Phoenix Associates Land Syndicate (fka PBLSQ)

[GIBBER]

Xylan - there must be a reason that Wilbur Babit fought so hard to get his claim to be heard in federal court and the company fought hard to keep it out of there. I am assuming the defendent E.H. Mitchell LLc. is part of PBLS. I looked at the last filings from PBLS which are a couple of yrs old. I looked at the assets then and I added up the ones if they are still w/the co. as as follows:
Land Leases 1.4M
Bldg .73M
Land .23M
Real Est 11.0 M
Mach 9.8 M
Mineral Res 47.5 M

It looks like MM knows that something here is worth more than they are showing. I am guessing it is the Mineral Rights. I do not have the assets listed from the documents yu have but MM must think there are some assets way undervalued and Wilbur thinks so too to spend so much time and money to get it in the Federal trial.
Also the company appears to be going after the CEO and wife because they feel they have assets they stole and can get back.
Just my opinion there is something here we do not know and MM does. They had to review these assets and libilities before spending the time and money to go to court and feel there is something worth a hell of a lot more than is showing up on the paper appraisals for the court documents.