Peter Villiotis announced the Series C "gift distribution" on 2/28/2014 -- 13 months ago -- and it still has not been completed. Is he now trying to sell more PVEC stock with new promises?
Companies that issue dividends are supposed to get the list of those who qualify but are holding their stock in street by ordering a NOBO list from Broadridge Financial Solutions. Shareholders aren't supposed to have to call or email a company and provide all of their contact in order to get dividend or, in this case, a "gift distribution." IMO, the contact information is being sought for other purposes such as to sell the list to spammers and scammers.
Just getting paper certificates means nothing if they can't be redeemed. PVEC doesn't have $4 million in cash to redeem them.
PV Enterprises International, Inc. Announces the declaration and Record Date of a 1 for 175 Preferred-Share Stock Distribution. Date : 02/28/2014 @ 1:00PM Source : PR Newswire (US)
PV Enterprises International, Inc. Announces the declaration and Record Date of a 1 for 175 Preferred-Share Stock Distribution.
FORT LAUDERDALE, Fla., Feb. 28, 2014 /PRNewswire/ -- PV Enterprises International, Inc. (OTC: PVEC, the "Company"), is extremely pleased to announce to all shareholders of record that on March 14th, 2014 the company will gift one (1) share of PVEC Series C Preferred Stock for every one hundred seventy-five (175) shares of PVEC common stock held.
The Company wishes to show its gratitude to our long term shareholders that have been firmly invested and supportive of PVEI throughout the challenges faced in recent months. Similarly, the Company wishes to restore value and confidence lost as a result of the IMAG dividend, which for circumstances beyond the control of the Company, were unable to be issued.
As the Company continues to move forward in present negotiations we are confident such will propel the company forward in the coming months. As part of this approach we are providing the following to all shareholders of record as of March 14th, 2014:
One (1) share of Series C Preferred Stock for every one hundred and seventy-five (175) shares of Common Shares owned of PV Enterprises International, Inc. (PVEC)
Series C Preferred Stock is a preferred stock that will be restricted from redemption for six (6) months from the date of issue and has a par value of $.20 (twenty cents). Series C stock will be issued in certificate form and mailed to all shareholders of record beginning the following week after recording, the week of March 17th, 2014, arriving to shareholders by mail. Beginning September 17th, 2014, certificates will be eligible for redemption for face value in cash or $.20 worth of PVEC common stock. In the event the price per share is higher than face value of $.20 (twenty cents), the Preferred C Series Stock may be redeemed for 1 (one) share of common stock at the current price per share. There will not be partial shares issued or cash issued in lieu of the Preferred Series C Stock. Any shareholder retaining less than 175 shares of common stock in PVEC on the record date will forfeit the right to receive the Preferred Share.
Example: Common Stock Owned = 10,000,000 shares Series C Preferred Stock with Par Value of .20 at 1:175 = 57,143
The filing for this Series C Preferred Stock has been completed with the Nevada Secretary of State. When this Series C Preferred Stock is listed, the par value will be shown as $.001. The Company would like to assure shareholders that this is not the actual par value of the stock, which is set at twenty cents ($.20) per section V of the Company bylaws.
Further updates will be issued to our shareholders in the forthcoming weeks as we continue to negotiate and execute plans for moving forward.
For further inquiries please contact ir@pvefl.com
Safe Harbor Statement: This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of PV Enterprises International, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
