ITEM 1.02 Termination of a Material Definitive Agreement.
On or about April 10, 2020 the Company elected to terminate a Consulting
Agreement with Jung Yong Lee (aka John Lee) based on several reasons set forth
in a letter dated April 10, 2020 from the Company to Mr. Lee including without
limitation the failure to perform services, the failure to abide by a
confidentiality non-disclosure agreement and the statements by Mr. Lee which
have threatened improper and unwarranted retaliatory legal action(s) against the
Company.
SECTION 8 - Other Events Item 8.01 Other Events.
ITEM 8.01 Other Events.
On April 2, 2020 the Company filed a civil lawsuit in Nevada District Court
against Defendants Saean, Inc. and Jung Yong Lee (aka John Lee) regarding their
actions related to the breach of a Convertible Note Purchase Agreement. The
Company retained attorney Byron E. Thomas, Esq. of Las Vegas, Nevada to pursue
this matter (including the defense of any counter actions) in the best interest
of all shareholders.
In response to the lawsuit on or about April 3, 2020 the named Defendants wrote
to Plaintiff informing it of their desire to conduct an ultra vires and
defectively noticed meeting of shareholders for the Company at the office of
their attorney in Las Vegas, Nevada, to among other things appoint a new board
of directors and to dissolve the Company. In response, on or about Monday April
13, 2020 the Company, though its' attorney Byron E. Thomas, Esq., filed an
Application for Temporary Restraining Order to prevent any such un-noticed
meetings or any ultra vires corporate actions or securities issuances/transfers
by the Defendants Saean, Inc. and Jung Yong Lee (aka John Lee).
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not Applicable
(b) Pro forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
99.1 - Additional Exhibits - Copy of Letter of Cancellation dated April 10,
2020 to Jung Lee
99.2 - Additional Exhibits - Copy of the Application for TRO with Exhibits
dated April 14, 2020.
© Edgar Online, source Glimpses
EMPIRE POST MEDIA, INC. 