Phoenix Associates Land Syndicate (fka PBLSQ)

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Do your DD. PBLS did not promise to release AF by June 15th. I am not trying to defend PBLS management but it is much better than getting a skull and bone sigh next to PBLS symtol in August. I would hate to see that.

Other non-SEC Filers

* Who is Eligible?
Non SEC-reporting companies quoted on Pink Sheets that are able to conform to Pink Sheets' Guidelines for Providing Adequate Current Information. Companies in bankruptcy proceedings are not eligible.
* What is Required?

1) Disclosure - The company must publish disclosure that complies with Pink Sheets Guidelines for Providing Adequate Current Information (PDF) on the Pink Sheets News Service (available through www.OTCIQ.com).

2) Attorney Letter - The company must publish a quarterly letter from an attorney stating that the issuer's disclosure constitutes "adequate current public information" concerning the Securities and the Issuer and "is available" within the meaning of Rule 144(c)(2) under the Securities Act, (ii) includes all of the information that a broker-dealer would be required to obtain from the Issuer to publish a quotation for the Securities under Rule 15c2-11 under the Securities Exchange Act of 1934 (the "Exchange Act"), (iii) complies as to form with the Pink Sheets Guidelines for Providing Adequate Current Information. The letter must also identify the person responsible for the preparation of the financial statements and state that the attorney has personally met with management and the majority of the directors of the Issuer to discuss the Information. For more information on the Attorney Letter, see Pink Sheets Guidelines for Attorney Letters with Respect to Adequate Current Information (PDF).
http://www.pinksheets.com/otcguide/Current%20Information%20Attorney%20Letter%20Guidelines%20and%20Ag...

3) Transfer Agent - The company must have an SEC registered transfer agent.
* How Does A Company Get Included?
Companies must Subscribe to OTCIQ.com in order to post required disclosure on pinksheets.com. Pink Sheets will verify that a current attorney letter regarding completeness of disclosure has been posted within 45 days after each quarter ended and within 90 days after each fiscal year ended. If such letters have not been posted, companies will be placed into the "Limited Information" or "No Information" categories.
* How Much Will It Cost?
There is an annual fee of $1500 for OTCIQ. There is an additional annual fee of $1500 to process the quarterly attorney letters.


From the PBLS PR:

Pink Sheets has recently significantly expanded the information it requires under the category of "Adequate Current Information" from its listed companies. The goal of Pink Sheets is to provide shareholders and the investing public with a clear and complete understanding of the nature and operations of the Company's business. Including the products, services, assets, properties and facilities it owns and/or utilizes and its prospects for the future. Balance sheets and profit and loss statements are also required.

Mr. Pratt indicated that he believes the new "Adequate Current Information" requirements will prove to be of great benefit to Phoenix. The filing of the completed data by Phoenix will accurately portray the Company's past growth and its continued and increased growth for the future. Once Phoenix discloses such Adequate Current Information via Pink Sheets, the Company must keep the information current on a quarterly basis.