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Not disputing Shannon’s failures and consistent losses for investors. Am disputing disinformation. They did not file for bankruptcy. That is an outright lie.
Dude. All I’m saying is they didn’t file BK. That statement was misleading. Over and out.
They have not filed for bankruptcy. Let’s keep the facts straight.
Yes they have cash flow issues, and other issues.
So the TA stopped reporting the SS?
As of recent updates looks like they are still working that out.
Not getting hopes up, and for what it’s worth (if anything) I’ve been running logic’s simulations with AI… inputing data on what the company has done and comparing it with what the company has said it is in the process of doing. These AI simulations are coming back with a probability rate of at least 80%, that the company is preparing for an acquisition and uplist.
I’d like to think this of course, though Shannon doesn’t have a good track record of communicating with shareholders to this point.
They are not diluting (at least as much as I was expecting) after raising the A/S count and announcing a reverse split. Maybe we are close to this happening:
"The Company is also still in negotiations and due diligence on the acquisition previously announced. Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "We are working towards a definitive agreement and looking forward to closing in the near future. In addition to their existing business, we believe there are great synergies to expand Seaport Meat Company's and San Diego Farmers Outlet's reach toward the middle of the country given their customers and distribution capabilities. This would be a transformational acquisition and, if consummated, will catapult us to near $80 million annual revenue and enable us to be positioned to start the process of an up list to a major national U.S. exchange."
This could explain the A/S raise, to accommodate the acquisition (shares to the sellers), then split it down right after to meet the PPS requirements of getting listed on a national exchange. Not holding my breath on this; it's just that it appears that this could be a setup to support the plans laid out in the letter to shareholders. My 2 cents. GL all.
If they announce an RS along with the acquisition and or uplist, this could still fly. Though given that we are talking about Shannon Masjedi here, I seriously doubt that she has the ability to execute something that.
Shannon Masjedi - what happened to this?
“We also will improve communication with our investors and we have a strategy to update stakeholders of our progress in a more timely fashion.”
https://finance.yahoo.com/news/pacific-ventures-issues-shareholder-letter-133000589.html
I foresee 20m added to the OS each week, through the next 90 days, then RS.
Market Cap a whopping $442,674. CEO Shannon Masjedi continues to fail her shareholders.
She’s shi* on every last loyal shareholder with silent treatment and zero follow through.
Trip ones coming. What a joke of a ceo. This is the last straw for me.
Probably because they have shares they are trying to dump.
Why are they pumping this stock?
Does that also mean that the acquisition is close? Am I remembering correctly that they were going to use the Houston facility to drive fulfillment?
If management knew what they were doing, they could get to that post-split price and some easily. That is a big if.
That’s outdated info.
The 900m AS has got to be a typo. Yet another oversight.
She could be planning to bleed it out to no bid within 90 days - then split it.
...And with no PR to explain what's going on. She did add this... and we already knew this:
"The Company believes that the Reverse Split will benefit all stockholders, as, without the Reverse Split, the Company will, in all likelihood, have difficulties if and when it seeks to raise additional capital for its anticipated future growth and seeks to list its shares of Common Stock on a National Exchange, of which there can be no assurance."
Shannon Masjedi tell us, what is the status is of the uplist? What is the status of the acquisition? Status of the online meat sales???? Status of keeping investors in the loop? Does she want investor support or not? It's looking like not.
If not for an acquisition and uplist, wtf do an RS? They did put this in the 14C and who really knows:
"The Company believes that the Reverse Split will benefit all stockholders, as, without the Reverse Split, the Company will, in all likelihood, have difficulties if and when it seeks to raise additional capital for its anticipated future growth and seeks to list its shares of Common Stock on a National Exchange, of which there can be no assurance."
In spite of the idea of a RS, there appears to be continued buying. Puzzling. In any case though, we need to hear from the company. They said they would communicate more frequently.
Certainly lots of buys. Who’s scooping these up?
Mysterious, as usual.
Wow just took a peek. That is some hella buying right there.
Still here in PACV - it's been a waiting game for me, like it has been for everyone else invested here. During this long delay (which I'm not happy with), I chose to step away and focus on other things while we wait for company updates.
We'll soon enough what this company does or doesn't do. I'll be here in the background standing behind by my DD.
I am truly in PACV come hell or high water.
Longs, feel free to hit me up in a PM anytime. Going to lay low until the company gives us some information to discuss, including scrubbing the 10k and 10Q.
Lafortuna's post is accurate, btw.
TT
I have to think that this will get going any day now. Too much going on with this company.
We know they got rid of TCA debt. That’s a good thing :)
Same. I think we are on the doorstep here. Absolutely worth pennies.
Their resources may be tied up with the acquisition… or maybe with the accounting piece related to the TCA debt elimination. Waiting patiently…
I don’t need to review it as I don’t share your frustration… thinking the info is lies and fraudulent. I believe it will happen when it happens. I didn’t invest more than I can afford to lose and I am sure not going to bash a stock that I own. That would be complete nonsense; I would just take my losses and try to flip it up in a stock that I don’t feel the need to constantly complain about.
And making slanderous statements isn’t exactly aboveboard. Claiming that Shannon has committed fraud implies she has broken rules or laws… that is a very serious accusation that is at this point a baseless one. Fortunately those baseless claims have been well documented here.
Yep - they could get that into major retailers. Also Shannon knows Martha Stewart. Wouldn’t be surprised if they do business in some way. Would love it if at some point Martha invested :).
Yep and millions in debt reduction.
Also Shannon is hell bent on getting off the pinks. Should be releasing a strategy on that soon, after the new acquisition and online b2c meat sales channel commences.
You can sell at .001-.011, no? Why wait till mid-trips?
Honest question here Ron, if you are that skeptical about the company, then why not sell before you lose more money, and just use that money to invest in a stock that you are confident will make the money back for you?
1) Every company dilutes, Ron.
2) “claimed to have $42m in revenues”? They actually generated that revenue.
3) In real life sometimes things are delayed and ETAs pushed back. You have no proof they broke promises.
4) yes a late filing, though they followed the process of extension. Nothing illegal or immoral there. They remain pink sheet current.
5) I don’t feel I’ve been screwed over. I don’t have a problem with being patient and waiting for a business to develop. I don’t invest in pump n dumps.
Every stock known to mankind dilutes. That’s why they sell shares on the market, Ron. Nothing immoral about it.
Yeah… been thinking since they have a bunch of releases in the pipeline, and they have this new strategy of keeping investors in the loop, why bottleneck the pipeline by waiting till the deadline… get it out asap.