Petro USA Inc (PBAJ)

[DD_dempsey]

Deafcone and ALL here with $ATPT

NO DEBT- MERGER/ACQUISITION PENDING ---

It is my opinion, that we are going to see the attorney letter to go CURRENT as well as company communications to help explain what has been going on here since Mid August 2017. THERE IS A MAJOR MERGER / ACQUISITION IN PLAY and it Appears that it may STILL involve the REAL ESTATE OPERATIONS for the burgeoning "pharmaceutical packaging" industry.

Regardless- Passalaqua is very connected to many Executives and holds quite a few board spots on public companies. There is definitely a reason he went to great lengths to audit and go current again-- and the way this control block is structured - Passalaqua is not going to risk losing control over the company and thus, he can't sell more then 6% - (read below). HE ALSO CANT SELL More than 1% of the total outstanding of 2.6 bil or 26 mil over a 3 month period! This is HUGE value added for shareholders.

NOTE TOO- the ownership block is owned by Sea Alive, LLC, a Wyoming company as of Feb 2017. That is also a company run by Passalaqua. ATPT appears to have had a KY address, but it's a NV company and can be checked via NVSOS,

There are many reasons to be VERY INTRIGUED with $ATPT aside from the 21 financials filed.

1- The CEO owns 57% of the common shares here and MUST MAINTAIN 51% of the control block to be considered OWNERSHIP as deemed below u see the Tax Reform Act of 1986. Therefore, IMO - even though the shares are COMMON and could be free trading (beyond 6 months of ownership since feb 3) - he wouldn't be able to give up more than 6% of the total o/s - or 175mil shares EVER! HE can only , by RULE 144- give up 1% of the total O/S over a 3 month period - which is 26 mil!
TOTAL. Therefore, the CEO would not have spent $80k and $5k to get audited fins all done and set to go CURRENT just to sell his 26mil shares this cheap. No way. I will go into more detail below.

In the 10k---

4.- Capital Stock

The Company has 10,000,000 shares of Preferred Stock authorized at a par value of $0.0001 and none has been issued at June 30, 2017 and 2016.. NO PREFERRED STOCK ISSUED!



2- This stock is listed being in the Pharmaceutical Preperations ONLY since 2010 when the company was taken over by Passalaqua again.

SIC Code 2834 - Pharmaceutical Preparations
Industry : Real Estate Development & Operations
Financials: 06/30


3-NET CARRY OVER LOSS PROVISION--

-The Company has a net operating loss carryover of $659,249 as of June 30, 2011 which expires in 2026. This net carry over provision is still in place. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.

The Company has net operating loss carry forwards that were derived solely from operating losses from prior years. These amounts can be carried forward to offset future taxable income for a period of 20 years for each tax year's loss.

At June 30, 2017 and 2016, the Company has established a valuation allowance equal to the deferred tax assets as there is no assurance that the Company will generate future taxable income to utilize these assets.


4- NO ACCRUED BIZ EXPENSES AND CONVERTIBLE DEBENTURES -- the listed debt here is $26k TOTAL and no convertible debts.

Total Current Liabilities --

ACCOUNTS PAYABLE and accrued Liabilites TOTAL -- $26,550

See the latest 10K here---- https://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=12327439

5-- THE ADDITION OF THIS SPECIFIC SECTION regarding the actual purpose of ATPT Holding company --