Aztec Oil & Gas Inc. ("Aztec") has amended its Articles of Incorporation and effectuated a one-share-for-three existing shares reverse split of its stock, the company announced today.
Per the FINRA confirmation, the 1-3 Reverse Split results in the Pre-Split total shares outstanding ("TSO") of 38,509,324 being reduced to a Post Split TSO of 12,836,442; and a new CUSIP number (#055000202) for the shares.
Per the FINRA confirmation notice, the Daily List Date for the share action is Aug. 9, 2012, and the Market Effective Date is Aug. 10. It is noted that a "D" will be placed on the Aztec ticker symbol, AZGS, for 20 business days to alert the public of the split. The corporate actions, inclusive of re-election of the existing board of directors, were taken via majority consent of shareholders and all appropriate notifications were filed and transmitted.
The instructional information for shareholders is filed, and available, via the OTC Pink Sheets. It is not required that current shareholders exchange their stock certificates; however, should they wish to do so, it may be done through the shareholder's broker dealer.
"As can be seen from our recent financial filings, Aztec continues to quarterly increase its assets, equity, sales and net oil and gas properties, plus decrease its total liabilities," Waylan Johnson, president of Aztec, said. "As more and more people, and broker dealers, are beginning to acknowledge Aztec's growth and potential, we felt reversing our shares outstanding was an appropriate and beneficial move."
Aztec is an oil and gas exploration, development and production company focusing on Texas, plus other areas of the U.S. Its interests are diversified between development drilling and exploration drilling; however, when it offers drilling/production partnerships, Aztec focuses primarily on Texas shallow, lower risk, development and step out oil wells.
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