Replies to post #58575 on Pilgrim Petroleum Corp. (PGPM)

[scoobie420]

Yeah they'll buy back shares at .0001 which is where it's going when trading resumes. Expect to lose almost everything you have on this. I was in the immg halt, it went from 1.22 when halted and opened around. 15 when it resumed. I think it's at .02 now.

[1manband]

still have the share buyback to look forward to, thats huge

There is no share buyback. It is a lie used to promote the stock. Companies just cannot buy back shares whenever they feel like it. There are specific laws about that, and PGPM does not meet any of the legal requirements necessary to begin repurchasing shares. They lied - again, more evidence of intentional fraud in this stock.

and file to begin trading on an exchange again

PGPM has never filed, and was never traded on an Exchange. OTCMarkets has no exchanges - they are a for-profit PR company, and they invented those market "tiers" in order to charge companies so they can pretend they mean something and help them promote their stock. They are meaningless - all OTC companies with a 15c2-11 trade in exactly the same way, regardless of whether they pay OTCMarkets a yearly fee to trade on their "market tiers" or not. But for PGPM, it doesn't matter. They would need to file a Registration Statement with the SEC and get it through the review process, which they have no hope of doing.

Once they come back and in current status/ SEC reporting it will pay off. I dont see this being deregistered/revoked.

PGPM was never an SEC registrant. OTCMarkets is not the SEC and there is no relationship between the two. OTCMarkets is just a paid stock promoter who charges companies to post documents on their website, most of which are completely bogus and designed for nothing more but to entice uninformed people to buy their stock. PGPM was never reporting to the SEC., and never will be. But that also means they can't be revoked, as they never had an SEC registration in the first place. Instead, the stock will languish on the gray market until FINRA gets around to deleting the ticker some time down the road.