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Sunday, November 27, 2022

Pacific Ventures Group Inc (OTCMKTS: PACV) Running Northbound After $0.0025 Reversal on Record Trading Volume

Pacific Ventures Group Inc (OTCMKTS: PACV) is making an explosive move up the charts in recent trading since reversing off $0.0025 lows. PACV is quickly getting noticed by penny stock speculators as the Company trades at a total $1.7 million market valuation and just recently reported revenues for the six months ended June 30, 2022 increased 11% to $20.9 million, compared to $18.8 million in the same year-ago period.  

While PACV has a growing business with very significant revenues for the bulletin boards the Company has over $9 million in liabilities which has led to a lot of dilution in the past. PACV drop to new 52-week lows of $0.0025 was due to restricted shares becoming unrestricted which are now free trading but those shares seem to have run out as PACV rockets northbound. 

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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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PACV

On August 25 PACV announced financial results for the second quarter and the 6 months ended June 30, 2022. Financial Results for the Six Months Ended June 30, 2022 

  • Revenues in the six months ended June 30, 2022 increased 11% to $20.9 million, compared to $18.8 million in the same year-ago period. The significant increase in revenue was primarily the result of marked increase in demand for our products. 
  • Gross profit in the six months ended June 30, 2022 increased 44% to $3.2 million, compared to $2.2 million in the same year-ago period. The resulting gross margin was 15.4% for the six month period, an increase from 11.9% for the same year-ago period. 
  • Operating expenses in the six months ended June 30, 2022 were $4.2 million, compared to $3.7 million in the same year-ago period. The increase in operating expense was due to an increase in operating activities. 
  • Net loss in the six months ended June 30, 2022 was $3.4 million, or $(0.02) per share, compared to a net loss of $2.3 million, or $(0.07) per share in the same year-ago period. 
  • The full text of the Company’s Annual Report on Form 10-Q for the quarter ended June 30, 2022 was filed with the SEC on August 22, 2022 and can be found here. 

Management Commentary 

“Our momentum has continued to build through the first half of 2022 as we continue to capitalize on strong consumer demand for quality food products,” said Shannon Masjedi, President and CEO of Pacific Ventures Group. “During the second quarter, we focused on strengthening our balance sheet to prepare our business for our next phase of growth. We were able to execute on this strategy while continuing to drive margin improvement across our operations. We are optimistic that the steps we have taken to position our company for long-term success will increasingly be reflected in our operational results as we strive to build sustainable value for our shareholders.” 

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Currently trading at a total $1.7 million market valuation PACV OS is 352,715,731 with 100 million shares in the public float or so. The Company is an SEC filer with over $500k in the treasury and over $8 million in assets and big revenues as the Company recently reported revenues for the six months ended June 30, 2022 increased 11% to $20.9 million, compared to $18.8 million in the same year-ago period. PACV has significant debt which has led to massive dilution in the past those shares seem to have run out as the stock reverses off new 52-week lows of $0.0025 and rockets northbound on record volume. While there has been no word from the Company penny stock speculators are heavily accumulating PACV and the stock is responding like a low floater and moving higher rapidly with a huge gap to fill; PACV skyrocketed to well over a dime in June 2022 the last time it ran. 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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