Replies to post #7419 on Pilgrim Petroleum Corp. (PGPM)

[deafchild]

Last trade IMVS $1.01. What is going on here? Could it be that the company is driving it up so they can dump shares at a hefty price?

If you click on the message board of IMVS, this is what it reads in the title bar.

Implantable Vision, Prior to RM with Oil & Gas Leases of Lariat Energy, Pilgrim & American Petroleum (IMVS.OB)

http://messages.finance.yahoo.com/mb/IMVS.OB

[downsideup]

Well, IMVS has moved from $0.30 to $1.00 on only around 2000 shares... which, to me, says "It's not real" now... but also says that someone intends it to happen and look the way it does...

Others here are correct, of course... depending on the prices at which any conversions happen... one of the impacts of having higher IMVS share prices, to the degree there are FUTURE payments made in IMVS shares, is that a larger transfer of value from PGPM shareholders to Lariat or IMVS will occur if inflated IMVS share prices are used to make payments to PGPM. Were Lariat to pay off the debt to PGPM in shares priced at $0.30, or in shares priced at $1.00, the real value of the assets transferred will remain fairly constant... while the "real" value of an IMVS share is an open question... and can decline as rapidly as it has gone up ???

It looks now like IMVS will end up with 100% of the PGPM assets while having paid PGPM for only something like 30% of them... The rest of the assets, transferred from Lariat to IMVS, were also PGPM assets which Lariat still hasn't paid for... so, the "good" news, I guess, is, given the number of IMVS shares that will be outstanding... with IMVS priced at $1.00... it would take MORE THAN all of Lariat's IMVS shares to pay off the $40 million Lariat debt to PGPM...

If PGPM demands payment from Lariat in IMVS shares... what percentage of IMVS will PGPM shareholders end up owning ???
And how much of IMVS will be owned by others than PGPM shareholders ?

It does look like you might get close to having the books balance given the numbers we see now... which would simplify the situation and reduce the unanswered questions to three:

1. Does Lariat intend to pay their debt to PGPM with IMVS shares ?

2. What are the assets really worth... and what does that make an IMVS share, and thus a PGPM share, worth... in real terms and in market terms ?

3. What percentage of the assets (now, IMVS shares) are being or will be diverted from ownership by PGPM shareholders... and what are reasonable terms for PGPM shareholders to expect ?