Wake Setter
2 months ago
Bad news..
No matter what happens in the next few weeks, the CEO of PACV will never be trusted and has proven to be a terrible leader of a publicly traded company.
PACV has an agreement and court order with Trillium Partners concerning almost $10 million worth of common stock due to them for debts.
What is the status of this agreement? No idea. How much has been paid, if any, and when?
All I know is that if this court ordered agreement is still in progress, the CEO is playing a game with her companies stock.
If PACV gets delisted soon, which is days away, this agreement defaults.
I can't tell if the CEO is preparing for some sketchy market manipulation or if she is letting this default..
No matter what, Shannon is a trash person with personal bankruptcy's, horrible management skills and communication.
My opinion, of course.
https://www.sec.gov/ix?doc=/Archives/edgar/data/882800/000149315223038562/form8-k.htm
docj
3 months ago
From March. The last paragraph is beyond bizarre considering what is known publicly:
LOS ANGELES, CA / March 6, 2024 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (βPacific Venturesβ or the βCompanyβ), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced that, in furtherance of the success of its ongoing balance sheet restructuring, the Company has completed payments on its long-standing debt obligation to BNA Investment Capital, LLC and TRA Capital, LLC.
βWe are excited and proud to have paid off what started out as a $400,000 debt to BNA and TRA, and it reinforces our commitment to, and the success of, our ongoing balance sheet restructuring efforts,β stated Shannon Masjedi, President and CEO of Pacific Group Ventures.The fully repaid obligation to BNA Investment Capital and TRA Capital relates to a settlement agreement that arose from litigation that began in 2020.
βOur recent successes in restructuring our balance sheet have begun to yield increased cash flow available for our operations, which, we are convinced, will place our operating subsidiaries in a more favorable posture for increasing sales.β This further prepares and aligns with the Companyβs goal of moving to a higher trading platform in the near future.