SOURCE: Petroleum Consolidators

October 22, 2007 16:10 ET

Petroleum Consolidators of America Pursues Pink Sheets Category Change

WEST PALM BEACH, FL--(Marketwire - October 22, 2007) - Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI), a gasoline station and facilities consolidator, announced that it has initiated the appropriate steps required to resolve the Company's current Pink Sheets category listing.

At present, the firm's stock is unavailable to purchase through online brokers unless a "call in" is performed by the security purchaser.

Petroleum Consolidators of America President and CEO David Cohen said, "We are currently addressing all of the compliance issues that the new categorization process has forced on micro-cap companies that trade on the Pink Sheets exchange."

Cohen continued, "We will make every effort to ensure that all necessary qualifications are met to resolve any and all issues that might create a public concern in the markets or steer investors away from the company as it trades on its current exchange."

The Pink Sheets recently introduced a categorization system designed to increase the amount of information available on all companies traded on its exchange. While Petroleum Consolidators of America management believes that the Company currently meets or exceeds all necessary qualifications for a "current information" category listing with the Pink Sheets exchange, category revision requires proven documentation and approval from the Pink Sheets, which currently requires review time from the exchange.

"As we continue to implement our comprehensive business plan, we are proud of our successes to date and are actively pursuing revenue improvements and profitability along a long-term growth trajectory," stated Cohen.

For more information, visit: www.petroleumconsolidators.com. For information on the Pink Sheets exchange and its current categorization program, visit: www.pinksheets.com.

About Petroleum Consolidators of America, Inc.

Petroleum Consolidators of America, Inc. (PINKSHEETS: PCAI) is implementing a targeted consolidation strategy to create a portfolio of retail gasoline stations and convenience store facilities nationwide that will benefit from substantial operating efficiencies and rapid market acceptance as a result of acquisition.

The Company expects to acquire profitable gasoline businesses that include convenience stores and other branded offerings, including ancillary products and services, such as grocery and car care products, tobacco, beer, soft drinks, self-service fast food, publications, money orders and other services, and will implement a number of strategic directives to substantially improve revenue and net income at each facility under the Petroleum Consolidators umbrella.

For more information, visit www.petroleumconsolidators.com or www.dpmartin.com/pcai.

Safe Harbor

This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. The words "may," "could," "should," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar words are intended to identify forward-looking statements. These forward-looking statements are based on the Company's current plans and expectations and involve a number of risks and uncertainties that could cause actual results and events to vary materially from the results and events anticipated or implied by such forward-looking statements. Any number of factors could affect actual results and events, including, without limitation: the ability of the Company to take advantage of expected synergies in connection with acquisitions; the actual operating results of stores acquired; the ability of the Company to integrate acquisitions into its operations; fluctuations in domestic and global petroleum and gasoline markets; changes in the competitive landscape of the convenience store industry, including gasoline stations and other non-traditional retailers located in the Company's markets; the effect of national and regional economic conditions on the convenience store industry and the markets we serve; the effect of regional weather conditions on customer traffic; financial difficulties of suppliers, including our principal suppliers of gas and merchandise, and their ability to continue to supply our stores; environmental risks associated with selling petroleum products; governmental regulations, including those regulating the environment; and acts of war or terrorist activity. Results actually achieved may differ materially from expected results included in these statements. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, the Company cautions that the risk factors listed in this paragraph are not exhaustive.

Contact Information

  • Contact:
    David Cohen
    Petroleum Consolidators of America
    (561) 514-0198
    Email Contact

    D.P. Martin & Associates
    Investor Relations for Petroleum Consolidators
    Email Contact
    (561) 514-0194