DD Support Board and Research Team

[valdai]

PGI Energy hasn't earned a dime

http://houston.citybizlist.com/17/2010/8/6/PGI-Energy-Fund-I-Plans-4.3M-IPO--cbl.aspx

By citybizlist Staff

HOUSTON -- PGI Energy Fund I Series 2010 Inc. plans to raise $4.25 million by selling up to 85 million shares at 5 cents apiece in an initial public offering, according to an SEC filing.

The Houston-based company, which plans to acquire oil and gas properties and serve as a holding company for such assets, intends to use a $100 million funding, pledged by New York-based Kodiak Capital Group LLC, as operational capital.

Between Feb. 18, the date of its inception, and April 30, PGI Energy reported a loss of $109,698. It has no oil and gas assets yet and has recorded no revenue.

Founder Robert Gandy holds an 18 percent stake, while CEO Marcellous McZeal owns 17 percent of the company.

S-1 filing: http://tinyurl.com/3xvjbll