Pilgrim Petroleum Corp. (PGPM)

[masc2279]

Could you give an example, i have not heard of a company doing so ever. I have heard of and seen the outstanding shares being held if they originally had a restricted sale tagged to them carry over with the same restriction to the new company but i have never seen nor heard of a company being allowed to restrict the float count.

The float is the shares traded on the open market freely without restrictions (Float is the shares traded by you and me). they were purchased openly they can't be forced to be held in restriction when merging or being bought out. they would have to by the float out and resell the shares as restricted. to obtain that situation you have spelled out.

the only other option that i know of is having the halt the ticker for a cooling off period which is usually suicide.

Now i am open to learning if i am wrong but wow that situation would be new to me.