ZYB 0.00% 1.5¢ zyber holdings ltd

Ann: Annual Report to shareholders, page-11

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  1. 58 Posts.
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    "During the financial year ended 30 June 2019, a legal action was commenced by Noorani Systems Corp against a
    subsidiary of the Company, Zyber Secure Mobile Solutions Inc, in the Provincial Court of British Columbia (Small Claims
    Court) at Vancouver, Canada, claiming CAD26,486 in respect of IT consulting services allegedly provided to the
    subsidiary. In accordance with legal advice received by the subsidiary’s legal representatives in the action, the subsidiary
    has denied liability and is defending the action. In addition to provisions being made for the disputed claim, the Company
    has made provisions for the subsidiary’s costs of defending the claim. No provision has been made in respect of the
    claimant’s costs of the action, should the subsidiary be unsuccessful in its defence, as such costs are not ordinarily not
    recoverable in the Small Claims Court."

    Some interesting FACTS about this,

    Notice of claim was filed early June 2018, but the company failed to disclose this to the market until now. You'll notice the other two cases have exact dates, legal trickery!
    George spent company money to hire a canadian lawyer AND flew out to Vancouver for court to fight this. He was too busy smoking cigarettes to even consider settling this at trial on October 18.
    Judgment made against company for full amount + expenses on October 31,2019.
    Now the company is refusing to acknowledge this judgment against them thereby forcing another lawsuit in supreme court.

    Clearly not acting in the best interests of shareholders and using good money chase bad.

    OPA!!
 
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