Its not a matter of believe its a matter of fact and the fact is A/S = O/S check the link and compare it with the Outstanding Shares: 1,750,000,000 as of 2007-06-14 Just a no brainer here imo ttps://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/corpActions.aspx?lx8nvq=OC%252fek5CzwFAul0UF%252fLVRFg%253d%253d&CorpName=PHOENIX+ASSOCIATES+LAND+SYNDICATE