Pilgrim Petroleum Corp. (PGPM)

[SkyeCapital]

Your right, there are not that much trading. I don't know whats going on but i came across this in the SEC filings.
Thats a lot of stock.

SEC July 21, 2008 14 f-1

(5)
Regency owns 318,436 shares of Preferred Stock and JJC Capital owns 562,666
shares of Preferred Stock, each of which shares is convertible into 10 shares of
Common Stock. The Company’s Articles contain provisions known as
"exercise caps," which prohibit any single holder of the shares of Preferred
Stock from converting such shares to the extent that giving effect to such
conversion, such holder
would beneficially own in excess of 4.999% of the
Company’s outstanding Common Stock. The figures set forth above
reflect the operation of such exercise caps in that the Company has not included
8,811,017 shares of Common Stock issuable pursuant to such convertible shares as
Regency and JJC Capital have advised the Company that they do not beneficially
own such shares due to the fact that they cannot exercise their right to receive
such shares at this time. In the absence of such caps, Regency and JJC Capital
would have the right to receive all shares issuable upon conversion of the
shares (3,184,360 and 5,626,660 shares, respectively) and would have beneficial
ownership percentages of approximately 9.6% and 16.9%,
respectively).


good luck good searching