I saw the contract for the purchase of the condos, saw how the deal was structued with the preferred shares being valued at $10 per share and then convertable after year 1 at I believe no more than 20% of the preferred stock. I belive they had been issued 400,000 preferred shares and they could only convert 100,000 shares a year after an initial 12 month holding period.

Hope this helps.

Just remember when they purchase companies with the preferred stock the holder of the preferred stock is allowed to convert a percentage of the preferred stock to common on a yearly basis.

I would like a person with an accounting background to explain how the company must account for the conversion option. This may be why the outstanding shares were higher than predicted, it may be an accounting situation.

Well we will see what happens but in the end years down the road this will be just a bump in the road, they are building a solid company. Go LONGS PBLS

The colors do not distinguish whether it was a buy or a sell it just shows what price the transaction was completed at. RED/Greed Bid/Ask and then the other colors signify that it did not trade at the bid or the ask. I believe there is some method to the madness.

Look for this to close today at .031 and then lord knows what will happen tommorrow good be anybodys game. So it was nice to see that most investors did not panic, once you analyzed the situation and determined what they were doing, you can relax, kind of sad to say relax when I lost $7,000.00 but I am stil way green overall on this investment. The benefits of getting it sub penny.

so FRIDAY is DA DAY

Dont worry I have the same feeling, i bought 1 million shares yesterday. but dont panic we all know where this is going.

Absolutely amazing how this stock can be manipulated down so easily with $150 trades, truely amazing.

I agree with you, all this little stuff. I believe it is probably someone trying to push the market down by selling small amounts and then buying back a substantial amount after they get the price to where they want to buy. As we know this stock has held strong for the last 4 days. I bought more at .0335, so i dont like to see it, but you have to look at the big picture it will pan out, when everything is all said and done. I would be a little alarmed if I saw big blocks being sold off, that would indicate PROFIT TAKERS.

We should all be happy on Friday. God Bless

well we will see what happens next I deposited funds for at least 1 million shares yesterday, funds to be available just after noon so look for my buy for about 1,029,411 shares

I would tell him SCOTTRADE as well. They also have a great referral program When you set up the account if you were referred by a current scottrade account holder, the referral account and the new account would each get 3 free trades.

Good luck, let me know if you need any help.

Ren

It is my understnding that the guitar manufacturing will continue, but the owners of GREM USA are looking to invest in a private nano tech firm and then bring them public. So in reality they have nothing to do with each other, but it is an investment option for GREM

Yes I hope the nano-tech play, pays off, the technology is amazing, has so may useful applications.

Keep on keeping on.

NOT goint to happen. They dont have to. They provided the option when the stock was below two cents. Remember not alot of shares were exchanged. You are acting like the person who excercised this option was forced or induced to take the offer. We all did the analysis, though about it and then decided what was in our best interest. People should not be further rewarded because they took a sure thing, when the rest of us took the gamble. We all had the same choices. It was a good play at the time if you wanted to protect some of your investment. But in no way should those who CHOSE willinging to partcipate should receive an extra dividend for what. They took the sure thing and thats what they are entitled to, no more no less. I cant beleive that you would want our company to operate this way. It would be like when the signed the lease for the mining operation and say were paying 5% of gross as the fee and now the profit has gone up 200% and we approach our landlord and say hey you were so nice to us when we signed the lease, so we are going to give you an extra 2% of the gross, even though we only owe you 5%. We like to share our profits.

Would you like our business to be run that way, thay everyone who makes a deal with us should benefit if our company officers are smart enough to make a profitable decision and it pans out. I dont get you guys, unless of course you are holding the preferred shares and now wish you had not done the conversion.

We all knew that what is happening now was more than likely going to happen. And yest the float was reduced, but only slightly, the effect on the pps would be nominal, and most people tha did the preffered deal only convereted a portion so they are going to benefit on both ends. Securing their profit and letting the rest ride with us. So stop being a Charity with our companies profits, the money used to pay an extra special dividend could be used to buy back more shares, issue a common share special dividend or anything else profitable.

Good day, Robin Hood

That would be fiscally irresponsbile and they would probably get sued by shareholders. You make a deal you live with it. The have no obligation to sweeten the deal. There are no redo's and it would not be fair to those of us that did not take the deal. We took the risk and should be so justly rewarded.

How could you think that PBLS would adjust the value of the stock for the shareholder. The investor had an option to secure their profits and execute the trade or not. PBLS is not fiscally responsible to maximize investors profits based upon choices they made.

Good day.

That is a large cost of doing business, that is almost 10,000 shares of PBLS that he could have received. If he would have set up a Scottrade account and had given a referral his 1st 3 trades would have been free. So in the end when it hits $1 he lost out on $9700.00

Its 7$ + 1/2% of the transaction. So $1,000 trade would cost you $12. $7+$5=$12. Not bad. I believe Ameritrade charges $12 across the board

Anchor you need to do more research on your facts regarding the mining operation.

If you do you will realize that yes Phoenix lost initially at the trial court level, but that was based upon the facts presented by the charging party, the owner of the pit, the injunction was granted based upon their arguments alone, once Phoenix was able to present their side the appeals court overturned the trial court and now the trial court has all the facts and had continued to rule in Phoenix favor.

The owner of the pit tried to pull a fast one on the court but they were apprehended by Phoenix's legal team and once the trial court was made award of the pit owners actions, has continued to rule in Phoenix favor. So the likelihood of us losing the contract at the pit is mimimal. In fact due to the tortious interference of PBLS business at the pit the owner of the pit may be liable to PBLS for significant damages. Go back and read what happened at the trial court level and what really occurred and how the pits attorney misled the court by not following the civil rules of procedure.

Well thats all I have to say, you conclusions are based on erroneous information.

Just to let you know about the Webcam. They are not just installing a single web cam for us. They are establishing a security system for the entire pit that has been mandated by their insurance company.

So the entire PIT will have a Closed Circuit System that the company will be using to monitor for primarily security purposes and then they will allow 1 feed to be accessible via the web for all interested parties.

That is the whole story, so realize they are doing things for a particular reason. The probably should have elaborated more because to us here on the board we want to be able to hold others accountable for what they say. But it will be nice once the entire system is up and operational. My understanding is that they are getting bids on their system design and then it will installed.

Have a great Day GO PBLS

I see where you capped the work GOLD, does that mean anything? Are they investing in something related to GOLD, any insight would be much appreciated. I am trying to figure out how to play this pinkie.

Thanks

Dont you remember what you invested in a penny stock. You have very little rights, and the pinkie has very little legal obligations. They have no duy to file or report anything. The only possible legal issue is giving out false or misleading information. Which one would have to argue what that entails, what has Phoenix misled, the timing of giving information that they are not legally required to do.

They have not issued false PR relating to income, assets acquisitions etc. I think you would have a really hard time finding a claim that would stand up in court. Let your investment dollars be your voice, sell or buy more. You dont have enough shares to matter to management and I would be willing to be all my shares 10M plus that the o/s is below 1B.

This investment is a 5 year plan for me. Look at what they are building. I was here sub penny took the rise all the way up and now i just sit and wait for the company to grow and grow and grow. This is a once in a lifetime find, enjoy it stop bitching about something you have no control over and no matter what you say will not effect the outcome of this stock. You can only buy or sell, your bitching i guess is free.

Good luck

I think you have your facts wrong. The piece of equipment is not possesseb by PBLS, the bank already possessed it. PBLS has a suit for wrongful repossession. My understanding of the facts is that PBLS paid in full for the equipment. It was delivered but the manufacturer owed the bank money and the bank took the equipment after title had clearly passed and was delivered to Phoenix. It is a real legal matter dealing with UCC issues and when the UCC lien was filed and if it was filed correctly and so on.

So an answer to your question if we win we win monetary damages from the banks for lost business and the lost funds we paid to purchase the equipment we never used. We in the meantime acquired additional new equipment that is fully operational at the pit with no liens. Hope this answers your question, I could have explained it better but I am tired.

I think you all are making a mountain out of a mole hill. You invested in a Pink Sheet company. What was your intention? make a quick buck and get out. If you look at all the DD you would know that they are building a company. If they were like alot of pinkies they could be doing alot of PUMP and DUMP but you dont see that here. They could issue a PR every week to inflate the stock price on estimate and conjecture. In this day and age of Enron etc, they should be aplauded for not abusing the release of information. Everyday the same people bitch and bitch about the same thing. Financial Financials Financials. If you need to bitch go somewhere else. I guarantee they are paying little attention to your complaints and conjecture.

Do you really think the SEC would get involved. Are you kidding me? If this was an SEC cause of lying and fraud I would hate to look at the rest of Pinkie land, the SEC would never have time for anything else. You all have way too much time on your hands. What was your plan on getting in. What was your exit strategy? how much time a month, 6 months. What was your profit goal. The management of PBLS is not here for the quick buck, this is their chance to make it big and set their future generations up financially for centuries. So be patient and stop the bitching about SOON, SOON. They will get to it when it makes the most sense and we will all be rewarded. Even though some of you should not be for all the complaining you do. This is a legitimate business. Let them do what they do best build a company not answer to some little investor. The have more shares than all of us combined, so I guarantee when the timing is right to maximize the profits and share price, the propert documents will be filed and the windfall will proceed. So stop getting your panties in a wad or just leave the game. What do you need to get out of this cause you obviously cant handle the investment. Oh and by the way how many dollars do you have invested in here. I have my opinion but I bet it is relatively small compared to the people I know that are investor and none of us are sweating. The big guys arent the ones that are bitching its the small guy thats ever complaining. So it you dont have more that 25K invested in thi company your opinion has little value. When you have something that has a meaningful value then maybe your opinion with have some value.

Well enough of this, you all need to relax. But these are the small fish in the big pond. There are much bigger players in this game and no one is sweating.

Good luck to all and if you cant handle it get out of the game and stop with your SEC probes and threats they are fruitless our government has much bigger fish to fry rather than a management team that is late on issuing financials which they are not legally bound to issue. That is why they are a pink sheet stock, you get what you pay for.

Good night.

It does not really matter if the condo that is for sale is owned by US, its the fact that the sales of like condos establishes the market value for all of the condos we own. So I believe we purchase 31 or 32 condos and if they all have an estimated value of $399K which puts the total value at 12.8 million, just for the condos, never mind the 2 undeveloped parcels of land along with the boast slips. We purchased for 6.5 cash and the rest is stock. So go figure seems like a cash cow. They will probably finish remodeling all of the condos that were purchase sell what the market will bear to maximize the value and slowly payoff the 6.5 million dollar loan they have on the property and then develop the parcels.

What a great sound investment. Way to go PBLS.

I dont think you even know how our court system works. Both parties could agree on every point except for 1 and the case could take 4-6 years to be resolved based upon our procedure. The court system is not for the faint of heart and justice is not quick, it is tendered to those with deep pockets and smart attorneys. If you read the case law and the facts about the case you can easilty see that PBLS is in a superior position and will prevail in the end. What will end up happening though is both parties will reach a settlement agreement. People would rather give up a little than risk alot and gamble with a trial, where you never know what may sway a jury or judge. So look for all the issues to be put on the table and when one party believes that they are fighting an uphill battle they will try to settle, this minimizes their liability and lets them appear to have one and the ones that get rich on these law suits are the attorneys. So if you think this will be out of the courts in a year you are smoking something. The only way this case goes away in the next 12 months is if their is a settlement. Which would suite the owners of the pit fine, as they are on the losing end and when you lose in court you have to pay the other sides attorneys fees. Dont think that PBLS is not trying to make the Pit as profitable as possible, because this would be how damages would be awarded. They would show the court that in 2007 they made 20 million+ and if they would not have been intereferred with their profit in 2006 would have been at least that much, but due to the iterferance they only made 1 million. The proof is in the numbers for the judge and jury to decide, they can quantify profits and then penalize the losing party.

Go PBLS

Corporation was dissolved in 1992. Try again, thanks for the effort

Just remember that the only debt the company are for mortgages for property for which they own. So their assest are significantly greater than the liabilities so you can assure yourself that they will make good on the preferred shares being paid out especially if they are able to reduce the O/S by say 100 million shares those 100 shares will significantly change the value of the stock which PBLS has the majority of and when it does pop they will have significant capital to payoff the preferred shareholders. I will be converting a million shares this will cover my total investment and the remaining 7 million shares we have will let ride to the promise land. No worries only GAINS

How can you say that they are worthless, they are trading and in fact closed yesterday at .11 and today at .10, So by far PBLS should at least be able to recover a portion of the debt owed, they just have to slowly sell their shares as the market could not absorb the entire amount as it is almost their entire float.

At least management has the ability to control when they can collect the debt rather than waiting for the corporation to pay when they have funds. So hopefully the company follows through on their business model and the shares may be worth more than .09.

If the company cleans up their act their is always the possiblity of a clen shell for possible moving up to a bigger board.

This is interesting. PBLS has CASH

So we did not purchase shares of LDTI, we were given them in lieu of a debt owed. I hope that we sold them then, or will be selling them. As I see it now the chance of a RM are not realistic. It makes sense now because if you reviewed the companies SEC filings they were not very strong.

You are WRONG WRONG WRONG.

AT conversion you will get $10 for each share. It does not convert back to common shares.

Remember they are tyring to remove shares from the market, at conversion they would not want to flood the market with additional shares that they had already purchased back. You will get CASH CASH CASH NOT SHARES

you would not have $106 after the 1st quarter, you would have $106 after the 1st 12 months, remember its 6% yearly dividend, not quarterly, so you would actually get 1.5% per quarter so after the 1st quarter your $100 would be $101.50

Good luck

I agree with you. We now know that we will not be given any financials until this redemtion period is complete. Once they determine how many common shares they have outstanding is when we will be provided with the audited financial, no earlier. So expect this program to be in effect until the end of March and then hopefully we will be provided the AF sometime in April/May.

Good luck

Even if they do a reverse split the value of the company when they issue their earning will be proportionate to the outstanding shares. So say it was trading at $.10 and they did a 4 for 1 reverse split, so long as the value changes to $.40, the value of your shares would remain the same but instead of owning a million shares you would own 250,000 shares but the value would be the same = $100,000.00.

So do you really care how many shares you own, so long as the value is correct.

Good luck

What are you talking about the Preferred divident getting first dibs. There are no extra dividends they pay 6%, just like a bond, no matter what the company makes or does not make the Preferred shareholder is only guranteed the 6% no more no less.

Got it

Its not a participating dividend.

It converts @ $10.00 per share within 5 years. So if you have 1 preferred share when they call the stock then you would send in yor certified share and they would send you $10.00 plus you would have recieved a 6% dividend for each year of owning the stock.

$10.00 each prefferred share will be worth $10.00 at redemption.

Question for anyone? What is the better investment play? If you have $5,000 to invest and you must either select PBLS or the Liesure company (Shell). which is the better investment and why? Which has more risk is the risk worth the reward?

When and if the RM occurs how are PBLS shares accounted for in the new entity, is it a ratio and if so who sets the ratio. Obviously it should not matter because the price of the share should reflect the value of the company. So regardles if you own 100,000 shares or 1Million shares your equity position should be the same, the price of the stock will reflect it.

But if anyone has any basis for identifying the better investment please let me know.

Thank you.

I guess the press release by RA brought attention to the matter they did their research and concluded that they did in fact make an error. RA stating that he verified it with them, I doubt because each person that called stated the First Call was researching the matter, they did their due diligence and then posted the results as a good business would do. There are no problems making errors in business it is how you deal with it that makes your worthy or not. I just dont believe RA had good intentions. I think this stock will plummet, and then hopefully they get everything straightend out and stick with a good business model as I believe they have a good and needed service. It will just take time to become profitable, but who knows if they can make this profitable with all the debt they are carrying and then they just issue stock to pay for services. We need to see some wholesale changes. Good luck to all.

I cannot believe that he posted this type of response to the First Call MISTAKE. He stated that the removal had no explanation. Well we all know that they explanation was clearly given the analyst's analyzed a stock that has a projected value of $26.50 it just was not USXP. First Call has a duty and responsibility to correct a mistake upon learning of the mistake, they cannot allow for the continued mistake to continue to be published and then have the company exploit the mistake by appearing to rely upon it on a press release which caused abnormal trading levels.

In fact if Mr. Altomare had called First Call to verify he should have asked more poingant questions, if they really thought his company was worth $26.50 per share, he should have asked for the analysts report. Instead he used and abused incorrect information to try and maximize his ability to pump and dump his stock. As I have said before this report on First Call/CNBC has been out for over a month, in fact it was one of the items I used when I was doing my DD when I decided to invest. Well I should have done more DD because all of the negatives of this company far outweigh the positives.

I agree that they maybecome profitable someday, but how are they ever going to clear all the debt they have accumulated. You cannot just keep issuing shares for services, the company will eventually fail. I hope that all goes will with this company but his blatant response to First Call's removal of incorrect information was laughable. I lost all respect with the way he handled the information. It made it clear that he knew what he was doing and then he states that he is not afraid to sue other companies and brags about the $700 million judgement USXP has against what he states are naked shorters. He may have a judgement but the judgement is worthless because he cannot collect on it.

Oh well enough here, I just can believe that he responded the way he did with more lies. This company is hurting in a time when it should be set up to flourish. They need to deal with the negatives and come out with the positives which are a good effective product and service. I just dont like the practices they use to get to this point.

Good luck to all

LETS SEE IF RA SENDS OUT A PRESS RELEASE CORRECTION ANY BETS?

SEE THE POST BELOW PREVIOUSLY POSTED BY IMILOA, great work.

Posted by: imiloa
In reply to: None Date:2/9/2007 3:46:34 PM
Post #of 3265

fwiw, I called First Call to confirm the CNBC report. Their number is:
888-888-1082

They've had a few calls on this today, and patched me through to the rep who's handling it. The rep said "senior mgmt" was meeting over this presently, and that someone would call me back.

While typing this up, "Glenn" from Thompson called me back with the story:

The First Call 0.08/share EPS and $26 target was for a different stock:

XPRSA -- US Xpress Enterprises
http://finance.yahoo.com/q?s=xprsa&x=0&y=0

CNBC apparently mapped the report incorrectly to USXP.

In the meantime, Altomare seems thrilled to milk this, issuing a PR without first confirming the validity with First Call.

And the stock is still being bought frantically, trades hitting ask of 0028.

I just ducked out myself, expecting clarity to come by opening on Monday...

But we all know this cnbc story came out last time and the same thing happened, That is how I found out about the stock, this is not new news, it just has a new audience. I got in and got out and lost $200 no big deal, but we all know this should probably go back down again in the next week, until they can post some consecutive positive quarters. So I will enjoy this. If you do look at the company as a whole they are in deep trouble but they have made it this far so I will leave my little money I have in this one. Good luck to all enjoy the ride.

THIS IS NOT NEW INFORMATION, AMAZING HOW THIS SYSTEM WORKS