Replies to post #57680 on Pilgrim Petroleum Corp. (PGPM)

[55cruiser]

Maybe Pinedo got pushed out and wasn't happy about it

[Icy_CT]

Errr, sorry but this scam runs deep. At this point it's a safe assumption that there were absolutely no plans to get this "company" running anything. We've been had. He sold us 800M+ shares and got out.

At least, that's the most likely scenario. I'd *love* to believe otherwise, particularly given how many shares I held onto like an idiot, but the odds of anything good happening here are next to nothing.

[Santes8]

You're assuming the $3M is real...

[doogdilinger]

I won't say for sure...but it looks to me like some entity cleared approximately 850M shares around the time PGPM hit 2 cents per share and then unloaded it.

If the filings were inaccurate right up until the point that the t/a reported the 2B O/S...followed by PGPM quickly rushing to put a press release and supplemental filing claiming the 1.15B O/S previously reported in all their financials/filings and on otc markets was erroneous...then they would've been able to easily provide that proof to the SEC directly from the independent transfer agent themselves!

But the fact remains that contrary to their reported 1.15B o/s which the transfer agent had been reporting as well...there suddenly became a time when the story flipped overnight to say that all the publicly disseminated Outstanding Share structure was supposedly wrong...and that instead of a 1.15B o/s it had supposedly always been a 2B o/s...so from my vantage point that appears to be the red herring most likely responsible for the suspension.

After all...if it was just fraudulent info contained in their posted financials...why would mgmt. even do such a thing. The only reason any OTC company has for posting fraudulent info in their fins is so that some other entity can sell shares right!

Anyways one way or another the truth will come to light...but for sure if I had to guess I would say the suspension arises from the discrepancy in the publicly disseminated o/s and what entity/entities may have enriched themselves from the reported O/S discrepancy.

[Homebrew]

Of course stinky-pinkies lie. Who would buy their shares if they told the truth??

IMO PGPM had no reason to lie about their financials. They were sitting on an oil field with 3m cash to get it back in working order. If something shady was happening, it was completely unnecessary.