Phoenix Associates Land Syndicate (fka PBLSQ)

[sawdin]

Share Count:

I wouldn't be surprised if the amount of convertible preferred shares is somewhat higher than we expected. As someone noted, if they were used for acquisitons, there really shouldn't be much of an issue. However, I wouldn't be surprised if the number of convertible preferred shares held by Paul and his wife are somewhat higher than expected. Am I claming this? No. Just noting that I wouldn't be surprised. Will I be upset/worried if Paul & Caroline have more c/p shares than expected. Not really. If they do, my belief is that they have no intention of converting them, at least not until the promise land is reached (e.g., $1+). Also, I probably would have done the same thing! Again, I'm not saying that the count will not meet our 'expectations', just that I won't be surprised if it doesn't... and I'm not really concerned about that (at least not in the long run... sure, in the short-term the bashers will use it to bash, that's what they do).