Phoenix Associates Land Syndicate (fka PBLSQ)

[momentumtrader]

This is what Ron Blackburn told me the other day.
He said 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 have spoken with 2 compliance people and they do not see it that way after showing them the current information. I personally am not at all satisfied with the answer and I think they shoud come up with a formal statement explaining in detail the intent and structure of both the series 1 an 3.