Replies to post #5194 on Petrogress Inc. (PGAS)

[RealDutch]

It's even better than I thought. The company didn't become public until Feb 2016. It's a reverse merger. Not that I enjoy reverse mergers, but let me explain.

There hasn't been any dilution over the past 5 quarters. Except for the 10M shares issued to Stidham for his services.

They acquired 2 toxic convertibles as part of the SEA (Securities Exchange Agreement).

Effective with the SEA, Petrogres assumed and acquired two convertible promissory notes that were issued to Mammoth Corporation (“Mammoth”).

And those were settled soon after the reverse merger. For some reason, the note holder was able to get a really good (toxic) price for it. But it was an older note that was settled.

Upon completion of the SEA between the Company and Petrogres, the Company issued to the sole Petrogres shareholder 136,000,000 shares of common stock of the Company in exchange for one hundred percent (100%) of the issued and outstanding share capital of Petrogres from the sole shareholder of Petrogres.

On March 7, 2016, the Company issued 1,000,000 shares of common stock to Mammoth upon the conversion of $2,700 of principal at a conversion price of $0.0027 per share.

On April 11, 2016, the Company issued 6,800,000 shares of common stock to Mammoth upon the conversion of $22,032 of principal at a conversion price of $0.00324 per share.