[PHGI]: What happened to the ONE BILLION DOLLARS in assets that Perihelion Global, Inc. claimed that it moved into PHGI?
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Did PHGI's CEO issue a false and misleading press release regarding the assets contained in the company by a multiple of several hundred times in this May 8, 2007 press release?
The stock traded as low as $0.003/share today. With a minimum of 367 million fully diluted common shares outstanding, the total market value for the whole company is only $1.1 million at this stock price. It seems that the market certainly doesn't believe that there are $1.0 billion in assets in PHGI.
What's wrong with this picture?
Lets see what the Perihelion Global, Inc. audited financials look like once they are filed with the SEC.
http://www.marketwire.com/mw/release.do?id=732932&sourceType=1
SOURCE: Perihelion Global
May 08, 2007 08:45 ET
Perihelion Global to Acquire OTC:BB Listing in Proposed Transaction
WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- May 8, 2007 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company's Board of Directors has approved, via unanimous consent, a resolution authorizing Perihelion Global to uplist to the NASDAQ Over-the-Counter Bulletin Board (OTC:BB) by means of an acquisition of a fully reporting shell company.
Background on the Transaction
Perihelion Global went public via a reverse merger on the Pinksheets in the 3rd Quarter of 2006, and since that time has moved nearly $1B USD in assets into the corporation. It has become clear to management that in the best interest of Perihelion shareholders, the company should expeditiously move to increase its visibility, liquidity, and corporate transparency by consummating a transaction to have its common shares listed on the NASDAQ OTC:BB. At the close of business on Monday, May 7, Perihelion's market capitalization was a fraction of the corporation's asset value and clearly not representative of the corporation's revenue potential....
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.
Did PHGI's CEO issue a false and misleading press release regarding the assets contained in the company by a multiple of several hundred times in this May 8, 2007 press release?
The stock traded as low as $0.003/share today. With a minimum of 367 million fully diluted common shares outstanding, the total market value for the whole company is only $1.1 million at this stock price. It seems that the market certainly doesn't believe that there are $1.0 billion in assets in PHGI.
What's wrong with this picture?
Lets see what the Perihelion Global, Inc. audited financials look like once they are filed with the SEC.
http://www.marketwire.com/mw/release.do?id=732932&sourceType=1
SOURCE: Perihelion Global
May 08, 2007 08:45 ET
Perihelion Global to Acquire OTC:BB Listing in Proposed Transaction
WILMINGTON, DE and SANTA ROSA BEACH, FL -- (MARKET WIRE) -- May 8, 2007 -- Perihelion Global (PINKSHEETS: PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today announced that the company's Board of Directors has approved, via unanimous consent, a resolution authorizing Perihelion Global to uplist to the NASDAQ Over-the-Counter Bulletin Board (OTC:BB) by means of an acquisition of a fully reporting shell company.
Background on the Transaction
Perihelion Global went public via a reverse merger on the Pinksheets in the 3rd Quarter of 2006, and since that time has moved nearly $1B USD in assets into the corporation. It has become clear to management that in the best interest of Perihelion shareholders, the company should expeditiously move to increase its visibility, liquidity, and corporate transparency by consummating a transaction to have its common shares listed on the NASDAQ OTC:BB. At the close of business on Monday, May 7, Perihelion's market capitalization was a fraction of the corporation's asset value and clearly not representative of the corporation's revenue potential....
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posted by the_worm06 | 10/23/2007 07:30:00 PM
3 Comments:
Hang tight, little wormy one, and just watch what happens.
Hang tight?
FOR WHAT????
Is that the best you've got?
I posted this elsewhere, but I'll post it again here. On the Perihelion Global website is a link to the statement that the Opp, Alabama refinery is online and producing biodiesel. That is a crock. I live in Opp, AL and there aren't even any permanent buildings on the property, much less an "online refinery". I'd be more than willing to send some of the digital pictures I have of the place for your site.
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