Pacific Ventures Group Inc (OTCMKTS: PACV) is up big reversing off $0.0153 lows after many months of decline which included a 1:500 reverse stock split in summer 2020. The stock is on fire after the Company provided financial results for the fourth quarter and full year ended December 31, 2021. Revenues in 2021 increased 39% to a record $42.0 million, compared to $30.2 million in 2020. Revenues in the fourth quarter of 2021 increased 58% to a record $11.5 million, compared to $7.3 million in the same year-ago quarter. Gross profit in 2021 increased 45% to a record $4.9 million, compared to $3.4 million in 2020. Gross profit in the fourth quarter of 2021 increased 55% to $1.3 million, compared to $0.9 million in the same year-ago quarter.
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 $0.0153 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 Q4 as well as expected continued rapid growth should be enough to bring the spotlight on PACV and those 3 million shares worth $50,000 will be gone in a few hours. On Monday alone PACV traded over 8 million shares.
Pacific Ventures Group Inc (OTCMKTS: 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. The Company 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.
The Company supplies approximately 400 customer locations in the Southwest. 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. Pacific Ventures 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. The Company’s sales associates manage customer relationships at local and regional levels. Its distribution facilities and fleet of approximately 15 trucks allow the Company to operate efficiently and provide high levels of customer service.
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
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Pacific Ventures 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.
The stock has been on a tear since the Company provided financial results for the fourth quarter and full year ended December 31, 2021. Revenues in 2021 increased 39% to a record $42.0 million, compared to $30.2 million in 2020. Revenues in the fourth quarter of 2021 increased 58% to a record $11.5 million, compared to $7.3 million in the same year-ago quarter. Gross profit in 2021 increased 45% to a record $4.9 million, compared to $3.4 million in 2020. Gross profit in the fourth quarter of 2021 increased 55% to $1.3 million, compared to $0.9 million in the same year-ago quarter.
Shannon Masjedi, President and CEO of Pacific Ventures Group stated: “Our record revenues of $42 million in 2021 were directly attributed to our ability to meet increased demand from our existing customers while growing our sales channels. The strategic steps that we have taken to create efficiencies in our operating segments have positioned our company for continued expansion into 2022, with the restaurant sector now having fully recovered from pre-pandemic sales volumes. As we look forward, we are focused on leveraging cutting-edge technology to optimize processing, production, and distribution while realizing cross-selling synergies across our businesses. We are also continuing to employ an opportunistic approach to our growth strategy and maintain a robust pipeline of attractive acquisition candidates. I would like to thank our loyal customers and employees for their dedication as we work diligently to become a leading food and beverage distributor and ultimately create sustainable, long-term value for our stakeholders.”
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Management has big plans for PACV. In Fiscal Year 2022, the Company’s strategy is focused on
- incrementally increase sales and profitability of San Diego Farmers Outlet (SDFO) and Seaport Meat Company.
- expanding Snöbar production and distribution
- acquisition of food production or distribution companies that are synergistic with SDFO and Seaport Meat Company.
Seaport is looking to improve the current processing line and add and upgrade to a more efficient and automated processing line. This will allow Seaport to operate more efficiently and reduce the amount of overtime hours on the production line. Seaport plans to increase its customer base. Management plans to growth 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 We will be updating on PACV when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PACV.
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Disclosure: we hold no position in PACV either long or short and we have not been compensated for this article.