PBLS news...
nternetWire) Phoenix Rescinds Stock Buy Back Program
NEW ORLEANS, LA -- (MARKET WIRE) -- 08/11/06 -- August 11, 2006 - Phoenix Assoc
ates Land
Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that effective
August 15, 2006 it is rescinding a stock buy back program that was
announced on June 19, 2006, a stock repurchase program under which the
Company had offered to repurchase up to one hundred million shares of its
common stock at a price of $0.03 per share.
The Company indicated that it will honor the buy back of shares at $0.03
per share that are sent to the Company in certificate form via "Certified -
Return Receipt Requested" mail that is "Post Marked" on or before August
15, 2006, as per the detailed instruction contained in the Phoenix news
release of June 19th. Any certificates that might be received by the
Company that are post marked after August 15, 2006 will be returned to the
sender.
The Company further indicated that it is now in the process of an open
market buy back of its common stock, up to one hundred million shares when
combined with the shares that may be repurchased under the above program
that is being rescinded.
Forward-Looking Statements
This press release contains statements that are "forward looking" and are
made pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995 and federal securities laws. Generally, the
words "expect," "intend," "estimate," "will" and similar expressions
identify forward-looking statements. By their very nature, forward-looking
statements are subject to known and unknown risks and uncertainties that
may cause our actual results, performance or achievements, or that of our
industry, to differ materially from those expressed or implied in any of
our forward-looking statements. Statements in this press release regarding
the Company's business or proposed business, which are not historical
facts, are "forward-looking" statements that involve risks and
uncertainties, such as estimates and statements that describe the Company's
future plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by their
very nature, they involve inherent risks and uncertainties. Actual results
in each case could differ materially from those currently anticipated in
such statements. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they are made.
For More Information Contact:
Mike Mulshine
Osprey Partners
(732) 292-0982
osprey57@optonline.net
