PGI Energy, Inc. (PGIE)

[dcool1]

just because they authorized 1B shares does not necessarily mean they will issue them. they would be damn fools to put more on the streets at this time. not to mention, 1B shares at .01 is only worth 10M dollars!

they could be preparing for future financing if they the run into trouble in africa or on some other project. it would be a tragedy if they started a $650M power plant project and then ran out of money.

i'm quite sure whoever is funding that project or others are going to want preferred stock as collateral. and to issue preferred stock, you have to have common stock available to convert when it becomes due.

nevertheless, pgi has some explaining to do!