MIAMI, October 30, 2015 /PRNewswire/ --
Healthy & Tasty Brands Corporation (the "Company") (OTC: GRLT) today announced that its CEO, Henry L. Klein, filed an action in the United States District Court for the Southern District of Florida in his fiduciary capacity for the protection of the common stock shareholders, seeking a declaratory judgment by that federal court to the effect that all convertible instruments which have been the source of common stock dilution are void and unenforceable.
In the lawsuit, Mr. Klein described the instruments, both convertible shares and convertible debentures as "...death spiral convertibles", because holders of these toxic instruments profit when the market price is manipulated to remain low, allowing conversion to be prohibitively-high number of shares, severely diluting the value of the common shares of the company..."
Mr. Klein quoted compelling language by Fordham University Professor of Finance John D. Finnerty and the United States Supreme Court regarding his duty to bring the action for the protection of the common stock shareholders and expose manipulative short-selling. Since becoming CEO, Mr. Klein quietly undertook an investigation into the fiscal condition of the Company and determined that the Company needed to be completely purged of the toxic instruments so that it could grow and flourish in the culinary marketplace and in the investment world.
"The filing of this action is the beginning of the rebirth of the Company and a harbinger of restaurant-openings soon to take place in the various states from Florida to Colorado. The days of market manipulation are over and the loyal initial owners of the Company will begin to see a bright horizon," Mr. Klein emphasized.
Healthy & Tasty Brands Restaurant & Bar Concept
We serve fresh, flavorful, exotic, and healthy food with a Latin flair. Our Central and South American neighbors bring our menu the "Wow!" flavor factor.
Our mission is to use whole, unprocessed, real foods, the freshest ingredients, and - most importantly -local produce, as much as possible. We feature healthy breakfast options, premium salads, pasta, seafood, grass fed steak, chicken breast, grass fed buffalo burgers, an exciting line of Hawaiian roll sandwiches and wraps, smoothies, agua frescas, deserts, appetizers, and many more delicious food and alcoholic beverage for you to choose from.
We aspire to inspire your taste buds anytime during your visit with us.
Forward Looking Statements:
Statements in this press release that are not purely historical facts, including statements regarding Healthy & Tasty Brands' beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1996. Such statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "plan", "may", "expect", "anticipate", "intend", "estimate" or "continue" or the negative thereof or other variations thereof or comparable terminology. The reader is cautioned that all forward-looking statements are speculative, and there are certain risks and uncertainties that could cause actual events or results to differ from those referred to in such forward-looking statements. This disclosure highlights some of the important risks regarding our business. Specifically, the reader should not place undue reliance on statements regarding our retained consultants to increase franchise sales in their targeted franchise markets. Additionally, there are number of other risk factors relating to our business more fully explained identified by us in our filings with the OTC Markets, which are available through http://www.otcmarkets.com.
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SOURCE Healthy & Tasty Brands Corporation