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by CEO/Chairman of the Board - Ken Hollowell
Wednesday, Aug. 22, 2007 at 5:47 PM
On December 5, 2006, LA Entertainment Works, Inc. was formed and licensed as the exclusive licensee of the name Los Angeles Music Awards through a royalty agreement signed by Al Bowman. The original shareholders were Al Bowman who was the majority shareholder, Ken Hollowell, Jim DeCicco and Marcus Barcroft all were minority shareholders. The corporation with all shareholders present elected its Board of Directors and Officers of the Company.
Within two weeks of the formation and the implementation of the Board Bowman began complaining that his company had been stolen from him and his hands were tied. The major issue for the past 9 months has been Al Bowman unwillingness to work within the scope and bounds of a corporate structure and has refused to be a team player with the Company. He has persisted in demonstrating hostile acts and what might be considered breach of fiduciary duties as a Director in the Company. During various Board Meetings, Al Bowman has been reprimanded for his lack of cooperation and willingness to work within the Company. During the first quarter of the year, a particular sponsor paid ,000 to the Los Angeles Music Awards which Al Bowman cashed at a Cash Checking Store and used for his own personal gain. When confronted with his actions Bowman did not seem to understand either embezzlement of funds or conversion of funds. He stated to the Board of Directors that he would not do it again and apologized for his actions. However, during the month of June, he converted yet another check made out to the Los Angeles Music Awards from a performer for a partial payment of ,500 and used the funds for his personal use.
There is a strong possibility that Al Bowman has received additional funds belonging to the Los Angeles Music Awards and used them also for his personal use. Investigations for on-going at this time. LA Entertainment Works, Inc. because of rumors, lies and falsehoods spread by Al Bowman over the past weeks was forced to hire a law firm to represent the Company and its shareholders and investors. No lawsuit has been filed as of this date and lawyers between the Company and Al Bowman are discussing the possibility of mediation. If mediation does not work because of Al Bowman’s unwillingness to resolve the differences, then the Company will have no choice but to seek remedies to the fullest extent of the law.
On August 10, 2007, the law firm of Zuber & Taillieu LLP and legal counsel Josh Lawler, Esq. wrote Al Bowman lawyer listing numerous complaints, malicious acts, false statements and interference of the business activities of the Company.
On August 15, 2007, an individual who was nameless, but indicated themselves as “losangelestruthbringer” posted a very defamatory posting indication that 3 of the Directors and Officers of the Los Angeles Music Awards were “scam artists” with other false statements regarding the management of the Company.
I want to assure any reader, performer, sponsor or artists that the 17th Annual Los Angeles Music Awards is being held at the Music Box in Hollywood, California on November 29, 2007.
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