Pilgrim Petroleum Corp. (PGPM)

[Dallas66]

Dr. D, I would surmise "someone" is trying to consolidate for several reasons.

1. management (new ?) wants less shareholders - and more shares held by the company. This would result in less of a chance that current retail shareholders complain and possibly gain the attention of the SEC when the new "business" is announced. The resulting PR blitz would draw in new retail money, with shares on the market offered by the company. wash...rinse...repeat.

2. Less shares in the retail world makes the shell more appealing for a buyer/reverse merger.

3. Management...or potential new management is attempting to spark interest in the shell with share activity. This would peak the interest of new bagholders. This could be the start of the next scam to come out of this company.

4. could possibly be EOY accounting cleanup by the MM's.

5. Potential new management is "buying" shares from the company at bottom feeder prices...then they PR blitz and sell into the momentum...see item 3 as this would be a variant.

6. could be the start of a "real" interest in the shell by a "real" business....though I don't know why. One can buy a clean shell for a reasonable amount with reporting and share structure up to date.

the possibilities are really endless...we know current management is not doing anything with the company as the price of oil has bottomed and we saw nothing in the few years oil was at it's peak...so in my personal opinion...I will watch for the opportunity to offload my shares and recover something if possible.