Replies to post #30849 on Phoenix Associates Land Syndicate (fka PBLSQ)

[seeclear]

'Ren' -- I am sure it has been common knowledge 'on this board' that Paul has "stated" that their primary source of acquisition has been and will continue as required... through usage of restricted shares. SC

[j.c.]

You can find the company representing usage of restricted shares in the following excerpts from PR's (currently, they have stopped providing any details):

Dec 16, 2005 - ProGas, Inc. - cash, preferred shares and restricted shares in a transaction valued at approximately $4,500,000. Total purchase consideration consisted of $2.5 Million in-cash payable in installments, 150,000 Preferred Shares(a) and 10 Million restricted common shares at a value of $.05 per share.


Jan 3, 2006 - settled promissory note dispute - terms of the settlement agreement, Phoenix has paid Capital Growth Resources and Capital Growth Protection, Inc. a total of approximately $557,000 in cash and approximately 11,824,000 shares of Restricted Common stock


May 2, 2006 - closed on the acquisition of three Texas-based oilfield companies, Sam's Oil Country Inspection Services, Inc., CM Ideal Energy, Inc. and Ideal Energy Directional Drilling Services, Inc. - total purchased price of the three companies was set at $4.125 million, structured as follows: $1.25 million in cash, 2.5 million shares of restricted common stock of the Company at $0.05 per share, and 275,000 shares of PBLS preferred stock at a par value of $10.00 per share

[pnew122]

Ren---

http://www.pbls.biz/pressrelease_content.asp?prid=22

FOR IMMEDIATE RELEASE
PHOENIX CEO, PAUL ALONZO, RELEASES MESSAGE TO SHAREHOLDERS

COVINGTON, LA - July 1, 2005 - Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) released the following message to its shareholders from the Company's President & CEO, Paul Alonzo.

TO ALL PBLS INVESTORS:

Several investors called the office after our last news release expressing concerns about the use of stock when purchasing existing companies. RESTRICTED AND/OR PREFERRED are the words I left out of the release. In almost all cases we use five year restricted and/or preferred stock to purchase other companies. Each deal has certain unique aspects but they are usually structured with RESTRICTED AND/OR PREFERRED STOCK with certain triggers wherein a seller can exercise various contract options. It is also appropriate to say that any purchase by Phoenix would be expected to be accretive within the first year of purchase, which is certainly in the best interest of our current shareholders. I hope this further clarifies the use of stock in Phoenix purchases.

The management at Phoenix extends our best wishes for a great 4th of July celebration to reaffirm our pride in the signing of the Declaration of Independence.


Investor Information:

[kimac_1]

Renavatio/I see that you make the following statement:

[And BTW, Phoenix currently does not claim to use restricted shares for acquisitions (and I can find no evidence they ever did)] *****Then please look at the July 1 2005 PR!*****

If you'd been in this stock since July 2005, and or read the July 1, 2005 PR which can be found on the PBLS web wite, you would see that your stament is incorrect. Actually in most cases PBLS uses five year Restricted common shares and in some cases they in addition use Preferres shares, depending on the deal they work out. I got this from talking to their Director of acquisitions Ron Blackburn, and it is also stated on the above mentioned PR, which can be found on the following link.
http://www.pbls.biz/pressrelease_content.asp?prid=22
kimac