Replies to post #1645 on Pledge Petroleum Corp. (fka PROP)

[Dina]

You said they want to dissolve the company and it´s completely over, but Pre filing sounds different:

"What will happen to the Company after the Asset Sale and will any of the proceeds from the Asset Sale be distributed to me?

A: If the requisite stockholder approval for the Asset Sale Proposal is obtained and we complete the Asset Sale, we intend to use some or all of the proceeds from the Asset Sale, along with other cash on our balance sheet, to consummate the Share Repurchase upon the closing of the Asset Sale. As of January 31, 2018, we had approximately $8,560,000 of cash and will receive $650,000 in the Asset Sale, but will use $8,500,000 in the Share Repurchase. This will leave us with approximately $710,000 in cash which, together with other potential sources of debt and equity financing, we expect to use to acquire additional businesses in the oil and gas industry, which include potentially acquiring an oilfield services business currently owned by two of our current directors. "
https://backend.otcmarkets.com/otcapi/company/sec-filings/12539418/content/html