Petrogress Inc. (PGAS)

[ShortsFail]

New PR out today:

https://ih.advfn.com/p.php?pid=nmona&article=75898663&symbol=PGAS

Explanation of Responses:
(1) On July 13, 2017 Petrogress, Inc. issued a $1,000,000 Revolving Line of Credit Note ("LOC Note") in favor of the Reporting Person. The LOC Note bears interest payable on the outstanding principal at a rate of eight percent (8%) per annum. The Reporting Person may demand payment of any or all of the interest due on the LOC Note principal amount by delivery of a number of shares of Common Stock converted at a rate of $0.001 per share.





INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response... 0.5

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940


1. Name and Address of Reporting Person *
Traios Christos P

2. Date of Event Requiring Statement (MM/DD/YYYY)
10/12/2017

3. Issuer Name and Ticker or Trading Symbol
Petrogress, Inc. [PGAS]

(Last) (First) (Middle)
10 SP TRIKOUPI STREET, 5TH FLOOR

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director ___ X ___ 10% Owner
___ X ___ Officer (give title below) _____ Other (specify below)
President, CEO and CFO /

(Street)
PIRAEUS, J3 18538

(City) (State) (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)



6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 2. Amount of Securities Beneficially Owned
(Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, par value $0.001 115000000 D
Series A Preferred Stock, par value $0.001 100 D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4) 2. Date Exercisable and Expiration Date
(MM/DD/YYYY) 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Purchase Warrant 7/3/2017 7/3/2022 Common Stock, par value $0.001 15000000 $0.0500 D
Revolving Line of Credit Note 7/13/2017 7/13/2018 Common Stock, par value $0.001 (1) $0.0010 D
Explanation of Responses:
(1) On July 13, 2017 Petrogress, Inc. issued a $1,000,000 Revolving Line of Credit Note ("LOC Note") in favor of the Reporting Person. The LOC Note bears interest payable on the outstanding principal at a rate of eight percent (8%) per annum. The Reporting Person may demand payment of any or all of the interest due on the LOC Note principal amount by delivery of a number of shares of Common Stock converted at a rate of $0.001 per share.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Traios Christos P
10 SP TRIKOUPI STREET
5TH FLOOR
PIRAEUS, J3 18538 X X President, CEO and CFO

Signatures
/s/ Christos P. Traios 10/12/2017
** Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Petrogress, Inc. (USOTC:PGAS)
Historical Stock Chart
1 Year : From Oct 2016 to Oct 2017
Click Here for more Petrogress, Inc. Charts.
Petrogress, Inc. (USOTC:PGAS)
Intraday Stock Chart
Today : Thursday 19 October 2017
Click Here for more Petrogress, Inc. Charts.