Z - Again, not true. Where is Trump's name on the company? Sobe Life publishes Trump magazine & Poker Life magazines. Your implication that because the Trump name is associated with the company it is automatically destined for greatness is a bit overzealous to be kind. Check out TRMP. Here is an excerpt from the latest quarterly for PPBL, encouraging but not rosy:
As of September 30, 2006 we had cash on hand of $150,502 and barter credits of $1,287,648. This cash and barter credits is a result of our bridge financing in April and May 2005, Sobe Life, LLC's revenues, and the private placements of our
Investment Units in July through October 2005 and providing custom publishing services for PartyLife and World Player magazines. The bridge financing in April and May 2005 consisted of 8% convertible promissory notes that we issued in the aggregate amount of $560,000. The notes matured in November 2005 but are convertible at anytime at the option of the payee into our common stock at the rate of $.25 per share. One payee holding a $25,000 note requested repayment when the notes matured and we paid him back in full. All of the remaining holders have not requested repayment. We are hopeful that they will convert their promissory notes into our common stock.
We expect that the cash we have on hand will permit us to continue to operate for an additional 12 months based on our anticipated advertising, circulation and custom publishing revenues, as well as our anticipated expenses over that period.
The continuing development of our publishing business will be dependent upon our success in attracting advertisers and maintaining custom publishing projects. Future advertising may be affected by events and trends such as general economic conditions, alternative means of advertising and the circulation of our magazine.
Sobe Life, LLC has recognized revenue upon the publication and distribution of each issue of Trump Magazine for which advertising has been purchased and billed. At this point, collection is reasonably assured and Sobe Life, LLC, Poker Life Magazine, LLC and Premiere Publishing Group, Inc. Prepayments and/or deposits on advertising to be published in future issues are deferred until the publication and distribution date of the respective issue but many accounts pre-pay for advertising. In the normal course of business, Sobe Life, LLC, Poker Life Magazine, LLC and Premiere Publishing Group, Inc. extends unsecured credit to virtually all of its customers. Sobe Life, LLC believes it will be able to collect all advertising revenue, so it has not provided an allowance for doubtful accounts. In the event of complete non-performance, the maximum exposure to Sobe Life, LLC is the recorded amount of trade accounts receivable shown on its balance sheet at the date of non-performance.
For the period from May 1, 2004 through September 30, 2006, we have incurred a net loss of $3,598,621.
AI
