Letter to Shareholder August 18, 2021 regarding CE, Disclosures and Adar Bays Litigation.
August 19 2021 - 8:00AM
InvestorsHub NewsWire
Miami, FL -- August 19, 2021 -- InvestorsHub
NewsWire --
Letter to
Shareholders:
Dear Shareholders below please find an update
on the CE, the Disclosures, and the current litigation with Adar
Bays.
CE: Caveat
Emptor
Follow up on Caveat Emptor. We have
presented to the OTC the request for review for the removal of the
CE classification on CATV. We will await a response from them
regarding such request. CATV by way of Counsel is working
diligently to clear up this matter as soon as possible. We
will keep the shareholders informed of any updates from the OTC in
reference to the CE.
Disclosures and Opinion
Letter:
We have filed our disclosures with the Opinion
Letter and have since amended due to some scrivener's errors and filed the amended
Disclosures with an amended Attorney Opinion Letter. We will
keep the shareholders informed of any updates from the OTC in
reference to the CE.
Adar Bays, LLC
Litigation:
On June 11, 2021, Adar Bays, LLC, filed suit
against the Company and Michael Feldenkrais, an officer, director
and majority shareholder of the Company. Adar Bays, LLC V4
Cable TV International, Inc.., United States District Court for the
Southern District of New York, Action No. 21-CV-04628. Adar
Bays includes claims that the Company is indebted to it on the
outstanding notes discussed above, the Company is legally obligated
to convert that Note into shares of the Company and the Company is
liable for expectation damages. In this action, Adar seeks
damages in the amount of $1,494,500 plus attorney
fees. The Company believes that the
action is substantially without merit, and has filed an answer,
denying liability.
CATV continues to operate normally, and
business is as usual.
Thank you for your
support,
Michael Feldenkrais,
CEO
4Cable TV
International, Inc. (OTC:
CATV) is determined to become a fully integrated Global
CBD/Hemp business from seed to
sale.
Safe Harbor
Statement under the Private Securities Litigation Reform Act of
1995 - Statements in this press release regarding 4Cable TV
International's business that are not historical facts are
"forward-looking statements" that involve risks and uncertainties.
For a discussion of additional risks and uncertainties, which could
cause actual results to differ from those contained in the
forward-looking statements, see CATV's OTC Market
filings.
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