TSAS - If you don't buy today you wouldn't qualify for the 3-1 stock split. If you fill the gaps, this is a nice play.
We, PGI Energy, Inc., formerly known as Tensas, Inc. (the “Company”, “we”, “us” or “our”), are providing the enclosed information statement to you in order to notify you of and provide 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:
1.
the adoption of amended and restated articles of incorporation and bylaws, which among other things, include the following changes:
(a)
an increase in the number of shares of common stock authorized for issuance from 255,020,000 to 1,000,000,000;
(b)
a decrease in the par value per share of common stock from $0.001 per share to $0.01 per share;
(c)
the authorization of 20,000,000 shares of undesignated preferred stock class c;
(d)
changing our name to PGI Energy, Inc.
(e)
change from a development stage company to an operating oil and gas company.
2.
affecting a three for one stock split of our outstanding common stock by paying a dividend of two shares of common stock per share of common stock outstanding. The dividend shares will be paid on February 20, 2011 to record shareholders directly by our transfer agent Pacific Stock Transfer.
The foregoing actions were approved by written consent in lieu of a meeting of the Company’s stockholders holding more than a majority the voting power necessary to approve such actions and by our Board of Directors (the “Board of Directors”) on February 02, 2011.
