Enzolytics, Inc. Addresses Additional Misinformation

Enzolytics, Inc. (OTC PINK:ENZC) (enzolytics.com"enzolytics.com”)(the “Company” or “ENZC”) today became aware of an article by a self-proclaimed Bulgarian investigative journalistic entity, that ENZC asserts, in its  opinion and knowledge  of the facts,  contains erroneous and misleading statements and allegations regarding recently announced litigation and members of its board of directors. This entity does not rely on advertisements or sponsors but on donations from readers, similar to paid internet trolls and what are commonly described as “bashers”.

This article states that litigation has been filed against Enzolytics, Inc. by US Regulatory Agencies. No litigation has been filed by any agency. The article further erroneously declares that the plaintiff “alleges that the Company was operating a fraudulent scheme through which ENZC pocketed illegal profits of nearly $100 million.” No such claim is made in the litigation against the Company.

Further, the article makes untrue assumptions about the Company’s board member, Dr. Lachezar Ivanov, trying to link profits made from sales in 2021 of his shares that were earned in 2020. The unflattering description of this transaction was part of another article by this investigative journalist entity in August of 2021 that appears to have resulted in an investigation into the sale transaction, which ended in 2023, in which Dr. Ivanov was totally exonerated. The GERB MP is currently pursuing a SLAPP case against the purported investigative journalist entity as a result of the August 2021 article, which is currently pending.

The Company also points out that the litigation recently filed has not been adjudicated and no findings have been reached.

Dr. Ivanov is a shareholder of ENZC and was elected to its board of directors for his knowledge and expertise in the medical and scientific fields in March of 2024 as part of the restructuring of the board of directors of the Company. He receives no compensation for his services. The alleged claims in the litigation all occurred prior to Dr. Ivanov election to the board of directors. In addition, Dr. Ivanov has never been an officer of ENZC or had decision authority regarding financial operations or investor relations for the Company.  

The current article gives the impression that it is a continuation of the misleading and inaccurate statements of the 2021 article, primarily provided as quotes from Dimitar Savov.  Savov was previously declared to be schizophrenic and unable to stand trial in Bulgaria for a Four Million Dollar Fraud against the Bulgarian Government on or before September 1, 2001. Mr. Savov has, in the Company’s opinion, lost and exhausted all his legal options with only one ill-advised pro se appeal remaining.  The Company sees this as a desperate attempt to try to somehow gain control of patented technology, to which he has no claim. The company had to issue press releases on July 26^th and October 14^th of 2024 regarding public misstatements made by Mr. Savov regarding the Zhabilov Trust 100% owned Patents. Mr. Savov received over 70 million shares of ENZC common stock from a consulting agreement in 2017 when Immunotech Laboratories, Inc. sold its assets to Eco-Petroleum Solutions, Inc. These contested shares were sold at a much higher gain than Dr. Ivanov, but the investigative journalist entity fails to disclose this fact in either article.

ENZC does agree with one statement from the 2021 article and that is, “this product may indeed have a future.” This future will not include Dimitar Savov. In January of 2021 ENZC issued a default notice to Dimitar Savov and IMMB BG canceling all contractual relationships between the two entities because of Savov’s breach of contract and failure to perform. There is no relationship between the Parties. All claims made by Dimitar Savov have been adjudicated in the US and Bulgarian courts in favor of the Company. Savov has no litigation against ENZC.

Enzolytics will continue to update investors as it continues to investigate and pursue this matter.

Harry Zhabilov, CSO and inventor of the Patents owned by Zhabilov Trust stated," Dimitar Savov was given a consulting agreement for 70 million shares of restricted stock.  Savov failed to ever perform one thing under the consulting agreement.  It is the Company’s contention that no consideration was ever given for those shares and Savov should not have been able to trade them.  The Company vigorously defended this position. Savov continues to propagate a misleading narrative to the Shareholders of Nika Pharmaceutical regarding ownership of ITV-1 and its derivatives. I do not understand how the directors of Nika Pharmaceutical is allowing this to be included in its filings. The Company will be issuing a full rebuttal to both articles in the near future." 

Steve Sharabura, CEO of Enzolytics, commented, “This appears to be a smear campaign toward the Company and anyone associated with our efforts to bring our licensed treatments to market in an attempt to treat the number one killer disease, cancer. Both the Board of Directors and I are steadfastly aligned with SAGA to bring to an end this travesty and continue the protection of both entities shareholder value.”

About Enzolytics, Inc.

Enzolytics, Inc. is transitioning from solely a drug development company committed to commercializing its proprietary proteins and monoclonal antibodies to treat debilitating infectious diseases to include the additional contracted service areas of sales, marketing and distribution focusing on medical devices, medical testing and nutraceutical products.

Forward Looking Statements

The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, Company’s ability to enter into a definitive business combination agreement and Company’s ability to obtain the financing necessary to consummate the potential business combination transaction. These statements are based on various assumptions and on the current expectations of Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Company. These forward-looking statements are subject to a number of risks and uncertainties, including: Company’s ability to enter into a definitive agreement with respect to the proposed business combination or consummate a transaction; the risk that the approval of the stockholders of Company for the potential transaction is not obtained; failure to realize the anticipated benefits of the potential transaction, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Company; the amount of redemption requests made by Company’s stockholders and the amount of funds remaining in Company’s trust account after satisfaction of such requests; those factors discussed in Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading “Risk Factors,” and other documents of Company filed, or to be filed, with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Company presently does not know or that Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Company’s expectations, plans or forecasts of future events and views as of the date hereof. Company anticipates that subsequent events and developments will cause Company’s assessments to change. However, while Company may elect to update these forward-looking statements at some point in the future, Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Company’s assessments as of any date subsequent to the date of this disclosure statement. Accordingly, undue reliance should not be placed upon the forward-looking statements.

CONTACT INFORMATION

Enzolytics, Inc.

Steve Sharabura, Chief Executive Officer

1101 Raintree Circle, Suite 130
Allen, Texas 75013

Tel: (845) 925-4597

 X/Twitter: @EnzolyticsInc