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Pacific Software Issues Letter to Shareholders Outlining Recent Accomplishments

ACCESSWIRE
·4 min read

CHARLOTTE, NC / ACCESSWIRE / May 4, 2022 / Pacific Software, Inc. (OTCPINK:PFSF), a restaurant developer and brand incubator, announced today that it has issued a letter to shareholders outlining the Company's recent accomplishments, strategic vision, and anticipated milestones.

"2021 was a year of corporate restructuring and development planning for the Company," said Chief Operating Officer Michael Finkelstein. "We're headed in an exciting direction, and with multiple joint ventures and acquisitions now complete, we're focused on expansion this year and moving forward."

Key Achievements in 2021

  • Launched a joint venture with restaurateur Lincoln Clark. The Company is a 70% owner of LC57 Holdings, Inc., which owns The Good Wurst Company, a popular casual eatery chain in Charlotte, NC specializing in made-from-scratch sausages at multiple locations. The one-and-only butcher, bagel, and sausage maker, The Good Wurst creates everything from-scratch and sources ingredients locally whenever possible. Lincoln Clark is an experienced restaurateur and developer, co-founder and principal partner in The Restaurant group (TRG), creating brands like Fuel Pizza Café, Harvest Kitchen NYC, Zen Taco, Up Coffee, and AG Kitchen.

  • Launched a joint venture and became 50.1% majority owner of The Gallo Group with restaurateur Raffaele Gallo and James Beard award-winning chef Guiseppe Castellano. The Gallo Group is developing a portfolio of fast-casual and family oriented European-inspired restaurants, including Gallo Express (Danbury, Westport, and Stamford, CT), Gallo Family Restaurant (Danbury, CT), Gran Gusto (West Hartford and New Haven, CT), and Torino (New Haven, CT and Port Chester, NY), with leases signed and renovations underway in multiple locations.

  • Acquired a 51% interest in a World of Beer franchise tavern in West Hartford, CT. This tavern is jointly owned by World Of Beer Restaurants and features a full bar of over 500 local, regional, and imported bottle, craft and favorite beers on rotating taps, as well as popular and craft wines and spirits.

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Anticipated Milestones in 2022

  • Multiple location openings for The Gallo Group family of restaurants in Spring and Summer 2022

  • Name change to reflect the company's new business strategy and direction

  • Discussions underway with multiple parties to acquire existing restaurants in the New England region through The Gallo Group.

  • Discussions underway with multiple restaurant developers and unexpanded unit success stories on the East Coast regarding joint venture and expansion opportunities

"Our goal is to partner with experienced restaurant entrepreneurs who have the concepts and know-how to succeed but who may lack the expansion capital and requisite discipline to drive even greater success," said COO Finkelstein. "The individuals, investors, and executives at Pacific have the capital and skills to nurture and grow wonderful concepts into highly regarded restaurant brands. With this baseline laid and restructuring largely complete, we look forward to updating shareholders on our current projects and exciting new efforts with increased frequency this year."

About Pacific Software, Inc.

Pacific Software, Inc. (OTC PINK:PFSF), through its subsidiaries and joint ventures, is an owner, partner, and investor in the restaurant business in the US, organized to both develop new restaurants and incubate promising brands. The Company's portfolio of unique fast-casual and family-style brands includes The Gallo Group of restaurants, operated by Raffaele Gallo and James Beard award-winning chef Guiseppe Castellano, a World of Beer location, and The Good Wurst chain by renowned restaurateur Lincoln Clark. For more information, please visit www.pacific-software.com.

Forward-Looking Statements

This press release may include certain statements that are forward - looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. The forward-looking statements in this press release are based on Pacific Software, Inc, current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include Pacific Software's anticipated new developments, business prospects, financial performance, strategies and similar matters. Pacific Software disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

CONTACT:

Michael Finkelstein COO
Tel: 704 397 7622
Email: whalehaven.michael@gmail.com

SOURCE: Pacific Software, Inc.



View source version on accesswire.com:
https://www.accesswire.com/700142/Pacific-Software-Issues-Letter-to-Shareholders-Outlining-Recent-Accomplishments