$563,396.72 judgment entered by the U.S. District Court for the Southern District of New York remains unpaid
NEW YORK CITY, NY / ACCESS Newswire / October 27, 2026 / Joseph C. Canouse today announced that the judgment entered in his favor against Protext Mobility, Inc. (aka Protext Pharma, Inc.) (OTCID:TXTM) (the “Company”) remains unpaid and unsatisfied. A copy of the judgment is attached to this release.
On November 19, 2019, the United States District Court for the Southern District of New York (Hon. Louis L. Stanton) entered a default judgment against the Company in the amount of $563,396.72 in Canouse v. Protext Mobility, Inc., No. 18-cv-03610 (LLS) (S.D.N.Y.). The Company’s motion to set aside the judgment was denied on May 20, 2022, and the United States Court of Appeals for the Second Circuit affirmed that denial on May 17, 2023. A separate action the Company filed against Mr. Canouse in Miami-Dade County, Florida, was dismissed in October 2023.
The judgment, together with post-judgment interest under 28 U.S.C. § 1961, totaled $626,236.73. Mr. Canouse has received no payment on the judgment and has not settled or released it.
In Note 5 to its unaudited Annual Report for the year ended December 31, 2025, as filed with OTC Markets Group Inc., the Company described the judgment and stated that the obligation “was settled in 2025,” and it reported a gain on debt extinguishment of $563,471 for that year. Mr. Canouse was not a party to any settlement of the judgment. The Company’s Quarterly Report for the period ended June 30, 2026 does not refer to the judgment.
On September 18, 2026, counsel for Mr. Canouse demanded that the Company pay the judgment and file a corrected Quarterly Report by October 2, 2026. As of the date of this release, the Company has not paid the judgment or filed a corrected report. Mr. Canouse intends to pursue all available judgment-enforcement remedies.
“The judgment has never been paid, and I have never settled it,” said Mr. Canouse.
About This Release
This release is issued by Joseph C. Canouse, a judgment creditor of the Company, and not by or on behalf of the Company. The information in this release is drawn from public court records and from the Company’s filings with OTC Markets Group Inc. Mr. Canouse does not hold, and has no short position in, any securities of the Company. This release is not investment advice or a recommendation to buy or sell any security.
Joseph C. Canouse
800 Cooper Sandy Cv
Alpharetta GA 30004
P: 404-444-7855
SOURCE: Joseph C Canouse
View the original press release on ACCESS Newswire
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