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Wednesday, November 30, 2022

Pacific Ventures Group Inc (OTCMKTS: PACV) Major Reversal Northbound as Foods Wholesale and Distribution Co Reports Rapid Growth & Record Q1, 2022 Revenues

Pacific Ventures Group Inc (OTCMKTS: PACV) is making a steady move northbound and is quickly attracting some big players on the OTCQB looking for a winner in overall rough markets. PACV certainly has a lot going for it, the stock was trading at $0.70 this time last year and recently reversed off $0.011 lows after 12 months of steady declines popping to $0.111 overnight showing serious spring in its step before a brief dip below $0.03 and is now northward bound, with fast growing volume and legions of new shareholders jumping on board. PACV is a revenues powerhouse reporting record Q1 results of $10.4 million up 43% from Q1, 2021. Gross margins were up 91% to a record $1.7 million driven by operational improvements. The Company recently reported its annual revenues in 2021 increased 39% to a record $42.0 million, compared to $30.2 million in 2020, a year in which the Company completed a 1:500 reverse stock split. 

PACV has a very tight share structure and small float, there are 43,566,072 total shares outstanding however 30,359,008 are restricted leaving just 13,207,064 free trading PACV on the market worth $255,000. Part of what fueled the most recent PACV drop to new 52-week lows of $0.0111 was restricted shares becoming unrestricted which are now free trading; at least 3 million shares PACV had the legend removed and are now free trading just over the past month, however this does not affect the overall OS. This has created a significant market opportunity; 2021 revenues of $42 million up 39% from the year before and a record Q1, 2022 as well as expected continued rapid growth should be enough to bring the spotlight on PACV. The stock is topping 5 million shares traded per day with just 13 million free trading PACV shares available so this is the kind of situation that can get explosive quickly. 

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Pacific Ventures Group, Inc. (OTC:PACV) Relationships + Innovation + Leadership operating out of its executive offices at 117 West 9th Street, Suite 316, Los Angeles, California, PACV is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. PACV has a number of processing facilities that a registered with the FDA for meat, poultry, seafood and produce products. These units are registered and inspected by the USDA and the FDA as applicable. The Company has 5 employees at the corporate level and hires independent contractors to perform specific tasks related to the Company’s business interests. Seaport Group Enterprises LLC has 67 employees. Royalty Foods Partners LLC has 15 employees. 

PACV supplies approximately 400 customer locations in the Southwest and has approximately 600 individual suppliers. These customer locations include independently owned single and multi-unit restaurants, regional restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations. The Company provides more than 3,000 fresh, frozen, and dry food stock-keeping units, or SKUs, as well as non-food items, sourced from multiple suppliers. Pacific Ventures sales associates manage customer relationships at local and regional levels and the Company runs a distribution facility and fleet of approximately 15 trucks allow it to operate efficiently and provide high levels of customer service. PACV companies include: 

SnöBar Frozen Cocktails is Alcohol Infused Ice Cream and Ice Pops made with all natural ingredients and premium alcohol with a full cocktail in every serving. 

Seaport Meat Company was established in 1980 and manufactures custom processed beef, pork, chicken, lamb, veal and seafood. 

San Diego Farmers Outlet is San Diego’s premier supplier of affordable fresh fruits and vegetables and specialty groceries for retail customers and wholesale restaurants. 

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Last week Pacific Ventures announced first quarter 2022 results reporting revenues increased 43% to $10.4 million over Q1, 2021 and Q2 gross margin increased 91% to a record $1.7 million driven by operational improvements. Gross profit margin was 16.2% in the first quarter of 2022, representing an improvement of 40 bps from the same year-ago quarter. 

Pacific Ventures plans to relaunch Snöbar production and distribution by partnering with third-party manufacturers and co-packers, and with third-party distributors that can sell Snöbar products to high-end restaurants, resorts, cruise lines and hotels worldwide. Initially, the focus will be on establishing major accounts in four core markets consisting of Southern California, Phoenix, Las Vegas and Miami. The larger vision is to sell products in grocery stores such as Kroger, Wal-Mart and others, and thereafter to begin a national marketing program to all U.S. retailers. It is essentially a top-down marketing plan where products are placed with the largest retailer then trickle down to the smallest seller in each market area. Because Seaport Meat Company of America can efficiently add new product lines, it is expected that this will expand the distribution of Pacific Ventures’ San Diego Farmers Outlet and SnoBar product line, thereby accelerating Pacific Ventures’ revenue growth 

The Company plans to grow through acquisitions of similar meat and food processing/distributing companies located within the Southwest. The Company has identified and is currently speaking with a few key opportunities. PACV plans to acquire food production and distribution businesses that will help the Company grow its food, beverage and alcohol-related products businesses. Management continues to engage in preliminary discussions with potential investors in order to properly fund potential acquisitions.  

Earlier this year PACV engaged international investor relations specialists MZ Group (“MZ”) to lead a comprehensive strategic investor relations and financial communications program across all key markets. MZ Group will work closely with Pacific Ventures management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how Pacific Ventures is rapidly gaining market share among food and beverage distributors by leveraging its diverse portfolio of operating subsidiaries to service increasing demand and evolving preferences from consumers.  

Shannon Masjedi, President and CEO of Pacific Ventures Group stated:  “We continue to see strong demand from our growing customer base, which allowed us to deliver another quarter of record revenues. As we grow our sales channels to unlock new growth avenues, our strategy to generate operational efficiencies is also taking hold, as reflected by our notable year-over-year and sequential improvements in gross margin during the quarter. We are pleased to see our technology-based approach to enhancing our supply chain and distribution functions take effect, which will allow us to have greater flexibility in the quarters ahead. I look forward to the remainder of 2022, which is shaping up to be a breakout year for Pacific Ventures as we work diligently to generate long-term value for our stakeholders.” 

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Currently trading at a total $7.5 million market valuation PACV is an SEC filer getting its 10Q and 10k’s out on time. Management has big plans for PACV. In Fiscal Year 2022, the Company’s strategy is focused on incrementally increasing sales and profitability of its San Diego Farmers Outlet (SDFO) and Seaport Meat Company subsidiaries. Expanding Snöbar production and distribution as well as future acquisitions of food production or distribution companies that are synergistic with SDFO and Seaport Meat Company. Seaport plans to increase its customer base and management plans to grow SDFO’s wholesale business by expanding its delivery territory from 40 miles to a 75-mile radius and add to the current fleet of delivery trucks. The Company has already begun marketing to new restaurants in the area, most notably Asian and Italian restaurants, and have let restaurants know that SDFO can deliver the finest produce in market. PACV is one exciting penny stock that has significant potential from current levels. Like any penny stock there are plenty of risks, for example; PACV’s primary customer is La Jolla which accounts for 42.5% of total revenues. There is some selling but not much, VERT sold a bunch on Friday but not enough for a t-trade at the close. PACV management may be looking to majors in the food business such as Tyson, US foods or Sysco to take Seaport Meats & SnoBar nationwide. Microcapdaily first reported on PACV on May 2, 2022 when PACV was under $0.02 a week before it ran to $0.11. We are reinitiating covering as it reverses northbound once again off the $0.03. We will be updating on PACV very shortly so make sure you are subscribed to Microcapdaily. 

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Disclosure: we hold no position in PACV either long or short and we have not been compensated for this article.

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