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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.)
|
Large
accelerated filer _______
|
Accelerated
filer _______
|
Non-accelerated
filer _______
|
Smaller
reporting company X
|
(Do not
check if a smaller reporting company)
|
Emerging
growth company _______
|
Title
of each class
|
Trading
Symbol(s)
|
Name of
each exchange on which registered
|
None
|
Inapplicable
|
Inapplicable
|
|
Form 10
- Q
Page
No.
|
PART
I FINANCIAL
INFORMATION
|
|
|
|
|
|
|
|
3
|
|
|
|
4
|
|
|
|
5
|
|
|
|
|
|
|
|
6
|
|
|
|
7
|
|
|
|
8
|
|
|
|
13
|
|
|
|
20
|
|
|
|
20
|
|
|
|
PART
II OTHER
INFORMATION
|
|
|
|
21
|
|
|
|
21
|
|
|
|
21
|
|
|
|
21
|
|
|
|
21
|
|
|
|
21
|
|
|
|
21
|
|
|
|
22
|
|
|
|
23
|
|
Three Months Ended
|
Six Months Ended
|
||
|
June 30,
|
June 30,
|
June 30,
|
June 30,
|
|
2020
|
2019
|
2020
|
2019
|
REVENUES
|
|
|
|
|
Interest
income
|
$-
|
$-
|
$-
|
$1
|
Other
income
|
-
|
3
|
-
|
3
|
|
-
|
3
|
-
|
4
|
COSTS
AND EXPENSES
|
|
|
|
|
Interest
|
353
|
353
|
708
|
703
|
Taxes
and assessments
|
1
|
1
|
2
|
2
|
Consulting
and accounting-
|
|
|
|
|
related
party
|
9
|
9
|
18
|
18
|
Legal
and professional
|
5
|
18
|
35
|
47
|
General
and administrative
|
10
|
14
|
14
|
29
|
|
378
|
395
|
777
|
799
|
NET
LOSS
|
$(378)
|
$(392)
|
$(777)
|
$(795)
|
|
|
|
|
|
NET
LOSS PER SHARE(*)
|
|
|
|
|
AVAILABLE
TO COMMON
|
|
|
|
|
STOCKHOLDERS-Basic
and diluted
|
$(0.10)
|
$(0.10)
|
$(0.21)
|
$(0.21)
|
|
Six Months Ended
|
|
|
June 30,
|
June 30,
|
|
2020
|
2019
|
|
|
|
Net
cash used in operating activities
|
$(75)
|
$(145)
|
|
|
|
Net
change in cash
|
(75)
|
(145)
|
|
|
|
Cash
at beginning of period
|
309
|
526
|
|
|
|
Cash
at end of period
|
$234
|
$381
|
|
Preferred Stock
|
Common Stock
|
Paid-in
|
Accumulated
|
|
||
|
Shares
|
Par Value
|
Shares
|
Par Value
|
Capital
|
Deficit
|
Total
|
|
|
|
|
|
|
|
|
Balances
at 3/31/20
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(108,993)
|
$(92,963)
|
|
|
|
|
|
|
|
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
(378)
|
(378)
|
Balances
at 6/30/20
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(109,371)
|
$(93,341)
|
|
Preferred Stock
|
Common Stock
|
Paid-in
|
Accumulated
|
|
||
|
Shares
|
Par Value
|
Shares
|
Par Value
|
Capital
|
Deficit
|
Total
|
|
|
|
|
|
|
|
|
Balances
at 3/31/19
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(107,429)
|
$(91,399)
|
|
|
|
|
|
|
|
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
(392)
|
(392)
|
Balances
at 6/30/19
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(107,821)
|
$(91,791)
|
|
Preferred Stock
|
Common Stock
|
Paid-in
|
Accumulated
|
|
||
|
Shares
|
Par Value
|
Shares
|
Par Value
|
Capital
|
Deficit
|
Total
|
|
|
|
|
|
|
|
|
Balances
at 1/1/20
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(108,594)
|
$(92,564)
|
|
|
|
|
|
|
|
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
(777)
|
(777)
|
Balances
at 6/30/20
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(109,371)
|
$(93,341)
|
|
Preferred Stock
|
Common Stock
|
Paid-in
|
Accumulated
|
|
||
|
Shares
|
Par Value
|
Shares
|
Par Value
|
Capital
|
Deficit
|
Total
|
|
|
|
|
|
|
|
|
Balances
at 1/1/19
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(107,026)
|
$(90,996)
|
|
|
|
|
|
|
|
|
Net
Loss
|
-
|
-
|
-
|
-
|
-
|
(795)
|
(795)
|
Balances
at 6/30/19
|
2,000,000
|
$2,000
|
5,317,758
|
$532
|
$13,498
|
$(107,821)
|
$(91,791)
|
|
Three Months Ended
|
Six Months Ended
|
||
|
June 30,
|
June 30,
|
June 30,
|
June 30,
|
|
2020
|
2019
|
2020
|
2019
|
|
($ in
thousands, except share and per share data)
|
|||
|
|
|
|
|
Net
Loss
|
$(378)
|
$(392)
|
$(777)
|
$(795)
|
|
|
|
|
|
Preferred
dividends
|
(160)
|
(160)
|
(320)
|
(320)
|
|
|
|
|
|
Loss
Available to
|
$(538)
|
$(552)
|
$(1,097)
|
$(1,115)
|
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)
|
$(0.10)
|
$(0.21)
|
$(0.21)
|
|
June 30,
|
December 31,
|
|
2020
|
2019
|
|
($ in
thousands)
|
|
Fully
improved land
|
$14
|
$14
|
|
June 30,
|
December 31,
|
|
2020
|
2019
|
|
($ in
thousands)
|
|
Accounts
payable
|
$5
|
$-
|
Accrued
accounting review and
|
|
|
tax
preparation expense
|
2
|
13
|
Accrued
consulting fees-related party
|
-
|
1
|
Accrued
legal
|
-
|
1
|
Accrued
debenture fees
|
153
|
153
|
Accrued
miscellaneous
|
1
|
1
|
|
$161
|
$169
|
|
|
|
Accrued
real estate taxes consisted of:
|
|
|
Current
real estate taxes
|
$2
|
$-
|
|
June 30,
|
December 31,
|
|
2020
|
2019
|
|
($ in
thousands)
|
|
Deferred
tax asset
|
|
|
Net
operating loss carryforward
|
$17,719
|
$17,522
|
Expenses
capitalized under IRC 263(a)
|
37
|
37
|
Tax
credits (AMT)
|
57
|
57
|
Valuation
allowance
|
(17,813)
|
(17,616)
|
Total
deferred tax asset
|
-
|
-
|
|
(Decrease)
|
|
($ in
thousands)
|
Legal
common title matters
|
$(7)
|
Legal
Form 8K review
|
(4)
|
Legal
review filing of periodic reports
|
(1)
|
Legal
research "going concern" alternatives
|
(1)
|
|
$(13)
|
|
(Decrease)
|
|
($ in
thousands)
|
Legal
common title matters
|
$(7)
|
Legal
Form 8K review
|
(4)
|
Legal
review filing of periodic reports
|
(1)
|
|
$(12)
|
|
June 30,
|
December 31,
|
|
|
2020
|
2019
|
(Decrease)
|
|
($ in
thousands)
|
||
Cash
|
$234
|
$309
|
$(75)
|
Land
inventory
|
14
|
14
|
-
|
Restricted
sinking fund
|
13
|
13
|
-
|
|
$261
|
$336
|
$(75)
|
|
June 30,
|
December 31,
|
Increase
|
|
2020
|
2019
|
(Decrease)
|
|
($ in
thousands)
|
||
Accounts
payable and accrued expenses
|
$161
|
$169
|
$(8)
|
Accrued
real estate taxes
|
2
|
-
|
2
|
Accrued
interest
|
84,078
|
83,370
|
708
|
Credit
agreements:
|
|
|
-
|
Notes
payable
|
1,198
|
1,198
|
-
|
Subordinated
convertible
|
|
|
|
debentures
payable
|
8,163
|
8,163
|
-
|
|
|
|
|
|
$93,602
|
$92,900
|
$702
|
|
PGI
INCORPORATED
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
Date: August 14,
2020
|
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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