Drone Services USA Inc. (DSUS)

[pepeoil]

Cassandra Thursday, 07/02/15 01:44:29 PM
Re: MMA Coach post# 140046
Post # of 146328

The Series C preferred shares were stated to each be redeemable for $.20 in cash or $.20 worth of PVEC (now DSUS stock) starting on 9/17/2014. The only qualification in the press release regarding the market price of the common shares was the following:

Quote: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.



I have seen nothing in any PRs or public statements under the ticker symbol of either PVEC or DSUS that say the Series C shares can only be redeemed if the market price of the common stock reaches $.20. If you have a link to such a PR or public statement, please post it.

http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=7847

Quote:
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 [e-mail]

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.



Oddly, PVEI (PVEC) used the FINRA company action process to schedule the award of the Series C preferred shares with a record date of 4/15/2014 instead of the originally announced record date of the originally announced record date of 3/14/2014. I don't believe there was ever an explanation as to why there was a different record date scheduled through FINRA, which issued a PR on behalf of the company:

Quote:
PVEC - announced a share distribution of restricted Preferred Shares with a record date of 4/15/2014. PVEC will not be quoted ex-dividend
Apr 04, 2014

OTC Disclosure & News Service

New York, NY -
PVEC - PV Enterprises International Inc. (NV) - announced holders will receive One (1) restricted Preferred Shares of PV Enterprises International Inc. for every One Hundred Seventy Five (175) Common Shares owned with a record date of 4/15/2014. The pay date for this dividend is 4/23/2014.

Additional Comments: Will not be quoted Ex

Note: The above information was disseminated to OTC Markets Group by FINRA



http://www.otcmarkets.com/stock/DSUS/news/PVEC---announced-a-share-distribution-of-restricted-Preferred-Shares-with-a-record-date-of-4-15-2014--PVEC-will-not-be-quoted-ex-dividend?id=78627&b=y

The obligation of these preferred shares is approximately $3.725.