Soupman, Inc. (OTC Pink: SOUPQ) is engaged as a premium soup maker, whose claim to fame is the “Soup Nazi” from Seinfeld. Shares of the soup maker are skyrocketing 245.45%, through early trading on Tuesday, August 22, 2017. Over the past month, shares of the Soupman, Inc. have seen average daily volume of 802,821 shares. However, volume of 2.91 million shares or dollar volume of $11,058, has already exchanged hands on Tuesday.
Shares of Soupman, Inc. are surging today, after the company filed an 8-K form, detailing of WealthColony Management Group, LLC’s effort to achieve a 51% stake in the bankrupt soap maker. The investor notes it plans to remove current directors and elect new managers, once the 51% control is achieved. Here is part of the 8-K detailing of the proposed takeover:
Soupman, Inc. 8-K Filing:
The Company received a letter dated August 18, 2017 from Jeffrey Freedman, Manager of WealthColony Management Group, LLC on behalf of WealthColony SPV II, L.P. (collectively “ WealthColony ”) in connection with WealthColony’s sixth amendment to its Schedule 13D filed with the Securities and Exchange Commission on August 18, 2017. In the letter, WealthColony purports to (i) have obtained consents totaling approximately 51% of the voting power of Soupman, Inc.’s (the “ Company ”) outstanding capital stock, (ii) remove the current directors of the Company via written consent, and (iii) elect new directors to the Company’s board of directors via written consent.
On August 21, 2017, the Company sent a letter to WealthColony requesting further evidence of how WealthColony purports to have achieved approximately 51% of the Company’s outstanding capital stock and denying the validity of WealthColony’s actions by written consent for multiple reasons. A copy of the response letter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Financial Statements and Exhibits.
|99.1||August 21, 2017 Response Letter|
Here is the link to the full 8-K form: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12245295