EQCO2 and Discovery Plan a Vigorous Defense Against Crown's Lawsuit, Which They
Consider to Be Meritless
CARSON CITY, NV -- (Marketwired) -- 09/06/13 -- EQCO2, Inc. (OTCQB:
CLNO) will fight Crown and is considering counter-claims, believing
now that Crown's intent all along was to re-take control after
draining Discovery's funds from it.
EQCO2 recently introduced Crown to an investor who offered
significantly over market value for Crown's interest in EQCO2. It was
rejected by Crown's failure to respond after weeks of negotiations to
satisfy Crown's requirements, which the last version met.
In recent years, Crown was paid what appear to be exorbitant amounts
of CLNO shares for services allegedly received, as approved by Ken
Bosket and Montse Zaman, while each was an officer and director of
both companies. Ms. Zaman's mother is the majority shareholder of
Crown, based on SEC filings. When the Exchange Agreement named in the
lawsuit was approved, Bosket and Zaman were officers and directors in
both companies too.
EQCO2 believes that Hassan "Mike" Zaman, a person barred by the SEC
from association with stock brokers
(http://www.sec.gov/litigation/admin/3440494.txt) controlled his
wife's actions in both companies, and potentially Bosket's too. Zaman
is CEO of Zaman & Co., which received over 70,000,000 CLNO shares in
June (authorized by EQCO2's board when his wife and Bosket were
directors). Suspecting fraud, EQCO2's current board is now
All defendants will vigorously fight the lawsuit and take every
action available at law to protect the interests of shareholders and
themselves, because under Zaman's and Bosket's control, EQCO2 was an
unmitigated failure as a company.
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 in this news release, 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
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those in forward looking statements.
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