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Letter to Shareholder August 18, 2021 regarding CE, Disclosures and Adar Bays Litigation.
Letter to Shareholder August 18, 2021 regarding CE, Disclosures and Adar Bays Litigation..
About this update from 4cable Tv International, Inc.
[{"type":"text","content":"\n\n\n\nLetter to Shareholder August 18, 2021 regarding CE, Disclosures and Adar Bays Litigation.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nLetter to Shareholder August 18, 2021 regarding CE, Disclosures and Adar Bays Litigation.\nPR Newswire\nMIAMI, Aug. 19, 2021\n\n\n\nMIAMI, Aug. 19, 2021 /PRNewswire/ -- Dear Shareholders below please find an update on the CE, the Disclosures, and the current litigation with Adar Bays.\nCE: Caveat Emptor\nFollow 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.\nDisclosures and Opinion Letter:\nWe 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.\nAdar Bays, LLC Litigation:\nOn 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.\nCATV continues to operate normally, and business is as usual.\nThank you for your support,Michael Feldenkrais, CEO\n4Cable TV International, Inc. (OTC: CATV) is determined to become ...