PetroSun Inc (PSUD)

[abnpayne]

Hopefully these updates are "let loose."

SCOTTSDALE, AZ, Apr 03, 2008 (MARKET WIRE via COMTEX) -- PetroSun, Inc (PINKSHEETS: PSUD) announced today the following corporate updates.

The Company is committed to filing all financial documents through December 31, 2007 during the month of April. This will allow the company to become compliant with regards to our financial reporting. The financial reports for the first quarter of 2008 and subsequent periods will be filed on a timely basis to allow the Company to achieve a fully reporting status.

The Company website is undergoing an update and should be completed within the next ten days. The modifications will include expanded coverage of our algae-to-biofuels division, including videos and photographs of the algae farm operations. The website will remain online during this process.

FYI- Updated cost of sales column/advertising will include...
Independence Bowl Foundation, Inc.
Notes to Financial Statements
February 28,2007
8. Title Sponsorship
The Foundation reached a title sponsorship agreement with PetroSun, Inc., which commenced August 1, 2006 and shall expire January 1, 2009. The agreement includes the 2006, 2007, and 2008 presentations of the Bowl. The sponsor may extend the terms and conditions to cover the 2009,2010, and 2011 presentations of the Bowl.
Total title sponsorship revenue received during the year ended February 28, 2007 was $520,000.
The following is a schedule by year of future minimum receipts under the title sponsorship
agreement:
2008 $ 980,000
2009 950,000
Total $ 1,930,000
http://app1.lla.state.la.us/PublicReports.nsf/8408B1554849E09C86257354004B69CD/$FILE/00001611.pdf
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