The real point is that if they are buying assets that were once on the books of the acquired company for 80 million more than what pbls paid, they are buying UNDERPERFORMING ASSETS, Lets look at this logically, what comapny in their right mind would sell their company on the cheap to a public company that doesn't report, will not say how many shares are out, (how can an acquired comapany not care what the share structure is? My only answer is that the acquired companies had no one better to sell to) ..The other point is that if the street believed pbls for a minute, there would be have been a plethora of investment banking firms lining up to get them to where they need to be, ie. a reporting company. Instead of hiring an investment baking firm to do this, we get an IR department (1 guy) that has a serious case of the kool-aids. I have never seen an IR department as imcompetent as this one is.
This is MY THEORY. 1- the companies they bought are real, but are performing nowhere near the level that mgt has talked about.
2- I believe that PBLS has mismanageged their capital structure to a point that they cannot be fully reporting due to many violations of SEC rules, which would place them in serious criminal and civil jepordy. (selling unregistered shares to non- qualified investor,making misleading and innacurate announcements, ie. claiming bestjets is a wholly owned subsidiary, making outlandish revenue projections, etc.)
You guys can visit there all you want, but you never get to see the ONE THING we all need to see. No one can ascertain if a company is profitalbe by just visiting their operations. If they cant get a 10-k done, How bout a look at their tax returns?
3- Talk of a dividend is just that- TALK.
I am totally bagged in this stock, as many of you are. I am trying to show how bagged we are , and create some pressure on management. VISITS TO SEE A BUNCH OF DUMP TRUCKS SHOULDN'T CUT IT ANY LONGER
