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- FORT LAUDERDALE - Natural Harmony Foods, Inc. announced today material changes to the Board of Directors and Management of the Company.
Effectively immediately, Daniel A. Carr has resigned from the position of Director and the "interim" CEO and President of the Company, and Danny Pate from the position of Director, respectively. Both parties cited their decision was based due in part to the lack of "full" disclosure by the former President and CEO, Sam Dewar with regards to the Company's overall financial condition and outstanding liabilities, including, but, not limited to, certain legal actions against the Company and other personal reasons.
Since the resignation of Sam Dewar, it was further disclosed by Mr. Dewar that the Company is also a named Defendant in a $50,000 lawsuit and that a previous judgment for approximately $17,000, was adjusted to approximately $34,000, due to defaults on settlement payments. These additional financial obligations of the Company now brings the total liabilities of the Company to approximately $400,000, and could be more with other obligations that have yet to be disclosed or brought to the attention of the Company. In light of these circumstances, it is uncertain at this time if the Company will be able to continue to operate.
Manual Schapiro, the Company's sole Director, will oversee the continual operations of the Company.
About Natural Harmony Foods, Inc.
Natural Harmony Foods, Inc. (PINKSHEETS: NHYF) is an independent, new food company dedicated to producing healthful, flavorful foods that fit the lifestyles of individuals looking to make better, health conscious diet choices without sacrificing taste. We have combined the taste and nutrition of beef and pork with the health benefits of soy in our SoLean® brand foods. SoLean® Flame Broiled Beef Patties, SoLean® Fully Cooked Pork Patties, SoLean® Cheeseburgers, and SoLean® Sausage Egg Muffin Sandwiches are 95% fat-free, high protein blends of lean grounds meat and heart-healthy soy protein. |