Crooner
Bought my 1st shares 6/21/05 for .0087. More on 6/29 for .055, and 8/26 for .0033. We then got the spike to .012 ONLY because of Katrina, period. Sure, there was speculation of huge contracts with the guvment for soil, then the massive expansion of the company. Many like me bought and held (still do) based on the company “prospects” not promises. Mulshine from IR mentioned a time frame of 2-5 years for big things, which coincided with company developments @ the time.
Thinking back the biggest “event” that I recall was when the company increased the AS. Shareholders eventually found out, but the company was not “timely” with “their” disclosure. The next shoestring many were banking on was the continuous PR’s about how the company would give full disclosure.
So let’s be realistic. If the company spiked to .12 on ONLY Katrina, but had a chance to regain that level with “forward looking statements” that have now drastically changed, one can now evaluate the possible and probable outcomes.
We are now about 50% below the PPS when NO ONE knew about PBLS AND there was basically nothing substantial projected in the future. The pit is now in litigation, and a vast majority of potential revenue streams most likely will never materialize. I won’t even talk about the billions in revenues the company projected in the Oil biz which as of yesterday was $100.00+ a barrel. Many of us had contemplated and predicted a spike in Oil and for me @ least, was a very lucrative possibility when I went long.
Many of the shares were issued according to the company for future growth. Looking @ the org chart today, well you can see. I believed PA and company got a HUGE break with Katrina (terrible thing to happen in LA) and immediate cash flow. I had NO reason to distrust or doubt the integrity of anyone involved with this company. So where does that leave us?
I personally see no way this company will ever see .12 again based on their current revenue stream and future biz projections and opportunities. Maybe even worse is the “report” card and “historical” performance that is now recorded in history. That will scare many potential investors away. As for me, I will hope for the best, and expect the worse. By Dec of each year I will take my $3000.00 loss from somewhere whether it is PBLS or another stock to offset any gains.
I know for a fact a few people who were devastated and nearly financially wiped out by overextending themselves. Are they to blame for assuming that risk? Of course. But I can’t emphasize how important it WAS and IS for the company to consider what they disclose, and what impact it could have on investors. The company gave us data with potential time’s frames, we trusted and bought accordingly. This isn’t as simple as saying PA & company got swindled by a few people and it wiped out the company for the time being. This is and has been 2 years in the making.
I’m saddened for those who eventually had to sell for a loss, and WILL be saddened if I ever find out that PA and company intentionally misled for ONLY personal gain. No one can blame someone for “their” failures. We ALL have them nearly every day. But MANY of us don’t make decisions that affect 100’s if not 1000’s of others lives. I am completely confident that @ the end of the day, we will all get our reward be it bad or good. And it WILL be a result of our integrity, respect, and commitment to others. Wish I could paint a pretty picture, but I just can’t imagine what would turn this around. As for newcomers, the chance for a nice payday is more realistic @ these prices.
Just remember. Those that post negative are no different than those who are positive. We are just posting our feelings based on the SAME data, but with different expectations both from past history and future expectations. Happy New Year to all, and good health to everyone.
Be happy while your living, for your a long time dead.
