Pilgrim Petroleum Corp. (PGPM)

[awesomebummer]

And true.


Also, we should be vigilant about the $40 million owed to Pilgrim, especially. I found the info Matt gave earlier to be dangerous, that is, concerning his "willingness" to accept much less, even down to $2.5 million, or further.

In accounting, it doesn't work that way. Insiders cannot decide to have a transaction with an affiliate for a certain sum, and then decide later that affiliate will simply pay less. Self-dealing. Not an arm's length transaction; in fact, that would be subject to a strong lawsuit and regulatory action. If that was the case, EVERY affiliate would be stealing from other affiliates. And not taking action when the properties deteriorate, to protect other corporate insiders, ditto.

As I've written, don't trust anyone, we are not being labeled "misfits" for nothing.