To the
Shareholders of Premier Products Group Inc
From: Terry L Stein,
Interim
CEO
Bremerton,
WA -- February 28, 2024 -- InvestorsHub NewsWire --
Dear shareholders,
We would like to provide you
with a long overdue update.
A year and a half ago the
company found itself on the "Expert Market". This was due to
the prior management's failure to ensure that all necessary filings
were kept up to date. Quotations in Expert Market securities are
restricted from public viewing – restricting access to only
broker-dealers and professionals or sophisticated investors.
Upon this significant
corporate default, I made a decision to file a default against the
management group and take over voting control of the company in an
effort to repair the damage done and protect shareholders.
This kicked off a series of events to return the company back to
both compliant with SEC requirements (including its current audited
financials and disclosures) and to allow for a published Bid and
Ask quote for the company's stock. The first action was to
vote out and replace the then current officers and directors that
had allowed this to occur.
As many of you know, this is
a somewhat contentious action and we did not exactly receive a lot
of cooperation (or any) on the turnover/transition. During
this period a great deal of time and money has been spent to
rebuild the company financials, perform audits and confirmations,
complete business valuations, attorney reviews and legal actions,
meeting with stakeholders, and position the company to advance its
business objectives. Looking back, it does seem like a
considerable amount of time from a shareholder's point of view, but
please know that we have worked as diligently as possible, and
spent a considerable amount of resources, to complete these
numerous tasks and protect the integrity of the company for the
future – which in turn benefits all shareholders.
So, what's left to
complete? The auditor is finishing up their work so we can
file the 2021, 2022, and then 2023 annual financials to become
fully compliant as to the SEC filing requirements.
Immediately following this, we will work with OTC Markets and
others to complete the 15c-211 process and get back trading!
As for the business in the
future, PMPG is still very much moving forward with the Smart
Cities and Roadways business. The plan is to expand the
offering and bring in new partners in Artificial Intelligence to
make this a reality. This will require more funding for sure but we
feel confident we will be able to accomplished this in a timely
manner once we are back on track. Also, we are working with two
other exciting companies that we believe will bring value to our
company going forward and look forward to making those
announcements in the near future.
In closing, I would like to
tell you that I understand the frustrations of all the shareholders
of Premier Products Group Inc – and know that I feel it as well –
but we all need to a step back and examine what was left to work
with. I have spent endless hour working to save what was left and
have spent what seems like endless dollars to save this company for
the shareholders because I believe this will be something we can
all be proud of, but it will take more work and additional funding
to achieve that goal. So we will get there, we just have to
continue to stay positive and have a bit more of that patience.
Sincerely. Terry L Stein
