Petrogress Inc (CE) (PGAS) 銘柄情報

re (fka PGAS): whether the company has assets and/or operations the stock can never trade on any public market, so, essentially the private stock is worthless. If indeed there are assets the company can sell those assets and not give any dispensation to shareholders,
and it wouldn't be worth suing the company because a CEO could simply make the money disappear, leaving nothing for shareholders.

It is tantamount to criminal but to the best of my knowledge each company with a revoked stock registration has (so far) never paid a plug nickel to their shareholders.

PGAS screwed its investors, and when I say investors I mean people who got suckered into buying years ago. When this guy out of Greece had no intention on running a sound operation. From the SEC revocation:

Respondent’s violations were recurrent in that it has failed to file required annual and
quarterly reports over multiple years.19 These violations are serious because “reporting
requirements are ‘the primary tool[s] which Congress has fashioned for the protection of
investors from negligent, careless, and deliberate misrepresentations in the sale of stock and
securities.’”20 An issuer’s failure to file periodic reports violates “a central provision of the
Exchange Act . . . , depriv[ing] both existing and prospective holders of its registered stock of the
ability to make informed investment decisions based on current and reliable information.”21 That
Respondent repeatedly ignored its reporting obligations evinces “a ‘high degree of
culpability.’”22 And because Respondent failed to answer the OIP or respond to the show cause
order, it has submitted no evidence of any efforts to remedy its past violations and ensure future
compliance. Nor has it made any assurances against further violations.

Thanks for sharing. So is this technically a shell ticker that someone can take custody of?

PGAS SEC registration revoked.

https://www.sec.gov/files/litigation/opinions/2025/34-102162.pdf

Probably........

Is this going to just get delisted and it all goes away?

Ha ha if you go to the website and click on the "stock performance" tab at the bottom of the page it says "error 404 not found".

Won't file but still operate a website and businesses. Scumbags to the 9s!
https://www.petrogressinc.com/

Best o' luck, and thanks for our message exchanges.

True, it wasn't. Well, I guess another one bit the dust. Truly sad that the CEO scumbag wouldn't spend the monies to retain compliance.
Thanks for the info and education. Hopefully I'll be able to apply my losess to my hopeful unrealized gains.

Your other stock must not have been under an SEC Admin. Proceeding for delinquent Financials for you to still own public stock that could trade.

Although this post is dated the principles still prevail and I assure you the SEC Admin. Law Judges will revoke Petrogress Inc.'s stock registration(s).

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167347498

***Once the SEC tightened the rules for Rule 15c2-11 all OTC stocks (SEC registered or Alternate reporting) were required to provide current and accurate disclosures or those stocks would lose quotations. They could still trade but Market Makers were forbidden from quoting bids and asks or volumes for any stock not compliant with Rule 15c2-11. There was no longer any pressing need for the SEC to file Admin. Proceedings for SEC Registered companies that were severely delinquent in filing Financials. However, the SEC has periodically filed Admin. Proceedings for some SEC Registered companies that are severely delinquent in filing Financials.....like PGAS.

Read this board to learn more about SEC Admin. Proceedings for SEC Registered companies that are delinquent in filing Financials:

https://investorshub.advfn.com/SEC-Suspensions-and-Revocations-25334

Receivership is the alternative. Not saying it will but it's possible for ownership transference. I've had one do that, and maintain the same stock and trade. Your probably right but I've been the recipient of the other alternative. Company has assets and the incentive is there to acquire and manage them.

Regardless to whomever owns the company the SEC Admin Law Judges will still revoke the company's stock registration(s). When that occurs Petrogress Inc. will become a private company. Shareholders will still own their stock but the stock would no longer have a ticker (PGAS) and would not be able to trade on any public market.

Receivership and transference of ownership are additional options, ie Successor..Page IV

B. Whether it is necessary and appropriate for the protection of investors to suspend
for a period not exceeding twelve months or revoke the registration of each class of securities
registered pursuant to Section 12 of the Exchange Act of the Respondent, and any successor
under Exchange Act Rules 12b-2 or 12g-3, and any new corporate names of the Respondent.

Unfortunately it is too late for the company to remedy the delinquent Financials because the SEC will pursue having the company's stock registration(s) revoked. That will mean the trading ticker will no longer exist when the SEC Admin Law Judges eventually revoke the company's stock registration(s).

Only took 3 years.. eh? Well, receivership is possible and asset seizures as well?? Might force the CEO to finally update and file?
Good find. Keep us updated.
Sad that it's come to this but there are real assets available and hopefully the CEO gets a prison sentence thereafters..

PGAS: SEC Admin. Proceeding for severely delinquent Financials:

https://www.sec.gov/files/litigation/admin/2024/34-100822.pdf

Let's hope so!!!!!!

Sizeable volume. Could there be compliance filings in the wings??

Technically the assets are shareholder property. CEO should and could be removed given the lack of fiduciary management. Receivership is a viable pathway and despite the assets being in Africa, I have to believe that eventually someone will pursue the assets.

wow this thing is finished or was a while ago. Haven't checked in on it in a long time. Black diamonds on OTC markets.

Unless Receivership is petitioned and granted, don't see this returning. There's been ample time for filings. The OTC MMS shorting campaigners have contributed to this. Why comply and file if your not going to get a reasonable valuation of market cap and fair trade on your stock??
Let's hope there's an interested party willing to pursue the assets..

Do you still have his contact? Think he would ever bring this back to reporting lol

Could this ever come back? Worth a lotto ya think?

OTC is responding better now. Hopefully the CEO will file and retain compliance. Needs to capitalize on the momentum. Would be nice to see the market cap return to intrinsic asset value.

Unless receivership happens, I doubt this comes back. CEO just doesn't give a fiduciary fuck.

Money inflows on OTC accelerating. One of the lowest floats here. CEO would do well to update and regain full compliance. Hello corporate??

Control of assets and liabilities. Compliance fees and back filings. Not for the uneducated or outsider, but worth the efforts given the assets to debts. Bwdik

I am assuming if you go for receivership, you then assume all the liabilities. I wonder if they have loans payments due or in default. That seems like it would come with the package. Then you have to pay some lawyers to get compliant on reporting. Guess we will wait more since I cant do anything with these shares.

I am, and I don't know how long, but it'll require someone to petition the court to obtain it. I don't think anyone has but wdik? Got to wonder why someone hasn't. They have real tangible assets in the millions. Wtf??

You still holding this? Any idea how much longer before a court could get involved and grant receivership?

We have 4 shares traded today boys. Wow we are moving on up!

I don't think the company will allow that. I believe that opens the door to Receivership. They'll probably milk this too the fullest time allowance. If it gets fully delisted, the courts could grant Receivership and the CEO would essentially lose controls of assets and possibly stock holdings.

At what point does an OTC get delisted? I dont want that to happen but im stuck and it sucks!

it’s dead

management just decided to walk away from this one? they are not updating their filings why? anybody home?

Even more volume today. Huh I wonder whats up.

PGAS has some volume today. Actually has had some daily volume this week, but today has the most volume so far I have seen in a while. Something is up.

Could a resurrection be around the corner?
https://apnews.com/article/russia-ukraine-middle-east-africa-business-senegal-52c9da7d4d79d99fef1e35d0430dba25

With the ever changing geo political and energy landscape changing, PGAS, should it regain full compliance, could well be in a position of benefiting in an outright sale or merger. Europe is now, and for the foreseeable future, dependent on energy beyond the Russian pipeline. As in all aspects of life, knowing when and how to adjust, are important in obtaining survival and success.
Will see if the new supply and demand metrics affect this issue.

Tanker values are at their highest levels in over 13 years. Tangible asset values are only increasing. Will management be savvy enough to cash in on this opportunistic times? Still pink although currently on CE. You just never know.

Could be a partial order or additional signaling for all we know. It's on the expert market so they'll have no bid ask mm prints. The expert market is the ultimate screw job on sells and buys buy.. experts. Unless they file, or a court ordered attempt at receivership, the black mamba continues..

two days in a row of a little volume. kinda strange even though it’s hardly any shares. l2 has no MM on ask or bid for me

MM signal. Usually keep over head resistance but to early to tell what's going on. Nothing on filings. I'm actuallyhoping for a receivership play to eliminate current corporate management. They, it, him, needs to go..

400 shares just went through to bump it up 25%. wonder what that is all about

The only logical reason would be to pick up cheap shares. Not sure how that's legal but given their last delay and then disclose a 800k gas convenient store, beyond the pale doesn't even come close. Like I said, a court petitioned receivership would be a great justified move and compensation for shareholders. Would love to see the ceo lose it all. Could very well happen given the tangible assets.

this stock had so much potential. blows my mind how this ended up

Looks like the stock will be revoked. Filing or preferably a receivership is the only way back. This level of ignorance and willful negligence, by a company with real tangibles, is a new kind of pond scum low. I can only hope that a receiver steps in and invalidates the CEO shares and assets.

Europe will need to import oil products, mainly diesel, from regions such as the US, Middle East, India and other Asian countries. Russian diesel exports will also have to find new customers, presumably in places like Latin America, Africa and Turkey, while some may potentially also go to Asia, Torm said.

“We expect further support to the product tanker trade from the need to replenish both commercial and strategic oil inventories in many countries,” it said.

Tanker demand is also being supported by refinery closures in importing regions — partly due to the green energy transition and the hit from the Covid pandemic — and new capacity being built in exporters. Torm said it has seen a big jump in imports from Australia, New Zealand and South Africa, where refineries recently closed, and expects the general trend to continue.

File or Receivership. Either way the assets are there and somebody's going to make bank.

https://gcaptain.com/eu-ban-on-russian-fuel-imports-seen-as-boon-for-global-tanker-demand/

oops I mixed that up with another ticker. Sorry