Phoenix Associates Land Syndicate (fka PBLSQ)

[tedwitt]

I never said it was a bad thing. In accounting you have to account for shares fully diluted... SERIES III (Is convertable). You can not have a SERIES III without having the ability to absorb them into the float even if they never make it to the float.

SERIES III existed before it was last raised. Draw your conclusions.

PS;
I think series I is convertable as well.

If both of these blocks exist and are having to be accounted for on a fully diluted basis then the A/S will not = O/S by any means. And if SERIES I & III are not presently converted... well again draw your conclusions.

SERIES II is not convertable.