PacWest Equiteis (Pinksheets: PWEID) released yet another press release today, this time about a distribution agreement its World Eco Source subsidiary has with K. Hill Livestock. There are still no details on K. Hill Livestock and none of the press releases have had a quote from anyone at K. Hill Livestock. Does the company exist? I do not believe so, as I stated in my second report on PacWest Equities — there is no evidence that K. Hill Livestock exists outside of PacWest Equities’ press releases. Like I said before, I could be wrong, but considering everything else that is sketchy about the company (that I detailed in that report), I believe nothing they say unless there is proof. Below is the full press release (except for the legal boilerplate):
November 12, 2012 10:10 ET
PacWest Equities, Inc. to Team With K. Hill Livestock for Distribution Rights for Hawaii in a Deal Worth up to $12 Million US in Annual Sales
LAS VEGAS, NV–(Marketwire – Nov 12, 2012) – PacWest Equities, Inc. (PINKSHEETS: PWEID) through its subsidiary, World Eco Source Corp. (“WES”), announced today the signing of a Teaming Agreement with K. Hill Livestock as an exclusive dealer for the state of Hawaii for WES’ proprietary MobileFeed® and MobileFood® units. Both parties involved recognize the demand for a sustainable economical and reliable feed source for not only livestock, but also for human inhabitants on the under developed areas of rural Hawaii. The units will be shipped to Kawaihae Harbor and distributed from Kailua-Kona, HI. “We see tremendous growth potential throughout all of the Pacific Islands including US territories of Samoa and Saipan, where populations and livestock are heavily dependent on import of goods,” stated Mr. Geoffrey Bagatelos, President of PacWest Equities, Inc. He added, “Hawaii has limited resources available for large scale feeding operations that force the import of expensive feed stock, and this agreement will allow for ample amount of feed to supply a large herd and stabilize fluctuating expenses of import due to volatile fuel costs.”
The World Eco Source MobileFeed® and MobileFood® units provide turnkey systems for either the production of livestock based consumables or human based protein and vegetable consumables. The MobileFeed® units are truly a sustainable green life cycle farming system. Using solar powered and water conservation growing systems, one trailer can produce 1500 pounds daily of organically grown grass for year round livestock consumption, lowering feed costs by 200% while producing Certified Organic, Grass Fed livestock, increasing profitability of the final product.
The MobileFood® units enable the rapid production of certified organic vegetables and proteins for humans through life cycle harmonic integration of fish farms and hydroponic vegetables, with one half of the system feeding/fertilizing the other half, and vice versa. Growing tilapia side by side with vegetables, and using the same water from the fish to fertilize the greens is not something new, but by combining the hydroponic know-how with World Eco Source patented technologies, the outputs have finally become commercially feasible.
And as usual with PacWest Equities’ press releases, the above release has no details about anything else — price, where the units were manufactured, what kind of inventory K. Hill will hold, what kind of vendor financing may be provided to buyers, etc. I am very skeptical of everything PacWest Equities says. I continue to have a strong sell rating on the stock with a sub-penny target price.
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