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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 |
FLORIDA
|
59-0867335
|
(State or other
jurisdiction of incorporation)
|
(I.R.S. Employer
Identification No.)
|
212
SOUTH CENTRAL, SUITE 304, ST. LOUIS, MISSOURI
|
63105
|
(Address of
principal executive offices)
|
(Zip
code)
|
Title
of each class
|
Trading
Symbol(s)
|
Name of
each exchange on which registered
|
None
|
Inapplicable
|
Inapplicable
|
|
|
|
|
|
Form
10-Q
Page
No.
|
FINANCIAL
INFORMATION
|
|
|
Financial Statements
|
3
|
|
|
Condensed Consolidated Statements of Financial
Position
|
|
|
June 30, 2019 (Unaudited) and December 31, 2018
|
|
|
|
|
|
Condensed Consolidated Statements of Operations (Unaudited) |
4
|
|
Three and Six Months Ended June 30, 2019 and 2018
|
|
|
|
|
|
Condensed Consolidated Statements of Cash Flows (Unaudited) |
5
|
|
Six Months Ended June 30, 2019 and 2018
|
|
|
|
|
|
Notes to Condensed Consolidated Financial Statements (Unaudited) |
6
|
|
|
|
Management's Discussion and Analysis of |
11
|
|
|
Financial Condition and Results of Operations
|
|
|
|
|
Quantitative and Qualitative Disclosures About Market Risk |
18
|
|
|
|
|
Controls and Procedures
|
18
|
|
|
|
|
OTHER INFORMATION
|
|
|
|
|
|
Legal Proceedings
|
19
|
|
|
|
|
Risk Factors
|
19
|
|
|
|
|
Unregistered Sales of Equity Securities and Use of Proceeds |
19
|
|
|
|
|
Defaults Upon Senior Securities
|
19
|
|
|
|
|
Mine Safety Disclosures
|
19
|
|
|
|
|
Other Information
|
19
|
|
|
|
|
Exhibits
|
19
|
|
|
|
|
SIGNATURE
|
|
20
|
|
|
|
EXHIBIT INDEX
|
|
21
|
|
|
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
June
30,
|
June
30,
|
June
30,
|
June
30,
|
|
2019
|
2018
|
2019
|
2018
|
REVENUES
|
(Unaudited)
|
|||
Interest
income
|
$
-
|
$
1
|
$
1
|
$
2
|
Interest
income-related party
|
-
|
-
|
-
|
4
|
Other
income
|
3
|
-
|
3
|
-
|
|
3
|
1
|
4
|
6
|
COSTS
AND EXPENSES
|
|
|
|
|
Interest
|
353
|
347
|
703
|
692
|
Forgiveness
of debt
|
|
|
|
|
and
interest
|
-
|
(111
)
|
-
|
(443
)
|
Taxes
and assessments
|
1
|
2
|
2
|
3
|
Consulting
and accounting-
|
|
|
|
|
related
party
|
9
|
9
|
18
|
18
|
Legal
and professional
|
18
|
24
|
47
|
28
|
General
and administrative
|
14
|
20
|
29
|
41
|
|
395
|
291
|
799
|
339
|
NET
LOSS
|
(392
)
|
(290
)
|
(795
)
|
(333
)
|
|
|
|
|
|
NET
LOSS PER SHARE(*)
|
|
|
|
|
AVAILABLE
TO COMMON
|
|
|
|
|
STOCKHOLDERS-Basic
and diluted
|
$
(0.10
)
|
$
(0.08
)
|
$
(0.21
)
|
$
(0.12
)
|
|
|
|
|
|
*Considers
the effect of dividends on preferred stock for the three and six
months ended
|
||||
June
30, 2019 and 2018.
|
|
|
|
|
|
Six
Months Ended
|
|
|
June
30,
|
June
30,
|
|
2019
|
2018
|
|
(Unaudited)
|
|
Net
cash used in operating activities
|
$
(145
)
|
$
(90
)
|
Cash
Flows from investing activities:
|
|
|
Payments
received on notes receivable-related party
|
-
|
560
|
Net
cash provided by (used in) investing activities
|
-
|
560
|
|
|
|
Net
change in cash
|
(145
)
|
470
|
|
|
|
Cash
at beginning of period
|
526
|
159
|
|
|
|
Cash
at end of period
|
$
381
|
$
629
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
June
30,
|
June
30,
|
June
30,
|
June
30,
|
|
2019
|
2018
|
2019
|
2018
|
|
($ in
thousands, except share and per share data)
|
|||
|
|
|
|
|
Net
Loss
|
$
(392
)
|
$
(290
)
|
$
(795
)
|
$
(333
)
|
|
|
|
|
|
Preferred
dividends
|
(160
)
|
(160
)
|
(320
)
|
(320
)
|
|
|
|
|
|
Loss
Available to
|
$
(552
)
|
$
(450
)
|
$
(1,115
)
|
$
(653
)
|
Common shareholders
|
|
|
|
|
|
|
|
|
|
Basic
and Diluted
|
|
|
|
|
Weighted Average Number
|
|
|
|
|
Of
Common Shares
|
|
|
|
|
Outstanding
|
5,317,758
|
5,317,758
|
5,317,758
|
5,317,758
|
|
|
|
|
|
Basic
and Diluted Loss
|
|
|
|
|
Per
Common Share
|
$
(0.10
)
|
$
(0.08
)
|
$
(0.21
)
|
$
(0.12
)
|
|
June
30,
|
December
31,
|
|
2019
|
2018
|
|
($ in
thousands)
|
|
Fully
improved land
|
$
14
|
$
14
|
|
June
30,
|
December
31,
|
|
2019
|
2018
|
|
($ in
thousands)
|
|
Accounts
payable
|
$
10
|
$
18
|
Accrued
audit & professional
|
10
|
43
|
Accrued
legal
|
-
|
14
|
Accrued
consulting fees-related party
|
1
|
1
|
Accrued
debenture fees
|
153
|
153
|
Accrued
miscellaneous
|
1
|
1
|
|
$
175
|
$
230
|
|
|
|
Accrued real estate taxes consisted of:
|
|
|
Current
real estate taxes
|
$
2
|
$
-
|
|
June
30,
|
December
31,
|
|
2019
|
2018
|
|
($ in
thousands)
|
|
Deferred
tax asset
|
|
|
Net
operating loss carryforward
|
$
17,325
|
$
17,119
|
Expenses
capitalized under IRC 263(a)
|
37
|
37
|
Tax
credits (AMT)
|
57
|
57
|
Valuation
allowance
|
(17,419
)
|
(17,213
)
|
Total
deferred tax asset
|
-
|
-
|
|
June
30,
|
December
31,
|
Increase
|
|
2019
|
2018
|
(Decrease)
|
|
|
($ in
thousands)
|
|
Cash
|
$
381
|
$
526
|
$
(145
)
|
Land
inventory
|
14
|
14
|
-
|
Restricted
sinking fund
|
13
|
13
|
-
|
|
$
408
|
$
553
|
$
(145
)
|
|
June
30,
|
December
31,
|
Increase
|
|
2019
|
2018
|
(Decrease)
|
|
($ in
thousands)
|
||
Accounts
payable and accrued expenses
|
$
175
|
$
230
|
$
(55
)
|
Accrued
real estate taxes
|
2
|
-
|
2
|
Accrued
interest
|
82,661
|
81,958
|
703
|
Credit
agreements:
|
|
|
-
|
Notes
payable
|
1,198
|
1,198
|
-
|
Subordinated
convertible
|
|
|
|
debentures
payable
|
8,163
|
8,163
|
-
|
|
|
|
|
|
$
92,199
|
$
91,549
|
$
650
|
|
Company Name
|
|
|
|
|
|
|
Date: August 14
,2019
|
By:
|
/s/
Laurence A.
Schiffer
|
|
|
|
Laurence A.
Schiffer
|
|
|
|
President
(Duly Authorized Officer, Principal Executive Officer and Principal Financial Officer) |
|
1 Year P G I (CE) Chart |
1 Month P G I (CE) Chart |
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