Replies to post #32248 on Phoenix Associates Land Syndicate (fka PBLSQ)

[seeclear]

'Ren' Sorry ...too much peripheral data to ignore... Here are some pieces... "Also, court documents show that the company sold 590,000 restricted common shares in 1998 and 1999 in relation to several leasehold mortgages on the pit. These were subject to a non-dilution clause and were valued at a 1.00 a share. This was of course, was all before the 1999 chapter 11 filing." (That 'may' be interpreted as 590,000 million shares at the post chapter 11 valuation) + (as well I feel a court may have had something to say about that) Well where did they go..."the receivers of these restricted common shares were Phoenix Associates Lenders Trust IV (400,000) and Capital Growth Planning, Inc.(190,000). While the leasehold mortgage for Capital was originally at 190,000,there were 'provisions' for a maximum 5,000,000 payable 5,000,000 restricted shares (if that ever did come to fruition that would have been an additional 310,000 restricted shares or an extra 310,000,000 shares at... .01 no proof at this moment if these ever happened) Cannot figure how this "Phoenix Associates Lenders Trust IV" fit into this big picture! ...There was also a leasehold mortgage on the pit in the amount of 1,750,000 but nothing was mentioned about that being payable in restricted common stock . This mortgage was to "Capital Growth Planning, Inc.,Trustee of the Phoenix Lenders Trust II" ....(what is this and 'note' the debt was just prior too the Chapter 11 and I am sure it just did not go away?) SC. http://en.wikipedia.org/wiki/Chapter_11

[seeclear]

'Ren'...a tad more..http://cyber.law.harvard.edu/stockspam/public/onemsg.php?symbol=PBLS&id=23370&msgonly=1 Note in the link the reference "Five Private Capital raises through Capital Growth Planning" now I am to only assume Capital too received something in exchange and my bet is a wack of restricted shares. Since this was post Chapter 11 and their was very little volume between 1999 and 2001 I would assume such hypothetical shares could have either been sold to accredited investors, and or possibly dispersed by Calvin Brown and may only in the last two years be making their way to the market! Also taking note that PBLS has specifically stated that they have in fact used restricted stock in their purchases without informing us on the specific details of those times and details and adding them too the previous mentioned common restricted plus the 1,75 billion A/S and who or what may have been done with them..well add in our famously gagged TA ,and that may have lead me to my speculation that PBLS knew these hypothetical shares were incoming and accelerated the issue via Calvin Brown then giving PBLS the opportunity to use a third party hedge fund to cash in on the what they new was going to be a flood of shares. That would sure get them out a bind, help them with cash for their new 'real estate deals' and allow them to still and actually continue a 'legitimate' buyback! The info does not lead me to believe that the amount of money required to 'pull this off' has been coming from the pit, but mores so from a a 'very,very' sophisticated shell game.
In that odd way they have gained my admiration as a company that can upside surprise the hell out of us! I am quite sure they know exactly what the rules are in their game to get up listed...so just a thought! Peace Out! SC.

[MrPastorious]

fully reporting would certainly mean a full disclosure of all share structure. That would be in the K, not the q's...it would be found in the section titled "consolidated statement of stockholders equity,and comprehensive income", so anything that would effect that, (share issuance, income, share repurchases, etc)would be included there.Debt issuance would not be. Also, restricted shares ARE common shares issued with a restricted legend on them.
Also in the K is management salaries and total compensation.. can't wait to see that.