Pacific Groservice, Inc.

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St. Cloud invested in Pacific Groservice, Inc. in a combination of senior and junior subordinated promissory notes with warrants. The investment was used for the acquisition of Pacific Groservice’s operations. With facilities in San Jose, Sacramento, Oakland, and San Francisco, Pacific Groservice is the leading wholesaler to small convenience stores, grocery chains, fast food restaurants, and vending service retailers in Northern California. Pacific Groservice’s dual offerings: cash & carry and direct delivery allow it to uniquely service small retailers and restaurateurs. St. Cloud’s notes were repaid in full. St. Cloud still retains its equity position in the Company.