Phoenix Associates Land Syndicate (fka PBLSQ)

[gnulnx]

Edit Ren,

I agree somewhat, escept about the private placement. While I don't have time to get legal docs for it I can point you to a wiki. Also I've had numerous discussions with our in-house attorney who works for the venture capital firm that funds us about inesting in our company. The answer is always the same. Only accredited investors can invest at this stage. Also our firm doesn't want a lot of investors until we go public...if we do.

http://en.wikipedia.org/wiki/Private_placement

I agree that selling into the Katrina spike was very ver smart. No problem with that. I've always said that. BUT IT WAS THEM SELLING. THEY WERE TELLING PEOPLE AT THAT TIME THAT THEY WEREN'T. That's wrong.

"If and when it is demonstrated that they were selling into the open market during a buy back, I will personally sell all of my shares and move on to other investments."

I suggest you open your eyes. How do you think the OS went from under 400M to around 800M in a year? I can buy that alot of the 800-1.75B shares are locked up in some sorta of voodoo pref III shares, but before that we didn't use 400M shares for purchases. They sold shares. The proof is in the chart. Of course you can argue that they never sold and bought in the same day...that's probably true. But convincing shareholders that they are reducing the float through buy backs while at the same time fully diluting the OS is misleading at best.

Of course PBLS could issue a nice pr compeltly detailing what happened to the shares over the last two years....wonder why they don't.

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