They have had a string of failed businesses in the past. That's the point.
There is no unique IP, no real business plan, and phantom equity in PeopleVine.
Sorkin still controls through preferred:
This is nonsense:
On June 1, 2023, ACG entered into a Secured Loan and Equity agreement with Say Less Spritz, LLC. The agreement includes a loan from ACG to Say Less in the amount of $250,000 and gives ACG a secured position earning interest and a 5% equity position in the company. Say Less Spritz, LLC acquired all the rights to the Rose Spritz / Coastal Spritz brands and business. ACG also entered into a consulting agreement with Say Less Spritz
B. List any subsidiaries, parent company, or affiliated companies. As of December 31, 2022 and June 30, 2023 the company has two (2) wholly owned subsidiaries: 6403 N. Wayne Owner, LLC Peak Construction Group, LLC
C. Describe the issuers’ principal products or services. The Company seeks to operate as a holding company. The Company believes that this may allow the Company to gain the benefits that may serve a “shared resource strategy” whereby its subsidiaries and real estate investments may gain the benefits of vertical integration with the opportunity to achieve operating efficiencies and cost savings. If these efforts are successful, the Company anticipates that it may, subject to market conditions, acquire additional real estate assets with a focus on special situations and distressed assets.