0001213900-18-011414.txt : 20180820 0001213900-18-011414.hdr.sgml : 20180820 20180820131209 ACCESSION NUMBER: 0001213900-18-011414 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 47 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180820 DATE AS OF CHANGE: 20180820 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Pacific Ventures Group, Inc. CENTRAL INDEX KEY: 0000882800 STANDARD INDUSTRIAL CLASSIFICATION: BEVERAGES [2080] IRS NUMBER: 752100622 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54584 FILM NUMBER: 181027827 BUSINESS ADDRESS: STREET 1: 117 WEST 9TH STREET SUITE 316 CITY: LOS ANGELES STATE: CA ZIP: 90015 BUSINESS PHONE: 310-392-5606 MAIL ADDRESS: STREET 1: 117 WEST 9TH STREET SUITE 316 CITY: LOS ANGELES STATE: CA ZIP: 90015 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN EAGLE GROUP INC DATE OF NAME CHANGE: 19940301 10-Q 1 f10q0618_pacificventures.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2018

 

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

 

For the transition period from -___________ to _____________

 

Commission File Number 000-54584

 

PACIFIC VENTURES GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   75-2100622
(State or other jurisdiction of   (I.R.S. Employer
incorporation or organization)   Identification No.)
     
117 West 9th Street Suite 316 Los Angeles California   90015
(Address of principal executive offices)   (Zip Code)

 

310-392-5606

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒  No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒  No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or, an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company”, in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐   Accelerated filer ☐
Non-accelerated filer ☐   Smaller reporting company ☒
(Do not check if smaller reporting company)   Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐  No ☒

 

As of June 30, 2018, there were 82,626,293 shares of the registrant’s common stock, $0.001 par value per share, issued and outstanding.

  

 

 

 

 

 

PACIFIC VENTURES GROUP, INC.

 

TABLE OF CONTENTS

 

PART I. – FINANCIAL INFORMATION  
   
Item 1.  Financial Statements 1
   
Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations 17
   
Item 3.  Quantitative and Qualitative Disclosures about Market Risk 23
   
Item 4.  Controls and Procedures 23
   
PART II. – OTHER INFORMATION  
   
Item 1.  Legal Proceedings 24
   
Item 1A.  Risk Factors 24
   
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds 24
   
Item 3.  Defaults Upon Senior Securities 24
   
Item 4.  Mine Safety Disclosures 24
   
Item 5.  Other Information 24
   
Item 6.  Exhibits 25
   
              Signatures 27

  

 i

 

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

Condensed Consolidated Balance Sheets as of June 30, 2018 (unaudited) and December 31, 2017 (audited) 2
   
Condensed Consolidated Statements of Operations for the six months ended June 30, 2018 and 2017 (unaudited) 3
   
Condensed Consolidated Statements of Cash Flows for the three ended June 30, 2018 and 2017 (unaudited) 4
   
Notes to the condensed consolidated financial statements (unaudited) 5

  

 1 

 

 

PACIFIC VENTURES GROUP, INC.

Condensed Consolidated Balance Sheets

 

   For the six months
ended
     
   June 30,
2018
   December 31,
2017
 
   (unaudited)   (audited) 
         
ASSETS        
Current Assets:      
Cash and cash equivalents  $146,583   $69 
Accounts receivable   220,263    6,589 
Inventory, net   65,896    - 
Other current assets   6,259    - 
Deposits   1,500    1,500 
Total Current Assets   440,501    8,158 
Fixed Assets          
Fixed assets, net   128,821    27,843 
Total Fixed Assets   128,821    27,843 
Other Assets          
Intangible Assets   950,000    - 
Rent Deposit   6,000    - 
    956,000    - 
TOTAL ASSETS  $1,525,322   $36,001 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current Liabilities:          
Accounts payable   477,612    171,085 
Accrued expenses   385,801    332,503 
Deferred revenue          
Current portion, notes payable   557,193    456,914 
Current portion, notes payable - related party   283,343    353,759 
Current portion, leases payable   88,896      
Total Current Liabilities   1,792,844    1,314,261 
           
Long-Term Liabilities:          
Notes payable   1,790,279    311,821 
Notes payable - related party   42,000    42,000 
Total Long-Term Liabilities   1,832,279    353,821 
           
Total Liabilities  $3,625,123   $1,668,082 
           
STOCKHOLDERS’ EQUITY (DEFICIT)          
Preferred stock, $.001 par value, 10,000,000 shares authorized, 1,000,000 Series E, issued and outstanding  $1,000   $1,000 
Common stock, $.001 par value, 100,000,000 shares authorized, 82,626,293 and 36,430,248 issued and outstanding, respectively   82,627    36,430 
Additional paid in capital   4,530,065    4,300,514 
Accumulated deficit   (6,713,491)   (5,970,024)
           
Total Stockholders’ Equity (Deficit)   (2,099,800)   (1,632,080)
           
Total Liabilities and Stockholders’ Equity (Deficit)  $1,525,322   $36,001 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 2 

 

 

PACIFIC VENTURES GROUP, INC.

Condensed Consolidated Statements of Operations

(unaudited)

 

   For the three months ended   For the six months ended 
   June 30,   June 30, 
   2018   2017   2018   2017 
                 
Sales, net of discounts  $690,135   $-   $690,135   $- 
Cost of Goods Sold   481,673    -    481,673    - 
Gross Profit   208,462    -    208,462    - 
Operating Expenses                    
Selling, general and administrative   198,515    101,028    370,071    205,725 
Marketing and Advertising   6,208         54,895      
Penalty on Payroll Taxes        12,807         12,807 
Depreciation expense   531    998    1,598    1,997 
Financing Cost                  22,500 
Professional fees   72,508         265,369    - 
Salaries and wages        6,437         6,437 
Operating Expenses/(Loss)   277,762    121,270    691,933    249,466 
Loss from Operations   (277,762)   (121,270)   (483,471)   (249,466)
Other Non-Operating Income and Expenses                    
Gain on shares issued for services   -    -    -    - 
Interest expense   (189,148)   (9,898)   (255,113)   (16,439)
Forgiveness of Debt        2,449         6,849 
Extraordinary Items        -         15,042 
Net Income/(Loss) before Income Taxes   (258,448)   (128,719)   (738,584)   (244,014)
Provision for income taxes   -    -    -    - 
Net Income/(Loss)  $(258,448)   (128,719)  $(738,584)   (244,014)
Basic and Diluted Loss per Share -  Common Stock  $0.00313   $(0.00374)  $0.00894   $(0.00709)
                     
Weighted Average Number of Shares Outstanding:                    
Basic and Diluted Class A Common Stock   82,626,293    34,437,000    82,626,293    34,437,000 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 3 

 

 

PACIFIC VENTURES GROUP, INC.

Condensed Consolidated Statements of Cash Flows

(unaudited)

  

   For the six months ended 
   June 30, 
   2018   2017 
         
OPERATING ACTIVITIES        
Net loss  $(738,584)  $(244,014)
Adjustments to reconcile net loss to net cash used in operating activities:          
Shares issued for services   58,051      
Accumulated Depreciation   (34,628)   1,997 
Changes in operating assets and liabilities          
Accounts receivable   (220,074)   (5,406)
Inventory   (70,412)     
Trucks   88,896      
Deposits   (6,000)     
Accounts payable   209,841    (16,373)
Accrued expenses   53,299    38,517 
Repayment of notes payable   (208,500)   88,047 
Retirement of fixed assets   85,488      
Net Cash Used in Operating Activities   (782,622)   (137,231)
INVESTING ACTIVITIES          
Loan Receivable   (1,600)     
Computers   (10,426)     
Purchase of equipment, building & improvements   (141,413)   - 
Goodwill and Intangible Assets   (950,000)     
Net Cash Provided By (Used In) Investing Activities   (1,103,439)   - 
           
FINANCING ACTIVITIES          
Proceeds from notes payable   2,058,778    10,000 
Proceeds from notes payable - Related          
Repayment of notes payable   (175,000)   (352,333)
Repayment of notes payable - Related   (70,416)     
Shares issued for debt conversion   224,096    412,333 
Common stocks issued for cash        41,863 
Prior period adjustment to retained earnings   (4,884)     
Net Cash Provided by Financing Activities   2,032,575    111,863 
           
NET INCREASE (DECREASE) IN CASH   146,514    (25,369)
CASH AT BEGINNING OF PERIOD   69    25,284 
           
CASH AT END OF PERIOD  $146,583   $(85)
           
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION          
           
CASH PAID FOR:          
Interest  $29,563   $- 
NON CASH FINANCING ACTIVITIES:          
Issuance of shares for debt conversion  $224,096   $- 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 4 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

1. NATURE OF OPERATIONS

 

The Company and Nature of Business

 

Pacific Ventures Group, Inc. (the “Company,” “we,” “us” or “our”) was incorporated under the laws of the state of Delaware on October 3, 1986, under the name AOA Corporation. On November 12, 1991, the Company changed its name to American Eagle Group, Inc. On October22, 2012, the Company changed its name to “Pacific Ventures Group, Inc.”.

 

The current structure of the Company resulted from a share exchange with Snöbar Holdings, Inc. (“Snöbar Holdings”), which was treated as a reverse merger for accounting purposes. On August 14, 2015, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Snöbar Holdings, pursuant to which the Company acquired 100% of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B common stock in exchange for 22,500,000 restricted shares of the Company’s common stock, while simultaneously issuing 2,500,000 restricted shares of the Company’s common stock to certain other persons, including for services provided and to a former officer of the Company (the “Share Exchange”).

 

As the result of the Share Exchange, Snöbar Holdings became the Company’s wholly owned operating subsidiary and the business of Snöbar Holdings became the Company’s sole business operations and MAS Global Distributors, Inc., a California corporation (“MGD”), became an indirect subsidiary of the Company.

 

Prior to the Share Exchange, the Company operated as an insurance holding company and through its subsidiaries, which marketed and underwrote specialized property and casualty coverage in the general aviation insurance marketplace. However, in 1997, after selling several of its divisions, the Company’s remaining insurance operations were placed into receivership and the Company ceased operating its insurance business.

 

Since the Share Exchange represents a change in control of the Company and a change in business operations, the business operations changed to that of Snöbar Holdings and the discussions of business operations accompanying this filing are solely that of Snöbar Holdings and its affiliates and subsidiaries comprising of Snöbar Trust, International Production Impex Corporation, a California corporation (“IPIC”), and MGD.

 

Snöbar Holdings was formed under the laws of the State of Delaware on January 7, 2013. Snöbar Holdings is the trustor and sole beneficiary of Snöbar Trust, a California trust (“Trust”), which was formed in June 1, 2013. The current trustee that holds legal title to the Trust is Azita Davidiyan. The Trust owns 100% of the shares of IPIC, which was formed on August 2, 2001. IPIC is in the business of selling alcohol-infused ice cream and ice-pops, and holds all of the rights to the liquor licenses to sell such products and trade names “Snöbar”. As such, the Trust holds all ownership interest of IPIC and its liquor licenses, permitting IPIC to sell its product to distributors, with all income, expense, gains and losses rolling up to the Trust, of which Snöbar Holdings is the sole beneficiary. Snöbar Holdings also owns 99.9% of the shares of MGD. MGD is in the business of selling and leasing freezers and providing marketing services. As a result of the foregoing, Snöbar Holdings is the primary beneficiary of all assets, liabilities and any income received from the business of the Trust and IPIC through the Trust and is the parent company of MGD.

 

The Trust and IPIC are considered variable interest entities (“VIEs”) and Snöbar Holdings is identified as the primary beneficiary of the Trust and IPIC. Under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Snöbar Holdings performs ongoing reassessments of whether it is the primary beneficiary of a VIE. As the assessment of Snöbar Holdings’ management is that Snöbar Holdings has the power to direct the activities of a VIE that most significantly impact the VIE’s activities (it is responsible for establishing and operating IPIC), and the obligation to absorb losses of the VIE that could potentially be significant to the VIE and the right to receive benefits from the VIE that could potentially be significant to the VIE’s economic performance, it was therefore concluded by management that Snöbar Holdings is the primary beneficiary of the Trust and IPIC. As such, the Trust and IPIC were consolidated in the financial statements of Snöbar Holdings since the inception of the Trust, in the case of the Trust, and since the inception of Snöbar Holdings, in the case of IPIC.

  

 5 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

Principles of Consolidation

 

The consolidated financial statements include the accounts of the Company, Snöbar Holdings and its subsidiaries, in which Snöbar Holdings has a controlling voting interest and entities consolidated under the variable interest entities (“VIE”) provisions of ASC 810, “Consolidation” (“ASC 810”). Inter-company balances and transactions have been eliminated upon consolidation.

 

The Company applies the provisions of ASC 810 which provides a framework for identifying VIEs and determining when a company should include the assets, liabilities, non-controlling interests and results of activities of a VIE in its consolidated financial statements.

 

In general, a VIE is a corporation, partnership, limited-liability corporation, trust, or any other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that is unable to make significant decisions about its activities, (3) has a group of equity owners that does not have the obligation to absorb losses or the right to receive returns generated by its operations or (4) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities (for example, providing financing or buying assets) either involve or are conducted on behalf of an investor that has disproportionately fewer voting rights.

 

ASC 810 requires a VIE to be consolidated by the party with an ownership, contractual or other financial interest in the VIE (a variable interest holder) that has both of the following characteristics: a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE.

 

A variable interest holder that consolidates the VIE is called the primary beneficiary. If the primary beneficiary of a variable interest entity (VIE) and the VIE are under common control, the primary beneficiary shall initially measure the assets, liabilities, and non-controlling interests of the VIE at amounts at which they are carried in the accounts of the reporting entity that controls the VIE (or would be carried if the reporting entity issued financial statements prepared in conformity with generally accepted accounting principles). ASC 810 also requires disclosures about VIEs in which the variable interest holder is not required to consolidate but in which it has a significant variable interest.

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Principles of Consolidation

 

The consolidated financial statements include the Company, Snöbar Holdings, MGD, IPIC, and the Trust, which was established to hold IPIC, which in turn holds liquor licenses. All inter-company accounts have been eliminated during consolidation. See the discussion in Note 1 above for variable interest entity treatment of the Trust and IPIC.

 

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Revenue Recognition

 

Sales revenues are generally recognized in accordance with the SAB 104 Public Company Guidance, when an agreement exists and price is determinable, the products are shipped to the customers or services are rendered, net of discounts, returns and allowance and collectability is reasonably assured. We are often entitled to bill our customers and receive payment from our customers in advance of recognizing the revenue. In the instances in which we have received payment from our customers in advance of recognizing revenue, we include the amounts in deferred or unearned revenue on our consolidated balance sheet.

  

 6 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

Unearned Revenue

 

Certain amounts are received pursuant to agreements or contracts and may only be used in the conduct of specified transactions or the related services are yet to be performed. These amounts are recorded as unearned or deferred revenue and are recognized as revenue in the year/period the related expenses are incurred or services are performed. As of June 30, 2018, the Company has $0 in deferred revenues.  As of December 31, 2017, the Company also had $0 deferred revenue.

 

Shipping and Handling Costs

 

The Company’s shipping costs are all recorded as operating expenses for all periods presented.

 

Disputed Liabilities

 

The Company is involved in a variety of disputes, claims, and proceedings concerning its business operations and certain liabilities. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.  As of June 30, 2018, the Company has $31,858 in disputed liabilities on its balance sheet.

 

In addition, on January 28, 2016, a labor dispute between IPIC and a former employee was ruled in favor of the former employee by the Labor Commissioner of the State of California.  This finding resulted in compensation expenses of $29,103 and an accrued liability of the same amount on IPIC book for the six months ended June 30, 2018.

 

Cash Equivalents

 

The Company considers highly liquid instruments with original maturity of six months or less to be cash equivalents. As of June 30, 2018, the Company has a cash balance of $146,583 in cash and cash equivalents, compared to $69 at December 31, 2017.

 

Accounts Receivable

 

As of June 30, 2018 the Company had $220,263 in Accounts Receivable. Accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based upon the level of past due accounts and the relationship with and financial status of our customers. The Company did not write off any bad debts during the six months ended June 30, 2018 and 2017, and thus has not set an allowance for doubtful accounts.

 

Inventories

 

Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials. As of June 30, 2018, the Company has $65,896 in inventories.

  

 7 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

Income Taxes

 

Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

 

Net Income/(Loss) Per Common Share

 

Income/(loss) per share of common stock is calculated by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company has no potentially dilutive securities. Accordingly, basic and dilutive income/(loss) per common share are the same.

  

Property and Equipment

 

Property and equipment are carried at cost less accumulated depreciation and includes expenditures that substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are expensed as incurred. Upon sale or retirement of property and equipment, the cost and related accumulated depreciation are eliminated from the respective accounts and the resulting gain or loss is included in the results of operations. The Company provides for depreciation of property and equipment using the straight-line method over the estimated useful lives or the term of the lease, as appropriate. The estimated useful lives are as follows: vehicles, five years; office furniture and equipment, three to fifteen years; equipment, three years.

 

Fair Value of Financial Instruments

 

The carrying amounts of the Company’s financial instruments, which include cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to the short-term maturity of these instruments. The Company performed an independent valuation of San Diego Farmers Outlet (SDFO), in which it was determined that $950,000 if goodwill could be realized by the Company.

 

Concentration of Credit Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to limits of approximately $250,000. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts.

 

Critical Accounting Policies

 

The Company considers revenue recognition and the valuation of accounts receivable, allowance for doubtful accounts, and inventory and reserves as its significant accounting policies. Some of these policies require management to make estimates and assumptions that may affect the reported amounts in the Company’s financial statements.

 

Recent Accounting Pronouncements

 

In June 2009, the FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”).  Rules and interpretive releases of the Securities and Exchange Commission (the “SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.  Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements.  The ASC does change the way the guidance is organized and presented.

  

 8 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

In April 2015, FASB issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”, to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-04, “Compensation – Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets”, which permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-05, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If such includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.

 

In April 2015, FASB issued ASU No. 2015-06, “Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions”, which specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted.

 

In June 2014, FASB issued ASU No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company’s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application is permitted with the first annual reporting period or interim period for which the entity’s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). Our company adopted this pronouncement.

 

 9 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

In June 2014, FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition. 

 

In August 2014, the FASB issued ASU 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued).

 

All other newly issued accounting pronouncements which are not yet effective have been deemed either immaterial or not applicable.

 

We reviewed all other recently issued accounting pronouncements and determined these have no current applicability to the Company or their effect on the financial statements would not have been significant.

 

3. GOING CONCERN

 

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying consolidated financial statements, the Company has incurred a net loss of $738,584 for the six months ended June 30, 2018, and has an accumulated deficit of $6,713,491 as of June 30, 2018.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is significantly dependent upon its ability, and will continue to attempt, to secure equity and/or additional debt financing. There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern.

 

The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited consolidated financial statements do not include any adjustments that might arise from this uncertainty.

  

 10 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

4. INVENTORIES

 

As of June 30, 2018, the Company has $65,896 in inventories. Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials.

  

5. PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment at June 30, 2018 and December 31, 2017, consisted of:

 

   June 30,
2018
   December 31,
2017
 
Computers  $11,788   $15,986 
Freezers   0    39,153 
Office Furniture   0    15,687 
Rugs   0    6,000 
Software - Accounting   0    2,901 
Telephone System   0    5,814 
Video Camera   218    1,528 
Building & Improvement   25,000    - 
Forklift 1   3,000    - 
Forklift 2   2,871    - 
Truck 2004 Hino 1   10,000      
Truck 2004 Hino 2   10,000      
Truck 2018 Hino 155 5347   30,181      
Truck 2018 Hino 155 5647   30,181      
Truck 2018 Hino 155 5680   30,181      
           
Accumulated Depreciation   (24,598)   (59,225)
           
Net Book Value  $128,821   $27,843 

 

Depreciation expense for the six months ended June 30, 2018 was $5,094.47compared to $1,997 for the same period of June 30, 2017.

  

6. ACCRUED EXPENSE

 

As of June 30, 2018, the Company had accrued expenses of $385,801 compared to $332,503, for the year-end December 31, 2017.

  

7. INCOME TAX

 

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements.  Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

  

 11 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

8. RELATED PARTY TRANSACTIONS

 

The following table presents a summary of the Company’s promissory notes issued to related parties as of June 30, 2018:

 

Noteholder  Note
Amount
   Issuance
Date
  Unpaid
Amount
 
S. Masjedi  $150,000   12/10/2010  $122,692 
A. Masjedi   500,000   6/1/2013   215,653 
M. Shenkman   10,000   2/21/2012   10,000 
M. Shenkman   10,000   2/23/2012   10,000 
M. Shenkman   10,000   3/14/2013   6,000 
M. Shenkman (Entrust)   16,000   9/9/2014   16,000 
   $696,000      $380,345 

 

The following description represent note payable-related party transaction pre-Share Exchange that were assumed by the Company as a condition to the Share Exchange:

 

On February 21, 2012, Snöbar Holdings entered into an unsecured promissory note with Mr. Shenkman, who is Chairman of the Board of Directors and a shareholder of the Company. The note had a principal balance of $10,000 with an interest rate of 5% and is due on demand. The note’s maturity date has subsequently been extended to December 31, 2020. Interest against the note was extinguished in a subsequent extension of the term. The note had a principal balance of $10,000 as of June 30, 2018.

 

On February 23, 2012, Snöbar Holdings entered into a promissory note with Mr. Shenkman for $10,000, maturing in one year at an interest of 8%. The note has subsequently been extended to December 31, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note had an outstanding balance of $10,000 as of June 30, 2018.

 

On March 14, 2013, Snöbar Holdings entered into an unsecured promissory note with a Mr. Shenkman, the Company’s Chairman of the Board of Directors. The note had a principal balance of $10,000 with an interest rate of 5% and an original maturity date of March 14, 2014, subsequently extended to December 31, 2020 with a lower interest rate of 2%/year. Mr. Shenkman also agreed to make all interest retroactive and deferred. The note had an outstanding balance of $6,000 as of June 30, 2018.

 

On June 1, 2013, Snöbar Holdings entered into a promissory note with Azizolla Masjedi, father-in-law to Shannon Masjedi who’s the Company’s President, Chief Executive Officer, Interim Chief Financial Officer, director and majority stockholder, in an amount of $500,000 to purchase all the shares and interests of IPIC. The note matured on June 31, 2017. As of June 30, 2018, the outstanding balance under this note was $231,067, which includes interest and penalty charges. The current balance is $215,653.

 

On September 9, 2014, Snobar Holdings entered into a second unsecured promissory note with Mr. Shenkman, through his affiliate company Entrust Group for a total amount of $6,000 and a third unsecured promissory note for a total amount of $10,000, both at an annual interest rate of 2%. No term was provided for in each note, but Mr. Shenkman has agreed to a maturity date of December 31, 2020 and the accrual of interest rates and deferral to maturity. The notes had an aggregate outstanding balance of $16,000 as of June 30, 2018.

 

As of June 30, 2018, the Company had related party current and long-term notes payable of $283,343 and $42,000, respectively.

  

 12 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

The following table presents a summary of the Company’s promissory notes issued to unrelated

 

    Note Amount     Issuance Date   Balance  
A. Rodriguez   $ 86,821     3/14/13   $ 86,821  
A. Rodriguez     15,000     7/22/13     15,000  
A. Rodriguez     10,000     2/21/14     10,000  
TRA Capital     106,112     3 loans     106,112  
BNA Inv     223,499     6 loans     223,499  
Morning View     35,000     10/26/2017     18,990  
Brian Berg     30,000     2/1/12     25,000  
Classic Bev     73,473     5/1/17     82,673  
Crown Bridge     33,000     2/22/18     33,000  
JSJ Investments     75,000     7/12/17     55,000  
PowerUp     119,000     7/25/17     37,919  
TCA Global Fund     1,750,000     5/1/2018     1,750,000  
Total   $ 2,556,905         $ 2,444,014  

 

The following description represent unrelated notes payable transactions pre-reverse merger between Snöbar and the Company that were assumed by the Company as a condition to the Share Exchange Agreement:

 

In February, 2012, MGD entered into an unsecured promissory note with a certain unrelated party, now a shareholder of the Company for a principal balance of $30,000 at in interest rate of 8% per year and maturity date of August 1, 2014. The note’s maturity date has been extended to December 31, 2020 and the interest rate under the extinguished as part of the extension. The note had an outstanding balance of $25,000 as of June 30, 2018.

 

On March 14, 2013, Snöbar Holdings entered into an unsecured promissory note with a certain unrelated third party, now a shareholder of the Company. The note had a principal balance of $86,821 with an interest rate of 5% and had a maturity date of March 14, 2014. The note’s maturity date has subsequently been extended to February 1, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note is current and the entire balance is owed and outstanding as of June 30, 2018.

 

On July 22, 2013, Snöbar Holdings entered into an unsecured promissory note with a certain unrelated third party. The note had a principal balance of $15,000 with an original interest rate of 5%. On February 22, 2014 Snobar Holdings also entered into another note with the same party for $10,000. Maturity dates have been extended to December 31, 2018, and interest rates has been reduced to 2%, and lender agreed to make all interest retroactive and deferred. The balance of the note was $15,000 and $10,000 as of June 30, 2018.

 

In February 2014, MGD entered into a secured promissory note with a certain unrelated third party for $10,000. The note was secured by interests in tangible and intangible property of MGD. The Company is to make payments of $181 each business day (Monday through Friday) until the loan is paid off. The effective interest rate on the note is 137%. The outstanding balance of the note is $1,000 as of June 30, 2018.

 

On May 19, 2014, Snöbar Holdings entered into a secured convertible promissory note with a principal balance of $500,000. The note was secured by interests in cash, accounts receivable, other receivables, inventory, supplies, other assets of Snöbar Holdings including general intangibles and rights of each liquor license owned by Snöbar Trust. The note has an interest rate of 10% and an original maturity date of December 31, 2015. The Company was to make interest only payments beginning July 1, 2014. The lender determined Snöbar Holdings to be in default and on January 29, 2015, entered into a mutually agreed loan modification. The agreement increased the principal balance of the note as of December 31, 2014 to $527,333 and all interest due and payable was deemed to have been paid and the conversion rights of the note were removed. The modification also removed and deleted, in its entirety, all secured interests in cash, accounts receivable, other receivables, inventory, supplies, and other assets of Snöbar Holdings, including intangibles, and rights of each liquor license owned by Snöbar Trust. The maturity date was December 31, 2015 if Snöbar Holdings is not in default, the maturity date of the note should automatically be extended to December 31, 2016 (“First Extended Maturity Date”). Commencing on January 1, 2016, Snöbar Holdings was to make monthly payments of $15,000 until the First Extended Maturity Date. Assuming Snöbar Holdings was not in default with respect to its obligations as of the First Extended Maturity Date, the note would have automatically been extended to December 31, 2017 (“Second Extended Maturity Date”). Commencing on January 1, 2017, the monthly payments increased to $25,000 for every month until the Second Extended Maturity Date. All accrued but unpaid interest, charges and the remaining principal balance of the note was fully due and payable on the Second Extended Maturity Date. In January of 2016 the company decided to enter into renegotiation period for the repayment terms of the modification dated January 29, 2015. As a result of the renegotiation with the note holder.

  

 13 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

The following description represents unrelated note payable transactions post-merger between Snöbar and the Company:

 

On February 13, 2017, the Company entered a settlement agreement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 restricted shares of the Company’s common stock and $200,000 in future cash payment comprising of $25,000 on June 30, 2017, $25,000 on June 30, 2018, $25,000 on June 30, 2019, and $125,000 on June 30, 2020. As of March 10, 2017, the Company issued to the creditor, 400,000 restricted shares of the Company’s common stock, and also paid the $25,000 for the required June 30, 2017 cash payment. The $25,000 payment due in 2018 was paid to JRSR26 on March 1, 2018. The balance of the note as of December 31, 2017 is $175,000. The current balance as of June 30, 2018 is $150,000.

 

Effective September 30, 2017, the Company entered into amended promissory notes with a certain unrelated third party in an amount of $272,500, one for $172,500, and four others for $50,000 each. All of the notes have an interest rate of 8% and had a maturity date of August 13, 2017, but have been extended to November 15, 2017 for a fee of $15,000. The notes had a principal outstanding balance of $348,601 as of June 30, 2018, including the $15,000 extension fee.

 

In late July, August, and September of 2017, the Company entered into a financing arrangements with Power Up Lending pursuant to which the Company borrowed a total principal of $129,000 secured by shares of the Company’s common stock. The notes were subect to a 6 month hold before any stock was issued. The current balance is $37,919.

 

On July 12, 2017, the issued a Convertible Promissory Note with a certain unrelated party JSJ for total gross proceeds of $75,000. The note was subject to a 6 month hold before any stock is converted. The note is convertible at any time after the issuance date, bears interest at 12% and matures on April 12, 2018. The current principal amount is $55,000. The company entered into an agreement to pay a principal amount of $40,000 plus a fee of $20,000 and issue one and only one common stock certificate of 631,000 shares. Subsequently JSJ voided the agreement and has filed a complaint.

On January 11, 2018, the Company issued a Convertible Redeemable Note with a certain unrelated party. for total gross proceeds of $30,000. The note bears an interest of 10% and matures on January 3, 2019. The current principal balance is $30,000.

 

On February 7, 2018, the Company issued a Convertible Promissory Note with a certain unrelated party. for total gross proceeds of $105,000. The note bears an interest of 2%. The Company received the first tranche of the note and has a current principal balance of $33,000 as of June 30, 2018.

 

Over the past year Classic Beverage has periodically issued loans to the Company. The Company has agreed to pay interest 10% per year and has agreed on penalty fees if late on payments. The note is due on demand. The current balance is $82,673.

 

On 2018, the company entered into a promissory note to pay off aged debt on the books of PACV. The amount was $56,066 and the total amount that has converted into stock during the first quarter is $37,184. The current principal balance as of June 30, 2018 is $18,882. That remaining balance converted into common stock in April of 2018.

 

On May 1, 2018, Pacific Ventures Group entered into a secured promissory note with TCA Global Fund for $1,750,000. The note was secured by interests in tangible and intangible property of Pacific Ventures Group. The Company is to make interest only payments of $24,462 for 2 month; $10,000 for the next 4 months; subsequent payments of $45,500 until the loan is paid off. The effective interest rate on the note is 16%. The outstanding balance of the note is $1,750,000 as of June 30, 2018.

 

As of June 30, 2018, the Company had total short-term notes payable of $840,536 and long-term notes payable of $1,832,279.

  

 14 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

9. STOCKHOLDERS’ EQUITY

 

Share Exchange

 

On August 14, 2015, Snöbar Holdings entered into the Share Exchange Agreement with the Company and Snöbar Holdings’ shareholders (the “Snöbar Shareholders”) who held of record (i) at least 99% and up to 100% of the total issued and outstanding shares of Class A Common Stock and (ii) 100% of the total issued and outstanding shares of Class B Common Stock, of Snöbar Holding. In accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B Common Stock from Snöbar Shareholders, with Snöbar Holdings becoming a wholly owned subsidiary of the Company, in exchange for the issuance to the Snöbar Shareholders of 22,500,000 shares of restricted common stock of the Company and the issuance of 2,500,000 restricted shares of the Company’s common stock to certain other persons (as set forth below).

 

The 2,500,000 restricted shares of the Company’s common stock were issued for the following: 600,000 shares were issued for services for a total of $326,900 of non-cash expenses; a former officer of the Company received 1,000,000 shares in exchange for his 1,000,000 shares of Series E Preferred Stock; and 900,000 shares were issued to extinguish $21,675 of debt due to a former officer and shareholder of the Company. 

 

Common Stock and Preferred Stock

 

The Company is authorized to issue up to 10,000,000 shares of its preferred stock, $0.001 par value per share. Effective as of October 2016, the Company designated 1,000,000 shares of preferred stock as Series E Preferred Stock (the “Series E Preferred Stock”). Under the rights, preferences and privileges of the Series E Preferred Stock, for every share of Series E Preferred Stock held, the holder thereof has the voting rights equal to 10 shares of common stock. The Series E Preferred Stock is not convertible into any class of stock of the Company and has no preferences to dividends or liquidation rights. As of June 30, 2018 and December 31, 2017, there were 1,000,000 shares of Series E Preferred Stock issued and outstanding.

 

From April 1, 2018 through June 30, 2018, the Company issued 46,370,509.00 shares of its common stock to various investors for services or debt conversion.

 

The Company is authorized to issue up to 100,000,000 shares of its common stock, $0.001 par value per share. Holders of common stock hold one vote per share. As of June 30, 2018, there were 82,626,293 shares of common stock issued and outstanding, respectively.

  

 15 

 

 

Pacific Ventures Group, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(Unaudited)

 

10. COMMITMENTS, CONTINGENCIES AND UNCERTAINTIES

 

Operating Lease

 

The Company is currently obligated under two operating leases for office spaces and associated building expenses.  Both leases are on a month-to-month basis.

 

San Diego Farmers Outlet has a 5 years lease at $6,000 per month with two (5) year options to extend the lease.

  

11. SUBSEQUENT EVENTS

 

ASC 855-16-50-4 establishes accounting and disclosure requirements for subsequent events. ASC 855 details the period after the balance sheet date during which we should evaluate events or transactions that occur for potential recognition or disclosure in the financial statements, the circumstances under which we should recognize events or transactions occurring after the balance sheet date in its financial statements and the required disclosures for such events.

 

The Company has evaluated all subsequent events through the date these consolidated financial statements were issued, and determined the following are material to disclose.

 

On July 19, 2018 (the “Effective Date”), Pacific Ventures Group, Inc., a Delaware corporation (the “Corporation”), entered into a Series F Preferred Stock Recipient Agreement (“Preferred Stock Recipient Agreement”) with Ms. Shannon Masjedi (the “Series F Holder“, an officer, director and controlling shareholder of the Corporation), pursuant to which the Series F Holder was issued fifty thousand (50,000) shares out of fifty thousand (50,000) authorized shares of Series F Convertible Preferred Stock, par value $.001 per share (the “Series F Preferred Stock”). The Series F Holder was issued one (1) share of Series F Preferred Stock as consideration for such Series F Holder’s agreement to forgive $1.00 of the Corporation’s indebtedness to the Series F Holder. The total amount of Corporation indebtedness to the Series F Holder and forgiven by the Series F Holder amounted to $50,000, pursuant to the terms of the Preferred Stock Recipient Agreement, which agreement is incorporated by reference herein as Exhibit 10.1.

 

The Series F Preferred Stock has the rights, privileges, preferences and restrictions set forth in the Certificate of Designation (the “Certificate of Designation”) filed by the Corporation with the Secretary of State of the State of Delaware (“Delaware Secretary of State”) on July 25, 2018, as more fully described in Item 5.03 below. Each issued and outstanding share Series F Preferred Stock shall be entitled to the number of votes equal to the result of: (i) the number of shares of Common Stock of the Corporation issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series F Preferred Stock issued and outstanding at the time of such vote, at each meeting of shareholders of the Corporation with respect to any and all matters presented to the shareholders of the Corporation for their action or consideration, including the election of directors. Holders of Series F Preferred Stock shall vote together with the holders of Common Stock as a single class.

 

Each outstanding share of Series F Preferred Stock shall be convertible into the number of shares of the Corporation’s common stock (“Common Stock”) determined by dividing the Stated Value ($1.00 per share) by the Conversion Price as defined below, at the option of the Holder in whole or in part, at any time commencing no earlier than six (6) months after the Issuance Date; provided that any conversion under this section must be made during the ten (10) day period immediately following the date on which the Corporation files with the Securities and Exchange Commission any periodic report on form 10-Q, 10-K or the equivalent form; provided further that, any conversion under this Section IV(a) shall be for a minimum Stated Value of $500.00 of Series F Preferred Stock. The Conversion Price for each share of Series F Preferred Stock in effect on any Conversion Date shall be (a) eighty five percent (85%) of the average closing bid price of the Common Stock over the twenty (20) trading days immediately preceding the date of conversion, (b) but no less than Par Value of the Common Stock. For purposes of determining the closing bid price on any day, reference shall be to the closing bid price for a share of Common Stock on such date on the NASD OTC Bulletin Board, as reported on Bloomberg, L.P. (or similar organization or agency succeeding to its functions of reporting prices).

 

The foregoing description of the Preferred Stock Recipient Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Form of a Preferred Stock Recipient Agreement.

  

 16 

 

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 
Forward-Looking Statements

 

This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements. The Securities and Exchange Commission (the “SEC”) encourages companies to disclose forward-looking information so that investors can better understand a company’s future prospects and make informed investment decisions. This Quarterly Report and other written and oral statements that we make from time to time contain such forward-looking statements that set out anticipated results based on management’s plans and assumptions regarding future events or performance. We have tried, wherever possible, to identify such statements by using words such as “anticipate,”“estimate,”“expect,”“project,”“intend,”“plan,”“believe,”“will” and similar expressions in connection with any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies, such as legal proceedings, and financial results.

 

We caution that the factors described herein and other factors could cause our actual results of operations and financial condition to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

 

General

 

The Company was incorporated under the laws of the State of Delaware on October 3, 1986, under the name “AOA Corporation”. On October 22, 2012, the Company changed its name to “Pacific Ventures Group, Inc.”. Prior to the Share Exchange described below, the Company operated as an insurance holding company and through its subsidiaries, marketed and underwrote specialized property and casualty coverage in the general aviation insurance marketplace. However, in 1997, after selling several of its divisions, the Company’s remaining insurance operations were placed into receivership and the Company ceased operating its insurance business.

 

The current structure of the Company resulted from a share exchange with Snöbar Holdings, Inc. (“Snöbar”), which was treated as a reverse merger for accounting purposes. On August 14, 2015, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Snöbar Holdings, Inc. (“Snöbar Holdings”), pursuant to which the Company acquired 100% of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B common stock in exchange for 22,500,000 restricted shares of the Company’s common stock, as well as issuing 2,500,000 restricted shares of the Company’s common stock to certain other persons (the “Share Exchange”). As the result of the Share Exchange, Snöbar Holdings. became the Company’s wholly owned operating subsidiary and the business of Snöbar Holdings became the Company’s sole business operations. In addition, Snöbar Holdings’ majority owned subsidiary, MAS Global Distributors, Inc., a California corporation (“MGD”), became an indirect subsidiary of the Company.

 

Since the Share Exchange represented a change in control of the Company and a change in its business operations, the Company’s business operations changed to that of Snöbar Holdings and the discussions of the Company’s business operations contained in this Quarterly Report are solely that of Snöbar Holdings and its affiliates and subsidiaries comprising of the Snöbar Trust, IPIC and MGD.

 

Snöbar Holdings was formed under the laws of the State of Delaware on January 7, 2013. Snöbar Holdings is the trustor and sole beneficiary of Snöbar Trust, a California trust (the “Trust”), which was formed in June 1, 2013. The current trustee that holds legal title to the Trust is Azita DavidiyanThe Trust owns 100% of the shares of International Production Impex Corporation, a California corporation (“IPIC”), which was formed on August 2, 2001. IPIC is in the business of selling alcohol-infused ice cream and ice-pops, and holds all of the rights to the liquor licenses to sell such products and trade names “SnöBar”. Accordingly, the Trust holds all ownership interest of IPIC and its liquor licenses, permitting IPIC to sell its product to distributors, with all income, expense, gains and losses rolling up to the Trust, of which Snöbar Holdings is the sole beneficiary. Snöbar Holdings also owns 99.9% of the shares of MAS Global Distributors, Inc., a California corporation (“MGD”). MGD is in the business of selling and leasing freezers and providing marketing services. As a result of the foregoing structure, Snöbar Holdings is the primary beneficiary of all assets, liabilities and any income received from the business of the Trust and IPIC through the Trust and is the parent company of MGD.

 

The Trust and IPIC are considered variable interest entities (“VIEs”) and Snöbar Holdings is identified as the primary beneficiary of the Trust and IPIC. Under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Snöbar Holdings performs ongoing reassessments of whether it is the primary beneficiary of a VIE. As the assessment of Snöbar Holdings’ management is that Snöbar Holdings has the power to direct the activities of a VIE that most significantly impact the VIE’s activities (it is responsible for establishing and operating IPIC), and the obligation to absorb losses of the VIE that could potentially be significant to the VIE and the right to receive benefits from the VIE that could potentially be significant to the VIE’s economic performance, it was therefore concluded by management that Snöbar Holdings is the primary beneficiary of the Trust and IPIC. As such, the Trust and IPIC were consolidated in the financial statements of Snöbar Holdings since the inception of the Trust, in the case of the Trust, and since the inception of Snöbar Holdings, in the case of IPIC.

  

 17 

 

 

The Trust and IPIC are considered variable interest entities (“VIEs”) and Snöbar Holdings is identified as the primary beneficiary of the Trust and IPIC. Under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Snöbar Holdings performs ongoing reassessments of whether it is the primary beneficiary of a VIE. As the assessment of Snöbar Holdings’ management is that Snöbar Holdings has the power to direct the activities of a VIE that most significantly impact the VIE’s activities (it is responsible for establishing and operating IPIC), and the obligation to absorb losses of the VIE that could potentially be significant to the VIE and the right to receive benefits from the VIE that could potentially be significant to the VIE’s economic performance, it was therefore concluded by management that Snöbar Holdings is the primary beneficiary of the Trust and IPIC. As such, the Trust and IPIC were consolidated in the financial statements of Snöbar Holdings since the inception of the Trust, in the case of the Trust, and since the inception of Snöbar Holdings, in the case of IPIC.

 

Description of the Business Operations of Snöbar Holdings

 

Snöbar Holdings is the trustor and sole beneficiary of the Trust. The Trust owns 100% of the shares of IPIC. IPIC is the owner of liquor licenses and the trade name “SnöBar” and is in the business of selling and distributing alcohol-infused ice creams and ice-pops through its distributors. Snöbar Holdings also owns 99.9% of the shares of MGD. MGD is in the business of selling and leasing freezers and providing marketing services. As a matter of law, IPIC may not be engaged in any business similar to MGD.As a result of the foregoing, Snöbar Holdings is the beneficiary of all assets, liabilities and any income received from the business of IPIC through the Trust and is the parent company of MGD.

 

IPIC is a food, beverage and alcohol distribution company that is in the business of selling alcohol-infused ice cream and ice-pops, and holds all of the rights to the liquor licenses to sell such products and trade names “SnöBar”. IPIC is initially marketing two products: SnöBar alcohol infused ice pops, and SnöBar alcohol infused ice cream and sorbet. SnöBar ice pops are original frozen alcohol beverage bars, similar to popsicles on a stick, but made with premium liquor such as premium tequila and vodka and are currently manufactured in three flavors, Margarita, Cosmopolitan and Mojito. The alcohol freezing technology used to produce these beverage bars can be applied to almost any alcohol type and mixture, presenting significant market potential and an almost unlimited variety of flavors and employment of premium brands. Each ice pop is the equivalent of a full cocktail. 

 

SnöBar ice cream is an additional innovative product that the Company is marketing using proprietary formulas and technology. These products are premium ice cream and sorbets that are distilled spirit cocktails containing up to 15% quality liqueurs and liquors. Currently, there are four flavors available: Brandy Alexander; Brandy Alexander with chocolate chips; Grasshopper; and Pink Squirrel. There are also numerous different liquor ice cream flavors in development in classic ice cream drink styles such as Coffee Liqueur Ice Cream, Piña Colada Sorbet, Sherry Ice Cream, and Strawberry Margarita Sorbet. The product contains ultra premium dairy and the highest quality of ingredients.

 

What makes the SnöBar products unique in the Company’s view is the proprietary formulation and method of manufacturing. SnöBar ice pops and SnöBar ice cream use a system to stabilize the alcohol molecule, whereby the alcohol content, quality and flavor is not degraded during the production process. The technology is also applicable to other food and beverage products such as yogurt, water ice creations and alcohol based goods. IPIC has begun the process of obtaining trade secret and other intellectual property protections as to these unique technologies. The SnöBar brand is fully trademarked within the USA and is currently seeking worldwide trademark rights.

 

SnöBar brand products have been through extensive consumer testing across all age groups and sexes over 21 years of age. According to the results of the consumer testing, there is a large untapped market potential for frozen alcohol desserts. Market research shows that there are very few alcohol infused ice-creams and ice pops available in the U.S. markets and the few that are out there are of lower quality ingredients and are not mass produced. IPIC holds several Federal and State granted liquor licenses. These licenses allow the SnöBar product line to be introduced and distributed in 95% of the United States. IPIC desires to be the first to mass market the SnöBar alcohol-infused products in this untapped and sizeable market segment and capitalize on these two exclusive products. IPIC only uses the finest of ingredients and dairy to produce SnöBar products and strives to achieve the highest quality of texture and taste for all of the SnöBar products. IPIC believes that the SnöBar brand has the potential to scale on a national and international level with worldwide distribution capabilities.

 

As of June 30, 2018, Snöbar products are currently being sold in the east coast by our distributor. The Company’s management has been actively constructing an online platform that will allow Snöbar distribution on a national level. Please see “Plan of Operations” below for further detail.

  

 18 

 

 

Acquisition of San Diego Farmers Outlet

 

On May 1, 2018, Royalty Foods Partners, LLC – a Florida Limited Liability Corporation and a subsidiary of Pacific Ventures Group, Inc. – completed an asset acquisition of San Diego Farmers Outlet, Inc., a California Corporation. San Diego Farmers Outlet was started in over thirty Five years ago to provide primarily restaurants customers in southern California’s three largest counties with quality food and produce, and does business under the name of Farmers Outlet and San Diego Farmers Outlet.

 

The purchase price of SDFO was one million and fifty thousand $1,050,00 and with an additional $70,000 toward current inventory. This merger allows the Company to gain entry into the healthy foods distribution in Southern California and provide healthy-foods and local produce to restaurants in the Southern California market.

 

The merger was accounted for under the purchase method of accounting and was financed by a line of credit. In a business combination, the purchase price is allocated to assets acquired and liabilities assumed based on their fair values, with any excess of purchase price over fair value recognized as goodwill. In addition to recognizing the assets and liabilities on the acquired company’s balance sheet, the Company reviews supply contracts, leases, financial instruments, employment agreements and other significant agreements to identify potential assets or liabilities that require recognition in connection with the application of acquisition accounting under Accounting Standards Codification (“ASC”) 805. Intangible assets are recognized apart from goodwill when the asset arises from contractual or other legal rights, or are separable from the acquired entity such that they may be sold, transferred, licensed, rented or exchanged either on a standalone basis or in combination with a related contract, asset or liability.

 

Unlike some larger distributors who make their customers receive products on a day and time convenient to the distributor, Farmers Outlet deliver daily and pays attention to what the customer wants. Farmers Outlet added products to meet the needs of restaurants, Hotels, Clubs and bars, Resorts, food trucks and caterers. Free delivery was added to demonstrate that Farmers Outlet had customers interest first in mind.

 

Farmers Outlet provides a wide array of products to serve customers of all types. However, they do have a niche in providing fresh produce and food products. Farmers Outlet provides specialty produce that the larger distributors do not carry on a daily basis.

 

Farmers Outlet can cover a large market area servicing Los Angeles, Orange County and San Diego, which we have estimated to be a $2.5 billion addressable market. Farmers Outlet currently services the San Diego territory and has over 125 active customers, and no customer represents more than five percent of Farmers Outlet gross revenues.

 

The company services customers in high, middle and low-income communities with a specialty in providing food and fresh produce to customers serving small to medium size restaurants of all nationalities, including Chinese, Korean, Mexican, American, Japanese and Thai.

 

In order to establish and maintain a competitive advantage, Farmers Outlet developed a proprietary and sophisticated dynamic inventory and accounting system that integrates with account management and accounting software.

 

Farmers Outlet plans to continue growing its business by:

 

Increasing its share of business in their market niche by soliciting present customers and adding additional products
Solicit new customers in the Los Angeles, Orange, and San Diego niche market and expanding territory for deliveries
Add new product lines that appeal to current and new customers.
Add more trucks to their current fleet
Promote its retail operation by Marketing and advertising all their services and unique products to the general public.
Create a company website and promote the website
Create an online portal to receive wholesale orders from wholesale accounts
Implementing policies and procedures throughout its operations and departments

  

 19 

 

 

Plan of Operations

 

As of the date of this Quarterly Report, Snöbar products are currently being sold in the east coast of United States by the Company’s distributor. The Company’s management has been actively constructing an online platform that will allow Snöbar distribution on a national level.

 

The company plans on increasing sales in San Diego Farmers Outlet (SDFO) on the wholesale side of the business. We plan on expanding our current delivery territory from 25 miles to a 50 mile radius. SDFO is also in the process of obtaining 2 new delivery trucks to add to the current fleet of trucks. The Company will be marketing to all restaurants in the area and let them know that SDFO can deliver the finest produce in market. The Company also plan to “wrap” its trucks and have mobile advertising all around the San Diego Area.

 

SDFO will be getting new signage around the retail market and The Company is in the process of adding additional landscaping to enhance the appearance of the market.

 

Management believes that the Company’s general and administrative costs should be cash flow positive and be able to sustain itself for the next six months.

 

The Company will continue to evaluate its projected expenditures relative to its available cash and to seek additional means of financing in order to satisfy the Company’s working capital and other cash requirements.

  

 20 

 

 

Results of Operations

 

Six Months ended June 30, 2018, as Compared to Six Months Ended June 30, 2017

 

Revenues ― The Company accrued $690,135 in Sales, net of discounts for the six months ended June 30, 2018 as compared to $0 for the same period of June 30, 2017.

 

Operating Expenses Total operating expenses for the six months ended June 30, 2018 were $691,933 as compared to $249,466 in the same period in, 2017, due to increased operating activities during the period ended June 30, 2018, and an increase in general and administrative expenses, marketing and advertising and professional fees.

 

Selling, General and Administrative Expenses ― Selling, general and administrative expenses for the six months ended June 30, 2018 increased to $370,071 from $205,725 in the same period in 2017, which was due to an increase in marketing and business development expenses and professional fees.

 

Marketing and Advertising Expenses – Marketing and advertising expenses for the six months ended June 30, 2018 was $54,895 which includes marketing and business development expenses.

   

Professional fees – Professional fees expenses for the six months ended June 30, 2018 was $265,369, which includes accounting, legal fees and consulting services.

 

Depreciation Expense ― Depreciation expense for the six months ended June 30, 2018 and 2017 was $5,094 and $1,997, respectively.

 

Salaries and Wages ― Salaries and wages expense for the six months ended June 30, 2018 was $0, as compared to $6,437 for the prior same period.  The decrease was due to cost cutting measures implemented previously that froze compensation accrual for senior management. This action was primarily responsible for the reduction compensation of staff during the period under review.

  

Net Loss ― Net loss for six months ended June 30, 2018 was $738,584, as compared to net loss of $244,014 for the six months ended June 30, 2017, which was primarily due to increase in operating expenses, marketing and business development expenses and professional fees.

 

Financial Condition, Liquidity and Capital Resources

 

As of June 30, 2018, the Company had a working capital deficit of $1,352,343, consisting of $146,583 in cash and cash equivalents, accounts receivable of 220,263, accounts payable $477,612, accrued expenses of $385,801, $840,536 in the current portion of notes payable, and $88,896 in the current portion of leases payable.

 

For the six months period ended June 30, 2018, the Company used $782,622 of cash in operating activities, obtained cash of $2,032,575 from financing activities, resulting in an increase in total cash of $146,514 and a balance of $ 146,583 for the period.

 

Total current assets as of June 30, 2018 were $440,501, while current liabilities for the six months period ended June 30, 2018 were $1,792,844. The Company has incurred an operating loss of $483,471 for the six months period ended June 30, 2018, largely due the increase in operating expenses and increase in marketing and business development expenses and professional fees. During the six months period ended June 30, 2018, the Company had an accumulated deficit of $6,713,491. These factors raise substantial doubt about our ability to continue as a going concern.

  

 21 

 

 

Changes in the composition of our Notes Payable and Notes Payable-Related Parties are presented in the table below:

 

   As of June 30, 2018   As of December 31, 2017 
   $ Current   $ Long-Term   $ Current   $ Long Term 
Notes Payable   557,193    1,886,821    456,914    311,821 
Notes Payable - Related   283,343    42,000    353,759    42,000 
   $895,538   $1,928,821   $810,673   $353,821 

 

Total Notes Payable for related and unrelated parties increased by $1,659,865 from the fiscal year ended December 31, 2017 from $1,164,494 to $2,824,359 in six months period ended June 30, 2018.

 

As of June 30, 2018, total stockholders’ equity deficit increased to $2,099,800 from $1,632,080 as of December 31, 2017. Accumulated deficit increased from $5,970,024 in the fiscal year ended December 31, 2017 to $ 6,713,491 for the six months period ended June 30, 2018.

 

As of June 30, 2018, the Company had $146,583 in cash to fund our operations. The Company does not believe our current cash balances will be sufficient to allow us to fund our operating plan for the next twelve months. Our ability to continue as a going concern is dependent on us obtaining adequate capital to fund operating losses until we become profitable. If we are unable to obtain adequate capital, we could be forced to cease operations or substantially curtail its drug development activities. These conditions raise substantial doubt as to our ability to continue as a going concern. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities should we be unable to continue as a going concern.

 

Our principal sources of liquidity to date have been cash generated by issuing new shares of the Company’s common stock and cash generated from loans to us. In order to be able to achieve our strategic goals, we need to further expand our business and financing activities. Expanding market awareness of the SnöBar products and our international distribution networks, together with further improvement of the SnöBar products will require future capital and liquidity expansion. Since our inception in January 2013, our shareholders have contributed a significant amount of capital making it possible for us to develop and market the SnöBar products. To continue to develop our product offerings and generate sales, significant capital has been and will continue to be required. Management intends to fund future operations through additional private or public equity and/or debt offerings. We continue to engage in preliminary discussions with potential investors and broker-dealers but no terms have been agreed upon. There can be no assurances, however, that additional funding will be available on terms acceptable to us, or at all. Any equity financing may be dilutive to existing shareholders. We do not currently have any contractual restrictions on our ability to incur debt and, accordingly we could incur significant amounts of indebtedness to finance operations. Any such indebtedness could contain covenants which would restrict our operations.

   

Off-Balance Sheet Arrangements

 

There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

 

Critical Accounting Policies and Estimates

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes.  The SEC has defined a company’s critical accounting policies as the ones that are most important to the portrayal of the company’s financial condition and results of operations, and which require the company to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain.  

 

Based on this definition, we have identified the critical accounting policies and judgments addressed which are described in Note 2 to our condensed consolidated financial statements included elsewhere in this Quarterly Report. Although we believe that our estimates, assumptions and judgments are reasonable, they are based upon information presently available. Actual results may differ significantly from these estimates under different assumptions, judgments or conditions.

  

 22 

 

 

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

 

Not required for smaller reporting companies.

 

Item 4. Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

As required by Securities Exchange Act of 1934, as amended (the “Exchange Act”), Rule 13a-15(b), we have carried out an evaluation(the “Evaluation”), under the supervision and with the participation of our management, including our Chief Executive Officer and Interim Chief Financial Officer, of the effectiveness of the design and operation of our management, and the design and operation of our disclosure controls and procedures as of June 30, 2018.Based upon an evaluation of the effectiveness of disclosure controls and procedures, our Chief Executive Officer and Interim Chief Financial Officer has concluded that as of the end of the period covered by this Quarterly Report, our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) under the Exchange Act) were not effective because of the material weaknesses described below, in order to provide reasonable assurance that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the SEC and is accumulated and communicated to management, including the Chief Executive Officer and Interim Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure (see below for further discussion).We had neither the resources, nor the personnel, to provide an adequate control environment.

 

Due to our limited resources, the following material weaknesses in our internal control over financial reporting continued to exist at June 30, 2018:

  

  we do not have written documentation of our internal control policies and procedures. Written documentation of key internal controls over financial reporting is a requirement of Section 404 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”);
     
  we do not have sufficient segregation of duties within accounting functions, which is a basic internal control. Due to our limited size and early stage nature of operations, segregation of all conflicting duties may not always be possible and may not be economically feasible; however, to the extent possible, the initiation of transactions, the custody of assets and the recording of transactions should be performed by separate individuals;
     
  we do not have an independent audit committee of our Board of Directors;
     
  insufficient monitoring and review controls over the financial reporting closing process, including the lack of individuals with current knowledge of GAAP that led to the restatement of our previously issued financial statements; and
     
  we continue to outsource the functions of controller on an interim basis to assist us in implementing the necessary financial controls over the financial reporting and the utilization of internal management and staff to effectuate these controls.

  

We believe that these material weaknesses primarily related, in part, to our lack of sufficient staff with appropriate training in GAAP and SEC rules and regulations with respect to financial reporting functions, and the lack of robust accounting systems, as well as the lack of sufficient resources to hire such staff and implement these accounting systems.

 

If and when our financial resources allow, we plan to take a number of actions to correct these material weaknesses including, but not limited to, establishing an audit committee of our Board of Directors comprised of three independent directors, hiring a full-time Chief Financial Officer, adding experienced accounting and financial personnel and retaining third-party consultants to review our internal controls and recommend improvements.

 

It should be noted that any system of controls, however well designed and operated, can provide only reasonable and not absolute assurance that the objectives of the system are met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of certain events. Because of these and other inherent limitations of control systems, there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.

 

Changes in Internal Control Over Financial Reporting

 

There were no material changes in our internal control over financial reporting (as defined in Rule 13a- 15(f) under the Exchange Act) that occurred as of June 30, 2018, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

CEO and CFO Certifications

 

Exhibits 31.1 and 31.2 to this Quarterly Report are the Certifications of the Chief Executive Officer and the Interim Chief Financial Officer, respectively. These Certifications are required in accordance with Section 302 of the Sarbanes-Oxley Act (the “Section 302 Certifications”). This Item 4 of this Quarterly Report, which you are currently reading, is the information concerning the Evaluation referred to above and in the Section 302 Certifications and this information should be read in conjunction with the Section 302 Certifications for a more complete understanding of the topics presented.

   

 23 

 

 

PART II - OTHER INFORMATION

 

ITEM 1. Legal Proceedings

 

There are no legal proceedings that have occurred within the past ten years concerning our directors or officers which involved a criminal conviction, a criminal proceeding, an administrative or civil proceeding limiting one’s participation in the securities or banking industries, or a finding of securities or commodities law violations. Except for Mrs. Masjedi, who filed for Chapter 7 personal bankruptcy in 2010, which was discharged in August 2011, and Mr. Shenkman, who filed for Chapter 11 personal bankruptcy in 2010, which was dismissed but not discharged in May 2012, none of our directors or officers have filed for or have been affiliated with any company that has filed for bankruptcy within the last ten years.

 

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results. We are not aware of any proceedings to which any of our officers or directors, or any associate of any such officer or director, is a party adverse to us or any of our or has a material interest adverse to us or any of our subsidiaries.

 

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

Recent Sales of Unregistered Securities

 

During the six months ended June 30, 2018, the Company issued 46,370,509 shares of its common stock, of which shares were issued for services valued at $28,700, and shares were issued as repayment of debt in the amount of $87,213.

 

The Company believes the offers, sales and issuances of the securities described above were exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) of the Securities Act and/or Rule 506 promulgated under Regulation D under the Securities Act as transactions by an issuer not involving a public offering. The purchasers of securities in each of these transactions acquired the securities for investment only and not with a view to or for sale in connection with any distribution thereof. Each of the purchasers of securities in these transactions was an accredited investor within the meaning of Rule 501 of Regulation D under the Securities Act and had adequate access, through employment, business or other relationships, to information about us. The offer, sale and issuance of these securities were made without any general solicitation or advertising.

 

Use of Proceeds of Registered Securities

 

Not applicable.

 

Purchases of Equity Securities by Us and Affiliated Purchasers

 

During the six months ended June 30, 2018, the Company has not purchased any equity securities nor have any officers or directors of the Company.

 

ITEM 3. Defaults Upon Senior Securities

 

The Company is not aware of any defaults upon its senior securities.

 

ITEM 4. Mine Safety Disclosures

 

Not applicable.

 

ITEM 5. Other Information.

 

None. 

  

 24 

 

 

ITEM 6. Exhibits

  

Exhibit    
Number   Description
     
2.1     Share Exchange Agreement, dated August 14, 2015, by and among the Company, Snöbar Holdings, Inc., and certain shareholders of Snöbar Holdings, Inc. (Incorporated by reference to Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed with the SEC on August 14, 2015).
     
2.2     Amendment No. 1 to Share Exchange Agreement, dated August 21, 2015, by and among the Company, Snöbar Holdings, Inc., and certain shareholders of Snöbar Holdings, Inc. (Incorporated by reference to Exhibit 2.2 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
3.1    Fourth Amended and Restated Certificate of Incorporation of the Company (Incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K, as filed with the SEC on November 16, 2017).
     
3.2    By-laws of the Company (Incorporated by reference to Exhibit 3.2 to the Company's Registration Statement on Form S-1/A, as filed with the SEC on June 14, 2017).
     
3.3    Amendment No. 1 to the Bylaws of the Company (Incorporated by reference to Exhibit 3.3 to the Company's Registration Statement on Form S-1/A, as filed with the SEC on June 14, 2017).
     
10.1     Co-Packaging Letter Agreement dated April 24, 2013, by and between International Production Impex Corporation and Brothers International Desserts, Inc. (Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.2     Distribution Agreement, dated March 16, 2015, between International Production Impex Corporation and Spectrum Entertainment & Events LLC (Incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.3    Distribution Agreement, dated June 5, 2015, between International Production Impex Corporation and Eddie Holman (Incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.4     Exclusive Distribution Agreement, dated February 3, 2015, between International Production Impex Corporation and Yes Consolidated, LLC (Incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.5   Distribution Agreement, dated May 1, 2015, between International Production Impex Corporation and Dejako Trading Company (Incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.6   Form of Lock-Up/Leak-Out Agreement between the Company and certain Snöbar Shareholders party thereto (Incorporated by reference to Exhibit 10.6 to the Company's Current Report on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.7   Anti-Dilution Agreement, dated September 25, 2015, among the Company and Brett Bertolami and Danzig Ltd. (Incorporated by reference to Exhibit 10.7 to the Company's Current Report Form on Form 8-K, as filed with the SEC on September 25, 2015).
     
10.8     Piggyback Registration Rights Agreement, dated September 25, 2015, by and among the Company, Snöbar Shareholders and other persons thereto (Incorporated by reference to Exhibit 10.8 to the Company's Annual Report on Form 10-K, as filed with the SEC on May 23, 2016).
     
10.9    Trust Agreement, dated June 1, 2013 by and between Snobar Holding, Inc. and Azizollah Masjedi(Incorporated by reference to Exhibit 10.9 to the Company's Annual Report on Form 10-K, Amendment No. 1, as filed with the SEC on October 16, 2017).
     
10.10   Form of Promissory Note by and between the Company and certain related parties.  (Incorporated by reference to Exhibit 10.10 to the Company's Quarterly Report on Form 10-Q, Exhibit 10.1., as filed with the SEC on May 21, 2018).

  

 25 

 

 

Exhibit    
Number   Description
     
10.11   Pacific Ventures Group, Inc. 2017 Equity Incentive Plan (Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, as filed with the SEC on November 8, 2017).
     
10.12   Form of Pacific Ventures Group, Inc. Incentive Stock Option Agreement (Incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K, as filed with the SEC on November 8, 2017).
     
10.13   Form of Pacific Ventures Group, Inc. Nonqualified Stock Option Agreement (Incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K, as filed with the SEC on November 8, 2017). 
     
31.1*   Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act.
     
31.2*   Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act.
     

32.1**

  Certification of Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
     
101.INS*   XBRL Instance Document
101.SCH*   XBRL Taxonomy Extension Schema Document
101.CAL*   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*   XBRL Taxonomy Extension Label Linkbase Document
101.PRE*   XBRL Taxonomy Extension Presentation Linkbase Document

 

  * Filed herewith.

 

  ** Furnished herewith.

   

 26 

 

 

SIGNATURES

  

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  PACIFIC VENTURES GROUP, INC.
     
Date: August 20, 2018 By: /s/ Shannon Masjedi
    Shannon Masjedi
    President, Chief Executive Officer and Interim Chief Financial Officer (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

  

 27 

 

EX-31.1 2 f10q0618ex31-1_pacificven.htm CERTIFICATION

Exhibit 31.1

  

CERTIFICATION OF CEO PURSUANT TO RULE 13a-14(a) OR 15d-14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Shannon Masjedi, certify that:

 

1.    I have reviewed this Quarterly Report on Form 10-Q of Pacific Ventures Group, Inc.;

 

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)  Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)  Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant ’s most recent fiscal quarter (the registrant ’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant ’s internal control over financial reporting; and

 

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)  All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant ’s ability to record, process, summarize and report financial information; and

 

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

/s/ Shannon Masjedi  
Shannon Masjedi  
President and Chief Executive Officer  

 

Date:  August 20, 2018

EX-31.2 3 f10q0618ex31-2_pacificven.htm CERTIFICATION

Exhibit 31.2

 

CERTIFICATION OF CFO PURSUANT TO RULE 13a-14(a) OR 15d-14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Shannon Masjedi, certify that:

 

1.    I have reviewed this Quarterly Report on Form 10-Q of Pacific Ventures Group, Inc.;

 

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)  Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)  Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant ’s most recent fiscal quarter (the registrant ’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant ’s internal control over financial reporting; and

 

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant ’s ability to record, process, summarize and report financial information; and

 

(b)  Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

/s/ Shannon Masjedi  
Shannon Masjedi  
Interim Chief Financial Officer  

 

Date:  August 20, 2018

EX-32.1 4 f10q0618ex32-1_pacificven.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATION OF CEO AND CFO PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Pacific Ventures Group, Inc. (the “Company”) on Form 10-Q for the quarter ended June 30, 2018, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Shannon Masjedi, the Chief Executive Officer and Interim Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

 

(1)    the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2)   the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Shannon Masjedi  
Shannon Masjedi  

President, Chief Executive Officer and

Interim Chief Financial Officer

 

 

Date:  August 20, 2018

 

This Certification accompanies this Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. 

 

EX-101.INS 5 pacv-20180630.xml XBRL INSTANCE FILE 0000882800 2017-01-01 2017-06-30 0000882800 2017-12-31 0000882800 pacv:SnobarHoldingsMember pacv:ShareExchangeAgreementMember 2015-08-14 0000882800 pacv:SnobarHoldingsMember pacv:ShareExchangeAgreementMember 2015-08-01 2015-08-14 0000882800 pacv:InternationalProductionImpexCorporationMember 2001-08-02 0000882800 2018-01-01 2018-06-30 0000882800 2018-06-30 0000882800 pacv:MASGlobalDistributorsIncMember 2001-08-02 0000882800 pacv:SMasjediMember 2018-01-01 2018-06-30 0000882800 pacv:MShenkmanTwoMember 2018-01-01 2018-06-30 0000882800 pacv:MShenkmanThreeMember 2018-01-01 2018-06-30 0000882800 pacv:AMasjediMember 2018-01-01 2018-06-30 0000882800 pacv:MShenkmanMember 2018-01-01 2018-06-30 0000882800 pacv:MShenkmanOneMember 2018-01-01 2018-06-30 0000882800 pacv:MShenkmanTwoMember 2018-06-30 0000882800 pacv:MShenkmanThreeMember 2018-06-30 0000882800 pacv:AMasjediMember 2018-06-30 0000882800 pacv:MShenkmanMember 2018-06-30 0000882800 pacv:MShenkmanOneMember 2018-06-30 0000882800 pacv:SMasjediMember 2018-06-30 0000882800 pacv:MGDMember pacv:UnsecuredPromissoryNoteMember 2012-02-01 2012-02-29 0000882800 pacv:MGDMember pacv:UnsecuredPromissoryNoteMember 2012-02-29 0000882800 pacv:UnsecuredPromissoryNoteMember pacv:MGDOneMember 2014-02-01 2014-02-28 0000882800 pacv:UnsecuredPromissoryNoteMember pacv:MGDOneMember 2014-02-28 0000882800 pacv:SecuredConvertiblePromissoryNoteMember pacv:SnobarHoldingsTwoMember 2014-05-01 2014-05-19 0000882800 pacv:SecuredConvertiblePromissoryNoteMember pacv:SnobarHoldingsTwoMember 2014-05-19 0000882800 pacv:SnobarHoldingsTwoMember 2014-12-31 0000882800 pacv:UnrelatedThirdPartyTwoMember pacv:AmendedPromissoryNotesMember 2017-09-30 0000882800 pacv:UnrelatedThirdPartyThreeMember pacv:AmendedPromissoryNotesMember 2017-09-30 0000882800 pacv:UnrelatedThirdPartyTwoMember pacv:AmendedPromissoryNotesMember 2017-09-01 2017-09-30 0000882800 pacv:UnrelatedThirdPartyThreeMember pacv:AmendedPromissoryNotesMember 2017-09-01 2017-09-30 0000882800 pacv:SnobarHoldingsMember us-gaap:CommercialPaperMember 2012-02-09 2012-02-21 0000882800 pacv:SnobarHoldingsMember us-gaap:CommercialPaperMember 2012-02-21 0000882800 pacv:SnobarHoldingsMember us-gaap:CommercialPaperMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperOneMember 2012-02-23 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperOneMember 2012-02-16 2012-02-23 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperOneMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperTwoMember 2013-03-14 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperTwoMember 2013-03-07 2013-03-14 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperTwoMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember pacv:PpromissoryNoteMember 2013-06-01 0000882800 pacv:SnobarHoldingsMember pacv:PpromissoryNoteMember 2013-05-24 2013-06-01 0000882800 pacv:SnobarHoldingsMember pacv:PpromissoryNoteMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperThreeMember 2014-09-09 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperThreeMember 2014-09-04 2014-09-09 0000882800 pacv:SnobarHoldingsMember pacv:CommercialPaperThreeMember 2018-06-30 0000882800 us-gaap:InvestorMember 2018-06-30 0000882800 pacv:ShareExchangeAgreementMember 2015-08-05 2015-08-14 0000882800 2017-06-30 0000882800 2016-12-31 0000882800 pacv:SnobarHoldingsTwoMember pacv:SettlementAgreementMember 2013-02-01 2013-02-13 0000882800 pacv:SnobarHoldingsTwoMember pacv:SettlementAgreementMember 2018-06-30 0000882800 pacv:MGDMember pacv:UnsecuredPromissoryNoteMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember pacv:UnsecuredPromissoryNoteMember 2013-03-14 0000882800 pacv:SnobarHoldingsMember pacv:UnsecuredPromissoryNoteMember 2013-03-07 2013-03-14 0000882800 pacv:SnobarHoldingsMember pacv:UnsecuredPromissoryNoteMember 2013-07-22 0000882800 pacv:SnobarHoldingsMember pacv:UnsecuredPromissoryNoteMember 2013-07-07 2013-07-22 0000882800 pacv:SnobarHoldingsMember pacv:UnsecuredPromissoryNoteMember 2018-06-30 0000882800 pacv:UnsecuredPromissoryNoteMember pacv:MGDOneMember 2018-06-30 0000882800 pacv:UnrelatedThirdPartyOneMember pacv:AmendedPromissoryNotesMember 2018-06-30 0000882800 pacv:FinancingArrangementMember 2018-06-30 0000882800 pacv:JSJInvestmentsIncMember pacv:ConvertiblePromissoryNoteMember 2018-06-30 0000882800 pacv:JSJInvestmentsIncMember pacv:ConvertiblePromissoryNoteMember 2017-07-12 0000882800 pacv:JSJInvestmentsIncMember pacv:ConvertiblePromissoryNoteMember 2017-07-03 2017-07-12 0000882800 pacv:ConvertibleRedeemableNoteMember 2018-01-11 0000882800 pacv:ConvertibleRedeemableNoteMember 2018-01-02 2018-01-11 0000882800 pacv:ConvertiblePromissoryNoteMember 2018-02-07 0000882800 pacv:ConvertiblePromissoryNoteMember 2018-02-02 2018-02-07 0000882800 pacv:ConvertiblePromissoryNoteMember 2018-06-30 0000882800 pacv:PacvMember pacv:PromissoryNoteMember 2018-06-30 0000882800 pacv:PacvMember pacv:PromissoryNoteMember 2018-01-01 2018-06-30 0000882800 pacv:PacvMember 2018-01-01 2018-06-30 0000882800 us-gaap:VehiclesMember 2018-01-01 2018-06-30 0000882800 us-gaap:EquipmentMember 2018-01-01 2018-06-30 0000882800 us-gaap:OfficeEquipmentMember srt:MinimumMember 2018-01-01 2018-06-30 0000882800 us-gaap:OfficeEquipmentMember srt:MaximumMember 2018-01-01 2018-06-30 0000882800 2018-04-01 2018-06-30 0000882800 2017-04-01 2017-06-30 0000882800 pacv:ARodriguezMember 2018-06-30 0000882800 pacv:ARodriguezMember 2018-01-01 2018-06-30 0000882800 pacv:ARodriguezOneMember 2018-01-01 2018-06-30 0000882800 pacv:ARodriguezOneMember 2018-06-30 0000882800 pacv:ARodriguezTwoMember 2018-01-01 2018-06-30 0000882800 pacv:ARodriguezTwoMember 2018-06-30 0000882800 pacv:TRACapitalMember 2018-01-01 2018-06-30 0000882800 pacv:TRACapitalMember 2018-06-30 0000882800 pacv:BNAInvMember 2018-01-01 2018-06-30 0000882800 pacv:BNAInvMember 2018-06-30 0000882800 pacv:MorningViewMember 2018-01-01 2018-06-30 0000882800 pacv:MorningViewMember 2018-06-30 0000882800 pacv:BrianBergMember 2018-01-01 2018-06-30 0000882800 pacv:BrianBergMember 2018-06-30 0000882800 pacv:ClassicBevMember 2018-01-01 2018-06-30 0000882800 pacv:ClassicBevMember 2018-06-30 0000882800 pacv:CrownBridgeMember 2018-01-01 2018-06-30 0000882800 pacv:CrownBridgeMember 2018-06-30 0000882800 pacv:JSJInvestmentsMember 2018-01-01 2018-06-30 0000882800 pacv:JSJInvestmentsMember 2018-06-30 0000882800 pacv:PowerUpMember 2018-01-01 2018-06-30 0000882800 pacv:PowerUpMember 2018-06-30 0000882800 pacv:TCAGlobalFundMember 2018-01-01 2018-06-30 0000882800 pacv:TCAGlobalFundMember 2018-06-30 0000882800 pacv:ClassicBeverageOneMember 2018-06-30 0000882800 pacv:UnrelatedThirdPartyOneMember pacv:AmendedPromissoryNotesMember 2017-09-30 0000882800 pacv:UnrelatedThirdPartyOneMember pacv:AmendedPromissoryNotesMember 2017-09-01 2017-09-30 0000882800 pacv:TCAGlobalFundMember 2018-04-18 2018-05-01 0000882800 us-gaap:SubsequentEventMember us-gaap:SeriesFPreferredStockMember pacv:ShannonMasjediMember 2018-07-01 2018-07-19 0000882800 us-gaap:SubsequentEventMember us-gaap:SeriesFPreferredStockMember 2018-07-01 2018-07-19 0000882800 us-gaap:SeriesEPreferredStockMember 2016-10-31 0000882800 us-gaap:SeriesEPreferredStockMember 2016-10-01 2018-10-31 0000882800 pacv:SnobarHoldingsMember pacv:JanuaryOneTwoThousandSeventeenMember 2018-01-01 2018-06-30 0000882800 pacv:CommercialPaperThreeMember 2014-09-09 0000882800 pacv:FinancingArrangementMember pacv:JulyAugustAndSeptemberOfTwoThousandSeventeenMember 2018-06-30 0000882800 pacv:SnobarHoldingsMember 2014-02-22 0000882800 pacv:SnobarHoldingsMember pacv:JanuaryOneTwoThousandSixteenMember 2018-01-01 2018-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure 456914 557193 0.08 1.37 0.10 0.08 0.08 0.05 0.08 0.05 0.02 0.05 0.05 0.12 0.10 0.02 0.10 0.08 0.02 36430248 82626293 46370509.00 59225 24598 -1528 -218 -5814 0 -2901 0 -6000 0 -39153 0 -15986 -11788 15687 0 10000 2058778 1.00 22500000 2500000 1.00 0.999 0 0 31858 29103 250000 2010-12-10 2014-09-09 2013-03-14 2013-06-01 2012-02-21 2012-02-23 2013-03-14 2013-07-22 2014-02-21 2017-10-26 2012-02-01 2017-05-01 2018-02-22 2017-07-12 2017-07-25 2018-05-01 332503 385801 S. Masjedi M. Shenkman M. Shenkman A. Masjedi M. Shenkman M. Shenkman 380345 16000 6000 215653 10000 10000 122692 30000 10000 500000 172500 50000 10000 10000 10000 500000 6000 86821 15000 10000 348601 55000 75000 30000 33000 18882 1750000 82673 272500 10000 129000 10000 2014-08-01 2015-12-31 2017-08-13 2017-08-13 2020-12-31 2020-12-31 2020-12-31 2014-03-14 2018-12-31 2018-04-12 2019-01-03 2017-08-13 Maturity date has been extended to December 31, 2020. Original maturity date of March 14, 2014, subsequently extended to December 31, 2020 with a lower interest rate of 2%/year. <p style="margin: 0">The note matured on June 31, 2017.</p> Maturity date has subsequently been extended to February 1, 2020. Maturity dates have been extended to December 31, 2018. Extended to November 15, 2017 for a fee of $15,000. The maturity date of the note should automatically be extended to December 31, 2016 (&#8220;First Extended Maturity Date&#8221;). Commencing on January 1, 2016, Sn&#246;bar Holdings was to make monthly payments of $15,000 until the First Extended Maturity Date. 2 10000 10000 6000 231067 16000 150000 25000 1000 37919 <p style="margin: 0">(i) at least 99% and up to 100% of the total issued and outstanding shares of Class A Common Stock and (ii)&#160;100% of the total issued and outstanding shares of Class B Common Stock, of Sn&#246;bar Holding. In accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of Sn&#246;bar Holdings&#8217; Class A and Class B Common Stock from Sn&#246;bar Shareholders, with Sn&#246;bar Holdings becoming a wholly owned subsidiary of the Company, in exchange for the issuance to the Sn&#246;bar Shareholders of 22,500,000 shares of restricted common stock of the Company and the issuance of 2,500,000 restricted shares of the Company&#8217;s common stock to certain other persons.</p> <p style="margin: 0pt">The 2,500,000 restricted shares of the Company&#8217;s common stock were issued for the following: 600,000 shares were issued for services for a total of $326,900 of non-cash expenses; a former officer of the Company received 1,000,000 shares in exchange for his 1,000,000 shares of Series E Preferred Stock; and 900,000 shares were issued to extinguish $21,675 of debt due to a former officer and shareholder of the Company.</p> <p style="margin: 0">Holders of common stock hold one vote per share.</p> Pacific Ventures Group, Inc. 0000882800 PACV false --12-31 10-Q 2018-06-30 Q2 2018 Smaller Reporting Company 69 146583 -85 25284 6589 220263 65896 1500 1500 8158 440501 27843 128821 27843 128821 36001 1525322 171085 477612 332503 385801 353759 283343 15000 88896 1314261 1792844 311821 1790279 42000 42000 215653 353821 1832279 1668082 3625123 1000 1000 36430 82627 4300514 4530065 -5970024 -6713491 -1632080 -2099800 36001 1525322 0.001 0.001 10000000 10000000 1000000 1000000 1000000 1000000 0.001 0.001 100000000 100000000 36430248 82626293 481673 481673 208462 208462 205725 370071 198515 101028 1997 1598 531 998 6437 6437 249466 691933 277762 121270 -249466 -483471 -277762 -121270 16439 255113 189148 9898 -244014 -738584 -258448 -128719 -244014 -738584 -258448 -128719 -0.00709 0.00894 0.00313 -0.00374 34437000 82626293 82626293 34437000 58051 1997 -34628 5406 220074 70412 -6000 -16373 209841 38517 53299 85488 -137231 -782622 352333 175000 70416 412333 224096 1750000 41863 4884 111863 2032575 -25369 146514 29563 224096 15042 0.02 181 25000 527333 30000 105000 37184 56066 840536 1832279 P5Y P3Y P3Y P15Y 40000 631000 20000 6259 956000 6000 950000 265369 72508 12807 12807 54895 6208 6849 2449 22500 88047 -208500 88896 -1103439 950000 141413 10426 1600 690135 690135 82626293 30181 30181 30181 10000 10000 2871 3000 25000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>1. NATURE OF OPERATIONS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><u>The Company and Nature of Business</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Pacific Ventures Group, Inc. (the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221;) was incorporated under the laws of the state of Delaware on October 3, 1986, under the name AOA Corporation. On November 12, 1991, the Company changed its name to American Eagle Group, Inc. On October22, 2012, the Company changed its name to &#8220;Pacific Ventures Group, Inc.&#8221;.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The current structure of the Company resulted from a share exchange with Sn&#246;bar Holdings, Inc. (&#8220;Sn&#246;bar Holdings&#8221;), which was treated as a reverse merger for accounting purposes. On August 14, 2015, the Company entered into a share exchange agreement (the &#8220;Share Exchange Agreement&#8221;) with Sn&#246;bar Holdings, pursuant to which the Company acquired 100% of the issued and outstanding shares of Sn&#246;bar Holdings&#8217; Class A and Class B common stock in exchange for 22,500,000 restricted shares of the Company&#8217;s common stock, while simultaneously issuing 2,500,000 restricted shares of the Company&#8217;s common stock to certain other persons, including for services provided and to a former officer of the Company (the &#8220;Share Exchange&#8221;).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">As the result of the Share Exchange, Sn&#246;bar Holdings became the Company&#8217;s wholly owned operating subsidiary and the business of Sn&#246;bar Holdings became the Company&#8217;s sole business operations and MAS Global Distributors, Inc., a California corporation (&#8220;MGD&#8221;), became an indirect subsidiary of the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Prior to the Share Exchange, the Company operated as an insurance holding company and through its subsidiaries, which marketed and underwrote specialized property and casualty coverage in the general aviation insurance marketplace. However, in 1997, after selling several of its divisions, the Company&#8217;s remaining insurance operations were placed into receivership and the Company ceased operating its insurance business.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Since the Share Exchange represents a change in control of the Company and a change in business operations, the business operations changed to that of Sn&#246;bar Holdings and the discussions of business operations accompanying this filing are solely that of Sn&#246;bar Holdings and its affiliates and subsidiaries comprising of Sn&#246;bar <font style="background-color: #FEFEFE">Trust</font><font style="background-color: white">, </font><font style="background-color: #FEFEFE">International Production Impex Corporation, a California corporation (&#8220;IPIC&#8221;)</font><font style="background-color: white">, and MGD.</font></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Sn&#246;bar Holdings was formed under the laws of the State of Delaware on January 7, 2013. <font style="background-color: #FEFEFE">Sn&#246;bar Holdings is the trustor and sole beneficiary of </font>Sn&#246;bar <font style="background-color: #FEFEFE">Trust, a California trust (&#8220;Trust&#8221;), which was formed in June 1, 2013. The current trustee that holds legal title to the Trust is Azita Davidiyan. The Trust owns 100% of the shares of IPIC, which was formed on August 2, 2001. IPIC </font>is in the business of selling alcohol-infused ice cream and ice-pops, and holds all of the rights to the liquor licenses to sell such products <font style="background-color: #FEFEFE">and trade names &#8220;Sn&#246;bar&#8221;. As such,</font> the Trust holds all ownership interest of IPIC and its liquor licenses, permitting IPIC to sell its product to distributors, with all income, expense, gains and losses rolling up to the Trust, of which Sn&#246;bar Holdings is the sole beneficiary. Sn&#246;bar Holdings <font style="background-color: #FEFEFE">also owns 99.9% of the shares of MGD. MGD is in the business</font> of selling and leasing freezers and providing <font style="background-color: #FEFEFE">marketing services. As a result of the foregoing,</font> Sn&#246;bar Holdings <font style="background-color: #FEFEFE">is the primary beneficiary of all assets, liabilities and any income received from the business of the Trust and IPIC through the Trust and is the parent company of MGD.</font></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Trust and IPIC are considered variable interest entities (&#8220;VIEs&#8221;) and Sn&#246;bar Holdings is identified as the primary beneficiary of the Trust and IPIC. Under the Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) 810, Sn&#246;bar Holdings performs ongoing reassessments of whether it is the primary beneficiary of a VIE. As the assessment of Sn&#246;bar Holdings&#8217; management is that Sn&#246;bar Holdings has the power to direct the activities of a VIE that most significantly impact the VIE&#8217;s activities (it is responsible for establishing and operating IPIC), and the obligation to absorb losses of the VIE that could potentially be significant to the VIE and the right to receive benefits from the VIE that could potentially be significant to the VIE&#8217;s economic performance, it was therefore concluded by management that Sn&#246;bar Holdings is the primary beneficiary of the Trust and IPIC. As such, the Trust and IPIC were consolidated in the financial statements of Sn&#246;bar Holdings since the inception of the Trust, in the case of the Trust, and since the inception of Sn&#246;bar Holdings, in the case of IPIC.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><u>Principles of Consolidation</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts of the Company, Sn&#246;bar Holdings and its subsidiaries, in which Sn&#246;bar Holdings has a controlling voting interest and entities consolidated under the variable interest entities (&#8220;VIE&#8221;) provisions of ASC 810, &#8220;Consolidation&#8221; (&#8220;ASC 810&#8221;). Inter-company balances and transactions have been eliminated upon consolidation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies the provisions of ASC 810 which provides a framework for identifying VIEs and determining when a company should include the assets, liabilities, non-controlling interests and results of activities of a VIE in its consolidated financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In general, a VIE is a corporation, partnership, limited-liability corporation, trust, or any other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2)&#160;has a group of equity owners that is unable to make significant decisions about its activities, (3)&#160;has a group of equity owners that does not have the obligation to absorb losses or the right to receive returns generated by its operations or (4) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity&#8217;s activities (for example, providing financing or buying assets) either involve or are conducted on behalf of an investor that has disproportionately fewer voting rights.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">ASC 810 requires a VIE to be consolidated by the party with an ownership, contractual or other financial interest in the VIE (a variable interest holder) that has both of the following characteristics: a) the power to direct the activities of a VIE that most significantly impact the VIE&#8217;s economic performance and b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">A variable interest holder that consolidates the VIE is called the primary beneficiary. If the primary beneficiary of a variable interest entity (VIE) and the VIE are under common control, the primary beneficiary shall initially measure the assets, liabilities, and non-controlling interests of the VIE at amounts at which they are carried in the accounts of the reporting entity that controls the VIE (or would be carried if the reporting entity issued financial statements prepared in conformity with generally accepted accounting principles).&#160;ASC 810 also requires disclosures about VIEs in which the variable interest holder is not required to consolidate but in which it has a significant variable interest.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 17.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Principles of Consolidation</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the Company, Sn&#246;bar Holdings, MGD, IPIC, and the Trust, which was established to hold IPIC, which in turn holds liquor licenses. All inter-company accounts have been eliminated during consolidation. See the discussion in Note 1 above for variable interest entity treatment of the Trust and IPIC.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 17.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Use of Estimates</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Revenue Recognition</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Sales revenues are generally recognized in accordance with the SAB 104 Public Company Guidance, when an agreement exists and price is determinable, the products are shipped to the customers or services are rendered, net of discounts, returns and allowance and collectability is reasonably assured. We are often entitled to bill our customers and receive payment from our customers in advance of recognizing the revenue. In the instances in which we have received payment from our customers in advance of recognizing revenue, we include the amounts in deferred or unearned revenue on our consolidated balance sheet.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.1pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Unearned Revenue</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Certain amounts are received pursuant to agreements or contracts and may only be used in the conduct of specified transactions or the related services are yet to be performed. These amounts are recorded as unearned or deferred revenue and are recognized as revenue in the year/period the related expenses are incurred or services are performed. As of June 30, 2018, the Company has $0 in deferred revenues.&#160; As of December 31, 2017, the Company also had $0 deferred revenue.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.2pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Shipping and Handling Costs</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#8217;s shipping costs are all recorded as operating expenses for all periods presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.3pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Disputed Liabilities</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company is involved in a variety of disputes, claims, and proceedings concerning its business operations and certain liabilities. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.&#160; As of June 30, 2018, the Company has $31,858 in disputed liabilities on its balance sheet.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In addition, on January 28, 2016, a labor dispute between IPIC and a former employee was ruled in favor of the former employee by the Labor Commissioner of the State of California.&#160; This finding resulted in compensation expenses of $29,103 and an accrued liability of the same amount on IPIC book for the six months ended June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.6pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Cash Equivalents</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers highly liquid instruments with original maturity of six months or less to be cash equivalents.&#160;As of June 30, 2018, the Company has a cash balance of $146,583 in cash and cash equivalents, compared to $69 at December 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Accounts Receivable</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018 the Company had $220,263 in Accounts Receivable. Accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based upon the level of past due accounts and the relationship with and financial status of our customers. The Company did not write off any bad debts during the six months ended June 30, 2018 and 2017, and thus has not set an allowance for doubtful accounts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.8pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Inventories</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials.&#160;As of June 30, 2018, the Company has $65,896 in inventories.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Income Taxes</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Net Income/(Loss) Per Common Share</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Income/(loss) per share of common stock is calculated by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company has no potentially dilutive securities. Accordingly, basic and dilutive income/(loss) per common share are the same.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.1pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Property and Equipment</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Property and equipment are carried at cost less accumulated depreciation and includes expenditures that substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are expensed as incurred. Upon sale or retirement of property and equipment, the cost and related accumulated depreciation are eliminated from the respective accounts and the resulting gain or loss is included in the results of operations. The Company provides for depreciation of property and equipment using the straight-line method over the estimated useful lives or the term of the lease, as appropriate. The estimated useful lives are as follows: vehicles, five years; office furniture and equipment, three to fifteen years; equipment, three years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Fair Value of Financial Instruments</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#8217;s financial instruments, which include cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to the short-term maturity of these instruments. The Company performed an independent valuation of San Diego Farmers Outlet (SDFO), in which it was determined that $950,000 if goodwill could be realized by the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Concentration of Credit Risk</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) up to limits of approximately $250,000. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.5pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Critical Accounting Policies</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers revenue recognition and the valuation of accounts receivable, allowance for doubtful accounts, and inventory and reserves as its significant accounting policies. Some of these policies require management to make estimates and assumptions that may affect the reported amounts in the Company&#8217;s financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.6pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Recent Accounting Pronouncements</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2009, the FASB established the Accounting Standards Codification (&#8220;Codification&#8221; or &#8220;ASC&#8221;) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (&#8220;GAAP&#8221;).&#160; Rules and interpretive releases of the Securities and Exchange Commission (the &#8220;SEC&#8221;) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.&#160; Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements.&#160; The ASC does change the way the guidance is organized and presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2015-03, &#8220;Interest &#8211; Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs&#8221;,&#160;to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-04, &#8220;Compensation &#8211; Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer&#8217;s Defined Benefit Obligation and Plan Assets&#8221;,&#160;which permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity&#8217;s fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-05, &#8220;Intangibles &#8211; Goodwill and Other &#8211; Internal-Use Software (Subtopic 350-40): Customer&#8217;s Accounting for Fees Paid in a Cloud Computing Arrangement&#8221;, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If such includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-06, &#8220;Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions&#8221;, which specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2014, FASB issued ASU No. 2014-10, &#8220;Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation&#8221;. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company&#8217;s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application is permitted&#160;with the first annual reporting period or interim period for which the entity&#8217;s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). Our company adopted this pronouncement.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2014, FASB issued ASU No. 2014-12, &#8220;Compensation &#8211; Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period&#8221;. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In August 2014, the FASB issued ASU 2014-15 on &#8220;Presentation of Financial Statements Going Concern (Subtopic 205-40) &#8211; Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern&#8221;. Currently, there is no guidance in GAAP about management&#8217;s responsibility to evaluate whether there is substantial doubt about an entity&#8217;s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&#8217;s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&#8217;s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&#8217;s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">All other newly issued accounting pronouncements which are not yet effective have been deemed either immaterial or not applicable.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">We reviewed all other recently issued accounting pronouncements and determined these have no current applicability to the Company or their effect on the financial statements would not have been significant.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>3. GOING CONCERN</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying consolidated financial statements, the Company has incurred a net loss of $738,584 for the six months ended June 30, 2018, and has an accumulated deficit of $6,713,491 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is significantly dependent upon its ability, and will continue to attempt, to secure equity and/or additional debt financing. There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern. These unaudited consolidated financial statements do not include any adjustments that might arise from this uncertainty.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>4. INVENTORIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018, the Company has $65,896 in inventories. Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>6. ACCRUED EXPENSE</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018, the Company had accrued expenses of $385,801 compared to $332,503, for the year-end December 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>7. INCOME TAX</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements.&#160; Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.1pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Unearned Revenue</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Certain amounts are received pursuant to agreements or contracts and may only be used in the conduct of specified transactions or the related services are yet to be performed. These amounts are recorded as unearned or deferred revenue and are recognized as revenue in the year/period the related expenses are incurred or services are performed. As of June 30, 2018, the Company has $0 in deferred revenues.&#160; As of December 31, 2017, the Company also had $0 deferred revenue.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.2pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Shipping and Handling Costs</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#8217;s shipping costs are all recorded as operating expenses for all periods presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.3pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Disputed Liabilities</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company is involved in a variety of disputes, claims, and proceedings concerning its business operations and certain liabilities. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.&#160; As of June 30, 2018, the Company has $31,858 in disputed liabilities on its balance sheet.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In addition, on January 28, 2016, a labor dispute between IPIC and a former employee was ruled in favor of the former employee by the Labor Commissioner of the State of California.&#160; This finding resulted in compensation expenses of $29,103 and an accrued liability of the same amount on IPIC book for the six months ended June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.6pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Cash Equivalents</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers highly liquid instruments with original maturity of six months or less to be cash equivalents.&#160;As of June 30, 2018, the Company has a cash balance of $146,583 in cash and cash equivalents, compared to $69 at December 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Accounts Receivable</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018 the Company had $220,263 in Accounts Receivable. Accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based upon the level of past due accounts and the relationship with and financial status of our customers. The Company did not write off any bad debts during the six months ended June 30, 2018 and 2017, and thus has not set an allowance for doubtful accounts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.8pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Inventories</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials.&#160;As of June 30, 2018, the Company has $65,896 in inventories.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Income Taxes</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Net Income/(Loss) Per Common Share</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Income/(loss) per share of common stock is calculated by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company has no potentially dilutive securities. Accordingly, basic and dilutive income/(loss) per common share are the same.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.1pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Property and Equipment</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Property and equipment are carried at cost less accumulated depreciation and includes expenditures that substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are expensed as incurred. Upon sale or retirement of property and equipment, the cost and related accumulated depreciation are eliminated from the respective accounts and the resulting gain or loss is included in the results of operations. The Company provides for depreciation of property and equipment using the straight-line method over the estimated useful lives or the term of the lease, as appropriate. The estimated useful lives are as follows: vehicles, five years; office furniture and equipment, three to fifteen years; equipment, three years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.2pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Fair Value of Financial Instruments</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The carrying amounts of the Company&#8217;s financial instruments, which include cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to the short-term maturity of these instruments. The Company performed an independent valuation of San Diego Farmers Outlet (SDFO), in which it was determined that $950,000 if goodwill could be realized by the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Concentration of Credit Risk</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) up to limits of approximately $250,000. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.5pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Critical Accounting Policies</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company considers revenue recognition and the valuation of accounts receivable, allowance for doubtful accounts, and inventory and reserves as its significant accounting policies. Some of these policies require management to make estimates and assumptions that may affect the reported amounts in the Company&#8217;s financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.6pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Recent Accounting Pronouncements</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2009, the FASB established the Accounting Standards Codification (&#8220;Codification&#8221; or &#8220;ASC&#8221;) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (&#8220;GAAP&#8221;).&#160; Rules and interpretive releases of the Securities and Exchange Commission (the &#8220;SEC&#8221;) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.&#160; Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements.&#160; The ASC does change the way the guidance is organized and presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2015-03, &#8220;Interest &#8211; Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs&#8221;,&#160;to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-04, &#8220;Compensation &#8211; Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer&#8217;s Defined Benefit Obligation and Plan Assets&#8221;,&#160;which permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity&#8217;s fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-05, &#8220;Intangibles &#8211; Goodwill and Other &#8211; Internal-Use Software (Subtopic 350-40): Customer&#8217;s Accounting for Fees Paid in a Cloud Computing Arrangement&#8221;, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If such includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In April 2015, FASB issued ASU No. 2015-06, &#8220;Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions&#8221;, which specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2014, FASB issued ASU No. 2014-10, &#8220;Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation&#8221;. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company&#8217;s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application is permitted&#160;with the first annual reporting period or interim period for which the entity&#8217;s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). Our company adopted this pronouncement.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In June 2014, FASB issued ASU No. 2014-12, &#8220;Compensation &#8211; Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period&#8221;. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">In August 2014, the FASB issued ASU 2014-15 on &#8220;Presentation of Financial Statements Going Concern (Subtopic 205-40) &#8211; Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern&#8221;. Currently, there is no guidance in GAAP about management&#8217;s responsibility to evaluate whether there is substantial doubt about an entity&#8217;s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity&#8217;s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management&#8217;s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management&#8217;s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">All other newly issued accounting pronouncements which are not yet effective have been deemed either immaterial or not applicable.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">We reviewed all other recently issued accounting pronouncements and determined these have no current applicability to the Company or their effect on the financial statements would not have been significant.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>8. RELATED PARTY TRANSACTIONS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The following table presents a summary of the Company&#8217;s promissory notes issued to related parties as of June 30, 2018:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">Noteholder</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Note<br /> Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&#160;</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Issuance<br /> Date</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Unpaid<br /> Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">S. Masjedi</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">150,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: center">12/10/2010</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">122,692</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">A. Masjedi</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">500,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">6/1/2013</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">215,653</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">2/21/2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">2/23/2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">3/14/2013</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">M. Shenkman (Entrust)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: center; padding-bottom: 1.5pt">9/9/2014</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">696,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: center; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">380,345</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The following description represent note payable-related party transaction pre-Share Exchange that were assumed by the Company as a condition to the Share Exchange:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On February 21, 2012, Sn&#246;bar Holdings entered into an unsecured promissory note with Mr. Shenkman, who is Chairman of the Board of Directors and a shareholder of the Company. The note had a principal balance of $10,000 with an interest rate of 5% and is due on demand. The note&#8217;s maturity date has subsequently been extended to December 31, 2020. Interest against the note was extinguished in a subsequent extension of the term. The note had a principal balance of $10,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On February 23, 2012, Sn&#246;bar Holdings entered into a promissory note with Mr. Shenkman for $10,000, maturing in one year at an interest of 8%. The note has subsequently been extended to December 31, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note had an outstanding balance of $10,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On March 14, 2013, Sn&#246;bar Holdings entered into an unsecured promissory note with a Mr. Shenkman, the Company&#8217;s Chairman of the Board of Directors. The note had a principal balance of $10,000 with an interest rate of 5% and an original maturity date of March 14, 2014, subsequently extended to December 31, 2020 with a lower interest rate of 2%/year. Mr. Shenkman also agreed to make all interest retroactive and deferred. The note had an outstanding balance of $6,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On June 1, 2013, Sn&#246;bar Holdings entered into a promissory note with Azizolla Masjedi, father-in-law to Shannon Masjedi who&#8217;s the Company&#8217;s President, Chief Executive Officer, Interim Chief Financial Officer, director and majority stockholder, in an amount of $500,000 to purchase all the shares and interests of IPIC. The note matured on June 31, 2017. As of June 30, 2018, the outstanding balance under this note was $231,067, which includes interest and penalty charges. The current balance is $215,653.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On September 9, 2014, Snobar Holdings entered into a second unsecured promissory note with Mr. Shenkman, through his affiliate company Entrust Group for a total amount of $6,000 and a third unsecured promissory note for a total amount of $10,000, both at an annual interest rate of 2%. No term was provided for in each note, but Mr. Shenkman has agreed to a maturity date of December 31, 2020 and the accrual of interest rates and deferral to maturity. The notes had an aggregate outstanding balance of $16,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018, the Company had related party current and long-term notes payable of $283,343 and $42,000, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The following table presents a summary of the Company&#8217;s promissory notes issued to unrelated</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Note Amount</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Issuance Date</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Balance</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="width: 50%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 13%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">86,821</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 16%; text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">3/14/13</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 14%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">86,821</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">15,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/22/13</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">15,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/21/14</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">TRA Capital</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">106,112</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">3 loans</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">106,112</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">BNA Inv</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">223,499</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">6 loans</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">223,499</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Morning View</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">35,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10/26/2017</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">18,990</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Brian Berg</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">30,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/1/12</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">25,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Classic Bev</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">73,473</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">5/1/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">82,673</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Crown Bridge</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">33,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/22/18</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">33,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">JSJ Investments</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">75,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/12/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">55,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">PowerUp</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">119,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/25/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">37,919</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">TCA Global Fund</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,750,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">5/1/2018</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,750,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2,556,905</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2,444,014</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">The following description represent unrelated notes payable transactions pre-reverse merger between Sn&#246;bar and the Company that were assumed by the Company as a condition to the Share Exchange Agreement:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">In February, 2012, MGD entered into an unsecured promissory note with a certain unrelated party, now a shareholder of the Company for a principal balance of $30,000 at in interest rate of 8% per year and maturity date of August 1, 2014. The note&#8217;s maturity date has been extended to December 31, 2020 and the interest rate under the extinguished as part of the extension. The note had an outstanding balance of $25,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On March 14, 2013, Sn&#246;bar Holdings entered into an unsecured promissory note with a certain unrelated third party, now a shareholder of the Company. The note had a principal balance of $86,821 with an interest rate of 5% and had a maturity date of March 14, 2014. The note&#8217;s maturity date has subsequently been extended to February 1, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note is current and the entire balance is owed and outstanding as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On July 22, 2013, Sn&#246;bar Holdings entered into an unsecured promissory note with a certain unrelated third party. The note had a principal balance of $15,000 with an original interest rate of 5%. On February 22, 2014 Snobar Holdings also entered into another note with the same party for $10,000. Maturity dates have been extended to December 31, 2018, and interest rates has been reduced to 2%, and lender agreed to make all interest retroactive and deferred. The balance of the note was $15,000 and $10,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">In February 2014, MGD entered into a secured promissory note with a certain unrelated third party for $10,000. The note was secured by interests in tangible and intangible property of MGD. The Company is to make payments of $181 each business day (Monday through Friday) until the loan is paid off. The effective interest rate on the note is 137%. The outstanding balance of the note is $1,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On May 19, 2014, Sn&#246;bar Holdings entered into a secured convertible promissory note with a principal balance of $500,000. The note was secured by interests in cash, accounts receivable, other receivables, inventory, supplies, other assets of Sn&#246;bar Holdings including general intangibles and rights of each liquor license owned by Sn&#246;bar Trust. The note has an interest rate of 10% and an original maturity date of December 31, 2015. The Company was to make interest only payments beginning July 1, 2014. The lender determined Sn&#246;bar Holdings to be in default and on January 29, 2015, entered into a mutually agreed loan modification. The agreement increased the principal balance of the note as of December 31, 2014 to $527,333 and all interest due and payable was deemed to have been paid and the conversion rights of the note were removed. The modification also removed and deleted, in its entirety, all secured interests in cash, accounts receivable, other receivables, inventory, supplies, and other assets of Sn&#246;bar Holdings, including intangibles, and rights of each liquor license owned by Sn&#246;bar Trust. The maturity date was December 31, 2015 if Sn&#246;bar Holdings is not in default, the maturity date of the note should automatically be extended to December 31, 2016 (&#8220;First Extended Maturity Date&#8221;). Commencing on January 1, 2016, Sn&#246;bar Holdings was to make monthly payments of $15,000 until the First Extended Maturity Date. Assuming Sn&#246;bar Holdings was not in default with respect to its obligations as of the First Extended Maturity Date, the note would have automatically been extended to December 31, 2017 (&#8220;Second Extended Maturity Date&#8221;). Commencing on January 1, 2017, the monthly payments increased to $25,000 for every month until the Second Extended Maturity Date. All accrued but unpaid interest, charges and the remaining principal balance of the note was fully due and payable on the Second Extended Maturity Date. In January of 2016 the company decided to enter into renegotiation period for the repayment terms of the modification dated January 29, 2015. As a result of the renegotiation with the note holder.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font>&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">The following description represents unrelated note payable transactions post-merger between Sn&#246;bar and the Company:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On February 13, 2017, the Company entered a settlement agreement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 restricted shares of the Company&#8217;s common stock and $200,000 in future cash payment comprising of $25,000 on June 30, 2017, $25,000 on June 30, 2018, $25,000 on June 30, 2019, and $125,000 on June 30, 2020. As of March 10, 2017, the Company issued to the creditor, 400,000 restricted shares of the Company&#8217;s common stock, and also paid the $25,000 for the required June 30, 2017 cash payment. The $25,000 payment due in 2018 was paid to JRSR26 on March 1, 2018. The balance of the note as of December 31, 2017 is $175,000. The current balance as of June 30, 2018 is $150,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">Effective September 30, 2017, the Company entered into amended promissory notes with a certain unrelated third party in an amount of $272,500, one for $172,500, and four others for $50,000 each. All of the notes have an interest rate of 8% and had a maturity date of August 13, 2017, but have been extended to November 15, 2017 for a fee of $15,000. The notes had a principal outstanding balance of $348,601 as of June 30, 2018, including the $15,000 extension fee.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">In late July, August, and September of 2017, the Company entered into a financing arrangements with Power Up Lending pursuant to which the Company borrowed a total principal of $129,000 secured by shares of the Company&#8217;s common stock. The notes were subect to a 6 month hold before any stock was issued. The current balance is $37,919.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On July 12, 2017, the issued a Convertible Promissory Note with a certain unrelated party JSJ for total gross proceeds of $75,000. The note was subject to a 6 month hold before any stock is converted. The note is convertible at any time after the issuance date, bears interest at 12% and matures on April 12, 2018. The current principal amount is $55,000. The company entered into an agreement to pay a principal amount of $40,000 plus a fee of $20,000 and issue one and only one common stock certificate of 631,000 shares. Subsequently JSJ voided the agreement and has filed a complaint.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On January 11, 2018, the Company issued a Convertible Redeemable Note with a certain unrelated party. for total gross proceeds of $30,000. The note bears an interest of 10% and matures on January 3, 2019. The current principal balance is $30,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On February 7, 2018, the Company issued a Convertible Promissory Note with a certain unrelated party. for total gross proceeds of $105,000. The note bears an interest of 2%. The Company received the first tranche of the note and has a current principal balance of $33,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">Over the past year Classic Beverage has periodically issued loans to the Company. The Company has agreed to pay interest 10% per year and has agreed on penalty fees if late on payments. The note is due on demand. The current balance is $82,673.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On 2018, the company entered into a promissory note to pay off aged debt on the books of PACV. The amount was $56,066 and the total amount that has converted into stock during the first quarter is $37,184. The current principal balance as of June 30, 2018 is $18,882. That remaining balance converted into common stock in April of 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">On May 1, 2018, Pacific Ventures Group entered into a secured promissory note with TCA Global Fund for $1,750,000. The note was secured by interests in tangible and intangible property of Pacific Ventures Group. The Company is to make interest only payments of $24,462 for 2 month; $10,000 for the next 4 months; subsequent payments of $45,500 until the loan is paid off. The effective interest rate on the note is 16%. The outstanding balance of the note is $1,750,000 as of June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018, the Company had total short-term notes payable of $840,536 and long-term notes payable of $1,832,279.</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">Noteholder</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Note<br /> Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&#160;</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Issuance<br /> Date</td><td style="font-weight: bold; font-style: italic; padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="font-weight: bold; font-style: italic; text-align: center; border-bottom: Black 1.5pt solid">Unpaid<br /> Amount</td><td style="padding-bottom: 1.5pt; font-weight: bold; font-style: italic">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">S. Masjedi</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">150,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 11%; text-align: center">12/10/2010</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">122,692</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">A. Masjedi</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">500,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">6/1/2013</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">215,653</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">2/21/2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">2/23/2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">M. Shenkman</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: center">3/14/2013</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">M. Shenkman (Entrust)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="text-align: center; padding-bottom: 1.5pt">9/9/2014</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">16,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">696,000</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="text-align: center; padding-bottom: 4pt">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">380,345</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Note Amount</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Issuance Date</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Balance</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="width: 50%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 13%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">86,821</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 16%; text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">3/14/13</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="width: 14%; text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">86,821</font></td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">15,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/22/13</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">15,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">A. Rodriguez</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/21/14</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">TRA Capital</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">106,112</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">3 loans</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">106,112</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">BNA Inv</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">223,499</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">6 loans</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">223,499</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Morning View</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">35,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">10/26/2017</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">18,990</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Brian Berg</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">30,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/1/12</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">25,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Classic Bev</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">73,473</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">5/1/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">82,673</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Crown Bridge</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">33,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2/22/18</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">33,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">JSJ Investments</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">75,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/12/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">55,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">PowerUp</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">119,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">7/25/17</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">37,919</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">TCA Global Fund</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,750,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">5/1/2018</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,750,000</font></td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">Total</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2,556,905</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">2,444,014</font></td> <td style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 2556905 86821 15000 10000 106112 223499 35000 30000 73473 33000 75000 119000 1750000 2444014 86821 15000 10000 106112 223499 18990 25000 82673 33000 55000 37919 1750000 The Company entered a settlement agreement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 restricted shares of the Company&#8217;s common stock and $200,000 in future cash payment comprising of $25,000 on June 30, 2017, $25,000 on June 30, 2018, $25,000 on June 30, 2019, and $125,000 on June 30, 2020. As of March 10, 2017, the Company issued to the creditor, 400,000 restricted shares of the Company&#8217;s common stock, and also paid the $25,000 for the required June 30, 2017 cash payment. The $25,000 payment due in 2018 was paid to JRSR26 on March 1, 2018. The balance of the note as of December 31, 2017 is $175,000. The note was secured by interests in tangible and intangible property of Pacific Ventures Group. The Company is to make interest only payments of $24,462 for 2 month; $10,000 for the next 4 months; subsequent payments of $45,500 until the loan is paid off. The effective interest rate on the note is 16%. <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>9. STOCKHOLDERS&#8217; EQUITY</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><u>Share Exchange</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">On August 14, 2015, Sn&#246;bar Holdings entered into the Share Exchange Agreement with the Company and Sn&#246;bar Holdings&#8217; shareholders (the &#8220;Sn&#246;bar Shareholders&#8221;) who held of record (i) at least 99% and up to 100% of the total issued and outstanding shares of Class A Common Stock and (ii)&#160;100% of the total issued and outstanding shares of Class B Common Stock, of Sn&#246;bar Holding. In accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of Sn&#246;bar Holdings&#8217; Class A and Class B Common Stock from Sn&#246;bar Shareholders, with Sn&#246;bar Holdings becoming a wholly owned subsidiary of the Company, in exchange for the issuance to the Sn&#246;bar Shareholders of 22,500,000 shares of restricted common stock of the Company and the issuance of 2,500,000 restricted shares of the Company&#8217;s common stock to certain other persons (as set forth below).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The 2,500,000 restricted shares of the Company&#8217;s common stock were issued for the following: 600,000 shares were issued for services for a total of $326,900 of non-cash expenses; a former officer of the Company received 1,000,000 shares in exchange for his 1,000,000 shares of Series E Preferred Stock; and 900,000 shares were issued to extinguish $21,675 of debt due to a former officer and shareholder of the Company.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><u>Common Stock and Preferred Stock</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company is authorized to issue up to 10,000,000 shares of its preferred stock, $0.001 par value per share.&#160;Effective as of October 2016, the Company designated 1,000,000 shares of preferred stock as Series E Preferred Stock (the &#8220;Series E Preferred Stock&#8221;). Under the rights, preferences and privileges of the Series E Preferred Stock, for every share of Series E Preferred Stock held, the holder thereof has the voting rights equal to 10 shares of common stock.&#160;The Series E Preferred Stock is not convertible into any class of stock of the Company and has no preferences to&#160;dividends or liquidation rights.&#160;As of June 30, 2018 and December 31, 2017, there were 1,000,000 shares of Series E Preferred Stock issued and outstanding.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">From April 1, 2018 through June 30, 2018, the Company issued 46,370,509.00 shares of its common stock to various investors for services or debt conversion.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company is authorized to issue up to 100,000,000 shares of its common stock, $0.001 par value per share.&#160;Holders of common stock hold one vote per share. As of June 30, 2018, there were 82,626,293 shares of common stock issued and outstanding, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>10. COMMITMENTS, CONTINGENCIES AND UNCERTAINTIES</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><u>Operating Lease</u></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company is currently obligated under two operating leases for office spaces and associated building expenses.&#160; Both leases are on a month-to-month basis.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">San Diego Farmers Outlet has a 5 years lease at $6,000 per month with two (5) year options to extend the lease.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>11. SUBSEQUENT EVENTS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">ASC 855-16-50-4 establishes accounting and disclosure requirements for subsequent events. ASC 855 details the period after the balance sheet date during which we should evaluate events or transactions that occur for potential recognition or disclosure in the financial statements, the circumstances under which we should recognize events or transactions occurring after the balance sheet date in its financial statements and the required disclosures for such events.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Company has evaluated all subsequent events through the date these consolidated financial statements were issued, and determined the following are material to disclose.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">On July 19, 2018 (the &#8220;Effective Date&#8221;), Pacific Ventures Group, Inc., a Delaware corporation (the &#8220;Corporation&#8221;), entered into a Series F Preferred Stock Recipient Agreement (&#8220;Preferred Stock Recipient Agreement&#8221;) with Ms. Shannon Masjedi (the &#8220;Series F Holder&#8220;, an officer, director and controlling shareholder of the Corporation), pursuant to which the Series F Holder was issued fifty thousand (50,000) shares out of fifty thousand (50,000) authorized shares of Series F Convertible Preferred Stock, par value $.001 per share (the &#8220;Series F Preferred Stock&#8221;). The Series F Holder was issued one (1) share of Series F Preferred Stock as consideration for such Series F Holder&#8217;s agreement to forgive $1.00 of the Corporation&#8217;s indebtedness to the Series F Holder. The total amount of Corporation indebtedness to the Series F Holder and forgiven by the Series F Holder amounted to $50,000, pursuant to the terms of the Preferred Stock Recipient Agreement, which agreement is incorporated by reference herein as Exhibit 10.1.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The Series F Preferred Stock has the rights, privileges, preferences and restrictions set forth in the Certificate of Designation (the &#8220;Certificate of Designation&#8221;) filed by the Corporation with the Secretary of State of the State of Delaware (&#8220;Delaware Secretary of State&#8221;) on July 25, 2018, as more fully described in Item 5.03 below. Each issued and outstanding share Series F Preferred Stock shall be entitled to the number of votes equal to the result of: (i) the number of shares of Common Stock of the Corporation issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series F Preferred Stock issued and outstanding at the time of such vote, at each meeting of shareholders of the Corporation with respect to any and all matters presented to the shareholders of the Corporation for their action or consideration, including the election of directors. Holders of Series F Preferred Stock shall vote together with the holders of Common Stock as a single class.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Each outstanding share of Series F Preferred Stock shall be convertible into the number of shares of the Corporation&#8217;s common stock (&#8220;Common Stock&#8221;) determined by dividing the Stated Value ($1.00 per share) by the Conversion Price as defined below, at the option of the Holder in whole or in part, at any time commencing no earlier than six (6) months after the Issuance Date; provided that any conversion under this section must be made during the ten (10) day period immediately following the date on which the Corporation files with the Securities and Exchange Commission any periodic report on form 10-Q, 10-K or the equivalent form; provided further that, any conversion under this Section IV(a) shall be for a minimum Stated Value of $500.00 of Series F Preferred Stock. The Conversion Price for each share of Series F Preferred Stock in effect on any Conversion Date shall be (a) eighty five percent (85%) of the average closing bid price of the Common Stock over the twenty (20) trading days immediately preceding the date of conversion, (b) but no less than Par Value of the Common Stock. For purposes of determining the closing bid price on any day, reference shall be to the closing bid price for a share of Common Stock on such date on the NASD OTC Bulletin Board, as reported on Bloomberg, L.P. (or similar organization or agency succeeding to its functions of reporting prices).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The foregoing description of the Preferred Stock Recipient Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Form of a Preferred Stock Recipient Agreement.</font></p> Pursuant to which the Series F Holder was issued fifty thousand (50,000) shares out of fifty thousand (50,000) authorized shares of Series F Convertible Preferred Stock, par value $.001 per share (the &#8220;Series F Preferred Stock&#8221;). The Series F Holder was issued one (1) share of Series F Preferred Stock as consideration for such Series F Holder&#8217;s agreement to forgive $1.00 of the Corporation&#8217;s indebtedness to the Series F Holder. The total amount of Corporation indebtedness to the Series F Holder and forgiven by the Series F Holder amounted to $50,000, pursuant to the terms of the Preferred Stock Recipient Agreement. The number of shares of the Corporation&#8217;s common stock (&#8220;Common Stock&#8221;) determined by dividing the Stated Value ($1.00 per share) by the Conversion Price as defined below, at the option of the Holder in whole or in part, at any time commencing no earlier than six (6) months after the Issuance Date; provided that any conversion under this section must be made during the ten (10) day period immediately following the date on which the Corporation files with the Securities and Exchange Commission any periodic report on form 10-Q, 10-K or the equivalent form; provided further that, any conversion under this Section IV(a) shall be for a minimum Stated Value of $500.00 of Series F Preferred Stock. The Conversion Price for each share of Series F Preferred Stock in effect on any Conversion Date shall be (a) eighty five percent (85%) of the average closing bid price of the Common Stock over the twenty (20) trading days immediately preceding the date of conversion, (b) but no less than Par Value of the Common Stock. 3 loans 6 loans (i) the number of shares of Common Stock of the Corporation issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series F Preferred Stock issued and outstanding at the time of such vote, at each meeting of shareholders of the Corporation with respect to any and all matters presented to the shareholders of the Corporation for their action or consideration, including the election of directors. Holders of Series F Preferred Stock shall vote together with the holders of Common Stock as a single class. 696000 16000 10000 500000 10000 10000 150000 15000 San Diego Farmers Outlet has a 5 years lease at $6,000 per month with two (5) year options to extend the lease. 950000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><b>5. PROPERTY, PLANT AND EQUIPMENT</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Property, plant and equipment at June 30, 2018 and December 31, 2017, consisted of:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">June 30, <br /> 2018</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#160;31, <br /> 2017</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Computers</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,788</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,986</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Freezers</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">39,153</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office Furniture</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,687</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Rugs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Software - Accounting</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,901</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Telephone System</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5,814</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Video Camera</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">218</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,528</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Building &#38; Improvement</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forklift 1</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forklift 2</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,871</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Truck 2004 Hino 1</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Truck 2004 Hino 2</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Truck 2018 Hino 155 5347</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,181</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Truck 2018 Hino 155 5647</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,181</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Truck 2018 Hino 155 5680</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,181</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated Depreciation</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(24,598</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,225</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Net Book Value</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">128,821</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,843</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation expense for the six months ended June 30, 2018 was $5,094.47compared to $1,997 for the same period of June 30, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"></font></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">June 30, <br /> 2018</td><td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">December&#160;31, <br /> 2017</td><td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%">Computers</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,788</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">15,986</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Freezers</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">39,153</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office Furniture</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,687</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Rugs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Software - Accounting</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,901</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Telephone System</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5,814</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Video Camera</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">218</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,528</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Building &#38; Improvement</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forklift 1</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forklift 2</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,871</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Truck 2004 Hino 1</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Truck 2004 Hino 2</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Truck 2018 Hino 155 5347</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,181</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Truck 2018 Hino 155 5647</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,181</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Truck 2018 Hino 155 5680</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">30,181</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Accumulated Depreciation</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(24,598</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,225</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">Net Book Value</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">128,821</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td><td style="padding-bottom: 4pt">&#160;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">27,843</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 17.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Principles of Consolidation</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The consolidated financial statements include the Company, Sn&#246;bar Holdings, MGD, IPIC, and the Trust, which was established to hold IPIC, which in turn holds liquor licenses. All inter-company accounts have been eliminated during consolidation. See the discussion in Note 1 above for variable interest entity treatment of the Trust and IPIC.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 17.9pt; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Use of Estimates</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif"><i>Revenue Recognition</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font: 10pt Times New Roman, Times, Serif">Sales revenues are generally recognized in accordance with the SAB 104 Public Company Guidance, when an agreement exists and price is determinable, the products are shipped to the customers or services are rendered, net of discounts, returns and allowance and collectability is reasonably assured. We are often entitled to bill our customers and receive payment from our customers in advance of recognizing the revenue. In the instances in which we have received payment from our customers in advance of recognizing revenue, we include the amounts in deferred or unearned revenue on our consolidated balance sheet.</font></p> 1000000 <p style="margin: 0">The voting rights equal to 10 shares of common stock.</p> EX-101.SCH 6 pacv-20180630.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - Nature of Operations link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Going Concern link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Inventories link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Property, Plant and Equipment link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Accrued Expense link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Income Tax link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Commitments, Contingencies and Uncertainties link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Property, Plant and Equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Related Party Transactions (Tables) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Nature of Operations (Details) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Going Concern (Details) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Inventories (Details) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Property, Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Property, Plant and Equipment (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Accrued Expense (Details) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Related Party Transactions (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Related Party Transactions (Details Textual) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Stockholders' Equity (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Commitments, Contingencies and Uncertainties (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Subsequent Events (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 pacv-20180630_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 pacv-20180630_def.xml XBRL DEFINITION FILE EX-101.LAB 9 pacv-20180630_lab.xml XBRL LABEL FILE Business Acquisition [Axis] Snobar Holdings [Member] Type of Agreement [Axis] Share Exchange Agreement [Member] Related Party [Axis] IPIC [Member] MGD [Member] Related Party [Axis] SMasjedi M. Shenkman M. Shenkman A. Masjedi M. Shenkman M. Shenkman MGD [Member] Financial Instrument [Axis] Unsecured Promissory Note [Member] MGD One [Member] Secured Convertible Promissory Note [Member] Snobar Holdings Two [Member] Unrelated Third Party Two [Member] Amended Promissory Notes [Member] Unrelated Third Party Three [Member] Cash and Cash Equivalents [Axis] Commercial Paper [Member] Commercial Paper One [Member] Commercial Paper Two [Member] Promissory note [Member] Commercial Paper Three [Member] Investor [Member] Agreement [Axis] Settlement Agreement [Member] Unrelated Third Party One [Member] Financing Arrangement [Member] JSJ Investments Inc [Member] Short-term Debt, Type [Axis] Convertible Promissory Note [Member] Convertible Redeemable Note [Member] PACV [Member] Promissory note [Member] Property, Plant and Equipment, Type [Axis] Vehicles [Member] Equipment [Member] Office furniture and equipment [Member] Range [Axis] Minimum [Member] Maximum [Member] A. Rodriguez [Member] A. Rodriguez One [Member] A. Rodriguez Two [Member] TRA Capital [Member] BNA Inv [Member] Morning View [Member] Brian Berg [Member] Classic Bev [Member] Crown Bridge [Member] JSJ Investments [Member] PowerUp [Member] TCA Global Fund [Member] Classic Beverage [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Class of Stock [Axis] Series F Preferred Stock [Member] Shannon Masjedi [Member] Series E Preferred Stock [Member] Award Date [Axis] January 1, 2017 [Member] July, August, and September of 2017 [Member] January 1, 2016 [Member] Document and Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Trading Symbol Amendment Flag Current Fiscal Year End Date Document Type Document Period End Date Document Fiscal Period Focus Document Fiscal Year Focus Entity Filer Category Entity Common Stock, Shares Outstanding Statement of Financial Position [Abstract] ASSETS Current Assets: Cash and cash equivalents Accounts receivable Inventory, net Other current assets Deposits Total Current Assets Fixed Assets Fixed assets, net Total Fixed Assets Other Assets Intangible Assets Rent Deposit Other Assets TOTAL ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued expenses Deferred revenue Current portion, notes payable Current portion, notes payable - related party Current portion, leases payable Total Current Liabilities Long-Term Liabilities: Notes payable Notes payable - related party Total Long-Term Liabilities Total Liabilities STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, $.001 par value, 10,000,000 shares authorized, 1,000,000 Series E, issued and outstanding Common stock, $.001 par value, 100,000,000 shares authorized, 82,626,293 and 36,430,248 issued and outstanding, respectively Additional paid in capital Accumulated deficit Total Stockholders' Equity (Deficit) Total Liabilities and Stockholders' Equity (Deficit) Series E preferred stock, par value Series E preferred stock, shares authorized Series E preferred stock, shares issued Series E preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Sales, net of discounts Cost of Goods Sold Gross Profit Operating Expenses Selling, general and administrative Marketing and Advertising Penalty on Payroll Taxes Depreciation expense Financing Cost Professional fees Salaries and wages Operating Expenses/(Loss) Loss from Operations Other Non-Operating Income and Expenses Gain on shares issued for services Interest expense Forgiveness of Debt Extraordinary Items Net Income/(Loss) before Income Taxes Provision for income taxes Net Income/(Loss) Basic and Diluted Loss per Share - Common Stock Weighted Average Number of Shares Outstanding: Basic and Diluted Class A Common Stock Statement of Cash Flows [Abstract] OPERATING ACTIVITIES Net loss Adjustments to reconcile net loss to net cash used in operating activities: Shares issued for services Accumulated Depreciation Changes in operating assets and liabilities Accounts receivable Inventory Trucks Deposits Accounts payable Accrued expenses Repayment of notes payable Retirement of fixed assets Net Cash Used in Operating Activities INVESTING ACTIVITIES Loan Receivable Computers Purchase of equipment, building & improvements Goodwill and Intangible Assets Net Cash Provided By (Used In) Investing Activities FINANCING ACTIVITIES Proceeds from notes payable Proceeds from notes payable - Related Repayment of notes payable Repayment of notes payable - Related Shares issued for debt conversion Common stocks issued for cash Prior period adjustment to retained earnings Net Cash Provided by Financing Activities NET INCREASE (DECREASE) IN CASH CASH AT BEGINNING OF PERIOD CASH AT END OF PERIOD SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: CASH PAID FOR: Interest NON CASH FINANCING ACTIVITIES: Issuance of shares for debt conversion Organization, Consolidation and Presentation of Financial Statements [Abstract] NATURE OF OPERATIONS Accounting Policies [Abstract] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Going Concern [Abstract] GOING CONCERN Inventory Disclosure [Abstract] INVENTORIES Property, Plant and Equipment [Abstract] PROPERTY, PLANT AND EQUIPMENT Payables and Accruals [Abstract] ACCRUED EXPENSE Income Tax Disclosure [Abstract] INCOME TAX Related Party Transactions [Abstract] RELATED PARTY TRANSACTIONS Equity [Abstract] STOCKHOLDERS' EQUITY Commitments and Contingencies Disclosure [Abstract] COMMITMENTS, CONTINGENCIES AND UNCERTAINTIES Subsequent Events [Abstract] SUBSEQUENT EVENTS Principles of Consolidation Use of Estimates Revenue Recognition Unearned Revenue Shipping and Handling Costs Disputed Liabilities Cash Equivalents Accounts Receivable Inventories Income Taxes Net Income/(Loss) Per Common Share Property and Equipment Fair Value of Financial Instruments Concentration of Credit Risk Critical Accounting Policies Recent Accounting Pronouncements Schedule of property, plant and equipment Schedule of promissory notes issued to related parties Schedule of promissory notes issued to unrelated third parties Statement [Table] Statement [Line Items] TypeOfAgreementAxis [Axis] Nature of Operations (Textual) Pacific ventures acquired percentage Exchange for restricted shares of pacific ventures' common stock Issuing shares of pacific ventures restricted common stock to certain other persons Percentage of ownership shares Summary of Significant Accounting Policies (Textual) Deferred revenue Disputed liabilities Compensation expenses Inventories Federal Deposit Insurance Corporation (FDIC), amount Property and equipment, estimated useful lives or term of lease Goodwill Going Concern (Textual) Inventories (Textual) Computers Freezers Office Furniture Rugs Software - Accounting Telephone System Video Camera Building & Improvement Forklift 1 Forklift 2 Truck 2004 Hino 1 Truck 2004 Hino 2 Truck 2018 Hino 155 5347 Truck 2018 Hino 155 5647 Truck 2018 Hino 155 5680 Accumulated Depreciation Net Book Value Property, Plant and Equipment (Textual) Depreciation expense Accrued Expense (Textual) Accrued expenses Related Party Transaction [Axis] S. Masjedi [Member] A. Masjedi [Member] M. Shenkman [Member] M. Shenkman [Member] M. Shenkman [Member] M. Shenkman (Entrust) [Member] Noteholder Note Amount Issuance Date Unpaid Amount A. Rodriguez [Member] A. Rodriguez [Member] Note Amount Balance Number of loans issuance date, description Promissory Notes [Member Unsecured promissory note two [Member] Unsecured promissory note [Member] Unsecured promissory note one [Member] Unsecured promissory note three [Member] Unsecured promissory note four [Member] JSJ [Member] Related Party Transactions (Textual) Principal balance Interest rate Maturity date Maturity, term Unpaid outstanding amount Long-term notes payable Current notes payable Unrelated note payable transactions, description Reduce interest rate Payment of loan Shareholder increase principal amount Extension fee Proceeds from convertible promissory note, gross Fee amount Agreement to pay a principal amount Common stock certificate, share Proceeds from certain unrelated party, gross Amount of converted into stock Long-term notes payable Short-term notes payable Secured interest payments, description Document And Entity Information [Axis] Stockholders' Equity (Textual) Share exchange agreement, description Common stock conversions, description Preferred stock, par value Preferred stock, shares authorized Series E preferred stock, shares issued Series E preferred stock, shares outstanding Preferred stock shares, designated Preferred stock voting rights, description Common stock voting rights, description Commitments, Contingencies and Uncertainties (Textual) Number of operating leases Operating lease, description Title of Individual [Axis] Ms. Shannon Masjedi [Member] Subsequent Events (Textual) Stock recipient agreement, description Description of convertible common stock Preferred stock issued and outstanding votes, description Number of common stock certificate shares. Computers CriticalAccountingPoliciesPolicyPolicyTextBlock Unpaid outstanding amount. Disputed Liabilities. Accounting policy for disputed liabilities. Exchange for restricted shares of pacific ventures' common stock. Amount before accumulated amortization of forklift. Amount before accumulated amortization of truck. Freezers Amount of gain on shares issued for services. Repayment of notes payable. The increase (decrease) during the reporting period for trucks. custom:LoansPayable1Member custom:LoansPayable2Member custom:LoansPayable3Member custom:LoansPayable4Member custom:LoansPayable5Member custom:LoansPayable6Member custom:LoansPayable7Member custom:LoansPayable8Member custom:LoansPayable9Member Note Holder. Number of operating leases. The cash outflow associated with the development, modification or acquisition of software programs or applications for internal use (that is, not to be sold, leased or otherwise marketed to others) that qualify for capitalization. Preferred stock shares, designated. Proceeds from certain unrelated party, gross. PromissoryNoteMember Promissory Notes Issued Unpaid Amount. Rugs Tabular disclosure of promissory notes issued to unrelated third parties. Software Accounting Telephone System Amount before accumulated amortization of truck. Amount before accumulated amortization of truck. Amount before accumulated amortization of truck. Amount before accumulated amortization of truck. Amount before accumulated amortization of truck. Unpaid amount. Description of unrelated note payable transactions. Video Camera. Description of secured interest payments tangible and intangible property. Description of stock recipient agreement. Description of issuance date. Description of preferred stock issued and outstanding votes. Notes Payable 4 [Member] Notes Payable 3 [Member] MGDMember Promissory note member. Inventory, Net Other Assets, Current Assets, Current Assets, Noncurrent Other Assets, Noncurrent Assets Liabilities, Current Liabilities, Noncurrent Liabilities Stockholders' Equity Attributable to Parent Liabilities and Equity Gross Profit Operating Expenses [Default Label] Operating Income (Loss) Interest Expense Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Increase (Decrease) in Accounts Receivable Increase (Decrease) in Inventories Increase (Decrease) in Deposits Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Liabilities Net Cash Provided by (Used in) Operating Activities Payments to Acquire Loans Receivable PaymentsForProceedsFromComputers Payments to Acquire Property, Plant, and Equipment Payments to Acquire Intangible Assets Net Cash Provided by (Used in) Investing Activities Repayments of Notes Payable Repayments of Related Party Debt Payments for Repurchase of Other Equity Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Telephone system Deferred Revenue Notes Payable 5 [Member] Cash, FDIC Insured Amount Computers Freezers Rugs Software - Accounting Telephone system [Default Label] Video Camera Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Accrued Liabilities Notes Payable EX-101.PRE 10 pacv-20180630_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information
6 Months Ended
Jun. 30, 2018
shares
Document and Entity Information [Abstract]  
Entity Registrant Name Pacific Ventures Group, Inc.
Entity Central Index Key 0000882800
Trading Symbol PACV
Amendment Flag false
Current Fiscal Year End Date --12-31
Document Type 10-Q
Document Period End Date Jun. 30, 2018
Document Fiscal Period Focus Q2
Document Fiscal Year Focus 2018
Entity Filer Category Smaller Reporting Company
Entity Common Stock, Shares Outstanding 82,626,293
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 146,583 $ 69
Accounts receivable 220,263 6,589
Inventory, net 65,896
Other current assets 6,259  
Deposits 1,500 1,500
Total Current Assets 440,501 8,158
Fixed Assets    
Fixed assets, net 128,821 27,843
Total Fixed Assets 128,821 27,843
Other Assets    
Intangible Assets 950,000
Rent Deposit 6,000
Other Assets 956,000
TOTAL ASSETS 1,525,322 36,001
Current Liabilities:    
Accounts payable 477,612 171,085
Accrued expenses 385,801 332,503
Deferred revenue
Current portion, notes payable 557,193 456,914
Current portion, notes payable - related party 283,343 353,759
Current portion, leases payable 88,896  
Total Current Liabilities 1,792,844 1,314,261
Long-Term Liabilities:    
Notes payable 1,790,279 311,821
Notes payable - related party 42,000 42,000
Total Long-Term Liabilities 1,832,279 353,821
Total Liabilities 3,625,123 1,668,082
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, $.001 par value, 10,000,000 shares authorized, 1,000,000 Series E, issued and outstanding 1,000 1,000
Common stock, $.001 par value, 100,000,000 shares authorized, 82,626,293 and 36,430,248 issued and outstanding, respectively 82,627 36,430
Additional paid in capital 4,530,065 4,300,514
Accumulated deficit (6,713,491) (5,970,024)
Total Stockholders' Equity (Deficit) (2,099,800) (1,632,080)
Total Liabilities and Stockholders' Equity (Deficit) $ 1,525,322 $ 36,001
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2018
Dec. 31, 2017
Statement of Financial Position [Abstract]    
Series E preferred stock, par value $ 0.001 $ 0.001
Series E preferred stock, shares authorized 10,000,000 10,000,000
Series E preferred stock, shares issued 1,000,000 1,000,000
Series E preferred stock, shares outstanding 1,000,000 1,000,000
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 82,626,293 36,430,248
Common stock, shares outstanding 82,626,293 36,430,248
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]        
Sales, net of discounts $ 690,135 $ 690,135
Cost of Goods Sold 481,673 481,673
Gross Profit 208,462 208,462
Operating Expenses        
Selling, general and administrative 198,515 101,028 370,071 205,725
Marketing and Advertising 6,208   54,895  
Penalty on Payroll Taxes   12,807   12,807
Depreciation expense 531 998 1,598 1,997
Financing Cost       22,500
Professional fees 72,508   265,369
Salaries and wages   6,437   6,437
Operating Expenses/(Loss) 277,762 121,270 691,933 249,466
Loss from Operations (277,762) (121,270) (483,471) (249,466)
Other Non-Operating Income and Expenses        
Gain on shares issued for services
Interest expense (189,148) (9,898) (255,113) (16,439)
Forgiveness of Debt 2,449 6,849
Extraordinary Items     15,042
Net Income/(Loss) before Income Taxes (258,448) (128,719) (738,584) (244,014)
Provision for income taxes
Net Income/(Loss) $ (258,448) $ (128,719) $ (738,584) $ (244,014)
Basic and Diluted Loss per Share - Common Stock $ 0.00313 $ (0.00374) $ 0.00894 $ (0.00709)
Weighted Average Number of Shares Outstanding:        
Basic and Diluted Class A Common Stock 82,626,293 34,437,000 82,626,293 34,437,000
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
OPERATING ACTIVITIES    
Net loss $ (738,584) $ (244,014)
Adjustments to reconcile net loss to net cash used in operating activities:    
Shares issued for services 58,051  
Accumulated Depreciation (34,628) 1,997
Changes in operating assets and liabilities    
Accounts receivable (220,074) (5,406)
Inventory (70,412)  
Trucks 88,896  
Deposits (6,000)  
Accounts payable 209,841 (16,373)
Accrued expenses 53,299 38,517
Repayment of notes payable (208,500) 88,047
Retirement of fixed assets 85,488  
Net Cash Used in Operating Activities (782,622) (137,231)
INVESTING ACTIVITIES    
Loan Receivable (1,600)  
Computers (10,426)  
Purchase of equipment, building & improvements (141,413)
Goodwill and Intangible Assets (950,000)  
Net Cash Provided By (Used In) Investing Activities (1,103,439)
FINANCING ACTIVITIES    
Proceeds from notes payable 2,058,778 10,000
Proceeds from notes payable - Related  
Repayment of notes payable (175,000) (352,333)
Repayment of notes payable - Related (70,416)  
Shares issued for debt conversion 224,096 412,333
Common stocks issued for cash   41,863
Prior period adjustment to retained earnings (4,884)  
Net Cash Provided by Financing Activities 2,032,575 111,863
NET INCREASE (DECREASE) IN CASH 146,514 (25,369)
CASH AT BEGINNING OF PERIOD 69 25,284
CASH AT END OF PERIOD 146,583 (85)
CASH PAID FOR:    
Interest 29,563
NON CASH FINANCING ACTIVITIES:    
Issuance of shares for debt conversion $ 224,096
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Nature of Operations
6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
NATURE OF OPERATIONS

1. NATURE OF OPERATIONS

 

The Company and Nature of Business

 

Pacific Ventures Group, Inc. (the “Company,” “we,” “us” or “our”) was incorporated under the laws of the state of Delaware on October 3, 1986, under the name AOA Corporation. On November 12, 1991, the Company changed its name to American Eagle Group, Inc. On October22, 2012, the Company changed its name to “Pacific Ventures Group, Inc.”.

 

The current structure of the Company resulted from a share exchange with Snöbar Holdings, Inc. (“Snöbar Holdings”), which was treated as a reverse merger for accounting purposes. On August 14, 2015, the Company entered into a share exchange agreement (the “Share Exchange Agreement”) with Snöbar Holdings, pursuant to which the Company acquired 100% of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B common stock in exchange for 22,500,000 restricted shares of the Company’s common stock, while simultaneously issuing 2,500,000 restricted shares of the Company’s common stock to certain other persons, including for services provided and to a former officer of the Company (the “Share Exchange”).

 

As the result of the Share Exchange, Snöbar Holdings became the Company’s wholly owned operating subsidiary and the business of Snöbar Holdings became the Company’s sole business operations and MAS Global Distributors, Inc., a California corporation (“MGD”), became an indirect subsidiary of the Company.

 

Prior to the Share Exchange, the Company operated as an insurance holding company and through its subsidiaries, which marketed and underwrote specialized property and casualty coverage in the general aviation insurance marketplace. However, in 1997, after selling several of its divisions, the Company’s remaining insurance operations were placed into receivership and the Company ceased operating its insurance business.

 

Since the Share Exchange represents a change in control of the Company and a change in business operations, the business operations changed to that of Snöbar Holdings and the discussions of business operations accompanying this filing are solely that of Snöbar Holdings and its affiliates and subsidiaries comprising of Snöbar Trust, International Production Impex Corporation, a California corporation (“IPIC”), and MGD.

 

Snöbar Holdings was formed under the laws of the State of Delaware on January 7, 2013. Snöbar Holdings is the trustor and sole beneficiary of Snöbar Trust, a California trust (“Trust”), which was formed in June 1, 2013. The current trustee that holds legal title to the Trust is Azita Davidiyan. The Trust owns 100% of the shares of IPIC, which was formed on August 2, 2001. IPIC is in the business of selling alcohol-infused ice cream and ice-pops, and holds all of the rights to the liquor licenses to sell such products and trade names “Snöbar”. As such, the Trust holds all ownership interest of IPIC and its liquor licenses, permitting IPIC to sell its product to distributors, with all income, expense, gains and losses rolling up to the Trust, of which Snöbar Holdings is the sole beneficiary. Snöbar Holdings also owns 99.9% of the shares of MGD. MGD is in the business of selling and leasing freezers and providing marketing services. As a result of the foregoing, Snöbar Holdings is the primary beneficiary of all assets, liabilities and any income received from the business of the Trust and IPIC through the Trust and is the parent company of MGD.

 

The Trust and IPIC are considered variable interest entities (“VIEs”) and Snöbar Holdings is identified as the primary beneficiary of the Trust and IPIC. Under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Snöbar Holdings performs ongoing reassessments of whether it is the primary beneficiary of a VIE. As the assessment of Snöbar Holdings’ management is that Snöbar Holdings has the power to direct the activities of a VIE that most significantly impact the VIE’s activities (it is responsible for establishing and operating IPIC), and the obligation to absorb losses of the VIE that could potentially be significant to the VIE and the right to receive benefits from the VIE that could potentially be significant to the VIE’s economic performance, it was therefore concluded by management that Snöbar Holdings is the primary beneficiary of the Trust and IPIC. As such, the Trust and IPIC were consolidated in the financial statements of Snöbar Holdings since the inception of the Trust, in the case of the Trust, and since the inception of Snöbar Holdings, in the case of IPIC.

  

Principles of Consolidation

 

The consolidated financial statements include the accounts of the Company, Snöbar Holdings and its subsidiaries, in which Snöbar Holdings has a controlling voting interest and entities consolidated under the variable interest entities (“VIE”) provisions of ASC 810, “Consolidation” (“ASC 810”). Inter-company balances and transactions have been eliminated upon consolidation.

 

The Company applies the provisions of ASC 810 which provides a framework for identifying VIEs and determining when a company should include the assets, liabilities, non-controlling interests and results of activities of a VIE in its consolidated financial statements.

 

In general, a VIE is a corporation, partnership, limited-liability corporation, trust, or any other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that is unable to make significant decisions about its activities, (3) has a group of equity owners that does not have the obligation to absorb losses or the right to receive returns generated by its operations or (4) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both and substantially all of the entity’s activities (for example, providing financing or buying assets) either involve or are conducted on behalf of an investor that has disproportionately fewer voting rights.

 

ASC 810 requires a VIE to be consolidated by the party with an ownership, contractual or other financial interest in the VIE (a variable interest holder) that has both of the following characteristics: a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE.

 

A variable interest holder that consolidates the VIE is called the primary beneficiary. If the primary beneficiary of a variable interest entity (VIE) and the VIE are under common control, the primary beneficiary shall initially measure the assets, liabilities, and non-controlling interests of the VIE at amounts at which they are carried in the accounts of the reporting entity that controls the VIE (or would be carried if the reporting entity issued financial statements prepared in conformity with generally accepted accounting principles). ASC 810 also requires disclosures about VIEs in which the variable interest holder is not required to consolidate but in which it has a significant variable interest.

XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Principles of Consolidation

 

The consolidated financial statements include the Company, Snöbar Holdings, MGD, IPIC, and the Trust, which was established to hold IPIC, which in turn holds liquor licenses. All inter-company accounts have been eliminated during consolidation. See the discussion in Note 1 above for variable interest entity treatment of the Trust and IPIC.

 

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Revenue Recognition

 

Sales revenues are generally recognized in accordance with the SAB 104 Public Company Guidance, when an agreement exists and price is determinable, the products are shipped to the customers or services are rendered, net of discounts, returns and allowance and collectability is reasonably assured. We are often entitled to bill our customers and receive payment from our customers in advance of recognizing the revenue. In the instances in which we have received payment from our customers in advance of recognizing revenue, we include the amounts in deferred or unearned revenue on our consolidated balance sheet.

 

Unearned Revenue

 

Certain amounts are received pursuant to agreements or contracts and may only be used in the conduct of specified transactions or the related services are yet to be performed. These amounts are recorded as unearned or deferred revenue and are recognized as revenue in the year/period the related expenses are incurred or services are performed. As of June 30, 2018, the Company has $0 in deferred revenues.  As of December 31, 2017, the Company also had $0 deferred revenue.

 

Shipping and Handling Costs

 

The Company’s shipping costs are all recorded as operating expenses for all periods presented.

 

Disputed Liabilities

 

The Company is involved in a variety of disputes, claims, and proceedings concerning its business operations and certain liabilities. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.  As of June 30, 2018, the Company has $31,858 in disputed liabilities on its balance sheet.

 

In addition, on January 28, 2016, a labor dispute between IPIC and a former employee was ruled in favor of the former employee by the Labor Commissioner of the State of California.  This finding resulted in compensation expenses of $29,103 and an accrued liability of the same amount on IPIC book for the six months ended June 30, 2018.

 

Cash Equivalents

 

The Company considers highly liquid instruments with original maturity of six months or less to be cash equivalents. As of June 30, 2018, the Company has a cash balance of $146,583 in cash and cash equivalents, compared to $69 at December 31, 2017.

 

Accounts Receivable

 

As of June 30, 2018 the Company had $220,263 in Accounts Receivable. Accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based upon the level of past due accounts and the relationship with and financial status of our customers. The Company did not write off any bad debts during the six months ended June 30, 2018 and 2017, and thus has not set an allowance for doubtful accounts.

 

Inventories

 

Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials. As of June 30, 2018, the Company has $65,896 in inventories.

  

Income Taxes

 

Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

 

Net Income/(Loss) Per Common Share

 

Income/(loss) per share of common stock is calculated by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company has no potentially dilutive securities. Accordingly, basic and dilutive income/(loss) per common share are the same.

  

Property and Equipment

 

Property and equipment are carried at cost less accumulated depreciation and includes expenditures that substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are expensed as incurred. Upon sale or retirement of property and equipment, the cost and related accumulated depreciation are eliminated from the respective accounts and the resulting gain or loss is included in the results of operations. The Company provides for depreciation of property and equipment using the straight-line method over the estimated useful lives or the term of the lease, as appropriate. The estimated useful lives are as follows: vehicles, five years; office furniture and equipment, three to fifteen years; equipment, three years.

 

Fair Value of Financial Instruments

 

The carrying amounts of the Company’s financial instruments, which include cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to the short-term maturity of these instruments. The Company performed an independent valuation of San Diego Farmers Outlet (SDFO), in which it was determined that $950,000 if goodwill could be realized by the Company.

 

Concentration of Credit Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to limits of approximately $250,000. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts.

 

Critical Accounting Policies

 

The Company considers revenue recognition and the valuation of accounts receivable, allowance for doubtful accounts, and inventory and reserves as its significant accounting policies. Some of these policies require management to make estimates and assumptions that may affect the reported amounts in the Company’s financial statements.

 

Recent Accounting Pronouncements

 

In June 2009, the FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”).  Rules and interpretive releases of the Securities and Exchange Commission (the “SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.  Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements.  The ASC does change the way the guidance is organized and presented.

  

In April 2015, FASB issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”, to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-04, “Compensation – Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets”, which permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-05, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If such includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.

 

In April 2015, FASB issued ASU No. 2015-06, “Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions”, which specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted.

 

In June 2014, FASB issued ASU No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company’s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application is permitted with the first annual reporting period or interim period for which the entity’s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). Our company adopted this pronouncement.

 

In June 2014, FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition. 

 

In August 2014, the FASB issued ASU 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued).

 

All other newly issued accounting pronouncements which are not yet effective have been deemed either immaterial or not applicable.

 

We reviewed all other recently issued accounting pronouncements and determined these have no current applicability to the Company or their effect on the financial statements would not have been significant.

XML 18 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Going Concern
6 Months Ended
Jun. 30, 2018
Going Concern [Abstract]  
GOING CONCERN

3. GOING CONCERN

 

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As shown in the accompanying consolidated financial statements, the Company has incurred a net loss of $738,584 for the six months ended June 30, 2018, and has an accumulated deficit of $6,713,491 as of June 30, 2018.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. The Company is significantly dependent upon its ability, and will continue to attempt, to secure equity and/or additional debt financing. There are no assurances that the Company will be successful and without sufficient financing it would be unlikely for the Company to continue as a going concern.

 

The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited consolidated financial statements do not include any adjustments that might arise from this uncertainty.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Inventories
6 Months Ended
Jun. 30, 2018
Inventory Disclosure [Abstract]  
INVENTORIES

4. INVENTORIES

 

As of June 30, 2018, the Company has $65,896 in inventories. Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials.

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Property, Plant and Equipment
6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

5. PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment at June 30, 2018 and December 31, 2017, consisted of:

 

   June 30,
2018
   December 31,
2017
 
Computers  $11,788   $15,986 
Freezers   0    39,153 
Office Furniture   0    15,687 
Rugs   0    6,000 
Software - Accounting   0    2,901 
Telephone System   0    5,814 
Video Camera   218    1,528 
Building & Improvement   25,000    - 
Forklift 1   3,000    - 
Forklift 2   2,871    - 
Truck 2004 Hino 1   10,000      
Truck 2004 Hino 2   10,000      
Truck 2018 Hino 155 5347   30,181      
Truck 2018 Hino 155 5647   30,181      
Truck 2018 Hino 155 5680   30,181      
           
Accumulated Depreciation   (24,598)   (59,225)
           
Net Book Value  $128,821   $27,843 

 

Depreciation expense for the six months ended June 30, 2018 was $5,094.47compared to $1,997 for the same period of June 30, 2017.

XML 21 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Accrued Expense
6 Months Ended
Jun. 30, 2018
Payables and Accruals [Abstract]  
ACCRUED EXPENSE

6. ACCRUED EXPENSE

 

As of June 30, 2018, the Company had accrued expenses of $385,801 compared to $332,503, for the year-end December 31, 2017.

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Income Tax
6 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
INCOME TAX

7. INCOME TAX

 

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements.  Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
6 Months Ended
Jun. 30, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

8. RELATED PARTY TRANSACTIONS

 

The following table presents a summary of the Company’s promissory notes issued to related parties as of June 30, 2018:

 

Noteholder  Note
Amount
   Issuance
Date
  Unpaid
Amount
 
S. Masjedi  $150,000   12/10/2010  $122,692 
A. Masjedi   500,000   6/1/2013   215,653 
M. Shenkman   10,000   2/21/2012   10,000 
M. Shenkman   10,000   2/23/2012   10,000 
M. Shenkman   10,000   3/14/2013   6,000 
M. Shenkman (Entrust)   16,000   9/9/2014   16,000 
   $696,000      $380,345 

 

The following description represent note payable-related party transaction pre-Share Exchange that were assumed by the Company as a condition to the Share Exchange:

 

On February 21, 2012, Snöbar Holdings entered into an unsecured promissory note with Mr. Shenkman, who is Chairman of the Board of Directors and a shareholder of the Company. The note had a principal balance of $10,000 with an interest rate of 5% and is due on demand. The note’s maturity date has subsequently been extended to December 31, 2020. Interest against the note was extinguished in a subsequent extension of the term. The note had a principal balance of $10,000 as of June 30, 2018.

 

On February 23, 2012, Snöbar Holdings entered into a promissory note with Mr. Shenkman for $10,000, maturing in one year at an interest of 8%. The note has subsequently been extended to December 31, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note had an outstanding balance of $10,000 as of June 30, 2018.

 

On March 14, 2013, Snöbar Holdings entered into an unsecured promissory note with a Mr. Shenkman, the Company’s Chairman of the Board of Directors. The note had a principal balance of $10,000 with an interest rate of 5% and an original maturity date of March 14, 2014, subsequently extended to December 31, 2020 with a lower interest rate of 2%/year. Mr. Shenkman also agreed to make all interest retroactive and deferred. The note had an outstanding balance of $6,000 as of June 30, 2018.

 

On June 1, 2013, Snöbar Holdings entered into a promissory note with Azizolla Masjedi, father-in-law to Shannon Masjedi who’s the Company’s President, Chief Executive Officer, Interim Chief Financial Officer, director and majority stockholder, in an amount of $500,000 to purchase all the shares and interests of IPIC. The note matured on June 31, 2017. As of June 30, 2018, the outstanding balance under this note was $231,067, which includes interest and penalty charges. The current balance is $215,653.

 

On September 9, 2014, Snobar Holdings entered into a second unsecured promissory note with Mr. Shenkman, through his affiliate company Entrust Group for a total amount of $6,000 and a third unsecured promissory note for a total amount of $10,000, both at an annual interest rate of 2%. No term was provided for in each note, but Mr. Shenkman has agreed to a maturity date of December 31, 2020 and the accrual of interest rates and deferral to maturity. The notes had an aggregate outstanding balance of $16,000 as of June 30, 2018.

 

As of June 30, 2018, the Company had related party current and long-term notes payable of $283,343 and $42,000, respectively.

  

The following table presents a summary of the Company’s promissory notes issued to unrelated

 

    Note Amount     Issuance Date   Balance  
A. Rodriguez   $ 86,821     3/14/13   $ 86,821  
A. Rodriguez     15,000     7/22/13     15,000  
A. Rodriguez     10,000     2/21/14     10,000  
TRA Capital     106,112     3 loans     106,112  
BNA Inv     223,499     6 loans     223,499  
Morning View     35,000     10/26/2017     18,990  
Brian Berg     30,000     2/1/12     25,000  
Classic Bev     73,473     5/1/17     82,673  
Crown Bridge     33,000     2/22/18     33,000  
JSJ Investments     75,000     7/12/17     55,000  
PowerUp     119,000     7/25/17     37,919  
TCA Global Fund     1,750,000     5/1/2018     1,750,000  
Total   $ 2,556,905         $ 2,444,014  

 

The following description represent unrelated notes payable transactions pre-reverse merger between Snöbar and the Company that were assumed by the Company as a condition to the Share Exchange Agreement:

 

In February, 2012, MGD entered into an unsecured promissory note with a certain unrelated party, now a shareholder of the Company for a principal balance of $30,000 at in interest rate of 8% per year and maturity date of August 1, 2014. The note’s maturity date has been extended to December 31, 2020 and the interest rate under the extinguished as part of the extension. The note had an outstanding balance of $25,000 as of June 30, 2018.

 

On March 14, 2013, Snöbar Holdings entered into an unsecured promissory note with a certain unrelated third party, now a shareholder of the Company. The note had a principal balance of $86,821 with an interest rate of 5% and had a maturity date of March 14, 2014. The note’s maturity date has subsequently been extended to February 1, 2020. Interest under the note was extinguished in a subsequent extension of the term. The note is current and the entire balance is owed and outstanding as of June 30, 2018.

 

On July 22, 2013, Snöbar Holdings entered into an unsecured promissory note with a certain unrelated third party. The note had a principal balance of $15,000 with an original interest rate of 5%. On February 22, 2014 Snobar Holdings also entered into another note with the same party for $10,000. Maturity dates have been extended to December 31, 2018, and interest rates has been reduced to 2%, and lender agreed to make all interest retroactive and deferred. The balance of the note was $15,000 and $10,000 as of June 30, 2018.

 

In February 2014, MGD entered into a secured promissory note with a certain unrelated third party for $10,000. The note was secured by interests in tangible and intangible property of MGD. The Company is to make payments of $181 each business day (Monday through Friday) until the loan is paid off. The effective interest rate on the note is 137%. The outstanding balance of the note is $1,000 as of June 30, 2018.

 

On May 19, 2014, Snöbar Holdings entered into a secured convertible promissory note with a principal balance of $500,000. The note was secured by interests in cash, accounts receivable, other receivables, inventory, supplies, other assets of Snöbar Holdings including general intangibles and rights of each liquor license owned by Snöbar Trust. The note has an interest rate of 10% and an original maturity date of December 31, 2015. The Company was to make interest only payments beginning July 1, 2014. The lender determined Snöbar Holdings to be in default and on January 29, 2015, entered into a mutually agreed loan modification. The agreement increased the principal balance of the note as of December 31, 2014 to $527,333 and all interest due and payable was deemed to have been paid and the conversion rights of the note were removed. The modification also removed and deleted, in its entirety, all secured interests in cash, accounts receivable, other receivables, inventory, supplies, and other assets of Snöbar Holdings, including intangibles, and rights of each liquor license owned by Snöbar Trust. The maturity date was December 31, 2015 if Snöbar Holdings is not in default, the maturity date of the note should automatically be extended to December 31, 2016 (“First Extended Maturity Date”). Commencing on January 1, 2016, Snöbar Holdings was to make monthly payments of $15,000 until the First Extended Maturity Date. Assuming Snöbar Holdings was not in default with respect to its obligations as of the First Extended Maturity Date, the note would have automatically been extended to December 31, 2017 (“Second Extended Maturity Date”). Commencing on January 1, 2017, the monthly payments increased to $25,000 for every month until the Second Extended Maturity Date. All accrued but unpaid interest, charges and the remaining principal balance of the note was fully due and payable on the Second Extended Maturity Date. In January of 2016 the company decided to enter into renegotiation period for the repayment terms of the modification dated January 29, 2015. As a result of the renegotiation with the note holder.

  

The following description represents unrelated note payable transactions post-merger between Snöbar and the Company:

 

On February 13, 2017, the Company entered a settlement agreement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 restricted shares of the Company’s common stock and $200,000 in future cash payment comprising of $25,000 on June 30, 2017, $25,000 on June 30, 2018, $25,000 on June 30, 2019, and $125,000 on June 30, 2020. As of March 10, 2017, the Company issued to the creditor, 400,000 restricted shares of the Company’s common stock, and also paid the $25,000 for the required June 30, 2017 cash payment. The $25,000 payment due in 2018 was paid to JRSR26 on March 1, 2018. The balance of the note as of December 31, 2017 is $175,000. The current balance as of June 30, 2018 is $150,000.

 

Effective September 30, 2017, the Company entered into amended promissory notes with a certain unrelated third party in an amount of $272,500, one for $172,500, and four others for $50,000 each. All of the notes have an interest rate of 8% and had a maturity date of August 13, 2017, but have been extended to November 15, 2017 for a fee of $15,000. The notes had a principal outstanding balance of $348,601 as of June 30, 2018, including the $15,000 extension fee.

 

In late July, August, and September of 2017, the Company entered into a financing arrangements with Power Up Lending pursuant to which the Company borrowed a total principal of $129,000 secured by shares of the Company’s common stock. The notes were subect to a 6 month hold before any stock was issued. The current balance is $37,919.

 

On July 12, 2017, the issued a Convertible Promissory Note with a certain unrelated party JSJ for total gross proceeds of $75,000. The note was subject to a 6 month hold before any stock is converted. The note is convertible at any time after the issuance date, bears interest at 12% and matures on April 12, 2018. The current principal amount is $55,000. The company entered into an agreement to pay a principal amount of $40,000 plus a fee of $20,000 and issue one and only one common stock certificate of 631,000 shares. Subsequently JSJ voided the agreement and has filed a complaint.

On January 11, 2018, the Company issued a Convertible Redeemable Note with a certain unrelated party. for total gross proceeds of $30,000. The note bears an interest of 10% and matures on January 3, 2019. The current principal balance is $30,000.

 

On February 7, 2018, the Company issued a Convertible Promissory Note with a certain unrelated party. for total gross proceeds of $105,000. The note bears an interest of 2%. The Company received the first tranche of the note and has a current principal balance of $33,000 as of June 30, 2018.

 

Over the past year Classic Beverage has periodically issued loans to the Company. The Company has agreed to pay interest 10% per year and has agreed on penalty fees if late on payments. The note is due on demand. The current balance is $82,673.

 

On 2018, the company entered into a promissory note to pay off aged debt on the books of PACV. The amount was $56,066 and the total amount that has converted into stock during the first quarter is $37,184. The current principal balance as of June 30, 2018 is $18,882. That remaining balance converted into common stock in April of 2018.

 

On May 1, 2018, Pacific Ventures Group entered into a secured promissory note with TCA Global Fund for $1,750,000. The note was secured by interests in tangible and intangible property of Pacific Ventures Group. The Company is to make interest only payments of $24,462 for 2 month; $10,000 for the next 4 months; subsequent payments of $45,500 until the loan is paid off. The effective interest rate on the note is 16%. The outstanding balance of the note is $1,750,000 as of June 30, 2018.

 

As of June 30, 2018, the Company had total short-term notes payable of $840,536 and long-term notes payable of $1,832,279.

XML 24 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity
6 Months Ended
Jun. 30, 2018
Equity [Abstract]  
STOCKHOLDERS' EQUITY

9. STOCKHOLDERS’ EQUITY

 

Share Exchange

 

On August 14, 2015, Snöbar Holdings entered into the Share Exchange Agreement with the Company and Snöbar Holdings’ shareholders (the “Snöbar Shareholders”) who held of record (i) at least 99% and up to 100% of the total issued and outstanding shares of Class A Common Stock and (ii) 100% of the total issued and outstanding shares of Class B Common Stock, of Snöbar Holding. In accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B Common Stock from Snöbar Shareholders, with Snöbar Holdings becoming a wholly owned subsidiary of the Company, in exchange for the issuance to the Snöbar Shareholders of 22,500,000 shares of restricted common stock of the Company and the issuance of 2,500,000 restricted shares of the Company’s common stock to certain other persons (as set forth below).

 

The 2,500,000 restricted shares of the Company’s common stock were issued for the following: 600,000 shares were issued for services for a total of $326,900 of non-cash expenses; a former officer of the Company received 1,000,000 shares in exchange for his 1,000,000 shares of Series E Preferred Stock; and 900,000 shares were issued to extinguish $21,675 of debt due to a former officer and shareholder of the Company. 

 

Common Stock and Preferred Stock

 

The Company is authorized to issue up to 10,000,000 shares of its preferred stock, $0.001 par value per share. Effective as of October 2016, the Company designated 1,000,000 shares of preferred stock as Series E Preferred Stock (the “Series E Preferred Stock”). Under the rights, preferences and privileges of the Series E Preferred Stock, for every share of Series E Preferred Stock held, the holder thereof has the voting rights equal to 10 shares of common stock. The Series E Preferred Stock is not convertible into any class of stock of the Company and has no preferences to dividends or liquidation rights. As of June 30, 2018 and December 31, 2017, there were 1,000,000 shares of Series E Preferred Stock issued and outstanding.

 

From April 1, 2018 through June 30, 2018, the Company issued 46,370,509.00 shares of its common stock to various investors for services or debt conversion.

 

The Company is authorized to issue up to 100,000,000 shares of its common stock, $0.001 par value per share. Holders of common stock hold one vote per share. As of June 30, 2018, there were 82,626,293 shares of common stock issued and outstanding, respectively.

XML 25 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments, Contingencies and Uncertainties
6 Months Ended
Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS, CONTINGENCIES AND UNCERTAINTIES

10. COMMITMENTS, CONTINGENCIES AND UNCERTAINTIES

 

Operating Lease

 

The Company is currently obligated under two operating leases for office spaces and associated building expenses.  Both leases are on a month-to-month basis.

 

San Diego Farmers Outlet has a 5 years lease at $6,000 per month with two (5) year options to extend the lease.

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS

 

ASC 855-16-50-4 establishes accounting and disclosure requirements for subsequent events. ASC 855 details the period after the balance sheet date during which we should evaluate events or transactions that occur for potential recognition or disclosure in the financial statements, the circumstances under which we should recognize events or transactions occurring after the balance sheet date in its financial statements and the required disclosures for such events.

 

The Company has evaluated all subsequent events through the date these consolidated financial statements were issued, and determined the following are material to disclose.

 

On July 19, 2018 (the “Effective Date”), Pacific Ventures Group, Inc., a Delaware corporation (the “Corporation”), entered into a Series F Preferred Stock Recipient Agreement (“Preferred Stock Recipient Agreement”) with Ms. Shannon Masjedi (the “Series F Holder“, an officer, director and controlling shareholder of the Corporation), pursuant to which the Series F Holder was issued fifty thousand (50,000) shares out of fifty thousand (50,000) authorized shares of Series F Convertible Preferred Stock, par value $.001 per share (the “Series F Preferred Stock”). The Series F Holder was issued one (1) share of Series F Preferred Stock as consideration for such Series F Holder’s agreement to forgive $1.00 of the Corporation’s indebtedness to the Series F Holder. The total amount of Corporation indebtedness to the Series F Holder and forgiven by the Series F Holder amounted to $50,000, pursuant to the terms of the Preferred Stock Recipient Agreement, which agreement is incorporated by reference herein as Exhibit 10.1.

 

The Series F Preferred Stock has the rights, privileges, preferences and restrictions set forth in the Certificate of Designation (the “Certificate of Designation”) filed by the Corporation with the Secretary of State of the State of Delaware (“Delaware Secretary of State”) on July 25, 2018, as more fully described in Item 5.03 below. Each issued and outstanding share Series F Preferred Stock shall be entitled to the number of votes equal to the result of: (i) the number of shares of Common Stock of the Corporation issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series F Preferred Stock issued and outstanding at the time of such vote, at each meeting of shareholders of the Corporation with respect to any and all matters presented to the shareholders of the Corporation for their action or consideration, including the election of directors. Holders of Series F Preferred Stock shall vote together with the holders of Common Stock as a single class.

 

Each outstanding share of Series F Preferred Stock shall be convertible into the number of shares of the Corporation’s common stock (“Common Stock”) determined by dividing the Stated Value ($1.00 per share) by the Conversion Price as defined below, at the option of the Holder in whole or in part, at any time commencing no earlier than six (6) months after the Issuance Date; provided that any conversion under this section must be made during the ten (10) day period immediately following the date on which the Corporation files with the Securities and Exchange Commission any periodic report on form 10-Q, 10-K or the equivalent form; provided further that, any conversion under this Section IV(a) shall be for a minimum Stated Value of $500.00 of Series F Preferred Stock. The Conversion Price for each share of Series F Preferred Stock in effect on any Conversion Date shall be (a) eighty five percent (85%) of the average closing bid price of the Common Stock over the twenty (20) trading days immediately preceding the date of conversion, (b) but no less than Par Value of the Common Stock. For purposes of determining the closing bid price on any day, reference shall be to the closing bid price for a share of Common Stock on such date on the NASD OTC Bulletin Board, as reported on Bloomberg, L.P. (or similar organization or agency succeeding to its functions of reporting prices).

 

The foregoing description of the Preferred Stock Recipient Agreement is not intended to be complete and is qualified in its entirety by the complete text of the Form of a Preferred Stock Recipient Agreement.

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Principles of Consolidation

Principles of Consolidation

 

The consolidated financial statements include the Company, Snöbar Holdings, MGD, IPIC, and the Trust, which was established to hold IPIC, which in turn holds liquor licenses. All inter-company accounts have been eliminated during consolidation. See the discussion in Note 1 above for variable interest entity treatment of the Trust and IPIC.

Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition

 

Sales revenues are generally recognized in accordance with the SAB 104 Public Company Guidance, when an agreement exists and price is determinable, the products are shipped to the customers or services are rendered, net of discounts, returns and allowance and collectability is reasonably assured. We are often entitled to bill our customers and receive payment from our customers in advance of recognizing the revenue. In the instances in which we have received payment from our customers in advance of recognizing revenue, we include the amounts in deferred or unearned revenue on our consolidated balance sheet.

Unearned Revenue

Unearned Revenue

 

Certain amounts are received pursuant to agreements or contracts and may only be used in the conduct of specified transactions or the related services are yet to be performed. These amounts are recorded as unearned or deferred revenue and are recognized as revenue in the year/period the related expenses are incurred or services are performed. As of June 30, 2018, the Company has $0 in deferred revenues.  As of December 31, 2017, the Company also had $0 deferred revenue.

Shipping and Handling Costs

Shipping and Handling Costs

 

The Company’s shipping costs are all recorded as operating expenses for all periods presented.

Disputed Liabilities

Disputed Liabilities

 

The Company is involved in a variety of disputes, claims, and proceedings concerning its business operations and certain liabilities. We determine whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. We assess our potential liability by analyzing our litigation and regulatory matters using available information. We develop our views on estimated losses in consultation with outside counsel handling our defense in these matters, which involves an analysis of potential results, assuming a combination of litigation and settlement strategies. Should developments in any of these matters cause a change in our determination as to an unfavorable outcome and result in the need to recognize a material accrual, or should any of these matters result in a final adverse judgment or be settled for significant amounts, they could have a material adverse effect on our results of operations, cash flows and financial position in the period or periods in which such change in determination, judgment or settlement occurs.  As of June 30, 2018, the Company has $31,858 in disputed liabilities on its balance sheet.

 

In addition, on January 28, 2016, a labor dispute between IPIC and a former employee was ruled in favor of the former employee by the Labor Commissioner of the State of California.  This finding resulted in compensation expenses of $29,103 and an accrued liability of the same amount on IPIC book for the six months ended June 30, 2018.

Cash Equivalents

Cash Equivalents

 

The Company considers highly liquid instruments with original maturity of six months or less to be cash equivalents. As of June 30, 2018, the Company has a cash balance of $146,583 in cash and cash equivalents, compared to $69 at December 31, 2017.

Accounts Receivable

Accounts Receivable

 

As of June 30, 2018 the Company had $220,263 in Accounts Receivable. Accounts receivable are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts. The allowance is calculated based upon the level of past due accounts and the relationship with and financial status of our customers. The Company did not write off any bad debts during the six months ended June 30, 2018 and 2017, and thus has not set an allowance for doubtful accounts.

Inventories

Inventories

 

Inventories are stated at the lower of cost or market value. Cost has been determined using the first-in, first-out method. Inventory quantities on-hand are regularly reviewed, and where necessary, reserves for excess and unusable inventories are recorded. Inventory consists of finished goods and includes ice cream, popsicles and the related packaging materials. As of June 30, 2018, the Company has $65,896 in inventories.

Income Taxes

Income Taxes

 

Deferred taxes are provided on an asset and liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the difference between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Net Income/(Loss) Per Common Share

Net Income/(Loss) Per Common Share

 

Income/(loss) per share of common stock is calculated by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding during the period. The Company has no potentially dilutive securities. Accordingly, basic and dilutive income/(loss) per common share are the same.

Property and Equipment

Property and Equipment

 

Property and equipment are carried at cost less accumulated depreciation and includes expenditures that substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are expensed as incurred. Upon sale or retirement of property and equipment, the cost and related accumulated depreciation are eliminated from the respective accounts and the resulting gain or loss is included in the results of operations. The Company provides for depreciation of property and equipment using the straight-line method over the estimated useful lives or the term of the lease, as appropriate. The estimated useful lives are as follows: vehicles, five years; office furniture and equipment, three to fifteen years; equipment, three years.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

 

The carrying amounts of the Company’s financial instruments, which include cash, accounts receivable, accounts payable, and accrued expenses are representative of their fair values due to the short-term maturity of these instruments. The Company performed an independent valuation of San Diego Farmers Outlet (SDFO), in which it was determined that $950,000 if goodwill could be realized by the Company.

Concentration of Credit Risk

Concentration of Credit Risk

 

Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and accounts receivable. The Company maintains cash balances at financial institutions within the United States which are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to limits of approximately $250,000. The Company has not experienced any losses with regard to its bank accounts and believes it is not exposed to any risk of loss on its cash bank accounts.

Critical Accounting Policies

Critical Accounting Policies

 

The Company considers revenue recognition and the valuation of accounts receivable, allowance for doubtful accounts, and inventory and reserves as its significant accounting policies. Some of these policies require management to make estimates and assumptions that may affect the reported amounts in the Company’s financial statements.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

In June 2009, the FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”).  Rules and interpretive releases of the Securities and Exchange Commission (the “SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.  Existing GAAP was not intended to be changed as a result of the Codification, and accordingly the change did not impact our financial statements.  The ASC does change the way the guidance is organized and presented.

  

In April 2015, FASB issued Accounting Standards Update (“ASU”) No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”, to simplify presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The ASU does not affect the recognition and measurement guidance for debt issuance costs. For public companies, the ASU is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-04, “Compensation – Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets”, which permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity’s fiscal year-end and apply that practical expedient consistently from year to year. The ASU is effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted.

 

In April 2015, FASB issued ASU No. 2015-05, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”, which provides guidance to customers about whether a cloud computing arrangement includes a software license. If such includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If the arrangement does not include a software license, the customer should account for it as a service contract. For public business entities, the ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early application is permitted. We are currently reviewing the provisions of this ASU to determine if there will be any impact on our results of operations, cash flows or financial condition.

 

In April 2015, FASB issued ASU No. 2015-06, “Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions”, which specifies that, for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a drop down transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method also are required. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted.

 

In June 2014, FASB issued ASU No. 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The update removes all incremental financial reporting requirements from GAAP for development stage entities, including the removal of Topic 915 from the FASB Accounting Standards Codification. In addition, the update adds an example disclosure in Risks and Uncertainties (Topic 275) to illustrate one way that an entity that has not begun planned principal operations could provide information about the risks and uncertainties related to the company’s current activities. Furthermore, the update removes an exception provided to development stage entities in Consolidations (Topic 810) for determining whether an entity is a variable interest entity-which may change the consolidation analysis, consolidation decision, and disclosure requirements for a company that has an interest in a company in the development stage. The update is effective for the annual reporting periods beginning after December 15, 2014, including interim periods therein. Early application is permitted with the first annual reporting period or interim period for which the entity’s financial statements have not yet been issued (Public business entities) or made available for issuance (other entities). Our company adopted this pronouncement.

 

In June 2014, FASB issued ASU No. 2014-12, “Compensation – Stock Compensation (Topic 718); Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period”. The amendments in this ASU apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to awards with performance conditions that affect vesting to account for such awards. For all entities, the amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this ASU either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This updated guidance is not expected to have a material impact on our results of operations, cash flows or financial condition. 

 

In August 2014, the FASB issued ASU 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued).

 

All other newly issued accounting pronouncements which are not yet effective have been deemed either immaterial or not applicable.

 

We reviewed all other recently issued accounting pronouncements and determined these have no current applicability to the Company or their effect on the financial statements would not have been significant.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Property, Plant and Equipment (Tables)
6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Schedule of property, plant and equipment

   June 30,
2018
   December 31,
2017
 
Computers  $11,788   $15,986 
Freezers   0    39,153 
Office Furniture   0    15,687 
Rugs   0    6,000 
Software - Accounting   0    2,901 
Telephone System   0    5,814 
Video Camera   218    1,528 
Building & Improvement   25,000    - 
Forklift 1   3,000    - 
Forklift 2   2,871    - 
Truck 2004 Hino 1   10,000      
Truck 2004 Hino 2   10,000      
Truck 2018 Hino 155 5347   30,181      
Truck 2018 Hino 155 5647   30,181      
Truck 2018 Hino 155 5680   30,181      
           
Accumulated Depreciation   (24,598)   (59,225)
           
Net Book Value  $128,821   $27,843 
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Tables)
6 Months Ended
Jun. 30, 2018
Related Party Transactions [Abstract]  
Schedule of promissory notes issued to related parties
Noteholder  Note
Amount
   Issuance
Date
  Unpaid
Amount
 
S. Masjedi  $150,000   12/10/2010  $122,692 
A. Masjedi   500,000   6/1/2013   215,653 
M. Shenkman   10,000   2/21/2012   10,000 
M. Shenkman   10,000   2/23/2012   10,000 
M. Shenkman   10,000   3/14/2013   6,000 
M. Shenkman (Entrust)   16,000   9/9/2014   16,000 
   $696,000      $380,345 
Schedule of promissory notes issued to unrelated third parties
    Note Amount     Issuance Date   Balance  
A. Rodriguez   $ 86,821     3/14/13   $ 86,821  
A. Rodriguez     15,000     7/22/13     15,000  
A. Rodriguez     10,000     2/21/14     10,000  
TRA Capital     106,112     3 loans     106,112  
BNA Inv     223,499     6 loans     223,499  
Morning View     35,000     10/26/2017     18,990  
Brian Berg     30,000     2/1/12     25,000  
Classic Bev     73,473     5/1/17     82,673  
Crown Bridge     33,000     2/22/18     33,000  
JSJ Investments     75,000     7/12/17     55,000  
PowerUp     119,000     7/25/17     37,919  
TCA Global Fund     1,750,000     5/1/2018     1,750,000  
Total   $ 2,556,905         $ 2,444,014  
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Nature of Operations (Details) - shares
Aug. 14, 2015
Aug. 02, 2001
IPIC [Member]    
Nature of Operations (Textual)    
Percentage of ownership shares   100.00%
MGD [Member]    
Nature of Operations (Textual)    
Percentage of ownership shares   99.90%
Snobar Holdings [Member] | Share Exchange Agreement [Member]    
Nature of Operations (Textual)    
Pacific ventures acquired percentage 100.00%  
Exchange for restricted shares of pacific ventures' common stock 22,500,000  
Issuing shares of pacific ventures restricted common stock to certain other persons 2,500,000  
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Details) - USD ($)
6 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Jun. 30, 2017
Dec. 31, 2016
Summary of Significant Accounting Policies (Textual)        
Deferred revenue $ 0 $ 0    
Disputed liabilities 31,858      
Compensation expenses 29,103      
Cash and cash equivalents 146,583 69 $ (85) $ 25,284
Inventories 65,896    
Federal Deposit Insurance Corporation (FDIC), amount 250,000      
Accounts receivable 220,263 $ 6,589    
Goodwill $ 950,000      
Vehicles [Member]        
Summary of Significant Accounting Policies (Textual)        
Property and equipment, estimated useful lives or term of lease 5 years      
Equipment [Member]        
Summary of Significant Accounting Policies (Textual)        
Property and equipment, estimated useful lives or term of lease 3 years      
Office furniture and equipment [Member] | Minimum [Member]        
Summary of Significant Accounting Policies (Textual)        
Property and equipment, estimated useful lives or term of lease 3 years      
Office furniture and equipment [Member] | Maximum [Member]        
Summary of Significant Accounting Policies (Textual)        
Property and equipment, estimated useful lives or term of lease 15 years      
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Going Concern (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Going Concern (Textual)          
Net loss $ (258,448) $ (128,719) $ (738,584) $ (244,014)  
Accumulated deficit $ (6,713,491)   $ (6,713,491)   $ (5,970,024)
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Inventories (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Inventories (Textual)    
Inventories $ 65,896
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Property, Plant and Equipment (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Property, Plant and Equipment [Abstract]    
Computers $ 11,788 $ 15,986
Freezers 0 39,153
Office Furniture 0 15,687
Rugs 0 6,000
Software - Accounting 0 2,901
Telephone System 0 5,814
Video Camera 218 1,528
Building & Improvement 25,000
Forklift 1 3,000
Forklift 2 2,871
Truck 2004 Hino 1 10,000
Truck 2004 Hino 2 10,000
Truck 2018 Hino 155 5347 30,181
Truck 2018 Hino 155 5647 30,181
Truck 2018 Hino 155 5680 30,181
Accumulated Depreciation (24,598) (59,225)
Net Book Value $ 128,821 $ 27,843
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Property, Plant and Equipment (Details Textual) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Property, Plant and Equipment (Textual)    
Depreciation expense $ (34,628) $ 1,997
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Accrued Expense (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Accrued Expense (Textual)    
Accrued expenses $ 385,801 $ 332,503
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details)
6 Months Ended
Jun. 30, 2018
USD ($)
Note Amount $ 696,000
Unpaid Amount $ 380,345
S. Masjedi [Member]  
Noteholder S. Masjedi
Note Amount $ 150,000
Issuance Date Dec. 10, 2010
Unpaid Amount $ 122,692
A. Masjedi [Member]  
Noteholder A. Masjedi
Note Amount $ 500,000
Issuance Date Jun. 01, 2013
Unpaid Amount $ 215,653
M. Shenkman [Member]  
Noteholder M. Shenkman
Note Amount $ 10,000
Issuance Date Feb. 21, 2012
Unpaid Amount $ 10,000
M. Shenkman [Member]  
Noteholder M. Shenkman
Note Amount $ 10,000
Issuance Date Feb. 23, 2012
Unpaid Amount $ 10,000
M. Shenkman [Member]  
Noteholder M. Shenkman
Note Amount $ 10,000
Issuance Date Mar. 14, 2013
Unpaid Amount $ 6,000
M. Shenkman (Entrust) [Member]  
Noteholder M. Shenkman
Note Amount $ 16,000
Issuance Date Sep. 09, 2014
Unpaid Amount $ 16,000
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details 1)
6 Months Ended
Jun. 30, 2018
USD ($)
Note Amount $ 2,556,905
Balance 2,444,014
A. Rodriguez [Member]  
Note Amount $ 86,821
Issuance Date Mar. 14, 2013
Balance $ 86,821
A. Rodriguez [Member]  
Note Amount $ 15,000
Issuance Date Jul. 22, 2013
Balance $ 15,000
A. Rodriguez [Member]  
Note Amount $ 10,000
Issuance Date Feb. 21, 2014
Balance $ 10,000
TRA Capital [Member]  
Note Amount 106,112
Balance $ 106,112
Number of loans issuance date, description 3 loans
BNA Inv [Member]  
Note Amount $ 223,499
Balance $ 223,499
Number of loans issuance date, description 6 loans
Morning View [Member]  
Note Amount $ 35,000
Issuance Date Oct. 26, 2017
Balance $ 18,990
Brian Berg [Member]  
Note Amount $ 30,000
Issuance Date Feb. 01, 2012
Balance $ 25,000
Classic Bev [Member]  
Note Amount $ 73,473
Issuance Date May 01, 2017
Balance $ 82,673
Crown Bridge [Member]  
Note Amount $ 33,000
Issuance Date Feb. 22, 2018
Balance $ 33,000
JSJ Investments [Member]  
Note Amount $ 75,000
Issuance Date Jul. 12, 2017
Balance $ 55,000
PowerUp [Member]  
Note Amount $ 119,000
Issuance Date Jul. 25, 2017
Balance $ 37,919
TCA Global Fund [Member]  
Note Amount $ 1,750,000
Issuance Date May 01, 2018
Balance $ 1,750,000
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details Textual) - USD ($)
1 Months Ended 6 Months Ended
May 01, 2018
Feb. 07, 2018
Jan. 11, 2018
Jul. 12, 2017
Sep. 09, 2014
Jun. 01, 2013
Mar. 14, 2013
Feb. 23, 2012
Feb. 21, 2012
Sep. 30, 2017
May 19, 2014
Feb. 28, 2014
Jul. 22, 2013
Feb. 13, 2013
Feb. 29, 2012
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2014
Feb. 22, 2014
Related Party Transactions (Textual)                                        
Long-term notes payable                               $ 42,000   $ 42,000    
Current notes payable                               283,343   $ 353,759    
Proceeds from convertible promissory note, gross                               224,096 $ 412,333      
Long-term notes payable                               1,832,279        
Short-term notes payable                               840,536        
Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                                       $ 10,000
January 1, 2017 [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Payment of loan                               $ 25,000        
January 1, 2016 [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Maturity, term                               The maturity date of the note should automatically be extended to December 31, 2016 (“First Extended Maturity Date”). Commencing on January 1, 2016, Snöbar Holdings was to make monthly payments of $15,000 until the First Extended Maturity Date.        
Snobar Holdings Two [Member]                                        
Related Party Transactions (Textual)                                        
Shareholder increase principal amount                                     $ 527,333  
TCA Global Fund [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                               $ 1,750,000        
Proceeds from convertible promissory note, gross $ 1,750,000                                      
Secured interest payments, description The note was secured by interests in tangible and intangible property of Pacific Ventures Group. The Company is to make interest only payments of $24,462 for 2 month; $10,000 for the next 4 months; subsequent payments of $45,500 until the loan is paid off. The effective interest rate on the note is 16%.                                      
Convertible Promissory Note [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                               33,000        
Interest rate   2.00%                                    
Proceeds from certain unrelated party, gross   $ 105,000                                    
Convertible Promissory Note [Member] | JSJ [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance       $ 75,000                       55,000        
Interest rate       12.00%                                
Maturity date       Apr. 12, 2018                                
Fee amount       $ 20,000                                
Agreement to pay a principal amount       $ 40,000                                
Common stock certificate, share       631,000                                
Convertible Redeemable Note [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance     $ 30,000                                  
Interest rate     10.00%                                  
Maturity date     Jan. 03, 2019                                  
Proceeds from certain unrelated party, gross     $ 30,000                                  
Unsecured promissory note two [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance             $ 10,000                          
Interest rate             5.00%                          
Maturity, term             Original maturity date of March 14, 2014, subsequently extended to December 31, 2020 with a lower interest rate of 2%/year.                          
Unpaid outstanding amount                               6,000        
Unsecured promissory note [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                 $ 10,000                      
Interest rate                 5.00%                      
Maturity date                 Dec. 31, 2020                      
Unpaid outstanding amount                               10,000        
Unsecured promissory note one [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance               $ 10,000                        
Interest rate               8.00%                        
Maturity date               Dec. 31, 2020                        
Unpaid outstanding amount                               10,000        
Promissory note [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance           $ 500,000                            
Maturity, term          

The note matured on June 31, 2017.

                           
Unpaid outstanding amount                               231,067        
Long-term notes payable                               215,653        
Unsecured promissory note three [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance         $ 10,000                              
Interest rate         2.00%                              
Unsecured promissory note three [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance         $ 6,000                              
Interest rate         2.00%                              
Maturity date         Dec. 31, 2020                              
Unpaid outstanding amount                               16,000        
PACV [Member]                                        
Related Party Transactions (Textual)                                        
Amount of converted into stock                               56,066        
PACV [Member] | Promissory note [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                               18,882        
Amount of converted into stock                               37,184        
Promissory Notes [Member | Unrelated Third Party Two [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                   $ 172,500                    
Interest rate                   8.00%                    
Maturity date                   Aug. 13, 2017                    
Promissory Notes [Member | Unrelated Third Party Three [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                   $ 50,000                    
Interest rate                   8.00%                    
Maturity date                   Aug. 13, 2017                    
Promissory Notes [Member | Unrelated Third Party One [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                   $ 272,500           348,601        
Interest rate                   8.00%                    
Maturity date                   Aug. 13, 2017                    
Maturity, term                   Extended to November 15, 2017 for a fee of $15,000.                    
Extension fee                               15,000        
Financing Arrangement [Member]                                        
Related Party Transactions (Textual)                                        
Unpaid outstanding amount                               37,919        
Financing Arrangement [Member] | July, August, and September of 2017 [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                               129,000        
Secured Convertible Promissory Note [Member] | Snobar Holdings Two [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                     $ 500,000                  
Interest rate                     10.00%                  
Maturity date                     Dec. 31, 2015                  
Unsecured Promissory Note [Member] | Snobar Holdings [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance             $ 86,821           $ 15,000     10,000        
Interest rate             5.00%           5.00%              
Maturity date             Mar. 14, 2014           Dec. 31, 2018              
Maturity, term             Maturity date has subsequently been extended to February 1, 2020.           Maturity dates have been extended to December 31, 2018.              
Current notes payable                               15,000        
Reduce interest rate                         2.00%              
Unsecured Promissory Note [Member] | MGD One [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                       $ 10,000                
Interest rate                       137.00%                
Unpaid outstanding amount                               1,000        
Payment of loan                       $ 181                
Unsecured Promissory Note [Member] | MGD [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                             $ 30,000          
Interest rate                             8.00%          
Maturity date                             Aug. 01, 2014          
Maturity, term                             Maturity date has been extended to December 31, 2020.          
Unpaid outstanding amount                               25,000        
Settlement Agreement [Member] | Snobar Holdings Two [Member]                                        
Related Party Transactions (Textual)                                        
Unpaid outstanding amount                               150,000        
Unrelated note payable transactions, description                           The Company entered a settlement agreement with one of its creditors for $527,333 of its long-term notes payable. The agreement called for issuance of 400,000 restricted shares of the Company’s common stock and $200,000 in future cash payment comprising of $25,000 on June 30, 2017, $25,000 on June 30, 2018, $25,000 on June 30, 2019, and $125,000 on June 30, 2020. As of March 10, 2017, the Company issued to the creditor, 400,000 restricted shares of the Company’s common stock, and also paid the $25,000 for the required June 30, 2017 cash payment. The $25,000 payment due in 2018 was paid to JRSR26 on March 1, 2018. The balance of the note as of December 31, 2017 is $175,000.            
Classic Beverage [Member]                                        
Related Party Transactions (Textual)                                        
Principal balance                               $ 82,673        
Interest rate                               10.00%        
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Stockholders' Equity (Details) - $ / shares
6 Months Ended 25 Months Ended
Aug. 14, 2015
Jun. 30, 2018
Oct. 31, 2018
Dec. 31, 2017
Oct. 31, 2016
Stockholders' Equity (Textual)          
Preferred stock, par value   $ 0.001   $ 0.001  
Preferred stock, shares authorized   10,000,000   10,000,000  
Series E preferred stock, shares issued   1,000,000   1,000,000  
Series E preferred stock, shares outstanding   1,000,000   1,000,000  
Common stock voting rights, description  

Holders of common stock hold one vote per share.

     
Common stock, par value   $ 0.001   $ 0.001  
Common stock, shares authorized   100,000,000   100,000,000  
Common stock, shares issued   82,626,293   36,430,248  
Common stock, shares outstanding   82,626,293   36,430,248  
Series E Preferred Stock [Member]          
Stockholders' Equity (Textual)          
Preferred stock shares, designated         1,000,000
Preferred stock voting rights, description    

The voting rights equal to 10 shares of common stock.

   
Share Exchange Agreement [Member]          
Stockholders' Equity (Textual)          
Share exchange agreement, description

(i) at least 99% and up to 100% of the total issued and outstanding shares of Class A Common Stock and (ii) 100% of the total issued and outstanding shares of Class B Common Stock, of Snöbar Holding. In accordance with the terms and provisions of the Share Exchange Agreement, the Company acquired all of the issued and outstanding shares of Snöbar Holdings’ Class A and Class B Common Stock from Snöbar Shareholders, with Snöbar Holdings becoming a wholly owned subsidiary of the Company, in exchange for the issuance to the Snöbar Shareholders of 22,500,000 shares of restricted common stock of the Company and the issuance of 2,500,000 restricted shares of the Company’s common stock to certain other persons.

       
Common stock conversions, description

The 2,500,000 restricted shares of the Company’s common stock were issued for the following: 600,000 shares were issued for services for a total of $326,900 of non-cash expenses; a former officer of the Company received 1,000,000 shares in exchange for his 1,000,000 shares of Series E Preferred Stock; and 900,000 shares were issued to extinguish $21,675 of debt due to a former officer and shareholder of the Company.

       
Investor [Member]          
Stockholders' Equity (Textual)          
Common stock, shares issued   46,370,509.00      
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments, Contingencies and Uncertainties (Details)
6 Months Ended
Jun. 30, 2018
Commitments, Contingencies and Uncertainties (Textual)  
Number of operating leases 2
Operating lease, description San Diego Farmers Outlet has a 5 years lease at $6,000 per month with two (5) year options to extend the lease.
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events (Details) - Subsequent Event [Member] - Series F Preferred Stock [Member]
1 Months Ended
Jul. 19, 2018
Subsequent Events (Textual)  
Description of convertible common stock The number of shares of the Corporation’s common stock (“Common Stock”) determined by dividing the Stated Value ($1.00 per share) by the Conversion Price as defined below, at the option of the Holder in whole or in part, at any time commencing no earlier than six (6) months after the Issuance Date; provided that any conversion under this section must be made during the ten (10) day period immediately following the date on which the Corporation files with the Securities and Exchange Commission any periodic report on form 10-Q, 10-K or the equivalent form; provided further that, any conversion under this Section IV(a) shall be for a minimum Stated Value of $500.00 of Series F Preferred Stock. The Conversion Price for each share of Series F Preferred Stock in effect on any Conversion Date shall be (a) eighty five percent (85%) of the average closing bid price of the Common Stock over the twenty (20) trading days immediately preceding the date of conversion, (b) but no less than Par Value of the Common Stock.
Preferred stock issued and outstanding votes, description (i) the number of shares of Common Stock of the Corporation issued and outstanding at the time of such vote multiplied by 1.01; divided by (ii) the total number of Series F Preferred Stock issued and outstanding at the time of such vote, at each meeting of shareholders of the Corporation with respect to any and all matters presented to the shareholders of the Corporation for their action or consideration, including the election of directors. Holders of Series F Preferred Stock shall vote together with the holders of Common Stock as a single class.
Ms. Shannon Masjedi [Member]  
Subsequent Events (Textual)  
Stock recipient agreement, description Pursuant to which the Series F Holder was issued fifty thousand (50,000) shares out of fifty thousand (50,000) authorized shares of Series F Convertible Preferred Stock, par value $.001 per share (the “Series F Preferred Stock”). The Series F Holder was issued one (1) share of Series F Preferred Stock as consideration for such Series F Holder’s agreement to forgive $1.00 of the Corporation’s indebtedness to the Series F Holder. The total amount of Corporation indebtedness to the Series F Holder and forgiven by the Series F Holder amounted to $50,000, pursuant to the terms of the Preferred Stock Recipient Agreement.
EXCEL 43 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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

$*?(^PIANA$GX0T4(A-)@_S ^.!YQQFE' G[,GI&2K_J[PQ.TR32X M>$^5_LJXO <,]*LC5",M88^ELE3R;)2[39EAA?Y,GJXI$6WK#.16XG;[7JS!R_XKYA ]U4 MTF3N*/J+W%FXQ3G29-S],@%==[;V+%5.5YLSR<%H,C'VULT*:Z9.OK3-RU 0 MSK(9F7F> 6WP4.\C=L+-*"@>U!^GYVW&99JX)I=DS@XT"@"70"N6;&^ M6]VOYQY\-*<'Z8_WMPF/B\!#%F32@2LB@QQ5HV='V91DET;28^6:F3!]5H/+ M:K67 1GCO] ZM@!)!?57FUL4_1ME?0EER/<>G;R,XD1)>BC*!JC64<8A>N,! MGT#XK1(L("$5(E@H3+_B[Q+LN*[$V.&V[(ON_B*(#H :MB.P>:Q M8B=JK%- Y$4,K&999=-Y6L,64L.FOR8/" 7E;EMP#$,C6W5/ M4OH,)0=&6F#!4 8@:P : ERPNETQ.LP\\8T!S^ #4K,%%I?FE/!*TCD?W*SV M98A5V_UFN>(WV(#87X9K!9*1P:1GG= "\+#3+Z&+(4*:O85H +%!$ 4H.B(\ M.HM6+(%&"PPPF6>_2@QF3K>:;%GD(Q075B2*CS#'F8<*NB[*+<./6=:G$-^. M'=2WCLH794+I43RJ/$80F[I40CK'1,2ODNQP0E75#I;FH&WC!GO19;HR8<[K M=5K:E$\*L-7'B$"[!K-1.4^!R(\?RQ\2]!<*'YXIP4$ND_DCJ;?N6=-6$XEI MSFW:JHLH#*+P_3P$CT"K^>VVQKGS(G TS3"]%]F#1CHB@@4BN(H$&$(#<=LTP4\UT3$\&>;GQAX9Z)P4H6/[;L>F'F=FV]Z'." MYNB<+89H4LY*4;R!H12H ^3%D^K69:I2)-D&U";2B[X@6Z^2.;F)2YM@2OR] M=>)8C$5BYU;BW0T1G-H9XJV_T=4-:9,?4!)&<\@#Y7.45D'/-)(LR[TW:XI. MB&TSCTZ9FQ0*<5+L#='ZX-P PSQYUON!"LZODB.CY\B;U>20Q5T M8LI-<&(:+[1C$ "^7@R:163$FXRM*F,CZI4P$8TCULB<6OBL15 M,8B#ZEZN]NB,?.6$=7AOL35L4J.AX?R5%*]XFJ\\-H8^0WAXEJ4/!<"S)$/R MU1ITX56T,SG[=+7K!'=RP,E0V3W)4\2=IFK-4OYDA$[;9)E3 M-+/E*\F^0643+CE,<9-5O[K#-+Z:1M/Y1!AHU+_4":2[9@^K&YKH/@]=XM B M!XHW/9L3)*WBU7*P/>,#%7-5T.Y7!8H<^(@ H_(Q%(+S!7^G.PD[? M#?FHVK@;5\4 _I%/4[82L7'.D%($LCH&<,/8;,_(?PU)X1W0S11) 8LZ,EPA M,6R4:(G 1Z,:DD>QBP@(O<$ +Y"9@@1@VKS3[8J]&N)+S^^E]#G ]?9KNUFA MBH51BAYAQ +'"@GR)XPT]2UAGJ-3EMV+)BC@V1NKOZO[Z9%QHJYH!N3*J8J(3X<6 M@:NFBP1#(]600JN 9>J+_[?30! ,PEZ!JW4Z^>@/6-(EO,@1QXLI083Z.2SZ-E M[3LJ])#)=X:]>GM?S0Z4.P#;SRS>A,WIP MW*,1 P:63E*!O2;Q\>70-=EY8I4%D.[2Q:7G-J1 $>2+BR0.2*YE-L03)/*. MB+@BCJN+$0("9%?T5W!,!4<%43C[2N8#?&.E/).PGG;*8\N?F'NN>TN",8#O M(49X52!FOW@'8 MCL/K_=BO@6&]!HK;7M6@CQKUN7-+6'TT. "4OL;8 )0.J"K8C$+; M 9R)B0+K3K#;H[0\$(LGHO J,T17+J"5:HP GDFE'GL;)+N!-LRQH1I551B- MN)S)L!*NBBG+N6^&\4.[G0&53,%[:2ZR-!H_YECTP8:NUL*MO7/!KS@T"LY% M0BR7%CZIA8]#<@R-QBN"7^/X^/\.R1M()_AI'>"6.P88:5HQ,OK?QDCSC1AY MX%-:*=14680,*CEQG3I+ASG%>;[W!18W*>Y7E$MLR; 9'?3W]I$,GXK/P)ZA MQQ804I_2%&O'9!*K<#HOUK.(JU-1J:&R1,;DU>:(Z]DVEMR@[J,>"L.QJBYP M8$H#3^W B1O8\\T +Y>M2 0C!3B3)W7#2T2Z\B!XRZB_F7?KG'FU3Z-4':\L MP?C+JM-GCC4&-B,N8#2ET.[J@U8]<]$8[-F+W$+7L(1/N(_$Y-F(I MH.FVNH7>F0VT/F4<3[+UI3ZTE_IRAJ48EVZX>B[V MIE0/AXU]C&3VBQU6X'^5V[S2Y. .$Q$LOJF9AM9PASPX 26_&%I=TH1-H.'G#44HPF/(BL*2O7:8+*B^]9;(0:!5U+W -K\)#&CFF MY7@1JSPP84*N20LMEYY/!_"J"8AH@HM^6KGMP(\4&R(9A'Z8/@ &S<(L2'_) M)?22 @J4FA\=[))UD'35Y!,*G/!3D=3D"6B[SDE4SRF64E-@O5A/ MR3%C62ORXAOY9G,1+;NXM;\X7]]E3U2M*)AVMK!9>R!$K$MDH.@K#J CA\T MTIQ^#0HPQ(.[CA'!%R"3Q7; LUW!@2 5VX:M:NJ5E\96SRS9(U)LT"#IF5"" M[!4;@1G7?M<\W[B>EQ&B:U%ZJ>'V_,BI(=:/S$\>%P+? $AP>1KDC(1%EJGJ MN1BOD[?]V'2+;2009?EK\I<3<2F6IFLQ$=6']F_5!7NT@8W/N( 6/FFK,JJN@?JL5@#XY*+ AC MC'+10K" 0TA.4)ZTV;&W2?F ]6*)4GQ$._@C.D-\WDULHL+HL(GH#=SA2.DZ M^9@291AB&18!6_3[0L+F@[Q(E2>C!VIGQ5Y$C?2L.*Y@CZ/BEKK)(',1[[VM MB9C03I76,>$,\H!7O%,O :N*M#SQU 6P-[9?VNVKVN2%61AOW^H1>>/%/T%/O76J<, M,]UTK_BEIX^2:LY#L0J*6!*JG5UX5::.!IJF*OJZQ%9[_U4AT)/JD!XT1#IC M92+R;XE=JW,#6O,BV46<=;U=]*XP5/AJ<%+-@B21 "L<%T"^8+"4P]TNAI=L M&+%Q9(R;>EYE&A0Y3:QWQ@%(*R\0."RQ-T+BMU)6(BT&BL%@Z7.X/5XG<1[: M*EEQ@DVQ%I'I(0B!C@W;/R@^!M_28/U[/@Y;5E#<&-OO+7K+WHQ+APFSJM"F M&E3RYJB[-&I9&91S*<+Y[*?:R*1A[%'VE.D6)^Q'FM$.]Q M7^:\!Y'P62R]O$T-[A\*S@FC3"IG%(7A#M HJCS;G 6IN(%D+XHS6O!#@68L M7B* S"DE4*U%2P\FM0K3J5JS8K%,$80]WU[.JA!/YSSQ7GU2J9EFITTYJ,!E M>-F!O: YCB1PNZB)9>*#DH( WBZX9ITDH5%X5F$YLNH3]T6QPA+[OJ%! N.; ME%)N:L#5=?<] ]K8C&:LB@:SX- 4YY_E6%@,R,02[RLK::^RA>(][D6,N=LL MTK1'0$B>6B?4HE>@=L<%&R561I8&5TH(,I>[D@15SQUOJ;>S@,(.O_0FO8C: MC1"85*OM11.VZ$V9C-1@AX68%.0).X>LS=H&W'GH8@A=N'R2 @7W[^)7L*CN M2U,=Z-0[8*R16X.WS7O.LZ7@&8T=7$BJ&XHVEN*W7 94E7'D?;=*383TC5Z4 M%=Z\#$A.Y_,4RPN'/G[#B?BT)$M9-DQ_$ +I*S*5RO$/=KC1U=QJ589\NW9E MK([N' :3>-4?62%5=>R>+ WD4_-L=7CE")^ZV7=IRZ)C(12G5G$D!#_:I?H1 MAO<"7'YN"Z$$$25!M(Z+*U,-S\DXKN*$Y(]J ::%92^P%@('JZF4_?,/S*3F M% V.3:=O2@H;VF9%?K4WCA6J4M5!G15$)K0WW M@,JR@HVYCDP<[ >MLN&ZW M7H16HX!*P#6'*RQB7I^<]EHDM8SP7/6>OQ2S:\7-7%[L=5N M;.:J'_\HX9>=Q)'K3SZB_=JKWK/]0IHY;39K/7'MD3"Q[6AT'!\<[W>F\9E: MJ@QBB1AVDF:/11KR,#X:C.+]DX$(GK5$0)!H,.^G?(4_Q$V 819MC.$B*+\* M3^<*,:[TG3:$1)K% 4]A'"70D; LJXNX)8Y#5>PT](02G8*C0KZWPI28%8?? M8+!5JG7MX/7W2"3<8BBLQ)96HY5@%#;=>BYJP8&IE@@%^\54WO44,ZDHUC&? MV5)_7M% 5[@-0W]5(%_GDL.BY^HB;\U&O$.D7VOCKBTP?E:$SEHR([F^7)RY MQPJQ!N1@[H<0$))&T+?AH@^+>^-5'>#B6&KY\[*&VCX,LF@X I,$_SLO44W% M(8Q$.^$ N)8&.H7X5Y-B>IEIZPM/ZRR2KTDY9TAOXC7*13/5''H('BJ3$ M58L[@.H[JC3_TB"Y7EYB9TNRR%,.NNDN=@*[O+VZ:2D[M0_2K7O:E@?;DM#= MF9X79AA^4R*E^>,2*:-O2:0T?V@B9?0-B91FFT3*EG9DE/@24VP6"WJ3'9Y1IV3KS\# M5?/NB9C>_;)*W8+.TJO%RM54O6 M;TM-%@U_02'S>\-;6,7O8L&@_CH^!C_.(A/C@_-IS)-?\-'_6AT$@\. M1N:*4W ^V12'QD;M8/^-XAI@<8&\ZTYUO-^]$P/ND/S&TZ3Y>/*/1. M7F!U"W@ EV:P;WX!\1V4B M_'6>W:^B032J_S2$>8^/!O 3=27$*/3]Z,<,V-Q 6E,W'@SK#V Q_,7!070P MVC]"0 Z.!^W/#U][?MS7YUT]&D&/VX\/3HZC75!63N+A\"#:-=A4[B,6-N"D M)3BGX7$,%!S^&A[%Q_NC8 @C&4-;ED&@B.IW ,^3_=[^45 N8!"?G!RY8;#< M@E->_$&.&G=/6\&?MW=,O>9,)[[Y8RXVLJF&X/CT].;+.=R4_W-]?CDYKS\^ M[)G:&]M0[5G4R+%"67%T#%C9'X25$T8C;-XTBBTT-)*RI9I"1[_BV^1K]Y-M MF=;IU>?SZ';\?^I/CI!GZ<.P!K?FKM0;Q'KQ'-U9X1J%9 ONU4*8.:Z[D4!L MZ@G$-F=8:PK?KXF.X"=(KF!X2M>FM- G)R(X[:6>%MD:FF^TL43F8IM:\]E; M\IL]_EIH[+A4_R'-W.64!PGD+>M@;L4YXNFFC'+FXY0/+>NCA&G$42AM=W$Q4S QDB57HH M^=B;RN#W!FMC2A56*I-I,QV^Y,LDFYD)YB57_TIG&7%,SF$<#-\/^N]A@#Z1 MYV%\>#(T8_>F-GX[?#_ MT; YH!_ F?]C(6@TOS7!6BOS'NBX?LAO6294?L[ MH]?>&;T?[/-DAXU7=LYS*B:_&PWH873R_@3?W9=_FW?1X0D_>1>-COOQ:/^@ M=BX@JTW+C+UQ-B^50*Z)K'L^O%^"J$!X?:_60(ON._6Q(/N$R\&RE S(BE-W M5'T+1_D^NLK-I_2NY,)( ^T/V=KP(0WZ'V+A+%:>9W4<8L?=Y](!$.EB@7;) MT\>8B,UK$'6:R-8#F(:;DQ1,%]7[X5+6PN VG M*24 \^ [EJ.Q; S57IREL*Z9&]W>$)L+3-9&5%]09R02O**BB5C(\JNSW]=8 MW+#?<]%H"::O5ZS.,*C@F.!C /":17R*L7$3\,A5S:3]-ABT&G&"@Q^]X>!? M/VTBPS)Y+. CP[EGPET9_U!@>T! ?X;'.[& M<]4-L_+?F'SXW7O.KPD0D -LL>0IN78IU3>9>TT#R!6=2+$)KZ[.]J=^N/'0 M_;YRO^-6C7_+?@,.DBAC!($Z0;/I7I;OS9-G!!@0]#P'U%76"8164<"TH<4U MM:=(L9@>^4IZ.C57N_XYF0LL2U8VPDC%;)YYK9]D@(K5C@9)"[BFPM1:&X MH5;+\:V=U&L)Q+LA#-8_/*H5HJ@;<*'"[A"SMS%8;8&'N[)=)34PT(C\P@V<&)UQ)C6-N6FYN#R1&]M#B"=C26ZQY16D"QX!SQ52_ M/[C?Y+^@Z\U)KB&++AJE=X=]:Q*36IWX4K DO[X6]XK101T"5DH4DH<'+-6P M:LN4L)K$O&1:T$>CT#VY&*0[_:'?!BN ML,Z<-_,_HRZLHH.N"9KI%=?EE&@\&)0NT M'X^.XI/!B;D]'1MIW_P)R"&PJB-1S0Y8Y3IV/YE;NN7OL"'WP6%\TC^@O_?W M]V/4@+91A51W9LJ M&:M8C.U1WRRB:<2&VSS=96RG]KQ1PS$2^= JC0E>)2MVGM2(ZO%WE(#$,C;Q MYAIAU [WS(DV:#O&:CNOR][V3,+U.#D\$+^1U@,@; "C2M^A[&4VR%YBS_[? ME;B;Q\D\LNM03?$M:JM0PM>$;1ZB<;JAF,WA[K]+E[4JXK=H6>9-BFQ6!5QN M)3D69>H+5L6SE 9I1OZV">&PI>'P?Q$-ZBC\UF*0F1EF2H34]XZMFYD$QP#P%*_1[4""$ZZV_2!F6.AM: M+8=J@')!!(6F_M.6(BQ=B/T.<[%N9YPF@"62"CN[Z42H0UIJ^%F[N /'PU&1V*^Z2#9_LOO M!B15=%-OH#:>IO2ZZJS'!3P>I(>5PJ[MZ-KOHZBF+!O7CRNJ']>&VH0N8H]_ MH=Q.\>C'U+QS3NDB_)ZX.8K[]F:Y+N14$[XSKW8&A;_;]I=TXF%/+.JE2*OW M84C]J&J6-C_%3RG/H/^*5:=%R\+,$Q]%GQ.'H\[4AXUF+,:Z= 8DUB802X18 M>(ZF5F20.$[JPY)@_CBQ!Z_<_XFF1M?09K'&SD^8*LCD"&^ 601)M!1&;5LN M:756VZ6PB4H6SY/6#C#[Y!T]&![%HY%4[/=IWVR=DIZJXC'7@:0 4DU0X-!$ MO*/*)!GKB;$Z?'#$,2TUJU5(J+]#[<%'CZF.YBR=IQ2;*VU[F053*!VL5*_$ M'WT?;""Q:;T301ML+PY;+T/\!]R&4.Y%R#>P&W-8NIJ3<_26XB"K\XW[8D]% M$]K6JP*SG*?:5%.YK6GAMH>N%"4EKIXK9[:\&S5LUZH::]&ETA#6W8:!]KYH MW0C?6$,WEF(@_+OJ22Z.;6Q:"UHZ)'2V<[80;D2FC=@KM RF7]+))4)MFCCV M\-_KD5*#=H=T8]2J:.$]87/<[P&XM'YJP-0C*87J-:3^<1H"O>]!>^-*N >B M[6NT1A%]R06/^+;&:K?TRBICH56O7&(R-UTBUOV:"G)+)RYK=,JW6=B%@P=: M_A"95X_6.DD)ZGP*AF@T4VA0!=*'8B61/A)*HQY^#,[F'FTKS2%>U8D;QUO6 M^0 9B^O%1H*YC!67F462.E@NI:&(9DCSM,#!*]K0=5#KV^NGI.,*^V/D1X\J, M8BQ<:?@VDV)0EYX$^*$,@2UV./ %>8S1$T>T*;-*DB#5&F"= GT%4,>3X\XG M)[$H$*V/0?LU[&<0-;O?=A+.'DH8+H".?Q]8I! G,&M#-QK?USVX&\&U9$(H M<(:B0(XYG7ZHX)Q1UQ@7W<8S%-%/-Y.;X6%$OB7:KPCIIDL1:Y=YCECF9S-E MN\>D117@C[2.\KG-GW;.E%$K^$,9;\'4J&&TWDJ1R[@%B'-N#(\PJJT?&[Q) MK.;)+W0\]Y@G2E*,7BL^<91&F#9[P!(=N\W$<[S1Q,,&/./( !+Z=GW]$N,_ MO<3P(_':W*>^&:+AWO +M'08X$;[Q_%A?]"FP]6KV:C(X,P_,#WIX0AQ$OMC MV12#T9TPLXJ-!^PE3W@EZ.2 R08>?5E&/Z>\!:\AIG&A83KR75&6;%\2OY8' M!X36D"WIGEJX_07V@8PB.88?B(B31(?"YZGEL:U))?Y4NI),5+K=C6S5=T:O MP="_&YHXAOE55D&^=G?B\G6C=?33Y">F- 29AQ*SCZ2=HZ0A,3)9DR.KT%HY M_O5M9I7J[X$7WOW,%I(5?;+*L)>930.T[ -[*EC("IBX9H/=9W-" M$=S9'+-)&)E4B+4&OQ96%^+538H:*PD]6^!5;Q-2&7%V>.C 1UL+'5);A7>Z MNG"FDB==QQO<(9G+%[:.MM[VVZ[3*]L>] ^VV??PN]#>8AO_KAZUNA'*G=/' M&IO6!,!N@!@B\J,-7A;8.,574,LW);S/ZF$IK()R#I791N01P[%@-,T^; MK1*ST^_45S]HE&<)+!8=P_/+3: &&+ M-'J.;'DN2S-Y 4P9O#Y+C ;_!FPFO8IYQ>!X_[4;T2Z2 6H>Q\?'PQ[79W+J MHWY66T[8D]0^917ZP/@P5[G,0GZ)]R4OYX+O5@J'V#U < M_0:KOFFUZA^^R:BO$02M!&.KF!#2,AT M:R(7RLLN MDZ^)N41CV^O.V@IV,IBG:\"&I[@^X$<9T$Q8RVXW.W,QS5KW$?5@LS&M7K2Y M^UAJ/>"GK+0;KQ?AJVO?<(864/AUN$/.^RP?#M4X:[>DYM_1(+ M0FN$_#XZ#,%3>]M(!;XJ"-/3W*" M)FD<_@)J)VXP&K7Q$J)P2LG/YQB.+/EFA)X?Z-Q.NG>%=:%LE G&V8)H=H C MZ?AQT4T:)3P7HY=JR@A1!#+#EOCV_\8)865/:UK);-*HN[8AB MT7O7[_7[ ]0'.($]LLTZ/7N7!#%<35<%6D38=>,?Q2S%8ABD6;3!N38K#M<% M^I#B-UYBX#AOQQ<;_L-^MUCFDA0[HHG9$VB5#W[;I/:I.4^471ZV76G7$HC1 M,!#D-/$JIO#%(W>Q D67BS&S/Q#D)([G'?B :1IG.N$BA8M\,X3H^R].EDP$)SS!.Y>-P'7:VI]7A0D03".SP9 M=6!BQYG40KCK@B9U'5M)V2 NUO> CLBTI9+WAF]99@@^WRK-^O3J\^>+6RS( M,(FQ]-+MQ>4/YY>G5 SD\BSZ@K68;L<7\'NS>,B@WS-O^3ZZTA;9YF=JE%M# M"%=23KS&J;9:6ST7?G]M;N>&^";]4JMEHH0+KG0QY>)I=UI409EC+_J(J0W\ M/=4!PB@*:3"T*O;8Q"G=KB=);EJ;?K+YY4#Z]M!@*"Q+!@9B%(_#DB:L'$NQ MD96%Z[E6P@=3$7)HA*:FX[3$P4X_7S+#R*YF]5ICPL MPVK/XGYFY$,1XPC;_Y]M+(:M-BGY]"AK^4Y;LKA0&PCN J']43F)#\OIU:(&!^KIL8=:NA=&:2E<.V-MVY&T[RPU2O^X2M[X+T2_G9ZL? M*^#]*X>(K)#C8*;&25GF@3-(P3ZIQ/1*421/[HMKQ>U,( =31K^MK$?LE=:? M>AZ1$V%EOI3CQ"P_DJ/+#D5])WJP$F#"\X0*MTS]1K'>P%X#63NJJ9FQA"]_ M:O#EFW2:+:DRF-/E-11EBW>=4DY)8DB&.$70:(I@BZ#W29B=_$IE>(O6;#]J MQ 2 MRII7:2V.P= MCO<:G-Z'B[J28U1JB 6D';/)J5=RR[77/.TXRU/'*C+ M/^93S5Q?$T"= /".!0+EZNW0JGWOQ.+;]OT9V1]*#5BSM"[E-K& ;;M>J4Y[ M#UN.C*N366S!YMY%^8"(_6X VS'-P[%?8 M8A##+G):5:XI.G5(\>@2#74@N80>$GE6%]G2%A="4CJ-%\A9>85KV95KQ?.( MVT@@_,^_/F9W&?H<>@,F>YVGI:J'TX54]VGJ16H((.KMK ;:2SCTZIV)?H=A M20&%Z7S-WG]VZ=ED*'=:UGXU2:=8S)LM-U17VFIJ*SNPD#JE0/J#:7YL9Z:X M&I>@??NW[B &)]0J.P"I 2)I@IL MP$VR$4F;\P,*:9>75GA< OS;HO:T[*_5.O-+)TH@X#"I)Y^E4 MVT7/7#D#3V'KO*F,(D_LFWO@PN+V0GAK#"W-E!D+LP/K()6?L=0T4?/UJ>_2 MIBFA"^6ZB':@CKINWV[%]BIZT?. 4X1>"L0)%U?D*FD[Q"@2#<#Q(8DITIL M6!Y:JK$Y\3;(*?[@,L>E!]6+'Q/O)?M7C#1P\2HJ*4I]=CQ?*4CTP)Q!CL!, M&:W[#:N;H2Y(E5AMUO2C]K'P:TP%*)W--HNE_KC$=^-!7"@ MO;_'^-^_:255E-1!7L%0$WS# \(]M[:*N/]A-S0F HV+7["SA\5-MA1CDZK% M>A'BB*3*]-ANW$6&U 5:0QNR\"&Q>?V>N'I> A9O,,HBMXN%E9L462X<#DH[ M +\IBWI]%'8.3(-+BL M3(R1@+;!)+S[<5X42,X>XNCGWG4OPM+K5;;(YFC"X![OB5+Z!*U-+UPH.9U) MJ6'25=>YZKCW?D5^7'FUJP'99[X>(F[SBZ Q-A)!@+ RCF MW/.EEA=CA$S:#U;HJ=<8;6XEAX@I>^Z5"KT%_)CO=COZU MVRS4:AL2T/EZ?>&Z7S7U5PG4KROL6KXX< *VY_%\_N$LIO(NL;4^4#*.UE^A M=&)K*Z+4 #*[\B=:HR4"]3PGKEW5\GTJCKBE^(8]VQY-%GI08E&#^8$ M0>\\4)Y3VH]!D\*:*37,2S%> RP5+7WMNOKV< ?:[A MS?,*N"/FT[8\-_YS.AJN56^K:'<<#FX-F04NBSB3Y!7."3(I=8X+N@M8U+'U M+,,&(A39DNI*C-A.UXNE9S*3MEHL9PN!\,N =U28#.V!3%/9,+WJ^ 9HT"KR MJ7!@>VLW=P7K82H#VNE:%F#KG'HR0KTQ"*#9=,4-!*E!D.'6:-)@5LIT8Q,O M"Z:6,I,T)]($-21VO&*\5Z))@C?5+;A,O?/TVCEE[;$+D_%'$"CV(^E$J 8] M[9(:,TKU3.*9XY0RV< [#EJ EJ$-4-,3:H"5_/"U?F] MAMO%/0IXOF9XAS7Z,6K?K8L5=')OVP0).L7P-03J[$E#)>MMJ.10I#$ST@2U M\=J:I,_2F<.ZTK>:+*I-)A/%YCD-B*]>,,ZL8\938%]B;-F5SO0[;6X54/; M=MPD3SJ$H&37+]7FKR5-N H!?GO2@7C"N\,DMLN!V4]/JH7Q-OH5W.QK#0?M_' 4LM M].MV;[+S7V-V, ;FP3#UW3;%%;SJZLOY$?XSYY8N58O?25XUS5=][X)5=RL= M>DJO(""X2:<[&.?:LX"\ERZ-VC?1FB4:2S_+*JSN/HM^=NRDZQWCO5/W/F;Y M4S%_$II+(D'*P:(S_A@;QLV3;"$)RQ+S3=%5TCN"NX!4KGB#UR*9K.\2?N3Q MO9[YAU>-.>@K+"QGQLUBB+(DCI%.;6/-N]2EC;Y("Z;,[U', V0V&QU6?I=( M@*P!J90["%K*:R=FVLMMQI#0.*^9JYR-,V+C8B)H^-)A+3:-BI@5("0FBD*A AU_9,6VC1P49>R'NJ=!X]*G;B M6'@',)>Y;$8X-T_%O5+10G"?/!4E M!]*N5U0 7:S6:"05*I9+;+[S3B;&.N"DQ!YU?=%,][9UN2$YCVN.;([*?_UK M/7M@F;FD'CH$ PZ \WK_*)4FHO4BDE>]C:,.Z2P*V[5S)'>%E1Y!%9<>GKGO M:"Y*I2[&LXDCQ#'2MZU-^]> MR$3R,\W@S%[.H:F.YO42Z=\(QS%C:P4/CN8).GT%#@N%)/.B/M'B) MT#7CZ(U,1Y605/"7/6)"QI9]()I!.(@ZY]8JUPRTP0QF[WG .]38#9II]H % M C@DC 3'K^'L2KE-[9,2-'A(RVZ9 MIN=^="5*:GV'4!L!SC;/?J.'TFH(T=*PN]@6BD5D6V*&2$F55YVB0I9/RWS6 MN2@MG& B"Y#L'_L-AC(E\ZFT/.'.XM3=C*-]@.CC[BGYBBHRZ#Z<:CMGF@:2 MD]89JQMMUDS^?%4C3%^99=S?[[G,Z&;>$QF_2SB+"0NG6[7XE:8I.#F+E[S M=25QD:N(6VG4P$6-N*AEFL)G0VLKOVN4^>:N4=$?US7*?$O7J.@/[1IEBK=W MC0J1)VWO&O4JAS(;^GMU-W1I:U"&SPP] RHB"@RW8B%-2/T=!5LI.GNR,*31 M^=76V214UPCWL&P=WTYL$PBB4/GBMP_A+!4728B2\30I2ZK\Q@W!_;IU-%N] M>4IM2G@EZ9P/[F3[,DK6]=UO0:.5-QK;V/TJ75@P=O&L$UI?@6+BAR<2W*<) 7".28B&5*I0R/T6 V.U)FF MU92/+:D8H=_O_ P(LQM=IZ7UMJ#WI>4+L_D+.R!BX*YQ 4O-F.* E]2\P,C@ M,G\D=?P^DV,-$4C\9VT.:G^BP!ON\08UE-[6Q R,BE?%"(-"LCF7H:^LKY09 M=(D#8I4(Q,RIF(;EW:P! UT1@4+O" I[G0WOV"/[6J<[$[P5!3][/>>H5DU9 M9LQ_B.600!:V6O4ZF 5DF0396<9!AWP37'M*ZI/-Y:)H4Z#4 8L$R?:)SX+, MLVRX]S9FUX9%/LG+Q>9=]!@ -V-F!!RO0*4H+Y[4V" ]DO**[2MJD>I%7U , MJ1)VZ9?I2N)T21YIG5CSI<7KH=RE&R(XM7/+B T]]6+@V^0=5 W0I/1 V5FE MM5C4&V&U:GXA<@IKJ80=>$OKW*.3%@QJZ7AS]N9HCA$>9+W*GB!(QQ?)\94V MM$T)'<5T4^24)U9*_F[[(!B5A:4<*$RA^CYZ2A^)L2[QBOT>^-6?0*L/Z'3OVBSYB>-B:;+ S.?MTM1L[WT.VDLJ2 M7JMPS#XXD03N[)Y$1NF;+ 9"Y:LFK*[>DHR28PB&4@FLZ":K?MWXK@G? M=7A@?"V85NJS#5MBQ@,8]^<-E\&5N*(2AQ8I&;U8H QDVX 27M='A ML>@!6F&K0$^ND."'J ?WBZDI:F!"?[[DU!*8K!U^$WEX7\L*4>A .J.2KV79Q:D.^. $*":A(?4@^OA+!@)V^&_JE$$)^O"+D!N8% M\[#-CDVE1J+^'K"#D 1GW"7YKR$=O@.BG2(=RFQ4!0Q72'%#RAM%X*.)DWJ7 MLY5*0.@-UD0IE 9 A&D+?>AZU[2%2;2;7-1]XR=R*%\);E@[L=BLN&J);%'0 MC)A26=-#O@K#!29-S_\NR^Y%DV*1.CJAOZM7?J-37A.:U"EON)4TEB;:X)C7 M6.1.PNHUD6SZJBD$RX=_6>0%]JENI?[\ONE\'PV7I&X.^_T3EB4^C2IEQO6R22Y8VXC4"W+<)L TU:;3:F-V01UF0U!'W;F_=5!'*T%2&/TP M'E_;K 9SLU;[ (6W+%'L(^>UY-'9_-Y7HQR#;(IS!VF)7>;X1(4RT>5[IH3& MJ06BAI$7L"HB/AU:!*Z:[B$,C?0J0V&,^.FY"L?TBJL\&T9]T7)G'.YKH\(E MT-OA3&S9A*@F+.#R7M5HEL'507\#YHNU71LBOYC#-BM@[;:I(YK4>;P'B<0P MZ$/BD#D)[G:.3+P;G*G+%4,(T024K??ARY*4U1V+ZU_L"5P6/1IE#_OVRG/; M[(%(P("Z2J]7EB#J8[,S ;('NOXT.AX=[(WZN]]'$P# /+M_42WPVLI)_.T9 MIO;:9J'D^Y6EQ'@:E7P>+6O?44JP%G4P[!"F_ VDA3P9$+C@+7$;VQJ/!9VN MO:3TKN>/3+T ]DQ;V_KY=(0>''9NQ%J$@;JJI]3$5+XLB%G$$?6E 0B-+Z6X'PZ-HR+<*YD/\,T5 M",(QVBF/JS)Q#VN&AYS,ZBJZ<[RV=0!($2LA8:R4/R!&VJ/U ME CG5#,M\#N0;UZ] [ =A]?[L-/@(-O4?6O'-+6'TT. "4 MOL: %!)$L$_WC,(W 9R)/0@$\G-V?[DDK3,.G=<9HBM;W)KK3@"> M8=7LU+L-+"/RACG+2$,+"R/GKA'Y 'T>=CE7FRB38K^&MC-L<]8R)Q$G)+11 MUF1E4ZUX(H__VW/!KSC@#\[E1<1R"Y_4PL"G M#82PW#' 2-.*D='_-D::;\3( Y_2VM8.BI _J!*&R[NB2 Q+AW&Q>3+?PW#1 M27&_XAPM)<-FA,G62(9/Q;5CS]!C"PBI3U@H[YJKA&-)PWFQGI'I(,LD=>DE< ,F4!I[:@;UJK9X+#7BY;$7"> &6DK&TX24B M77D08&@T[H!WZYRZM4\QD\@/SO675:?/]!SK-56VESM7 :H/6O7,17,X2\;5 M M&Q$;N'J&4/F7 ?"0JS87(!3=<[8_3.;*#MW)U1D;[67Z'[/M0_Z[IC1N_8 MZV1US^AFVQR_@/%9(H[QI)TJ0'LNU! KH+= M1+0=OP$Z7P5SQS[R*4=,4@K&_$69E7;)63)L)/H6K?!>F06-40;<*M8589GH MOHV]6D.LP%S&KNV-K-?24/G]8_%<-A2 M$YLLF6^"I!N!I&NS*_\QVR >,$,V_Y,<'O,0-TJ=8I7 @HT=U&!_#YL$V,QI M&ZN'&AD<[[G*-$(53DC,/!??A]I/)>33V<5O- ?!W'AU4J@\A=!N%"*Q]KW: MA'[1[!2KT-FI-> ?,9-7<8QK#M)_A)CP<:Q9A>2F097A!D937@0LSF&V2Y4( MR[F@$&@5=2^ $:_"0QHYIA7F_-*$7+[.0LM8I8L.X%43$%=RM%%P*[<=^)%" M>-*O"29RUQ?RR^5UDK-Q(UKOV/7FG0)$J =/L66SJM8&JD%!_1#OZ(;AB?=Q.; MJ#"(;R)ZPS6=G=)U;NRC#$,LPR)@BWY?2,:%HH.]WG0C'DI*XB'7IT;\5AR# MLJ9=66$58.9 S0VPB0V/[I=V^ MJDU>2(KQ]JT.E3?.G:@!Y5L6@3(MY8BJW=F?U5,_QG7@V^P-/B$;_?'08.A' M&(%);CEF"1SJ3Z%J[-EKG3+,W]2]XI>>/DJJ.0_%*BAB2:AV=N%5Z=4A-TU5 M]'6)K?;^JT*@)]7-I%9%(-(9*Q.1>TSL6IT;2#,B.5@\ 7#6E6?4N\)0X:O! MF5S"T(T9-^D3\1/5 MQAA-%EV ,1Y@/'D(D1/S>> BS"I4Z' KK&@J,:KGHP;)$N@#D,0*ED9F'LEP M40!8J-IHUU$OG^:/-*=PP7OFO%:(][@O<]Z#2/@LU[\+O$%.*9HXU/RAX'1" MRJAS1E$8[@"-HLJSS5F08!Y(]J(XHP4_%&C&XB4"R'"IU+5HZ<&D5F$Z56N6 MUH$E"'N^O9Q5(9[..?+M?!CTAG9(-ZTM5*FBLAW8BQ7D0 2WBYI8)CXHPX$R MWBZXE(8D(U)46F$YLNH3]T6QHK8/GJ%!NYL'/(VJQMG*&'+H;0)8YVAKM6",+]N_ 7+L[=4 3+<'D) MK];BYND/0B!]1:92.?[!#C>ZFENMBJJ+NY6Q.HIUK[Q)&"<7XG%D*9'4L7NR M-)!/S;/5<95528!I9]^VM*K!VCQ.K9)VVO1HEXJH&-X+<'G7PRF(* FB=5Q$ MFVIX3L9Q951>-TL[PM*.D':$LT=?%_/OJ=3U?_]I*7%H?_JKS>;QL_4,>P$Q M0NX=-H [.C[&/P[BD^-#\ZE,T]_P43\:G<2#@Y&YXK#B3S:LN(_O'AX?F9OU M [Y'M:V-]57N^2IQ/QK&)_V!N4WGZ?(1,7KR4F%=R'YT$!\/]LTO<#>!XP*) M*Y-H"/K,(#X8'IN/6I[[S\EB2=$I)?:\1,A)D],] UK)K_/L?A4-HE']IR', M>WPT@)]NRS7H[\-^?S_Z,0.\&$@GA\:#8?T!+(:_.#B(#D;[1PC(P?&@_?GA M:\^/^_I\[,7'G_E!Z#O#_?C@Y#C:!4IT$@^'!]&NP023CYB]RF'4<$[#XQC( M%OPU/(J/]T=1,^R.A[ZF]HZ^ZVA;I M;JKK^''ZGNV:$9CL&8CTE*21,I95L M8- 7:F%M)IB]P-6+$0-O?&;WVSNC]8)\G.VR\L@.R)!9_VHT& M7.C]Y/T)OKLO_S;OHL,3?O(N&AWWX]'^0>/^:FF)79PSK]#=9Z?$BX1GN'G>L/X6O2!_;H_7"(+_$_:Z]X9X%0D8MV M,S:GR3)#[\*@?Q@/X !&AKL(RK_-Q\LQ")-/T7 XBO=/3J)#>2[_-I\+TLF MCH"N.N*5(.X^N(/C^.2D;SX""\K-Q[1\B$:Z%%C)4(B)D1:'\,93= 0# M'XVB WSA*.(6@>:T1,\<##-[ ((ZTMW *,?R3_/3Y"=<:5I)TX4C!0MB\U'$ M748-M:[]L@2Z>Z)0.\#'W.C5W)Z.C=_ESC5?.V!? M _I[?W\_1M1K))Y1$TW$KBOGAM@YXR+[NT"V.?FKD:*]?NC9UF6M#_O4:K4_ M:"1Z8N;]__U,?*?1=:!]-;?I5ZRYU2QVQ^4?T?V @M&S>LC;ESR@4I;?U7_^ M_,-9YW).3GHGS2\F>1%TRM*OH__7W9RM:P8M/8_QXNS!E0YA6ML2-M?H5N?W MV&IM,[6LC?J7('&O<2)PY[.@XUC]^\XF7%T=LGY/;4,/][Y,SJ*==XUS![&E MIP4&#G_/5%V(90L$S;L+!)VV5:1HI#J%:1U11UH'YG/LQA) 6A]#P\+JO_\B MZ5[=N-61GKQ3?ZOOU17 QJ8[FD#]6?=*D%CEKK(_]H+PZX7ZBK 5N\=;OO><;\MG=Q) M^]]VWI&B2_>YOZ::=N#;6!(ESYD&;H-AC4^ZQMZDM>@T]6] N^W96A4="R"E M8]Q*;ED#Z7CHZ26=(HQ5;;H_;N/ Q!50ZF[E=B ;F__X#]1]&K!\?4GCSHD) M5@,9>M00C3QEIFML[YTF\[OK@0XFHS=N$S\>=3W^C.'B&.OP^MJGY:SWO8[K1C"C[;=!) MTM,BTM.Z1B"(=:*:UZN^&Y&I,WG'"DC1BT31V[@&>ZC'C3.?_!3YFN!&W!@, MNY:BJN)FU#KH^KS>,'T;<#2VLLV%>9W?X!1]:3G9"LO^4?O#GQ*D6AU?*OBB MMMT3'>AS;[#&M2)B* MJTALA1ZT/E91%W71NT/Z0%B3,JK%:.H..Q?*HQUT[ M8?+2O=C!:--.3MH7Z^M='0L:MC_<:'WLX/T_M[=[;UQ-L>AO?.F:2Z]*-*K? MCZ5F4XNCA[*H6BK8MO>HW]8TT%R/!G_>M7,1K=8H5?0"&\.V4Q=U0N_2#OY:368:;TJ,,*5H^JQD]-7YP*N%Q,\C'9( MRI*[OZV*XMY^^ANG,?_[/P8BZY4C?&:\8YD!K84YR_J31!OV9*Z52 MECWESV$7$ UNHU*);-!#S6;.40WMZZ)5X-J:E91KX+Y]+KH%&:\%GZT.Y$*) MVRT(E*>=SEPPK6Y@HQQPJT?U3-W.:0C:!#F\>22IE,69;!K"I?^TI7, 3.TM M%L.B%)F#M%TI50$/X#W%

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end XML 44 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 45 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 47 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 115 188 1 false 59 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://pacvgroup.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Consolidated Balance Sheets Sheet http://pacvgroup.com/role/ConsolidatedBalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://pacvgroup.com/role/ConsolidatedBalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://pacvgroup.com/role/ConsolidatedStatementsOfOperations Condensed Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://pacvgroup.com/role/ConsolidatedStatementsOfCashFlows Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 5 false false R6.htm 00000006 - Disclosure - Nature of Operations Sheet http://pacvgroup.com/role/NatureOfOperations Nature of Operations Notes 6 false false R7.htm 00000007 - Disclosure - Summary of Significant Accounting Policies Sheet http://pacvgroup.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 7 false false R8.htm 00000008 - Disclosure - Going Concern Sheet http://pacvgroup.com/role/GoingConcern Going Concern Notes 8 false false R9.htm 00000009 - Disclosure - Inventories Sheet http://pacvgroup.com/role/Inventories Inventories Notes 9 false false R10.htm 00000010 - Disclosure - Property, Plant and Equipment Sheet http://pacvgroup.com/role/PropertyPlantAndEquipment Property, Plant and Equipment Notes 10 false false R11.htm 00000011 - Disclosure - Accrued Expense Sheet http://pacvgroup.com/role/AccruedExpense Accrued Expense Notes 11 false false R12.htm 00000012 - Disclosure - Income Tax Sheet http://pacvgroup.com/role/IncomeTax Income Tax Notes 12 false false R13.htm 00000013 - Disclosure - Related Party Transactions Sheet http://pacvgroup.com/role/NotesPayable-RelatedParties Related Party Transactions Notes 13 false false R14.htm 00000014 - Disclosure - Stockholders' Equity Sheet http://pacvgroup.com/role/StockholdersEquity Stockholders' Equity Notes 14 false false R15.htm 00000015 - Disclosure - Commitments, Contingencies and Uncertainties Sheet http://pacvgroup.com/role/CommitmentsContingenciesAndUncertainties Commitments, Contingencies and Uncertainties Notes 15 false false R16.htm 00000016 - Disclosure - Subsequent Events Sheet http://pacvgroup.com/role/SubsequentEvents Subsequent Events Notes 16 false false R17.htm 00000017 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://pacvgroup.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://pacvgroup.com/role/SummaryOfSignificantAccountingPolicies 17 false false R18.htm 00000018 - Disclosure - Property, Plant and Equipment (Tables) Sheet http://pacvgroup.com/role/PropertyPlantAndEquipmentTables Property, Plant and Equipment (Tables) Tables http://pacvgroup.com/role/PropertyPlantAndEquipment 18 false false R19.htm 00000019 - Disclosure - Related Party Transactions (Tables) Sheet http://pacvgroup.com/role/RelatedPartyTransactionsTables Related Party Transactions (Tables) Tables http://pacvgroup.com/role/NotesPayable-RelatedParties 19 false false R20.htm 00000020 - Disclosure - Nature of Operations (Details) Sheet http://pacvgroup.com/role/NatureOfOperationsDetails Nature of Operations (Details) Details http://pacvgroup.com/role/NatureOfOperations 20 false false R21.htm 00000021 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://pacvgroup.com/role/SummaryOfSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://pacvgroup.com/role/SummaryOfSignificantAccountingPoliciesPolicies 21 false false R22.htm 00000022 - Disclosure - Going Concern (Details) Sheet http://pacvgroup.com/role/GoingConcernDetailsNarrative Going Concern (Details) Details http://pacvgroup.com/role/GoingConcern 22 false false R23.htm 00000023 - Disclosure - Inventories (Details) Sheet http://pacvgroup.com/role/InventoriesDetails Inventories (Details) Details http://pacvgroup.com/role/Inventories 23 false false R24.htm 00000024 - Disclosure - Property, Plant and Equipment (Details) Sheet http://pacvgroup.com/role/PropertyPlantAndEquipmentDetails Property, Plant and Equipment (Details) Details http://pacvgroup.com/role/PropertyPlantAndEquipmentTables 24 false false R25.htm 00000025 - Disclosure - Property, Plant and Equipment (Details Textual) Sheet http://pacvgroup.com/role/PropertyPlantAndEquipmentDetailsNarrative Property, Plant and Equipment (Details Textual) Details http://pacvgroup.com/role/PropertyPlantAndEquipmentTables 25 false false R26.htm 00000026 - Disclosure - Accrued Expense (Details) Sheet http://pacvgroup.com/role/AccruedExpenseDetailsNarrative Accrued Expense (Details) Details http://pacvgroup.com/role/AccruedExpense 26 false false R27.htm 00000027 - Disclosure - Related Party Transactions (Details) Sheet http://pacvgroup.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://pacvgroup.com/role/RelatedPartyTransactionsTables 27 false false R28.htm 00000028 - Disclosure - Related Party Transactions (Details 1) Sheet http://pacvgroup.com/role/RelatedPartyTransactionsDetails1 Related Party Transactions (Details 1) Details http://pacvgroup.com/role/RelatedPartyTransactionsTables 28 false false R29.htm 00000029 - Disclosure - Related Party Transactions (Details Textual) Sheet http://pacvgroup.com/role/NotesPayable-RelatedPartiesDetailsNarrative Related Party Transactions (Details Textual) Details http://pacvgroup.com/role/RelatedPartyTransactionsTables 29 false false R30.htm 00000030 - Disclosure - Stockholders' Equity (Details) Sheet http://pacvgroup.com/role/StockholdersEquityDetailsNarrative Stockholders' Equity (Details) Details http://pacvgroup.com/role/StockholdersEquity 30 false false R31.htm 00000031 - Disclosure - Commitments, Contingencies and Uncertainties (Details) Sheet http://pacvgroup.com/role/CommitmentsContingenciesAndUncertaintiesDetails Commitments, Contingencies and Uncertainties (Details) Details http://pacvgroup.com/role/CommitmentsContingenciesAndUncertainties 31 false false R32.htm 00000032 - Disclosure - Subsequent Events (Details) Sheet http://pacvgroup.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://pacvgroup.com/role/SubsequentEvents 32 false false All Reports Book All Reports pacv-20180630.xml pacv-20180630.xsd pacv-20180630_cal.xml pacv-20180630_def.xml pacv-20180630_lab.xml pacv-20180630_pre.xml http://fasb.org/srt/2018-01-31 http://fasb.org/us-gaap/2018-01-31 http://xbrl.sec.gov/dei/2018-01-31 true true ZIP 49 0001213900-18-011414-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-18-011414-xbrl.zip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�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

D8CM ?$];V:)^ Q':^*&-:NT3]3.GGT_T M#R?[9V4/2);4.:!#F$B*"WB.QD2M3M6L"4QL36U++!RH[?HQ$PT&] 7V/"=: MG&.H%E)A32 T_(4CX2<0%YSQ& I. ,]V/CBE%W&R(1V9@0TEE&5XQRJB4!'?-:*/EG#7@LWU( M>1IFD:LV4Q;?2X4K,7.FM'$<7Z,Z(C^V(ZO( M_+!X ZP_Y*,H8B>]K2G=(C+F"A7ITX&>Q]T!'"49/H,3'M +J"Y(&2%JF!D' MP!P7-)$'^A"5 (0IOO4WVVOORWV*B4S6A>S=%WE_ P]OIXT8J#@I+4>]7C'P MLC*%7@>_T EV=B#*,,H' O(1ZL0[0Q-!Y5!M$""(=8IP(+%B

8"2P MS#HP2. 9)$[ *'Z*1:;8*S]4A? H34;M)PINC>T-0,P@X 6FMREV0HZ_AA@U MHF\6C$/V!?/,(3"7+U2&$G#%CC/8*-ZDOE3C44L$.1'-U*;T&4J(U8^6)TT1 M1[@0P\0FW\M>_XQ=W9ZR$_#UT)=@)Z[A#47:!#2'X&4*B]F)[;JH N\T]OOA M]2';PW#7FE@V5MZ\.\.Q_C&4 V!@Y>P1YS,Y%QK,I5:C4>BH=/=(CHZ_$O3^ M;O?75%;Y9>(UX%%^YY(8)G;XKYX=P$0 =@OCSG5G*!Q5,MJ3*;"PW+;O,PP8 M( @3<0NR'H88$ @]"C,HK&7T$E)"P? %U39\-E:!9H5NL[S2<.H0A,0F^JL1 MS19-%F,^OY9\E*@E'QW4NW_(F?_(S"P/*(E^)=W])<*1)LT<8B+REC)EJ4Y2 MN*[RB%4>L0QY1'5NQ2JR-:_5TW7HX=AU.<%NI1>30GEF215W5'%'%7=4<<=: M<4>ZKVV^(DOY'TI.D$C+3U[*MJ_E'IGYN4$G$/E2$^?,L@5(4@=B?FZO#45: M(0NCWG.&5W%&:3ELVS )5<*[2G@_*>$='9^X!E\O.GKZ1ISU)N\].!7-Y3#2 MI>O(3O.G'O_<[K9S#Z!>/NO68(Z.L.V/N?,38MP5SS N"3)C<(2?=\-! =#I MI4/5A6>UU@J-2;0PI5^3"),53R@O-#+]U1FLON <_=4Q(:5]CKL9T&_[PE98Y37?-$^23<&5)_SMXJIQ'.\QH<]GZ[MR[SWWP=5]P MGTB\7DL0R.)[$9T4VH/W O^2!Q?*#?C5=8N9KM[#XY_P;K$4H@1+%KBF)!P0%7@H':9*6#0,C[]ZE,-OKT9NBW)LL$ MXKX:;MOR7E;4;/0W;B]5?Z?OK@6 ;6/J\T],?3H&=3X,QI_HM,JG7(Q*H"RY MBW7>-:IS,(XODXNON5MPY^S>7=WI$BGDW/"Z[VI1/0%Q5U):/QQ"BL63H<;9(.F[COU[L;[.FUIJ8W.IK>:NTONLY7 MBL%1^P,]A;N!0LQGY.*DY.;#ZDN2?3.M=6P^"A+W5RZ8LYMY,[Y!NE[7CCKY M_+ALYA6XLIAHM[1NI[UYM#?!A/^-K<.L!OSBU8P+7(3 MWE4:9#MX4/*C0'SP; 72=T#69ZM:7Y80^ZR4V/"/:-@M-87Q.SE MXIJZUM(WAWZYQ*1(W/-LQN?5"\R?3 M:[4F^\URW,*I$7%UPROAG#5?++*7DN6;HBF1HHQ3[MBGW>'/L\1Q$=L_QR_'P&Z^0;E6KEYOY)59>"[:3X?RM5+QJ:@7KD[_=K33JT.HR.JV9YKA)*362QZP M$]?]*?9OKRP&S4T)/PS$AFXXL/G:K8UKC9=(]>@=K:.O[I\V-^F=EIAN^I'6 M:>8W!&Z ;%F9^$A]^O%76]ZQ4)3=":]A0T;*(Z.C+<3%7-&M]'A(BCP@19R< ME=[=@JK7W9A:G8FY"J?;>;!+M:N]-N:/-:N]- MQ3C5WIN*$:J]-]7>FVKO3;7WILC,4NV]>4'!K/;>%$K%5'MOJJ;Z:N]-H7 I M$F-4>V]VC4N1N*':>U,FSBEDPT>U]Z;BFVKOS0)'IMH\46@-5.V]>>/L4^V] M67%IJKTWU=Z;JD&\4K?%5+?5WIMJ[\TFJ%?MO2F#)GIU"%5[;ZJ]-^6BV\OM MO:&/:MO-"CLE;GG._HA3UR'E3X[!-7PR'Z-G"[T MIK:\CY+N2DP0BNAO12OQLEN%HM[Z:B/4QE"^'8N;ELUHE>D">L< +C!L&!*^ M0#GRY46=7-V?.S6<1QA(7JBM-]O' \.C2SI!TF&*;[^>:>SB^N)4HZN \*U; M#U#4Y(W.N(.*^RC*EC^FO5,$!U[2*5\3SUD."T+/H=L[?69;?X6N!_\S<;>6 M?\AZM@V/!+0)AV!BAFB_\]G8N.=LP+G#N&U- "5$3=Y);2:9^A#H07@1!$/+ M-T-Q9S3,C5>]L3HS!NZ]V!QV;W@6;1&B60$#!M2Q@D<6>-P(Z"XD>1$JH4O( M(S[+=WLMTDA9[?7=YU>CX9]@VZ08^135@1#VZ>#^YM'C,P_O,\()H ,.X MHP%Q3^?$^,E15TGN0DCH9F3?#R?J>L2Q :(N;E-'V1<7S.-$$Z&, %R#[A\D MA6"#"K'L^,+Z8;2?4]YGCI#1M6ISWQ'7L,DKH-4MZ/AY+D64^LW A.]X_)X[ MH01";H'UE8Z,WR$RT2964+AF$,+X0*70#GQI.T(;<0#T/38"]0.ONGZ"9,MU M7UJ?9;7=C0#SAIONG6.5P6&K'>K;W\M**D[2AA8B0:!*![XR'=@WE$\>"RVH MBUBW>6+Q_P$!!QV("LX;@C+@\07H_=X)S-9DUQ#*6:9RXMBOH44/HL<%SI(! M_]UY7&@__K?E2Q4">A(&LP0,0PX+C#X5>$(:#3[UW&%H!@(J?VQ-I_$U\>(> M7;I[W6,^]^YA)/&@AYOK/3[4F,-)(Z$F)(VIP6_H^/GJ%GKW@;"!OZ32L?&N M>*$3'P$N>-[P783HD50SC'K(_LMI&G<4H!N(CIHMP!K@%;-NZ"5@PWF B-P" M3V]J/!+^I,W2CR%QA_<(BW(\%.5CI4D+=,@N'/K;$09WI7>+Q?NJ9QO MN-J$+#.9G$B8@P>>Z1^Z'##<_A0OJY]0%S=>>!*\ZUO^V#>NV@4?]#SO<'"@7W MS],#S5S'+$9.W@Y\8!)DK@=.8$<&:'44 MTD8J4D3*$V+W-*_(OOAX!2N88^#H>@W6"^$7+L1D BOKX["'\]8L'Q5 ^E\? M_QYXMO4)_X4__Q]02P,$% @ IVD43?F-5%C\#@ 3JX !$ !P86-V M+3(P,3@P-C,P+GAS9.U=;7/;N!'^W,[T/[":Z32=.5F6'3NQS[X;68X3Y6Q+ M8\GIM5]N8!*24). #@!MZ7Y] ;Y()$%"D.*42.5,)A&!W>7S[.(=!'GV\SSP MG2=(&2+XO-'>VV\X$+O$0WARWK@?-CO#;J_7<'[^Z2]_=L2?L[\VF\X5@KYW MZEP2M]G#8_*C.I\A!A2P G]T?D"_%"FD%\O[J[%96S_U'F[=W (G&;3 MP-H7B#U"[^]Z2VM3SF>GK=;S\_,>)D_@F=!'MN<2,W-#$E(7+FW-@/OTMX/+ M@_WV^_WCP_V]^5B@O@1<9,DTD;7_/LH?M8].]\7?PW\;WH<#'K+E??;G^\D? M,_4;Q-RE\LEQ;T;>S>_0KQ.(WX>?P.&$]0&\!>Z +S[?+="_'N?LG]/G!P__ M\FGQ]HE]AI_"X2_O%Q=/'_?AI!_?\HRY4Q@ 1P0:L_-&QHO/AWN$3EH'^_OM MUJ\WU\-(KA$+GLY]A!_+Q-LG)R>M*#<5523G#]1/31^V9/8#8'!I6>0BC3S" MC /LYN0]OE3("A^UXLR<*"H5/8Y%42KJP8(<@^[>A#RU1$9+EH'F?KMYV$[% M0]:< #!;JHP!>XA,)QGE*I3XD)7J1#DE2IA@' ;EWO$X;?'%#+:$4%-(08K< MI=YZI;R"P""3R]%%.27H9+59*LB+"27A3%3"H)56)=%^^#" F%\1&ES",0A] M$;O?0^"C,8)>P^& 3B"7Q9T)"W"=N;32 (R)J%NB&4E29-ILAD3E$0E_.I.E M[%1Z=22P._*':#LJC,OT8A$V8BI6N1 MD"@F(A5*+O#=T-],9P6E5"5)2-V]70"Z!#/B(T^TNMX%\&65'TXAY"SV?G6V MWO4'PM^R%8:)[X4=#V(!WX6_WB-U=*%K#_NS^2@2]RZI-I4R.EC]-8L1BO;#AD[*^O.FWL,0@\) MF==(Y2+0!6QZY9/G-8%:B>GC=+1-G*1Q)[+^&J=;,5*G4*U!)>GZ2!S+'EX, MW'W"A**XB"WDZ\5N^G@8!@&@B_YXB"98# !=((93KDM",0;"DX$HI2Z"B=\- M9?6Q>%>,16)5!B-CUUD9=E++NQFACT3X0+08+J3)L#>7HO?V^Z*W(UTG4=Y- MA_;PD^!"Z+)<9Q/T[CPINC.CNIO.'% B6E"^&/@@GH?]'J*9[,UBUU9G:QW= MWB\Z.C7T@Q.9BN=IJ;'==+UH(6D(O0_SF1Q5Q/XNI.F=W"XZ.=%V$O7==&L/ MBY]P!.9IXY!>ZIUYH#8-4M$1FKOIQUO"H9A[+L"##YMWT)>#73%/Y,MF5R>@ M]_5AT=>)MB/5%\Z( LR N\NC.D[EZ3[]51FL9"W]W M8AN[Z>,N"0+$HXF;&$[)@2K$KE[.;KB .%583>6UL?CJ!B/C-T?G)SE MJ(O,V=[-. W#!P9_#P6?#W*LMIS+%%+U?E=FD"M])S:PJ\XUF1)N,XTTFTZV MOV(ZZ;Q)?^WH^DKEX'PDNV2V9@2?".G#H\P_M>-XYTUL=$?CD1D#+;)CF&PX MULCHHZ%,7ZO'33L>"G6)\1**;M2O7(%,L[4!.%"FM64+D;!4/&H9D>I?A-4-N;!WXJ(DUK MCN%$42MZ([EQ:@)05[&B'!,21J+)BZ@$K11\:H C+M4'F=LX\CZB7+1>@K(/ M'C:E+%2@_PVY7DO[+TI2E+Y-218*[#>BVEW=Y44)BZJS*>%\;?M&?"^7-\G2 M30XKM5:GE9+KXHFF,T&<4.Y@Y6R4[I!DV9U&P?- _; M>W/FK9!N F+EALU I'I;@"@__6=X^U1!WO=HHSM6'0XLNS&K4I(_FBMM4P#: MHX85S*/[ERJVH,]9FO*5:-1C@MO#B6QM@1SD63D61$-$! M'XF4V538&RY8)!J#5Y-M)3 D8_X,*%QM8:8<2G-LI7$73E@*//EM*]0K"N$? MD"[A9JYMA2SFSK.09S!G$VP%_6'N3H&8XU\1>@<9%\VS/+PW%25:'MPC@;A5 MM':3P%J8B(MW>]=(_" ?!0_6AJS*,^R-49RS?13 MM':6XL^E;.MG$3P\>0%X]W@&D-<)9/N7 BRD6>O9,'B =/E8$IY<0S&(7Q:3 MZNPM?8XPAQ-(7Z)PPP?>$TZCT5L8RD*@E; U( -*7 @]=D5)T(V7&F\)SN[H MI/2,)#<(4X&G!Q^^;5>1-I02>_2$%(=Q,YKI/70R=;>N=]$S #/"$!=^[X:4 MPE79J\KZMR&D3\A=Q6.=T/9E[1O7J1X6-P#R MT8#X_YZH)3.PD$+]<78_+F6ZB8*M-4SE,**A^\BJ.2[S;:4TB$/ 1+'+-7[% M8:>!G+5E-0K"5;01F8G1+4?1>JXHS:HL*?INKV4!6OF/2"WW8'XO.-D",$;J( MQDCQ&'%$[C&-)R6C*:+ILT[162'% R]DRP:WE!(HFZ::"-HZ6UV&0T)/QL3Y M)PZ92]$L=G6Z,+*)2MU+.T/HAL*%/2S&C9#Q=&19PLM(LFXZ&33]<32SOH,N MFB$AU)F(D4\ L\LG1K)U4Y+U199U^:;?DK!49]<-?$#A&%(JWQ0G?(NB:M_! M7C_DLBK+MS67T-E4J6Z2'^8<8OFBZ*O50+N09NFP)._I>-5#^!9-L&R\RN-1 M(F7.[ILL4ET3T;(FK6S[!LK5W!1Z>=:V7:=' H#P"R,^J$9\8"?BPVK$AW8B M?EN-^*V=B(^J$1_9B?BX&O&QG8C?52-^9R?B]]6(W]N)^*0:\8D]B+/+W0=] M/H4TN6!Y^ 9R5G$Y-.12(6<5E[>&7"KDK.)R9,BE0JYV+D-,'@"5SR:($70! M?T5>_9CE<#-]L&4YN2M@U\O4SB&:>./H%L ?4.*%T7I"+YC!>9?0&8EOGR>U MJ5+M+&\ZPX^^*$3^)9)SM(>0$\IZV,W36BM5.X]L3/J-G M8L@G*VDQ'[E!9LHH)VLO)[E3:4@I)VHQ(_1D&J2YK?"\\C7B=4.XO\[%XI&-79M2,7A4$MQ_FTVC$F^^M=@I_DP^ "BZZP M&$O7SRM7+)1.L#J[?N20\SBM:LE((U _^KQCU*U4[CRN$ 79%4].A5"ZQ MJ\VI5J)V_)^'G^5[?UG\[BQE2;HZNW;DHCB/IB1D 'OR3:QYW%69M:,N7>,W MV :PAX$\WP>IBX _ .*^2NNIR;<-N])J:O)KQSZ8:0;.59FUHRYZ5&WCM1*V MX5?W''0"%J WFG9]!_.M#,0[Z(E9B82C95(A5CN3@?BG4'FS*?7CTS4SEI:. MDL,8Z=/C.@+E@C:S47I;0UF;.2F]L*&LU9S4?LY8VF9>:O]G*FPU*V7?W538 M9E;*WKNAK-697LP1M+V\Q+W859M2,>W76Z8(8X\ L+NFIZ[5@O;CL]7)C+%])JQWA#*$9X\@7!Y\(J MGA,:!#=LR-L M4N"N7GYC) N27RFGVE^W$IU'Z# &,V^=+5+3RUA'J0O8= "0=QE*@X/HQD5* M>AGK*&4_:5ZD4IYG'06IWA\O'^OLS-'R[:NE6?]C AX_]5 0OV6HMQF5RZBY MJ2"39GX]G1<_P 1X2.'R3>T$L^1+G\4"9B!H76D;AD$@^Y?Q$$UP]!YP4:Z4 MER16$-Y2V3HG9%N&"JI:$>L(R0D8YH16ATXG81V=R@_%5Y SE[>.:OZ+ZQ7\ MU@A91ZKJJ]D5](S%K2-:VFM_/_UU14_]'?31ZE>EJ[JL]8+6E2K3[S)74-Y: MW3I'#,/\AX\KAR5KQ&HD=M:*/^4G?OX74$L#!!0 ( *=I%$WU:__'+0\ M (_$ 5 <&%C=BTR,#$X,#8S,%]C86PN>&UL[5UM;]LX$OY^P/T'71:' M[0+K.$[:W3;;WB+-2Q$@&P=QNK>X+PM&HAVB,NF2DA/OKS]2EFV]D1K9EL@> MKBC:Q.:,9N89#H?#%[W_]64:>G/,!6'TP\'@\.C P]1G :&3#P>?1[VST?GU M]8$G(D0#%#**/QQ0=O#KO_[^-T_^>?^/7L^[(C@,3KT+YO>NZ9C]XMVB*3[U M/F&*.8H8_\7['86Q^H3]\?'^1OZZ?-RI]_KP^ 1YO1Z V^^8!HQ_OK]>IM\_S!X.3_O'1T:#_QV\W(_\)3U&/4(6)CP]65(I+%=W@ MW;MW_>3;5=-2RY=''JZ><=)?B;/F++\EAO89200Y%8EX-\Q'4>)2M8_QM"W4 M;[U5LY[ZJ#>^E_ZR/JI"M<)9_%,.L:TK[[M M2X3B*:;1&0TN:42BA8*+3Q-II08)NR>.QQ\.%'%OXQ(B^ Y"&RUFLH\(,IV% MTB+];<4\9U2PD 32!X./*%3V'3UA'(DZ&6L)VQ;P#G%IHB<<$1^%6TM;R:4% MT54'Q0I3,1P/9RI@22P;&=G,H661SY%XN@K9\]82EQCL2>!;&? M1!K%TRGBB^%X1":4C*5CR9[L^RR679E.[J1U?()KQ6S&94^B?V*2MX30Q[PV M2%6UW9,8UW0NO89Q@)DJFNY)B#O.I(=$B[L0+2/QUYC,E#?7B51+N"7+S-,DU'4*%5UZ[T!)G_$#^BE'JY"PWV% 19A&JIPB6M0& 2W%WN+]=$JB)$;+KJPBB\S*I>;2;3^K MGATA0B%&;,IG;Z'V4>"OL7SLI0H#@*!:W;[3R+_?$:"ED4 ;Q!Y4/ZF5'4B^ M)V$SO7;QP!$5R$\&=IBL,.K6\I4++#M'N$7:4B#LU(>!0F_%K(5<)GW"+>+* M=O/:P1)"N_]QP#AWGP$ ?WY)=2QDQ>* VDIF$\U'HQV&2DMS( MWW,4^"7"-,#!BH\2<=>BJ?Q8,4GKVP.OYZVHLC\B&GA+%EZ.1WNRUQ=$;13D9.:]QB)QZ3P M'8O>!*%97WE!'X>16'V2^$7O:)#6O[]+/_[S3 @IP'G,>::2$:)''":/_3-M M5VC6MR>PJCA*/U+_J3 R1Z%R[+/H7(:1A>R5R5*)7A$@>5'!C$>=<=]C7(:Q M#P?KH0)Q/^='Y<6(M$5?J-19L>D1Z2,K^C%G4Y.]4]NR;53)XB*E./">,9D\ M18GT%G%,YPOB'OM8RBY'M%L6,5$;V. MSL&QE/*641^6S&1;6A1;6YTPAEHSE1O92QF*@G-!5'?.S3(] N)KFN96Q_(( MT0F1B4 M)W7)9!B4DNO'%=58T]9V%@PROD%^1SO^4J.Z4<6^[^?E+,X^MA_*[4RFC'I4 MN-<.JK0]%:E/L;;5I\-><$/0(PF)JG36)KU5;1VH.*0%='"MH=C>=@?70Z I M-50K[)QKI2M>33S,0&([?#5!R:RV(YI7-^1=.UMAV4P1&:% MG<,GNTQ8"TYE8]O%(C R!E6=AB6_>'L>(B'(F."@$5RU3&Q7F+:"$6@:Y^"] MP4C@:^I+&) M/=SS1D8G#YA/LTH8G+&RM4-);RU8)GW= V>C&"A .-5O= #L...PZ%SU>K MI2& 4COW$XO9^_]BH-:?WBF'A*JV5A<;TYEL(E?-5JG*QK;#FN'H5'%Q4:NJ MR"TMD=0,'!P0SB'829+ M.*-!DT&UGM+V* 7539^_?C.I>!/]ZLX]Z]1\WR]J>2-_[W[+?_6M(KG]_R?; M[/_W7N4X_]#5>8::NT=RBKV&*;9AZ;&QMV'JO?I,42Q'&1S\8/&XPR?.A+CC M;&P:(7*-K(YRR7*3H>*P:6$[XE48MC14Y;5Q;D Z9R(:CM66KR2H83XG/A8C M&:Y,^;B>QG:0KH>D7N,*D'J6]U\N0PJ=I"=C#;VCHJG-L@$.0[6E,+G7+I3V M/@NFA!(1+4\_%FYPJ2@E .EM1P(M0,5DH)$]G(L6%WC&L4^6=I7"3QF/R%^Y M(XV59S/T1+;C!10X@.;.H362^19?9JO_1A-3T"BWM#V+!W]8.!0JFOW.PW:!'QJ7(:<&^%BY=>]N[4J PF?5U M#IYD'['*Z-1)FJ6L:TT-.9*1RO;^$RA4$-V= TREYEB(I.QZA4UC4KDE#)B? MK0.CT]$Y,-8*+:\RO)%3)\#$(MO8F;R[K$$!E*J)H9-E1KA*>G]T;@*[T>5* MZKN\2R:6DF]J91_QF'&\OE,3B\L7.2F2UB84\<6UM%BR3"XII3'#Q#P1YE@8 MC^:W^%#;GM^!177N5N&8KD6VE2JU^5JIH>WNWSVN&ENY%T1*>M[B:#C.7,!; MAM= 8GN&VSW0M?9K_Z3O)T3HD(Z>D!3S6H@8!U>,KVJP%3 JHAH:VQ/@#G$$ M6,/1>*RD%LI&6 RI5%\J&1/QI-;,AN,+_&A:F*HGM3VY[KXK@^WIG"?(F .9 M;12:VX%K:*YU29.'CYABXS*SEL!VW@5'6*MM3<9D<4.'^>TE MN2T/;[;9\J!X>@E31[8\J.OEI$QROC\GTF8?%Y^E!M=T/84Y\R,RKSG9T(3' M_P-J\^[6$*#B;OK*_NIPVF:QMR,]#1*8&\!JR M<2"6[@;N5F9S#OSLFC%L>=S^K'1GZ*J4=@X9&3FX.KQ[@9?_7]/R#:7&' 9 M;7M>NGLG;& D]XI%9>DK7J\%P39'9GNFV0*HVK>.N8WFZMK4)E!N:&RO\;: M8]$@WU#0K3WX#2"UO3C<8KAU_9QXI>2%ZYT:8ENBAL'[]AN#5V.D;P%A=7?? M/8X(3ZH P\>03/(G*4!(&[C $'_W32%>:[3V5V#*4CWPV/^B6WS1-P=6$(X< M!,BLF#TD[O$,+98U_)H+4:HUT-(#L7*QW--04T<#J$9_E7N+'>N1E3QL[O!; M B,>V)G_-9:A[H8A"II7UU,Z6K4TP%C<&@@TSCYG8)KPLQ+EBG&ICX]QD*Y; M36=QA+EN0*@G<[3Z" )II^K<^22;]6^O!O0!0T\'"U5[M 9@6\[=QKTXLW^ M#; NDSI:P]P!8IUYW$-6H_L5H8CZNZ4,E3SL'@I8!UK838!Z"D=3! -LY=,# M1F,XE]MF!P CF"=,=P; M,;(2PSNBF!;_8[I.\P)"XJE:#W,S;C8GK9LHW-Y1V93GW'R &Y[IC#5+9R\J+L] M4YA6?ERZ%O$613'']3<%_N3UO LB_) )V5[^LB3,WP?8YA6'(X4H7PS'(S*A M9$Q\5<)<;B"15KYC(?&S-LX)_W-1^)29DC[#SMOP\S8,VU/I$Y-/DJF>CSFM M%OQM4?"$Q%O3M"=;U:ZYG&COBJ)5[B/RLF(.CHI@K^A^]A(.':.!5 M%/WW+WBZ':9X"CDG[: H;4KDE8YOMX%X>OBG6K3C,MZJO9<[:]Q"?,I4)GKY MMPI4RWE2E#,E\I)9L?? $17(;S]\5\N8UC5-,IB9)< M=GFD;X*IO[QP[+.*,NHJ:KVUWQ3%S[#[TE"DL: M\4NCVH;,6]'9'M*,0]M@AZ'->[7ZJ=6[B;4!^T'U:8U:I8'/&+:]5TM>K>J1 M+:YEHXA)C=(@J0]&G>A0SO8NU%WS8;7XQZ7!LRKI\UZE/%J5'-97C-J4!MZ54DT:7+WX8!RJD+U^\D[Q.-:C=M;0U1]O%M";H[JSL MWM=--'WK/I[H^M7R*]L+R$W[5%:A#F+3B(VC9\3Q)JG26+.JH>TUW::VU2O; M@:4?<(AG3XSBT4)DE"J8N=3*]B)K4QMKU.S P+^3 +-S-)43'XUQNZ-MQ]C$@;).]%H<#V=<39?7M*3W'ZK'U1KR&P?OMQBY 09HOWA\8KQ M+R$91P_/3)=]9EO8/O/8. $MJ]>^39-S>D.J.Q:W^=KZ"<7&L;N@64>VU#OG MYFOK)PBWLF7W?OD@FQ@],VT M*<[<\VR=AU9](K%W&30Y?= >[HQNRO(WJTY M,\722G,FWP/-Z>DM$3=9#M-5POQ^8TU1GU*Z].E_35%H=-A1_WSB 26G_P7 M4$L#!!0 ( *=I%$V%$F64F1< "QQ 0 5 <&%C=BTR,#$X,#8S,%]D M968N>&UL[5WI;]PZDO^^P/P/6@\6\P9XCMUV[!SSLH/VE?%#'!L^,H/](L@2 MNUL3M=B/DGS,7[^D^M+!(BF9DJA&!T%B=[.HJOJ1Q5)5D?SM[R_3P'I")/)Q M^&5G\&Y_QT*ABST_''_9>;C;'=Z=7E[N6%'LA)X3X!!]V0GQSM__]T__9=$_ MO_WW[JYUX:/ ^VR=87?W,ASAOUG?G2GZ;'U%(2).C,G?K!].D+!/\+].;K_1 M7^>/^VR]?W=PZ%B[NPJ]_4"AA\G#[>6JMTD,^_<_!V<'^X./^\>'^NY<1Y?K,B>E7[#/ZU?[']/O[P='G M??KW\/\4GQ,[<1*MGK/_LK_X,R?_+?##GY_9/X].A"R*11A]?HG\+SL9Z9X/ MWV$RWCO8WQ_L_>OJVYT[05-GUP\9)B[:65*Q7GAT@T^?/NVEWRZ;EEJ^/))@ M^8S#O24[JY[IMUZ\(L@V/MJ;?YEMZ@NZSC =^9^C5))OV'7B=/1).;+ %NRW MW66S7?;1[N!@]W#P[B7R=I8XI01*R_40C(1?"T1@EX%@%GH]2MF9T"Z(FSRB7<^GFHS2N.?B05D%K'JA*MVC3?<6 M;?:X'33/]^IANQZ>4IRK,5VF;H'C]$F[4S1]1*0BNWG2YGEU@J :ARE!\WR% M.!Y696U)T^J81",G">+:@W))GN>9?NR'/EL8O]%?_]J2;)(D2DZN]VIRK;NT\,A:=VK]\A Z MB>?3-EU(5TZXY(0[JB,_6KD.TTE6Z++!50+(/N6X+ZUE:S)K2=?Q0B95(KR_U! M:D4I9,DHM)%T="E)B>:J_G% M%XPRD$ K;MRXJPRGO/JQ&ML@6,;!PGXD")TM8KI5 "J0:H6J'&T&<))!( >, MJX$R= ?[&XN=/>#(I@N^95RVIKW4C&\J*@3Q85V(RRDK]HE]%^)'A_R#OIA0 M-S*Z6J0B2C"QMKRFMG94\CF1"AKGSQ$LYU^W(00T?4\IKD?#,>4Q#='S%QO6 ME-O2T%4&Y!>T48UJ%;0S'#X[6A1D&H,5VYCY;TJW1AKMM^J_7?,\<0@Z?W$G M3CA&*T;$9EI TK:YE@]BK,ZX;HNBQ^F!@@@GK]EOQ*\65?HP=!VH(0DXAXS! M4^:U\MIV\XI10^\P<(:_9KP-(2/7I.90;'6UNJ3BDC"-(CK!#<%>DO)_.9VA MEU-,9G@>810N7Y7ZL'E#L87W#\%LP6\1!9QQFM]%KH9W7P/Z-A2<^5%,_,>$ M$D:7H2M$1DQD\P:3,5 H\ Y.$LVZ+X?L[ZF-2)Q@^$A9HS,>4+^4SC[J!@%Y MN%B=?0@$XP);-]1OHB([8RK2#\QR<.EL1U$<+2(1'KPJU>NO=7PKPR8-=*E* MV5)(9OFR<8')+6)VP64U8.PUA-5_X>D4AVG>'IB1JN2] :ZR4&:^DJ7\7491 M@KRSA+"T.R(^7@@Q_YQ*=X?(D^\B85ZQ2C^]0;F^=&:^L*U2+ MTD*5Z^<0D6CBS]8V!T9:N8N^@5Q-, C?]YD*AKV"R'31_]EM,8VPXJ%4=U>E MEF9;![&M@]CT.@BPENODE45NQ8%+)6*S(Y85Y#>M5@(NPZ-/ED7&E(B["696 M@401S+)&C MK-HVFR8'/1A%O)@2J!_0?:.*[ 8(++Q8-\^TZJKJH,KNPA'TS M+>I*(AD>A88-S*V&$>$) &+2+2C7(^JC(V5HN,V[2A34!P@60WN2@ M31.(, M1/2W(CST(_LV3=7S743Z?>9K0YW /).MA+/4%0N.]"77RP8MNVE)=5?4;U-DZE(^;DFK9MK8-AB 7O@R&[?6EPY+U+U9INT MGJN5J[?$'CAZ-1>0JL48U5*TM?JR/YF:=XR@XGR!T?Q(G?<]OW&C2Y9&:F0MGY,O0MD_W'WAR?G(!M=Q_&IPXAKU0# MZ44H,))*Y)L K+J@"BG1#G!>GL?R^AWQ?)%%LVRK34"M) \$SE'GD_#B[/+T M,F0I9V\X9?**)UVI^2; !0L&X79L9@+F(4*C)/CFCP2F4X%X$S!5%1-"^$.G M""\$CVZ1BZC1?PP0M22G"2%(-$%%5)N J50^",R/':^!L1..?\]^$(C61CGU)H"K+"<$\J>.:K^4;A#(E7J5#C++G:>7J>9J MY60]855:Z3"S#&$KC"K?,)!CNW2JF>0()P,$D8R9TDEG:A)9B_G7I&2*UQ+D MQ"D=?58X9; 52%3O*,AQ7CKS3'2NUK8NEUF< LJK61W.@4O KKNJ/4 MC4)494\RA\RH#>2*>XU!Z8VKLFP",R.+!9K!M=W#3ZZ0:=509 MJ387L(CKEA)Q0Q6=YAMU5=Q86:D$.;U!RCG4P5:?[= T=QRZLB1+M7X,ANX-\ICYEGN&'N/+,(I)>C$8.QB MW4)U1B4:P' *B,S'3LH\Z/OHM64/XE>RT4(M?68!N[WL:NM['K;>S:,(BVL>MM['H;N]819[W%'O''"?J/.-): M:-:7^#6/[[8BV*M'RR*"G):]";E"O+<5=ET_7Q:KXK3L3400XKVM@.#][?#4 MF?FQ$PA57&QF'_=$OUS&(>4>:U;NR??A9?@D5&RVB?VQ)THM,0TI]*/N\#4F M(=L\P2WPE/$!F+AVV^E3WHRZK&91Q4KNXU M[31PHLAW3Y#8*!2;=197JZQ>/N>@?G6O9J<$/X<48D]PS$;*9K&=/>C+@@:P M#JI8]YKV^]WOZV-U\9K:@[XLWW-(^Z,M2!S(/*EKO^5UORN2JY6GM@X[,=JTL M[)Q;2/M=GTJB.<=J/#)2YEN*)MU0"?PH8IO*V5B9GWNOD'B5TAD,007^06.E M%X4L_F]5XKI\*SAW,W7KZCM1/M4)RN^VE5G M0(*YA.4V-[[-C6M Z<(/J17PG6"]^HGSXB"!V3EQB9RFY<-3@S1")!J&WOS. M&S\<7X\X4D3LZ-Z(_Y4L%:OW*=UDVV7 X@8EAE]2MX.GTE-,3OMW-\!:K1"X M8>D&86QIU:"K'5B-3%X,2@BN#+ISV]/4%RZ\ HF3W (2>]#1WHRFX9$+#2*F M>UO'@O%P/*1O'>$XT38WEE.6W^NHHD V(7 U"4!W0/?&PS4OM\A#:)I>8E0! M QY55_O!ZV$ 2@!A4'NWW/:(J-:.B.KVDLGM$5';(Z),]Q;Z?$14?HOS9>A6 MV,Z]:FT/^G(ZOU ,*>@NRCF(21SQN\G/EEP+TDLB$CL06>1G8KJETL!8O"A M!0RDT34QD3WH+,FC 8>B'" 2^@O[2LS(D@$B$ON@+R>ER*4 %WC=IZ;RD=S\<1S)C!+3N;.]K]9MO1 * 2M=]CLK5US/I?2*9)IW5JU8_P*K$->C. MZ,[7TT?+%+K,=O9(FUF6P?Z++0"9![,5M>V I@O$GQWBL0W\ MXCA%H9G9D0FN3)R8G1F*E[W)EAIV$V_@*Q50O.$QA;JZ-SEN4 .?=F,#2? Z M3,9)%*J=V0?=+2+ )H/^.W2@#/K M4+,/]+L3)@YA[Q+5D5(@M8\[2DJH8*/,/[BZ?VP%#?^E)A990OM#1W4CM9$H MW[D@@2C:QZHN!*(358OR@"DE@U"[ MI*:=H"B^I9HX'XV0RXZ7O*'>%/W.&0M.-*S4S6;@JR0DZ&T8!/J5$R?$IXL$ M%405X2S-9L!9E@A< W%3GQLKU3H[(FX&X=H23@PD:37M\ESI'"J-4S0.U!4 MQ#$SUP%?'?ZVB]0SUXWW#<#/RD7=:'^!2)YN',R B&,EL MJ%R*,;C@+W]1N.SH^@H]] Z\6O)!R'TTR,W)^MJ7H4N0$]$E??Y_G9>28A^] M0[JFA!#6GPS"FKY"^=CS73IVIT(S+"3;#$2Y0H&!!)/B/[=HEA!W0D>>5ST4 MQ"7>#$0%HH&X:HZWGK.;2%AH_P+QC"=KDVW2.[WS!0"UVVTHYH9@%R$ONJ#2 M9S83LD$#SQ8!4>_04A4)Q,^D< P=;16#WFBCK%M!'!"S;K=5"M?8&^*'KC]S M@IJ.QXI^,Q 52P<"7#=^(SAL!H=W,79_GC++,/(I+;J;.-3=!98P$4GOH%$3 M"$2C;LP%/IYQ;:LI*U3P[SC,B@=@(B?L)3*J8H'XU V2Z#H?D"VWS%FZ'J7# M:V["%ZLP\@078$I)>X=G-<% 1+L-GF0,T[BMFH"A@2EUWW=?\&HEE4&WA "E$F.6$O<.DBE@@ M/IDP1JLWJ:;V>X(#RD7$#O*+7Y4N4#W<+UZ@FNWH+]:\J]75J=LK4[=7IF[L ME:G;_0"Z]P.8<_;7=C^ 7G?"!(2V^P$T[ ?0 ^3\Q"4L/78_W\XV=<\ R*UN M0P=XY:MKPH#%AC4JM#%T,>%P"MJBAG0(&I8<;QT9?5@_/ 4V9LYUZM!(LUQ' MS^UNP&(A[O,7=\*N5%6\2%% 8G?Q[@V-4UR!9Y47ZR[?X-+*P&6X5'R&/$QB MJ+&6,P[.AFXCP1D^96XDKVU')\A+U8REG!OJU[\-$",7$&V@F>S&WR'BH^C\ MAG:)"$%>RK;,IQ<0V1V=$":8*K@2[Q!.NL\)+$=OU?8%2^GLCLXK5=L0K,8^ M!$+WE:#K!*KRMC0N2>LH559^N7H&%L3,:&"VLF3%^@5BV^>XY36KK*J K&^X MR871_7*NJWXT:Y]O'')-4@/C_7""A&U'3E\K8!#5Z/N&9@6IS/3;\P+,B[R& M23S!Q/_/.O,I@[-(UV\8N=) \'5;8[YY3%] MG<11[(3L:)QJN&4(-P&\HCB@[Z^[SK3,"O6H_''(3#G@]XN)>H.&HB@0$MU6 ME.89_X%C.G!N_?$D%GB3,$UO,%.3!(*LZY+1E?^KAA= T#>P1&) 2'5;$)KA MN+J[KT#<8P1K.?H=;YO-L*_NY@N(>@Q?)0>_]J[8AF"3N?< 0>_A4G#L.]YB M6V)9R:T74?4>-%6'/KNYMM6:;<:Q/[^G[A2';%U&H>M3XQ!Z#Z$[WV/%3J-9 M%%^O),@5< ^*!=R97G^U(_1'0ADZ?YH7TPO$ M.2C5HZ^HK3GYMAA]6XR^^<7H]VQ67(\NJ?EZ\CUF (7%)D!SLPM-A#*:EC\J M,?M//YZDI:2LKG?BS^[Q.;6I\D+FRAUU4YXB!D<"I)INC*M;Z0ICDRM>&AP' M1I?"Y)V6>_H\2;D?1&"V#9;(:5HFF,.N;"X*2#HJ_).H7 J0X594)T8F6T9- M./;("DI+ 7G-.]KE(Y\W0GR:V_.S+4BOO$9M"]*W!>G;@O2&0#-Z_4GKLR_J M%*1SB3I:BRK6HX.LF^F3 WN=:QV4T(?E2$%>TTKUE*Y,5P;)R ,2%/?2PQ?& MF[9F-8&9R2N99ES;WKT;ACB\V^2QQ>?LGTF9NXF&"14!6G*5(&J7KXKS\ ?!-/JB0@>R=VW=UB M)O@!^1%( (G$G_[]<9.@>TSR.$O__,WK%Z^^03@-LRA.;__\S>?EZ60YG<^_ M07D1I%&09"G^\S=I]LV__]O__!^(_N]/_^OT%)W'.(E^1F=9>#I/U]D?T66P MP3^CCSC%)"@R\D?T:Y#LV"_97S]<7]!_EJ_[&7W_XLW; )V>6I3V*TZCC'R^ MGC>EW17%]N>7+Q\>'EZDV7WPD)$O^8LPLRMNF>U(B)NRMD%X_W_>G+UY]?JG M5^_>OGKQN*:HSX*"/F*_T4>O?N+/5Z]_^/D5_;^W_]?R/450[/+F/:\>7U7_ M*]7_E,3IEY_9?VZ"'"-JBS3_^3&/__Q-IW8/;U]DY/;EFU>O7K_\ZZ>+97B' M-\%IG#*;A/B;6HN5(M-[_?[]^Y?\:2TJ2#[>D*1^Q]N7-9RF9/HTULAWD.3Q MSSF'=Y&%0<$I97P-4DJP?YW68J?LI]/7;T[?OG[QF$??U(W/6Y!D";[&:\2K M^7/QM*4TS>/--F&@^&]W!*_E8!)"7C+]ERF^I1:/V(O>LQ>]?L=>]"_5SQ?! M#4Z^04R2LE!9K_>]LBJEEZ[!7F$29]$LW0_U4-L3?/KMD.(9%>CJ.Z_"*BN" M9"_P74WGL"_Q?BW>ZKEO:3J:X/U:NJ-Y%-B%"'ET\\K;-6$_7M"_]2#BQX(. MDSBJ0;(B-#TP?P,?&*JRF]*SL%=NPGKSC$CKSHM7G]X&P?8E&S5? MXJ3(ZU].V2^GKUY7W?>_5#__X\,NCU.?TJ7L\_?V.4 M?CFL =.;D+H: 0D-;5%)O PS.I)MB].D;/52?4VRC06(JLDRH^@_DINF[+*% MZ>L5E>B)$9QSQV64@;LUL6O/"M\FH?+,#\3IZ>?E-_]62Z.../H[4_A_?WK9 M%K\/F9@#=MJZ7Y0@[)=_+-/L)B"_9 GS1_-/>'.#R: J&CD7I##"9'10"GDG M@@G9D *E**IET=]+Z6/9?T4U%NO)+<%X@]-"TC.HQ9Q97P.R,;Y$!H;MU<"& MIF>2*%NC1O;(G_Y=0/#L,;RC&'#S3DT7H)5WUQ58P&Z[!(TP#'I8(!2Z"*:" M:ITN70[45QS&\;C&"9\JT#G"TXH$:1Z$;#S+/SQUGVA\D3$%N'1/QE>LZ['8 M:WLGZ-Z0AXRMQ!"7.VZO-D\+3%*^-!(D5R2+=ASK?+/%C].,;#/"GZF[N9$% M..OW]JI8TQ&.TO9.O+TA#XDWOYI/C^U"?9HL/R;4:4O.XKP@\?1V#Y_C1$LSP.'(\=#X WF-RDS6K56.; MV/_ M_P4Y/_$4:QQX <2[EQV*;362>\]AM&-2#$)CG@E=*R!97F'TR^;(%T] M9)K!1"+E;@!10FP'#4$$AH65N(3!X06J18]N:"J&;4S=E?-@;!&FQ-RM$)1^ MW 30O>4GQDY[*.',VG)HC9TG #MM*::A4211JWX<:?:G],="9::>]DL88XY$NC@UHEQ+2.OE#\\4SO M,?2>NQQ--%Y"YR$,DTL0R<83*G-L>RY+&DVSE Z 17R38-O^P%;3W0K=J*JT M*W=6:C!X,PJKL-)7]1@=;=>]1S^&2+LDJ!3U%*^E7AQ4R %AC!:<*7"+RA^; M$I]34NXOK.YB4FU+Z'BAEW?HA9AA=YP0M3 ,FE@@%%V02@5QG6I[R %C)AL> MOMSO^31AGWIY=VN1%K#;E4F-, S&6" 45BU+E>&@<_3X4!FY]9L4)@VOW8QF MXT(O#H,X5A@M.QNF!VS591KD=Y,T8G_,?MO%]T%"I_*Y9N%%I^!R[<4,O+O\ MHI;VSC)KB$.2,4D4I-1#9G_IZ!QH)>9 !,LV&TS86M%5L,5$VHD99)W22@>W MQRB9(!PR:= )/&ID$1<^]O@VP*9=GU'+.AO33'";T4PEZ)T4-NB,I'"PN#. MJ)U7J65]$4,]GU()@B2&:1XE$,/!%.IJ:[G(IQ!T1@DMT(8/4BD89-!!&S*A M,R]*'2SFJGQ+II+WU$)JID%H4!C&,^,S]!,#9SSR]QSDM6^N5#H5/3R$)@P0F>.).7BU_A(.S]HNHVHFF7M[G JIZPJD3AL$4"X1V M2Z<.9I]53%-Z.R&$'?+6=R@Z:6=L,4-NN*(6A<$4(SY%"%IZBSH:Q^;(7Y9_ M*7T6]C+]@5.EJ#-V&, VU%#(P>"%'MR0%%0:=<3IWT-@,X[E74:*%2:;,WQ3 ML.PCFJT6A:S+^8<6;G<:(A7T3B$;=&*J#RI[6E!AQ*1/$,\17 4TH#44:A5 MG03VNZ3>-XFL=HE\3TX MF(Y8C1@8CK55 M+=2\]S+CL4I8R#5/$-?EL4.-]D']W,/P\E=\%X>)(E96)>22;7* 76+U)0&HT4,&XLUNLXQ'8,45)8 MT>49/'-!$RD<1HO> ^\TD*$1DK+QM+E'="ZL;/LI3N/-;B/M%B3/7=E8"JNV M<^\A"%O+$ G'@4L9 -_SI^!1;_/^&]4S$/!N7QTJ22:O1M"=H;61&U(Q#^96QVE(9* 9 MW125T;.[@V",%IGV%(!4S(/MU;'_$AEHMC=%_/=L[R#:?W4]F0;;N @2M>%% M&7B# 1@V%N!2K@0Y7J"*KECV_G#Y62>:G:<^L^=V5<&J[%M]R$, MNTH0"5=<74Y85,S1U425"[K(NJ0"VJ9>&$C!LK((E>."E M'&*"1_]Z21RD'S"YU7S 0Q%WW[ <7/L9]Y_#L+(4I($>1Z' M'["FCQ9EW 6-*."U42(# 1A65J 2XD!*,6KHH_?;4Y(]I)16T:TN6$@410*>@VA-DV?MES\+)5Y#(DRVN0F6*6CQTBE#U@\GFK MB0WJ"[@+"I(!:Z.!ND]AV%@&20BY*&6./F6>3LH;F,YW::29- MV-Z@/MH@'(6L1R:I@W"D@E!9I.V.! X!ZXZ*H.#'.7FWN5@OBRS\HNN0U/). MB62"W2.32A@.H0P(I6,M;Y.#-FYQFLY&=S,*#??=C!:ZV,U(Q;USRAZCHIN9':V;.0S-)@\! MB<[HX*QQB08R+JDDA=HN MV^5!&BTQ<]4QUMQQ::?G;@U_1#7:-7T+)>^D&8M46/,O5='K$T2M_^/1]WQV MR=-D=[O+V7G!)349?]MB/9)=>Y3BCFM[5[%EWN@B@/!P7]P"*VE!)Z@LZH0? MS&E*8_,Z)TR5?E/QXS[]7E_+0S A+/*)3U:6<2$/?)B2HE+V$6[$7[\#_RDK)T@ MYY89"IA]:@R$ '%#CDQ!CDH8<6E$Q;W08T4"=H_A\FESD\DJ-GCNB@Y26#4- M>@]!F%^&2(C1*&50*>3%V/QV.3:&G2?!K:0:@^>NC"V%51N[]Q"$L66(I/?X M<6^!"7DQ]G1'" ,9YV&0_ T'9);RM29)C=2BKBA@ ENS024'@A@&<,+F92F. M2GG$%*A?6:[U>6%,[>&RZ Y)]?J/73%#!JIF0_<9" 9( "FG$4S&JYFO,(FS M2-TK*.1<&UX*<\B GA H*LB0*3E1"L/H!:CJ0?R@A0Y81IQ #298C-1!;N:OBC2CD! M/H\33*:TE[O-B'I!8B#E=CE""K&_&-$3 4$--2[%0@071;6LST6J;+/)4A[^ ML+P+:)LL=D5>!"F;-JO77+1*CI>O+"HP6,O2: !BDP5,U2H7URQC6DY0J8PZ MVC#"6YJXT\6ZNN.%CL%9'FLV;\:I>HD)MJB,-#Q8H^>=DWN %4*N:E6VP=PH MHUK[P!LY!XB]RG-D:#37:]-A,OF@[D-;12R+IFCA=LECU00 MS"BD0RR,/ABPQ./_##RPA\?BJP($EUO8D.&%2L$]2=?D(AQ24TT8M8N M$W=/%S5HD3FB+)A.Q0!0O.3[$4>@**2\?4WMW^I50-R.I_!_=?)@*&4!4DZK MTL4!Y!L//P[+;\AO=V33#4$3;& W MIY)TPMY[$EN$\AD3I-%IGA84(+L\NB(Y+F:/8;)CN[L?LRQZB!/U>H*-JMO5 M&?O*]%=MS'K>.;<'6'%YIU8];O]T3;^$:H+7?AJR3T@AZ*Q'T@)MNB*IE'<^ M&*$)-^JQR54E#*/SZ:PT&7T8A:RG!3Z]-R,5A.72Z"#"'[5*+%IOS8>/J_9L M81F_ATGP8A>KR06"%#=Q$0, M&5NI+J=L=;V/47L"'E+R8C[Y,+^8K^:S)9ISZ^4?T.P_ M/\]7?P-'5;LX'YV")SI:1/RHI2%2;ESL3T<12 !0O55_%3RQ;7J[2(NAL(\8 M"SE@671%7Q(,B;3PE!$5VU(:#'G(#D?BYZ"NLDK>,87TL L^1@.T-'I!)VN[&N ]S?69=)@N&/%IZXMU[E(B6E M- SR7&8%MAO"I)(N::.!VN6,1 P,8=385'[/-B/L ,4)2IDJK$&L6YMKG 0% MCJX"PKM1?D_*.L:1/:>,)?CBFF755!PTJ(/DIAWF<9Q%I[3GX\727TAQD$.1 M!Y@:XB#'<\J'M(COL55'J%=Q.CVT -^;(&KDP?#0 J21> DK UAO:>WK^W;R M[;Q[SVZ]<375VJGOA[EUU,#1QCK@S:#CB4QVH6]:!3B=E 5*8;TT2V]/5YAL M "YF,6P,6M<)4%5=*NJ44QJP/2I)Y. P2 UN2)S+K\GU-VX9VZG"F#X-@*LEG] W7A9?SRF[P8P*EJ/AF =+S<[GT_GJ.QCTZE]HIDL7(95T>]Y$ M";5_S$00 T,A-;8A=]I+X_(RP=;_?O'JU6OF[*![IG:"7K\Z>?6*_S_*R^1; MP:ZXRTC\.X[HT^9A?0_="8KSG.T;LN01&;0\79T\9-J<)8*8T_0D"I"]3"0# M&3#<4P 35C'+M&YJUFEI]].;DW=OWIV\>?^6T^SMNY/OW[XZ>?/]3PKRG5 W M/M_BD"VR)D"\^$D4\71A07(5Q-$\G0;;F+H&JMU[E;33B @]Y%X\A%P4#$WU M^(18B$::DC2.4)RBL%2 P:5K7 1QBJ-90%)*]WP2AKO-CD]C MZ))A]A7IDLVL!89WUE EX3BU((I*21C<$_U5:\?6]TS!;H8 :X:IQ">?:';% MZ>2 *]#)04D@(),#4VBV>:ZM4(,43&]8QI#JP&*>)5KC@D=Y2>=7P,O^-.HJ M( O"4[]&W+&]PH1G([::@ZF5_4UM3152SW95FF[Y2IFC32(U"K/R6O7M<(;< MS%(@DK3,CSUIIDI632,J^2.EJ@)J,@XUH.4RLT)K3S]A-@R7AG,^%Q_1++6" M;_KU@9NH5TJ#F6$8(8[F6KFF I=GZEL>K+5\,TYQSX.E"FCNF6]Z,!(0\C+R M2+?02M/38O,8A]!"#0PK[;'J5ZF!>7["G2I&MT^KX8ET-@Z?1APBR2Q]O#ZY M@/IU0K6T3IU2VBNYU.Z<0A0NJ;2.G)10D)RW$?=SV:EXI97!9P-],]<(D%8L M ^>AS=,PV^#FIB9#,)-2VFWJ."WD?K8XJ2@86NGQB3GAF#1JK]6"=H%6=>19 M%279/G:[5=H'U=\0+9^!(<0 D# ##!)<)K5E5ZI%<5ZFL8!A_6F6%XLURVO( M]STPN8]#G"^S1.T%J1730#E1IGB9.$)>#%*<67T YR$FWB-&9U87&/ M%5A56(FELM. G5$5Z@7Q6&F"8> HN.+J.5<^0;>E.@^O"'H%P.#GIX!\P>R[ MX16\QZ2(\_:K4S2-2ZJ<3!$,N,47+%6Z-1)S*$P2R> MT)Q-3]GE/R6PQJ]4^:E:%>=9Z W@A63T"GDP[+( *5[)E 9IR(9 I@>#6&Q^ MB_.<'U8YQ\HU2U',\9U>4I"#>[QZ,F"(H@ F'JULQ= :0QG2ED$2D#*$^[^" M6R4_1#&G,S\%R-X<;R #AA\*8)(U;R[&W><')@B#(,)RB.VRB>=%**O%)UAK MEBIXYA6GE]]>9'D.Y)Q$ Z_7 NGE?9.(6N(PDX= MU6$K0KT0-K3.",HK11@]V#PM, 58Z!<7!2G']U'*( ZNGNR*N*'-^Y(V*;YE M:X2ZH4X.3W*O))>"MYS263X+,F&2,&A'ZT""C$1Q&I"G>8$WEYC6 M9!4\*AI (^^29D;877HIA<'0RH1P2*>>/&(*8(:Y>HYQ3NTUS5+ZA>SH1]). M*#Y@.CCC4HYOWPAUY^DRJ2;;X>&>9-E=*_O\([[1?4SO49M.C L^RNM@S7^/ M7U$A+S NJOE+M?:";O@;ZDD-H%W+IM*5R_2!#E'J2$.EM/OO1 E9Y+@@"J;; MU^.3[!+@LM70%8?9@,FK'7@<&* M.GM9?7SV0Y#'X22-SN)D5RA/!QJUG#J;=E7HN9QZ%3 ]D!W.(=6X%%^;J^00 M7SJF RKBI:!35!W]XL?%8!#QOW!\>T>Q3N[IN'^++W>;&TP6:^$LFV%)>7PQ M+JFZ;R6[W!U;!A@R[PE\R.ZZ&%25@\J"V+R]+ IUR@)R3XVNZAVT=IWOOH5! M(;JYPK9T5Y?T59#>"-_G %=K*=!?G>>9 ^F0S%Z%;<)1LW@ M^ZE&U?)@J&@!4HAL:0[RTMZ5*2&N!>Y8+W6N&3H^!8MP].'I=KL5TY8 MOO RWZ5A1WJ/@AS/DO:LZ& J-;(4,"3>&[JPJWTUNYZLYIX5Y-5=IC.Y#BO MA(D.D?AG/Q\"^0?8K^WO(QO(=?0N[ M *&)"D)!\R(@$R<69Q)0FE*/F;FV/!"7D(#6KQ-[LB#4#8XWJD7-D64X72S? MIWJ])?0Q!8#Y(O9!+;BFP".*N@>6%,W0%_%UI$Q&J^YS,*R1@-)=K=$5AT$) MVM\3=L/[&2[_[/3PU:4UYN16U@4XWO,;6;'!-J"E-A@JCH8LI+.YH_]BW5=O M],US7)2G2!)HMTJ*-:;?&D_M1#T:'-]K;MZV4_7+5W5E]$P5]> %75ICEO2F M7)#YD94D5#+.TWOJ]&9$?0&N0<A[F26QX5]]](J^.U; MAL#U'4LM#>WN%2-22<((_A@JG^K!]2IXVLMW:O1@.$Z#:MAY3942?*[) 2O] MI6TI!IAZ9$<'\7:.,:8A!%7O!%14QLC!@=Y704,Y9@D3F6!]A.I89S-%A->8 MW2\#!72>&(*3:BNF1[ND&"-- L,2)D\^$Z/+:Y.T%CY0R=H5+?.UV? 5HD;2W+6+N.']GU\GS-#09I M[6,;GAT< 35JY7G1*N!.!8S#+0N,B"U+S/H=9 MS6EB/LM*]!+U&72@+35;XA43*04INC[8GH9B,6 E-V:5SX%V5+0NU$4HGJXH:I[]E/ZZ92*V M'Y"F *^=E[%BVFY,J0V%DWLC%PXA4U!W=';$)CBXECU!-[LX8<=,T+\&F^T? M4;S9TN&;SX2@,GF>%K1>,>V>^31/F?S6K.>5MZIJ:.DZ5 +/4@5@(1E8ED4/ M<5+>:]'JH G\.;C$O7VV?PQUXO*\"LBT(7D<@IR1M[QT37[2F9Q MQZGQM: '*?*ELF!(9@ H28;#Q@4587 X%NS89IK=\;-XFXO)M:#[E]4+)>%-GDQX/S:-KJ[ MU;'LQ_0JOOAETX_IY"'SS+([4W,-6F_67S--^86!%*;EX"EH^!H[%=!50^= M'.3(*<=H/CP946$4%(ED/33 M(95LIK"<13D3Z7&1'4X'0L!VFXAVSM7:^F+-;\1@2_'%DV&)5*?H8V':7!'9 MRK1:"]JH:XU8G$K$E'E;3/]@=R[7:13*+ I%$*-X*Z MH/>\A;RO8J5:C=N\4GWSA-I[+:&M3S.HDS1B?[ /\SY(V'=[Q3_ 8:RGHLG& M%>&2POM4KDOB,?JP:+P'F2 M5VQ"/UI"GN@']FN0[$;8+\[^>]KPK0<;SE*M/S0.N,J"L\LS.]LY3"^ZVVX3'L$2)'4V MRWE*9P^;\E)Q0Z916VVG24?'5:F7?]1.%8?7B\]75Q>S3['(UN4!G M\^7T8K'\?#U;,HYRRIY?+/Z+#A?GB^M/D]5\9GB'($2JJ[ZM8:5A7JRRN^'$'* MQQ6$ XBR*P@K$>\,T>-2W3T(@Q'L5B/*[398*8V:^1R_]LA\O:ZMON-K=L=5 M:W#=KITR&.:-12Q,AQ:7U:@F"<\!TG?Q9=[R3MC7JB&_)^(VF;L(KI^\O7T. MAC424$)G5:VUL]W"ZGY=L#LY"W(;I/'OW+N;9FF>)7%4NGII=$61,T^0_7.Q MKKZ-(&ERSYNZN0.5[?3R^D,V1^^Z^T,4#.8C.&1MA/SOG;)/4*]T'I_>+9]] M8/<@!,6.L/V.YO)$U: D$73J RB!]@9[00H,-970A.%[LJ)S4S8U MK6X<6%P"":JMTA6Q.1.E?FB1SUZCX#0KO1%X+[>\4AH,F8P0%9FFV+Y.K0&N M+UK&MVF\CD-V<$VHWPH_%A\2=02'K;)3/W)4A7H>II4F&#J.@BLNSGWZ-+G^ M&^OPEO./E_/S^71RN:)3ENGB\R4_[G^UN)A/#W"T0+$H]S%C69B9.8EJ&5@C MYVP13@>S67R3"7FGB0F9>.R/]5.5++QN:G?#+F$KJ&=WENUNBLE-MBNZM3-V M52,*<+N=,+9B_1T%6VWO?-P;LD#4!>N>IHO+Z>SZ$@8[F\3(9W$>)EE.?4[C M'0$:#;>+Q4;H_85CI3@8AIDQ*A-;HU8%7!*:9MF/3R4,FFJGS M8NF4+E>+:TAG-N6I*PP=F(6>X^!MNVH,@K?U2F"89HM4;5-5N16_V-4OB"3U$OS]#L/S_/KUAD M"1#>EL>_SC-,*\Q,4G9_:SVRZ(X1^=Z;^\] O\;#@?. &DBQ2'^@-8+Z8HU1+6 R? M3J\_SVC?_=>KV>5R!N.;*N]V706/(R;N&@W'Z<5-T ?9Q%7B8'AHQBA.W)D& MHBJP9^Y"OBGE]#K@"&9)5 QOT1Y,R[70UU%3U[&*RHC[>U81.V-'J>G*Y9$&P8&)IRK/EAAYR*.22=7* 76+U M)SZ^4?^ KCZF\P^,DRL,1%&2V;1M.,!_K@-.S-P@V=VL@R MG)["WZ=ZO6._8PH P]=]4,MR\U1E\+7+7BF09\16E3?UNV,+ 4=J;0\\KH2O MB]:FOIC.M#_-5VR#9WG"(GU80.+LDD4C\NV?SRST9S697\))?&^$4>E/+@^-6IN!U,S>#[0Z=:'@RQ+$!* MLM_1@73+=JJS=?\P' R6?699_&9Y$6^"0IG0;BCDDDER@%WN]"7 L$4*:\B/ MS^6-4HT8#%)<8]IQ[O U#K/;-+;O?RSTW"X(6U:COPQL4 )#,%NDXFX%UT,= M1:BT.\-K3 B.JB?6#2'H^:6=HAIZV@V4 --.CE3HZE*6YA5'J!*#P;GE7;S= MELE#?@G2*.&'6O+"KK^S57;JS(^J4,^SM]($P\-1<,4\[:4R7X.KU1'3?_80 MK#@]>1;G[(;3;HR6GF366LY.5MI7H3EG:5;QSJ=Q.(=$JA511Q-&SZ9(&&LW MD;33!9#YUV)J::/HG87[H!768%F2ZHX6#!ZV]X%;DD^GX-:/,P'O.W J:3#< M,D)49,/(#WBG^X$/5MHQ2BWNY4"E!9M4LF"X9 "H.JX+9G1LPDEM&:02]Q+8 M:\4@N2P@!FD!JN/&H5!H5MU:4IS3M2&BO#N*\K04M;77!\',D8-4Q\?[Y MLX_S(E.(H+]C?U1K!:P_$VNPGZ8)==)0Z&=F:, M8DAE1X-OLW,-Q%2.=3\%B8LX#!(QBY]-/[=?$>YNL=BO41B=W25^Z%219"G]:U@F71XS1(\OQNU%A_M5LG_=X;@RO-/XF<#% M* '6J?:(W"L+!IV57O3>,R!H]PM$NX%[EMDF-MF^18 M&-;DIX;;OYR^>SASQ=;1C:$%HXMQ&F2P9R5[X08CRP##Y#V!&WB]B?.+=_2EQS BU XM&V=KAHH[#!>7MZ4LLH^IQ60U5U,>(U9RFH= MDP]8KC/7]Y#-T/C#ARC4._D/79,]OX9=_0)4L#<CU_^PRVG/DN>3D$Y/\_)T!B9L226XI57^-6-+*O6M MJ*44P9&B8]NW,)>CQ_,JW!UA]BO).Z4/ E_,;9LR MC]1OSA[#.PH%GV?DFB(E<4C=;AX"D2_6940$3^ B^[+M=9WUHF.KTW2FMHI. M"4C9HQF/1T(6DCY5ZOS64](44-^%RF9H UK^ 85EB$S.BH71 WNU>8%XV M0_D[;9\E)O=QJ#SY.K803]?OCJB@XH)>BQ+ ]+![P99=\LMV-=2D[E*_2V^V M#A%B4@1QBC*68YGUQ3GU06#POLRD]0D7=UE4WHW-_.S%0TI!WL7;=BQ2!<[9 MZ[O/LS>B6F(*/@ME,!P?BUAP'!H!1NVLUJOH?JQ5Y-UF$Y"GQ=IXT:%A^K5G M0>[6B9]3T79A>)]2O#/TV=#%O#Z\+,;33FFR$ IHDSR[X^E>#Z-;'#WW>=!< MZV<20R,,QN0*<\?9M .WW+G=$/ M08XC.M_:XC3GRU0JAU8A[#9O@ YP/T^ 3-+[N&0%3Y*.LQ%!^)']7<^@(UJ@ M.5)WB?47>=+GCC< C-VT%!OX0X#LP/3YV7PZ3UF >S39,(=#44.%K.LC\$JX MPR/O@B"4'2,;D,)9 AQA$B3H#&^S/&9'M*A.0!L,33.RS:K0[V]9<=^=H( 7 M!8-BRK"WSSE>[Y*+>*UR&ZTT080HBE6QBE%LU<",'?98M>>QFI#$$X2KS&X1 MVO$BJ*=RSY:;"*)]ZH;->1),QRH89)VG!:U3S"X4RW- &Q4W1Z6MJ],?Y@UZX$A[ BPPJ7LU>,CS96&]\,;5GRTXL[F3A:@ MFSF41M8[/2P!BI0HLV!QE<,MMB@8TG$'+0BBDW;&#S/DAAYJ41CL,.+3>.]' MIP:;ENW8I$.&O//0W9FX(:#VM%O]Q(U9WY=F3?$M M$XQ_5]BO?>;,?$,XC?7J!Z",-P E3(:JQS!\1J7+3%V1V6/EBDR#;5P$R05S M=:/24QGK@1N+ S$5LJRTU?S(4);W8>1 %1C2>[%>QW1B?[XC:$61)S97 &NC=?O M/P=E;3DV(4:_ED*EV)&L_&L@8\DRU7.H4'';;B[!?Q^5+M& 8PO9X-R MR*U:!_UKL-G^$774CC6YS,B7)%X7BW2X=R(^=C?%%$&UL\SVF7=+*P )D\Q* M KT^LA%7#YD.(7_LW(@=4((1Z3-81FP!*8WXYEA^&MF%7Q2?8?O,G64[KIP1; M/G1KRRZ@OBG9$T"6[,"Q,N2[(QLROE=_E>5#QX;L !H8DCZ!9,@6CITA?WH% M8S8["H*LF=693 MA%U SQ$[@FY?)/OPN\_A)#_2HA//J+5"]5&3(WW@M)? MLA7PYOO52L/X:&T@2L9HIH,J)6B'7BMXG<-YTQTAF/=)E]2^Y3_4[HV5LF,W M=42%!DZHA2:TWFH4:A4Y/9^54V3>'>;/LQ!W/)KH-M]L4(IIVDMGGBNACI9% M4KVC!<5\"O)_XBC^A#F)OJ4GD%M: M 4[H<&"T]*?E'4Z_;()4T=2#YP!Z%2VL82M_>H%J21C-O$BQJ:4;$2B'H4WP MP#[>YA&,$43 (RQ94H$[+@!C?LHO)+@*GE@*^(Y' M/6Z>.K80I[=;[57!WMU6HTKPSL-GP9;1%4T 98@XPS=%>RE%W26+T8-L,,7(Y M&#S0@Q-ZC!T;.G@VLRQ(RPO[N$\<4?43%+4%>!G8J2L?T;EBG]JJ$5XC#&VH MMX$JB0.J+U?DXO6X[\,P["H23,(X2*Z"+29JMTLE",P@1ICB="/'X8Y?Y]._ M\Q(5#YDO9[A)T-FOC6@:K2 -SSG*H [J.:)*$(Y9[&#:FX6E*P!D M&MU>FEH4MGEL=M8T71K3/O9FSP Q.QG4-X*F>EUAEYGE](!5K&DE87B,)GCV M1%E35:^?\E^6?VGOW,GG::BPB$(.V$=L0CDT#)4_]E>JB'2SR0-JK>HNA=>X MRK19ONST8'S=X\!:1RD"O-*GN_]S'H18>RN 6MS?/IP(6KT)U\IZIYDE0'$^ M&Z=AO T2='.8):BC[.I6U[U>TZ]@MEYCROU[;+R);V09'G=^[:JGV0O6%P"4 MFW:HQ3S*I18B!]@O/@99/['KM>/BB2W]6;5#7\$?#67 U9SK2@,EF 2B$%%7 MB?"55NAL4B_=C]2%P3'%XOXHQ:^ >>;E_UKZA%]J)D=[]OW@P7UC)3NAAF F_'NA'IKN M(DMO3_GU1"G?(=J6Y8 SW#0)\CQ>QSB:[A7K.E3_FLRH!B]<]5 ^M[?EL^(4 M28F2 :]P=V?[AKW[4>H.HQQ'5ZH3!&FM"Z.?'P]8[/BK$LK%W(IPJ.@48AT1 M &&^/D]#PFXM.,/EGZ.GAF(!,&;JJHK93=.'VM[INS=D<;$RVH48Q=#GZ5>8 MQ%D4A_0KU:0.,^CXHZ("OII] P6@A).C%%8MRZ=UQ!1$>EWC+6VE.W9?R\AE M<(6F/ZIIJZ(FG%0-*.UT6(7D!>R&[/+('NWERKX0;9MU],-/!4YS M.NR?RS/7]I\[\_%DL!HGKOO0N_E5B(9&;D30&ON:NEV1+,0XRL_IK],LI1.> M@EU5RI@K^_HTXO"F9C9@);&77 >Q9D)AJS4,@3A!M^S"!8C# F7VT03*.P-98X4N6" ML-!S.3Q:5Z-_?L2@Y)V-8Y$*XR$78ZL]82W*UA>SLKN#Q$ ^'6$;@"M,-A:' ML(U:[MEGK(+(/:4*,.:96EDBZ)I8': M)9-$# R!U-C$Y4$J>036*%RP97D*I-ZHJ688IJUB&RUWMT!;5Z%-@FM4\YIMM&VEZO\X>#TY'6:+%I_"67;48!,N&LA"/F='$W;%0UJPZ-!Y MNL[()K!,#/V0LZNERB>+,[T6"BY^Y9M*]!^RB8-(%^R)4SA0^[H M_0&5FA!/[;2^N5V8L4+>]6*B%O9P_5 J[)U>M@BE^Y (/X9W]%>,@KIW Q@> MU%W0:FIXCEGWI-U3Q&M,J-?$ MJW05D 59%FS!BM\&=H4)_V+D6ZXR&'KKB#G>$*D48SG>_9\$SI;2GN9V)80I1,/32X]/. MY(Y'+$V@45RF5*)S3_9RG(9T4)ZDT>>TBCA@!_4LEC_W+LII>-(S*MN+7-JC M'.\$/0!X&7NKTDY0KSQ^-7.OQ,,MMZJN2.+Y>Q?KQ1:3@"&Y8&<"I %S2E%W MER?IP;8W*<6?:8!=-96<9'@Q7I.I[GW<<2ZW,Z&[J -%+(N&::%V^655! , MFW3HAASBLJS;:J5]WDM\%Z1IEAIN)Y8( 0L#T$(4-DXL*Z;81S%H>^?>WI!-2^!E*7R1IYL<[YZ%6GN/C3W<.<0H"YW9+ZHB M7@/5!V6!5+WD$BI.)E;[92\\V6F[8]O+,J.43\!9H =+LAQ:/O?2FB0NJ$F3 M21BR>N^?%Q+2N7Y)X72Q2 M,159YQDL0XG %&?@;S"U!49!2 OK?@WJZOJ[*\MKZJX=,V?KT M&#6[G8T->%>&%]\.\Q//T&E>GI1=K50*+ M<9JPK#@6MIBA>=OFS^WE* !BOQ7K0\4/324(W3H]E,(>_QUNL\A^&U5*WZ%H M1Y@37=#'!&_9&,-<:IY'CG]R?)S1?W#/6(._8/?05RQZK;X!5BKF;#U= [+A MC$0&%EW4 (=,"7?4J=[\+%%P0((W=B1XXY4$;RQ(\ 8Z"=Z,)<$;9R1X:T>" MMUY)\-:"!&^AD^#M6!*\=4:"[^U(\+U7$GQO08+OH9/@^[$D^-X9"7ZP(\$/ M7DGP@P4)?H!.@A_&DN '9R1X9T>"=UY)\,Z"!.^@D^#=6!*\"]UY) M\-Z"!.^AD^#]6!*\-Y/@6(W/UB-_X>GOA#9O'\%J:@&7$-S&;F8L);RLF#[W M"">LUM:"M#_*Z<42=4+7\XST;S12Q1>:% QA*M;$T[#/([%BBU3K('%.1Y M%L9\O_0A+N[XJG:$[W&2;82F\"\@4S>%20_YI_AW@!O^V")%Z742QAL(T+^L]RL]P<6 MUVRPCL_!X\E,Q[A4!)BY+/$^YW(17\:K+I-CX[S"7Y0)@3.0"J'$)(*H_Y:O M(A2TD<9&#<@V4<-5&PAQ151JHBH>>>(O!OEZ=RLZ.>Q'6 W?021$0]!'7H[3 MAW5BYQ&W MDD$0 69:%3[AV'/M M_K>2/II\A1.\OA?7U]ONDC,A]0.(;?Y5GP;13IOASI#M#^%Z/'C;3#G81*3:8EN1(,V# MD*]&Z])XC-"%9IFQP UI9=K9%)MGU4<0Z"?3ENG%NK_&$YQDL MZXC AJW/)5 IXF?&>I1K'D%9P1JOX=/(5;<_HH)J\41,+ $.?5S_]P<8:#LM@]T@S6W(U*'>3'VI^4=3K]L@I1/[Q0[C3*A?[R%D>!-BTT6 M-96CRG-$WUNET3UZRR]28[LW(N!:742F;_.W?MO\XYFJJ>LG *[M4P 2\D+7 M$O[WR<=$* !AL!:;9O.;3Q0W7-QUAUTG4YVG+-<-0XY[/JWL.8#FUL(:MG0C M=(*HF*<&7K#PNTF>XR*?[NCHG4J;690"T'=8@!.NB6"BJ)0]096TIY8W-CK4 M]K9K:DB-?$D%3>WG[YC\6Z%$HB:[(#: M>0!(3FQ/S=C)QZCIIT4I0,VK 3=LZHZH[VZ[ T7?BT@%83:_12_2LX#W3D21 MZ%;R&&:#VS2SIZ;EJVYW_$A;/OMM%_=/**BE #6T!IST'I5*] ^H%$:3HB#Q MS:XH=R$S=!7 H/HDC>RL8](!9"MKJ)HOA2_DEN*>C/21G5&Y(MDZE@X%G<> MFEZ&:MC*7 :50K[<]OIXY^QQB]-1IF&WQ!2:&U0BL&T0X2=&I+E,+H6R:NO:[MJ$N-Y>Y_Q0KY:F-/ M!%"SJY"):XY5B$,EZ*VM:W*4!YS9(8,=)4+%B"S-/_!HOU)N%3SB?/98D" C M49P&Y&E>X UWJ*DF?6?"^5;63&ZWH[T.% >.7TN13YT/MSQCVKX8M6^NHS?[RH 3'Z-0QS?#Y,:C] -[N!)[5[ESSYK6H] M,+:IOV]):G=K)="64F$=V_]5^I ,1W;*.ZO&Z$$WGPJNO059"T+>L M'&K=[U [U6S+\F3?.DQ]E4U8VB6">>HXO8MIT@%D2VNH0N!1$W2?H4H5<5U_ M3N61DH[YCU,:AU-E*94BE _KJCJE<471%Y,T8JO7V^'IB/':D#\V,VB;SZXN MY03Q%!3SSIOS..IP!Z,29&,JL=K8L%5&7F,H%&,[FX'F>[LS$FU MAMP#]$AWIBG*OSO37&^5JZ__,LD"LIT1HO)Z+WY#9^\$ "+=#,$LON73589 MR@.UC!*FWCJ5&N)ZB"EZ'LOX3;%;VDIW=!ZZ6/,H0G7$@5D+D+E&@%4.9RP- M;*O,+%C&67H-0U#T[N=Q&J3AO@.:1!N0+?< /7) :XKR/Z QE-1S9G\PGMT' M">/B%;\+<+CR)+/P&'U -MX+]M#*W,)LLL#_TBF'SB3*RQ0ERV__/6\F!S+) M'XU7G:,N]Y&CKJ;G676X^!K?XW0G_? &(H"^+14R\41U=8*Z$O2272+.V2J. M:LM )0.%[SIH^N.Z/_@ZKMOM@<_/YM-YRI*C2I)):04!T5V/3S9FG" FCRJ% M*L.R#_:K5W7!+=^:UVE]+/6-\D)#-C?1 VE' <^P&6L!6 F_@;1>#PN8 M9-][96L&TJ(:9,I,S:=?6:YF($VM@F7R@3T'C(_*FP>DJ660=#GS?!V<;;.+ MGN$M2QG&XU?IWQ/,_D)GR)-.TM%1.XR'*AN0IW?P*@G'?SO97KMO.$'-._AZ M0_J,+6T(0X("*TU8M!@#6&)T*+%8A@TMH)M85AM7IJVJ[D\7 M]&_TY_HG^I^;(,?TE_\/4$L#!!0 ( *=I%$V5KYPW[B@ &^B @ 5 M<&%C=BTR,#$X,#8S,%]P&UL[5WK<]RXD?]^5?<_S#EUE;VJR+;LW? %H< BA1]%6*K9GT!AT M_X &T"_\^2\/\WAT1WA*6?+SJ_W7;U^-2!*RB";3GU]]N=X;7Q^>GKX:I5F0 M1$',$O+SJX2]^LM___N_C<1_?_Z/O;W1"25Q]'%TQ,*]TV3"_C0Z#^;DX^@3 M20@/,L;_-/H:Q+G\A/WCX.I,_+/\N8^C[U^_>Q^,]O8 O7TE2<3XEZO3=6^S M+%M\?//F_O[^=<+N@GO&OZ6O0P;K[IKE/"3KOA9!>/>?[X[>O=W_Z>V/[]^^ M?IB(41\%F?A*?B:^>OM3\?W-_@\?WXK_O?\_X.]D09:GZ]]Y^_!V^5])_N>8 M)M\^RO^[#5(R$E@DZ<>'E/[\JL+=_?O7C$_?O'O[=O_-/SZ?78[[]^2*-7*^$7$N0L)E=D,I)_BCFR M_E6)ZY2S?"$FQOR-_/:-0"B?DR0;)]%QDM'L4<+%Y\5H!0=%=S-.)C^_DL1[ MFRF11K^#T&:/"[%&4CI?Q$(B;_H.\Y E*8MI).9@=!#$4K[7,T*RU#1&(Z'K M 5X&7(AH1C(:!G'OT7;VXF#HX^XU<% SX7>H\3&YFJ*08:TG4^GP?\\6)R3:<)G8B))59R&+)<+.5D>BFD M$U)B'*9=+P,-_1,3?0L(0\*-2JJK[4##.$WNQ*QA'""FCJ8##>*2,S%#LL?+ M."@U\:\Y7###Q5W(3/)CA:C0< M2@VPC A=_AC2S4 4*K= M[9]4\P^[ SC:"91*[$:N$^/8@>0##;:R:A]O>)"D05AL[+"QPJB=G5>.B%@< M<8]C2X/P2>SNC)LEA';XLPY0J&H*UVL?.$ H_1,- M%XRZ=4=.#G*VHX91.]:TP)D!)'^:P>YO.=K]ISO#VLZ)'ETY.^/:CAW>PQ.? M@8%SO&=WCD[$X(U:2Z8;W(*35) 49Y(S\4&-A#QD)(E(M.I(CG%;JZGX6':R M-'#OC_9&*ZKJ7X,D&I5=C*I]+(>^&GS,PMIX8VE/9MPD+OG)+[JQCF_3C MU ML>HH#FY)7'3_BZ2%D;[I,U@IVU0(MS!QIR1\/65W;R)"WT@&Y%\*3O;>[B\- MW+\3'_U2#N**3*G\[2233H6.H8NFW2V;(ZW.B3$/1XR+U2P@6_49\+ V$]HV M^64+,4>D?78OG-%X/8DFG,UM9;F4&S,P4A6O&,+38W H..%!?"H6S;D2_W2#46P %_P,FP7?QZ%78EX13%FFGOJ(I4/P_8A1_)]=><2B7 M8CFN$_%9JL>BHSD0CS]BQ$/)/0),I'H$(U)I#,3C)[QXM#CW>!\XH3'AAV*U M3AG7W@8:#8$H?,"$@H9CGS:>G =S5\ M $$$TH'7G]]TFHO+&,]((/PCP.I5<#%HQB@&IEZ*V_6L1Y( M=/%7D;P8^H2(?J*SDF?E (O1W1%^RU)2M/6*VD4V([PF!C5V76V]F=EZ(*CF M=?=Q/"(+>7Y*@5 JFGNSVO5 4\LQ#I4(!*,?",.;ZOIL3X.NIHQE0>Q_+95, MG;,DM#O)=U%XL_/9'^;5#.-834R'"9$K%96_)'\F. M'\(XE[;C3XQ%]S3NBKE97U0@U%#H'!LNP(O,1B;;HJA8/E=$!KD7I\[-#%*L M&T5;J-0=VQY@"T;++XZ54KG20?8:17,H*H[M$."UH.7Z>9R^3><%.&B.30^@ ML\%SP>:,!KT:"E)PFH1@8O2/0 MI:>G@L+GS/IA#1]$"DCPLCA?;'&P>.?,!F*/#>1$L>O7;!LOI($,BK S@\EP MUS'LKLHSEDQO")]7M;\&M\[64+B! 4%W%&W)F@"/DS+PQ MP.G@N9P#3<>F_O$A<)R?PBZRI1E+*YM!YP">L@+=3\G4:@R\[U-C8/1=K>?_ M>JDY\#27!2'U"UZ,.2K.;9>$%_4NH/<'-?WNUBBPDU#_A2YT!H+4PSJW9;&3 M<9[-&*>_;12&:1ZTZ7S701AL JA$LOM9IUU\GJ9I;@O[BL9W,86!(:^+ L+$=%#Q8O2:_=B'[S1=$[+LLPQ9(6@@''9KPK5-+Y+LD MPS#H 39-3*B9=CTE@>^2"T.BA7&_LRQ,J&*MST[GS+T_)&8[4);0\*9KS7;P M/C[[XD01Y1T<:G!:%\ '(]2+/10$G@U21?Q)-K?/B;%I[O M^@9YMRSK=<:P*+I4Z .9"EW8%0F_HR%)KUFLW974-+ZOWW:8F+G'@=(GSM+T MDK.)SB%5:^3[3FR'0P=_N^[,6.X.R73Y>!R@W*J&Q/,ZYP^8.I/=],3;#P7KQA0G+SP'_1B2/Q7#O M",]HNN%8C:&)SO>UV!8[F!QP8":4-.-BG,NX82-6JO:^+\.V&.GYQH'-$1%2 M%#?$0H9B*LV9F$F_U=X*[*P/J2;R??VU10D@ 1Q0%75=Y$E6EG8K>5OSJCEL M:*E\%R"T!0LB QQHR5,N2=,B,NZ$Z.ZY[9:^ZP[:HJ+B%0<2UT$<\#*>YN_! M5(=$NZ7W8H/69SH%LSB@:'%C<4E"4$_06ENIV'TVE][ROG@F;O4 )*N-O1<8 M[(UEF^5=1_.<):S.W5(F9E,&@-1[44,[FP98&([*2'X*:'*15#UF)XRO+)8= M0$@B XWW H9PF3(P4YBVM=,D(V*4F?%FVVKHO4RA-30J3OJJP@^E*DS(5-Z1 M_2M#.>U2J=U)>I$R+-U@L.%:D&"$/A#!I M$O#'4Z'XSXD8YTWPH$9/0^*]5&%?U(QBP('6YDAU(C@_9(G@,Q>L;CSO!V3" M."G;B>&3M,59D5DM*(50XT)*I7XR.<4=_:CW8HG]];IS*';]N+QF?2G1 Y(0 MK<-62>"]7*/=T=C . Y=(C0)G(XT,UBPQQL*Q^*/8G9O2+6]H<^L;:R MSU'1*9)8VTHP]9I?JRS=#BJ_IR,YH$O.[JB8 @>/7P0@I\G:N#T.,WI79I^; M;;\]^L*3M:M$LWW4ZBDQ'&K;Z7G8V8%I"ZG;G92]5@WZ9YYFA>J[85=$W)A# M6CS@O!GP#1MLM;KY-=_AQX/-$Y=@X)ANTHRG>T\Q,BVR4>', )7KDL0G]$ MRC\KW"T+L8&RP\!]^ Z3?LKE;"U:K%-B]0Z2D!>A=_IJXS!JWY'8/; Q@:L6 MTN[[M-OKFOJ._ M^R.HYPNW.EX^FFNU\#8TOF/#':RZID!VO_*5>GLQ/OE.YP^U6_"O*< MID+CR4/+V="B]AX8[V9"**3D2TNSX9F?[JU,2>\]<'[H3=L@ M*:R[>/%T]Q7)*"\="KMZ3@6-XETX%\JMJ^O.<0#.=5!<@,AWZX++>L](:-PU]SHRB<6BU_3A/W7 V?(W2NX9SI93 5TRI4+; M%6=?71T(,ZGWA %W,B"W :-44TDH%'W:59[$?]8GB>BKO"0Y. M,%1)!P>.:R-T:K37+TG4%%#\GMJ69X^?22J[?S:K<@A?OWHJ*/[N:GJXP!^P M?G=T#M3M%TE12U5,!0X-6!;@*Q*^]9P*!4D$(! M?6JCW7: :N6$!-:-F5$HHYR'LR 5XRW*@)H>BX700H%]:F-;#V#!DMI]C0T7 MVA"W8_@L>6JSF_TLL9?5HQ8%4O81:#:'X#&]: TNXNTQN@U4<.,@RC8*EC3LUB=87@:*.(ZC^-[0+ M*'9/\98MV+5H*R$/NL\R'). MS&_3_CC:&QW1-(Q9*MJ+?Y2$]1=H/5;"NN#3(%D^C+2IX%4^FG19$5CEU>%- M;2_ HXC#=.]3G2J![M";'6T]U\8:%-^F'E6O 00K]#J?SP/^>#&YIM.$3F@H MHQ/+?$2YSPM!A%6#6&W5_K&Y:I>=R65;Z6ZTZ6^T[M!CZ:D6=X "4AH:GWN= M#K,;,14.8JWW!TKO>76:$6MNAU9RP; ,/S&96"9. 80GW8OMI^9B*TA&*YHA M7V&IC,5PH^QNZM5R<2NKBF9"01^Q_#8;W[(\JXX2LBHL^O"U,M3"5Y@L;,6" M85%T522IK8D/S351I?!YQR]'\;@9&Z02E8;(J\&B-2[ &M)3>=Y/ /BT3!EF M(6!8,>8DD^KZV7_;7#\K^C^,BAY&01*--GUXC7#IYLN\K@"D?D-WND=GM=KL M>O&\^L!8MJ-WK$6%84TNBWDT'PNK+<3]YD)<$HU65%ZCD&38JWQ4M1A4$ /N M2UHBGV6'ZY5VVG56Q("+J*'*1QM<#G,NYS=@00[].[Z7K'D.-$L*.Q$TAN6\ M?@BH>R6_:Q])9?N1)$#P;)/=B51#A.$-*LL3J8[*^XG4B(_J/2KDNU\U=6*O M$D>ONM/MOV\NH"71J(B^']WP($F%6#P[!*H9 =4AF5>5F=)K2DCWX*Q6FE4G MGA<>%,=65=WX=/FL;22"807)9!%:UF OWP>=DB0LC[-?I"$U M"VBBWMM^:*ZK2G=_&-4Z+$PO]2X]AH=NABDC(:OCM#E06G;C,QX6,E+ DK7M MQ_.Z[85S,URVE^@PK&WI)"&_YJ*_8VGM5:SA5JC*AFRTI//K_JJR (G455%X M]N)5!P5TVBE(?+^[9L"DPU6GY1W'4H%$C6BC1_:WB!X9?;?ZF\_G$9]1($DM MYJD8V2-H=]-1[5K0"$0&.$)@JJW4#(/7]MJ U5&!Q8$7O:)FKM?S&!KT6J?>'_[9'3R$.'.A= MS^AB48;)_U7]=C23 + M =0ZM! ,DYK"]YMVUB"9F,<"T=+7;@&1BL+W$W8](-(SCP.BXX G@B=9L^5Z M)N0 1LI(Z/W!.6O$@++ 9PRJA.,(+P'[T_%64-I*QT'^["W5-*.!;8.;FOC)NS1/PU+'/, M+=6G?4_>'U*S7HI]I87!?ZKVM(*L>]K- M@/6^$G-TF-T,1ZB,.4U3QHOHW[2L877#OB2\'.?-C/)5PH@15-GW,%W[#I6P MA7DXSO'HYW;AI".2!33N5LWO6LGL737$1M\M^_"IE5^JB9GT^VHX-_IWB)KM M3*NV-;>=K%V7Q<2:'%>MSQ@ $XN>% 4+ :!5VN( KGO:J1"H#+_ZJJ1'% [R M5(PI38M71=,BC&?\0#50* EV" \E#Y4M&ADFY:.OY(C- YK8H=,@Q8&38=X! M &NPM3E##WKH3-AMP/_*XDAZQSZ3^2WAJD-D9U/?AT+P7*J="C5<.SK=WPB* MB\EX*L95& VZ=9!LVMD2QZ36*Q_EX"N!N0Y%JE0='>-"HBN4$C,*UK%6D"[R MXX=P%B13LOY-O7;0DGC3$AK1=:@% -LXO"*JJ_#!8_4;_4''IH]=4#\]V*K$ MG",!TW3^Z6J+ QS[*:D!SJUZ*QYA2 KY!/$E9U%>#/5TOB /AXPO6&D8T>H[ MRSY\9S^HYUA5 ?82C*,#T^?Q]:=8'-/B(RIN__0V%X3I:1)J43$1^4Y>@,$ M8]V1W-L61FD(S8/84/880.<[Z5AID*D*'\P_CI- Q_WGDG 9CQ-,!1=?F8P$ M6+TZDRZO1I%Z@^G;G]<3'APSX[7;0GB.%N#J %H\W"K7?R@T1G$T34T/&$MZ M.+FW?,I>D-GQUD+(\CU*PE."X,VYS1,VU3>F2H[+SX4HK@F_HZ$NZ=FV'V^G ME6T6MHSX-':6_5FQY! MQ#N$$X@?'+Y7=3BJ^&63]1%$C ,WB_D)#MBM,+FE87(8++^2&0UCHG;;+ALV MV_GVV5K,P08VW1SC.<,OM'ZRRDEVT<,[YBQ9KS\>"IYQ '(Q$4=C H9%T=RW MY;X_.%K^G4"4\JP"C_A7$QKQT2]7A7>U^WP@OJ]\C6,GT9\ ZB/>-M)A2ZDJ MI_AJE-!)[5BR=:%U"W0U5!<[+4BBGVE"Y_E<)]-&$V^JHBFSED0[>?&G CX' M#T;1UIMX,UF91=O%BZL4$9 Y">:OZ]G73OCPMI(3CL,+N/1BWT*+;CQQVTF> MZ3GS[=2!U_93K+G.EE[=<(/@I63--V!#5=848CP(4A(=LKE\>K" 1F-T5+3W MZE4;GB?1T1N.YE(Q^B78T]U9(U<625(JC-]9W MA-\R#&@K[5I?4C+)XS,ZT:AG$+&W\JQ#SP0+4>%0S:N7;C?U9H6:6CY@:_3Z M*ZB\U7$=&DV(<'# >"K$FTRI?*LX34F6BG&>)F&L@P3.A>'/='Y7?>#[.]:SS@778R6?6P9;*2X M6U=':3!H=3<=\J)?_068D4U+XK62V2,%%P>& MO6!UFS3%HK;>(:\0H@@V75^+;9Y@U1(-FW>XEA9L^] 1>';$ "1=SRPTL8Y# MC3DT*KG91 ""?6++$9["L5I=UGK/W5 Y%H%V0U@Z5E68F\VE-XBK'&&5[W>M MK&MC^'T7T(=R[B9D*L\$#KR2)YR0W]0(;+Y&&PVJ0Z#)G4\ '"]NH:>/'Y:& MA,-@0;,@/B/2^5;:&7JL>6./: -2^QI*@3)T%+9SE4]5R[#\"FV,J6X)5KE" MJ/^NV22[%\QO['FJ0*B.AK[K1/0"1,TQ0GAN2$P6,Y:0Z\N-8<:R+QY4+<\!X"DX6BS/V'\6TPGV472Y;\NSJ[5%M[F)NO@;?"5$)LLF>2RFJ)^3F:Z@4<5VM MF^PYE:)HHIV-RP902>*YD38Y<"_+$Y:KRN)5OH=*$M==L\6@4T%6(B Z!5E\ M#Q4DKCMBBT$<;I>:>U1(,J2%',7?8[)\)6(\9SQ;OB"A9%U]TAWN%Z# X[F# M#BZ"YW)KTMD+^]E5X=,#SZ48Q-:VCD(F3:[('86&^+]H*QPQDM.P%1TQ%\%B\2"H//W)X00RH3Z@E&E(;UL4.4X$& M&M]ZSRSOJL8#"0"'FEL.M9( O4SJ$*R>LR0$I+^ Z+VJ1A@>K7N'A6!V75.J MWL'0!J/]T>8)901:\[F^H;S3!5[[/H/\4N;5'2:[7N95,:=ZO2RU.T7=('S@ M*.>J&*+-,U(=9#@P LP]&&".'\O['*3_)!'5/X_7:.0[Z!8T;VK!99U<^BQ# MH+HR0>!H-O(=\&H-1S>7".'X?#TCR;=YH']-K=7*=T2L-2 */AWY*=>_=I&H MBW[6AE5IZ#NXM;]L6]RBJP6W'FKA]H=!4VOJ.\"U/S@='".&YYX!P=DT]!WM MN@4T36X1;A3G+"/R16XE)-4&.U&%M,T1#D.E'%>ZM,-6YI2UP=*V']]G7C-J M/1G#!.X1N14/GL6)"$Y$CSLZWQO&B+?9V,P; #6'1W'OB2+@*H+ MULDV]2:^C[K.PO5O87*_N+ ME?W%RHX!HQVQLH^O6,3I-">_Z0V[K6:^;QWVIET%IX[.KIN?,]D2.UOZ/LEN M(=[AK(D.O1GKT9HL5ITM=\Z:J.$7(3HW5^-E-1$M-.UFOA.KK7%1<>I(*1V< MCT^3.ZU0ZTU\)_Y:"[2+0U?.(E;4H/Q*R;W>YMUNYSV#U=[FK6+6U4SE-$@. M")_J)VNSE?QD&:TO" Z)5 NYGW[#QKP:I8=259SNX3 6:D M>2ZR&%:['52V>+8M);..A/NWZ[_)^III5I0;TX) M_[+0BK?1!NK$P+.1=3+I*NW].>H_5_N=MSQZM]?[L_Q>BG&3--45K.6DTK^-(D WE@ '7ZW-Y 1 MIP!4P3XB:1*@AW"0\D##O]XL;;%H5UF]5\3?D=# MFDPO)AVC3F_$6-+NKTSN]&%_!0?ZAMGDU ^VGW($C$5,ODJ;'VBZ9.%@<3@6_.NPF1*?R_7T>"XG(&NYCHV M*M<7K]'K8I[1,"-1]UB[/U4NR+5M;YM><0!LGK:MT/=MF'9TX88?2[8ZC3@L M?K+]_%3[Q-#?Z [9?$ZXW! N@P7AICAO=7-P78]= =(DF=T/&FAP:-*YBN90 MX)T](C4D\'I6_0,/6\7&$ZVR.31EPV&DFM-5O M9-Y<+BSVUNRT41H=QR /O MJCJ9N+HF-C8 8TTE'0$4D9W0DB9FT2ZMQJ#EFTXVB%;;0^_^NZHIV[+!<=F_ MGC&>W1 ^EW%_TJBAO^[3,"X=6WW M\^8,Y<9QYFDUS*"ZAO+IB:G\^A6)")G+-6LC_VXJW[FC_>2ODP".?>*EJHFA MJLGWONW"+U5-/%/)U8>( MP%582\)N R[K"=-DFII4C[(U5.9XTR7?:F4#A;= M2=,D2EMG%BHYHC^]/$V&_X]XM ;Z#/_Q?< CF4FJOP\WFN&X78%NP(V15TK- M89"ZZ9;;:HA#\IVS1B5XQW?7/'X8YS%?2HF4NV.VUM KJH3!4D><'EBM<<(1 K=)IR94B&H6 CA M27&@#SU1J!-"2TLZ\XKVQJ!+ #CV:E4>^\%C]9M>ANW./G#L-=O8N3O9JCBR MD(!I8^O&=1"PGY(:X!P_D%F[P%N8+6ROUD]B)X(:*IYD)U'- L7#[ UI@ZG1 M5Q:SX@;3SE(OG742A$19MZJSV%:5PEN]L#[2UU40:XL!(UBGXL H))Q=";Z/ M)Q,2RJ)*EX2'4N933:T>RVZ\I6<,#2M08!BQ_AQD.:="^8NA0X&MTWBK<#8T MBEVBP Z9OC*=DJ&-SRX!!)6S6Z($TM]#(!2C3H";\];;(&%B2=,*TK] M$.9V[X/V>!5T^.C'[=>3C7AV/U=-\RIJD:,^H20ZW.+-V'8GWEY)<3DUE,)" MZ#5H!B/?P 5%;JO,>8L*AW]7G\],DY"1(Q<&@_+// M;:;=A[=(:Y=7&96H,$(L;EN41304DW2NU=,&,K"I 3V2"HE@!.^*+'(>SL04 MB^P-10IB*)#XC49:Z3BZS!S+ZMRI&/$)Z=*0LDV]B;] [2VWN"Y.<:R12\Y" M0J+T1+!:28^1DT.]-K1$4) PVFH TMC]FTC#6DQL;>;$6OWAM^:TI(!C=6HW MVTM.DY N@KCG.:1"#P42E2G(DD>G6YG,/6?)=<;";X=2:4RHH"77,\%[5U## M*EU=3>*O@/"66QU$$HY J&EO\=L!3TX$E@PG(X@!UQI*I3-&&OCKL_=OFTV'5CGX_*KM:/QKF\[&P 8206BM4B*P+#5G8Q M?455-QV2"L'\X]A,I"MYXV0!I[TH2+PF M%,(EW_:F:T6 ZFJEWD]VA,BYKYXN6S&NN8%_$0*+ @5I= XM[Y@4O M]$CT-8ASFP9R:&@B#4LXO#BSQ+LR"153;LL*X1 M>LT['!+P#G'X0UT9V-8>MSB:T6DB]P?%'<)$Y#4]T!I!"$=X%>Q7EHGY=46G MLTQS.M71>$WN&V:]=0D!!UB5(S0,*26!UQ2] 6X0.X&1_<4!1.PW*V\ \';C MSE 9,/S"H"7RFX4W '"X[PJM@9HN"DH"O_E[@P&EO"-@ @ETS-=3^\8B:+5*CBD)2MO?J"MI4L S"(:2\\(VE*2'V( M(&>>D="K@V@@&*&\XMDIK_/;E/R:B_Z.[\K$#\V.^*Z51K&F'I7D*+:])D_F M'4Y-@2'\:B?S*DP@O&188 UZ.T.787$CM=#%Y%3<,^YH)/6O-@A1T7R'L%!P M@"-%HC6XO]-L5L2WRQ2#&5WL:Z[;QX7 MAJ? E 0X$(/I/Q4/VZ8..,/$M+XT)$APT<\S,T"85XTQ_K>[N>]$)>,\TZ/R MDL> 2:6]Y#$\*1;/(X_AI$\>@X+(MS:SS&/0LHY#F2E2>WNEE^^<0M/R40E< MQ8>/32YY!QD.C !S#P:8\Y32)&')YR#])XFH*96THZEOK67_$+V&8X3%^YNV M06#BEHEJ-]*V8+P[&UL4$L! A0#% @ IVD43842 M9929%P +'$! !4 ( !+;0 '!A8W8M,C Q.# V,S!?9&5F M+GAM;%!+ 0(4 Q0 ( *=I%$VWY$32>T .:6 P 5 " M ?G+ !P86-V+3(P,3@P-C,P7VQA8BYX;6Q02P$"% ,4 " "G:11-E:^< M-^XH !OH@( %0 @ &G# $ <&%C=BTR,#$X,#8S,%]P&UL4$L%!@ & 8 B@$ ,@U 0 $! end