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Actually I'd play CFC ovr HMBN. What they bought with HomeBanc was the strategic relationships that HMBN had with hundreds of real estate offices. Its owning the referral networks that ultimately pays off in the mortgage business. Besides, CFC has always been notoriously conservative. They, along with Wells Fargo and a few other big boys will survive this just fine...
CFC chart looks decent too right now after very brief look.
Yep. Sometimes I just wish I wasn't such a high risk player in these pennies.
(That's an excuse for holding on for the would be "dream" because I'm often too chicken to sell)
At first I was going to write-off this conversion offer much like the .06 one because of the inherent risks. But then I forgot that when I first came to that conclusion, we had a gagged TA and were dealing with a very "quiet" company. The developments since Aug. 3rd have made this company ever so slightly more transparent. An ungagged TA alone means I need to go seriously re-evaluate this decision...500% isn't a bad way to cover your butt on the rest of your investment IMO.
Ren
It should take about 3-4 weeks.
Boring? Are you kidding me? Maybe boring with the pps, but PBLS feels like a powder keg since Aug 3...
And I hope that some of that money runs back into a) bonds b) real estate and c) certain pink sheet stocks...
That would be awesome. Either way, .034 is a BIG psychological resistence point on the chart. June 15th just reinforced it. We'll need major momentum to blow through that. I've been holding long enough now that any movement towards the green is a GREAT DAY.
Agreed.
But I will be happy if close above .023/.024 going into Monday...
Don't worry about it. Some folks just are a little gruff in their posting when they first get out of bed...
Puntang...
I live in Jax Beach...you need to come out to Sliders for some oysters and a beer (or two) and meet the family.
As for them sweetening the deal. I wouldn't hold my breath. But then again, this entire company is a different girl than the one I married. Who knows what she'll do next...
Newest installment in "As the Pebble Turns"...
News for 'PBLS' - (Phoenix Associates Raises Offer and Extends the Voting Preferred Stock Participation Program Effective August 10, 2007 Conversion Price on Common Stock Raised to $0.08 and Extension of Deadline to November 30, 2007 for Shareholders to Convert Common Stock Into Voting Preferred Stock; Until Today Conversion Price Was Set at $0.06 and Program Was Set to Expire on October 31, 2007)
MADISONVILLE, LA, Aug 09, 2007 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) announced that effective today the Company is terminating the "Voting Preferred Stock Participation Program" that provided for conversion to voting preferred stock based on the common stock being valued at $0.06 per share, and effective tomorrow, August 10, 2007, all common stock received by the Company for conversion will be valued at $0.08 per share. The deadline for conversion under this program is extended to November 30, 2007, from the prior deadline of October 31, 2007.
It was back on February 15, 2007 that Phoenix first announced that it would be converting 62.5 million of its authorized shares of preferred stock, $10 par value, to "voting" preferred stock, $10 par value, so as to make voting preferred shares available for this program. The new voting preferred stock, which is now transferable and assignable, will pay an annual dividend of 6% which will be paid quarterly. Phoenix will redeem the preferred stock within five years from the date of issuance.
Phoenix shareholders are hereby notified that effective August 10, 2007 all shares of common stock received by the Company under this conversion program will have a value of $0.08 placed on each share submitted for conversion by the extended date of November 30, 2007. Thus, for each 125 shares common stock submitted for conversion the shareholders will receive one share of $10 par value voting preferred stock. Each voting preferred share will have 125 votes. Holders of the voting preferred stock will receive an annual 6% cash dividend (paid quarterly) and the voting preferred shares will be redeemed within five years.
Any shareholder that wishes to participate in this common to preferred stock conversion program please:
1. Send your common stock certificate via "Certified - Return Receipt Requested" mail to:
Phoenix Associates Land Syndicate
P.O. Box 1358
Covington, LA 70434-1358
2. With your certificate send a letter in your own words, stating that you wish to trade these shares of common stock for the Phoenix voting preferred stock conversion offer at $0.08 per share and that you request your voting preferred stock be sent within thirty (30) days.
3. Sign the back of your certificate as the seller and send along with your letter.
4. Phoenix will handle the ensuing paperwork and will send your voting preferred stock within thirty (30) days of the receipt of your letter and your signed certificate.
About Phoenix Associates
Phoenix Associates Land Syndicate is a holding company with assets in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction an d construction related industries.
Forward-Looking Statements
This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
For More Information Contact:
Mike Mulshine
Osprey Partners
(732) 292-0982
osprey57@optonline.net
OT- Roach
Too cold for my blood. Besides Dec. 7th to 17th is my next scheduled trip to India. It will probably get pushed (I usually end up going in Feb/Mar) but that's what's on the docket for now. I really want to go play Santa for the kids. My wife wants to go after the Holidays but I've always wanted to go around Christmas.
OT - Roach
I just noticed we play you guys in Pittsburgh in mid-December...oh boy. Someone pack some parkas...
I just woke up from a nap and had a beer so my brain isn't doing math right now. I'll take your word for it though.
Either way, these boys are pushing the pps hard for the first time since I've held shares...
OT - Roach
Maybe this year my Jags will allow your Steelers to cross the midfield line less than the one time they allowed them to last year...who knows you guys might even score this time! But I doubt it...;)
Don't know, we closed fairly strong...but if Divy checks come on the first of the week along with some other big news, we will blow through .023/.024 resistance and next stop is .03+ IMO
This news was certainly a blind side to me...
And we stay above the 50 day MA...
Yep...hope this isn't one of those rentals where the preview is better than the feature itself.
I know that the "300" (aside from some of the content) was pretty freaking awesome, especially if you know the historical background...
I love Market Makers...
3.6M traded at .0205
60K trade at .02
Where do we sit? .0205. Shocker.
Sigh.
I don't bash well. Not creative enough really. But here goes...
SPZI is bad. Ummm...company is not real...Um...you're dumb if you buy this cause you are competing with me who wants to buy this at sub-penny? ;)
I prefer to think of you as an agnostic. Used to believe and now your just a little cynical. A few miracles and you are back on board...
To quote O Brother..."Come on in, the water's fine..."
Why remove all the stress?
Please share you DD one way or another once you get it. I knew that PA played football from the St. tammany transcripts (Furr claimed he was scared of PA) but PA never alluded to where he played...
No prob. I'll be calling every couple of days to see what's going on with the TA...
Time will tell. It always does.
I've still got a couple 100k shares of SPZI stacked away in some Scottrade account somewhere. My problem is that there are already 3 women in my life...my wife, my daughter and PBLS. Can I make room for a fourth and fall in love with SPZI too?
Chart looks tight though very tight. Wait until volume moves in...I'll double down before that happens. This still has legs even without the big news...of course IMO...
Yep...2M+ in the 15 minutes...
MOSO = My own stupid opinion. That's a Ren original. I pad my ego by continually bringing it up...
With Promuto's ties to the Fed, I hope they got his permission first to use his name in the PR...
Is that your MOSO?
LOL.
I think you need to be more creative...how about Exxon Credit Cards now available for use at all BestAero sites and Jimmy Hoffa is there to pump your gas, so you can fly away from the Waste Management boys from Brooklyn...
Can I stop by and bash this stock a little bit so I can pick up some more shares sub-penny?
Please, Allie? Pretty please? ;)
Yep. Some folks like to leak good news and bad news to their friends...my guess is 2Q2007 numbers...
Just called the T/A
A/S: 2.5 billion
O/S: 1,976,690,273 As of 8-06-07
update 1,976,174,573 As of 8-08-07
update 1,976,174,573 As of 8-09-07
Agreed. Every trade has been at the ask or above for more than an hour...
I wouldn't blame IR for not being tight lipped as much as I would blame 2 individuals at HQ. I'll give you 3 guesses to figure out the primary 1...
Ren
Oh, agree they will pass the USA. Don't agree they will pass China. So we agree then.
And why do they line up to have their cars blessed? Because in that culture you line up to have everything blessed all day long, everything you do.
OT - tedwitt
Maybe. The big difference between China and India is that China is better organized. India is still a confederation of states with extremely corrupt governments. No infrastructure. No work being done on infrastruction. etc etc. IMO.
Agreed. I don't expect anything different to happen than when they released 1Q2007. Except that it keeps them moving forward...
News would be nice. Especially 2Q2007 and the removal of said "yield sign."
What's that...did I hear something...I thought I saw a post about limestone...