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Replies to post #11992 on Petro America Corp. (fka PTRZ)
03/19/11 9:10 PM
19. To confuse investors, Hawkins, Brown and others attempted to blur the lines
between the acquired entities, none of which are related to Petro America. For example,
Hawkins changed ASWD’s name to “Petro America Delaware,” because ASWD had previously
traded on the Pink Sheets under the symbol ASWD. Hawkins then changed the ASWD symbol
to PTRZ on June 12, 2009. Petro America’s website might easily lead a reader to conclude that
Petro Delaware is a true successor to Petro America. In fact, while Hawkins is the largest
shareholder of Petro Delaware, (due to $22,500 worth of shares Hawkins purchased in his own
name with Petro investor funds) Petro America is not a holder of record of any Petro Delaware
shares.(9)
20. Michelle Smith is Owen Hawkins’ sister. She works for Hawkins Maintenance
Company, or HMC, out of office space that HMC shares with Petro America. On October 24,
2008, Petro announced on its website (in the “Resent Press Releases” section [sic]) that it has
entered into a negotiation to acquire a construction company, HMC Enterprises, for its
“exploration division.” Hawkins was asked about this press release during his deposition with
the Missouri Securities Commissioner on April 7, 2009: “And who are you negotiating with
individually [to acquire HMC Enterprises]?” Hawkins replied, “Michelle Smith.” Hawkins
did not disclose his relationship with Smith in the press release.
Moreover, there was no exchange of shares that would make the shareholders in Petro
America holders of publicly-traded stock.
9 Hawkins admits that this $22,500 was in addition to the $140,000 Petro purportedly paid to
acquire ASWD.
