Petro USA Inc (PBAJ)

[georgie18]

ATPT...0004...Buying into the 80/1 reverse split...Chart looks appealing as well with a hammer close and Psar ready to flip to a bullish buy position...Descending Triangle breakout is setting up as well...

https://www.otcmarkets.com/stock/ATPT/filings

SECTION 8 - OTHER EVENTS

Item 8.01. Other Events.

The Company on December 12, 2017 announced that it is going through an 80-1 reverse split of its existing shares rounded off to 100 shares minimum round lots, and to reduce its authorized Common Stock from 7,000,000,000 to 500,000,000 Common Stock. Therefore, its 2,964,182,540 issued Common Stock will be reduced to approximately 37,060,000 before rounding off.

The Company is a small cap development stage company and therefore desires for its long-term plan to no longer be classified as a penny stock company. The SEC defines “penny stock” to a security issued by a very small company that trades at less than $5 per share. The SEC further states that Penny Stocks may trade infrequently, which means that it may be difficult to sell penny stock shares once you own them. Moreover, because it may be difficult to find quotations for certain penny stocks, they may be difficult, or even impossible, to accurately price. For those reasons as well as our intention to bring real value to our shareholders, the Company cannot reasonably defend having nearly 3 billion shares issued or having 7 billion shares authorized. The Company plans for the near future to file a Form S-1 registration and be a fully compliant public company.