$PJET DD AmeriCanna Cafe - Illegal Burger + Dividend for USMJ Holders
Dear Mr. Ghost Please review the following Details Regarding what i have found for $PJET below.
List of Pending Items:
Filings: ( Which is already completed for Submission. Waiting for OTC Markets Review for Acceptance)
AmeriCanna Cafe Launch:
Dividend for $USMJ:
WCVC Acquisition Details:
USMJ and PURA are sister companies sharing the same majority shareholder, ACI Conglomerated. In the 4th quarter of 2018, USMJ sold its AmeriCanna Cafe Restaurant business to an independently listed public holding company as part of a strategy to support the restaurant business with a dedicated public equity. The independently listed public holding company is Priority Aviation (USOTC: PJET). The transaction between USMJ and PJET includes a name change for PJET and a dividend of PJET shares to USMJ shareholders. Similarly, PURA sold its cannabis cultivation subsidiary to Nouveau (USOTC: NOUV). The PURA and NOUV transaction also includes a dividend of NOUV shares to PURA shareholders. The execution of the dividends is taking longer than anticipated, but the plans have not changed. The update below provides more details on the current status and progress of the two dividend distributions to include additional updates on the overall business.
$WCVC and $USMJ entered into an agreement last year where WCVC agreed to manage the rollout in Denver of the AmeriCanna Cafe, founded by USMJ and spun-off into an independently listed public company. The independently listed company is Priority Aviation (USOTC: PJET) and a name change is pending in conjunction with the new cannabis restaurant business. Since entering into the partnership with USMJ, WCVC has begun carrying EVERx CBD Sports Water at WCVC’s Illegal Burger restaurants. EVERx is a product produced by USMJ sister company Puration, Inc. (USOTC: PURA) (“PURA”). WVCV is on track to manage the rollout of the AmeriCanna Cafe this spring. Between the robust sales of EVERx and the response WCVC has had to their role in the AmeriCanna Cafe project, WCVC has decided to advance the relationship into an equity partnership so WCVC shareholders can benefit from the equity appreciation of the cannabis business WCVC is already managing. WCVC and USMJ expect to announce the details of their partnership in conjunction with the upcoming 420 celebration.
USMJ and PJET Update and New WCVC developments
In the 4th quarter of 2018, USMJ spun off its AmeriCanna Cafe business through the execution of a securities exchange agreement between USMJ and PJET. USMJ has sold its AmeriCanna Cafe business in exchange for a convertible purchase note issued by PJET. Neither USMJ nor PJET are executing a reverse split in conjunction with this transaction. USMJ and PJET do plan to promptly convert the $1.5 million note into a number of common PJET shares sufficient to issue one PJET common share for every fifty shares of USMJ common shares issued and outstanding. All of the PJET common shares issued in conversion of the purchase note are slated for distributed to USMJ shareholders in a dividend distribution. Nothing has changed in regard to this plan since the execution of the agreement. The hurdle that remains in front of the dividend distribution is bringing PJET current with the OTC Markets reporting standards. The company has all the reports ready to file pending OTC Markets being ready to accept the filings. It appears that in an effort to improve OTC investor protections, that the OTC has upped its scrutiny of issuers applying to update their reporting, particularly with issuers that have recently undergone a significant business change or capital restructuring. Accordingly, we believe the OTC Markets review is taking longer than anticipated.
USMJ has made a number of announcements over the past several months regarding its business developments with its interests in PJET/AmeriCanna Cafe business and West Coast Venture Group (OTCQB: WCVC) is the owner and operator of the $3 million Colorado based Illegal Burger chain. WCVC has partnered with PJET/AmeriCanna Café in rolling out an AmeriCanna Cafe pilot featuring an AmeriCanna Cafe food truck in pop-up venues near a series of recreational marijuana dispensaries in Colorado. The partnership is going well and growing and shareholders can look for some exciting announcements coming soon about new developments in the relationship with WCVC.
Management of USMJ, PURA, NOUV and PJET are overlapping as the controlling interest of all four companies is held by a private company, ACI Conglomerated
USMJ and PURA are sister companies sharing the same majority shareholder, ACI Conglomerated. In the fourth quarter of 2018, USMJ sold its AmeriCanna Cafe Restaurant business to an independently listed public holding company as part of a strategy to support the restaurant business with a dedicated public equity. The independently listed public holding company is Priority Aviation (USOTC: PJET). The transaction between USMJ and PJET includes a name change for PJET and a dividend of PJET shares to USMJ shareholders.
CEO: Steven Rash
Steven Rash is the CEO of American Cannabis Innovations Conglomerated. Mr. Rash also serves as the CEO of North American Cannabis Holdings. Mr. Rash is a medical industry veteran with a lengthy list of career accomplishments and experiences. He has negotiated medical device licensing agreements and health care partner strategic alliances that combined have generated over $650 million in new revenues. Mr. Rash has also managed numerous drug trials and secured multiple FDA approvals. He has signed over 400 managed care contracts and made more than 200 Boardroom presentations at Fortune 500 companies. Mr. Rash served as President and CEO of American BioMed, Vice President of Blue Rhino Corporation and Division President of Maxum Health Corporation. He earlier held numerous Vice President positions at BOC Group, PLC. Mr. Rash has a BS in Business Administration from the University of Delaware and an MBA from Southern Illinois University. Mr. Rash is also a Veteran of the United States Army.
Director:Brian Shibley is a well-known and successful real estate investor and developer. In addition to his director role at ACI Conglomerated he is the CEO of Puration, Inc. He originally became involved in Puration as a passive investor later taking over the Company’s senior management position to lead the Company through a transition into a new industry. Brian came to Puration as part of a broader investment strategy within the beverage industry. Puration was previously focused on reusable water bottles enable through a proprietary filter system. Brian was instrumental in two additional beverage industry launches – one in the distilled spirits industry and one in the health and wellness industry. After graduating from the University of Western Ontario, Canada, Brian moved to Providenciales, Turks and Caicos, where he designed and built homes, condominiums, hotels and casinos. After more than a decade in the Caribbean, Brian moved to Dallas Texas where he established his own real estate company in partnership with the renowned Tower Group to purchase land and correspondingly develop residential, commercial and hotel properties. For the last ten years, while continuing in the real estate business, Brian has also served as the CEO of a family owned underground utility company. Brian built the utility company into multimillion dollar operation that was recently sold in a private transaction. Brian has vast experience in building hotels and is often sought after by other developers to consult on complex hotel structures and developments. He has worked on projects throughout the Caribbean (most recently in Cuba), the Middle East and within the United States.
Director: Edward Bollen has served over 30 years with the U.S. government (USG) beginning with service in the U.S. Marine Corps. Following active duty, he worked with various military and law enforcement entities at the local, state and federal level (including the DEA). On behalf of the USG, he served as a "Contracting Officer Technical Representative " (COTR) working with USG contractors to develop specialized equipment, projects or designs. Mr. Bollen worked in the U.S. intelligence community and the U.S. foreign service on the diplomatic front primarily in Africa and the Middle East.