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Sorry. I hate it when that HUGE amount of shares I personally own (like less than .002% of the O/S) causes such a commotion...
That's good to know. Now who the heck is JZ? Has PBLS also added a hip hop star to the org chart on cash, I mean, shares sold, I mean cash? ;)
I suggest taking your cell phone out into the nearest parking lot and running it over with your car. I suggest an echo friendly 4x4 Tahoe on a 3 inch lift like mine. It will then work the best for you that it ever has worked. Trust me.
Oh wait, got to go, my cell is ringing again...
I'm going to try to do this from memory so please keep that in mind. After the whole fraudlent eviction papers served by Mitchell's attorney to PBLS (the eviction papers that were never approved of by the court, the papers that the attorney pretty much invented) the judge decided to not hear anymore arguments pertaining to the case (or that aspect of the case) for what amounts to a total of 18 months. This is when Mitchell was fighting for a PBLS to cease operating the pit. The court ruled no but made PBLS put up a bond. Mitchell then moved to increase that bond to $20M. The court ruled against that "with prejudice" and to me, it seemed that the judge was getting fed up with the case. He appointed a special arbitrator and then basically told everyone to take a break. Keep in mind that this case has been going on for almost 5 years now in the courts. That was late 2006, so that would mean that Mitchell can't re-enter into those arguments again until middle of 2008. In the meantime, Mitchell moved for an inspection of the scale records at the pit claiming that PBLS wasn't accounting for all the materials moving out of the pit correctly. That, I believe, is what today's court session pertains to.
Again, all from memory so don't hold my feet to the fire if something is incorrect or if I mis-interpreted the court docs. I try to keep up with them as some posters who pop in here now and then try to blow up the court case into some huge ordeal that PBLS is destined to lose. The transcripts just don't back that up IMO as all the original arguments have been shot down...
The court has asked Phoenix to prove that it is correctly accounting for the materials mined at the pit and paying royalties as they should to Mitchell & Furr. This request was made after Mitchell claimed that Phoenix wasn't paying them for all the materials mined in what feels like a last ditch effort to justify this lawsuit. After all, the pit lawsuit all centers around the fact that Mitchell and Furr are paid ridiculously small royalties per ton (typically less than $.25) and they want more of the "pie." They tried to claim that royalties should be increased because PBLS was a risk of bankruptcy. Shot down. They tried to claim that PBLS violated the lease with a sub-lease. Shot down. They tried to claim that PBLS is stealing material from them pit and should be paying for this "overburden." Shot down. Now they are trying to say that PBLS isn't accounting for all the materials mined. I wonder what the verdict will be as Phoenix currently has their legal team accounting for each transaction as they delve into years worth of paper records...
I have no interest in the justice served in Hazard County courtrooms...I'm only a sucker for pink stocks.
Yep...I gave them evil manipulators at Scottrade my certs back this morning and look at what happened! ;)
Soon...usually no longer than about a week but keep in mind that "soon" in Louisiana typically has longer definitions than in the rest of the country (except for maybe MS, AL, AR, GA...).
Suit #200312894
We will know whether they tell us or not as soon as the court minutes and images are brought up to date.
Beats me. I have never really cared much about the O&G side of this business as to me it's all mostly pipe dreams. So I never tried to track it down as I am focused on other things like the so-called "fourth acquisition" and of course all I have on that is rumor which past posts have eluded to.
PBLS LLC was formed solely for the condo purchase based on Jambamboo's posts and court docs.
I put my certed shares back into my Scottrade account today. I've decided it's "all or nothing" as the preferred deal is not strong enough for me personally for the risk involved. It's probably a sweet deal for some and I'm glad that a few of you have taken it. Just let us know when you receive that divy check...
Ren
Which states did you search? Which is the "right" one? Anyway, you get my point.
And as to "stating they acquired a company which has not yet been formed...that's just not a good thing"...show me one instance from the past where they did that ever. So you are implying the did something misleading with the Southern Concrete PR and only because you can't find them online. Wow. I mean I don't trust these guys at all but I at least try to make more informed decisions before I jump to them.
Here's some homework since you have already convicted them of lying in the PR...go find the "right" Barber Homes online that I work with. You can't find the one I work with because there are several and you don't know the right state to search. In fact, the one that builds 50-100 multi-million dollar homes a year "doesn't exist" through a simple Google Search. But they have a hell of a showroom and my clients love using them even though they charge in excess of $400 a square foot. Now try Inflexus Development Corp...Billion Dollar developer who also "doesn't exist" on Google and yet suprisingly always shows up for closings and who pays very nice commissions to me personally when I find them a nice piece of dirt somewhere to build on. Now try SWM Company. On and on it goes...and you get the point now hopefully.
All of these will provide you with "results" that are incorrect simply because you don't have enough information to do a solid search. Why? AGAIN, because not every business needs a web presence to do business. In fact being on the web can be a detriment to daily business activities because it just creates tons of superfluous emails and phone calls from people who contact you looking for another business. That's why you won't find me online, except that of course ironically I am online with you right now. Now if I could just figure out a way to destroy my cell phone and still do business I would be a happier man...
Anyway, enough of that. New topic please.
I didn't miss the point. You have to be able to search specifically for the business name as it was incorporated to know for sure and you have to know the specific state in which it is incorporated. We don't know the later, and even the former could be wrong based upon the wording of the PR (Is it Southern Crushing Concrete LLC now or is that what it will be in NV?) so outside of pure guess-work, it can't truly be confirmed. My point was that while PBLS might appear to be guilty of dilution and other less shareholder friendly things etc, one thing they have never been guilty of yet is PRing an acquisition that they didn't actually make or to be in a business relationship/contract that they actually were not. Every other business we have ever bought has been proven to exist in time, it just takes time some times. That's a lot of time which I don't have a lot of today so...eom.
Keep digging and you will find Southern Crushing Concrete LLC
Remember that Cherokee Environmental didn't show up exactly how they PR'd it though that is who the Pit contract was with. Sometimes its easy to find the company they bought (Best Jets) and sometimes its not (3D Construction). Just because it's hard to find online doesn't mean that it doesn't exist. One of the largest developers I work with has absolutely zero "net presence." Why? Because they don't need it to conduct their business...Southern Crushing is probably similar IMO.
Have a great weekend everyone. I'm off to kick up my heels...
I get the feeling that Paul is no longer in the driver's seat when it comes to spending. Just an opinion.
Not if they have a good working relationship/partnership in place with Cherokee Environmental...
http://www.investorshub.com/boards/read_msg.asp?Message_id=17225773&txt2find=cherokee
http://www.investorshub.com/boards/read_msg.asp?Message_id=17268823&txt2find=cherokee
http://www.pbls.biz/pressrelease_content.asp?prid=97
Ren
Oldteck & Elsie...
No problem but this is what I've been hearing through the rumor grapevine now for 2+ weeks. Spins offs and offshore banks and blah, blah, blah. I have more to share when the time is right, I just don't know if it's good to share information before the company PR's it. I personally don't want to do anything that hurts my own investment so just trying to use wisdom.
BTW Who is John Hayden? What is his relationship to PBLS? What is his background? Why does he have an office at corporate and meet with Ron Blackburn daily about the status of Phoenix business divisions and yet isn't on the Organization Chart?
Have to pierce the iron curtain to get details, especially about how it relates, how it was financed etc.
I personally believe that if they could spin off aviation related businesses, construction & mining, oil & gas into 3 separate companies and keep Phoenix as the parent "holding" company that would be best. Then its easier to keep the accounting clean and they can continue to send excess cash & equivalents to the parents who continues to buy. That's essentially the Berkshire model I believe and Wallstreet respects it more that just a big, fat conglomerate with lots of non-synergistic businesses.
As for us, they would simply need to give us/themselves divy shares of the 3 new companies to maintain equivalent ownership
OT- MRDALE...
BOOOOOOOOOOOOOOOOOOOoooooooooooooo!
(sigh.)
I've been asking the board that for 2+ weeks but no response. I must be on ignore and can't say that I blame 'em.
I think from a liability standpoint, spinning off divisions is a great idea as long as common shareholders maintain an equivalent ownership in the spin off. By liability I mean of business default and or major operating losses. Plus, conglomerates typically are not valued at a fair book value for assets like a "purer" company (ie like a spin off that holds very similar types of businesses in similar industries).
GDBX>SLJB>PBLS...sigh.
(That's why I can't quit my day job yet.)
Agreed. And once you develop the right contacts in a business, you can always make money in that business if there is money to be made. So whether or not they lose the Murphy pit (and the court case has been heading in our direction), they have supposedly positioned themselves to continue to make money in this industry.
Can't help but feel like they just threw us a bone to appease the dogs.
Thanks. That's good to hear.
One thing that is confusing to me about the PR...do we own said material or is it simply material left over from the aftermath of Katrina that is available for purchase cheap?
I wonder if this is a future potential Phoenix "spin off..."
http://www.investorshub.com/boards/read_msg.asp?message_id=20726953
I'll take what's behind door #3. Actually, taking a peak behind Door #3 still scares me.
Moderator conspiracy. eom.
Good post Jam. I agree.
OT- Lake - Don't you get crazy and buy anything over there...like a fancy house and such...have fun buddy.
I will be here with my "friends" holding down the fort. Can't leave the beach anyway for the 4th. After all, it's this holiday above all others where we rednecks demonstrate to the world just how much we like blowing stuff up. Kind of like a warning shot across the "port bow" if you catch my drift...
Good morning everyone. Just got back in town and have been gone since Thursday.
I wouldn't expect much in the way of a PR this week. Could be wrong, but just my thoughts. We have entered the "or so" part of "two weeks or so."
News will come. Just hope that its good news.
That's true for us who know the company fundamentally, but as you know from following this board for a while that technical players float in and out of this stock based on the chart alone. TA is the latest, greatest thing for investors since sliced bread but TA is not what brought me to this personally. I was just wondering if the MA crossing would be bearish or bullish to the TA "experts." The only way I have "technically" made money on this stock is buying bottoms, and again, only 50% of the time. To me, the chart has almost always lied on this stock, but hey, if it brings in new money to PBLS right now, whatever.
Chartists...
Please explain any signifance of a shoter term MA crossing over a longer term MA. I would imagine that this is a bearish, but am no expert.
Good volume this morning. Half way to 10 day average in an hour and a half...
The one speck of good news since June 13th is that this thing is holding at the 6 month bottom of .012-.013 and that while volume is tapering off some, it's still there. I still think that they are going to run this stock (PBLS, large shareholders, etc)...and they probably need to do it "soon." But what do I know. As another poster pointed out, I was wrong on the 815M O.S. though we still need clarity. Shocker.
OT - Shelby
Took the baby girl to the pool instead yesterday afternoon and we had a blast. Still having trouble getting her to hold her breath under water. I tried to go surfing this morning...blue skies, warm water, lots of sun and...flat. Sigh.