Statement of Ownership (sc 13g)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
Petron Energy II, Inc.
(Name of Issuer)
Common Stock, Par Value $0.00001 per share
(Title of Class of Securities)
71674W402
(CUSIP Number)
September 3, 2014
(Date of Event which Requires Filing of this Statement)
1.
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PE Asset #1 Corp. (1)
EIN # 61-1687229
(1) Daniel Vesco is the President of PE Asset #1 Corp., and in such capacity holds investment discretion and voting power over securities held by PE Asset #1 Corp.
(2) Includes (i) 314 shares of Common Stock; and (ii) 1,292,176,000 shares of Common Stock issuable upon conversion of 484,566 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”) of Petron Energy II, Inc. (the “Issuer”)(which hypothetical conversion is described below). Shares of Series B Preferred Stock (which have a conversion face value of $1.00 per share) convert into Common Stock of the Issuer based on the average trading price of the Issuer’s common stock on the five trading days prior to the date of conversion. The securities reported in rows (6), (8) and (9) include the aggregate number of shares of Common Stock issuable to PE Asset #1 Corp. upon conversion of the Series B Convertible Preferred Stock owned by PE Asset #1 Corp. based on the hypothetical complete conversion of the Series B Convertible Preferred Stock on the date of this filing, based on a conversion price equal to the average of the last five trading prices of the Issuer’s Common Stock on the date prior to this filing ($0.00038 per share, or a conversion ratio of 2,666:1). Notwithstanding such disclosure, the terms of the Series B Preferred Stock include a blocker provision under which the reporting person can only convert the Series B Preferred Stock to a point where it would beneficially own a maximum of 9.99% of the Issuer’s outstanding shares of Common Stock (the “Blocker”).
(3) Based on 189,087,731 outstanding shares of common stock of the Issuer as of February 9, 2015, as disclosed on the Issuer’s website on February 13, 2015 (www.petronenergyii.com/investors/). As more fully described in footnote (2) above, certain of the reported securities are subject to a 9.99% Blocker and the percentage set forth in row (11) gives effect to such Blocker. However, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that are beneficially owned by the reporting person including shares of Common Stock that would be issuable upon the hypothetical full conversion of the Series B Preferred Stock and do not give effect to such Blocker. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such Blocker, is less than the number of securities reported in rows (6), (8)................................................................................................DANIEL VESCO HOLDS 484,566 SERIES B PERRFERRED SHARES OF PEII, EQUALS TOO 1 BILLION 292 MILLION 177 THOUSAND SHARES OF COMMON PEII SHARES-------------------------------PEII CURRENTLY TRADES ONLY TO PAY OFF THE REMAINING CONVERTIBLE DEBT NOTES, WHEN THESE NOTES ARE PAID DOWN, FROM THESE VERY DESPERATE IDIOTS CURRENTLY BUYING SHARES, REMAINING PEII ASSETS WHICH ARE CONSIDERABLE, SHALL BE DIVIDED BY lordly FLOYD, DANIEL VESCO AND THE DIRECTORS OF THIS MASSIVE UNCHECKED SCAM....CHS1
AI
