Phoenix Associates Land Syndicate (fka PBLSQ)

[WhiteSahara]

Those type 3 shares all get annual dividends at 6%. Not only are Ron, Paul and Bride getting handsome salaries and bonus's, they're getting dividends. Paying them dividends means there is less capital for growth. Also, dividends paid for preferred shares are treated like an an expense and reduce the net income and therefore the overall PPS. All the III shares issued are valued at $10.00 per share. The exposure to dividend payment therefore is $37,500,000.00 to a select few individuals. Again, it is an expense and drops the net income and the value of my common shares. The preferred share dividend is due and payable quarterly. The principles get first dibs on the money even after their salary and their bonus's. This may not worry you but it does me, therefore I will continue to express my concerns.