Pilgrim Petroleum Corp. (PGPM)

[penn_e_pincher]

Hello, boxter. Where did you find the 1.5 billion o/s figure?

I would be elated if the stock were trading at 0.01.

I read your earlier messages about monetizing the note that they had placed on PGPM's balance sheet as an investment. It's an investment whose returns haven't been realized yet, and whose true value we are honestly still a bit fuzzy about. It's of no use if you don't actually get oil out of the ground or sell the lease rights so PGPM can either way get paid on the note.

This is a game of "Who's the greater fool?" With the parity price formula I calculated and already posted, PGPM should be at 0.0237 based on IMVS's closing price today of 1.50 and an O/S of 855 million for PGPM. If there are 1.5 billion PGPM outstanding, then the price at parity would be 0.0135 which as you said is still a phenomenal gain from today's price. So, I'm either a fool for NOT buying PGPM, or a fool for buying it. Well, PGPM ain't budging as IMVS climbs higher, and on super-low volume no yet -- an easily manufactured move. We need the claimed value to actually be realized as you have said all along. I wouldn't bet my life savings on this, and you don't have to in order to make alot of money if it turns out ok. Don't risk more than you would be willing to lose if you lost it all. We'll see how it turns out.

-penn_e_pincher