PRD Energy Inc PREGF

RE:cash distribution

[Malpeque2]

Received the final payment of about 4 Cents Canadian yesterday into my TD Waterhouse acct. 

I don't think anyone should do any business with either Michael Greenwood or Graeme Ryder of PRD Energy officers ever again.    Certainly watch your pocketbook. 

At the last filed financials on SEDAR in early 2017 we had about $1.1M  in Cash and Receivables.   With $200K owed to us  by an officer/director of the company for past payments of their Tax obligations!    No way of knowing if we ever collected any of that amount......but in any case it was dissipated thru the G&A expenses during the long wait to final payment.   

Near the end of 2019 we saw the news release that there was $681,589 left in the trust account.   The final payment of 4 cents on 144m shares is about $578,646 so someone "removed" a bit over $100K in the past year for "expenses" to manage a trust acct.   

THere was a previous announcement in 2017/18 that there was a bit over $800,000 in the trust account for the liquidation and that we should expect the funds by the end of 2018.  Tax certificates filed.....etc.....etc............

So in 4 years about $400K was "removed" from the trust account to pay for some pigs at the public trough to file the certtificates and give us a few press releases related to their drawdown of the shareholders funds. 

Scumbags of the highest order  IMO.