PGI Energy, Inc. (PGIE)

[dcool1]

those institutional investors bought shares from the company at a discount, which paid for company expenses. those shares were then dumped into the market, so YES, pgi in a sense did sell us shares, just not directly.

the management my have not taken salaries, but the 20 plus other employees did, which adds up to at least $300k to $500K per quarter. not to mention rent, insurance, and other company expenses.