PAO Group Inc (PAOG)

[Erbmanus]

Item 3.01 – As of May 30, 2017 all New Wave Holdings, Inc. operations that existed prior to the August
24, 2016 merger with PAO Group, Inc. have been divested to the previous management. This includes
the credit card programs “School Fuel and “Good Gravy” as wells as associated assets and liabilities.
Assets include approximately $105,700 program software, program prepaid marketing expenses and
patents. Liabilities assumed by the previous management include all accrued salaries of $285,000 and
accounts payable legal fees of $26,550.

I'm sure I can try to figure a way to make this sound bad... if I really needed to. Can't say it would be convincing. Happy with the $NWAV progress.