Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

Let's start this first date over, okay?

Share structure based on PR's. And boy I wish I could pump back to AT LEAST break even I guess with predictions based on good old fashioned FA. No offense intended, but read this book, it will really help... http://www.amazon.com/Interpretation-Financial-Statements-Benjamin-Graham/dp/0887309135/sr=8-1/qid=1...

Sorry if you feel like I chastised you. I post an opinion and I feel like you go on the offensive for something I was clearly in agreement with you on. Can we be friends instead? I really do have decent personal hygiene. Here's some more FA based on the UNAUDITED numbers given in 2005 (I am certain I made a few mistakes, I typically do). As soon as 2006 is released I will provide analysis of improvements or weaknesses.

BALANCE SHEET 2005
ASSETS
Current Assets
Cash & Cash Equivalents $6,646,963
Accounts Receivable - Net $1,273,181
Inventories $9,525,500
Total Current Assets $17,445,644

OTHER ASSETS
Investment $9,633,375
Prepaid Expenses $102,296
Goodwill $9,632,540
Oil Reserves $0
Land Lease(s) $1,401,265
Total Other Assets $20,769,476

FIXED ASSETS
Buildings $728,000
Land $225,000
Building Improvements $25,275
Machinery & Equipment $2,309,398
Furniture & fixtures $157,965
Leasehold Improvements $18,527,000
Mineral Reserves $47,550,000
Vehicles $275,531
Less: Accum depletion ($13,314,000)
Less: Accum depreciation ($6,225,277)
Total Fixed Assets $50,258,892

TOTAL ASSETS $88,474,012

LIABILITIES & SHAREHOLDERS EQUITY
Current Liabilities
Accounts Payable $5,965,274
Note Payable - short term $500,000
Accrued Expenses $1,499,365
Total Current Liabilities $7,962,639
LONG-TERM LIABILITIES $2,191
LONG-TERM DEBT $0

SHAREHOLDERS' EQUITY
Stock $9,499,384
Paid in Capital $61,888,642
Unrealized Market Gain/ (loss) ($27,363)
Retained Earnings $9,146,519
Total Shareholders' Equity $80,507,182

TOTAL LIABILITIES & SHAREHOLDERS' EQUITY $88,474,012

Gross Margin 5.54%
Operating Profit Margin 3.90%
Net Profit Margin 4.27%
Expenses in Relation to Revenues 96.10%
Working Capital $9,483,005
Current Ratio (2 is standard) 2.19
Quick Assets Test/Acid Test (1 is standard) 0.99
Capitalization $80,507,182
Debt-to-Equity 0.0%
Book Value $80,507,182