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Now that the stock is effectively dead.
Its about time we write a letter to the SEC to investigate.
The SEC only needs a few complaints to get them to start looking into a problem. They wait for enough complaints to come in before bothering taking action. The company banks on the average shareholder is to apathetic to do anything, and will just take their lumps and move on. Every shareholder I have met through these boards and other have been good people who heavily bet on this stock and did not deserve to get defrauded in this way. I have heard people who mortgaged their houses. I even remember Ron telling me to do such. Let me tell you a story about Ron Blackburn. My phone record will verify this as well as my trading records. I had called the company one day and asked to speak to mike Riley. I was told by one of the receptionists that he no longer worked their. Upon hearing this I saw this as a bad sign and sold a fair amount of shares. I called Ron Blackburn to ask why, he told me it was bull---. He asked me where I heard this. I told him from the receptionist. He then got off the phone and had the receptionist call me back and apologize for giving me bad information. I asked her how she possibly could give me such an answer if it were not true, she had no answer. I then called Ron Blackburn and told him based on the information I sold a lot of shares. He told me how sorry I was going to be for selling and that I should buy back the shares immediately for they had a lot of very good things going on. I did buy the shares back. That afternoon after the close they announced the decision that they lost the pit. He had me buying right into a press release that he new would plummet the stock. This is Ron Blackburn. I have been speaking to Ron Blackburn on a weekly basis and got to know him very well. This is what he thought of me and our relationship.
Please people stand up for yourselves. You will feel better that you did.
http://www.sec.gov/complaint.shtml
Please take the time to read the following post
Phoenix Associates announced in the past that when they became fully reporting they expected to have 815 million shares or less for which they owned 40% at the time. That is exactly 326 million shares.
In the most current filing with pink sheets which is titled Current adequate information, series 2 has 62,500,000 authorized of which 283,123 is outstanding. Series 3 has 62,500,000 authorized of which 10,369,275 are outstanding.
For management to come up with this amount of preferred three shares they had to come up with approximately 601 million shares. That means they had to give themselves an extra 275 million shares to pull this off. Do you you see any great success story in the stock price to attribute a 275 million share bonus. Let's say the stock was trading at two cents when they did this corporaate action, that is a $5.5 million bonus for the three of them. The sick part is their conversion rate is $.17.
That means 10,369,275 shares at a par value at $10 is equal to 103,692,750 dollars of future net profits out of this company. That is over 103 million future net profits taken from us after giving themselves a 5.5 million dollar bonus.
If anyone wants to understand the calculation all you have to do is take a par value of $10 and divided by $.17 which is approximately 58. Then you take 58 times how many series 3 shares are outstanding which is 10,369,275 and that is how you come up with 601,417,950 shares retired to create this Series 3 preffered.
I spoke I asked Ron the other week to retire them, he said we had every right to do this under Nevada law. I said the Board of Directors has a fiduciary responsibility to act in the best interest of the shareholders. Do you think this was in our best interest? He had no comment. At this point management retired all their common shares and gave themselves a 275 million share bonus. What loyalty do they have to the common shareholder if they don't even have any. With these preffered 3's hanging out their they can rob this company of alll its future net earnings into an almost unforseeable future. Why are we standing for this? We shold all pressure this company into retiring them. Almost all sophisticated investors will avoid this stock like the plague as long as they hang out their. That corporate action alone had a huge negative impact on the stock and will continue to do so in the future. Send letters, emails, phone the company and say enough is enough. This must stop. Retire all the preffered 3 shares and the 275 million shares they stole from us.
I spoke to Don Hayden for over an hour today. He agreed with me on every assesment.
I have been trying to warn people for months. Most of my posts have been erased by moderators on this board. I even had Matt the Ihubb Administrator send me a nasty message telling me to knock off the stupid posts. He highlight 4 posts over 1 month period that injected humor with how management has been treating us and how we all follow along.
Here is what I wrote back?
Matt I do not think these posts are stupid at all.
They reflect the management and the people who believe their pile of lies. Many of the press releases this company has put out for two years has been blatant lies. Look at a chart of Phoenix associates and you tell me? Take a look at the chart??? I was a very large shareholder and was heavily defrauded for a tune of 100,000 dollars. I have already written letters to the SEC. I plan on sueing them. I am seeking legal counsel in Nevada currently. I am not sure if I can find anyone to represent me on a contingency for I don't think the company has anything left. I know at least 30 other shareholders personally that feel my way. Why do you protect the administrators when they clearly do not look like they are looking out for the best interests of the shareholders. My posts are clearly on topic. Many posts for months have been erased by the board admininstrators. I am trying to protect other people from getting hurt. If humor is added to that agenda what difference does it make.
I would like you to answer why you would protect administrators when they are overstepping their privilages by erasing posts that have a negative conotation. Doesn't that expose you to possible litigation? Also I was planning to be at the traders expo in Nevada this year but this year I was not able to make it. I go to the money shows and the trader expos every year. I was hoping to talk to you all in person.
Please call me if you can after the show when you get time.
Your Truly,
_________
I do not want this post deleted like most.
.025 25 trades 1,050,365
.024 4 trades 270,000
.023 3 trades 100,000
Stock now at .0225 .023 Ask
Ridiculous!
Every trade today was a buy at .025 up to a million shares
One sell of 150,000 shares at .024 knocks the stock down from .025 to to .023-.024 .
Looks like the shorts are holding it down. Thats OK, more to cover later.
This company is banking on people are to stupid to realize they are being screeewwwed! They in effect with this corporate action stole the company from us.
It's incredible how misleading some people are on this board.
Phoenix Associates announced in the past that when they became fully reporting they expected to have 815 million shares or less for which they owned 40% at the time. That is exactly 326 million shares.
In the most current filing with pink sheets which is titled Current adequate information, series 2 has 62,500,000 authorized of which 283,123 is outstanding. Series 3 has 62,500,000 authorized of which 10,369,275 are outstanding.
For management to come up with this amount of preferred three shares they had to come up with approximately 601 million shares. That means they had to give themselves an extra 275 million shares to pull this off. Do you you see any great success story in the stock price to attribute a 275 million share bonus. Let's say the stock was trading at two cents when they did this corporaate action, that is a $5.5 million bonus for the three of them. The sick part is their conversion rate is $.17.
That means 10,369,275 shares at a par value at $10 is equal to 103,692,750 dollars of future net profits out of this company. That is over 103 million future net profits taken from us after giving themselves a 5.5 million dollar bonus.
If anyone wants to understand the calculation all you have to do is take a par value of $10 and divided by $.17 which is approximately 58. Then you take 58 times how many series 3 shares are outstanding which is 10,369,275 and that is how you come up with 601,417,950 shares retired to create this Series 3 preffered.
A vote of confidence for this stock is to see management retire their Preffered 3 shares. They took them on the guise that that it was to protect them in a hostile take over. We know thats not the case. Retire them and the other 275 million shares they gave themselves for what? They clearly stated in the past they owned 40% of the 815 million shares that were supposed to be outstanding. They retired 600 million to preffered 3, where did they get the extra 275 million? I asked Ron the other day to retire them, he said we had every right to do this under Nevada law. I said the Board of Directors has a fiduciary responsibility to act in the best interest of the shareholders. Do you think this was in our best interest? He had no comment. At this point management retired all their common shares and gave themselves a 275 million share bonus. What loyalty do they have to the common shareholder if they don't even have any. With these preffered 3's hanging out their they can rob this company of alll its future net earnings into an almost unforseeable future. Why are we standing for this? We shold all pressure this company into retiring them. Almost all sophisticated investors will avoid this stock like the plague as long as they hang out their. That corporate action alone had a huge negative impact on the stock and will continue to do so in the future. Send letters, emails, phone the company and say enough is enough. This must stop. Retire all the preffered 3 shares and the 275 million shares they stole from us.
Welcome everyone.
This company is the future for Green Building
I think this news is hillarious.
No one has a clue to whats going on and that seems to even include management. You couldn't write a script for this because no one would believe it.
Bid is building up at .0055
Ask is shrinking
Looks like we might go higher
Looks like we finally might run a little.
Up 7% for day
Hopefully the company will put out their update either today or tomorrow like they have been saying.
Their are many attornies that practice Secuities litigation,
I already did preliminary homework and did not feel it to be that big of an obstacle. With all the crap this management team has pulled, retiring these preffered three's would be them getting off easy. Remember they all have board of directors insurance, that alone makes this easy. I am sure a lot of people who sold at huge losses these last 2 weeks are going to want some form of justice. The majority of people I knew in this stock had very large positions and most of them have sold. Their are a lot of extremely unhappy shareholders including myself who are going to want justice served.
Here is what I'm requesting of management.
I have already told Ron Blackburn, as well as John Hayden the following information. This company put out in a press release that there would be 815 million shares are less when they publicly reported outstanding share count, and that management owned 40% of the shares. That means management owned at that time 326 million common shares. Personally I feel that the preferred three deal that they did for themselves is a sin to shareholders. They conveniently use the excuse they did this to protect themselves from a hostile takeover. I personally think the answer was bull. I think it was clearly gread on their part and nothing more. Now that we know that there is no way there is any hostile attempt being taken I asked that management retire their preferred 3 shares back to the treasury. Understand this as well, they retired 600 million shares for this preferred three class. That means they gave themselves 274 million shares as some kind of bonus. Management clearly breached their fiduciary responsibility in regards to this action. Not only was the preferred three deal unjust, but giving themselves an extra 274 million shares is outrageous. No bonuses should ever be given, unless the shareholders somehow benefited, which is almost usually a strong appreciation of stock price. This is clearly unjust enrichment. The SEC in this situation will not get involved in a breach of fiduciary responsibility. But since they are registered in the state of Nevada. We could hire a Nevade licensed lawyer to fight them on this matter and I personally think easily win a victory on having them retire 274 million shares back to the treasury as well as take their preferred three shares back to common. This preferred three share class was a dagger in the heart of this stock. No sophisticated investor would ever invest in a company where management did not own common shares and were potentially going to rob the future net earnings from the common shareholder for many years to come. What invested interest do they have in ever seeing the stock go up. They don't even own shares. They can be potentially put back in common shares if they so choose to. We as shareholders should demand that the actions that I've stated above be taken, or they will see us in court.
Again as long as those preferred three shares exist out there,
it will always have a very strong damper on this stock. The company can just rob the future net earnings to the tune of 102 million. That is 600 million shares times 17 cents. If I am wrong with my calculation anyone please point it out? Idon't think I am. And I repeat those preferred three shares will always have a severe damper on any future stock appreciation. We were willing to accept these, because the company was working on huge things such as the $6.6 billion contract, which at that point would not have mattered. It sure as hell matters now. I hope I explained myself clearly.
We should not stand for this.
I personally am going to cert most of my shares. I certed a million last week. Call me crazy. 21 times your money in 5 years from these prices. You make it back in interest in less then 2 years. Even if it takes a year or two to catch up paying the dividends, they accumulate. I think if we are not being defrauded, their is a chance that this company can survive and prosper over the next 5 years.
We still have a lot of divisions that I think are prosperous.
Most companies that defraud ussually don't go out and buy legitimate companies. We also showed on our balance sheet a lot of assets, and not just the pit. When I spoke to Hayden the other day he told me he knows mamagement knows they have screwed up in some ways. I personally think in a lot of ways. They are definately selling off businesses to streamline and they are also looking at financing to restructure some debt. If they can come out of this and hopefully a lot more humbled I think their might be a chance. They have also become somewhat more transparent then in the past. Why would they do this if they had no intention of running a legitamate company. A lot still worries me, but take a look at their organization chart.
I do not think they would go to all this trouble to aquire so many companies to just defraud. Also they I don't think they would be putting in 12 hour days either.
Our market cap is 11.5 million approximately.
I am not giving false hope, I am just trying to look at this free of emotion.
I spoke to Ron Blackburn last Thursday or Friday. He was in Texas at the time, and was working on a contract to service jet engines. He only had a few minutes, but he told me the company would be getting out a press release soon updating shareholders on everything that's going on. He told me that the company is in the process of streamlining their operations.
I spoke to John Hayden today and he told me the same thing about streamlining the operation. He also told me that he was working with two different financial outfits about restructuring some debt. He as well told me the company is going to put out a press release updating people with the direction going forward.
If I hear more, I will post.
Also I e-mailed Mike Riley last night a very lengthy letter, telling him about my concerns I had and to please call me.
I have not heard back from him yet. I also asked if he is still employed or working with the company.
This board is pathetic. Were more interested in who is going to be the next moderator instead of getting hard questions answered from management. Mommy, Mommy where is the teacher. We can't start class without the teacher. No wonder we all got fleeced.
Timetoroll
Every post that I have put out their that has had any negativity has been erased. I got into nasty private emails with shizoku and I even called Renavatio about erasing a couple of posts.
I vote for no moderator.
I can't tell you how many posts I have had erased.
A lot of them that were erased were very informative.
I would have saved investors a lot of money. I personally want to hear the negatives. They are more important as far as I am concerned. All this cheer leading has hurt us all. So many people bet the farm on this stock because we all thoght we were going to get rich from this investment including myself. I made the same mistake in 1999 and said I would nver do that again. How pathetic. That 6.6 billion dollar contract and Mike Mulshine telling me the stock is going to go to ten dollars caused me to way over extend myself on this investment. I want an open forum where free speech is tolerated.
Our market cap is only approximately 16 million at 2.4 billion shares outstanding. Getting pretty cheap if they can hold the fort togather.
Isn't this amazing.
This news was out out just a little more the a month ago.
Phoenix Associates Updates on Fuel Division Growth
Tuesday August 7, 9:35 am ET
Company's Best Aeronet Unit Projects Revenues of About $25 Million for 2007 and to Exceed $70 Million in 2008; Enters Into Bulk Fuel Market for Diesel Fuel, Gasoline and Bulk Crude Oil Sales, With the Acquisition of A.P.G., Inc.
And so on!!
Now they sell it. What a joke.
Every single trade this morning was a buy.
1,450,000 all buys
I talked with Ron Blackburn yesterday for approximately an hour. I cannot discuss anything that would be construed as private or inside info. I got repremanded by Mulshine about the post of the 250 million dollar bond. What I can say is I had a battery of questions. He answered most of them in a straight forward manner. What I can comfortably say is I highly dought we are being scammed. The answers are complex often and could not possibly be made up. I can sniff out a rat. I have been doing this for a long time. I definately do not feel we are being cheated. Komex from my understanding is very real. A contract of this magnitude is very complicated. Komex has to feel comfortable that we can deliver. The company is working very dilligently in order to make this happen. They are also working on a lot of other contracts in regards to mining from my understanding. The recomendation I have is be patient and do not worry about the daily price fluctuations. I thing those that are patient will end up being very well rewarded.
I left messages for Ron Blackburm and Mike O'Riley to call me back. They were both out of the office when I called.
It looks like someone is supporting this stock at .013
Over 3/4 of all trades today were sells and bid is only increasing. 4 market makers currently at bid. My best guess is the shorts are starting to cover or it is O'Riley and Promuto sitting at the bid. You could say market makers are accumulating a position for a run up, but that doesn't make to much sense for they most likely would drop the bid to pick up cheaper shares. Whatever is happening, it is good for us.
I am definately going to find out all infromation related to past releases in regards to this subject mentioned below. We would all like clarity on this subject matter.
"As an essential ingredient in the Company's new growth plan, its Board has approved an increased in the number of authorized shares of its common stock from 1.75 billion to 2.5 billion shares.
Under the new growth plan, it is expected that the Company's new venture partners will be acquiring a very large position in Phoenix common stock of well over one billion shares. They have committed to over the counter purchases of approximately two thirds of the amount they require, with the balance to come from Phoenix as certain acquisition are made, contracts are granted, and sales and profit projection are achieved that are attributable to their efforts."
I am a concerned shareholder following up on past press releases to make sure they keep their word.
Taken from past releases
"The first series of new acquisitions are a group of strip coalmines in the southern U.S. These mines are currently in operation and profitable. These mines have huge deposits of coal (non-sulphur) and limestone, which is the sandwich material between coal veins. Phoenix will have these huge amounts of limestone shipped to sites in the gulf region for use in rebuilding projects"
As part of the Company's agreement with its new venture partners, many companies they currently own will be placed into the Phoenix group of companies to allow growth and expansion far beyond the current abilities of Phoenix and far beyond the physical boundaries currently supplied by Phoenix.
I have known Ron Blackburn for years. I have spoken to him on an almost weekly basis. I have gotten to know him very well. He always tells me I am one of the few shareholders that he like to talk to. I am going down in two weeks to personally visit the company and meet the crew. He always tells me things will come clearer as time progresses. The recent dillution from my understanding is to O'Reilly and Promuto. The cap is going to be 2.5 billion on this company. 700 million in total will come to O'Reilly and Promuto for contracts and companies that they merge into Phoenix. All this was clearly explained in past press releases. I did reconfirm with Ron last thusday. This still stands. Nothing has changed.
I was told that there is a connection between Lafarge and Komex. I promise that I will get to the bottom of it this week. I plan on having extensive talks with O'Reilly, Promuto, and Blackburn this week.
Another thing I'd like to share.
A shareholder I know called the company on Friday to talk with O'Reilly. He asked the receptionist that he would like to speak to O'Reilly. O'Reilly picked up the phone, and also got Promuto on as well in a conference call. The general gist is that they told this shareholder that they are committed 100% going forward and plan on building a very large company. I've been told that O'Reilly plans on leaving this company as a legacy to his children. I also know that O'Reilly's father is very involved in making this happen for his son.
Another thing to note. I heard that a large mutual fund has contacted the company in regards to potentially investing with them. They were able to confirm to the company that there were well over a billion shares naked shorted on this stock. I also heard the shorts are very scared in regards to this newest announcement. I have always said that there was a very large naked short on the stock. It is very nice to see it confirmed. There are too many times that I've seen this stock have 80% buying on a given day, and not go up. Something very interesting I noted last week. The stock had 80% selling on at least one day last week and did not go down. The only possibility is the shorts are starting to cover or O'Reilly and Promudo are sitting at $.13 buying unlimited shares. Either one totally satisfies me. By next week, I think the picture will start to unfold. The naked shorts on this are going to get hammered. Its going to take them weeks if not months to cover. Enough buying pressure will blow this thing wide open.
Let's hope the company stays on track, and keeps painting a clearer picture for us longs, and for people who are sitting on the sidelines to get more involved.
I had a long talk with Ron Blackburn last Thursday. It was at least 40 minutes long. Everyting seems fine from what I can tell in regard to Komex. One of the things they had to do was come up with a 250 million dollar bond for Komex. It got submitted last week. I know that Prumuto and O'Reilly had to do a lot of work for the issuer of the bond. They had to personally co-sign the bond. Phoenix had to pay for the bond which I think was around 100,000 and the other two had to collateralize it. Promuto from my understanding is also very wealthy as well. I had him estimated around 30 mill, I think 200 mill is a closer number.
I know that the middle of the month which is only about a week away, is going to be significant. It is my understanding many of the coal mines that were discussed in past press releases should be acquired. These acquisitions are going to be significant, because they are going to provide a lot of the lime needed to fulfill the large contract with Komex. The company did not want to pre-release until they went through the regulatory approval. I heard from numerous people that this should not be any problem. More of a formality step than anything. Ron told me that the picture for shareholders is going to become much clearer starting that time and moving forward. He seems very excited about everything that is going on.
He also told me that that they are working on another very large contract, which is potentially bigger than the one they announced. I've heard from other shareholders that this could be related to Lafarge, Komex, and the O'Reilly family. I hope this is true, because they are the largest mining company that I'm aware of in this space. They trade on the New York Stock Exchange and their market cap the other day I noticed was 26 billion. http://finance.yahoo.com/q?s=LR
I am going to try to speak to Promuto, O'Reilly, and Blackburn this week. I will try to give an update on what I learn.
Does anyone want to take a guess at what we are going to buy tomorrow?
I heard the all stock transaction was done with Prefferred 1 shares.
If this is not classic manipulation
.02 3,006,800 bought
.0195 425,000 sold
.019 154,000 sold
Stock is now .18 did .19 ask
If this is not proof, the nothing will convince people.
2,945,800 .02
100,000 .019
Well lets see if we have shorting this morning?
2,431,800 share bought at .02
100,000 shares sold at .019
Stock does not move up.
I have repeated this scenario in about 50 posts over the last year.
Ussually when I do they see that I posted their obvious shorting and then they start to hit the bid to not make it look so obvious.
I also asked for a cert 3 weeks ago and e-trade still has not pulled the shares out of my account.
This is the longest I have ever waited from them?
This news definately sealed it for me.
I am definately retiring 20% or more of my holdings.
Probably will buy a bit more.
Is Phoenix ramping up for this huge Komex contract?
Infromation taken from newest releases
Mike Riley "One of the groups has been in mining for over a hundred years and is one of the largest mining companies in the world"
Vince Prumoto has interests in mining and trucking in the northeastern United States.
Mr. Alonzo added, "Together, with these two groups, our company is expanding its mining and trucking operations beyond its current gulf coast area and will be greatly expanding the capacity of its Murphy Sand and Gravel site in Pearl River, LA. Because of the high level of technical competence and experience in mining being brought into Phoenix by these groups, the Pearl River site will be mined much deeper than previously expected, therefore yielding vastly larger amounts of product than previously thought possible."
Phoenix indicated that numerous mining deals that the company was incapable of acquiring on its own are now not only possible, but are now being completed.
The first series of new acquisitions are a group of strip coalmines in the southern U.S. These mines are currently in operation and profitable. These mines have huge deposits of coal (non-sulphur) and limestone, which is the sandwich material between coal veins. Phoenix will have these huge amounts of limestone shipped to sites in the gulf region
As part of the Company's agreement with its new venture partners, many companies they currently own will be placed into the Phoenix group of companies to allow growth and expansion far beyond the current abilities of Phoenix and far beyond the physical boundaries currently supplied by Phoenix.
The Company indicated that production will be ramped up during the balance of 2007 with full production by January 2008. Additional equipment is being purchased for crushing, excavating, and blending the blended aggregate products so as to meet production schedules.
Phoenix will be releasing equipment purchases, other acquisitions currently underway to increase current capacity, and also required transportation acquisitions to properly move the massive amounts of product to ports for export.
Phoenix has begun purchasing crushed stone facilities to feed these products for processing into specific materials needed in building levees and concrete for roads, bridges and other construction work. The first of these purchases was Southern Concrete Crushing, as previously announced.
Another area of Phoenix expansion with the new venture partners will be in bulk fuel sales (gasoline, diesel fuel -- both on road and off road, and possibly aviation bulk fuel). Phoenix is closing on its first bulk fuel storage facility acquisition next week, a facility located in southern Mississippi. Phoenix expects a very strong move into this market over the next few quarters. Which we completed.
Current fuel requirements for operation of equipment at the previously mentioned mining and crushing sites exceed $500,000 every two weeks. The Company expects to cut that cost by about one third by supplying its own fuel.
Phoenix would like to thank the O'Riley family, the Promuto family and others, as yet unnamed, for making these deals possible for Phoenix Associates at this stage of the company's growth.
It sure sounds like they are ramping up for some serious business.
1,320,000,000 a year in revenue
If we can get 10% in gross profit which would be 110 million
a year that would be .044 cents a share. Times a pe of 10
That would put this stock at 44 cents a share just on this contract alone.