Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

Niko - Oh, I didn't agree with MrP at all and Midas could only see the July to Nov decline as dumping shares by the company. Sure it got tiring and I'm mostly glad the mods handled it correctly, but at least it made us really evaluate/think about why we invested in the company. Like another poster said, I think a lot of "pump" makes a board suspect to solid new buyers.

Gbb - Agreed on the Preferred. It's a steal of a deal if you believe the company. I do, but don't have a large enough position based on my strategy to participate. If I had a larger position, I would convert at least half to Preferred. My thing is I am in this for an absolute home run. I hit base hits with Real Estate all the time (praise the Lord) so I can afford to "let it ride" with PBLS.

To all, having a gagged TA does make you wonder what the true O/S is. One can draw 2 conclusions: it's higher than 815M because they sold into the Katrina spike and so they want to keep it hidden (irish's & seeclear's position) or it's 815M of lower and they don't want to "waste" that precious info on a PR before they are ready to PR audited numbers (FMI's and others position). I think I've drank too much cool aid now to not go with the later. Phoenix think NSS is real whether we do or not. So they hold the most valuable info until they are ready to move off this exchange IMO. My last conversation with RB left me feeling that they feel helpless sometimes to increase the pps with their PR's given the corruption in the market. I commented by stating that what the market needs is more transparency from teh company. I just don't think they understand that there is a breakdown between what they feel is being transparent and what we feel is being transparent. I don't know, but I continue to hold. I still am not ruling out a move to a foreign exchange where shorting of any kind is completely prohibited. Wouldn't bother me at all.

Okay, back to crunching numbers...

Ren
IMO