SOUTHFIELD, Mich., July 8, 2014 /PRNewswire/ -- Halberd Corporation
(OTC Market: HALB) Halberd Corporation responds to the false press
release issued by the plaintiffs (in three separate causes of
action), including Marvin Katz and
his companies, and Stephen
Wilshinsky, his company and his mother. As a part of these
plaintiffs' misleading financial claims, they are suing Halberd
Corporation and the defendants for refusing to violate the law.
Despite the plaintiffs' false claims, there has been no
determination of liability. Indeed, the plaintiffs have lost every
single motion in these cases which has a ruling. The California cases are as follows: CV 13-01412
BRO and 2:12-cv-10041 FMO (FFMx); the Nevada Case No. is
A-14-697936-P. Each suit is frivolous. And Halberd Corporation will
continue to vigorously defend each suit.
Halberd will not cower to these plaintiffs' acts of misleading
financial claims.
Plaintiffs boldly seek $324,000
damages and 10,800,000 shares of Halberd common stock, for
$400 allegedly paid for the shares.
And Plaintiffs' own counsel, Kenneth
Eade, admitted that the $400
was not paid by the plaintiffs, and not even paid to Halberd
Corporation. Plaintiffs seek to take over Halberd Corporation. This
frivolous initiative was specifically stated in their separate
lawsuit filed in Nevada,
A-14-697936-P - In the Matter of the Petition of SMSW Enterprises
LLC, against Halberd Corporation.
Perhaps even more importantly, however, without such proof of
payment, it would be illegal for the Defendants to participate in
the removal of the restrictive legend on the securities – to do so
would violate Section 5 of the Securities Act of 1933, which
prohibits the removal of the restrictive legend from the shares at
issue, and defendants' counsel has advised that it would be a
criminal violation of Section 5 of the Securities Act of 1933,
concerning the sale of unregistered securities, for the Defendants
to participate in such an action.
The SEC ruled that: "The relevant holding period [6 months or 12
months] begins when the securities were bought and fully paid for."
See http://www.sec.gov/investor/pubs/rule144.htm. Yet, without
payment for the securities, by Mr. Katz and his companies, let
alone payments to Halberd, that holding period never commenced.
Halberd Corporation is a Holding Company and Incubator for early
stage high growth businesses. They are located in
Southfield, Michigan.
Halberd Corporation trades on the OTC Market under the ticker
symbol HALB.
Safe Harbor
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.The
words or phrases "would be," "would allow," "intends to'" "will
likely result," "are expected to," "will continue," "anticipate,"
"expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand,
which may differ significantly from expectations, the need for the
company to manage its growth, the need to raise funds for
operations and other risks within the regulation of the industry.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company's
past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
SOURCE Halberd Corporation