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Saturday, July 2, 2022

Pleasant Kids Inc (OTCMKTS:PLKD) Drifts Into Oblivion

Pleasant Kids Inc (OTCMKTS:PLKD) made an explosive move up back in December of last year but has been in steep decline since drifting back into triple zero land on what looks like heavy dilution.

the bottled water market is worth well over a $100 billion a year globally and the sector has been responsible for many spectacular moves out of sub penny land. BeBevCo is a good fairly recent example.

Pleasant Kids Inc (OTCMKTS:PLKD) is a supplier of fresh, balanced alkalized mountain spring water and all natural apple juice developed and marketed specifically for kids. PLKD beverage products feature copyrighted mascot characters along with PLKD national “Where Healthy Begins” campaign promoting a healthy lifestyle.

All PLKD beverage products are eco-friendly, BPA free, Non-toxic, No Bisphenol A, and No Phthalates. Pleasant Kids Inc. owns and operates Pleasant Kids EXTRA, Inc. EXTRA manages the intellectual copyrights to the characters and makes them available for select and limited business development, sponsorship opportunities and licensing deals.

The shell has been around for years and was originally incorporated back in 2005 under the laws of the state of Florida as League Now Holdings Corporation. In February 2013 the Company changed their name to NYBD Holding, Inc. before the final incarnation as Pleasant Kids Inc., as of October 2014.

The good news campaign on PLKD started at the end of November with the announcement that the BOD had approved a stock buy-back program using 10% of all proceeds from the sales of apple juice and water products through their online store. They said they are adopting a stock trading plan as outlined in rule 10b5-1 and will commence buying PLKD in the open market through block trades.

On December 4 PLKD said they filed an amendment to their Articles of Incorporation to reduce the authorized shares from 10 Billion to 5 Billion. CEO Robert Rico said at the time “We are aggressively pursuing improvements to our share structure. It is our intent to restore shareholder value and build confidence in the growing of our brand. Our goal is to continue to reduce the authorized shares as well as our outstanding shares. We have set our sights high as it is our intent to reduce our share structure by at least 500 million to 1 billion shares by the end of 2015. We will reduce and retire shares on a monthly basis throughout 2015 and will post the results accordingly.”

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PLKD also announced their entry into 7-Eleven Stores starting with 3 locations in Florida including one in Clearwater and 2 in Orlando. The Company said they plan on adding 27 addition stores immediately and up to 300 7- Eleven stores in the near term.

The day before Christmas PLKD updated shareholders on a number of fronts including their MOU with an investment banking firm to raise $1.5 million via a preferred share placement. Management plans to use the proceeds to buy back the common stock as well as purchase their own water source and bottling facility and buy equipment necessary to make their own bottles and caps

The Company also said they are currently negotiating with two large shareholders who control upwards of 200 million shares to convert their holdings into preferred stock so they Company can retire the common stock. This goes along with Managements goal of a large scale share reduction of PLKD in 2015.

PLKD said they are gaining traction with their school partner ICCF Charter Schools and plan to deliver at least one pallet per month, per school on a recurring basis. This puts the Companies products directly in front of kids. The Company also said they will be a vendor at the upcoming Associated Grocers trade show in Feb. 2015.

Management said they plan on launching addition flavors including an all-natural fruit punch flavor set for April, 2015 and others slated for July. PLKD also plans to to bottle their high alkalized pH water in BPA free one gallon size containers by the summer of 2015.

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Currently drifting back into oblivion PLKD has minimal assets or revenues to date and rising short term debt which usually does and has resulted in massive dilution. The loyal shareholder base that was supporting this stock has moved on to greener pastures. We will be updating PLKD as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with PLKD.

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

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