AmeriDreamEntertainment Inc. Says Four Documents Recently Filed with the SEC Are Invalid.Entertainment Editors/Business Editors PALM SPRINGS, Calif.--(BUSINESS WIRE)--April 16, 2003 AmeriDreamEntertainment Inc. (Pink Sheets:AMDR AMDR Association of Medical Device Reprocessors AMDR Acceptable Macronutrient Distribution Ranges (nutrition) AMDR Air and Missile Defense Radar ) today announced it has just learned that its former attorney, Kenneth Eade, has recently filed four documents with the Securities and Exchange Commission purportedly on behalf of the public company. Lang Elliott, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AmeriDreamEntertainment Inc., stated that Eade has no authority to take any action on behalf of the company. While the shareholders of Ameri-Dream Entertainment Inc., the Nevada private company, have announced that they have rescinded their prior exchange of stock with McSmoothies Inc., there has been no action with respect to transferring any shares of common stock in the company to Modern Health Care Holdings Ltd. and no shares of stock have reverted to them. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Elliott, Modern Health Care is not entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive any shares as a result of the rescission The abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed. By Agreement . The transaction that was rescinded was a transaction between the shareholders of the privately held Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. on the one hand and McSmoothies Inc., the California public corporation, on the other. Modern Health Care does not own any shares of stock of AmeriDreamEntertainment Inc. and therefore has no standing to instruct Eade to take any action on behalf of the company. While AmeriDreamEntertainment Inc. stated in a March 7, 2003, news release that its officers and directors had resigned, Elliot has remained as an officer and director until such time as it can file certain forms with the Securities and Exchange Commission that it believes are necessary. As of this date, the company has not been able to file such forms because Eade has not provided necessary filing numbers to the company. Since the company believes that Eade and others have committed violations of the securities laws, it is endeavoring to prevent further damage to its shareholders. |
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