Replies to post #3443 on Pilgrim Petroleum Corp. (PGPM)

[Crimson]

Analysis of the Report

I just looked through the balance sheet, statement of net income and statement of cash flows and these are the numbers that stand out

For three months ending Sept 30
Operating Activities
Cash from operations: $239,219

Investment:
Fixed Asset Purchases $20,200

Financing Actiivities
Common Stock Issuance $473,000

The company has no long term debt as shown in the balance sheet
And all liabilities are operating liabilities that are either current or accrued.

I will have do a more detailed analysis to get an idea of how the company is running its business..
We have to assume that the management has used aggressive accounting methods to make these numbers look good...
Analysis in a few days..

Crimson