ARUNDEL, QUEENSLAND, AUSTRALIA / ACCESSWIRE / March 10, 2024 / China Dasheng Biotechnology Co. (OTC PINK:CDBT) as disclosed, holds transport assets and operations in their normal course of business.
On April 19, 2023, CDBT released a press release disclosing the Queensland Police Fraud Division investigation into Cameron James Smith, a previous director of CDBT's transport operations, fraudulent misconduct deceiving clients into making direct payments into personal and Horse Racing Syndicate bank accounts.
On June 5, 2023, CDBT released a press release disclosing transport location and expansion changes directly relative to requests from Moxy Logistics and Disruptive Packaging.
During the fourth quarter of 2023, the Queensland Police Criminal investigation increased and the relationship between Moxy Logistics, Disruptive Packaging and CDBT's transport operations became commercially frustrated.
The syndicate holders and founders of the Horse Racing Syndicate, which was funded by embezzled funds from CDBT's transport operations, are Mark Bennet, Mark Delafosse, and Julian Delafosse, who hold management roles in Moxy Logistics and Disruptive Packaging.
"It is simply not tenable or realistic to have the very people under investigation for fraud, managing transport work allocation and payment for services rendered" said CDBT CEO, Micheal Nugent, "Our operations staff experienced extorsion, deliberate interference and delayed payments".
CDBT transport operations relocated late February 2024, expanded further, and consolidated client relationships, and is curating damages claims against Moxy Logistics and Disruptive Packaging with legal counsel.
/S/ Micheal Nugent
CEO of CDBT
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CDBT. Cycclone Magnetic Engines, Inc.
On April 24, 2023, CDBT entered an Share Exchange Agreement to acquire all of the outstanding shares in Cycclone Magnetic Engines, Inc., the original founding company of the Cycclone Magnetic Engine project.
On September 30, 2022, CDBT and Cycclone Magnetic Engine Developments Limited entered into an Operating Agreement for The Amended Share Exchange Agreement giving effective control of Cycclone Magnetic Engine Developments Limited and the wholly owned subsidiaries.
Cycclone Magnetic Engines is engaged in the development and commercialization of new geometric configuration low carbon emission engines and other clean technology solutions with a view to create technologies that improve efficiency and reduce levels of greenhouse emissions. Cycclone has shareholding, assets, and interests in transport operations in Australia.
Micheal Nugent
mnugent@nugent.com.au
www.cdbtcycclone.com
+61438158688
Safe Harbor Statement
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Risk factors that could cause actual results to differ materially from those projected in forward-looking statements include, but are not limited to, general business conditions, managing growth, and political and other business risks.
SOURCE: China Dasheng Biotechnology Co.
View the original press release on accesswire.com
