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They do care about the share price, but they know if they build this company right, the share price will take care of itself. If you build a solid performer, it will have value and it will be reflected in the PPS. I could firmly argue that if they wanted to increase the share price, they easily could, but it would be manufcatured and not be true value, it would be inflated based upon the information they wanted to release. I would much rather have true value and for it to be a little reserved than have a management team that only cared about share price and released PR after PR to inflate the PPS without any true value.
While in the very short term we would be happy, in the long term the stock would not hold its value and lose even more investor confidence. So be sure what you wish for. I am looking for PBLS to be around for decades. Now my investment with them will change of course as they build. Of course all of us right now have an exit strategy, in which we cash out a portion of our shares and then let the rest ride for a little longer.
REN
I misstated my comment and directed it to you in mistake. I apologize and we will all get through this together. I just dont like how some people get PO and then start having diahreha of the mouth. We all invested in here with the same information, however our expectations may be different.
I was going to say that I was lucky to be green, but I dont think luck plays any part. I invested wisely and except for my by pre 6/15/07 I am sitting pretty, that buy ate into my greeness, but it will be back by the end of the year. People should not get scarred. Its not like we are finding out that the pit is not a pit and the jet is not a jet. We all know that these entities have the potential to make large revenues and when run right have large profits. I firmly believe in PBLS and the management otherwise I would not be here. Sure I would like full disclosure, but at this time I trust PBLS to do the right thing and they are becoming more transparent at their pace. They have a plan and are sticking to it.
If they kept changing their plan, then that would scare me. But they have a solid plan.
Good day.
That is what I added, I have been in here sub penny before the end of last year, So make sure you get your facts straight. I dont have 1 million shares. I have over 10 Million personally and then the people in my office have over 50 million +.
So dont down play my significance based upon my post that said I added 1M shares before the 6/15/07 announcement.
good day
Well, just for your liking before the fabled 6/14/07, I purchased 1 million shares at .0336, so whoever you think I am, I am not. I just have access to PBLS that most do not and am quite confident that what they have told me will come to fruition.
As far as the numbers I was privy to before they were announced, they were in fact almost identical. I has the numbers up thru the 3rd quarteer of 2006 and they were pretty much in line with what was presented for the end of year 2006, less the share structure.
Those of you that questioned the other income, that was on the financials presented to me for review, so the thought of income derived from the sale of shares in the 4th quarter is not possible.
So while I agree with most about PBLS stating that they would be going in compliance with the SEC with full audited statements in 2006, and they have not made good on that, but I still have not lost my belief in Ron or Paul.
I didnt invest in here to make a quick buck, I saw the vision and repect Paul and Ron for the business men they are. I have full faith in them and anytime I have an extra buck or two I throw it right back into PBLS. I let my money speak for myself.
I just dont know how you can call them scam artists, they did not lore you into an investment that did not exist. They did not sell you on an idea or belief of something that may happen. They sold you on a business they were building. They were acquiring businesses that they believed were undervalued and needed capital to get to the next level.
When they make a judgement they stick by it, they analyze it and move on it. No one is ever 100% right, but so long as they act in good faith I have no problem with that. They have told us what they would be trying to do. Yes some of their language has made statements that have not occured yet ie AUDITED FINANCIALS,but guess what they have no legal requirement to provide that information.
I believe that when they said it, they had every intention to do it. But things changed in the manner they were conducting business and did not want to become fully transparent yet. They were not ready. So I believe in them, I know they know what they are doing and leave it like that. You either believe in them and stay in or get the hell out. But your bitching and complaining will not change the way they do business. So long as they stick on the plan to be compliant with Pink Sheets status, I can live with that, because we know what is coming ahead. I would rather build something like this and wait. Rather than be in a company where I have to get in at the right time and then get out before it crashes.
Real Company = Real Assets = Real Results = have patience. You think 2 years to build a billion dollar business is enough time. They have shown progress but they dont need to provide us with a daily ledger of what they did today. I would be happy with quarterly reports just like most companies provide, so long as they keep giving up progress and slowly give us more transparency.
Those who wait will be rewarded. Good day to all and just relax. Life is a marathon not a sprint.
Enjoy
my name is Stephen
See those are type of comments that make you lose all credibility REN. How can you call them SCAM artists, on what grounds can you prove that. What have they told us that is a scam. Have they done anything fraudelent. Telling us that they are going to be full reporting and not is NOT a SCAM. A scam is purporting to do a transaction and not ie purchasing a compnay and not going so. There are well withing their business acumen to be running the company this way, for god sakes they are a Pink Sheet company. If you think this is a scam then 99% of pink sheets is a scam. You must be joking. Just because they dont give us evey iotta of information we ask for does not make this a scam. We invested in this compnay as a pinkie, knowing full well that we are not guaranteed much information. So dont make them the scape goat, because they are not scam artists, they are running their business the way they see fit. If you dont agree with it, then sell and get the hell out, but dont call them a scam artist, now that you have published your opinion, you open yourself up to possible libel and slander. Be careful how you tread. You know these guys have the right to do what they must to protect what they have built.
Ren, choose your words better this is not what you claim. You have no creditiblity whatsoever.
Good day.
No I dont believe I said anything about John Burge Holding up his end of the agreement. I said that I would like to know what the issues are I am sure one party will be arguing that the other party did not fulfill the terms of the agreement. Of course we dont know what the orignial agreement was. But in due time that will be part of the court case and we will find out. So through litigation we as shareholders will get additional knowledge based upon what documents are filed in support of the lawsuit and those that are filed as a defense.
So I did not provide any opinion and anyone culpability. Just that in time we will see what the dispute is about.
Good Day
Well I agree with you that they said they would be full reporting, but I have to believe that they were not lying to us when they made that statement. Certain transactions had to take place for them to be fully reporting. What is fully reporting. We all belived that fully reporting would mean audited statements that would be submitted to the SEC. But what is full reporting to a pinkie.
There is so much room here for interpretation and I could argue both sides and feel quite comfortable. The bottom line is we still need more information from the company and they have yet to provide everything we are looking for. I hope that changes on August 15.
Well i could go on forever, but I would be repeating my self. I am a fully supporter of PBLS and firmly believe that when it is all said and done we will be happy. I am still green.
Good day to all.
Probably suits over the acquistion. Nice thing about lawsuits is it will give even more clearity to PBLS. No matter what the outcome, but as you know with business their are always disputes and most dont get resolved without legal action. I could guess on what it is about, and if I did it would have to lead to the acquisition agreement and how the entities were purchased and notes given for the purchase. But something more probably happened here and with law suits you will have the plaintiffs side and then of course the defense side, with counter claims and more claims of people not living up to their obligations, then the court will determine who had to do what, who did what and in the end who failed to do what they were suppose to.
Cant wait to see all of this.
PNEW
When you were up 100k, why didnt you conver your position once the price started coming back down?
That is what the parties I am involved in with did. They purchase sub-penny before katrina, then when it hit 10 cent they sold, realized their gain and then reloaded back up when the price was coming back down.
Now they are singing all the way to the bank and they increased their position in PBLS 10 fold or more.
I am sorry that you did not take advantage of the PBLS rise and you are now in a down position, but you had every opportunity to do what my fellow investors did and maximize their return during the rise. Which you clearly admit you were part of and had the opportunity.
Well we are all in this together. There are some things working right now and as time goes on PBLS will not fail us.
I agree with you that they have not done exactly what was said but their intent all along has been to become fully reporting and go to a large exchange and I believe that they will come through on this when its all said and done.
I dont think they evey said something that they did not fully believe and if they had to do it over again they probably would have issued the press releases in a different manner.
I wish you the best and we will ALL be happy in the end. The business are there and Paul and Ron know how to make a company successful.
Good luck
Even if we were full reporting, the analyst and others would pick apart the information and make conclusions based upon their intention. Those that want to drive the PPS down will always have a negative view on any action while those that want the price to go up with view and spin the positives. But in reality we all need to view the information for what it is, numbers can be spun any way you like, you can twist them to make sure argument hold water, but that is all it is, is a view. YOu can make data support anyview depending on how you spin it.
So I am exhausted reading all this negativity. It still will not solve anything and no one on this board has any power to alter what the PPS is going to do in the future. The people that control that are management and the market makes. Then you put your money up depending on which view you support. Let you money talk your mind and stop all the belly aching.
If you are in here for 2 years and are at higher prices then when did you buy in. If you were over 2 years in then you should be in sub-penny and not sweating, like me. Unless you got int after the Kartina spike which was in the end of 2005, when the stock priced spiked. Then and only then would you be in a such higher prices. Those that were here over 2 years were able to make a killing, but buying sub penny, cashing out above 10 cents and then rode it back down to sub-penny.
As I have said before what were your expectations when you bought in. Was it to double, triple, quad etc your money. I have tripled but I am not going anywhere. It takes vision and foresight to make this investments and then have trust in the company. Do you? or are you just holding on because of what you have invested? If you could break even right now would you bail out? Because once you are even, you know very well that the company is just going to keep growing and your return on investment will be even larger. Plus you have the ability to convert to the preferred plan and lock in the 6 cent stock price, which I am sure would give you some profit.
1.75 Billion Share count. Everyone can make an argument that this was not expected, but you have to realize that the company has a obligation to report shares that maybe convertible later on and that the company has the shares to cover the conversion possibility. This is why the share count was equal to the authorized shares. This stock was already going to be shorted and this news just made it easier for the shorts to drive the price down.
So whatever your bitching is about, you are either in or out. Time will prove us right or wrong. Do we all want the same result here?
Well looks like the Shorties are out again today, looking for those little trades to drive the price down, so that they can cover. Does anyone know what the new rules are that go into effect in the next month regarding the naked shorts. I believe the time to cover has been reduced.
Please help
FMI81
send my an email at dvgi2@tampabay.rr.com and I will share my views with you regarding your comments. There is much more their and things on their face are meant to look a certain way for different reasons.
--Jambamboo
To all of those that are hear, I want you to keep in mind that PBLS has done a lot of acquiring in the last 12 months and as you know when you purchase new companies it takes time to get them fully intergrated into the existing corporate structure and time to build up the existing business to maxmize the efficiencies that are required to maximize the revenues and profits of both the existing company and the purchased company. I never purchased this stock thinking I was going to get in triple my money and get out. I could do that right now and be happy. But I bought in to the idea that Paul and Ron were building something special here. I may not have the full insight into the daily grind of their actions, but I have full faith in both of them and their abilities to build a successful multi-million dollar enterprise. If you all hold onto that belief I believe that you will all be happy when it finally gets to show the results of their hard work and dedication.
This was never a get rich quick scheme, but rather a true investment in two men who I believe are fully capable of doing the job and doing it well. Ron is the man who finds the undervalued companies and then Paul gets the deal put togehter in a way to maximize the potential of the company purchased, while expanding the other business associated with PBLS. So let the market makers play with the stock, short it now and then, drive us crazy, but hold onto the vision that in the end we will all be happy that we keep a cool head and let the market do what it does and let Paul and Ron do what they do. If you believe in them then you should not worry. If you dont believe in them, then you are in trouble, you will have many sleepless nights, cause watching this and having little control and a lack of information could drive you crazy.
So all the best and keep up what you are doing, but be mindfull and dont sweat the little day to day things because in the end we are in capable hands that will deliver us a $1+ stock in the next few years.
Good Day
You may never figure this out as this pinkie is a real company that is going through their acquision phase, where a regular pinkie would be trying to raise capital to hopefully take their idea to market, so they get you to play based upon their PR's and what they hope they are going to do, rather that what they are actually doing. PBLS is telling you what they are doing when they do it, now they just have to make the assets perform and make the bottom line grow.
So hold on this one is going to be fun, but I enjoy reading all of the comments here, but I dont believe that people really know what they go themselves into. They try to explain every detail and analyze every possibility that could happen here, of which they have absolutely NO control, you either believe and sit back and watch or you just keep bitching and moaning about what PBLS is not doing. Never mind that 90% of the people here could not run a company or do what Ron and Paul are doing. Starting with nothing and building a company its a great thing to watch, and in the end cash in on.
Someone needs to get a hold of the charging document (the complaint) to get the facts before you can analyze this issue. I gurantee you that their is a dispute regarding the debt owed. Based upon my knowledge of PBLS payment history with their creditors and references, they are know to pay their debts and obligations on time.
I would lean towards the fact that PBLS contests the validity of the debt owed regarding the promissory note. We really need to get a copy of the note, which should be attached to the complaint. Then we need to see PBLS answer to the complaint and the affirmative defensed they utilize to defend the lawsuit.
Then we can make a proper analysis of this legal situation. Remember law suits are normally not filed until after the parties have conducted their due diligence, asked to resolve the dipute and then the parties reach an impass, which then asks our court system to interced to help rectify the situation.
I will be watching closely. But if anyone has access to the court file, we need to see the documents, so everyone needs to relax and await proper documenation, instead of jumping to conclusions, making suggestions and offering WHAT IF SCENARIOS
Good luck, I await the next 30 days.
How did you search in Texas?
I think all he is trying to say is that you may not be on the internet, but in order to form a legal entity in any state you must file your INC or LLC paper work with the state your are registering to do business in.
So while you may not have an internet presence you must register your company with the Secretary of State for the state you do business in.
But I would bet 99.9% of my shares that PBLS purchased the company, they do not make up acquisitions, they may however mis spell.
But oh well, stay green and keep moving.
OT: Mike I dont have a private email, but yes your tip is good, but I was also told that it is a 6-9 month play, as they are doing something with a NANO firm, that will be big.
To hose of you that do not know about business aquisitions, they can take months to finalize a contract and then several more months to actually effectuate the closing of the transaction. For instance the condo deal was agreed to before July but did not close until November.
Once you have an agreement or intent to purchase you go throug a period of due dilegence to confirm what you are buying and explore the structuring of the deal which may take several months, espectially when you have attorneys and accoutants involved.
I am sure you have all see mergers announeced but then the effective date being several months down the line, this was effects the stock price the most. So give our Management team a reasonable time to get these done, plus on the condo deal they closed and then did not announce for a few months to make sure everything was proper and everything was running effectively.
So when you hear the rumor we may not see the result for 6 months or more.
Be Patient and PBLS will make you happy, or be agressive and play the movements.
Good luck
to DCBASS
email me you at dvgi2@tampabay.rr.com so that I may reply to you about your question.
Good luck to all
check out american bulls for you charting and see where proper techniques can lead to substantial windfalls.
www.americanbulls.com
So what you think after 5 years they are going to shut their doors down, most companies have a short term and long term goals. As I said before what were your goals and expectation coming in. Mine were to watch a company grow and prosper from bankruptcy to a billion dollar a year company, guess what they are on their way, I like the way they think and I like the way they are going about it. I am glad they dont PR the hell out of us about every little thing they do. So sit back enjoy the ride or get out. You invested in a developing company that is going to have its ups and downs. They want to prosper and be profitable and drive the stock price up but not every decision they make will be the correct one, hopefully the righ decisions outweigh the wrong ones.
Good day
Just sell your shares then and get out, If that is what you believe then WHY are you here.
I bet Paul probably does have the audited financials, he just has not made them public, he is not legally required to do so.
You cannot prove that they sold 1 billion shares. Yeah the share count says 1 billion were outstanding, but you dont know how they became outstanding. There are way too many questions out there that you dont know the answers to.
Paul lying is your opinion, not fact.
Series III are valued at $10.00
I think the word LIE is too strong of a word. Some shareholders view things as lies, while others do not. Some matters are subject to interpretation. I guess you go the the matter of SOON and very SOON, those are not lies but interpretive matters. Soon to some maybe a week while others maybe a month or two.
I dont believe they have lied to us, I just believe that some shareholders expected more from management or actually wanted more from management.
Keep in mind these parties know what they are doing, they have a plan, they are not flying by the seat of their pants. You have to trust that their actions are in the best interest of the company. Paul and RB are in the same boat as us, they want to maximize shareholder value and sustain it.
If they wanted they could be a PR machine and move the stock price as they see fit by the release of information. I prefer the manner in which they are releasing information. Some of us would love daily reports of what is going on, but this is not efficient manner of doing business. our management team will be successful and I trust them to release the information as needed even though we would like to see more of it, but I believe in them and this investment. This was never a pump and get out for me. I am one of the luck ones and am in Sub-penny but I do not day trade I just truly believe in the company and what they are doing and I fully support them by NOT selling my shares on the runs and dumping. I would rather see small sustained growth rather than giant leaps in share price that are inflated and do not reflect the true value of the company.
This will payoff in the long run, so it all depends on what your objective were when you got in and what your expectations are. I came in and told all of my friends and family about it, but I warned them that they had to commit to a minimum of 1 year and if they could not stomach the ups and downs of penny stocks then not to make the play.
When some of my friends complain about their 100K purchase all I do is show them how my stock account went from 6 figures all the way down to below 50k and I did not panick. This is a real company with real assets
Please remembert that management has told us that restricted shares were also issued for the Best Jet Acquisition and others. So while the Condo deal is the only one where we know exactly what the share count is, the other deals utilize the same share acquisition practices.
Like I said once they give us a more detailed disclosure of the Preferred it should all make sense.
I am looking forward to the next few years.
No pump and dump day trading here, this is a keeper for me, to watch the company grow and prosper.
Ill tell you that Ron and Paul firmly believe that they can get this company to $10, that is their 5 year goal as it will save them million of dollars in acquisition cost and make them enough money to leave a legacy for their future generations.
I just want a little piece of it and I am more than patient.
So for those of you who play the up and down game good for you, I will just hold steady and remain confident. Rome was not built in a day and Phoenix will be built properly and not be a fly by night operation.
Good luck and good night to yall.
Please remind yourself of the language from the condo purchase, the preferred shares which I believe are the type III used to acquire the condos amounted to 400,000 preferred shares. They are not redeemable at anytime, in fact the holder cannot put the shares to PBLS until 5 years have elapsed, however they are allowed to convert 15% or 60,000 after year one. So the preferred stocks redemption time period will be one of the matters that will have to be disclosed to us at a later time.
I also did some accounting review and I believe that PBLS has to account for the possiblility of conversion and that is why the outstanding shares equal the authorized shares. At the present time they have to disclose that even though the stocks are not actually issued an trading. So the 400,000 preferred shares or $4,000,000 , if they used a conversion price of $.02 would equal 200 million shares. So imagine if for each acquisition this was the case, then our actual share count that is issued and trading would be siginificantly lower than 1.75billion, I would be willing to bet that it is more in the 800 million share line. The key will be the disclosures that are provided to us that break down the preferred shares, what they were issed for, and when they are able to be put or converted, but by all accounting principals the corporation MUST account for the possibility of conversion. Otherwise if they had 1.75billion shares issued and trading right now, when the time came for the shared to be converted the corporation would have to issued more shares, which there would not be any authorized.
So the key ISSUE will be what the financial disclosures and footnotes disclose to us.
We are going to be fine. Just let their accountant handle the proper disclousre
I dont know why they did not disclose this on June 4th but I guarantee you that they is a reason for this, we may not know or ever find out but RB is in this for the long haul and when its all said and done he will be a very wealthy man and those that believe in him will prospe as well.
I fully believe that the share count was due to the accounting for the possibility of conversion, that may or maynot have to take place, but must be accounted for, at least the possibility, this is normal accounting standard practice. I hope that their would be an accountant, CPA that could further explain the requirement. But remember that this is a PINKIE so management may do what they will, but the explanation must work.
Good luck, im excited. and I bought another million at .034, so you know I am long just as I have always claimed.
Just remembert that the Best Jest Transaction was not closed until towards the end of 2006, so the Financials would most likely not be included in the numbers we received on 6/15/2006.
Once they fully report the 1st quarter of 2007 and beyond, then things should be more transparent. So hold on there, PBLS is the real deal and we will see the PPS close above 3.5 before years end.
Cant wait to see this through.
Good luck to all.
Just be careful with the WASH RULE, when you sell a stock at a capital loss you cannot immediately purchase back the same position to realize the loss you must wait at least 30 days to retake your position.
Check with you tax advisor on utilizing this option.
Good luck
NO, thats not how I interpretted the purchase agreement. But War Eagle you got my mind thinking, I believe that if I am being fair and analyzing the contract on its face then your interpretation may hold true as well. As I read the agreement I believe that you could interpret it the way you are and it would make sense.
I dont mind admitting when I interpreted a clause wrong, but the statement would lead to a nice law suit. The option is not clearly written and now that you have made me aware of the recorded agreement, I can now see how the .03 cent minimum would be applicable.
Your analysis is another possible interpretation and this accounts for some of the confusion we have as shareholders. That is why it needs to be explained to us, because if this is the case then I believe it is one of the reason PBLS has to recognize the possibliliy that the outstanding common shares was much higher than expected, they may have to account for the possibility of conversion to fully disclose their possible share structure.
So I may have be headstrong in my interpretation but I think your version or application of the contract language it plausible.
Well this will be fun following this. I hope your interpretation is the correct one as it makes much more sense and would allow for the holder of the note to exercise more options.
Thanks for your comments.
The appraised value was over the purchase price. Remember the property has 2 parcels that can and will be devloped by Phoenix, you could easily see the fully developed complex gross (if they sold all the units after build out + $30 million +. Basically once the purchase units have been renovated their market price will more than cover the current purchase price, then the boat slips and undeveloped parcels would be all PROFIT.
Great investment property. Keep in mind these are my own opinions and analysis of the properties potential, based upon current market conditions.
Ok you are trying to make something out of nothing. The shares issued in the condo purchase were authorized preferred shares of PBLS. They did not take common shares and convert them to preferred. That deal is for current common share holder who have the option to convert their 167 common share for 1 voting preferred stock.
When PBLS purchased the condo they used their previously authorized preffered shares and issued them to the seller. In the condo deal he was issued 400,000 common shares with a value of $10 per share or $4,000,000 the balance due on the purchase. He then has two options that he can exercise to get the balance of the purchase price, option 1 hold them for 5 years and then can redeem them by putting them to PBLS, at that time the holder would receive $4,000,000 in cash from PBLS. He was also offered another option, as he wanted to spread his capital gain across as many years as possible. The language is clear, he can convert 15% or 60,000 share after he has held them for 1 year, the price per share would be the price posted on the stock exchange as of the post mark date. So he can convert his 60,000 preferred share for 60,000 common stock shares. This is the holder choosing. If he converts and the price is below $10 then PBLS is at a big windfall as they are off the hook for those 60,000 shares or $600,000.00. The price is only relevant to the holder of the shares it does not affect PBLS at all, in fact if they convert to the common it reduces PBLS future liability.
I dont know how you see that as not a 1 for 1 deal. So there is not conversion like there was for the common shareholder who could trade in 167 common share for 1 preferred and then recieve a 6% dividend. As I stated before the $4,000,000 is actually an interest free loan for PBLS, they do not have to pay a dividend or interest on the money. The seller just holds onto the shares or he may sell them to a willing buyer.
Should the common stock price exceed $10.00 in 5 years, then the seller (holder of the preferred shares) would obviously choose option 2 and convert his shares to common shares and reap the benefits of the increase value of the shares as we all would also.
So dont make this as complicated, it is pretty clear the intent of the parties. The only problem I have is if the Agreement that I have (I was a party to the transaction, I brought Madison Bank into the mix) So if the document that is recorded with the government states that the seller is entitled to preferred shares of PBLS LLC, then their is a problem and it will have to be corrected.
So I let the cat out of the bag, I have in dept knowledge of
I dont know where you are getting this information. I have provided the exact language from the "Agreement to Purchase or Sell there are no preferred shares of PBLS, LLC. They dont exist and the .03 exercise price does not exist
Once again here is the exact language from the agreement:
"1. Price: The purchase price of said property shall be ELEVEN MILLION and 00/100 ($11,000,000 DOLLARS, to be paid as follows:
A. Purchaser shall pay to the seller the sum of SEVEN MILLION ($7,000,000.00) DOLLARS in cash
B. The remainder of the said purchase price shall be reflected in two options. The first option granted to the Seller is the purchase of four hundred thousand shares of Phoenix Associates Land Syndicate's Preferred Stock with a Par Value of $10.00 per share, for a total of Four Million ($4,000,000) Dollars. The price of said option shall be ten dollars and the option shall be for a period of seventy-two months form the date of closing. The closing is anticpated to take place on or before October 1, 2006. The option agreement and the preferred stock shall also include that the holder of the preferred stock has a right to "put" any or all of the shares to the Buyer after five (5) years and the Buyer shall redeem/purchase any and/or all preferred shares "put" by the holder for $10.00 per share; or
C. The second opinion shall be granted to the Seller to convert up to fifteen (15%) percent of the preferred shares referred to hereinabove into common Stock of the Buyer in any one year beginning one year from the date of closing. The price per share shall be the price of the buyers Common Stock posted on its stock exchange as of the postmark date of the notice of conversion sent by U.S. Mail.
THERE ARE NO PREFERRED SHARES OF PBLS LLC, IF THAT IS WHAT THE SELLER HAS, THEN IN REALITY HE HAS NOTHING AS THOSE SECURITES DO NOT EXIST.
Seller can convert upto 60,000 shares in year 2, 60,000 shares in year 3 and so on. As you can see there is no minimum price. I dont know where you get that and why would that even make sense in an agreement like this. The seller is obviously not going to exercise option #2 unless the stock price is above $10, otherwise he will wait his 5 years and collecte the balance due. It is a great financing move for PBLS as it is basically and interest free loan for 5 years. In 5 years after they have completed the remodeling and build out of the property it will be worth alot more and the loan can be paid out of proceeds from the sale and development of the units on the property. So please think before you respond.
PBLS LLC shares do not exist it is a company set up just to hold title of the Condo's to satisfy the lender.
SO IF YOU HAVE ANY MORE QUESTIONS ABOUT THE CONDO/TOWNHOME DEAL LET ME KNOW.
GOOD DAY
I have the actual contract on my desk, and I quoted from in verbatim the exact language from the contract. Obviously I am not allowed to post the contract, due to my confidentiality agreement, so whoever provided you with the .03 floor was totally wrong.
I would like to see a copy of the document you have, as I have the originally that was supplied to the Lender, Madison, fully executed by both the buyers and sellers.
So you can beat it up all you want but the facts are the facts that I previously quoted word for work once again when the contract was written their was no PBLS LLC, this was created after the lender issued the commitment.
So I am providing you with iron clad non-disputable information.
Good luck - happy hunting
Just want to reiterate the languae in the contract if for Preferred shares of PBLS, INC. Not PBLS LLC, The LLC is owned by PBLS INC, and was just set up to hold title of the condo project. It makes it a more simple task for the lender to organize the loan and enforce any agreements, without going through all of the corporate layers of PBLS.
Once again this is a 1 to 1 conversion and the seller does not have the option to purchase the shares, they were given the shares in lieu of $4 million dollars.
OH well, I provided the exact language of the contract to clarify the options and that is how it should be analyzed. The seller will obviously only convert after year 1 if he needs cash and the share price is significantly higher, otherwise he is waiting the five years to collect his $4 million dollars.
Good luck to all
Ren's post does not matter as this was the actual language of the contract. So the 3 cents is not a factor. I just wanted to make sure you had the correct information to make the proper analysis. As I see it PBLS has extreme financial interest in getting the share price to $10 in the next 5 years. Otherwise the holder of the shares will call the shares do and convert at the price of $10 X 400,000 shares or $4,000,000 cash.
So that should be their target share price.
Your analysis of the cond deal is completely wrong. I have listed the language and as you can see your analysis of the .03 cent stock price had no meaning. The shares conver 1 for 1 so the holder of the shares is not likely to exchange the shares until the price is significantly higher as he is guaranteed $10 per share in 5 years, so the likelihood of him converting after 1 year is totally dependent on the stock price. As you can read PBLS has every incentive to get their stock price over $10, the seller obviously would not exercise hit exchange option until the price escalates. So now you can do the correct analysis with the proper information. These shares convert on a 1 preferred to 1 common share basis.
HERE IS THE LANGUAGE OF THE OPTION FOR THE CONDO ACQUISITION
"... 400,000 shares of Phoenix Associates Land Syndicate's preferred stock with a par value of $10 per share for a total of four million Dollars. The price of Said option shall be $10.00 and the option shall be good for seventy-two months from the date of closing ... The Option agreement and the preferred stock shall also include that the holder of the preferred stock has a right to put any or all of the shares to Buyer after 5 years and the buyer shall redeem/purchase and or/all preferred shares "put" by the holder for $10.00 per share; or
2. The second optio shall be granted to the Seller to convert upto 15% percent of the preferred shares refered to hereinabove into common stock of the buyer in any one year beggining one year from the date of closing. The price per share shall be the price of the buyers common stock posted on the stocks exchange as of the post mark date of the notice of conversion sent by US MAIL
GOOD LUCK - keepen LONG FOR A LONG TIME - let this grow
your are wrong the stock was valued at over .03 cents when everyone thought the share count was 850 million then when then the share price was brought down because of the financial being posted without the share count and people predicting that there was a problem. So the market should hold right her around 1.5 range
They did not pay anything upfront they gave stock (preffered) to cover the difference between the purchase price and the mortgage from Madison.
But the rest of your information is correct, they can convert their preferred to common after year 1.