Subsequent Events

3 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

7. Subsequent Events 

On November 10, 2020, the majority of the shareholders and board of directors of the Registrant approved a name change for the Registrant to Petro U.S.A., Inc. to reflect a change in the business to become an operator of truck stops and travel centers in the United States, offering diesel fuel and gasoline, full service and fast food restaurants, maintenance and repair service for trucks, and groceries and convenience goods, among other products and services.  

On November 10, 2020, the majority of the shareholders and board of directors of the Registrant approved a 100,000 to 1 reverse split of all issued common shares.

On November 10, 2020, the majority of the shareholders and board of directors of the Registrant approved a decrease in the number of authorized shares of common stock of the Company, par value $0.0001 per share, from 3,000,000,000 shares to 300,000,000 shares. 

The above actions are not yet effective.

Subsequent to September 30, 2020, 70,271,804 shares of common stock were returned to treasury and cancelled.