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Standard General owns 21.72% of Penn Octane
By Lisa Kerner
Charlotte, N.C., May 1 - Investors led by Standard General LP purchased 185,500 shares of Penn Octane Corp. between March 31 and April 30 for a total of $323,872.32, or an average price per share of $1.74.
The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.
The investors beneficially own 3,346,918 shares, or 21.72%, of the Palm Desert, Calif., fuel products company.
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