cosmoworld7...re: the "Closing of the ProGas Deal"...
The PR of November 30, 2005 - 12:45 PM EST states:
Phoenix Associates Land Syndicate Updates Timetable on Acquisition of ProGas, Inc.
Phoenix Associates Land Syndicate (Pink Sheets:PBLS) updated its shareholders today regarding its previously announced intent to acquire Covington, Louisiana based ProGas, Inc. The closing date for the transaction, which was originally scheduled for the week of November 30, 2005, has been revised to close by mid-December.
Paul Alonzo, CEO of Phoenix stated, "The deal is done in principle. We have already begun the integration of ProGas into our overall operations, however there was a delay, do in large part to the Thanksgiving Holiday and legal review of the closing documents, that prevented us from 'officially' closing the transaction this week. Irrespective, we should have the deal closed shortly and we are already reviewing other compelling candidates for acquisitive growth."
"mid-December"...To me means by Friday, but "mid-December" is rather Vague IMO...
More than anything, I am hoping this Deal is "Officially Closed" by the close this Friday...Paul didn't tell me Exactly on what day the PR would come out, so I really don't know anything other than what is in the PR...
I DO have plans to call HQ sometime this week with the following questions:
1) Has the "Buyback" begun yet in the Open Market?
2) What is the A/S and O/S Share Count and Structure?
3) What is the Deal with the new PR Firm "BrassBulls"?...Is this the PR Firm they actually hired?...
I was led to believe the Company they would do PR Business with was more "Prestigious" than the one they have apparently hired...
4) Was there a "mistake" in the Nevada PR about the "one well" on a neighboring Lease producing 15K BBLS/Day?...Should it have read 15KBBLS/Week or even 15K BBLS/Month...And was it actually "one well", or a combined total for a number of different wells on the same Lease?
5) I would like more information on the $8.5MM of "Debt" Paul seemed VERY pleased to have "Paid Off"...Was that about a lawsuit over the construction of home as MarriedWithChildren has spoken of, of something else?
6) I would like more information about the "25 International Investors" they had meetings in Seattle with recently...Which Division of PBLS were they talking about "doing business" with?...The O&G Division?
7) What is the status of the ProGas Deal, and will there be a PR announcing it is "Done" by this Friday, and will that PR include "Audited Financials" or NOT?
8) What is the status of becoming "Fully Reporting", and how many days after they file Form 10 will they be able to make the move to a better Exchange?
9) How is the cleanup and rebuilding of New Orleans going, and what part does PBLS play in these efforts?...It would be nice to get some numbers from the Sand and Gravel Operations, the Bayou State Trucking Division, and the Construction and Swimming Pool Divisions...Why haven't we heard more about this part of the Business recently?
If anyone has any other questions you'd like me to ask, please post them and I'll put them on my list...
