Phoenix Associates Land Syndicate (fka PBLSQ)

[momentumtrader]

I am told series 3 preffered is owned by management
It is their to protect the company if their is any kind of take over attempt. It is used primarily to act as a poison pill if any attempt were to be made. Based on what I was able to ascertain that it was needed. When I asked if management is earning about 2.5 million a year in interest he said no. He said series 3 doesn't necasarily pay anything. That is not the point of series 3 stock.

I admit when you read it, it can be taken that way. I would like to have some more formal disclosure to how class 1 and 3 work. That is very much needed.