Replies to post #18014 on Pilgrim Petroleum Corp. (PGPM)

[bud_fox]

Yes but it is just that, a letter of intent. That means if everything works out perfectly the deal can be closed.

BUT, the deal can be broken for any reason as well and nobody is at fault because it was just an intent.

Everybody's intentions were good but we just couldn't agree on the deal and we decided to break it.

I don't believe it matters if it is in an 8-k?

Maybe this link will help you understand.

http://en.wikipedia.org/wiki/Letter_of_intent