EMPIRE POST MEDIA, INC. (OTCMKTS:EMPM) Files An 8-K Termination of a Material Definitive Agreement
ITEM 1.02 Termination of a Material Definitive Agreement.
On or about April 10, 2020 the Company elected to terminate a Consulting Agreement with Jung Yong Lee (aka John Lee) based on several reasons set forth in a letter dated April 10, 2020 from the Company to Mr. Lee including without limitation the failure to perform services, the failure to abide by a confidentiality non-disclosure agreement and the statements by Mr. Lee which have threatened improper and unwarranted retaliatory legal action(s) against the Company.
SECTION 8 – Other Events Item 8.01 Other Events.
ITEM 8.01 Other Events.
On April 2, 2020 the Company filed a civil lawsuit in Nevada District Court against Defendants Saean, Inc. and Jung Yong Lee (aka John Lee) regarding their actions related to the breach of a Convertible Note Purchase Agreement. The Company retained attorney Byron E. Thomas, Esq. of Las Vegas, Nevada to pursue this matter (including the defense of any counter actions) in the best interest of all shareholders.
In response to the lawsuit on or about April 3, 2020 the named Defendants wrote to Plaintiff informing it of their desire to conduct an ultra vires and defectively noticed meeting of shareholders for the Company at the office of their attorney in Las Vegas, Nevada, to among other things appoint a new board of directors and to dissolve the Company. In response, on or about Monday April 13, 2020 the Company, though its’ attorney Byron E. Thomas, Esq., filed an Application for Temporary Restraining Order to prevent any such un-noticed meetings or any ultra vires corporate actions or securities issuances/transfers by the Defendants Saean, Inc. and Jung Yong Lee (aka John Lee).
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not Applicable
(b) Pro forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
99.1 – Additional Exhibits – Copy of Letter of Cancellation dated April 10, 2020 to Jung Lee
99.2 – Additional Exhibits – Copy of the Application for TRO with Exhibits dated April 14, 2020.
Empire Post Media, Inc. Exhibit
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About EMPIRE POST MEDIA, INC. (OTCMKTS:EMPM)
Empire Post Media, Inc. is a development-stage company. The Company is an entertainment company engaged in pursuing opportunities in creating, developing and producing television programming for the global market; providing post-production services to film and television producers on a deferred, collateralized basis to facilitate completion and delivery of movies and television shows that have finished production with third-party financing, and utilizing its three dimensional (3D) expertise to assist producers in the production and post-production of 3D motion pictures and television programs, including conversion to 3D of content originally produced in two dimensional (2D).
