Seeking honesty and profit in business
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Atty Saha should be worried about the complaint being prepared to the New York Bar regarding his misrepresentations in the Annual Report IMO.
State of New York has very strict securities laws. Does he not realize that people invested hard earned monies based on his representations?
RE: David Turner
Please provide any proof that David Turner was responsible for any of PVEC's problems.
He resigned over three years ago citing ethical issues of Peter Villiotis and non-payment of wages and consulting fees. He served only three weeks as an interim CFO.
So, how can one make such false claims against someone....with no proof. I know he would welcome a lawsuit since the counter-suit would be so lucrative to him.
There have been multiple lawsuits filed and discussed against PVEC and Peter Villiotis. Some have resulted in settlements, some have resulted in judgments and liens filed, currently pending trial or judges review, some are in the works still to be filed .... there are public records on file in at least four states regarding lawsuits against Peter Villiotis and/or PVEC. These have been posted on this site many times.
You investment decisions are yours alone. There is a lot of information posted on this website, both pro and con. Be careful ...be very very careful IMO.
If shareholders have no votes, they have no rights.
All voting rights reside with Peter. Shareholders are last in line in a bankruptcy. Sorry, no need to prove anything to shareholders that cannot even exercise their corporate responsibility; their moral and legal obligations to hold management accountable. Peter has made the shareholders expendable baggage IMO.
Look at the record dilutions, record low PPS, years of unfulfilled PR's, just pure manipulation of the innocent shareholders IMO.
Hold management accountable!!!!
Post Texas Case Hearing Yesterday
Great conference call yesterday with several of the defaulted creditors. New strategy to speed up the involuntary bankruptcies of Peter and Company. There are so many advantages to the creditors in forcing these bankruptcies.
Shareholders should protect their interests now by holding management accountable for their actions. It is the moral and legal responsibility of the shareholders to do such....it is also in their best interests.
But the one problem is, the shareholders have no say in PVEC. All voting rights reside in the preferred shares held 100% by Peter.
Thus the shareholders are going to get screwed anyway one looks at it.
These are just your verbal representations.
I know as a fact several representations are not factual. Please supply proof that you visited (photos), talked to building management (since this is a sub lease from another former tenet), proof of payroll checks for eight months (several employees in that time frame were not paid), etc.
Again, these are just your verbal representations.
We have been down this road several times before, most recently, with two famous investors who have since disappeared.They represented such great immediate plans that were in fruition. Even showed photos of Peter's documents that subsequently proved to be false and misleading by Cassandra.
Office visits will not work again to support this stock.
Man, that is pretty damning admission that the representations in the Annual Report regarding legal proceedings were not accurate.
RE TEXAS CASE
LOL .... David Turner is not even a party to the Texas Case. Can you explain why it is a great win against him? Get the facts straight. Suggest one wait for the public record of the proceedings however for greater clarification, or ask Atty Saha for information.... LOL
Your investment decision is yours alone. There is a lot of information posted on this Company, both pro and con....but based on the history of current management, the unprecedented dilution of the shareholders, the announced intent to R/S, and the record low price (and no bid)since Peter took control of the Company ... it does not look good for the Company IMO.
Be careful in your investment decisions.
RE TEXAS CASE
It shows that you are five steps behind in this case. There is a lot more info than you have posted.
Wait for the public record however for greater clarification, or ask Atty Saha for information.
I certainly would not call that a win for Atty Saha or Peter or PVEC... quite the opposite IMO.
Your investment decision is yours alone. There is a lot of information posted on this Company, both pro and con....but based on the history of current management, the unprecedented dilution of the shareholders, the announced intent to R/S, and the record low price (and no bid)since Peter took control of the Company ... it does not look good for the Company IMO.
Be careful in your investment decisions.
Who's quiet?
Is price still at no bid?
Involuntary bankruptcy and creditor's discussion(s) are still taking place.
How's the VNS court proceedings going?
Has PVEC met the 60 day Federal Maritime Commission requirement of application for bonding or alternative before any advertising....oh that should have been back in August if they are to take bookings Nov 4?
Etc., etc., etc
Your investment decision is yours alone. There is a lot of information posted on this Company, both pro and con....but based on the history of current management, the unprecedented dilution of the shareholders, the announced intent to R/S, and the record low price (and no bid)since Peter took control of the Company ... it does not look good for the Company IMO.
Be careful in your investment decisions.
TEXAS CASE
UNDERSTAND AN ESCROW AMOUNT MUST BE POSTED WITHIN FIVE DAYS ... PVEC says they have only so much money .... cannot even come up with $70,000. If amount if not escrowed, than Summary Judgement will be awarded.
Do you really think a COMPANY THAT CANNOT PAY ITS DEBTS, EVEN THESE SMALL AMOUNTS, COULD EVER START A MULTI-MILLION DOLLAR VENTURE WITH NO FINANCING IN PLACE?
Your investment decisions are yours alone ... but be very careful ... there is a lot of information on Ihub ... both pro and con.
Everyone has been well informed regarding this investment.
Shareholders have a moral and legal responsibility to hold management accountable. If they do not hold management responsible, their investment is at risk.
Your investment decisions are yours alone....
TEXAS CASE HEARING THIS MORNING
Milan Saha offered a settlement of three birds in the bush ...future promises ... that I predict will be outright rejected.
Predict that based on past Peter's history of delays in other court cases by not paying his attorneys .... that Texas Judge will order a Summary Judgement or at minimum not release the Texas attorney.
Atty Saha is not licensed in Texas (Texas rule XIX applies). Atty Saha tried the same in Florida in the VNS case and was told to "shut up" as no representation allowed since he was not licensed in Florida. Sounds like he needs to go back to law school for some basics. I am sure there will be complaints filed to the New York Bar in regards to his representations/statements on the Annual Report (remember the State of New York has some of the strictest securities laws in the nation).
The Texas Case concerns a defaulted promissory note for a loan made to PVEC and personally guaranteed by Peter Villiotis.
If Summary Judgement allowed, an involuntary bankruptcy is sure to follow against Peter and Company. If a delay is granted, other creditors are in line for filing involuntary bankruptcy IMO. Involuntary Bankruptcy will force Peter in statements to the court and perjury (jail time). It will also allow discovery of assets and off shore bank transfers. An Involuntary Bankruptcy will protect the employees and creditors, and will significantly reduce the legal expenses of the claimants as the court appoints the attorneys. Unfortunately, I predict the common shareholders and the preferred shareholders will be eliminated.
If a Summary Judgement is allowed, it is just a matter of time that Port of Palm Beach deposit is frozen and eventually seized (other creditors are already looking at that option).
Your investment decision is yours alone. There is a lot of information posted on this Company, both pro and con....but based on the history of current management, the unprecedented dilution of the shareholders, the announced intent to R/S, and the record low price (and no bid)since Peter took control of the Company ... it does not look good for the Company IMO.
Be careful in your investment decisions.
PETER HAS MADE LOTS OF MONEY
Just look at the Annual Report and the number of shares that were diluted to the market markers for the shares pledged as security for the defaulted loans. Should we say millions of dollars? It is the shareholders that have been defrauded.
MARTHA IS ALSO AN OFFICER
According to the Nevada Sec of State...she has personally liablity and she ownes a $500,000 home in Doral. Kerry and Jason are also liable and they have either wages or home that are subject to claims. Also Atty Saha has professional liability insurance.
You made excellent comments IMO.
BUT IS PETER'S STATEMENT LEGALLY COMPLIANT?
Of the 1200 shareholders, many do not have internet access ... has he sent legally complliant certified notices to thise shareholders that do not have internet access...sounds like another complaint for the shareholder's lawsuit.
Just proves that OTC is an unregulated market and risks are very real. One cannot rely on anything the Company presents.
Your investment decision is yours alone. Don't invest if you cannot afford to lose your investment.
CURRENT GARBAGE FINANCIALS vrs PRIOR ANNUAL FINANCIALS
Look at the current garbage financials ... non GAAP ... do not tie or balance ... non comparative ... no footnotes.
Current Non-compliant Balance Sheet
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=127532
Current Non-compliant Income Statement and Cash Flow
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=127663
Now look at the Compliant PVEC Annual Financials (these were prepared by the competent Controller that I hired when I was CFO of PVEC...who wasn't paid and has a claim against Peter and PVEC).
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=94010
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=94077
It does not take an accounting degree or a CPA to see that the most recent filings are complete garbage ... and prepared by an incompetent. If this is the current status of PVEC management ... management has certainly degenerated and does not have the expertise to prepare bank loans, financing, etc. with any legitimate financial institution
Wrong ... people have lost millions of dollars ...
On-going lawsuits, even though OTC Annual Report states otherwise.
OTC filed Annual Report
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=127382
Example of on-going lawsuit in complete contradiction to Annual Report
Filing Details
Case Number DC-13-02759
Case Style QUANG MERIDETH vs. PV ENTERPRISES INC, et al
Date/Time Submitted 10/14/2014 4:33:15 PM
Filing Type Answer/Response/Contest
Filed By Jessica Hayes
Service Contacts QUANG MERIDETH:
Judy Brown (judyloubrown@gmail.com)
Quang Merideth (quang@ygi-international.com)
PV ENTERPRISES INC:
PATRICK POWERS (patrick@powerstaylor.com)
Patrick Powers (patrick@powerstaylor.com)
PANAGIOTIS PETER VILLIOTIS:
Peter Villiotis (pvilliotis@pvefl.com)
Document Details
File Stamped Copy https://efile.txcourts.gov/ViewServiceDocuments.aspx?SID=04f9e14c-c941-4d69-98a9-e6bab0ab4ff6&RID=36616721-5b2e-4409-956a-a2b2ea53e0f3
This link is active for 7 days.
I know of at least three other lawsuits that are on-going. There are also dozens, of claims from unpaid employees, consul?t?ants, vendors?.
Various unpaid vendors
http://www.sunbiz.org/scripts/jlilist.exe
J13000514886 PV ENTERPRISES, INC. 2015 S.W. 20TH STREET, STE 220
J13000592445 PV ENTERPRISES, INC. 2015 SW 20TH STREET
J13000776782 PV ENTERPRISES, INC. 1850 S.E. 17TH STREET, STE. 305
J13001079251 PV ENTERPRISES, INC. 1850 SE 17TH ST.
J14000066000 PV ENTERPRISES, INC. 2015 S.W. 20TH STREET
Attorneys have been consistently unpaid and changed about every two to three months. For example, Attorney and former PVEC Director Larry Sazant lawsuit ($1 million in total) had approximately five attorneys withdraw due to PVEC non payment of attorney fees.
Larry Sazant, former Director of PVEC, has obtained a $241,000 final judgment plus 6% against Peter Villiotis and PVEC recently.
See Miami-Dade County Records
https://www2.miami-dadeclerk.com/civil/Search.aspx
And more lawsuits, in complete contradiction to the OTC Attorney Annual Report. Does not appear accurate statements were made in the Attorney's Annual Report:
Harvey Ruvin - Clerk of the Courts Harvey Ruvin - Clerk of the Courts
Civil Court Online System - Record Search Results
BACK TO SEARCH PAGE printer Printer Friendly Version friendly BEGIN A NEW SEARCH
Party 1 Name: PV ENTERPRISES
Case Style Information Docket - Parties - Location
Case Number
-Local
-State
-Consolidated
Sect Party 1 Name Party 1
Code Case
Type Filing
Date Atty
Bar Code Disp
Date Disp
Code
Party 2 Name
WILHELMSEN TECHNICAL SOLUTIONS INC vs HELLENIC RADIO SVCS U S A (LLC) DOCKETS PARTIES
2012-2399-CA-01
13-2012-CA-002399-0000-01
N/A 13 PV ENTERPRISES INC FL CORP DN 02 121 1/20/2012 124702 12/12/2012 VOLD
WILHELMSEN TECHNICAL SOLUTIONS INC
SAZANT, LARRY S vs PV ENTERPRISES INC DOCKET PARTIES
2012-24882-CA-01
13-2012-CA-024882-0000-01
N/A 21 PV ENTERPRISES INC DN 01 3 6/26/2012 55323 8/21/2014 FJUD
SAZANT, LARRY S
BARBU, ELENA GABRIELA vs SILBERSTEIN, ALLEN DOCKETS PARTIES
2013-12768-CA-01
13-2013-CA-012768-0000-01
N/A 02 PV ENTERPRISES INTERNATIONAL, INC. PN 02 3 4/9/2013 599281
SILBERSTEIN, ALLEN
ER OPPORTUNITY FUND LP vs PV ENTERPRISES INTERNATIONAL INC DOCKET PARTIES
2014-8708-CA-01
13-2014-CA-008708-0000-01
N/A 11 PV ENTERPRISES INTERNATIONAL INC DN 01 3 4/2/2014 994049 4/22/2014 ODIS
ER OPPORTUNITY FUND LP
Broward County Circuit Court
HomeAbout Howard C. FormanOverview of Clerk's OfficeOnline Services
FAQ'sMy AccountOrder HistoryLog In
Case Search Results
Party Search
Case Number Party Type Last Name / Business Name First Name Middle Name Party D.O.B or Year of D.O.B Court Type Filed / Status
CACE13009067 Defendant Villiotis Peter Civil 04/08/2013
Pending
COCE14009479 Defendant Villiotis Peter Civil 05/14/2014
Pending
And many other lawsuits....in NYC (Andrew Ro - former PVEC investment banker), VNS software (fl), Caterpillar (Delaware), etc.
DID YOU NOTICE MICHAEL REPPAS, FORMER PETER VILLIOTIS AND PVEC ATTORNEY IS SUING ALSO.
MAKES YOU WONDER IF A LAYPERSON CAN DISCOVER THESE LAWSUITS, WHY CANNOT MILAN SAHA DISCLOSE THEM ON THE ANNUAL REPORT. SOUNDS LIKE IT IS TIME TO FILE A COMPLAINT TO THE NEW YORK BAR ON MILAN SAHA. DOESN'T HE REALIZE INVESTORS ARE RELYING ON HIS REPRESENTATIONS IN MAKING THEIR INVESTMENT DECISIONS.
OTC has stated they do not review financial statements for accuracy.
But you know this already I suspect.
Obviously, they did not even look at them.
But you have....
Garbage Financials just filed by PVEC.
Nothing ties ....
It is listed as Annual Financials, but only reports quarterly results and not accurately. Numbers appeared to be made up.
http://www.otcmarkets.com/stock/PVEC/filings
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=127663
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=127532
Nothing ties ... for example
1) Cash on Balance Sheet is 25,284, net gain on cash flow and income statement is positive 25,284. Which is it, net change or absolute balance. Cash end of period on cash flow is 39,609. If one cannot even tie out simple cash (1st year accounting), every thing else is questionable.
2) Notice no change in customer deposits on balance sheet 191,309 and zero change reported on cash flow. This is in direct contradiction to statements on Attorney's Annual Report and Application to port about on-going operations.
3) No footnotes explaining the bogus assets reported, "The accompanying notes are an integral part of these financial statements"
4) No reconciliation of the Shareholder's Equity as required.
5) Why is unearned revenues shown for Contract / Receivables. This is not GAAP accounting. It is either Income on the Income Statement or a Receivable on the Balance Sheet and Cash Flow. Same amount reported for all 457,445. Look at previous quarter, revenues and receivables were 916,000. This quarter shows no change, what happened to the other contract receivable?
6) Accrued Expenses change for quarter is 1,117,560 balance sheet, cash flow states 1,117,560, expenses on income statement only show 332,819
7) No reconciliation of stock.
8) Where are the accruals and disclosures for court cases??
Many other issues, but the point is
1) These are not the required Annual Financials (just poorly prepared quarterly)
2) They do not tie and are not GAAP, just pulled numbers
3) Obviously, not audited, and prepared by an incompetent. No requirement for auditing however.
4) Does not meet the requirements for 10-K filing, as previous Annual Financials were.
And still no Annual Financials filed
The Irreparable harm done to the shareholders has been done by the CEO...no one else.
Shareholders have a moral and legal responsibility to hold management accountable.
And still no Annual Financials filed ...
http://www.otcmarkets.com/stock/PVEC/financials
What is being hidden ... it is not difficult to post these financials unless one is concerned that they do not tie to previous reportings and are materially inaccurate.
Everyone is entitled to their own game plan.
Your investment decisions are yours alone. But I am of the opinion that all information is important ... not just rose colored filtered information.
Still no Annual Financials filed for June 30, 2014...the STOP will appear again.
Not in compliance with FINRA/OTC IMO.
What is being hidden by not filing the required Annual Financials of Income Statement for the 12 month year, the Balance Sheet, the Cash Flow for 12 months, the footnotes (that are an integral part of the financials). It is obvious that purposely PVEC is hiding the true story.
And what are the individual tax consequences of these "Gift Certificates".
Is this an IRS "whistle blower" issue?
Annual Report is not the OTC Annual Financials
Quarterly Financials do not meet the criteria for reporting the twelve month period.
Both Cash Flow and Income Statement are just for three month period...basically a quarterly report. No OTC Annual Financials have been filed. No footnotes and other required disclosures are made.
See the misnamed so-called Annual Report....not filed...Stop will probably remain in place for the Annual Financials.
http://www.otcmarkets.com/financialReportViewer?symbol=PVEC&id=127663
IS THIS AN EXAMPLE OF CONTINUING PVEC MISINFORMATION TO THE SHAREHOLDERS??? Telling only part of the story?
Annual Financials have not been reported. STOP still in place.
One should read the warnings regarding insider trading in regards to a STOP. Appears that inside information is being disseminated.
OTC has just placed a STOP on PVEC
http://www.otcmarkets.com/stock/PVEC/financials#
It appears they did not file any of the required annual financials, i.e. balance sheet, income statement, cash flow statement, footnotes, etc, etc, etc..
They did file a balance sheet only for the quarterly, not sufficient.
And the time share business that was financed via toxic debt financing and loans to the purchasers. Where is the time share business now ...that was the point wasn't it in regards to Celebration and PVEC.
These short cruises were made of 50% of time share promotions and incentives. True for Palm Beach Cruises, SeaEscape, and others that I have reviewed there financials in-depth.
Please provide any proof you have...
I have the resignation letter, witnesses, contemporaneous diary, etc. What do you have except second hand erroneous information in your opinion only.
RE: Port of Palm Beach
Just spoke to Port authorities and they have already contacted Ihub to have their logo immediately removed. They do not give permission in any manner to use their Tradmarked logo. This was a blatant violation of US Copyright and Trademark laws.
On another subject, we have had sufficient interest from shareholders (enough responded) to initiate a class action suit ... the attorney is now reviewing information on the case will formulate a strategy.
2014-2015 is going to be a very interesting year. Creditors committee (informal for now) should be filing an involuntary bankruptcy petition.
There are now a complaint(s) to the IRS and SEC under the "whistle blower" acts.
Lots is going on behind the scenes. Make your investment decisions wisely. As I said before, Karma is a bear.
That Trademark Infringement is for the owner, the Port of Palm Beach, to determine.
And it is well known that the Celebration Cruise Lines has been up for sell for several years now. The majority of their business had been incentive and promotions for time share sales.
Time share promotions were severally hurt in this recession. Even the largest time share organization in the world, Westgate Properties - Orlando, FL David Segal, went bust. His family went from one of the richest in America to broke.
Quoting Celebration Cruise Lines as a stellar example of demand is like promotion a cruise on the sister ship to the Titanic a week after its sinking.
Court Cases against PVEC and Peter are going exceptional well.
Your Guess was wrong again as stated in your posting.
Resignation letter has previously been posted ...
Peter has said he will not honor creditors debts ...
So why should any creditor, former employee, or unpaid consultant other give him and PVEC any slack...
Karma is a bear, isn't it.
Creditors are a higher priority than shareholders in a bankruptcy.
Doesn't look too good for the shareholders considering the company announcement of "intent to R/S" and the creditors discussing involuntary bankruptcy.
More is going on behind the scences than you could ever imagine ... and I do not mean PVEC behind the scenes.
Resignation letter has previously been posted ...
Peter has said he will not honor creditors debts ...
So why should give him and PVEC any slack...
Karma is a bit#@, isn't it?
I would suggest that the shareholders hold management responsible and suggest to PVEC to pay their debts to the employees, consultants, lenders, trade creditors....
A crescendo is a rising. One hasn't seen anything yet ... believe me...a lot is going on behind the scenes.