I really can't give ANY credence to the thought that "Mike and Pedro just wanted our certs".
Here's why. It's soooo EZ for a company to create new shares to sell, do a R/S, or outright cancel shares. They don't need an elaborate "Scheme" to "get your shares". Points:
1) The company obviously doesn't care about the Pink Sheets price. So whatever they have done, it was NOT to dump shares on the public, nor has the float grown over the last year. Their motivation was not to resell shares on the pink sheets.
2) A company can at will take back 99% of the shares you bought with a R/S. If they wanted them, they could have taken them.
3) A company can at will take back and kill 100% of the shares you bought. Look at Delta airlines - they cancelled ALL shares, and issued new, shiny shares to sell to you.
There are so many other, much much easier ways to get your shares back, the conspiracy doesn't make sense to me. How would getting certs from people be any better than the above methods? Especially if there is no run in PNMS price... especially if PNMS stops issuing PR's under PNMS... they have PREVENTED profit from occuring here on the pink sheets by their lack of promotion, they want out of this rotten market, which is contrary to the underlying points of the conspiracy.