Replies to post #3812 on PGI Energy, Inc. (PGIE)

[amschip]

From PRE 14C:

Number of Shares % of Common Stock
Beneficially Owned (1) Beneficially Owned
Name of Beneficial Owner(1)
Robert Gandy (2) 68,808,533 35 %
Marcellous McZeal 58,121,600 28 %
Carl A. Robinson 5,000,000 2.5 %
Chad Slater 5,000,000 2.5 %
Lionel Johnson 5,000,000 2.5 %
Arael Doolittle 5,000,000 2.5 %
Roger Smith (3) 11,000,000 5.1 %
All executives and directors as a group (6 people) 157,930,133 78.1 %

(1) Beneficial ownership is determined in accordance with Rule 13d-3 under the Securities Exchange Act and is generally determined by “voting power” and/or “investment power” with respect to securities. Unless otherwise noted, all shares of our common stock listed above are owned of record by each individual named as beneficial owner and such individual has sole voting and dispositive power with respect to the shares of our common stock owned by each of them. Such person or entity’s percentage of ownership is determined by assuming that any options or convertible securities held by such person or entity which are exercisable within 60 days from the date hereof have been exercised or converted as the case may be. All addresses, except as noted, are c/o PGI ENERGY, INC. 7322 Southwest Frwy Suite 1100, Houston, TX. 77074.

(2) Robert Gandy is not an officer or director; however he is an affiliate of the company and majority shareholder. Robert Gandy is a beneficial owner of more than 5% of the company common shares, thus deemed a control person. Robert Gandy is the CEO of Pythagoras Group chief credit underwriter. Mr. Gandy is still considered to be a promoter of the Company.

(3) Roger Smith received 10,000,000 shares for providing engineering consulting services to the Company in lieu of cash, and was subsequently elected to the board of directors and accepted his appointment. Robert Gandy gifted 1, 000,000 shares to Roger Smith for assisting him and Pythagoras Group in evaluating engineering reports.



This means only they purchased all 75%!!

[dcool1]

its not as though the group just bought a bunch of shares like you or I would. they bought out the restricted and controling shares.

the group, pgi energy, now controls the company.

as for showing any proof, we'll they don't have that info available, but you can rest assure its going to be in the S-1.