Phoenix Associates Land Syndicate (fka PBLSQ)

[Jambamboo]

Ok lets tackle a few of your questions.

1st mineral reserves, when purchased the company puts their estimated value on the entire mine, the decrease of course is handled by depletion, this is the use of the mineral reserves.

Lets go line item for line item

The building at 728K is the company headquarters the $225K is the land the building sits on.

Real Estate Holdings is the Condos (booked at purchase price, even though it appraised for higher)

Mach and equipment increased in value.
Leasehold improvements etc.

As far as acquisions go, we are not provided alot of the information. When we aquire a business they may operate out of a facilty but not own it. 2nd some of the acquisitions dont come on the books the day they are announced sometimes it takes time for the transaction to close.

In the 3rd quarter we should see an increase in machinary and equipment from the purchase of the air planes. etc.

So you asked legitimate questions but some of the transactions are not booked yet, so they wont appear in the financial statements, plus we need more detail on what was purchased, what assets of the business being acquired.

Hope this helps you out.