Phoenix Associates Land Syndicate (fka PBLSQ)

[USA*2014]

The only part of the PR that matters,

We do not intend to increase our "Authorized Shares" of common stock or preferred stock above the current levels, and we have no plans to do any kind of reverse split. And further, we do plan to reduce our outstanding shares of common stock. We will be implementing a long-term effort to buy back stock in the open market as earnings and cash flow permit.

As to any of the accumulated dividends that may not as yet been paid to holders of our preferred stock, it is our plan to bring these dividend payments current over the next sixty days or so, as our restructuring program progresses.