Pilgrim Petroleum Corp. (PGPM)

[ncpti]

Mr. Smith, I have a few questions, comments/opinions that maybe you can address-

I see you have issued a Public Release dated July 25, 2017. Reading therein,

I understand you have sent, answered, altered and adjusted your reporting to SEC and DTCC for review-
Q: Do you have a time frame for this review?

Pilgrim has started an initiative to revitalize the Company and stock value
Q: What would you consider the value of this company currently and in the near future?
The current value is what is listed on the Grey Market now and will be dwindling down to ??? "soon".

Q: The PR indicates that you intend to revitalize the company by executing- LOI for a reverse acquisition with another public company. This amalgamation would occur over two phases including a compliance and filing phase followed by a formal execution and ultimately corporate actions.
LOI- Letter of Intent is it executed by PGPM or another company wanting to assume? Please make this public...

O: filing phase followed by a formal execution and ultimately corporate actions.
The companies share structure is very unattractive to an assuming company, does the above statement mean there will be a reverse share split prior to intended reverse merger?

Q: The company has set a goal of having field services to work in additional 5 wells by Mid-August 2017. "We'll continue to bring inactive wells into production optimizing our oil & gas production through greater production rates, reduced costs, and improved recovery techniques."
Is this indicating that there are current wells that are in production that have not been disclosed since you are continuing to bring wells in production???? What are they and where are
they?

Q: As stated before the operation plan is the same and with help from our affiliates will continue to strive to our focus on reserve value creation and asset divestiture to other entities who will pay premiums for reliable and optimized production, such as Master Limited Partnerships (MLPs).
Indicating that you have affiliates, who are they? Who are the Master Limited Partnerships? What is their incentives?

So while trying to remain Neutral/Positive, this PR is telling me...a simple common share holder, that PGPM is trying to skate around SEC by moving assets and company to another shell because the financials won't hold muster.....and if the new shell has anything to do with Rafael Pinedo, board, chair, CEO or anything connected....this goes in the toilet!