Moon Equity Holdings Corp Sets the Record Straight on the Peruvian Transaction

Rhea-AI Summary

Moon Equity Holdings Corp (OTC: MONI) has strongly denied allegations made in an article published on August 23, 2022. The company emphasized that its negotiations regarding a Peruvian mine transaction were terminated due to concerns about auditability of the Peruvian company's records. Additionally, Moon asserted that the purchase of the control block was fully paid before the transfer, countering claims to the contrary. The management is focused on building shareholder value and is taking legal steps to address the misinformation.

Positive

• Management is actively defending against false allegations to protect shareholder interests.
• The company has clarified its financial dealings regarding the control block purchase.

Negative

• Termination of negotiations for the Peruvian mine transaction due to auditability issues raises concerns about potential future projects.
• The need for legal defense may suggest ongoing reputational risks that could impact investor confidence.

DELRAY BEACH, FL, Aug. 24, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – To Moon Equity Holdings Corp (OTC symbol MONI) shareholders:  The allegations made in the article published 8/23/22 on PRlog.org are completely inaccurate and any threatened litigation against Moon Equity Holding Corp and its shareholders will be vigorously defended. The negotiations pertaining to the Peruvian mine transaction were terminated at the advice of Moon’s counsel and our auditors when it became apparent that the Peruvian company’s books and records could not be audited and the request for other official documentation could not be obtained to complete our full due diligence. This would have adversely affected Moon’s ability to become an audited and fully reporting company.

The transaction whereby the control block was purchased was fully paid for prior to the transfer of the said control block. Any claim to the contrary is false and Moon possesses the records of the payments and subsequent transfer control block as disclosed in Moon’s past financial reporting.

Management is working hard to build shareholder value and has referred the article to its counsel for review.

Safe Harbor Statement

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of Moon Equity Holdings Corps. future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Moon Equity Holdings Corps subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on future results of Moon Equity Holdings Corp. The forward-looking statements included in this press release are made only as of the date hereof. Moon Equity Holdings Corp. cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Moon Equity Holdings Corp. undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Moon Equity Holdings Corp.

Contact us at: Info@moonequityholdings.com

FAQ

What allegations did Moon Equity Holdings Corp face on August 23, 2022?

Moon Equity Holdings Corp faced allegations regarding its transactions and financial dealings, which it strongly denied.

Why did Moon Equity Holdings Corp terminate its negotiations for the Peruvian mine?

The negotiations were terminated due to concerns that the Peruvian company's records could not be audited.

What is the stock symbol for Moon Equity Holdings Corp?

The stock symbol for Moon Equity Holdings Corp is MONI.

How is Moon Equity Holdings Corp responding to the allegations?

The company is vigorously defending itself against the allegations and has referred the matter to its counsel.