In the summer of 2018, PB Funding Group (PBFG), was formed to help financially support PicoBrew. It was a group made up of some current shareholders and other fans of the company. Over time, PBFG became the lead source of funds to support the company's daily operations. From its initial loan forward, PBFG kept advancing funds to sustain basic operations while the company looked for either a buyer or other substantial investment to pursue new products.
By the end of 2019, PicoBrew exhausted all avenues to continue operations under its existing operating structure. Interested parties liked some aspects of the business while not liking others, making it difficult to find the right partner going forward. PicoBrew ultimately had few options outside of receivership.
PBFG was the only secured creditor when PicoBrew, Inc., went into receivership in February 2020. PBFG was ultimately the only bidder during the height of the COVID pandemic and became the asset owner on May 8, 2020.
PBFG made every attempt to get other companies to participate in a solution to sustain PicoBrew’s operations, however given the timing, there were no alternatives other than to stop the massive continued financial losses and liquidate warehouse and other daily operational assets. This was necessary to give PBFG time to work on a go-forward strategy without hemorrhaging more money.
PBFG now holds a library of products in development, intellectual property in various forms, production and methods, to patents granted and patents in pursuit. It will now focus on completing various patents including licensing and or selling the patent portfolio along with the remaining knowhow and other products in development. A list of the IP and asset classes are on this site.