AVNT alleged Breakdown of illegal shares sold:
A. May 13,2005 | 150,000,000 {Affiliate of Coleman
B. May 26,2005 | 20,000,000 {Big Apple
C. May 26,2005 | 30,000,000 {Coleman Trust
D. May 26,2005 | 32,000,000 {Vega 7 Ent.
E. May 26,2005 | 10,000,000 {Kern IR
F. May 26,2005 | 15,000,000 (Klamka
G. May 26,2005 | 20,000,000 {Rolland
H. May 26,2005 | 35,000,000 {Wilshire
I. May 26,2005 | 10,000,000 {Coleman affiliate
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*K. June 7,2005 (Legitimately 880M shares to Aventura Holdings, Should be restricted for 1 yr if i am correct)
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It appears previous mgmt sold hundreds of Millions! of "unathorized shares and AVNT is suing to recover
Aventura Holdings (AVNT)
vs.
T. Joseph Coleman,
Peter Klamka, RTV Media Corp.,
The Coleman Family Trust,
Vega 7 Entertainment,
Wilshire Capital LTD.
**On March 15th 2005 the company filed form N-54A with the Securities Exchange commission to become a Business Development Company ("BDC")
**"The number of shares of common stock outstanding as of May 10, 2005 was 323,657,813"
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Aventura Holdings, Inc. Files Lawsuit Against Former Directors and Their Affiliates For Issuing Company Stock Absent Ascertainable Consideration
Tuesday January 3, 7:01 am ET
MIAMI, Jan. 3, 2006 (PRIMEZONE) -- Aventura Holdings, Inc. (OTC BB:AVNT.OB - News) (Frankfurt:WKN#570891) (``Aventura'') filed a lawsuit against T. Joseph Coleman, Peter Klamka, RTV Media Corp., The Coleman Family Trust, Vega 7 Entertainment and Wilshire Capital LTD. in the U.S. District Court in the Southern District of Florida. Aventura asserts that shortly before resigning as Officers and Directors of Aventura, T. Joseph Coleman and Peter Klamka issued Company shares to themselves and their affiliated entities absent ascertainable consideration.
As a Business Development Company, Aventura is governed under the Investment Company Act of 1940 which forbids issuing Company shares for services. Prior Management has suggested that the consideration was not cash or payment but services, conflicting with Section 23a of the Investment Company Act of 1940, the acceptance of which services would be in violation of such Federal law governing investment companies.
Aventura's lawsuit seeks return of improperly issued shares, judgment for amounts due, court costs and such other and further relief as the Court may deem proper.
About Aventura
Aventura Holdings, Inc. is a Business Development Company operating as an investment holding company. Aventura acquires and invests its assets to build an investment portfolio and enhance shareholder value. Aventura's mission is to provide capital and advisory services for management buyouts, recapitalizations, and the growth and capital needs of emerging companies. As a BDC, Aventura is positioned to raise capital for acquisitions and investments in a more efficient manner and to develop and expand its business interests. Although Aventura is currently concentrating its investment strategies in the telephony sector, plans are underway to divest from telephony and expand its potential acquisitions and investments to other lines of business and industry.
Contact:
Aventura Holdings, Inc.
(305) 937-2000
Info@Aventura-Holdings.com
URL: www*Aventura-Holdings*com
Source: aventura-holdings.com |
