EUSTACE, Texas, Aug. 13, 2013 /PRNewswire/ -- Paradigm Oil
and Gas, Inc. (OTC PINK: PDGO) ("Paradigm") today announced that
they have retired an additional 150 million shares of common stock
and returned them to the treasury of the Company's authorized
shares. This along with the 70 million shares the company
cancelled a few weeks ago decreases its issued and outstanding
shares by 220 million. In the past few weeks alone they have
reduced the issued and outstanding shares by close to 50
percent.
We still feel as though we will succeed by bringing our
corporate structure to a more sustained evaluation for our
shareholders. As we stay with our plan of getting our audits
up to date and reevaluating our assets and cleaning up our
corporate structure we will increase our revenues and
earnings. "I understand it hurts the company's market
capital, but it is more important to Paradigm Oil and Gas not to
have a false market valuation, but a real one showing the true
value of its assets, and an accurate picture of the Company's
revenue and earnings. We feel as though our share price is
way too low, and we are still on target to be filing for the
American Stock Exchange by year's end," stated Vince Vellardita President/CEO of Paradigm Oil
and Gas.
The company is planning a share buy back from our outstanding
float with an insider tender offer to purchase the necessary shares
to keep the corporate structure to about 100 million shares issued
and outstanding in our treasury. We are firm believers in our
business strategies, we will continue to follow our business plan
and do everything to increase shareholder value.
For a quick update the company's latest acquisition, Cam
Trucking Oil Well Services has already landed several contracts
with our relationships in the oil and gas industry and will be
booked solid by week's end.
About Paradigm Oil and Gas, Inc.
Paradigm Oil and Gas Inc. (OTC Pink: PDGO) is a dynamic company in
business to provide service work to the oil and gas marketplace and
to produce oil. Paradigm's goal is to identify oil producing wells
and use modern technology to make them profitable based on modern
commodity pricing. Paradigm Oil & Gas has several proven oil
production leases and options for many more, holds the rights to
the Centurion Technology, and owns rigs that target shallow
stripper wells. For more information about Paradigm Oil and Gas,
visit www.paradigmpdgo.com. If you wish to be added to
Paradigm's mailing list, please email: vince@paradigmpdgo.com
Forward Looking Statements
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks.
Paradigm Oil and Gas, Inc., is a company with limited experience in
the oil and gas industry. At the time of this release Paradigm Oil
and Gas, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the
Company's shares to raise the necessary operating capital. Based
upon industry standards Paradigm would be considered highly
speculative and lacks any competitive advantage over its
competition. Additional risks you should consider are that this
list is limited and additional risks not mentioned may apply:
failure to meet Paradigm's financial and contractual obligations,
Paradigm's managerial errors made based upon the Company's limited
experience and knowledge of the industry, commodity risk, acts of
God and regulatory risk. You should consider these factors in
evaluating the forward-looking statements included herein, and not
place undue reliance on such statements.
Contact:
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
vince@paradigmpdgo.com
1-727-595-8101
SOURCE Paradigm Oil and Gas, Inc.