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Crazy to buy at these high levels when this will likely drop like a rock after the RS.
It was deemed PACV had "defective corporate actions" on their reports, which in my opinion is fraud. PACV was filing old information that needed updated and FINRA denied the reverse split, and PACV claimed it was basically an accident.. It appears FINRA wanted signed copies from past executives (1989 - 2018) based on filed data from PACV, but that did not stop FINRA from approving the reverse split in 2020, so why now?
This 8k basically allows framework for PACV to "cure" this mistake. These type of actions would absolutely never happen on the NASDAQ, far too many attorneys that would eat PACV alive fighting lawsuits over this type of negligence.
PACV recently settled an enormous debt ( $7 million) using equity, approved a massive increase of authorized shares (800 million to 5 billion), and launched an expansion to online sales for their meat company. The CEO, in my opinion, had every intention of completing the reverse split. They have the share price down to 0.0001 with 4 billion shares to issue for debts, I thought for sure they were going to hammer this days before the split resets the structure. However, FINRA put a stop to this and now PACV is moving to plan B, which hopefully includes creating momentum with their existing structure.
This is my observation. I would absolutely NEVER trust this company ever again after the events we watched in the past 12 months.
I do believe that when FINRA approves this correction, that PACV will again file a new 14c to process the reverse split.
Is the RS canceled as per 8K the other day?
All part of the scam! Good question for Shannon Masjedi who lives an incredibly lavish lifestyle. Odd isn’t it.
Nearly 3 years since this was released. How about a end of year/new year update????
https://pacvgroup.com/pacific-ventures-group-provides-strategic-plan-and-synergies-for-its-recent-acquisition-of-seaport-meat-company/
So, how have they been able to do the last RS? Looks like FINRA refused to file RS based on incorrect company filing of insiders?
Why leave the RS hanging over shareholders head. You either are or your are not. If not, let shareholders know. CEO is a real piece of work. Best thing that could happen for t his company is she step down and allow someone competent enough to manage and run this business operation.
It is a possibility.
What will the reverse split be, anyone?? Tia
It is possible that FINRA bursts their bubble and denies the Reverse split. Don't they have a 90 day window from filing, to get the RS done?
What a POS .0001's coming up tomorrow. Then no bid and R/S and back to .0001
not sure what steaks you purchased online pacv but if it was filet mignon our pricing blows away what meriweather farms,wyoming offers hormone free as they advertise on steve bannons warroom[rav].so with the right advertising seaport steaks should take off .bigly. appears there is a sizable market for online quality
steaks?imo
https://meriwetherfarms.com/products/filet-mignon-box?variant=47461996232981
pacv seaport steak pricing for filet mignon
https://seaportsteak.com/product/us-domestic-choice-filet-mignon-8-10-ounces/
Enjoy, doc
Thanks for sharing.
Got a nice personal thank you email from Aden Masjedi an account rep at Seaport Steaks. I also got my order of meat and seafood delivered. It was well packed, still quite frozen and came in a nice insulated bag with a zipper. It will come in handy keeping food hot/cold.
Apparently I was pretty early in line placing an order from the public platform. I'll let you guys know how the food cooks up.
The company is 26 million in debt and is run by the most useless piece of shit CEO on the planet. Even if you think the .0002 is a deal it’s not. She will reverse split and your shares will be worth way less. Invest elsewhere, Shannon Masjedi is a scam artist and will be sued big time for her lies!!!
Yeah, I confirmed Chesapeake hasn't been working with PACV since the summer. PACV didn't give them much to work with.
CEO Shannon Masjedi: Dwindling Fortunes and Failed Promises
CEO Shannon Masjedi's $9.2 million shares for Trillium Partners face weak demand, priced at $0.0002-$0.0003. If shares drop to $0.0001, a reverse stock split, filed on 08/25/23, is likely. This could further reduce the price per share (pps), trapping Masjedi in a cycle of discount share issuance in a demand-less market.
Masjedi's unmet promises of acquisitions, transparency, and uplisting have eroded shareholder trust, as evidenced by the lack of follow-through on commitments made in this press release: https://finance.yahoo.com/news/pacific-ventures-issues-shareholder-letter-133000589.html
If Masjedi eventually uplists PACV, after diluting many out of ownership, I plan to take a significant short position, expecting her to repeat past failures.
Additionally, Masjedi's recent disengagement with another Investor Relations firm, without shareholder communication, further demonstrates her questionable governance.
Sincerely,
A long-time shareholder, enduring value erosion and averaging down post-reverse split.
No bid more likely unfortunately.
if true thats hugh?
National tv and radio commercials
" LA vegan restaurants are putting meat back on the menu"
https://www.sfgate.com/la/article/vegan-restaurants-adding-meat-los-angeles-18527772.php
I'm not in their local TV market but I doubt it.
todays press release is linked directly to the pacific venture group inc website
https://pacvgroup.com/pacific-ventures-seaport-meat-company-launches-direct-to-customer-online-sales-platform/
I am going on an assumption there is a parent/holding company subsidiary and another subsidiary situation going on. Be nice if anyone could get a clarification from PACV management.
scroll down to bottom page address for seaport steak same for snobar and pacv 117 W. 9th St,
Los Angeles CA 90015
https://seaportsteak.com/shop/
Wrong company! They are not affiliated with PACV, at all. Call them and they will tell you what they told me, last Summer when someone posted the same link!
SEAPORT STEAK to order here. FREE SHIPPING for orders over $149.
https://seaportsteak.com/shop/
It is ok now. I placed an order for some steaks, scallops and fish. Goodness knows they could use the sales.
Tried to place an order and it still states no shipping option available for my location. Curious if others have same issue.
continued:
SeaportSteak.com features an array of Australian Wagyu beef cuts, including a boneless ribeye (pictured), Japanese Wagyu beef cuts and U.S. Domestic Choice beef cuts, all of which are 100% grass-fed, grain-finished beef.
True to its name, SeaportSteak.com also features the highest quality Atlantic Cod, Colossal Shrimp, Salmon and Scallops, all delivered fresh to the door.
The balance of SeaportSteak.com‘s product offerings include hormone-free and antibiotic-free chicken, including family-pack options, and pork.
LOS ANGELES, CA / December 4, 2023 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced that its Seaport Meat Company subsidiary has entered the direct-to-customer market, with the launch of its fully-operational SeaportSteak.com online sales platform.
“We are excited to enter the tech space, an ever-emerging space for online direct-to-customer food delivery services. We are confident that SeaportSteak.com‘s 100% Natural, Directly-From-The-Farmer meats and proteins will be as well received in our customers’ kitchens as they have been over the years in commercial kitchens,” stated Shannon Masjedi, President and CEO of Pacific Group Ventures. “SeaportSteak.com sources its meats from the best farms in the world and the highest quality purveyors, to assure unwavering product quality for our customers,” Ms. Masjedi concluded.
.0003 is still way to high of a price for a company that is $26 million in debt. Horribly run company with a lazy CEO.
I believe the company had to implement the RS within 90 days of the DEF14C filing, July 19, 2023
"to implement a reverse split in a ratio and at a time and date to be determined by the Company’s Board of Directors, not to exceed a one-for-two-hundred-fifty (1:250) basis, within ninety (90) days from the date of the filing with the SEC of the Company’s Definitive Information Statement on Schedule 14C (the “Reverse Split”)."
This action had to be implemented by Oct 19th to become effective, at least that is how I read it. I could be wrong.
$.0003 looks like a good loading opportunity, JMO
All we can hope for at this point is that Shannon Masjedi acknowledges her failures as a CEO, declares bankruptcy and a new company who wants to go public takes over this ticker. Shannon will still profit, as we know she only cares about her personal net worth. I hate to see her profit off her laziness and inability to run a business but it’s the only way any of us will even gain back a minuscule amount of our losses.
Correct but many don’t know that and also that group can only have 1/10 outstanding shares at any given time so it will take long time or forever for them to get their shares - they got screwed by PACV and PACV doesn’t care they don’t care about anyone but themselves very selfish people if I ever see them man look out
The float right now is not unreasonable and it might not bloat so much in the mid term.
Just keep in mind that they settled a $10mm+ debt for 9 billion is shares under a court administered 3A10. That is going to kill any positive news, which really never comes out
I was wondering the same thing. I don't own any shares but was thinking of buying here. What scares me is that filing to FINRA in late August to get approved for a 1:250 RS.
As was questioned by someone else here - why do that? It seems really strange - wouldn't that make the new OS like 3.9 million or so?
the only good I see is the ratio of expenses to revenues has improved even with the lower revenues which really shouldnt happen but it is better for the bottom line where the actual loss is lower for the quarter especially but also the nine months. Its the interest expense, which has also gone down, that literally kills the company
Meanwhile the share trading volume is through the roof today at 90 million shares, and the market cap of $300K is nothing, so, as bad as it is, they are an operating company serving lots of customers which should be of some value for the stock, and I am surprised that it has come down this low, I really thought .008 was going to be the low but I was wrong.
Another crappy Q, sales are way, margin is shrinking, still loaded with debt and payables are stretch beyond control.
Also found this little nugget. I fthey screw up this relationship, its over
When is the rs taking place in the def c in filings a few months ago?
The CEO Shannon Masjedi is pure garbage. She will definitely do a reverse split. She has mastered the art of lying to her investors. The stock has dropped from .10 all the way down to a low of .0002. What an absolute failure.
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