DD Support Board and Research Team

[Joe Burmeister]

Don't you think you are beating on a dead horse?

We already established that there are two different entities: PGI Energy Fund 2010 and PGI Energy Inc. The former was a failed IPO, while the later is a rebirth of the former, but with potential new set of investors yet to be named. There is nothing in the filing that states any relationship of PGI Energy Inc with investors of the former entity (Ebeling Heffernan/Kodiak/etc).

You don't know what happen to the proceeds of that failed IPO, and there could be a perfectly good explanation for it. If the money was returned to the investors, or was legitimately accounted for, then there was no fraud committed. It would be down right foolish for McZeal/Grandy to pull off essentially the same stunt given that there is/was an SEC investigation to the past failed IPO.