Wrong again Mike2112...When you say:
"that would be contrary to many posts that state the buy back will start early next week."
Who are you going to believe? Poster's on this Board, or an 'Official PR' from HQ? The posts here regarding the buy back were speaking of buying shares on the Open Market for the most part...
If you read the PR that came out last Wednesday more carefully:
"November 9, 2005 - 10:03 AM EST
Phoenix Associates Land Syndicate Announces Systematic Share Repurchase Program:
Phoenix Associates Land Syndicate (Pink Sheets:PBLS) announced today that the company is initiating a systematic share repurchase program to retire up to 100 million shares of the company's common stock to treasury. Effective immediately the company will begin repurchasing shares through both open-market and selected private transactions in order to reduce the total number of outstanding free-trading and restricted company securities."
To answer some of your Other questions...
I've been 'Investing' in the Stock Market a Lot longer than you have, I'm Sure of that...
As far as the reason that I've heard as to why to TA was 'gagged' is: Because of the massive amount of phone calls he was receiving, demanding to know the share count and structure...He was ready to Quit because of this, and the Company likes him the job he is doing for them, and didn't want to see that happen...Plus, he's been a very busy guy organizing this buy back...
When the Company, and other Large Investors pull their Certificates, the MM's get caught in a 'Short Squeeze' when the pps goes up if they haven't been able to cover their shorts from the last run-up...That means they take a HUGE loss when they can't cover those shares at lower prices...They are hoping for the pps to go down from here so that they make more money when they cover those short positions...Have you ever shorted a stock? If you have you may have a good idea how 'Shorting' works...
When a Company announces a stock buy back, the pps usually stalls, which is what we've seen here recently...I would guess the buy back began in the pps range of .044 to now, though of course, this is JMO...
