mac44, you ask, "How to explain up 26%? It's not that complicated really." You're absolutely correct, it's not that complicated at all; up 26% on Tuesday simply brought PBLS back to support levels immediately following a one-day plunge on Monday, and produced no follow-through during the rest of the week. So essentially a ZERO GAIN in value from the PR even though over 50M shares traded. Management may or may not be frustrated at this but current shareholders definitely should be wary, just as duelittle2 was saying at the time. Either someone was getting out in a big way (why???) or the naked shorts and other illegal manipulators have taken hold of PBLS and are about to make shareholders their b**ch.
So, sorry to say, the SP appears to be far from a sure thing despite a buyback and several uncomfortably optimistic PRs. Especially when management uses sudden riches to acquire a new headquarters and plunge into a brand new line of business -- the highly speculative O&G business at all-time highs, no less -- all in under three months time, caution, not blind optimism, remains the prudent course for investors.
On June 16 PBLS announced their intention "to bring the Company into SEC compliance and to become a fully reporting company in accordance with the U.S. Securities Act of 1934 by mid-2006." On August 8 PBLS announced their intention to accelerate the process and "proceed with all possible haste to make our fully reporting status become a reality in the shortest amount of time." The best thing an honest pink sheet management can do is to follow through on such a pledge and devote all company resources toward fulfilling it. Otherwise, a sincere-but-inexperienced-in-public-companies management team leaves their company exposed as a sitting duck to the vicious manipulations of the OTC sharks. This oft-repeated -- though sorely misguided -- attempt to "strike while the iron is hot" and build a public company while remaining vulnerable to ruthless professional SP manipulation only benefits the criminals. Like it or not, ignorance of this simple and sobering fact ALWAYS proves extremely costly to management and honest shareholders alike. Potentially great companies often (usually, even) are destroyed through poor execution.
