Phoenix Associates Land Syndicate (fka PBLSQ)

[McDuck]

SERIES 3!! Whole share structure needs total clarification.

I find series 1 & 2 confusing enough. With a combined total of 187,500,000 possible. Would it not take the conversion of 167 common shares to fulfil each one of those 187,500,000 series 1 or 2 shares that will be issued? That allows for 31,312,500,000 {that is 31 billion} common shares just to max out the series 1 & 2 through a 167 to 1 conversion. That makes no sense does it? Maybe someone who understands these things better can shed some light on this; or perhaps this share structure issue is really as confusing as it seems to some of us.

As of the pink sheet filing 923,123 shares of series 1 & 2 have already been issued; that equals 154,161,541 common shares that have already been converted? That's pushing 20% of the 815 million figure that was being tossed around last week as the possible OS figure.

Like I said I am pretty new to this stuff; maybe I just don't get it! Sometimes this old birds' brain doesn't work like it used to.

Y'all try to have a great weekend.

$crooge