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where do you get the buy vs sell information?
Regarding the questions why deal w/ getting a dirty shell when you can get a clean one for $150K or so, MMG makes it clear on their website: Why pay the $150K when you can get one basically for free?
Why would MMG get involved w/ a dirty BK shell like PBLS? 1) It's just a momo P&D play; 2) They didn't do their homework (one of Xylan's hypotheses); 3) They believe that even w/ the BK and creditors, PBLS has valuable assets that they believe they can exploit. (Might those assets just be its shareholder base?)
Even if this is just a P&D, as I noted earlier, it might still make sense for them to pay the filing fees if SA gains custodianship; they can then turn up the PR campaign about RM possibilities which might create another momo run. Well worth the minimal investment of the court fees.
GLTA
PS...Hoping it is #3 above, and that the valuable asset is not just potential bagholders...
Actually, we don't know how much time and money MMG has spent so far. It could be as little as the attorney's time and the $250 filing fee; that's a drop in the bucket compared to the return on taking a stock from .0001 up to .0019
Who else is being scammed? Investors who purchase stocks w/out investigating what in heck they are investing in? I've been very clear in my posts that this is not a long-term buy-and-hold stock, thus I'm doing my part to inform potential investors about the risks. I can't be responsible if some people buy stocks when they have no idea what in heck they are buying.
Also, what is the scam? That a company runs IR/marketing programs? Which companies don't do that? In fact, if you read the information on the MMG site, they are very clear about what they are doing in regards to finding/taking over shells.
What is the criminal activity that you reference? Going to court and applying for custodianship is not illegal. You might consider it to be unethical or distasteful, but I don't see how petitioning a court can be considered criminal.
Do I think MMG is a bunch of Saints? Heck no...but this is pinkyland, if you want to associate w/ Saints, go to Church (just not one in New Orleans or thereabouts). However, I am curious as to why some posters are hell-bent on MMG failing? They surely are not longtime PBLS shareholders (i.e., bagholders), as MMG is probably the only hope that longtime PBLS shareholders have.
As far as I can tell, MMG is not doing anything illegal. Maybe some find it distasteful that MMG can pick up shells for peanuts and make money from it. In the case of PBLS, more power to them if it means the share price will rise and there will be enough liquidity for long-time shareholders to sell. I don't know how they will be able to pull that off, but I hope they do. My postings concern the 'how' that can happen, as it seems like PBLS w/ all of its baggage (e.g., creditors) would not be a suitable candidate for guardianship. So either MMG knows something I/we don't (and I'm sure they do) or else it was/is just a momo P&D. I hope they know something and this isn't just another sad chapter in the story of a Phoenix that has been so burnt to a crisp that it will never fly again.
GLTA
There is no other company listed besides SA....
I have no idea. For all I know, interested parties could have been present at the hearing and raised objections....or the judge could be taking her time b/c of the BK filings. Something else that I don't know is whether interested parties can petition to be heard before the judge makes a final ruling or whether challenges can only occur on the first day the petition is heard.
I'm pretty sure that I/we won't be the first to know what is going on. So I'm just holding and hoping....
GLTA
Looks like this is dead until either news becomes public or insiders start buying or dumping before news becomes public.
GLTA
PS...Not trying to bash, just trying to be honest about what appears to the situation of PBLS and its assets. I sincerely hope MMG's involvement is more than just a momo play based upon a court filing.
I'm having some problems copying the BK court document which shows that the Phoenix Estate and Alonzo Estate will share any unencumbered assets from sources such Treaty, Tri-Coon, any affiliates of such, etc., or individuals such as Ron Blackburn. It also notes that the Phoenix Estate holds funds of $27,159.21. Maybe 'funds' only includes cash. I can't put my hand on the asset sheet for PBLS, but again, I don't think there's much there. Hope I'm wrong, though...
Maybe I've missed some of the BK court documents, but to my knowledge, the liabilities are not gone. Maybe Xlan can chime in as has been following the BK case.
Yes, that seems logical. However, if you review the bankruptcy proceedings, you will find very few assets listed. Obviously, if the assets were greater than the existing claims, it would be fairly simple to pay off the existing claims. It is my understanding from reading the BK filings that any proceeds from the FNP Bank case will go towards paying off existing claims. Thus, it would seem that if PBLS has 'valuable assets', they must be 'hidden'. If that is the case, I'm pretty sure hiding assets from the court in a BK case would lead to additional court filings.
It is very possible that I am misreading the BK documents. I do hope that MMG can somehow increase the share price of PBLS stock to the .01+ range, but I'm having a hard time understanding why they would want to take over the shell of PBLS unless it is just a momentum play. There are plenty of other shells that are not in BK proceedings, let alone ones that do not have liabilities of $20+ million and few assets.
True....the question is, "Will the profit be made via a momentum play P & D on a .0001 stock, will it be made by doing something w/ the shell or both?" There's no doubt that some have already made out quite well during the recent trading activity.
Whatever assets PBLS has, they should be part of the trust that has been set up via BK proceedings to cover claims. I don't think there are many assets in the trust, and if that is the case, why would MM want to take over PBLS? I could be wrong, but I believe the debts follow the shell (at least that is how I read the information on the MMG website). If after the debts are settled, other assets are found to exist, would additional claims be filed? And if those additional assets are held by individuals who used funds from PBLS to acquire said assets, what then? Lot's of questions and very few answers.
Possibly from GDSM??? Which use to be ...I forgot...what it used to be, lol...
Wonderful...looking forward to your results. My post was not meant to bash MMG or PBLS, but rather to make it clear that w/ pinkies in general, and especially w/ a BK pinkie like PBLS, don't expect smooth sailing. Hope for it? Yes. Pray for it? Yes. Count on it? No. There might be some rough waters...
Hoping for the best!
A good 'rule of thumb' for investing in pinkies (especially ones w/ a history like PBLS) is:
'Hope for the best, but expect the worst.'
This is just another way of saying 'Don't spend your 'profits' before they actually materialize!'
Hoping for the best for PBLS...hoping and waiting..
It usually takes a couple of hours, sometimes much longer for me to get a response. Sometimes, I do not get a response. For the most part, the responses I get are plain vanilla "can't comment" types of replies. Jeff Allen is the IR rep who replies to the questions I submit via the MMG support ticket system.
My post regarding issues w/ other MMG plays does not mean that I think that PBLS was just a Pump & Dump play by MMG. I just hope that everyone understands that there is no guarantee that SA will be successful, or that even if SA is successful, a huge run on PBLS is inevitable. Believe me, I surely hope that MMG gets control and finds a blockbuster partner for PBLS...
GLTA
Long-time holder of way too many shares..what is the buzz? Is Tom going to re-list, sell, any future RM prospects?
TIA and GLTA
I thought that might be the case...
I have to take off for awhile...if someone wants to (hint, hint) they can go to the Pinksheets site and look up the filings for TECO and see what became of the PBLS/TECO 'partnership'...
If those shares were not sold, and still exist, IMO, they are part of the Phoenix Estate that has been set-up as part of the BK proceedings. Thus, once again, we get back to the shell and BK issue. I posted some general info from the MMG site that notes that:
During this time various courts and county records are searched for any possible judgments, claims liens or encumbrances against the issuer. Creditors are contacted and arrangements for settlement are commenced in concert with the secured creditors and the preferred shareholder who usually finances the settlement of these debts.
Hmm, it appears that my earlier posting of this information was deleted...deleted b/c???
PS...FWIW, don't believe Xylan deleted the post
FWIW, I have received a reply from MMG's IR department stating that Shareholder Advocates is a 'separate company from MMG'.
All copies that I have received were sent to me by a shareholder of PBLS. I believe all of the docs are all available via the net.
I have some of the court documents...but there are multiple suits and countersuits occuring. Aren't the court docs linked above?
Xylan has a better handle on the assets of PBLS than me. However, I believe that TECO stock was purchased by officers of PBLS, not PBLS. As such, those shares would be privately held. I could be wrong about this. If I am correct, that would raise another question, are those shares part of the PBLS or Alonzo Trusts that have been set up as part of the BK cases that are being adjudicated.
What assets does PBLS have?
Do you have an email address for Shareholder Advocates?
They started off Chapter 11, but I'm quite sure they have converted to Chapter 7.
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF LOUISIANA
IN RE NUMBER
PHOENIX ASSOCIATES LAND SYNDICATE 09-11743
SECTION "B"
DEBTOR(S) CHAPTER 11
To Be Converted to
CHAPTER 7
ORDER CONVERTING PROCEEDING FROM
CHAPTER 11 TO 7
Considering the motion of PHOENIX ASSOCIATES LAND SYNDICATE to convert
Chapter 11 proceeding to Chapter 7 filed on July 30, 2009;
IT IS ORDERED that the proceeding filed herein by PHOENIX ASSOCIATES
LAND SYNDICATE on June 10, 2009, be and it hereby is CONVERTED to liquidation under
Chapter 7 of the Bankruptcy Code.
IT IS FURTHER ORDERED that PHOENIX ASSOCIATES LAND SYNDICATE
file a list of all obligations incurred during the Chapter 11 proceeding which remain unpaid.
Said list is to include each creditor's full name, complete mailing address, and the amount owing
and is to be filed with the Court together with an updated mailing matrix no later than AUGUST
17, 2009.
IT IS FURTHER ORDERED that PHOENIX ASSOCIATES LAND SYNDICATE
file with this Court and with the U. S. Trustee, no later than AUGUST 17, 2009, a financial
statement showing its operations during the Chapter 11 proceeding. Said financial statement is
to include a balance sheet and profit and loss statement together with a list of all assets.
09-11743
IT IS FURTHER ORDERED that should the debtor fail to comply with the foregoing
orders, citation for contempt and/or sanctions may be issued.
IT IS FURTHER ORDERED that the U. S. Trustee appoint a trustee in the converted
proceeding.
New Orleans, Louisiana, July 31, 2009.
_________________________
Jerry A. Brown
U.S. Bankruptcy Judge
In general, do not trust anyone, especially in pinky-land. We all know that there are hustlers, pimps, liars, cheats and weasels around every stock/deal. I'm not claiming that MMG or anyone affiliated with MMG fits into one of those categories, I'm just noting what we all know...don't trust anyone in pinkyland.
GLTA
Did you read the material from MMG's site that I posted regarding the settling of debts when a shell is acquired? The shell might have value to the trust if they wanted to market it as a shell, my guess is that is too much of a hassle, so although in theory the shell may have value, in practice it might be a moot point.
Regarding day-trading, I'm thinking along the lines of something like this (I'll use PBLS recently)
1) Buy shares before/as run starts.
2) Sell 1/2 at double or above (if it occurs, of course).
3) Price hits a high and stalls (.0019), sell. Of course, if it breaks through, you miss out. Also, you will probably not be able to time it to hit the high, so maybe you sell and your average is .0017 Knowing what we know now, that a petition decision may not be publicly acknowledged for days or weeks, one can expect that there will be ample time for shakes and weak knees.
4) As price retrenches, use proceeds from sale at step 3 to repurchase. You are still playing w/ house money if you don't touch the initial investment that you took off the table at step 2.
Problem w/ this approach? Getting greedy...
W/ Zecco you can flip to your heart's content all day long if your entire portfolio is $2,000 or above. I will be opening up an account with them shortly. I came across them a couple of days ago on a stock board.
www.zecco.com
800K just went at .0005
LOL...I do not have this game down pat...I am just learning. IMHO, Alex and ITGUY have this game down pat. The initial petition will show the hearing date. SIPP hasn't done zip yet.
Live and learn...Lord Knows I've had my brains (and wallet) bashed while learning what not to do ;)
Your welcome...let's keep fingers crossed that MM gets control and this thing runs like crazy...like LT after a cheap hooker..er, I mean after a QB
Yes. You'll see a listing like the one below. Open it up and make sure it is an application for shareholder custodianship on behalf of Sharehoder Advocates
Shareholder Advocates, LLC vs. SIPP Industries, Inc.
04/29/2010
Department 2
Other Civil Filings (Petition)
Open
There have been tons of posts about this:
1) Go Here: https://www.clarkcountycourts.us/Anonymous/default.aspx
2) Click on 'District Civil Records'
3) Search by Attorney: Use last name: Chasey First Name: Peter
4) Put in date range, otherwise you will get too many hits.
This will work as long as MM uses Chasey for their petitions using Shareholder Advocates. If they change attorneys, you need to search using Shareholder Advocates...I have not had luck using them for searches.