Pilgrim Petroleum Corp. (PGPM)

[1manband]

No proof of false or misleading statements from the company

Absolutely there is. I could name at least 10 right now, but just on the properties, they claimed to acquire properties with "Proven Reserves" when factually they have none. And this is not an insignificant issue. Proven Reserves is a legal term with a specific set of requirements. PGPM did not meet any of those requirements. Stating they had "Proven Reserves" is fraudulent.

Same with the valuation they place on their so-called "financial statements". They had no proven reserves, but even if they did, they cannot place the value on them that they did in their financial statements.

Again, absolute lies and clearly fraudulent. Other people have gone to prison for such falsehoods in public companies.