Petrogress Inc. (PGAS)

[RealDutch]

Yes. I thought the older note was exchanged for the new LOC agreement. Which is why he received those warrants for 5c.

Until recently, this note was a verbal agreement between the CEO and "the company". They filed it on friday.

https://www.sec.gov/Archives/edgar/data/1558465/000143774917021113/ex_102419.htm

I mean, come on... even if he is legally entitled to those shares, the company could easily have prepaid the older note from the cash balance. The Board, the company or whatever, has failed miserably. You have to wonder if they have a BOD even, looking out for the shareholders. It's just Traios apparently, looking after himself.

So then, why does he need all those shares? Perhaps more dilution coming as they finance operations.

To me, the value is gone. Poof. I sold on friday.
Perhaps some people thought it could be worse, which is why the stock was up on friday. Don't know. Each to their own.