Phoenix Associates Land Syndicate (fka PBLSQ)

[monkeyfrog]

Why in the world did PBLS hook up with Brassbulls? NE14trade you aren't familiar with them are you?

http://raptorinvestments.com/_wsn/page3.html

http://brassbulls.com/

Site was up for the latest PR and mercifully now they are redoing their website- but what kind of message does this send potential investors who read at the bottom of the latest PR to contact Mike Mulshine or Brassbulls?

More from 2002 - 3 principles are all family- just don't see why PBLS would seek these guys out to help spread the word.


RAPTOR INVESTMENTS: Losses Raise Going Concern Doubts
-----------------------------------------------------
Raptor Investments Inc. incurred a net loss of $521,067, a
negative cash flow from operations of $969,694 and has an
accumulated deficit of $8,187,485. These factors raise
substantial doubt about the Company's ability to continue as a
going concern.

Management's plan for the Company in regards to these matters is
to continue to grow the produce operations of the business
through the J&B Produce subsidiary, which management believes
will provide the necessary revenue and earnings to enhance
shareholder value. Management intends to focus the business on
profitable core customers and reduce costs using inventory
controls. The Company is also actively seeking to refinance its
long-term debt on terms more favorable to the Company.
Management believes that the actions presently taken to reduce
operating costs and obtain refinancing provide for the Company
to operate as a going concern.

The Company plans to develop into a holding company through the
acquisition of various business operations. Raptor closed on the
Acquisition of J&B Wholesale Produce, Inc. on July 2, 2002.

Raptor completed the acquisition of LBI E Web Communities, Inc.
LBI E Web is an Internet related holding company that currently
owns the following five domain names: FinanceItOnTheWeb.com (a
financial services directory site), Brassbulls.com (a public
relations and financial information site), MyEnumber.com (an
online address book and one stop Rolodex), Homewaiter.com (a
food delivery and information site), and Mimesaro.com (a Spanish
food delivery and information site). The Brassbulls.com website
was completed in April 2002 and is fully operational. LBI E Web
plans to create a network of self-developed websites covering a
diverse universe of subjects.

The Company continues to pursue business consulting contracts
from publicly traded and privately held companies. Raptor plans
to provide consultation in various areas including: mergers and
acquisitions; venture capital; public relations; restructuring
and financing. The Company plans to market its services
to publicly traded and privately held companies through
referrals and advertising in various business publications.

As of September 30, 2002, the Company had a stockholder's equity
of $5,299,305, and as of that same date Raptor incurred net
profit of $24,627. The Company plans to generate revenue in the
future by retaining business consulting clients in the private
and public sector. In addition, the Company plans to seek the
acquisition of additional income producing assets such as J&B
Wholesale Produce, Inc.

The Company completed the acquisition of J&B Wholesale Produce,
Inc. on July 1, 2002. Raptor acquired 100% of the issued and
outstanding common stock Of J&B, a privately held Florida
Corporation, from Gennaro Mugnano in exchange for $ 2,325,000.
J&B is engaged in the wholesale produce business in Florida.
Pursuant to the agreement between Gennaro Mugnano and the
Company, the Company acquired 1000 shares of J&B Common Stock,
and J&B became a wholly-owned subsidiary of the Company.

In order to effectuate the purchase, Raptor and J&B borrowed
$2,825,000. from Gelpid Associates LLC, a Florida Limited
Liability Company. A promissory note in the amount of
$2,825,000. was executed. The Note has a term of three years,
and bears interest at the rate of LIBOR plus ten percent,
adjusted monthly. The minimum monthly payment due under the Note
is accrued interest only. There is no prepayment penalty under
the Note.

The Note is secured by the machinery, equipment, furniture,
fixtures, inventory, accounts receivable, work in progress,
motor vehicles, computer hardware and computer software of J&B.
UCC-1 Financing Statements have been filed by Gelpid and Gelpid
has taken possession of the titles to all of the motor vehicles
owned by J&B as per the Terms of the Loan Agreement between
Raptor and Gelpid. Contemporaneously with the execution of the
Note, Raptor and J&B entered into a loan agreement with Gelpid
which permits Gelpid to either appoint one member to the Board
of Directors of Raptor and J&B, or at the election of Gelpid to
appoint an observer to be present at the meetings of the Board
of Directors of Raptor and J&B.

The loan agreement requires, in addition to the minimum monthly
interest payments under the Note, that the principal balance due
under the Note be reduced by an amount equal to the greater of
$250,000. per annum or 50% of net operating earnings of J&B per
fiscal quarter.

As of September 30, 2002, the Company had not made any payments
to reduce the principal balance under the Note. Gelpid had not
appointed any member to the Board of the Company and had not
appointed any Board observer as of September 30, 2002.