I TOLD YOU THIS MORNING~!!! I hope some of you listed at .15 TSAS News just broke.
Tensas, Inc. Announces New Business Plan and Management
5 minutes ago - BIZ via Comtex
BusinessWire
On January 31, 2011, we entered into an Agreement and sold the Majority Shares we held (the "Share Purchase Agreement") to a buyers group and re-named the Company PGI Energy, Inc., for the purpose of establishing an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil and gas assets, refinery and pipeline sectors of the energy industry and other synergistic assets. The company will only acquire proven producing, and income producing assets. We have hired McConnell & Jones LLP as our auditor to disseminate financial information to our investors about the company.
We, PGI Energy, Inc., formerly known as Tensas, Inc. (the "Company", "we", "us" or "our"), are providing you with information regarding action taken by stockholders holding more than a majority of our voting power. In particular, such action taken authorized the following:
changing our name to PGI Energy, Inc. change from a development stage company to a operating oil and gas company. affecting a three for one forward stock split of our outstanding common stock by paying a dividend of two shares of common stock per share of common stock outstanding.
What does the stock split mean to you as an existing stockholder? You will receive an additional 2 shares for every 1 share you own on the declared delivery date of February 20, 2011 at the last known address recorded by our transfer agent.
The buyers group consisting of a majority shareholders proceeded to elect the following directors and appointment of officers on February 02, 2011:
DIRECTORS AND EXECUTIVE OFFICERS
Our directors and executive officers are as follows:
Age --- Marcellous S. McZeal 40 Chief Executive Officer, and Chairman of the Board of Directors Carl A. Robinson 49 President and Director Chad Slater 34 Vice-President and Director Lionel Johnson 55 Chief Financial Officer and Director Arael Doolittle 45 Chief Operating Officer and Director Roger Smith 61 Director Yvonne Hardy 55 Director
Marcellous McZeal-2010 CEO & Corporate Counsel PGI Energy; 2000-2010 Managing partner in the law firm of Grealish & McZeal LLP in Houston, Texas. Oil and Gas litigation, prepare and examine contracts involving leases, licenses, purchases, sales, insurance; Provides legal advice to oil and gas organization, prepares resolutions and forms, and participates in major legal actions; responsible for foreseeing and protecting the company against legal risks -- Southwestern University, Georgetown, Texas B.A. Degree, May 1991, Finance and Business Major. South Texas College of Law, Houston, Texas, Doctor of Jurisprudence Degree, May 1995 Admitted to Texas Bar; U.S. Court of Appeals for the Fifth Circuit, U.S. District Court for the Western Districts of Texas and Southern District of Texas.
Carl Allen Robinson-2010 President PGI Energy; 2004-2010 Vice president MJLM Wealth Solutions - manager and developer for wealth development, wealth protection, and wealth transfer of firms clients. 1997-2004 Financial Consultant AXA Financial Advisors administered employer-employee benefits, estate planning, tax advantage investments, retirement planning and insurance. Maintains a securities license and life insurance license. University of Texas at Austin B.S. in Communications, 1983.
Chad Slater-2010 Senior Vice-President PGI Energy; Ten years industry experience with a proven track record managing and engineering high voltage projects and overseeing construction of electrical designs. Bachelor of Science in Electrical Engineering December Prairie View A&M University Prairie View, TX 1999. Electrical Engineer BP Texas City Refinery, Texas City, Texas, Electrical Services and Power Distribution, February 2009 -- Present; I & E Maintenance Engineer -- BP Texas City Refinery, Texas City, Texas Maintenance, Reliability and Contract Services, November 2007 -- February 2009; Electrical Engineer, Project Manager -- Center Point Energy, Houston, Texas Major Underground Engineering, January 2004 -- January 2007; Graduate Engineer III -- City of Houston, Houston, TX Bureau of Air Quality Control, March 2003 -- January 2004; DSP Product Engineer -- Texas Instruments, Inc., Stafford, Texas Digital Signal Processing, September 2000 -- January 2003; National Institute of Technology (Everest), Houston, TX Instructor, November 2003 -- June 2004; associate nuclear engineer.... TXU steam station Comanche peak.... 1999-2000
Arael Doolittle-2010 Chief Operating Officer PGI Energy; 2006-Present Pinnacle Title Company owner/vice-president Develop and implement policies and procedures indicated by the Texas Department of Insurance. Close loans and disburse loans. Responsible for the productivity and budgetary performance of the operations department. Review title documents, easements and mitigate any open issues. Act as liaison between customers and Title Company. University of Illinois, B.A. Liberal Arts & Communications 1988.
Lionel Johnson-2010 Chief Financial Officer PGI Energy; 2008-2010 Senior Contract Compliance Officer City of Houston; 2007-2008 Toloje Group as management consultant; 1994-2006 BSCI, Inc. Houston, TX Operations Manager; 1990-1994 Unity National Bank as Vice President/Compliance Officer; 1987-1990 State of Texas Department of Banking, Austin, TX as Bank Examiner. University of Texas, Austin, TX. B.S. degree, and Rice University Executive Education Program (Operational Analysis).
Roger Smith as a board member. Roger Smith has over 30 years drilling, completion, work over and production experience with a B.A. in Mechanical Engineering. Mr. Smith is the CEO of The Sanday Corporation and is an advisor to Petrohawk and K&M Technology Group. He has provided consulting review for the acquisition targets of PGI Energy, and is an invaluable resource to the board.
Yvonne Hardy as a board member. Yvonne Hardy, former president of Tensas, Inc. She is a graduate of the University of Wisconsin and has completed numerous courses in mortgage banking and real estate law.
For more information visit: WWW.PGIEnergy.us or Email: info@pgienergy.us
SOURCE: PGI Energy, Inc.
PGI Energy, Inc. Media Contact & Investor Relations: Robert Gandy, 713-532-5649
