PCSO CEO Letter to Shareholders 6.25.20
WILMINGTON, Del., June 25, 2020 (Newswire.com) - Protective Capital Structures Corporation (OTC Pink Sheets: PCSO) Acting CEO and Vice-Chairman Charles F. Johnson II issued a letter to shareholders today, providing updates on topics related to relaunching efforts. Full letter can be found on OTCM. Excerpts as follows:
"As we continue our good faith effort to relaunch, we would like to announce that PCSO has come to agreement with the CEO of Relm Real Estate Holdings (RREH) regarding its 1Q20 payment of accrued interest, at 7.5%, in the amount of $51,332,491,247. Because of the totality of events and the large shareholder position of RREH within PCSO, we decided to make a one-time exception by selecting the option to collect payment via marketable securities at fair market value based on the June 23, 2020 closing price of $16.79. PCSO will receive a total of 3,057,325,268 of common stock shares owned by RREH. This exercised option is reflected in Note 2a of our 2019 annual financial statements posted on OTCM. Additionally, both parties hold the expectation that all interest payments will be collected via cash payment going forward..."
"...To further ensure relaunching success, on June 23rd, we began the process of issuing our Private Placement Memorandum (PPM) to identified accredited investors. Over the next few weeks, our primary efforts will be focused on closing the PPM and will provide updates on our social media platforms. We strongly believe that the combination of 1) a correction of assets on record via our future unaudited and audited statements; and (2) the reflection of a successful capital raise, will be attractive for larger institutional investors and company exposure towards our goal of Nasdaq listing. Furthermore, we will be increasing news outlet exposure (BusinessNewswire, Newswire, Bloomberg, etc) during these efforts as well..."
ABOUT Protective Capital Structures Corporation
Protective Capital Structure Corp. is a non-depository/non-bank financial institution that packages structured finance products as a non-traditional business funding source, utilizing the Company's Proprietary BCLOC Securitization Strategy based on Special Limited Purpose Corporation (SLPC) vehicles to finance clients' special projects. Protective's financing or investment structuring deals range from major real estate development projects around the globe through technological incubation and sophisticated economic projects funding. With Current Information Status, PCSO will complete its working capital raise to address cash flow and operational funding concerns.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements.
ALL INQUIRIES:
Please contact Protective Capital Structures Corp: Email: info@PCSO1.com or Charles Johnson, Vice Chairman and acting CEO, Tel: 646-450-1467, Charlesj@PCSO1,com.
Source: Protective Capital Structures Corp
