Ok. So we are only down 7% on what I expected to be the one of the worst Mondays in PBLS history. And that's after more "soon" statements by management on PR's and no clarity on our now "transparent" financials and share structure. Wow. I must be on magic mushrooms to still be putting myself through this. And now we wait for PR's that are to help the share price...again. Someone pinch me, I'm having fun right?
Well Irish was right...expectations can be dangerous. So from this point forward I vow to remember to have the right expectations. Expect nothing and maybe I will be pleasantly surprised for a change.
A few positives. Even at 1.75B O/S, with just a P/E of 5, we're trading at or near market value based on a 2006 Net Income near $6M. And I peg the pps based on Book Value and 1.75B shares O/S near $.07. And none of this factors in the "big four acquisitions coming SOON." So who knows. I certainly can't PREDICT ANYTHING WITH THESE BOYS.
Finally, some reflections on the weekend and the weeks ahead...
I can tell you this. Some will tell you that "marrying a penny" is setting yourself up to be a bagholder. Some will tell you that the only way to win is to trade the swings, buy the bottoms, and avoid these "pump boards" and their "market psychosis." Some are even laughing at you/me/us on their little boards of "truth." They may be right most of the time, hell almost all of the time probably. And I personally play my other pennies that way. But sometimes pennies DO turn into dollars. But VERY rarely. It's a super long shot. No safe bets. Longs, you played this knowing that to be the case, and if you didn't you do need to sell or convert. But if you care to remember what brought you here, well then, my opinion is to just let it ride. You might have convinced yourself that it was a sure thing after watching day after day after day and hoping/praying/wishing/dreaming and reading and responding and researching if you dare call it that. But nothing's a sure bet with PBLS, never has been. And we've all known for some time that it's the boys at the helm of this ship that might be the biggest risk to the would-be home run. So guys and gals, don't kid yourselves.
Nothings really different risk-reward wise than it has ever been. This is still a pinky. It's still incorporated in Nevada and is based out of Louisiana, the most corrupt state in the Union (probably even more than New York and California). They have a history of bankruptcy. Of lawsuits. Of making very poor financing decisions. Of pissing off employees and blowing up business relationships. And somehow, miraculously, we posted $180M in revenues 6 months ago and a bit of profits AGAIN. Wow. Still hasn't gone bankrupt. Wow. Still some potential growth there. Wow. And sometimes YOU DO HAVE TO BUY YOURSELF OUT OF A BAD SCENARIO, as they buy, buy and buy some more. That's how I survive the "sharp down" moves in Real Estate. So for me, I'm not here on a certainty, I never was. I'm playing a dream. And if you think that you're not, you are in the wrong market. And if me being a hog gets me slaughtered, well that's what I set myself up for. I want to win the World Series of Poker not continue to just play with fake chips and my buddies. If you don't want the chance of getting slaughtered, maybe learn Coy's method or go buy a nice safe Mutual fund. This is my Apple. My Xerox. I play it safe with my day job. But with a good river card, I have a very slim chance of winning this hand. And I just might. I just might.
Sorry for the sermon. Just finally getting my head right on this. Here we go again "soon..."
"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
www.younglife.org
