SAN DIEGO, Jan. 13, 2010 (GLOBE NEWSWIRE) -- George A. Sharp who claims to have a controlling interest in the public company formerly known as Principal Capital Group Inc. and now trading as Gazoo Energy Group, Inc. (OTCBB:GAZU), announced today that the purported CEO, Chip Hackley, has been informed by Attorney David J. Harter of Mr. Sharp's intent to retrieve control of the company in a court of law. In his letter, Mr. Harter warned Mr. Hackley that Mr. Sharp never relinquished his control and any stock issuances, board resolutions, or contracts signed by Gazoo or its agents, have been unauthorized and will be reversed by Mr. Sharp.
Mr. Sharp commented, "The changing of the name of the company to Gazoo Energy Group, Inc., changing the company's lines of business, the naming of the officers, and the designation of the Board of Directors have all been done without my authorization as majority shareholder, and I intend to undo all that Mr. Hackley's group has done."
Mr. Hackley has been given the option of purchasing Mr. Sharp's interest in the company if a mutually agreeable conclusion can be negotiated.