You forgot such a big part:
Paul Alonzo, Chief Executive Officer and President of Phoenix, states, "We believe that at current prices, our stock is being valued at a fraction of its true or real value. Along with our board, we are in agreement that the recent trading price of our common stock does not adequately reflect the value of our Company. Our overall gross revenues have shown substantial growth, now exceeding $250 million, unaudited, as a result of the multiple acquisitions we have made, and we continue to execute on our solid business plan. We intend to continue to add strategic companies to many of our divisions, and are extremely pleased with the continued and successful growth of our Oil and Gas business."
Phoenix plans to continue its stock repurchase program, and will follow its previous strategy of buying through its brokers and through private purchases of non-restricted and restricted Phoenix common stock.
