xray44b9, thank you for the confidence, I will do my best to uphold my end.
I have found management to be trustworthy and responsive to ideas and suggestions. I know they have worked very hard to make something of this company and have fought many battles to get to where they are now.
They have faced many adversities and have been able to assemble the correct people to pull through them.
They are also human. Like all of us, they make their share of mistakes and fix them.
I do not believe them to be "scamming" or "conning" us. They have had plenty of opportunities to walk away and leave us holding the bag. Remember, too, this company was originally listed on the NASDAQ when I bought my first round of shares. I am sure management passed the SEC litmus test then, and will probably have to pass it again to get re-listed.
Most importantly, they learn - a lot - with each undertaking. I personally think it was wise to walk away from the FEMA work. Rumor has it, the large contractors with the direct contracts are making all of the money with only small profits sent down to the companies actually doing the work.
I have no idea how to value a business. I bought my first shares at .055 with the only asset of the gravel pit and its antiquated equipment. Assuming the oil reserves are correct and the A/S stays at 997,000,000, my best guess would be about $4.00 per share - leaving a huge margin of error by not considering any aspect of the other operations.
One of the original three partners told me they hoped to build a company that would trade in the mid teens. I think we are on our way there.
I hope that current management brings on new blood with the ability to propel this company to the next level. Do not misunderstand; current management is quite capable of growing this company now and well into the future. I would like to see some more in depth experience to accelerate the process.
I think it is ridiculous for a company this size to trade on Pinks. I have asked, but not had an answer, if there is a limit to the size of company that can trade on the Pinks. This would be the indication of the future of Phoenix.
I think the limit of my patience will be tested if there is no migration from the Pinks in the first quarter of 2006.
Sorry for the long post, but you asked for my opinions.
AI
