Toronto Canada Mina Mar Group Inc (www.minamargroup.com) a privately held Canadian company today filed a lawsuit in Toronto Canada against Belmont Partners. www.belmontpartners.net and Joseph Meuse personally.
Amongst other things, the companies purchased by Mina Mar Group had the following names and trading symbols: Vsheild Software Corp. - VSHE, King Resources Inc. - KING and Aztec Technology Partners, Inc. - AZTC. In summary, Mina Mar Group takes the position that assets were removed from the 3 aforementioned companies which belong to all of the shareholders, however Joseph Meuse admitted to Miro Zecevic President of Mina Mar Group that these assets were distributed to only to some, but not all of the shareholders. Miro Zecevic said "Upon learning this, it just didn't sit well with us. That action exposed us and these Companies to law suits from dissenting shareholders, SEC inquiries, sanctions and other possible liabilities that Mina Mar did not anticipate and did not bargain for.
"We are extremely disappointed that Belmont and Mr. Meuse (The X management) simply refused to address these matters and other matters when brought to their attention. Moreover there are other serious irregularities that were discovered by our internal forensic research analysts that would seriously undermine any minority shareholder of these companies. In addition any company that merged with these issuers would have been in peril. Our team has worked very hard over the past several months by completing filings on Pink Sheets and increasing these issuers ranks from "STOP NO INFORMATION" to "YIELD LIMITED INFORMATION" and including introducing these issuers to substantial companies in Europe USA and China as per various past news releases. All of these pending deals are now off the table. We have a very strong presence in China with approximately 20 Chinese companies looking to enter the public markets with reverse mergers. In good conscience and as a good corporate citizen we can not recommend these companies to our clients nor provide any sort of meaningful investor relations to these issuers shareholders. We recently launched a shareholder advocacy division where we assist minority shareholders in cases where the issuers are abusive or where the issuers simply abandon the assets, and leave minority shareholders in the cold. This Belmont matter goes against the very principles we believe in."
Mina Mar Group acknowledges the efforts of Big Apple Consulting, a USA based company, who is also involved in a similar type of lawsuit with Belmont on a similar and unrelated transaction.
The entire Mina Mar Group law suit against Belmont Partners can be viewed at this link http://www.minamargroup.com/client_interests.php
SOURCE Mina Mar Group
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