PNTV officially does not own Salinas no wonder financials are not filed yet. How can you claim revenue from a business you don’t own.
Even worse investors from the seller are here stating that payments have not been made. Mark agrees they have not paid the money they owe, they are now 4 months past due on the first payment and a total of 4 million they owe. More alarming Mark’s statements on why the payments have not been made conflict with the sellers reasons.
The Comcast relationship ended in a lawsuit that they received no cash for, they wanted to sue the State for unfair dispensary selection process must have decided it was best not to, they were sued by lenders for non payments of loans and ordered to issue stock to settle and now this most certainly seems is going to end up in court or dragged out much longer. I see a terrible trend here of disputes ending with PNTV losing, don’t expect to see those revenues from Salinas everyone thought were coming. It all makes sense now why they didn’t file the 2nd Q and why Geoffrey Lawrence quit. The timing on both line up perfect, Geoff saw they had no chance of getting Salinas done and got out quick when Mark decided not to make payments on the purchase. Lawsuit coming I feel.
People here were talking about Paul Rosen’s company investing in PNTV for Salinas guess that’s not even a hope now they don’t even own it. This is not a stock to be all in on right now this is going back to .03 maybe less real soon when the news of payments not being made gets out.
