Phoenix Associates Land Syndicate (fka PBLSQ)

[LowFloatGoat]

Sharecount, here is what is happening--

PBLS issued enough restricted shares that they have "technically" lost a majority interest in the company. However, those restricted shares can't be sold or voted so "realistically" speaking, PBLS still has control.

PBLS is buying back shares in order to regain the majority interest before the restriction comes off. Once the goal is reached they will ungag the TA.

At the same time, you have a bunch of business owners who have taken shares of a pinkie in place of cash with the promise from PBLS that the shares will be worth much more in the future.

The restricted shareholders are exposed to the risk that PBLS defaults so they have hedged that risk by shorting PBLS and will cover with their restricted shares.

Other restricted shareholders may not have shorted but have offered to make their shares available for loan and they receive an interest payment on the loaned shares. (Brokers need to locate loanable shares before they can short, unless they allow a naked short, ie, they didn't locate or borrow the shares and so can't deliver them after selling them.) IMO