Phoenix Associates Land Syndicate (fka PBLSQ)

[brigunn]

Eddie, I agree there is no money for anything. With the A/S all but maxed out at nearly 3B, and no assets available, then how do they pay that debt through a chapter 11? Only one answer that I can see. R/S the common shares, and max out the A/S again by dumping billions of shares. We don't know if there was a move to a business with greener pasture, but they didn't claim it as an asset so back to the R/S. At best the greener pasture move is a band-aid situation.