Here's letter to shareholders released on Friday. This might explain more about the website and future. You have to take into consideration that although this company has been around for years as Tensas Inc, it has brand new management and a new business plan.
HOUSTON, Mar 04, 2011 (BUSINESS WIRE) -- PGI Energy, Inc. (Pink Sheets:PGIE):
Letter from Marcellous McZeal, CEO
Dear Shareholders
I know you as our shareholders have experienced a turbulent ride during the market volatility of our stock. We have fielded many calls from shareholders regarding market pricing of our shares. We too are very concerned about the aggressive sell offs and short selling of our stock into the market. Our management team in acquiring the majority interest of the former Tensas, Inc saw this as a great opportunity to build a really great public energy company during a time when energy companies are thriving. There have been many comments and rumors in the blogs that insiders were selling off stock. Let me put to rest this rumor as no employees or officers of this company hold free-trading shares. All of our shares are restricted as controlled shares. We are committed to building this company through acquisition of oil and gas assets in hopes of building real value for our shareholders over time. We have not done a very effective job of communicating our vision to our newly inherited shareholders. We are taking corrective measures by hiring an IR firm Wakabayshi to get out the message to shareholders. We have subscribed to OTCMarkets.Com for reporting financials and to lower cost of press releases to create a high level of transparency. We have hired the accounting firm of McConnell Jones as our auditors to audit the records of Tensas for the past two years, and we are preparing interim financials based upon funds we have brought to the company and assets under management through acquisitions. We are shareholders too with a deep commitment to the growth of this company and its future. We know our website is in need of a drastic makeover as it was developed internally as a quick tool to provide information to shareholders in the interim while a new website is constructed. We have hired a web master to build a professional website that will be informative to shareholders. Lastly we have hired SEC counsel to prepare and file an S-1 filing to enable us to become a fully reporting company. It is our desire to move the company from the pink sheets upward, but that too is a process starting with SEC filings, review, approval, and working with market makers. We are on the road to redemption and we hope to earn the trust and respect of our shareholders that we will act in your best interest to build a strong vibrant company you will be proud to own adding both growth and value!
