ADHC Sues to Seek Cancellation of over 320 Million Shares
Del Mar, California--(Newsfile Corp. - January 10, 2022) - Universal Wellness Holding Corp (OTC Pink: ADHC) fka American Diversified Holdings Corporation ("ADHC") announced today that the company has filed an amended complaint adding more allegations against Tourist Cruise and its CEO Xavier Massana aka (Xavier Joan Massana I Modrono) CEO Ace Capital, Sergio Bellosta Suarez, CEO of Promocional Networks and CEO of Indo Global Exchanges ("IGEX"), Miroslav Zecevic, of Mina Mar Marketing Group ("Mina Mar Group"), Mina Mar Corporation, and additional Spanish entities (among others) involving allegations of serious misconduct perpetrated against ADHC, a public company, Ernest B. Remo, and the ADHC shareholders.
ADHC and Remo have amended their complaint, adding additional information and seeking additional relief from Zecevic's improper interference with ADHC's business relationship with a joint venture partner and CBD acquisition candidate. As detailed in the complaint, correspondence with the CEO of the acquisition candidate, Zecevic improperly threatened to add them to pending litigation after the announcement of the executed letter of intent. The amended complaint states that such actions interfered with ADHC's business relationships causing significant financial harm. Additionally, the amended complaint identifies Xavier Massana, a principal of Tourist Cruise SL, as an individual who has a history of improper shares issuances and returning shares to issuing entities. Indeed, as reflected in various 8-K filings, in one such instance earlier in 2021, Massana returned tens of millions of shares in Mojo Data Solutions Inc. The amended complaint not only details Massana's torrid past in having to return millions of shares, but doing so in 8-K filings where he (or his affiliated businesses), share the same address with Zecevic and Mina Mar Group.
See MOJO DATA SOLUTIONS, INC. (Form: 8-K, Received: 09/21/2021 13:15:13).
See MOJO DATA SOLUTIONS, INC. (Form: 8-K/A, Received: 02/21/2019 17:09:23).
The amended complaint can be found at:
https://nevada.tylerhost.net/ViewServiceDocuments.aspx?ADMIN=0&SID=283181a5-d261-415b-8ea0-284438c5af74.
This legal action contains allegations of years of improper actions that have caused significant harm to ADHC shareholders. Setting forth claims of conversion and intentional interference with contract against Zecevic (among other claims), the complaint states, "In August and September 2019, Zecevic caused over 300 million ADHC shares to be issued to the Spanish entities. However the monies that were paid for the shares were never received by ADHC. Instead of ensuring that ADHC would be paid for its shares, Zecevic arranged to have the monies paid directly to Mina Mar Corp., Zecevic's own business. ADHC, then a Nevada corporation, received nothing for these substantial share issuances. In addition to directing payment to his company, Zecevic set the price for the shares issued to Tourist Cruise SL (one of the Spanish entities) at 10% of the then-current price as traded on the open market." In support of these statements, the complaint attaches a purported "bank record from August 12, 2019 directing payment from Tourist Cruise SL to Mina Mar Corp. [not ADHC] for 62,500,000 ADHC shares."
In addition to the claims of financial malfeasance against Zecevic, the complaint also seeks relief from Zecevic's alleged repeated false statements against ADHC and its management. Included in the body of the complaint are images of a dozen publications and social media statements attributed to Zecevic, upon which the plaintiffs' claims are based. "Zecevic's false statements are intended to manufacture confusion and doubt about ADHC in the eyes of the public," the pleading states. Additionally, the complaint avers that "Zecevic caused American Diversified Holdings Corp., a New York corporation unrelated to ADHC to be formed and incorporated in New York on October 27, 2021 for the purpose of creating additional confusion with the public about the identity and management of ADHC and to otherwise leverage ADHC's good name, reputation, and trademarks for his benefit."
According to the complaint, the authorized and legal management team of ADHC, both as a corporation and individually, have been the target of a repeated campaign of false and malicious actions which has resulted in severe deterioration in the market value of ADHC's stock.
"After over two years of enduring the repeated attacks against the shareholders of ADHC this lawsuit sends a statement to the defendants that ADHC management will not sit by and allow the shareholders to be victimized," stated ADHC management.
ADHC is seeking monetary damages and other remedies to ensure that ADHC will no longer endure this wrongful behavior from the named defendants.
To review the amended complaint interested parties can follow the link below.
https://nevada.tylerhost.net/ViewServiceDocuments.aspx?ADMIN=0&SID=283181a5-d261-415b-8ea0-284438c5af74
Universal Wellness Holdings Corporation (FKA) American Diversified Holdings Corporation is a publicly traded holding company trading under the ticker symbol (OTC Pink: ADHC).
Investor Contact: eremo@universalwellnesshc.com ,858-259-4534, Twitter: @adhcmanagement
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109512
