Effective August 24, 2009, Mr. Mark Schaftlein resigned as the Chief Executive Officer, President and Principal Financial Officer of Pacificap Entertainment Holdings Inc. Mr. Schaftlein's resignation was not a result of any disagreements relating to the company's operations, policies or practices. Effective August 24, 2009, the board of directors of the company appointed Ed Litwak as the company's Chief Executive Officer, President, Principal Financial Officer and Director. He recently returned as President of Pacificap Entertainment where he had served from 2004 to 2007. From 2007 until recently, Mr. Litwak has been serving as a consultant to firms in film distribution.

Pacificap Entertainment Holdings Inc. reported earnings results for the first quarter ended March 31, 2008. For the quarter, the company reported net income of $3.91 million. In contrast, the company posted net income of $5.6 million for the same quarter in the previous year; and a $58.74 million accumulated net loss since inception on July 29, 1997.

Pacificap Entertainment Holdings Inc. filed its 10KSB on November 12, 2008 for the period ending December 31, 2007. In this report its auditor, RBSM, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

PACIFICAP ENTERTAINMENT HOLDINGS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Change in Direct

Quote: Mark Schaftlein resigned as the Chief Executive Officer, President and Principal Financial Officer of Pacificap Entertainment Holdings, Inc. (the "Company").Mr. Schaftlein's resignation was not a result of any disagreements relating to the Company's operations, policies or practices. Appointment of Chief Executive Officer, President and Director. Effective August 24, 2009, the board of directors of the Company appointed Ed Litwak as the Company's Chief Executive Officer, President, P...
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