Phoenix Associates Land Syndicate (fka PBLSQ)

[kelly leak]

When I talked to management last week, I was told they were going to set up a couple of different trading accounts for the buyback purchases and that would take a few days plus they were going to be in Seattle maost of this week. Indications were that the buyback of common in the open market would start up no later than tomorrow. They may have bought other stock in private transactions already.

I do not think the company has been a buyer yet this week in the open market. VERT may be testing the waters today as Mike suspects.