Phoenix Associates Land Syndicate (fka PBLSQ)

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I have to agree with your analysis. Looks like they might have taken this loss into account in their future growth plan. We will have to wait and see.

"These cases will not affect the continued advancement of the interests of Phoenix and its stockholders regardless of their final outcomes."

The third piece of litigation involves the lessor suing Phoenix for signing operational agreements to further develop the property. Phoenix developed these agreements when it lost all of its equipment to the Mississippi bank. The lower court determined that these operational agreements were sub-leases and were a material breach of the lease. Phoenix used a major "New Orleans law firm to write the contracts but the court ruled that the contracts were a violation of the lease and the Judge cancelled the entire lease. George Denegre, Esq. of Liskow and Lewis believed that the contracts were a violation of the lease but our other attorneys believed we should have prevailed. All attorneys believe that the ruling was excessive with the cancellation of the lease. Phoenix has posted its bond and filed its appeal and expects to continue to operate for at least the next eighteen months while the appeal is litigated."

Phoenix has extremely strong case law and rulings by the Court of Appeals in other cases that indicate it should prevail and should be able to continue operations until 2023. Because of this strong belief, Phoenix is continuing to invest millions into the improvement of the MS&G mining operations regardless of the court's ruling. These cases will not affect the continued advancement of the interests of Phoenix and its stockholders regardless of their final outcomes.