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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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S C H E D U L E 13D
Under the Securities Exchange Act of 1934
(Amendment No. 21)*
PETROL INDUSTRIES, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.10 PER SHARE
(Title of Class of Securities)
716 502 10 9
(CUSIP Number)
Mr. Joseph M. Rodano Copy to: David Lerner
c/o Petrol Industries, Inc. Morrison Cohen Singer & Weinstein
202 N. Thomas, Suite 4 750 Lexington Avenue
Shreveport, LA 71107-6539 New York, New York 10022
Telephone: (318) 424-6396 Telephone: (212) 735-8609
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(Name, Address and Telephone Number of Persons
Authorized to Receive Notices and Communications)
August 13, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
space [ ].
Check the following space if a fee is being paid with the statement
[ ]. (A fee is not required only if the reporting person; (1) has a
previous statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
(Continued on following page(s))
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CUSIP No. 716 502 10 9
13D
1. Name of Reporting Persons
S.S. or I.R.S. Identification No. of Above Person
JOSEPH M. RODANO
2. Check the Appropriate Box if a Member of a Group* (a) [ ]
(b) [ ]
3. SEC Use Only
4. Source of Funds:* PF
5. Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Item 2(d) or 2(e) [ ]
6. Citizenship or Place of Organization
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. Sole Voting Power: 452,325
8. Shared Voting Power:
9. Sole Dispositive Power: 452,325
10. Shared Dispositive Power
11. Aggregate Amount Beneficially Owned By Each Reporting Person:
452,325
12. Check Box if the Aggregate Amount in Row (11)
excludes Certain Shares* [ ]
13. Percent of Class Represented by Amount in Row (11)
28%
14. Type of Reporting Person*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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ITEM 1. SECURITY AND ISSUER
This statement relates to the Common Stock, $.10 par value per
share (the "Shares"), of Petrol Industries, Inc., a Nevada corporation
("Petrol"), the principal executive offices of which are located at 202 N.
Thomas, Suite 4, Shreveport, Louisiana 71107-6539.
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed on behalf of Joseph M. Rodano
("Rodano"), a United States Citizen, whose current mailing address is c/o
Petrol Industries, Inc., 202 N. Thomas, Suite 4, Shreveport, LA 71107-6539.
Mr. Rodano is currently employed as the President and Treasurer of Petrol, as
well as a member of its Board of Directors. The address of Petrol's principal
executive office can be found in ITEM 1 above.
During the last five years, Mr. Rodano has not been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors),
nor has he been a party to a civil proceeding of a judicial or administrative
body of a competent jurisdiction and as a result of such a proceeding was or
is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, Federal or State
securities laws or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
All of the Shares purchased by Mr. Rodano on March 13th of this
year have been purchased with his personal funds.
ITEM 4. PURPOSE OF TRANSACTION
On August 13, 1997, Mr. Rodano purchased 5,000 Shares in an open
market transaction. Mr. Rodano invested in the foregoing Shares because
he believes that the market reacted excessively to Petrol's disclosure in its
1993 Annual Report on Form 10-KSB of its deteriorating financial condition
and that such securities accordingly are undervalued. As of the filing date
of this statement, Mr. Rodano has no present plans or proposals which relate
to, or which would result in, any changes specified in clauses (a) through
(j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Mr. Rodano owns an aggregate of 452,325 Shares, comprising
approximately 28% of the outstanding Shares. The foregoing calculation is
based upon Petrol's Annual Report on Form 10-KSB for the year ended December
31, 1996, which states that as of March 21, 1997, 1,597,196 Shares were
outstanding.
Mr. Rodano retains the sole power to vote and dispose of the
452,325 Shares described above.
Mr. Rodano purchased 5,000 Shares on August 13, 1997,
over-the-counter in an open market transaction at the asked price of $.28 per
share. Except as set forth in ITEM 5, Mr. Rodano has not purchased or sold
any Shares since he filed an Amendment to Schedule 13D with the Commission on
March 19, 1997.
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ITEM 6. CONTRACT, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
There are no contracts, arrangements, understandings or
relationships (legal or otherwise) between Mr. Rodano and any other
person with respect to any securities of Petrol.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not applicable.
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SIGNATURE
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After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this
Statement is true, complete and correct.
Joseph M. Rodano
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JOSEPH M. RODANO
Date: August 15, 1997
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
