Pilgrim Petroleum Corp. (PGPM)

[Dallas66]

something to think about...this is supposedly a reverse merger of two publicly traded companies...typically a reverse merger is where a private company mergers into and becomes the public company...assuming all debt, assets, share structure, and corporate obligations. The previous public company is absorbed into the private company taking over. This is a typical process for a private company to become a publicly traded company with minimal costs and time constraints. Also, typically the public company is one with little to no assets, and normally a dormant shell or "shelf" company with a clean filing history.

In this case, we have two public companies that will merger and become one. This is typically done when to companies compliment each other and the new whole becomes a greater value than the two separate companies.

Questions to answer

Why would a viable, honest, public company choose to merger with another public company:

1. With a proven history of failure after failure.

2. With a proven history of no income, or assets of value.

3. With a proven history of judgements against them.

4. with a proven history of SEC suspensions / investigations.

5. Will the SEC and FINRA even allow this merger to take place.