Phoenix Associates Land Syndicate (fka PBLSQ)

[LowFloatGoat]

midas, given that becoming fully reporting was part of the deal, I am led to believe that shares must have been involved. If the lender didn't have shares then why would they care if PBLS was fully reporting?

My experience has been that when a loan involves shares the lender will short the stock to hedge the value of shares. At $.01 it would take 350 million shares to equal $3.5 million. It could be that the lender is covering their short position right now. Why would the share price fall when a short is covered? Well...if you subscribe to the theory that the share price is low because PBLS is buying shares back at the bid then you can see how short covering can have the same effect. The dealer places buy orders for hundredes of millions of shares at or below the bid to cover the short. The mm's take the price down to make money off the volume.