Petrogress Inc. (PGAS)

[RealDutch]

Who is holding a lot of shares?

Effective February 29, 2016, the Company issued 1,101,642 shares of the Company’s common stock to Agritek Holdings, Inc. pursuant to a Debt Settlement Agreement in full settlement of the amount owed to Agritek of $283,547.

On March 7, 2016, the Company issued 1,000,000 shares of common stock to Mammoth upon the conversion of $2,700 of principal at a conversion price of $0.0027 per share.

On April 11, 2016, the Company issued 6,800,000 shares of common stock to Mammoth upon the conversion of $22,032 of principal at a conversion price of $0.00324 per share.

And then another 1.6M shares were issued for 0.02 last quarter to settle the remaining debt.

So that's a total of 9.4M shares to settle the Mammoth notes. From the T-trades we get, this appears to be our seller. It just sucks that they haven't sold any shares earlier, in 2016. Perhaps they waited until the last settlement (last quarter). Either way, close to 5M have been dumped in recent weeks. And probably some a few months ago as well. So there shouldn't be much left.