FT. LAUDERDALE, Fla., Jan. 14, 2014 /PRNewswire/ -- PV Enterprises International, Inc. (OTC: PVEC, the "Company") wishes to inform our shareholders that as of January 10, 2014, the company has identified a total of 1,098,686,000 shares of its common stock as having been issued during the course of multiple conversions of the same notes. The company initially identified the extent of these multiple conversions in late November 2013 and has since worked diligently to identify all parties responsible. As such, we have worked with various regulatory offices, the authorities and our recently retained legal counsel to assist us in our efforts to conduct a comprehensive identification of these activities.
Effective January 14, 2014, the company has successfully completed the collection and return of 499,998,000 shares of its common stock back to the company treasury for cancellation. This as a result of successful negotiations with parties issued stock during the aforementioned activities.
Presently, there are 598,688,000 shares of common stock that the company has issued a "Stop Order" on. We are confident all efforts will ultimately assist us in returning all suspect stock to the corporate treasury.
We wish to extend our gratitude to our shareholders for their patience as we continue to proceed in our actions to reverse these issues and move forward in securing a bright future for our shareholders and the company.
On January 13, 2014 the company announced its merger with Go Charts Marine, L.L.C. (VCG Navigation). VCG has positioned itself in Fort Lauderdale, Florida "the Venice of America", the boating capital of the world. Ft. Lauderdale consists of some of the leading yacht manufacturers and yacht accessories companies.
Go Charts Marine, L.L.C./VCG Navigation was formed November 31, 2000 in Ft. Lauderdale, Florida to provide recreational boaters with the required information to fully enjoy their experience on the water. Go Charts Marine/VCG Navigation is a member of the Marine Industries Association of South Florida (M.I.A.S.F.). Go Charts Marine/VCG Navigation has developed and brought to market a unique weatherproof nautical publication encompassing navigational features (charts), points of interest (fuel docks, marinas, restaurants, color coded speed / manatee zones, etc., all copy written) with display advertising of interest to all boaters, in a simple-to-navigate, floating format ideally suited for the industry, "THE VISUAL CRUISING GUIDE". The VCG is area specific and each geographical region such as Florida, California, Washington, New York, Virginia, Massachusetts and Connecticut for example, all are divided into sections with each section size primarily determined by the amount of waterways and boating related businesses in that area.
Income from VCG Navigation is currently generated as follows:
1.) Guide Sales (retail and wholesale)
2.) Advertising Sales within the publication & software
3.) Online Web Ad Sales.
Go Charts Marine's printed publication has been an enormous success over the past 13 years, during which time the company has developed the most current GIS (Geographical Information System) Data Layers for each areas brought to market. VCG and a team of programmers have completed the second stage of programming and basic design layout of our very own GIS Mobile navigational "App" Chart interface from our cloud server. Go Chart Marine/VCG Navigation is using existing and proven technologies in various fields, combining them to design our own unique software & charts that should soon become an industry standard.
VCG provides a full spectrum of navigational & reference products, including but not limited to:
Visual Cruising Guides (20)
Quick Reference Guides (4)
GPS / Wi-Fi Chart Plotters
Navigational "App" Cloud Sever System*
VCG Navigation is expanding quickly due to its extensive client base and use of automation. Through modern technology and advanced equipment, our products are processed from online orders to drop shipping and from raw material to finished products. With a simple click of the mouse or a phone call, orders can be shipped nationally or internationally.
This alliance between PV Enterprises International & Go Charts Marine/VCG affords this partnership the ability to rapidly increase its reach into the maritime and ecotourism industry utilizing a unique approach founded on considerable expertise within the maritime industry.
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Safe Harbor Statement: This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of PV Enterprises International, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
SOURCE PV Enterprises International, Inc.