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Monday, June 24, 2024 5:22:54 PM
LOS ANGELES, CA / March 6, 2024 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (“Pacific Ventures” or the “Company”), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced that, in furtherance of the success of its ongoing balance sheet restructuring, the Company has completed payments on its long-standing debt obligation to BNA Investment Capital, LLC and TRA Capital, LLC.
“We are excited and proud to have paid off what started out as a $400,000 debt to BNA and TRA, and it reinforces our commitment to, and the success of, our ongoing balance sheet restructuring efforts,” stated Shannon Masjedi, President and CEO of Pacific Group Ventures.The fully repaid obligation to BNA Investment Capital and TRA Capital relates to a settlement agreement that arose from litigation that began in 2020.
“Our recent successes in restructuring our balance sheet have begun to yield increased cash flow available for our operations, which, we are convinced, will place our operating subsidiaries in a more favorable posture for increasing sales.” This further prepares and aligns with the Company’s goal of moving to a higher trading platform in the near future.
Recent PACV News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 06:14:21 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/21/2023 02:43:03 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/27/2023 09:24:44 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/25/2023 10:05:25 AM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/18/2023 04:47:41 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 07/19/2023 07:37:48 PM
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