PGI Energy, Inc. (PGIE)

[nodummy]

The "bank" they are referring to is Pythagoras Group which is the company that shares their address and is owned by their majority shareholder Robert Gandy.

I think calling Pythagoras Group a bank is a bit of a stretch. To get any money Pythagoras Group will have to go out and find some financier to provide the money to PGIE. Robert Gandy would then get 6% of the money he finds per his contract.

AGREEMENT WITH PYTHAGORAS GROUP, INC

http://www.sec.gov/Archives/edgar/data/1177019/000120445911000352/exhibit10-7.htm

We have all seen how finding financing has gone for this company in the past so I wouldn't hold my breath on that one. One step at a time here. Don't get wrapped up in the forward looking statements.