Doogs1
2 years ago
Here you go Sir,
DAVID LIEBRADER, ESQ.
STATE BAR NO. 5048
THE LAW OFFICES OF DAVID LIEBRADER
3960 HOWARD HUGHES PARKWAY STE. 500
LAS VEGAS, NV 89169
PH: (702) 380-3131
Attorney for Plaintiff
DISTRICT COURT
CLARK COUNTY, NEVADA
IN THE MATTER BETWEEN
Craig Dougall and Pacific Blue Ventures, LLC
PLAINTIFFS
v.
Stephen H. Watkins, Paul Landrew, Entrex
Carbon Market, LLC, Entrex Echain, LLC,
Entrex, Inc., Universal Solar Technology, Inc.
and DOES 1-10 and ROE Corporations 1-10,
DEFENDANTS
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Case No. A-22-854790-C
Dept.: 21
FINDINGS OF FACT AND
DEFAULT JUDGMENT
DEFAULT JUDGMENT
Plaintiff Craig Dougall’s motion for default judgment against Defendants
Stephen H. Watkins, Paul Landrew, Entrex Carbon Market, LLC, Entrex Echain, LLC,
Entrex, Inc. and Universal Solar Technology, Inc. came on for hearing before the
Court on March 15, 2023, the Hon. Michael Cherry presiding. Appearing for Plaintiffs
was David Liebrader. Plaintiff Craig Dougall was also present, was sworn, and
testified. There were no other appearances.
The Court finds that Plaintiff has proven by a preponderance of the evidence that
in March, 2021, Plaintiff Craig Dougall was solicited by Defendant Stephen Watkins
Electronically Filed
03/27/2023 3:40 PM
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to participate in a real estate transaction involving Mr. Watkins’ company Entrex.
As part of the inducement to convince Plaintiff to invest, Mr. Watkins told
Plaintiff that Entrex had merged with publicly traded company, Universal Solar
Technology Inc. (“UNSS”), and that UNSS would issue Plaintiff $250,000 worth of
shares as part of a PIPE securities transaction, which Plaintiff was free to sell at any
time.
Mr. Watkins told Plaintiff that it would only take three or four days to issue the
UNSS shares. Based on the representations of a completed merger, and the promise
to issue shares as collateral for Plaintiff’s full $250,000 investment, Plaintiff agreed
to invest. The parties then completed all the necessary documentation to complete
the transaction.
On March 26, 2021 Plaintiff wired $250,000 to Entrex as directed by Mr.
Watkins. Unfortunately Defendants failed to issue the shares as promised.
In March, 2022 Entrex announced that the merger with UNSS had been
terminated. Plaintiff testified at the default judgment prove up hearing that the
primary reason that he invested was based on Mr. Watkins’ representation of a
completed Entrex-UNSS merger, which was false. After learning this, Plaintiff
contacted Defendants and demanded a return of his investment funds.
To date Defendants have refused to return Plaintiff’s funds.
UNSS is a Nevada corporation, and the UNSS PIPE transaction that Plaintiff
invested in involved the sale of securities. Because Plaintiff was induced to invest
based upon the materially false representation of a completed merger, Defendants
violated NRS §§90.570 and 90.660 by offering and selling the securities to Plaintiff.
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Pursuant to NRS §90.600 Defendants are liable, jointly and severally to Plaintiff
as sellers, control person and/or material aiders for the sale of securities based upon
material misrepresentations of fact.
Pursuant to NRS §90.660 Plaintiff is entitled to damages of $372,178; comprised
of his principal investment of $250,000, interest at the legal rate of $27,658, costs
necessarily incurred in the amount of $2,060, and attorney’s fees in the amount of
$92,460. The Court finds that in requesting attorney’s fees pursuant to NRS
§90.660, Plaintiff’s counsel has recited and met the Brunzell factors.
Wherefore it is hereby Ordered that Plaintiff Craig Dougall shall have judgment
against Defendants Stephen H. Watkins, Paul Landrew, Entrex Carbon Market, LLC,
Entrex Echain, LLC, Entrex, Inc., Universal Solar Technology, Inc. in the amount of
$372,178. The Judgment is joint and several, and shall accrue interest until paid in
full.
IT IS SO ORDERED
__________________________________
Judge, District Court
ATM123
2 years ago
https://blockchain.entrexcarbonmarket.com/EntrexNewsFAQs.nsf/0/B5165034FD1BA7E4852589800059EFD2/%24File/2023-03-27%20-%20Entrex%20announces%20Entrex%20Carbon%20Market%20merger%20with%20Public%20Company.pdf?Open
FOR IMMEDIATE RELEASE
Entrex announces the Entrex Carbon Market merger And Operations with Public Company
Boca Raton, FL, March 27, 2023: Entrex Holding Company today announced, the Entrex Carbon Market, its majority owned subsidiary, operations and merger agreement with the public company (OTC:RGLG).
Pursuant to the OTC filings “...the Company entered into an agreement to acquire Entrex Carbon Market, LLC (“Entrex”) as a wholly owned subsidiary pursuant to a share exchange agreement, Entrex began operating as a wholly owned subsidiary of the Company.” (filing)
In an effort to further mature it’s OTC listing to a fulling reporting company status the filing continues: “as demonstrated by its sales activity showing revenue for each of the forgoing periods of $6,712,917, $24,585,465 and $55,912,837, respectively”. And continues: assets on the “Balance Sheets that total $106,771,597, 169,240,548 and $186,202,378 for the periods ending August 31, 2022, November 30, 2022 and February 28, 2023, respectively.”
“Moving the Entrex Carbon Market forward within the public RGLG structure can launch and enhance operating initiatives while providing the foundation to maximize our investor’s shareholder interests.” said Stephen H. Watkins CEO of the Entrex Holding Company; previously the majority shareholder of the Entrex Carbon Market.
Tom Harblin, Executive Vice President of Sales for the Entrex Carbon Market adds: “Gaining corporate credibility in the public markets adds to our origination and launch of the first tradable CO-SETT security for the public company audience. The CO-SETT (The carbon offset dividend producing asset) is the first tradable carbon offset asset which offers companies the ability of moving carbon offsets from an expense to a carbon offset dividend producing asset on their balance sheet.”
Harblin continues: “The CO-SETT accounting treatment and benefits have initiated tremendous activity from the 10,000 public companies who look to maximize their portion of the $200 billion in lost shareholder value from their carbon offset expense – the Entrex CO-SETT allows them to gain their shareholder value back -- while maintaining their focus on carbon neutrality”.
About Entrex:
Entrex Holding Company, LLC (EHCo, LLC) was founded in 2001 as a capital market system for entrepreneurial companies. The company establishes regulatory-compliant niche capital market systems which support regulated market constituents in originating, structuring, placing, trading, settling and servicing securities of entrepreneurial companies. Working together with industry leaders, Entrex platforms allow investors to find, research, track, manage, and trade entrepreneurial securities by geography, sector or commodity. Entrex Carbon Market, LLC previously a majority-owned subsidiary of Entrex Holding Company and has merged pursuant to agreement into OTC:RGLG.
For further information: Stephen H. Watkins, CEO, Entrex Carbon Market, (561) 465-7580
Entrex Holding Company • 150 East Palmetto Park • Eighth Floor • Boca Raton, FL 33432 (561) 465-7580 • www.entrex.net