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Share Name | Share Symbol | Market | Type |
---|---|---|---|
P G I Incorporated (CE) | USOTC:PGAI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0002 | 0.00 | 01:00:00 |
|
Three Months Ended
|
Nine Months Ended
|
||
|
September 30,
|
September 30,
|
September 30,
|
September 30,
|
|
2017
|
2016
|
2017
|
2016
|
REVENUES
|
|
|
|
|
Real
estate sales
|
$
-
|
$
-
|
$
-
|
$
9,000
|
Interest
income-related party
|
6
|
-
|
7
|
2
|
Interest
income
|
1
|
1
|
2
|
1
|
|
7
|
1
|
9
|
9,003
|
COSTS,
EXPENSES AND OTHER
|
|
|
|
|
Cost
of real estate sales
|
|
|
|
|
and
expenses of sale
|
-
|
-
|
-
|
745
|
Interest
|
341
|
332
|
1,016
|
990
|
Interest-related
party
|
-
|
-
|
-
|
3,832
|
Taxes
and assessments
|
2
|
1
|
4
|
5
|
Consulting
and accounting-
|
|
|
|
|
related
party
|
9
|
10
|
28
|
28
|
Legal
and professional
|
2
|
4
|
27
|
15
|
General
and administrative
|
19
|
18
|
65
|
58
|
|
373
|
365
|
1,140
|
5,673
|
Net
Income (Loss)
|
(366
)
|
(364
)
|
(1,131
)
|
3,330
|
before
income taxes
|
|
|
|
|
Income
tax expense
|
-
|
-
|
(57
)
|
-
|
NET
INCOME (LOSS)
|
$
(366
)
|
$
(364
)
|
$
(1,188
)
|
$
3,330
|
|
|
|
|
|
NET
INCOME (LOSS) PER SHARE(*)
|
|
|
|
|
AVAILABLE
TO COMMON
|
|
|
|
|
STOCKHOLDERS-BASIC
|
$
(0.10
)
|
$
(0.10
)
|
$
(0.31
)
|
$
0.54
|
|
|
|
|
|
NET
INCOME (LOSS) PER SHARE(*)
|
|
|
|
|
AVAILABLE
TO COMMON
|
|
|
|
|
STOCKHOLDERS-DILUTED
|
$
(0.10
)
|
$
(0.10
)
|
$
(0.31
)
|
$
0.38
|
|
Nine Months Ended
|
|
|
September 30,
|
September 30,
|
|
2017
|
2016
|
|
|
|
Net
cash provided by (used in) operating activities
|
$
(232
)
|
$
2,846
|
Cash
Flows from investing activities:
|
|
|
Investment
in notes receivable-related party
|
(560
)
|
-
|
Payments
received on notes receivable-related party
|
-
|
178
|
Release
of restricted cash
|
-
|
5
|
Net
cash provided by (used in) investing activities
|
(560
)
|
183
|
|
|
|
Cash
flows from financing activities:
|
|
|
Principal
payments on debt-related party
|
-
|
(2,000
)
|
Net
cash used in financing activities
|
-
|
(2,000
)
|
|
|
|
Net
change in cash
|
(792
)
|
1,029
|
|
|
|
Cash
at beginning of period
|
958
|
1
|
|
|
|
Cash
at end of period
|
$
166
|
$
1,030
|
|
Three Months Ended
|
Nine Months Ended
|
||
|
September 30,
|
September 30,
|
September 30,
|
September 30,
|
|
2017
|
2016
|
2017
|
2016
|
|
($ in
thousands, except share and per share data)
|
|||
Net
Income (Loss)
|
$
(366
)
|
$
(364
)
|
$
(1,188
)
|
$
3,330
|
Preferred
dividends
|
(160
)
|
(160
)
|
(480
)
|
(480
)
|
Income
(Loss) Available to
|
|
|
|
|
Common
shareholders
|
$
(526
)
|
$
(524
)
|
$
(1,668
)
|
$
2,850
|
|
|
|
|
|
Weighted
Average Number
|
|
|
|
|
Of
Common Shares
|
|
|
|
|
Outstanding
|
5,317,758
|
5,317,758
|
5,317,758
|
5,317,758
|
|
|
|
|
|
Weighted
Average Number
|
|
|
|
|
Of
Common Shares
|
|
|
|
|
Outstanding
(Diluted)
|
5,317,758
|
5,317,758
|
5,317,758
|
10,095,525
|
|
|
|
|
|
Basic
Income (Loss)
|
|
|
|
|
Per
Common Share
|
$
(0.10
)
|
$
(0.10
)
|
$
(0.31
)
|
$
0.54
|
|
|
|
|
|
Diluted
Income (Loss)
|
|
|
|
|
Per
Common Share
|
$
(0.10
)
|
$
(0.10
)
|
$
(0.31
)
|
$
0.38
|
|
September 30,
|
December 31,
|
|
2017
|
2016
|
|
($ in
thousands)
|
|
Notes
receivable - related party
|
$
560
|
$
-
|
Interest
receivable - related party
|
7
|
-
|
|
$
567
|
$
-
|
|
September 30,
|
December 31,
|
|
2017
|
2016
|
|
($ in
thousands)
|
|
Fully
improved land
|
$
14
|
$
14
|
|
September 30,
|
December 31,
|
|
2017
|
2016
|
|
($ in
thousands)
|
|
Accounts
payable
|
$
6
|
$
26
|
Accrued
audit & professional
|
43
|
46
|
Accrued
consulting fees-related party
|
1
|
1
|
Environmental
remediation obligations
|
-
|
19
|
Accrued
debenture fees
|
143
|
137
|
Accrued
miscellaneous
|
1
|
1
|
|
$
194
|
$
230
|
|
|
|
Accrued
real estate taxes consisted of:
|
|
|
Current
real estate taxes
|
$
3
|
$
4
|
|
September
30,
|
December
31,
|
|
2017
|
2016
|
|
($ in
thousands)
|
|
Deferred
tax asset
|
|
|
Net
operating loss carryforward
|
$
25,691
|
$
25,240
|
Expenses
capitalized under IRC 263(a)
|
56
|
56
|
Environmental
liability
|
7
|
7
|
Valuation
allowance
|
(25,754
)
|
(25,303
)
|
Total
deferred tax asset
|
$
-
|
$
-
|
|
September 30,
|
December 31,
|
Increase
|
|
2017
|
2016
|
(Decrease)
|
|
|
($ in
thousands)
|
|
Cash
|
$
166
|
$
958
|
$
(792
)
|
Receivables-related
party
|
567
|
-
|
567
|
Recoverable
income taxes
|
18
|
-
|
18
|
Land
and improvement inventories
|
14
|
14
|
-
|
Restricted
sinking fund
|
41
|
41
|
-
|
Other
assets
|
1
|
1
|
-
|
|
$
807
|
$
1,014
|
$
(207
)
|
|
September 30,
|
December 31,
|
Increase
|
|
2017
|
2016
|
(Decrease)
|
|
|
($ in
thousands)
|
|
Accounts
payable and accrued expenses
|
$
194
|
$
230
|
$
(36
)
|
Accrued
real estate taxes
|
3
|
4
|
(1
)
|
Accrued
interest
|
80,821
|
79,804
|
1,017
|
Credit
agreements:
|
|
|
-
|
Notes
payable
|
1,198
|
1,198
|
-
|
Subordinated
convertible
|
|
|
|
debentures payable
|
8,472
|
8,472
|
-
|
|
|
|
|
|
$
90,688
|
$
89,708
|
$
980
|
|
PGI
INCORPORATED
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
Date:
November 13,
2017
|
By:
|
/s/ Laurence A.
Schiffer
|
|
|
|
Laurence A. Schiffer |
|
|
|
President |
|
|
|
(Duly Authorized Officer, Principal Executive Officer and Principal Financial Officer) |
|
Exhibit No.
|
|
Description
|
|
|
|
2
|
|
Inapplicable.
|
|
|
|
3.(i)
|
|
Inapplicable.
|
|
|
|
3.(ii)
|
|
Inapplicable.
|
|
|
|
4
|
|
Inapplicable.
|
|
|
|
10
|
|
Inapplicable.
|
|
|
|
11
|
|
Statement
re: Computation of Per Share Earnings (Set forth in Note 2 of the
Notes to Condensed Consolidated Financial Statements (Unaudited)
herein).
|
|
|
|
15
|
|
Inapplicable.
|
|
|
|
18
|
|
Inapplicable.
|
|
|
|
19
|
|
Inapplicable.
|
|
|
|
22
|
|
Inapplicable.
|
|
|
|
23
|
|
Inapplicable.
|
|
|
|
24.
|
|
Inapplicable.
|
|
|
|
|
Principal
Executive Officer certification pursuant to Rule 13a-14(a) or
15d-14(a) under the Securities Exchange Act of 1934, as
amended.
|
|
|
|
|
|
Principal
Financial Officer certification pursuant to Rule 13a-14(a) or
15d-14(a) under the Securities Exchange Act of 1934, as
amended.
|
|
|
|
|
|
Chief
Executive Officer certification pursuant to 18 U.S.C. Section
1350.
|
|
|
|
|
|
Chief
Financial Officer certification pursuant to 18 U.S.C. Section
1350.
|
|
|
|
|
95
|
|
Inapplicable.
|
|
|
|
99
|
|
Inapplicable.
|
|
|
|
100
|
|
Inapplicable.
|
|
|
|
101
|
|
Instance
Document, Schema Document, Calculation Linkbase Document, Labels
Linkbase Document, Presentation Linkbase Document and Definition
Linkbase Document.*
|
1 Year P G I (CE) Chart |
1 Month P G I (CE) Chart |
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