Fiz is right on the possible timeline- from march 2005
Phoenix Associates Land Syndicate Press Release
3/29/05
Covington, Louisiana - Phoenix (PBLS) is a pink sheet company with over 2,600 stockholders holding less than 245,000,000 shares, with $300,000,000 in assets and a $35,000,000 in house financial statement. The Phoenix group of companies has no convertible debt and reported $2,000,000 of income in each of the past three years.
Phoenix began as American Western Resources in the State of Delaware in 1957. American Western Resources, Inc., changed its name to Ro-Mac-Gold, Ltd., in 1978 and moved to Nevada. In 1996 Ro-Mac-Gold was purchased and restructured into Phoenix Associates Land Syndicate and remains a Nevada corporation.
Phoenix Associates Land Syndicate is anticipating significant funding late 2005 from First Global Securities located in Pasadena, California and said funds will be used to further expand each of its divisions.
If you read this as it is written-PBLS is contractually obligated to begin this month and finish by 2007- later PBLS stated that they have accelerated the process but personally I wouldn't expect the filing this year but an update would be real nice.
On 2/25/05, Phoenix completed negotiations to settle $3.5 million in debt.
Based on the debt settlement agreement, Phoenix has contractually agreed to begin the process to become fully reporting within fifteen months and has contracted to finish that fully reporting process within twelve months thereafter.
Phoenix stock is grossly under valued because the company has not promoted its stock until the debt settlement agreement was finished
I think PBLS could certainly release some numbers from progas and midsouth and Murphy but they may be waiting for the whole accounting .
And in truth I don't think the filing will be a real positive when it comes but I think there is room for the pps to run higher as facts become known about the new and old operations- happy trading all. All IMO ofcourse.
