Replies to post #18087 on Pilgrim Petroleum Corp. (PGPM)

[awesomebummer]

You can do more than just "see"...


Quote: "like to see how they get around that"


Send a letter to:

M&K, CPAS, PLLC
13831 Northwest Freeway Suite 575
Houston, Texas 77040
832-242-9950

And identify yourself as a shareholder of Arcland Energy Corp., and that there was an exchange of oil properties between it and a related company, Pilgrim Petroleum, AND

that you want a full review performed of this transaction(s) with appropriate corrective actions to be taken. Please add you have been informed by the President of PGPM that the properties have been allowed (by ACLY) to deteriorate. You can be non-specific, the duty to be specific remains with the accountants!

These are the new ACLY accountants, and they are preparing financial statements for 2008, 2009, and 2010, which hopefully covers the time period in question.

[bobbertino]

So, it's "worse" than a 75% loss from the $40M Note.
How much worse? 90%?
Even at a 90% loss, 10% of $40M would be $4M.
At this point, I'll take it.
With, of couse, HUGE u n r e s t r i c t e d
shares in ACLY.

Even if we only get $4M (10% of the Promissory Note),
that would make the PGPM pps .004.

And it will give us CASH to get this
Corporation that I invested in
back in shape to actually produce something.

I agree.
NO promissory note.
NO worthless paper.
NO restricted shares.
NO B. S.!!!

I wish I could get away with only paying back
10% on a Promissory Note. Yeah, sure. Like that
will ever happen.

All skepticism and sarcasm aside, it does a p p e a r to be a Win - Win situation for PGPM.

Unless, of course, we get screwed again.

I have optimistically revised my Green Date to Thanksgiving, 2014.