I contacted PGL yesterday and asked them to consider elevating...

I contacted PGL yesterday and asked them to consider elevating the Nasdaq PGLAF share to ADR. level one.

The answer was that they are watching expenditure and that sofar no commitment had been made.

How many shares has PGL got? Answ: a paltry 33.9 mill and there are listed 4.2 mill options. There are also another unlisted 3.42 mill options of which 0.7 mill were issued as a success fee for raising capital.

I can't find anything about Director's dealings in shares in the 1999-2004 period, neither were there option conversions.

That is highly unusual but it does show a very high standard of corporate responsibility.

Jan 1, 2004: Cash: $15 mill. Outflow for 6 months: $ 1.9 mill. There was revenue of $3.1 mill in the 6 months.

Gerry
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