Replies to post #18098 on Pilgrim Petroleum Corp. (PGPM)

[duratrader]

Remember we do own 20% but we don't own 20% posting. The 2 -10%s can't be added together. So we own 10% and we own 10% I don't know how that works out legally. Also we don't have a seat on the ACLY board. Part of the deal should include a board seat to protect our share interest.
I'll take any cash that they can give us, but I will take shares in this way-

Some Restricted-Some Warrants-Some unrestricted(Tradable Immediately)

Hope your reading Matt

Hey, How bout letting me negotiate with RP...LOL

The only non-taxable event to PGPM would be the acquisition of shares of ACLY that are then distributed as a dividend to PGPM shareholders.