dolat Ventures, Inc. v. VStock Transfer LLC), the reason for the suit is that JBZY wants the shares cancelled and did not want them traded on the market. (Below is a snippet from the suit)
NATURE OF CLAIM
1. This Civil Action involves the ultra vires issuance of common stock in violation of the Wyoming Business Corporation Act, Wyoming Statute 17-16-621 which requires consideration for the issuance of common stock and specifies in Section 17-16-623 that shares may be issued for no consideration only when all members of the class are issued their shares pro rata. In this action, Plaintiff seeks temporary, preliminary and permanent injunctive relief, including the cancellation of the defectively issued shares, and for such other and further relief as the court may deem proper to assure that defendants do not sell illegally issued shares.
Lawsuits such as this can take a considerable amount of time, this case was filed 04-28-17. Based on remarks by company officials, paperwork filed with the State of Wyoming Secretary of State, OTC Markets, SEC and FINRA; as well as information uncovered from news articles, interviews, the company website (http://zjmy888.com/index_en.html#page1) and WeChat. JBZY is involved in the rapidly emerging industry of electronic vehicles (EV). JBZY holds multiple patents regarding 3rd generation battery technology and has manufactured and sold vehicles in China. JBZY will “publicly” launch when they are ready, but the dismissal of this lawsuit no doubt brings them one step closer.
I have a position in JBZY and have been consistently adding to it. For me this stock is a long-term hold.
Best of luck to all.
(Standard disclaimer: The above is my opinion and does not constitute investment advice. I encourage you to do your own research.)
Assuming the defendants did not voluntarily agree to JBZY’s terms, to me the only "clean" option is for the parties involved to reach a price per share settlement and cancel the shares.
Based on the % return since those shares were allegedly illegally issued by the prior owners of DOLV, and the legal fees to be incurred by the defendants appearing before a federal judge in the near future, it seems the defendants would be inclined to accept a reduced settlement; lower than the current price per share.
According to public court documents from Pacer (Dolat Ventures, Inc. v. VStock Transfer LLC), the reason for the suit is that JBZY wants the shares cancelled and did not want them traded on the market. (Below is a snippet from the suit)
NATURE OF CLAIM
1. This Civil Action involves the ultra vires issuance of common stock in violation of the Wyoming Business Corporation Act, Wyoming Statute 17-16-621 which requires consideration for the issuance of common stock and specifies in Section 17-16-623 that shares may be issued for no consideration only when all members of the class are issued their shares pro rata. In this action, Plaintiff seeks temporary, preliminary and permanent injunctive relief, including the cancellation of the defectively issued shares, and for such other and further relief as the court may deem proper to assure that defendants do not sell illegally issued shares.
Lawsuits such as this can take a considerable amount of time, this case was filed 04-28-17. Based on remarks by company officials, paperwork filed with the State of Wyoming Secretary of State, OTC Markets, SEC and FINRA; as well as information uncovered from news articles, interviews, the company website (http://zjmy888.com/index_en.html#page1) and WeChat. JBZY is involved in the rapidly emerging industry of electronic vehicles (EV). JBZY holds multiple patents regarding 3rd generation battery technology and has manufactured and sold vehicles in China. JBZY will “publicly” launch when they are ready, but the dismissal of this lawsuit no doubt brings them one step closer.
I have a position in JBZY and have been consistently adding to it. For me this stock is a long-term hold.
Best of luck to all.
(Standard disclaimer: The above is my opinion and does not constitute investment advice. I encourage you to do your own research.)
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