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Uhhhh....wow....for once in my life I'm almost offended. Who would dare accuse my of being so bored as to ever watch a Notre Dame game? I'd rather get stuck watching "The View" with my wife!
Next thing you'll tell me is that the Big 10 is a power house conference and the PAC 10 gets no respect! :-0
I'm stubborn. :)
And even if I give up on the company, I won't give up on trying to bring balance to the board. I know that some people have to lose their money, but I don't like it to happen on my watch.
Ren
Yep, some people got the divy checks and some people didn't. How they determined who got what, I don't know. Rumors say that more divies are coming this week and next. Time will tell.
"There is a master plan here. I'm just not sure where we fit or need to be at this point." That's the scary part.
Pro-gas isn't on it. That was my confirmation that Pro-gas was gone. As to the Preferred's holding weight...they hold no weight if the company files bankruptcy.
Option B? Pray.
Option C? Wait until November and keep playing the swings to recoup initial investment.
Why use BestAero Revenues that represent close to 30% of PBLS revenues to bolster a proforma that claims it "includes projections from current acquisition targets" that is from mid July 2007?
None of this makes any sense unless its a) a shell game or b) incompetence from management IMO.
Ren
Midnight is end of November when the 2nd preferred/common conversion offer expires. That's D-Day for me. No more extensions.
They will be answered when the "PBLS clock" strikes midnight.
You're leaping into a pinksheet stock, albiet one that has shown great transparency to its shareholders so far, as well as a seemingly verifiable product and management team. But its a pinksheet stock none the less and no one should forget that until an uplisting is a thing of the past.
My "20 Questions" for IR...
1. What happened to Paul Alonzo?
2. Why is it that Ron is the one who handles share holder relations for the company?
3. Why does every poster who claims special relationship/information get information that ultimately originates from Ron?
4. Why does Ron weild so much authority at PBLS given his mysterious past?
5. Why isn't John Hayden on the Org Chart when he has been operating as a "face" for the company for over 12 months?
6. Why does the company keep publishing PR's surrounding deals that aren't completed or even close to completion?
7. Why does the company seem to hype one business unit in a PR, then go quiet on it, then sell it, then PR the sell, then tell investors that it wasn't a profit center and it's good to have sold it?
8. Why are we having liquidity issues after 2 years of acquiring companies?
9. Why are we still buy, buy, buying with cash/shares if we are having liquidity issues?
10. Why was the Preferred/Common exchange extended if Divy checks were clearly going to be difficult to fund?
11. Why does the company say they are not having liquidity issues to some investors and not to other investors?
12. Why hasn't PBLS disclosed the $4M Promissory Note that pays 24% to certain investors with funds used to outfit Best Jets and proformas that includes huge revenues from BestAero?
13. Why is that Promissory Note collateralized by the Best Jets parts inventory that was supposedly sold as the "Other Income" line item in 2006?
14. Why do certain posters purposedly leak rumors/information about Hedge Funds and Institutional Money looking at PBLS and yet IR knows nothing of it?
15. Why do certain posters have access to the company/Ron in a way that is clearly insider trading/manipulation of this board?
16. Why is IR cut out of the loop by the company?
17. Why would Promuto/Reilly not just buy a shell company and start from scratch building a company if Murphy was in jeopardy all along? A clean OTCBB shell can be purchased for less than $1M.
18. Why won't they inform shareholders of the "bigger picture?"
19. Why are they so hostile to shareholders who simply want accountability from the company they own shares of?
20. Why does it surprise the company that individuals who have a stakehold interest in their company would want to hold them accountable to their own proclaimed timelines and projections?
I'd be happy enough to just know what happened to Paul Alonzo. He's one of the biggest reasons I bought into PBLS. However, he certainly has surrounded himself with individuals will a less than spotless history and questionable affiliations (not including Reilly/Promuto who I know nothing about really).
Ren
PS Not selling. Not buying. Not angry. Not satisfied. Just have been wanting to openly ask these things for a long time now.
Most have figured out by now that most of what PBLS PR's is a) not finalized b) not conservative in its financial estimates and c) seemingly disjointed (lacking synergy) with other purchases because d) they don't provide a clear picture of the long-term plan of the company. This has been their M.O. as long as I have followed/owned the stock. Now the reasons why they operate this way are varied and I'll let you make up your own mind.
Ren
Be careful of the company diluting on that one. I sold for a small loss after watching eod L2's for a couple of weeks.
I am trying not to believe the story on any of these pinks, but I really don't buy the story on ICBM.
It's good to be green...if just for a while...
Based on documents that John Hayden was using to raise $4M to outfit Best Jets, the internal "revenue and expense projection" for BestAero was $27M in Revenues, $24.03M in COGS, $1.6632M in Expenses for a 2007 Profit of $1,306,800.
2008 Numbers for BestAero were given as $68M in Revenues, $60.520M in COGS, $4.1888M in Expenses for a 2008 Profit of $3,291,200.
Definitely not a cash cow but something they could definitely use to pad the Revenue numbers as they did with Pro-gas IMO.
Ren
Agreed. It was just a confusing line as I hadn't heard of Louisville State before and to give them 16 against a good Gamecocks team had to be a mistake. Thanks for the clarification.
Right now I am looking at Michigan State, Ga Tech, Kentucky and Utah...I haven't made my mind up yet though.
Amazingly tight trading range after 11am.
OT - Wouldn't take it after you put it in the pill press? That stinks. We just reordered. Harley dog has never looked better. I can't keep the babes on the beach off him...
You might try just some flax seed and/or fish oil.
This line can't be right...Louisville St -16, South Carolina +16. It seems to be across the board at docsports.com...
Thanks Rally...1 less call to make.
Thanks Niner.
If anyone else calls, please be brief and polite. Actually, please, don't everyone call.
Rally, did you call the T/A yet?
Ren
Then we agree. I'll hold for now.
Couple of reasons...
1) bounce players (I'd say 50-75% chance)
2) longs averaging down (I'd say 25-50% chance)
3) company buying/partner buying? (I'd say 0-0% chance)
I'm not averaging down this time, though the last time I bought at these levels it was the only good PBLS trade I've made...what do I know.
Ren
I count 2 not taking into account the Katrina pullback. Do you see 1 I don't see, or do you see one coming "soon?"
I guess June 15th could have been 2 and this could be 3...
At least there appears to still be a gap to fill. And I might play it to help move closer to free shares/recoup of initial investment.
I encourage everyone who has spoken to or received email from Ron Blackburn, John Hayden or Paul Alonzo to keep those safe. I have several juicy emails about "you're crazy if you sell," "this is worth a $1 at least," etc. I also know that a few of you have recorded phone conversations. Keep them at hand. I also have several emails from "insider" posters on this board telling me about what Ron/John told them etc etc, asking me to leak the information to the board (which I can show I didn't do). I don't delete anything.
Just my opinion for the days ahead. The clock is about to strike midnight for PBLS with me personally.
Ren
No problem. I'm obviously a little upset about all of this. I really feel for anyone that bought more of this than they can afford to lose. It's going to take some small miracle to get this thing heading north now. The pit was about the only credible asset and even it was often challenged by the likes of the mthead's of the world.
It's sad that manipulators win (several posters on this board, mods of other stock picking boards, companies etc), but that's what makes the pinks the pinks. In fact, most of the ones who make money in the pinks buy into manipulating others. Very few are good enough to spot a real play. I just can't justify that, but I do like to play.
My problem is that I am getting bored with the "rinse, repeat" cycle that Tedwitt clearly points to with PBLS. I do this because it's fun. Well, this is getting old after almost 2 years. It's almost not fun anymore and when it's no longer fun I will move on (and probably attach my name to a lawsuit).
Ren
Please keep it on topic this morning. I know that some are feeling a bit riled up (I'm one of them), but either take this to a PM, another board, email or schedule a date or something.
Ren
Please show me where Pontchartrain Materials is mentioned in the St. Tammany documents? if I overlooked it, I will certainly apologize. After all, the court transcripts are 1000's of pages that cover almost 5 years. I never claimed to have access to Louisiana Supreme Court docs.
I came to my decision based upon the judge ruling against United Soils as a sub-lease based upon court transcripts. I came to the conclusion based upon the last 4 rulings of the St. Tammany judge which were all in favor of Phoenix.
What I didn't appreciate is what felt like an implied accusation in your post. Half the people here want to blame the mods for manipulating this board. Is that what you are trying to insinuate that I did? If not, then I apologize for being wrong in my conclusion.
Ren
Primarily because the sub-lease claim was centered around United Soils, which was an owned subsidiary of Phoenix. The St. Tammany transcripts never mentioned Pontchartrain Materials and the judge had ruled against all the motions filed by Mitchell and Furr. The last thing to be resolved was Mitchell's claim that Phoenix was inaccurately accounting for tonage at the scales. The court had asked them to provide documentation for their accounting and that's when I got bored with the case and stopped reading all the documents. After all, no one else here was. IMO, and I'm not a lawyer, there was no accusation on the St. Tammany level that the court was in agreement with. They shot down the United Soils sub-lease. They shot down the eviction notice. They shot down the increase in the bond. They had delayed the case for 18 months. That's where I came to my conclusion.
Why does it matter to you what my opinion is? Am I an evil manipulator of this board because I was wrong in my conclusion? I still don't think they are going to lose the case. I still believe that they will keep mining while the appeal process continues. I still believe that they have a strong case for a counter-suit with Mitchell and Furr.
Ren
Agree about the Fed tweaking everything. My bigger concern is the government bail out of those in foreclosure. Mortgage brokers definitely need more oversite, but people need to be held responsible for their own decisions, however bad those decisions might be.
Scary thing is that Wall Street and especially the bond market have already priced in the rate cut. If they don't cut now, mortgage rates will bounce back into the mid-6's which would be a gut punch to housing. I think the Street is trying to back the FOMC into a corner. I expect a .25% cut tomorrow with some very gentle concerns given about inflation. Greenspans remarks from the weekend have already impacted bond pricing. Bernanke is cut from a different cloth though. He'll mention inflation but more softly than Greenspan. Fed cuts rates by .25% and mortgage pricing remains unchanged from high 5's to low 6%'s...that's my WAG.
Anyone know of any stocks related to credit services, credit repair etc? Seems like a good fundamental play with the housing/mortgage market the way it is right now...
GOOD ADVICE, JAKE. THANKS.
DON'T PLAN ON EVER BETTING FOOTBALL GAMES BUT JUST CLARIFYING HOW IT WORKS. AND AS FOR POKER GAMES...WE PLAY LOW-LIMIT STUFF WITH LIKE A $20 BUY-IN MAX. TYPICALLY YOU CAN BUY IN ONCE MORE BUT THAT'S IT...
Thanks. I still can't get over my redneck superstition though and so can't pick my Gators...
SO IF I PICKED ARK BECAUSE I DIDN'T THINK ALABAMA WAS GOING TO COVER, AND ALABAMA WINS BUT DOESN'T COVER, THEN I WIN?
DOES THAT MAKE SENSE?
Well...
- FSU actually had a football team show up for once.
- Ark lost but Alabama didn't cover, so is that a loss, win or push as I was playing the 4 point spread?
- UK actually beat Louisville in a great game...
So was I 1 for 3, or 2 for 3? Some professional betting junky help me out here...
How about them Gators though! Away at Ole Miss then Auburn at the Swamp. Looks like our next big game is Oct. 6th in Baton Rouge...
Scottrade Elite offers L2's for pinks too.
Yep. That's them. Scary thing is they are the largest land owner in North America that's not based in North America and no one has ever heard of them.
Here's a little extra...
Why do you think the US government gives us a tax break for the interest we pay on our primary residence? Do you really think it's to encourage home ownership? Of course not! It's to encourage Americans to stay in a debt position to help offset their income taxes so they won't focus on how much taxes they are really vunerable to paying. This debt position keeps them at work, typically both spouses, and production for the country stays high as we pump out goods and services for the world.
Now in Australia you can't write off the interest from a mortgage on your primary residence but can on an investment property. Exactly opposite of the USA. What does it encourage Australians to do? It encourages them to pay off their primary home first and then encourages them to buy rental properties. Again, this is part of the major reason that Aussies pay their house off in 9-12 years.
Americans are worrying about a "fixed rate" and "refinancing." Aussies are worrying about paying less interest over the life of the loan. They get one loan. They pour all of their resources into it. And they pay it off. Wow, that almost sounds like what Americans used to do...
Ren
PS I am not moving to Australia, but I am a "financial conspiracy theorist."
Yep, but most people need to put that $100 in savings for a rainy day so they don't. Or they end up spending it on the newer car, bigger house.
But with an open-end mortgage you can pay in that extra $100 and get it right back whenever you need it. Macquarie Mortgages come with a check card and check book. You can walk up to an ATM and withdraw cash just like from your checking account and you just pay interest on your average monthly balance. There are no extra fees or higher interest for cash withdraws. In Australia, you use your mortgage (Asset Manager Account) as your checking, savings, money market and mortgage all combined.
Obviously the fact that you can access the equity in your home so easily is exactly why I would put less than 5-10% of my American clients in a mortgage product like this. American's don't have enough financial discipline and they always live right on the edge of beyond their means.
Ren