Hey boys, i know there are lot of smart investors on this board. Check out PACV it's going to fly Monday.
The 8K came out around 5:30pm Friday and it was very, very shareholder-friendly. The only dilution will be around 14 million shares to the Camardas not payable until the 2019 Seaport financials are audited later this Spring. That 14 million number could drift a little up or down based on the audited numbers.
TCA, previously our largest debtor, decided what they saw in this deal was so tasty, they decided to go all in and exchanged $2.5 million in high interest debt owed in previous years for 10,000 Series A preferred shares, making them the second largest PACV shareholder. TCA also provided the financing to buy Seaport, and all of Seaport's assets without any toxic debt, warrants, or convertibles. I've never seen such a straight and clean mega deal like this one on the OTC. It appears Masjedi and the Camardas were actively trying to make this deal without crushing the shareholders, which they easily could have done by gifting hundreds of millions of common to the Camardas. Total sales will jump from $5 million to $33 million with this deal
Pete and Nancy Camarda even carried back some of the paper, $850,000 at 7%. And we found out the Camardas own the 17,000 square foot cold storage facility in Spring Valley. They will keep their building and become the landlord, leasing it to Pacific Ventures.
All in all this is a fabulous deal the way it was structured. Monday should be a huge gap up and where it ends at 4pm nobody knows? I ran some calculations yesterday based on food industry price to sales numbers of .72 and 1.42 and i arrived at a fair market valuation of between 4 and 8 cents per share, and that was very conservative. Many believe it could be worth far more. The question becomes do we reach 4 cents Monday? Next week? Next month?
The stock closed Friday at .0036. 585 million shares outstanding with the 14 million mentioned above. Fabulous share structure.
GLTA
