Pilgrim Petroleum Corp. (PGPM)

[1manband]

A corporation is considered to have an infinite life. It is like a person - anything that has happened to it in the past affects its future. If a person loses an arm, they can't regrow it - it affects them from that point forward.

The same is true of a corporation - if something happened in the past, you can't ignore it. It may require disclosure, especially in a non-SEC registrant that was dark for 4 years. You can't ignore what happened in those 4 years.

But no doubt the stock was suspended for the fraudulent disclosure in the current "financial statements". Such as the claim of "proven reserves" where none exist, and the fraudulent valuation of $40+ million for oil and gas which not only does not exist, but could not be assigned that kind of value even if it did.

This is pretty basic stuff. The laws are black and white, and PGPM clearly violated them.