Pilgrim Petroleum Corp. (PGPM)

[QTRADERQ]

This post is "on-topic". The companies mentioned in this post are ALL run or controlled at one time by our Preident and Chairman, Rafael A. Pinedo.

Mr. Pinedo kept the increase in Authorized Shares a secret from stockholders at GGSM as well, then diluted the stock from 166 million to 840 million shares
https://www.otcmarkets.com/stock/GGSM/profile

Then you have the management team. If the recent press releases are anything to go by, GGSM is now headed by a person called Rafael Pinedo and it must be said that this is not his first mining company. He has been involved with numerous OTC enterprises like Pilgrim Petroleum Cp (OTCMKTS:PGPM) and Airtrona International Inc (OTCMKTS:ARTR) (f/k/a Chancery Resources (CCRY)) and it's fair to say that neither of them is particularly successful.

The dilution is pretty horrific as well. The number of issued and outstanding shares grew from just over 166 million in September 2013 all the way to 725 million in November 2014. The financial report tells us that some of the debt is convertible into stock at the average market price for the few days before conversion (which, at the moment, sits precariously close to the absolute bottom of $0.0001), and while we can't be sure whether this has anything to do with it, we do know that the dilution didn't stop at the end of last year. According to GGSM's profile at the OTC Markets, on February 2, the O/S count was sitting at almost 840 million. Nevada's Secretary of State's website tells us that in May 2014, the number of authorized shares was upped to around 2 billion, but apparently, GGSM's management team has decided that the shareholders don't need to know that. The action is not reported in the latest 10-Q.

All in all, the company is in a bit of a mess at the moment. The promises from the press releases rarely come true, the reports are shocking, and the printing press is firing on all cylinders. Despite this, on Friday, GGSM experienced a wild trading session.

Sound familiar??? Same things happening at PGPM. Company is dark, never reports. Authorized shares jumped from 2 Billion to 5 Billion on April 28th, but shareholder's were NEVER notified. OTC was NEVER updated. It's been 11 business days. What is Mr. Pinedo waiting for?

https://www.hotstocked.com/article/89915/gold-and-gemstone-mining-inc-otcmkts-ggsm-gets-a.html

All imho