Petro USA Inc (PBAJ)

[sloan14]

Just talked to Francis after going through the 10q:

A/S 5b shares
O/S 3.6b shares
Francis owns 2.7b

Float 900M

He said that he took over 2 weeks ago and inherited this mess. Prior management over paid themselves and can't do anything about them and epic dropping shares in the market. He will not be diluting nor will he be doing a R/S.

He also said he has upcoming contracts that will be PR'd tomorrow or on Monday. They just put up their first wind turbine and have military contracts along with a bunch of retail stores that are going to buy and sell their solar power panels.

I told him that the 10Q was not what we expected and he said this is where we have to start from. The contracts are big and the PPS should reflect that soon.