PetroTech completes Form 10, audits and reduces debt

PetroTech Oil and Gas Inc.

PetroTech Oil and Gas Inc. (OTC: PTOG) has completed its Form 10 application, along with its audits, and is ready for filing with the SEC. PetroTech has also secured a major reduction on past debt off the company books of $1.6 million, from Duchess Capital to $200,000. This will be reflected on the upcoming fourth-quarter year-end financials.

"We are very pleased to finally have our filings done and ready, along with our audits," said Eddie Schilb, president of PetroTech. "We are also very excited that we have been able to reduce our debt from Duchess Capital down from $1,600,000 to $200,000. This will change our financials considerably, and bring a major improvement to shareholder value.”

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