Pilgrim Petroleum Corp. (PGPM)

[awesomebummer]

Irrelevant and an empty threat.

BF Borgers undoubtedly had their accounting and legal teams pre-review their services for conformity with applicable rules and regulations. This isn't something just offered now, but in place for years. Or just offered by them. You are right, the subject matter is moot, but for different reasons than you stated.

I still maintain one of the real culprits here is the CPA firm, Bulloch, et al. who performed the "compilation" financials. Reading the AICPA procedures for this type of financial reporting, I was surprised to see the fairly vigorous standards that must be in effect before this style can be used. It is not simply the CEO telling the accountant what to put down. There are considerable responsibilities on the CPA to make sure it can be used, or else refrain from the engagement altogether. The standards are significantly more vigorous than typically portrayed on this board.