EUSTACE, Texas, June 26, 2013 --Paradigm Oil and Gas, Inc. (OTC PINK: PDGO) (“Paradigm”) today announced that the Company has plans to retire some of its common stock to the Treasury. The decision will allow Paradigm to complete its audits, become a fully reporting company and file to be reinstated with the OTCBB Exchange.
“We have been working alongside our auditors, preparing to move the Company’s securities to start trading on a larger exchange,” said Vince Vellardita, Chairman and CEO of Paradigm Oil & Gas, Inc. “During this process; we found that there were some reserves of common stock that were held for convertible notes, which have recently been paid off. By retiring these reserve shares, it will help to decrease any dilution perception and restore shareholder value.”
Paradigm plans to start trading on the OTCBB Exchange within the next 60 days. After securing its next targeted acquisitions, the Company forecasts a substantial increase in revenue. This will allow Paradigm to move towards its goal of trading on the American Stock Exchange.
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: firstname.lastname@example.org
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.
Vince Vellardita, President
Paradigm Oil and Gas, Inc.
SOURCE: Paradigm Oil and Gas, Inc.