West Coast Ventures Group Corp (fka WCVC)

[PennyHoper]

July 19, 2023 court order, SEC vs bad-guy, cancelled conversion rights to WCVC stock ...

You know how coy google-search can get, hiding search-results that are clearly not new info. I just found this (PDF link, and note who owns the link)
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.securitieslawyer101.com/wp-content/uploads/2023/09/BHP.pdf

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
Case No. 1:23cv22233-GAYLES-TORRES
U.S. SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
BHP CAPITAL NY, INC. and
BRYAN PANTOFEL,
Defendants.
...
b) Within thirty (30) days after entry of Final Judgment, Defendant shall
surrender its conversion rights under all remaining convertible notes associated with the issuers
identified in Appendix B.
...
APPENDIX B
Notes To Which Defendant Shall Surrender Conversion Rights


{abbreviated table}
Symbol/Issuer Name/ Date of Note(s)
WCVC/West Coast Ventures Group Corp./6/27/19

The WCVC convertible note was issued in 2019. The conversion rights were cancelled in 2023.

Why bother to cancel a right that is seemingly moot, a right to convert a loan into shares of a revoked stock that allegedly will never come back, and thus never have any value?

-- edit --

The judgment also includes an order to disgorge over $2M in net profits, fines and interest, into a holding fund.

The Commission shall hold the funds, together with any interest and income earned thereon (collectively, the “Fund”), pending further order of the Court.

The Commission may propose a plan to distribute the Fund subject to the Court’s approval

It would be nice if WCVC got some of that distribution, wouldn't it? (But I don't know if that happened or will happen.)