Phoenix Associates Land Syndicate (fka PBLSQ)

[grizzy]

The details of the Progas deal, while having a few almost hidden gotchas, were not a dangling carrot. If Progas has audited net profit of $400K for FY 2005, and Phoenix paid in restricted and preferred shares, and is paying 'in installments' (whatever that means), that does mean that at least they have a company in the black in their arsenal. And I can't imagine Progas would've agreed to the acquisition if Phoenix was a chump company, unless Progas believed they were going down for the count...

No, last Friday's PR was the first carrot in the mouth, so to speak...I hope we'll have more.