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Bad news..
No matter what happens in the next few weeks, the CEO of PACV will never be trusted and has proven to be a terrible leader of a publicly traded company.
PACV has an agreement and court order with Trillium Partners concerning almost $10 million worth of common stock due to them for debts.
What is the status of this agreement? No idea. How much has been paid, if any, and when?
All I know is that if this court ordered agreement is still in progress, the CEO is playing a game with her companies stock.
If PACV gets delisted soon, which is days away, this agreement defaults.
I can't tell if the CEO is preparing for some sketchy market manipulation or if she is letting this default..
No matter what, Shannon is a trash person with personal bankruptcy's, horrible management skills and communication.
My opinion, of course.
https://www.sec.gov/ix?doc=/Archives/edgar/data/882800/000149315223038562/form8-k.htm
PACV worse CEO in history. Shannon should be in jail. Terrible person, terrible leader, no communication, no updates, no required SEC filings, no 10k, no 10q, no 8k, years of failed promises, PACV company is crashing, debts rising, sales falling, nearly no growth in years, 1 trash update every 6 months, maybe. Its always refreshing coming back to PACV and its in worse condition every time I check in.. LOL
Not many people want to buy at the ask when for the cost of 3 Starbucks macchiatos someone can crash the stock back down 80%. Market makers are playing a game of, lets let them think this will run, build some bids, and hammer them hard with ungodly amounts of dilution sitting on the sidelines.. Good luck, make sure you quickly take any gains (if possible with pocket change volume). and run. PACV CEO is a nasty human, my opinion..
PACV lots of trouble incoming.
If anyone is wondering why no investors want PACV stock even at 0.000
take some time to read this agreement
https://www.sec.gov/ix?doc=/Archives/edgar/data/882800/000149315223038562/form8-k.htm
If PACV is struggling at 0.0009 I cant imagine when they need to issue 10 billion shares to pay these debts.
Looks like a forever death spiral with an occasional manipulated price spike to bring in new bag holders.
There is no good news thats whats going on. Stock price is down 99% since the split a few weeks ago. Revenue has declined dramatically. Debts have increased substantially. $9 million worth of common stock is soon to be sold to pay off a settlement with Trillium.. I do not want to be in the same country as PACV when they need to sell those shares.. So dont worry, im sure they will manipulate a run soon to help sell.. The crash back down will be just as hard so be careful.
In my opinion, this 10k if and when they decide to file, will have slightly better numbers because of balance sheet manipulation and the few extra dollars from online sales at seaportsteak. But from the looks of it, seaportsteak is a bust. They did not make any deals with the Texas distribution center and they do not deliver nationally like originally said.
Good job CEO. That reverse split worked GREAT! now back down to 0.0001 with 800/900 million shares left to sell for massive debts coming soon! The CEO of PACV burned all of her loyal shareholders and the market can see how trash of a person she is! And now that we are 15 days past the original due date for 10k, looks like we are headed for a dark and defunct company once again!
Maybe with some heavy fraud and manipulation and slipping the market makers a few benjamins the CEO can get this stock price a quick little spike up and sucker some more people into this scam before she goes quiet for 8 months again?
Pretty sure at the bottom of that tweet it says false information, as Publix does not charge $60 per pound of strip steak.
Good catch where it says "Only shipping to California & Arizona only". That is terrible news. Instead of the national distribution of their meats via frozen packaging, they reduced this offering to just 2 states? Uh-oh. Sounds to me they are struggling. Instead of signing a deal with the Texas distribution center to distribute nationally, PACV instead made a new website called seaportsteak and they only ship to 2 states from their garage.
Waiting for bankruptcy news and CEO to resign.
I would not pay $5 for the entire company. This company and stock is in a never ending death spiral. Now with more massive debts coming due, there is no amount of fake news and manipulation that is going to get me to buy any stock of PACV. For every 365 days that pass by, investors of PACV might see 2 or 3 green days after heavy manipulation and fake news. No reason to risk anything here. WAY better companies to get a return.
PACV company and CEO warning
First 9 months 2022 sales: $30 million. First 9 months 2023 sales: $22 million
December 2022 deficit: $28,971,411. September 2023 deficit: $31,133,851.
As of September 2023, PACV has a notes payable balance of $16 million !!
$6 million assets
$28 million liabilities
"On September 6, 2023, the Company entered into a settlement agreement with Trillium Partners"
"It is estimated that the Company will, pursuant to the terms of the Settlement Agreement, issue to Trillium approximately $9,282,267.93 of Settlement Shares"
CEO maxed out issued shares to almost 900 million in September 2023, increased authorized from 900 million to 5 billion, completed reverse split, reduced authorize back down to 900 million, and is now rapidly issuing shares again, all within a few months and with no words to shareholders.
CEO puts out fake news to pump and dump, then will disappear for 8 months. This CEO will never lead a NASDAQ company and PACV will never be a NASDAQ company.
PACV is in very bad condition be ready for heavy pump and dumps to pay bills. CEO does not care if stock price is 0.00001 or $1 absolutely does not care at all about the stock price or shareholders. Been here for like 5 years.. rinse and repeat here at PACV. I will never buy PACV stock ever again and will advocate against anyone supporting this terrible OTC CEO.
If you can quickly flip for 10% congratulations. Holding PACV for longer than 1 day is the biggest risk in the stock market in my opinion.
So authorized shares reduced from 5 billion down to 900 million now? How can they keep changing the share structure? I wonder if PACV would be sued for these actions in the major markets? No required SEC filing for a material change in share structure, again? Or this is a mistake? Either way, what a shit show! If PACV could actually pay a settlement maybe investors would pursue an attorney. Surely a public company cannot continue to make material changes to the share structure without public disclosure, right? Even with CEO having all the voting power. Will the SEC do anything? Doubt it. Will an attorney pursue it? Doubt it. No one is losing enough money to make a case here.
I will never buy PACV stock ever again no matter what. Do not support this incompetent CEO. There is 0 value to a stock where the company puts out 1 update per year, increases authorized shares from 800 million to 5 billion quietly, completes a reverse split quietly, has a $32 million deficit, 0 communication with shareholders, 0 effort to bring in new shareholders, 0 effort to maintain attractive stock, 0 care if shareholders lose every dollar, fails to file critical SEC documents timely and sometimes not at all, 0 updates on company operations, 0 guidance, 0 plans, 0 goals, 0 everything.
Such a shame PACV could have done so much better. Forever a piece of trash in my historical financial transactions. I will never buy 1 share again no matter what happens or what they say. Its a scam company and scam CEO that only shows up when they are under water and need to take advantage of the common peasant shareholders.
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.
The time has cometh for PACV
The reverse split is only preliminary and not yet definitive. We should see the Def 14c soon, unless CEO just wanted to scare the shares out of people before some good news.
That is likely because the website has not officially launched, im sure they are still working out some bumps. Everything works except payment processing.
What the site developers should have done is kept the web pages on test mode and not published them live yet, but at least we got a preview.
BREAKING NEWS: SeaportSteak.com is now LIVE
After a very very long delay, PACV has launched www.Seaportsteak.com
In addition, it looks like some valuable information on the distribution aspect of this deal can be found here.
Good luck in the coming weeks everyone.
PACV accomplishments in 2023:
Raise authorized shares from 800 million to 5 billion, reverse split, become delinquent in filing 10k and 10q with the SEC, increase net losses, decrease sales, increase debt, no communication to shareholders, lie to shareholders about seaportsteak.com launching, dilution dilution dilution.
0.0001 is no longer the bottom price here at PACV. Reverse splits are dangerous in the OTC.
PACV 10k ..
Total assets decreased from $7.6 to $6.1 million
Total liabilities increased from $22.3 to $26 million
NET LOSS increased from $5.5 to $7.7 million
Authorized shares increased from 800 million to 5 billion
Issued shares increased from 31 million to 468 million
2023 plans and acquisition notes do not mention any progress or details on the Texas distribution company LOI. Looks like that may be a dead end too.
Looking for possible defaults and capital raise to continue paying bills here at PACV in the meantime.
Unfortunate really.
The 10Q from Q3 of 2022, the net loss of $5 million is in reference to the first 9 months of the year ( 2022 )
If PACV could reduce those interest payments of $4 million and administrative expenses from the astonishing $5 million, they could maybe make profit...
https://www.sec.gov/Archives/edgar/data/882800/000149315222033179/form10-q.htm
PACV reported a net loss of $5 million during 9 months according to their last financial, raised authorized shares behind closed doors by 4.2 billion, and is now failing to report required documents to the SEC for the first time in at least 5 years causing a yield status. I would be a bit scared too if I held any large position in this stock.
I will buy more PACV at 0.0001 after it goes dark / defunct.
Grey sheet combined with a capital raise should suffice.
PACV is about 20 years away from uplisting out of the pinks at this pace.
CEO sure knows how to attract investors with more than $500 dollars... Lol not.
How to attract investors in the OTC pinks, PACV style.
Dilute shares 97% over 6 months.
Raise authorized shares from 800 million to 5 billion with zero communication.
Go 5 months without any updates / news.
File financials late, or not at all, and go SEC delinquent.
Ok where is Warren Buffet, lets see if this is a valid investment.
This type of news just tells me they are getting ready for a promotional run. They go dark for 8 months and let toxic dilution resolve, then start out with some insignificant news such as importing meat for lower cost saving.
We have 2 updates this month, and assume to see financial and expansion updates in April. This is usually a good sign the company is setting up for a momentum run in price.
To be honest, these 2 recent updates are pretty much worthless in the markets eyes. They are just laying a foundation for attracting eyes.
I'm all for satire, but false info is never good. They can't pay more to a CEO salary than all of their operating expenses combined lol.
PACV needs to file 8k or submit formal update on the TCA debt status because for anyone with a large sack to make a purchase of this stock, we need to clear those debts first. PACV is paying at 16% on the Seaport Meat loan, for a total of $8 million. TCA pretty much owns the assets of PACV within these loan agreements and any formal deal at this point should send this stock into correction.. even if its just the $4 million owed to the TCA receivership portion.
These numbers are from Q3. Lets see what Q1 and 10K bring
Dan Snyder is a good guy he took over for Russ about 2 years ago after he died.
Of all the investor relation firms ive worked with in the OTC, Chesapeake group is probably the best overall. This does not guarantee a positive return on the share price, but they will make you feel comfortable without pressure.
Breaking News: PACV made a deal with primary lender TCA for debts owed
TCA receiver posted the 11th status report today, dated February 13, 2023.
This is the first deal PACV has made with TCA during these 2 years of liquidation.
Get ready for a ride
Warning, this PDF is large and may take time to load.
https://www.tcafundreceivership.com/docs/US_DIS_Eleventh_Quarterly_Status.pdf
The OS is the restricted and unrestricted combined so they still have about 180 million to reach the max. PACV claimed to have converted all 3rd party notes to restricted shares almost 1 year ago so that's who owns them. My concern is if those are eligible to be sold after 1 year, we may see that happen soon.
As of August 10, 2022, CEO said they expect to close the distribution center within 6 months. There is 1 week left to meet that deadline.
PACV used to pump their financial numbers, year end statements, 10k estimate, new year forecast and goals, etc.
My guess is they will release a series of updates close together in the near future.
No the TCA receiver would be selling the PACV loan to another lender or PACV could settle the debt. As of the most recent court document submitted over this matter, no deal has been made. The other deals that have been made are usually at a discount to the borrower. PACV has much more debt to cover than just the TCA portion affected by this case.
400 million sold at 0.002 is only $800k. And about half was sold under 0.002 so after fees, taxes, interest, likely much less than 800k usable.
This would not even cover 10% of their debt and would maybe buy them a few parking spaces at the acquisition location. And obviously toxic financing is the only bidders for PACV loans.
People will be cashing out big time if this price somehow achieves 0.002 again. PACV had lots of potential for an OTC stock. Not anymore
Here is what PACV and CEO have accomplished in the past 5 months.
- Complete loss of shareholder trust
- NASDAQ will 100% deny PACV
- A 97% equity loss
- A 97% loss of share value
- 0 communication
- Failure to report material changes
Excellent work.
On the bright side my 0.0009s arrived.
CEO failed obligation to shareholders to report material changes to the company and/or its share structure. A 97% loss of equity with large scale debts converting should be reported to shareholders via 8k, and is not optional.
CEO has been notified and likely advised to withhold releasing information to the public, therefor passing this obligation to the investor relations and/or advisory group. Regardless of motive for lack of information, this is not acceptable practice for ANY public company within the United States.
This is a flawless case of letting friends frontload at unreasonable low prices before significant news is released. They knew 500 million shares were going to convert and were advised to not release any momentum creating news so the price would death spiral down to the target price for the chosen few to load off the books. Happens all the time in the OTC and is very unregulated.
PACV failed to disclose a material change to their share structure. Shareholders at complete loss of equity and debts are converting with no 8k in sight. Lawsuit incoming $8000 down payment
Why not create a buying environment, put out some updates, gain shareholder trust, and maintain a higher share price resulting in less shares that are needed to convert to pay debts / raise capital?
Its because in the OTC, your friends are the front loaders. Your goal is to let the price get as low as possible. This is achieved by diluting your shares by 1,500% ( 30 million to 500 million ) and not saying 1 word to the public in 5 months resulting in a death spiral.
There is not 1 single company in the major stock markets that get away with what PACV is doing right now.
The results are in: 2022 worse CEO award goes to..... Shannon Masjedi of Pacific Ventures.
Congratulations Ms. Masjedi, how do you feel receiving this honor?
"Well I would just like to thank my loyal shareholders for losing all of their money, buying more and losing it all again."
"It was such a great feeling watching this happen. We could have put out some updates like year end summary, Q3 commentary, online platform update, or maybe even an 8K on why we diluted from 30 million to 500 million.. we ruined our chance to ever up list or gain shareholder trust again, but it was totally worth it! Thank you again for this award."
(satire)
Thats how I feel at this point. I dont care if PACV puts out news saying they acquired ConAgra.. There is no excuse to go dark and quiet for 4 months, triple your share count, and let your shareholders lose 100% of invested money week after week, without saying 1 single word to the public.
Now if they put out a small update PR every few weeks, posted a tweet here and there, and updated their website more than once a year, we could say they are at least trying to work with shareholders. What I see happening right now is deliberate. They know their shareholders are getting slaughtered and can do nothing but smile and turn away.