August 21, 2013 11:07 ET

EQCO2 Denies Statements in Crown Equity Press Release and Suspects Improper Trading of EQCO2 Shares

LAS VEGAS, NV--(Marketwired - Aug 21, 2013) - EQCO2, Inc. (FKA Cleantech Transit, Inc.) (OTCQB: CLNOD) today responds to the allegedly false statements and misrepresentations disseminated by Crown Equity Holdings, Inc. in its recent press release.

EQCO2, Inc., Billy Barnwell, Shad Sullivan, and Arnold F. Sock each deny the allegations, which they assert to be misstatements, and obfuscations of true facts made by Crown.

EQCO2 and the named individuals are considering taking legal action against Crown and others involved. EQCO2 welcomes an investigation by the FBI, the SEC, and FINRA and requests an investigation of the trading of EQCO2's stock.

Based on information and belief, EQCO2 suspects that Hassan Zaman (AKA Mike Zaman), a person barred by the SEC from association with any stock broker used inside information from his wife, Montse to manipulate EQCO2's share price, explaining the shares' unprecedented rise and fall. The SEC's order is at Montse Zaman, is an officer and director of EQCO2 and Crown. EQCO2 believes that Zaman uses his wife to control Crown and many stock promotion websites, all of which he actually controls.

Billy Barnwell, Shad Sullivan, and Arnold F. Sock unequivocally state for the record that they never traded any shares of EQCO2, directly, indirectly, or through the auspices of others.

Discovery will vigorously fight any attempt to rescind the transaction and will take every action available to it under the law to protect its interests and the interests of its shareholders. 

Safe Harbor Statement: This news release includes forward-looking statements pertaining to future anticipated projected plans, performance and developments, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Any statements on this news release that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. Similarly, statements in this news release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.