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Re: pennyfollowercm23 post# 122442

Friday, 04/25/2014 4:03:40 PM

Friday, April 25, 2014 4:03:40 PM

Post# of 148335

As an example, look at the February 28 PR regarding the gift certs... This is one they ABSOLUTELY honored to the letter with the exception of the pay date, and an army of people are accusing them of lying because of a date change that was beyond their control.

Please explain how not honoring a previously-announced pay date (or record date) of a distribution of preferred shares shows that a company "ABSOLUTELY honored to the letter" an announced gift distribution. The record and pay dates are the most significant issues regarding dividends and even bizarre "gift distributions." How could the change in record dates equate to distribution that was "ABSOLUTELY honored to the letter?"

Please also explain why you claim that the change in "pay date" was beyond the company's control?

FINRA does not independently set dates for company-related actions such as dividends or "distributions" of preferred stock. FINRA merely processes requests submitted to it via Company Related Action Forms. PVEC is entirely responsible for the change in record and pay dates.

Lastly, PVEC has not issued any details of the preferred share distribution since rescheduling it through FINRA. None of the details of preferred stock to be issued with a record date of 4/15/14 and a pay date of 4/23/14 have been disclosed by the comapny.