I just registered for IH after reading the post regarding Dennis Kowalski's response to momentumtrader. I am a long-term shareholder (pre-Katrina)with a significant position. Dennis Kowalski's post says a lot to me about the individual and the company.
It appears that Mr. Kowalski is having difficulty understanding why shareholders have more than a few questions after release of the Pink Sheet 'package.' It is also apparent that Mr. Kowalski has no clue as to how to communicate with shareholders. Mr. Kowalski clearly does not have experience with a publicly traded company.
Mr. Kowalski's response to momentumtrader is an embarrassment to the company and an insult to shareholders. If Mr. Kowalski is really the overseer of operations and responsible for accounting, then I am deeply worried. More troubling is the sense that the Alonzos and Mr. Blackburn were 'ok' with the 'package' and that they did not anticipate the flood of questions raised by the package.
If the package was prepared under Mr. Kowalski's guidance, and if Carolyn Alonzo signed off on it, then they should both be fired. If Paul Alonzo and Ron Blackburn signed off on it (and they almost certainly did), then their competence should also be questioned.
The acquisitions may be great and PBLS may have a bright future. I'll be as excited as any shareholder when they share the all the supposedly great news that's in the pipeline. However, I'm more interested in prompt resolution of some basic questions. They can start with share structure (ahem, class III and 1.75B outstanding), performance of on-going operations, and status of the audit process. There is absolutely no excuse for such poor communication and for further delays in providing this information.
Phoenix should show us that they can competently manage what they have already acquired.
