Replies to post #51586 on Pilgrim Petroleum Corp. (PGPM)

[big green tractor]

Many people did the same fortunately I held on but I guess when we have a company with this much going for it people get greedy try and create panic to buy more ...

PGPM

[superheated gas]

who was the mod? Pm me if you dont want to tell out loud

[skichic]

Yeah, I was shocked to see what happened. I almost sold myself, but when I really thought about it, I knew they could not have legally done what they were accused of doing and I truly believe PGPM wants to become a legit company. Then many got confirmation from the company via email that nothing had changed and they were devasted as we were. Watch this week, those same people will be long, they got shares in the 2's, which I suspect was the goal. We will see I guess.

[JavisSupreme]

Many were, it was dumping hard either way though. I'd recommend selling on the way up with a ladder tactic. Saves me lots of stress. Get some guranteed profits before a long hold. Best of luck to ya though.

[airman1]

Yes...I Hope company clears all the Friday fake news info?? with a nice pr soon.

[SRV1975]

That is complete Crap..the info that was provided on Friday was excellent info and very good DD. The Increase to the OS was a huge surprise seeing that the company has stated that there is no need for them to issue any shares. As seen in this PR.

May 25, 2017

OTC Disclosure & News Service

Addison, TX -
Pilgrim Petroleum Corporation(PGPM), is an oil and gas exploration- development (E&D) company focus in proven fields exploited by well managed independent oil companies extracting reserves at lower risk and lower cost than unproved prospects; today issued the following letter to shareholders:

Dear Shareholders,

Pilgrim Petroleum Corporation "US Public Corporation" (PGPM) clarify that recent developments related to stock price has nothing to do with dilution, stock sale from insiders or debt conversions issuances. Moreover, the company is more interested in continuing with private capital, from a combination of insiders and certain private individual investors (friends and family). Further, "Management has chosen not to accept typical private equity funding at this time in an effort to maintain complete control and oversight of its operations-assets".

The last public Statement by the company on the OS which it updated on OTC markets was

Share Structure
Market Value1 $3,918,362 a/o Jun 16, 2017
Authorized Shares 2,000,000,000 a/o Apr 27, 2017
Outstanding Shares 1,152,459,514 a/o Apr 27, 2017

This 1,152,459,514 OS amount is repeated in all the posted filings as current as 6/5/17

So when the TA was called Friday and for the first time and reports that the OS is now 2 billion Matching the AS of 2 billion and completely maxing out the Share Structure that is a RED FLAG

Multiple investors called the TA to confirm this and they all received the same info which was 2 billion OS and 2 billion AS.

Now add to that IR stating in an email Friday evening that the OS remains unchanged at 1.6 Billion??????

MUST READ: IMMEDIATE RESPONSE FROM IR!

Hi 

Authorized shares has not been change from 2 Bill for long time, we can NOT do any corporate actions or issuances of shares, the outstanding still the same, the CEDE or Outstanding account should be around 1,6 Bill shares this number have not change since 2012, the rest is restricted. 
Hope this help 
Thanks 

Investor Relations 

They def have some wires crossed and the info given here was a top notch heads up for all invested.

The company and the TA are the ones at fault here and definitely have some explaining to do to sort this out. This was by no means an attempt by any one to create a scare by anyone. Facts were posted and nothing more.

[penn_e_pincher]

Sometimes it hurts to sell into strength, until it's on its way back down and it makes you feel like you should have sold more. Think of your shares as an inventory. You can let go of some at high prices, and if you are wrong about selling you still hold more. If you are right about selling at least you sold some and can get those shares back cheaper. Your inventory should expand and contract in this way, plus you will be a market stabilizer because you buy when nobody wants to buy and sell when nobody wants to sell. You have to use the charts to pick your price points and you won't always be right. I expanded my position again at 0066, but we continued to sell off. My next purchase was at 0024, but for twice as much. The shares bought at 0066 hurts, but my average is somewhere in between. Had another bid at 0021, but low was 0022. The pain goes both ways - hurt when I sold at 0073 on the way up and when I bought at 0066 on the way down. This is why you do it in stages. People talk about accumulation (I'm buying more here because it's cheap), but don't forget about distribution (I'm selling some here because it's expensive). Just my 2 pennies.

PS: obviously know your budget, too. Trading shares exponentially can be dangerous. IE: 100,000 at 0005, 200,000 at 0002, 500,000 at 0001, and then the stock is at 0000 for ten years with a 100% loss on all your shares. No guarantee any stock will "come back"