Pilgrim Petroleum Corp. (PGPM)

[penn_e_pincher]

I understand your frustration. I'm holding 2 million shares of this stock. I don't think anyone should be making absolute statements either way. If it's an opinion it should be represented as such. I looked up the SEC bulletin on suspensions and here's an excerpt:

Why would the SEC suspend trading in a stock?
The SEC may suspend trading in a stock when the Commission is of the opinion that a suspension is required to protect investors and the public interest. Circumstances that might lead the Commission to suspend trading include:
• A lack of current, accurate, or adequate information about the company, for example, when a company is not current in its lings of periodic reports;
• Questions about the accuracy of publicly available information, including in company press
releases and reports, about the company’s current operational status, nancial condition, or business transactions;
• Questions about trading in the stock, including trading by insiders, potential market manipulation, and the ability to clear and settle transactions in the stock.

https://www.sec.gov/investor/alerts/tradingsuspensions.pdf

Lots of good info in there and I can't read all of it right now, but under "What happens after 10-day suspension ends" they point out that the company may still have serious legal problems and they may continue to investigate to determine if fraud occurred. "To determine whether it has defrauded investors" is the exact wording. Although the SEC says itself that they don't issue suspensions lightly, I don't think anyone can say that fraud is a foregone conclusion. Let's let the SEC do their job and see what they say.