Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

I prefer "Mr. Would-be Self-Proclaimed Guru." ;)

Great post. I am also of the wait and see mindset. Been in since June '06 and started with a $15K investment in a pink (which is large for me because I hate stocks pretty-much all together...Real Estate is simpler to manage risk/reward). Anyway, rode it down to .006 as my wife just pointed out. So I guess I can ride it out again if need be.

The only thing I am truly upset about right now is three-fold...

First, these boys and their PR's. How about some wisdom? How about hanging the bar a little lower and surpassing it instead of hanging the bar ridiculously high and then always failing? How about saying that Revenues/Earning will be in the $150M range for 2006? How about saying that we want to set a mark to grow 20% a year but work to do 50%? Be smart about it. It was the value of the Murphy Pit pr way back when that landed them in the lawsuit to begin with. Mitchell and Furr started licking their chops over that one.

Second, it's the feeling that someone knew about the O/S increase and started selling hard Wednesday. Hey it's the business world. Information gets leaked, but that still doesn't make it ethical or legal. Thankfully, in my world (real estate), insider information is legal and how you make money. Mostly, it's the fact that I can call IR and they don't know much because the company doesn't tell them anything. BUT, I can call Ron and get him talking and the next thing you know, I know more than IR. That is simply a recipe for disaster. Tell IR more. Answer investor phone calls to the head office less.

Third, HIT YOUR FREAKIN DEADLINES. No more "soon" or "very soon" statements. And as for date-certains...you're operating a multi-million dollar conglomerate and if you say June 15th. You better have the uploaded by the 11th to make sure you GET IT DONE RIGHT, and then you tell pinksheets to sit on them until Friday. If I screw up a deadline in my business it can cost me or my partners millions, and I'm not running such a "professional" shop as PBLS is supposed to be.

For me though, I WILL HANG TIGHT though I can see a nasty Monday trading-wise. Might buy more, but probably not. Would only do that to trade the bounce that is certainly coming. But Book Value puts us significantly higher pps-wise as some posters have pointed out. AND, the 1.75B is a bit fishy to me on the pinksheets site. You telling me that they just happen to have sold such an exact number of shares? It's confusing I know, but we really don't know anything. We haven't even read the reports yet. And even if they did FULLY DILUTE TO 2B, we would still sit under value. It's just that these guys absolutely shredded their credibility again and that's what truly hurts us.

I expect an increase in the A/S if this 1.75B count is true. I still don't know how I feel about that. But now if they keep the TA gagged from this point forward even with the quarterly reports, well boys, that might be it for me. I hate stocks anyway and do this because its fun. When it's no longer fun, I'm out with my core shares and trading shares and moving onto something else.