$PSGR. I continue to read how Pershing Resources I

$PSGR. I continue to read how Pershing Resources IS a Development Stage Company. Here is the definition of Development Stage Company (from Investopedia):

What is the 'Development Stage'
The development stage is a phase that a company goes through during the preliminary or early state of its corporate life. A development stage company is characterized by its focus on early-stage business activities, such as research and development, market research or construction of manufacturing facilities. Development stage companies are generally underfunded and likely to be on the lookout for sources of capital.

BREAKING DOWN 'Development Stage'
While development stage companies usually have limited revenues and earnings, the prospect of substantial profits in a few years’ time, makes them attractive investments for risk-tolerant investors. Early-stage companies that can successfully grow their business and graduate to the big leagues over a period of time, are likely to reward their shareholders well. Since a substantial proportion of development stage companies fail, a diversified approach is necessary when investing in such companies.


Read more: Development Stage https://www.investopedia.com/terms/d/developm...z54k8z6w2w

NOTE: The definition the Development Stage is in the EARLY exisitence of the company; not 20+ years of Development Stage(s).