All State Properties Holdings Inc. disclosed that it is pursuing legal remedies in connection with the filing of an unauthorized Form 8-K in January 2016.
The document, filed by "someone without any authorization from the Company," indicated that Wayne Mower was appointed interim CFO and a director by Robert Kropf, identified in the filing as a majority shareholder. All State Properties said that Kropf was never a majority shareholder and that Mower's appointment was not authorized. Mower, whose title on the document is CEO, signed the document.
The filing also indicated that the company planned to conduct a 7,500-for-1 reverse stock split, which it said is also incorrect.
The same person further filed a Form 15 notice of termination of registration, which the company said they were not authorized to do. Mower, with the title of president, signed that document.
All State Properties clarified that it does not have plans to file a Form 15.