Replies to post #21226 on Phoenix Associates Land Syndicate (fka PBLSQ)

[gnulnx]

PNEW

I don't think they intended to reward flippers. I suspect the plan back fired on them. In my mind it's really only a few possibilities.

1) They didn't think the price would drop.
2) They certain restricted shares would be coming on the market.
3) Paul did it for the longs.

I guess there are other possibilities, but it's early and I havn't had my coffee yet today. I will say that when I asked if they would buy shares on the open market I was told yes. I asked this question right after being told only 2 people had even asked about the buyback. That was a couple of weeks ago.

Here's what I think might very well be happening. Someone is selling shares *duh*, and PBLS is buyng them back. Probably the person/group selling the shares is not able to take advantage of the buyback..perhaps they were restricted shares. I do believe that once anyone gets word of someone getting a check from the buyback we should see this puppy move back to 3 cents in a hurry. I think a lot of people are looking at it like...it's just to good to be true.

[tt]

My take is, the company had to set aside 3Mil. to buy back 100Mi. shares at .03. For months since they announced the buyback, the price did not move much lower than .03. But since July 31, price has been going down to .185. So, I asked IR specifically if they are taking advantage of these SP decline and buy shares in open market. The answer was simple "YES". For now, that is all I needed to know.

200Mil share out of the public float is, 200 mil. share out of penny flippers and greedy MMs. What the company will do with the 200 Mil (retire, use for incentive, for aquistion..) we have to wait and find out. "Buyback of share plan" by itself is a show of company caring about long term investors, although it is painful to watch SP sitting for weeks on .02 range.