SOURCE: PGI Energy

PGI Energy

September 02, 2011 11:23 ET

PGI Energy Letter to Shareholders

HOUSTON, TX--(Marketwire - Sep 2, 2011) - PGI Energy, Inc. (PINKSHEETS: PGIE) - The executive team wants to take this opportunity to address shareholders regarding its decision to issue a stock dividend. We received numerous calls and emails from shareholders expressing their desire that the company not issue the stock dividend over fears of dilution. Consequently, the management team reconsidered its decision, and decided to issue a preferred stock as a dividend convertible to common shares one year from date of issuance. The stock dividend will still occur on September 15, 2011. We hope this addresses shareholder concerns over dilution, since the preferred stock will be restricted.

The management team in its efforts to grow the company and generate revenues for the company has utilized its common stock to acquire its two most recent oil assets in Texas and Kentucky. The company utilizes any and every financing vehicle to acquire assets and maintain its operations.

There is an ever growing concern about whether the management team is diluting their shares. Management still owns 100% of their shares as the shares are restricted. Management does not have a gag on the transfer agent. The transfer agent cannot release information to shareholders without company consent each time and the company will incur a cost per call for processing information request. The company cannot afford this unnecessary expense and burden.

The company plans to move to the Frankfurt Exchange in its efforts to eliminate short sellers from pushing the stock down and profiting from their activity including using the investor boards to push stocks down through bashing reputable companies. In the EU investors are not permitted to short stock. The company plans to complete the transition through a merger, thereby converting all existing shareholders stock to the Frankfurt Company. The company intends to initially maintain dual listing of the stock on both the FSE and the OTC until market stability is achieved with a fair stock price on the FSE. We believe shareholders will have greater value in the EU market as energy companies involved in green energy solutions such as PGI, typically are highly favored by EU markets because they are well ahead of the curb in utilizing green fuels and products.

The company plans to post its financials at the end of the third quarter and hold a shareholders conference call to discuss progress and future growth plans. We were very aggressive in our approach through partnership efforts and acquisitions. We will unveil our written business plan with earnings guidance for fourth quarter earnings and through year 2012.

The company has made every effort to be transparent through press releases, and website postings as we received numerous calls from investors requesting news asking when the company will be releasing news. We tried to appease our investors with accurate information on a weekly basis consistent with our business activity. We hired an IR firm at the insistence of our shareholders which cost the company money, in the interest of market awareness.

We look forward to building a long relationship with our shareholders and adding value!

About us
PGI Energy, Inc. is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.

PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering, PGI Green E & P and PGI Commodities Trading.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "intends, "plans," "should," "seeks," "pro forma," "anticipates," "estimates," "continues," or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under "Risk Factors" and "Our Business." Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.

For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us

Contact Information

  • Contact

    Media/PR
    PGI Energy, Inc.
    Jose I. Colon
    832-900-1400

    IR Firm:
    Brass Financial LLC
    14 Wall Street, 20th Floor
    New York, NY 10005
    www.BrassFinancial.net