Rabbit, any outstanding shares that are not restricted are part of the float whether the shares were purchased on the open market or from Phoenix. If the purchaser has the option of selling the shares once they’ve been acquired, the shares are or have become part of the float. However, I understand your point about the PPS and the float and I could have been clearer about mine. My thoughts are that:
“They have committed to over the counter purchases of approximately two thirds of the amount they require,…”
surely means two thirds will come from the existing float. IMO there is nothing to indicate the partners have begun to purchase from the existing float. And:
“…with the balance to come from Phoenix”
might mean more shares will be made available for purchase by the partners by increasing the OS. The previous paragraph in the PR stated the AS increasing from 1.75 to 2.5 billion. Phoenix may have never intended to do a private placement of shares with the partner at a specific price (I agree with you if you meant the PPS would not be affected if the partner held those privately placed shares that did not come from the existing float). We know the OS has been increasing. If this is being done for the sake of the partner and the partner (intentionally or not) is buying some but not all the shares provided by the increasing OS, or buying at a slower rate than the OS is increasing, more shares are being made available for public purchase. The PPS is declining as a result of supply exceeding demand. Phoenix and the partners could be doing exactly what was PR’d (Phoenix providing shares and partner buying). That coupled with weak hands folding is creating a bargain opportunity for the partners and anyone else (I’m not a scam theory believer until there’s proof). When the OS increase stops, the PPS will level out at a 52 week bargain basement low as the partner’s buying catches up with the increased OS. Then, the partners will begin buying the remaining two thirds of what they need from the increased float. Not counting the part of the float that will be held by the partners, the remaining float should end up being 800 million to 1 billion shares.
This could be hopeful guesswork due to lack of facts but I’m going with the company through this tough time regardless of the recent negative sentiment which in the end may have done nothing but helped multiply my current purchasing power. I’m not into starting rumors so what else is there to do. I know, I’ll buy, buy, and buy some more very soon.
This post contains no advice...
...JMHO.
...JMHO. 
