Opinion
Case No. 2:04CV00587.
June 25, 2004
Jeffrey L. Silvestrini, Edward T. Vasquez, COHNE, RAPPAPORT SEGAL, P.C., Salt Lake City, UT.
Clell I. Cunningham, OBA, Dunn Swan Cunningham, P.C., Oklahoma City, Oklahoma, Co-counsel for Plaintiffs.
TEMPORARY RESTRAINING ORDER
Based upon the ex parte Motion of the Plaintiff for a Temporary Restraining Order and the Verified Complaint filed herein and good cause appearing therefore
IT IS HEREBY ORDERED.
1. Interwest Transfer Company, its agents, employees, attorneys and assigns are is hereby enjoined from transferring, certificating or otherwise authorizing the sale, reissuance, delivery or redelivery of certificate no. 4845 representing 100,000 shares of common stock of Amerityre Corporation or any other certificate representing the shares of Amerityre Corporation delivered by or traceable to William Watkins. Rather Interwest Transfer Company is ordered to hold and safe keep such certificate or shares pending further order of this Court.
2. This Order is issued without notice for the reason that the Plaintiff has represented to the Court that stock certificate 4845 has been re-presented to the transfer agent for re-issue to the Depository Trust Clearing Corporation ("DTCC") and/or its nominee CD Co., and once the stock is reissued it may become freely tradeable and Plaintiff may lose his ability to recover the stock.
3. The harm threatened to the Plaintiff is irreparable in that once the stock becomes freely tradeable he may lose his ability to recover his stock.
4. The harm threatened is immediate in that the transfer agent must act on the request for reissue/transfer within 72 hours and Plaintiff is informed that the certificate was presented to the transfer agent for reissue/transfer on June 24, 2004.
5. Therefore it appears there is good cause to issue a Temporary Restraining Order, without notice to the Defendants.
6. This Order shall remain in effect for a period of 10 days from the date of issuance unless extended by further order of this court.
7. This matter is set for further hearing for 10 A.M. 2004,July 9, 2004 o'clock __.m. to determine whether the Temporary Restraining Order issued herein shall be extended or become a Preliminary Injunction in this matter.
8. The Plaintiff is required to post security in the amount of $2500 for the payment of such costs and damages as may be incurred or suffered by any party who is found to be wrongfully enjoined or restrained hereby.