EQCO2, Discovery Carbon and Crown Equity Lawsuits Settled and Statements About Barnwell, Sock, Sullivan, and Discovery Carbon...
July 11 2014 - 4:58PM
EQCO2, Inc. (FKA Cleantech Transit, Inc.) (Pink Sheets:CLNO),
Discovery Carbon Environmental Securities Corporation, and Crown
Equity Holdings, Inc. (Pink Sheets:CRWE) today are pleased to
announce that lawsuits filed by and against Crown Equity Holdings,
Inc., EQCO2, and others have been settled by mutual agreement. The
agreement for EQCO2 to acquire Discovery Carbon has been rescinded.
The now repudiated fraud statements about Barnwell, Sock,
Sullivan, and Discovery Carbon and its products on websites and
other media were based on information that had been believed to be
truthful. They led to extensive misunderstandings regarding the
acquisition. All parties shall make a reasonable effort to remove
any disparaging written statements by them or their agents
regarding any party as posted to the internet to the extent that
such removal is within such party's reasonable control, power, or
authority.
The parties now believe it is best for EQCO2 and for Discovery
Carbon to each move forward on self-directed opportunities
separately for the benefit of both companies' shareholders. William
"Billy" Barnwell, Shad Sullivan, and Arnold F. Sock, Esq. have
resigned from all positions they held with EQCO2. Ken Bosket and
Montse Zaman, former EQCO2 directors, have been appointed directors
to take over the helm of EQCO2. Barnwell, Sullivan, and Sock remain
in their positions at Discovery Carbon. All agreed that this
settlement is in the best interests of EQCO2, Discovery Carbon,
their shareholders, and all now former litigants.
No party admitted fault and no existing financial obligations
between EQCO2 and Discovery Carbon remain.
Safe Harbor Statement: This news release includes
forward-looking statements pertaining to future anticipated
projected plans, performance and developments, intended to qualify
for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. Any statements on this
news release that are not statements of historical fact should be
considered forward-looking statements. These forward-looking
statements generally can be identified by phrases such as
"believes," "expects," "anticipates," "foresees," "forecasts,"
"estimates," "intends," or other words or phrases of similar
import. Similarly, statements in this news release that describe
the Company's business strategy, outlook, objectives, plans,
intentions or goals also are forward-looking statements. All such
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward-looking statements.
CONTACT: Kenneth Bosket, President
702 448-1543