Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
PACV primary lender TCA receiver update
As a whole, PACV owes TCA around $14 million. These loans are backed by the assets of PACV.
A division of TCA was charged with fraud and was assigned a receiver over 2 years ago.
PACV owes this division around $3.2 million.
The last payment PACV made on this loan was in March.
The receiver has been selling assets to new lenders and collecting debts.
Those who owe debts to a liquidating lender usually get a discount on the lump sum.
I check for updates to many court documents for these type of events daily, and the TCA receiver updated them today.
Over the past 9 status reports, PACV has never made a deal and rarely makes payments.
On this 10th report posted today, dated November 29, 2022, TCA receiver claims
"During the Tenth Reporting Period, the Receiver and PACV discussed potentially settling the debt."
This would be extremely important to larger investors for PACV to clear these debts.
News on this progress would be a huge weight lifted from the balance sheet, and would better position the company for any acquisitions.
Also within the recent documents, there was a charge for time spent between the receiver and PACV claiming
"Review and respond to e-mail on PACV settlement offer to GJB."
GJB is the firm the receiver is with, who is holding the assets of TCA.
This tells me PACV has started the process to settle this debt.
These reports are on very long PDF files, open at own risk. The main page can be found at
https://tcafundreceivership.com/courtdocs.html
Be sure to refresh this page if it does not show any documents past August.
10th report
https://tcafundreceivership.com/docs/DE319RecTenthQuartStatRep.pdf
In the third quarter ended September 30, 2022, the Company issued a total of 108,340,304 restricted common stock. The issued 34,558,253 of restricted common stock in lieu of $286,280 debt or notes payable and 73,782,051 of restricted common stock for $41,286 of accounts payable for services .
I just wish for the first time in PACV history they would try to create an attractive stock. It is much easier to raise capital and gain trust from the banks. No one is going to spend any long term money on a stock that just doubled its share count and crashed 90% and said zero words to those who just lost everything paying the PACV bills.
The last time my sentiment about PACV was this negative was back in April and May before 1000% gains. Once I seen VERT creating quotes on the L3 books I knew the stock price was in for a ride. They controlled the bid / ask from 0.01 to 0.10 then disappeared. This 1000% gain was the same week that PACV said they converted all third party notes to restricted shares, and was the largest increase of OS in PACV history that day.
My attorney said the process takes so long and burns loads of cash to pursue a case of manipulation like this. Most people do not trade more than $50k blocks in the OTC and most attorneys do not even answer the phone if you lose less than that due to fraud.
PACV stock price will have a nice run in the near future. Those who have higher cost basis might be able to recover some losses or make a few dollars. I honestly would be very surprised if the stock price goes under 0.001 but then again, I thought it would never go under 0.10 then 0.01 so here we are, 0.001.
They need to close a game changing deal or their stock is in trouble. Never in history has their stock price ever increased consistently, so what now? This is a dangerously low price, for everyone........
I am making transfers to have a healthy cash on hand for some PACV stock very soon.. but will likely not hold long. Ever again
At the very least, people can not say PACV is a pump and dump. There is no pump. Part of me questions if they even got financing for that distribution purchase. Another thing that scares me is the amount of restricted shares eligible to convert in the near future.
One good thing about PACV is that when it runs, it runs. Usually 1000% gains within 3-5 days. The IR team and company are 100% aware of the current situation and there is obviously a reason for not breaking the silence. For every ones sake, I hope we all make money and the company flourishes. Good luck man
They can sell me 50 million at 0.0009 I'm waiting
My bids are set at 0.0009 the new IR team and CEO want this at 0.0001 the OS doubled in 4 months and zero news. Not even a Q3 recap. Forget the fulfillment center purchase.. even a good morning text would be lovely at this point... this is NOT a nasdaq stock never will be
We need more than $20k in buying volume to strong arm the market makers. They have total control until retail starts spending some money. At 0.0015 there should be at least 50 million shares traded. Anything less these firms can play games.
The real problem is MZ Group and PACV not doing anything about it.
Changed my mind. I am not buying at 0.0009 I will wait for 0.0001 not worth the risk at this point losing 20% per day. Buy at 0.0001 and sell at 0.0002
Even 10 million shares at 0.002 is only $20k that is pocket change really. I will get excited when I see $100k+ blocks.
Either way I hope the best for current and future shareholders. I trade PACV purely on volume for quick 10% gains now. I used to think this was a great long term growth story.. but is nothing more than a vehicle to raise capital for growing debts at the expense of shareholders losing all invested money.
PACV diluted share count increased by 77% since last press release.
From late August to current, 240 million OS to 425 million OS.
ZERO communication, zero twitter, zero PR. CEO diluted shareholders pockets 77% and crashed the stock price 90% all while saying ZERO words to the public.
This is why PACV will absolutely never up list. Forget the balance sheet.. forget the business model. MZ Group must have been paid in crypto to run investor relations.. What a mess.
PACV has ZERO interest in creating shareholder value. Zero communication, relentless dilution, new lows every single day.
Once the price reaches 0.0009 I will make a purchase and sell at 0.0020
We will never see 1 penny again at the current pace.
PACV common stock at -94% loss from 9 months ago.
PACV issued 3 updates via press release during May. The same time they took the issued shares from 40 million to 200 million. The share price exploded 1000% in just days from 1 specific market maker to make these conversions happen and bring in buyers.
This is called asking your attorney how much you can get away with in the OTC pink without actually getting in legal trouble.. Lol.
CEO puts out updates when the advisor tells her shares need converted. PACV share count has barely increased in 3 months now. It has been 3 months since a press release. Sad. I have traded shares of PACV for about 5 years now and they always have abused shareholders. They could use free resources like Twitter to communicate with us. Or more consistent updates in general.
Sold my position here many months ago and only trade on volume now. I will never hold long on PACV.
Good luck everyone.
Ahh the OTC pinks. The only place you can crash your stock price 99% over and over and go from 30 to 300 million issued shares without saying 1 word to the public in 3 months.
I would absolutely never recommend holding PACV stock long term as the management and advisors have proven to abuse retail shareholders since day 1.
However, when you see record high volumes traded at around the same price point after not hearing 1 word from the company in 3 months... now is the time to buy. Either they are conducting insider frontloading or drowning the market makers with shares for the Q3 update. There could be news coming for the online retail distribution purchase, but CEO said "within 6 months" just 3 months ago. So maybe within 3 months, but probably 3 years.
I do not trust the CEO or their new investor relations team or any of their previous advisors. I have talked to everyone involved with PACV since their formation and should have filed lawsuits but instead dumped my position and left many times. I will never hold this stock again for longer than 2 to 3 days tops.
1 thing PACV is consistent with - setting new all time low stock prices for its shareholders every single day. I get that the markets are in bad condition, but this CEO and company does absolutely NOTHING to help market and keep their stock price from crashing..
For those wondering why they chose not to uplist to even OTC QB or QX... is because they never had intentions to maintain a share price over 0.01
It is very rare a company dumps so many new shares into the market without at least a little pumping.. PACV simply issues millions of shares without trying to create any buying volume or interest. I would rather have a pump and dump than just a dump and dump.
PACV had more volume and interest above 0.01 than it does now at 0.007 I hope the market makers and company learned a lesson. Dropping the price this low to attract new buyers failed again.
This is why I said price does not matter. They can drop PACV stock price down to 0.0001 and there will be no interest. They need to market and create an attractive stock that people are interested in buying and following.
Even at 0.007 there is very little interest. They drop the price like this to draw in new buyers but this method never works for PACV.
The price of PACV stock does not matter. It could be 0.0001 or 100 dollars each. The problem is the lack of marketing. The company has no interest in maintaining an attractive stock price. I am a bit surprised that the new IR team has no interest in creating shareholder value for the company either.
It is much harder for the company to raise capital with a crashing stock price. I have no idea why they do no at the very least use social media or their websites. Even Seaport Meat has no updates to their website about "Coming Soon: SeaportSteak.com"
Not even a free twitter page for Seaport meats. They are going to run this into the ground from the lack of marketing. So simple and most marketing is FREE... Social media is free and reaches millions of people. I can not understand this one.
Huh? They converted third party notes to restricted shares in Q2 resulting in a 160+ million. Sure, essentially this is dilution.. but I wouldnt say the company is hammering new shares into the float. They only issued 1.6 million common shares in Q2 for debt..
According to the latest court document from the TCA receiver, the PACV loan is being sold. I had high hopes they would make a deal to clear this debt at a discount, but if this transfers to a new firm, they will resume the current balance.
"During the Ninth Period, the Receiver and PACV engaged in negotiations to settle the debt. This loan is currently included as part of the loan portfolio being sold. "
https://tcafundreceivership.com/docs/08.08.22RecNinthStatusReport.pdf
The markets today in general got hammered and unfortunately PACV closed under 1 penny. Its hard to watch the share price tumble every day for a company that could do so much better. I have talked to everyone involved with PACV at some point and I have mixed feelings. I have confidence in the companies growth, but not the stock.
The OTC markets have been in overall decline for a long time and now with Crypto, NFT, meme stocks, etc.. the extra money is spread out too thin. Light needs to shine again on the OTC or companies like PACV may never be successful.
PACV the game plan..
In my opinion, here is what will happen in the near future.
PACV has $3.7 million in purchase receivables and $540,000 in cash.
PACV has a binding LOI to acquire a distribution/fulfilment center in Texas to pair with the launch of their online retail sales platform SeaportSteak.com
Depending on the terms and price for this buyout, PACV may be able to use these current funds.
In June, reported in Q2, PACV made a deal with Lendspark Capital where they pay them money from the sales of Seaport Meat in exchange for $2.7 million cash. They make payments on this loan for 52 weeks.
I assume once they announce the closing of the acquisition, they expect large volume and interest and will use this momentum to raise some capital or pay debts.
Most of the share count is restricted. PACV converted all third party notes to restricted during Q2. Insiders own the rest.
What I find interesting, they say "Between May 17, 2022 to July 6, 2022, the Company converted the Unrelated third party noteholders to Restricted Common Shares."
May 17 was also the day PACV started its 1000% run. May 18 climax.
I dont really like to see that. Seems sketchy. Its all about being "in the know"..
As of June 30, 2022, the Company has $1,986,870 in inventories.
Short term notes of only $821,269
All other notes are due over 1 year from now.
PACV needs to market their stock better and use social media at the bare minimum. Everyone wins with a higher stock price, everyone.
No they are referencing a tweet by the CEO saying "no new shares issued since." where someone else added a header 5 inches above the tweet saying "no more dilution". He has posted that image 100 times and always says the CEO said no more dilution and that is just not true.
As for the info on the FAQ page, that appears to be true. "Soon" is an open ended term. The company posted that statement and cleaned up some debt with dilution, and now 6 months of 0 dilution. There really is no false information or misleading words. Seems pretty accurate.
Looks like they are getting the funding together for closing the acquisition.
105 million restricted for $1.5 million and 78 million restriction for $400k during the 2nd quarter.
They also got $3.2 million from Lends Park Corp on June 30.
Thats about $5 million they raised in a few months, not including capital from dilution.
Lets close that distribution and get PACV up to $100 million
Do you have a link to that press release or do you like posting false information like booboo? Regardless if they used that image, Biohazard is 100% responsible for any content made for Covid Clear, not GRST.. End of story, see ya.
You dont need a press release to prove a LOI has been signed. Their first ARIA facility and 2nd both had signed purchase agreements and GRST followed through on both. They have not said anything about an LOI in over 2 years. Sure, BioHazard Health Services (Covid Clear) failed. 1 of thousands of companies to try and use the new big scary virus to be a "covid play". The photoshopped vans had nothing to do with GRST im not sure why you guys are using that as negative leverage against GRST lol. Ask the marketing team of BioHazard who they did not end up acquiring..
You posted the MOU with Sparta group as an example lol. Like that is suppose to help you prove your point? MOU and LOI are totally different and GRST actually does have the MOU with them but if it makes your post look more scary, go for it lol.
You act like they put out a LOI every other month to sell shares but that is just not happening. Have fun man see ya
"First, none of the letters of intent of the past were ever completed. "
That is obviously false, why would you say such a thing? How hard are you trying right now to deter people from buying GRST stock? Summer is almost over go out and get some sunshine man.
Companies of all shapes and sizes have leveraged sales receipts for a quick loan this is very common actually.. But i understand you need to convince the 5 people here on iHub to not buy GRST so ill play along and agree with you that, in the case of GRST, this is not a good loan.
They need those proceeds to pay debt, not create new debt with what little money they are making.. Revenue increased quite a bit, but employee wages increased almost the same amount. But then I remember this is the OTC pink sheets and to not take things as serious.
For shareholders sake, I sure hope all of this financing is to close on the acquisition. I would say its worth it then. The 10Q will shine light on all of these topics.
2nd Quarter report due tomorrow. NT-10Q would give them to next Monday.
Either way, this should be an action packed report. The huge issue of restricted shares will be exposed and information on the binding LOI with the Texas distribution center. CEO said in the webinar they used that large increase of shares to "clean up the debt on balance". I am very interested to see those numbers. Another record revenue report would be great too.
Above most all, a stock price that trends up for the first time in history. We are trading shares for a market cap equal to what it was 3 years ago when they had little to no assets and sales. Bouncing off all time low prices (factoring in post split and dilution adjustments) the time is now or never for this company to make a move. They had their first public conference call since I have been following for 4 years and have the best IR team yet. Most assets and revenue ever in history, and a never ending demand for food & beverages. Expansion to online retail sales and exploring the purchase of more distribution space.
Within 10 days from now we will know the true intentions of this company and stock direction.
PACV webinar highlights & incoming events
After some delay, PACV hosted a 15 minute conference call / webinar for shareholders and potential investors on August 10, 2022.
During this call, the CEO Shannon Masjedi had mentioned a binding LOI with a distribution / fulfilment center in Texas. Combined with the launch of their online retail platform SeaportSteak.com they plan to sell the products they make on a large scale to customers doors with dry ice.
You have to wonder why are they keeping so quiet about this deal. Not even a press release? Maybe this deal is so big some Sysco and US Foods investors will take notice. They started out showing the float was only 58 million and insiders own the rest. CEO said this new expansion of operation would build up revenue to around $100 million with up to 35% margins for the online sales.
The 10Q should be out within the next week or 2 and this expansion is expected to close within 6 months. CEO said during the call, the recent increase of shares was to clean up debt on balance sheet. PACV has a TTM revenue of $45 million and they just started forming the company a few years ago.
The share price has not been very attractive for long term holding and I sure do hope they turn that aspect of the company around. Everything else looks promising.
See below for some slides during the webinar.
https://www.accesswire.com/710569/Pacific-Ventures-Reschedules-Virtual-Roadshow-Webinar-to-Wednesday-August-10-2022-at-1130-am-Eastern-Time
There are many companies on the NASDAQ with less revenue than PACV. At this point, it comes down to management and IR to create an attractive stock.
I have many questions for the call tomorrow and we are going to get insight before the general public. If for whatever reason on the planet they reschedule a 4th day, the price will crash dramatically and I will be long gone.
I expect to hear about Seaport Meat's online retail platform, SeaportSteak.com and how it will increase sales. I also expect Q2 financials and growth plans. I was told this should last around 2 hours. Thats a whole lot of PACV time. Gives us time to make investing decisions before they start rolling out press statement summaries to the rest of the public.
On 1 hand, its great to see PACV hosting a conference call for investors. This to me shows they have many topics to discuss and hope to draw in some big buyers.
On the other hand, setting a 3rd new date for this conference shows incompetence. It is very hard for potential buyers to take a company serious especially after today. Some people set time aside for the 2 hour webcast today to be told at the last minute it has been cancelled again.
My take on this. If PACV wanted to use this conference call to raise capital from new buyers and make a good first impression, they would have been on time and gave their company summary as scheduled. With them kicking the ball on this for a 3rd time makes me believe there is news accumulating and they are trying to delay as much as possible. Or.. they have an interested investor with deep pockets who was not able to attend today.
Looking good. Hope for good news next week :)
Its about that time. Food & Agriculture + recession = good. Launching online sales platform for their meals = large revenue increase. Q&A conference call = news to discuss & investor interest = good.
According to the last court document filed with TCA, PACV owed them $3.2 million. This is only for the loan affected by the liquidating portion of TCA. The receiver has made some very good deals with other borrowers, I hope PACV can take advantage.
Also on the recent 10Q for PACV, they claim "The Company had purchase receivables of $1,783,959."
This is a huge purchase, I wonder if this is a separate deal than the 136 restricted issued? I do not see that 1.7 million on the accounts receivable section of the balance sheet, makes me wonder if some big deals are taking place after Q1 ended?
I am not sure what the EPS would be honestly it would just be a guess.