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Replies to post #23457 on West Coast Ventures Group Corp (fka WCVC)
08/29/24 10:26 AM
The settlement with GHS is just the latest win for the SEC against toxic lenders operating as unregistered securities dealers who leave a trail of destruction and investor losses in their paths.
The conversion rights were cancelled in 2023
The WCVC convertible note was issued in 2019
The judgment 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
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 company has 7 operating restaurants,
* has expanded (slightly) since it was revoked,
* and at least one toxic lender was forced to cancel toxic notes (in 2023).
Those are also truths about the company.
The WCVC convertible note was issued in 2019. The conversion rights were cancelled in 2023.
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
09/26/24 3:47 PM
AI
