Phoenix Associates Land Syndicate (fka PBLSQ)

[dlaserman]

Simplify it this way:

Out of 250 million authorized shares, PBLS took 62.5 million and set them aside for conversion in the preferred deal.

If the entire common float is 800 million, and all were converted, PBLS would only need to use 4.7 million of the 62.5 million for the deal. If the float were 1.6 billion, PBLS would only need 9.4 million of the 62.5 million set aside.

So the question is why set aside 62.5 million in authorized shares if it would take 10 billion of common to convert them.

That's a very strange number to set aside unless that 62.5 can also be used for something else - I don't know if that is possible.