Aphex BioCleanse System Inc Suspends Director Scott Smith
Aphex BioCleanse Systems, Inc. (OTCPK: SNST) has announced the permanent termination of Director Scott C. Smith due to unauthorized actions detrimental to the company. His conduct included not informing the board of his intent to file a lawsuit, misrepresenting ownership of key patents, engaging in unauthorized shareholder communications, and incurring expenses without generating revenue. The board is also investigating others allegedly colluding with Smith. Aphex is known for its innovative, non-toxic cleaning technology, Hy-IQ® Water, designed to eliminate dangerous pathogens.
- The company has taken decisive action by terminating a director whose actions were harmful to the organization.
- Aphex's commitment to innovative, non-toxic cleaning technology positions it well in a market focused on health and safety.
- The board's decision illustrates significant internal conflict, potentially affecting investor confidence.
- Scott C. Smith's actions reportedly resulted in unauthorized expenses and no revenue generation for the company.
PITTSFORD, NY, March 04, 2022 (GLOBE NEWSWIRE) -- Aphex BioCleanse Systems, Inc. (OTCPK: SNST), a forward-thinking, publicly-traded company, announces the Board of Directors of Aphex BioCleanse Systems, Inc. has voted in the majority to make the previously announced Suspension of Scott C. Smith, a Director, a permanent termination and for cause.
The Board of Directors decision was focused on four primary actions precipitated by Director Scott C. Smith which were determined to be directly unauthorized by the Company and detrimental to the Company and its Shareholders. These actions were:
1. Scott C. Smith did not advise the Board of Directors as to his intention to file a lawsuit. This is in direct contravention with the “Schoon Doctrine”, (Schoon v Smith, No 554, 2006 Del. February 12, 2008.
2. It is the position of Aphex that Scott C. Smith misrepresented himself as the Owner of the key Patents and other Intellectual property relating to Oil Remediation and Open Cell technology. When requested by the Chairman to provide a list of Patents he was representing he would transfer to the Company in return for over 15 million Shares of Company Stock, he refused to comply. Therefore, it is the position of Aphex that Scott C. Smith does not own the key Patents relating to Oil Remediation and open cell technology.
3. It is the position of Aphex that Scott C. Smith has pursued and participated in numerous unauthorized contacts with Company Shareholders and business contacts and has propagated misinformation and unsubstantiated claims against the Company and key Officers and Employees. These actions have substantially damaged the Company.
4. During Scott C. Smith’s association with the Company and as a director and acting Chief Marketing Officer and Chief Sustainability Officer he created expenses but no business and created no revenue for the Company and its shareholders.
Accordingly, the Aphex Board of Directors has determined, effective immediately, to permanently terminate Scott C. Smith from any and all duties as a Board Director as well any further representation of Aphex BioClease Systems, Inc.
The Board of Directors is conducting an ongoing investigation into multiple persons it believes have been acting in collusion with Scott C. Smith and will pursue these people within the full scope of the law.
About Aphex BioCleanse Systems, Inc.
Aphex BioCleanse Systems, Inc. is the developer of the world's first proprietary non-alcohol, non-toxic, hydrogen-based cleaning technology, and has been producing germ killing solutions for over 10 years. The technology, called Hy-IQ® Water, has a unique method of sanitizing that uses hydrogen ions traveling nearly at the speed of light to breach the cell walls of exoskeleton germs. “We Kill Germs with Physics, Not Chemistry” is a tagline that expresses their commitment to the environment by providing non-Chemical solutions to the spread of dangerous pathogens. Killing the most dangerous germs on the planet, while meeting the EPA’s definition of “Water” is revolutionary. With world leading teams and technology, Aphex is doing its part to make the world a safer place. To find out more about Aphex and their technologies, visit: Aphex BioCleanse Systems, Inc. - Superior Sanitization (aphexus.com).
Forward-Looking Statements
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future, including but not limited to, any products sold or cash flow from operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Investor Contact:
Jon Olson, CEO
Milestone Management Services
Jon@milestonemanagementservicesllc.com
702-217-9518
https://aphexus.com/
FAQ
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