I hope any undisclosed plans to turn this thing around are not dependent on the price of a barrel of oil! I'd love for this to turn around (and w/out a RS), but I don't see it happening 'soon'. Not with 2.5B shares floating around.
Even if we get a settlement of $10 - $20M, how much will be left after settling debt and lawsuits? If we do get a settlement, I'm sure there will be plenty of parties filing suit against PBLS in an attempt to get some of that lawsuit money.
Finally, what about profits and future earnings? Given the price of oil and the economy, I'm not sure pools, construction and oil-related services are a great play. Even if they are, will they bring in enough given 2.5B shares? Of course, w/out audited financials, who knows anything about cash-flow, revenue, profits, etc. And given past history, the company hasn't really earned the benefit of the doubt (how's that for an understatement?).
Anyone have any rosier, and realistic, scenarios?
GLTA
PS... This is a much better play for new money than it is for those holding old shares. But holding old shares makes more sense than selling at these prices.
