PHGI shareholder buddies,
I have to admit that I'm somewhat surprised that progress continues to be made at the biofuel refinery and at the mine. Over the past month or so as the share price has been driven down to almost nothing I lost a lot of the small hope I had of realizing a good investment through PHGI. I tried to stay optimistic, however, the share price had gone down to nearly zero and it appeared to be because of dilution from accredited shareholders.
Yet with the share price falling and with shares seemingly flying off the press at inexorable rates, the refinery appears to actually be ready for production, and the mine is now accepting work applications. So is this a positive thing that long shareholders should be jumping for joy over? Not necessarily.
PHGI has missed completion targets on pretty much every PR they have released. Now one side of this board would have you believe that the things PRed will NEVER happen. They don't know that. I don't know if they WILL happen either. What I have seen from the beginning of this company (since I started following it back in January 2007) is that progress has been made, but well after the PRed announcement dates. In a way you can say that PHGI reports the opposite of Apple, Inc. Apple never PRs and then surprises, while PHGI PRs like heck and doesn't deliver on time.
It better be very apparent though that we can't compare Apple to PHGI. The important thing to me, being that I'm averaged down at a pretty low price now, is that progress is STILL BEING MADE. I'm not pulling my investment out because things are STILL happening! It looks like the refinery is going to be up and running this month. The mine could very well get going this year. If both of these get going by the end of the year it'd be a good bet that we'll be at a higher price than we are at now, and possibly much higher than we think.
I have a suspicion that the "Bashers" on this board are helping to keep the price low, but that is just my own thoughts. Naked shorting and the death spiral could probably kill the company off, but for now I see that the company is making progress and if they pull through this rough time of a low share price without being able to raise much capital then we can see a great investment in the future.
That is my perspective as a long shareholder. I'm not trying to squash anyone's opinions expressed on the board, in fact I think I can admit that most of what the "bashers" say is true. But admitting that what they say is true doesn't eliminate the fact that progress is still being made in some areas, and that leads me to believe that my investment may still have some value greater than .0002 ;) I'll continue to hold my position for the long run and keep tabs as PHGI slowly moves along at about 1/10th the pace as they PR ;)
Best regards,
Bull
