Enerkon Solar International Inc. (ENKS) Announce Filing of Federal Action in Reno NV to invalidate 14.2 million shares in several previous transactions of former management and 2 service providers who did not perform
Enerkon Solar International Inc. (OTC PINK: ENKS) has initiated a federal lawsuit in Reno, NV, to invalidate over 14.2 million shares linked to former management and service providers who failed to deliver services in 2018-2019. CEO Benjamin Ballout emphasized the company's commitment to good governance and protecting shareholder value. The case aims to retire these shares back to the company's treasury for the benefit of current shareholders. Updates on audit status and corporate actions related to share conversion will be reported soon.
- Initiation of a federal lawsuit to invalidate 14.2 million shares which could enhance shareholder value.
- Commitment to good governance and compliance by the current management.
- The legal action indicates potential mismanagement issues in the past.
- Costs of litigation may impact financial resources even if potential benefits outweigh them.
New York, New York, June 15, 2021 (GLOBE NEWSWIRE) -- Today, Enerkon Solar International Inc. (OTC PINK: ENKS) an international holding company – consisting of 6 companies incorporated in the USA and UK - investing in major top market segments (Renewable Energy, Solar – Hydrogen Production, New Disruptive Technologies, Patents and Trademarks, Biotech, Defense and other vibrant market segments) issued the following statement through the Companies CEO MR. Benjamin Ballout who stated:
“Enerkon Solar International Inc. (OTC PINK: ENKS) Announce Filing of Federal Action in Reno NV to invalidate 14.2 million shares in several previous transactions of former management and 2 service providers who did not perform.”
ENKS Chairman Mr. Ballout further states that this aggressive action is a testament to our resolve in maintaining the heist level of good governance – compliance, and a zero-tolerance policy for any misbehavior from any commercial entities or individuals who may seek to misbehave in relation to ENKS or its equity.
“While we have leave to amend the complaint to add others the defendants are comprised of former management or from before we took over the public company as we were a private firm initially, and others such as 2 service providers who failed to provide any services in exchange for payment in 2018-2019 0 this payment was in the form of restricted common stock and these shares are the ones we seek to have the federal Judge Invalidate and retire back to treasury of the company for the benefit of all current shareholders.
“We are pleased to expend the cost of litigation to prosecute these allegations - as the benefit of potential invalidation of these 14.2+ shares far outweigh the financial cost, many times over”
“ENKS is always at the forefront – protecting shareholder value.”
“ENKS will report on the progress of our action, as we have any developments to report, and we are proud to be associated with the prestigious law firm of Cohen & Johnston PC.”
“Updates on Audit status and other corporate actions associated with the second phase of our share conversion to preferred already underway will be reported as the process completes, with results posted on the reviews company profile on OTC Markets website (which will take 5-7 days to appear adjusted).”
“Lastly, ENKS will post Video of the ALBAYRAKLAR Defense Unit Weapon System (New Taser and other items) related to our Joint Production agreement signed last year for public review as we will restart our activities in this regard on invitation of Adnan Al BAYRAK CEO.”
The foregoing statements are forward-looking statements, and as such, they may or may not reflect the results which could transpire in the future which should be negative or not transpire at all due to circumstances or other reasons and investors, shareholders, or others should not rely on these forward-looking statements to ascertain any value if any of ENKS or to make any investment decisions and to take note that this is not an offer to buy or sell securities or an endorsement of ENKS for investment purposes as all investment carry a risk of loss sometimes a total loss of your investment in Micro cap shares markets or any market and therefore such statements or plans should not be relied upon for any business decisions of any kind - Approval and permissions required by federal regulations may or may not be approved and if not approved may result in the loss of all value and all investments in products requiring such regulatory permissions to market and sell. These statements are made as forward-looking statements for educational purposes only, in accordance with the rules and regulations which pertain to the same.
Enerkon Solar International Inc.
www.enerkoninternational.com
info@enerkoninternational.com
New HQ Address in New York at:
Enerkon Solar International Inc.
477 Madison Avenue
New York, NY 10022 USA
Tel. +1 (877) 573-7797
Tel. +1 (718) 709-7889
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