Pilgrim Petroleum Corporation (PGPM), an oil and gas exploration development (E&D) company with a focus on proven fields exploited by well managed independent oil companies extracting reserves at lower risk and lower cost than unproven prospects...
"Under the terms of the Agreement, shareholders of Pilgrim will be receiving 1(one) share of stock on the newly public company for every share of PGPM hold in the form of a dividend. Due diligence for the completion of this transaction will be scheduled to be completed in February 2018"
What the hell does this mean? And what part of Nigeria is this company from?
I happened across PDXP a couple days ago. Don't know much yet but a few points are:
1 Repeat reverse splits 2. New CEO, a Patrick Johnson, ex NFL player, who also is CEO of CHIT(nice symbol, eh) which has done three R/S's, including two whoppers at 1-30k and 25k!!!! yikes 3. Co claims to be reducing debt--hell if I know or care, but they have negative cash, and a fair bit of debt. Did they actually reduce the 0/S-- at any time after the last r/s? I dunno. 4. Co has put out news about two agreements, LOI's or whatever ya wanna call them, one is weed related and likely will amount to nothing.
the other is with this shadowy outfit, with grandiose claims on their very basic website. http://www.nvcfund.com/Home.html The key part: We manage assets valued at over USD 128 Billion Dollars. Our asset base includes proven and appraised gold, platinum, palladium, rhodium and other mineral reserves such as oil and gas. Bwahaaaaa
https://www.linkedin.com/in/frank-ekejija-6516014 Be sure to check out his profile..... so they manage a trillion dollars worth of..... what? And which is it, $128 billion, or a trillion? And, why stop there?!!! Geesh!
Anyhow the most recent news announced an LOI with a "division" of NVH Fund that would bring $350m of assets into play to somehow work in PDXP's favor. Too funny...betcha a wooden nickel those assets are vapor.