Business
Altavoz Entertainment Inc - Shareholder Update 14 February 2023
Altavoz Entertainment Inc - Shareholder Update 14 February 2023.
About this update from Altavoz Entertainment, Inc.
[{"type":"text","content":"Altavoz Entertainment Inc. Shareholder Update14th February 2023We are pleased to release our financial figures for 2022 on OTC markets under ticker code AVOZ.2022 was a challenging year for Altavoz Entertainment Inc and its subsidiary Nurish.Me LLC. In the first half of the year, our growth plans were impacted by garnishments on our bank account and lawsuits with Bioscience Xtra Ltd and Venture Investment Group, which we had to navigate. As a result, our free cash was consumed by paying for lawyers and managing the settlements of actions against Nurish.me and our own counterclaim. Additionally, we incurred two years of accounting services in 2022, namely the financials for 2020 and 2021. Furthermore, GAAP Genies provided accounting services up to June 2022 before being re-engaged to complete the 2022 accounts in preparation for a merger opportunity. Altavoz Entertainment Inc now meets the requirements to uplift to Pink Current status based on the work performed by GAAP Genies over the past 18 months. This is a significant milestone that has been achievedWe experienced some significant changes in our leadership in 2022. We received resignations from subsidiary Nurish.me LLC, CEO and Chief Formulation Officer on June 23, 2022, following the Venture Investment Group $7.8 million judgement. Moreover, we informed shareholders that members of the board had resigned. However, a recent review of notices found that they had resigned specifically from the subsidiary Nurish.me LLC and not their positions as directors of the Altavoz Entertainment Inc board.Isaac Management, a shareholder with an interest greater than 10%, requested a special shareholder meeting be called, which was held on August 24, 2022, at 1 pm ET. During the meeting, a motion was put forward to elect David Perez to the board, but it failed to get more than 50% of the eligible vote and was dismissed. We also discussed the financial position of the company and presented a plan moving forward to shareholders in attendance, along with an audio statement from the former CEO Caesar Kavadoy.David Perez towards the end of the Special Shareholder Meeting accused both Dr Michal Heger and Dr John Lewis of wrongdoing. An internal investigation found that Morris Formulations owned by Dr Lewis had no agreement in place with Nurish.me to sell his product and therefore was free to sell...