Replies to post #6888 on Pilgrim Petroleum Corp. (PGPM)

[boxster2008]

While all of us would love to see 30 cents or more per share, that is not even remotely realistic. Given the current outstanding volume, that equates to a market cap of over $250 million. Someone could easily take the company private for $3 million or so (current market cap is about $1.5 million) and pocket nearly $250 million. Not close to real. Based on the conversion rate to thew new company, a more realistic price is about $0.012. Still about 8-10 times todays prices, but not 300 times.