Shareholder update 12-10-20
Dear Shareholders,
I have been asked by a few investors and partners about the status of the Company’s Chapter 11 filing. To clear up any confusion, let me be clear, the filing was done as part of management’s plan to consolidate the Company’s debt to clean up our balance sheet. However, since Chapter 11 falls under the control of the U.S. federal courts and given that our subsidiary Green Leaf Farms is involved with the cannabis business, which is not recognized as a federally legal industry, our Chapter 11 petition was denied as if it was never filed or existed.
Since the debt we are focused on consolidating is primarily related to convertible notes we chose to temporarily de-list the Company’s stock from active trading until we bring our filings current. This de-listing allows us to consolidate, control, and deal with this debt in a straightforward manner that we believe will greatly benefit the Company and its shareholders. Our filings have never and don’t have any impact on our international operation through the company’s subsidiary Green Leaf Farms International.
We hope to resolve this and have the stock relisted fairly quickly. I will be following up with more information shortly to keep our shareholders informed.
As always, if you have questions please feel free to contact me directly.
Best Regards,
Mark Bradley
CEO, PNTV
