Phoenix Associates Land Syndicate (fka PBLSQ)

[momentumtrader]

I sold half of my position today.
It is by far the hardest sell I have ever made.
If the series 3 preffered are what they are showing, I am going to have to do the preffered 2 and hope to get paid some day. Lets hope series 3 does not take a precedent over series 2.
Here is the way I see it.
This stock always traded around .015 cents with us all thinking they had 815 million shares or less.
Now we find out that they have 915 million more shares outstanding. Discount the stock by more then half and you get .008 cents a share. Throw in that management has completely mislead us on the outstanding shares or lied to us. However you want to see it. Discount a little for credibility. .006 Now you have to account for 104 million to be paid to management which comes out to .17 cents a share. This is going to come out of future earnings. Their is nothing left to appreciate the stock. Also the fact that they have been quiet throught this whole period after announcing the share structure and preffered is a nightmare.