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Selga Inc (SLGA) – research report – now Auxillium Energy, Inc (AXLM)

01 Jan Selga Inc (SLGA) – research report – now Auxillium Energy, Inc (AXLM)


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I've had my eye on Selga Inc (SLGA) for several months because of two main names, Thomas E Puzzo and Frank J Hariton.  I made an IHUB forum for the ticker way back in May.

On December 28, 2012, SLGA filed an 8k announcing a 10:1 forward split and authorized share increase bring SLGA back to my attention as a possible future paid promotion stock.

SLGA doesn't have a lot of history yet, but since it is obviously still on track for a future pump&dump it is worth taking the time to organize the history of the SLGA shell to date.


Set-up / Going public

Selga Inc was incorporated in Nevada on November 9, 2009 with Olegs Petusko as its sole officer and director.

Olegs Petusko was a student at Riga Technical College in Latvia, Russia in 1987 and 1988 but did not graduate. 

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Sometime after that he allegedly moved to the United States and on December 13, 2004 he started an LLC called Selga Auto LLC in the state of Georgia with somebody named Agata Magelis as his fellow officer.

A visit to the facebook page of Olegs Petushko shows that he has 38 facebook friends.  One of them is not surprisingly, Agata Magelis.  Another one is a bit of a surprise, David E Price.

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David E Price is an attorney with a long history of being involved in publicly traded shells including many that were hijacked.  He has been in house legal counsel for Charms Investments Ltd. (Clinton Greyling and Leslie Greyling) and has strong ties with Joseph Bartel, Joseph Meuse, Guy Jean-Pierre, and Christopher Davies.

The S-1 for Selga Inc was filed on February 26, 2010 (ahead of RAYS and NSRS).  At the time the S-1 was filed, Olegs Petushko owned all 10,000,000 outstanding shares which he got for $10,000 ($.001/share).

Selga Inc was attempting to go public with a forward looking business plan to sell new and used cars.  As part of the forward looking business plan, Olegs Petushko signed an agreement with his other company, Selga Auto LLC to pay Selga Auto LLC $300 for each car that Selga Auto LLC was able to find for Selga Inc to purchase for resale.  

Helping with the S-1 filing for Selga Inc was Thomas E Puzzo.

Thomas E Puzzo shells often become future paid promotions, but Thomas E Puzzo shells that start out with Russian nominee officers like RAYS and NSRS have become two of his most prolific.

The S-1 filing was approved by the SEC on May 13, 2010.


Early Actions

After going public, SLGA sold a total of 2,430,000 shares to some private seed shareholders for a total of $24,300 ($.01/share).

SLGA would end up using the money raised to buy a total of 6 cars from Petushko's other business (Selga Auto LLC) then ended up selling 4 of those cars for a profit of $1,535 above the purchase cost.


Change of Control

On March 31, 2011, Olegs Petushko sold his 10,000,000 shares (and controlling interest in the SLGA shell) to Warmond Fang for $400,700.

As part of the stock purchase agreement, Olegs Petushko got to keep all assets and liabilities associated with the former business operations.

Warmond Fang became the new CEO, president, and director and elected Frank J Hariton as the new secretary and Jatinder S. Bhogal as a new director.

Warmond Fang has links to Canada and Hong Kong

Frank Hariton who is an attorney out of New York, can be linked to several publicly traded shells including recent pump&dump shells including LBGO, HDSI, HVPA, and MSSD.

Jatinder S. Bhogal also has a history with other publicly traded shells including ALQA, NENE, AOIL, and ONLI with Frank Hariton.

The company was moved to a mail box rental in Ontario at 6021 Yonge St.  What is interesting is that the phone number, 647-456-4002, was used once by another publicly traded shell called Earn-A-Car Inc (EACR) on an 8K filing in October of 2011.  I could find no immediate link between the EACR shell and the SLGA shell.  EACR has a pump&dump type of set-up, but hasn't seen any big promotions yet.


Change in Business Operations

With the change of control came a change in business operations.  On July 11, 2011, SLGA purchased the rights to a small oil & gas field in Poland for a whopping $953.  To complete the transaction, SLGA started a wholly owned subsidiary in Poland called Auxillium Poland.  SLGA could now say that they were in the oil & gas business.

On August 17, 2011, Warmond Fang also started a wholly owned business entity in Alaska called Auxillium Alaska, Inc to use for the purchase of oil & gas claims in the Alaskan region.

On August 29, 2011, Auxillium Alaska, Inc was used to acquire 100% interest in some oil & gas leases located in Alaska from Union Energy (Alaska), LLC which is controlled by James Fitzsimons of White Plains, NY (same location as Frank J. Hariton).  The leases cost Auxillium Alaska Inc $95,295 due within 90 days of the signing of the agreement and $24,000 due to the State of Alaska Department of Natural Resources to make the leases active.

James Fitzsimons had previously done several agreements with Frank J Hariton including agreements with the following publicly traded shells: TAMO, CHSH, and PTCP.

To help meet those financial obligations, SLGA sold 1,000,000 shares for $.15/share in a private placement during the 4th quarter of 2011 raising $150,000.


Forward Split and Current Business State

On December 28, 2012, SLGA filed an 8K announcing a 10:1 forward split and an authorized share increase from 75,000,000 to 750,000,000.

The new share count will look as follows:

Authorized - 750,000,000 shares
Outstanding - 134,300,000 shares
Float - 34,300,000 shares
Warmond Fang - 100,000,000 shares (restricted)
Seed Shareholders - 24,300,000 shares (free trading) - costing $.001/share
Private Placement Investor - 10,000,000 shares (free trading) - costing $.015/share

Despite owning the rights to some cheap oil & gas leases, SLGA is now completely cash poor with no resources available to do anything with the oil & gas properties. I suspect that the properties were only purchased for PR purposes for some future pump&dump activity and no progress will ever be made with them.



As just stated,  I suspect that the properties were only purchased for PR purposes for some future pump&dump activity and no progress will ever be made with them.  No website exists yet for Selga Inc.  I would expect a website to pop up before any kind of full blown promotion starts.  I am not sure if they will change the name of the shell or if they will keep it Selga Inc.  It might also be worth watching to see if they register the Selga Inc shell to trade on the German exchange.

Because of the players involved in this one and the share set up, I am going to add SLGA to our list of tickers to watch for a future paid promotion.




  • alive
    Posted at 12:18h, 25 January Reply

    SLGA name change to Auxillium Energy, Inc

  • nodummy
    Posted at 13:10h, 25 January Reply

    Warmond Fang registered a domain for the company on 12/17/12 (1 year registration)

    website not built yet – parked for later use

    Created on: 17-Dec-12
    Expires on: 17-Dec-13
    Last Updated on: 17-Dec-12

    Warmond Fang
    6021 Yonge St. Suite 1011
    Toronto, Ontario M2M 3W2

    Administrative Contact:
    Fang, Warmond [email protected]
    6021 Yonge St. Suite 1011
    Toronto, Ontario M2M 3W2

  • alive
    Posted at 17:10h, 20 February Reply

    new symbol AXLM 2.21.13

    13:10 2/21/2013 SLGA Selga, Inc. Common AXLM Auxillium Energy, Inc. Common

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