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being that its unrealized profit at this point, no. but its a good indication of pgi's direction and future valuation.
the question is..do you believe?
mm's are loaded and ready!
who is buying all these shares? are the mm's loading up?
doesnt sound to far off for brokering the deal.
650M would be about 10% of the total revenue
@ $932 a ton, isn't that about 6B in total revenue?
6000000 metric tons = 6613756 tons
someone dumped a huge amount of shares.
i don't want to say it, but wow, that looked like a classic pump and dump to me.
release the news just before the bell and dump 75% up.
still going on. just little at a time
someone is dumping millions of shares..wow!
remember, this is not the only project they are working on.
good things coming longs!
stay strong longs.
is this thing halted?
its not going to be as long as some might think, but its going to take time.
pgi already has a ticker symbol, a market maker to sponsor them and some history in the market, so that's a big part of the application process.
however, its not a day trade right now, so those who live on that should move on for now.
someone didn't put a limit.
i think he's just trying to say that now is the time to buy. the time to buy isn't when they release the news and you end up chasing it.
pgi's management has told us several times now what they are doing. its not as though they just quit releasing news, never to return.
an audit and S-1 application doesn't just happen over night. pgi's sec counsel advised them not to discuss anything about potential projects or financial issues until they get sec's approval. why? because the sec bases some of its decision on the managements manipulation of the stock's offering price prior to compliance. by doing so, they could jeopardize the entire companies business plan and the shareholders profit.
Join PGI Energy on Facebook:
http://www.facebook.com/pages/PGI-Energy-PGIE-/186748414695518?sk=wall
The Company has been in negotiations for an oil and pipeline assets in the Gulf Coast region. Currently it produces approx. 500 Bbl per day light sweet crude and pipeline assets generating significant revenues. "The closing of this transaction will allow us to report strong earnings, thus increasing value for our shareholders." says Marcellous McZeal, the Company CEO'.
Joseph B. LaRocco of LeadDog Capital L.P. stated,"We are excited about helping PGI with their funding requirements and the Standby Equity Purchase Agreement we will be entering into with them should provide the necessary equity line funding they need."
HOUSTON, Feb 22, 2011 (BUSINESS WIRE)
PGI Energy Announces $100 Million Standby Equity Commitment
-- PGI ENERGY, INC. announces new standby equity commitment agreement with LeadDog Capital L.P. "This new equity commitment will allow the company to acquire acquisition targets in the oil and gas industry and meet working capital demands as needed," according to the company's investment banker Robert Gandy with Pythagoras Group, who arranged the financing.
The Company has been in negotiations with the seller of significant oil and pipeline assets in the Gulf Coast region for the acquisition of its assets currently producing approx. 500 Bbl per day light sweet crude and pipeline assets generating significant revenues. "The closing of this transaction will allow us to report strong earnings, thus increasing value for our shareholders. We are excited about the opportunity to make significant acquisitions in this growing market environment," says Marcellous McZeal, the Company CEO'. We are in the final due diligence phase of evaluating these assets and hope to announce the closing of these and other acquisitions soon!
About LeadDog Capital L.P.
LeadDog Capital L.P. is a private fund based in New York with a focus on investments in smallcap companies with market capitalizations under $500 million. One of the funding vehicles they use is an equity line funding structure to assist companies with their long term funding needs. Joseph B. LaRocco of LeadDog Capital L.P. stated, "We are excited about helping PGI with their funding requirements and the Standby Equity Purchase Agreement we will be entering into with them should provide the necessary equity line funding they need
yes, i noticed that too, but hey, people make mistakes.
i just find it hard to believe that an attorney of a large law firm would jeopardize his career to act as ceo of a scam company.
headed for .02
no, it wont be 3 to 6 months for sec approval!
and no, companies are not required to have sec approve their pr. if so, the sec would be doing nothing but approving news.
they will have to follow sec regulations and file quarterly & yearly reports.
PGI Energy just bought Tensas about one month ago. Tensas has had no business plan or revenue since 2004. PGI Energy merely bought the company to fast track taking their business public.
You need to see the big picture. You need to give them time to file the S-1 application and become a fully reporting company. PGI Energy has stated several times now that until they receive approval from the SEC to be listed on the OTCBB, they have to limit news per sec regulations. By releasing news during this process, they are taking the risk of having their S-1 filing rejected by the SEC.
Once they file the paper work and receive approval, then they can start telling investors about the $100M financing and projects they are pursuing.
When that happens, people who doubt this company will be left in the dust or chasing it. Don't be one of those people!
VVVV those should be stickys!
Letter from Marcellous McZeal, CEO
Mar 11, 2011
OTC Disclosure & News Service
Houston, TX -
Dear Shareholders
We have filed our Interim Financial Statements for the period of January 10, 2011 through March 10, 2011 on OTC Markets.com today. Our auditors have not completed our audit yet and have indicated completion soon. We have subscribed to OTCMarkets.Com for reporting financials to create a high level of transparency. We have fielded many calls from investors wanting specific details about acquisitions. We have been advised by SEC counsel to refrain from dicussions of specific details with shareholders, that all the information will be included in our registration statement upon filing with the SEC. We will then enter into a quite period until the SEC has rendered its final comments. We are still having our new web site developed, this too is a process that takes time and we appreciate your patience. There were approximately 200 plus shareholders who the transfer agent did not have an address to send new dividend certificates too. If you are a shareholder who held shares of Tensas, Inc, OSF, Inc or Chicken Kitchen, Inc over the years we may have a certificate with your name on it. We are attempting to scan these certificates into a file for posting on our website. However, if you believe you are missing a certificate please email us at the address below and we will verify whether we have a certificate for you.
About us
PGI Energy, Inc., is an energy holding company, headquartered in Houston, Texas. The company’s purpose is to acquire assets in the proven producing oil and gas assets, refinery and pipeline sectors of the energy industry and other synergistic assets. The company will only acquire proven producing, and income producing assets.
For more information visit: WWW.PGIEnergy.us or Email: info@pgienergy.us
Media Contact & Investor Relations:
Robert Gandy
7322 Southwest Frwy Ste. 1100
Houston, TX. 77074
(713) 532-5649
PGIE SEC FILINGS
http://www.otcmarkets.com/stock/PGIE/financials
that's what trading is all about. if you dont feel comfortable, then get out.
not sure how you can say this is just a scam. you do know that the ceo is a reputable texas attorney? gandy is not an officer of this company. he merely hold a majority stake in the company.
and by the way, they did release a pr and finanical report this past friday. go to the otc pink website and click on pgie news to read it.
among other things, it says they have been advised by sec counsel to stay quiet during the S-1 registration peroid. giving out details of the sec registration filing during this period might ruin their chances of advancing to the otcbb.
i agree. ive not read or recieved any pumps for pgie.
what moved this was the idea that perhaps this new management might be leading this company in the right direction.
those who are selling will regret it.
well certainly becoming a fully reporting company will gain them credibility. you can only be on the otcbb if you fully report and adhere to sec regulatons.
not sure its going to be a rocketship to the naz, but its a move in the right direction. buying quality assets and creating positive revenue is what moves companies from the otcbb to the big board.
they have counsel preparing the s-1 filing now. i would venture to say that its merely weeks away. pgi's management wants to close on the financing, so they can start purchasing assets, so, you can almost guarantee this is a top priority for them.
they've entered a quiet period per sec requirements. the next news release should be that sec accepted their s-1 filing and have moved from the pink to the otcbb.
the registration and acceptance by the sec as a fully reporting company will also settle the requirements for them to close on the $100M equity line.
once on the otc board, they will have better exposure and the closing of the financing should enable them to start purchasing assets.
I am assuming that since the paragraph also includes the following quote
The assets will be operated by existing management team
"The company entered into an investment agreement with AGS Capital Group for a $100 mil. equity line commitment which requires us to register shares through an S-1 Registration filing."
"The company has entered into a legal service agreement with Laura Anthony, as SEC counsel for preparation and filing of an S-1 Registration Statement"
PGI Energy has identified a 5,000 Bpd atmospheric refinery newly constructed 2009, distressed asset taken back by the lender after construction. The asset appraised in 2008 for $74M. and the lender is willing to sell the asset for $26M.
The revenues historically under lender management at less than full capacity have generated approx. $4M - $6M. per month in revenue -
PGI Energy
is this a dead link to anyone else? cant seem to find the sec flings now on the otc website
dont do so much dd, that you miss the boat.
its never going to stop. this thing is headed for subs. no one has any trust in rooney. revenue is the only thing going to turn it and that is a long way off.
so what are you implying? pgi is partnering with cynergy to buy or operate non producing wells? what would be the point?
are you long pgie kinpindg?